N-30B-2

N-30B-2 1 d638339dn30b2.htm N-30B-2 N-30B-2


		September 30, 2018

2018 Annual Report to Shareholders



THE INVESCO BLDRS INDEX FUNDS TRUST

A Unit Investment Trust

ADRA		Invesco BLDRS Asia 50 ADR Index Fund

ADRD		Invesco BLDRS Developed Markets 100 ADR Index Fund

ADRE		Invesco BLDRS Emerging Markets 50 ADR Index Fund

ADRU		Invesco BLDRS Europe Select ADR Index Fund

“BLDRS” and “Baskets of Listed Depositary Receipts” are service marks of The Bank of New York Mellon

Table of Contents



The Invesco BLDRS Index Funds Trust

Introduction			1

Schedules of Investments

Invesco BLDRS Asia 50 ADR Index Fund (ADRA)			2

Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)			3

Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)			5

Invesco BLDRS Europe Select ADR Index Fund (ADRU)			6

Statements of Assets and Liabilities			8

Statements of Operations			9

Statements of Changes in Net Assets			13

Financial Highlights			17

Notes to Financial Statements			19

Report of Independent Registered Public Accounting Firm			26

Supplemental Information (Unaudited)			27

Tax Information (Unaudited)			31

Effective June 4, 2018, the Funds’ names changed as part of an overall rebranding strategy whereby the PowerShares name was changed to the Invesco brand. This resulted in all references to the PowerShares name being changed to Invesco.

Introduction

The Invesco BLDRS Index Funds Trust consists of four separate Funds. This annual report provides information about the four funds discussed below. Each Fund will normally hold at least 95% of its total assets in American Depositary Receipts that comprise its relevant benchmark BNY Mellon ADR Index, and will seek returns that correspond generally, before fees and expenses, to the price and yield performance of its relevant benchmark BNY Mellon ADR Index.

Invesco BLDRS Asia 50 ADR Index Fund (ADRA)

The Invesco BLDRS Asia 50 ADR Index Fund seeks to track The BNY Mellon Asia 50 ADR Index^SM. The BNY Mellon Asia 50 ADR Index^SM includes 50 component American Depositary Receipts as of September 30, 2018 representing the securities issued by 50 of the most actively traded companies from the Asian markets having a free-float market capitalization ranging from approximately $3 billion to over $202 billion.

Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)

The Invesco BLDRS Developed Markets 100 ADR Index Fund seeks to track The BNY Mellon Developed Markets 100 ADR Index^SM. The BNY Mellon Developed Markets 100 ADR Index^SM includes 86 component American Depositary Receipts as of September 30, 2018 representing the securities issued by 86 of the most actively traded companies from the international developed markets having a free-float market capitalization ranging from approximately $325 million to over $225 billion.

Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)

The Invesco BLDRS Emerging Markets 50 ADR Index Fund seeks to track The BNY Mellon Emerging Markets 50 ADR Index^SM. The BNY Mellon Emerging Markets 50 ADR Index^SM includes 50 component American Depositary Receipts as of September 30, 2018 representing the securities issued by 50 of the most actively traded companies from the international and emerging markets having a free-float market capitalization ranging from approximately $4 billion to over $199 billion.

Invesco BLDRS Europe Select ADR Index Fund (ADRU)

The Invesco BLDRS Europe Select ADR Index Fund seeks to track The BNY Mellon Europe Select ADR Index^SM. The BNY Mellon Europe Select ADR Index^SM includes 74 component American Depositary Receipts as of September 30, 2018 representing the securities issued by 74 of the most actively traded companies from the European markets having a free-float market capitalization ranging from approximately $325 million to over $225 billion.


		1

Schedule of Investments

Invesco BLDRS Asia 50 ADR Index Fund (ADRA)

September 30, 2018


Number of Shares			Value
		American Depositary Receipts—99.8%
		Automobiles & Parts—13.4%
	21,117	Honda Motor Co., Ltd.	$	635,199
	2,601	Tata Motors Ltd.^(a)		39,951
	15,596	Toyota Motor Corp.		1,939,363

				2,614,513

		Banks—21.9%
	7,761	HDFC Bank Ltd.		730,310
	19,449	ICICI Bank Ltd.		165,122
	4,896	KB Financial Group, Inc.		236,379
	153,139	Mitsubishi UFJ Financial Group, Inc.		947,930
	150,120	Mizuho Financial Group, Inc.		525,420
	5,771	Shinhan Financial Group Co., Ltd.		231,590
	67,476	Sumitomo Mitsui Financial Group, Inc.		541,832
	40,042	Westpac Banking Corp.		801,241
	2,254	Woori Bank		102,174

				4,281,998

		Electricity—0.4%
	6,635	Korea Electric Power Corp.		87,383

		Financial Services—1.0%
	40,420	Nomura Holdings, Inc.		193,208

		Fixed Line Telecommunications—2.1%
	1,789	China Telecom Corp. Ltd.		88,412
	4,690	Chunghwa Telecom Co., Ltd.		168,418
	6,158	Telekomunikasi Indonesia Persero Tbk PT		150,748

				407,578

		General Retailers—15.4%
	1,203	58.com, Inc.^(a)		88,541
	15,348	Alibaba Group Holding Ltd.^(a)		2,528,737
	10,969	JD.com, Inc.^(a)		286,181
	4,141	TAL Education Group^(a)		106,465

				3,009,924

		Industrial Metals & Mining—1.6%
	3,854	POSCO		254,364
	4,877	Vedanta Ltd.		62,426

				316,790

		Industrial Transportation—0.5%
	5,489	ZTO Express Cayman, Inc.		90,953

		Leisure Goods—4.7%
	15,291	Sony Corp.		927,399

		Life Insurance—1.1%
	18,005	China Life Insurance Co., Ltd.		205,077

		Mining—4.8%
	18,706	BHP Billiton Ltd.		932,307

		Mobile Telecommunications—4.2%
	12,486	China Mobile Ltd.		610,940
	7,616	China Unicom Hong Kong Ltd.		89,031
	4,541	SK Telecom Co., Ltd.		126,603

				826,574

		Oil & Gas Producers—4.6%
	3,088	China Petroleum & Chemical Corp.		310,158
	1,922	CNOOC Ltd.		379,672
	2,534	PetroChina Co., Ltd.		206,369

				896,199


Number of Shares			Value
		American Depositary Receipts (continued)
		Pharmaceuticals & Biotechnology—0.6%
	661	BeiGene Ltd.^(a)	$	113,837

		Software & Computer Services—10.1%
	3,938	Autohome, Inc.		304,841
	3,326	Baidu, Inc.^(a)		760,590
	45,855	Infosys Ltd.		466,345
	1,881	Momo, Inc.^(a)		82,388
	991	NetEase, Inc.		226,196
	841	Weibo Corp.^(a)		61,502
	14,658	Wipro Ltd.		76,368

				1,978,230

		Technology Hardware & Equipment—12.1%
	20,171	ASE Technology Holding Co., Ltd.		97,426
	56,533	AU Optronics Corp.		238,004
	12,812	Canon, Inc.		405,500
	5,770	LG Display Co., Ltd.		50,026
	32,732	Taiwan Semiconductor Manufacturing Co., Ltd.		1,445,445
	31,368	United Microelectronics Corp.		80,929
	615	YY, Inc.^(a)		46,076

				2,363,406

		Travel & Leisure—1.3%
	5,167	Ctrip.com International Ltd.^(a)		192,057
	3,117	Melco Resorts & Entertainment Ltd.		65,925

				257,982

		Total Investments in Securities (Cost $21,188,781)—99.8%		19,503,358
		Other assets less liabilities—0.2%		37,491

		Net Assets—100.0%	$	19,540,849

Notes to Schedule of Investments:

^(a)	Non-income producing security.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		2

Schedule of Investments

Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)

September 30, 2018


Number of Shares			Value
		Common Stocks and Other Equity Interests—100.4%^(a)
		Automobiles & Parts—5.5%
	25,571	Honda Motor Co., Ltd.	$	769,176
	18,885	Toyota Motor Corp.		2,348,350

				3,117,526

		Banks—20.4%
	94,126	Banco Bilbao Vizcaya Argentaria SA		592,994
	226,435	Banco Santander SA		1,132,175
	56,273	Barclays PLC		503,643
	34,278	Credit Suisse Group AG^(b)		512,113
	26,841	Deutsche Bank AG^(c)		304,914
	57,121	HSBC Holdings PLC		2,512,753
	54,456	ING Groep NV		706,294
	251,885	Lloyds Banking Group PLC		765,730
	185,436	Mitsubishi UFJ Financial Group, Inc.		1,147,849
	179,225	Mizuho Financial Group, Inc.		627,288
	32,084	Royal Bank of Scotland Group PLC		209,509
	99,834	Sumitomo Mitsui Financial Group, Inc.		801,667
	54,077	UBS Group AG^(b)(c)		850,631
	48,487	Westpac Banking Corp.		970,225

				11,637,785

		Beverages—4.3%
	14,102	Anheuser-Busch InBev SA/NV		1,234,912
	8,657	Diageo PLC		1,226,437

				2,461,349

		Construction & Materials—0.7%
	11,843	CRH PLC		387,503

		Financial Services—0.4%
	47,834	Nomura Holdings, Inc.		228,647

		Fixed Line Telecommunications—2.5%
	24,766	BT Group PLC		365,794
	30,285	Orange SA		481,229
	16,311	Telecom Italia SpA^(b)		97,866
	64,499	Telefonica SA		506,962

				1,451,851

		Gas, Water & Multi-Utilities—0.9%
	10,379	National Grid PLC		538,255

		Health Care Equipment & Services—2.0%
	5,983	Fresenius Medical Care AG & Co., KGaA		307,646
	13,282	Koninklijke Philips NV^(c)		604,464
	310	Mazor Robotics Ltd.^(b)		18,079
	6,289	Smith & Nephew PLC		233,259

				1,163,448

		Industrial Engineering—1.1%
	27,240	ABB Ltd.		643,681

		Industrial Metals & Mining—0.7%
	9,033	ArcelorMittal^(c)		278,759
	3,333	Tenaris SA		111,722

				390,481

		Leisure Goods—1.9%
	17,919	Sony Corp.		1,086,787

		Life Insurance—1.7%
	19,821	Aegon NV^(c)		127,449


Number of Shares			Value
		Common Stocks and Other Equity Interests (continued)
		Life Insurance (continued)
	18,251	Prudential PLC	$	837,538

				964,987

		Media—1.8%
	11,020	Pearson PLC		126,950
	30,219	RELX PLC		632,484
	3,559	WPP PLC		260,768

				1,020,202

		Mining—4.7%
	22,651	BHP Billiton Ltd.		1,128,926
	14,907	BHP Billiton PLC		655,610
	1,324	Randgold Resources Ltd.		93,408
	16,161	Rio Tinto PLC		824,534

				2,702,478

		Mobile Telecommunications—1.4%
	37,825	Vodafone Group PLC		820,803

		Oil & Gas Producers—16.9%
	46,962	BP PLC		2,164,948
	17,956	Eni SpA		676,223
	15,399	Equinor ASA		434,252
	32,447	Royal Dutch Shell PLC, Class A		2,210,939
	26,436	Royal Dutch Shell PLC, Class B		1,875,105
	35,652	TOTAL SA		2,295,632

				9,657,099

		Personal Goods—4.0%
	24,206	Unilever NV^(c)		1,344,643
	16,935	Unilever PLC		930,917

				2,275,560

		Pharmaceuticals & Biotechnology—17.5%
	905	Adaptimmune Therapeutics PLC^(b)		12,272
	4,144	Amarin Corp. PLC^(b)		67,423
	413	Argenx SE^(b)		31,322
	313	Ascendis Pharma A/S^(b)		22,179
	35,722	AstraZeneca PLC		1,413,520
	440	Cellectis SA^(b)		12,417
	630	Galapagos NV^(b)		70,831
	34,855	GlaxoSmithKline PLC		1,400,125
	3,665	Grifols SA		78,321
	401	GW Pharmaceuticals PLC^(b)		69,269
	694	Hutchison China MediTech Ltd.^(b)		22,340
	1,109	Mesoblast Ltd.^(b)		9,049
	1,796	MorphoSys AG^(b)		47,953
	36,006	Novartis AG		3,102,276
	24,839	Novo Nordisk A/S		1,170,910
	32,368	Sanofi		1,445,879
	4,308	Shire PLC		780,911
	12,887	Teva Pharmaceutical Industries Ltd.		277,586

				10,034,583

		Software & Computer Services—3.5%
	932	Criteo SA^(b)		21,380
	915	LINE Corp.^(b)		38,549
	15,261	SAP SE		1,877,103
	951	Sea Ltd.^(b)		13,152

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		3

Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD) (continued)

September 30, 2018


Number of Shares			Value
		Common Stocks and Other Equity Interests (continued)
		Software & Computer Services (continued)
	308	Talend SA^(b)	$	21,480

				1,971,664

		Technology Hardware & Equipment—4.9%
	6,091	ASML Holding NV^(c)		1,145,230
	15,251	Canon, Inc.		482,694
	2,321	Logitech International SA^(c)		103,795
	866	Nice Ltd.^(b)		99,131
	79,497	Nokia OYJ		443,593
	9,381	STMicroelectronics NV^(c)		172,048
	39,524	Telefonaktiebolaget LM Ericsson		347,811

				2,794,302

		Tobacco—2.6%
	32,319	British American Tobacco PLC		1,507,035

		Travel & Leisure—1.0%
	2,903	Carnival PLC		183,121
	2,789	InterContinental Hotels Group PLC		175,121
	3,388	Melco Resorts & Entertainment Ltd.		71,656
	1,614	Ryanair Holdings PLC^(b)		155,009

				584,907

		Total Investments in Securities (Cost $72,116,069)—100.4%		57,440,933
		Other assets less liabilities—(0.4)%		(249,174	)

		Net Assets—100.0%	$	57,191,759

Notes to Schedule of Investments:

^(a)	The securities are classified as American Depositary Receipts unless noted otherwise.

^(b)	Non-income producing security.

^(c)	New York Registry Shares.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		4

Schedule of Investments

Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)

September 30, 2018


Number of Shares			Value
		American Depositary Receipts—100.0%
		Banks—15.6%
	391,688	Banco Bradesco SA	$	2,773,151
	18,552	Banco Santander Chile		593,293
	13,501	Bancolombia SA		563,262
	73,576	HDFC Bank Ltd.		6,923,501
	183,887	ICICI Bank Ltd.		1,561,201
	375,857	Itau Unibanco Holding SA		4,126,910
	46,376	KB Financial Group, Inc.		2,239,033
	55,369	Shinhan Financial Group Co., Ltd.		2,221,958
	20,218	Woori Bank		916,482

				21,918,791

		Beverages—3.2%
	513,657	Ambev SA		2,347,412
	21,705	Fomento Economico Mexicano SAB de CV		2,148,144

				4,495,556

		Chemicals—1.8%
	66,131	Sasol Ltd.		2,555,302

		Construction & Materials—0.9%
	171,105	Cemex SAB de CV^(a)		1,204,579

		Electricity—0.6%
	60,722	Korea Electric Power Corp.		799,709

		Fixed Line Telecommunications—2.7%
	16,413	China Telecom Corp. Ltd.		811,130
	44,499	Chunghwa Telecom Co., Ltd.		1,597,959
	57,939	Telekomunikasi Indonesia Persero Tbk PT		1,418,347

				3,827,436

		Forestry & Paper—0.4%
	27,854	Fibria Celulose SA		516,135

		General Retailers—20.8%
	10,643	58.com, Inc.^(a)		783,325
	150,128	Alibaba Group Holding Ltd.^(a)		24,735,089
	95,438	JD.com, Inc.^(a)		2,489,978
	41,785	TAL Education Group^(a)		1,074,292

				29,082,684

		Industrial Metals & Mining—6.1%
	37,421	POSCO		2,469,786
	362,436	Vale SA		5,378,550
	49,745	Vedanta Ltd.		636,736

				8,485,072

		Industrial Transportation—0.5%
	44,498	ZTO Express Cayman, Inc.		737,332

		Life Insurance—1.4%
	173,957	China Life Insurance Co., Ltd.		1,981,370

		Media—0.6%
	51,605	Grupo Televisa SAB		915,473

		Mobile Telecommunications—6.9%
	136,203	America Movil SAB de CV, Class L		2,187,420
	112,520	China Mobile Ltd.		5,505,604
	68,763	China Unicom Hong Kong Ltd.		803,839
	41,869	SK Telecom Co., Ltd.		1,167,308

				9,664,171

		Oil & Gas Producers—10.2%
	29,726	China Petroleum & Chemical Corp.		2,985,679


Number of Shares			Value
		American Depositary Receipts (continued)
		Oil & Gas Producers (continued)
	18,709	CNOOC Ltd.	$	3,695,776
	29,239	Ecopetrol SA		787,406
	24,666	PetroChina Co., Ltd.		2,008,799
	173,968	Petroleo Brasileiro SA		2,099,794
	254,895	Petroleo Brasileiro SA (Preference Shares)		2,666,202

				14,243,656

		Pharmaceuticals & Biotechnology—0.7%
	5,831	BeiGene Ltd.^(a)		1,004,215

		Software & Computer Services—11.6%
	6,619	Autohome, Inc.		512,377
	32,211	Baidu, Inc.^(a)		7,366,011
	441,783	Infosys Ltd.		4,492,933
	16,780	Momo, Inc.^(a)		734,964
	8,605	NetEase, Inc.		1,964,091
	7,552	Weibo Corp.^(a)		552,278
	128,851	Wipro Ltd.		671,314

				16,293,968

		Technology Hardware & Equipment—14.8%
	178,777	ASE Technology Holding Co., Ltd.		863,493
	432,510	Taiwan Semiconductor Manufacturing Co., Ltd.		19,099,641
	281,729	United Microelectronics Corp.		726,861

				20,689,995

		Travel & Leisure—1.2%
	44,661	Ctrip.com International Ltd.^(a)		1,660,050

		Total Investments in Securities (Cost $144,693,980)—100.0%		140,075,494
		Other assets less liabilities—0.0%		22,991

		Net Assets—100.0%	$	140,098,485

Notes to Schedule of Investments:

^(a)	Non-income producing security.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		5

Schedule of Investments

Invesco BLDRS Europe Select ADR Index Fund (ADRU)

September 30, 2018


Number of Shares			Value
		Common Stocks and Other Equity Interests—100.4%^(a)
		Banks—17.0%
	27,994	Banco Bilbao Vizcaya Argentaria SA	$	176,362
	67,346	Banco Santander SA		336,730
	16,736	Barclays PLC		149,787
	10,195	Credit Suisse Group AG^(b)		152,313
	7,983	Deutsche Bank AG^(c)		90,687
	16,988	HSBC Holdings PLC		747,302
	16,196	ING Groep NV		210,062
	74,914	Lloyds Banking Group PLC		227,739
	9,542	Royal Bank of Scotland Group PLC		62,309
	16,083	UBS Group AG^(b)(c)		252,986

				2,406,277

		Beverages—5.2%
	4,194	Anheuser-Busch InBev SA/NV		367,269
	2,575	Diageo PLC		364,800

				732,069

		Construction & Materials—0.8%
	3,522	CRH PLC		115,240

		Financial Services—0.0%
	106	QIWI PLC^(b)		1,396

		Fixed Line Telecommunications—3.1%
	7,365	BT Group PLC		108,781
	9,008	Orange SA		143,137
	4,851	Telecom Italia SpA^(b)		29,106
	19,182	Telefonica SA		150,771

				431,795

		Gas, Water & Multi-Utilities—1.1%
	3,087	National Grid PLC		160,092

		Health Care Equipment & Services—2.4%
	1,780	Fresenius Medical Care AG & Co., KGaA		91,528
	3,951	Koninklijke Philips NV^(c)		179,810
	92	Mazor Robotics Ltd.^(b)		5,365
	1,870	Smith & Nephew PLC		69,358

				346,061

		Industrial Engineering—1.4%
	8,101	ABB Ltd.		191,427

		Industrial Metals & Mining—0.8%
	2,687	ArcelorMittal^(c)		82,921
	991	Tenaris SA		33,218

				116,139

		Life Insurance—2.0%
	5,895	Aegon NV^(c)		37,905
	5,429	Prudential PLC		249,137

				287,042

		Media—2.1%
	3,277	Pearson PLC		37,751
	8,988	RELX PLC		188,119
	1,059	WPP PLC		77,593

				303,463

		Mining—3.3%
	4,433	BHP Billiton PLC		194,963
	394	Randgold Resources Ltd.		27,797


Number of Shares			Value
		Common Stocks and Other Equity Interests (continued)
		Mining (continued)
	4,806	Rio Tinto PLC	$	245,202

				467,962

		Mobile Telecommunications—1.9%
	2,013	Mobile TeleSystems PJSC		17,171
	2,803	VEON Ltd.		8,129
	11,250	Vodafone Group PLC		244,125

				269,425

		Oil & Gas Producers—20.3%
	13,968	BP PLC		643,925
	5,340	Eni SpA		201,104
	4,579	Equinor ASA		129,128
	9,651	Royal Dutch Shell PLC, Class A		657,619
	7,863	Royal Dutch Shell PLC, Class B		557,723
	10,603	TOTAL SA		682,727

				2,872,226

		Personal Goods—4.8%
	7,199	Unilever NV^(c)		399,904
	5,037	Unilever PLC		276,884

				676,788

		Pharmaceuticals & Biotechnology—21.0%
	270	Adaptimmune Therapeutics PLC^(b)		3,661
	1,233	Amarin Corp. PLC^(b)		20,061
	123	Argenx SE^(b)		9,328
	93	Ascendis Pharma A/S^(b)		6,590
	10,624	AstraZeneca PLC		420,392
	131	Cellectis SA^(b)		3,697
	188	Galapagos NV^(b)		21,137
	10,367	GlaxoSmithKline PLC		416,442
	1,090	Grifols SA		23,293
	119	GW Pharmaceuticals PLC^(b)		20,556
	535	MorphoSys AG^(b)		14,285
	10,708	Novartis AG		922,601
	7,387	Novo Nordisk A/S		348,223
	9,627	Sanofi		430,038
	1,282	Shire PLC		232,388
	3,833	Teva Pharmaceutical Industries Ltd.		82,563

				2,975,255

		Software & Computer Services—4.0%
	277	Criteo SA^(b)		6,354
	4,538	SAP SE		558,174
	92	Talend SA^(b)		6,416

				570,944

		Technology Hardware & Equipment—4.9%
	1,812	ASML Holding NV^(c)		340,692
	690	Logitech International SA^(c)		30,857
	258	Nice Ltd.^(b)		29,533
	23,644	Nokia OYJ		131,933
	2,790	STMicroelectronics NV^(c)		51,169
	11,755	Telefonaktiebolaget LM Ericsson		103,444

				687,628

		Tobacco—3.2%
	9,612	British American Tobacco PLC		448,208

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		6

Invesco BLDRS Europe Select ADR Index Fund (ADRU) (continued)

September 30, 2018


Number of Shares			Value
		Common Stocks and Other Equity Interests (continued)
		Travel & Leisure—1.1%
	863	Carnival PLC	$	54,438
	830	InterContinental Hotels Group PLC		52,116
	481	Ryanair Holdings PLC^(b)		46,195

				152,749

		Total Investments in Securities (Cost $18,089,523)—100.4%		14,212,186
		Other assets less liabilities—(0.4)%		(53,210	)

		Net Assets—100.0%	$	14,158,976

Notes to Schedule of Investments:

^(a)	The securities are classified as American Depositary Receipts unless noted otherwise.

^(b)	Non-income producing security.

^(c)	New York Registry Shares.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		7

Statements of Assets and Liabilities

September 30, 2018


	Invesco BLDRS Asia 50 ADR Index Fund (ADRA)			Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)			Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)			Invesco BLDRS Europe Select ADR Index Fund (ADRU)
Assets:
Investments in securities, at value	$	19,503,358		$	57,440,933		$	140,075,494		$	14,212,186
Cash		237,021			53,475			1,452,415			35,517
Receivables:
Dividends		25,532			103,767			295,470			33,089
Amount due from Sponsor		3,789			—			—			13,990
Foreign tax reclaims		1,520			165,580			8,377			30,594

Total Assets		19,771,220			57,763,755			141,831,756			14,325,376


Liabilities:
Payables:
Distributions		172,626			438,982			1,493,485			109,310
Amount due to Licensor		—			39,888			97,851			—
Amount due to Trustee		3,911			13,226			28,931			3,029
Amount due to Sponsor		—			25,958			37,999			—
Accrued expenses		53,834			53,942			75,005			54,061

Total Liabilities		230,371			571,996			1,733,271			166,400

Net Assets	$	19,540,849		$	57,191,759		$	140,098,485		$	14,158,976


Net Assets Consist of:
Shares of beneficial interest	$	25,483,111		$	83,266,873		$	231,198,489		$	22,042,005
Undistributed net investment income		32,749			(319,009	)		(1,128,199	)		(72,641	)
Undistributed net realized gain (loss)		(4,289,588	)		(11,080,969	)		(85,353,319	)		(3,933,051	)
Net unrealized appreciation (depreciation)		(1,685,423	)		(14,675,136	)		(4,618,486	)		(3,877,337	)

Net Assets	$	19,540,849		$	57,191,759		$	140,098,485		$	14,158,976

Shares outstanding (unlimited shares authorized, $0.001 par value)		600,000			2,550,000			3,450,000			650,000

Net asset value	$	32.57		$	22.43		$	40.61		$	21.78

Investments in securities, at cost	$	21,188,781		$	72,116,069		$	144,693,980		$	18,089,523

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		8

Statements of Operations

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Asia 50 ADR Index Fund (ADRA)
	2018			2017			2016
Investment Income:
Dividend income	$	594,627		$	606,773		$	594,544
Foreign withholding tax		(65,801	)		(56,325	)		(62,261	)

Total Income		528,826			550,448			532,283


Expenses:
Professional fees		30,087			30,752			28,846
Trustee fees		22,420			21,213			21,852
Licensing fees		13,448			12,729			13,123
Intraday valuation fee		10,001			10,001			9,999
Compliance service fees		2,047			2,999			4,923
Other expenses		6,475			4,703			3,992

Total Expenses		84,478			82,397			82,735

Less: Expenses waived by the Licensor		(13,448	)		(12,729	)		(13,123	)
Less: Expenses assumed by the Sponsor		(3,789	)		(6,029	)		(3,966	)

Net Expenses		67,241			63,639			65,646

Net Investment Income		461,585			486,809			466,637


Realized and Unrealized Gain (Loss):
Net realized gain (loss) from:
Investment securities		(363,579	)		(136,556	)		(103,971	)
In-kind redemptions		560,406			233,262			(107,976	)

Net realized gain (loss)		196,827			96,706			(211,947	)

Net change in unrealized appreciation (depreciation) on investment securities		(150,618	)		2,940,075			2,344,832

Net realized and unrealized gain		46,209			3,036,781			2,132,885

Net increase in net assets resulting from operations	$	507,794		$	3,523,590		$	2,599,522

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		9

Statements of Operations (continued)

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)
	2018			2017			2016
Investment Income:
Dividend income	$	2,465,880		$	2,392,879		$	2,579,436
Foreign withholding tax		(172,996	)		(212,514	)		(187,506	)

Total Income		2,292,884			2,180,365			2,391,930


Expenses:
Trustee fees		67,364			59,374			62,496
Professional fees		42,007			38,851			32,847
Licensing fees		39,888			35,626			37,534
Intraday valuation fee		10,001			10,001			9,999
Marketing expenses		2,384			4,335			17,628
Compliance service fees		1,748			2,999			14,895
Other expenses		7,868			7,767			12,414

Total Expenses		171,260			158,953			187,813

Net Investment Income		2,121,624			2,021,412			2,204,117


Realized and Unrealized Gain (Loss):
Net realized gain (loss) from:
Investment securities		(1,036,296	)		(1,205,489	)		(1,209,431	)
In-kind redemptions		2,835,262			858,492			704,578

Net realized gain (loss)		1,798,966			(346,997	)		(504,853	)

Net change in unrealized appreciation (depreciation) on investment securities		(2,757,850	)		7,766,216			(1,385,377	)

Net realized and unrealized gain (loss)		(958,884	)		7,419,219			(1,890,230	)

Net increase in net assets resulting from operations	$	1,162,740		$	9,440,631		$	313,887

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		10


	Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)
	2018			2017			2016
Investment Income:
Dividend income	$	3,577,648		$	3,040,429		$	2,857,130
Foreign withholding tax		(400,604	)		(273,187	)		(318,524	)

Total Income		3,177,044			2,767,242			2,538,606


Expenses:
Trustee fees		163,087			135,528			124,240
Licensing fees		97,851			81,326			74,655
Professional fees		76,718			44,957			45,724
Reports to shareholders fee		7,946			8,224			18,821
Compliance service fees		2,047			2,999			15,950
Marketing expenses		(59,739	)		(66,598	)		61,995
Other expenses		35,576			35,813			32,030

Total Expenses		323,486			242,249			373,415

Net Investment Income		2,853,558			2,524,993			2,165,191


Realized and Unrealized Gain (Loss):
Net realized gain (loss) from:
Investment securities		(6,503,467	)		(7,013,343	)		(5,260,453	)
In-kind redemptions		8,196,644			(251,263	)		(7,375,304	)

Net realized gain (loss)		1,693,177			(7,264,606	)		(12,635,757	)

Net change in unrealized appreciation (depreciation) on investment securities		(7,007,313	)		33,881,764			39,100,471

Net realized and unrealized gain (loss)		(5,314,136	)		26,617,158			26,464,714

Net increase (decrease) in net assets resulting from operations	$	(2,460,578	)	$	29,142,151		$	28,629,905

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		11

Statements of Operations (continued)

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Europe Select ADR Index Fund (ADRU)
	2018			2017			2016
Investment Income:
Dividend income	$	620,156		$	567,979		$	730,667
Foreign withholding tax		(44,655	)		(52,318	)		(49,725	)

Total Income		575,501			515,661			680,942


Expenses:
Professional fees		29,664			30,192			29,835
Trustee fees		16,141			13,655			16,956
Intraday valuation fee		10,001			10,001			9,999
Licensing fees		9,682			8,194			10,190
Compliance service fees		1,748			2,999			6,082
Other expenses		4,851			4,450			7,960

Total Expenses		72,087			69,491			81,022

Less: Expenses waived by the Licensor		(9,682	)		(8,194	)		(10,190	)
Less: Expenses assumed by the Sponsor		(13,991	)		(20,332	)		(19,861	)

Net Expenses		48,414			40,965			50,971

Net Investment Income		527,087			474,696			629,971


Realized and Unrealized Gain (Loss):
Net realized gain (loss) from:
Investment securities		(338,448	)		(270,159	)		(425,396	)
In-kind redemptions		415,104			(35,443	)		229,049

Net realized gain (loss)		76,656			(305,602	)		(196,347	)

Net change in unrealized appreciation (depreciation) on investment securities		(683,973	)		2,018,686			(370,151	)

Net realized and unrealized gain (loss)		(607,317	)		1,713,084			(566,498	)

Net increase (decrease) in net assets resulting from operations	$	(80,230	)	$	2,187,780		$	63,473

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		12

Statements of Changes in Net Assets

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Asia 50 ADR Index Fund (ADRA)
	2018			2017			2016
Operations:
Net investment income	$	461,585		$	486,809		$	466,637
Net realized gain (loss)		196,827			96,706			(211,947	)
Net change in unrealized appreciation (depreciation)		(150,618	)		2,940,075			2,344,832

Net increase in net assets resulting from operations		507,794			3,523,590			2,599,522


Distributions to Shareholders from:
Net investment income		(461,402	)		(454,562	)		(488,796	)


Shareholder Transactions:
Proceeds from shares sold		1,634,674			—			1,240,504
Value of shares repurchased		(3,336,241	)		(4,496,806	)		(3,866,725	)

Net increase (decrease) in net assets resulting from shares transactions		(1,701,567	)		(4,496,806	)		(2,626,221	)

Increase (Decrease) in Net Assets		(1,655,175	)		(1,427,778	)		(515,495	)


Net Assets:
Beginning of year		21,196,024			22,623,802			23,139,297

End of year	$	19,540,849		$	21,196,024		$	22,623,802

Undistributed net investment income at end of year	$	32,749		$	32,566		$	319


Changes in Shares Outstanding:
Shares sold		50,000			—			50,000
Shares repurchased		(100,000	)		(150,000	)		(150,000	)
Shares outstanding, beginning of year		650,000			800,000			900,000

Shares outstanding, ending of year		600,000			650,000			800,000

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		13

Statements of Changes in Net Assets (continued)

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)
	2018			2017			2016
Operations:
Net investment income	$	2,121,624		$	2,021,412		$	2,204,117
Net realized gain (loss)		1,798,966			(346,997	)		(504,853	)
Net change in unrealized appreciation (depreciation)		(2,757,850	)		7,766,216			(1,385,377	)

Net increase in net assets resulting from operations		1,162,740			9,440,631			313,887


Distributions to Shareholders from:
Net investment income		(2,056,893	)		(2,126,666	)		(2,419,239	)


Shareholder Transactions:
Proceeds from shares sold		8,046,840			3,228,202			3,096,979
Value of shares repurchased		(13,743,877	)		(5,252,851	)		(7,748,881	)

Net increase (decrease) in net assets resulting from shares transactions		(5,697,037	)		(2,024,649	)		(4,651,902	)

Increase (Decrease) in Net Assets		(6,591,190	)		5,289,316			(6,757,254	)


Net Assets:
Beginning of year		63,782,949			58,493,633			65,250,887

End of year	$	57,191,759		$	63,782,949		$	58,493,633

Undistributed net investment income at end of year	$	(319,009	)	$	(383,740	)	$	(357,764	)


Changes in Shares Outstanding:
Shares sold		350,000			150,000			150,000
Shares repurchased		(600,000	)		(250,000	)		(400,000	)
Shares outstanding, beginning of year		2,800,000			2,900,000			3,150,000

Shares outstanding, ending of year		2,550,000			2,800,000			2,900,000

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		14


	Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)
	2018			2017			2016
Operations:
Net investment income	$	2,853,558		$	2,524,993		$	2,165,191
Net realized gain (loss)		1,693,177			(7,264,606	)		(12,635,757	)
Net change in unrealized appreciation (depreciation)		(7,007,313	)		33,881,764			39,100,471

Net increase (decrease) in net assets resulting from operations		(2,460,578	)		29,142,151			28,629,905


Distributions to Shareholders from:
Net investment income		(2,789,019	)		(2,747,944	)		(2,825,467	)


Shareholder Transactions:
Proceeds from shares sold		16,696,088			4,148,878			4,529,729
Value of shares repurchased		(26,979,018	)		(5,281,019	)		(24,580,528	)

Net increase (decrease) in net assets resulting from shares transactions		(10,282,930	)		(1,132,141	)		(20,050,799	)

Increase (Decrease) in Net Assets		(15,532,527	)		25,262,066			5,753,639


Net Assets:
Beginning of year		155,631,012			130,368,946			124,615,307

End of year	$	140,098,485		$	155,631,012		$	130,368,946

Undistributed net investment income at end of year	$	(1,128,199	)	$	(1,192,738	)	$	(969,787	)


Changes in Shares Outstanding:
Shares sold		400,000			100,000			150,000
Shares repurchased		(650,000	)		(150,000	)		(850,000	)
Shares outstanding, beginning of year		3,700,000			3,750,000			4,450,000

Shares outstanding, ending of year		3,450,000			3,700,000			3,750,000

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		15

Statements of Changes in Net Assets (continued)

For the years ended September 30, 2018, 2017, 2016


	Invesco BLDRS Europe Select ADR Index Fund (ADRU)
	2018			2017			2016
Operations:
Net investment income	$	527,087		$	474,696		$	629,971
Net realized gain (loss)		76,656			(305,602	)		(196,347	)
Net change in unrealized appreciation (depreciation)		(683,973	)		2,018,686			(370,151	)

Net increase (decrease) in net assets resulting from operations		(80,230	)		2,187,780			63,473


Distributions to Shareholders from:
Net investment income		(510,359	)		(512,980	)		(729,587	)


Shareholder Transactions:
Proceeds from shares sold		2,360,328			—			—
Value of shares repurchased		(2,172,137	)		(1,906,198	)		(2,967,480	)

Net increase (decrease) in net assets resulting from shares transactions		188,191			(1,906,198	)		(2,967,480	)

Increase (Decrease) in Net Assets		(402,398	)		(231,398	)		(3,633,594	)


Net Assets:
Beginning of year		14,561,374			14,792,772			18,426,366

End of year	$	14,158,976		$	14,561,374		$	14,792,772

Undistributed net investment income at end of year	$	(72,641	)	$	(89,369	)	$	(125,348	)


Changes in Shares Outstanding:
Shares sold		100,000			—			—
Shares repurchased		(100,000	)		(100,000	)		(150,000	)
Shares outstanding, beginning of year		650,000			750,000			900,000

Shares outstanding, ending of year		650,000			650,000			750,000

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		16

Financial Highlights

Invesco BLDRS Asia 50 ADR Index Fund (ADRA)


	Year Ended September 30,
	2018			2017			2016			2015			2014
Per Share Operating Performance:
Net asset value at beginning of year	$	32.61		$	28.28		$	25.71		$	29.12		$	29.06
Net investment income^(a)		0.71			0.69			0.56			0.72			0.67
Net realized and unrealized gain (loss) on investments		(0.02	)		4.31			2.61			(3.41	)		0.09
Total from investment operations		0.69			5.00			3.17			(2.69	)		0.76
Distributions to shareholders from:
Net investment income		(0.73	)		(0.67	)		(0.60	)		(0.72	)		(0.70	)
Net asset value at end of year	$	32.57		$	32.61		$	28.28		$	25.71		$	29.12
Net Asset Value Total Return^(b)		2.06	%		17.83	%		12.51	%		(9.44	)%		2.59	%
Ratios/Supplemental Data
Net assets at end of year (000’s omitted)	$	19,541		$	21,196		$	22,624		$	23,139		$	26,209
Ratio to average net assets of:
Expenses, after Waivers		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%
Expenses, prior to Waivers		0.38	%		0.39	%		0.38	%		0.40	%		0.37	%
Net investment income, after Waivers		2.06	%		2.29	%		2.13	%		2.43	%		2.29	%
Portfolio turnover rate^(c)		9.25	%		11.53	%		7.00	%		11.27	%		3.47	%

^(a)	Based on average shares outstanding.

^(b)

Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Total investment returns calculated for a period of less than one year are not annualized.

^(c)	Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions.

Invesco BLDRS Developed Markets 100 ADR Index Fund (ADRD)


	Year Ended September 30,
	2018			2017			2016			2015			2014
Per Share Operating Performance:
Net asset value at beginning of year	$	22.78		$	20.17		$	20.71		$	24.21		$	23.70
Net investment income^(a)		0.74			0.72			0.71			0.79			1.23	^(b)
Net realized and unrealized gain (loss) on investments		(0.36	)		2.65			(0.46	)		(3.45	)		0.49
Total from investment operations		0.38			3.37			0.25			(2.66	)		1.72
Distributions to shareholders from:
Net investment income		(0.73	)		(0.76	)		(0.79	)		(0.84	)		(1.21	)
Net asset value at end of year	$	22.43		$	22.78		$	20.17		$	20.71		$	24.21
Net Asset Value Total Return^(c)		1.65	%		17.01	%		1.34	%		(11.26	)%		7.29	%
Ratios/Supplemental Data
Net assets at end of year (000’s omitted)	$	57,192		$	63,783		$	58,494		$	65,251		$	56,889
Ratio to average net assets of:
Expenses, after Waivers		0.26	%		0.27	%		0.30	%		0.30	%		0.30	%
Expenses, prior to Waivers		0.26	%		0.27	%		0.30	%		0.30	%		0.30	%
Net investment income after Waivers		3.19	%		3.40	%		3.52	%		3.38	%		4.97	%^(b)
Portfolio turnover rate^(d)		2.83	%		5.30	%		5.05	%		4.06	%		6.56	%

^(a)	Based on average shares outstanding.

^(b)

Net investment income per share, ratio of net investment income before expenses waived and/or assumed and net investment income after expenses waived and/or assumed to include a significant dividend received during the period. Net investment income per share, ratio of net investment income before expenses waived and/or assumed and net investment income after expenses waived and/or assumed excluding the significant dividends are $0.77, 3.11% and 3.11%, respectively.

^(c)

^(d)	Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		17

Financial Highlights (continued)

Invesco BLDRS Emerging Markets 50 ADR Index Fund (ADRE)


	Year Ended September 30,
	2018			2017			2016			2015			2014
Per Share Operating Performance:
Net asset value at beginning of year	$	42.06		$	34.77		$	28.00		$	39.20		$	37.03
Net investment income^(a)		0.76			0.69			0.53			0.66			0.84
Net realized and unrealized gain (loss) on investments		(1.45	)		7.35			6.94			(10.97	)		2.16
Total from investment operations		(0.69	)		8.04			7.47			(10.31	)		3.00
Distribution to shareholders from:
Net investment income		(0.76	)		(0.75	)		(0.70	)		(0.89	)		(0.83	)
Net asset value at end of year	$	40.61		$	42.06		$	34.77		$	28.00		$	39.20
Net Asset Value Total Return^(b)		(1.65	)%		23.33	%		26.99	%		(26.58	)%		8.17	%
Ratios/Supplemental Data
Net assets at end of year (000’s omitted)	$	140,098		$	155,631		$	130,369		$	124,615		$	213,658
Ratio to average net assets of:
Expenses		0.20	%		0.18	%		0.30	%		0.30	%		0.30	%
Net investment income		1.75	%		1.86	%		1.74	%		1.87	%		2.20	%
Portfolio turnover rate^(c)		10.30	%		10.66	%		7.61	%		17.51	%		8.34	%

^(a)	Based on average shares outstanding.

^(b)

^(c)	Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions.

Invesco BLDRS Europe Select ADR Index Fund (ADRU)


	Year Ended September 30,
	2018			2017			2016			2015			2014
Per Share Operating Performance:
Net asset value at beginning of year	$	22.40		$	19.72		$	20.47		$	24.33		$	23.30
Net investment income^(a)		0.73			0.71			0.74			0.77			1.36	^(b)
Net realized and unrealized gain (loss) on investments		(0.63	)		2.76			(0.62	)		(3.75	)		1.02
Total from investment operations		0.10			3.47			0.12			(2.98	)		2.38
Distribution to shareholders from:
Net investment income		(0.72	)		(0.79	)		(0.87	)		(0.88	)		(1.35	)
Net asset value at end of year	$	21.78		$	22.40		$	19.72		$	20.47		$	24.33
Net Asset Value Total Return^(c)		0.43	%		17.94	%		0.70	%		(12.53	)%		10.28	%
Ratios/Supplemental Data
Net assets at end of year (000’s omitted)	$	14,159		$	14,561		$	14,793		$	18,426		$	19,466
Ratio to average net assets of:
Expenses, after Waivers		0.30	%		0.30	%		0.30	%		0.30	%		0.30	%
Expenses, prior to Waivers		0.45	%		0.51	%		0.48	%		0.43	%		0.47	%
Net investment income after Waivers		3.27	%		3.48	%		3.71	%		3.34	%		5.49	%^(b)
Portfolio turnover rate^(d)		1.96	%		5.85	%		5.24	%		4.79	%		7.79	%

^(a)	Based on average shares outstanding.

^(b)

^(c)

^(d)	Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions.

See accompanying Notes to Financial Statements which are an integral part of the financial statements.


		18

Notes to Financial Statements

Invesco BLDRS Index Funds Trust

September 30, 2018

Note 1. Organization

Invesco BLDRS Index Funds Trust (the “Trust”), formerly BLDRS Index Funds Trust, is a unit investment trust consisting of four separate investment portfolios (each a “Fund” and collectively the “Funds”). The Trust was organized under the laws of the State of New York and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”). This report includes the following portfolios:


Full Name		Short Name
Invesco BLDRS Asia 50 ADR Index Fund		“Asia”
Invesco BLDRS Developed Markets 100 ADR Index Fund		“Developed Markets”
Invesco BLDRS Emerging Markets 50 ADR Index Fund		“Emerging Markets”
Invesco BLDRS Europe Select ADR Index Fund		“Europe”

Effective June 4, 2018, the Funds’ names changed as part of an overall rebranding strategy of the Invesco brand as follows:


Previous Name		New Name
BLDRS Asia 50 ADR Index Fund		Invesco BLDRS Asia 50 ADR Index Fund
BLDRS Developed Markets 100 ADR Index Fund		Invesco BLDRS Developed Markets 100 ADR Index Fund
BLDRS Emerging Markets 50 ADR Index Fund		Invesco BLDRS Emerging Markets 50 ADR Index Fund
BLDRS Europe Select ADR Index Fund		Invesco BLDRS Europe Select ADR Index Fund

The shares of the Funds are referred to herein as “Shares” or “Fund’s Shares.” Each Fund’s Shares are listed and traded on The NASDAQ Stock Market.

The market price of each Share may differ to some degree from a Fund’s net asset value (“NAV”). Unlike conventional mutual funds, each Fund issues and redeems Shares on a continuous basis, at NAV, only in a large specified number of Shares, each called a “Creation Unit.” Creation Units are issued and redeemed principally in-kind for securities included in the relevant benchmark BNY Mellon ADR Index.

The investment objective of each Fund is to provide investment results that generally correspond (before fees and expenses) to the price and yield of its respective index listed below (each a “BNY Mellon ADR Index”):


Fund		BNY Mellon ADR Index
Asia		BNY Mellon Asia 50 ADR Index^SM
Developed Markets		BNY Mellon Developed Markets 100 ADR Index^SM
Emerging Markets		BNY Mellon Emerging Markets 50 ADR Index^SM
Europe		BNY Mellon Europe Select ADR Index^SM

The Bank of New York Mellon (the “Trustee”) has entered into an Agency Agreement with Invesco Capital Management LLC (the “Sponsor”) (the “Agency Agreement”), formerly Invesco PowerShares Capital Management LLC. Under the terms of the Agency Agreement, the Sponsor will perform certain functions on behalf of the Trustee: (a) relating to the evaluation of the portfolio securities held by the Funds for the purposes of determining the net asset value of the Funds, and (b) relating to rebalancing and adjustments of the Trust’s portfolios.

Note 2. Significant Accounting Policies

The following is a summary of the significant accounting policies followed by the Funds in preparation of their financial statements.

Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services—Investment Companies.

A. Security Valuation

Securities, including restricted securities, are valued according to the following policies:

Portfolio securities are valued at the last trade or official closing price of the exchange on which they trade, which is deemed to be the principal market on which the securities are traded, or if there is no last trade or official closing price on the day of valuation, a security


		19

is valued at the closing bid price on that day. If a security is not quoted, if the principal market of the security is other than an exchange, or the Sponsor deems the last trade, official close price or closing bid price inappropriate for valuation purposes, then the security shall be fair valued in good faith by the Sponsor, in a manner consistent with the Trust Indenture and Agreement (the “Trust Agreement”) and the Agency Agreement based (a) on the last trade or closing price for the security on another market on which the security is traded or if there is no such appropriate closing price, at the closing bid price on such other market, (b) on current bid prices on the principal market or such other markets, (c) if bid prices are not available, on the basis of current bid prices for comparable securities, (d) by the Sponsor appraising the value of the securities in good faith, or (e) any combination thereof. In the event that the Agency Agreement is terminated, the Trustee would be responsible for the valuation steps set forth above in accordance with the terms and conditions of the Trust Agreement.

B. Other Risks

Index Risk. Unlike many investment companies, the Funds do not utilize investing strategies that seek returns in excess of their BNY Mellon ADR Index. Therefore, a Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its respective BNY Mellon ADR Index, even if that security generally is underperforming.

Equity Risk. Equity risk is the risk that the value of the securities that each Fund holds will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities that a Fund holds participate or factors relating to specific companies in which the Funds invest. For example, an adverse event, such as an unfavorable earnings report, may depress the value of securities a Fund holds; the price of securities may be particularly sensitive to general movements in the stock market; or a drop in the stock market may depress the price of most or all of the securities a Fund holds. In addition, securities of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated dividend payments because, among other reasons, the issuer of the security experiences a decline in its financial condition.

Non-Diversified Fund Risk. The Funds are non-diversified and can invest a greater portion of their assets in securities of individual issuers than diversified funds. As a result, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase a Fund’s volatility and cause the performance of a relatively small number of issuers to have a greater impact on a Fund’s performance.

Foreign Market Risk. The underlying securities of the Depositary Receipts in a Fund’s portfolio trade on foreign exchanges at times when the U.S. markets are not open for trading, the value of the Depositary Receipts representing those underlying securities may change materially at times when the U.S. markets are not open for trading, regardless of whether there is an active U.S. market for fund shares.

Emerging Markets Risk. The risks of foreign investments are usually much greater for emerging markets. Emerging markets are riskier because they develop unevenly and may never fully develop. They are more likely to experience hyperinflation and currency devaluations, which adversely affect returns to U.S. investors. In addition, the securities markets in many of these countries have far lower trading volumes and less liquidity than developed markets. Because these markets are so small, they may be more likely to suffer sharp and frequent price changes or long term price depression due to adverse publicity, investor perceptions or the transactions of a few large investors. Traditional measures of investment value used in the U.S., such as price to earnings ratios, may not apply to certain small markets, making it more difficult to value their securities.

Non-Correlation Risk. Each Fund’s return may not match the return of its BNY Mellon ADR Index for a number of reasons. For example, each Fund incurs operating expenses not applicable to its BNY Mellon ADR Index, and incurs costs in buying and selling securities, especially when rebalancing each Fund’s securities holdings to reflect changes in the composition of its BNY Mellon ADR Index. In addition, the performance of each Fund and its BNY Mellon ADR Index may vary due to asset valuation differences and differences between each Fund’s portfolio and its BNY Mellon ADR Index resulting from legal restrictions, cost or liquidity constraints.

C. Federal Income Taxes

Each Fund intends to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and to distribute substantially all of the Fund’s taxable earnings to its shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized gains) that is distributed to the shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements.

Each Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund’s uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.

Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from accounting principles generally accepted in the United States of America (“GAAP”). These differences are primarily due to differing book and tax treatments for in-kind transactions and losses deferred due to wash sales, if any.


		20

The Funds file U.S. federal tax returns and tax returns in certain other jurisdictions. Generally, a Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.

D. Investment Transactions and Investment Income

Investment transactions are accounted for on a trade date basis. Realized gains and losses from the sale or disposition of securities are computed on the specific identified cost basis. Interest income is recorded on the accrual basis from settlement date. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Realized gains, dividends and interest received by each Fund may give rise to withholding and other taxes imposed by foreign countries. Tax conventions between certain countries and the United States may reduce or eliminate such taxes.

The Funds may periodically participate in litigation related to each Fund’s investments. As such, the Funds may receive proceeds from litigation settlements. Any proceeds received are included in the Statements of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.

E. Expenses

Under the Trust Agreement, the Trust is responsible for the Trustee’s fee (including fees for extraordinary expenses and other services), transfer agency services fees, governmental fees, any taxes, fees and charges payable by the Trustee with respect to Shares, indemnification of the Trustee or the Sponsor, brokerage commissions and other transactional charges and other out-of-pocket expenses of a Fund.

In addition, the Trust may be charged for expenses related to reimbursement to the Sponsor for annual licensing fees, federal and state annual registration fees and expenses of the Sponsor relating to the printing and distribution of marketing materials. Pursuant to the provisions of an exemptive order, the expenses set forth in this paragraph may be charged to the Trust in an amount equal to the actual costs incurred, but shall not exceed 0.30% per annum of the daily NAV of the Trust.

F. Dividends and Distributions to Shareholders

The Funds declare and distribute dividends, if any, from net investment income quarterly. The Funds will distribute net realized capital gains, if any, at least annually.

G. Accounting Estimates

The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements, including estimates and assumptions related to taxation. Actual results could differ from these estimates. In addition, the Funds monitor for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print.

Note 3. Agreements with the Trustee, Licensor and Sponsor

The Funds accrue daily and pay monthly the expenses of their operations, including Trustee fees, reimbursements to the Sponsor for expenses relating to the marketing of the Funds and fees to The Bank of New York Mellon (the “Licensor”) for a license to use each BNY Mellon ADR Index as a basis for determining the composition and weighting of securities held by each respective Fund. Each Fund pays an annual licensing fee to the Licensor equal to 6/100th of one percent (0.06%) of its average net assets subject to the waiver provisions discussed below.

In accordance with the Trust Agreement, the Trustee maintains the Funds’ accounting records, acts as custodian and transfer agent to the Funds, and provides administrative services, including filing of all required regulatory reports. The Trustee is also responsible for determining the composition of the portfolios of securities, which must be delivered in exchange for the issuance of Creation Units of the Funds, and for adjusting the composition of each Fund’s portfolio from time to time to conform to changes in the compositions and/or weighting structure of each respective BNY Mellon ADR Index.

For these services, the Trustee receives a fee from each Fund at the following annual rates:


Net Assets		Fee as Percentage of Net Assets
$0-$499,999,999*		10/100 of 1% per annum
$500,000,000-$2,499,999,999*		8/100 of 1% per annum
$2,500,000,000 and above*		6/100 of 1% per annum

*	The fee indicated applies to that portion of the net assets of each Fund that falls in the size category indicated and is computed each business day on the basis of the net assets of the Fund on such day.

Marketing expenses for the years ended September 30, 2018, 2017 and 2016, represent expenses incurred by the Sponsor, if any, on behalf of the Funds and charged to the Funds, subject to the reimbursement provisions below.


		21

Marketing expenses are paid by the Sponsor on behalf of the Trust for invoices received directly by the Sponsor during the year. The following amounts remain payable to the Sponsor as of September 30, 2018.


Asia	$	—
Developed Markets		25,958
Emerging Markets		37,999
Europe		—

In accordance with the terms of the Trust Agreement and the Agency Agreement, the Trustee will pay, from its own assets, the Sponsor to perform the following services for the Trust: adjust the composition of the portfolio, calculate and adjust, if necessary, the weighting of each security in the portfolio, dispose of or exchange securities after it has been determined that such securities will be removed from the Index and direct securities transactions to brokers or dealers, which may include affiliates of the Trustee, but will not include affiliates of the Sponsor.

The Sponsor had undertaken that on each day during the fiscal year ended September 30, 2018, and until determined otherwise, the ordinary operating expenses of the Funds as calculated by the Trustee would not be permitted to exceed an amount which is 30/100 of one percent (0.30%) per annum of the daily net asset value of each Fund. To the extent during such period that ordinary operating expenses of a Fund exceeded such 0.30% amount, the Licensor first waived licensing fees applicable to the Fund and, if such waiver was insufficient, the Sponsor thereafter reimbursed the Fund for or assumed such excess ordinary operating expenses. The Licensor and Sponsor may be repaid by the Funds for licensing fees so waived or expenses so reimbursed or assumed respectively, in each case to the extent that subsequently during the fiscal year expenses fall below the 0.30% per annum level on any given day.

For the fiscal years ended September 30, 2018, 2017 and 2016, the Licensor waived and the Sponsor assumed the following expenses incurred by the Funds:


	License Fees Waived by Licensor Fiscal Year Ended September 30,						Expenses Assumed by the Sponsor Fiscal Year Ended September 30,
	2018		2017		2016		2018		2017		2016
Asia	$	13,448	$	12,729	$	13,123	$	3,789	$	6,029	$	3,966
Developed Markets		—		—		—		—		—		—
Emerging Markets		—		—		—		—		—		—
Europe		9,682		8,194		10,190		13,991		20,332		19,861

Invesco Distributors, Inc., an affiliate of the Sponsor, is the distributor for the Funds. The Sponsor, not the Funds, pays the Distributor a flat annual fee of $20,000 for each Fund for its distribution services and the Funds do not reimburse the Sponsor for such fees.

Note 4. Additional Valuation Information

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 or are unreliable. 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 a Fund’s own 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.

As of September 30, 2018, all of the securities in each Fund were valued based on Level 1 inputs (see the Schedules of Investments for security categories). 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.


		22

Each Fund’s policy is to recognize transfers in and out of the valuation levels as of the end of the reporting period. During the fiscal year ended September 30, 2018, there were no transfers between valuation levels.

Note 5. Distributions to Shareholders and Tax Components of Net Assets

Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended September 30, 2018, 2017 and 2016:


	Ordinary Income
	2018		2017		2016
Asia	$	461,402	$	454,562	$	488,796
Developed Markets		2,056,893		2,126,666		2,419,239
Emerging Markets		2,789,019		2,747,944		2,825,467
Europe		510,359		512,980		729,587

Tax Components of Net Assets at Fiscal Year-End:


	Undistributed Ordinary Income		Temporary Book/Tax Differences			Net Unrealized Appreciation (Depreciation)- Investments			Capital Loss Carryforwards			Post-October Capital Losses Deferrals*			Shares of Beneficial Interest		Total Net Assets
Asia	$	205,376	$	(172,624	)	$	(1,886,087	)	$	(3,708,810	)	$	(380,117	)	$	25,483,111	$	19,540,849
Developed Markets		119,974		(438,984	)		(16,100,280	)		(8,883,010	)		(772,814	)		83,266,873		57,191,759
Emerging Markets		365,286		(1,493,484	)		(6,262,105	)		(78,046,925	)		(5,662,776	)		231,198,489		140,098,485
Europe		36,669		(109,312	)		(4,111,755	)		(3,390,318	)		(308,313	)		22,042,005		14,158,976

*	The Funds will elect to defer net capital losses incurred after October 31 (“Post-October Capital Losses”) within the taxable year that are deemed to arise on the first business day of each Fund’s next taxable year.

Capital loss carryforwards are calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforwards actually available for the Funds to utilize. Capital losses generated in years beginning after December 22, 2010 can be carried forward for an unlimited period, whereas previous losses expire within eight tax years. Capital losses with an expiration date may not be used to offset capital gains until all net capital losses without an expiration date have been utilized. Capital loss carryforwards with no expiration date will retain their character as either short-term or long-term capital losses instead of as short-term capital losses as under prior law. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.

The following table presents available capital loss carryforwards and expiration dates for each Fund as of September 30, 2018:


			Post-effective/no expiration
	2019		Short-Term		Long-Term		Total*
Asia	$	298,791	$	333,869	$	3,076,150	$	3,708,810
Developed Markets		2,608,098		60,704		6,214,208		8,883,010
Emerging Markets		1,412,302		4,621,252		72,013,371		78,046,925
Europe		1,078,809		3,509		2,308,000		3,390,318

Capital loss carryforwards as of the date listed above is reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

Note 6. Investment Transactions

For the fiscal year ended September 30, 2018, the cost of securities purchased and proceeds from sales of securities (other than short-term securities, U.S. Treasury obligations, money market funds and in-kind transactions, if any) were as follows:


	Purchases		Sales
Asia	$	2,044,749	$	2,065,831
Developed Markets		1,873,211		2,090,184
Emerging Markets		16,635,454		16,673,991
Europe		315,745		434,618


		23

For the fiscal year ended September 30, 2018, in-kind transactions associated with creations and redemptions were as follows:


	Cost of Securities Received		Value of Securities Delivered
Asia	$	1,632,451	$	3,314,873
Developed Markets		8,039,505		13,657,557
Emerging Markets		16,784,228		27,058,214
Europe		2,385,195		2,168,429

Gains (losses) on in-kind transactions are generally not considered taxable gains (losses) for federal income tax purposes.

At September 30, 2018, cost of investments, including any derivatives, on a tax basis includes adjustments for financial reporting purposes, as of the most recently completed federal income tax reporting period-end.


	Gross Unrealized Appreciation		Gross Unrealized (Depreciation)			Net Unrealized Appreciation (Depreciation)			Cost
Asia	$	3,126,670	$	(5,012,757	)	$	(1,886,087	)	$	21,389,445
Developed Markets		3,009,647		(19,109,927	)		(16,100,280	)		73,541,213
Emerging Markets		32,471,886		(38,733,991	)		(6,262,105	)		146,337,599
Europe		1,064,946		(5,176,701	)		(4,111,755	)		18,323,941

Note 7. Reclassification of Permanent Differences

Primarily as a result of differing book/tax treatment of in-kind transactions and expired capital loss carryforwards on September 30, 2018, amounts were reclassified between undistributed net investment income, undistributed net realized gain (loss) and Shares of beneficial interest. These reclassifications had no effect on the net assets of each Fund. For the fiscal year ended September 30, 2018, the reclassifications were as follows:


	Undistributed Net Investment Income		Undistributed Net Realized Gain (Loss)		Shares of Beneficial Interest
Asia	$	—	$	3,622,899	$	(3,622,899	)
Developed Markets		—		6,172,844		(6,172,844	)
Emerging Markets		—		3,694,921		(3,694,921	)
Europe		—		1,921,257		(1,921,257	)

Note 8. Capital

The Shares of the Funds are issued and redeemed only in Creation Units of 50,000 Shares. Such transactions are only permitted on an in-kind basis, with a separate cash payment that is equivalent to the undistributed net investment income of the shares and a balancing cash component to equate the transaction to the net asset value of the shares on the transaction date. The transaction fee in connection with creation or redemption of Creation Units through the continuous net settlement system of National Securities Clearing Corporation (the “Clearing Process”) is $10 per security “name” in the portfolio deposit or redemption payment, rounded up to the nearest $500 for Asia and Emerging Markets and to $1,000 for Developed Markets and Europe per participating party per day, regardless of the number of Creation Units purchased or redeemed on such day by the participating party. The total fee that can be charged in connection with the creation or redemption of Creation Units outside the Clearing Process is four times the normal transaction cost of $500 ($2,000) and $1,000 ($4,000) per participating party per day.

Transaction fees are received by the Trustee and used to offset its expense of processing orders. For fiscal years ended September 30, 2018, 2017 and 2016, the Trustee earned the following amounts in transaction fees:


	For the Fiscal Year Ended September 30,
	2018		2017		2016
Asia	$	1,500	$	1,500	$	2,000
Developed Markets		10,000		6,000		7,000
Emerging Markets		6,500		2,500		7,500
Europe		4,000		2,000		2,000

The Trustee, in its sole discretion, may voluntarily reduce or waive its fee, or modify the transaction fee schedule, subject to certain limitations. There were no such reductions or waivers for the years ended September 30, 2018, 2017 or 2016.


		24

Note 9. Indemnifications

In the normal course of business, the Funds enter into contracts that contain a variety of representations and warranties which provide general indemnifications. The Funds’ maximum exposure under these arrangements is unknown as this would involve future claims that maybe made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.


		25

Report of Independent Registered Public Accounting Firm

To the Sponsor and Trustee of Invesco BLDRS Index Funds Trust and Unitholders of Invesco BLDRS Asia 50 ADR Index Fund, Invesco BLDRS Developed Markets 100 ADR Index Fund, Invesco BLDRS Emerging Markets 50 ADR Index Fund and Invesco BLDRS Europe Select ADR Index Fund

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Invesco BLDRS Asia 50 ADR Index Fund, Invesco BLDRS Developed Markets 100 ADR Index Fund, Invesco BLDRS Emerging Markets 50 ADR Index Fund and Invesco BLDRS Europe Select ADR Index Fund (constituting Invesco BLDRS Index Fund Trust, hereafter collectively referred to as the “Funds”) as of September 30, 2018, the related statements of operations and changes in net assets for each of the three years in the period ended September 30, 2018, including the related notes, and the financial highlights for each of the five years in the period ended September 30, 2018 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of September 30, 2018, the results of each of their operations and changes in each of their net assets for each of the three years in the period ended September 30, 2018, and each of the financial highlights for each of the five years in the period ended September 30, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinions

These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of September 30, 2018 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinions.

PricewaterhouseCoopers LLP

Chicago, Illinois

December 14, 2018

We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.


		26

Supplemental Information

(Unaudited)

Invesco BLDRS Asia 50 ADR Index Fund

Invesco BLDRS Developed Markets 100 ADR Index Fund

Invesco BLDRS Emerging Markets 50 ADR Index Fund

Invesco BLDRS Europe Select ADR Index Fund

I. Information Regarding Closing Prices vs. Net Asset Value Frequency Distribution for Each Invesco BLDRS Fund

The tables that follow present information about the differences between the daily market price on secondary markets for shares of a Invesco BLDRS Fund and that Fund’s net asset value. Net Asset Value, or “NAV”, is the price at which a Fund issues and redeems shares. The “Closing Market Price” of shares in each Invesco BLDRS Fund is determined and published by The NASDAQ Stock Market, as of the time that the Funds’ NAV is calculated. Each Fund’s Closing Market Price may be below, at, or above its NAV. The NAV for each Fund will fluctuate with changes in the market value of its portfolio holdings.

Premiums or discounts are the differences (expressed as a percentage) between the NAV and Closing Market Price of a Fund on a given day, generally at the time NAV is calculated. A premium is the amount that a Fund is trading above the reported NAV, expressed as a percentage of the NAV. A discount is the amount that a Fund is trading below the reported NAV, expressed as a percentage of the NAV.

The following information shows the frequency distributions of premiums and discounts for each of the Invesco BLDRS Funds included in this report. The information shown for each Fund is from October 1, 2013 through September 30, 2018.

Each line in the table shows the number of trading days in which the Invesco BLDRS Funds traded within the premium/discount range indicated. The number of trading days in each premium/discount range is also shown as a percentage of the total number of trading days in the period covered by each table. All data presented here represents past performance, which cannot be used to predict future performance.

Invesco BLDRS Asia 50 ADR Index Fund

Five Year Period Ended September 30, 2018


	Closing Price on NASDAQ Above Fund NAV				Closing Price on NASDAQ Below Fund NAV
Range	Frequency^(a)		% of Total		Frequency^(a)		% of Total
>0% to 0.50%		501		98.42%		704		93.87%
>0.50% to 1.00%		7		1.38%		29		3.87%
>1.0 % to 2.00%		1		0.20%		7		0.93%
>2.00%		—		—%		10		1.33%
Total		509		100.00%		750		100.00%

Invesco BLDRS Developed Markets 100 ADR Index Fund

Five Year Period Ended September 30, 2018


	Closing Price on NASDAQ Above Fund NAV				Closing Price on NASDAQ Below Fund NAV
Range	Frequency^(a)		% of Total		Frequency^(a)		% of Total
>0% to 0.50%		585		99.32%		667		99.55%
>0.50% to 1.00%		4		0.68%		2		0.30%
>1.00% to 2.00%		—		—%		1		0.15%
>2.00%		—		—%		—		—%
Total		589		100.00%		670		100.00%


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Supplemental Information (continued)

(Unaudited)

Invesco BLDRS Emerging Markets 50 ADR Index Fund

Five Year Period Ended September 30, 2018


	Closing Price on NASDAQ Above Fund NAV				Closing Price on NASDAQ Below Fund NAV
Range	Frequency^(a)		% of Total		Frequency^(a)		% of Total
>0% to 0.50%		380		98.96%		874		99.89%
>0.50% to 1.00%		3		0.78%		1		0.11%
>1.00% to 2.00%		1		0.26%		—		—%
>2.00%		—		—%		—		—%
Total		384		100.00%		875		100.00%

Invesco BLDRS Europe Select ADR Index Fund

Five Year Period Ended September 30, 2018


	Closing Price on NASDAQ Above Fund NAV				Closing Price on NASDAQ Below Fund NAV
Range	Frequency^(a)		% of Total		Frequency^(a)		% of Total
>0% to 0.50%		520		99.62%		723		98.10%
>0.50% to 1.00%		1		0.19%		12		1.62%
>1.00% to 2.00%		1		0.19%		1		0.14%
>2.00%		—		0.00%		1		0.14%
Total		522		100.00%		737		100.00%

^(a)	Number of Trading Days refers to the number of days during which there is buy/sell activity for the Fund on the Exchange.

II. Annualized and Cumulative Returns for each Invesco BLDRS Fund

Annualized Total Return

For the Period Ending September 30, 2018


	Past One Year^(a)						Past Five Year^(a)						Past Ten Year^(a)						From Inception^(a)
Invesco BLDRS Fund	NAV		Closing Market		Index		NAV		Closing Market		Index		NAV		Closing Market		Index		NAV		Closing Market		Index
Invesco BLDRS Asia 50 ADR Index Fund		2.06%		1.62%		2.10%		4.68%		4.67%		4.21%		5.20%		5.17%		4.47%		7.05%		7.00%		6.57%
Invesco BLDRS Developed Markets 100 ADR Index Fund		1.60%		1.60%		1.80%		2.79%		2.79%		2.80%		3.81%		3.81%		3.72%		6.17%		6.18%		6.22%
Invesco BLDRS Emerging Markets 50 ADR Index Fund		-1.59%		-1.79%		-1.49%		4.13%		4.12%		4.20%		3.04%		3.09%		3.22%		10.60%		10.54%		10.68%
Invesco BLDRS Europe Select ADR Index Fund		0.38%		0.16%		0.74%		2.84%		2.82%		3.13%		3.76%		3.74%		4.00%		6.32%		6.28%		6.63%


		28

Supplemental Information (continued)

(Unaudited)

Cumulative Total Return

For the Period Ending September 30, 2018


	Past One Year^(a)						Past Five Year^(a)						Past Ten Year^(a)						From Inception^(a)
Invesco BLDRS Fund	NAV		Closing Market		Index		NAV		Closing Market		Index		NAV		Closing Market		Index		NAV		Closing Market		Index
Invesco BLDRS Asia 50 ADR Index Fund		2.06%		1.62%		2.10%		25.68%		25.65%		22.87%		66.05%		66.50%		54.79%		195.10%		192.80%		174.50%
Invesco BLDRS Developed Markets 100 ADR Index Fund		1.60%		1.60%		1.80%		14.76%		14.75%		14.79%		45.40%		45.39%		44.09%		158.62%		159.25%		160.70%
Invesco BLDRS Emerging Markets 50 ADR Index Fund		-1.59%		-1.79%		-1.49%		22.41%		22.34%		22.85%		34.94%		35.54%		37.30%		395.07%		390.70%		400.73%
Invesco BLDRS Europe Select ADR Index Fund		0.38%		0.16%		0.74%		15.06%		14.94%		16.64%		44.68%		44.31%		47.96%		164.60%		163.17%		177.26%

^(a)	Annualized and Cumulative Total Returns for the period since inception are calculated from the inception date of November 13, 2002. “Cumulative Total Return” represents the total change in value of an investment over the period indicated.

Closing Market Price and NAV returns assume that dividends and capital gains distributions have been reinvested in each Fund at market closing price and net asset value, respectively. Since Fund shares typically do not trade in the secondary market until after several days after Fund inception, for the period from inception to the first day of secondary market trading in fund shares, the net asset value is used as a proxy for secondary market trading price to calculate closing market returns.

Unlike a Fund, an Index does not actually hold a portfolio of securities and therefore does not incur the expenses incurred by a Fund. Fund expenses negatively impact the performance of a Fund. Also, market returns do not include brokerage commissions that may be payable on secondary market transactions. If brokerage commissions were included, market returns would be lower. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Fund shares may be worth more or less than their original cost when they are redeemed or sold in the market. A Fund’s past performance is no guarantee of future results.


		29

Supplemental Information (continued)

(Unaudited)

Amendment No. 4 to the Standard Terms and Conditions of Trust, dated as of January 26, 2018 (“Amendment No. 4”), made by the Sponsor and the Trustee, amends the Standard Terms and Conditions of Trust of the BLDRS Index Funds Trust and Subsequent and Similar BLDRS Index Funds of the BLDRS Index Funds Trust dated and effective as of November 8, 2002, as previously amended on February 4, 2004, November 16, 2012, and August 2, 2017, pursuant to which were created the BLDRS Asia 50 ADR Index Fund, BLDRS Developed Markets 100 ADR Index Fund, BLDRS Emerging Markets 50 ADR Index Fund and BLDRS Europe 100 ADR Index Fund. Amendment No. 4 provides that paragraph (k) of Section 3.04, “Certain Deductions and Distributions,” is amended in its entirety to read as follows:

Distributions by each BLDRS Index Fund will be made quarterly in the event that dividends accumulated in respect of the BLDRS Index Fund Securities and other income, if any, received by the BLDRS Index Fund exceed BLDRS Index Fund fees and expenses accrued during the quarterly Accumulation Period. For the avoidance of doubt, amounts received in respect of Dividend Equivalent Payments in connection with Portfolio Deposits are excluded from the calculation of “dividends accumulated in respect of the BLDRS Index Fund Securities and other income,” as used in the preceding sentence and referenced hereafter in this paragraph. The regular quarterly ex-dividend date, if any, for BLDRS Index Fund Shares will be the first Business Day subsequent to the third Friday of each March, June, September and December (the “Ex-Dividend Date”). Beneficial Owners as reflected on the records of the Depository and the DTC Participants on the first (1st) Business Day following the Ex-Dividend Date (the “Record Date”) will be entitled to receive an amount, if any, representing dividends accumulated on the Securities through such Ex-Dividend Date, net of fees and expenses, accrued daily for such period. For the purposes of all dividend distributions, dividends per BLDRS Index Fund Share will be calculated at least to the nearest ¹⁄_100th of $0.01. However, there shall be no net dividend distribution in any given quarter, and any net dividend amounts will be rolled into the next Accumulation Period, if the aggregate net dividend distributions would be in an amount less than ⁵⁄_100ths of one percent (0.05%) of the net asset value of the BLDRS Index Fund as of the Friday in the week immediately preceding the Ex-Dividend Date, unless the Trustee determines that such net dividend distribution is required to be made in order to maintain the BLDRS Index Fund’s status as a Regulated Investment Company or to avoid the imposition of income or excise taxes on undistributed income. When net dividends payments are to be made by the BLDRS Index Fund, payments will be made on the last business day in the calendar month following each Ex-Dividend Date (the “Dividend Payment Date”). However, for the regular Ex-Dividend Date occurring on the first Business Day subsequent to the Third Friday of the month of December, the Dividend Payment Date shall instead be the last Business Day in December. Dividend payments will be made through the Depository and the DTC Participants to Beneficial Owners then of record with funds received from the Trustee. BLDRS Index Fund Shares will be registered in book entry form only, which records will be kept by the Depository. If the Trustee is required to advance funds for the payment of any distribution, the Trustee will reimburse itself for such advance plus interest, and shall have a lien against the assets of the BLDRS Index Fund to secure such reimbursement and interest, in accordance with Section 3.04(h).

Amendment No. 1 to the Trust Indenture and Agreement, dated April 26, 2018, and effective as of June 4, 2018 (the “Amendment”), between the Sponsor and the Trustee, amends the Trust Indenture and Agreement, dated November 8, 2002 (the “Indenture”). The Amendment provides that, effective September 19, 2011, the name of the BLDRS Europe 100 ADR Index Fund was changed to BLDRS Europe Select ADR Index Fund for all purposes of the Indenture and that the second recital in the Indenture shall be deleted in its entirety and replaced with the following:

“WHEREAS, the parties now desire to create four (4) different index funds (each, an “Invesco BLDRS Index Fund” or a “Fund”), each of which shall be a separate and distinct “Trust” or “Trust Fund” as such terms are defined in Section 1.01 of the Standard Terms and which shall be known as and designated as follows: “Invesco BLDRS Asia 50 ADR Index Fund,” “Invesco BLDRS Developed Markets 100 ADR Index Fund,” “Invesco BLDRS Emerging Markets 50 ADR Index Fund” and “Invesco BLDRS Europe Select ADR Index Fund;”.

The amendment further provides:

Any references to the “BLDRS Asia 50 ADR Index Fund,” “BLDRS Developed Markets 100 ADR Index Fund,” “BLDRS Emerging Markets 50 ADR Index Fund” and “BLDRS Europe 100 ADR Index Fund” in the Indenture and Agreement shall be deemed references to “Invesco BLDRS Asia 50 ADR Index Fund,” “Invesco BLDRS Developed Markets 100 ADR Index Fund,” “Invesco BLDRS Emerging Markets 50 ADR Index Fund” and “Invesco BLDRS Europe Select ADR Index Fund,” respectively. Any references to the “BLDRS Index Funds Trust” in the Indenture and Agreement shall be deemed a reference to “Invesco BLDRS Index Funds Trust.” Any references to the “BLDRS Index Fund” and “BLDRS Index Funds” in the Indenture and Agreement shall be deemed references to “Invesco BLDRS Index Fund” and “Invesco BLDRS Index Funds,” respectively.


		30

Tax Information

(Unaudited)

Form 1099-DIV, Form 1042-S and other year-end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.

The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state’s requirement.

Each Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended September 30, 2018:


	Qualified Dividend Income*			Dividends-Received Deduction*
Asia		100	%		0	%
Developed Markets		100	%		0	%
Emerging Markets		100	%		0	%
Europe		100	%		0	%

*	The above percentages are based on ordinary income dividends paid to shareholders during the Fund’s fiscal year.

Foreign Taxes Paid — The following Funds elect under the Internal Revenue Code Section 853 to pass through foreign taxes paid to its shareholders. The total amount of foreign taxes passed through to shareholders on a per share basis for the year ended September 30, 2018, are as follows:


	Foreign Taxes Per Share		Income Per Share
Asia	$	0.0852	$	0.9912
Developed Markets		0.0485		0.9670
Emerging Markets		0.0912		1.0310
Europe		0.0548		0.9543


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Invesco BLDRS Index Funds Trust

Sponsor

Invesco Capital Management, LLC

3500 Lacey Road, Suite 700

Downers Grove, IL 60515

Trustee

The Bank of New York Mellon

2 Hanson Place

Brooklyn, NY 11217

Distributor

Invesco Distributors, Inc.

11 Greenway Plaza, Suite 1000

Houston, TX 77046

Independent Registered Public Accounting Firm

PricewaterhouseCoopers LLP

1 N. Wacker Drive

Chicago, IL 60606

Legal Counsel

Stradley Ronon Stevens & Young, LLP

1250 Connecticut Avenue, N.W., Suite 500

Washington, D.C. 20036

P-BLDRS-AR-1