NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco Dynamic Biotechnology & Genome ETF (PBE)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.05%
Biotechnology-80.16%
Acceleron Pharma, Inc.(b)
  60,462   $5,996,017
Akebia Therapeutics, Inc.(b)
  520,143   5,809,997
Amgen, Inc.
  48,970   11,981,490
Biogen, Inc.(b)
  36,527   10,033,602
CareDx, Inc.(b)
  189,458   6,318,424
Coherus Biosciences, Inc.(b)(c)
  328,046   5,770,329
CRISPR Therapeutics AG (Switzerland)(b)
  96,081   8,211,082
Dicerna Pharmaceuticals, Inc.(b)
  286,179   6,152,849
Emergent BioSolutions, Inc.(b)
  73,030   8,123,857
Gilead Sciences, Inc.
  145,725   10,132,259
Halozyme Therapeutics, Inc.(b)
  255,193   6,938,698
ImmunoGen, Inc.(b)
  1,247,262   5,126,247
Ironwood Pharmaceuticals, Inc.(b)
  613,724   5,627,849
Myriad Genetics, Inc.(b)
  415,465   5,014,663
Neurocrine Biosciences, Inc.(b)
  91,297   10,988,507
OPKO Health, Inc.(b)(c)
  2,784,589   14,340,633
Regeneron Pharmaceuticals, Inc.(b)
  18,984   11,999,217
Sarepta Therapeutics, Inc.(b)
  71,737   11,013,064
United Therapeutics Corp.(b)
  52,062   5,803,351
Vanda Pharmaceuticals, Inc.(b)
  541,799   5,461,334
Vericel Corp.(b)
  420,721   6,937,689
Vertex Pharmaceuticals, Inc.(b)
  39,571   10,763,312
Xencor, Inc.(b)
  193,125   5,811,131
        184,355,601
Health Care Equipment-2.02%
Cardiovascular Systems, Inc.(b)
  152,374   4,644,360
Life Sciences Tools & Services-11.15%
Bio-Techne Corp.
  42,474   11,687,146
Compugen Ltd. (Israel)(b)(c)
  483,592   6,968,560
Repligen Corp.(b)
  46,334   6,992,264
        25,647,970
  Shares   Value
Pharmaceuticals-6.72%
Collegium Pharmaceutical, Inc.(b)(c)
  258,279   $4,075,643
MyoKardia, Inc.(b)
  59,781   5,388,061
Nektar Therapeutics(b)
  269,557   5,973,383
        15,437,087
Total Common Stocks & Other Equity Interests

(Cost $210,225,145)
  230,085,018
Money Market Funds-0.08%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $183,130)
  183,130   183,130
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.13%

(Cost $210,408,275)
  230,268,148
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-12.74%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  21,942,324   21,942,324
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  7,359,095   7,360,566
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $29,302,890)
  29,302,890
TOTAL INVESTMENTS IN SECURITIES-112.87%

(Cost $239,711,165)
  259,571,038
OTHER ASSETS LESS LIABILITIES-(12.87)%
  (29,591,847)
NET ASSETS-100.00%
  $229,979,191
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $2,626   $3,158,221   $(2,977,717)   $-   $-   $183,130   $55
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 6,405,928   34,728,127   (19,191,731)   -   -   21,942,324   1,183
Invesco Private Prime Fund -   10,903,065   (3,542,749)   -   250   7,360,566   788
Total $6,408,554   $48,789,413   $(25,712,197)   $-   $250   $29,486,020   $2,026
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Building & Construction ETF (PKB)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.00%
Building Products-16.35%
AAON, Inc.
  46,109   $2,731,958
Gibraltar Industries, Inc.(b)
  57,260   2,961,487
Johnson Controls International PLC
  145,356   5,593,299
Simpson Manufacturing Co., Inc.
  31,009   2,994,229
Trex Co., Inc.(b)
  20,870   2,907,817
        17,188,790
Construction & Engineering-14.70%
AECOM(b)
  64,632   2,339,032
Argan, Inc.
  68,500   2,938,650
Great Lakes Dredge & Dock Corp.(b)
  270,264   2,259,407
MasTec, Inc.(b)
  63,294   2,517,835
Quanta Services, Inc.
  68,287   2,729,432
Valmont Industries, Inc.
  22,049   2,672,339
        15,456,695
Construction Materials-13.12%
Eagle Materials, Inc.
  36,778   2,950,699
Forterra, Inc.(b)
  284,079   3,690,186
Martin Marietta Materials, Inc.
  23,207   4,808,026
Summit Materials, Inc., Class A(b)
  159,331   2,345,353
        13,794,264
Gas Utilities-2.18%
Southwest Gas Holdings, Inc.
  33,029   2,300,140
Home Improvement Retail-9.79%
Home Depot, Inc. (The)
  18,699   4,964,398
Lowe’s Cos., Inc.
  35,775   5,327,255
        10,291,653
  Shares   Value
Homebuilding-38.63%
Cavco Industries, Inc.(b)
  13,189   $2,642,152
Century Communities, Inc.(b)
  88,748   3,161,204
D.R. Horton, Inc.
  81,972   5,423,267
Installed Building Products, Inc.(b)
  37,847   2,994,076
KB Home
  73,962   2,488,082
Lennar Corp., Class A
  76,150   5,509,452
LGI Homes, Inc.(b)
  29,823   3,403,103
Meritage Homes Corp.(b)
  35,080   3,479,234
PulteGroup, Inc.
  133,191   5,807,128
TopBuild Corp.(b)
  21,350   2,816,492
TRI Pointe Group, Inc.(b)
  173,004   2,892,627
        40,616,817
Specialty Stores-5.23%
Tractor Supply Co.
  38,515   5,497,631
Total Common Stocks & Other Equity Interests

(Cost $96,670,846)
  105,145,990
Money Market Funds-0.16%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(c)(d)

(Cost $172,561)
  172,561   172,561
TOTAL INVESTMENTS IN SECURITIES-100.16%

(Cost $96,843,407)
  105,318,551
OTHER ASSETS LESS LIABILITIES-(0.16)%
  (173,413)
NET ASSETS-100.00%
  $105,145,138
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $136,080   $502,159   $(465,678)   $-   $-   $172,561   $34
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund -   4,821,920   (4,821,920)   -   -   -   16
Invesco Private Prime Fund -   1,107,606   (1,107,606)   -   -   -   9
Total $136,080   $6,431,685   $(6,395,204)   $-   $-   $172,561   $59
    
(d) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
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(a)
Invesco Dynamic Energy Exploration & Production ETF (PXE)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Integrated Oil & Gas-6.24%
Occidental Petroleum Corp.
  70,170   $1,104,476
Occidental Petroleum Corp., Wts., expiring August 3, 2027(b)
  8,771   49,117
        1,153,593
Oil & Gas Exploration & Production-72.40%
Antero Resources Corp.(b)(c)
  163,663   484,443
Cabot Oil & Gas Corp.
  27,025   505,368
Cimarex Energy Co.
  19,117   467,602
CNX Resources Corp.(b)
  52,364   505,313
Comstock Resources, Inc.(b)
  99,826   535,067
Concho Resources, Inc.
  17,424   915,457
ConocoPhillips
  22,252   832,002
Continental Resources, Inc.(c)
  39,553   683,871
Devon Energy Corp.
  44,773   469,669
Diamondback Energy, Inc.
  12,133   483,621
EOG Resources, Inc.
  18,533   868,271
EQT Corp.
  39,047   566,963
Kosmos Energy Ltd. (Ghana)
  288,440   464,388
Magnolia Oil & Gas Corp., Class A(b)
  88,335   528,243
Marathon Oil Corp.(b)
  91,593   502,846
Matador Resources Co.(b)(c)
  64,452   559,443
Murphy Oil Corp.(c)
  41,368   546,471
Ovintiv, Inc.(c)
  63,359   613,949
PDC Energy, Inc.(b)
  42,106   600,432
Pioneer Natural Resources Co.
  10,346   1,002,734
Southwestern Energy Co.(b)
  175,786   427,160
Talos Energy, Inc.(b)
  43,252   294,546
WPX Energy, Inc.(b)
  89,397   533,700
        13,391,559
Oil & Gas Refining & Marketing-21.32%
CVR Energy, Inc.
  24,730   474,816
HollyFrontier Corp.
  16,591   456,252
  Shares   Value
Oil & Gas Refining & Marketing-(continued)
Marathon Petroleum Corp.
  27,206   $1,039,269
PBF Energy, Inc., Class A
  47,851   415,347
Phillips 66
  12,186   755,776
Valero Energy Corp.
  14,255   801,559
        3,943,019
Total Common Stocks & Other Equity Interests

(Cost $25,685,486)
  18,488,171
Money Market Funds-0.62%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $113,594)
  113,594   113,594
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.58%

(Cost $25,799,080)
  18,601,765
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-11.23%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  1,557,675   1,557,675
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  519,121   519,225
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,076,900)
  2,076,900
TOTAL INVESTMENTS IN SECURITIES-111.81%

(Cost $27,875,980)
  20,678,665
OTHER ASSETS LESS LIABILITIES-(11.81)%
  (2,183,583)
NET ASSETS-100.00%
  $18,495,082
Investment Abbreviations:
Wts. -Warrants
    
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $106,816   $246,561   $(239,783)   $-   $-   $113,594   $25
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 3,284,808   8,826,807   (10,553,940)   -   -   1,557,675   187
Invesco Private Prime Fund -   1,993,698   (1,474,541)   -   68   519,225   99
Total $3,391,624   $11,067,066   $(12,268,264)   $-   $68   $2,190,494   $311
    
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Energy Exploration & Production ETF (PXE)—(continued)
July 31, 2020
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Food & Beverage ETF (PBJ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Agricultural Products-5.36%
Darling Ingredients, Inc.(b)
  75,796   $2,116,982
Fresh Del Monte Produce, Inc.
  71,851   1,622,396
        3,739,378
Distillers & Vintners-4.91%
Brown-Forman Corp., Class B
  49,331   3,420,611
Food Distributors-5.37%
SpartanNash Co.
  85,680   1,801,422
United Natural Foods, Inc.(b)
  97,785   1,941,032
        3,742,454
Food Retail-10.16%
Ingles Markets, Inc., Class A
  41,958   1,688,810
Kroger Co. (The)
  55,267   1,922,739
Sprouts Farmers Market, Inc.(b)
  71,561   1,887,779
Weis Markets, Inc.
  31,720   1,580,290
        7,079,618
Packaged Foods & Meats-44.11%
Campbell Soup Co.
  35,781   1,773,664
Conagra Brands, Inc.
  52,252   1,956,838
Freshpet, Inc.(b)
  23,484   2,255,638
General Mills, Inc.
  52,584   3,326,990
Hain Celestial Group, Inc. (The)(b)
  57,989   1,970,466
Hershey Co. (The)
  23,941   3,481,261
Hormel Foods Corp.
  37,006   1,882,125
JM Smucker Co. (The)
  15,897   1,738,337
John B. Sanfilippo & Son, Inc.
  20,580   1,814,539
Kellogg Co.
  27,084   1,868,525
Kraft Heinz Co. (The)
  107,106   3,682,304
Mondelez International, Inc., Class A
  63,320   3,513,627
TreeHouse Foods, Inc.(b)
  33,898   1,485,410
        30,749,724
Personal Products-2.99%
Herbalife Nutrition Ltd.(b)(c)
  40,702   2,085,570
Restaurants-17.57%
Chipotle Mexican Grill, Inc.(b)
  3,271   3,778,528
  Shares   Value
Restaurants-(continued)
Domino’s Pizza, Inc.
  4,861   $1,879,311
Papa John’s International, Inc.
  23,399   2,215,183
Wingstop, Inc.
  14,882   2,325,313
Yum China Holdings, Inc. (China)
  40,027   2,050,984
        12,249,319
Soft Drinks-9.54%
Coca-Cola Co. (The)
  69,132   3,265,796
PepsiCo, Inc.
  24,609   3,387,675
        6,653,471
Total Common Stocks & Other Equity Interests

(Cost $62,804,170)
  69,720,145
Money Market Funds-0.13%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $90,867)
  90,867   90,867
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.14%

(Cost $62,895,037)
  69,811,012
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.28%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  148,315   148,315
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  48,188   48,197
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $196,512)
  196,512
TOTAL INVESTMENTS IN SECURITIES-100.42%

(Cost $63,091,549)
  70,007,524
OTHER ASSETS LESS LIABILITIES-(0.42)%
  (294,396)
NET ASSETS-100.00%
  $69,713,128
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $99,354   $513,047   $(521,534)   $-   $-   $90,867   $31
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 304,437   1,606,519   (1,762,641)   -   -   148,315   10
Invesco Private Prime Fund -   518,844   (470,647)   -   -   48,197   4
Total $403,791   $2,638,410   $(2,754,822)   $-   $-   $287,379   $45
    
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Food & Beverage ETF (PBJ)—(continued)
July 31, 2020
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Leisure and Entertainment ETF (PEJ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.10%
Broadcasting-17.58%
AMC Networks, Inc., Class A(b)
  227,018   $5,244,116
Discovery, Inc., Class A(b)(c)
  542,118   11,438,690
Fox Corp., Class A
  411,604   10,607,035
ViacomCBS, Inc., Class B
  561,682   14,643,049
        41,932,890
Cable & Satellite-2.09%
MSG Networks, Inc., Class A(b)
  522,119   4,975,794
Food Distributors-5.76%
Performance Food Group Co.(b)
  247,525   6,935,651
US Foods Holding Corp.(b)
  334,800   6,796,440
        13,732,091
Hotels, Resorts & Cruise Lines-7.11%
Hilton Worldwide Holdings, Inc.
  147,702   11,085,035
Marriott Vacations Worldwide Corp.
  69,350   5,871,171
        16,956,206
Interactive Media & Services-5.28%
Eventbrite, Inc., Class A(b)(c)
  750,024   6,390,205
TripAdvisor, Inc.
  307,248   6,215,627
        12,605,832
Leisure Facilities-1.97%
Cedar Fair L.P.
  197,118   4,699,293
Movies & Entertainment-24.54%
AMC Entertainment Holdings, Inc., Class A
  1,281,101   5,175,648
Cinemark Holdings, Inc.
  424,522   5,022,095
Lions Gate Entertainment Corp., Class A(b)
  813,930   6,234,704
Live Nation Entertainment, Inc.(b)
  132,525   6,203,495
Madison Square Garden Entertainment Corp.(b)
  82,161   5,821,928
Madison Square Garden Sports Corp., Class A(b)
  38,872   5,974,238
Manchester United PLC, Class A (United Kingdom)
  391,047   5,470,748
Walt Disney Co. (The)
  101,999   11,927,763
World Wrestling Entertainment, Inc., Class A(c)
  144,242   6,723,120
        58,553,739
Multi-Sector Holdings-2.84%
Cannae Holdings, Inc.(b)
  179,765   6,773,545
  Shares   Value
Restaurants-32.93%
Chipotle Mexican Grill, Inc.(b)
  11,972   $13,829,576
Domino’s Pizza, Inc.
  32,571   12,592,274
Dunkin’ Brands Group, Inc.
  99,039   6,806,951
Jack in the Box, Inc.
  95,957   7,879,029
Papa John’s International, Inc.
  85,545   8,098,545
Wendy’s Co. (The)
  305,946   7,091,828
Wingstop, Inc.
  54,548   8,523,125
Yum China Holdings, Inc. (China)
  268,313   13,748,358
        78,569,686
Total Common Stocks & Other Equity Interests

(Cost $243,100,737)
  238,799,076
Money Market Funds-0.01%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $23,620)
  23,620   23,620
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.11%

(Cost $243,124,357)
  238,822,696
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.60%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  8,227,488   8,227,488
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  2,741,947   2,742,496
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $10,969,984)
  10,969,984
TOTAL INVESTMENTS IN SECURITIES-104.71%

(Cost $254,094,341)
  249,792,680
OTHER ASSETS LESS LIABILITIES-(4.71)%
  (11,234,203)
NET ASSETS-100.00%
  $238,558,477
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $121,538   $720,921   $(818,839)   $-   $-   $23,620   $28
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Leisure and Entertainment ETF (PEJ)—(continued)
July 31, 2020
(Unaudited)
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $5,113,813   $47,652,229   $(44,538,554)   $-   $-   $8,227,488   $666
Invesco Private Prime Fund -   9,972,860   (7,230,559)   -   195   2,742,496   372
Total $5,235,351   $58,346,010   $(52,587,952)   $-   $195   $10,993,604   $1,066
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Media ETF (PBS)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.05%
Advertising-8.26%
Cardlytics, Inc.(b)
  13,202   $876,877
Interpublic Group of Cos., Inc. (The)
  47,373   855,083
TechTarget, Inc.(b)
  30,363   1,101,873
        2,833,833
Broadcasting-12.43%
Discovery, Inc., Class A(b)(c)
  37,614   793,655
Fox Corp., Class A
  28,558   735,940
Gray Television, Inc.(b)
  58,100   833,154
Nexstar Media Group, Inc., Class A
  10,063   882,022
ViacomCBS, Inc., Class B
  38,971   1,015,974
        4,260,745
Cable & Satellite-6.42%
MSG Networks, Inc., Class A(b)(c)
  66,414   632,925
Sirius XM Holdings, Inc.
  266,668   1,568,008
        2,200,933
Interactive Media & Services-36.33%
Alphabet, Inc., Class A(b)
  1,068   1,589,131
ANGI Homeservices, Inc., Class A(b)(c)
  78,684   1,242,420
EverQuote, Inc., Class A(b)
  15,797   860,147
Facebook, Inc., Class A(b)
  6,718   1,704,155
IAC/InterActiveCorp.(b)
  3,047   403,484
Match Group, Inc.(b)
  24,057   2,470,654
SINA Corp. (China)(b)
  26,798   1,081,299
Yandex N.V., Class A (Russia)(b)
  20,329   1,169,731
Yelp, Inc.(b)
  38,021   949,764
Zillow Group, Inc., Class C(b)
  14,401   984,884
        12,455,669
Internet & Direct Marketing Retail-3.71%
Fiverr International Ltd. (Israel)(b)
  13,602   1,270,835
Movies & Entertainment-18.39%
Lions Gate Entertainment Corp., Class A(b)(c)
  103,532   793,055
Netflix, Inc.(b)
  3,664   1,791,256
Spotify Technology S.A.(b)
  8,547   2,203,588
Walt Disney Co. (The)
  12,974   1,517,180
        6,305,079
  Shares   Value
Publishing-9.35%
John Wiley & Sons, Inc., Class A
  20,269   $685,700
New York Times Co. (The), Class A
  21,393   987,073
News Corp., Class A
  69,574   884,982
Scholastic Corp.
  27,097   648,431
        3,206,186
Research & Consulting Services-5.16%
IHS Markit Ltd.
  21,917   1,769,359
Total Common Stocks & Other Equity Interests

(Cost $29,430,366)
  34,302,639
Money Market Funds-0.30%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $104,649)
  104,649   104,649
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.35%

(Cost $29,535,015)
  34,407,288
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-6.22%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  1,577,426   1,577,426
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  554,764   554,875
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,132,301)
  2,132,301
TOTAL INVESTMENTS IN SECURITIES-106.57%

(Cost $31,667,316)
  36,539,589
OTHER ASSETS LESS LIABILITIES-(6.57)%
  (2,253,812)
NET ASSETS-100.00%
  $34,285,777
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $105,640   $322,286   $(323,277)   $-   $-   $104,649   $26
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 4,547,956   8,430,452   (11,400,982)   -   -   1,577,426   258
Invesco Private Prime Fund -   2,021,389   (1,466,626)   -   112   554,875   138
Total $4,653,596   $10,774,127   $(13,190,885)   $-   $112   $2,236,950   $422
    
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Media ETF (PBS)—(continued)
July 31, 2020
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Networking ETF (PXQ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Application Software-8.22%
Citrix Systems, Inc.
  9,621   $1,373,494
Datadog, Inc., Class A(b)
  20,230   1,898,788
Dynatrace, Inc.(b)
  36,170   1,512,991
        4,785,273
Communications Equipment-39.73%
Arista Networks, Inc.(b)
  6,092   1,582,519
AudioCodes Ltd. (Israel)
  39,331   1,419,456
Calix, Inc.(b)
  95,768   1,964,202
Ciena Corp.(b)
  24,908   1,482,275
Cisco Systems, Inc.
  54,638   2,573,450
Inseego Corp.(b)(c)
  134,632   1,814,839
InterDigital, Inc.
  24,313   1,459,266
Lumentum Holdings, Inc.(b)
  18,878   1,752,445
Motorola Solutions, Inc.
  18,335   2,563,233
NETGEAR, Inc.(b)
  54,182   1,666,096
NetScout Systems, Inc.(b)
  50,330   1,281,402
Plantronics, Inc.(c)
  108,392   2,166,756
Ubiquiti, Inc.
  7,578   1,404,203
        23,130,142
Consumer Electronics-2.54%
Garmin Ltd.
  15,011   1,479,935
Electronic Components-4.75%
Amphenol Corp., Class A
  26,127   2,763,192
Internet Services & Infrastructure-7.69%
Akamai Technologies, Inc.(b)
  13,200   1,484,208
Okta, Inc.(b)
  13,545   2,993,174
        4,477,382
Semiconductors-11.13%
Inphi Corp.(b)
  11,150   1,456,859
Marvell Technology Group Ltd.
  45,330   1,653,185
QUALCOMM, Inc.
  31,894   3,368,325
        6,478,369
Systems Software-20.19%
Check Point Software Technologies Ltd. (Israel)(b)
  12,652   1,585,928
  Shares   Value
Systems Software-(continued)
Crowdstrike Holdings, Inc., Class A(b)
  17,089   $1,934,475
Fortinet, Inc.(b)
  18,499   2,558,412
Palo Alto Networks, Inc.(b)
  10,861   2,779,547
Proofpoint, Inc.(b)
  12,016   1,389,891
Qualys, Inc.(b)
  12,222   1,509,172
        11,757,425
Technology Hardware, Storage & Peripherals-5.71%
Apple, Inc.
  7,828   3,327,213
Total Common Stocks & Other Equity Interests

(Cost $43,910,800)
  58,198,931
Money Market Funds-0.24%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $141,620)
  141,620   141,620
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.20%

(Cost $44,052,420)
  58,340,551
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-3.73%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  1,628,340   1,628,340
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  542,671   542,780
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,171,120)
  2,171,120
TOTAL INVESTMENTS IN SECURITIES-103.93%

(Cost $46,223,540)
  60,511,671
OTHER ASSETS LESS LIABILITIES-(3.93)%
  (2,287,482)
NET ASSETS-100.00%
  $58,224,189
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $146,102   $(4,482)   $-   $-   $141,620   $4
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 1,998,897   11,945,584   (12,316,141)   -   -   1,628,340   212
Invesco Private Prime Fund -   2,487,849   (1,945,136)   -   67   542,780   127
Total $1,998,897   $14,579,535   $(14,265,759)   $-   $67   $2,312,740   $343
    
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Networking ETF (PXQ)—(continued)
July 31, 2020
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Oil & Gas Services ETF (PXJ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.16%
Oil & Gas Drilling-13.27%
Helmerich & Payne, Inc.
  18,413   $328,304
Patterson-UTI Energy, Inc.
  61,384   237,863
Transocean Ltd.(b)(c)
  193,175   394,077
        960,244
Oil & Gas Equipment & Services-64.92%
Archrock, Inc.
  42,102   280,399
Baker Hughes Co., Class A
  26,270   406,922
Cactus, Inc., Class A
  13,072   295,689
ChampionX Corp.(b)
  29,487   280,422
Core Laboratories N.V.
  13,155   280,596
Dril-Quip, Inc.(b)
  8,663   288,391
Halliburton Co.
  35,555   509,503
National Oilwell Varco, Inc.
  33,300   383,283
NexTier Oilfield Solutions, Inc.(b)
  89,061   224,434
Oceaneering International, Inc.(b)
  41,768   234,736
RPC, Inc.(b)
  79,611   236,445
Schlumberger Ltd.
  22,915   415,678
TechnipFMC PLC (United Kingdom)
  56,063   450,186
USA Compression Partners L.P.
  35,791   413,028
        4,699,712
Oil & Gas Storage & Transportation-20.97%
DHT Holdings, Inc.
  43,786   248,704
Frontline Ltd. (Norway)(c)
  47,366   378,928
International Seaways, Inc.
  12,025   207,672
Nordic American Tankers Ltd.(c)
  58,124   264,464
Scorpio Tankers, Inc. (Monaco)
  14,516   191,902
Teekay Tankers Ltd., Class A (Bermuda)(b)
  15,100   226,047
        1,517,717
Total Common Stocks & Other Equity Interests

(Cost $12,925,507)
  7,177,673
  Shares   Value
Money Market Funds-1.57%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $113,574)
  113,574   $113,574
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.73%

(Cost $13,039,081)
  7,291,247
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-13.94%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  756,961   756,961
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  252,270   252,320
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,009,281)
  1,009,281
TOTAL INVESTMENTS IN SECURITIES-114.67%

(Cost $14,048,362)
  8,300,528
OTHER ASSETS LESS LIABILITIES-(14.67)%
  (1,061,822)
NET ASSETS-100.00%
  $7,238,706
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $116,865   $219,993   $(223,284)   $-   $-   $113,574   $26
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 693,740   2,621,139   (2,557,918)   -   -   756,961   80
Invesco Private Prime Fund -   617,800   (365,506)   -   26   252,320   41
Total $810,605   $3,458,932   $(3,146,708)   $-   $26   $1,122,855   $147
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Pharmaceuticals ETF (PJP)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.93%
Biotechnology-40.41%
AbbVie, Inc.
  184,686   $17,528,548
Alexion Pharmaceuticals, Inc.(b)
  79,266   8,123,972
Amgen, Inc.
  74,188   18,151,578
Biogen, Inc.(b)
  30,183   8,290,968
Eagle Pharmaceuticals, Inc.(b)
  174,680   8,103,405
Emergent BioSolutions, Inc.(b)
  110,629   12,306,370
Gilead Sciences, Inc.
  220,754   15,349,026
Ligand Pharmaceuticals, Inc.(b)(c)
  89,985   10,544,442
Regeneron Pharmaceuticals, Inc.(b)
  15,685   9,914,018
Retrophin, Inc.(b)
  565,427   11,240,689
United Therapeutics Corp.(b)
  78,867   8,791,305
Vanda Pharmaceuticals, Inc.(b)
  820,765   8,273,311
        136,617,632
Health Care Equipment-5.37%
Abbott Laboratories
  180,536   18,169,143
Pharmaceuticals-54.15%
Amphastar Pharmaceuticals, Inc.(b)
  487,085   9,751,442
Bausch Health Cos., Inc.(b)(c)
  488,127   8,918,080
Corcept Therapeutics, Inc.(b)
  595,110   8,896,894
Eli Lilly and Co.
  110,372   16,587,808
Endo International PLC(b)
  2,319,558   8,072,062
Horizon Therapeutics PLC(b)
  186,040   11,383,788
Innoviva, Inc.(b)
  631,577   8,554,710
Jazz Pharmaceuticals PLC(b)
  76,350   8,264,888
Johnson & Johnson
  113,134   16,490,412
Merck & Co., Inc.
  210,365   16,879,688
Mylan N.V.(b)
  525,768   8,470,122
Pacira BioSciences, Inc.(b)
  203,764   10,720,024
Perrigo Co. PLC
  164,807   8,738,067
Pfizer, Inc.
  435,499   16,758,002
Prestige Consumer Healthcare, Inc.(b)
  209,991   7,809,565
  Shares   Value
Pharmaceuticals-(continued)
Supernus Pharmaceuticals, Inc.(b)
  370,185   $8,242,169
Taro Pharmaceutical Industries Ltd.(b)
  131,306   8,536,203
        183,073,924
Total Common Stocks & Other Equity Interests

(Cost $297,680,278)
  337,860,699
Money Market Funds-0.05%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $164,513)
  164,513   164,513
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.98%

(Cost $297,844,791)
  338,025,212
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-3.04%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  7,701,201   7,701,201
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  2,566,554   2,567,067
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $10,268,268)
  10,268,268
TOTAL INVESTMENTS IN SECURITIES-103.02%

(Cost $308,113,059)
  348,293,480
OTHER ASSETS LESS LIABILITIES-(3.02)%
  (10,217,791)
NET ASSETS-100.00%
  $338,075,689
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $1,495,797   $(1,331,284)   $-   $-   $164,513   $40
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 8,293,767   14,246,605   (14,839,171)   -   -   7,701,201   843
Invesco Private Prime Fund -   5,505,811   (2,939,006)   -   262   2,567,067   473
Total $8,293,767   $21,248,213   $(19,109,461)   $-   $262   $10,432,781   $1,356
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Semiconductors ETF (PSI)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.02%
Semiconductor Equipment-42.04%
ACM Research, Inc., Class A(b)
  112,408   $10,784,424
Amkor Technology, Inc.(b)
  633,913   8,618,047
Applied Materials, Inc.
  221,082   14,222,205
Axcelis Technologies, Inc.(b)
  257,526   7,576,415
Entegris, Inc.
  112,485   8,088,796
FormFactor, Inc.(b)
  266,694   7,691,455
KLA Corp.
  37,758   7,545,181
Lam Research Corp.
  24,709   9,319,247
MKS Instruments, Inc.
  63,857   8,137,936
Nova Measuring Instruments Ltd. (Israel)(b)(c)
  142,206   7,309,388
Photronics, Inc.(b)
  576,283   6,846,242
Teradyne, Inc.
  102,118   9,084,417
Ultra Clean Holdings, Inc.(b)
  322,854   9,714,677
Veeco Instruments, Inc.(b)
  579,832   7,839,329
        122,777,759
Semiconductors-57.98%
Advanced Micro Devices, Inc.(b)
  233,604   18,087,958
Broadcom, Inc.
  42,687   13,521,107
Cirrus Logic, Inc.(b)
  91,962   6,302,156
Inphi Corp.(b)
  53,862   7,037,609
Intel Corp.
  195,892   9,349,925
Lattice Semiconductor Corp.(b)
  269,090   8,366,008
MACOM Technology Solutions Holdings, Inc.(b)
  214,535   9,066,249
Micron Technology, Inc.(b)
  260,095   13,019,055
Monolithic Power Systems, Inc.
  32,137   8,516,627
NVIDIA Corp.
  35,604   15,117,102
Power Integrations, Inc.
  60,538   7,387,452
QUALCOMM, Inc.
  154,738   16,341,880
Semtech Corp.(b)
  128,163   7,142,524
Skyworks Solutions, Inc.
  57,095   8,311,890
  Shares   Value
Semiconductors-(continued)
Synaptics, Inc.(b)
  105,788   $8,465,156
Texas Instruments, Inc.
  104,311   13,304,868
        169,337,566
Total Common Stocks & Other Equity Interests

(Cost $209,508,849)
  292,115,325
Money Market Funds-0.05%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $141,804)
  141,804   141,804
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.07%

(Cost $209,650,653)
  292,257,129
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.01%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  23,423   23,423
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  7,806   7,808
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $31,231)
  31,231
TOTAL INVESTMENTS IN SECURITIES-100.08%

(Cost $209,681,884)
  292,288,360
OTHER ASSETS LESS LIABILITIES-(0.08)%
  (240,480)
NET ASSETS-100.00%
  $292,047,880
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2020.
(d) 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 July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $396,362   $621,295   $(875,853)   $-   $-   $141,804   $40
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 567,334   1,344,156   (1,888,067)   -   -   23,423   9
Invesco Private Prime Fund -   490,075   (482,267)   -   -   7,808   7
Total $963,696   $2,455,526   $(3,246,187)   $-   $-   $173,035   $56
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(f) 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(a)
Invesco Dynamic Software ETF (PSJ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.00%
Aerospace & Defense-2.06%
Parsons Corp.(b)
  301,997   $10,518,555
Alternative Carriers-3.29%
Bandwidth, Inc., Class A(b)
  116,033   16,799,258
Application Software-41.27%
Adobe, Inc.(b)
  58,641   26,055,369
American Software, Inc., Class A
  661,369   10,892,748
Avaya Holdings Corp.(b)
  853,185   10,801,322
Blackline, Inc.(b)
  168,274   14,961,241
Citrix Systems, Inc.
  157,757   22,521,389
Cloudera, Inc.(b)
  1,239,730   13,971,757
DocuSign, Inc.(b)
  174,286   37,790,433
Five9, Inc.(b)
  120,410   14,547,936
Model N, Inc.(b)
  391,662   15,063,321
Nuance Communications, Inc.(b)
  536,396   14,670,431
Sapiens International Corp. N.V. (Israel)
  525,946   16,072,910
SPS Commerce, Inc.(b)
  181,741   13,661,471
        211,010,328
Cable & Satellite-4.49%
Liberty Broadband Corp., Class C(b)
  167,422   22,982,018
Communications Equipment-2.24%
NetScout Systems, Inc.(b)
  450,143   11,460,641
Data Processing & Outsourced Services-4.75%
Black Knight, Inc.(b)
  161,432   12,094,486
Jack Henry & Associates, Inc.
  68,308   12,179,316
        24,273,802
Health Care Technology-2.88%
Inovalon Holdings, Inc., Class A(b)
  626,578   14,743,380
Interactive Home Entertainment-15.41%
Activision Blizzard, Inc.
  317,217   26,211,641
  Shares   Value
Interactive Home Entertainment-(continued)
Electronic Arts, Inc.(b)
  183,550   $25,994,351
Glu Mobile, Inc.(b)
  1,399,702   13,213,187
Sciplay Corp., Class A(b)
  915,550   13,385,341
        78,804,520
Interactive Media & Services-5.35%
Snap, Inc., Class A(b)
  1,220,484   27,363,251
Internet Services & Infrastructure-2.60%
Akamai Technologies, Inc.(b)
  118,058   13,274,441
Movies & Entertainment-3.37%
Roku, Inc.(b)
  111,257   17,232,597
Semiconductors-2.31%
Rambus, Inc.(b)
  799,826   11,805,432
Systems Software-9.98%
Microsoft Corp.
  122,789   25,172,973
NortonLifeLock, Inc.
  580,198   12,445,247
Qualys, Inc.(b)
  108,807   13,435,489
        51,053,709
Total Common Stocks & Other Equity Interests

(Cost $422,428,690)
  511,321,932
Money Market Funds-0.09%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(c)(d)

(Cost $450,827)
  450,827   450,827
TOTAL INVESTMENTS IN SECURITIES-100.09%

(Cost $422,879,517)
  511,772,759
OTHER ASSETS LESS LIABILITIES-(0.09)%
  (439,089)
NET ASSETS-100.00%
  $511,333,670
Notes to Schedule of Investments:
(a) 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.
(b) Non-income producing security.
(c) Affiliated issuer. The issuer is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or the Investment Company Act of 1940, as amended (the “1940 Act”), defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. The Fund has not owned enough of the outstanding voting securities of the issuer to have control (as defined in the 1940 Act) of that issuer. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2020.
    
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $144,610   $808,994   $(502,777)   $-   $-   $450,827   $93
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 3,593,790   26,857,553   (30,451,343)   -   -   -   517
Invesco Private Prime Fund -   6,032,146   (6,032,420)   -   274   -   299
Investments in Other Affiliates:                          
Sciplay Corp., Class A** 12,666,267   6,105,260   (10,254,322)   4,261,395   606,741   13,385,341   -
Total $16,404,667   $39,803,953   $(47,240,862)   $4,261,395   $607,015   $13,836,168   $909
    
** As of July 31, 2020, this security was not considered as an affiliate of the Fund.
    
(d) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Software ETF (PSJ)—(continued)
July 31, 2020
(Unaudited)
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
July 31, 2020
(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 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.
Except for the Funds listed below, as of July 31, 2020, 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.
  Level 1   Level 2   Level 3   Total
Invesco Dynamic Biotechnology & Genome ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $230,085,018   $-   $-   $230,085,018
Money Market Funds 183,130   29,302,890   -   29,486,020
Total Investments $230,268,148   $29,302,890   $-   $259,571,038
Invesco Dynamic Energy Exploration & Production ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $18,488,171   $-   $-   $18,488,171
Money Market Funds 113,594   2,076,900   -   2,190,494
Total Investments $18,601,765   $2,076,900   $-   $20,678,665
Invesco Dynamic Food & Beverage ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $69,720,145   $-   $-   $69,720,145
Money Market Funds 90,867   196,512   -   287,379
Total Investments $69,811,012   $196,512   $-   $70,007,524
Invesco Dynamic Leisure and Entertainment ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $238,799,076   $-   $-   $238,799,076
Money Market Funds 23,620   10,969,984   -   10,993,604
Total Investments $238,822,696   $10,969,984   $-   $249,792,680
Invesco Dynamic Media ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $34,302,639   $-   $-   $34,302,639
Money Market Funds 104,649   2,132,301   -   2,236,950
Total Investments $34,407,288   $2,132,301   $-   $36,539,589
  Level 1   Level 2   Level 3   Total
Invesco Dynamic Networking ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $58,198,931   $-   $-   $58,198,931
Money Market Funds 141,620   2,171,120   -   2,312,740
Total Investments $58,340,551   $2,171,120   $-   $60,511,671
Invesco Dynamic Oil & Gas Services ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $7,177,673   $-   $-   $7,177,673
Money Market Funds 113,574   1,009,281   -   1,122,855
Total Investments $7,291,247   $1,009,281   $-   $8,300,528
Invesco Dynamic Pharmaceuticals ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $337,860,699   $-   $-   $337,860,699
Money Market Funds 164,513   10,268,268   -   10,432,781
Total Investments $338,025,212   $10,268,268   $-   $348,293,480
Invesco Dynamic Semiconductors ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $292,115,325   $-   $-   $292,115,325
Money Market Funds 141,804   31,231   -   173,035
Total Investments $292,257,129   $31,231   $-   $292,288,360
NOTE 2—Coronavirus (COVID-19) Pandemic
During the first quarter of 2020, the World Health Organization declared COVID-19 to be a public health emergency. COVID-19 has led to increased short-term market volatility and may have adverse long-term effects on U.S. and world economies and markets in general. COVID-19 may adversely impact the value of the Funds’ investments. Because of the uncertainties on valuation, the global economy and business operations, values reflected in the Schedules of Investments may materially differ from the value received upon actual sales of those investments.
The extent of the impact on the performance of the Funds and their investments will depend on future developments, including the duration and spread of the COVID-19 outbreak, related restrictions and advisories, and the effects on the financial markets and economy overall, all of which are highly uncertain and cannot be predicted.