# EDGAR Filing Document

**Accession Number:** 0001378872
**File Stem:** 0001752724-23-017300
**Filing Date:** 2023-1
**Character Count:** 210186
**Document Hash:** 924f77fda98745ae3294cd0bf5de52a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-017300.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001752724-23-017300

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Invesco Exchange-Traded Fund Trust II
- **CENTRAL INDEX KEY:** 0001378872
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21977
- **FILM NUMBER:** 23565223

**BUSINESS ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515
- **BUSINESS PHONE:** 800-983-0903

**MAIL ADDRESS:**
- **STREET 1:** 3500 LACEY ROAD
- **STREET 2:** SUITE 700
- **CITY:** DOWNERS GROVE
- **STATE:** IL
- **ZIP:** 60515

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Exchange-Traded Fund Trust II
- **DATE OF NAME CHANGE:** 20070919

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PowerShares Global Exchange-Traded Fund Trust
- **DATE OF NAME CHANGE:** 20061023

## Series and Classes Contracts Data

### Invesco S&P SmallCap Industrials ETF (Series ID: S000028300)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000086475 | Invesco S&P SmallCap Industrials ETF | PSCI            |

## Nport-Ex

Schedule of Investments<sup>(a)</sup><br>

### Invesco DWA SmallCap Momentum ETF (DWAS)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.97%** | **Common Stocks & Other Equity Interests-99.97%** | **Common Stocks & Other Equity Interests-99.97%** |
| **Communication Services-0.39%** | **Communication Services-0.39%** | **Communication Services-0.39%** |
| DHI Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;297923 | &nbsp;&nbsp;$1674327 |
| **Consumer Discretionary-12.04%** | **Consumer Discretionary-12.04%** | **Consumer Discretionary-12.04%** |
| Academy Sports & Outdoors, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;37845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910416 |
| Acushnet Holdings Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;30839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401633 |
| Asbury Automotive Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820665 |
| Bowlero Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;109357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526624 |
| Dave & Buster's Entertainment, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;68484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716075 |
| Designer Brands, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;112787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725641 |
| Destination XL Group, Inc.<sup>(b)</sup><br>| 1102845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7344948 |
| Dine Brands Global, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;20977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564674 |
| Funko, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;117510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116345 |
| Green Brick Partners, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;64341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555765 |
| Group 1 Automotive, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882165 |
| Kura Sushi USA, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;20479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345470 |
| Modine Manufacturing Co.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;109175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2311235 |
| RCI Hospitality Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;58673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340416 |
| SeaWorld Entertainment, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;43420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477545 |
| Skyline Champion Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;29066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511141 |
| Sonic Automotive, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;33305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769828 |
| Stride, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;35425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254399 |
| Target Hospitality Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;293384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4242333 |
| TravelCenters of America, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;73745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3772057 |
| Visteon Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;11870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742516 |
| Xometry, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;23370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986915 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;51318806 |
| **Consumer Staples-3.35%** | **Consumer Staples-3.35%** | **Consumer Staples-3.35%** |
| Andersons, Inc. (The)<br>| &nbsp;&nbsp;&nbsp;&nbsp;44570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715945 |
| Cal-Maine Foods, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;23913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393650 |
| elf Beauty, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;39824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2188727 |
| Hostess Brands, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;59704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576185 |
| Ingles Markets, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;17620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781382 |
| MGP Ingredients, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;17337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168165 |
| SpartanNash Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;48022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577523 |
| United Natural Foods, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;39400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878592 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14280169 |
| **Energy-16.73%** | **Energy-16.73%** | **Energy-16.73%** |
| Amplify Energy Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;280666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2323914 |
| Archaea Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;74936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943840 |
| Berry Corp.<br>| &nbsp;&nbsp;&nbsp;183925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1657164 |
| California Resources Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;44222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2006794 |
| Centrus Energy Corp., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;34964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328632 |
| Comstock Resources, Inc.<br>| &nbsp;&nbsp;&nbsp;187697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444240 |
| CONSOL Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;91591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7093723 |
| CVR Energy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;54023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1990748 |
| Delek US Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;55823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1729397 |
| Denbury, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;32789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2943141 |
| Diamond Offshore Drilling, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;208145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1991948 |
| Green Plains, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;108417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3746891 |
| International Seaways, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;48249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078567 |
| Kosmos Energy Ltd. (Ghana)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;358793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2385973 |
| NACCO Industries, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;34022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539836 |
| Noble Corp. PLC<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;49091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1822749 |
| Northern Oil and Gas, Inc.<br>| &nbsp;&nbsp;&nbsp;158144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5754860 |
| PBF Energy, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;105069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4178594 |
| Ranger Oil Corp., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;98316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4283628 |
| RPC, Inc.<br>| &nbsp;&nbsp;&nbsp;208412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929895 |
| SandRidge Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;310354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6331222 |
| Talos Energy, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;78504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542604 |
| Tidewater, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;65673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1996459 |
| US Silica Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;117438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537263 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Energy-(continued)** | **Energy-(continued)** | **Energy-(continued)** |
| Valaris Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;30899 | &nbsp;&nbsp;$2039643 |
| W&T Offshore, Inc.<sup>(b)(c)</sup><br>| 247053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697254 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;71318979 |
| **Financials-10.78%** | **Financials-10.78%** | **Financials-10.78%** |
| Amalgamated Financial Corp.<br>| &nbsp;&nbsp;62326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662234 |
| Amerant Bancorp, Inc.<br>| &nbsp;&nbsp;55320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629727 |
| BancFirst Corp.<br>| &nbsp;&nbsp;15135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542862 |
| BCB Bancorp, Inc.<br>| &nbsp;&nbsp;81350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533448 |
| BRP Group, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;51193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537838 |
| Carter Bankshares, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;85707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589008 |
| Coastal Financial Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;37262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860119 |
| Donnelley Financial Solutions, Inc.<sup>(b)(c)</sup><br>| 110212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4207894 |
| Ellington Financial, Inc.<br>| 103137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406789 |
| Esquire Financial Holdings, Inc.<br>| &nbsp;&nbsp;37804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695131 |
| EZCORP, Inc., Class A<sup>(b)</sup><br>| 178820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791776 |
| First Bancorp<br>| &nbsp;&nbsp;99962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537416 |
| First Business Financial Services, Inc.<br>| &nbsp;&nbsp;42942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645537 |
| First Merchants Corp.<br>| &nbsp;&nbsp;37058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638334 |
| Greene County Bancorp, Inc.<br>| &nbsp;&nbsp;30588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332947 |
| Hancock Whitney Corp.<br>| &nbsp;&nbsp;29203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601493 |
| Northeast Bank<br>| &nbsp;&nbsp;41977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777306 |
| OFG Bancorp<br>| &nbsp;&nbsp;62363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806656 |
| P10, Inc., Class A<br>| 431028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4409417 |
| Palomar Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;17003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066768 |
| Premier Financial Corp.<br>| &nbsp;&nbsp;53372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557395 |
| Seacoast Banking Corp. of Florida<sup>(c)</sup><br>| &nbsp;&nbsp;44941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545072 |
| South Plains Financial, Inc.<br>| &nbsp;&nbsp;51424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592087 |
| Southern Missouri Bancorp, Inc.<br>| &nbsp;&nbsp;27440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1423038 |
| Stock Yards Bancorp, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;21016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555604 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;45945896 |
| **Health Care-20.39%** | **Health Care-20.39%** | **Health Care-20.39%** |
| Accolade, Inc.<sup>(b)(c)</sup><br>| 118605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1047282 |
| Akero Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;76129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3539999 |
| Aldeyra Therapeutics, Inc.<sup>(b)(c)</sup><br>| 251194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1406686 |
| Allakos, Inc.<sup>(b)</sup><br>| 262093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162267 |
| Allovir, Inc.<sup>(b)(c)</sup><br>| 189929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426367 |
| Amylyx Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;85294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272731 |
| AVEO Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 189804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2837570 |
| Axsome Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;27176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1964553 |
| Biomea Fusion, Inc.<sup>(b)(c)</sup><br>| 209848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1508807 |
| Bluebird Bio, Inc.<sup>(b)(c)</sup><br>| 235494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834498 |
| Caribou Biosciences, Inc.<sup>(b)</sup><br>| 132371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232374 |
| Cassava Sciences, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;38931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1355967 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 230850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3871355 |
| Chinook Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;73333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660992 |
| Cogent Biosciences, Inc.<sup>(b)</sup><br>| 138849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746720 |
| Concert Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 261604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260931 |
| Cross Country Healthcare, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;92158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297413 |
| CTI BioPharma Corp.<sup>(b)(c)</sup><br>| 562845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388327 |
| Cutera, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;37106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765504 |
| Cytokinetics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;37470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592475 |
| Deciphera Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;84445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343520 |
| Dyne Therapeutics, Inc.<sup>(b)</sup><br>| 139499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632138 |
| Ensign Group, Inc. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;16828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598660 |
| Entrada Therapeutics, Inc.<sup>(b)(c)</sup><br>| 105001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571865 |
| Esperion Therapeutics, Inc.<sup>(b)(c)</sup><br>| 205345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375812 |
| Evolent Health, Inc., Class A<sup>(b)(c)</sup><br>| 116454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3352711 |
| Evolus, Inc.<sup>(b)(c)</sup><br>| 166838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207907 |
| G1 Therapeutics, Inc.<sup>(b)(c)</sup><br>| 123710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737312 |
| Gossamer Bio., Inc.<sup>(b)(c)</sup><br>| 115613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989647 |
| HilleVax, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;73328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466560 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco DWA SmallCap Momentum ETF (DWAS)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Health Care-(continued)** | **Health Care-(continued)** | **Health Care-(continued)** |
| Karuna Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6865 | &nbsp;&nbsp;$1615403 |
| Krystal Biotech, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;20954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628964 |
| Merit Medical Systems, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900800 |
| Mersana Therapeutics, Inc.<sup>(b)(c)</sup><br>| 214283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427125 |
| Nuvalent, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;86109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2831264 |
| Point Biopharma Global, Inc.<sup>(b)(c)</sup><br>| 170231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159273 |
| Privia Health Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;39908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954998 |
| PROCEPT BioRobotics Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;36880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1582152 |
| Prometheus Biosciences, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;27595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134430 |
| ProPhase Labs, Inc.<sup>(c)</sup><br>| 142475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1477466 |
| RAPT Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;61748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091705 |
| Relmada Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;48606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226018 |
| Revance Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;57388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245893 |
| Seres Therapeutics, Inc.<sup>(b)(c)</sup><br>| 236959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540234 |
| Syndax Pharmaceuticals, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;62229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491007 |
| TransMedics Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;50267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110019 |
| UFP Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;18559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2228008 |
| Verve Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;45149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1048811 |
| Viridian Therapeutics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;70348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777694 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;86920214 |
| **Industrials-21.29%** | **Industrials-21.29%** | **Industrials-21.29%** |
| AerSale Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;73914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171537 |
| Albany International Corp., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;17605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1784619 |
| ArcBest Corp.<br>| &nbsp;&nbsp;22412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855041 |
| Array Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;84586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771231 |
| Bloom Energy Corp., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;60399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285895 |
| Cadre Holdings, Inc.<br>| &nbsp;&nbsp;58818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525739 |
| Casella Waste Systems, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;66179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5697350 |
| CBIZ, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;54184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690236 |
| CECO Environmental Corp.<sup>(b)(c)</sup><br>| 154739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1875437 |
| Comfort Systems USA, Inc.<br>| &nbsp;&nbsp;14212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801513 |
| CRA International, Inc.<br>| &nbsp;&nbsp;16906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2083834 |
| CSW Industrials, Inc.<br>| &nbsp;&nbsp;12082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461318 |
| Encore Wire Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;12719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858373 |
| Energy Recovery, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;62703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453456 |
| Enovix Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;70007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913591 |
| Federal Signal Corp.<br>| &nbsp;&nbsp;36855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1790784 |
| Fluence Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;86055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1478425 |
| Fluor Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;56405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895772 |
| Franklin Covey Co.<sup>(b)</sup><br>| &nbsp;&nbsp;30893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605200 |
| Franklin Electric Co., Inc.<br>| &nbsp;&nbsp;17218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434259 |
| GMS, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;34461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692035 |
| Herc Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;32154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121178 |
| ICF International, Inc.<br>| &nbsp;&nbsp;13826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498324 |
| Insperity, Inc.<br>| &nbsp;&nbsp;13581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610028 |
| Kadant, Inc.<br>| &nbsp;&nbsp;21133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4079514 |
| McGrath RentCorp<br>| &nbsp;&nbsp;17097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677558 |
| Mueller Industries, Inc.<br>| &nbsp;&nbsp;24051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653987 |
| MYR Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;17454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667381 |
| NOW, Inc.<sup>(b)</sup><br>| 137339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1713991 |
| NV5 Global, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;11091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602760 |
| PAM Transportation Services, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;66510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864275 |
| RCM Technologies, Inc.<sup>(b)(c)</sup><br>| 318718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870011 |
| Resideo Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;85720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1388664 |
| Rush Enterprises, Inc., Class A<br>| &nbsp;&nbsp;32348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666892 |
| Shoals Technologies Group, Inc., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;63642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843709 |
| Shyft Group, Inc. (The)<br>| &nbsp;&nbsp;68927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690779 |
| SPX Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;50182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3357176 |
| Stem, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;90789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186612 |
| Sterling Infrastructure, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;61364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009671 |
| Titan Machinery, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;51951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287402 |
| Transcat, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;61233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900477 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Industrials-(continued)** | **Industrials-(continued)** | **Industrials-(continued)** |
| Triton International Ltd. (Bermuda)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29659 | &nbsp;&nbsp;&nbsp;&nbsp;$2001093 |
| Universal Logistics Holdings, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714725 |
| Viad Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201337 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90733189 |
| **Information Technology-8.90%** | **Information Technology-8.90%** | **Information Technology-8.90%** |
| Axcelis Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2797815 |
| Badger Meter, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1845823 |
| Bel Fuse, Inc., Class B<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038504 |
| CommScope Holding Co., Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;128244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138807 |
| Digi International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024290 |
| Diodes, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2053870 |
| Extreme Networks, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;172006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3606966 |
| Harmonic, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;123455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893800 |
| Impinj, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760429 |
| International Money Express, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1306045 |
| MACOM Technology Solutions Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748836 |
| Napco Security Technologies, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345063 |
| PDF Solutions, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931451 |
| Richardson Electronics Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;143808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3658476 |
| SPS Commerce, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3421068 |
| Super Micro Computer, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380809 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37952052 |
| **Materials-4.87%** | **Materials-4.87%** | **Materials-4.87%** |
| Alpha Metallurgical Resources, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7206043 |
| ATI, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1820898 |
| Haynes International, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1952937 |
| LSB Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;404945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6248301 |
| Ryerson Holding Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;120169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3543784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20771963 |
| **Real Estate-0.32%** | **Real Estate-0.32%** | **Real Estate-0.32%** |
| Farmland Partners, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;103688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376977 |
| **Utilities-0.91%** | **Utilities-0.91%** | **Utilities-0.91%** |
| Altus Power, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;121620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869583 |
| Middlesex Water Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1660419 |
| Montauk Renewables, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;110012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3857847 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $374,721,304) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $374,721,304) | &nbsp;&nbsp;426150419 |
| **Money Market Funds-0.02%** | **Money Market Funds-0.02%** | **Money Market Funds-0.02%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(d)(e)</sup><br>(Cost $82,282)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82282 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.99%<br>(Cost $374,803,586) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.99%<br>(Cost $374,803,586) | &nbsp;&nbsp;426232701 |
| **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** | **Investments Purchased with Cash Collateral from Securities on Loan** |
| **Money Market Funds-22.18%** | **Money Market Funds-22.18%** | **Money Market Funds-22.18%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| 26478412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26478412 |

---

See accompanying notes which are an integral part of this schedule.

------

November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 68054133 | &nbsp;&nbsp;$68067741 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $94,533,334) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $94,533,334) | &nbsp;&nbsp;&nbsp;&nbsp;94546153 |
| TOTAL INVESTMENTS IN SECURITIES-122.17%<br>(Cost $469,336,920) | TOTAL INVESTMENTS IN SECURITIES-122.17%<br>(Cost $469,336,920) | &nbsp;&nbsp;520778854 |
| OTHER ASSETS LESS LIABILITIES-(22.17)% | OTHER ASSETS LESS LIABILITIES-(22.17)% | &nbsp;&nbsp;&nbsp;(94511800) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $426267054 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$202856 | &nbsp;&nbsp;&nbsp;&nbsp;$5088937 | &nbsp;&nbsp;&nbsp;&nbsp;$(5209511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$82282 | &nbsp;&nbsp;&nbsp;&nbsp;$3451 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;25614890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41033792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(40170270) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;26478412 | &nbsp;&nbsp;&nbsp;&nbsp;211,902\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;68444203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92404385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(92790227) | &nbsp;&nbsp;&nbsp;&nbsp;8331 | &nbsp;&nbsp;&nbsp;&nbsp;1049 | &nbsp;&nbsp;&nbsp;&nbsp;68067741 | &nbsp;&nbsp;&nbsp;&nbsp;570,860\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$94261949 | &nbsp;&nbsp;&nbsp;$138527114 | &nbsp;&nbsp;&nbsp;$(138170008) | &nbsp;&nbsp;&nbsp;$8331 | &nbsp;&nbsp;&nbsp;$1049 | &nbsp;&nbsp;&nbsp;$94628435 | &nbsp;&nbsp;&nbsp;$786213 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Consumer Discretionary ETF (PSCD)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** | **Common Stocks & Other Equity Interests-99.95%** |
| **Auto Components-10.06%** | **Auto Components-10.06%** | **Auto Components-10.06%** |
| American Axle & Manufacturing Holdings, Inc.<sup>(b)(c)</sup><br>| 24199 | &nbsp;&nbsp;&nbsp;$251912 |
| Dorman Products, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537033 |
| Gentherm, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;7032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503421 |
| LCI Industries<br>| &nbsp;&nbsp;5385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532361 |
| Motorcar Parts of America, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45722 |
| Patrick Industries, Inc.<br>| &nbsp;&nbsp;4590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256719 |
| Standard Motor Products, Inc.<br>| &nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151067 |
| XPEL, Inc.<sup>(b)(c)(d)</sup><br>| &nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284482 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2562717 |
| **Automobiles-1.55%** | **Automobiles-1.55%** | **Automobiles-1.55%** |
| Winnebago Industries, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;6727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394135 |
| **Diversified Consumer Services-7.53%** | **Diversified Consumer Services-7.53%** | **Diversified Consumer Services-7.53%** |
| Adtalem Global Education, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;9577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398403 |
| frontdoor, inc.<sup>(b)(c)</sup><br>| 17267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403530 |
| Mister Car Wash, Inc.<sup>(b)(c)</sup><br>| 16706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171069 |
| Perdoceo Education Corp.<sup>(b)</sup><br>| 14308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205320 |
| Strategic Education, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;4755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388959 |
| Stride, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;8622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305305 |
| WW International, Inc.<sup>(b)</sup><br>| 11316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46735 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1919321 |
| **Hotels, Restaurants & Leisure-14.54%** | **Hotels, Restaurants & Leisure-14.54%** | **Hotels, Restaurants & Leisure-14.54%** |
| BJ's Restaurants, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158924 |
| Bloomin' Brands, Inc.<br>| 18916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425988 |
| Brinker International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;9297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310985 |
| Cheesecake Factory, Inc. (The)<sup>(c)</sup><br>| 10299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360877 |
| Chuy's Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;3979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126095 |
| Dave & Buster's Entertainment, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;9029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358090 |
| Dine Brands Global, Inc.<br>| &nbsp;&nbsp;3312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247042 |
| El Pollo Loco Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;4132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45039 |
| Golden Entertainment, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205465 |
| Jack in the Box, Inc.<br>| &nbsp;&nbsp;4449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321663 |
| Monarch Casino & Resort, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;2794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237071 |
| Ruth's Hospitality Group, Inc.<br>| &nbsp;&nbsp;6508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113955 |
| Shake Shack, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;7902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415645 |
| Six Flags Entertainment Corp.<sup>(b)(c)</sup><br>| 15632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376575 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3703414 |
| **Household Durables-18.32%** | **Household Durables-18.32%** | **Household Durables-18.32%** |
| Cavco Industries, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;1754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402771 |
| Century Communities, Inc.<br>| &nbsp;&nbsp;6095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293535 |
| Ethan Allen Interiors, Inc.<br>| &nbsp;&nbsp;4819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137101 |
| Green Brick Partners, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138672 |
| Installed Building Products, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424140 |
| iRobot Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300820 |
| La-Z-Boy, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;9164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249536 |
| LGI Homes, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431036 |
| M.D.C. Holdings, Inc.<sup>(c)</sup><br>| 12070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391430 |
| M/I Homes, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;5866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265026 |
| Meritage Homes Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;7745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669245 |
| Sonos, Inc.<sup>(b)(c)</sup><br>| 26952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;472469 |
| Tri Pointe Homes, Inc.<sup>(b)(c)</sup><br>| 21555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397474 |
| Tupperware Brands Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;8170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37827 |
| Universal Electronics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;2539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55528 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4666610 |
| **Internet & Direct Marketing Retail-0.72%** | **Internet & Direct Marketing Retail-0.72%** | **Internet & Direct Marketing Retail-0.72%** |
| Liquidity Services, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95317 |
| PetMed Express, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;4435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87813 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183130 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Leisure Products-2.12%** | **Leisure Products-2.12%** | **Leisure Products-2.12%** |
| Sturm Ruger & Co., Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;3731 | &nbsp;&nbsp;&nbsp;&nbsp;$204944 |
| Vista Outdoor, Inc.<sup>(b)(c)</sup><br>| 11987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540220 |
| **Multiline Retail-0.47%** | **Multiline Retail-0.47%** | **Multiline Retail-0.47%** |
| Big Lots, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;6115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119242 |
| **Specialty Retail-37.38%** | **Specialty Retail-37.38%** | **Specialty Retail-37.38%** |
| Aaron's Co., Inc. (The)<br>| &nbsp;&nbsp;6492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79138 |
| Abercrombie & Fitch Co., Class A<sup>(b)</sup><br>| 10656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255531 |
| Academy Sports & Outdoors, Inc.<sup>(c)</sup><br>| 18015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909397 |
| American Eagle Outfitters, Inc.<sup>(c)</sup><br>| 33380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528072 |
| America's Car-Mart, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;1257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91459 |
| Asbury Automotive Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;4686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879187 |
| Bed Bath & Beyond, Inc.<sup>(b)(c)</sup><br>| 14692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49953 |
| Boot Barn Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;6320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425652 |
| Buckle, Inc. (The)<br>| &nbsp;&nbsp;6244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274424 |
| Caleres, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;7761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187506 |
| Cato Corp. (The), Class A<sup>(c)</sup><br>| &nbsp;&nbsp;3431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35682 |
| Chico's FAS, Inc.<sup>(b)</sup><br>| 26453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155279 |
| Children's Place, Inc. (The)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;2780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98690 |
| Conn's, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;2710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26992 |
| Designer Brands, Inc., Class A<br>| 11902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182101 |
| Genesco, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;2755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143811 |
| Group 1 Automotive, Inc.<br>| &nbsp;&nbsp;3344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646529 |
| Guess?, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;7052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146400 |
| Haverty Furniture Cos., Inc., (Acquired 06/25/2020 - 07/29/2022; Cost $71,882)<sup>(e)</sup><br>| &nbsp;&nbsp;2828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89167 |
| Hibbett, Inc.<br>| &nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182115 |
| Leslie's, Inc.<sup>(b)(c)</sup><br>| 31403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458484 |
| LL Flooring Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;6184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42113 |
| MarineMax, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150253 |
| Monro, Inc.<br>| &nbsp;&nbsp;6803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309332 |
| National Vision Holdings, Inc.<sup>(b)(c)</sup><br>| 16706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675925 |
| ODP Corp. (The)<sup>(b)</sup><br>| &nbsp;&nbsp;9072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436635 |
| Rent-A-Center, Inc.<sup>(c)</sup><br>| 11259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271229 |
| Sally Beauty Holdings, Inc.<sup>(b)(c)</sup><br>| 22615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265952 |
| Shoe Carnival, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;3612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95393 |
| Signet Jewelers Ltd.<sup>(c)</sup><br>| &nbsp;&nbsp;9851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640315 |
| Sleep Number Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;4638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135662 |
| Sonic Automotive, Inc., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;3911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207831 |
| Urban Outfitters, Inc.<sup>(b)(c)</sup><br>| 12776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369737 |
| Zumiez, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;3285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76376 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9522322 |
| **Textiles, Apparel & Luxury Goods-7.26%** | **Textiles, Apparel & Luxury Goods-7.26%** | **Textiles, Apparel & Luxury Goods-7.26%** |
| G-III Apparel Group Ltd.<sup>(b)</sup><br>| &nbsp;&nbsp;9168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198304 |
| Kontoor Brands, Inc.<br>| 10453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454183 |
| Movado Group, Inc.<br>| &nbsp;&nbsp;3387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109028 |
| Oxford Industries, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;3175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358330 |
| Steven Madden Ltd.<br>| 15733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543418 |
| Wolverine World Wide, Inc.<br>| 16640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186368 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849631 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $34,459,775) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $34,459,775) | &nbsp;&nbsp;25460742 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Consumer Discretionary ETF (PSCD)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-0.11%** | **Money Market Funds-0.11%** | **Money Market Funds-0.11%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(f)(g)</sup><br>(Cost $27,155)<br>| &nbsp;&nbsp;&nbsp;&nbsp;27155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27155 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $34,486,930) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.06%<br>(Cost $34,486,930) | &nbsp;&nbsp;25487897 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-32.40%** | **Money Market Funds-32.40%** | **Money Market Funds-32.40%** |
| Invesco Private Government Fund, 3.83%<sup>(f)(g)(h)</sup><br>| 2311187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2311187 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.15%<sup>(f)(g)(h)</sup><br>| 5940363 | &nbsp;&nbsp;$5941551 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $8,251,755) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $8,251,755) | &nbsp;&nbsp;&nbsp;&nbsp;8252738 |
| TOTAL INVESTMENTS IN SECURITIES-132.46%<br>(Cost $42,738,685) | TOTAL INVESTMENTS IN SECURITIES-132.46%<br>(Cost $42,738,685) | &nbsp;&nbsp;33740635 |
| OTHER ASSETS LESS LIABILITIES-(32.46)% | OTHER ASSETS LESS LIABILITIES-(32.46)% | &nbsp;&nbsp;&nbsp;(8267951) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $25472684 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the "1933 Act"). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at November 30, 2022 represented 1.12% of the Fund's Net Assets. |
| <sup>(e)</sup> | Restricted security. The value of this security at November 30, 2022 represented less than 1% of the Fund's Net Assets. |
| <sup>(f)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;$18475 | &nbsp;&nbsp;&nbsp;$131338 | &nbsp;&nbsp;&nbsp;$(122658) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$27155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$81 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;2330277 | &nbsp;&nbsp;&nbsp;&nbsp;2723189 | &nbsp;&nbsp;&nbsp;&nbsp;(2742279) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;2311187 | &nbsp;&nbsp;&nbsp;&nbsp;16,769\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;5992142 | &nbsp;&nbsp;&nbsp;&nbsp;3856585 | &nbsp;&nbsp;&nbsp;&nbsp;(3907767) | &nbsp;&nbsp;&nbsp;&nbsp;549 | &nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;5941551 | &nbsp;&nbsp;&nbsp;&nbsp;45,252\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$8340894 | &nbsp;&nbsp;&nbsp;$6711112 | &nbsp;&nbsp;&nbsp;$(6772704) | &nbsp;&nbsp;&nbsp;$549 | &nbsp;&nbsp;&nbsp;$42 | &nbsp;&nbsp;&nbsp;$8279893 | &nbsp;&nbsp;&nbsp;$62102 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(g)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(h)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Consumer Staples ETF (PSCC)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** | **Common Stocks & Other Equity Interests-99.99%** |
| **Beverages-6.38%** | **Beverages-6.38%** | **Beverages-6.38%** |
| MGP Ingredients, Inc.<br>| &nbsp;&nbsp;19107 | &nbsp;&nbsp;$2389521 |
| National Beverage Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;28960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3881830 |
| **Food & Staples Retailing-16.86%** | **Food & Staples Retailing-16.86%** | **Food & Staples Retailing-16.86%** |
| Andersons, Inc. (The)<br>| &nbsp;&nbsp;39504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520904 |
| Chefs' Warehouse, Inc. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;42263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641917 |
| PriceSmart, Inc.<br>| &nbsp;&nbsp;31096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209060 |
| SpartanNash Co.<br>| &nbsp;&nbsp;44836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472863 |
| United Natural Foods, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;71521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3410121 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10254865 |
| **Food Products-40.86%** | **Food Products-40.86%** | **Food Products-40.86%** |
| B&G Foods, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;88951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181269 |
| Calavo Growers, Inc.<br>| &nbsp;&nbsp;22020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769819 |
| Cal-Maine Foods, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;46575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714391 |
| Fresh Del Monte Produce, Inc.<br>| &nbsp;&nbsp;37995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051702 |
| Hain Celestial Group, Inc. (The)<sup>(b)(c)</sup><br>| 111448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088536 |
| Hostess Brands, Inc.<sup>(c)</sup><br>| 167474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4421314 |
| J&J Snack Foods Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;18367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012555 |
| John B. Sanfilippo & Son, Inc.<br>| &nbsp;&nbsp;11082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938535 |
| Seneca Foods Corp., Class A<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;6953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446939 |
| Simply Good Foods Co. (The)<sup>(b)(c)</sup><br>| 104677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176612 |
| Tootsie Roll Industries, Inc.<br>| &nbsp;&nbsp;22051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991192 |
| TreeHouse Foods, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;61886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059025 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;24851889 |
| **Household Products-8.62%** | **Household Products-8.62%** | **Household Products-8.62%** |
| Central Garden & Pet Co.<sup>(c)</sup><br>| &nbsp;&nbsp;11788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483898 |
| Central Garden & Pet Co., Class A<sup>(b)(c)</sup><br>| &nbsp;&nbsp;50213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1961822 |
| WD-40 Co.<sup>(b)</sup><br>| &nbsp;&nbsp;16720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5246320 |
| **Personal Products-21.43%** | **Personal Products-21.43%** | **Personal Products-21.43%** |
| Edgewell Personal Care Co.<br>| &nbsp;&nbsp;59046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2551378 |
| elf Beauty, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;59713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3281826 |
| Inter Parfums, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;22143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110006 |
| Medifast, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;13675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723734 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Personal Products-(continued)** | **Personal Products-(continued)** | **Personal Products-(continued)** |
| Nu Skin Enterprises, Inc., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62528 | &nbsp;&nbsp;&nbsp;$2608043 |
| USANA Health Sciences, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760598 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13035585 |
| **Tobacco-5.84%** | **Tobacco-5.84%** | **Tobacco-5.84%** |
| Universal Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737690 |
| Vector Group Ltd.<br>| &nbsp;&nbsp;&nbsp;&nbsp;163302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812652 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550342 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $57,273,021) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $57,273,021) | &nbsp;&nbsp;&nbsp;60820831 |
| **Money Market Funds-0.00%** | **Money Market Funds-0.00%** | **Money Market Funds-0.00%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(d)(e)</sup><br>(Cost $2,461)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.99%<br>(Cost $57,275,482) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.99%<br>(Cost $57,275,482) | &nbsp;&nbsp;&nbsp;60823292 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-30.91%** | **Money Market Funds-30.91%** | **Money Market Funds-30.91%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;5264390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5264390 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 13530729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13533435 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $18,795,137) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $18,795,137) | &nbsp;&nbsp;&nbsp;18797825 |
| TOTAL INVESTMENTS IN SECURITIES-130.90%<br>(Cost $76,070,619) | TOTAL INVESTMENTS IN SECURITIES-130.90%<br>(Cost $76,070,619) | &nbsp;&nbsp;&nbsp;79621117 |
| OTHER ASSETS LESS LIABILITIES-(30.90)% | OTHER ASSETS LESS LIABILITIES-(30.90)% | &nbsp;&nbsp;(18796948) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $60824169 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48841 | &nbsp;&nbsp;&nbsp;&nbsp;$324263 | &nbsp;&nbsp;&nbsp;&nbsp;$(370643) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$180 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Consumer Staples ETF (PSCC)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$4082330 | &nbsp;&nbsp;&nbsp;$10640976 | &nbsp;&nbsp;&nbsp;$(9458916) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$5264390 | &nbsp;&nbsp;&nbsp;$37,771\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;10750140 | &nbsp;&nbsp;&nbsp;&nbsp;24480249 | &nbsp;&nbsp;&nbsp;&nbsp;(21698535) | &nbsp;&nbsp;&nbsp;&nbsp;1966 | &nbsp;&nbsp;&nbsp;&nbsp;(385) | &nbsp;&nbsp;&nbsp;&nbsp;13533435 | &nbsp;&nbsp;&nbsp;&nbsp;102,178\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$14881311 | &nbsp;&nbsp;&nbsp;$35445488 | &nbsp;&nbsp;&nbsp;$(31528094) | &nbsp;&nbsp;&nbsp;$1966 | &nbsp;&nbsp;&nbsp;$(385) | &nbsp;&nbsp;&nbsp;$18800286 | &nbsp;&nbsp;&nbsp;$140129 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Energy ETF (PSCE)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.22%** | **Common Stocks & Other Equity Interests-100.22%** | **Common Stocks & Other Equity Interests-100.22%** |
| **Energy Equipment & Services-46.59%** | **Energy Equipment & Services-46.59%** | **Energy Equipment & Services-46.59%** |
| Archrock, Inc.<sup>(b)</sup><br>| 535344 | &nbsp;&nbsp;$4662846 |
| Bristow Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;93864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440464 |
| Core Laboratories N.V.<br>| 185298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4017260 |
| DMC Global, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;74206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364648 |
| Dril-Quip, Inc.<sup>(b)(c)</sup><br>| 137494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3236609 |
| Helix Energy Solutions Group, Inc.<sup>(b)(c)</sup><br>| 570494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3639752 |
| Helmerich & Payne, Inc.<br>| 374010 | &nbsp;&nbsp;&nbsp;&nbsp;19104431 |
| Nabors Industries Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;35788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5666314 |
| Oceaneering International, Inc.<sup>(b)(c)</sup><br>| 401035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6091722 |
| Oil States International, Inc.<sup>(b)(c)</sup><br>| 255593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725253 |
| Patterson-UTI Energy, Inc.<br>| 461056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8275955 |
| ProPetro Holding Corp.<sup>(c)</sup><br>| 350592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3849500 |
| RPC, Inc.<br>| 332836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082061 |
| US Silica Holdings, Inc.<sup>(b)(c)</sup><br>| 302221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956073 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;71112888 |
| **Oil, Gas & Consumable Fuels-53.63%** | **Oil, Gas & Consumable Fuels-53.63%** | **Oil, Gas & Consumable Fuels-53.63%** |
| Callon Petroleum Co.<sup>(b)(c)</sup><br>| 163541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6855639 |
| Civitas Resources, Inc.<br>| 184250 | &nbsp;&nbsp;&nbsp;&nbsp;12411080 |
| CONSOL Energy, Inc.<br>| 103881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045583 |
| Dorian LPG Ltd.<br>| 126831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2469400 |
| Green Plains, Inc.<sup>(b)(c)</sup><br>| 181397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6269080 |
| Laredo Petroleum, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;68415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4366929 |
| Par Pacific Holdings, Inc.<sup>(b)(c)</sup><br>| 221456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5188714 |
| Ranger Oil Corp., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;79239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3452443 |
| REX American Resources Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;62874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855412 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Oil, Gas & Consumable Fuels-(continued)** | **Oil, Gas & Consumable Fuels-(continued)** | **Oil, Gas & Consumable Fuels-(continued)** |
| SM Energy Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;435477 | &nbsp;&nbsp;$18773414 |
| Talos Energy, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;260827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125251 |
| World Fuel Services Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;247665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7046069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81859014 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.22%<br>(Cost $148,224,690) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.22%<br>(Cost $148,224,690) | &nbsp;&nbsp;152971902 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-10.73%** | **Money Market Funds-10.73%** | **Money Market Funds-10.73%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;4588237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4588237 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 11791603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11793961 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $16,380,169) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $16,380,169) | &nbsp;&nbsp;&nbsp;&nbsp;16382198 |
| TOTAL INVESTMENTS IN SECURITIES-110.95%<br>(Cost $164,604,859) | TOTAL INVESTMENTS IN SECURITIES-110.95%<br>(Cost $164,604,859) | &nbsp;&nbsp;169354100 |
| OTHER ASSETS LESS LIABILITIES-(10.95)% | OTHER ASSETS LESS LIABILITIES-(10.95)% | &nbsp;&nbsp;&nbsp;(16717863) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $152636237 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(c)</sup> | Non-income producing security. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$2106697 | &nbsp;&nbsp;&nbsp;$(2106697) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$680 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;12461522 | &nbsp;&nbsp;&nbsp;&nbsp;12400121 | &nbsp;&nbsp;&nbsp;&nbsp;(20273406) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4588237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54,014\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;32043914 | &nbsp;&nbsp;&nbsp;&nbsp;27994551 | &nbsp;&nbsp;&nbsp;&nbsp;(48245506) | &nbsp;&nbsp;&nbsp;&nbsp;795 | &nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;11793961 | &nbsp;&nbsp;&nbsp;&nbsp;145,874\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$44505436 | &nbsp;&nbsp;&nbsp;$42501369 | &nbsp;&nbsp;&nbsp;$(70625609) | &nbsp;&nbsp;&nbsp;$795 | &nbsp;&nbsp;&nbsp;$207 | &nbsp;&nbsp;&nbsp;$16382198 | &nbsp;&nbsp;&nbsp;$200568 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Financials ETF (PSCF)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** | **Common Stocks & Other Equity Interests-99.92%** |
| **Banks-41.22%** | **Banks-41.22%** | **Banks-41.22%** |
| Ameris Bancorp<br>| &nbsp;&nbsp;9295 | &nbsp;&nbsp;&nbsp;&nbsp;$491520 |
| Banc of California, Inc.<br>| &nbsp;&nbsp;7857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133333 |
| BancFirst Corp.<br>| &nbsp;&nbsp;2476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252403 |
| Bancorp, Inc. (The)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;8067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241768 |
| BankUnited, Inc.<br>| 11105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407776 |
| Banner Corp.<br>| &nbsp;&nbsp;4873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344131 |
| Berkshire Hills Bancorp, Inc.<br>| &nbsp;&nbsp;6548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204167 |
| Brookline Bancorp, Inc.<br>| 10799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153562 |
| Central Pacific Financial Corp.<br>| &nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81687 |
| City Holding Co.<sup>(c)</sup><br>| &nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216376 |
| Columbia Banking System, Inc.<sup>(c)</sup><br>| 11228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382426 |
| Community Bank System, Inc.<br>| &nbsp;&nbsp;7660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498972 |
| Customers Bancorp, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138632 |
| CVB Financial Corp.<br>| 18752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537807 |
| Dime Community Bancshares, Inc.<br>| &nbsp;&nbsp;4566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162869 |
| Eagle Bancorp, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;4585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216229 |
| FB Financial Corp.<br>| &nbsp;&nbsp;5023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215035 |
| First Bancorp (Puerto Rico)<br>| 26808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412307 |
| First Bancorp/Southern Pines NC<br>| &nbsp;&nbsp;5088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247429 |
| First Commonwealth Financial Corp.<br>| 13359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196644 |
| First Financial Bancorp<br>| 13557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358312 |
| First Hawaiian, Inc.<br>| 18206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483369 |
| Hanmi Financial Corp.<br>| &nbsp;&nbsp;4293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116126 |
| Heritage Financial Corp.<br>| &nbsp;&nbsp;4943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162625 |
| Hilltop Holdings, Inc.<br>| &nbsp;&nbsp;6562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195548 |
| HomeStreet, Inc.<br>| &nbsp;&nbsp;2505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68386 |
| Hope Bancorp, Inc.<br>| 17053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232262 |
| Independent Bank Corp.<br>| &nbsp;&nbsp;6543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592272 |
| Independent Bank Group, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332997 |
| Lakeland Financial Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;3624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286151 |
| National Bank Holdings Corp., Class A<br>| &nbsp;&nbsp;4303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200133 |
| NBT Bancorp, Inc.<br>| &nbsp;&nbsp;6122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282592 |
| Northwest Bancshares, Inc.<br>| 18135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277284 |
| OFG Bancorp (Puerto Rico)<br>| &nbsp;&nbsp;6803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197083 |
| Pacific Premier Bancorp, Inc.<br>| 13538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500229 |
| Park National Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;2066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312648 |
| Pathward Financial, Inc.<br>| &nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178125 |
| Preferred Bank<br>| &nbsp;&nbsp;1918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144982 |
| Renasant Corp.<br>| &nbsp;&nbsp;7978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325263 |
| S&T Bancorp, Inc.<br>| &nbsp;&nbsp;5595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209365 |
| Seacoast Banking Corp. of Florida<sup>(c)</sup><br>| &nbsp;&nbsp;8769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301478 |
| ServisFirst Bancshares, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;6963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527935 |
| Simmons First National Corp., Class A<br>| 18322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425254 |
| Southside Bancshares, Inc.<br>| &nbsp;&nbsp;4295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156080 |
| Stellar Bancorp, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;6416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216925 |
| Tompkins Financial Corp.<br>| &nbsp;&nbsp;1776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148367 |
| Triumph Financial, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;3291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196670 |
| Trustmark Corp.<br>| &nbsp;&nbsp;8730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319343 |
| United Community Banks, Inc.<br>| 15118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589148 |
| Veritex Holdings, Inc.<br>| &nbsp;&nbsp;7697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251384 |
| Westamerica Bancorporation<br>| &nbsp;&nbsp;3838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236996 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;14360405 |
| **Capital Markets-3.74%** | **Capital Markets-3.74%** | **Capital Markets-3.74%** |
| B. Riley Financial, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;2232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98030 |
| Blucora, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;6725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168461 |
| Brightsphere Investment Group, Inc.<br>| &nbsp;&nbsp;4551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92658 |
| Donnelley Financial Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;3598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137372 |
| Piper Sandler Cos.<br>| &nbsp;&nbsp;1959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281430 |
| StoneX Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;2456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249210 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Capital Markets-(continued)** | **Capital Markets-(continued)** | **Capital Markets-(continued)** |
| Virtus Investment Partners, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;$186958 |
| WisdomTree, Inc.<br>| 15688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87382 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1301501 |
| **Consumer Finance-3.61%** | **Consumer Finance-3.61%** | **Consumer Finance-3.61%** |
| Bread Financial Holdings, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;7122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292216 |
| Encore Capital Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;3363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169495 |
| Enova International, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;4509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181893 |
| EZCORP, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;7559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75741 |
| Green Dot Corp., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;6735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137259 |
| LendingTree, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;1530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36644 |
| PRA Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188677 |
| PROG Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;7107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139937 |
| World Acceptance Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36306 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1258168 |
| **Equity REITs-27.68%** | **Equity REITs-27.68%** | **Equity REITs-27.68%** |
| Acadia Realty Trust<br>| 13567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208660 |
| Agree Realty Corp.<br>| 11376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795751 |
| Alexander & Baldwin, Inc.<br>| 10393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205262 |
| American Assets Trust, Inc.<br>| &nbsp;&nbsp;7436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217800 |
| Armada Hoffler Properties, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;9535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115850 |
| Brandywine Realty Trust<br>| 24159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166939 |
| CareTrust REIT, Inc.<br>| 13870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274626 |
| Centerspace<sup>(c)</sup><br>| &nbsp;&nbsp;2166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139707 |
| Chatham Lodging Trust<sup>(b)</sup><br>| &nbsp;&nbsp;6872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91879 |
| Community Healthcare Trust, Inc.<br>| &nbsp;&nbsp;3287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115900 |
| DiamondRock Hospitality Co.<br>| 30144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283655 |
| Diversified Healthcare Trust<br>| 33672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33335 |
| Easterly Government Properties, Inc.<br>| 12981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205619 |
| Elme Communities<sup>(c)</sup><br>| 12464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246289 |
| Essential Properties Realty Trust, Inc.<br>| 20146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467589 |
| Four Corners Property Trust, Inc.<br>| 11623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315448 |
| Franklin Street Properties Corp.<br>| 12939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37782 |
| Getty Realty Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;6082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200828 |
| Global Net Lease, Inc.<sup>(c)</sup><br>| 14829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200636 |
| Hersha Hospitality Trust, Class A<br>| &nbsp;&nbsp;4628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44568 |
| Hudson Pacific Properties, Inc.<br>| 18421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212947 |
| Industrial Logistics Properties Trust<sup>(c)</sup><br>| &nbsp;&nbsp;9212 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37493 |
| Innovative Industrial Properties, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;3990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483628 |
| iStar, Inc.<br>| 12024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96553 |
| LTC Properties, Inc.<br>| &nbsp;&nbsp;5782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227175 |
| LXP Industrial Trust<sup>(c)</sup><br>| 39875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429055 |
| NexPoint Residential Trust, Inc.<br>| &nbsp;&nbsp;3214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154561 |
| Office Properties Income Trust<sup>(c)</sup><br>| &nbsp;&nbsp;6823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104324 |
| Orion Office REIT, Inc.<br>| &nbsp;&nbsp;7975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74088 |
| Outfront Media, Inc.<br>| 20841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381182 |
| Retail Opportunity Investments Corp.<br>| 17807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271557 |
| RPT Realty<br>| 11994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134333 |
| Safehold, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102518 |
| Saul Centers, Inc.<br>| &nbsp;&nbsp;1816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78270 |
| Service Properties Trust<br>| 23255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182552 |
| SITE Centers Corp.<br>| 26602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361521 |
| Summit Hotel Properties, Inc.<br>| 15052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128694 |
| Sunstone Hotel Investors, Inc.<sup>(c)</sup><br>| 30273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332700 |
| Tanger Factory Outlet Centers, Inc.<sup>(c)</sup><br>| 14908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289960 |
| Uniti Group, Inc.<br>| 33823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257731 |
| Universal Health Realty Income Trust<br>| &nbsp;&nbsp;1787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93800 |
| Urban Edge Properties<sup>(c)</sup><br>| 16799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264248 |
| Urstadt Biddle Properties, Inc., Class A<br>| &nbsp;&nbsp;4249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81283 |
| Veris Residential, Inc.<sup>(b)</sup><br>| 11157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179181 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Financials ETF (PSCF)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Equity REITs-(continued)** | **Equity REITs-(continued)** | **Equity REITs-(continued)** |
| Whitestone REIT<br>| &nbsp;&nbsp;6534 | &nbsp;&nbsp;&nbsp;&nbsp;$63576 |
| Xenia Hotels & Resorts, Inc.<sup>(c)</sup><br>| 16304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9642461 |
| **Insurance-10.17%** | **Insurance-10.17%** | **Insurance-10.17%** |
| Ambac Financial Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;6332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102958 |
| American Equity Investment Life Holding Co.<br>| 10123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410083 |
| AMERISAFE, Inc.<br>| &nbsp;&nbsp;2714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161130 |
| Assured Guaranty Ltd.<br>| &nbsp;&nbsp;8825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587480 |
| Employers Holdings, Inc.<br>| &nbsp;&nbsp;3846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178724 |
| Genworth Financial, Inc., Class A<sup>(b)</sup><br>| 71962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361969 |
| HCI Group, Inc.<br>| &nbsp;&nbsp;1006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37645 |
| Horace Mann Educators Corp.<br>| &nbsp;&nbsp;5839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225327 |
| James River Group Holdings Ltd.<br>| &nbsp;&nbsp;5273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126657 |
| Mercury General Corp.<br>| &nbsp;&nbsp;3742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135760 |
| Palomar Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;3605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226178 |
| ProAssurance Corp.<br>| &nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151924 |
| Safety Insurance Group, Inc.<br>| &nbsp;&nbsp;2109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193480 |
| SiriusPoint Ltd. (Bermuda)<sup>(b)</sup><br>| 11962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77992 |
| Stewart Information Services Corp.<br>| &nbsp;&nbsp;3817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168940 |
| Trupanion, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;4994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261036 |
| United Fire Group, Inc.<br>| &nbsp;&nbsp;3049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93147 |
| Universal Insurance Holdings, Inc.<br>| &nbsp;&nbsp;3893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42784 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3543214 |
| **Mortgage REITs-4.94%** | **Mortgage REITs-4.94%** | **Mortgage REITs-4.94%** |
| Apollo Commercial Real Estate Finance, Inc.<br>| 18465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228227 |
| ARMOUR Residential REIT, Inc.<br>| 16143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94921 |
| Ellington Financial, Inc.<br>| &nbsp;&nbsp;8020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109393 |
| Franklin BSP Realty Trust, Inc.<sup>(c)</sup><br>| 11798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172251 |
| Granite Point Mortgage Trust, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;7372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47255 |
| Invesco Mortgage Capital, Inc.<sup>(d)</sup><br>| &nbsp;&nbsp;4652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61081 |
| KKR Real Estate Finance Trust, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;8193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135594 |
| New York Mortgage Trust, Inc.<br>| 53190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149464 |
| PennyMac Mortgage Investment Trust<sup>(c)</sup><br>| 12957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197853 |
| Ready Capital Corp.<sup>(c)</sup><br>| 14566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195184 |
| Redwood Trust, Inc.<br>| 16444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129908 |
| Two Harbors Investment Corp.<sup>(c)</sup><br>| 12313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201933 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1723064 |
| **Real Estate Management & Development-1.53%** | **Real Estate Management & Development-1.53%** | **Real Estate Management & Development-1.53%** |
| Anywhere Real Estate, Inc.<sup>(b)(c)</sup><br>| 16107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121608 |
| Douglas Elliman, Inc.<br>| &nbsp;&nbsp;9499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39136 |
| Marcus & Millichap, Inc.<br>| &nbsp;&nbsp;3545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132016 |
| RE/MAX Holdings, Inc., Class A<br>| &nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55016 |
| St. Joe Co. (The)<sup>(c)</sup><br>| &nbsp;&nbsp;4811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184886 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532662 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Thrifts & Mortgage Finance-7.03%** | **Thrifts & Mortgage Finance-7.03%** | **Thrifts & Mortgage Finance-7.03%** |
| Axos Financial, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7596 | &nbsp;&nbsp;&nbsp;&nbsp;$304675 |
| Capitol Federal Financial, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;18186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152217 |
| Mr. Cooper Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;10223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461671 |
| NMI Holdings, Inc., Class A<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;12074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259953 |
| Northfield Bancorp, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95652 |
| Provident Financial Services, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;10703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241139 |
| TrustCo Bank Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104635 |
| Walker & Dunlop, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391446 |
| WSFS Financial Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439840 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451228 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $37,337,712) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $37,337,712) | &nbsp;&nbsp;34812703 |
| **Money Market Funds-0.09%** | **Money Market Funds-0.09%** | **Money Market Funds-0.09%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(d)(e)</sup><br>(Cost $30,362)<br>| &nbsp;&nbsp;&nbsp;&nbsp;30362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30362 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $37,368,074) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.01%<br>(Cost $37,368,074) | &nbsp;&nbsp;34843065 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-19.08%** | **Money Market Funds-19.08%** | **Money Market Funds-19.08%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| 1862122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862122 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 4786104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4787061 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $6,648,305) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $6,648,305) | &nbsp;&nbsp;&nbsp;&nbsp;6649183 |
| TOTAL INVESTMENTS IN SECURITIES-119.09%<br>(Cost $44,016,379) | TOTAL INVESTMENTS IN SECURITIES-119.09%<br>(Cost $44,016,379) | &nbsp;&nbsp;41492248 |
| OTHER ASSETS LESS LIABILITIES-(19.09)% | OTHER ASSETS LESS LIABILITIES-(19.09)% | &nbsp;&nbsp;&nbsp;(6651121) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $34841127 |

---

See accompanying notes which are an integral part of this schedule.

------

November 30, 2022

(Unaudited)

Investment Abbreviations: <br> REIT -Real Estate Investment Trust

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;Invesco Mortgage Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;$85870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(9944) | &nbsp;&nbsp;&nbsp;$21852 | &nbsp;&nbsp;&nbsp;$(36697) | &nbsp;&nbsp;&nbsp;&nbsp;$61081 | &nbsp;&nbsp;&nbsp;$3214 |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(437019) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;2426621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3991738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4556237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1862122 | &nbsp;&nbsp;&nbsp;&nbsp;15,892\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;6239883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9388491 | &nbsp;&nbsp;&nbsp;&nbsp;(10841838) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(93) | &nbsp;&nbsp;&nbsp;&nbsp;4787061 | &nbsp;&nbsp;&nbsp;&nbsp;42,705\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$8771735 | &nbsp;&nbsp;&nbsp;$13828249 | &nbsp;&nbsp;&nbsp;$(15845038) | &nbsp;&nbsp;&nbsp;$22470 | &nbsp;&nbsp;&nbsp;$(36790) | &nbsp;&nbsp;&nbsp;$6740626 | &nbsp;&nbsp;&nbsp;$61965 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Health Care ETF (PSCH)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.08%** | **Common Stocks & Other Equity Interests-100.08%** | **Common Stocks & Other Equity Interests-100.08%** |
| **Biotechnology-24.95%** | **Biotechnology-24.95%** | **Biotechnology-24.95%** |
| Anika Therapeutics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;47903 | &nbsp;&nbsp;$1510861 |
| Arcus Biosciences, Inc.<sup>(b)(c)</sup><br>| 171114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018079 |
| Avid Bioservices, Inc.<sup>(b)(c)</sup><br>| 203613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188580 |
| Catalyst Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 311478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5223486 |
| Coherus Biosciences, Inc.<sup>(b)(c)</sup><br>| 211889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453559 |
| Cytokinetics, Inc.<sup>(b)(c)</sup><br>| 309998 | &nbsp;&nbsp;&nbsp;&nbsp;13174915 |
| Dynavax Technologies Corp.<sup>(b)(c)</sup><br>| 387234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4805574 |
| Eagle Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;34897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1267459 |
| Emergent BioSolutions, Inc.<sup>(b)(c)</sup><br>| 146074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1796710 |
| Enanta Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;64170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810004 |
| Ironwood Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| 438899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5315067 |
| iTeos Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;80652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1625138 |
| Ligand Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;52661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838987 |
| Myriad Genetics, Inc.<sup>(b)(c)</sup><br>| 265507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5379172 |
| OmniAb, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35 |
| OmniAb, Inc.<sup>(b)(d)</sup><br>| &nbsp;&nbsp;20054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| OmniAb, Inc.<sup>(b)(d)</sup><br>| &nbsp;&nbsp;20054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
| Organogenesis Holdings, Inc.<sup>(b)(c)</sup><br>| 231662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634754 |
| REGENXBIO, Inc.<sup>(b)(c)</sup><br>| 123907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961377 |
| uniQure N.V. (Netherlands)<sup>(b)</sup><br>| 135052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573476 |
| Vanda Pharmaceuticals, Inc.<sup>(b)</sup><br>| 186165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2031060 |
| Vericel Corp.<sup>(b)(c)</sup><br>| 155300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3545499 |
| Vir Biotechnology, Inc.<sup>(b)(c)</sup><br>| 248905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7024099 |
| Xencor, Inc.<sup>(b)(c)</sup><br>| 196621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5843576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;83021467 |
| **Health Care Equipment & Supplies-23.50%** | **Health Care Equipment & Supplies-23.50%** | **Health Care Equipment & Supplies-23.50%** |
| AngioDynamics, Inc.<sup>(b)</sup><br>| 127867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655878 |
| Artivion, Inc.<sup>(b)(c)</sup><br>| 132477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694381 |
| Avanos Medical, Inc.<sup>(b)(c)</sup><br>| 153065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4117448 |
| Cardiovascular Systems, Inc.<sup>(b)</sup><br>| 134299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1881529 |
| CONMED Corp.<sup>(c)</sup><br>| 100308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8310518 |
| Cutera, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;58643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790234 |
| Embecta Corp.<sup>(c)</sup><br>| 190351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6266355 |
| Glaukos Corp.<sup>(b)(c)</sup><br>| 156708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7297891 |
| Heska Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;33389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2148582 |
| Inogen, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;75100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1676232 |
| Integer Holdings Corp.<sup>(b)(c)</sup><br>| 109049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8104522 |
| LeMaitre Vascular, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;63668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982846 |
| Meridian Bioscience, Inc.<sup>(b)</sup><br>| 144046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4609472 |
| Merit Medical Systems, Inc.<sup>(b)</sup><br>| 186916 | &nbsp;&nbsp;&nbsp;&nbsp;13457952 |
| Mesa Laboratories, Inc.<br>| &nbsp;&nbsp;16406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775403 |
| OraSure Technologies, Inc.<sup>(b)</sup><br>| 238540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202241 |
| Orthofix Medical, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;65582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179820 |
| SurModics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;45936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1659668 |
| Varex Imaging Corp.<sup>(b)(c)</sup><br>| 131320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789237 |
| Zimvie, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;68395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611451 |
| Zynex, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;73122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003234 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;78214894 |
| **Health Care Providers & Services-28.51%** | **Health Care Providers & Services-28.51%** | **Health Care Providers & Services-28.51%** |
| AdaptHealth Corp.<sup>(b)(c)</sup><br>| 252505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633387 |
| Addus HomeCare Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;52944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5838664 |
| AMN Healthcare Services, Inc.<sup>(b)(c)</sup><br>| 142486 | &nbsp;&nbsp;&nbsp;&nbsp;17625518 |
| Apollo Medical Holdings, Inc.<sup>(b)(c)</sup><br>| 129235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3678028 |
| Community Health Systems, Inc.<sup>(b)(c)</sup><br>| 410854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1409229 |
| CorVel Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;30369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4645546 |
| Cross Country Healthcare, Inc.<sup>(b)(c)</sup><br>| 119611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4279682 |
| Enhabit, Inc.<sup>(b)</sup><br>| 162949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331800 |
| Ensign Group, Inc. (The)<sup>(c)</sup><br>| 182065 | &nbsp;&nbsp;&nbsp;&nbsp;17296175 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Health Care Providers & Services-(continued)** | **Health Care Providers & Services-(continued)** | **Health Care Providers & Services-(continued)** |
| Fulgent Genetics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66763 | &nbsp;&nbsp;&nbsp;&nbsp;$2421494 |
| Joint Corp. (The)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709030 |
| ModivCare, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206973 |
| Owens & Minor, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;250986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5172822 |
| Pediatrix Medical Group, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;277696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4437582 |
| Pennant Group, Inc. (The)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954310 |
| RadNet, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;160479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172670 |
| Select Medical Holdings Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;340014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8357544 |
| US Physical Therapy, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3701372 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94871826 |
| **Health Care Technology-5.26%** | **Health Care Technology-5.26%** | **Health Care Technology-5.26%** |
| Allscripts Healthcare Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;364929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6911755 |
| Computer Programs & Systems, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435038 |
| HealthStream, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2015287 |
| NextGen Healthcare, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;181477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3774722 |
| OptimizeRx Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247516 |
| Simulations Plus, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129432 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17513750 |
| **Life Sciences Tools & Services-2.11%** | **Life Sciences Tools & Services-2.11%** | **Life Sciences Tools & Services-2.11%** |
| BioLife Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;111947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369918 |
| NeoGenomics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;414096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4642016 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7011934 |
| **Pharmaceuticals-15.75%** | **Pharmaceuticals-15.75%** | **Pharmaceuticals-15.75%** |
| Amphastar Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;125941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3714000 |
| ANI Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1663276 |
| Cara Therapeutics, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;148040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1746872 |
| Collegium Pharmaceutical, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;112008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449615 |
| Corcept Therapeutics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;313926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7936049 |
| Harmony Biosciences Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5822973 |
| Innoviva, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;206495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2711279 |
| Nektar Therapeutics<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;620481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737347 |
| Pacira BioSciences, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;150904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7281118 |
| Phibro Animal Health Corp., Class A<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821889 |
| Prestige Consumer Healthcare, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;163856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10070590 |
| Supernus Pharmaceuticals, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;176107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6466649 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52421657 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $373,252,084) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.08%<br>(Cost $373,252,084) | &nbsp;&nbsp;&nbsp;333055528 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-31.85%** | **Money Market Funds-31.85%** | **Money Market Funds-31.85%** |
| Invesco Private Government Fund, 3.83%<sup>(e)(f)(g)</sup><br>| 29661809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29661809 |
| Invesco Private Prime Fund, 4.15%<sup>(e)(f)(g)</sup><br>| 76328566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76343829 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $105,994,818) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $105,994,818) | &nbsp;&nbsp;&nbsp;106005638 |
| TOTAL INVESTMENTS IN SECURITIES-131.93%<br>(Cost $479,246,902) | TOTAL INVESTMENTS IN SECURITIES-131.93%<br>(Cost $479,246,902) | &nbsp;&nbsp;&nbsp;439061166 |
| OTHER ASSETS LESS LIABILITIES-(31.93)% | OTHER ASSETS LESS LIABILITIES-(31.93)% | &nbsp;&nbsp;(106251315) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $332809851 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Health Care ETF (PSCH)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| <sup>(e)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1214 | &nbsp;&nbsp;&nbsp;$7387190 | &nbsp;&nbsp;&nbsp;$(7388404) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$3111 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28445085 | &nbsp;&nbsp;&nbsp;&nbsp;23660761 | &nbsp;&nbsp;&nbsp;&nbsp;(22444037) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29661809 | &nbsp;&nbsp;&nbsp;&nbsp;229,019\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73144505 | &nbsp;&nbsp;&nbsp;&nbsp;53636237 | &nbsp;&nbsp;&nbsp;&nbsp;(50444996) | &nbsp;&nbsp;&nbsp;&nbsp;6347 | &nbsp;&nbsp;&nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76343829 | &nbsp;&nbsp;&nbsp;&nbsp;616,295\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$101590804 | &nbsp;&nbsp;&nbsp;$84684188 | &nbsp;&nbsp;&nbsp;$(80277437) | &nbsp;&nbsp;&nbsp;$6347 | &nbsp;&nbsp;&nbsp;$1736 | &nbsp;&nbsp;&nbsp;$106005638 | &nbsp;&nbsp;&nbsp;$848425 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(f)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(g)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Industrials ETF (PSCI)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.89%** | **Common Stocks & Other Equity Interests-99.89%** | **Common Stocks & Other Equity Interests-99.89%** |
| **Aerospace & Defense-7.72%** | **Aerospace & Defense-7.72%** | **Aerospace & Defense-7.72%** |
| AAR Corp.<sup>(b)</sup><br>| 15813 | &nbsp;&nbsp;&nbsp;$736253 |
| Aerojet Rocketdyne Holdings, Inc.<sup>(b)</sup><br>| 35606 | &nbsp;&nbsp;&nbsp;&nbsp;1851512 |
| AeroVironment, Inc.<sup>(b)</sup><br>| 11748 | &nbsp;&nbsp;&nbsp;&nbsp;1080699 |
| Kaman Corp.<br>| 13168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268232 |
| Moog, Inc., Class A<br>| 13639 | &nbsp;&nbsp;&nbsp;&nbsp;1187002 |
| National Presto Industries, Inc.<br>| &nbsp;&nbsp;2388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165059 |
| Park Aerospace Corp.<br>| &nbsp;&nbsp;9136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120869 |
| Triumph Group, Inc.<sup>(b)</sup><br>| 30543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349717 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5759343 |
| **Air Freight & Logistics-5.35%** | **Air Freight & Logistics-5.35%** | **Air Freight & Logistics-5.35%** |
| Atlas Air Worldwide Holdings, Inc.<sup>(b)(c)</sup><br>| 12136 | &nbsp;&nbsp;&nbsp;&nbsp;1222945 |
| Forward Air Corp.<br>| 12646 | &nbsp;&nbsp;&nbsp;&nbsp;1421031 |
| Hub Group, Inc., Class A<sup>(b)</sup><br>| 16006 | &nbsp;&nbsp;&nbsp;&nbsp;1346905 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3990881 |
| **Airlines-2.26%** | **Airlines-2.26%** | **Airlines-2.26%** |
| Allegiant Travel Co.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;7265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600162 |
| Hawaiian Holdings, Inc.<sup>(b)(c)</sup><br>| 24157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335782 |
| SkyWest, Inc.<sup>(b)</sup><br>| 23782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438778 |
| Sun Country Airlines Holdings, Inc.<sup>(b)(c)</sup><br>| 15307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309201 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1683923 |
| **Building Products-11.69%** | **Building Products-11.69%** | **Building Products-11.69%** |
| AAON, Inc.<br>| 19778 | &nbsp;&nbsp;&nbsp;&nbsp;1567604 |
| American Woodmark Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;7801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422814 |
| Apogee Enterprises, Inc.<br>| 10416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502572 |
| Gibraltar Industries, Inc.<sup>(b)</sup><br>| 14869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752520 |
| Griffon Corp.<br>| 22266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786213 |
| Insteel Industries, Inc.<br>| &nbsp;&nbsp;9170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270423 |
| PGT Innovations, Inc.<sup>(b)</sup><br>| 28182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557722 |
| Quanex Building Products Corp.<br>| 15664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372333 |
| Resideo Technologies, Inc.<sup>(b)</sup><br>| 68490 | &nbsp;&nbsp;&nbsp;&nbsp;1109538 |
| UFP Industries, Inc.<br>| 29019 | &nbsp;&nbsp;&nbsp;&nbsp;2375496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;8717235 |
| **Commercial Services & Supplies-13.22%** | **Commercial Services & Supplies-13.22%** | **Commercial Services & Supplies-13.22%** |
| ABM Industries, Inc.<br>| 31456 | &nbsp;&nbsp;&nbsp;&nbsp;1484094 |
| Brady Corp., Class A<br>| 21948 | &nbsp;&nbsp;&nbsp;&nbsp;1051309 |
| CoreCivic, Inc.<sup>(b)</sup><br>| 55295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734318 |
| Deluxe Corp.<br>| 20255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391732 |
| GEO Group, Inc. (The)<sup>(b)(c)</sup><br>| 58338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689555 |
| Harsco Corp.<sup>(b)</sup><br>| 37342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279318 |
| Healthcare Services Group, Inc.<br>| 34814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485655 |
| HNI Corp.<br>| 19431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563499 |
| Interface, Inc.<br>| 27625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299179 |
| KAR Auction Services, Inc.<sup>(b)(c)</sup><br>| 54454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748198 |
| Matthews International Corp., Class A<br>| 14389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455556 |
| MillerKnoll, Inc.<br>| 35656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727026 |
| Pitney Bowes, Inc.<br>| 76021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290400 |
| UniFirst Corp.<br>| &nbsp;&nbsp;7108 | &nbsp;&nbsp;&nbsp;&nbsp;1377246 |
| Viad Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;9694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287039 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;9864124 |
| **Construction & Engineering-7.87%** | **Construction & Engineering-7.87%** | **Construction & Engineering-7.87%** |
| Arcosa, Inc.<br>| 22775 | &nbsp;&nbsp;&nbsp;&nbsp;1391553 |
| Comfort Systems USA, Inc.<br>| 16849 | &nbsp;&nbsp;&nbsp;&nbsp;2135779 |
| Granite Construction, Inc.<sup>(c)</sup><br>| 20726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746551 |
| MYR Group, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;7831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748095 |
| NV5 Global, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;5848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845094 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;5867072 |
| **Electrical Equipment-2.57%** | **Electrical Equipment-2.57%** | **Electrical Equipment-2.57%** |
| AZZ, Inc.<br>| 11653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485114 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Electrical Equipment-(continued)** | **Electrical Equipment-(continued)** | **Electrical Equipment-(continued)** |
| Encore Wire Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;9008 | &nbsp;&nbsp;$1316159 |
| Powell Industries, Inc.<br>| &nbsp;&nbsp;4308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113387 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914660 |
| **Machinery-29.29%** | **Machinery-29.29%** | **Machinery-29.29%** |
| 3D Systems Corp.<sup>(b)(c)</sup><br>| 61248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621055 |
| Alamo Group, Inc.<br>| &nbsp;&nbsp;4838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728119 |
| Albany International Corp., Class A<br>| 14648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484868 |
| Astec Industries, Inc.<br>| 10749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475536 |
| Barnes Group, Inc.<br>| 23749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011470 |
| CIRCOR International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;9572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263709 |
| Enerpac Tool Group Corp.<br>| 27334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684443 |
| EnPro Industries, Inc.<br>| &nbsp;&nbsp;9797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1163884 |
| ESCO Technologies, Inc.<br>| 12177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144760 |
| Federal Signal Corp.<br>| 28555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387487 |
| Franklin Electric Co., Inc.<br>| 18313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525473 |
| Greenbrier Cos., Inc. (The)<sup>(c)</sup><br>| 15320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588135 |
| Hillenbrand, Inc.<br>| 32712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635600 |
| John Bean Technologies Corp.<br>| 15005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1378359 |
| Lindsay Corp.<br>| &nbsp;&nbsp;5162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911041 |
| Mueller Industries, Inc.<br>| 26694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835746 |
| Proto Labs, Inc.<sup>(b)(c)</sup><br>| 12929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342877 |
| SPX Technologies, Inc.<sup>(b)</sup><br>| 21292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424435 |
| Standex International Corp.<br>| &nbsp;&nbsp;5625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590906 |
| Tennant Co.<br>| &nbsp;&nbsp;8739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555189 |
| Titan International, Inc.<sup>(b)</sup><br>| 23916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342716 |
| Trinity Industries, Inc.<sup>(c)</sup><br>| 38619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182900 |
| Wabash National Corp.<br>| 22824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572198 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;21850906 |
| **Marine-1.57%** | **Marine-1.57%** | **Marine-1.57%** |
| Matson, Inc.<br>| 18358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170506 |
| **Professional Services-7.12%** | **Professional Services-7.12%** | **Professional Services-7.12%** |
| Exponent, Inc.<br>| 24067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488769 |
| Forrester Research, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;5264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185188 |
| Heidrick & Struggles International, Inc.<br>| &nbsp;&nbsp;9279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275586 |
| Kelly Services, Inc., Class A<br>| 16261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276274 |
| Korn Ferry<br>| 25717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466641 |
| Resources Connection, Inc.<br>| 14943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288400 |
| TrueBlue, Inc.<sup>(b)</sup><br>| 15366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331598 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5312456 |
| **Road & Rail-2.54%** | **Road & Rail-2.54%** | **Road & Rail-2.54%** |
| ArcBest Corp.<br>| 11532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954504 |
| Heartland Express, Inc.<br>| 21895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366522 |
| Marten Transport Ltd.<br>| 27043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1897312 |
| **Trading Companies & Distributors-8.69%** | **Trading Companies & Distributors-8.69%** | **Trading Companies & Distributors-8.69%** |
| Applied Industrial Technologies, Inc.<br>| 18104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398599 |
| Boise Cascade Co.<br>| 18579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375589 |
| DXP Enterprises, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;7443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192253 |
| GMS, Inc.<sup>(b)</sup><br>| 20049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984406 |
| NOW, Inc.<sup>(b)</sup><br>| 52113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650370 |
| Veritiv Corp.<br>| &nbsp;&nbsp;6565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883255 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6484472 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $79,411,952) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $79,411,952) | &nbsp;&nbsp;74512890 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Industrials ETF (PSCI)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-0.00%** | **Money Market Funds-0.00%** | **Money Market Funds-0.00%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(d)(e)</sup><br>(Cost $1,071)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1071 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.89%<br>(Cost $79,413,023) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.89%<br>(Cost $79,413,023) | &nbsp;&nbsp;74513961 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-9.68%** | **Money Market Funds-9.68%** | **Money Market Funds-9.68%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| 2021262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021262 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Money Market Funds-(continued)** | **Money Market Funds-(continued)** | **Money Market Funds-(continued)** |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 5194894 | &nbsp;&nbsp;$5195933 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $7,216,261) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $7,216,261) | &nbsp;&nbsp;&nbsp;&nbsp;7217195 |
| TOTAL INVESTMENTS IN SECURITIES-109.57%<br>(Cost $86,629,284) | TOTAL INVESTMENTS IN SECURITIES-109.57%<br>(Cost $86,629,284) | &nbsp;&nbsp;81731156 |
| OTHER ASSETS LESS LIABILITIES-(9.57)% | OTHER ASSETS LESS LIABILITIES-(9.57)% | &nbsp;&nbsp;&nbsp;(7135780) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $74595376 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19939 | &nbsp;&nbsp;&nbsp;$1364187 | &nbsp;&nbsp;&nbsp;$(1383055) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1071 | &nbsp;&nbsp;&nbsp;&nbsp;$429 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3784177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5030848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6793763) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;2021262 | &nbsp;&nbsp;&nbsp;&nbsp;24,798\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9746286 | &nbsp;&nbsp;&nbsp;&nbsp;13949107 | &nbsp;&nbsp;&nbsp;&nbsp;(18500020) | &nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;5195933 | &nbsp;&nbsp;&nbsp;&nbsp;66,473\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$13550402 | &nbsp;&nbsp;&nbsp;$20344142 | &nbsp;&nbsp;&nbsp;$(26676838) | &nbsp;&nbsp;&nbsp;$341 | &nbsp;&nbsp;&nbsp;$219 | &nbsp;&nbsp;&nbsp;$7218266 | &nbsp;&nbsp;&nbsp;$91700 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Information Technology ETF (PSCT)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** | **Common Stocks & Other Equity Interests-100.02%** |
| **Communications Equipment-12.26%** | **Communications Equipment-12.26%** | **Communications Equipment-12.26%** |
| ADTRAN Holdings, Inc.<br>| 185008 | &nbsp;&nbsp;&nbsp;&nbsp;$3750112 |
| Clearfield, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;30046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3954654 |
| Comtech Telecommunications Corp.<br>| &nbsp;&nbsp;72327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844056 |
| Digi International, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;92162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3914120 |
| Extreme Networks, Inc.<sup>(b)</sup><br>| 339481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7118917 |
| Harmonic, Inc.<sup>(b)(c)</sup><br>| 275985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233610 |
| NETGEAR, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;75516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1489931 |
| NetScout Systems, Inc.<sup>(b)(c)</sup><br>| 178335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6648329 |
| Viavi Solutions, Inc.<sup>(b)(c)</sup><br>| 598420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6780099 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38733828 |
| **Electronic Equipment, Instruments & Components-31.89%** | **Electronic Equipment, Instruments & Components-31.89%** | **Electronic Equipment, Instruments & Components-31.89%** |
| Advanced Energy Industries, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;98114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9089281 |
| Arlo Technologies, Inc.<sup>(b)</sup><br>| 230460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880357 |
| Badger Meter, Inc.<br>| &nbsp;&nbsp;76887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8905052 |
| Benchmark Electronics, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;92344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665971 |
| CTS Corp.<br>| &nbsp;&nbsp;83665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555763 |
| ePlus, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;70607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3506344 |
| Fabrinet (Thailand)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;96623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12890474 |
| FARO Technologies, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;48060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437955 |
| Insight Enterprises, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;80192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8332751 |
| Itron, Inc.<sup>(b)(c)</sup><br>| 118562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6305127 |
| Knowles Corp.<sup>(b)(c)</sup><br>| 240730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3755388 |
| Methode Electronics, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;96555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4410632 |
| OSI Systems, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;41630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3683422 |
| PC Connection, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;29687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649113 |
| Plexus Corp.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;72790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8022914 |
| Rogers Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;49208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5365640 |
| Sanmina Corp.<sup>(b)(c)</sup><br>| 151821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10033850 |
| ScanSource, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;66275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978972 |
| TTM Technologies, Inc.<sup>(b)(c)</sup><br>| 268384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4312931 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;100781937 |
| **IT Services-9.09%** | **IT Services-9.09%** | **IT Services-9.09%** |
| CSG Systems International, Inc.<br>| &nbsp;&nbsp;84263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5210824 |
| EVERTEC, Inc. (Puerto Rico)<br>| 173259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5850956 |
| Payoneer Global, Inc.<sup>(b)</sup><br>| 518527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800046 |
| Perficient, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;90900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6458445 |
| Sabre Corp.<sup>(b)</sup><br>| 862230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5268225 |
| TTEC Holdings, Inc.<br>| &nbsp;&nbsp;49585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377601 |
| Unisys Corp.<sup>(b)(c)</sup><br>| 177853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764768 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28730865 |
| **Semiconductors & Semiconductor Equipment-26.44%** | **Semiconductors & Semiconductor Equipment-26.44%** | **Semiconductors & Semiconductor Equipment-26.44%** |
| Alpha & Omega Semiconductor Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;58227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042603 |
| Axcelis Technologies, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;86752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6928015 |
| CEVA, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;60980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656827 |
| Cohu, Inc.<sup>(b)</sup><br>| 126706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4538609 |
| Diodes, Inc.<sup>(b)</sup><br>| 119467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11018441 |
| FormFactor, Inc.<sup>(b)(c)</sup><br>| 202550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4672829 |
| Ichor Holdings Ltd.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;75523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249075 |
| Kulicke & Soffa Industries, Inc. (Singapore)<sup>(c)</sup><br>| 152551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7314820 |
| MaxLinear, Inc.<sup>(b)(c)</sup><br>| 189328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929405 |
| Onto Innovation, Inc.<sup>(b)</sup><br>| 130481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10431956 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** | **Semiconductors & Semiconductor Equipment-(continued)** |
| PDF Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77335 | &nbsp;&nbsp;&nbsp;&nbsp;$2425999 |
| Photronics, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;161733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3040580 |
| Rambus, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;290323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11142597 |
| SMART Global Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;131395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2221889 |
| Ultra Clean Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;119312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4251087 |
| Veeco Instruments, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;135122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2686225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83550957 |
| **Software-18.88%** | **Software-18.88%** | **Software-18.88%** |
| 8x8, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;314909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347811 |
| A10 Networks, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;174071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256868 |
| Adeia, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;273684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3024208 |
| Agilysys, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450410 |
| Alarm.com Holdings, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;130664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6520134 |
| Cerence, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;103410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120939 |
| Consensus Cloud Solutions, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632160 |
| Digital Turbine, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;236281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314491 |
| Ebix, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171949 |
| InterDigital, Inc.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907340 |
| LivePerson, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;182418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141587 |
| LiveRamp Holdings, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;176398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3873700 |
| OneSpan, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161996 |
| Progress Software Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;114161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6087064 |
| SPS Commerce, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13458223 |
| Xperi, Inc.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;109372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171374 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59640254 |
| **Technology Hardware, Storage & Peripherals-1.46%** | **Technology Hardware, Storage & Peripherals-1.46%** | **Technology Hardware, Storage & Peripherals-1.46%** |
| Avid Technology, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2502714 |
| Corsair Gaming, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;100702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698843 |
| Diebold Nixdorf, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;194587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418362 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4619919 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.02%<br>(Cost $301,245,196) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-100.02%<br>(Cost $301,245,196) | &nbsp;&nbsp;316057760 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-23.35%** | **Money Market Funds-23.35%** | **Money Market Funds-23.35%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| 20665672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20665672 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 53115657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53126278 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $73,783,580) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $73,783,580) | &nbsp;&nbsp;&nbsp;&nbsp;73791950 |
| TOTAL INVESTMENTS IN SECURITIES-123.37%<br>(Cost $375,028,776) | TOTAL INVESTMENTS IN SECURITIES-123.37%<br>(Cost $375,028,776) | &nbsp;&nbsp;389849710 |
| OTHER ASSETS LESS LIABILITIES-(23.37)% | OTHER ASSETS LESS LIABILITIES-(23.37)% | &nbsp;&nbsp;&nbsp;(73846593) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $316003117 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Information Technology ETF (PSCT)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;$3971318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$476649 | &nbsp;&nbsp;&nbsp;&nbsp;$(4447967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$655 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;24677602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39157945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43169875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;20665672 | &nbsp;&nbsp;&nbsp;&nbsp;167,740\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;63456692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86213180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(96548351) | &nbsp;&nbsp;&nbsp;&nbsp;3643 | &nbsp;&nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;53126278 | &nbsp;&nbsp;&nbsp;&nbsp;453,210\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$92105612 | &nbsp;&nbsp;&nbsp;$125847774 | &nbsp;&nbsp;&nbsp;$(144166193) | &nbsp;&nbsp;&nbsp;$3643 | &nbsp;&nbsp;&nbsp;$1114 | &nbsp;&nbsp;&nbsp;$73791950 | &nbsp;&nbsp;&nbsp;$621605 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Materials ETF (PSCM)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** | **Common Stocks & Other Equity Interests-99.91%** |
| **Chemicals-55.13%** | **Chemicals-55.13%** | **Chemicals-55.13%** |
| AdvanSix, Inc.<br>| &nbsp;&nbsp;9926 | &nbsp;&nbsp;&nbsp;&nbsp;$408554 |
| American Vanguard Corp.<br>| 10243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235589 |
| Balchem Corp.<br>| 11372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1601178 |
| FutureFuel Corp.<br>| &nbsp;&nbsp;9113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80559 |
| H.B. Fuller Co.<br>| 18822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511595 |
| Hawkins, Inc.<br>| &nbsp;&nbsp;6676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277722 |
| Innospec, Inc.<br>| &nbsp;&nbsp;8770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972505 |
| Koppers Holdings, Inc.<br>| &nbsp;&nbsp;7377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219761 |
| Livent Corp.<sup>(b)(c)</sup><br>| 63456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776133 |
| Mativ Holdings, Inc., Class A<br>| 19380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402523 |
| Minerals Technologies, Inc.<br>| 11536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695505 |
| Quaker Chemical Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;4821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948724 |
| Rayonier Advanced Materials, Inc.<sup>(b)</sup><br>| 22581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174777 |
| Stepan Co.<br>| &nbsp;&nbsp;7496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836329 |
| Tredegar Corp.<br>| &nbsp;&nbsp;8877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91788 |
| Trinseo PLC<sup>(c)</sup><br>| 12390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305413 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10538655 |
| **Containers & Packaging-6.30%** | **Containers & Packaging-6.30%** | **Containers & Packaging-6.30%** |
| Myers Industries, Inc.<br>| 12873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300456 |
| O-I Glass, Inc.<sup>(b)</sup><br>| 55090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;904027 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204483 |
| **Metals & Mining-32.93%** | **Metals & Mining-32.93%** | **Metals & Mining-32.93%** |
| Arconic Corp.<sup>(b)</sup><br>| 36329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865720 |
| ATI, Inc.<sup>(b)</sup><br>| 45951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401965 |
| Carpenter Technology Corp.<br>| 17084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701469 |
| Century Aluminum Co.<sup>(b)</sup><br>| 18061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162730 |
| Compass Minerals International, Inc.<br>| 12106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536901 |
| Haynes International, Inc.<br>| &nbsp;&nbsp;4399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219774 |
| Kaiser Aluminum Corp.<sup>(c)</sup><br>| &nbsp;&nbsp;5648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510579 |
| Materion Corp.<br>| &nbsp;&nbsp;7262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585027 |
| Olympic Steel, Inc.<br>| &nbsp;&nbsp;3376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118464 |
| SunCoke Energy, Inc.<br>| 29440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249062 |
| TimkenSteel Corp.<sup>(b)</sup><br>| 14521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271543 |
| Warrior Met Coal, Inc.<br>| 18282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673143 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6296377 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Paper & Forest Products-5.55%** | **Paper & Forest Products-5.55%** | **Paper & Forest Products-5.55%** |
| Clearwater Paper Corp.<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5910 | &nbsp;&nbsp;&nbsp;&nbsp;$230667 |
| Mercer International, Inc. (Germany)<br>| &nbsp;&nbsp;&nbsp;&nbsp;14248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196623 |
| Sylvamo Corp.<br>| &nbsp;&nbsp;&nbsp;&nbsp;11723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634097 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061387 |
| &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $18,670,895) | &nbsp;&nbsp;&nbsp;Total Common Stocks & Other Equity Interests<br>(Cost $18,670,895) | &nbsp;&nbsp;19100902 |
| **Money Market Funds-0.00%** | **Money Market Funds-0.00%** | **Money Market Funds-0.00%** |
| Invesco Government & Agency Portfolio, Institutional Class, 3.73%<sup>(d)(e)</sup><br>(Cost $40)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.91%<br>(Cost $18,670,935) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.91%<br>(Cost $18,670,935) | &nbsp;&nbsp;19100942 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-17.28%** | **Money Market Funds-17.28%** | **Money Market Funds-17.28%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;&nbsp;924923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924923 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 2377279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377754 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $3,302,339) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $3,302,339) | &nbsp;&nbsp;&nbsp;&nbsp;3302677 |
| TOTAL INVESTMENTS IN SECURITIES-117.19%<br>(Cost $21,973,274) | TOTAL INVESTMENTS IN SECURITIES-117.19%<br>(Cost $21,973,274) | &nbsp;&nbsp;22403619 |
| OTHER ASSETS LESS LIABILITIES-(17.19)% | OTHER ASSETS LESS LIABILITIES-(17.19)% | &nbsp;&nbsp;&nbsp;(3286273) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $19117346 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$93192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(93152) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51 |

---

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Materials ETF (PSCM)—(continued)<br>
November 30, 2022

(Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;$822594 | &nbsp;&nbsp;&nbsp;$4564197 | &nbsp;&nbsp;&nbsp;$(4461868) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$924923 | &nbsp;&nbsp;&nbsp;$8,872\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;2115243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9381484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9119207) | &nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;2377754 | &nbsp;&nbsp;&nbsp;&nbsp;24,047\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$2937837 | &nbsp;&nbsp;&nbsp;$14038873 | &nbsp;&nbsp;&nbsp;$(13674227) | &nbsp;&nbsp;&nbsp;$188 | &nbsp;&nbsp;&nbsp;$46 | &nbsp;&nbsp;&nbsp;$3302717 | &nbsp;&nbsp;&nbsp;$32970 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

Schedule of Investments<sup>(a)</sup><br>

### Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU)
November 30, 2022

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** | **Common Stocks & Other Equity Interests-99.82%** |
| **Diversified Telecommunication Services-7.27%** | **Diversified Telecommunication Services-7.27%** | **Diversified Telecommunication Services-7.27%** |
| ATN International, Inc.<br>| &nbsp;&nbsp;6136 | &nbsp;&nbsp;&nbsp;$297044 |
| Cogent Communications Holdings, Inc.<br>| 18057 | &nbsp;&nbsp;&nbsp;&nbsp;1048209 |
| Consolidated Communications Holdings, Inc.<sup>(b)(c)</sup><br>| 42330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1540817 |
| **Entertainment-5.03%** | **Entertainment-5.03%** | **Entertainment-5.03%** |
| Cinemark Holdings, Inc.<sup>(b)(c)</sup><br>| 61633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;838825 |
| Marcus Corp. (The)<sup>(c)</sup><br>| 13982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227068 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1065893 |
| **Gas Utilities-19.87%** | **Gas Utilities-19.87%** | **Gas Utilities-19.87%** |
| Chesapeake Utilities Corp.<br>| &nbsp;&nbsp;7572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906596 |
| Northwest Natural Holding Co.<br>| 19877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996036 |
| South Jersey Industries, Inc.<sup>(c)</sup><br>| 66513 | &nbsp;&nbsp;&nbsp;&nbsp;2308001 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4210633 |
| **Interactive Media & Services-13.59%** | **Interactive Media & Services-13.59%** | **Interactive Media & Services-13.59%** |
| Cars.com, Inc.<sup>(b)</sup><br>| 36219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535317 |
| QuinStreet, Inc.<sup>(b)</sup><br>| 29528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420183 |
| Shutterstock, Inc.<br>| 13833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744492 |
| Yelp, Inc.<sup>(b)(c)</sup><br>| 38164 | &nbsp;&nbsp;&nbsp;&nbsp;1181176 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2881168 |
| **Media-12.89%** | **Media-12.89%** | **Media-12.89%** |
| AMC Networks, Inc., Class A<sup>(b)</sup><br>| 16035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320059 |
| E.W. Scripps Co. (The), Class A<sup>(b)(c)</sup><br>| 33186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497126 |
| Gannett Co., Inc.<sup>(b)(c)</sup><br>| 81050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202625 |
| Scholastic Corp.<br>| 17084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702494 |
| TechTarget, Inc.<sup>(b)(c)</sup><br>| 14728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672481 |
| Thryv Holdings, Inc.<sup>(b)(c)</sup><br>| 17567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336935 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2731720 |
| **Multi-Utilities-10.10%** | **Multi-Utilities-10.10%** | **Multi-Utilities-10.10%** |
| Avista Corp.<br>| 39632 | &nbsp;&nbsp;&nbsp;&nbsp;1636009 |
| Unitil Corp.<br>| &nbsp;&nbsp;9191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503851 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;2139860 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | &nbsp;&nbsp;**Value** |
| **Water Utilities-22.78%** | **Water Utilities-22.78%** | **Water Utilities-22.78%** |
| American States Water Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;20069 | &nbsp;&nbsp;$1966561 |
| California Water Service Group<br>| &nbsp;&nbsp;&nbsp;&nbsp;29521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916798 |
| Middlesex Water Co.<br>| &nbsp;&nbsp;&nbsp;&nbsp;10117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945434 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4828793 |
| **Wireless Telecommunication Services-8.29%** | **Wireless Telecommunication Services-8.29%** | **Wireless Telecommunication Services-8.29%** |
| Gogo, Inc.<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;37692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591387 |
| Shenandoah Telecommunications Co.<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;28744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559646 |
| Telephone & Data Systems, Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp;57520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606261 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757294 |
| TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.82%<br>(Cost $21,979,957) | TOTAL INVESTMENTS IN SECURITIES<br>(excluding investments purchased with cash collateral from securities on loan)-99.82%<br>(Cost $21,979,957) | &nbsp;&nbsp;21156178 |
| **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** | **Investments Purchased with Cash Collateral<br> from Securities on Loan** |
| **Money Market Funds-24.00%** | **Money Market Funds-24.00%** | **Money Market Funds-24.00%** |
| Invesco Private Government Fund, 3.83%<sup>(d)(e)(f)</sup><br>| 1424483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424483 |
| Invesco Private Prime Fund, 4.15%<sup>(d)(e)(f)</sup><br>| 3661363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3662095 |
| &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $5,085,975) | &nbsp;&nbsp;&nbsp;Total Investments Purchased with Cash Collateral from Securities on Loan<br>(Cost $5,085,975) | &nbsp;&nbsp;&nbsp;&nbsp;5086578 |
| TOTAL INVESTMENTS IN SECURITIES-123.82%<br>(Cost $27,065,932) | TOTAL INVESTMENTS IN SECURITIES-123.82%<br>(Cost $27,065,932) | &nbsp;&nbsp;26242756 |
| OTHER ASSETS LESS LIABILITIES-(23.82)% | OTHER ASSETS LESS LIABILITIES-(23.82)% | &nbsp;&nbsp;&nbsp;(5048853) |
| NET ASSETS-100.00% | NET ASSETS-100.00% | $21193903 |

---

---

| | |
|:---|:---|
| Notes to Schedule of Investments: | Notes to Schedule of Investments: |
| <sup>(a)</sup> | Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor's. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | All or a portion of this security was out on loan at November 30, 2022. |
| <sup>(d)</sup> | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund's transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Value<br> August 31, 2022** | &nbsp;&nbsp;&nbsp;**Purchases<br> at Cost** | &nbsp;&nbsp;&nbsp;**Proceeds<br> from Sales** | &nbsp;&nbsp;&nbsp;**Change in<br> Unrealized<br> Appreciation** | &nbsp;&nbsp;&nbsp;**Realized<br> Gain<br> (Loss)** | &nbsp;&nbsp;&nbsp;**Value<br> November 30, 2022** | &nbsp;&nbsp;&nbsp;**Dividend<br> Income** |
| &nbsp;&nbsp;**Investments in Affiliated Money Market Funds:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Government & Agency Portfolio, Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$126058 | &nbsp;&nbsp;&nbsp;$(126058) | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$44 |
| &nbsp;&nbsp;**Investments Purchased with Cash Collateral from Securities on Loan:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Invesco Private Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962400 | &nbsp;&nbsp;&nbsp;&nbsp;2792241 | &nbsp;&nbsp;&nbsp;&nbsp;(2330158) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;1424483 | &nbsp;&nbsp;&nbsp;&nbsp;11,074\* |
| &nbsp;&nbsp;Invesco Private Prime Fund | &nbsp;&nbsp;&nbsp;&nbsp;2474743 | &nbsp;&nbsp;&nbsp;&nbsp;6846180 | &nbsp;&nbsp;&nbsp;&nbsp;(5659225) | &nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;(53) | &nbsp;&nbsp;&nbsp;&nbsp;3662095 | &nbsp;&nbsp;&nbsp;&nbsp;29,771\* |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;$3437143 | &nbsp;&nbsp;&nbsp;$9764479 | &nbsp;&nbsp;&nbsp;$(8115441) | &nbsp;&nbsp;&nbsp;$450 | &nbsp;&nbsp;&nbsp;$(53) | &nbsp;&nbsp;&nbsp;$5086578 | &nbsp;&nbsp;&nbsp;$40889 |

---

\* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

See accompanying notes which are an integral part of this schedule.

------

### Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU)—(continued)
November 30, 2022

(Unaudited)

<sup>(e)</sup> The rate shown is the 7-day SEC standardized yield as of November 30, 2022. <br> <sup>(f)</sup> The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower's return of the securities loaned.

The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.

See accompanying notes which are an integral part of this schedule.

------

### Notes to Quarterly Schedules of Portfolio Holdings
November 30, 2022

(Unaudited)

#### NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment's assigned level:

Level 1 — Prices are determined using quoted prices in an active market for identical assets.

Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.

Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC's assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.

The following is a summary of the tiered valuation input levels, as of November 30, 2022.The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco DWA SmallCap Momentum ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$426150419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$426150419 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94546153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94628435 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$426232701 | &nbsp;&nbsp;&nbsp;$94546153 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$520778854 |
| &nbsp;&nbsp;Invesco S&P SmallCap Consumer Discretionary ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$25460742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$25460742 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8252738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8279893 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$25487897 | &nbsp;&nbsp;&nbsp;&nbsp;$8252738 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$33740635 |
| &nbsp;&nbsp;Invesco S&P SmallCap Consumer Staples ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$60820831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$60820831 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18797825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18800286 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$60823292 | &nbsp;&nbsp;&nbsp;$18797825 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$79621117 |
| &nbsp;&nbsp;Invesco S&P SmallCap Energy ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$152971902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$152971902 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16382198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16382198 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$152971902 | &nbsp;&nbsp;&nbsp;$16382198 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$169354100 |
| &nbsp;&nbsp;Invesco S&P SmallCap Financials ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$34812703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$34812703 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6649183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6679545 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$34843065 | &nbsp;&nbsp;&nbsp;&nbsp;$6649183 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$41492248 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;Invesco S&P SmallCap Health Care ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$333055528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;$333055528 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;106005638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;106005638 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$333055528 | &nbsp;&nbsp;&nbsp;$106005638 | &nbsp;&nbsp;&nbsp;$0 | &nbsp;&nbsp;&nbsp;$439061166 |
| &nbsp;&nbsp;Invesco S&P SmallCap Industrials ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$74512890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$74512890 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7217195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7218266 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$74513961 | &nbsp;&nbsp;&nbsp;&nbsp;$7217195 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$81731156 |
| &nbsp;&nbsp;Invesco S&P SmallCap Information Technology ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$316057760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$316057760 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73791950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73791950 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$316057760 | &nbsp;&nbsp;&nbsp;$73791950 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$389849710 |
| &nbsp;&nbsp;Invesco S&P SmallCap Materials ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$19100902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$19100902 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302717 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$19100942 | &nbsp;&nbsp;&nbsp;&nbsp;$3302677 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$22403619 |
| &nbsp;&nbsp;Invesco S&P SmallCap Utilities & Communication Services ETF |  |  |  |  |
| &nbsp;&nbsp;**Investments in Securities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common Stocks & Other Equity Interests | &nbsp;&nbsp;&nbsp;$21156178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$21156178 |
| &nbsp;&nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086578 |
| &nbsp;&nbsp;&nbsp;**Total Investments** | &nbsp;&nbsp;&nbsp;$21156178 | &nbsp;&nbsp;&nbsp;&nbsp;$5086578 | &nbsp;&nbsp;&nbsp;$- | &nbsp;&nbsp;&nbsp;$26242756 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Invesco Exchange-Traded Fund Trust II

- **b. Investment Company Act file number:** 811-21977

- **c. CIK number of Registrant:** 0001378872

- **d. LEI of Registrant:** O540V2L4S174Y60FMD36

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 3500 Lacey Road

  - **City:** Downers Grove

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60515

  - **Telephone number:** 800-983-0903

**Item A.2. Information about the Series.**

- **a. Name of Series:** Invesco S&P SmallCap Industrials ETF

- **b. EDGAR series identifier (if any):** S000028300

- **c. LEI of Series:** 549300RFU1GXX0KUPW74

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $81833418.95

**Total Liabilities:** $7238043.14

**Net Assets:** $74595375.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000086475 | -10.20%              | 15.64%               | 4.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-110864.10              | $-6857336.35                               |
| Month 2  | $-62366.79               | $9583244.70                                |
| Month 3  | $768545.91               | $2724710.05                                |

### Schedule of Portfolio Investments

| Name                                     | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Trinity Industries, Inc.                 | Trinity Industries, Inc.                                   | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     38619 | NS      | $1182899.97   | 1.59%             |  |  |  | No            |                  1 | On Loan: —       |
| GMS Inc.                                 | GMS Inc.                                                   | CUSIP: 36251C103<br>LEI: 52990057RENOQO4U0D72 | Long             | EC               | CORP              | US        |     20049 | NS      | $984405.90    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Holdings, Inc.                  | Hawaiian Holdings, Inc.                                    | CUSIP: 419879101<br>LEI: 529900TQUS2JVPSSPP86 | Long             | EC               | CORP              | US        |     24157 | NS      | $335782.30    | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Resideo Technologies, Inc.               | Resideo Technologies, Inc.                                 | CUSIP: 76118Y104<br>LEI: 5493006TKFPYISY2DS54 | Long             | EC               | CORP              | US        |     68490 | NS      | $1109538.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TrueBlue, Inc.                           | TrueBlue, Inc.                                             | CUSIP: 89785X101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15366 | NS      | $331598.28    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Group, Inc.                      | Triumph Group, Inc.                                        | CUSIP: 896818101<br>LEI: 5493007L6S47Q14SL582 | Long             | EC               | CORP              | US        |     30543 | NS      | $349717.35    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| KAR Auction Services, Inc.               | KAR Auction Services, Inc.                                 | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |     54454 | NS      | $748197.96    | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Standex International Corp.              | Standex International Corp.                                | CUSIP: 854231107<br>LEI: RCX52GR0JW2LRRMH9Z54 | Long             | EC               | CORP              | US        |      5625 | NS      | $590906.25    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Proto Labs, Inc.                         | Proto Labs, Inc.                                           | CUSIP: 743713109<br>LEI: 529900QHG5MGWT2WQQ09 | Long             | EC               | CORP              | US        |     12929 | NS      | $342877.08    | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| Lindsay Corp.                            | Lindsay Corp.                                              | CUSIP: 535555106<br>LEI: 549300ZFO0QG5H8TPI61 | Long             | EC               | CORP              | US        |      5162 | NS      | $911041.38    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan International, Inc.                | Titan International, Inc.                                  | CUSIP: 88830M102<br>LEI: 254900CXRGBE7C4B5A06 | Long             | EC               | CORP              | US        |     23916 | NS      | $342716.28    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| GEO Group, Inc. (The)                    | GEO Group, Inc. (The)                                      | CUSIP: 36162J106<br>LEI: 54930024XOXET7NQVZ63 | Long             | EC               | CORP              | US        |     58338 | NS      | $689555.16    | 0.92%             |  |  |  | No            |                  1 | On Loan: —       |
| Invesco Government & Agency Portfolio    | Invesco Government & Agency Portfolio, Institutional Class | CUSIP: 825252885<br>LEI: 5493007T1J7WZ5QI1A47 | Long             | STIV             | RF                | US        |      1071 | NS      | $1071.24      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DXP Enterprises, Inc.                    | DXP Enterprises, Inc.                                      | CUSIP: 233377407<br>LEI: 8HH9SCFWHN29ZIEWIE93 | Long             | EC               | CORP              | US        |      7443 | NS      | $192252.69    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlas Air Worldwide Holdings, Inc.       | Atlas Air Worldwide Holdings, Inc.                         | CUSIP: 049164205<br>LEI: 549300R0A2TUVCYZB465 | Long             | EC               | CORP              | US        |     12136 | NS      | $1222944.72   | 1.64%             |  |  |  | No            |                  1 | On Loan: —       |
| Allegiant Travel Co.                     | Allegiant Travel Co.                                       | CUSIP: 01748X102<br>LEI: 549300JM9OZXOHWL2K18 | Long             | EC               | CORP              | US        |      7265 | NS      | $600161.65    | 0.80%             |  |  |  | No            |                  1 | On Loan: —       |
| Forrester Research, Inc.                 | Forrester Research, Inc.                                   | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |      5264 | NS      | $185187.52    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings, Inc.      | Sun Country Airlines Holdings, Inc.                        | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |     15307 | NS      | $309201.40    | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| Mueller Industries, Inc.                 | Mueller Industries, Inc.                                   | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     26694 | NS      | $1835746.38   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SPX Technologies, Inc.                   | SPX Technologies, Inc.                                     | CUSIP: 78473E103<br>LEI: P761FCI0CPOG24I8JE10 | Long             | EC               | CORP              | US        |     21292 | NS      | $1424434.80   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                               | Korn Ferry                                                 | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     25717 | NS      | $1466640.51   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Kelly Services, Inc.                     | Kelly Services, Inc., Class A                              | CUSIP: 488152208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16261 | NS      | $276274.39    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Aerojet Rocketdyne Holdings, Inc.        | Aerojet Rocketdyne Holdings, Inc.                          | CUSIP: 007800105<br>LEI: 549300VULNLWHE8QWI76 | Long             | EC               | CORP              | US        |     35606 | NS      | $1851512.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Co.                        | Boise Cascade Co.                                          | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     18579 | NS      | $1375589.16   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface, Inc.                          | Interface, Inc.                                            | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |     27625 | NS      | $299178.75    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| 3D Systems Corp.                         | 3D Systems Corp.                                           | CUSIP: 88554D205<br>LEI: 5493003HHDOCCW4OP744 | Long             | EC               | CORP              | US        |     61248 | NS      | $621054.72    | 0.83%             |  |  |  | No            |                  1 | On Loan: —       |
| Healthcare Services Group, Inc.          | Healthcare Services Group, Inc.                            | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |     34814 | NS      | $485655.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Brady Corp.                              | Brady Corp., Class A                                       | CUSIP: 104674106<br>LEI: 549300G2LEQOFQC8GY34 | Long             | EC               | CORP              | US        |     21948 | NS      | $1051309.20   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Griffon Corp.                            | Griffon Corp.                                              | CUSIP: 398433102<br>LEI: 5493000C2SGNC7ZN3242 | Long             | EC               | CORP              | US        |     22266 | NS      | $786212.46    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp.                    | Wabash National Corp.                                      | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     22824 | NS      | $572197.68    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp.                            | ArcBest Corp.                                              | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |     11532 | NS      | $954503.64    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Exponent, Inc.                           | Exponent, Inc.                                             | CUSIP: 30214U102<br>LEI: 529900NY3F5Q2NWPUZ42 | Long             | EC               | CORP              | US        |     24067 | NS      | $2488768.47   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HNI Corp.                                | HNI Corp.                                                  | CUSIP: 404251100<br>LEI: 549300SKRADLC4O5HV93 | Long             | EC               | CORP              | US        |     19431 | NS      | $563499.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Veritiv Corp.                            | Veritiv Corp.                                              | CUSIP: 923454102<br>LEI: 529900VQARHWQROHAS58 | Long             | EC               | CORP              | US        |      6565 | NS      | $883255.10    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc.                   | ESCO Technologies Inc.                                     | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |     12177 | NS      | $1144759.77   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co.                              | Tennant Co.                                                | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |      8739 | NS      | $555188.67    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection, Inc.               | Resources Connection, Inc.                                 | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14943 | NS      | $288399.90    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries, Inc.                     | UFP Industries, Inc.                                       | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |     29019 | NS      | $2375495.34   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO PRIVATE GOVERNMENT FUND          | INVESCO PRIVATE GOVERNMENT FUND                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   2021262 | NS      | $2021262.32   | 2.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Moog Inc.                                | Moog Inc.                                                  | CUSIP: 615394202<br>LEI: 549300WM2I4U7OBAHG07 | Long             | EC               | CORP              | US        |     13639 | NS      | $1187002.17   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp.                           | UniFirst Corp.                                             | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |      7108 | NS      | $1377246.08   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| AAON, Inc.                               | AAON, Inc.                                                 | CUSIP: 000360206<br>LEI: 549300ZHF0E5VM7PUD37 | Long             | EC               | CORP              | US        |     19778 | NS      | $1567604.28   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| John Bean Technologies Corp.             | John Bean Technologies Corp.                               | CUSIP: 477839104<br>LEI: 5493007CT6ATBZ2L6826 | Long             | EC               | CORP              | US        |     15005 | NS      | $1378359.30   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Enterprises, Inc.                 | Apogee Enterprises, Inc.                                   | CUSIP: 037598109<br>LEI: 549300579S7QW8V4IJ60 | Long             | EC               | CORP              | US        |     10416 | NS      | $502572.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NV5 Global, Inc.                         | NV5 Global, Inc.                                           | CUSIP: 62945V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5848 | NS      | $845094.48    | 1.13%             |  |  |  | No            |                  1 | On Loan: —       |
| Federal Signal Corp.                     | Federal Signal Corp.                                       | CUSIP: 313855108<br>LEI: 549300RTXZRPTNP6G884 | Long             | EC               | CORP              | US        |     28555 | NS      | $1387487.45   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| American Woodmark Corp.                  | American Woodmark Corp.                                    | CUSIP: 030506109<br>LEI: 5299007PFSDWMA74RB56 | Long             | EC               | CORP              | US        |      7801 | NS      | $422814.20    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp.                                | AAR Corp.                                                  | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     15813 | NS      | $736253.28    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| SkyWest, Inc.                            | SkyWest, Inc.                                              | CUSIP: 830879102<br>LEI: 529900UYS2KGS6Z42P09 | Long             | EC               | CORP              | US        |     23782 | NS      | $438777.90    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries, Inc.                 | Insteel Industries, Inc.                                   | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |      9170 | NS      | $270423.30    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO PRIVATE PRIME FUND               | INVESCO PRIVATE PRIME FUND                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   5194894 | NS      | $5195932.58   | 6.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Hub Group, Inc.                          | Hub Group, Inc., Class A                                   | CUSIP: 443320106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16006 | NS      | $1346904.90   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Deluxe Corp.                             | Deluxe Corp.                                               | CUSIP: 248019101<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | EC               | CORP              | US        |     20255 | NS      | $391731.70    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Enerpac Tool Group Corp.                 | Enerpac Tool Group Corp.                                   | CUSIP: 292765104<br>LEI: IZW37BPZKUJE1QXGB081 | Long             | EC               | CORP              | US        |     27334 | NS      | $684443.36    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Harsco Corp.                             | Harsco Corp.                                               | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |     37342 | NS      | $279318.16    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp.             | Matthews International Corp., Class A                      | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     14389 | NS      | $455555.74    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Greenbrier Cos., Inc. (The)              | Greenbrier Cos., Inc. (The)                                | CUSIP: 393657101<br>LEI: 5493001GAGGFR30BP390 | Long             | EC               | CORP              | US        |     15320 | NS      | $588134.80    | 0.79%             |  |  |  | No            |                  1 | On Loan: —       |
| PGT Innovations, Inc.                    | PGT Innovations, Inc.                                      | CUSIP: 69336V101<br>LEI: 549300LRW9WM59C1S579 | Long             | EC               | CORP              | US        |     28182 | NS      | $557721.78    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc.                           | MYR Group Inc.                                             | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      7831 | NS      | $748095.43    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| National Presto Industries, Inc.         | National Presto Industries, Inc.                           | CUSIP: 637215104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2388 | NS      | $165058.56    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                      | AeroVironment, Inc.                                        | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |     11748 | NS      | $1080698.52   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Marten Transport, Ltd.                   | Marten Transport, Ltd.                                     | CUSIP: 573075108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27043 | NS      | $576286.33    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ABM Industries Inc.                      | ABM Industries Inc.                                        | CUSIP: 000957100<br>LEI: QF02R89VEIOROM77J447 | Long             | EC               | CORP              | US        |     31456 | NS      | $1484094.08   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaman Corp.                              | Kaman Corp.                                                | CUSIP: 483548103<br>LEI: 5493003YK076OLTEQF95 | Long             | EC               | CORP              | US        |     13168 | NS      | $268232.16    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co., Inc.              | Franklin Electric Co., Inc.                                | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     18313 | NS      | $1525472.90   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA, Inc.                | Comfort Systems USA, Inc.                                  | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     16849 | NS      | $2135779.24   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Matson, Inc.                             | Matson, Inc.                                               | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     18358 | NS      | $1170506.08   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Corecivic, Inc.                          | Corecivic, Inc.                                            | CUSIP: 21871N101<br>LEI: 529900JFA3K6PTLT8B15 | Long             | EC               | CORP              | US        |     55295 | NS      | $734317.60    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Heidrick & Struggles International, Inc. | Heidrick & Struggles International, Inc.                   | CUSIP: 422819102<br>LEI: 5493006284N2J367VB57 | Long             | EC               | CORP              | US        |      9279 | NS      | $275586.30    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Albany International Corp.               | Albany International Corp.                                 | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |     14648 | NS      | $1484867.76   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries, Inc.                  | Powell Industries, Inc.                                    | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |      4308 | NS      | $113386.56    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Wire Corp.                        | Encore Wire Corp.                                          | CUSIP: 292562105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9008 | NS      | $1316158.88   | 1.76%             |  |  |  | No            |                  1 | On Loan: —       |
| Viad Corp.                               | Viad Corp.                                                 | CUSIP: 92552R406<br>LEI: 549300PXU4ZW7LPO5Y40 | Long             | EC               | CORP              | US        |      9694 | NS      | $287039.34    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcosa, Inc.                             | Arcosa, Inc.                                               | CUSIP: 039653100<br>LEI: 549300WFHLTCZV7D6V29 | Long             | EC               | CORP              | US        |     22775 | NS      | $1391552.50   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Construction Inc.                | Granite Construction Inc.                                  | CUSIP: 387328107<br>LEI: 549300OM4BWMCIXVCZ39 | Long             | EC               | CORP              | US        |     20726 | NS      | $746550.52    | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Forward Air Corp.                        | Forward Air Corp.                                          | CUSIP: 349853101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12646 | NS      | $1421031.02   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Heartland Express, Inc.                  | Heartland Express, Inc.                                    | CUSIP: 422347104<br>LEI: 5299005V45FZIQGLOG39 | Long             | EC               | CORP              | US        |     21895 | NS      | $366522.30    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Aerospace Corp.                     | Park Aerospace Corp.                                       | CUSIP: 70014A104<br>LEI: 5299004AG0G7IB636095 | Long             | EC               | CORP              | US        |      9136 | NS      | $120869.28    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NOW Inc.                                 | NOW Inc.                                                   | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |     52113 | NS      | $650370.24    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc.                         | Alamo Group Inc.                                           | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      4838 | NS      | $728119.00    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes Inc.                        | Pitney Bowes Inc.                                          | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |     76021 | NS      | $290400.22    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCOR International, Inc.               | CIRCOR International, Inc.                                 | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |      9572 | NS      | $263708.60    | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| Astec Industries, Inc.                   | Astec Industries, Inc.                                     | CUSIP: 046224101<br>LEI: 5493002DO2QKHLKB2A48 | Long             | EC               | CORP              | US        |     10749 | NS      | $475535.76    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc.                                 | AZZ Inc.                                                   | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     11653 | NS      | $485114.39    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp.           | Quanex Building Products Corp.                             | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |     15664 | NS      | $372333.28    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| EnPro Industries, Inc.                   | EnPro Industries, Inc.                                     | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |      9797 | NS      | $1163883.60   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries, Inc.               | Gibraltar Industries, Inc.                                 | CUSIP: 374689107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14869 | NS      | $752520.09    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Barnes Group Inc.                        | Barnes Group Inc.                                          | CUSIP: 067806109<br>LEI: G1MSYD2DQZX30V5DMX12 | Long             | EC               | CORP              | US        |     23749 | NS      | $1011469.91   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies, Inc.    | Applied Industrial Technologies, Inc.                      | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     18104 | NS      | $2398598.96   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                        | Hillenbrand, Inc.                                          | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     32712 | NS      | $1635600.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MillerKnoll, Inc.                        | MillerKnoll, Inc.                                          | CUSIP: 600544100<br>LEI: U98HXD3PNK7HYU2MU887 | Long             | EC               | CORP              | US        |     35656 | NS      | $727025.84    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-30

**Name of Applicant:** Invesco Exchange-Traded Fund Trust II

**Signature:** Sheri Morris

**Name of Signer:** Sheri Morris

**Title:** Vice President