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        <name>CorVel Corp.</name>
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        <name>National HealthCare Corp.</name>
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        <name>Select Medical Holdings Corp.</name>
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        <name>Organon &amp; Co.</name>
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        <name>Enovis Corp.</name>
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        <name>QuidelOrtho Corp.</name>
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        <name>OmniAb, Inc.</name>
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        <name>Fortrea Holdings Inc.</name>
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        <name>STAAR Surgical Co.</name>
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        <name>Alkermes PLC</name>
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        <name>Sarepta Therapeutics, Inc.</name>
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      <invstOrSec>
        <name>NeoGenomics, Inc.</name>
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      <invstOrSec>
        <name>Indivior Pharmaceuticals, Inc.</name>
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        <name>TG Therapeutics, Inc.</name>
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        <name>PTC Therapeutics, Inc.</name>
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      <invstOrSec>
        <name>ANI Pharmaceuticals, Inc.</name>
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        <name>Veracyte, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Omnicell, Inc.</name>
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        <name>U.S. Physical Therapy, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Xencor, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Perrigo Co. PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BioLife Solutions, Inc.</name>
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        <name>Phibro Animal Health Corp.</name>
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        <name>Prestige Consumer Healthcare Inc.</name>
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        <name>AMN Healthcare Services, Inc.</name>
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        <name>Ligand Pharmaceuticals Inc.</name>
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        <name>Amphastar Pharmaceuticals, Inc.</name>
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        <name>ADMA Biologics, Inc.</name>
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        <name>Vericel Corp.</name>
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        <name>Acadia Pharmaceuticals Inc.</name>
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        <name>Catalyst Pharmaceuticals, Inc.</name>
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        <name>Corcept Therapeutics Inc.</name>
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        <title>Corcept Therapeutics Inc.</title>
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        <name>Artivion, Inc.</name>
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        <title>Artivion, Inc.</title>
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        <name>HealthStream, Inc.</name>
        <lei>529900OJ88H8635JNH64</lei>
        <title>HealthStream, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>419441.11000000</valUSD>
        <pctVal>0.300108539313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neogen Corp.</name>
        <lei>549300HJT9FC36N4UW43</lei>
        <title>Neogen Corp.</title>
        <cusip>640491106</cusip>
        <identifiers>
          <isin value="US6404911066"/>
        </identifiers>
        <balance>180885.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2031338.55000000</valUSD>
        <pctVal>1.453415105381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UFP Technologies, Inc.</name>
        <lei>549300RJ8LY41HS70C91</lei>
        <title>UFP Technologies, Inc.</title>
        <cusip>902673102</cusip>
        <identifiers>
          <isin value="US9026731029"/>
        </identifiers>
        <balance>6419.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1351713.02000000</valUSD>
        <pctVal>0.967145590482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="859876.29000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Collegium Pharmaceutical, Inc.</name>
        <lei>54930049FXZMTLW8D496</lei>
        <title>Collegium Pharmaceutical, Inc.</title>
        <cusip>19459J104</cusip>
        <identifiers>
          <isin value="US19459J1043"/>
        </identifiers>
        <balance>26314.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1096504.38000000</valUSD>
        <pctVal>0.784544766803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glaukos Corp.</name>
        <lei>5299004JA1LHE21M6T14</lei>
        <title>Glaukos Corp.</title>
        <cusip>377322102</cusip>
        <identifiers>
          <isin value="US3773221029"/>
        </identifiers>
        <balance>47811.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5756444.40000000</valUSD>
        <pctVal>4.118714354261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
