NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco BuyBack AchieversTM ETF (PKW)
January 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.84%
Communication Services-7.71%
Charter Communications, Inc., Class A(b)(c)
  51,806   $19,909,564
Comcast Corp., Class A
  1,435,629   56,492,002
Cumulus Media, Inc., Class A(b)
  5,895   39,496
Liberty Broadband Corp., Class C(b)
  42,362   3,803,260
Liberty Latin America Ltd., Class C(b)
  57,032   561,765
Nexstar Media Group, Inc., Class A
  12,549   2,569,659
Outbrain, Inc.(b)
  17,490   86,051
Playtika Holding Corp.(b)
  120,177   1,260,657
Sinclair Broadcast Group, Inc., Class A
  15,259   314,793
TrueCar, Inc.(b)
  29,323   91,488
        85,128,735
Consumer Discretionary-22.37%
Abercrombie & Fitch Co., Class A(b)(c)
  16,307   472,251
Academy Sports & Outdoors, Inc.
  26,006   1,519,271
Accel Entertainment, Inc.(b)
  29,108   268,376
Adtalem Global Education, Inc.(b)
  15,110   576,900
AutoNation, Inc.(b)(c)
  16,497   2,090,500
AutoZone, Inc.(b)
  6,245   15,230,618
Bally’s Corp.(b)
  15,728   312,515
Bassett Furniture Industries, Inc.
  3,047   58,990
Bath & Body Works, Inc.
  76,013   3,497,358
Bed Bath & Beyond, Inc.(b)(c)
  39,036   110,082
Best Buy Co., Inc.
  73,634   6,532,808
Big Lots, Inc.(c)
  9,637   157,661
Bluegreen Vacations Holding Corp.
  5,361   173,911
Booking Holdings, Inc.(b)
  12,909   31,421,797
Boyd Gaming Corp.
  34,735   2,164,338
Brunswick Corp.
  24,129   2,034,799
Build-A-Bear Workshop, Inc.(b)
  4,909   120,565
Caleres, Inc.
  11,853   308,415
Capri Holdings Ltd.(b)
  43,625   2,900,626
Carriage Services, Inc.
  4,897   158,761
Carter’s, Inc.
  12,700   1,058,799
Cato Corp. (The), Class A
  6,366   63,278
Century Communities, Inc.
  10,573   647,068
Chegg, Inc.(b)
  41,757   866,875
Children’s Place, Inc. (The)(b)
  4,069   184,611
Chuy’s Holdings, Inc.(b)
  5,989   205,003
Conn’s, Inc.(b)
  7,969   74,988
Cracker Barrel Old Country Store, Inc.
  7,388   824,353
Darden Restaurants, Inc.
  40,729   6,026,670
Denny’s Corp.(b)
  19,046   228,933
Designer Brands, Inc., Class A
  18,603   191,797
Dillard’s, Inc., Class A(c)
  4,372   1,719,551
Dine Brands Global, Inc.
  5,218   403,404
eBay, Inc.
  180,590   8,939,205
Foot Locker, Inc.
  31,056   1,351,247
Franchise Group, Inc.
  12,714   392,735
Genesco, Inc.(b)
  4,196   202,625
Grand Canyon Education, Inc.(b)
  10,365   1,208,144
Green Brick Partners, Inc.(b)
  15,321   478,015
Group 1 Automotive, Inc.
  4,852   1,037,600
Guess?, Inc.
  18,120   419,840
H&R Block, Inc.
  51,738   2,016,747
Haverty Furniture Cos., Inc., (Acquired 01/31/2023 - 01/31/2023; Cost $172,781)(d)
  4,947   172,749
Hibbett, Inc.(c)
  4,236   281,101
Hooker Furnishings Corp.
  3,771   79,417
JELD-WEN Holding, Inc.(b)
  28,066   355,035
Kohl’s Corp.
  36,768   1,190,180
  Shares   Value
Consumer Discretionary-(continued)
Laureate Education, Inc., Class A(c)
  52,146   $572,563
Lazydays Holdings, Inc.(b)
  3,506   46,244
Lennar Corp., Class A
  84,783   8,681,779
LKQ Corp.
  88,912   5,242,251
Lowe’s Cos., Inc.
  201,237   41,907,605
M/I Homes, Inc.(b)
  9,128   545,854
Macy’s, Inc.
  90,222   2,131,946
Marriott Vacations Worldwide Corp.
  12,752   2,040,830
MasterCraft Boat Holdings, Inc.(b)
  5,925   170,403
MGM Resorts International
  127,797   5,292,074
Mohawk Industries, Inc.(b)
  21,143   2,538,429
Monro, Inc.
  10,468   532,821
Murphy USA, Inc.
  7,519   2,045,394
NVR, Inc.(b)
  1,064   5,607,280
ODP Corp. (The)(b)
  15,245   786,642
O’Reilly Automotive, Inc.(b)
  20,824   16,499,896
Oxford Industries, Inc.
  5,248   615,171
Penske Automotive Group, Inc.
  23,729   3,033,041
PulteGroup, Inc.
  75,815   4,313,115
PVH Corp.
  21,089   1,895,901
Ralph Lauren Corp.
  13,675   1,693,649
Red Rock Resorts, Inc., Class A
  19,302   868,783
Rent-A-Center, Inc.
  18,526   498,164
Sally Beauty Holdings, Inc.(b)
  35,622   554,991
SeaWorld Entertainment, Inc.(b)
  21,261   1,326,474
Service Corp. International
  51,184   3,795,294
Signet Jewelers Ltd.
  15,121   1,161,444
Sonic Automotive, Inc., Class A
  8,169   438,757
Sportsman’s Warehouse Holdings, Inc.(b)
  12,545   118,299
Tapestry, Inc.
  80,189   3,654,213
Taylor Morrison Home Corp., Class A(b)(c)
  36,056   1,290,805
Tempur Sealy International, Inc.
  56,901   2,318,716
Tile Shop Holdings, Inc.(b)
  14,763   73,815
Toll Brothers, Inc.
  36,848   2,192,088
Travel + Leisure Co.
  27,049   1,146,066
Tri Pointe Homes, Inc.(b)
  33,583   741,848
Tupperware Brands Corp.(b)
  14,802   65,573
Ulta Beauty, Inc.(b)
  16,932   8,702,371
Urban Outfitters, Inc.(b)
  30,675   840,188
Vera Bradley, Inc.(b)
  10,275   61,136
Victoria’s Secret & Co.(b)
  26,898   1,133,751
Whirlpool Corp.
  18,130   2,820,847
Williams-Sonoma, Inc.
  22,153   2,989,326
Winmark Corp.
  1,144   321,235
Winnebago Industries, Inc.
  10,164   647,244
Wyndham Hotels & Resorts, Inc.
  29,393   2,278,251
Zumiez, Inc.(b)(c)
  6,486   167,533
        247,130,612
Consumer Staples-0.50%
Edgewell Personal Care Co.
  17,187   736,635
Hain Celestial Group, Inc. (The)(b)(c)
  29,722   609,895
Herbalife Nutrition Ltd.(b)(c)
  32,574   572,325
Medifast, Inc.
  3,636   405,232
Post Holdings, Inc.(b)
  19,550   1,856,273
Seneca Foods Corp., Class A(b)
  1,956   122,250
Sprouts Farmers Market, Inc.(b)
  35,226   1,125,471
Turning Point Brands, Inc.
  5,845   135,662
        5,563,743
Energy-10.03%
APA Corp.
  106,995   4,743,088
California Resources Corp.
  24,450   1,044,749
See accompanying notes which are an integral part of this schedule.
Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Energy-(continued)
CNX Resources Corp.(b)(c)
  60,060   $1,004,804
ConocoPhillips
  414,675   50,536,442
Delek US Holdings, Inc.
  23,193   620,645
Magnolia Oil & Gas Corp., Class A(c)
  62,394   1,473,122
Marathon Oil Corp.
  211,342   5,805,565
Marathon Petroleum Corp.
  155,964   20,044,493
PDC Energy, Inc.
  30,664   2,076,873
Range Resources Corp.
  80,413   2,011,933
Valero Energy Corp.
  128,297   17,965,429
Western Midstream Partners L.P.
  128,318   3,467,152
        110,794,295
Financials-20.62%
Acacia Research Corp.(b)
  14,490   63,176
Affiliated Managers Group, Inc.
  12,536   2,165,469
Aflac, Inc.
  206,923   15,208,840
Allstate Corp. (The)
  88,258   11,338,505
Ally Financial, Inc.
  99,386   3,229,051
Amerant Bancorp, Inc.
  11,240   312,922
American Equity Investment Life Holding Co.
  28,521   1,359,026
American International Group, Inc.
  247,254   15,631,398
Assurant, Inc.
  17,582   2,331,197
Assured Guaranty Ltd.
  19,965   1,249,809
Bank OZK
  39,123   1,786,747
BankUnited, Inc.
  25,714   967,875
Berkshire Hills Bancorp, Inc.
  14,984   465,253
Brighthouse Financial, Inc.(b)
  23,005   1,294,491
Brightsphere Investment Group, Inc.
  13,789   323,352
Cannae Holdings, Inc.(b)
  25,964   634,560
Capital One Financial Corp.
  127,024   15,115,856
Carter Bankshares, Inc.(b)
  8,023   133,342
CNO Financial Group, Inc.
  38,072   980,735
Credit Acceptance Corp.(b)(c)
  4,301   1,989,815
Discover Financial Services
  90,926   10,613,792
Donnelley Financial Solutions, Inc.(b)
  9,685   441,733
Eastern Bankshares, Inc.
  58,796   950,731
Encore Capital Group, Inc.(b)
  7,782   433,613
Enova International, Inc.(b)
  10,469   477,910
Equitable Holdings, Inc.
  123,145   3,949,260
Equity Bancshares, Inc., Class A
  5,304   158,324
Federated Hermes, Inc., Class B
  29,613   1,163,791
First American Financial Corp.
  34,457   2,131,855
First Bancorp
  61,436   826,314
First Financial Corp.(c)
  4,001   179,725
First Internet Bancorp
  3,075   80,842
Great Southern Bancorp, Inc.
  4,065   237,559
HarborOne Bancorp, Inc.
  16,369   223,273
Hartford Financial Services Group, Inc. (The)
  105,859   8,215,717
HCI Group, Inc.
  2,914   146,312
Hilltop Holdings, Inc.
  21,495   702,886
HomeStreet, Inc.
  6,231   171,789
Jefferies Financial Group, Inc.
  76,205   2,993,332
Kearny Financial Corp.
  22,486   210,919
Lincoln National Corp.
  56,313   1,995,170
Loews Corp.
  79,012   4,857,658
MetLife, Inc.
  261,106   19,065,960
MFA Financial, Inc.
  33,877   402,798
MGIC Investment Corp.
  98,846   1,395,706
Morgan Stanley
  562,445   54,742,772
Mr. Cooper Group, Inc.(b)
  23,483   1,079,983
Navient Corp.(c)
  45,131   856,135
Northrim BanCorp, Inc.
  1,892   101,279
Ocwen Financial Corp.(b)
  2,526   90,936
  Shares   Value
Financials-(continued)
OneMain Holdings, Inc.
  40,670   $1,754,504
Oppenheimer Holdings, Inc., Class A
  3,616   172,158
Pathward Financial, Inc.
  9,473   470,050
PennyMac Financial Services, Inc.(c)
  16,666   1,123,622
PennyMac Mortgage Investment Trust
  29,594   451,308
Popular, Inc.
  24,192   1,660,539
PRA Group, Inc.(b)
  12,971   521,953
Primerica, Inc.
  12,279   1,986,128
Principal Financial Group, Inc.
  81,427   7,536,069
PROG Holdings, Inc.(b)
  16,650   371,128
Radian Group, Inc.
  52,256   1,154,858
RenaissanceRe Holdings Ltd. (Bermuda)
  14,543   2,845,920
SLM Corp.
  83,262   1,462,913
Synchrony Financial
  149,934   5,507,076
Virtu Financial, Inc., Class A
  33,213   641,343
Voya Financial, Inc.(c)
  32,338   2,256,222
Waterstone Financial, Inc.
  7,385   118,898
WesBanco, Inc.
  19,686   731,729
White Mountains Insurance Group Ltd.
  857   1,309,462
World Acceptance Corp.(b)
  2,082   199,289
        227,754,662
Health Care-15.77%
Amgen, Inc.
  177,568   44,818,163
AMN Healthcare Services, Inc.(b)
  14,422   1,382,204
Cardinal Health, Inc.
  87,235   6,738,904
Cigna Corp.
  101,746   32,219,906
Corcept Therapeutics, Inc.(b)
  35,824   818,937
DaVita, Inc.(b)
  29,984   2,470,382
Emergent BioSolutions, Inc.(b)
  16,602   218,980
HCA Healthcare, Inc.
  94,084   23,998,006
Ironwood Pharmaceuticals, Inc.(b)
  51,048   588,073
Laboratory Corp. of America Holdings
  29,485   7,433,758
McKesson Corp.
  47,187   17,868,773
Medpace Holdings, Inc.(b)
  10,350   2,288,074
Moderna, Inc.(b)
  127,850   22,509,271
Quest Diagnostics, Inc.
  37,900   5,627,392
Select Medical Holdings Corp.
  42,258   1,228,440
Theravance Biopharma, Inc.(b)
  22,418   242,339
Universal Health Services, Inc., Class B
  21,351   3,164,432
Veradigm, Inc.(b)(c)
  36,360   651,208
        174,267,242
Industrials-6.07%
Acuity Brands, Inc.
  10,675   2,012,451
Allison Transmission Holdings, Inc.
  30,780   1,387,562
Apogee Enterprises, Inc.
  7,392   346,241
Argan, Inc.
  4,518   176,157
Atkore, Inc.(b)
  13,217   1,721,514
Avis Budget Group, Inc.(b)
  13,799   2,760,352
Barrett Business Services, Inc.
  2,317   230,263
Beacon Roofing Supply, Inc.(b)
  21,652   1,231,566
BlueLinx Holdings, Inc.(b)
  3,007   261,068
BrightView Holdings, Inc.(b)
  30,949   246,045
Brink’s Co. (The)
  15,458   1,014,045
Builders FirstSource, Inc.(b)
  48,978   3,903,547
C.H. Robinson Worldwide, Inc.
  39,172   3,923,859
Covenant Logistics Group, Inc., Class A
  3,709   122,990
EMCOR Group, Inc.
  15,859   2,351,097
Encore Wire Corp.
  6,104   985,369
Enerpac Tool Group Corp.
  18,960   503,198
Expeditors International of Washington, Inc.
  52,958   5,727,408
Fortune Brands Innovations, Inc.
  42,603   2,748,320
 
See accompanying notes which are an integral part of this schedule.
Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
Gibraltar Industries, Inc.(b)
  10,307   $552,146
Hayward Holdings, Inc.(b)
  70,310   948,482
HNI Corp.
  13,765   437,314
Huron Consulting Group, Inc.(b)
  6,634   451,377
KAR Auction Services, Inc.(b)(c)
  36,243   527,698
Landstar System, Inc.
  11,955   2,066,183
ManpowerGroup, Inc.
  16,825   1,466,467
Masco Corp.(c)
  75,053   3,992,820
Matson, Inc.
  12,573   831,327
Owens Corning
  31,101   3,005,912
RCM Technologies, Inc.(b)(c)
  3,275   43,721
REV Group, Inc.
  19,920   255,175
Ryder System, Inc.
  16,723   1,578,818
SP Plus Corp.(b)
  6,711   253,072
Stanley Black & Decker, Inc.
  49,233   4,396,999
Textron, Inc.
  69,476   5,061,327
TriNet Group, Inc.(b)
  20,709   1,562,494
Trinity Industries, Inc.(c)
  27,090   779,379
TrueBlue, Inc.(b)
  10,888   213,731
Veritiv Corp.(c)
  4,487   561,054
Werner Enterprises, Inc.
  21,033   987,920
WillScot Mobile Mini Holdings Corp.(b)
  69,516   3,368,745
Woodward, Inc.
  19,880   2,032,929
        67,028,142
Information Technology-8.15%
A10 Networks, Inc.
  24,442   378,362
Arrow Electronics, Inc.(b)
  20,469   2,404,903
Avnet, Inc.
  30,456   1,397,321
Dell Technologies, Inc., Class C
  80,633   3,275,313
DigitalOcean Holdings, Inc.(b)
  32,046   940,550
Dolby Laboratories, Inc., Class A
  19,971   1,588,893
Dropbox, Inc., Class A(b)
  93,317   2,167,754
DXC Technology Co.(b)
  76,563   2,199,655
Euronet Worldwide, Inc.(b)
  16,504   1,859,671
EVERTEC, Inc.
  21,698   801,524
Fair Isaac Corp.(b)
  8,312   5,535,376
FleetCor Technologies, Inc.(b)
  24,544   5,125,033
Global Payments, Inc.
  89,986   10,143,222
GoDaddy, Inc., Class A(b)
  51,604   4,238,237
HP, Inc.
  326,845   9,524,263
IPG Photonics Corp.(b)
  16,211   1,817,253
Jabil, Inc.
  44,670   3,512,402
KLA Corp.
  47,162   18,510,142
Kulicke & Soffa Industries, Inc. (Singapore)
  18,975   969,623
Lumentum Holdings, Inc.(b)
  22,696   1,365,845
OSI Systems, Inc.(b)
  5,609   531,228
Power Integrations, Inc.
  19,035   1,638,723
Qorvo, Inc.(b)
  33,741   3,666,297
Sanmina Corp.(b)
  19,112   1,164,494
Silicon Laboratories, Inc.(b)(c)
  11,076   1,737,935
Teradata Corp.(b)
  33,878   1,181,665
Vontier Corp.
  52,578   1,210,871
Xerox Holdings Corp.
  51,532   844,094
Yext, Inc.(b)
  40,633   282,399
        90,013,048
Materials-6.29%
Alcoa Corp.
  58,882   3,075,996
Alpha Metallurgical Resources, Inc.
  5,306   853,895
Berry Global Group, Inc.
  41,299   2,549,387
CF Industries Holdings, Inc.
  65,289   5,529,978
Chemours Co. (The)
  50,223   1,827,615
  Shares   Value
Materials-(continued)
Crown Holdings, Inc.
  39,916   $3,518,995
Eagle Materials, Inc.
  12,261   1,791,087
Eastman Chemical Co.
  39,931   3,520,716
Huntsman Corp.
  63,928   2,025,878
International Paper Co.
  118,362   4,949,899
Louisiana-Pacific Corp.(c)
  23,859   1,624,559
LSB Industries, Inc.(b)
  27,287   346,818
Mosaic Co. (The)
  113,307   5,613,229
NewMarket Corp.
  3,285   1,131,715
Nucor Corp.
  85,374   14,429,914
Olin Corp.
  45,579   2,943,948
Reliance Steel & Aluminum Co.
  19,532   4,442,553
Steel Dynamics, Inc.
  58,428   7,048,754
United States Steel Corp.
  77,962   2,221,137
        69,446,073
Real Estate-1.83%
Anywhere Real Estate, Inc.(b)
  36,433   308,952
CBRE Group, Inc., Class A(b)
  105,143   8,990,778
City Office REIT, Inc.
  13,218   130,065
Empire State Realty Trust, Inc., Class A
  53,389   445,264
Equity Commonwealth
  36,416   929,336
Howard Hughes Corp. (The)(b)
  16,606   1,419,647
Hudson Pacific Properties, Inc.
  46,897   534,157
JBG SMITH Properties
  37,867   762,642
Jones Lang LaSalle, Inc.(b)
  15,795   2,920,022
National Health Investors, Inc.
  14,439   849,446
Newmark Group, Inc., Class A
  50,102   429,374
Zillow Group, Inc., Class C(b)
  57,676   2,549,856
        20,269,539
Utilities-0.50%
NRG Energy, Inc.
  71,013   2,430,065
Vistra Corp.
  132,434   3,053,928
        5,483,993
Total Common Stocks & Other Equity Interests

(Cost $1,106,762,456)
  1,102,880,084
Money Market Funds-0.15%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%(e)(f)

(Cost $1,671,184)
  1,671,184   1,671,184
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.99%

(Cost $1,108,433,640)
  1,104,551,268
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-8.37%
Invesco Private Government Fund, 4.36%(e)(f)(g)
  25,898,910   25,898,910
 
See accompanying notes which are an integral part of this schedule.
Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.59%(e)(f)(g)
  66,592,585   $66,612,562
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $92,511,318)
  92,511,472
TOTAL INVESTMENTS IN SECURITIES-108.36%

(Cost $1,200,944,958)
  1,197,062,740
OTHER ASSETS LESS LIABILITIES-(8.36)%
  (92,375,654)
NET ASSETS-100.00%
  $1,104,687,086
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 January 31, 2023.
(d) Restricted security. The value of this security at January 31, 2023 represented less than 1% of the Fund’s Net Assets.
(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 nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $1,613,071   $24,115,150   $(24,057,037)   $-   $-   $1,671,184   $26,034
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 44,257,780   244,652,370   (263,011,240)   -   -   25,898,910   663,114*
Invesco Private Prime Fund 103,222,386   535,708,599   (572,350,767)   (7,268)   39,612   66,612,562   1,823,708*
Total $149,093,237   $804,476,119   $(859,419,044)   $(7,268)   $39,612   $94,182,656   $2,512,856
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(f) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(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.
Schedule of Investments(a)
Invesco Dividend AchieversTM ETF (PFM)
January 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.03%
Communication Services-2.13%
Comcast Corp., Class A
  183,067   $7,203,687
John Wiley & Sons, Inc., Class A
  1,989   91,096
Telephone & Data Systems, Inc.(b)
  4,532   60,593
Verizon Communications, Inc.
  178,202   7,407,857
        14,763,233
Consumer Discretionary-7.33%
Best Buy Co., Inc.
  9,580   849,938
Churchill Downs, Inc.
  1,685   418,048
Dillard’s, Inc., Class A(b)
  602   236,773
Gentex Corp.
  10,023   295,779
Genuine Parts Co.
  6,029   1,011,787
Home Depot, Inc. (The)
  43,335   14,047,907
Leggett & Platt, Inc.
  5,654   206,710
Lithia Motors, Inc., Class A(b)
  1,228   323,210
Lowe’s Cos., Inc.
  25,670   5,345,777
McDonald’s Corp.
  31,206   8,344,484
Monro, Inc.(b)
  1,436   73,092
NIKE, Inc., Class B
  53,712   6,839,149
PetMed Express, Inc.(b)
  935   20,084
Polaris, Inc.(b)
  2,562   294,220
Pool Corp.(b)
  1,765   680,602
Service Corp. International(b)
  6,665   494,210
Starbucks Corp.
  49,013   5,349,279
Target Corp.
  19,514   3,359,140
Thor Industries, Inc.(b)
  2,350   224,025
Tractor Supply Co.
  4,676   1,066,081
VF Corp.
  16,496   510,386
Whirlpool Corp.(b)
  2,337   363,614
Williams-Sonoma, Inc.(b)
  2,884   389,167
        50,743,462
Consumer Staples-13.45%
Altria Group, Inc.
  76,526   3,446,731
Andersons, Inc. (The)
  1,499   55,133
Archer-Daniels-Midland Co.
  23,146   1,917,646
Brown-Forman Corp., Class B
  13,175   877,192
Casey’s General Stores, Inc.
  1,661   391,847
Church & Dwight Co., Inc.
  10,282   831,403
Clorox Co. (The)
  5,217   754,848
Coca-Cola Co. (The)
  183,700   11,264,484
Colgate-Palmolive Co.
  35,458   2,642,685
Costco Wholesale Corp.
  18,860   9,640,100
Flowers Foods, Inc.
  8,986   248,822
Hershey Co. (The)
  6,271   1,408,467
Hormel Foods Corp.
  23,155   1,049,153
Ingredion, Inc.
  2,794   287,223
J&J Snack Foods Corp.(b)
  854   122,378
JM Smucker Co. (The)
  4,565   697,532
Kellogg Co.
  14,431   989,678
Kimberly-Clark Corp.
  14,320   1,861,743
Kroger Co. (The)
  30,437   1,358,403
Lancaster Colony Corp.(b)
  1,228   235,666
McCormick & Co., Inc.
  10,618   797,624
Nu Skin Enterprises, Inc., Class A
  2,154   92,364
PepsiCo, Inc.
  58,672   10,034,085
Philip Morris International, Inc.
  65,761   6,854,927
Procter & Gamble Co. (The)
  100,732   14,342,222
SpartanNash Co.
  1,602   50,751
Sysco Corp.
  21,466   1,662,756
Tootsie Roll Industries, Inc.(b)
  1,793   80,201
Tyson Foods, Inc., Class A
  12,272   806,884
  Shares   Value
Consumer Staples-(continued)
Universal Corp.
  1,089   $59,209
Walgreens Boots Alliance, Inc.
  36,699   1,352,725
Walmart, Inc.
  116,714   16,791,643
WD-40 Co.(b)
  604   105,422
        93,111,947
Energy-5.41%
Chevron Corp.
  82,197   14,303,922
Enterprise Products Partners L.P.
  92,574   2,369,894
Exxon Mobil Corp.
  174,977   20,299,082
Magellan Midstream Partners L.P.
  8,802   470,027
        37,442,925
Financials-13.68%
1st Source Corp.
  1,097   53,961
Aflac, Inc.
  26,294   1,932,609
Allstate Corp. (The)
  11,195   1,438,222
American Equity Investment Life Holding Co.
  3,724   177,449
American Financial Group, Inc.
  3,614   515,320
Ameriprise Financial, Inc.
  4,509   1,578,691
Aon PLC, Class A
  8,745   2,786,857
Arthur J. Gallagher & Co.
  8,920   1,745,822
Associated Banc-Corp
  6,424   143,962
Assurant, Inc.
  2,280   302,305
Assured Guaranty Ltd.
  2,668   167,017
Atlantic Union Bankshares Corp.
  3,149   121,835
AXIS Capital Holdings Ltd.(b)
  3,586   224,376
BancFirst Corp.
  1,462   125,922
Bank of Marin Bancorp
  707   21,542
Bank of New York Mellon Corp. (The)
  34,288   1,733,944
Bank OZK
  5,001   228,396
BlackRock, Inc.
  6,445   4,893,108
BOK Financial Corp.
  2,844   285,822
Brown & Brown, Inc.
  12,044   705,297
Cboe Global Markets, Inc.
  4,543   558,244
Chubb Ltd.
  17,705   4,027,710
Cincinnati Financial Corp.
  6,733   761,839
City Holding Co.(b)
  661   62,656
CME Group, Inc., Class A
  15,290   2,701,131
Cohen & Steers, Inc.(b)
  2,079   152,744
Commerce Bancshares, Inc.
  5,336   355,164
Community Bank System, Inc.(b)
  2,300   132,733
Community Trust Bancorp, Inc.
  791   34,076
Cullen/Frost Bankers, Inc.(b)
  2,765   360,224
Discover Financial Services
  11,628   1,357,336
Erie Indemnity Co., Class A(b)
  1,967   480,636
Evercore, Inc., Class A
  1,745   226,518
FactSet Research Systems, Inc.
  1,693   716,037
Federal Agricultural Mortgage Corp., Class C
  409   54,385
Fidelity National Financial, Inc.
  11,767   518,101
Fifth Third Bancorp
  29,127   1,057,019
Financial Institutions, Inc.(b)
  667   16,482
First American Financial Corp.(b)
  4,459   275,878
First Community Bankshares, Inc.(b)
  717   23,310
First Financial Bankshares, Inc.
  6,079   216,534
First Financial Corp.
  542   24,347
First Merchants Corp.
  2,559   109,116
First of Long Island Corp. (The)
  1,005   17,748
Franklin Resources, Inc.
  21,237   662,594
Globe Life, Inc.
  4,160   502,736
Goldman Sachs Group, Inc. (The)
  14,339   5,245,350
Hanover Insurance Group, Inc. (The)
  1,589   213,848
Heritage Financial Corp.
  1,555   44,364
See accompanying notes which are an integral part of this schedule.
Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Financials-(continued)
Hingham Institution for Savings (The)(b)
  95   $27,772
Home BancShares, Inc.
  8,674   207,048
Horace Mann Educators Corp.
  1,835   65,344
Horizon Bancorp, Inc.(b)
  1,876   29,341
Huntington Bancshares, Inc.
  61,272   929,496
Independent Bank Corp.
  1,954   155,714
International Bancshares Corp.
  2,681   125,659
JPMorgan Chase & Co.
  124,899   17,480,864
KeyCorp
  39,658   761,037
Lakeland Bancorp, Inc.
  2,795   53,860
Lakeland Financial Corp.(b)
  1,132   80,044
Lincoln National Corp.
  7,223   255,911
MarketAxess Holdings, Inc.
  1,678   610,540
Marsh & McLennan Cos., Inc.
  21,237   3,714,564
Moody’s Corp.
  7,813   2,521,646
Morningstar, Inc.(b)
  1,893   459,772
Northwest Bancshares, Inc.
  5,356   75,734
Old Republic International Corp.
  13,131   346,527
PNC Financial Services Group, Inc. (The)
  17,058   2,821,905
Premier Financial Corp.
  1,568   39,231
Primerica, Inc.(b)
  1,670   270,123
Principal Financial Group, Inc.
  10,563   977,606
Prosperity Bancshares, Inc.
  3,896   295,551
Prudential Financial, Inc.
  15,758   1,653,645
Raymond James Financial, Inc.
  9,164   1,033,424
Reinsurance Group of America, Inc.
  2,806   425,867
RenaissanceRe Holdings Ltd. (Bermuda)
  1,857   363,396
Republic Bancorp, Inc., Class A(b)
  788   35,444
RLI Corp.
  1,931   255,761
S&P Global, Inc.
  13,860   5,196,668
Sandy Spring Bancorp, Inc.
  1,908   64,490
SEI Investments Co.
  5,765   359,909
Simmons First National Corp., Class A(b)
  5,446   121,500
South State Corp.
  3,191   254,004
Southern Missouri Bancorp, Inc.(b)
  411   19,901
Southside Bancshares, Inc.(b)
  1,424   53,941
State Street Corp.
  15,654   1,429,680
Stock Yards Bancorp, Inc.(b)
  1,305   78,248
T. Rowe Price Group, Inc.(b)
  9,603   1,118,461
Tompkins Financial Corp.
  642   48,362
Towne Bank(b)
  3,075   93,695
Travelers Cos., Inc. (The)
  9,967   1,904,893
Truist Financial Corp.
  56,387   2,784,954
U.S. Bancorp
  63,124   3,143,575
UMB Financial Corp.(b)
  2,061   185,882
United Bankshares, Inc.
  5,731   230,386
Unum Group
  8,473   356,120
W.R. Berkley Corp.
  11,276   790,899
Washington Federal, Inc.
  2,753   97,621
Washington Trust Bancorp, Inc.(b)
  767   32,805
WesBanco, Inc.
  2,590   96,270
Westamerica Bancorporation
  1,192   66,228
        94,692,635
Health Care-15.66%
Abbott Laboratories
  74,320   8,216,076
AmerisourceBergen Corp.
  8,783   1,483,976
Amgen, Inc.
  22,781   5,749,924
Atrion Corp.(b)
  79   54,297
Becton, Dickinson and Co.
  12,075   3,045,556
Bristol-Myers Squibb Co.
  90,652   6,585,868
Cardinal Health, Inc.
  10,963   846,892
Chemed Corp.
  662   334,403
  Shares   Value
Health Care-(continued)
Elevance Health, Inc.
  10,176   $5,087,898
Ensign Group, Inc. (The)
  2,369   220,909
Humana, Inc.
  5,368   2,746,806
Johnson & Johnson
  111,307   18,189,790
LeMaitre Vascular, Inc.(b)
  974   45,953
McKesson Corp.
  6,023   2,280,790
Medtronic PLC
  56,337   4,714,843
Merck & Co., Inc.
  107,977   11,597,810
National HealthCare Corp.
  684   40,725
Perrigo Co. PLC
  5,726   214,267
Pfizer, Inc.
  238,427   10,528,936
Quest Diagnostics, Inc.
  4,925   731,264
STERIS PLC
  4,274   882,624
Stryker Corp.
  16,043   4,071,874
UnitedHealth Group, Inc.
  39,753   19,844,300
West Pharmaceutical Services, Inc.
  3,119   828,406
        108,344,187
Industrials-11.95%
3M Co.
  23,418   2,694,943
A.O. Smith Corp.
  5,453   369,168
ABM Industries, Inc.
  2,789   130,832
Apogee Enterprises, Inc.
  985   46,137
Applied Industrial Technologies, Inc.
  1,716   245,748
Brady Corp., Class A
  1,980   105,871
C.H. Robinson Worldwide, Inc.(b)
  4,828   483,621
Carlisle Cos., Inc.
  2,213   555,153
Caterpillar, Inc.
  22,201   5,601,090
Cintas Corp.
  4,365   1,936,925
CSX Corp.
  89,134   2,756,023
Cummins, Inc.
  6,010   1,499,735
Donaldson Co., Inc.
  5,204   324,469
Douglas Dynamics, Inc.(b)
  1,016   41,057
Dover Corp.
  6,127   930,262
Eaton Corp. PLC
  16,932   2,746,540
Emerson Electric Co.
  25,091   2,263,710
Expeditors International of Washington, Inc.
  6,928   749,263
Fastenal Co.
  24,428   1,234,835
Franklin Electric Co., Inc.
  1,972   178,072
GATX Corp.(b)
  1,577   180,488
General Dynamics Corp.
  11,675   2,720,976
Gorman-Rupp Co. (The)
  1,157   33,241
Graco, Inc.
  7,174   490,128
Griffon Corp.
  2,438   99,665
Healthcare Services Group, Inc.
  3,131   42,175
HEICO Corp.
  2,337   399,510
Hillenbrand, Inc.
  2,915   136,597
HNI Corp.(b)
  1,842   58,520
Honeywell International, Inc.
  28,539   5,949,811
Hubbell, Inc.
  2,300   526,493
IDEX Corp.
  3,183   762,901
Illinois Tool Works, Inc.(b)
  13,162   3,106,759
Insperity, Inc.(b)
  1,695   187,382
ITT, Inc.
  3,504   320,931
J.B. Hunt Transport Services, Inc.
  4,443   839,949
L3Harris Technologies, Inc.
  8,163   1,753,576
Lennox International, Inc.(b)
  1,580   411,780
Lincoln Electric Holdings, Inc.(b)
  2,489   415,339
Lindsay Corp.
  485   75,961
Lockheed Martin Corp.
  11,127   5,154,694
ManpowerGroup, Inc.
  2,214   192,972
Matthews International Corp., Class A
  1,388   51,412
McGrath RentCorp
  1,088   108,300
 
See accompanying notes which are an integral part of this schedule.
Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
MDU Resources Group, Inc.
  8,600   $265,826
MSA Safety, Inc.
  1,744   237,864
Nordson Corp.
  2,459   598,275
Northrop Grumman Corp.
  6,476   2,901,507
Raytheon Technologies Corp.
  62,689   6,259,497
Regal Rexnord Corp.
  2,783   387,394
Republic Services, Inc.
  13,442   1,677,830
Robert Half International, Inc.
  4,612   387,224
Rockwell Automation, Inc.(b)
  4,873   1,374,332
Ryder System, Inc.(b)
  2,190   206,758
Snap-on, Inc.(b)
  2,281   567,353
Standex International Corp.
  533   61,599
Stanley Black & Decker, Inc.
  6,313   563,814
Tennant Co.
  821   57,577
Toro Co. (The)
  4,477   499,275
Trane Technologies PLC
  9,871   1,768,094
Trinity Industries, Inc.(b)
  3,473   99,918
Union Pacific Corp.
  26,122   5,333,851
United Parcel Service, Inc., Class B
  31,122   5,764,728
W.W. Grainger, Inc.
  2,176   1,282,708
Waste Management, Inc.
  17,380   2,689,207
Xylem, Inc.
  7,666   797,341
        82,694,986
Information Technology-20.70%
Accenture PLC, Class A
  26,776   7,471,843
Amphenol Corp., Class A
  25,238   2,013,235
Analog Devices, Inc.
  21,530   3,691,749
Automatic Data Processing, Inc.
  17,671   3,990,289
Badger Meter, Inc.
  1,306   151,365
Broadcom, Inc.
  17,281   10,109,558
Broadridge Financial Solutions, Inc.
  4,956   745,184
Cass Information Systems, Inc.(b)
  607   29,476
Cisco Systems, Inc.
  174,576   8,496,614
Corning, Inc.
  35,947   1,244,126
HP, Inc.
  43,906   1,279,421
International Business Machines Corp.
  38,558   5,194,919
Intuit, Inc.
  12,025   5,082,607
Jack Henry & Associates, Inc.(b)
  3,068   552,516
KLA Corp.
  6,046   2,372,934
Littelfuse, Inc.(b)
  1,105   283,642
Mastercard, Inc., Class A
  40,520   15,016,712
Microchip Technology, Inc.
  23,441   1,819,490
Microsoft Corp.
  110,018   27,263,561
Motorola Solutions, Inc.
  7,074   1,818,089
Oracle Corp.
  114,553   10,133,358
Paychex, Inc.
  15,311   1,773,932
QUALCOMM, Inc.
  47,500   6,327,475
Roper Technologies, Inc.
  4,541   1,937,872
TE Connectivity Ltd.
  13,616   1,731,274
Texas Instruments, Inc.
  38,523   6,826,661
Visa, Inc., Class A(b)
  69,223   15,935,827
        143,293,729
Materials-3.11%
Air Products and Chemicals, Inc.
  9,430   3,022,409
Albemarle Corp.
  4,948   1,392,615
AptarGroup, Inc.
  2,789   322,520
Ashland, Inc.
  2,327   254,271
Avery Dennison Corp.
  3,440   651,674
Avient Corp.
  3,872   156,893
Balchem Corp.
  1,433   187,193
Cabot Corp.(b)
  2,411   181,621
  Shares   Value
Materials-(continued)
Celanese Corp.
  4,649   $572,757
Eastman Chemical Co.
  5,201   458,572
Ecolab, Inc.
  12,066   1,868,179
H.B. Fuller Co.
  2,277   157,341
Hawkins, Inc.
  932   36,348
International Flavors & Fragrances, Inc.
  10,817   1,216,480
Kaiser Aluminum Corp.
  703   61,527
LyondellBasell Industries N.V., Class A
  13,903   1,344,281
Nucor Corp.
  10,822   1,829,134
Packaging Corp. of America
  3,995   570,086
PPG Industries, Inc.
  10,017   1,305,616
Quaker Chemical Corp.
  797   156,905
Reliance Steel & Aluminum Co.(b)
  2,595   590,233
Royal Gold, Inc.(b)
  2,799   355,557
RPM International, Inc.
  5,483   492,976
Scotts Miracle-Gro Co. (The)(b)
  2,377   171,596
Sensient Technologies Corp.
  1,874   141,843
Sherwin-Williams Co. (The)
  11,005   2,603,673
Silgan Holdings, Inc.(b)
  4,641   250,103
Sonoco Products Co.
  4,163   254,401
Stepan Co.
  993   109,071
Westlake Corp.(b)
  5,430   666,532
Worthington Industries, Inc.(b)
  2,116   120,337
        21,502,744
Real Estate-1.54%
Alexandria Real Estate Equities, Inc.
  6,909   1,110,553
CubeSmart(b)
  9,548   437,203
Digital Realty Trust, Inc.
  12,174   1,395,384
EastGroup Properties, Inc.
  1,851   311,431
Equity LifeStyle Properties, Inc.(b)
  7,928   569,072
Essex Property Trust, Inc.
  2,755   622,823
Extra Space Storage, Inc.
  5,695   898,842
Federal Realty Investment Trust
  3,424   381,879
Kennedy-Wilson Holdings, Inc.
  5,867   104,902
Mid-America Apartment Communities, Inc.
  4,873   812,426
National Retail Properties, Inc.
  7,529   356,498
Realty Income Corp.
  26,717   1,812,214
STAG Industrial, Inc.
  7,623   271,379
Terreno Realty Corp.(b)
  3,194   205,789
UDR, Inc.
  13,846   589,701
Universal Health Realty Income Trust
  609   33,379
W.P. Carey, Inc.(b)
  8,830   755,230
        10,668,705
Utilities-5.07%
ALLETE, Inc.
  2,451   151,619
Alliant Energy Corp.
  10,638   574,771
American Electric Power Co., Inc.
  21,805   2,048,798
American States Water Co.
  1,648   155,192
American Water Works Co., Inc.
  7,737   1,210,763
Atmos Energy Corp.
  5,961   700,656
Avista Corp.
  3,072   122,573
Black Hills Corp.
  2,757   199,552
Brookfield Infrastructure Partners L.P. (Canada)
  19,408   685,879
California Water Service Group
  2,331   142,587
Chesapeake Utilities Corp.
  789   99,477
CMS Energy Corp.
  12,298   777,111
Consolidated Edison, Inc.
  15,074   1,436,703
DTE Energy Co.
  8,269   962,264
Duke Energy Corp.
  32,679   3,347,964
Edison International
  16,182   1,114,940
 
See accompanying notes which are an integral part of this schedule.
Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Utilities-(continued)
Essential Utilities, Inc.
  11,138   $520,479
Evergy, Inc.
  9,773   612,278
Eversource Energy
  14,712   1,211,239
IDACORP, Inc.
  2,162   228,761
MGE Energy, Inc.
  1,612   117,853
Middlesex Water Co.
  783   65,662
National Fuel Gas Co.
  3,894   226,086
New Jersey Resources Corp.
  4,106   204,971
NextEra Energy, Inc.
  84,378   6,297,130
NiSource, Inc.
  17,272   479,298
Northwest Natural Holding Co.
  1,553   77,867
NorthWestern Corp.
  2,410   136,888
OGE Energy Corp.
  8,467   332,922
Pinnacle West Capital Corp.
  4,767   355,380
Portland General Electric Co.
  4,244   201,929
Public Service Enterprise Group, Inc.
  21,234   1,315,022
Sempra Energy
  13,370   2,143,612
SJW Group
  1,349   104,426
Southern Co. (The)
  46,271   3,131,621
Southwest Gas Holdings, Inc.
  2,806   187,806
Spire, Inc.
  2,248   162,351
UGI Corp.
  8,872   353,372
WEC Energy Group, Inc.
  13,420   1,261,346
Xcel Energy, Inc.
  23,197   1,595,258
York Water Co. (The)
  630   28,633
        35,083,039
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.03%

(Cost $583,707,010)
  692,341,592
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-3.51%
Invesco Private Government Fund, 4.36%(c)(d)(e)
  6,792,510   $6,792,510
Invesco Private Prime Fund, 4.59%(c)(d)(e)
  17,465,380   17,470,619
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $24,263,129)
  24,263,129
TOTAL INVESTMENTS IN SECURITIES-103.54%

(Cost $607,970,139)
  716,604,721
OTHER ASSETS LESS LIABILITIES-(3.54)%
  (24,507,395)
NET ASSETS-100.00%
  $692,097,326
 
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) All or a portion of this security was out on loan at January 31, 2023.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $376,010   $15,485,597   $(15,861,607)   $-   $-   $-   $10,660
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 4,539,079   105,802,755   (103,549,324)   -   -   6,792,510   162,714*
Invesco Private Prime Fund 10,586,044   248,539,630   (241,665,693)   (1)   10,639   17,470,619   446,037*
Total $15,501,133   $369,827,982   $(361,076,624)   $(1)   $10,639   $24,263,129   $619,411
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(e) 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.  
See accompanying notes which are an integral part of this schedule.
Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2023
(Unaudited)
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments(a)
Invesco Dow Jones Industrial Average Dividend ETF (DJD)
January 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Communication Services-7.18%
Verizon Communications, Inc.
  557,471   $23,174,070
Consumer Discretionary-7.63%
Home Depot, Inc. (The)(b)
  33,705   10,926,150
McDonald’s Corp.
  32,363   8,653,866
NIKE, Inc., Class B
  39,639   5,047,234
        24,627,250
Consumer Staples-15.28%
Coca-Cola Co. (The)(b)
  175,579   10,766,504
Procter & Gamble Co. (The)(b)
  72,595   10,336,076
Walgreens Boots Alliance, Inc.
  581,101   21,419,383
Walmart, Inc.
  47,368   6,814,834
        49,336,797
Energy-4.66%
Chevron Corp.
  86,407   15,036,546
Financials-13.75%
American Express Co.(b)
  33,149   5,798,754
Goldman Sachs Group, Inc. (The)
  34,012   12,441,930
JPMorgan Chase & Co.
  113,509   15,886,720
Travelers Cos., Inc. (The)
  53,784   10,279,198
        44,406,602
Health Care-13.37%
Amgen, Inc.
  50,156   12,659,374
Johnson & Johnson
  64,846   10,597,133
Merck & Co., Inc.
  142,389   15,294,003
UnitedHealth Group, Inc.
  9,306   4,645,462
        43,195,972
Industrials-12.13%
3M Co.
  149,739   17,231,964
Caterpillar, Inc.
  52,773   13,314,100
Honeywell International, Inc.
  41,430   8,637,327
        39,183,391
  Shares   Value
Information Technology-18.28%
Apple, Inc.
  14,279   $2,060,317
Cisco Systems, Inc.(b)
  285,728   13,906,382
Intel Corp.
  559,265   15,804,829
International Business Machines Corp.(b)
  152,960   20,608,301
Microsoft Corp.
  13,761   3,410,113
Visa, Inc., Class A(b)
  14,095   3,244,810
        59,034,752
Materials-7.68%
Dow, Inc.(b)
  418,020   24,809,487
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.96%

(Cost $328,289,678)
  322,804,867
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-7.77%
Invesco Private Government Fund, 4.36%(c)(d)(e)
  7,023,716   7,023,716
Invesco Private Prime Fund, 4.59%(c)(d)(e)
  18,055,842   18,061,259
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $25,084,975)
  25,084,975
TOTAL INVESTMENTS IN SECURITIES-107.73%

(Cost $353,374,653)
  347,889,842
OTHER ASSETS LESS LIABILITIES-(7.73)%
  (24,952,407)
NET ASSETS-100.00%
  $322,937,435
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) All or a portion of this security was out on loan at January 31, 2023.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $109,718   $7,581,916   $(7,691,634)   $-   $-   $-   $4,971
See accompanying notes which are an integral part of this schedule.
Invesco Dow Jones Industrial Average Dividend ETF (DJD)—(continued)
January 31, 2023
(Unaudited)
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $3,630,562   $49,950,315   $(46,557,161)   $-   $-   $7,023,716   $37,175*
Invesco Private Prime Fund 8,467,759   81,039,523   (71,446,529)   (106)   612   18,061,259   92,459*
Total $12,208,039   $138,571,754   $(125,695,324)   $(106)   $612   $25,084,975   $134,605
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(e) 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 Financial Preferred ETF (PGF)
January 31, 2023
(Unaudited)
  Shares   Value
Preferred Stocks-99.80%
Banks-57.06%
Bank of America Corp.        
Series PP, Pfd., 4.13%
  643,364   $12,211,049
Series QQ, Pfd., 4.25%
  878,308   16,995,260
Series NN, Pfd., 4.38%
  773,450   15,469,000
Series SS, Pfd., 4.75%(b)
  468,565   10,191,289
Series LL, Pfd., 5.00%(b)
  912,199   20,871,113
Series KK, Pfd., 5.38%
  942,938   22,762,523
Series HH, Pfd., 5.88%(b)
  571,889   14,411,603
Series GG, Pfd., 6.00%(b)
  908,300   22,834,662
Bank OZK, Series A, Pfd., 4.63%(b)
  240,613   4,511,494
Citigroup, Inc.        
Series K, Pfd., 6.88%(c)
  1,030,653   26,281,651
Series J, Pfd., 7.13%(c)
  646,140   16,437,802
Citizens Financial Group, Inc.        
Series E, Pfd., 5.00%
  314,340   6,962,631
Series D, Pfd., 6.35%(c)
  202,211   5,150,314
Fifth Third Bancorp        
Series K, Pfd., 4.95%(b)
  170,119   4,030,119
Series I, Pfd., 6.63%(b)(c)
  310,819   7,761,150
First Citizens BancShares, Inc., Series A, Pfd., 5.38%(b)
  237,193   5,194,527
First Republic Bank        
Series M, Pfd., 4.00%(b)
  512,725   9,372,613
Series K, Pfd., 4.13%
  349,507   6,584,712
Series L, Pfd., 4.25%(b)
  509,611   9,657,128
Series N, Pfd., 4.50%
  514,001   10,202,920
Series J, Pfd., 4.70%(b)
  264,606   5,604,355
Series I, Pfd., 5.50%
  204,542   5,007,188
Huntington Bancshares, Inc., Series H, Pfd., 4.50%
  343,754   7,040,082
JPMorgan Chase & Co.        
Series MM, Pfd., 4.20%(b)
  1,367,243   27,208,136
Series JJ, Pfd., 4.55%(b)
  1,037,964   22,004,837
Series LL, Pfd., 4.63%(b)
  1,260,685   27,092,121
Series GG, Pfd., 4.75%
  617,303   13,580,666
Series DD, Pfd., 5.75%(b)
  1,162,357   29,035,678
Series EE, Pfd., 6.00%(b)
  1,262,102   32,170,980
KeyCorp        
Series G, Pfd., 5.63%(b)
  337,208   8,423,456
Series F, Pfd., 5.65%(b)
  310,351   7,684,291
Series E, Pfd., 6.13%(c)
  363,286   9,456,335
Pfd., 6.20%(b)(c)
  345,230   8,848,245
M&T Bank Corp., Series H, Pfd., 5.63%(c)
  171,871   4,472,083
Regions Financial Corp.        
Series E, Pfd., 4.45%
  271,348   5,445,954
Series C, Pfd., 5.70%(b)(c)
  350,131   8,707,758
Series B, Pfd., 6.38%(c)
  340,261   8,870,604
Signature Bank, Series A, Pfd., 5.00%
  503,257   9,541,753
SVB Financial Group, Series A, Pfd., 5.25%(b)
  240,598   5,172,857
Synovus Financial Corp., Series E, Pfd., 5.88%(b)(c)
  241,279   5,976,481
Texas Capital Bancshares, Inc., Series B, Pfd., 5.75%
  206,825   4,694,927
Truist Financial Corp.        
Series R, Pfd., 4.75%(b)
  637,459   14,151,590
Series O, Pfd., 5.25%(b)
  393,965   9,526,074
U.S. Bancorp        
Series L, Pfd., 3.75%(b)
  378,882   6,963,851
Series M, Pfd., 4.00%(b)
  552,271   10,592,558
Series O, Pfd., 4.50%(b)
  268,758   5,789,047
Series K, Pfd., 5.50%
  373,235   9,304,748
  Shares   Value
Banks-(continued)
Washington Federal, Inc., Series A, Pfd., 4.88%
  205,744   $4,174,546
Wells Fargo & Co.        
Series DD, Pfd., 4.25%
  849,722   16,578,076
Series CC, Pfd., 4.38%(b)
  718,582   14,429,127
Series AA, Pfd., 4.70%(b)
  794,972   17,155,496
Series Z, Pfd., 4.75%
  1,395,075   29,617,442
Series Y, Pfd., 5.63%(b)
  467,660   11,551,202
Series Q, Pfd., 5.85%(c)
  1,179,784   28,810,325
Series R, Pfd., 6.63%(c)
  576,375   14,611,106
Western Alliance Bancorporation, Series A, Pfd., 4.25%(c)
  206,824   4,440,511
        701,628,046
Capital Markets-16.35%
Apollo Asset Management, Inc.        
Series A, Pfd., 6.38%(b)
  195,100   4,926,275
Series B, Pfd., 6.38%(b)
  169,482   4,296,369
Charles Schwab Corp. (The)        
Series J, Pfd., 4.45%(b)
  411,276   8,928,802
Series D, Pfd., 5.95%
  516,588   12,992,188
Goldman Sachs Group, Inc. (The)        
Series J, Pfd., 5.50%(c)
  683,592   17,055,620
Series K, Pfd., 6.38%(c)
  482,212   12,479,647
Morgan Stanley        
Series O, Pfd., 4.25%(b)
  888,726   17,721,196
Series L, Pfd., 4.88%(b)
  341,820   7,964,406
Series K, Pfd., 5.85%(c)
  683,632   17,193,345
Series I, Pfd., 6.38%(c)
  683,623   17,473,404
Series P, Pfd., 6.50%(b)
  689,807   17,962,574
Series F, Pfd., 6.88%(b)(c)
  581,080   14,654,838
Series E, Pfd., 7.13%(c)
  589,642   15,000,492
Northern Trust Corp., Series E, Pfd., 4.70%
  275,002   6,283,796
State Street Corp.        
Series G, Pfd., 5.35%(c)
  347,654   9,091,152
Series D, Pfd., 5.90%(b)(c)
  511,766   13,039,798
Stifel Financial Corp., Series D, Pfd., 4.50%(b)
  208,801   4,015,243
        201,079,145
Consumer Finance-5.18%
Capital One Financial Corp.        
Series N, Pfd., 4.25%(b)
  289,126   5,450,025
Series L, Pfd., 4.38%
  450,510   8,609,246
Series J, Pfd., 4.80%
  835,602   17,380,521
Series I, Pfd., 5.00%
  1,006,721   22,037,123
Synchrony Financial, Series A, Pfd., 5.63%(b)
  517,048   10,242,721
        63,719,636
Diversified Financial Services-1.77%
Equitable Holdings, Inc.        
Series C, Pfd., 4.30%(b)
  204,222   4,019,089
Series A, Pfd., 5.25%(b)
  551,865   12,483,186
Voya Financial, Inc., Series B, Pfd., 5.35%(c)
  206,824   5,211,965
        21,714,240
Insurance-18.39%
Allstate Corp. (The)        
Series I, Pfd., 4.75%
  205,639   4,725,584
Series H, Pfd., 5.10%(b)
  792,912   19,045,746
Series G, Pfd., 5.63%(b)
  390,350   9,602,610
American Equity Investment Life Holding Co.        
Series A, Pfd., 5.95%(c)
  295,702   7,102,762
Series B, Pfd., 6.63%(b)(c)
  187,357   4,816,949
See accompanying notes which are an integral part of this schedule.
Invesco Financial Preferred ETF (PGF)—(continued)
January 31, 2023
(Unaudited)
  Shares   Value
Insurance-(continued)
American International Group, Inc., Series A, Pfd., 5.85%(b)
  343,754   $8,717,601
Arch Capital Group Ltd.        
Series G, Pfd., 4.55%(b)
  366,497   7,326,275
Series F, Pfd., 5.45%(b)
  206,867   4,987,563
Aspen Insurance Holdings Ltd.        
Pfd., 5.63% (Bermuda)
  185,769   4,109,210
Pfd., 5.63% (Bermuda)
  188,141   4,150,390
Pfd., 5.95% (Bermuda)(c)
  182,499   4,509,550
Athene Holding Ltd.        
Series D, Pfd., 4.88%(b)
  424,088   8,486,001
Series B, Pfd., 5.63%(b)
  239,279   5,618,271
Series A, Pfd., 6.35%(c)
  603,253   15,364,854
Series C, Pfd., 6.38%(c)
  406,174   10,377,746
Series E, Pfd., 7.75%(c)
  320,947   8,469,791
AXIS Capital Holdings Ltd., Series E, Pfd., 5.50%(b)
  378,126   8,768,742
Brighthouse Financial, Inc.        
Series D, Pfd., 4.63%
  238,670   4,384,368
Series C, Pfd., 5.38%
  404,362   8,208,549
Series A, Pfd., 6.60%(b)
  295,662   7,690,169
Series B, Pfd., 6.75%
  264,987   7,011,556
Enstar Group Ltd., Series D, Pfd., 7.00%(b)(c)
  275,002   6,608,298
Hartford Financial Services Group, Inc. (The), Series G, Pfd., 6.00%(b)
  237,193   6,107,720
Lincoln National Corp., Series D, Pfd., 9.00%(b)
  342,911   9,858,691
MetLife, Inc.        
Series F, Pfd., 4.75%(b)
  681,604   15,656,444
Series E, Pfd., 5.63%(b)
  555,889   13,930,578
RenaissanceRe Holdings Ltd.        
Series G, Pfd., 4.20% (Bermuda)
  358,788   6,522,766
Series F, Pfd., 5.75% (Bermuda)(b)
  161,522   3,902,372
        226,061,156
  Shares   Value
Thrifts & Mortgage Finance-0.71%
New York Community Bancorp, Inc., Series A, Pfd., 6.38%(c)
  354,062   $8,741,791
Trading Companies & Distributors-0.34%
Air Lease Corp., Series A, Pfd., 6.15%(c)
  171,871   4,226,308
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.80%

(Cost $1,383,935,625)
  1,227,170,322
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.18%
Invesco Private Government Fund, 4.36%(d)(e)(f)
  14,360,873   14,360,873
Invesco Private Prime Fund, 4.59%(d)(e)(f)
  37,025,662   37,036,769
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $51,398,442)
  51,397,642
TOTAL INVESTMENTS IN SECURITIES-103.98%

(Cost $1,435,334,067)
  1,278,567,964
OTHER ASSETS LESS LIABILITIES-(3.98)%
  (48,990,995)
NET ASSETS-100.00%
  $1,229,576,969
    
 
Investment Abbreviations:
Pfd. -Preferred
    
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) All or a portion of this security was out on loan at January 31, 2023.
(c) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(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 nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $61,237,010   $(61,237,010)   $-   $-   $-   $32,472
See accompanying notes which are an integral part of this schedule.
Invesco Financial Preferred ETF (PGF)—(continued)
January 31, 2023
(Unaudited)
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $7,543,720   $124,930,471   $(118,113,318)   $-   $-   $14,360,873   $272,681*
Invesco Private Prime Fund 17,575,099   307,783,935   (288,332,564)   (3,367)   13,666   37,036,769   746,774*
Total $25,118,819   $493,951,416   $(467,682,892)   $(3,367)   $13,666   $51,397,642   $1,051,927
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(e) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(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 High Yield Equity Dividend AchieversTM ETF (PEY)
January 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.91%
Banks-10.42%
Associated Banc-Corp(b)
  1,059,112   $23,734,700
Huntington Bancshares, Inc.
  2,046,937   31,052,034
Northwest Bancshares, Inc.
  2,708,206   38,294,033
Premier Financial Corp.(b)
  1,113,263   27,853,840
United Bankshares, Inc.(b)
  618,222   24,852,525
WesBanco, Inc.
  652,987   24,271,527
        170,058,659
Biotechnology-1.16%
Amgen, Inc.
  74,723   18,860,085
Capital Markets-2.44%
Franklin Resources, Inc.(b)
  1,277,323   39,852,478
Chemicals-3.05%
LyondellBasell Industries N.V., Class A(b)
  514,722   49,768,470
Commercial Services & Supplies-2.86%
Healthcare Services Group, Inc.(b)
  3,466,401   46,692,422
Construction & Engineering-1.31%
MDU Resources Group, Inc.
  693,913   21,448,851
Containers & Packaging-1.51%
Sonoco Products Co.(b)
  403,413   24,652,568
Diversified Telecommunication Services-3.41%
Verizon Communications, Inc.
  1,339,725   55,692,368
Electric Utilities-11.73%
ALLETE, Inc.(b)
  468,729   28,995,576
Duke Energy Corp.
  315,354   32,308,018
Edison International
  498,709   34,361,050
OGE Energy Corp.(b)
  794,432   31,237,066
Pinnacle West Capital Corp.
  440,484   32,838,082
Southern Co. (The)
  467,025   31,608,252
        191,348,044
Food & Staples Retailing-1.99%
Walgreens Boots Alliance, Inc.
  879,711   32,426,147
Food Products-1.46%
Kellogg Co.(b)
  347,398   23,824,555
Gas Utilities-5.44%
Northwest Natural Holding Co.
  608,530   30,511,694
Spire, Inc.(b)
  394,580   28,496,568
UGI Corp.(b)
  745,592   29,696,929
        88,705,191
Health Care Providers & Services-2.85%
Cardinal Health, Inc.
  242,556   18,737,451
National HealthCare Corp.
  465,601   27,721,884
        46,459,335
Household Durables-2.40%
Leggett & Platt, Inc.(b)
  1,073,297   39,239,738
Household Products-3.07%
Clorox Co. (The)
  167,599   24,249,899
Kimberly-Clark Corp.(b)
  198,385   25,792,034
        50,041,933
Industrial Conglomerates-2.10%
3M Co.
  297,202   34,202,006
Insurance-9.20%
Fidelity National Financial, Inc.(b)
  854,945   37,643,228
  Shares   Value
Insurance-(continued)
Old Republic International Corp.(b)
  1,199,432   $31,653,011
Principal Financial Group, Inc.(b)
  251,292   23,257,075
Prudential Financial, Inc.(b)
  325,259   34,132,679
Unum Group
  559,153   23,501,201
        150,187,194
IT Services-1.94%
International Business Machines Corp.
  235,173   31,684,858
Multi-Utilities-5.54%
Avista Corp.(b)
  817,247   32,608,155
Consolidated Edison, Inc.
  259,627   24,745,050
NorthWestern Corp.(b)
  582,054   33,060,667
        90,413,872
Oil, Gas & Consumable Fuels-3.04%
Chevron Corp.
  133,692   23,265,082
Exxon Mobil Corp.
  226,558   26,282,993
        49,548,075
Personal Products-1.84%
Nu Skin Enterprises, Inc., Class A(b)
  700,335   30,030,365
Pharmaceuticals-2.54%
Merck & Co., Inc.
  179,846   19,317,259
Pfizer, Inc.
  502,803   22,203,780
        41,521,039
Real Estate Management & Development-2.87%
Kennedy-Wilson Holdings, Inc.(b)
  2,622,617   46,892,392
Textiles, Apparel & Luxury Goods-2.79%
VF Corp.(b)
  1,469,272   45,459,276
Tobacco-8.78%
Altria Group, Inc.
  1,327,479   59,789,654
Philip Morris International, Inc.
  399,868   41,682,241
Universal Corp.
  767,344   41,720,493
        143,192,388
Wireless Telecommunication Services-4.17%
Telephone & Data Systems, Inc.(b)
  5,093,292   68,097,314
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.91%

(Cost $1,567,088,185)
  1,630,299,623
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-8.99%
Invesco Private Government Fund, 4.36%(c)(d)(e)
  41,048,447   41,048,447
Invesco Private Prime Fund, 4.59%(c)(d)(e)
  105,588,865   105,620,541
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $146,666,356)
  146,668,988
TOTAL INVESTMENTS IN SECURITIES-108.90%

(Cost $1,713,754,541)
  1,776,968,611
OTHER ASSETS LESS LIABILITIES-(8.90)%
  (145,251,201)
NET ASSETS-100.00%
  $1,631,717,410
See accompanying notes which are an integral part of this schedule.
Invesco High Yield Equity Dividend AchieversTM ETF (PEY)—(continued)
January 31, 2023
(Unaudited)
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) All or a portion of this security was out on loan at January 31, 2023.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $39,807,988   $(39,807,988)   $-   $-   $-   $15,360
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 32,170,853   355,621,846   (346,744,252)   -   -   41,048,447   716,658*
Invesco Private Prime Fund 75,046,247   720,893,043   (690,360,445)   (726)   42,422   105,620,541   1,972,015*
Total $107,217,100   $1,116,322,877   $(1,076,912,685)   $(726)   $42,422   $146,668,988   $2,704,033
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(e) 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
Invesco International Dividend AchieversTM ETF (PID)
January 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.94%
Australia-4.45%
Rio Tinto PLC, ADR(a)
  569,972   $45,227,278
Brazil-4.11%
Banco Santander Brasil S.A., ADR(a)
  7,340,685   41,695,091
Canada-54.51%
Agnico Eagle Mines Ltd.(a)
  431,103   24,348,697
Algonquin Power & Utilities Corp.(a)
  5,182,415   37,831,629
BCE, Inc.(a)
  821,191   38,842,334
Brookfield Corp.
  171,754   6,389,249
Brookfield Infrastructure Partners L.P.
  699,744   24,728,953
Brookfield Renewable Partners L.P.
  1,092,228   31,838,446
Canadian Imperial Bank of Commerce
  741,929   33,846,801
Canadian National Railway Co.
  90,742   10,806,465
Canadian Natural Resources Ltd.
  422,256   25,943,409
Canadian Pacific Railway Ltd.(a)
  59,557   4,699,047
Enbridge, Inc.(a)
  947,644   38,824,975
FirstService Corp.
  32,239   4,606,953
Fortis, Inc.(a)
  703,720   28,958,078
Franco-Nevada Corp.
  40,179   5,894,259
Imperial Oil Ltd.
  210,366   11,519,642
Magna International, Inc.(a)
  324,453   21,069,978
Open Text Corp.(a)
  717,170   24,061,054
Restaurant Brands International, Inc.(a)
  333,851   22,344,647
Ritchie Bros. Auctioneers, Inc.
  236,450   14,298,132
Royal Bank of Canada(a)
  262,862   26,906,554
Stantec, Inc.
  151,752   7,915,384
TC Energy Corp.(a)
  879,754   37,952,588
TELUS Corp.(a)
  1,563,201   33,686,982
TFI International, Inc.(a)
  62,437   6,949,238
Toronto-Dominion Bank (The)(a)
  421,080   29,147,158
        553,410,652
France-2.81%
Sanofi, ADR
  580,534   28,527,441
Germany-5.01%
Fresenius Medical Care AG & Co. KGaA, ADR
  1,982,780   37,137,470
SAP SE, ADR(a)
  115,559   13,697,208
        50,834,678
India-1.41%
Infosys Ltd., ADR(a)
  666,607   12,532,211
Reliance Industries Ltd., GDR(a)(b)
  31,522   1,806,211
        14,338,422
Ireland-2.33%
CRH PLC, ADR(a)
  501,703   23,620,177
  Shares   Value
Japan-4.58%
Sony Group Corp., ADR(a)
  51,806   $4,634,565
Sumitomo Mitsui Financial Group, Inc., ADR
  4,782,512   41,894,805
        46,529,370
Mexico-1.56%
America Movil S.A.B. de C.V., Class L, ADR(a)
  757,794   15,860,628
Spain-3.79%
Atlantica Sustainable Infrastructure PLC(a)
  1,402,207   38,448,516
Switzerland-3.57%
Logitech International S.A., Class R(a)
  180,495   10,535,493
Novartis AG, ADR
  283,315   25,674,006
        36,209,499
United Kingdom-9.68%
Diageo PLC, ADR(a)
  71,188   12,589,598
Linde PLC
  27,536   9,112,764
National Grid PLC, ADR(a)
  562,049   35,841,864
RELX PLC, ADR(a)
  537,911   15,981,336
Unilever PLC, ADR(a)
  484,250   24,745,175
        98,270,737
United States-2.13%
Amdocs Ltd.
  133,419   12,265,209
Willis Towers Watson PLC
  36,786   9,350,633
        21,615,842
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.94%

(Cost $944,392,079)
  1,014,588,331
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-31.71%
Invesco Private Government Fund, 4.36%(c)(d)(e)
  84,589,481   84,589,481
Invesco Private Prime Fund, 4.59%(c)(d)(e)
  237,288,119   237,359,302
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $321,942,902)
  321,948,783
TOTAL INVESTMENTS IN SECURITIES-131.65%

(Cost $1,266,334,981)
  1,336,537,114
OTHER ASSETS LESS LIABILITIES-(31.65)%
  (321,316,141)
NET ASSETS-100.00%
  $1,015,220,973
See accompanying notes which are an integral part of this schedule.
Invesco International Dividend AchieversTM ETF (PID)—(continued)
January 31, 2023
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
GDR-Global Depositary Receipt
    
Notes to Schedule of Investments:
(a) All or a portion of this security was out on loan at January 31, 2023.
(b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at January 31, 2023 represented less than 1% of the Fund’s Net Assets.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended January 31, 2023.
    
  Value
April 30, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
January 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $26,768,667   $(26,768,667)   $-   $-   $-   $9,660
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 62,607,584   444,171,049   (422,189,152)   -   -   84,589,481   1,271,618*
Invesco Private Prime Fund 146,030,600   909,774,282   (818,497,705)   (8,537)   60,662   237,359,302   3,531,044*
Total $208,638,184   $1,380,713,998   $(1,267,455,524)   $(8,537)   $60,662   $321,948,783   $4,812,322
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of January 31, 2023.
(e) 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
January 31, 2023
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of January 31, 2023. 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 BuyBack AchieversTM ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,102,880,084   $-   $-   $1,102,880,084
Money Market Funds 1,671,184   92,511,472   -   94,182,656
Total Investments $1,104,551,268   $92,511,472   $-   $1,197,062,740
Invesco Dividend AchieversTM ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $692,341,592   $-   $-   $692,341,592
Money Market Funds -   24,263,129   -   24,263,129
Total Investments $692,341,592   $24,263,129   $-   $716,604,721
Invesco Dow Jones Industrial Average Dividend ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $322,804,867   $-   $-   $322,804,867
Money Market Funds -   25,084,975   -   25,084,975
Total Investments $322,804,867   $25,084,975   $-   $347,889,842
Invesco Financial Preferred ETF              
Investments in Securities              
Preferred Stocks $1,227,170,322   $-   $-   $1,227,170,322
Money Market Funds -   51,397,642   -   51,397,642
Total Investments $1,227,170,322   $51,397,642   $-   $1,278,567,964
Invesco High Yield Equity Dividend AchieversTM ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,630,299,623   $-   $-   $1,630,299,623
Money Market Funds -   146,668,988   -   146,668,988
Total Investments $1,630,299,623   $146,668,988   $-   $1,776,968,611
  Level 1   Level 2   Level 3   Total
Invesco International Dividend AchieversTM ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,014,588,331   $-   $-   $1,014,588,331
Money Market Funds -   321,948,783   -   321,948,783
Total Investments $1,014,588,331   $321,948,783   $-   $1,336,537,114