NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco Dynamic Market ETF (PWC)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Communication Services-11.21%
Activision Blizzard, Inc.
  63,470   $5,244,526
ATN International, Inc.
  21,352   1,230,516
Charter Communications, Inc., Class A(b)
  8,337   4,835,460
Cogent Communications Holdings, Inc.
  16,402   1,477,984
Sciplay Corp., Class A(b)
  95,721   1,399,441
        14,187,927
Consumer Discretionary-12.64%
Chegg, Inc.(b)
  6,682   541,042
eBay, Inc.
  53,441   2,954,219
Etsy, Inc.(b)
  5,193   614,747
Fiverr International Ltd. (Israel)(b)
  6,652   621,496
Hilton Worldwide Holdings, Inc.
  29,323   2,200,691
Lowe’s Cos., Inc.
  18,446   2,746,794
Murphy USA, Inc.(b)
  3,545   469,393
O’Reilly Automotive, Inc.(b)
  5,720   2,730,614
PetMed Express, Inc.(c)
  11,351   354,151
Purple Innovation, Inc.(b)
  28,631   697,738
Rent-A-Center, Inc.
  15,763   455,866
Stamps.com, Inc.(b)
  2,047   532,793
Sturm Ruger & Co., Inc.
  6,647   540,866
Wingstop, Inc.
  3,393   530,156
        15,990,566
Consumer Staples-7.16%
Hain Celestial Group, Inc. (The)(b)
  13,779   468,211
Ingles Markets, Inc., Class A
  9,969   401,252
Kraft Heinz Co. (The)
  97,251   3,343,489
Kroger Co. (The)
  13,132   456,862
Rite Aid Corp.(b)(c)
  32,687   495,535
SpartanNash Co.
  20,359   428,048
Walmart, Inc.
  23,899   3,092,531
Weis Markets, Inc.
  7,537   375,493
        9,061,421
Energy-3.02%
Baker Hughes Co., Class A
  16,964   262,772
ChampionX Corp.(b)
  31,205   296,759
Marathon Petroleum Corp.
  36,883   1,408,931
Ovintiv, Inc.(c)
  33,743   326,970
Renewable Energy Group, Inc.(b)(c)
  9,917   273,511
Schlumberger Ltd.
  69,054   1,252,640
        3,821,583
Financials-11.20%
American Equity Investment Life Holding Co.
  14,834   377,525
American National Group, Inc.
  4,275   314,854
Ameriprise Financial, Inc.
  10,687   1,641,844
Cannae Holdings, Inc.(b)
  9,069   341,720
E*TRADE Financial Corp.
  33,620   1,706,887
Green Dot Corp., Class A(b)
  9,156   464,118
MetLife, Inc.
  42,104   1,593,636
Mr. Cooper Group, Inc.(b)
  28,999   473,554
MSCI, Inc.
  4,757   1,788,537
Palomar Holdings, Inc.(b)
  4,383   400,343
PJT Partners, Inc., Class A
  5,979   320,056
Principal Financial Group, Inc.
  37,623   1,596,344
Reinsurance Group of America, Inc.
  3,527   300,677
StoneX Group, Inc.(b)
  6,338   332,618
TD Ameritrade Holding Corp.
  40,748   1,462,446
Unum Group
  20,583   354,645
  Shares   Value
Financials-(continued)
Virtu Financial, Inc., Class A
  14,155   $351,044
Waddell & Reed Financial, Inc., Class A
  24,509   357,586
        14,178,434
Health Care-13.72%
Addus HomeCare Corp.(b)
  4,830   465,660
Amedisys, Inc.(b)
  2,450   573,692
Biogen, Inc.(b)
  10,021   2,752,668
China Biologic Products Holdings, Inc. (China)(b)
  4,249   451,881
DaVita, Inc.(b)
  37,891   3,311,294
Dicerna Pharmaceuticals, Inc.(b)
  22,365   480,848
Eli Lilly and Co.
  19,986   3,003,696
Envista Holdings Corp.(b)
  22,344   488,663
ICON PLC (Ireland)(b)
  2,825   523,925
Medpace Holdings, Inc.(b)
  4,965   592,573
Prestige Consumer Healthcare, Inc.(b)
  10,834   402,916
REVOLUTION Medicines, Inc.(b)
  15,473   373,209
Tenet Healthcare Corp.(b)
  20,202   534,141
United Therapeutics Corp.(b)
  4,068   453,460
Vertex Pharmaceuticals, Inc.(b)
  10,854   2,952,288
        17,360,914
Industrials-9.05%
ADT, Inc.(c)
  55,957   481,790
AECOM(b)
  10,083   364,904
Arcosa, Inc.
  10,189   430,179
Astec Industries, Inc.
  9,089   404,370
Atlas Air Worldwide Holdings, Inc.(b)
  10,026   522,154
FTI Consulting, Inc.(b)
  3,194   381,491
Generac Holdings, Inc.(b)
  3,305   520,802
Lockheed Martin Corp.
  6,110   2,315,507
Masco Corp.
  51,984   2,971,405
Old Dominion Freight Line, Inc.
  14,680   2,683,798
Werner Enterprises, Inc.
  8,549   376,028
        11,452,428
Information Technology-26.57%
Apple, Inc.
  13,269   5,639,856
AudioCodes Ltd. (Israel)
  23,765   857,679
Axcelis Technologies, Inc.(b)
  32,056   943,087
Citrix Systems, Inc.
  29,913   4,270,380
FormFactor, Inc.(b)
  33,196   957,373
Fortinet, Inc.(b)
  31,360   4,337,088
Inphi Corp.(b)
  6,706   876,206
Jack Henry & Associates, Inc.
  4,614   822,676
Lumentum Holdings, Inc.(b)
  11,352   1,053,806
MACOM Technology Solutions Holdings, Inc.(b)
  26,703   1,128,469
Microsoft Corp.
  23,283   4,773,248
NortonLifeLock, Inc.
  39,188   840,583
NVIDIA Corp.
  12,441   5,282,324
Synaptics, Inc.(b)
  13,167   1,053,623
Tyler Technologies, Inc.(b)
  2,216   791,666
        33,628,064
Materials-2.84%
Arconic Corp.(b)
  22,633   368,691
Newmont Corp.
  37,163   2,571,680
Warrior Met Coal, Inc.
  21,461   341,659
Westlake Chemical Partners L.P.
  16,159   308,960
        3,590,990
Utilities-2.60%
Duke Energy Corp.
  28,274   2,395,939
See accompanying notes which are an integral part of this schedule.
Invesco Dynamic Market ETF (PWC)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
NRG Energy, Inc.
  14,228   $481,048
PG&E Corp.(b)
  44,388   415,028
        3,292,015
Total Common Stocks & Other Equity Interests

(Cost $117,240,542)
  126,564,342
Money Market Funds-0.12%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $145,294)
  145,294   145,294
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $117,385,836)
  126,709,636
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.20%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  1,140,613   $1,140,613
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  380,128   380,204
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,520,817)
  1,520,817
TOTAL INVESTMENTS IN SECURITIES-101.33%

(Cost $118,906,653)
  128,230,453
OTHER ASSETS LESS LIABILITIES-(1.33)%
  (1,684,746)
NET ASSETS-100.00%
  $126,545,707
 
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 $135,343   $1,086,858   $(1,076,907)   $-   $-   $145,294   $29
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 608,433   7,902,133   (7,369,953)   -   -   1,140,613   125
Invesco Private Prime Fund -   1,846,160   (1,465,994)   -   38   380,204   76
Total $743,776   $10,835,151   $(9,912,854)   $-   $38   $1,666,111   $230
    
(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 FTSE RAFI US 1000 ETF (PRF)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Communication Services-9.05%
Activision Blizzard, Inc.
  55,991   $4,626,536
Alphabet, Inc., Class A(b)
  17,868   26,586,691
Alphabet, Inc., Class C(b)
  17,891   26,531,637
Altice USA, Inc., Class A(b)
  83,505   2,253,800
AMC Entertainment Holdings, Inc., Class A(c)
  77,358   312,526
AMC Networks, Inc., Class A(b)
  19,475   449,873
AT&T, Inc.
  2,352,085   69,574,674
CenturyLink, Inc.
  843,293   8,137,777
Charter Communications, Inc., Class A(b)
  17,954   10,413,320
Cinemark Holdings, Inc.
  34,188   404,444
Comcast Corp., Class A
  812,234   34,763,615
Discovery, Inc., Class A(b)(c)
  29,620   624,982
Discovery, Inc., Class C(b)
  63,513   1,203,571
DISH Network Corp., Class A(b)
  63,329   2,033,494
Electronic Arts, Inc.(b)
  20,612   2,919,071
Facebook, Inc., Class A(b)
  113,974   28,911,785
Fox Corp., Class A
  69,161   1,782,279
Fox Corp., Class B
  31,886   821,702
GCI Liberty, Inc., Class A(b)
  10,649   834,775
IAC/InterActiveCorp.(b)
  3,757   497,502
Interpublic Group of Cos., Inc. (The)
  90,899   1,640,727
John Wiley & Sons, Inc., Class A
  13,723   464,249
Liberty Broadband Corp., Class A(b)
  1,657   223,712
Liberty Broadband Corp., Class C(b)
  7,024   964,184
Liberty Global PLC, Class A (United Kingdom)(b)
  92,373   2,161,990
Liberty Global PLC, Class C (United Kingdom)(b)
  219,773   5,002,033
Liberty Latin America Ltd., Class A (Chile)(b)
  16,987   174,626
Liberty Latin America Ltd., Class C (Chile)(b)
  41,907   428,709
Liberty Media Corp.-Liberty Formula One, Class A(b)
  3,052   100,991
Liberty Media Corp.-Liberty Formula One, Class C(b)
  23,894   846,803
Liberty Media Corp.-Liberty SiriusXM, Class A(b)
  19,339   672,804
Liberty Media Corp.-Liberty SiriusXM, Class C(b)
  36,120   1,263,839
Lions Gate Entertainment Corp., Class A(b)(c)
  19,531   149,607
Lions Gate Entertainment Corp., Class B(b)
  43,996   312,812
Live Nation Entertainment, Inc.(b)
  13,501   631,982
Meredith Corp.
  18,808   270,083
Netflix, Inc.(b)
  6,413   3,135,187
News Corp., Class A
  107,880   1,372,234
News Corp., Class B
  33,852   431,952
Nexstar Media Group, Inc., Class A
  6,063   531,422
Omnicom Group, Inc.
  54,044   2,903,784
Sinclair Broadcast Group, Inc., Class A(c)
  24,148   497,449
Spotify Technology S.A.(b)
  3,755   968,114
Take-Two Interactive Software, Inc.(b)
  5,853   960,009
TEGNA, Inc.
  49,253   580,200
Telephone & Data Systems, Inc.
  65,102   1,264,281
T-Mobile US, Inc.(b)
  73,582   7,901,255
Twitter, Inc.(b)
  38,829   1,413,376
Verizon Communications, Inc.
  1,111,600   63,894,768
ViacomCBS, Inc., Class B
  122,611   3,196,469
Walt Disney Co. (The)
  183,542   21,463,402
Yandex N.V., Class A (Russia)(b)
  17,737   1,020,587
        350,527,694
Consumer Discretionary-9.89%
Aaron’s, Inc.
  15,266   796,580
  Shares   Value
Consumer Discretionary-(continued)
Abercrombie & Fitch Co., Class A
  47,393   $456,395
Adient PLC(b)
  81,169   1,350,652
Advance Auto Parts, Inc.
  12,238   1,837,413
Amazon.com, Inc.(b)
  13,987   44,264,379
American Axle & Manufacturing Holdings, Inc.(b)
  166,557   1,175,892
American Eagle Outfitters, Inc.(c)
  62,602   626,020
Aptiv PLC
  37,726   2,933,196
Aramark
  59,838   1,263,779
Asbury Automotive Group, Inc.(b)
  10,479   1,049,472
Autoliv, Inc. (Sweden)
  23,790   1,547,064
AutoNation, Inc.(b)
  44,312   2,274,978
AutoZone, Inc.(b)
  2,584   3,119,973
Bed Bath & Beyond, Inc.(c)
  172,180   1,862,988
Best Buy Co., Inc.
  62,633   6,237,620
Big Lots, Inc.
  32,512   1,279,022
Bloomin’ Brands, Inc.
  27,209   313,448
Booking Holdings, Inc.(b)
  3,077   5,114,374
BorgWarner, Inc.
  71,822   2,628,685
Brinker International, Inc.
  16,692   448,848
Brunswick Corp.
  15,530   1,040,199
Burlington Stores, Inc.(b)
  4,555   856,340
Capri Holdings Ltd.(b)
  59,802   895,834
CarMax, Inc.(b)
  32,988   3,198,846
Carnival Corp.
  145,442   2,018,735
Carter’s, Inc.
  7,934   624,564
Chipotle Mexican Grill, Inc.(b)
  1,135   1,311,107
Cooper Tire & Rubber Co.
  24,346   756,187
Cooper-Standard Holdings, Inc.(b)
  29,960   320,872
Core-Mark Holding Co., Inc.
  29,525   783,003
Cracker Barrel Old Country Store, Inc.
  5,655   624,708
D.R. Horton, Inc.
  47,224   3,124,340
Dana, Inc.
  73,540   840,562
Darden Restaurants, Inc.
  18,550   1,407,945
Deckers Outdoor Corp.(b)
  2,873   601,175
Delphi Technologies PLC(b)
  58,025   869,795
Designer Brands, Inc., Class A
  38,347   226,631
Dick’s Sporting Goods, Inc.
  25,233   1,151,129
Dollar General Corp.
  27,106   5,160,982
Dollar Tree, Inc.(b)
  42,841   3,999,207
Domino’s Pizza, Inc.
  1,850   715,228
Dunkin’ Brands Group, Inc.
  7,877   541,386
eBay, Inc.
  94,963   5,249,555
Expedia Group, Inc.
  19,722   1,597,679
Extended Stay America, Inc.
  77,364   882,723
Foot Locker, Inc.
  48,490   1,425,121
Ford Motor Co.
  4,078,413   26,958,310
GameStop Corp., Class A(b)(c)
  411,602   1,650,524
Gap, Inc. (The)
  135,691   1,814,189
Garmin Ltd.
  17,252   1,700,875
Garrett Motion, Inc. (Switzerland)
  83,193   489,175
General Motors Co.(b)
  827,683   20,601,030
Gentex Corp.
  31,710   855,853
Genuine Parts Co.
  34,874   3,143,891
G-III Apparel Group Ltd.(b)
  22,328   220,824
Goodyear Tire & Rubber Co. (The)
  308,755   2,781,883
Graham Holdings Co., Class B
  1,248   497,166
Group 1 Automotive, Inc.
  11,953   1,004,291
H&R Block, Inc.
  57,777   837,766
Hanesbrands, Inc.
  108,391   1,531,565
Harley-Davidson, Inc.
  59,515   1,549,175
Hasbro, Inc.
  18,206   1,324,669
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
Hilton Worldwide Holdings, Inc.
  14,957   $1,122,523
Home Depot, Inc. (The)
  107,296   28,486,015
International Game Technology PLC
  58,739   579,167
KB Home
  15,520   522,093
Kohl’s Corp.
  104,213   1,984,215
Kontoor Brands, Inc.
  16,749   320,911
L Brands, Inc.
  163,255   3,985,055
Las Vegas Sands Corp.
  68,812   3,002,956
Laureate Education, Inc., Class A(b)
  30,065   381,224
Lear Corp.
  29,421   3,247,490
Leggett & Platt, Inc.
  29,169   1,169,385
Lennar Corp., Class A
  45,660   3,303,501
Lithia Motors, Inc., Class A
  8,877   2,034,165
LKQ Corp.(b)
  74,148   2,090,232
Lowe’s Cos., Inc.
  103,869   15,467,133
lululemon athletica, inc.(b)
  3,232   1,052,307
Macy’s, Inc.(c)
  373,343   2,262,459
Marriott International, Inc., Class A
  23,077   1,934,430
Marriott Vacations Worldwide Corp.
  6,464   547,242
Mattel, Inc.(b)
  142,375   1,581,786
McDonald’s Corp.
  74,365   14,447,632
Meritage Homes Corp.(b)
  10,048   996,561
MGM Resorts International
  99,128   1,594,969
Michaels Cos., Inc. (The)(b)(c)
  130,832   939,374
Mohawk Industries, Inc.(b)
  20,267   1,618,320
Murphy USA, Inc.(b)
  16,209   2,146,234
Newell Brands, Inc.
  107,113   1,756,653
NIKE, Inc., Class B
  77,647   7,579,124
Nordstrom, Inc.(c)
  60,365   826,397
Norwegian Cruise Line Holdings Ltd.(b)(c)
  55,632   758,820
NVR, Inc.(b)
  344   1,351,972
ODP Corp. (The)
  58,701   1,295,531
O’Reilly Automotive, Inc.(b)
  5,840   2,787,899
Penn National Gaming, Inc.(b)
  25,491   862,870
Penske Automotive Group, Inc.
  21,597   967,978
Polaris, Inc.
  13,809   1,431,027
PulteGroup, Inc.
  41,616   1,814,458
PVH Corp.
  23,991   1,167,402
Qurate Retail, Inc., Class A(b)
  342,136   3,732,704
Ralph Lauren Corp.
  11,081   790,075
Ross Stores, Inc.
  25,695   2,304,071
Royal Caribbean Cruises Ltd.
  35,688   1,738,362
Sally Beauty Holdings, Inc.(b)
  67,710   786,113
Service Corp. International
  21,255   921,617
ServiceMaster Global Holdings, Inc.(b)
  20,198   825,896
Signet Jewelers Ltd.
  41,043   440,802
Six Flags Entertainment Corp.
  28,524   496,032
Skechers U.S.A., Inc., Class A(b)
  24,800   726,144
Sonic Automotive, Inc., Class A
  20,688   788,627
Starbucks Corp.
  92,820   7,103,515
Tapestry, Inc.
  89,910   1,201,198
Target Corp.
  127,041   15,991,921
Taylor Morrison Home Corp., Class A(b)
  35,763   838,642
Tenneco, Inc., Class A(b)
  88,827   658,208
Tesla, Inc.(b)
  1,932   2,764,228
Thor Industries, Inc.
  13,539   1,543,311
Tiffany & Co.
  13,579   1,702,263
TJX Cos., Inc. (The)
  124,375   6,466,256
Toll Brothers, Inc.
  26,450   1,010,390
Tractor Supply Co.
  15,458   2,206,475
TRI Pointe Group, Inc.(b)
  44,677   746,999
Tupperware Brands Corp.(c)
  132,165   2,039,306
  Shares   Value
Consumer Discretionary-(continued)
Ulta Beauty, Inc.(b)
  4,805   $927,317
Under Armour, Inc., Class A(b)
  30,547   321,354
Under Armour, Inc., Class C(b)
  30,661   290,973
Urban Outfitters, Inc.(b)(c)
  24,641   407,562
Vail Resorts, Inc.
  3,560   683,627
VF Corp.
  37,230   2,247,203
Visteon Corp.(b)
  19,699   1,430,344
Whirlpool Corp.
  25,450   4,151,404
Williams-Sonoma, Inc.
  18,302   1,594,470
Wyndham Destinations, Inc.
  16,925   450,205
Wynn Resorts Ltd.
  16,832   1,219,142
Yum China Holdings, Inc. (China)
  34,230   1,753,945
Yum! Brands, Inc.
  29,965   2,728,313
        383,212,341
Consumer Staples-9.22%
Altria Group, Inc.
  470,681   19,368,523
Archer-Daniels-Midland Co.
  261,145   11,184,840
B&G Foods, Inc.(c)
  46,872   1,355,070
BJ’s Wholesale Club Holdings, Inc.(b)
  68,416   2,740,061
Brown-Forman Corp., Class B
  22,251   1,542,884
Bunge Ltd.
  83,029   3,606,780
Campbell Soup Co.
  30,429   1,508,366
Casey’s General Stores, Inc.
  6,702   1,066,891
Church & Dwight Co., Inc.
  20,058   1,932,187
Clorox Co. (The)
  13,729   3,247,046
Coca-Cola Co. (The)
  416,222   19,662,327
Coca-Cola European Partners PLC (United Kingdom)
  44,366   1,826,548
Colgate-Palmolive Co.
  93,665   7,230,938
Conagra Brands, Inc.
  102,929   3,854,691
Constellation Brands, Inc., Class A
  16,817   2,996,789
Costco Wholesale Corp.
  62,833   20,454,026
Coty, Inc., Class A
  81,828   303,582
Darling Ingredients, Inc.(b)
  37,644   1,051,397
Edgewell Personal Care Co.(b)
  17,244   515,423
Estee Lauder Cos., Inc. (The), Class A
  11,620   2,295,415
Flowers Foods, Inc.
  42,481   966,443
General Mills, Inc.
  125,716   7,954,051
Hain Celestial Group, Inc. (The)(b)
  20,570   698,969
Hershey Co. (The)
  15,375   2,235,679
Hormel Foods Corp.
  34,130   1,735,852
Ingredion, Inc.
  17,440   1,508,560
JM Smucker Co. (The)
  27,590   3,016,967
Kellogg Co.
  48,581   3,351,603
Keurig Dr Pepper, Inc.
  32,682   999,742
Kimberly-Clark Corp.
  48,964   7,444,487
Kraft Heinz Co. (The)
  298,662   10,268,000
Kroger Co. (The)
  488,803   17,005,456
Lamb Weston Holdings, Inc.
  7,901   474,692
McCormick & Co., Inc.
  10,255   1,998,700
Molson Coors Beverage Co., Class B
  60,481   2,269,247
Mondelez International, Inc., Class A
  190,174   10,552,755
Monster Beverage Corp.(b)
  17,227   1,351,975
Nomad Foods Ltd. (United Kingdom)(b)
  37,575   866,480
Nu Skin Enterprises, Inc., Class A
  23,781   1,066,578
PepsiCo, Inc.
  176,972   24,361,966
Performance Food Group Co.(b)
  37,324   1,045,818
Philip Morris International, Inc.
  305,651   23,477,053
Post Holdings, Inc.(b)
  11,818   1,048,729
Procter & Gamble Co. (The)
  315,997   41,433,527
Rite Aid Corp.(b)(c)
  211,940   3,213,010
Sanderson Farms, Inc.
  4,721   526,368
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Consumer Staples-(continued)
Spectrum Brands Holdings, Inc.
  16,089   $871,380
Sprouts Farmers Market, Inc.(b)
  44,022   1,161,300
Sysco Corp.
  97,211   5,137,601
TreeHouse Foods, Inc.(b)
  23,754   1,040,900
Tyson Foods, Inc., Class A
  77,220   4,745,169
United Natural Foods, Inc.(b)
  119,296   2,368,026
Universal Corp.
  11,572   487,876
US Foods Holding Corp.(b)
  96,061   1,950,038
Vector Group Ltd.
  41,841   369,038
Walgreens Boots Alliance, Inc.
  347,127   14,131,540
Walmart, Inc.
  357,765   46,294,791
        357,174,150
Energy-6.81%
Antero Resources Corp.(b)(c)
  1,234,442   3,653,948
Apache Corp.
  91,431   1,403,466
Baker Hughes Co., Class A
  366,486   5,676,868
Cabot Oil & Gas Corp.
  55,231   1,032,820
Cheniere Energy, Inc.(b)
  15,303   757,192
Chevron Corp.
  616,270   51,729,704
Cimarex Energy Co.
  20,131   492,404
CNX Resources Corp.(b)
  132,248   1,276,193
Concho Resources, Inc.
  55,113   2,895,637
ConocoPhillips
  298,421   11,157,961
Continental Resources, Inc.(c)
  24,973   431,783
Cosan Ltd., Class A (Brazil)
  38,707   781,881
Delek US Holdings, Inc.
  43,045   752,427
Devon Energy Corp.
  146,413   1,535,872
Diamondback Energy, Inc.
  27,079   1,079,369
EOG Resources, Inc.
  91,873   4,304,250
EQT Corp.
  290,505   4,218,133
Exxon Mobil Corp.
  1,720,567   72,401,459
Gulfport Energy Corp.(b)
  595,275   601,228
Halliburton Co.
  292,195   4,187,154
Helmerich & Payne, Inc.
  45,686   814,581
Hess Corp.
  44,685   2,198,949
HollyFrontier Corp.
  80,185   2,205,087
Kinder Morgan, Inc.
  512,861   7,231,340
Marathon Oil Corp.
  409,542   2,248,386
Marathon Petroleum Corp.
  279,149   10,663,492
Murphy Oil Corp.
  86,877   1,147,645
Nabors Industries Ltd.(c)
  11,529   488,945
National Oilwell Varco, Inc.
  184,255   2,120,775
Noble Energy, Inc.
  167,072   1,669,049
Oasis Petroleum, Inc.(b)
  622,925   398,672
Occidental Petroleum Corp.
  295,255   4,647,314
Occidental Petroleum Corp., Wts., expiring August 3, 2027(b)
  37,498   209,989
Oceaneering International, Inc.(b)
  66,340   372,831
ONEOK, Inc.
  59,951   1,673,232
Parsley Energy, Inc., Class A
  56,668   622,215
Patterson-UTI Energy, Inc.
  146,109   566,172
PBF Energy, Inc., Class A
  105,920   919,386
PDC Energy, Inc.(b)
  33,279   474,559
Peabody Energy Corp.
  122,061   380,830
Phillips 66
  201,682   12,508,318
Pioneer Natural Resources Co.
  20,465   1,983,468
QEP Resources, Inc.
  247,891   364,400
Range Resources Corp.
  259,179   1,674,296
Schlumberger Ltd.
  556,805   10,100,443
SM Energy Co.
  115,590   340,991
Southwestern Energy Co.(b)
  479,027   1,164,036
Targa Resources Corp.
  80,505   1,471,631
  Shares   Value
Energy-(continued)
Transocean Ltd.(b)(c)
  692,800   $1,413,312
Valaris PLC (Saudi Arabia)(b)(c)
  464,538   182,145
Valero Energy Corp.
  219,109   12,320,499
Whiting Petroleum Corp.(b)(c)
  398,606   310,913
Williams Cos., Inc. (The)
  357,878   6,846,206
World Fuel Services Corp.
  40,598   955,271
WPX Energy, Inc.(b)
  120,131   717,182
        263,776,309
Financials-15.87%
Affiliated Managers Group, Inc.
  13,088   900,324
Aflac, Inc.
  174,996   6,224,608
AGNC Investment Corp.
  109,484   1,488,982
Alleghany Corp.
  2,320   1,211,782
Allstate Corp. (The)
  74,475   7,029,695
Ally Financial, Inc.
  183,590   3,690,159
American Equity Investment Life Holding Co.
  31,071   790,757
American Express Co.
  95,667   8,927,644
American Financial Group, Inc.
  17,751   1,078,728
American International Group, Inc.
  414,903   13,334,982
Ameriprise Financial, Inc.
  25,763   3,957,970
Annaly Capital Management, Inc.
  315,133   2,335,136
Aon PLC, Class A
  15,077   3,094,102
Arch Capital Group Ltd.(b)
  53,243   1,637,222
Arthur J. Gallagher & Co.
  20,061   2,156,357
Associated Banc-Corp.
  46,654   599,037
Assurant, Inc.
  14,101   1,515,434
Assured Guaranty Ltd.
  33,014   720,696
Athene Holding Ltd., Class A(b)
  46,083   1,486,177
AXIS Capital Holdings Ltd.
  22,595   906,511
Bank of America Corp.
  1,657,388   41,235,813
Bank of Hawaii Corp.
  6,527   369,624
Bank of New York Mellon Corp. (The)
  226,307   8,113,106
Bank OZK
  31,036   746,416
BankUnited, Inc.
  27,802   559,932
Berkshire Hathaway, Inc., Class B(b)
  376,320   73,675,930
BlackRock, Inc.
  16,832   9,678,568
Blackstone Group, Inc. (The), Class A
  61,681   3,286,364
Blackstone Mortgage Trust, Inc., Class A
  21,889   526,868
BOK Financial Corp.
  7,038   392,017
Brighthouse Financial, Inc.(b)
  70,568   1,999,897
Brown & Brown, Inc.
  17,233   783,585
Capital One Financial Corp.
  172,813   11,025,469
Cathay General Bancorp
  15,513   375,104
Cboe Global Markets, Inc.
  7,214   632,668
Charles Schwab Corp. (The)
  113,876   3,774,989
Chimera Investment Corp.
  63,470   570,595
Chubb Ltd.
  82,949   10,554,431
Cincinnati Financial Corp.
  23,270   1,813,431
CIT Group, Inc.
  38,816   736,340
Citigroup, Inc.
  681,596   34,086,616
Citizens Financial Group, Inc.
  142,707   3,540,561
CME Group, Inc., Class A
  33,438   5,556,727
CNO Financial Group, Inc.
  66,766   1,008,167
Columbia Banking System, Inc.
  14,909   431,317
Comerica, Inc.
  37,691   1,451,857
Commerce Bancshares, Inc.
  12,322   705,558
Credicorp Ltd. (Peru)
  10,419   1,324,984
Cullen/Frost Bankers, Inc.
  10,667   768,664
Discover Financial Services
  85,274   4,215,094
E*TRADE Financial Corp.
  27,465   1,394,398
East West Bancorp, Inc.
  29,956   1,038,275
Eaton Vance Corp.
  16,852   609,031
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
Equitable Holdings, Inc.
  131,815   $2,696,935
Essent Group Ltd.
  11,874   425,445
Everest Re Group Ltd.
  8,173   1,788,171
F.N.B. Corp.
  97,833   724,943
FactSet Research Systems, Inc.
  1,842   637,885
Federated Hermes, Inc., Class B
  18,458   486,553
Fidelity National Financial, Inc.
  46,604   1,508,105
Fifth Third Bancorp
  180,609   3,586,895
First American Financial Corp.
  23,708   1,209,345
First Citizens BancShares, Inc., Class A
  1,059   450,996
First Hawaiian, Inc.(c)
  25,763   447,761
First Horizon National Corp.
  121,232   1,123,821
First Republic Bank
  16,145   1,815,990
Franklin Resources, Inc.
  121,571   2,559,070
Fulton Financial Corp.
  40,362   391,511
Genworth Financial, Inc., Class A(b)
  314,300   641,172
Globe Life, Inc.
  16,994   1,352,722
Goldman Sachs Group, Inc. (The)
  89,888   17,794,228
Hancock Whitney Corp.
  21,947   418,310
Hanover Insurance Group, Inc. (The)
  8,537   869,750
Hartford Financial Services Group, Inc. (The)
  100,961   4,272,670
Home BancShares, Inc.
  28,733   469,210
Huntington Bancshares, Inc.
  238,707   2,212,814
Intercontinental Exchange, Inc.
  47,167   4,564,822
Invesco Ltd.(d)
  169,346   1,700,234
Invesco Mortgage Capital, Inc.(c)(d)
  36,833   113,077
Investors Bancorp, Inc.
  58,327   473,615
Janus Henderson Group PLC (United Kingdom)
  48,492   1,012,998
Jefferies Financial Group, Inc.
  96,502   1,563,332
JPMorgan Chase & Co.
  593,347   57,341,054
Kemper Corp.
  10,591   831,605
KeyCorp
  217,673   2,614,253
Legg Mason, Inc.
  21,640   1,081,784
Lincoln National Corp.
  80,241   2,990,582
Loews Corp.
  79,541   2,896,088
LPL Financial Holdings, Inc.
  11,753   928,722
M&T Bank Corp.
  27,137   2,875,165
Markel Corp.(b)
  1,892   1,976,270
Marsh & McLennan Cos., Inc.
  47,502   5,538,733
MetLife, Inc.
  319,494   12,092,848
MFA Financial, Inc.
  114,742   301,771
MGIC Investment Corp.
  78,188   646,615
Moody’s Corp.
  6,303   1,773,034
Morgan Stanley
  300,905   14,708,236
MSCI, Inc.
  2,142   805,349
Nasdaq, Inc.
  11,371   1,493,126
Navient Corp.
  150,721   1,199,739
New Residential Investment Corp.
  132,262   1,048,838
New York Community Bancorp, Inc.
  181,907   1,915,481
Northern Trust Corp.
  33,465   2,621,983
Old National Bancorp
  36,501   510,649
Old Republic International Corp.
  86,359   1,387,789
OneMain Holdings, Inc.
  20,762   595,869
PacWest Bancorp
  42,080   769,012
People’s United Financial, Inc.
  106,139   1,145,240
Pinnacle Financial Partners, Inc.
  11,498   455,551
PNC Financial Services Group, Inc. (The)
  89,731   9,571,606
Popular, Inc.
  24,041   892,162
Primerica, Inc.
  5,390   644,967
Principal Financial Group, Inc.
  93,042   3,947,772
ProAssurance Corp.
  27,082   398,105
  Shares   Value
Financials-(continued)
Progressive Corp. (The)
  74,897   $6,766,195
Prosperity Bancshares, Inc.
  12,783   710,223
Prudential Financial, Inc.
  202,760   12,848,901
Radian Group, Inc.
  34,917   520,962
Raymond James Financial, Inc.
  19,993   1,389,114
Regions Financial Corp.
  273,770   2,973,142
Reinsurance Group of America, Inc.
  19,340   1,648,735
RenaissanceRe Holdings Ltd. (Bermuda)
  5,149   928,777
S&P Global, Inc.
  9,714   3,402,329
Santander Consumer USA Holdings, Inc.(c)
  36,755   674,822
SEI Investments Co.
  9,918   519,009
Selective Insurance Group, Inc.
  9,911   538,564
Signature Bank
  6,777   694,846
SLM Corp.
  82,818   560,678
Starwood Property Trust, Inc.
  66,838   999,228
State Street Corp.
  85,950   5,482,751
Sterling Bancorp
  41,147   462,904
Stifel Financial Corp.
  11,786   571,385
SVB Financial Group(b)
  6,723   1,507,767
Synchrony Financial
  235,288   5,206,923
Synovus Financial Corp.
  25,022   504,193
T. Rowe Price Group, Inc.
  29,320   4,049,092
TCF Financial Corp.
  15,331   421,449
TD Ameritrade Holding Corp.
  34,228   1,228,443
Texas Capital Bancshares, Inc.(b)
  12,710   422,226
Travelers Cos., Inc. (The)
  88,280   10,100,998
Truist Financial Corp.
  163,140   6,111,224
Two Harbors Investment Corp.
  66,230   359,629
U.S. Bancorp
  295,575   10,888,983
UMB Financial Corp.
  8,468   421,706
Umpqua Holdings Corp.
  68,160   739,536
United Bankshares, Inc.
  25,211   663,554
Unum Group
  112,144   1,932,241
Valley National Bancorp
  79,349   592,737
Voya Financial, Inc.
  41,157   2,033,156
W.R. Berkley Corp.
  23,221   1,433,897
Waddell & Reed Financial, Inc., Class A
  47,160   688,064
Washington Federal, Inc.
  16,625   388,028
Webster Financial Corp.
  19,324   526,965
Wells Fargo & Co.
  1,323,128   32,099,085
Western Alliance Bancorporation
  12,797   460,052
Willis Towers Watson PLC
  14,334   3,010,283
Wintrust Financial Corp.
  12,023   514,584
Zions Bancorporation N.A.
  38,514   1,250,550
        614,629,007
Health Care-13.11%
Abbott Laboratories
  147,821   14,876,705
AbbVie, Inc.
  235,714   22,371,616
Acadia Healthcare Co., Inc.(b)
  24,425   728,109
Agilent Technologies, Inc.
  21,625   2,083,136
Alexion Pharmaceuticals, Inc.(b)
  23,033   2,360,652
Align Technology, Inc.(b)
  2,296   674,611
AmerisourceBergen Corp.
  108,297   10,850,276
Amgen, Inc.
  76,783   18,786,497
Anthem, Inc.
  56,553   15,484,211
Baxter International, Inc.
  39,668   3,426,522
Becton, Dickinson and Co.
  23,727   6,675,354
Biogen, Inc.(b)
  21,641   5,944,566
BioMarin Pharmaceutical, Inc.(b)
  6,210   744,020
Bio-Rad Laboratories, Inc., Class A(b)
  1,832   961,598
Boston Scientific Corp.(b)
  78,333   3,021,304
Bristol-Myers Squibb Co.
  190,022   11,146,691
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Health Care-(continued)
Brookdale Senior Living, Inc.(b)
  105,654   $292,662
Cardinal Health, Inc.
  217,996   11,906,942
Catalent, Inc.(b)
  11,939   1,042,752
Centene Corp.(b)
  114,665   7,481,891
Cerner Corp.
  29,885   2,075,513
Charles River Laboratories International, Inc.(b)
  3,813   758,749
Cigna Corp.
  50,952   8,798,901
Community Health Systems, Inc.(b)
  176,418   878,562
Cooper Cos., Inc. (The)
  2,405   680,447
Covetrus, Inc.(b)
  56,628   1,254,876
CVS Health Corp.
  467,276   29,410,351
Danaher Corp.
  41,013   8,358,449
DaVita, Inc.(b)
  31,839   2,782,410
DENTSPLY SIRONA, Inc.
  19,025   848,515
Edwards Lifesciences Corp.(b)
  19,456   1,525,545
Elanco Animal Health, Inc.(b)
  41,766   986,931
Eli Lilly and Co.
  71,409   10,732,059
Encompass Health Corp.
  13,236   901,107
Gilead Sciences, Inc.
  239,236   16,634,079
HCA Healthcare, Inc.
  45,187   5,722,482
Henry Schein, Inc.(b)
  29,319   2,015,095
Hill-Rom Holdings, Inc.
  6,702   651,568
Hologic, Inc.(b)
  26,433   1,844,495
Humana, Inc.
  23,015   9,032,237
ICON PLC (Ireland)(b)
  4,067   754,266
Illumina, Inc.(b)
  4,997   1,909,654
Intuitive Surgical, Inc.(b)
  3,473   2,380,533
IQVIA Holdings, Inc.(b)
  15,608   2,472,151
Jazz Pharmaceuticals PLC(b)
  7,705   834,066
Johnson & Johnson
  337,214   49,152,313
Laboratory Corp. of America Holdings(b)
  17,165   3,311,472
Magellan Health, Inc.(b)
  12,099   897,383
Mallinckrodt PLC(b)(c)
  226,367   504,798
McKesson Corp.
  124,699   18,724,802
MEDNAX, Inc.(b)
  64,015   1,279,020
Medtronic PLC
  165,082   15,927,111
Merck & Co., Inc.
  329,803   26,463,393
Mettler-Toledo International, Inc.(b)
  1,091   1,020,085
Molina Healthcare, Inc.(b)
  17,264   3,188,661
Mylan N.V.(b)
  236,672   3,812,786
Owens & Minor, Inc.
  145,997   2,347,632
Patterson Cos., Inc.
  38,550   1,023,888
PerkinElmer, Inc.
  8,682   1,032,377
Perrigo Co. PLC
  23,015   1,220,255
Pfizer, Inc.
  1,189,264   45,762,879
PRA Health Sciences, Inc.(b)
  5,663   603,449
Quest Diagnostics, Inc.
  23,301   2,960,858
Regeneron Pharmaceuticals, Inc.(b)
  5,486   3,467,536
ResMed, Inc.
  6,578   1,332,111
Select Medical Holdings Corp.(b)
  21,171   403,096
STERIS PLC
  6,135   979,330
Stryker Corp.
  22,066   4,265,358
Teleflex, Inc.
  2,405   897,305
Tenet Healthcare Corp.(b)
  100,983   2,669,991
Thermo Fisher Scientific, Inc.
  24,892   10,304,043
United Therapeutics Corp.(b)
  9,718   1,083,265
UnitedHealth Group, Inc.
  127,738   38,676,512
Universal Health Services, Inc., Class B
  15,098   1,659,270
Varian Medical Systems, Inc.(b)
  6,354   906,843
Vertex Pharmaceuticals, Inc.(b)
  3,730   1,014,560
Waters Corp.(b)
  4,650   991,147
  Shares   Value
Health Care-(continued)
Zimmer Biomet Holdings, Inc.
  20,228   $2,727,948
Zoetis, Inc.
  14,687   2,227,724
        507,942,357
Industrials-9.61%
3M Co.
  99,827   15,020,969
A.O. Smith Corp.
  17,995   866,279
ABM Industries, Inc.
  21,766   781,399
Acuity Brands, Inc.
  6,814   675,267
AECOM(b)
  58,749   2,126,126
AerCap Holdings N.V. (Ireland)(b)
  51,869   1,396,832
AGCO Corp.
  18,939   1,242,967
Air Lease Corp.
  24,673   646,926
Allegion PLC
  5,207   517,888
Allison Transmission Holdings, Inc.
  18,916   706,702
AMERCO
  1,893   601,463
American Airlines Group, Inc.(c)
  73,546   817,832
AMETEK, Inc.
  17,308   1,613,971
Applied Industrial Technologies, Inc.
  8,228   519,351
ASGN, Inc.(b)
  10,649   729,031
Avis Budget Group, Inc.(b)(c)
  54,454   1,410,359
Beacon Roofing Supply, Inc.(b)
  28,238   879,896
Boeing Co. (The)
  64,994   10,269,052
Builders FirstSource, Inc.(b)
  32,565   771,465
C.H. Robinson Worldwide, Inc.
  34,600   3,242,712
Carlisle Cos., Inc.
  7,061   840,824
Carrier Global Corp.
  132,146   3,599,657
Caterpillar, Inc.
  106,614   14,166,868
Cintas Corp.
  5,180   1,563,687
Clean Harbors, Inc.(b)
  9,020   537,592
Colfax Corp.(b)
  25,121   730,519
Copart, Inc.(b)
  6,743   628,785
CoreLogic, Inc.
  12,085   823,714
CoStar Group, Inc.(b)
  1,003   852,309
Covanta Holding Corp.
  41,797   411,282
Crane Co.
  8,730   493,856
CSX Corp.
  84,810   6,050,345
Cummins, Inc.
  34,456   6,658,967
Curtiss-Wright Corp.
  4,609   410,754
Deere & Co.
  53,243   9,387,273
Delta Air Lines, Inc.
  48,735   1,216,913
Deluxe Corp.
  16,771   473,445
Donaldson Co., Inc.
  15,141   731,916
Dover Corp.
  17,073   1,757,324
Dycom Industries, Inc.(b)
  13,418   574,693
Eaton Corp. PLC
  79,874   7,438,666
EMCOR Group, Inc.
  12,732   872,142
Emerson Electric Co.
  109,537   6,792,389
EnerSys
  8,435   567,338
Equifax, Inc.
  9,761   1,586,748
Expeditors International of Washington, Inc.
  21,641   1,828,881
Fastenal Co.
  54,771   2,576,428
FedEx Corp.
  71,001   11,956,568
Flowserve Corp.
  24,830   692,012
Fluor Corp.
  203,369   2,072,330
Fortive Corp.
  25,627   1,798,759
Fortune Brands Home & Security, Inc.
  18,573   1,420,834
FTI Consulting, Inc.(b)
  4,629   552,888
GATX Corp.
  10,840   661,132
General Dynamics Corp.
  43,074   6,320,679
General Electric Co.
  2,914,290   17,689,740
Graco, Inc.
  10,649   566,953
Greenbrier Cos., Inc. (The)
  22,372   575,632
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
HD Supply Holdings, Inc.(b)
  31,585   $1,108,633
Hertz Global Holdings, Inc.(b)
  128,401   186,181
Hexcel Corp.
  8,606   321,004
Honeywell International, Inc.
  80,860   12,078,058
Howmet Aerospace, Inc.
  80,605   1,191,342
Hub Group, Inc., Class A(b)
  11,520   609,408
Hubbell, Inc.
  8,610   1,162,092
Huntington Ingalls Industries, Inc.
  6,578   1,142,664
IDEX Corp.
  5,808   957,275
IHS Markit Ltd.
  24,129   1,947,934
Illinois Tool Works, Inc.
  31,527   5,832,180
ITT, Inc.
  11,487   663,145
J.B. Hunt Transport Services, Inc.
  12,405   1,605,207
Jacobs Engineering Group, Inc.
  18,939   1,616,444
JetBlue Airways Corp.(b)
  30,334   313,654
Johnson Controls International PLC
  186,450   7,174,596
Kansas City Southern
  10,412   1,789,302
Kennametal, Inc.
  19,329   521,110
Kirby Corp.(b)
  14,945   691,057
Knight-Swift Transportation Holdings, Inc.
  24,343   1,058,677
L3Harris Technologies, Inc.
  9,706   1,633,811
Landstar System, Inc.
  5,840   711,195
Lennox International, Inc.
  2,773   743,552
Lincoln Electric Holdings, Inc.
  8,632   780,246
Lockheed Martin Corp.
  27,733   10,509,975
Macquarie Infrastructure Corp.
  31,686   949,313
ManpowerGroup, Inc.
  31,968   2,199,079
Masco Corp.
  34,466   1,970,077
MasTec, Inc.(b)
  15,262   607,122
Meritor, Inc.(b)
  25,955   590,476
Middleby Corp. (The)(b)
  7,337   609,411
MRC Global, Inc.(b)
  68,484   407,480
MSC Industrial Direct Co., Inc., Class A
  11,506   759,511
Mueller Industries, Inc.
  17,899   500,456
Navistar International Corp.(b)
  19,368   620,357
Nielsen Holdings PLC
  129,084   1,862,682
Nordson Corp.
  4,466   864,752
Norfolk Southern Corp.
  34,180   6,569,738
Northrop Grumman Corp.
  17,854   5,802,729
nVent Electric PLC
  27,694   502,923
Old Dominion Freight Line, Inc.
  5,710   1,043,902
Oshkosh Corp.
  16,409   1,291,716
Otis Worldwide Corp.
  66,073   4,145,420
Owens Corning
  27,828   1,682,759
PACCAR, Inc.
  84,888   7,222,271
Parker-Hannifin Corp.
  17,651   3,158,117
Pentair PLC
  24,389   1,045,069
Pitney Bowes, Inc.
  279,280   932,795
Quanta Services, Inc.
  37,068   1,481,608
Raytheon Technologies Corp.
  221,796   12,571,397
Regal Beloit Corp.
  10,158   934,231
Republic Services, Inc.
  28,214   2,461,671
Resideo Technologies, Inc.(b)
  98,207   1,304,189
Rexnord Corp.
  16,581   480,352
Robert Half International, Inc.
  20,453   1,040,444
Rockwell Automation, Inc.
  11,857   2,586,486
Roper Technologies, Inc.
  6,075   2,627,134
Rush Enterprises, Inc., Class A
  12,492   594,369
Ryder System, Inc.
  51,227   1,876,445
Sensata Technologies Holding PLC(b)
  27,589   1,047,830
Snap-on, Inc.
  9,649   1,407,500
Southwest Airlines Co.
  27,047   835,482
  Shares   Value
Industrials-(continued)
Spirit AeroSystems Holdings, Inc., Class A
  19,698   $385,490
Stanley Black & Decker, Inc.
  24,626   3,775,658
Stericycle, Inc.(b)
  16,180   977,838
Teledyne Technologies, Inc.(b)
  2,405   737,613
Terex Corp.
  29,200   550,420
Textron, Inc.
  57,679   2,015,304
Timken Co. (The)
  14,984   684,169
Toro Co. (The)
  8,222   586,640
Trane Technologies PLC
  28,132   3,147,127
TransDigm Group, Inc.
  4,785   2,065,110
TransUnion
  7,151   640,515
Trinity Industries, Inc.(c)
  42,040   821,041
Triton International Ltd. (Bermuda)
  17,393   547,358
Tutor Perini Corp.(b)
  52,615   619,279
Uber Technologies, Inc.(b)
  23,539   712,290
UFP Industries, Inc.
  9,966   580,221
Union Pacific Corp.
  84,551   14,656,916
United Airlines Holdings, Inc.(b)
  32,902   1,032,465
United Parcel Service, Inc., Class B
  148,512   21,201,573
United Rentals, Inc.(b)
  22,961   3,567,451
Univar Solutions, Inc.(b)
  69,079   1,220,626
Valmont Industries, Inc.
  4,833   585,760
Verisk Analytics, Inc.
  7,057   1,331,726
W.W. Grainger, Inc.
  7,175   2,450,478
Wabtec Corp.
  12,810   796,654
Waste Management, Inc.
  46,992   5,150,323
Watsco, Inc.
  5,275   1,245,269
WESCO International, Inc.(b)
  35,348   1,373,977
XPO Logistics, Inc.(b)
  26,262   1,970,175
Xylem, Inc.
  15,549   1,134,766
        372,217,596
Information Technology-15.30%
Accenture PLC, Class A
  53,124   11,941,213
Adobe, Inc.(b)
  9,646   4,285,911
Advanced Micro Devices, Inc.(b)
  15,666   1,213,018
Akamai Technologies, Inc.(b)
  12,865   1,446,541
Alliance Data Systems Corp.
  15,849   703,062
Amdocs Ltd.
  19,262   1,196,170
Amphenol Corp., Class A
  23,071   2,439,989
Analog Devices, Inc.
  33,250   3,818,763
ANSYS, Inc.(b)
  3,053   948,262
Apple, Inc.
  344,049   146,234,587
Applied Materials, Inc.
  78,997   5,081,877
Arrow Electronics, Inc.(b)
  56,592   4,053,119
Automatic Data Processing, Inc.
  30,598   4,066,780
Avaya Holdings Corp.(b)
  60,114   761,043
Avnet, Inc.
  87,743   2,344,493
Benchmark Electronics, Inc.
  20,643   420,291
Black Knight, Inc.(b)
  9,287   695,782
Booz Allen Hamilton Holding Corp.
  16,142   1,319,770
Broadcom, Inc.
  32,633   10,336,503
Broadridge Financial Solutions, Inc.
  9,522   1,279,186
CACI International, Inc., Class A(b)
  3,754   780,156
Cadence Design Systems, Inc.(b)
  9,553   1,043,665
CDK Global, Inc.
  11,798   536,337
CDW Corp.
  15,989   1,858,721
Check Point Software Technologies Ltd. (Israel)(b)
  9,194   1,152,468
Ciena Corp.(b)
  18,285   1,088,140
Cisco Systems, Inc.
  665,658   31,352,492
Citrix Systems, Inc.
  5,721   816,730
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
Cognizant Technology Solutions Corp., Class A
  62,778   $4,288,993
CommScope Holding Co., Inc.(b)
  109,305   1,014,350
Conduent, Inc.(b)
  178,635   341,193
Corning, Inc.
  182,977   5,672,287
Cree, Inc.(b)
  12,850   885,622
Dell Technologies, Inc., Class C(b)
  47,996   2,871,601
DXC Technology Co.
  163,578   2,929,682
EchoStar Corp., Class A(b)
  15,088   411,902
Euronet Worldwide, Inc.(b)
  4,339   417,151
F5 Networks, Inc.(b)
  6,486   881,447
Fidelity National Information Services, Inc.
  26,639   3,897,552
First Solar, Inc.(b)
  21,306   1,268,772
Fiserv, Inc.(b)
  16,273   1,623,883
FleetCor Technologies, Inc.(b)
  4,540   1,173,908
Flex Ltd.(b)
  324,152   3,724,507
FLIR Systems, Inc.
  12,770   531,998
Gartner, Inc.(b)
  4,487   559,260
Genpact Ltd.
  14,958   595,628
Global Payments, Inc.
  5,735   1,020,945
Hewlett Packard Enterprise Co.
  609,851   6,019,229
HP, Inc.
  343,972   6,047,028
Insight Enterprises, Inc.(b)
  16,555   825,101
Intel Corp.
  651,275   31,085,356
International Business Machines Corp.
  220,376   27,093,025
Intuit, Inc.
  7,901   2,420,629
Jabil, Inc.
  69,716   2,430,300
Jack Henry & Associates, Inc.
  4,573   815,366
Juniper Networks, Inc.
  76,048   1,930,098
KBR, Inc.
  26,743   594,764
Keysight Technologies, Inc.(b)
  11,077   1,106,482
KLA Corp.
  21,623   4,320,924
Lam Research Corp.
  9,435   3,558,505
Leidos Holdings, Inc.
  20,637   1,963,817
Marvell Technology Group Ltd.
  65,517   2,389,405
Mastercard, Inc., Class A
  18,565   5,727,859
Maxim Integrated Products, Inc.
  29,293   1,994,560
Microchip Technology, Inc.
  22,328   2,271,427
Micron Technology, Inc.(b)
  238,733   11,949,780
Microsoft Corp.
  379,313   77,762,958
MKS Instruments, Inc.
  5,696   725,898
Motorola Solutions, Inc.
  10,248   1,432,670
National Instruments Corp.
  14,903   529,057
NCR Corp.(b)
  43,669   804,820
NetApp, Inc.
  36,830   1,631,569
NortonLifeLock, Inc.
  165,692   3,554,093
Nuance Communications, Inc.(b)
  24,055   657,904
NVIDIA Corp.
  12,790   5,430,506
NXP Semiconductors N.V. (Netherlands)
  28,496   3,349,135
ON Semiconductor Corp.(b)
  79,927   1,646,496
Oracle Corp.
  256,123   14,202,020
Paychex, Inc.
  31,557   2,269,579
PayPal Holdings, Inc.(b)
  45,675   8,955,497
Perspecta, Inc.
  28,475   609,365
Plexus Corp.(b)
  7,732   574,410
Qorvo, Inc.(b)
  15,047   1,928,273
QUALCOMM, Inc.
  164,008   17,320,885
Sabre Corp.
  55,991   423,292
salesforce.com, inc.(b)
  20,727   4,038,656
Sanmina Corp.(b)
  39,436   1,170,461
Science Applications International Corp.
  9,069   725,339
Seagate Technology PLC
  79,815   3,609,234
  Shares   Value
Information Technology-(continued)
Skyworks Solutions, Inc.
  16,639   $2,422,306
SS&C Technologies Holdings, Inc.
  15,057   865,778
SYNNEX Corp.
  12,467   1,555,134
Synopsys, Inc.(b)
  7,962   1,586,190
TE Connectivity Ltd.
  56,069   4,994,066
Teradata Corp.(b)
  24,394   512,274
Teradyne, Inc.
  10,449   929,543
Texas Instruments, Inc.
  84,822   10,819,046
Trimble, Inc.(b)
  22,427   998,226
TTM Technologies, Inc.(b)
  46,373   570,852
ViaSat, Inc.(b)
  11,090   420,976
Visa, Inc., Class A
  54,291   10,337,006
Vishay Intertechnology, Inc.
  33,196   520,845
Western Digital Corp.
  90,638   3,906,498
Western Union Co. (The)
  75,338   1,829,207
WEX, Inc.(b)
  3,067   485,721
Xerox Holdings Corp.
  60,113   1,000,881
Xilinx, Inc.
  21,700   2,329,495
Zebra Technologies Corp., Class A(b)
  3,924   1,101,663
        592,407,229
Materials-3.80%
Air Products and Chemicals, Inc.
  20,701   5,933,528
Albemarle Corp.
  15,261   1,258,422
Alcoa Corp.(b)
  166,796   2,168,348
Allegheny Technologies, Inc.(b)
  34,415   299,066
AptarGroup, Inc.
  7,505   864,576
Arconic Corp.(b)
  20,165   328,488
Ashland Global Holdings, Inc.
  11,489   867,190
Avery Dennison Corp.
  11,284   1,278,929
Avient Corp.
  19,198   458,832
Axalta Coating Systems Ltd.(b)
  37,308   828,238
Ball Corp.
  27,368   2,015,106
Berry Global Group, Inc.(b)
  37,227   1,860,978
Boise Cascade Co.
  13,731   639,727
Cabot Corp.
  17,388   634,314
Carpenter Technology Corp.
  13,387   299,333
Celanese Corp.
  19,515   1,896,858
CF Industries Holdings, Inc.
  58,623   1,836,659
Chemours Co. (The)
  66,752   1,236,915
Commercial Metals Co.
  44,569   921,687
Compass Minerals International, Inc.
  9,275   472,468
Constellium SE(b)
  57,784   462,850
Corteva, Inc.
  170,104   4,858,170
Crown Holdings, Inc.(b)
  25,441   1,821,067
Domtar Corp.
  39,727   833,870
Dow, Inc.
  171,312   7,034,071
DuPont de Nemours, Inc.
  306,280   16,379,854
Eastman Chemical Co.
  45,412   3,389,098
Ecolab, Inc.
  20,094   3,759,185
Element Solutions, Inc.(b)
  56,285   611,255
FMC Corp.
  9,009   955,404
Freeport-McMoRan, Inc.
  378,424   4,889,238
Graphic Packaging Holding Co.
  77,828   1,084,922
Greif, Inc., Class A
  11,051   384,464
H.B. Fuller Co.
  11,752   532,836
Huntsman Corp.
  96,241   1,780,458
International Flavors & Fragrances, Inc.
  14,394   1,812,924
International Paper Co.
  151,766   5,279,939
Linde PLC (United Kingdom)
  65,347   16,017,203
Louisiana-Pacific Corp.
  23,008   728,663
LyondellBasell Industries N.V., Class A
  115,020   7,191,050
Martin Marietta Materials, Inc.
  6,448   1,335,897
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Materials-(continued)
Mosaic Co. (The)
  164,424   $2,214,791
Newmont Corp.
  61,858   4,280,574
Nucor Corp.
  112,907   4,736,449
O-I Glass, Inc.
  94,820   989,921
Olin Corp.
  72,653   816,620
Packaging Corp. of America
  20,581   1,978,246
PPG Industries, Inc.
  35,867   3,861,082
Reliance Steel & Aluminum Co.
  19,319   1,898,285
RPM International, Inc.
  17,842   1,455,729
Scotts Miracle-Gro Co. (The)
  5,153   817,111
Sealed Air Corp.
  36,033   1,285,657
Sherwin-Williams Co. (The)
  5,304   3,436,568
Silgan Holdings, Inc.
  17,839   682,342
Sonoco Products Co.
  24,527   1,269,027
Steel Dynamics, Inc.
  69,941   1,917,083
Summit Materials, Inc., Class A(b)
  26,953   396,748
Trinseo S.A.
  28,216   612,287
United States Steel Corp.(c)
  224,306   1,493,878
Vulcan Materials Co.
  12,538   1,472,212
Warrior Met Coal, Inc.
  55,654   886,012
Westlake Chemical Corp.
  10,036   546,962
Westrock Co.
  108,674   2,918,984
        147,208,648
Real Estate-3.00%
Alexander & Baldwin, Inc.
  27,609   326,338
Alexandria Real Estate Equities, Inc.
  9,962   1,768,753
American Campus Communities, Inc.
  24,965   889,753
American Homes 4 Rent, Class A
  26,944   781,376
American Tower Corp.
  20,837   5,446,583
Apartment Investment & Management Co., Class A
  19,070   740,297
Apple Hospitality REIT, Inc.
  84,360   744,055
AvalonBay Communities, Inc.
  15,492   2,372,135
Boston Properties, Inc.
  22,063   1,965,593
Brandywine Realty Trust
  43,598   472,166
Brixmor Property Group, Inc.
  74,104   852,937
Camden Property Trust
  11,336   1,029,422
CBRE Group, Inc., Class A(b)
  54,826   2,401,927
Colony Capital, Inc.
  246,556   473,388
Columbia Property Trust, Inc.
  36,478   436,277
CoreCivic, Inc.
  66,836   595,509
Corporate Office Properties Trust
  21,773   576,549
Cousins Properties, Inc.
  15,134   464,916
Crown Castle International Corp.
  35,713   5,953,357
CubeSmart
  23,476   696,533
CyrusOne, Inc.
  10,654   888,757
DiamondRock Hospitality Co.
  65,022   300,402
Digital Realty Trust, Inc.
  23,878   3,833,374
Diversified Healthcare Trust
  149,567   582,563
Douglas Emmett, Inc.
  19,489   567,909
Duke Realty Corp.
  41,064   1,650,362
EPR Properties
  12,993   371,990
Equinix, Inc.
  5,671   4,454,457
Equity LifeStyle Properties, Inc.
  10,099   689,964
Equity Residential
  47,076   2,524,686
Essex Property Trust, Inc.
  6,527   1,440,770
Extra Space Storage, Inc.
  12,058   1,246,074
Federal Realty Investment Trust
  9,087   693,338
Gaming and Leisure Properties, Inc.
  23,069   835,328
GEO Group, Inc. (The)
  58,922   626,341
Healthcare Realty Trust, Inc.
  17,565   514,654
Healthcare Trust of America, Inc., Class A
  28,088   775,510
  Shares   Value
Real Estate-(continued)
Healthpeak Properties, Inc.
  74,378   $2,029,776
Highwoods Properties, Inc.
  18,743   718,607
Host Hotels & Resorts, Inc.
  220,270   2,374,511
Howard Hughes Corp. (The)(b)
  5,497   292,385
Hudson Pacific Properties, Inc.
  22,870   539,046
Invitation Homes, Inc.
  53,453   1,593,968
Iron Mountain, Inc.(c)
  82,784   2,333,681
JBG SMITH Properties
  15,603   452,643
Jones Lang LaSalle, Inc.
  10,996   1,087,614
Kilroy Realty Corp.
  13,233   771,087
Kimco Realty Corp.
  90,218   1,005,931
Lamar Advertising Co., Class A
  12,705   835,100
Lexington Realty Trust
  50,833   589,663
Life Storage, Inc.
  6,286   616,845
Macerich Co. (The)(c)
  68,465   522,388
Medical Properties Trust, Inc.
  47,830   962,818
Mid-America Apartment Communities, Inc.
  13,340   1,589,995
National Retail Properties, Inc.
  17,140   607,613
Office Properties Income Trust
  15,957   401,319
Omega Healthcare Investors, Inc.
  28,636   927,234
Outfront Media, Inc.
  40,877   589,038
Paramount Group, Inc.
  54,042   385,319
Park Hotels & Resorts, Inc.
  77,288   639,172
Pebblebrook Hotel Trust
  32,845   348,157
Physicians Realty Trust
  26,204   472,720
Piedmont Office Realty Trust, Inc., Class A
  29,239   473,964
Prologis, Inc.
  54,617   5,757,724
Public Storage
  12,921   2,582,649
Rayonier, Inc.
  28,007   778,034
Realogy Holdings Corp.
  91,672   830,548
Realty Income Corp.
  26,840   1,611,742
Regency Centers Corp.
  25,089   1,029,402
Retail Properties of America, Inc., Class A
  66,120   420,523
RLJ Lodging Trust
  71,674   574,109
Ryman Hospitality Properties, Inc.
  6,966   223,051
Sabra Health Care REIT, Inc.
  33,815   498,433
SBA Communications Corp., Class A
  2,579   803,462
Service Properties Trust
  78,696   527,263
Simon Property Group, Inc.
  45,923   2,863,299
SITE Centers Corp.
  59,237   434,207
SL Green Realty Corp.
  20,764   965,526
Spirit Realty Capital, Inc.
  16,517   569,176
STORE Capital Corp.
  20,616   488,393
Sun Communities, Inc.
  6,202   929,866
Sunstone Hotel Investors, Inc.
  78,662   588,392
Taubman Centers, Inc.
  10,838   419,647
UDR, Inc.
  27,544   997,093
Uniti Group, Inc.
  92,308   913,849
Ventas, Inc.
  78,242   3,001,363
VEREIT, Inc.
  228,707   1,488,883
VICI Properties, Inc.
  50,905   1,105,148
Vornado Realty Trust
  31,699   1,094,249
Washington Prime Group, Inc.(c)
  305,580   224,265
Weingarten Realty Investors
  24,321   414,916
Welltower, Inc.
  70,351   3,768,000
Weyerhaeuser Co.
  151,174   4,204,149
WP Carey, Inc.
  20,346   1,452,094
Xenia Hotels & Resorts, Inc.
  36,232   288,407
        115,992,799
Utilities-4.35%
AES Corp. (The)
  195,394   2,975,851
ALLETE, Inc.
  10,542   625,141
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
Alliant Energy Corp.
  35,089   $1,889,543
Ameren Corp.
  43,152   3,462,516
American Electric Power Co., Inc.
  91,289   7,931,188
American Water Works Co., Inc.
  18,188   2,678,547
Atmos Energy Corp.
  15,458   1,638,393
Avangrid, Inc.
  12,155   605,197
Avista Corp.
  15,436   573,139
Black Hills Corp.
  10,173   588,610
CenterPoint Energy, Inc.
  147,765   2,809,013
CMS Energy Corp.
  45,215   2,901,899
Consolidated Edison, Inc.
  80,082   6,152,700
Dominion Energy, Inc.
  120,569   9,769,706
DTE Energy Co.
  36,467   4,216,679
Duke Energy Corp.
  178,581   15,132,954
Edison International
  74,010   4,120,137
Entergy Corp.
  38,475   4,044,877
Essential Utilities, Inc.
  16,662   755,622
Evergy, Inc.
  46,304   3,001,888
Eversource Energy
  50,828   4,578,078
Exelon Corp.
  285,089   11,007,286
FirstEnergy Corp.
  108,574   3,148,646
Hawaiian Electric Industries, Inc.
  22,508   816,140
IDACORP, Inc.
  7,937   740,125
MDU Resources Group, Inc.
  42,753   896,958
National Fuel Gas Co.
  21,273   863,046
New Jersey Resources Corp.
  16,642   516,900
NextEra Energy, Inc.
  51,094   14,342,086
NiSource, Inc.
  71,028   1,736,635
NorthWestern Corp.
  9,962   560,462
NRG Energy, Inc.
  44,085   1,490,514
OGE Energy Corp.
  38,047   1,251,746
ONE Gas, Inc.
  8,173   618,696
PG&E Corp.(b)
  356,699   3,335,136
Pinnacle West Capital Corp.
  23,692   1,968,331
PNM Resources, Inc.
  12,959   547,259
Portland General Electric Co.
  17,661   779,380
PPL Corp.
  191,266   5,091,501
Public Service Enterprise Group, Inc.
  112,546   6,295,823
Sempra Energy
  41,217   5,129,868
  Shares   Value
Utilities-(continued)
South Jersey Industries, Inc.
  17,347   $404,705
Southern Co. (The)
  202,855   11,077,911
Southwest Gas Holdings, Inc.
  13,112   913,120
Spire, Inc.
  9,703   598,287
UGI Corp.
  52,933   1,764,786
Vistra Corp.
  115,571   2,156,555
WEC Energy Group, Inc.
  42,251   4,024,830
Xcel Energy, Inc.
  85,878   5,929,017
        168,457,427
Total Common Stocks & Other Equity Interests

(Cost $3,703,784,915)
  3,873,545,557
Money Market Funds-0.04%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $1,424,845)
  1,424,845   1,424,845
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.05%

(Cost $3,705,209,760)
  3,874,970,402
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.60%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  17,606,295   17,606,295
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  5,867,592   5,868,765
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $23,474,797)
  23,475,060
TOTAL INVESTMENTS IN SECURITIES-100.65%

(Cost $3,728,684,557)
  3,898,445,462
OTHER ASSETS LESS LIABILITIES-(0.65)%
  (25,314,699)
NET ASSETS-100.00%
  $3,873,130,763
 
Investment Abbreviations:
REIT -Real Estate Investment Trust
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
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Invesco Ltd. $1,635,550   $8,830   $(215,369)   $470,628   $(199,405)   $1,700,234   $29,295
Invesco Mortgage Capital, Inc. 113,471   16,871   (16,010)   37,246   (38,501)   113,077   19,028
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1000 ETF (PRF)—(continued)
July 31, 2020
(Unaudited)
  Value
April 30, 2020 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $2,516,296   $40,262,720   $(41,354,171)   $-   $-   $1,424,845   $1,208
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 32,953,152   45,680,118   (61,026,975)   -   -   17,606,295   2,217
Invesco Private Prime Fund -   14,443,191   (8,575,223)   263   534   5,868,765   1,134
Total $37,218,469   $100,411,730   $(111,187,748)   $508,137   $(237,372)   $26,713,216   $52,882
    
(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 FTSE RAFI US 1500 Small-Mid ETF (PRFZ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.99%
Communication Services-3.94%
ANGI Homeservices, Inc., Class A(b)(c)
  32,496   $513,112
ATN International, Inc.
  15,564   896,953
Bandwidth, Inc., Class A(b)
  2,554   369,768
Boingo Wireless, Inc.(b)
  26,660   385,237
Boston Omaha Corp., Class A(b)
  6,729   106,991
Cable One, Inc.
  1,262   2,300,071
Cargurus, Inc.(b)
  11,283   325,966
Cars.com, Inc.(b)(c)
  227,773   1,849,517
Central European Media Enterprises Ltd., Class A (Czech Republic)(b)
  140,613   559,640
Cincinnati Bell, Inc.(b)
  165,894   2,490,069
Clear Channel Outdoor Holdings, Inc.(b)
  338,569   310,298
Cogent Communications Holdings, Inc.
  22,038   1,985,844
comScore, Inc.(b)
  147,152   441,456
Consolidated Communications Holdings, Inc.(b)
  318,296   2,323,561
Cumulus Media, Inc., Class A(b)(c)
  46,372   182,242
DHI Group, Inc.(b)
  84,786   211,965
E.W. Scripps Co. (The), Class A
  95,087   1,082,090
Emerald Holding, Inc.
  41,460   112,771
Entercom Communications Corp., Class A
  323,933   453,506
Entravision Communications Corp., Class A
  148,804   196,421
Eros International PLC (India)(b)(c)
  223,213   633,925
Eventbrite, Inc., Class A(b)(c)
  11,261   95,944
Fluent, Inc.(b)
  56,533   102,890
Gannett Co., Inc.
  408,671   604,833
Glu Mobile, Inc.(b)
  35,403   334,204
Gogo, Inc.(b)(c)
  92,754   269,914
Gray Television, Inc.(b)
  129,461   1,856,471
IDT Corp., Class B(b)
  56,217   365,973
iHeartMedia, Inc., Class A(b)(c)
  172,899   1,445,436
IMAX Corp.(b)
  57,435   648,441
Iridium Communications, Inc.(b)
  67,356   1,844,881
Liberty Media Corp.-Liberty Braves, Class A(b)
  4,110   77,720
Liberty Media Corp.-Liberty Braves, Class C(b)
  16,657   310,653
Liberty TripAdvisor Holdings, Inc., Class A(b)
  239,931   595,029
Madison Square Garden Entertainment Corp.(b)
  10,548   747,431
Madison Square Garden Sports Corp., Class A(b)
  9,522   1,463,436
Marcus Corp. (The)
  29,632   409,218
Match Group, Inc.(b)
  6,834   701,852
MDC Partners, Inc., Class A(b)
  112,548   248,731
Meet Group, Inc. (The)(b)
  36,636   228,242
MSG Networks, Inc., Class A(b)
  67,432   642,627
National CineMedia, Inc.
  156,249   385,935
New York Times Co. (The), Class A
  59,997   2,768,262
ORBCOMM, Inc.(b)
  110,591   465,588
QuinStreet, Inc.(b)
  19,754   230,628
Roku, Inc.(b)
  3,399   526,471
Scholastic Corp.
  59,637   1,427,113
Shenandoah Telecommunications Co.
  25,773   1,295,609
Sirius XM Holdings, Inc.
  393,217   2,312,116
Snap, Inc., Class A(b)
  72,893   1,634,261
Spok Holdings, Inc.
  33,509   335,760
TechTarget, Inc.(b)
  8,094   293,731
Tribune Publishing Co.
  44,105   430,024
TripAdvisor, Inc.
  102,555   2,074,688
TrueCar, Inc.(b)
  150,789   566,967
United States Cellular Corp.(b)
  50,475   1,497,593
Vonage Holdings Corp.(b)
  150,260   1,795,607
WideOpenWest, Inc.(b)
  94,095   513,759
World Wrestling Entertainment, Inc., Class A
  15,999   745,713
Yelp, Inc.(b)
  51,179   1,278,451
  Shares   Value
Communication Services-(continued)
Zillow Group, Inc., Class A(b)
  16,267   $1,107,620
Zillow Group, Inc., Class C(b)
  36,327   2,484,404
Zynga, Inc., Class A(b)
  254,737   2,504,065
        57,399,694
Consumer Discretionary-14.68%
1-800-Flowers.com, Inc., Class A(b)
  26,953   761,422
Acushnet Holdings Corp.
  38,045   1,447,612
Adtalem Global Education, Inc.(b)
  81,300   2,791,842
American Public Education, Inc.(b)
  29,697   864,480
America’s Car-Mart, Inc.(b)
  4,657   443,160
Ascena Retail Group, Inc.(b)(c)
  154,124   110,815
At Home Group, Inc.(b)(c)
  187,095   2,323,720
Barnes & Noble Education, Inc.(b)
  222,732   472,192
Bassett Furniture Industries, Inc.
  32,968   289,129
BBX Capital Corp.
  16,544   230,292
Beazer Homes USA, Inc.(b)
  126,612   1,416,788
Big 5 Sporting Goods Corp.(c)
  118,819   665,386
Biglari Holdings, Inc., Class A(b)
  301   95,179
Biglari Holdings, Inc., Class B(b)
  2,856   185,440
BJ’s Restaurants, Inc.
  28,613   573,977
Blue Apron Holdings, Inc., Class A(b)(c)
  65,613   785,388
Boot Barn Holdings, Inc.(b)
  28,433   550,463
Boyd Gaming Corp.
  84,804   2,007,311
Bright Horizons Family Solutions, Inc.(b)
  17,307   1,856,003
Buckle, Inc. (The)(c)
  78,392   1,256,624
Build-A-Bear Workshop, Inc.(b)
  88,035   207,763
Caesars Entertainment, Inc.(b)
  33,107   1,027,972
Caleres, Inc.
  186,808   1,178,758
Callaway Golf Co.
  72,638   1,383,754
Camping World Holdings, Inc., Class A(c)
  67,356   2,466,577
Carriage Services, Inc.
  22,161   489,980
Carrols Restaurant Group, Inc.(b)
  143,077   878,493
Carvana Co.(b)(c)
  1,555   240,947
Cato Corp. (The), Class A
  74,897   538,509
Cavco Industries, Inc.(b)
  5,290   1,059,746
Century Casinos, Inc.(b)
  35,462   142,912
Century Communities, Inc.(b)
  42,267   1,505,551
Cheesecake Factory, Inc. (The)(c)
  64,484   1,547,616
Chegg, Inc.(b)
  14,319   1,159,409
Chewy, Inc., Class A(b)
  6,366   334,151
Chico’s FAS, Inc.
  680,780   864,591
Children’s Place, Inc. (The)(c)
  30,504   744,603
Choice Hotels International, Inc.
  11,829   994,109
Churchill Downs, Inc.
  10,328   1,430,635
Chuy’s Holdings, Inc.(b)
  21,497   342,017
Citi Trends, Inc.
  27,213   468,608
Clarus Corp.
  15,634   187,295
Collectors Universe, Inc.
  10,185   387,641
Columbia Sportswear Co.
  20,295   1,539,173
Conn’s, Inc.(b)(c)
  149,088   1,484,916
Container Store Group, Inc. (The)(b)(c)
  86,983   300,091
Crocs, Inc.(b)
  28,263   1,015,772
Culp, Inc.
  28,166   312,643
Dave & Buster’s Entertainment, Inc.(c)
  33,097   408,417
Del Taco Restaurants, Inc.(b)
  96,589   738,906
Denny’s Corp.(b)
  33,990   302,001
Despegar.com Corp. (Argentina)(b)
  31,825   245,371
Dillard’s, Inc., Class A(c)
  46,824   1,102,705
Dine Brands Global, Inc.
  16,702   758,772
Dorman Products, Inc.(b)
  24,014   1,963,145
Drive Shack, Inc.(b)(c)
  229,153   410,184
Duluth Holdings, Inc., Class B(b)
  24,785   183,161
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
El Pollo Loco Holdings, Inc.(b)
  25,392   $501,746
Ethan Allen Interiors, Inc.
  75,288   891,410
Etsy, Inc.(b)
  15,066   1,783,513
Everi Holdings, Inc.(b)
  58,093   329,968
Express, Inc.(b)
  652,481   659,006
Farfetch Ltd., Class A (United Kingdom)(b)(c)
  47,517   1,217,861
Fiesta Restaurant Group, Inc.(b)
  73,965   479,293
Five Below, Inc.(b)
  16,809   1,830,668
Flexsteel Industries, Inc.
  19,621   309,423
Floor & Decor Holdings, Inc., Class A(b)
  21,240   1,399,716
Fossil Group, Inc.(b)(c)
  586,468   1,941,209
Fox Factory Holding Corp.(b)
  12,021   1,069,869
Francesca’s Holdings Corp.(b)(c)
  77,565   430,486
frontdoor, Inc.(b)
  34,731   1,458,528
Funko, Inc., Class A(b)(c)
  37,912   210,032
Genesco, Inc.(b)
  87,199   1,355,944
Gentherm, Inc.(b)
  34,716   1,345,939
Golden Entertainment, Inc.(b)
  23,752   203,080
GoPro, Inc., Class A(b)
  227,712   1,204,596
Grand Canyon Education, Inc.(b)
  33,757   2,995,596
Green Brick Partners, Inc.(b)
  34,586   477,287
Groupon, Inc.(b)
  70,233   1,078,077
Grubhub, Inc.(b)
  39,219   2,833,181
Guess?, Inc.
  123,480   1,276,783
Hamilton Beach Brands Holding Co., Class A
  24,127   366,730
Haverty Furniture Cos., Inc.
  75,532   1,074,065
Helen of Troy Ltd.(b)
  14,806   2,787,230
Hibbett Sports, Inc.(b)
  59,278   1,374,657
Hilton Grand Vacations, Inc.(b)
  102,791   2,086,657
Hooker Furniture Corp.
  28,604   612,126
Houghton Mifflin Harcourt Co.(b)
  306,789   908,095
Hovnanian Enterprises, Inc., Class A(b)(c)
  51,009   1,188,510
Hudson Ltd., Class A(b)
  80,169   351,140
Hyatt Hotels Corp., Class A
  28,408   1,363,584
Installed Building Products, Inc.(b)
  11,331   896,395
iRobot Corp.(b)(c)
  27,327   1,986,400
J. Jill, Inc.(b)(c)
  318,038   181,791
Jack in the Box, Inc.
  23,677   1,944,118
Johnson Outdoors, Inc., Class A
  4,608   403,476
K12, Inc.(b)
  91,273   4,179,391
Kirkland’s, Inc.(b)(c)
  259,373   1,395,427
Lands’ End, Inc.(b)(c)
  43,252   372,832
La-Z-Boy, Inc.
  61,873   1,760,906
LCI Industries
  25,602   3,220,732
LGI Homes, Inc.(b)
  15,831   1,806,475
Lindblad Expeditions Holdings, Inc.(b)
  13,786   99,949
Liquidity Services, Inc.(b)
  42,456   218,648
Lumber Liquidators Holdings, Inc.(b)(c)
  94,578   2,110,981
M.D.C. Holdings, Inc.
  62,832   2,816,759
M/I Homes, Inc.(b)
  56,321   2,344,643
Magnite, Inc.(b)
  38,496   231,168
MakeMyTrip Ltd. (India)(b)
  26,265   408,946
Malibu Boats, Inc., Class A(b)
  10,160   597,205
MarineMax, Inc.(b)
  54,826   1,520,873
MasterCraft Boat Holdings, Inc.(b)
  26,929   557,430
MercadoLibre, Inc. (Argentina)(b)
  1,865   2,097,416
Modine Manufacturing Co.(b)
  145,749   792,875
Monarch Casino & Resort, Inc.(b)
  7,158   259,048
Monro, Inc.
  30,121   1,695,812
Motorcar Parts of America, Inc.(b)
  37,476   623,788
Movado Group, Inc.
  46,995   453,032
National Vision Holdings, Inc.(b)
  57,175   1,829,028
  Shares   Value
Consumer Discretionary-(continued)
Nautilus, Inc.(b)
  178,983   $1,866,793
New Home Co., Inc. (The)(b)
  41,749   144,452
Noodles & Co.(b)
  28,278   196,532
Ollie’s Bargain Outlet Holdings, Inc.(b)
  29,127   3,061,248
Overstock.com, Inc.(b)(c)
  95,232   7,198,587
Oxford Industries, Inc.
  22,536   967,696
Papa John’s International, Inc.
  17,643   1,670,263
Party City Holdco, Inc.(b)
  821,502   1,347,263
Perdoceo Education Corp.(b)
  46,917   675,605
PetMed Express, Inc.(c)
  20,199   630,209
Planet Fitness, Inc., Class A(b)
  9,375   489,375
Playa Hotels & Resorts N.V.(b)
  100,445   364,615
PlayAGS, Inc.(b)
  34,553   116,789
Pool Corp.
  13,443   4,257,398
Potbelly Corp.(b)
  69,597   243,590
Quotient Technology, Inc.(b)
  47,161   377,760
RCI Hospitality Holdings, Inc.
  9,668   116,789
Red Lion Hotels Corp.(b)(c)
  72,106   169,449
Red Robin Gourmet Burgers, Inc.(b)(c)
  47,113   411,768
Red Rock Resorts, Inc., Class A
  67,235   736,896
Regis Corp.(b)
  70,656   542,638
Rent-A-Center, Inc.
  73,741   2,132,590
RH(b)(c)
  9,814   2,820,838
Rocky Brands, Inc.
  12,786   290,882
Ruth’s Hospitality Group, Inc.
  26,730   178,957
Scientific Games Corp.(b)
  113,763   1,998,816
SeaWorld Entertainment, Inc.(b)
  39,814   576,109
Select Interior Concepts, Inc., Class A(b)
  49,271   230,588
Shake Shack, Inc., Class A(b)(c)
  5,611   272,414
Shoe Carnival, Inc.(c)
  18,333   450,075
Shutterstock, Inc.
  11,016   598,609
Skyline Champion Corp.(b)
  20,587   581,171
Sleep Number Corp.(b)
  26,935   1,252,478
Smith & Wesson Brands, Inc.(b)
  136,118   3,251,859
Sonos, Inc.(b)
  51,565   825,040
Sportsman’s Warehouse Holdings, Inc.(b)
  135,676   2,183,027
Stamps.com, Inc.(b)
  7,745   2,015,869
Standard Motor Products, Inc.
  28,776   1,308,732
Steven Madden Ltd.
  55,405   1,173,478
Stitch Fix, Inc., Class A(b)(c)
  13,063   289,345
Stoneridge, Inc.(b)
  33,378   691,592
Strategic Education, Inc.
  9,090   1,147,249
Sturm Ruger & Co., Inc.
  22,038   1,793,232
Superior Industries International, Inc.
  147,126   220,689
Tailored Brands, Inc.(c)
  631,388   191,374
Tempur Sealy International, Inc.(b)
  36,307   2,939,052
Texas Roadhouse, Inc.
  45,418   2,552,037
Tilly’s, Inc., Class A
  73,672   442,769
TopBuild Corp.(b)
  22,785   3,005,797
Town Sports International Holdings, Inc.(b)
  112,592   47,840
Turtle Beach Corp.(b)
  21,425   392,935
Twin River Worldwide Holdings, Inc.
  19,554   421,584
Unifi, Inc.(b)
  34,488   412,476
Universal Electronics, Inc.(b)
  17,086   787,152
Veoneer, Inc. (Sweden)(b)(c)
  230,007   2,311,570
Vera Bradley, Inc.(b)
  53,180   233,194
Vista Outdoor, Inc.(b)
  224,740   3,854,291
Wayfair, Inc., Class A(b)(c)
  22,478   5,981,171
Wendy’s Co. (The)
  126,306   2,927,773
Weyco Group, Inc.
  8,533   157,178
Wingstop, Inc.
  6,503   1,016,094
Winnebago Industries, Inc.
  23,331   1,409,426
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
Wolverine World Wide, Inc.
  99,331   $2,387,917
WW International, Inc.(b)
  40,739   1,050,251
Wyndham Hotels & Resorts, Inc.
  52,866   2,334,563
YETI Holdings, Inc.(b)
  11,960   584,724
ZAGG, Inc.(b)(c)
  69,099   196,932
Zumiez, Inc.(b)
  31,998   739,154
        213,922,274
Consumer Staples-3.35%
Adecoagro S.A. (Brazil)(b)
  149,471   624,789
Andersons, Inc. (The)
  150,771   2,143,964
Boston Beer Co., Inc. (The), Class A(b)
  3,011   2,440,235
Calavo Growers, Inc.
  12,516   723,049
Cal-Maine Foods, Inc.(b)
  46,924   2,062,075
Central Garden & Pet Co., Class A(b)
  73,511   2,547,156
Chefs’ Warehouse, Inc. (The)(b)
  30,216   348,390
Coca-Cola Consolidated, Inc.
  5,023   1,153,080
Craft Brew Alliance, Inc.(b)(c)
  12,082   178,934
elf Beauty, Inc.(b)
  15,844   282,974
Energizer Holdings, Inc.
  43,452   2,178,249
Farmer Brothers Co.(b)
  32,231   160,510
Fresh Del Monte Produce, Inc.
  96,334   2,175,222
Freshpet, Inc.(b)
  2,900   278,545
Grocery Outlet Holding Corp.(b)
  23,705   1,042,783
Herbalife Nutrition Ltd.(b)(c)
  83,442   4,275,568
Hostess Brands, Inc.(b)
  140,811   1,785,483
Ingles Markets, Inc., Class A
  55,012   2,214,233
Inter Parfums, Inc.
  9,918   405,547
J&J Snack Foods Corp.
  8,841   1,088,592
John B. Sanfilippo & Son, Inc.
  12,078   1,064,917
Lancaster Colony Corp.
  13,074   2,073,406
Landec Corp.(b)
  50,424   476,003
Lifevantage Corp.(b)
  14,488   186,026
Limoneira Co.
  12,826   172,894
Medifast, Inc.
  5,106   853,366
MGP Ingredients, Inc.
  12,502   453,448
National Beverage Corp.(b)(c)
  13,824   886,810
Natural Grocers by Vitamin Cottage, Inc.
  40,093   634,672
New Age Beverages Corp.(b)(c)
  61,098   138,692
Pilgrim’s Pride Corp.(b)
  112,819   1,731,772
PriceSmart, Inc.
  35,512   2,321,419
Revlon, Inc., Class A(b)(c)
  17,415   110,063
Seneca Foods Corp., Class A(b)
  9,903   388,000
Simply Good Foods Co. (The)(b)
  29,659   713,002
SpartanNash Co.
  158,459   3,331,600
Tootsie Roll Industries, Inc.(c)
  10,625   336,813
Turning Point Brands, Inc.
  7,664   251,992
USANA Health Sciences, Inc.(b)
  14,109   1,145,369
Village Super Market, Inc., Class A
  33,650   849,663
WD-40 Co.
  5,175   1,017,146
Weis Markets, Inc.
  30,668   1,527,880
        48,774,331
Energy-4.42%
Abraxas Petroleum Corp.(b)
  1,057,131   213,540
Amplify Energy Corp.(c)
  45,942   56,049
Antero Midstream Corp.(c)
  36,538   207,170
Arch Resources, Inc.
  36,149   1,121,342
Archrock, Inc.
  245,315   1,633,798
Ardmore Shipping Corp. (Ireland)
  103,497   425,373
Berry Corp.
  113,422   533,650
Bonanza Creek Energy, Inc.(b)
  51,391   934,802
Bristow Group, Inc.(b)
  17,123   274,139
  Shares   Value
Energy-(continued)
Cactus, Inc., Class A
  19,182   $433,897
Callon Petroleum Co.(b)(c)
  1,122,500   1,279,650
Centennial Resource Development, Inc., Class A(b)
  1,054,755   830,409
ChampionX Corp.(b)
  102,365   973,491
Chaparral Energy, Inc., Class A(b)
  222,981   86,762
Clean Energy Fuels Corp.(b)
  174,125   414,417
CONSOL Energy, Inc.(b)
  363,440   2,137,027
Core Laboratories N.V.(c)
  84,162   1,795,175
CVR Energy, Inc.
  82,984   1,593,293
Denbury Resources, Inc.(b)
  2,222,984   56,686
DHT Holdings, Inc.
  198,679   1,128,497
Diamond S Shipping, Inc.(b)
  106,066   931,259
DMC Global, Inc.
  5,853   171,961
Dorian LPG Ltd.(b)
  56,114   479,214
Dril-Quip, Inc.(b)
  50,946   1,695,992
Equitrans Midstream Corp.
  297,347   2,869,399
Evolution Petroleum Corp.
  36,480   95,578
Exterran Corp.(b)
  101,738   505,638
Forum Energy Technologies, Inc.(b)
  572,866   286,777
Frank’s International N.V.(b)
  307,821   701,832
FTS International, Inc.(b)
  9,653   57,339
GasLog Ltd. (Monaco)
  199,901   583,711
Geopark Ltd. (Colombia)(c)
  36,489   357,592
Geospace Technologies Corp.(b)
  15,821   119,449
Golar LNG Ltd. (Bermuda)(c)
  184,635   1,384,762
Green Plains, Inc.(b)
  234,395   3,030,727
Gulf Island Fabrication, Inc.(b)
  37,725   111,666
Helix Energy Solutions Group, Inc.(b)
  294,676   1,234,692
HighPoint Resources Corp.(b)
  680,207   245,827
International Seaways, Inc.
  80,605   1,392,048
ION Geophysical Corp.(b)(c)
  41,439   113,957
KLX Energy Services Holdings, Inc.(b)(c)
  31,584   315,840
Kosmos Energy Ltd. (Ghana)
  495,387   797,573
Laredo Petroleum, Inc.(b)
  45,937   696,405
Liberty Oilfield Services, Inc., Class A
  119,631   675,915
Magnolia Oil & Gas Corp., Class A(b)
  153,961   920,687
Mammoth Energy Services, Inc.(b)
  232,056   322,558
Matador Resources Co.(b)(c)
  176,248   1,529,833
Matrix Service Co.(b)
  88,776   777,234
Montage Resources Corp.(b)
  144,730   620,892
NACCO Industries, Inc., Class A
  5,106   111,515
National Energy Services Reunited Corp.(b)
  39,219   262,375
Natural Gas Services Group, Inc.(b)
  36,947   235,722
Navigator Holdings Ltd.(b)
  74,844   571,808
Navios Maritime Acquisition Corp. (Greece)
  106,128   488,189
Newpark Resources, Inc.(b)
  353,508   668,130
NexTier Oilfield Solutions, Inc.(b)
  220,819   556,464
Nine Energy Service, Inc.(b)(c)
  105,204   195,679
Noble Corp. PLC(b)(d)
  2,848,920   292,014
Nordic American Tankers Ltd.(c)
  641,746   2,919,944
Northern Oil and Gas, Inc.(b)
  303,199   243,014
Oil States International, Inc.(b)
  296,934   1,330,264
Overseas Shipholding Group, Inc., Class A(b)
  208,351   481,291
Pacific Ethanol, Inc.(b)(c)
  302,111   709,961
Par Pacific Holdings, Inc.(b)
  91,758   679,927
Penn Virginia Corp.(b)(c)
  36,830   364,985
ProPetro Holding Corp.(b)
  148,868   799,421
Renewable Energy Group, Inc.(b)
  73,577   2,029,254
REX American Resources Corp.(b)
  11,502   783,861
Ring Energy, Inc.(b)(c)
  243,521   267,873
RPC, Inc.(b)(c)
  219,678   652,444
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Energy-(continued)
SandRidge Energy, Inc.(b)
  175,971   $228,762
Scorpio Tankers, Inc. (Monaco)
  121,067   1,600,506
SEACOR Holdings, Inc.(b)
  32,844   955,103
Select Energy Services, Inc., Class A(b)
  115,033   510,747
SFL Corp. Ltd. (Norway)
  198,019   1,645,538
SilverBow Resources, Inc.(b)(c)
  47,187   168,458
Smart Sand, Inc.(b)(c)
  105,204   123,089
Solaris Oilfield Infrastructure, Inc., Class A
  18,072   131,203
Talos Energy, Inc.(b)
  29,060   197,899
Teekay Corp. (Bermuda)(b)
  430,398   1,024,347
Teekay Tankers Ltd., Class A (Bermuda)(b)
  97,246   1,455,773
TETRA Technologies, Inc.(b)
  457,041   307,634
Tidewater, Inc.(b)
  92,754   576,930
US Silica Holdings, Inc.(c)
  363,716   1,283,917
VAALCO Energy, Inc.(b)
  75,391   86,700
W&T Offshore, Inc.(b)(c)
  124,629   281,662
        64,377,927
Financials-15.89%
1st Source Corp.
  16,025   530,748
AG Mortgage Investment Trust, Inc.(c)
  68,352   190,702
Allegiance Bancshares, Inc.
  21,789   531,434
Altabancorp
  13,605   255,094
Amalgamated Bank, Class A
  16,862   194,756
Ambac Financial Group, Inc.(b)
  127,308   1,629,542
Amerant Bancorp, Inc.(b)
  23,034   307,504
American National Group, Inc.
  18,490   1,361,788
Ameris Bancorp
  37,162   857,513
AMERISAFE, Inc.
  24,294   1,541,697
Anworth Mortgage Asset Corp.
  272,971   494,078
Apollo Commercial Real Estate Finance, Inc.
  172,623   1,605,394
Arbor Realty Trust, Inc.(c)
  71,614   729,747
Ares Commercial Real Estate Corp.
  42,777   390,554
Ares Management Corp., Class A
  22,740   908,236
Argo Group International Holdings Ltd.
  46,591   1,561,264
Arlington Asset Investment Corp., Class A
  66,360   180,499
ARMOUR Residential REIT, Inc.
  52,228   487,810
Artisan Partners Asset Management, Inc., Class A
  65,566   2,375,456
Atlantic Capital Bancshares, Inc.(b)
  20,544   205,440
Atlantic Union Bankshares Corp.
  75,051   1,693,901
Axos Financial, Inc.(b)
  64,397   1,443,137
B. Riley Financial, Inc.
  15,369   392,063
Banc of California, Inc.
  65,989   707,402
BancFirst Corp.
  15,745   685,852
Banco Latinoamericano de Comercio Exterior S.A., Class E (Panama)
  49,914   582,496
Bancorp, Inc. (The)(b)
  45,852   432,384
BancorpSouth Bank
  111,479   2,333,255
Bank of Marin Bancorp
  10,706   336,275
Bank of NT Butterfield & Son Ltd. (The) (Bermuda)
  63,976   1,665,295
BankFinancial Corp.
  13,133   95,740
Banner Corp.
  41,908   1,484,800
Benefytt Technologies, Inc.(b)(c)
  7,179   221,975
Berkshire Hills Bancorp, Inc.
  65,364   651,025
BGC Partners, Inc., Class A
  403,454   1,117,568
Blucora, Inc.(b)
  49,428   582,756
Boston Private Financial Holdings, Inc.
  139,916   823,406
Bridge Bancorp, Inc.
  20,144   364,405
Bridgewater Bancshares, Inc.(b)
  21,609   200,748
Brightsphere Investment Group, Inc.
  94,995   1,276,733
Brookline Bancorp, Inc.
  96,289   923,893
  Shares   Value
Financials-(continued)
Bryn Mawr Bank Corp.
  23,270   $605,951
Byline Bancorp, Inc.
  27,286   353,627
Cadence BanCorp
  136,702   1,067,643
Camden National Corp.
  16,075   509,417
Cannae Holdings, Inc.(b)
  40,669   1,532,408
Capitol Federal Financial, Inc.
  191,116   1,844,269
Capstar Financial Holdings, Inc.
  17,490   177,523
Capstead Mortgage Corp.
  254,206   1,563,367
CBTX, Inc.
  15,817   249,750
Central Pacific Financial Corp.
  35,338   549,859
Century Bancorp, Inc., Class A
  2,463   171,523
Cherry Hill Mortgage Investment Corp.
  31,982   295,194
City Holding Co.
  15,315   956,575
Civista Bancshares, Inc.
  14,508   190,490
CNA Financial Corp.
  64,465   2,146,684
Cohen & Steers, Inc.
  13,951   839,571
Colony Credit Real Estate, Inc.
  160,298   1,009,877
Columbia Financial, Inc.(b)
  32,386   389,604
Community Bank System, Inc.
  42,207   2,373,300
Community Trust Bancorp, Inc.
  20,598   630,505
ConnectOne Bancorp, Inc.
  30,833   425,187
Cowen, Inc., Class A
  73,834   1,216,046
Credit Acceptance Corp.(b)(c)
  5,825   2,725,750
Curo Group Holdings Corp.
  37,239   260,301
Customers Bancorp, Inc.(b)
  56,755   672,547
CVB Financial Corp.
  128,780   2,327,055
Diamond Hill Investment Group, Inc.
  4,857   553,844
Dime Community Bancshares, Inc.
  52,042   611,233
Donnelley Financial Solutions, Inc.(b)
  127,690   1,104,518
Dynex Capital, Inc.
  47,168   728,746
Eagle Bancorp, Inc.
  39,529   1,189,032
eHealth, Inc.(b)
  3,363   232,518
Elevate Credit, Inc.(b)
  87,791   169,437
Ellington Residential Mortgage REIT
  18,988   209,817
Employers Holdings, Inc.
  39,825   1,295,109
Encore Capital Group, Inc.(b)(c)
  63,609   2,323,637
Enova International, Inc.(b)
  69,597   1,119,816
Enstar Group Ltd. (Bermuda)(b)
  12,860   2,159,837
Enterprise Financial Services Corp.
  18,227   529,677
Equity Bancshares, Inc., Class A(b)
  20,533   290,337
Erie Indemnity Co., Class A
  13,821   2,904,069
Evercore, Inc., Class A
  40,962   2,265,199
Exantas Capital Corp.(c)
  83,292   185,741
EZCORP, Inc., Class A(b)
  269,046   1,538,943
FB Financial Corp.
  17,721   450,291
FBL Financial Group, Inc., Class A
  11,159   388,110
Federal Agricultural Mortgage Corp., Class C
  13,645   812,014
FedNat Holding Co.
  23,532   220,260
Financial Institutions, Inc.
  17,505   258,549
First Bancorp
  283,460   1,542,022
First Bancorp/Southern Pines NC
  25,773   532,470
First Bancshares, Inc. (The)
  9,228   183,729
First Busey Corp.
  55,988   957,395
First Business Financial Services, Inc.
  7,909   117,607
First Commonwealth Financial Corp.
  118,358   931,477
First Financial Bancorp
  118,168   1,644,308
First Financial Bankshares, Inc.
  56,461   1,689,313
First Financial Corp.
  17,556   586,897
First Foundation, Inc.
  41,791   642,328
First Internet Bancorp
  11,337   166,087
First Interstate BancSystem, Inc., Class A
  38,744   1,127,838
First Merchants Corp.
  45,693   1,116,280
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
First Midwest Bancorp, Inc.
  135,004   $1,638,274
First of Long Island Corp. (The)
  22,785   339,724
FirstCash, Inc.
  28,588   1,647,812
Flagstar Bancorp, Inc.
  51,485   1,615,599
Flushing Financial Corp.
  47,115   522,034
Focus Financial Partners, Inc., Class A(b)
  16,809   621,093
Franklin Financial Network, Inc.
  14,366   379,262
FS Bancorp, Inc.
  4,205   159,790
German American Bancorp, Inc.
  19,548   555,945
Glacier Bancorp, Inc.
  72,897   2,573,993
Granite Point Mortgage Trust, Inc.
  61,186   415,453
Great Ajax Corp.
  35,423   305,346
Great Southern Bancorp, Inc.
  13,212   476,557
Great Western Bancorp, Inc.
  89,502   1,163,526
Green Dot Corp., Class A(b)
  48,471   2,456,995
Greenhill & Co., Inc.
  51,708   619,462
Greenlight Capital Re Ltd., Class A(b)
  58,346   376,915
Guaranty Bancshares, Inc.
  7,596   205,852
Hallmark Financial Services, Inc.(b)
  23,798   67,586
Hamilton Lane, Inc., Class A
  2,865   206,968
Hanmi Financial Corp.
  61,649   569,020
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
  26,015   911,305
HarborOne Bancorp, Inc.
  19,539   169,208
HCI Group, Inc.
  10,936   487,964
Heartland Financial USA, Inc.
  33,440   1,044,666
Heritage Commerce Corp.
  49,479   335,468
Heritage Financial Corp.
  42,098   796,284
Heritage Insurance Holdings, Inc.
  56,400   669,468
Hilltop Holdings, Inc.
  99,676   1,940,692
Hingham Institution for Savings (The)
  1,174   206,624
Home Bancorp, Inc.
  7,858   183,720
HomeStreet, Inc.
  29,791   787,674
HomeTrust Bancshares, Inc.
  17,353   250,230
Hope Bancorp, Inc.
  206,859   1,743,821
Horace Mann Educators Corp.
  57,059   2,144,277
Horizon Bancorp, Inc.
  33,508   338,766
Houlihan Lokey, Inc.
  24,522   1,343,806
Independent Bank Corp.
  23,781   1,534,350
Independent Bank Corp.
  23,485   327,968
Independent Bank Group, Inc.
  26,702   1,173,019
Interactive Brokers Group, Inc., Class A
  15,098   748,861
International Bancshares Corp.
  68,733   2,090,858
Investors Title Co.
  1,591   183,092
James River Group Holdings Ltd.
  49,002   2,269,773
Kearny Financial Corp.
  87,588   704,208
Kingstone Cos., Inc.
  20,457   110,468
Kinsale Capital Group, Inc.
  2,878   560,922
KKR Real Estate Finance Trust, Inc.
  28,233   470,079
Ladder Capital Corp.
  147,170   1,143,511
Lakeland Bancorp, Inc.
  58,168   592,150
Lakeland Financial Corp.
  21,369   945,792
LendingClub Corp.(b)
  93,048   485,711
LendingTree, Inc.(b)(c)
  1,372   475,110
Live Oak Bancshares, Inc.
  28,947   492,388
MarketAxess Holdings, Inc.
  5,106   2,638,270
MBIA, Inc.(b)(c)
  218,951   1,753,797
Mercantile Bank Corp.
  21,368   454,925
Merchants Bancorp
  8,551   157,595
Mercury General Corp.
  54,062   2,319,800
Meridian Bancorp, Inc.
  41,404   472,213
Meta Financial Group, Inc.
  21,922   409,065
  Shares   Value
Financials-(continued)
Metropolitan Bank Holding Corp.(b)
  7,007   $207,267
Midland States Bancorp, Inc.
  28,784   405,567
MidWestOne Financial Group, Inc.
  12,971   234,516
Moelis & Co., Class A
  49,428   1,472,460
Morningstar, Inc.
  6,918   1,162,501
Mr. Cooper Group, Inc.(b)
  129,844   2,120,353
National Bank Holdings Corp., Class A
  24,712   686,499
National General Holdings Corp.
  110,433   3,753,618
National Western Life Group, Inc., Class A
  3,330   648,651
NBT Bancorp, Inc.
  51,848   1,544,552
Nelnet, Inc., Class A
  32,247   1,870,326
New York Mortgage Trust, Inc.
  353,948   927,344
Nicolet Bankshares, Inc.(b)
  6,947   389,171
NMI Holdings, Inc., Class A(b)
  30,553   474,183
Northeast Bank
  8,343   158,851
Northfield Bancorp, Inc.
  49,873   479,280
Northrim BanCorp, Inc.
  7,824   180,108
Northwest Bancshares, Inc.
  176,161   1,735,186
OceanFirst Financial Corp.
  47,451   726,949
Ocwen Financial Corp.(b)
  191,675   228,093
OFG Bancorp
  82,296   1,076,432
On Deck Capital, Inc.(b)
  201,187   293,733
Oportun Financial Corp.(b)
  11,821   169,040
Oppenheimer Holdings, Inc., Class A
  25,676   544,074
Orchid Island Capital, Inc.
  72,950   374,963
Origin Bancorp, Inc.
  16,923   401,752
Pacific Premier Bancorp, Inc.
  102,319   2,149,722
Park National Corp.
  17,209   1,475,844
Peapack-Gladstone Financial Corp.
  19,028   309,776
PennyMac Financial Services, Inc.
  30,715   1,482,306
PennyMac Mortgage Investment Trust
  136,488   2,572,799
Peoples Bancorp, Inc.
  22,893   459,463
Piper Sandler Cos.
  13,011   805,511
PJT Partners, Inc., Class A
  4,063   217,492
PRA Group, Inc.(b)
  67,208   2,658,748
Preferred Bank
  10,833   403,529
Premier Financial Corp.
  21,912   387,404
ProSight Global, Inc.(b)
  14,817   116,462
Protective Insurance Corp.
  9,554   122,291
Provident Financial Services, Inc.
  93,069   1,270,392
QCR Holdings, Inc.
  12,709   379,745
RBB Bancorp
  19,205   245,824
Ready Capital Corp.
  49,136   394,071
Redwood Trust, Inc.
  170,552   1,216,036
Regional Management Corp.(b)
  23,781   361,233
Renasant Corp.
  79,173   1,839,189
Republic Bancorp, Inc., Class A
  9,961   301,021
Republic First Bancorp, Inc.(b)
  71,401   166,364
RLI Corp.
  32,780   2,888,901
S&T Bancorp, Inc.
  40,298   866,407
Safety Insurance Group, Inc.
  18,539   1,402,846
Sandy Spring Bancorp, Inc.
  43,904   1,015,060
Seacoast Banking Corp. of Florida(b)
  42,915   810,235
ServisFirst Bancshares, Inc.
  25,837   945,376
Simmons First National Corp., Class A
  99,569   1,651,850
SmartFinancial, Inc.
  14,893   212,374
South State Corp.
  63,213   3,012,732
Southern First Bancshares, Inc.(b)
  6,080   148,352
Southern National Bancorp of Virginia, Inc.
  24,190   203,680
Southside Bancshares, Inc.
  34,320   950,664
Spirit of Texas Bancshares, Inc.(b)
  10,114   117,828
State Auto Financial Corp.
  21,996   341,158
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
Sterling Bancorp
  27,322   $83,332
Stewart Information Services Corp.
  49,826   2,090,201
Stock Yards Bancorp, Inc.
  18,133   708,819
StoneX Group, Inc.(b)
  20,610   1,081,613
TFS Financial Corp.
  28,522   412,999
Third Point Reinsurance Ltd. (Bermuda)(b)
  111,274   866,824
Towne Bank
  71,663   1,264,135
TPG RE Finance Trust, Inc.
  68,924   598,260
Tradeweb Markets, Inc., Class A
  15,006   811,374
TriCo Bancshares
  26,532   742,896
TriState Capital Holdings, Inc.(b)
  25,916   343,387
Triumph Bancorp, Inc.(b)
  20,800   544,960
Trupanion, Inc.(b)(c)
  6,268   316,973
TrustCo Bank Corp.
  133,129   770,817
Trustmark Corp.
  96,007   2,162,078
United Community Banks, Inc.
  74,526   1,336,251
United Fire Group, Inc.
  34,658   879,273
United Insurance Holdings Corp.
  38,861   287,571
Universal Insurance Holdings, Inc.
  57,728   1,010,817
Univest Financial Corp.
  38,322   585,943
Veritex Holdings, Inc.
  22,501   376,217
Virtu Financial, Inc., Class A
  42,982   1,065,954
Virtus Investment Partners, Inc.
  8,149   1,107,612
Walker & Dunlop, Inc.
  23,417   1,180,451
Washington Trust Bancorp, Inc.
  18,801   626,825
Waterstone Financial, Inc.
  32,042   489,602
Watford Holdings Ltd., Class A (Bermuda)(b)
  41,211   676,272
WesBanco, Inc.
  74,186   1,471,108
Westamerica Bancorporation
  21,397   1,291,523
Western Asset Mortgage Capital Corp.(c)
  112,400   237,164
Westwood Holdings Group, Inc.
  19,223   218,373
White Mountains Insurance Group Ltd.
  2,110   1,857,074
WisdomTree Investments, Inc.
  211,776   762,394
World Acceptance Corp.(b)(c)
  15,711   1,167,327
WSFS Financial Corp.
  30,174   860,864
        231,457,414
Health Care-11.84%
ABIOMED, Inc.(b)
  9,783   2,934,313
ACADIA Pharmaceuticals, Inc.(b)
  8,183   340,167
Acceleron Pharma, Inc.(b)
  2,577   255,561
Accuray, Inc.(b)
  100,288   223,642
Aclaris Therapeutics, Inc.(b)
  100,337   215,725
Acorda Therapeutics, Inc.(b)(c)
  589,637   370,764
Addus HomeCare Corp.(b)
  5,470   527,363
Adverum Biotechnologies, Inc.(b)
  10,908   182,927
Aerie Pharmaceuticals, Inc.(b)(c)
  9,301   107,520
Agios Pharmaceuticals, Inc.(b)
  11,608   526,075
Aimmune Therapeutics, Inc.(b)(c)
  7,240   95,640
Alkermes PLC(b)
  79,374   1,429,526
Allogene Therapeutics, Inc.(b)(c)
  9,738   357,092
Allscripts Healthcare Solutions, Inc.(b)
  365,528   3,289,752
Alnylam Pharmaceuticals, Inc.(b)
  9,361   1,364,459
AMAG Pharmaceuticals, Inc.(b)(c)
  136,308   1,302,423
Amedisys, Inc.(b)
  8,874   2,077,936
American Renal Associates Holdings, Inc.(b)
  60,575   390,709
Amicus Therapeutics, Inc.(b)
  31,085   449,178
AMN Healthcare Services, Inc.(b)
  33,741   1,853,731
Amneal Pharmaceuticals, Inc.(b)
  196,660   851,538
Amphastar Pharmaceuticals, Inc.(b)
  21,974   439,919
AnaptysBio, Inc.(b)
  25,371   455,663
AngioDynamics, Inc.(b)
  66,441   548,803
ANI Pharmaceuticals, Inc.(b)
  5,787   171,353
  Shares   Value
Health Care-(continued)
Anika Therapeutics, Inc.(b)
  11,112   $404,477
Arcus Biosciences, Inc.(b)
  9,077   178,635
Arena Pharmaceuticals, Inc.(b)
  11,629   713,904
Assembly Biosciences, Inc.(b)
  6,600   146,520
Assertio Holdings, Inc.(b)
  653,470   588,515
Atara Biotherapeutics, Inc.(b)
  24,279   300,817
AtriCure, Inc.(b)
  8,094   330,316
Atrion Corp.
  539   334,234
Avanos Medical, Inc.(b)
  59,448   1,823,270
Avantor, Inc.(b)
  90,852   2,006,012
AxoGen, Inc.(b)
  9,563   108,731
Bio-Techne Corp.
  11,299   3,109,033
BioTelemetry, Inc.(b)
  11,283   480,204
Bluebird Bio, Inc.(b)
  22,263   1,351,364
Blueprint Medicines Corp.(b)
  6,213   454,667
Bruker Corp.
  33,517   1,495,529
Cantel Medical Corp.
  15,734   743,432
Capital Senior Living Corp.(b)
  76,022   49,255
Cardiovascular Systems, Inc.(b)
  6,221   189,616
Castlight Health, Inc., Class B(b)
  127,154   139,869
Change Healthcare, Inc.(b)
  23,781   277,286
Chemed Corp.
  4,397   2,164,159
Computer Programs & Systems, Inc.
  18,646   460,183
Concert Pharmaceuticals, Inc.(b)
  12,066   111,852
CONMED Corp.
  14,245   1,175,782
Corcept Therapeutics, Inc.(b)
  26,535   396,698
CorVel Corp.(b)
  5,106   405,876
Cross Country Healthcare, Inc.(b)
  75,876   492,056
CryoLife, Inc.(b)
  12,812   248,681
Cyclerion Therapeutics, Inc.(b)
  32,247   123,184
Cymabay Therapeutics, Inc.(b)
  90,738   322,120
CytomX Therapeutics, Inc.(b)
  18,801   131,795
Denali Therapeutics, Inc.(b)
  10,181   238,439
DexCom, Inc.(b)
  3,363   1,464,721
Dicerna Pharmaceuticals, Inc.(b)
  6,614   142,201
Eagle Pharmaceuticals, Inc.(b)
  4,778   221,651
Editas Medicine, Inc.(b)(c)
  9,128   267,998
Emergent BioSolutions, Inc.(b)
  26,522   2,950,307
Enanta Pharmaceuticals, Inc.(b)
  11,331   519,526
Endo International PLC(b)
  355,481   1,237,074
Ensign Group, Inc. (The)
  31,208   1,435,256
Enzo Biochem, Inc.(b)
  62,127   147,862
Epizyme, Inc.(b)
  8,592   118,913
Evolent Health, Inc., Class A(b)
  95,066   1,107,519
Exact Sciences Corp.(b)
  7,640   723,890
Exelixis, Inc.(b)
  76,119   1,757,588
FibroGen, Inc.(b)
  11,629   470,626
Five Prime Therapeutics, Inc.(b)
  54,313   320,447
Fluidigm Corp.(b)
  36,978   260,325
FONAR Corp.(b)
  9,837   242,187
G1 Therapeutics, Inc.(b)
  16,758   245,840
Geron Corp.(b)
  126,421   201,009
Glaukos Corp.(b)
  3,327   145,390
Global Blood Therapeutics, Inc.(b)
  7,332   494,763
Globus Medical, Inc., Class A(b)
  31,817   1,532,943
GlycoMimetics, Inc.(b)
  36,837   145,138
Guardant Health, Inc.(b)
  2,172   185,011
Haemonetics Corp.(b)
  14,613   1,280,976
Halozyme Therapeutics, Inc.(b)
  16,357   444,747
Hanger, Inc.(b)
  28,014   489,124
Harvard Bioscience, Inc.(b)
  50,675   157,599
HealthEquity, Inc.(b)
  9,101   469,248
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Health Care-(continued)
HealthStream, Inc.(b)
  17,047   $374,267
Heron Therapeutics, Inc.(b)
  15,296   249,172
Heska Corp.(b)
  2,313   222,557
HMS Holdings Corp.(b)
  57,416   1,866,020
Horizon Therapeutics PLC(b)
  55,495   3,395,739
ICU Medical, Inc.(b)
  8,717   1,601,574
IDEXX Laboratories, Inc.(b)
  11,082   4,407,866
Immunomedics, Inc.(b)
  16,976   716,896
Incyte Corp.(b)
  29,224   2,886,162
Innoviva, Inc.(b)
  35,641   482,757
Inogen, Inc.(b)
  10,805   331,714
Inovalon Holdings, Inc., Class A(b)
  30,374   714,700
Insmed, Inc.(b)
  6,213   162,284
Insulet Corp.(b)
  2,146   436,411
Integer Holdings Corp.(b)
  23,635   1,554,474
Integra LifeSciences Holdings Corp.(b)
  36,480   1,741,920
Intellia Therapeutics, Inc.(b)(c)
  15,447   275,111
Intersect ENT, Inc.(b)
  6,372   109,535
Intra-Cellular Therapies, Inc.(b)
  8,343   165,400
IntriCon Corp.(b)
  9,138   98,690
Invacare Corp.
  88,941   626,145
Invitae Corp.(b)(c)
  7,179   209,627
Ionis Pharmaceuticals, Inc.(b)
  19,110   1,099,972
Iovance Biotherapeutics, Inc.(b)
  14,592   424,189
Karyopharm Therapeutics, Inc.(b)
  10,689   171,558
Lannett Co., Inc.(b)
  131,250   780,938
Lantheus Holdings, Inc.(b)
  33,592   452,820
LeMaitre Vascular, Inc.
  6,792   199,209
LHC Group, Inc.(b)
  14,284   2,786,951
Ligand Pharmaceuticals, Inc.(b)(c)
  8,171   957,478
LivaNova PLC(b)
  30,138   1,402,623
Luminex Corp.
  25,160   915,824
MacroGenics, Inc.(b)
  24,381   619,277
Madrigal Pharmaceuticals, Inc.(b)(c)
  2,401   246,367
Masimo Corp.(b)
  11,561   2,544,807
Medpace Holdings, Inc.(b)
  9,694   1,156,979
Meridian Bioscience, Inc.(b)
  104,386   2,556,413
Merit Medical Systems, Inc.(b)
  40,748   1,822,251
Mesa Laboratories, Inc.
  798   189,078
Moderna, Inc.(b)(c)
  49,637   3,678,102
Momenta Pharmaceuticals, Inc.(b)
  12,576   370,866
MyoKardia, Inc.(b)
  5,157   464,800
Myriad Genetics, Inc.(b)
  106,698   1,287,845
Natera, Inc.(b)
  3,612   173,448
National HealthCare Corp.
  16,809   997,110
National Research Corp.
  5,009   286,465
Natus Medical, Inc.(b)
  28,135   522,748
Nektar Therapeutics(b)
  97,860   2,168,578
Neogen Corp.(b)
  15,476   1,188,093
NeoGenomics, Inc.(b)
  11,761   449,623
Neurocrine Biosciences, Inc.(b)
  5,271   634,418
Nevro Corp.(b)
  2,562   340,644
NextGen Healthcare, Inc.(b)
  63,226   924,364
Novocure Ltd.(b)
  1,851   140,287
NuVasive, Inc.(b)
  28,882   1,650,318
Omnicell, Inc.(b)
  14,994   1,053,928
OPKO Health, Inc.(b)(c)
  811,867   4,181,115
OraSure Technologies, Inc.(b)
  71,764   1,302,517
Orthofix Medical, Inc.(b)
  15,936   489,395
Oxford Immunotec Global PLC(b)
  15,990   209,149
Pacific Biosciences of California, Inc.(b)
  37,725   140,714
Pacira BioSciences, Inc.(b)
  10,144   533,676
  Shares   Value
Health Care-(continued)
PDL BioPharma, Inc.(b)
  566,276   $1,800,758
Penumbra, Inc.(b)
  2,839   630,003
PetIQ, Inc.(b)(c)
  9,910   361,616
Phibro Animal Health Corp., Class A
  21,761   504,746
Precigen, Inc.(b)(c)
  38,158   160,645
Premier, Inc., Class A(b)
  61,790   2,160,796
Prestige Consumer Healthcare, Inc.(b)
  60,385   2,245,718
Prothena Corp. PLC (Ireland)(b)
  24,571   300,749
Providence Service Corp. (The)(b)
  18,801   1,523,069
PTC Therapeutics, Inc.(b)
  6,991   323,893
Quidel Corp.(b)
  8,203   2,317,101
R1 RCM, Inc.(b)
  23,729   324,375
RadNet, Inc.(b)
  41,799   664,186
REGENXBIO, Inc.(b)
  8,785   290,784
Repligen Corp.(b)
  7,828   1,181,324
Retrophin, Inc.(b)
  20,932   416,128
Rhythm Pharmaceuticals, Inc.(b)
  8,103   155,740
Rubius Therapeutics, Inc.(b)(c)
  17,929   88,031
Sage Therapeutics, Inc.(b)
  11,476   522,961
Sangamo Therapeutics, Inc.(b)
  49,975   541,229
Sarepta Therapeutics, Inc.(b)
  7,845   1,204,364
SeaSpine Holdings Corp.(b)
  9,068   84,967
Seattle Genetics, Inc.(b)
  8,343   1,387,191
SIGA Technologies, Inc.(b)
  31,736   203,745
Sorrento Therapeutics, Inc.(b)(c)
  65,585   585,018
Spectrum Pharmaceuticals, Inc.(b)
  124,097   371,050
STAAR Surgical Co.(b)
  5,604   326,097
Supernus Pharmaceuticals, Inc.(b)
  33,553   747,058
Surgalign Holdings, Inc.(b)
  75,978   213,498
Surgery Partners, Inc.(b)
  48,074   734,090
SurModics, Inc.(b)
  5,370   253,947
Syneos Health, Inc.(b)
  44,946   2,804,181
Tabula Rasa HealthCare, Inc.(b)(c)
  2,616   147,019
Tactile Systems Technology, Inc.(b)
  2,756   112,941
Tandem Diabetes Care, Inc.(b)
  2,017   210,696
Taro Pharmaceutical Industries Ltd.(b)
  14,817   963,253
Teladoc Health, Inc.(b)
  8,996   2,137,720
Tivity Health, Inc.(b)
  90,762   1,190,797
TransEnterix, Inc.(b)(c)
  113,914   55,636
Triple-S Management Corp., Class B(b)
  165,241   3,215,590
Ultragenyx Pharmaceutical, Inc.(b)
  9,100   711,256
uniQure N.V. (Netherlands)(b)
  2,259   94,268
US Physical Therapy, Inc.
  4,866   404,170
Utah Medical Products, Inc.
  2,012   163,978
Vanda Pharmaceuticals, Inc.(b)
  27,841   280,637
Varex Imaging Corp.(b)
  54,504   854,623
Veeva Systems, Inc., Class A(b)
  11,831   3,130,128
Vericel Corp.(b)
  6,849   112,940
Viking Therapeutics, Inc.(b)
  34,778   244,142
Vocera Communications, Inc.(b)
  8,900   273,853
West Pharmaceutical Services, Inc.
  18,961   5,098,044
Wright Medical Group N.V.(b)
  40,215   1,207,254
Xencor, Inc.(b)
  12,327   370,919
Zogenix, Inc.(b)
  15,867   377,476
Zymeworks, Inc. (Canada)(b)
  3,580   109,297
        172,477,822
Industrials-16.96%
AAON, Inc.
  11,909   705,608
AAR Corp.
  42,383   729,835
ACCO Brands Corp.
  248,427   1,619,744
ADT, Inc.(c)
  219,158   1,886,950
Advanced Disposal Services, Inc.(b)
  81,410   2,455,326
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
Advanced Drainage Systems, Inc.
  19,477   $954,373
Aegion Corp.(b)
  49,769   767,438
Aerojet Rocketdyne Holdings, Inc.(b)
  42,587   1,756,714
AeroVironment, Inc.(b)
  9,656   739,167
Air Transport Services Group, Inc.(b)
  91,430   2,228,149
Alamo Group, Inc.
  7,665   790,338
Alaska Air Group, Inc.
  48,289   1,663,073
Albany International Corp., Class A
  21,375   1,027,710
Allegiant Travel Co.
  4,868   545,362
Allied Motion Technologies, Inc.
  4,536   171,007
Altra Industrial Motion Corp.
  68,352   2,339,689
Ameresco, Inc., Class A(b)
  20,348   563,233
American Woodmark Corp.(b)
  16,065   1,295,160
Apogee Enterprises, Inc.
  44,606   963,044
ArcBest Corp.
  97,803   2,972,233
Arcosa, Inc.
  62,843   2,653,231
Argan, Inc.
  20,474   878,335
Armstrong Flooring, Inc.(b)
  110,931   329,465
Armstrong World Industries, Inc.
  15,742   1,121,460
Astec Industries, Inc.
  29,203   1,299,241
Astronics Corp.(b)
  36,492   317,480
Atkore International Group, Inc.(b)
  45,299   1,208,124
Atlas Air Worldwide Holdings, Inc.(b)
  41,756   2,174,652
Atlas Corp. (Canada)
  230,217   1,636,843
Axon Enterprise, Inc.(b)
  9,335   776,019
AZZ, Inc.
  34,716   1,096,331
Babcock & Wilcox Enterprises, Inc.(b)(c)
  72,260   166,198
Barnes Group, Inc.
  43,045   1,587,069
Barrett Business Services, Inc.
  7,853   413,696
BG Staffing, Inc.
  17,805   161,669
Blue Bird Corp.(b)
  20,080   251,602
BlueLinx Holdings, Inc.(b)(c)
  57,485   788,119
BMC Stock Holdings, Inc.(b)
  104,170   2,666,752
Brady Corp., Class A
  39,777   1,828,549
BrightView Holdings, Inc.(b)
  62,320   755,318
Brink’s Co. (The)
  37,228   1,651,062
BWX Technologies, Inc.
  35,001   1,908,255
Caesarstone Ltd.
  55,027   631,160
CAI International, Inc.(b)
  47,934   824,944
Casella Waste Systems, Inc., Class A(b)
  14,070   779,619
CBIZ, Inc.(b)
  47,697   1,153,313
CECO Environmental Corp.(b)
  35,154   235,532
Chart Industries, Inc.(b)
  26,241   1,798,296
Cimpress PLC (Ireland)(b)(c)
  12,377   1,237,700
CIRCOR International, Inc.(b)
  23,131   606,495
Clarivate PLC (United Kingdom)(b)
  19,364   535,415
Columbus McKinnon Corp.
  24,575   814,170
Comfort Systems USA, Inc.
  35,627   1,771,018
Commercial Vehicle Group, Inc.(b)
  125,440   293,530
Copa Holdings S.A., Class A (Panama)
  11,082   459,238
Cornerstone Building Brands, Inc.(b)
  90,072   510,708
Corporacion America Airports S.A. (Argentina)(b)
  123,713   338,974
Costamare, Inc. (Monaco)
  165,911   754,895
Covenant Logistics Group, Inc., Class A(b)
  57,000   960,450
CRA International, Inc.
  9,837   410,891
CSW Industrials, Inc.
  9,056   604,850
Cubic Corp.
  24,878   1,044,876
Daseke, Inc.(b)
  84,259   351,360
Douglas Dynamics, Inc.
  19,932   704,596
Ducommun, Inc.(b)
  14,017   503,911
DXP Enterprises, Inc.(b)
  36,131   609,891
  Shares   Value
Industrials-(continued)
Eagle Bulk Shipping, Inc.(b)
  162,551   $394,999
Echo Global Logistics, Inc.(b)
  81,986   2,054,979
Encore Wire Corp.
  24,666   1,237,987
Enerpac Tool Group Corp.
  45,294   856,057
Ennis, Inc.
  44,638   772,237
EnPro Industries, Inc.
  30,255   1,444,071
ESCO Technologies, Inc.
  12,962   1,113,954
Evoqua Water Technologies Corp.(b)
  43,470   835,928
Exponent, Inc.
  11,517   968,119
Federal Signal Corp.
  41,921   1,295,778
Forrester Research, Inc.(b)
  8,276   290,570
Forward Air Corp.
  24,093   1,252,595
Foundation Building Materials, Inc.(b)
  50,567   694,285
Franklin Covey Co.(b)
  5,655   102,299
Franklin Electric Co., Inc.
  30,296   1,637,499
FuelCell Energy, Inc.(b)(c)
  60,310   134,491
Gates Industrial Corp. PLC(b)
  78,300   825,282
Genco Shipping & Trading Ltd.
  52,167   354,214
Generac Holdings, Inc.(b)
  25,932   4,086,365
Gibraltar Industries, Inc.(b)
  28,027   1,449,556
GMS, Inc.(b)
  96,235   2,254,786
Golden Ocean Group Ltd. (Norway)(c)
  227,664   874,230
Gorman-Rupp Co. (The)
  17,540   530,760
GP Strategies Corp.(b)
  19,429   144,357
GrafTech International Ltd.
  34,587   209,943
Granite Construction, Inc.
  123,169   2,088,946
Great Lakes Dredge & Dock Corp.(b)
  91,324   763,469
Griffon Corp.
  75,155   1,718,795
H&E Equipment Services, Inc.
  77,936   1,370,894
Harsco Corp.(b)
  154,893   2,472,092
Hawaiian Holdings, Inc.
  35,330   420,074
HC2 Holdings, Inc.(b)(c)
  102,460   277,667
Healthcare Services Group, Inc.
  73,299   1,919,701
Heartland Express, Inc.
  42,773   867,650
HEICO Corp.
  8,226   790,683
HEICO Corp., Class A
  15,831   1,211,863
Heidrick & Struggles International, Inc.
  28,955   585,760
Helios Technologies, Inc.
  22,785   861,957
Herc Holdings, Inc.(b)
  59,520   1,996,301
Heritage-Crystal Clean, Inc.(b)
  13,348   185,938
Herman Miller, Inc.
  79,075   1,852,727
Hillenbrand, Inc.
  107,190   3,133,164
HNI Corp.
  76,078   2,259,517
Hurco Cos., Inc.
  12,206   338,594
Huron Consulting Group, Inc.(b)
  20,107   959,506
Hyster-Yale Materials Handling, Inc.
  28,263   1,054,493
IAA, Inc.(b)
  55,777   2,417,933
ICF International, Inc.
  15,737   1,063,979
Ingersoll Rand, Inc.(b)
  75,361   2,380,654
InnerWorkings, Inc.(b)
  82,144   225,896
Insperity, Inc.
  33,990   2,272,571
Insteel Industries, Inc.
  32,292   601,923
Interface, Inc.
  83,049   662,731
JELD-WEN Holding, Inc.(b)
  135,854   2,662,738
John Bean Technologies Corp.
  14,833   1,390,742
Kadant, Inc.
  8,361   907,252
Kaman Corp.
  33,124   1,308,067
KAR Auction Services, Inc.
  128,427   1,943,101
Kelly Services, Inc., Class A
  78,724   1,165,902
Kforce, Inc.
  32,496   937,185
Kimball International, Inc., Class B
  39,468   431,780
Knoll, Inc.
  77,316   905,370
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
Korn Ferry
  59,062   $1,659,642
Kornit Digital Ltd. (Israel)(b)
  4,359   233,599
Kratos Defense & Security Solutions, Inc.(b)
  44,070   793,701
Lawson Products, Inc.(b)
  3,399   101,562
LB Foster Co., Class A(b)
  16,311   229,333
Limbach Holdings, Inc.(b)
  34,114   126,904
Lindsay Corp.
  8,140   789,336
Luxfer Holdings PLC (United Kingdom)
  41,467   526,631
Lydall, Inc.(b)
  48,370   783,594
Lyft, Inc., Class A(b)
  12,441   363,650
Manitowoc Co., Inc. (The)(b)
  79,557   848,078
Marten Transport Ltd.
  37,824   1,006,875
Masonite International Corp.(b)
  29,704   2,505,532
Matson, Inc.
  16,560   603,115
Matthews International Corp., Class A
  63,711   1,376,158
Maxar Technologies, Inc.(c)
  129,893   2,310,796
McGrath RentCorp
  19,532   1,133,247
Mercury Systems, Inc.(b)
  12,844   994,511
Mesa Air Group, Inc.(b)
  109,378   339,072
Miller Industries, Inc.
  20,275   574,796
Mistras Group, Inc.(b)
  64,720   228,462
Moog, Inc., Class A
  34,443   1,850,278
MSA Safety, Inc.
  16,697   1,979,095
Mueller Water Products, Inc., Class A
  134,236   1,358,468
MYR Group, Inc.(b)
  38,385   1,407,578
National Presto Industries, Inc.
  9,349   798,311
NN, Inc.
  95,924   504,560
Northwest Pipe Co.(b)
  9,918   246,462
NOW, Inc.(b)
  347,019   2,734,510
NV5 Global, Inc.(b)(c)
  6,644   376,981
Orion Group Holdings, Inc.(b)
  63,669   183,367
PAM Transportation Services, Inc.(b)
  4,608   129,300
Park Aerospace Corp.
  44,843   483,408
Park-Ohio Holdings Corp.
  29,193   420,963
Parsons Corp.(b)
  15,066   524,749
Patrick Industries, Inc.
  28,467   1,820,465
PGT Innovations, Inc.(b)
  54,436   929,223
PICO Holdings, Inc.(b)
  20,048   162,790
Powell Industries, Inc.
  15,435   409,799
Preformed Line Products Co.
  5,816   286,496
Primoris Services Corp.
  71,525   1,146,546
Proto Labs, Inc.(b)
  10,813   1,298,858
Quad/Graphics, Inc.
  182,643   568,020
Quanex Building Products Corp.
  50,706   712,419
Radiant Logistics, Inc.(b)
  99,602   423,309
Raven Industries, Inc.
  27,693   598,446
RBC Bearings, Inc.(b)
  8,343   1,021,350
Resources Connection, Inc.
  61,852   698,928
REV Group, Inc.
  76,687   498,466
Rollins, Inc.
  44,275   2,320,010
RR Donnelley & Sons Co.
  414,711   468,623
Safe Bulkers, Inc. (Greece)(b)
  151,426   201,397
Saia, Inc.(b)
  22,754   2,717,965
Schneider National, Inc., Class B
  83,987   2,110,593
Scorpio Bulkers, Inc.
  14,830   217,408
Shyft Group, Inc. (The)
  30,045   567,250
Simpson Manufacturing Co., Inc.
  24,679   2,383,004
SiteOne Landscape Supply, Inc.(b)
  16,481   2,110,062
SkyWest, Inc.
  21,607   568,480
SP Plus Corp.(b)
  44,448   706,279
Spirit Airlines, Inc.(b)(c)
  36,648   579,405
SPX Corp.(b)
  24,433   1,026,186
  Shares   Value
Industrials-(continued)
SPX FLOW, Inc.(b)
  72,231   $2,895,018
Standex International Corp.
  14,817   793,450
Star Bulk Carriers Corp. (Greece)
  96,840   674,975
Steelcase, Inc., Class A
  153,856   1,650,875
Sterling Construction Co., Inc.(b)
  49,926   514,238
Sunrun, Inc.(b)
  49,677   1,822,649
Systemax, Inc.
  28,304   634,293
Team, Inc.(b)
  81,443   321,700
Tennant Co.
  13,945   929,016
Tetra Tech, Inc.
  26,668   2,364,118
Textainer Group Holdings Ltd. (China)(b)
  156,750   1,322,970
Thermon Group Holdings, Inc.(b)
  37,704   510,889
Titan International, Inc.
  258,363   384,961
Titan Machinery, Inc.(b)
  89,180   968,941
TPI Composites, Inc.(b)
  29,161   745,938
Transcat, Inc.(b)
  6,263   174,738
Trex Co., Inc.(b)
  11,412   1,590,034
TriMas Corp.(b)
  50,189   1,174,423
TriNet Group, Inc.(b)
  33,829   2,232,714
Triumph Group, Inc.
  83,191   564,035
TrueBlue, Inc.(b)
  149,626   2,308,729
Twin Disc, Inc.(b)
  22,033   129,113
UniFirst Corp.
  10,207   1,903,401
Universal Logistics Holdings, Inc.
  19,797   363,671
Upwork, Inc.(b)
  21,141   317,538
US Ecology, Inc.
  17,605   610,541
US Xpress Enterprises, Inc., Class A(b)
  119,315   1,092,925
USA Truck, Inc.(b)
  29,163   284,923
Vectrus, Inc.(b)
  20,765   913,452
Veritiv Corp.(b)
  69,348   1,061,718
Viad Corp.
  23,989   346,881
Vicor Corp.(b)
  3,341   272,191
Vivint Solar, Inc.(b)
  11,082   225,408
VSE Corp.
  10,019   281,834
Wabash National Corp.
  165,069   1,880,136
Watts Water Technologies, Inc., Class A
  17,296   1,450,961
Welbilt, Inc.(b)
  149,460   908,717
Werner Enterprises, Inc.
  58,962   2,593,444
Willdan Group, Inc.(b)
  7,596   187,317
Willis Lease Finance Corp.(b)
  4,223   82,349
WillScot Mobile Mini Holdings Corp.(b)
  135,918   2,046,925
Woodward, Inc.
  26,727   2,002,921
YRC Worldwide, Inc.(b)(c)
  875,268   2,380,729
        246,996,611
Information Technology-16.43%
2U, Inc.(b)
  27,349   1,288,001
3D Systems Corp.(b)(c)
  81,446   536,729
8x8, Inc.(b)
  18,109   287,933
A10 Networks, Inc.(b)
  23,215   187,577
Acacia Communications, Inc.(b)
  11,570   786,529
ACI Worldwide, Inc.(b)
  80,058   2,144,754
ADTRAN, Inc.
  107,866   1,339,696
Advanced Energy Industries, Inc.(b)
  23,576   1,734,486
Agilysys, Inc.(b)
  4,569   95,766
Alarm.com Holdings, Inc.(b)
  7,347   514,584
Alpha & Omega Semiconductor Ltd.(b)
  47,085   512,756
Altair Engineering, Inc., Class A(b)
  8,496   342,389
Alteryx, Inc., Class A(b)
  1,810   317,637
Ambarella, Inc.(b)
  10,667   483,002
American Software, Inc., Class A
  17,849   293,973
Amkor Technology, Inc.(b)
  274,246   3,728,374
Amtech Systems, Inc.(b)
  25,415   130,887
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
Anaplan, Inc.(b)
  4,187   $190,132
Applied Optoelectronics, Inc.(b)(c)
  55,412   787,405
Arista Networks, Inc.(b)
  14,066   3,653,925
Arlo Technologies, Inc.(b)
  139,557   588,931
Aspen Technology, Inc.(b)
  12,487   1,214,486
Atlassian Corp. PLC, Class A(b)
  3,106   548,675
Autodesk, Inc.(b)
  8,094   1,913,664
Avalara, Inc.(b)
  1,750   235,287
Avid Technology, Inc.(b)
  38,373   315,810
Axcelis Technologies, Inc.(b)
  30,449   895,810
AXT, Inc.(b)
  69,940   335,013
Badger Meter, Inc.
  11,829   740,495
Bel Fuse, Inc., Class B
  35,982   438,980
Belden, Inc.
  64,155   2,027,298
Blackbaud, Inc.
  17,738   1,109,335
Blackline, Inc.(b)
  4,359   387,559
Bottomline Technologies (DE), Inc.(b)
  13,821   667,001
Box, Inc., Class A(b)
  18,426   330,747
Brightcove, Inc.(b)
  23,033   243,689
Brooks Automation, Inc.
  34,570   1,882,336
Cabot Microelectronics Corp.
  8,326   1,254,895
CalAmp Corp.(b)
  49,248   388,074
Calix, Inc.(b)
  36,050   739,385
Cardtronics PLC, Class A(b)
  44,448   992,524
Casa Systems, Inc.(b)
  66,384   372,414
Cass Information Systems, Inc.
  9,685   347,014
Ceragon Networks Ltd. (Israel)(b)(c)
  190,868   500,074
Cerence, Inc.(b)
  50,238   1,992,439
Ceridian HCM Holding, Inc.(b)
  18,869   1,477,254
CEVA, Inc.(b)
  10,688   429,658
ChannelAdvisor Corp.(b)
  15,066   306,894
Cirrus Logic, Inc.(b)
  39,301   2,693,298
Cloudera, Inc.(b)
  132,490   1,493,162
Cognex Corp.
  39,413   2,635,547
Coherent, Inc.(b)
  22,536   3,128,673
Cohu, Inc.
  31,641   595,800
CommVault Systems, Inc.(b)
  16,062   708,013
Comtech Telecommunications Corp.
  29,899   490,942
Cornerstone OnDemand, Inc.(b)
  5,508   195,589
Coupa Software, Inc.(b)
  2,351   720,464
CSG Systems International, Inc.
  29,238   1,231,797
CTS Corp.
  25,548   507,383
CyberArk Software Ltd.(b)
  6,087   717,292
Daktronics, Inc.
  82,545   344,213
Diebold Nixdorf, Inc.(b)
  362,428   2,526,123
Digi International, Inc.(b)
  33,022   400,227
Diodes, Inc.(b)
  39,739   2,044,572
DocuSign, Inc.(b)
  3,771   817,666
Dolby Laboratories, Inc., Class A
  32,877   2,288,239
Dropbox, Inc., Class A(b)
  29,621   673,878
DSP Group, Inc.(b)
  14,104   209,444
Eastman Kodak Co.(b)(c)
  161,147   3,521,062
Ebix, Inc.(c)
  22,844   503,824
Elastic N.V.(b)
  2,865   275,584
Endurance International Group Holdings, Inc.(b)
  179,922   1,020,158
Enphase Energy, Inc.(b)
  3,063   184,883
Entegris, Inc.
  41,108   2,956,076
Envestnet, Inc.(b)
  14,049   1,140,779
EPAM Systems, Inc.(b)
  11,217   3,253,827
ePlus, Inc.(b)
  18,649   1,390,096
EVERTEC, Inc.
  32,017   994,128
Evo Payments, Inc., Class A(b)
  10,487   237,950
  Shares   Value
Information Technology-(continued)
Exela Technologies, Inc.(b)
  444,627   $226,893
ExlService Holdings, Inc.(b)
  17,935   1,148,916
Extreme Networks, Inc.(b)
  89,502   407,234
Fabrinet (Thailand)(b)
  30,255   2,197,421
Fair Isaac Corp.(b)
  3,097   1,360,171
FARO Technologies, Inc.(b)
  11,331   677,934
FireEye, Inc.(b)
  62,380   941,938
Fitbit, Inc., Class A(b)
  251,688   1,646,040
Five9, Inc.(b)
  3,285   396,894
ForeScout Technologies, Inc.(b)
  6,328   183,449
FormFactor, Inc.(b)
  40,979   1,181,834
Fortinet, Inc.(b)
  17,873   2,471,836
Globant S.A. (Argentina)(b)
  5,503   951,689
GoDaddy, Inc., Class A(b)
  39,084   2,746,824
GreenSky, Inc., Class A(b)(c)
  28,014   158,139
GTT Communications, Inc.(b)(c)
  52,665   331,789
Guidewire Software, Inc.(b)
  14,719   1,731,838
Hackett Group, Inc. (The)
  21,038   290,114
Harmonic, Inc.(b)
  70,470   393,223
HubSpot, Inc.(b)
  2,159   506,523
I3 Verticals, Inc., Class A(b)
  4,290   103,732
Ichor Holdings Ltd.(b)
  21,162   694,537
II-VI, Inc.(b)
  65,862   3,340,521
Immersion Corp.(b)
  17,463   117,875
Infinera Corp.(b)
  143,001   1,128,278
Inphi Corp.(b)
  7,066   923,244
InterDigital, Inc.
  35,737   2,144,935
IPG Photonics Corp.(b)
  23,454   4,198,501
Itron, Inc.(b)
  28,288   1,967,713
Ituran Location and Control Ltd. (Israel)
  18,168   240,363
j2 Global, Inc.(b)
  33,087   1,876,695
Kimball Electronics, Inc.(b)
  32,023   425,265
Knowles Corp.(b)
  114,700   1,750,322
Kulicke & Soffa Industries, Inc. (Singapore)
  54,048   1,280,938
Lattice Semiconductor Corp.(b)
  29,448   915,538
Limelight Networks, Inc.(b)
  48,721   305,481
Littelfuse, Inc.
  14,981   2,661,375
LivePerson, Inc.(b)
  10,782   463,410
LiveRamp Holdings, Inc.(b)
  41,893   1,909,064
LogMeIn, Inc.
  35,839   3,075,345
Lumentum Holdings, Inc.(b)
  23,615   2,192,180
MACOM Technology Solutions Holdings, Inc.(b)
  28,185   1,191,098
MagnaChip Semiconductor Corp. (South Korea)(b)
  34,737   395,307
Manhattan Associates, Inc.(b)
  15,985   1,531,203
ManTech International Corp., Class A
  20,758   1,444,342
MAXIMUS, Inc.
  43,829   3,252,550
MaxLinear, Inc.(b)
  39,717   1,006,826
Methode Electronics, Inc.
  46,164   1,301,825
MicroStrategy, Inc., Class A(b)
  6,456   800,028
Mimecast Ltd.(b)
  3,470   162,847
MobileIron, Inc.(b)
  31,354   195,335
MoneyGram International, Inc.(b)(c)
  316,854   1,102,652
MongoDB, Inc.(b)
  1,620   371,110
Monolithic Power Systems, Inc.
  8,321   2,205,148
MTS Systems Corp.
  24,922   462,303
NeoPhotonics Corp.(b)
  46,731   425,719
Net 1 UEPS Technologies, Inc. (South Africa)(b)(c)
  116,409   365,524
NETGEAR, Inc.(b)
  49,992   1,537,254
NetScout Systems, Inc.(b)
  99,543   2,534,365
New Relic, Inc.(b)
  7,222   512,112
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
NIC, Inc.
  44,231   $969,544
nLight, Inc.(b)
  17,885   414,395
Novanta, Inc.(b)
  9,536   988,692
Nutanix, Inc., Class A(b)
  16,547   367,178
NVE Corp.
  3,522   191,033
Okta, Inc.(b)
  2,558   565,267
OneSpan, Inc.(b)
  23,301   725,593
Onto Innovation, Inc.(b)
  15,816   598,161
OSI Systems, Inc.(b)
  16,062   1,139,760
Pagseguro Digital Ltd., Class A (Brazil)(b)
  38,492   1,471,549
Palo Alto Networks, Inc.(b)
  8,171   2,091,122
PAR Technology Corp.(b)(c)
  4,913   151,124
Paycom Software, Inc.(b)
  2,735   777,752
Paylocity Holding Corp.(b)
  1,862   248,018
PC Connection, Inc.
  21,032   919,098
PDF Solutions, Inc.(b)
  17,373   427,028
Pegasystems, Inc.
  5,853   684,157
Perficient, Inc.(b)
  16,878   661,786
Photronics, Inc.(b)
  114,168   1,356,316
Plantronics, Inc.
  102,834   2,055,652
Power Integrations, Inc.
  10,506   1,282,047
Progress Software Corp.
  19,548   681,443
Proofpoint, Inc.(b)
  5,980   691,707
PTC, Inc.(b)
  23,283   1,992,093
Pure Storage, Inc., Class A(b)
  60,391   1,078,583
Q2 Holdings, Inc.(b)
  2,644   248,668
QAD, Inc., Class A
  4,249   167,878
Qualys, Inc.(b)
  6,351   784,221
Radware Ltd. (Israel)(b)
  20,745   530,035
Rambus, Inc.(b)
  93,457   1,379,425
Rapid7, Inc.(b)
  3,579   213,201
RealPage, Inc.(b)
  23,092   1,455,027
Ribbon Communications, Inc.(b)
  116,485   512,534
RingCentral, Inc., Class A(b)
  2,091   606,955
Rogers Corp.(b)
  15,637   1,863,774
SailPoint Technologies Holding, Inc.(b)
  21,042   662,823
ScanSource, Inc.(b)
  77,885   1,787,461
Semtech Corp.(b)
  33,219   1,851,295
ServiceNow, Inc.(b)
  6,174   2,711,621
Silicom Ltd. (Israel)(b)(c)
  7,463   281,131
Silicon Laboratories, Inc.(b)
  18,801   1,889,689
SMART Global Holdings, Inc.(b)
  20,280   565,609
SolarEdge Technologies, Inc.(b)
  6,891   1,206,614
SolarWinds Corp.(b)(c)
  29,694   545,182
Splunk, Inc.(b)
  12,966   2,720,526
SPS Commerce, Inc.(b)
  9,040   679,537
Square, Inc., Class A(b)
  22,488   2,920,067
StarTek, Inc.(b)
  21,213   103,519
StoneCo Ltd., Class A (Brazil)(b)
  10,913   520,659
Stratasys Ltd.(b)(c)
  73,238   1,097,105
SunPower Corp.(b)(c)
  53,970   503,540
SVMK, Inc.(b)
  11,280   270,494
Switch, Inc., Class A
  9,512   171,121
Sykes Enterprises, Inc.(b)
  60,613   1,664,433
Synaptics, Inc.(b)
  32,880   2,631,058
Synchronoss Technologies, Inc.(b)(c)
  77,819   256,803
Telenav, Inc.(b)
  23,646   122,605
TESSCO Technologies, Inc.
  39,334   242,297
Trade Desk, Inc. (The), Class A(b)
  2,303   1,039,390
TTEC Holdings, Inc.
  13,251   628,892
Tucows, Inc., Class A(b)(c)
  5,853   354,165
Twilio, Inc., Class A(b)
  4,588   1,272,803
  Shares   Value
Information Technology-(continued)
Tyler Technologies, Inc.(b)
  7,138   $2,550,050
Ubiquiti, Inc.
  1,371   254,046
Ultra Clean Holdings, Inc.(b)
  48,714   1,465,804
Unisys Corp.(b)
  153,703   1,827,529
Universal Display Corp.
  5,143   897,196
Upland Software, Inc.(b)
  3,114   107,184
Varonis Systems, Inc.(b)
  2,616   283,444
Veeco Instruments, Inc.(b)
  48,796   659,722
Verint Systems, Inc.(b)
  45,444   2,039,981
VeriSign, Inc.(b)
  13,445   2,846,038
Verra Mobility Corp.(b)
  35,733   365,549
Viavi Solutions, Inc.(b)
  96,419   1,333,475
Virtusa Corp.(b)
  23,879   969,487
Vishay Precision Group, Inc.(b)
  12,136   308,861
VMware, Inc., Class A(b)(c)
  16,513   2,315,288
Wix.com Ltd. (Israel)(b)
  1,755   509,792
Workday, Inc., Class A(b)
  11,845   2,142,997
Xperi Holding Corp.
  203,109   3,745,330
Yext, Inc.(b)
  8,625   145,072
Zendesk, Inc.(b)
  6,982   636,409
Zix Corp.(b)
  14,886   105,914
Zscaler, Inc.(b)
  2,768   359,425
Zuora, Inc.(b)
  12,338   143,614
        239,399,986
Materials-5.59%
Advanced Emissions Solutions, Inc.(c)
  14,117   58,727
AdvanSix, Inc.(b)
  118,143   1,470,880
American Vanguard Corp.
  32,180   433,143
Balchem Corp.
  13,393   1,342,782
Century Aluminum Co.(b)
  180,651   1,573,470
Clearwater Paper Corp.(b)
  76,133   2,810,830
Cleveland-Cliffs, Inc.(c)
  473,977   2,455,201
Coeur Mining, Inc.(b)
  233,523   1,851,837
Contura Energy, Inc.(b)
  128,263   509,204
Eagle Materials, Inc.
  29,405   2,359,163
Ferro Corp.(b)
  120,781   1,411,930
Ferroglobe PLC(b)
  240,270   116,531
Flotek Industries, Inc.(b)
  246,068   339,574
Forterra, Inc.(b)
  24,647   320,165
FutureFuel Corp.
  55,481   731,240
GCP Applied Technologies, Inc.(b)
  95,370   2,176,343
Gold Resource Corp.
  45,286   198,806
Hawkins, Inc.
  13,912   716,885
Haynes International, Inc.
  25,149   461,736
Hecla Mining Co.
  613,486   3,386,443
Ingevity Corp.(b)
  34,400   2,011,712
Innospec, Inc.
  20,544   1,544,293
Intrepid Potash, Inc.(b)
  190,682   172,777
Kaiser Aluminum Corp.
  18,710   1,159,085
Koppers Holdings, Inc.(b)
  41,289   1,039,244
Kraton Corp.(b)
  135,521   1,782,101
Kronos Worldwide, Inc.
  53,989   606,836
Livent Corp.(b)
  123,764   776,000
LSB Industries, Inc.(b)
  120,468   126,491
Materion Corp.
  26,805   1,539,143
McEwen Mining, Inc. (Canada)(b)
  252,443   348,371
Mercer International, Inc. (Germany)
  99,701   742,772
Minerals Technologies, Inc.
  54,657   2,562,320
Myers Industries, Inc.
  54,097   814,701
Neenah, Inc.
  22,818   1,017,911
NewMarket Corp.
  5,535   2,074,573
Nexa Resourses S.A. (Peru)(c)
  44,448   279,578
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Materials-(continued)
Olympic Steel, Inc.
  42,715   $451,925
Orion Engineered Carbons S.A. (Luxembourg)
  123,219   1,256,834
PH Glatfelter Co.
  97,123   1,547,169
PQ Group Holdings, Inc.(b)
  52,914   649,255
Quaker Chemical Corp.
  5,168   1,002,592
Rayonier Advanced Materials, Inc.
  379,851   1,105,366
Resolute Forest Products, Inc.(b)
  310,814   941,766
Royal Gold, Inc.
  27,765   3,885,157
Ryerson Holding Corp.(b)
  99,504   560,208
Schnitzer Steel Industries, Inc., Class A
  114,241   2,102,034
Schweitzer-Mauduit International, Inc., Class A
  58,655   1,908,047
Sensient Technologies Corp.
  49,876   2,604,026
Southern Copper Corp. (Peru)
  68,434   2,991,250
Stepan Co.
  21,741   2,374,117
SunCoke Energy, Inc.
  248,825   793,752
Tecnoglass, Inc.
  21,083   104,361
TimkenSteel Corp.(b)
  180,398   662,061
Tredegar Corp.
  44,039   699,339
Tronox Holdings PLC, Class A
  226,730   1,727,683
UFP Technologies, Inc.(b)
  5,549   239,384
Universal Stainless & Alloy Products, Inc.(b)
  14,520   104,399
US Concrete, Inc.(b)
  40,993   1,017,446
Valhi, Inc.
  8,062   81,991
Valvoline, Inc.
  116,623   2,393,104
Venator Materials PLC(b)
  154,848   267,887
Verso Corp., Class A
  164,656   2,010,450
W.R. Grace & Co.
  40,819   1,882,981
Worthington Industries, Inc.
  72,932   2,729,115
        81,416,497
Real Estate-5.58%
Acadia Realty Trust
  94,746   1,140,742
Agree Realty Corp.
  18,308   1,226,087
Alexander’s, Inc.
  2,234   562,499
Altisource Portfolio Solutions S.A.(b)
  30,018   403,142
American Assets Trust, Inc.
  32,698   882,846
American Finance Trust, Inc.
  167,046   1,220,271
Americold Realty Trust
  70,714   2,853,310
Armada Hoffler Properties, Inc.
  40,713   392,473
Ashford Hospitality Trust, Inc.(c)
  37,334   146,349
Bluerock Residential Growth REIT, Inc.
  44,259   320,435
Braemar Hotels & Resorts, Inc.
  111,551   272,184
Brookfield Property REIT, Inc., Class A(c)
  135,582   1,574,107
BRT Apartments Corp.
  17,058   176,039
CareTrust REIT, Inc.
  52,128   939,347
CatchMark Timber Trust, Inc., Class A
  59,506   580,779
CBL & Associates Properties, Inc.(b)(c)
  1,876,298   342,987
Cedar Realty Trust, Inc.
  140,064   113,942
Chatham Lodging Trust
  100,299   522,558
City Office REIT, Inc.
  45,693   395,244
Community Healthcare Trust, Inc.
  6,617   302,595
CorEnergy Infrastructure Trust, Inc.
  15,618   136,814
CorePoint Lodging, Inc.
  146,538   819,147
CoreSite Realty Corp.
  15,115   1,950,591
CTO Realty Growth, Inc.
  4,508   178,697
Cushman & Wakefield PLC(b)
  160,279   1,714,985
Easterly Government Properties, Inc.
  47,934   1,171,986
EastGroup Properties, Inc.
  16,638   2,207,197
Empire State Realty Trust, Inc., Class A
  187,798   1,239,467
Equity Commonwealth
  85,774   2,707,885
Essential Properties Realty Trust, Inc.
  26,682   429,580
Farmland Partners, Inc.(c)
  52,226   360,882
First Industrial Realty Trust, Inc.
  69,776   3,064,562
  Shares   Value
Real Estate-(continued)
Forestar Group, Inc.(b)
  12,090   $209,278
Four Corners Property Trust, Inc.
  33,171   835,909
Franklin Street Properties Corp.
  208,810   1,096,252
Front Yard Residential Corp.
  91,509   793,383
Getty Realty Corp.
  29,399   871,092
Gladstone Commercial Corp.
  33,646   612,357
Gladstone Land Corp.
  15,042   241,875
Global Medical REIT, Inc.
  12,261   145,783
Global Net Lease, Inc.
  100,446   1,672,426
Hersha Hospitality Trust
  120,813   575,070
Independence Realty Trust, Inc.
  83,241   957,272
Industrial Logistics Properties Trust
  57,007   1,203,418
Innovative Industrial Properties, Inc.(c)
  1,460   152,176
Investors Real Estate Trust
  19,803   1,431,757
iStar, Inc.
  48,039   557,733
Jernigan Capital, Inc.
  15,770   220,938
Kennedy-Wilson Holdings, Inc.
  123,491   1,832,606
Kite Realty Group Trust
  177,225   1,749,211
LTC Properties, Inc.
  30,753   1,142,474
Mack-Cali Realty Corp.
  137,346   1,980,529
Marcus & Millichap, Inc.(b)
  20,929   570,106
Monmouth Real Estate Investment Corp.
  63,446   915,526
National Health Investors, Inc.
  27,427   1,700,474
National Storage Affiliates Trust
  24,030   740,605
New Senior Investment Group, Inc.
  208,150   707,710
Newmark Group, Inc., Class A
  130,353   530,537
NexPoint Residential Trust, Inc.
  9,837   376,069
One Liberty Properties, Inc.
  18,369   311,722
Pennsylvania REIT(c)
  359,642   424,378
PotlatchDeltic Corp.
  65,583   2,807,608
Preferred Apartment Communities, Inc., Class A
  156,249   1,129,680
PS Business Parks, Inc.
  12,150   1,676,092
QTS Realty Trust, Inc., Class A
  28,297   2,035,969
RE/MAX Holdings, Inc., Class A
  16,224   525,171
Redfin Corp.(b)
  16,560   688,565
Retail Opportunity Investments Corp.
  135,333   1,471,070
Retail Value, Inc.
  18,591   235,362
Rexford Industrial Realty, Inc.
  37,396   1,754,994
RMR Group, Inc. (The), Class A
  10,005   287,744
RPT Realty
  134,925   839,234
Saul Centers, Inc.
  13,739   421,925
Seritage Growth Properties, Class A(b)(c)
  41,110   382,734
St. Joe Co. (The)(b)
  28,512   587,632
STAG Industrial, Inc.
  71,459   2,329,563
Summit Hotel Properties, Inc.
  194,027   1,005,060
Tanger Factory Outlet Centers, Inc.(c)
  243,263   1,564,181
Tejon Ranch Co.(b)
  20,399   292,726
Terreno Realty Corp.
  25,662   1,559,223
UMH Properties, Inc.
  32,444   399,061
Universal Health Realty Income Trust
  4,403   306,361
Urban Edge Properties
  125,531   1,315,565
Urstadt Biddle Properties, Inc., Class A
  36,729   360,311
Washington REIT
  88,986   1,989,727
Whitestone REIT
  65,065   429,429
        81,303,382
Utilities-1.31%
American States Water Co.
  17,949   1,379,919
Atlantic Power Corp.(b)
  215,732   422,835
Atlantica Sustainable Infrastructure PLC (Spain)
  83,624   2,506,211
California Water Service Group
  35,569   1,667,119
Chesapeake Utilities Corp.
  13,074   1,104,622
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
Clearway Energy, Inc., Class A
  37,024   $848,220
Clearway Energy, Inc., Class C
  79,886   1,960,402
Consolidated Water Co. Ltd. (Cayman Islands)
  12,938   158,749
Genie Energy Ltd., Class B
  17,079   138,852
MGE Energy, Inc.
  26,064   1,728,825
Middlesex Water Co.
  8,654   554,375
Northwest Natural Holding Co.
  29,585   1,582,502
Ormat Technologies, Inc.
  23,047   1,371,297
Otter Tail Corp.
  41,755   1,597,129
SJW Group
  18,941   1,183,055
Spark Energy, Inc., Class A
  20,885   157,682
Unitil Corp.
  17,000   733,550
        19,095,344
Total Common Stocks & Other Equity Interests

(Cost $1,537,955,441)
  1,456,621,282
Money Market Funds-0.06%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(e)(f)

(Cost $862,274)
  862,274   862,274
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.05%

(Cost $1,538,817,715)
  1,457,483,556
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-6.32%
Invesco Private Government Fund, 0.06%(e)(f)(g)
  69,031,716   $69,031,716
Invesco Private Prime Fund, 0.15%(e)(f)(g)
  23,009,290   23,013,891
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $92,044,252)
  92,045,607
TOTAL INVESTMENTS IN SECURITIES-106.37%

(Cost $1,630,861,967)
  1,549,529,163
OTHER ASSETS LESS LIABILITIES-(6.37)%
  (92,793,629)
NET ASSETS-100.00%
  $1,456,735,534
 
Investment Abbreviations:
REIT -Real Estate Investment Trust
    
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) Security valued using significant unobservable inputs (Level 3). See Note 1.
(e) 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 $533,547   $8,043,934   $(7,715,207)   $-   $-   $862,274   $350
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 82,213,293   93,926,209   (107,107,786)   -   -   69,031,716   6,638
Invesco Private Prime Fund -   38,137,786   (15,126,307)   1,355   1,057   23,013,891   3,493
Total $82,746,840   $140,107,929   $(129,949,300)   $1,355   $1,057   $92,907,881   $10,481
    
(f) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(g) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Notes to Quarterly Schedules of Portfolio Holdings
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.
The following is a summary of the tiered valuation input levels, as of July 31, 2020. 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 Market ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $126,564,342   $-   $-   $126,564,342
Money Market Funds 145,294   1,520,817   -   1,666,111
Total Investments $126,709,636   $1,520,817   $-   $128,230,453
Invesco FTSE RAFI US 1000 ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $3,873,545,557   $-   $-   $3,873,545,557
Money Market Funds 1,424,845   23,475,060   -   24,899,905
Total Investments $3,874,970,402   $23,475,060   $-   $3,898,445,462
Invesco FTSE RAFI US 1500 Small-Mid ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,456,329,268   $-   $292,014   $1,456,621,282
Money Market Funds 862,274   92,045,607   -   92,907,881
Total Investments $1,457,191,542   $92,045,607   $292,014   $1,549,529,163
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.