NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments
Invesco S&P Emerging Markets Low Volatility ETF (EELV)
July 31, 2025
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.45%
Brazil-10.20%
Ambev S.A.
 
713,186
$1,587,250
Banco do Brasil S.A.
 
466,800
1,642,561
Banco Santander Brasil S.A., Series CPO
 
310,000
1,463,468
BB Seguridade Participacoes S.A.
 
328,100
1,974,970
Caixa Seguridade Participacoes S.A.
 
643,301
1,583,390
Centrais Eletricas Brasileiras S.A.
 
242,300
1,636,381
Cia de Saneamento Basico do Estado de Sao
Paulo SABESP
 
79,300
1,534,144
Cia Energetica de Minas Gerais, Preference
Shares
 
855,400
1,578,316
Cia Paranaense de Energia - Copel, Class B,
Preference Shares
 
842,700
1,785,180
CPFL Energia S.A.
 
300,000
2,031,419
ENGIE Brasil Energia S.A.
 
328,300
2,341,503
Equatorial Energia S.A.
 
252,600
1,537,198
Itau Unibanco Holding S.A., Preference
Shares
 
304,775
1,914,047
Itausa S.A., Preference Shares
 
994,657
1,838,815
Klabin S.A.
 
618,857
2,056,022
Motiva Infraestrutura de Mobilidade S.A.
 
621,800
1,367,204
Neoenergia S.A.
 
398,400
1,744,163
Petroleo Brasileiro S.A., Preference Shares
 
297,900
1,736,781
Porto Seguro S.A.
 
200,100
1,854,621
Suzano S.A.
 
173,200
1,613,343
Telefonica Brasil S.A.
 
305,780
1,719,366
TIM S.A.
 
403,900
1,494,096
Vale S.A.
 
168,400
1,608,035
 
 
39,642,273
Chile-5.11%
Banco de Chile
 
15,293,947
2,092,866
Banco de Credito e Inversiones S.A.
 
47,188
1,860,376
Banco Santander Chile
 
36,507,299
2,094,803
Cencosud S.A.
 
517,776
1,549,499
Empresas CMPC S.A.
 
1,136,625
1,590,565
Empresas COPEC S.A.
 
247,394
1,627,007
Enel Americas S.A.
 
22,240,031
2,203,378
Enel Chile S.A.
 
25,421,122
1,617,576
Falabella S.A.
 
340,511
1,686,765
LATAM Airlines Group S.A.(a)
 
86,971,272
1,889,405
Plaza S.A.
 
771,634
1,619,432
 
 
19,831,672
China-3.52%
Bank of China Ltd., H Shares
 
2,733,309
1,577,703
Bank of Communications Co. Ltd., H
Shares(b)
 
1,708,000
1,538,682
China CITIC Bank Corp. Ltd., H Shares
 
1,606,000
1,492,170
China Construction Bank Corp., H Shares
 
1,592,278
1,628,588
China Power International Development Ltd.
 
3,856,000
1,511,534
China Tower Corp. Ltd., H Shares(c)
 
1,006,000
1,407,712
China Zheshang Bank Co. Ltd., H Shares
 
4,540,000
1,595,394
Industrial & Commercial Bank of China Ltd., H
Shares
 
1,966,089
1,506,467
Jiangsu Expressway Co. Ltd., H Shares
 
1,154,000
1,415,032
 
 
13,673,282
Colombia-0.41%
Grupo Cibest S.A., Preference Shares
 
145,371
1,598,508
 
Shares
Value
Czech Republic-1.11%
CEZ A.S.
 
40,043
$2,325,882
Komercni banka A.S.
 
41,361
1,975,194
 
 
4,301,076
Egypt-0.65%
Commercial International Bank-Egypt (CIB)
S.A.E.
 
1,312,689
2,543,122
Greece-2.19%
GEK TERNA S.A.
 
84,567
2,093,403
Hellenic Telecommunications Organization
S.A.
 
88,281
1,604,648
JUMBO S.A.
 
46,197
1,562,787
Motor Oil Hellas Corinth Refineries S.A.
 
52,242
1,500,995
OPAP S.A.
 
78,000
1,752,076
 
 
8,513,909
Hungary-1.10%
MOL Hungarian Oil & Gas PLC
 
283,601
2,473,007
OTP Bank Nyrt.
 
21,906
1,784,028
 
 
4,257,035
India-2.00%
Dr. Reddy’s Laboratories Ltd., ADR(b)
 
107,984
1,535,532
HDFC Bank Ltd., ADR(b)
 
20,605
1,581,846
ICICI Bank Ltd., ADR(b)
 
52,479
1,768,542
Infosys Ltd., ADR(b)
 
81,225
1,358,082
Reliance Industries Ltd., GDR(c)
 
24,031
1,512,674
 
 
7,756,676
Indonesia-0.36%
PT Bank Central Asia Tbk
 
2,757,337
1,381,965
Kuwait-5.31%
Al Ahli Bank of Kuwait K.S.C.P.
 
2,084,608
2,047,875
Boubyan Bank K.S.C.P.
 
1,127,868
2,598,346
Burgan Bank SAK
 
1,897,204
1,547,579
Gulf Bank K.S.C.P.
 
1,677,436
1,853,972
Kuwait Finance House K.S.C.P.
 
1,561,335
4,113,368
Mabanee Co. K.P.S.C.
 
965,976
2,798,455
Mobile Telecommunications Co. K.S.C.P.
 
1,843,906
3,202,618
National Bank of Kuwait S.A.K.P.
 
722,370
2,473,725
 
 
20,635,938
Malaysia-9.14%
AMMB Holdings Bhd.
 
1,322,000
1,562,056
Bursa Malaysia Bhd.
 
1,079,400
1,903,871
CIMB Group Holdings Bhd.
 
994,800
1,520,669
Genting Bhd.
 
2,236,500
1,636,435
Hong Leong Bank Bhd.
 
601,500
2,674,024
IHH Healthcare Bhd.
 
1,758,947
2,741,499
Malayan Banking Bhd.
 
1,204,192
2,648,524
MISC Bhd.
 
1,078,700
1,883,873
Nestle Malaysia Bhd.
 
85,100
1,755,105
Petronas Gas Bhd.
 
619,900
2,610,993
Public Bank Bhd.
 
2,018,600
1,988,056
QL Resources Bhd.
 
2,603,300
2,590,934
RHB Bank Bhd.
 
1,664,000
2,388,991
SD Guthrie Bhd.
 
1,496,500
1,671,704
Telekom Malaysia Bhd.
 
1,338,900
2,113,815
Tenaga Nasional Bhd.
 
609,172
1,855,506
United Plantations Bhd.
 
389,000
1,973,654
 
 
35,519,709
Mexico-3.34%
America Movil S.A.B. de C.V., Class B
 
2,142,080
1,937,468
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Low Volatility ETF (EELV)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
Mexico-(continued)
Arca Continental S.A.B. de C.V.
 
138,373
$1,444,985
Coca-Cola FEMSA S.A.B. de C.V., Series CPO
 
174,303
1,448,043
Fomento Economico Mexicano S.A.B. de
C.V., Series CPO(d)
 
170,589
1,543,034
Gruma S.A.B. de C.V., Class B
 
90,331
1,564,199
Grupo Comercial Chedraui S.A. de C.V.
 
212,499
1,724,618
Kimberly-Clark de Mexico S.A.B. de C.V.,
Class A(b)
 
955,827
1,784,894
Promotora y Operadora de Infraestructura
S.A.B de C.V.
 
128,843
1,521,536
 
 
12,968,777
Peru-0.46%
Credicorp Ltd.
 
7,468
1,769,916
Poland-0.84%
Orange Polska S.A.(b)
 
664,105
1,554,396
ORLEN S.A.(b)
 
76,695
1,714,081
 
 
3,268,477
Qatar-6.02%
AlRayan Bank
 
4,575,068
2,988,717
Commercial Bank P.S.Q.C. (The)
 
1,793,986
2,409,449
Dukhan Bank
 
2,543,024
2,551,548
Industries Qatar Q.S.C.
 
771,218
2,813,435
Mesaieed Petrochemical Holding Co.
Q.P.S.C.
 
6,497,749
2,415,551
Ooredoo Q.P.S.C.
 
620,529
2,293,217
Qatar Gas Transport Co. Ltd.
 
1,595,421
2,103,453
Qatar Islamic Bank Q.P.S.C.
 
411,479
2,772,214
Qatar National Bank Q.P.S.C.
 
592,080
3,046,032
 
 
23,393,616
Romania-0.64%
NEPI Rockcastle N.V.(a)
 
320,555
2,468,573
Russia-0.00%
X5 Retail Group N.V., GDR(a)(c)(e)
 
51,546
0
Saudi Arabia-14.95%
Abdullah Al Othaim Markets Co.
 
1,035,024
2,013,450
Ades Holding Co.
 
419,312
1,406,528
Al Rajhi Bank
 
83,925
2,116,091
Alinma Bank
 
317,568
2,183,761
Almarai Co. JSC
 
138,759
1,769,690
Arab National Bank
 
293,862
1,699,946
Bank AlBilad
 
245,432
1,699,325
Bank Al-Jazira(a)
 
524,210
1,750,996
Banque Saudi Fransi
 
421,867
1,927,396
Dallah Healthcare Co.
 
57,874
2,096,250
Dr. Sulaiman Al Habib Medical Services Group
Co., Class H
 
25,722
1,796,579
Etihad Etisalat Co.
 
99,107
1,615,907
Jarir Marketing Co.
 
879,390
3,010,020
Nahdi Medical Co.
 
70,959
2,340,929
Riyad Bank
 
215,661
1,618,214
SABIC Agri-Nutrients Co.
 
75,689
2,400,822
Sahara International Petrochemical Co.
 
371,769
1,771,908
Saudi Arabian Oil Co.(c)
 
462,823
2,994,768
Saudi Aramco Base Oil Co.
 
71,823
1,993,000
Saudi Awwal Bank
 
186,806
1,610,253
Saudi Basic Industries Corp.
 
167,415
2,438,188
Saudi Electricity Co.
 
616,069
2,422,516
Saudi Industrial Investment Group(a)
 
350,273
1,676,068
Saudi Investment Bank (The)
 
591,126
2,265,043
 
Shares
Value
Saudi Arabia-(continued)
Saudi Kayan Petrochemical Co.(a)
 
1,382,027
$1,680,944
Saudi National Bank (The)
 
193,224
1,928,200
Saudi Tadawul Group Holding Co.
 
37,949
1,654,801
Saudi Telecom Co.
 
193,722
2,168,464
Yanbu National Petrochemical Co., Class A
 
249,248
2,024,826
 
 
58,074,883
South Africa-5.57%
Bid Corp. Ltd.
 
78,301
1,982,863
Bidvest Group Ltd. (The)
 
113,915
1,492,858
Capitec Bank Holdings Ltd.
 
8,155
1,592,527
Clicks Group Ltd.
 
88,622
1,869,962
Discovery Ltd.
 
135,294
1,616,223
FirstRand Ltd.
 
362,609
1,551,231
Growthpoint Properties Ltd.
 
2,521,365
1,987,230
Investec Ltd.
 
248,293
1,836,727
OUTsurance Group Ltd.
 
380,234
1,623,051
Remgro Ltd.
 
176,110
1,616,364
Sanlam Ltd.
 
312,568
1,515,405
Shoprite Holdings Ltd.
 
101,064
1,480,096
Standard Bank Group Ltd.
 
115,102
1,492,027
 
 
21,656,564
South Korea-2.09%
Industrial Bank of Korea
 
165,994
2,315,858
Kangwon Land, Inc.
 
144,169
1,935,210
Korean Air Lines Co. Ltd.
 
87,919
1,488,502
LG Uplus Corp.
 
226,623
2,385,570
 
 
8,125,140
Taiwan-11.08%
Asia Cement Corp.
 
1,269,872
1,716,574
Chang Hwa Commercial Bank Ltd.
 
4,352,015
2,688,102
Chunghwa Telecom Co. Ltd.
 
763,137
3,297,730
CTBC Financial Holding Co. Ltd.
 
1,103,000
1,515,629
E.Sun Financial Holding Co. Ltd.
 
1,784,292
1,908,290
Far EasTone Telecommunications Co. Ltd.(a)
 
629,810
1,717,744
First Financial Holding Co. Ltd.
 
2,174,386
2,147,933
Hua Nan Financial Holdings Co. Ltd.
 
2,027,146
1,942,392
Mega Financial Holding Co. Ltd.
 
1,485,012
2,112,423
Poya International Co. Ltd.
 
97,970
1,516,125
President Chain Store Corp.
 
254,000
2,176,650
Shanghai Commercial & Savings Bank Ltd.
(The)
 
1,054,902
1,514,466
SinoPac Financial Holdings Co. Ltd.
 
1,990,581
1,642,448
Taichung Commercial Bank Co. Ltd.
 
2,492,000
1,851,704
Taishin Financial Holding Co. Ltd.
 
2,949,277
1,609,673
Taiwan Business Bank
 
3,431,453
1,843,702
Taiwan Cooperative Financial Holding Co.
Ltd.
 
2,791,595
2,369,362
Taiwan Fertilizer Co. Ltd.
 
887,677
1,541,785
Taiwan High Speed Rail Corp.
 
2,912,000
2,653,847
Taiwan Mobile Co. Ltd.
 
508,800
1,793,672
TCC Group Holdings Co. Ltd.
 
2,178,900
1,767,464
Uni-President Enterprises Corp.
 
656,181
1,731,834
 
 
43,059,549
Thailand-6.65%
Advanced Info Service PCL, NVDR
 
181,560
1,613,116
Bangkok Bank PCL, NVDR
 
447,869
2,024,400
Bangkok Dusit Medical Services PCL, NVDR
 
2,652,662
1,745,398
Bangkok Expressway & Metro PCL, NVDR
 
10,180,317
1,729,394
Kasikornbank PCL, NVDR
 
401,339
1,984,556
Krung Thai Bank PCL, NVDR
 
2,325,906
1,563,805
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Low Volatility ETF (EELV)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
Thailand-(continued)
Krungthai Card PCL, NVDR
 
1,437,308
$1,250,778
PTT PCL, NVDR
 
2,099,593
2,134,811
SCB X PCL, NVDR
 
566,712
2,189,288
Thai Beverage PCL
 
4,917,651
1,757,432
Thai Union Group PCL, NVDR
 
5,242,792
1,775,737
Tisco Financial Group PCL, NVDR
 
1,348,394
4,092,478
TMBThanachart Bank PCL, NVDR
 
33,267,900
1,962,391
 
 
25,823,584
United Arab Emirates-6.71%
Abu Dhabi Islamic Bank PJSC
 
328,329
2,155,763
Abu Dhabi National Oil Co. for Distribution
PJSC
 
2,112,500
2,132,575
ADNOC Drilling Co. PJSC, Class C
 
1,044,761
1,660,908
ADNOC Gas PLC
 
2,100,389
1,902,815
ADNOC Logistics & Services
 
1,265,197
1,603,933
Borouge PLC
 
3,538,621
2,541,861
Dubai Electricity and Water Authority PJSC
 
2,847,480
2,143,976
Dubai Islamic Bank PJSC
 
943,748
2,559,469
Emirates NBD Bank PJSC
 
256,215
1,864,513
Emirates Telecommunications Group Co.
PJSC
 
434,671
2,241,341
Fertiglobe PLC
 
2,411,971
1,704,541
First Abu Dhabi Bank PJSC
 
381,509
1,866,355
Salik Co. PJSC
 
968,612
1,685,763
 
 
26,063,813
Total Common Stocks & Other Equity Interests
(Cost $348,812,362)
386,328,057
 
Shares
Value
Money Market Funds-0.05%
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(f)(g)
(Cost $193,030)
 
193,030
$193,030
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.50%
(Cost $349,005,392)
386,521,087
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-2.02%
Invesco Private Government Fund,
4.32%(f)(g)(h)
 
2,296,234
2,296,234
Invesco Private Prime Fund, 4.46%(f)(g)(h)
 
5,551,666
5,552,776
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $7,849,010)
7,849,010
TOTAL INVESTMENTS IN SECURITIES-101.52%
(Cost $356,854,402)
394,370,097
OTHER ASSETS LESS LIABILITIES-(1.52)%
(5,912,916
)
NET ASSETS-100.00%
$388,457,181
 
Investment Abbreviations:
ADR-American Depositary Receipt
CPO-Certificates of Ordinary Participation
GDR-Global Depositary Receipt
NVDR-Non-Voting Depositary Receipt
 
Notes to Schedule of Investments:
(a)
Non-income producing security.
(b)
All or a portion of this security was out on loan at July 31, 2025.
(c)
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 aggregate value of these securities at
July 31, 2025 was $5,915,154, which represented 1.52% of the Fund’s Net Assets.
(d)
Each CPO for Fomento Economico Mexicano, S.A.B. de C.V. represents one Series B share and four Series D shares.
(e)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(f)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended July 31, 2025.
 
 
Value
October 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2025
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$30,856
$24,816,340
$(24,654,166
)
$-
$-
$193,030
$9,243
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Low Volatility ETF (EELV)—(continued)
July 31, 2025
(Unaudited)
 
Value
October 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2025
Dividend Income
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
$4,053,634
$28,217,910
$(29,975,310
)
$-
$-
$2,296,234
$108,855
*
Invesco Private Prime Fund
5,364,341
48,119,750
(47,930,258
)
96
(1,153
)
5,552,776
293,548
*
Total
$9,448,831
$101,154,000
$(102,559,734
)
$96
$(1,153
)
$8,042,040
$411,646
 
*
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.
 
(g)
The rate shown is the 7-day SEC standardized yield as of July 31, 2025.
(h)
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.  
 
Open Futures Contracts(a)
Long Futures Contracts
Number of
Contracts
Expiration
Month
Notional
Value
Value
Unrealized
Appreciation
Equity Risk
 
MSCI Emerging Markets Index
25
September-2025
$1,547,875
$52,067
$52,067
 
(a)
Futures contracts collateralized by $295,204 cash held with Morgan Stanley & Co. LLC, the futures commission merchant.
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 S&P Emerging Markets Momentum ETF (EEMO)
July 31, 2025
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.98%
Argentina-0.10%
Vista Energy, S.A.B. de C.V., ADR(a)
 
314
$14,036
Brazil-2.45%
BB Seguridade Participacoes S.A.
 
2,445
14,717
BRF S.A.
 
2,141
7,668
Cia Energetica de Minas Gerais, Preference
Shares
 
7,622
14,064
Embraer S.A.
 
5,515
79,456
NU Holdings Ltd., Class A(a)
 
11,850
144,807
Porto Seguro S.A.
 
1,118
10,362
WEG S.A.
 
9,303
61,665
 
 
332,739
Chile-0.66%
Banco de Chile
 
177,243
24,254
Cencosud S.A.
 
7,188
21,511
Falabella S.A.
 
5,244
25,977
LATAM Airlines Group S.A.(a)
 
685,655
14,896
Plaza S.A.
 
1,636
3,433
 
 
90,071
China-40.54%
AAC Technologies Holdings, Inc.
 
4,272
21,600
Agricultural Bank of China Ltd., H Shares
 
162,587
106,513
Atour Lifestyle Holdings Ltd., ADR
 
166
5,614
Bank of China Ltd., H Shares
 
459,806
265,406
Bank of Communications Co. Ltd., H Shares
 
104,427
94,075
Bilibili, Inc., Z Shares(a)(b)
 
1,039
23,771
Brilliance China Automotive Holdings Ltd.
 
15,342
6,120
BYD Co. Ltd., H Shares(b)
 
13,125
191,636
China CITIC Bank Corp. Ltd., H Shares
 
53,235
49,462
China Communications Services Corp. Ltd., H
Shares
 
9,588
5,584
China Construction Bank Corp., H Shares
 
515,701
527,461
China Everbright Bank Co. Ltd., H Shares
 
12,572
5,908
China Feihe Ltd.(c)
 
15,155
9,010
China Galaxy Securities Co. Ltd., H Shares
 
13,456
18,185
China Hongqiao Group Ltd.(b)
 
15,847
41,803
China Life Insurance Co. Ltd., H Shares
 
28,977
83,703
China Merchants Bank Co. Ltd., H Shares
 
13,016
84,463
China Merchants Port Holdings Co. Ltd.
 
5,053
9,935
China Merchants Securities Co. Ltd., H Shares(c)
 
3,365
6,956
China Minsheng Banking Corp. Ltd., H Shares
 
37,036
22,292
China Pacific Insurance (Group) Co. Ltd., H
Shares
 
9,836
39,614
China State Construction International Holdings
Ltd.
 
7,015
10,747
China Taiping Insurance Holdings Co. Ltd.
 
6,192
13,759
China Tower Corp. Ltd., H Shares(c)
 
16,755
23,446
Chongqing Rural Commercial Bank Co. Ltd., H
Shares
 
13,168
10,444
Full Truck Alliance Co. Ltd., ADR
 
3,431
39,628
Fuyao Glass Industry Group Co. Ltd., H Shares(c)
 
2,431
17,526
GDS Holdings Ltd., A Shares(a)
 
7,663
34,535
Geely Automobile Holdings Ltd.
 
27,885
62,547
Giant Biogene Holding Co. Ltd.(c)
 
2,087
14,882
Goldwind Science & Technology Co. Ltd., H
Shares
 
3,476
3,086
Great Wall Motor Co. Ltd.(b)
 
8,858
14,456
Guotai Haitong Securities Co. Ltd., H Shares(c)
 
8,246
17,801
Industrial & Commercial Bank of China Ltd., H
Shares
 
399,240
305,908
JD Logistics, Inc.(a)(c)
 
8,850
15,337
 
Shares
Value
China-(continued)
JD.com, Inc., A Shares
 
12,441
$196,094
Kingboard Laminates Holdings Ltd.(b)
 
2,914
3,741
Kingsoft Corp. Ltd.
 
5,018
22,818
Meituan, B Shares(a)(c)
 
32,616
503,185
New China Life Insurance Co. Ltd., H Shares
 
3,435
21,980
People’s Insurance Co. (Group) of China Ltd.
(The), H Shares
 
44,022
33,821
Pop Mart International Group Ltd.(c)
 
4,910
153,162
Qifu Technology, Inc., ADR(b)
 
861
29,558
Qingdao Port International Co. Ltd., H Shares(c)
 
3,730
3,101
Sichuan Kelun-Biotech Biopharmaceutical Co.
Ltd.(a)
 
86
4,538
Sinopec Engineering Group Co. Ltd., H Shares
 
7,465
5,796
SITC International Holdings Co. Ltd.
 
5,151
16,655
Smoore International Holdings Ltd.(c)
 
12,369
33,352
Tencent Holdings Ltd.
 
17,773
1,244,327
Tingyi Cayman Islands Holding Corp.
 
8,178
12,089
Trip.com Group Ltd.
 
2,900
180,039
Uni-President China Holdings Ltd.
 
6,651
8,403
Xiaomi Corp., B Shares(a)(c)
 
114,523
770,505
Yangzijiang Shipbuilding Holdings Ltd.
 
14,860
29,170
Zhaojin Mining Industry Co. Ltd., H Shares
 
5,513
13,690
Zhuzhou CRRC Times Electric Co. Ltd.
 
1,715
6,957
ZTE Corp., H Shares(b)
 
3,519
11,103
 
 
5,507,297
Colombia-0.19%
Grupo Cibest S.A., Preference Shares
 
2,344
25,775
Czech Republic-0.42%
CEZ A.S.
 
664
38,568
Komercni banka A.S.
 
386
18,434
 
 
57,002
Egypt-0.03%
Talaat Moustafa Group
 
3,094
3,395
Greece-0.33%
Eurobank Ergasias Services and Holdings S.A.
 
10,028
36,914
GEK TERNA S.A.
 
295
7,303
 
 
44,217
Hong Kong-0.28%
United Laboratories International Holdings Ltd.
(The)
 
4,816
9,028
WH Group Ltd.
 
29,054
29,087
 
 
38,115
Hungary-0.89%
OTP Bank Nyrt.
 
1,489
121,264
India-10.51%
360 One Wam Ltd.
 
998
11,945
Bharat Electronics Ltd.
 
14,136
61,411
Bharti Airtel Ltd.
 
12,049
262,297
Blue Star Ltd.
 
524
10,332
Coromandel International Ltd.
 
747
22,842
Divi’s Laboratories Ltd.
 
639
47,851
Dixon Technologies India Ltd.(c)
 
264
50,441
Eicher Motors Ltd.
 
545
33,911
Eternal Ltd.(a)
 
30,054
104,892
Fortis Healthcare Ltd.
 
2,022
19,690
GE Vernova T&D India Ltd.
 
978
30,307
Glenmark Pharmaceuticals Ltd.
 
731
17,740
Hitachi Energy India Ltd.
 
51
11,619
Indian Hotels Co. Ltd. (The)
 
3,804
31,996
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Momentum ETF (EEMO)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
India-(continued)
Indus Towers Ltd.(a)
 
4,715
$19,445
Info Edge (India) Ltd.
 
1,545
24,397
InterGlobe Aviation Ltd.(a)(c)
 
753
50,533
Jyoti CNC Automation Ltd.(a)(c)
 
106
1,227
Lloyds Metals and Energy Ltd.
 
898
15,401
Lupin Ltd.
 
935
20,437
Mahindra & Mahindra Ltd.
 
5,413
197,188
MakeMyTrip Ltd.(a)(b)
 
263
24,614
Mazagon Dock Shipbuilders Ltd.
 
289
9,068
Muthoot Finance Ltd.
 
601
17,874
Oberoi Realty Ltd.
 
354
6,553
Oil India Ltd.
 
1,619
8,099
Oracle Financial Services Software Ltd.(a)
 
76
7,297
PB Fintech Ltd.(a)
 
1,379
28,299
Persistent Systems Ltd.
 
365
21,331
Siemens Ltd.
 
318
10,949
Solar Industries India Ltd.
 
90
14,545
Sun Pharmaceutical Industries Ltd.
 
3,669
71,252
Tech Mahindra Ltd.
 
2,080
34,507
Torrent Pharmaceuticals Ltd.
 
329
14,004
Trent Ltd.
 
964
54,987
United Spirits Ltd.
 
1,006
15,359
Vedanta Ltd.
 
8,847
42,725
 
 
1,427,365
Indonesia-0.25%
PT Alamtri Resources (Indonesia) Tbk
 
52,221
5,854
PT Indofood Sukses Makmur Tbk
 
15,681
8,097
PT Pantai Indah Kapuk Dua Tbk
 
9,754
9,743
PT Perusahaan Gas Negara Tbk
 
43,373
4,288
PT Petrindo Jaya Kreasi Tbk(a)
 
68,290
6,342
 
 
34,324
Kuwait-1.00%
Kuwait Finance House K.S.C.P.
 
51,381
135,364
Malaysia-2.12%
AMMB Holdings Bhd.
 
10,907
12,888
CIMB Group Holdings Bhd.
 
40,221
61,482
Gamuda Bhd.
 
29,160
35,196
IHH Healthcare Bhd.
 
11,724
18,273
KPJ Healthcare Bhd.
 
11,581
7,019
Malayan Banking Bhd.
 
33,097
72,794
RHB Bank Bhd.
 
9,184
13,185
Sime Darby Property Bhd.
 
16,378
5,676
Sunway Bhd.
 
12,144
13,421
Tenaga Nasional Bhd.
 
11,979
36,487
United Plantations Bhd.
 
2,358
11,964
 
 
288,385
Mexico-0.29%
Grupo Aeroportuario del Pacifico S.A.B. de C.V.,
Class B
 
1,704
39,222
Peru-0.45%
Credicorp Ltd.
 
258
61,146
Philippines-0.17%
International Container Terminal Services, Inc.
 
2,991
22,966
Poland-0.89%
CCC S.A.(a)(b)
 
359
18,513
CD Projekt S.A.(b)
 
482
32,309
Powszechna Kasa Oszczednosci Bank Polski S.A.
 
3,219
70,741
 
 
121,563
 
Shares
Value
Qatar-0.19%
Industries Qatar Q.S.C.
 
7,078
$25,821
Romania-0.13%
NEPI Rockcastle N.V.(a)
 
2,348
18,082
Russia-0.00%
Alrosa PJSC(d)
 
11,439
0
Gazprom PJSC(a)(d)
 
43,562
0
Severstal PAO(d)
 
1,045
0
 
 
0
Saudi Arabia-0.52%
ACWA Power Co.(a)
 
917
53,699
Al Rajhi Co. for Cooperative Insurance(a)
 
387
12,238
Astra Industrial Group Co.
 
133
4,958
 
 
70,895
South Africa-1.47%
Capitec Bank Holdings Ltd.
 
479
93,540
Harmony Gold Mining Co. Ltd.
 
2,539
34,247
Mr Price Group Ltd.
 
1,216
14,175
Nedbank Group Ltd.
 
1,812
24,911
OUTsurance Group Ltd.
 
4,916
20,984
Pepkor Holdings Ltd.(c)
 
7,970
12,058
 
 
199,915
South Korea-8.81%
Alteogen, Inc.(a)
 
334
107,743
Coupang, Inc.(a)
 
6,026
177,345
Hanmi Semiconductor Co. Ltd.
 
146
9,470
Hanwha Aerospace Co. Ltd.
 
186
132,702
Hanwha Ocean Co. Ltd.(a)
 
669
53,780
HD Hyundai Electric Co. Ltd.
 
180
64,055
HD Hyundai Heavy Industries Co. Ltd.
 
167
58,610
HD Hyundai Mipo Co. Ltd.
 
102
15,522
HD Korea Shipbuilding & Offshore Engineering Co.
Ltd.
 
254
65,274
Hyundai Glovis Co. Ltd.
 
225
23,767
Hyundai Motor Co., First Pfd.
 
79
9,146
Hyundai Motor Co., Second Pfd.
 
134
15,858
Hyundai Rotem Co. Ltd.
 
363
52,475
Industrial Bank of Korea
 
1,012
14,119
KB Financial Group, Inc.
 
1,549
123,065
Krafton, Inc.(a)
 
133
31,316
LIG Nex1 Co. Ltd.
 
54
24,316
LS Electric Co. Ltd.
 
108
23,837
Meritz Financial Group, Inc.
 
394
32,721
NH Investment & Securities Co. Ltd.
 
599
8,684
Rainbow Robotics(a)
 
37
7,294
Samsung Heavy Industries Co. Ltd.(a)
 
3,252
44,388
Samyang Foods Co. Ltd.
 
34
35,133
SK Square Co. Ltd.(a)
 
320
34,467
SKC Co. Ltd.(a)
 
71
5,109
Yuhan Corp.
 
320
26,946
 
 
1,197,142
Taiwan-21.02%
Caliway Biopharmaceuticals Co. Ltd.(a)
 
9,500
39,290
Cathay Financial Holding Co. Ltd.
 
51,036
103,442
Chroma ATE, Inc.
 
1,881
26,935
CTBC Financial Holding Co. Ltd.
 
87,303
119,962
Delta Electronics, Inc.
 
8,049
151,628
Eva Airways Corp.
 
13,391
16,885
Fubon Financial Holding Co. Ltd.
 
51,368
140,988
Hon Hai Precision Industry Co. Ltd.
 
59,002
346,960
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Momentum ETF (EEMO)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
Taiwan-(continued)
Hua Nan Financial Holdings Co. Ltd.
 
49,033
$46,983
International Games System Co. Ltd.
 
1,723
45,052
Jentech Precision Industrial Co. Ltd.
 
359
17,080
KGI Financial Holding Co. Ltd.
 
77,445
39,230
Lotes Co. Ltd.
 
413
19,312
MediaTek, Inc.
 
5,875
266,047
MiTAC Holdings Corp.(a)
 
3,308
8,377
PharmaEssentia Corp.(a)
 
1,906
31,466
Radiant Opto-Electronics Corp.
 
1,905
8,756
SinoPac Financial Holdings Co. Ltd.
 
41,262
34,046
Taiwan Business Bank
 
24,753
13,300
Taiwan Semiconductor Manufacturing Co. Ltd.
 
34,513
1,328,726
Yuanta Financial Holding Co. Ltd.
 
49,449
51,292
 
 
2,855,757
Thailand-1.57%
Advanced Info Service PCL, NVDR
 
4,443
39,475
Delta Electronics Thailand PCL, NVDR
 
17,308
76,613
Kasikornbank PCL, NVDR
 
6,568
32,478
Krung Thai Bank PCL, NVDR
 
20,872
14,033
SCB X PCL, NVDR
 
3,919
15,140
True Corp. PCL, NVDR(a)
 
114,028
36,177
 
 
213,916
Turkey-1.17%
Akbank T.A.S.
 
12,815
21,248
Aksa Akrilik Kimya Sanayii A.S.
 
5,275
1,235
Aselsan Elektronik Sanayi Ve Ticaret A.S.
 
6,012
27,652
BIM Birlesik Magazalar A.S.
 
1,561
20,389
Gubre Fabrikalari T.A.S.(a)
 
358
2,189
Haci Omer Sabanci Holding A.S.
 
4,287
10,044
Migros Ticaret A.S.
 
337
4,346
MLP Saglik Hizmetleri A.S.(a)(c)
 
382
3,590
Pegasus Hava Tasimaciligi A.S.(a)
 
841
5,209
TAV Havalimanlari Holding A.S.(a)
 
1,331
8,043
Turk Telekomunikasyon A.S.(a)
 
1,728
2,316
Turkcell Iletisim Hizmetleri A.S.
 
5,670
12,999
Turkiye Garanti Bankasi A.S.
 
3,944
13,828
Turkiye Halk Bankasi A.S.(a)
 
2,394
1,652
Turkiye Is Bankasi A.S., Class C
 
26,514
9,653
Turkiye Sigorta A.S.
 
7,664
1,866
 
Shares
Value
Turkey-(continued)
Turkiye Vakiflar Bankasi T.A.O.(a)
 
5,326
$3,771
Yapi Ve Kredi Bankasi A.S.(a)
 
10,162
8,405
 
 
158,435
United Arab Emirates-3.27%
Abu Dhabi Commercial Bank PJSC
 
15,114
66,880
Abu Dhabi Islamic Bank PJSC
 
8,429
55,344
ADNOC Drilling Co. PJSC, Class C
 
13,626
21,662
ADNOC Logistics & Services
 
5,621
7,126
Aldar Properties PJSC
 
17,789
45,970
Dubai Islamic Bank PJSC
 
13,371
36,262
Emaar Development PJSC
 
5,437
22,188
Emaar Properties PJSC
 
42,090
174,305
Salik Co. PJSC
 
8,288
14,424
 
 
444,161
United States-0.26%
JBS N.V., BDR(a)
 
1,713
23,519
Titan S.A.
 
288
11,908
 
 
35,427
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.98%
(Cost $12,166,537)
13,583,797
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-2.05%
Invesco Private Government Fund, 4.32%(e)(f)(g)
 
77,332
77,332
Invesco Private Prime Fund, 4.46%(e)(f)(g)
 
200,893
200,933
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $278,265)
278,265
TOTAL INVESTMENTS IN SECURITIES-102.03%
(Cost $12,444,802)
13,862,062
OTHER ASSETS LESS LIABILITIES-(2.03)%
(276,149
)
NET ASSETS-100.00%
$13,585,913
See accompanying notes which are an integral part of this schedule.
Invesco S&P Emerging Markets Momentum ETF (EEMO)—(continued)
July 31, 2025
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
BDR-Brazilian Depositary Receipt
NVDR-Non-Voting Depositary Receipt
Pfd.-Preferred
 
Notes to Schedule of Investments:
(a)
Non-income producing security.
(b)
All or a portion of this security was out on loan at July 31, 2025.
(c)
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 aggregate value of these securities at
July 31, 2025 was $1,686,112, which represented 12.41% of the Fund’s Net Assets.
(d)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(e)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended July 31, 2025.
 
 
Value
October 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2025
Dividend Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$125,162
$1,035,803
$(1,160,965
)
$-
$-
$-
$1,715
Investments Purchased with
Cash Collateral from Securities
on Loan:
Invesco Private Government
Fund
13,135
1,118,362
(1,054,165
)
-
-
77,332
1,944
*
Invesco Private Prime Fund
34,752
2,748,892
(2,582,698
)
4
(17
)
200,933
5,179
*
Total
$173,049
$4,903,057
$(4,797,828
)
$4
$(17
)
$278,265
$8,838
 
*
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 July 31, 2025.
(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
Invesco S&P International Developed Low Volatility ETF (IDLV)
July 31, 2025
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.66%
Australia-12.86%
ANZ Group Holdings Ltd.
 
94,227
$1,852,517
APA Group
 
314,432
1,694,295
ASX Ltd.
 
37,056
1,664,105
Atlas Arteria Ltd.
 
511,653
1,693,240
Aurizon Holdings Ltd.(a)
 
1,077,578
2,241,044
Brambles Ltd.
 
113,843
1,744,988
Cleanaway Waste Management Ltd.
 
1,149,263
2,121,956
Coles Group Ltd.
 
166,012
2,214,406
Commonwealth Bank of Australia
 
14,534
1,653,120
CSL Ltd.
 
12,411
2,150,917
Lottery Corp. Ltd. (The)
 
660,260
2,294,311
Medibank Pvt. Ltd.
 
569,146
1,863,674
National Australia Bank Ltd.
 
66,456
1,652,295
Orica Ltd.
 
137,303
1,878,519
Rio Tinto PLC
 
28,711
1,713,508
Scentre Group
 
791,644
1,898,132
Sonic Healthcare Ltd.
 
104,254
1,844,444
Stockland
 
466,408
1,656,639
Telstra Group Ltd.
 
876,218
2,797,793
TPG Telecom Ltd.
 
495,394
1,760,438
Transurban Group
 
258,203
2,289,318
Vicinity Ltd.
 
1,052,023
1,659,504
Washington H Soul Pattinson & Co. Ltd.(a)
 
92,662
2,411,859
Wesfarmers Ltd.
 
32,820
1,798,592
Westpac Banking Corp.
 
81,721
1,767,663
Woolworths Group Ltd.
 
96,390
1,949,565
 
 
50,266,842
Belgium-1.86%
Ackermans & van Haaren N.V.
 
6,996
1,721,133
Ageas S.A./N.V.
 
31,796
2,168,230
Anheuser-Busch InBev S.A./N.V.
 
24,134
1,391,602
Groupe Bruxelles Lambert N.V.
 
23,756
1,991,835
 
 
7,272,800
Canada-18.78%
Bank of Montreal(a)
 
17,091
1,890,635
Bank of Nova Scotia (The)
 
44,130
2,460,657
Canadian Imperial Bank of Commerce
 
31,245
2,238,033
Canadian National Railway Co.
 
16,623
1,555,592
Canadian Tire Corp. Ltd., Class A(a)
 
13,299
1,785,128
CCL Industries, Inc., Class B
 
29,709
1,664,288
CGI, Inc., Class A
 
16,441
1,588,506
Choice Properties REIT(a)
 
210,576
2,161,277
Dollarama, Inc.
 
12,051
1,650,731
Element Fleet Management Corp.
 
73,375
1,912,723
Emera, Inc.(a)
 
51,209
2,409,792
Empire Co. Ltd., Class A
 
50,057
1,997,863
Enbridge, Inc.
 
51,391
2,332,491
FirstService Corp.
 
10,244
2,023,682
Fortis, Inc.(a)
 
53,291
2,613,381
George Weston Ltd.
 
10,848
2,065,871
Great-West Lifeco, Inc.
 
50,914
1,916,065
Hydro One Ltd.(b)
 
67,763
2,401,640
IGM Financial, Inc.
 
58,286
1,934,224
Intact Financial Corp.
 
9,636
1,996,131
Loblaw Cos. Ltd.
 
12,977
2,103,183
Metro, Inc.
 
30,049
2,302,768
National Bank of Canada
 
19,481
2,030,882
Pembina Pipeline Corp.(a)
 
51,515
1,918,934
Power Corp. of Canada
 
54,707
2,209,568
Quebecor, Inc., Class B
 
74,437
2,098,697
 
Shares
Value
Canada-(continued)
Rogers Communications, Inc., Class B
 
65,660
$2,197,928
Royal Bank of Canada
 
17,766
2,284,631
Saputo, Inc.
 
86,340
1,814,792
Sun Life Financial, Inc.
 
31,317
1,913,609
TC Energy Corp.
 
38,796
1,856,528
TELUS Corp.
 
117,051
1,889,681
Thomson Reuters Corp.(a)
 
10,192
2,049,974
TMX Group Ltd.
 
47,971
1,954,856
Toromont Industries Ltd.(a)
 
20,892
2,122,974
Toronto-Dominion Bank (The)
 
28,361
2,070,227
 
 
73,417,942
China-0.48%
Wilmar International Ltd.
 
820,946
1,859,599
Denmark-0.47%
Tryg A/S
 
76,063
1,840,668
Finland-1.50%
Elisa OYJ
 
38,392
1,981,173
Kone OYJ, Class B
 
29,517
1,817,916
Sampo OYJ
 
192,272
2,069,846
 
 
5,868,935
France-5.21%
Air Liquide S.A.
 
9,121
1,799,703
AXA S.A.
 
36,659
1,785,726
Bollore SE
 
292,996
1,694,982
Bouygues S.A.
 
42,865
1,770,215
Credit Agricole S.A.
 
96,573
1,782,599
Danone S.A.
 
27,189
2,231,596
ENGIE S.A.
 
88,415
1,993,248
Orange S.A.
 
152,283
2,323,190
TotalEnergies SE
 
28,158
1,679,346
Veolia Environnement S.A.
 
48,980
1,664,761
Vinci S.A.
 
11,861
1,652,435
 
 
20,377,801
Germany-3.22%
Allianz SE
 
4,960
1,965,837
Beiersdorf AG
 
13,746
1,713,124
Deutsche Boerse AG
 
6,020
1,747,227
Deutsche Telekom AG
 
52,160
1,876,259
E.ON SE
 
102,644
1,878,058
Henkel AG & Co. KGaA, Preference Shares(a)
 
24,521
1,895,115
Symrise AG
 
16,383
1,489,435
 
 
12,565,055
Hong Kong-4.17%
CLP Holdings Ltd.
 
287,159
2,492,477
HK Electric Investments & HK Electric
Investments Ltd.
 
4,669,883
3,640,379
HKT Trust & HKT Ltd.(a)
 
1,509,698
2,377,136
Hong Kong & China Gas Co. Ltd. (The)
 
2,316,531
2,067,650
MTR Corp. Ltd.(a)
 
485,901
1,747,918
Power Assets Holdings Ltd.
 
293,856
1,934,777
Sino Land Co. Ltd.
 
1,781,635
2,053,690
 
 
16,314,027
Ireland-0.37%
Kerry Group PLC, Class A
 
15,733
1,457,525
Israel-2.09%
Bank Hapoalim B.M.
 
103,659
1,946,676
First International Bank of Israel Ltd. (The)
 
30,074
2,091,823
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Low Volatility ETF (IDLV)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
Israel-(continued)
Melisron Ltd.
 
19,434
$2,240,747
Mizrahi Tefahot Bank Ltd.
 
30,525
1,888,314
 
 
8,167,560
Italy-3.42%
Assicurazioni Generali S.p.A.
 
49,692
1,859,243
Enel S.p.A.
 
210,681
1,863,301
Eni S.p.A.(a)
 
111,509
1,908,751
Infrastrutture Wireless Italiane S.p.A.(a)(b)
 
151,781
1,799,670
Poste Italiane S.p.A.(b)
 
94,109
2,039,187
Snam S.p.A.
 
335,433
1,949,632
Terna S.p.A.
 
200,662
1,947,297
 
 
13,367,081
Japan-13.44%
Advance Residence Investment Corp.(a)
 
2,413
2,493,709
ANA Holdings, Inc.(a)
 
97,823
1,817,565
Daito Trust Construction Co. Ltd.
 
18,735
1,921,934
Daiwa House REIT Investment Corp.
 
1,593
2,669,411
GLP J-Reit
 
2,571
2,257,547
Haseko Corp.
 
116,417
1,735,426
Invincible Investment Corp.
 
4,011
1,787,585
Japan Metropolitan Fund Investment Corp.
 
3,410
2,485,199
Japan Real Estate Investment Corp.
 
2,735
2,222,870
KDDI Corp.
 
105,501
1,734,951
KDX Realty Investment Corp.
 
1,943
2,092,302
Kirin Holdings Co. Ltd.
 
137,257
1,812,394
McDonald’s Holdings Co. (Japan) Ltd.(a)
 
47,105
1,884,869
MEIJI Holdings Co. Ltd.
 
82,131
1,664,135
Nippon Building Fund, Inc.
 
2,449
2,251,090
Nippon Prologis REIT, Inc.
 
3,345
1,808,830
Nisshin Seifun Group, Inc.
 
156,549
1,818,367
Nomura Real Estate Master Fund, Inc.
 
2,245
2,369,196
NTT, Inc.(a)
 
1,912,121
1,934,891
OBIC Co. Ltd.
 
46,804
1,669,720
ORIX JREIT, Inc.
 
1,941
2,542,480
SoftBank Corp.
 
1,314,141
1,902,568
Takeda Pharmaceutical Co. Ltd.
 
56,562
1,556,895
Tokyu Corp.
 
144,298
1,627,614
United Urban Investment Corp.
 
2,308
2,539,270
Yamada Holdings Co. Ltd.
 
634,938
1,939,037
 
 
52,539,855
Netherlands-1.91%
EXOR N.V.
 
17,745
1,715,222
Koninklijke Ahold Delhaize N.V.
 
49,207
1,949,208
Koninklijke KPN N.V.
 
496,070
2,222,701
Wolters Kluwer N.V.
 
10,018
1,564,975
 
 
7,452,106
Norway-3.26%
DNB Bank ASA
 
67,815
1,723,245
Gjensidige Forsikring ASA
 
69,070
1,824,779
Mowi ASA
 
92,742
1,735,145
Orkla ASA
 
163,238
1,724,163
SpareBank 1 Sør-Norge ASA, Class B
 
98,364
1,730,365
Storebrand ASA
 
132,129
1,884,518
Telenor ASA
 
138,093
2,127,784
 
 
12,749,999
Singapore-6.97%
CapitaLand Ascendas REIT
 
1,052,494
2,255,348
CapitaLand Integrated Commercial Trust
 
1,366,384
2,308,956
City Developments Ltd.
 
492,900
2,335,363
 
Shares
Value
Singapore-(continued)
Genting Singapore Ltd.
 
3,218,452
$1,816,947
Jardine Cycle & Carriage Ltd.
 
110,367
2,236,720
Keppel Ltd.
 
321,699
2,091,719
Mapletree Industrial Trust
 
1,334,666
2,082,294
Mapletree Pan Asia Commercial Trust(a)
 
1,953,275
1,937,076
Oversea-Chinese Banking Corp. Ltd.
 
151,106
1,959,793
Singapore Airlines Ltd.
 
375,655
1,963,697
Singapore Telecommunications Ltd.
 
569,728
1,699,248
United Overseas Bank Ltd.
 
66,768
1,856,499
UOL Group Ltd.
 
509,590
2,695,973
 
 
27,239,633
Spain-1.91%
Aena S.M.E. S.A.(b)
 
71,136
1,921,183
Endesa S.A.
 
57,336
1,666,491
Iberdrola S.A.
 
110,466
1,947,294
Telefonica S.A.(a)
 
368,985
1,909,848
 
 
7,444,816
Sweden-4.11%
Alfa Laval AB
 
40,669
1,772,304
Assa Abloy AB, Class B
 
53,140
1,763,722
Essity AB, Class B
 
66,929
1,655,284
Holmen AB, Class B(a)
 
46,337
1,727,386
Industrivarden AB, Class C(a)
 
49,857
1,846,759
Investor AB, Class B
 
58,675
1,705,504
L E Lundbergforetagen AB, Class B(a)
 
37,478
1,833,586
Tele2 AB, Class B
 
128,050
1,985,000
Telia Co. AB(a)
 
504,798
1,788,180
 
 
16,077,725
Switzerland-3.91%
Chocoladefabriken Lindt & Spruengli AG,
PC(a)
 
112
1,647,990
EMS-Chemie Holding AG
 
2,476
1,948,576
Givaudan S.A.
 
346
1,446,757
Nestle S.A.
 
19,315
1,688,104
Schindler Holding AG, PC
 
5,139
1,858,905
Swiss Life Holding AG
 
2,013
2,085,575
Swisscom AG
 
3,801
2,641,718
Zurich Insurance Group AG
 
2,863
1,953,352
 
 
15,270,977
United Kingdom-7.88%
Admiral Group PLC
 
39,425
1,780,777
Auto Trader Group PLC(b)
 
154,953
1,714,148
Aviva PLC
 
215,331
1,843,552
Berkeley Group Holdings PLC (The)
 
30,053
1,448,260
British American Tobacco PLC
 
36,860
1,978,900
Coca-Cola Europacific Partners PLC
 
20,551
1,991,803
Compass Group PLC
 
52,798
1,859,088
Haleon PLC
 
354,108
1,664,402
Imperial Brands PLC
 
51,320
2,004,513
London Stock Exchange Group PLC
 
11,818
1,443,502
National Grid PLC
 
125,769
1,770,931
Pearson PLC
 
141,035
1,998,448
RELX PLC
 
36,903
1,921,442
Shell PLC
 
50,782
1,828,488
SSE PLC
 
70,580
1,733,612
Tesco PLC
 
331,509
1,866,366
Unilever PLC
 
33,328
1,937,661
 
 
30,785,893
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Low Volatility ETF (IDLV)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
United States-1.84%
Ferrovial SE
 
33,013
$1,697,313
Novartis AG
 
15,196
1,731,054
Sanofi S.A.
 
17,548
1,579,922
Waste Connections, Inc.
 
11,685
2,186,812
 
 
7,195,101
Total Common Stocks & Other Equity Interests
(Cost $360,178,832)
389,531,940
Money Market Funds-0.01%
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(c)(d)
(Cost $34,342)
 
34,342
34,342
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.67%
(Cost $360,213,174)
389,566,282
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-7.86%
Invesco Private Government Fund,
4.32%(c)(d)(e)
 
8,525,746
$8,525,746
Invesco Private Prime Fund, 4.46%(c)(d)(e)
 
22,194,792
22,199,231
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $30,725,086)
30,724,977
TOTAL INVESTMENTS IN SECURITIES-107.53%
(Cost $390,938,260)
420,291,259
OTHER ASSETS LESS LIABILITIES-(7.53)%
(29,423,040
)
NET ASSETS-100.00%
$390,868,219
 
Investment Abbreviations:
PC-Participation Certificate
REIT-Real Estate Investment Trust
 
Notes to Schedule of Investments:
(a)
All or a portion of this security was out on loan at July 31, 2025.
(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 aggregate value of these securities at
July 31, 2025 was $9,875,828, which represented 2.53% of the Fund’s Net Assets.
(c)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended July 31, 2025.
 
 
Value
October 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2025
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$9,736,106
$(9,701,764
)
$-
$-
$34,342
$12,381
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
5,055,427
59,314,750
(55,844,431
)
-
-
8,525,746
251,932
*
Invesco Private Prime Fund
13,130,209
111,037,636
(101,967,025
)
757
(2,346
)
22,199,231
679,071
*
Total
$18,185,636
$180,088,492
$(167,513,220
)
$757
$(2,346
)
$30,759,319
$943,384
 
*
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 July 31, 2025.
(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 S&P International Developed Momentum ETF (IDMO)
July 31, 2025
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.86%
Australia-8.58%
Aristocrat Leisure Ltd.
 
139,431
$6,254,948
Brambles Ltd.
 
201,673
3,091,248
Coles Group Ltd.
 
207,428
2,766,847
Commonwealth Bank of Australia
 
290,776
33,073,322
Computershare Ltd.
 
87,716
2,365,672
Evolution Mining Ltd.
 
352,074
1,596,365
Goodman Group
 
272,787
6,110,490
Insurance Australia Group Ltd.
 
514,830
2,895,355
JB Hi-Fi Ltd.(a)
 
26,326
1,878,493
Macquarie Group Ltd.
 
49,718
6,898,077
National Australia Bank Ltd.
 
414,367
10,302,405
Pro Medicus Ltd.
 
16,306
3,354,765
Qantas Airways Ltd.
 
152,589
1,060,233
QBE Insurance Group Ltd.
 
234,359
3,483,025
SGH Ltd.
 
24,213
793,422
Suncorp Group Ltd.
 
228,716
3,071,611
Technology One Ltd.
 
86,521
2,267,490
Wesfarmers Ltd.
 
164,665
9,023,922
Westpac Banking Corp.
 
688,428
14,891,013
 
 
115,178,703
Austria-0.69%
BAWAG Group AG(b)(c)
 
23,326
2,952,561
Erste Group Bank AG
 
69,006
6,328,709
 
 
9,281,270
Belgium-0.72%
Ageas S.A./N.V.
 
26,397
1,800,062
UCB S.A.
 
36,395
7,842,609
 
 
9,642,671
Cameroon-0.07%
Golar LNG Ltd.(a)
 
22,603
930,339
Canada-15.74%
Agnico Eagle Mines Ltd.
 
140,325
17,458,539
Alamos Gold, Inc., Class A(a)
 
87,647
2,134,516
AtkinsRealis Group, Inc.
 
26,412
1,874,277
Bank of Nova Scotia (The)
 
182,787
10,192,073
Brookfield Asset Management Ltd.,
Class A
 
77,616
4,796,580
Brookfield Corp.
 
303,593
20,380,070
Canadian Imperial Bank of Commerce
 
248,627
17,808,782
Descartes Systems Group, Inc. (The)(c)
 
12,779
1,353,092
Dollarama, Inc.
 
39,600
5,424,359
Enbridge, Inc.
 
532,756
24,180,275
Fairfax Financial Holdings Ltd.
 
3,014
5,342,729
George Weston Ltd.
 
8,922
1,699,087
iA Financial Corp., Inc.
 
15,380
1,508,799
IGM Financial, Inc.
 
13,158
436,649
Intact Financial Corp.
 
23,732
4,916,166
Kinross Gold Corp.
 
288,978
4,633,932
Loblaw Cos. Ltd.
 
26,005
4,214,633
Manulife Financial Corp.
 
354,636
10,996,525
Metro, Inc.
 
33,715
2,583,707
National Bank of Canada(a)
 
62,797
6,546,549
Pan American Silver Corp.
 
57,979
1,569,675
Pembina Pipeline Corp.(a)
 
75,961
2,829,548
Royal Bank of Canada
 
322,202
41,433,795
Sun Life Financial, Inc.
 
80,418
4,913,900
TC Energy Corp.
 
206,519
9,882,678
TMX Group Ltd.(a)
 
52,272
2,130,125
 
 
211,241,060
 
Shares
Value
China-0.21%
BOC Hong Kong (Holdings) Ltd.
 
621,797
$2,792,029
Finland-0.06%
Amer Sports, Inc.(c)
 
23,159
869,389
France-3.25%
Cie de Saint-Gobain S.A.
 
74,398
8,559,784
EssilorLuxottica S.A.(a)
 
59,559
17,762,134
Safran S.A.
 
52,115
17,235,449
 
 
43,557,367
Germany-17.22%
adidas AG
 
23,650
4,533,473
Allianz SE
 
70,648
28,000,504
Commerzbank AG
 
189,456
6,928,960
Deutsche Bank AG
 
330,537
10,918,707
Deutsche Boerse AG
 
31,128
9,034,498
Deutsche Telekom AG
 
862,794
31,035,753
Fresenius SE & Co. KGaA
 
67,691
3,240,424
Heidelberg Materials AG
 
27,440
6,348,849
MTU Aero Engines AG
 
10,457
4,523,962
Muenchener Rueckversicherungs-
Gesellschaft AG in Muenchen, Class R
 
20,140
13,223,784
Rheinmetall AG
 
12,654
25,122,112
SAP SE
 
238,291
68,340,746
Siemens Energy AG, Class A(c)
 
170,583
19,807,874
 
 
231,059,646
Hong Kong-0.09%
Cathay Pacific Airways Ltd.
 
159,438
236,975
Hongkong Land Holdings Ltd.
 
151,428
914,736
 
 
1,151,711
Ireland-0.14%
AIB Group PLC
 
244,937
1,937,896
Israel-1.96%
Bank Hapoalim B.M.
 
262,050
4,921,197
Bank Leumi le-Israel B.M.
 
345,164
6,394,147
Big Shopping Centers Ltd.(c)
 
2,652
505,837
Cellebrite DI Ltd.(c)
 
24,290
339,574
Check Point Software Technologies Ltd.(c)
 
10,687
1,989,919
Clal Insurance Enterprises Holdings Ltd.
 
11,655
559,579
Elbit Systems Ltd.
 
3,796
1,753,696
First International Bank of Israel Ltd. (The)
 
7,410
515,409
Harel Insurance Investments & Financial
Services Ltd.(a)
 
29,459
889,321
Israel Discount Bank Ltd., Class A
 
222,853
2,134,277
Menora Mivtachim Holdings Ltd.
 
5,324
463,470
Migdal Insurance & Financial Holdings Ltd.
 
88,157
269,423
Nova Ltd.(c)
 
3,680
982,737
Phoenix Finance Ltd.
 
36,477
1,244,644
Plus500 Ltd.
 
15,802
702,753
Shufersal Ltd.
 
52,273
632,864
Tower Semiconductor Ltd.(c)
 
16,804
780,839
Wix.com Ltd.(c)
 
9,015
1,226,311
 
 
26,305,997
Italy-5.31%
Assicurazioni Generali S.p.A.
 
271,874
10,172,259
Banca Mediolanum S.p.A.
 
49,538
876,356
FinecoBank Banca Fineco S.p.A.
 
95,130
2,031,649
Intesa Sanpaolo S.p.A.
 
3,446,916
20,829,562
Leonardo S.p.A.
 
86,683
4,686,205
Mediobanca Banca di Credito Finanziario
S.p.A.
 
85,622
1,890,620
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Momentum ETF (IDMO)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
Italy-(continued)
Poste Italiane S.p.A.(b)
 
116,235
$2,518,621
Prysmian S.p.A.
 
53,263
4,266,259
UniCredit S.p.A.
 
324,238
23,925,473
 
 
71,197,004
Japan-9.30%
ASICS Corp.
 
227,051
5,348,627
BayCurrent, Inc.
 
21,171
1,218,104
Fujikura Ltd.
 
82,266
5,595,734
Hitachi Ltd.
 
604,543
18,536,902
IHI Corp.
 
46,300
5,166,268
Kawasaki Heavy Industries Ltd.
 
27,880
2,040,288
Konami Group Corp.
 
15,217
2,070,029
Mitsubishi Heavy Industries Ltd.
 
660,356
15,798,876
Mizuho Financial Group, Inc.
 
363,792
10,692,249
MonotaRO Co. Ltd.
 
41,809
745,998
MS&AD Insurance Group Holdings, Inc.
 
167,917
3,594,999
NEC Corp.
 
167,984
4,833,586
NS Solutions Corp.(a)
 
11,147
261,976
Obayashi Corp.
 
90,793
1,339,660
Otsuka Holdings Co. Ltd.
 
73,335
3,498,534
Rakuten Bank Ltd.(c)
 
15,216
710,225
Recruit Holdings Co. Ltd.
 
284,536
16,916,066
Ricoh Co. Ltd.
 
80,858
710,440
Ryohin Keikaku Co. Ltd.(a)
 
49,195
2,307,868
Sanrio Co. Ltd.
 
55,483
2,281,202
Sanwa Holdings Corp.
 
62,197
1,700,287
Seibu Holdings, Inc.(a)
 
32,255
903,184
Sompo Holdings, Inc.
 
152,037
4,492,209
Sumitomo Mitsui Financial Group, Inc.
 
531,806
13,442,852
ZOZO, Inc.
 
63,370
628,595
 
 
124,834,758
Netherlands-2.30%
argenx SE(c)
 
12,069
8,129,698
ING Groep N.V.
 
422,910
9,885,043
Koninklijke Ahold Delhaize N.V.
 
177,800
7,043,087
Wolters Kluwer N.V.
 
36,950
5,772,192
 
 
30,830,020
New Zealand-0.38%
Fisher & Paykel Healthcare Corp. Ltd.
 
102,942
2,235,211
Xero Ltd.(c)
 
25,295
2,918,428
 
 
5,153,639
Norway-0.73%
Gjensidige Forsikring ASA
 
33,320
880,290
Kongsberg Gruppen ASA
 
131,538
3,948,048
Orkla ASA
 
126,200
1,332,958
SpareBank 1 Sør-Norge ASA, Class B
 
27,557
484,767
Storebrand ASA
 
91,894
1,310,658
Telenor ASA
 
87,564
1,349,216
Vend Marketplaces ASA, Class B
 
12,620
476,265
 
 
9,782,202
Singapore-4.73%
DBS Group Holdings Ltd.
 
541,126
19,877,828
Oversea-Chinese Banking Corp. Ltd.
 
858,444
11,133,723
Sea Ltd., ADR(c)
 
104,993
16,447,153
Singapore Exchange Ltd.
 
141,911
1,741,465
Singapore Technologies Engineering Ltd.(a)
 
241,292
1,624,554
Singapore Telecommunications Ltd.
 
1,461,605
4,359,324
United Overseas Bank Ltd.
 
296,927
8,256,121
 
 
63,440,168
 
Shares
Value
Spain-2.59%
ACS Actividades de Construccion y
Servicios S.A.
 
32,902
$2,277,392
Aena S.M.E. S.A.(b)
 
109,864
2,967,118
CaixaBank S.A.
 
721,697
6,809,885
Iberdrola S.A.(a)
 
858,178
15,127,920
Industria de Diseno Textil S.A.
 
156,625
7,503,483
 
 
34,685,798
Sweden-3.94%
AAK AB
 
27,423
707,570
Addtech AB, Class B
 
34,318
1,157,190
Investor AB, Class A
 
93,381
2,717,306
Investor AB, Class B
 
288,724
8,392,330
Lifco AB, Class B
 
32,105
1,147,066
Nordnet AB publ(a)
 
28,005
758,588
Securitas AB, Class B(a)
 
79,172
1,178,564
Skanska AB, Class B
 
51,734
1,210,414
Spotify Technology S.A.(c)
 
45,327
28,399,178
Tele2 AB, Class B
 
107,208
1,661,913
Telefonaktiebolaget LM Ericsson, Class B(a)
 
490,953
3,576,840
Telia Co. AB(a)
 
308,287
1,092,066
Trelleborg AB, Class B
 
23,270
848,062
 
 
52,847,087
Switzerland-3.29%
ABB Ltd.
 
227,956
14,888,764
Galderma Group AG, Class A
 
10,486
1,616,481
Sandoz Group AG(a)
 
68,026
3,891,292
Schindler Holding AG
 
3,063
1,074,549
Swiss Life Holding AG
 
4,116
4,264,395
Zurich Insurance Group AG
 
27,044
18,451,436
 
 
44,186,917
United Kingdom-16.35%
3i Group PLC
 
193,848
10,613,938
Aviva PLC
 
357,927
3,064,385
Barclays PLC
 
4,067,382
19,922,105
British American Tobacco PLC
 
421,730
22,641,388
Compass Group PLC
 
271,045
9,543,857
HSBC Holdings PLC
 
3,399,757
41,503,852
Imperial Brands PLC
 
185,877
7,260,189
InterContinental Hotels Group PLC
 
30,533
3,519,706
International Consolidated Airlines Group
S.A.(a)
 
719,130
3,600,548
Lloyds Banking Group PLC
 
11,318,920
11,630,698
London Stock Exchange Group PLC
 
92,929
11,350,755
NatWest Group PLC
 
1,887,693
13,130,376
Pearson PLC
 
126,661
1,794,771
RELX PLC
 
254,022
13,226,253
Rolls-Royce Holdings PLC
 
2,115,711
30,089,656
Standard Chartered PLC
 
490,685
8,814,488
Tesco PLC
 
1,123,573
6,325,617
Weir Group PLC (The)
 
36,933
1,300,143
 
 
219,332,725
United States-2.21%
ARM Holdings PLC, ADR(a)(c)
 
14,167
2,002,860
CyberArk Software Ltd.(c)
 
7,864
3,235,800
Holcim AG(c)
 
94,554
7,542,533
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Momentum ETF (IDMO)—(continued)
July 31, 2025
(Unaudited)
 
Shares
Value
United States-(continued)
Swiss Re AG
 
51,861
$9,285,477
Waste Connections, Inc.(a)
 
40,818
7,638,964
 
 
29,705,634
Total Common Stocks & Other Equity Interests
(Cost $1,199,075,173)
1,339,944,030
Money Market Funds-0.05%
Invesco Government & Agency Portfolio,
Institutional Class, 4.25%(d)(e)
(Cost $640,836)
 
640,836
640,836
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.91%
(Cost $1,199,716,009)
1,340,584,866
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-0.98%
Invesco Private Government Fund,
4.32%(d)(e)(f)
 
3,671,561
$3,671,561
Invesco Private Prime Fund, 4.46%(d)(e)(f)
 
9,553,393
9,555,304
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $13,226,865)
13,226,865
TOTAL INVESTMENTS IN SECURITIES-100.89%
(Cost $1,212,942,874)
1,353,811,731
OTHER ASSETS LESS LIABILITIES-(0.89)%
(12,008,310
)
NET ASSETS-100.00%
$1,341,803,421
 
Investment Abbreviations:
ADR-American Depositary Receipt
 
Notes to Schedule of Investments:
(a)
All or a portion of this security was out on loan at July 31, 2025.
(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 aggregate value of these securities at
July 31, 2025 was $8,438,300, which represented less than 1% of the Fund’s Net Assets.
(c)
Non-income producing security.
(d)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended July 31, 2025.
 
 
Value
October 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2025
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$16,327,522
$(15,686,686
)
$-
$-
$640,836
$14,589
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
3,796,768
89,982,665
(90,107,872
)
-
-
3,671,561
238,500
*
Invesco Private Prime Fund
9,913,593
206,763,710
(207,120,348
)
90
(1,741
)
9,555,304
646,801
*
Total
$13,710,361
$313,073,897
$(312,914,906
)
$90
$(1,741
)
$13,867,701
$899,890
 
*
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 July 31, 2025.
(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.
Notes to Quarterly Schedules of Portfolio Holdings
July 31, 2025
(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. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
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 July 31, 2025. 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 S&P Emerging Markets Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$82,055,148
$304,272,909
$0
$386,328,057
Money Market Funds
193,030
7,849,010
-
8,042,040
Total Investments in Securities
82,248,178
312,417,123
-
394,370,097
Other Investments - Assets*
Futures Contracts
52,067
-
-
52,067
Total Investments
$82,300,245
$312,121,919
$0
$394,422,164
Invesco S&P Emerging Markets Momentum ETF
Investments in Securities
Common Stocks & Other Equity Interests
$863,267
$12,720,530
$0
$13,583,797
Money Market Funds
-
278,265
-
278,265
Total Investments
$863,267
$12,998,795
$0
$13,862,062
Invesco S&P International Developed Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$77,596,557
$311,935,383
$-
$389,531,940
Money Market Funds
34,342
30,724,977
-
30,759,319
Total Investments
$77,630,899
$342,660,360
$-
$420,291,259
Invesco S&P International Developed Momentum ETF
Investments in Securities
Common Stocks & Other Equity Interests
$274,320,547
$1,065,623,483
$-
$1,339,944,030
Money Market Funds
640,836
13,226,865
-
13,867,701
Total Investments
$274,961,383
$1,078,850,348
$-
$1,353,811,731
 
*
Unrealized appreciation (depreciation).