NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco S&P 500 Revenue ETF (RWL)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Communication Services-8.35%
Activision Blizzard, Inc.
  7,597   $546,832
Alphabet, Inc., Class A(b)
  3,782   5,421,573
Alphabet, Inc., Class C(b)
  3,778   5,398,460
AT&T, Inc.
  313,562   9,676,523
CenturyLink, Inc.
  110,961   1,090,747
Charter Communications, Inc., Class A(b)
  6,257   3,403,808
Comcast Corp., Class A
  163,863   6,488,975
Discovery, Inc., Class A(b)(c)
  11,176   243,078
Discovery, Inc., Class C(b)
  12,021   235,491
DISH Network Corp., Class A(b)
  24,566   777,514
Electronic Arts, Inc.(b)
  3,126   384,123
Facebook, Inc., Class A(b)
  22,501   5,064,750
Fox Corp., Class A
  10,204   297,651
Fox Corp., Class B
  10,457   300,952
Interpublic Group of Cos., Inc. (The)
  28,765   492,169
Live Nation Entertainment, Inc.(b)
  11,421   561,456
Netflix, Inc.(b)
  4,183   1,755,731
News Corp., Class A
  23,689   290,190
News Corp., Class B
  23,149   283,807
Omnicom Group, Inc.
  11,818   647,508
Take-Two Interactive Software, Inc.(b)
  1,705   232,170
T-Mobile US, Inc.(b)
  38,789   3,880,452
Twitter, Inc.(b)
  7,217   223,510
Verizon Communications, Inc.
  142,229   8,161,100
ViacomCBS, Inc., Class B
  47,407   983,221
Walt Disney Co. (The)
  31,077   3,645,332
        60,487,123
Consumer Discretionary-13.25%
Advance Auto Parts, Inc.
  4,098   570,933
Amazon.com, Inc.(b)
  9,914   24,213,656
Aptiv PLC
  10,047   757,041
AutoZone, Inc.(b)
  640   734,630
Best Buy Co., Inc.
  33,650   2,627,728
Booking Holdings, Inc.(b)
  497   814,792
BorgWarner, Inc.
  15,142   486,815
CarMax, Inc.(b)
  12,776   1,124,927
Carnival Corp.
  28,161   443,254
Chipotle Mexican Grill, Inc.(b)
  425   426,662
D.R. Horton, Inc.
  20,911   1,156,378
Darden Restaurants, Inc.
  4,844   372,310
Dollar General Corp.
  11,380   2,179,384
Dollar Tree, Inc.(b)
  16,672   1,631,689
eBay, Inc.
  19,779   900,736
Expedia Group, Inc.
  6,880   546,822
Ford Motor Co.
  1,127,809   6,439,789
Gap, Inc. (The)
  63,767   567,526
Garmin Ltd.
  2,406   216,949
General Motors Co.
  266,583   6,899,168
Genuine Parts Co.
  11,965   998,001
H&R Block, Inc.
  8,623   146,591
Hanesbrands, Inc.
  31,574   311,320
Harley-Davidson, Inc.
  9,481   202,325
Hasbro, Inc.
  2,955   217,222
Hilton Worldwide Holdings, Inc.
  5,704   452,384
Home Depot, Inc. (The)
  34,116   8,477,144
Kohl’s Corp.
  26,953   518,037
L Brands, Inc.
  48,059   778,075
Las Vegas Sands Corp.
  12,912   619,001
Leggett & Platt, Inc.
  5,991   183,265
Lennar Corp., Class A
  24,716   1,494,329
LKQ Corp.(b)
  22,530   618,674
  Shares   Value
Consumer Discretionary-(continued)
Lowe’s Cos., Inc.
  39,760   $5,182,716
Marriott International, Inc., Class A
  9,349   827,387
McDonald’s Corp.
  6,930   1,291,198
MGM Resorts International
  25,380   436,028
Mohawk Industries, Inc.(b)
  4,699   437,947
Newell Brands, Inc.
  29,252   384,664
NIKE, Inc., Class B
  26,833   2,645,197
Nordstrom, Inc.(c)
  26,247   423,364
Norwegian Cruise Line Holdings Ltd.(b)(c)
  7,449   116,651
NVR, Inc.(b)
  132   425,253
O’Reilly Automotive, Inc.(b)
  1,491   622,105
PulteGroup, Inc.
  16,463   559,248
PVH Corp.
  6,085   276,685
Ralph Lauren Corp.
  3,538   267,154
Ross Stores, Inc.
  8,899   862,847
Royal Caribbean Cruises Ltd.
  5,564   288,605
Starbucks Corp.
  19,781   1,542,720
Tapestry, Inc.
  15,097   205,319
Target Corp.
  40,209   4,918,767
Tiffany & Co.
  2,123   272,020
TJX Cos., Inc. (The)
  44,412   2,343,177
Tractor Supply Co.
  5,699   695,392
Ulta Beauty, Inc.(b)
  1,840   448,978
Under Armour, Inc., Class A(b)(c)
  8,653   75,714
Under Armour, Inc., Class C(b)
  9,508   74,733
VF Corp.
  8,947   501,927
Whirlpool Corp.
  9,093   1,107,709
Wynn Resorts Ltd.
  3,322   276,656
Yum! Brands, Inc.
  3,538   317,465
        95,955,183
Consumer Staples-13.56%
Altria Group, Inc.
  25,675   1,002,609
Archer-Daniels-Midland Co.
  93,376   3,670,610
Brown-Forman Corp., Class B
  3,372   222,316
Campbell Soup Co.
  12,751   650,046
Church & Dwight Co., Inc.
  3,998   300,130
Clorox Co. (The)
  2,667   550,069
Coca-Cola Co. (The)
  41,914   1,956,545
Colgate-Palmolive Co.
  15,039   1,087,771
Conagra Brands, Inc.
  23,165   805,910
Constellation Brands, Inc., Class A
  2,963   511,710
Costco Wholesale Corp.
  34,394   10,609,517
Coty, Inc., Class A
  50,320   182,662
Estee Lauder Cos., Inc. (The), Class A
  4,887   965,036
General Mills, Inc.
  21,628   1,363,429
Hershey Co. (The)
  3,524   478,136
Hormel Foods Corp.
  13,760   671,901
JM Smucker Co. (The)
  4,933   562,017
Kellogg Co.
  13,444   878,028
Kimberly-Clark Corp.
  9,024   1,276,354
Kraft Heinz Co. (The)
  53,234   1,622,040
Kroger Co. (The)
  283,676   9,253,511
Lamb Weston Holdings, Inc.
  2,972   178,498
McCormick & Co., Inc.
  2,110   369,588
Molson Coors Beverage Co., Class B
  13,453   510,676
Mondelez International, Inc., Class A
  32,010   1,668,361
Monster Beverage Corp.(b)
  4,315   310,292
PepsiCo, Inc.
  31,449   4,137,116
Philip Morris International, Inc.
  23,077   1,692,929
Procter & Gamble Co. (The)
  35,990   4,171,961
Sysco Corp.
  47,307   2,609,454
Tyson Foods, Inc., Class A
  31,894   1,959,567
Invesco S&P 500 Revenue ETF (RWL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Consumer Staples-(continued)
Walgreens Boots Alliance, Inc.
  155,780   $6,689,193
Walmart, Inc.
  284,835   35,336,630
        98,254,612
Energy-6.07%
Apache Corp.
  19,503   210,437
Baker Hughes Co., Class A
  65,485   1,081,157
Cabot Oil & Gas Corp.
  8,893   176,437
Chevron Corp.
  81,191   7,445,215
Concho Resources, Inc.
  3,644   198,671
ConocoPhillips
  36,369   1,534,044
Devon Energy Corp.
  22,211   240,101
Diamondback Energy, Inc.
  2,689   114,498
EOG Resources, Inc.
  15,272   778,414
Exxon Mobil Corp.
  247,596   11,258,190
Halliburton Co.
  62,885   738,899
Hess Corp.
  6,462   306,751
HollyFrontier Corp.
  22,654   712,468
Kinder Morgan, Inc.
  43,509   687,442
Marathon Oil Corp.
  26,703   142,594
Marathon Petroleum Corp.
  140,240   4,928,034
National Oilwell Varco, Inc.
  23,542   293,569
Noble Energy, Inc.
  12,435   108,558
Occidental Petroleum Corp.
  31,954   413,804
ONEOK, Inc.
  9,434   346,133
Phillips 66
  62,392   4,882,798
Pioneer Natural Resources Co.
  4,309   394,704
Schlumberger Ltd.
  55,881   1,032,122
TechnipFMC PLC (United Kingdom)
  43,118   319,073
Valero Energy Corp.
  76,762   5,115,420
Williams Cos., Inc. (The)
  23,811   486,459
        43,945,992
Financials-11.37%
Aflac, Inc.
  27,029   985,748
Allstate Corp. (The)
  25,331   2,477,625
American Express Co.
  24,486   2,327,884
American International Group, Inc.
  63,926   1,921,616
Ameriprise Financial, Inc.
  4,953   693,767
Aon PLC, Class A
  3,454   680,265
Arthur J. Gallagher & Co.
  4,775   450,187
Assurant, Inc.
  4,910   503,668
Bank of America Corp.
  219,091   5,284,475
Bank of New York Mellon Corp. (The)
  26,133   971,364
Berkshire Hathaway, Inc., Class B(b)
  73,779   13,691,907
BlackRock, Inc.
  1,890   999,130
Capital One Financial Corp.
  21,228   1,444,353
Cboe Global Markets, Inc.
  1,511   160,861
Charles Schwab Corp. (The)
  15,619   560,878
Chubb Ltd.
  14,120   1,721,793
Cincinnati Financial Corp.
  4,019   236,920
Citigroup, Inc.
  88,755   4,252,252
Citizens Financial Group, Inc.
  12,312   296,719
CME Group, Inc., Class A
  1,559   284,673
Comerica, Inc.
  3,458   125,698
Discover Financial Services
  10,388   493,534
E*TRADE Financial Corp.
  4,643   211,442
Everest Re Group Ltd.
  1,973   391,463
Fifth Third Bancorp
  18,049   349,970
First Republic Bank
  2,297   248,466
Franklin Resources, Inc.
  14,379   271,332
Globe Life, Inc.
  2,729   210,188
Goldman Sachs Group, Inc. (The)
  15,207   2,988,023
  Shares   Value
Financials-(continued)
Hartford Financial Services Group, Inc. (The)
  21,086   $807,383
Huntington Bancshares, Inc.
  23,455   208,515
Intercontinental Exchange, Inc.
  4,670   454,157
Invesco Ltd.(d)
  20,730   165,218
JPMorgan Chase & Co.
  69,742   6,786,594
KeyCorp
  24,822   294,141
Lincoln National Corp.
  18,889   716,460
Loews Corp.
  18,518   615,538
M&T Bank Corp.
  2,623   277,146
MarketAxess Holdings, Inc.
  106   53,911
Marsh & McLennan Cos., Inc.
  9,715   1,029,013
MetLife, Inc.
  84,484   3,042,269
Moody’s Corp.
  1,274   340,680
Morgan Stanley
  68,274   3,017,711
MSCI, Inc.
  401   131,869
Nasdaq, Inc.
  2,762   327,186
Northern Trust Corp.
  4,178   330,104
People’s United Financial, Inc.
  8,586   98,310
PNC Financial Services Group, Inc. (The)
  8,632   984,393
Principal Financial Group, Inc.
  19,037   735,209
Progressive Corp. (The)
  33,310   2,587,521
Prudential Financial, Inc.
  44,094   2,687,970
Raymond James Financial, Inc.
  5,740   397,667
Regions Financial Corp.
  24,980   282,524
S&P Global, Inc.
  1,557   506,056
State Street Corp.
  10,250   624,840
SVB Financial Group(b)
  873   187,477
Synchrony Financial
  27,697   564,188
T. Rowe Price Group, Inc.
  2,896   350,126
Travelers Cos., Inc. (The)
  15,281   1,634,761
Truist Financial Corp.
  28,080   1,032,782
U.S. Bancorp
  26,746   951,088
Unum Group
  25,519   386,613
W.R. Berkley Corp.
  7,346   425,701
Wells Fargo & Co.
  128,111   3,391,098
Willis Towers Watson PLC
  2,839   576,033
Zions Bancorporation N.A.
  4,104   135,042
        82,373,495
Health Care-19.72%
Abbott Laboratories
  23,981   2,276,277
AbbVie, Inc.
  24,736   2,292,285
ABIOMED, Inc.(b)
  296   66,274
Agilent Technologies, Inc.
  4,031   355,292
Alexion Pharmaceuticals, Inc.(b)
  2,759   330,804
Align Technology, Inc.(b)
  565   138,775
AmerisourceBergen Corp.
  139,120   13,263,701
Amgen, Inc.
  6,536   1,501,319
Anthem, Inc.
  23,210   6,826,293
Baxter International, Inc.
  8,622   776,066
Becton, Dickinson and Co.
  4,293   1,060,071
Biogen, Inc.(b)
  2,830   869,065
Boston Scientific Corp.(b)
  15,018   570,534
Bristol-Myers Squibb Co.
  25,148   1,501,839
Cardinal Health, Inc.
  180,944   9,895,827
Centene Corp.(b)
  82,625   5,473,906
Cerner Corp.
  5,059   368,801
Cigna Corp.
  44,924   8,864,404
Cooper Cos., Inc. (The)
  530   167,999
CVS Health Corp.
  218,217   14,308,489
Danaher Corp.
  9,128   1,520,816
DaVita, Inc.(b)
  10,128   819,963
DENTSPLY SIRONA, Inc.
  4,612   214,550
Invesco S&P 500 Revenue ETF (RWL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Health Care-(continued)
Edwards Lifesciences Corp.(b)
  1,170   $262,922
Eli Lilly and Co.
  12,333   1,886,332
Gilead Sciences, Inc.
  22,431   1,745,805
HCA Healthcare, Inc.
  23,124   2,471,956
Henry Schein, Inc.(b)
  10,172   617,644
Hologic, Inc.(b)
  4,104   217,512
Humana, Inc.
  11,676   4,794,749
IDEXX Laboratories, Inc.(b)
  615   189,961
Illumina, Inc.(b)
  708   257,039
Incyte Corp.(b)
  1,520   154,903
Intuitive Surgical, Inc.(b)
  505   292,915
IQVIA Holdings, Inc.(b)
  4,913   734,592
Johnson & Johnson
  37,948   5,644,765
Laboratory Corp. of America Holdings(b)
  4,589   804,544
McKesson Corp.
  103,777   16,466,297
Medtronic PLC
  18,004   1,774,834
Merck & Co., Inc.
  33,851   2,732,453
Mettler-Toledo International, Inc.(b)
  245   194,775
Mylan N.V.(b)
  38,770   661,804
PerkinElmer, Inc.
  1,951   196,017
Perrigo Co. PLC
  5,690   311,641
Pfizer, Inc.
  90,874   3,470,478
Quest Diagnostics, Inc.
  4,712   557,335
Regeneron Pharmaceuticals, Inc.(b)
  1,350   827,294
ResMed, Inc.
  1,151   185,104
STERIS PLC
  1,269   210,515
Stryker Corp.
  4,670   914,059
Teleflex, Inc.
  439   159,296
Thermo Fisher Scientific, Inc.
  5,223   1,823,819
UnitedHealth Group, Inc.
  55,174   16,819,794
Universal Health Services, Inc., Class B
  5,066   534,210
Varian Medical Systems, Inc.(b)
  1,501   182,206
Vertex Pharmaceuticals, Inc.(b)
  1,057   304,374
Waters Corp.(b)
  693   138,496
Zimmer Biomet Holdings, Inc.
  3,509   443,327
Zoetis, Inc.
  3,244   452,181
        142,899,298
Industrials-9.51%
3M Co.
  12,533   1,960,663
A.O. Smith Corp.
  4,285   203,538
Alaska Air Group, Inc.
  8,349   285,452
Allegion PLC
  1,524   151,943
American Airlines Group, Inc.(c)
  109,236   1,146,978
AMETEK, Inc.
  3,386   310,530
Boeing Co. (The)
  16,702   2,435,987
C.H. Robinson Worldwide, Inc.
  13,327   1,081,220
Carrier Global Corp.(b)
  33,256   680,750
Caterpillar, Inc.
  24,828   2,982,588
Cintas Corp.
  1,754   434,922
Copart, Inc.(b)
  1,557   139,180
CSX Corp.
  10,897   780,007
Cummins, Inc.
  8,632   1,463,987
Deere & Co.
  15,031   2,286,516
Delta Air Lines, Inc.
  53,905   1,358,945
Dover Corp.
  4,104   399,114
Eaton Corp. PLC
  15,059   1,278,509
Emerson Electric Co.
  15,732   959,967
Equifax, Inc.
  1,595   244,928
Expeditors International of Washington, Inc.
  7,176   548,031
Fastenal Co.
  9,296   383,553
FedEx Corp.
  27,601   3,603,587
Flowserve Corp.
  5,224   136,346
  Shares   Value
Industrials-(continued)
Fortive Corp.
  6,108   $372,466
Fortune Brands Home & Security, Inc.
  5,740   349,910
General Dynamics Corp.
  14,350   2,107,010
General Electric Co.
  656,168   4,311,024
Honeywell International, Inc.
  13,772   2,008,646
Howmet Aerospace, Inc.
  29,639   387,678
Huntington Ingalls Industries, Inc.
  2,250   449,753
IDEX Corp.
  991   157,936
IHS Markit Ltd.
  3,821   265,407
Illinois Tool Works, Inc.
  5,236   903,001
J.B. Hunt Transport Services, Inc.
  5,234   626,353
Jacobs Engineering Group, Inc.
  9,198   772,816
Johnson Controls International PLC
  38,633   1,213,463
Kansas City Southern
  1,246   187,548
L3Harris Technologies, Inc.
  3,163   630,860
Lockheed Martin Corp.
  9,912   3,850,217
Masco Corp.
  11,332   528,638
Nielsen Holdings PLC
  21,086   292,885
Norfolk Southern Corp.
  3,938   702,106
Northrop Grumman Corp.
  6,386   2,140,587
Old Dominion Freight Line, Inc.
  2,157   369,041
Otis Worldwide Corp.
  16,622   875,148
PACCAR, Inc.
  20,863   1,540,941
Parker-Hannifin Corp.
  4,462   803,026
Pentair PLC
  4,166   163,057
Quanta Services, Inc.
  19,210   709,425
Raytheon Technologies Corp.
  33,191   2,141,483
Republic Services, Inc.
  7,500   640,950
Robert Half International, Inc.
  6,368   323,112
Rockwell Automation, Inc.
  2,123   458,908
Rollins, Inc.
  3,841   160,554
Roper Technologies, Inc.
  991   390,256
Snap-on, Inc.
  1,557   201,927
Southwest Airlines Co.
  26,965   865,577
Stanley Black & Decker, Inc.
  5,694   714,312
Textron, Inc.
  19,989   619,059
Trane Technologies PLC
  7,964   718,432
TransDigm Group, Inc.
  708   300,773
Union Pacific Corp.
  8,349   1,418,161
United Airlines Holdings, Inc.(b)
  32,400   908,496
United Parcel Service, Inc., Class B
  40,519   4,040,149
United Rentals, Inc.(b)
  3,684   511,671
Verisk Analytics, Inc.
  1,106   190,984
W.W. Grainger, Inc.
  2,234   691,691
Wabtec Corp.
  6,042   368,985
Waste Management, Inc.
  9,219   984,128
Xylem, Inc.
  4,391   291,299
        68,917,090
Information Technology-11.58%
Accenture PLC, Class A
  13,799   2,782,154
Adobe, Inc.(b)
  2,223   859,412
Advanced Micro Devices, Inc.(b)
  9,515   511,907
Akamai Technologies, Inc.(b)
  2,161   228,634
Alliance Data Systems Corp.
  3,651   169,151
Amphenol Corp., Class A
  5,039   486,566
Analog Devices, Inc.
  3,261   368,330
ANSYS, Inc.(b)
  391   110,653
Apple, Inc.
  62,090   19,740,895
Applied Materials, Inc.
  15,915   894,105
Arista Networks, Inc.(b)
  824   192,371
Autodesk, Inc.(b)
  1,126   236,888
Automatic Data Processing, Inc.
  5,713   836,897
Invesco S&P 500 Revenue ETF (RWL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
Broadcom, Inc.
  4,623   $1,346,541
Broadridge Financial Solutions, Inc.
  2,319   280,831
Cadence Design Systems, Inc.(b)
  2,200   200,838
CDW Corp.
  8,332   924,102
Cisco Systems, Inc.
  75,402   3,605,724
Citrix Systems, Inc.
  1,790   265,135
Cognizant Technology Solutions Corp., Class A
  17,581   931,793
Corning, Inc.
  26,561   605,325
DXC Technology Co.
  35,067   498,302
F5 Networks, Inc.(b)
  1,030   149,268
Fidelity National Information Services, Inc.
  4,334   601,689
Fiserv, Inc.(b)
  4,304   459,538
FleetCor Technologies, Inc.(b)
  552   134,572
FLIR Systems, Inc.
  2,262   104,504
Fortinet, Inc.(b)
  1,274   177,341
Gartner, Inc.(b)
  1,709   207,985
Global Payments, Inc.
  1,378   247,337
Hewlett Packard Enterprise Co.
  119,754   1,162,811
HP, Inc.
  188,680   2,856,615
Intel Corp.
  80,305   5,053,594
International Business Machines Corp.
  37,892   4,732,711
Intuit, Inc.
  1,749   507,770
IPG Photonics Corp.(b)
  611   94,949
Jack Henry & Associates, Inc.
  708   128,049
Juniper Networks, Inc.
  11,939   289,640
Keysight Technologies, Inc.(b)
  2,613   282,544
KLA Corp.
  1,840   323,766
Lam Research Corp.
  2,173   594,685
Leidos Holdings, Inc.
  7,654   805,890
Mastercard, Inc., Class A
  3,668   1,103,665
Maxim Integrated Products, Inc.
  2,406   138,778
Microchip Technology, Inc.
  3,430   329,349
Micron Technology, Inc.(b)
  30,259   1,449,709
Microsoft Corp.
  55,125   10,101,656
Motorola Solutions, Inc.
  3,161   427,778
NetApp, Inc.
  5,934   264,300
NortonLifeLock, Inc.
  10,641   242,402
NVIDIA Corp.
  2,936   1,042,339
Oracle Corp.
  47,938   2,577,626
Paychex, Inc.
  2,972   214,816
PayPal Holdings, Inc.(b)
  10,537   1,633,340
Qorvo, Inc.(b)
  1,800   188,532
QUALCOMM, Inc.
  18,312   1,481,075
salesforce.com, inc.(b)
  6,561   1,146,797
Seagate Technology PLC
  11,067   586,994
ServiceNow, Inc.(b)
  751   291,335
Skyworks Solutions, Inc.
  1,966   233,050
Synopsys, Inc.(b)
  1,557   281,677
TE Connectivity Ltd.
  9,316   756,925
Texas Instruments, Inc.
  7,575   899,455
VeriSign, Inc.(b)
  425   93,079
Visa, Inc., Class A
  8,226   1,606,044
Western Digital Corp.
  18,697   829,586
Western Union Co. (The)
  12,871   257,677
Xerox Holdings Corp.
  16,301   258,860
Xilinx, Inc.
  2,237   205,692
Zebra Technologies Corp., Class A(b)
  1,103   288,236
        83,922,584
Materials-3.01%
Air Products and Chemicals, Inc.
  2,511   606,783
Albemarle Corp.(c)
  3,451   264,071
Amcor PLC
  77,493   791,204
  Shares   Value
Materials-(continued)
Avery Dennison Corp.
  3,538   $391,550
Ball Corp.
  11,869   845,785
Celanese Corp.
  3,438   309,111
CF Industries Holdings, Inc.
  6,733   197,748
Corteva, Inc.
  49,030   1,339,009
Dow, Inc.
  58,471   2,256,981
DuPont de Nemours, Inc.
  21,931   1,112,560
Eastman Chemical Co.
  7,783   529,867
Ecolab, Inc.
  5,236   1,113,069
FMC Corp.
  3,026   297,789
Freeport-McMoRan, Inc.
  72,231   655,135
International Flavors & Fragrances, Inc.(c)
  2,449   326,182
International Paper Co.
  32,104   1,093,141
Linde PLC (United Kingdom)
  8,563   1,732,637
LyondellBasell Industries N.V., Class A
  25,331   1,615,105
Martin Marietta Materials, Inc.
  1,091   209,570
Mosaic Co. (The)
  32,690   395,222
Newmont Corp.
  13,894   812,382
Nucor Corp.
  28,036   1,184,801
Packaging Corp. of America
  4,104   416,187
PPG Industries, Inc.
  7,417   754,086
Sealed Air Corp.
  8,131   261,005
Sherwin-Williams Co. (The)
  2,044   1,213,829
Vulcan Materials Co.
  2,186   236,788
Westrock Co.
  29,136   817,556
        21,779,153
Real Estate-0.86%
Alexandria Real Estate Equities, Inc.
  625   96,075
American Tower Corp.
  2,406   621,157
Apartment Investment & Management Co., Class A
  1,174   43,285
AvalonBay Communities, Inc.
  708   110,455
Boston Properties, Inc.
  1,400   120,372
CBRE Group, Inc., Class A(b)
  25,805   1,134,904
Crown Castle International Corp.
  2,874   494,788
Digital Realty Trust, Inc.
  1,840   264,150
Duke Realty Corp.
  1,920   66,202
Equinix, Inc.
  658   459,040
Equity Residential
  2,123   128,569
Essex Property Trust, Inc.
  323   78,415
Extra Space Storage, Inc.
  819   79,238
Federal Realty Investment Trust
  455   36,359
Healthpeak Properties, Inc.
  3,828   94,322
Host Hotels & Resorts, Inc.
  19,953   238,239
Iron Mountain, Inc.
  8,749   225,374
Kimco Realty Corp.
  3,679   40,874
Mid-America Apartment Communities, Inc.
  802   93,321
Prologis, Inc.
  2,411   220,606
Public Storage
  965   195,644
Realty Income Corp.
  1,283   70,963
Regency Centers Corp.
  1,179   50,449
SBA Communications Corp., Class A
  545   171,201
Simon Property Group, Inc.
  2,548   147,020
SL Green Realty Corp.
  1,082   45,574
UDR, Inc.
  1,670   61,757
Ventas, Inc.
  4,445   155,353
Vornado Realty Trust
  5,243   189,849
Welltower, Inc.
  4,219   213,777
Weyerhaeuser Co.
  14,576   294,289
        6,241,621
Invesco S&P 500 Revenue ETF (RWL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Utilities-2.60%
AES Corp. (The)
  35,761   $446,655
Alliant Energy Corp.
  4,471   220,689
Ameren Corp.
  5,236   391,286
American Electric Power Co., Inc.
  11,139   949,600
American Water Works Co., Inc.
  1,936   245,872
Atmos Energy Corp.
  1,782   183,154
CenterPoint Energy, Inc.
  29,885   531,355
CMS Energy Corp.
  7,345   430,270
Consolidated Edison, Inc.
  9,293   697,533
Dominion Energy, Inc.
  12,671   1,077,162
DTE Energy Co.
  6,932   745,675
Duke Energy Corp.
  18,470   1,581,586
Edison International
  11,116   645,951
Entergy Corp.
  5,997   610,615
Evergy, Inc.
  5,423   334,545
Eversource Energy
  6,822   571,001
Exelon Corp.
  52,312   2,004,073
FirstEnergy Corp.
  15,053   636,140
NextEra Energy, Inc.
  4,839   1,236,655
NiSource, Inc.
  12,791   304,809
NRG Energy, Inc.
  15,351   553,404
Pinnacle West Capital Corp.
  2,689   209,473
PPL Corp.
  14,179   396,161
  Shares   Value
Utilities-(continued)
Public Service Enterprise Group, Inc.
  10,817   $552,100
Sempra Energy
  4,853   612,982
Southern Co. (The)
  23,779   1,357,067
WEC Energy Group, Inc.
  5,574   511,303
Xcel Energy, Inc.
  12,136   789,204
        18,826,320
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.88%

(Cost $721,338,845)
  723,602,471
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.33%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $2,404,847)
  2,404,847   2,404,847
TOTAL INVESTMENTS IN SECURITIES-100.21%

(Cost $723,743,692)
  726,007,318
OTHER ASSETS LESS LIABILITIES-(0.21)%
  (1,522,751)
NET ASSETS-100.00%
  $724,484,567
 
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 May 31, 2020.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2020.
    
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Invesco Ltd. $293,747   $125,405   $(60,822)   $(166,561)   $(26,551)   $165,218   $18,365
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class* -   18,558,783   (18,558,783)   -   -   -   5,613
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 2,475,627   51,778,205   (54,253,832)   -   -   -   30,326
Invesco Liquid Assets Portfolio, Institutional Class* 825,209   15,424,722   (16,246,331)   -   (3,600)   -   3,609
Invesco Private Government Fund -   8,971,895   (6,567,048)   -   -   2,404,847   35
Total $3,594,583   $94,859,010   $(95,686,816)   $(166,561)   $(30,151)   $2,570,065   $57,948
    
* At May 31, 2020, this security was no longer held.
    
(e) The rate shown is the 7-day SEC standardized yield as of May 31, 2020.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
Schedule of Investments(a)
Invesco S&P MidCap 400 Revenue ETF (RWK)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-1.47%
AMC Networks, Inc., Class A(b)
  15,016   $424,502
Cable One, Inc.
  132   249,069
Cinemark Holdings, Inc.
  17,021   255,825
John Wiley & Sons, Inc., Class A
  6,604   265,481
New York Times Co. (The), Class A
  10,217   400,813
TEGNA, Inc.
  24,194   283,554
Telephone & Data Systems, Inc.
  38,876   796,569
TripAdvisor, Inc.
  9,556   184,240
World Wrestling Entertainment, Inc., Class A(c)
  2,584   119,562
Yelp, Inc.(b)
  5,239   113,896
        3,093,511
Consumer Discretionary-19.77%
Aaron’s, Inc.
  12,273   452,996
Adient PLC(b)
  130,798   2,224,874
Adtalem Global Education, Inc.(b)
  6,193   207,218
American Eagle Outfitters, Inc.
  52,807   483,712
AutoNation, Inc.(b)
  76,702   3,028,195
Bed Bath & Beyond, Inc.(c)
  137,819   1,001,944
Boyd Gaming Corp.
  20,362   435,340
Brinker International, Inc.
  14,244   375,329
Brunswick Corp.
  14,150   778,392
Caesars Entertainment Corp.(b)(c)
  119,645   1,362,757
Carter’s, Inc.
  6,270   538,656
Cheesecake Factory, Inc. (The)
  10,594   227,559
Choice Hotels International, Inc.
  1,927   155,759
Churchill Downs, Inc.
  1,672   221,824
Cracker Barrel Old Country Store, Inc.
  3,568   382,240
Dana, Inc.
  85,138   1,076,144
Deckers Outdoor Corp.(b)
  2,356   430,041
Delphi Technologies PLC(b)
  60,242   775,917
Dick’s Sporting Goods, Inc.
  32,847   1,184,463
Dillard’s, Inc., Class A(c)
  16,847   505,578
Dunkin’ Brands Group, Inc.
  3,227   206,108
Eldorado Resorts, Inc.(b)(c)
  8,447   299,531
Etsy, Inc.(b)
  3,156   255,573
Five Below, Inc.(b)
  2,429   254,195
Foot Locker, Inc.
  39,493   1,093,956
Gentex Corp.
  11,970   316,487
Goodyear Tire & Rubber Co. (The)
  167,679   1,276,037
Graham Holdings Co., Class B
  828   296,614
Grand Canyon Education, Inc.(b)
  1,482   144,628
Grubhub, Inc.(b)
  5,130   291,076
Helen of Troy Ltd.(b)
  1,715   311,993
Jack in the Box, Inc.
  2,185   146,439
KB Home
  22,494   744,102
Lear Corp.
  27,840   2,952,432
Marriott Vacations Worldwide Corp.(b)
  6,111   548,951
Mattel, Inc.(b)
  61,988   570,909
Murphy USA, Inc.(b)
  21,824   2,533,766
Ollie’s Bargain Outlet Holdings, Inc.(b)
  3,445   315,045
Papa John’s International, Inc.
  4,820   375,430
Penn National Gaming, Inc.(b)
  36,877   1,209,934
Polaris, Inc.
  12,174   1,063,277
Pool Corp.
  2,797   752,449
Sally Beauty Holdings, Inc.(b)
  39,592   516,280
Scientific Games Corp.(b)
  21,860   343,858
Service Corp. International
  12,802   504,783
Six Flags Entertainment Corp.
  5,865   134,778
Skechers U.S.A., Inc., Class A(b)
  21,696   679,519
Tempur Sealy International, Inc.(b)
  6,225   406,057
Texas Roadhouse, Inc.
  8,565   444,095
  Shares   Value
Consumer Discretionary-(continued)
Thor Industries, Inc.
  20,679   $1,782,530
Toll Brothers, Inc.
  33,483   1,081,836
TRI Pointe Group, Inc.(b)
  35,954   514,861
Urban Outfitters, Inc.(b)(c)
  26,795   453,907
Visteon Corp.(b)
  5,993   431,496
Wendy’s Co. (The)(c)
  13,669   290,603
Williams-Sonoma, Inc.
  15,348   1,277,107
WW International, Inc.(b)
  6,603   157,812
Wyndham Destinations, Inc.
  14,710   467,778
Wyndham Hotels & Resorts, Inc.
  6,254   287,246
        41,582,416
Consumer Staples-6.87%
BJ’s Wholesale Club Holdings, Inc.(b)
  100,835   3,630,060
Boston Beer Co., Inc. (The), Class A(b)
  588   332,061
Casey’s General Stores, Inc.
  11,046   1,764,378
Edgewell Personal Care Co.(b)
  12,083   367,565
Energizer Holdings, Inc.(c)
  9,171   402,423
Flowers Foods, Inc.
  34,465   813,029
Hain Celestial Group, Inc. (The)(b)
  16,309   513,407
Ingredion, Inc.
  11,798   993,746
Lancaster Colony Corp.
  1,518   232,952
Nu Skin Enterprises, Inc., Class A
  11,864   441,104
Pilgrim’s Pride Corp.(b)
  62,072   1,283,028
Post Holdings, Inc.(b)
  9,638   839,084
Sanderson Farms, Inc.
  3,674   485,042
Sprouts Farmers Market, Inc.(b)
  50,899   1,279,092
Tootsie Roll Industries, Inc.(c)
  2,726   97,100
TreeHouse Foods, Inc.(b)
  18,687   984,992
        14,459,063
Energy-3.84%
Antero Midstream Corp.(c)
  23,592   112,770
Apergy Corp.(b)
  7,354   66,701
CNX Resources Corp.(b)
  32,169   327,802
EQT Corp.
  84,858   1,132,006
Equitrans Midstream Corp.(c)
  25,990   210,259
Matador Resources Co.(b)
  10,647   83,472
Murphy Oil Corp.
  18,825   224,959
PBF Energy, Inc., Class A
  148,625   1,578,397
Transocean Ltd.(b)(c)
  87,296   116,104
World Fuel Services Corp.
  158,611   4,041,408
WPX Energy, Inc.(b)
  32,071   181,843
        8,075,721
Financials-10.27%
Affiliated Managers Group, Inc.
  4,714   314,047
Alleghany Corp.
  1,868   958,471
American Financial Group, Inc.
  12,218   736,012
Associated Banc-Corp.
  12,667   177,465
BancorpSouth Bank
  5,634   125,244
Bank of Hawaii Corp.
  1,435   92,314
Bank OZK
  7,264   163,367
Brighthouse Financial, Inc.(b)
  34,830   1,034,799
Brown & Brown, Inc.
  10,994   441,959
Cathay General Bancorp
  3,822   103,920
CNO Financial Group, Inc.
  36,467   523,301
Commerce Bancshares, Inc.
  3,868   246,508
Cullen/Frost Bankers, Inc.
  2,747   208,690
East West Bancorp, Inc.
  7,609   265,935
Eaton Vance Corp.
  6,539   235,731
Evercore, Inc., Class A
  5,039   277,699
F.N.B. Corp.
  21,876   162,101
Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
FactSet Research Systems, Inc.
  943   $289,982
Federated Hermes, Inc., Class B
  6,767   149,821
First American Financial Corp.
  17,386   877,819
First Financial Bankshares, Inc.
  2,112   64,712
First Horizon National Corp.
  23,911   223,568
FirstCash, Inc.
  4,108   286,615
Fulton Financial Corp.
  10,484   117,526
Genworth Financial, Inc., Class A(b)
  341,055   1,040,218
Hancock Whitney Corp.
  5,865   126,801
Hanover Insurance Group, Inc. (The)
  6,193   621,468
Home BancShares, Inc.
  7,509   108,655
Interactive Brokers Group, Inc., Class A
  10,483   443,955
International Bancshares Corp.
  2,666   82,060
Janus Henderson Group PLC (United Kingdom)
  15,315   330,191
Jefferies Financial Group, Inc.
  46,336   678,822
Kemper Corp.
  11,538   731,509
Legg Mason, Inc.
  14,478   721,439
LendingTree, Inc.(b)(c)
  646   167,973
Mercury General Corp.
  13,784   554,530
Navient Corp.
  71,711   533,530
New York Community Bancorp, Inc.
  28,423   285,651
Old Republic International Corp.
  51,711   806,175
PacWest Bancorp
  6,438   111,442
Pinnacle Financial Partners, Inc.
  3,398   135,410
Primerica, Inc.
  2,666   302,964
Prosperity Bancshares, Inc.
  2,173   142,092
Reinsurance Group of America, Inc.
  15,209   1,380,217
RenaissanceRe Holdings Ltd. (Bermuda)
  3,404   571,395
RLI Corp.
  1,798   141,970
SEI Investments Co.
  4,411   239,164
Selective Insurance Group, Inc.
  7,836   410,998
Signature Bank
  2,574   264,890
SLM Corp.
  46,059   349,127
Sterling Bancorp
  11,291   138,879
Stifel Financial Corp.
  10,096   481,680
Synovus Financial Corp.
  10,206   195,853
TCF Financial Corp.
  6,369   184,192
Texas Capital Bancshares, Inc.(b)
  4,223   113,008
Trustmark Corp.
  3,322   79,030
UMB Financial Corp.
  3,249   166,609
Umpqua Holdings Corp.
  13,939   158,765
United Bankshares, Inc.
  4,180   121,554
Valley National Bancorp
  22,025   175,760
Washington Federal, Inc.
  3,559   92,036
Webster Financial Corp.
  4,862   137,595
Wintrust Financial Corp.
  4,480   189,773
        21,594,986
Health Care-7.92%
Acadia Healthcare Co., Inc.(b)
  17,513   501,047
Allscripts Healthcare Solutions, Inc.(b)
  32,762   207,056
Amedisys, Inc.(b)
  2,076   398,696
Arrowhead Pharmaceuticals, Inc.(b)
  451   14,540
Avanos Medical, Inc.(b)
  3,716   107,987
Bio-Rad Laboratories, Inc., Class A(b)
  1,190   584,671
Bio-Techne Corp.
  615   162,852
Cantel Medical Corp.
  2,199   92,534
Catalent, Inc.(b)
  9,164   712,318
Charles River Laboratories International, Inc.(b)
  3,160   567,726
Chemed Corp.
  763   365,103
Encompass Health Corp.
  11,607   850,213
Exelixis, Inc.(b)
  9,519   235,214
Globus Medical, Inc., Class A(b)
  2,337   127,717
  Shares   Value
Health Care-(continued)
Haemonetics Corp.(b)
  1,518   $166,494
HealthEquity, Inc.(b)
  1,021   63,271
Hill-Rom Holdings, Inc.
  4,854   493,506
ICU Medical, Inc.(b)
  1,355   270,485
Integra LifeSciences Holdings Corp.(b)
  4,333   225,793
Ligand Pharmaceuticals, Inc.(b)(c)
  260   26,408
LivaNova PLC(b)
  2,550   136,399
Masimo Corp.(b)
  1,084   260,366
MEDNAX, Inc.(b)
  23,001   357,205
Molina Healthcare, Inc.(b)
  24,086   4,475,660
Nektar Therapeutics(b)(c)
  1,016   22,047
NuVasive, Inc.(b)
  2,680   162,408
Patterson Cos., Inc.
  48,199   949,038
Penumbra, Inc.(b)
  587   101,211
PRA Health Sciences, Inc.(b)
  5,366   555,381
Prestige Consumer Healthcare, Inc.(b)
  4,365   184,203
Repligen Corp.(b)
  512   67,057
Syneos Health, Inc.(b)
  14,843   905,275
Tenet Healthcare Corp.(b)
  89,576   1,949,174
United Therapeutics Corp.(b)
  3,126   368,712
        16,667,767
Industrials-19.75%
Acuity Brands, Inc.
  5,153   443,931
AECOM(b)
  84,956   3,293,744
AGCO Corp.
  21,494   1,187,114
ASGN, Inc.(b)
  10,015   616,824
Avis Budget Group, Inc.(b)(c)
  52,843   1,137,710
Axon Enterprise, Inc.(b)
  1,167   88,645
Brink’s Co. (The)
  7,013   281,221
Carlisle Cos., Inc.
  5,405   647,843
Clean Harbors, Inc.(b)
  7,479   444,178
Colfax Corp.(b)
  19,386   543,971
CoreLogic, Inc.
  7,736   383,396
Crane Co.
  7,101   395,668
Curtiss-Wright Corp.
  3,076   308,523
Deluxe Corp.
  7,072   164,990
Donaldson Co., Inc.
  9,126   433,029
Dycom Industries, Inc.(b)
  12,999   547,258
EMCOR Group, Inc.
  18,590   1,181,394
EnerSys
  7,534   476,902
Fluor Corp.
  179,089   2,079,223
FTI Consulting, Inc.(b)
  3,684   443,775
GATX Corp.
  2,984   187,216
Graco, Inc.
  5,700   274,797
Healthcare Services Group, Inc.
  13,835   330,933
Herman Miller, Inc.
  10,025   230,776
HNI Corp.
  10,031   255,490
Hubbell, Inc.
  5,717   699,875
Insperity, Inc.
  9,186   476,202
ITT, Inc.
  7,145   412,266
JetBlue Airways Corp.(b)
  79,008   795,611
KAR Auction Services, Inc.
  29,185   418,805
Kennametal, Inc.
  10,957   303,947
Kirby Corp.(b)
  6,569   336,858
Knight-Swift Transportation Holdings, Inc.
  24,321   1,011,997
Landstar System, Inc.
  6,945   807,426
Lennox International, Inc.
  2,688   574,802
Lincoln Electric Holdings, Inc.
  5,862   481,681
ManpowerGroup, Inc.
  39,363   2,721,558
MasTec, Inc.(b)
  22,025   862,279
Mercury Systems, Inc.(b)
  1,728   154,397
MSA Safety, Inc.
  1,938   230,506
Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
MSC Industrial Direct Co., Inc., Class A
  8,287   $574,621
Nordson Corp.
  2,485   468,050
NOW, Inc.(b)
  50,764   378,192
nVent Electric PLC
  15,948   292,327
Oshkosh Corp.
  16,765   1,204,062
Owens Corning
  20,057   1,052,992
Regal Beloit Corp.
  7,404   588,914
Resideo Technologies, Inc.(b)
  75,613   533,828
Ryder System, Inc.
  31,189   1,068,535
Stericycle, Inc.(b)
  9,572   524,833
Teledyne Technologies, Inc.(b)
  1,617   604,952
Terex Corp.
  28,563   449,010
Tetra Tech, Inc.
  6,616   522,002
Timken Co. (The)
  12,112   515,244
Toro Co. (The)
  6,666   473,753
Trex Co., Inc.(b)
  1,451   174,294
Trinity Industries, Inc.(c)
  23,327   465,840
Valmont Industries, Inc.
  3,498   398,772
Watsco, Inc.
  4,735   842,404
Werner Enterprises, Inc.
  12,320   569,430
Woodward, Inc.
  4,142   284,058
XPO Logistics, Inc.(b)
  36,666   2,889,647
        41,542,521
Information Technology-16.26%
ACI Worldwide, Inc.(b)
  5,749   158,557
Arrow Electronics, Inc.(b)
  63,274   4,370,968
Avnet, Inc.
  81,475   2,219,379
Belden, Inc.
  8,162   277,835
Blackbaud, Inc.
  2,010   117,806
Cabot Microelectronics Corp.
  1,353   195,996
CACI International, Inc., Class A(b)
  3,896   977,039
CDK Global, Inc.
  7,033   276,467
Ceridian HCM Holding, Inc.(b)
  2,278   156,886
Ciena Corp.(b)
  15,327   846,970
Cirrus Logic, Inc.(b)
  2,748   199,175
Cognex Corp.
  2,437   138,275
Coherent, Inc.(b)
  1,615   234,514
CommVault Systems, Inc.(b)
  2,714   109,808
Cree, Inc.(b)
  4,635   244,218
Fair Isaac Corp.(b)
  579   233,134
First Solar, Inc.(b)
  7,940   370,163
II-VI, Inc.(b)(c)
  8,077   383,900
InterDigital, Inc.
  959   52,716
j2 Global, Inc.
  2,496   195,437
Jabil, Inc.
  114,698   3,431,764
KBR, Inc.
  33,294   780,744
Littelfuse, Inc.
  1,480   240,485
LiveRamp Holdings, Inc.(b)
  1,208   60,919
LogMeIn, Inc.
  2,684   227,872
Lumentum Holdings, Inc.(b)
  3,978   291,667
Manhattan Associates, Inc.(b)
  1,413   124,909
MAXIMUS, Inc.
  7,190   517,824
MKS Instruments, Inc.
  3,023   319,320
Monolithic Power Systems, Inc.
  616   129,206
National Instruments Corp.
  5,583   216,174
NCR Corp.(b)
  36,059   650,865
NetScout Systems, Inc.(b)
  6,604   181,412
Perspecta, Inc.
  30,792   682,659
PTC, Inc.(b)
  2,994   228,682
Sabre Corp.
  31,232   217,687
Science Applications International Corp.
  11,910   1,048,556
Semtech Corp.(b)
  2,236   118,910
  Shares   Value
Information Technology-(continued)
Silicon Laboratories, Inc.(b)
  1,312   $122,882
SolarEdge Technologies, Inc.(b)
  2,609   370,217
Synaptics, Inc.(b)
  3,880   247,234
SYNNEX Corp.
  32,396   3,455,033
Tech Data Corp.(b)
  46,809   6,377,258
Teradata Corp.(b)
  13,385   286,573
Teradyne, Inc.
  5,991   401,517
Trimble, Inc.(b)
  14,559   569,548
Tyler Technologies, Inc.(b)
  647   242,826
Universal Display Corp.
  347   50,870
ViaSat, Inc.(b)
  5,548   233,016
Vishay Intertechnology, Inc.
  25,411   413,183
WEX, Inc.(b)
  1,448   214,420
        34,213,475
Materials-8.37%
Allegheny Technologies, Inc.(b)
  33,030   286,700
AptarGroup, Inc.
  4,588   511,057
Ashland Global Holdings, Inc.
  6,091   409,072
Cabot Corp.
  12,943   462,324
Carpenter Technology Corp.
  7,943   185,628
Chemours Co. (The)
  59,922   785,577
Commercial Metals Co.
  47,462   814,448
Compass Minerals International, Inc.
  4,543   218,882
Domtar Corp.
  25,359   517,324
Eagle Materials, Inc.
  2,757   184,057
Greif, Inc., Class A
  18,030   612,659
Ingevity Corp.(b)
  2,557   134,677
Louisiana-Pacific Corp.
  15,355   362,532
Minerals Technologies, Inc.
  5,659   279,045
NewMarket Corp.
  845   368,530
O-I Glass, Inc.
  108,432   830,589
Olin Corp.
  66,831   803,977
PolyOne Corp.
  19,731   488,934
Reliance Steel & Aluminum Co.
  17,140   1,662,580
Royal Gold, Inc.
  686   91,375
RPM International, Inc.
  13,401   1,002,127
Scotts Miracle-Gro Co. (The)
  5,619   801,101
Sensient Technologies Corp.
  3,700   185,444
Silgan Holdings, Inc.
  26,867   898,432
Sonoco Products Co.
  15,954   826,577
Steel Dynamics, Inc.
  57,573   1,529,139
United States Steel Corp.(c)
  182,440   1,466,818
Valvoline, Inc.
  20,672   379,331
Worthington Industries, Inc.
  16,749   501,130
        17,600,066
Real Estate-2.82%
American Campus Communities, Inc.
  3,601   116,312
Brixmor Property Group, Inc.
  9,653   107,727
Camden Property Trust
  1,736   158,966
CoreCivic, Inc.
  21,942   263,962
CoreSite Realty Corp.
  905   112,962
Corporate Office Properties Trust
  3,979   99,356
Cousins Properties, Inc.
  2,644   82,281
CyrusOne, Inc.
  2,753   204,658
Douglas Emmett, Inc.
  3,897   114,416
EastGroup Properties, Inc.
  442   51,383
EPR Properties
  1,816   57,331
First Industrial Realty Trust, Inc.
  1,845   69,889
GEO Group, Inc. (The)
  29,784   356,812
Healthcare Realty Trust, Inc.
  2,545   78,131
Highwoods Properties, Inc.
  2,829   108,266
Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Real Estate-(continued)
JBG SMITH Properties
  2,944   $87,525
Jones Lang LaSalle, Inc.
  18,670   1,911,808
Kilroy Realty Corp.
  1,757   100,360
Lamar Advertising Co., Class A
  3,568   236,558
Life Storage, Inc.
  957   93,288
Macerich Co. (The)(c)
  6,317   43,019
Mack-Cali Realty Corp.
  4,633   70,468
Medical Properties Trust, Inc.
  6,962   125,873
National Retail Properties, Inc.
  2,251   70,659
Omega Healthcare Investors, Inc.
  3,884   120,948
Park Hotels & Resorts, Inc.
  19,518   191,862
Pebblebrook Hotel Trust
  9,955   135,985
PotlatchDeltic Corp.
  3,506   119,169
PS Business Parks, Inc.
  451   60,272
Rayonier, Inc.
  3,893   92,459
Sabra Health Care REIT, Inc.
  5,678   76,426
Service Properties Trust
  17,202   116,113
Spirit Realty Capital, Inc.
  1,837   52,226
Taubman Centers, Inc.
  3,858   159,490
Urban Edge Properties
  3,542   34,535
Weingarten Realty Investors
  2,882   51,530
        5,933,025
Utilities-2.58%
ALLETE, Inc.
  3,096   181,828
Black Hills Corp.
  4,061   250,604
Essential Utilities, Inc.
  3,430   150,097
Hawaiian Electric Industries, Inc.
  11,763   464,168
IDACORP, Inc.
  2,301   214,522
MDU Resources Group, Inc.
  32,265   702,087
National Fuel Gas Co.
  6,587   276,456
New Jersey Resources Corp.
  11,047   387,971
NorthWestern Corp.
  3,158   189,859
  Shares   Value
Utilities-(continued)
OGE Energy Corp.
  9,313   $291,683
ONE Gas, Inc.
  3,255   273,322
PNM Resources, Inc.
  5,193   211,978
Southwest Gas Holdings, Inc.
  7,411   562,866
Spire, Inc.
  4,346   316,910
UGI Corp.
  29,941   953,322
        5,427,673
Total Common Stocks & Other Equity Interests

(Cost $239,395,284)
  210,190,224
Money Market Funds-0.02%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $49,834)
  49,834   49,834
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $239,445,118)
  210,240,058
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-3.34%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $7,020,433)
  7,020,433   7,020,433
TOTAL INVESTMENTS IN SECURITIES-103.28%

(Cost $246,465,551)
  217,260,491
OTHER ASSETS LESS LIABILITIES-(3.28)%
  (6,897,141)
NET ASSETS-100.00%
  $210,363,350
 
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 May 31, 2020.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2020.
    
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
May 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $85,398   $6,536,774   $(6,572,338)   $-   $-   $49,834   $1,667
Invesco S&P MidCap 400 Revenue ETF (RWK)—(continued)
May 31, 2020
(Unaudited)
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
May 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* $11,267,314   $66,974,003   $(78,241,317)   $-   $-   $-   $99,138
Invesco Liquid Assets Portfolio, Institutional Class* 3,903,406   15,950,721   (19,854,486)   -   359   -   14,992
Invesco Private Government Fund -   32,590,776   (25,570,343)   -   -   7,020,433   127
Total $15,256,118   $122,052,274   $(130,238,484)   $-   $359   $7,070,267   $115,924
    
* At May 31, 2020, this security was no longer held.
    
(e) The rate shown is the 7-day SEC standardized yield as of May 31, 2020.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
Schedule of Investments(a)
Invesco S&P SmallCap 600 Revenue ETF (RWJ)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.98%
Communication Services-1.99%
ATN International, Inc.
  2,313   $137,392
Cincinnati Bell, Inc.(b)
  62,614   922,304
Cogent Communications Holdings, Inc.
  2,602   199,105
Consolidated Communications Holdings, Inc.(b)
  119,601   724,782
E.W. Scripps Co. (The), Class A
  27,837   241,347
Gannett Co., Inc.
  80,476   105,424
Glu Mobile, Inc.(b)
  20,016   199,760
Iridium Communications, Inc.(b)
  7,077   162,771
Marcus Corp. (The)
  7,520   101,370
QuinStreet, Inc.(b)
  9,230   93,592
Scholastic Corp.
  13,226   388,844
Shenandoah Telecommunications Co.
  5,108   268,732
Spok Holdings, Inc.
  4,242   43,565
TechTarget, Inc.(b)
  1,576   43,324
Vonage Holdings Corp.(b)
  49,294   474,701
        4,107,013
Consumer Discretionary-24.68%
Abercrombie & Fitch Co., Class A
  65,343   759,286
American Axle & Manufacturing Holdings, Inc.(b)
  196,438   1,396,674
American Public Education, Inc.(b)
  3,270   102,776
Asbury Automotive Group, Inc.(b)
  18,544   1,340,360
Barnes & Noble Education, Inc.(b)
  145,103   224,910
Big Lots, Inc.
  60,373   2,339,454
BJ’s Restaurants, Inc.
  9,666   209,946
Bloomin’ Brands, Inc.
  57,414   655,094
Boot Barn Holdings, Inc.(b)
  5,807   124,734
Buckle, Inc. (The)(c)
  10,481   147,572
Caleres, Inc.
  40,320   289,094
Callaway Golf Co.
  22,821   349,618
Cato Corp. (The), Class A
  14,155   137,303
Cavco Industries, Inc.(b)
  1,528   290,610
Century Communities, Inc.(b)
  25,573   755,426
Chico’s FAS, Inc.
  152,017   205,223
Children’s Place, Inc. (The)(c)
  10,620   442,217
Chuy’s Holdings, Inc.(b)
  4,739   75,777
Conn’s, Inc.(b)(c)
  37,788   272,829
Cooper Tire & Rubber Co.
  28,768   740,201
Cooper-Standard Holdings, Inc.(b)
  34,282   359,618
Core-Mark Holding Co., Inc.
  197,646   5,530,135
Crocs, Inc.(b)
  9,985   286,070
Dave & Buster’s Entertainment, Inc.(c)
  10,222   134,828
Designer Brands, Inc., Class A
  69,188   424,122
Dine Brands Global, Inc.
  3,356   152,329
Dorman Products, Inc.(b)
  4,230   295,762
El Pollo Loco Holdings, Inc.(b)(c)
  8,755   121,432
Ethan Allen Interiors, Inc.
  12,594   142,312
Express, Inc.(b)
  119,988   235,176
Fiesta Restaurant Group, Inc.(b)
  22,113   181,990
Fossil Group, Inc.(b)(c)
  92,543   282,256
Fox Factory Holding Corp.(b)
  3,396   244,886
GameStop Corp., Class A(b)(c)
  446,198   1,811,564
Garrett Motion, Inc. (Switzerland)(b)
  96,385   498,310
Genesco, Inc.(b)
  14,990   277,165
Gentherm, Inc.(b)
  6,845   278,591
G-III Apparel Group Ltd.(b)
  30,238   312,359
Group 1 Automotive, Inc.
  34,151   2,149,464
Guess?, Inc.(c)
  41,031   392,667
Haverty Furniture Cos., Inc.
  11,766   203,552
Hibbett Sports, Inc.(b)
  13,558   261,941
Installed Building Products, Inc.(b)
  6,302   405,093
iRobot Corp.(b)
  7,618   561,599
  Shares   Value
Consumer Discretionary-(continued)
Kontoor Brands, Inc.(c)
  20,507   $299,812
La-Z-Boy, Inc.
  17,284   444,544
LCI Industries
  6,944   686,970
LGI Homes, Inc.(b)
  6,878   573,763
Liquidity Services, Inc.(b)
  11,973   68,366
Lithia Motors, Inc., Class A
  23,977   2,891,386
Lumber Liquidators Holdings, Inc.(b)(c)
  31,503   313,140
M.D.C. Holdings, Inc.
  23,364   794,142
M/I Homes, Inc.(b)
  17,075   571,671
MarineMax, Inc.(b)
  22,573   429,564
Meritage Homes Corp.(b)
  16,680   1,159,260
Michaels Cos., Inc. (The)(b)(c)
  246,353   950,923
Monarch Casino & Resort, Inc.(b)
  1,590   63,823
Monro, Inc.
  4,771   262,882
Motorcar Parts of America, Inc.(b)(c)
  7,130   112,797
Movado Group, Inc.
  10,518   110,439
Office Depot, Inc.
  1,341,565   3,313,666
Oxford Industries, Inc.
  4,516   192,472
Perdoceo Education Corp.(b)
  10,803   175,873
PetMed Express, Inc.(c)
  3,618   130,610
Red Robin Gourmet Burgers, Inc.(b)(c)
  14,404   199,639
Regis Corp.(b)
  17,842   187,698
Rent-A-Center, Inc.
  28,998   738,289
Ruth’s Hospitality Group, Inc.
  6,201   50,290
Shake Shack, Inc., Class A(b)(c)
  2,931   162,817
Shoe Carnival, Inc.(c)
  8,671   225,359
Shutterstock, Inc.
  4,652   176,404
Signet Jewelers Ltd.(c)
  93,163   982,870
Sleep Number Corp.(b)
  10,366   323,108
Sonic Automotive, Inc., Class A
  96,859   2,545,454
Stamps.com, Inc.(b)
  2,130   422,059
Standard Motor Products, Inc.
  6,687   284,532
Steven Madden Ltd.
  12,698   298,657
Strategic Education, Inc.
  2,012   341,296
Sturm Ruger & Co., Inc.
  2,792   174,053
Tailored Brands, Inc.(c)
  233,831   301,642
TopBuild Corp.(b)
  7,481   857,996
Tupperware Brands Corp.(c)
  76,039   245,606
Unifi, Inc.(b)
  8,470   116,293
Universal Electronics, Inc.(b)
  4,116   186,208
Vera Bradley, Inc.(b)
  11,734   61,603
Vista Outdoor, Inc.(b)
  75,098   729,202
Wingstop, Inc.
  648   79,024
Winnebago Industries, Inc.
  12,568   683,699
Wolverine World Wide, Inc.
  20,631   432,013
Zumiez, Inc.(b)
  9,469   230,760
        50,984,999
Consumer Staples-15.85%
Andersons, Inc. (The)
  89,399   1,158,611
B&G Foods, Inc.(c)
  30,074   698,318
Calavo Growers, Inc.
  4,149   242,758
Cal-Maine Foods, Inc.
  8,879   395,648
Central Garden & Pet Co.(b)
  12,712   466,403
Central Garden & Pet Co., Class A(b)
  13,461   461,174
Chefs’ Warehouse, Inc. (The)(b)
  13,061   193,303
Coca-Cola Consolidated, Inc.
  5,262   1,280,929
Fresh Del Monte Produce, Inc.
  40,628   1,011,231
Inter Parfums, Inc.
  3,029   140,576
J&J Snack Foods Corp.
  1,954   251,343
John B. Sanfilippo & Son, Inc.
  2,932   254,908
Medifast, Inc.
  2,322   237,633
MGP Ingredients, Inc.(c)
  2,421   90,812
Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Consumer Staples-(continued)
National Beverage Corp.(b)(c)
  5,772   $328,889
PriceSmart, Inc.
  13,651   742,341
Seneca Foods Corp., Class A(b)
  10,208   372,286
SpartanNash Co.
  197,097   4,219,847
United Natural Foods, Inc.(b)(c)
  952,736   18,673,626
Universal Corp.
  11,580   510,215
USANA Health Sciences, Inc.(b)
  4,378   370,904
Vector Group Ltd.
  45,505   520,122
WD-40 Co.
  659   126,429
        32,748,306
Energy-4.66%
Archrock, Inc.
  31,449   199,701
Bonanza Creek Energy, Inc.(b)
  4,670   78,923
Callon Petroleum Co.(b)
  45,696   30,557
CONSOL Energy, Inc.(b)(c)
  32,829   223,565
Denbury Resources, Inc.(b)
  311,447   66,338
DMC Global, Inc.
  2,321   66,265
Dril-Quip, Inc.(b)
  2,703   82,144
Era Group, Inc.(b)
  7,027   35,205
Exterran Corp.(b)
  64,249   412,479
Geospace Technologies Corp.(b)
  1,729   13,625
Green Plains, Inc.
  60,434   516,711
Gulfport Energy Corp.(b)
  148,364   224,030
Helix Energy Solutions Group, Inc.(b)
  24,126   81,063
HighPoint Resources Corp.(b)
  99,035   23,768
Laredo Petroleum, Inc.(b)
  95,228   80,801
Matrix Service Co.(b)
  20,002   220,422
Nabors Industries Ltd.(c)
  7,676   284,473
Newpark Resources, Inc.(b)
  45,670   92,253
Oasis Petroleum, Inc.(b)
  248,724   114,562
Oceaneering International, Inc.(b)
  42,569   273,293
Oil States International, Inc.(b)
  19,307   81,862
Par Pacific Holdings, Inc.(b)
  62,733   582,790
PDC Energy, Inc.(b)
  17,498   213,126
Penn Virginia Corp.(b)
  5,676   49,835
ProPetro Holding Corp.(b)
  62,268   308,227
QEP Resources, Inc.
  108,986   93,030
Range Resources Corp.(c)
  216,098   1,294,427
Renewable Energy Group, Inc.(b)
  36,684   1,043,660
REX American Resources Corp.(b)
  1,505   88,268
Ring Energy, Inc.(b)
  22,857   27,200
RPC, Inc.(c)
  93,761   298,160
SEACOR Holdings, Inc.(b)
  5,978   160,210
SM Energy Co.
  50,433   177,524
Southwestern Energy Co.(b)
  531,011   1,598,343
Talos Energy, Inc.(b)
  10,423   126,639
TETRA Technologies, Inc.(b)
  235,966   77,869
US Silica Holdings, Inc.(c)
  84,704   249,877
Valaris PLC (Saudi Arabia)(b)(c)
  110,911   37,144
        9,628,369
Financials-5.57%
Allegiance Bancshares, Inc.
  2,005   51,348
Ambac Financial Group, Inc.(b)
  6,809   91,377
American Equity Investment Life Holding Co.
  25,578   554,787
Ameris Bancorp
  5,075   122,967
AMERISAFE, Inc.
  1,694   103,978
Apollo Commercial Real Estate Finance, Inc.
  7,896   64,984
ARMOUR Residential REIT, Inc.
  1,858   14,548
Axos Financial, Inc.(b)
  6,999   152,578
Banc of California, Inc.
  8,222   90,031
Banner Corp.
  3,310   124,324
  Shares   Value
Financials-(continued)
Berkshire Hills Bancorp, Inc.
  5,739   $62,096
Blucora, Inc.(b)
  8,316   101,039
Boston Private Financial Holdings, Inc.
  10,768   73,976
Brookline Bancorp, Inc.
  6,814   63,370
Cadence BanCorp
  16,281   131,388
Capstead Mortgage Corp.
  8,492   42,970
Central Pacific Financial Corp.
  2,630   42,369
City Holding Co.
  972   61,139
Columbia Banking System, Inc.
  4,771   116,222
Community Bank System, Inc.
  2,669   158,592
Customers Bancorp, Inc.(b)
  6,570   72,861
CVB Financial Corp.
  7,263   141,701
Dime Community Bancshares, Inc.
  3,658   52,785
Donnelley Financial Solutions, Inc.(b)
  25,312   206,293
Eagle Bancorp, Inc.
  2,943   95,235
eHealth, Inc.(b)
  1,088   141,897
Employers Holdings, Inc.
  5,744   171,688
Encore Capital Group, Inc.(b)(c)
  11,718   372,281
Enova International, Inc.(b)
  16,375   231,706
EZCORP, Inc., Class A(b)
  40,341   208,160
First Bancorp
  21,720   118,808
First Commonwealth Financial Corp.
  8,483   69,391
First Financial Bancorp
  8,938   118,786
First Midwest Bancorp, Inc.
  11,194   146,082
Flagstar Bancorp, Inc.
  10,224   299,563
Franklin Financial Network, Inc.
  1,772   43,698
Glacier Bancorp, Inc.
  4,394   180,989
Granite Point Mortgage Trust, Inc.
  3,896   19,168
Great Western Bancorp, Inc.
  4,707   67,028
Greenhill & Co., Inc.
  5,187   51,714
Hanmi Financial Corp.
  4,211   38,025
HCI Group, Inc.
  1,483   66,513
Heritage Financial Corp.
  2,767   52,573
HomeStreet, Inc.
  3,400   80,988
Hope Bancorp, Inc.
  14,991   142,340
Horace Mann Educators Corp.
  9,524   347,816
Independent Bank Corp.
  1,871   129,978
INTL. FCStone, Inc.(b)
  5,721   291,828
James River Group Holdings Ltd.
  6,353   245,671
Kinsale Capital Group, Inc.
  863   128,863
KKR Real Estate Finance Trust, Inc.(c)
  3,979   64,420
Meta Financial Group, Inc.
  4,886   88,534
National Bank Holdings Corp., Class A
  2,730   71,799
NBT Bancorp, Inc.
  3,776   118,264
New York Mortgage Trust, Inc.
  35,780   74,422
NMI Holdings, Inc., Class A(b)
  3,210   49,322
Northfield Bancorp, Inc.
  3,090   33,774
Northwest Bancshares, Inc.
  9,291   92,538
OFG Bancorp
  6,152   74,747
Old National Bancorp
  15,407   209,381
Pacific Premier Bancorp, Inc.
  5,122   110,738
PennyMac Mortgage Investment Trust
  16,119   177,470
Piper Sandler Cos.
  3,008   179,397
PRA Group, Inc.(b)
  8,037   274,222
Preferred Bank
  1,247   46,850
ProAssurance Corp.
  7,816   107,861
Provident Financial Services, Inc.
  5,327   69,411
Ready Capital Corp.
  7,212   42,334
Redwood Trust, Inc.
  12,231   65,436
S&T Bancorp, Inc.
  2,852   63,428
Safety Insurance Group, Inc.
  2,709   206,534
Seacoast Banking Corp. of Florida(b)
  3,417   74,320
Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
ServisFirst Bancshares, Inc.
  3,298   $115,034
Simmons First National Corp., Class A
  11,065   189,765
Southside Bancshares, Inc.
  2,353   66,355
Stewart Information Services Corp.
  13,865   427,319
Third Point Reinsurance Ltd. (Bermuda)(b)
  20,156   148,751
Tompkins Financial Corp.
  1,149   73,938
Triumph Bancorp, Inc.(b)
  2,662   65,352
TrustCo Bank Corp.
  7,327   46,160
United Community Banks, Inc.
  6,291   122,989
United Fire Group, Inc.
  7,795   209,140
United Insurance Holdings Corp.
  20,270   158,917
Universal Insurance Holdings, Inc.
  9,852   175,957
Veritex Holdings, Inc.
  3,914   68,573
Virtus Investment Partners, Inc.
  1,375   127,848
Waddell & Reed Financial, Inc., Class A
  19,766   257,749
Walker & Dunlop, Inc.
  4,190   169,695
Westamerica Bancorporation
  944   55,677
WisdomTree Investments, Inc.
  17,223   51,497
World Acceptance Corp.(b)(c)
  1,922   127,813
        11,512,243
Health Care-10.93%
Addus HomeCare Corp.(b)
  1,993   197,227
AMAG Pharmaceuticals, Inc.(b)(c)
  8,913   68,719
AMN Healthcare Services, Inc.(b)
  11,055   490,400
Amphastar Pharmaceuticals, Inc.(b)
  5,181   96,574
AngioDynamics, Inc.(b)
  6,670   68,101
ANI Pharmaceuticals, Inc.(b)
  1,076   33,421
Anika Therapeutics, Inc.(b)
  641   21,493
BioTelemetry, Inc.(b)
  2,944   138,898
Cardiovascular Systems, Inc.(b)
  1,710   66,211
Community Health Systems, Inc.(b)(c)
  1,198,829   3,776,311
Computer Programs & Systems, Inc.
  3,248   71,846
CONMED Corp.
  2,549   187,122
Corcept Therapeutics, Inc.(b)
  6,752   102,225
CorVel Corp.(b)
  2,186   148,408
Covetrus, Inc.(b)
  90,332   1,380,273
Cross Country Healthcare, Inc.(b)
  21,410   129,959
CryoLife, Inc.(b)
  3,237   73,577
Cutera, Inc.(b)
  1,486   19,734
Cytokinetics, Inc.(b)
  888   18,390
Eagle Pharmaceuticals, Inc.(b)
  1,034   53,003
Emergent BioSolutions, Inc.(b)
  5,959   497,517
Enanta Pharmaceuticals, Inc.(b)
  939   48,349
Endo International PLC(b)
  193,217   745,818
Ensign Group, Inc. (The)
  16,056   701,968
Hanger, Inc.(b)
  12,380   227,297
HealthStream, Inc.(b)
  2,734   62,280
Heska Corp.(b)
  401   35,260
HMS Holdings Corp.(b)
  6,422   200,623
Innoviva, Inc.(b)
  6,172   86,223
Inogen, Inc.(b)
  1,592   60,496
Integer Holdings Corp.(b)
  4,781   378,560
Invacare Corp.
  30,799   189,722
Lannett Co., Inc.(b)(c)
  21,228   162,394
Lantheus Holdings, Inc.(b)
  5,178   71,094
LeMaitre Vascular, Inc.
  989   26,594
Luminex Corp.
  4,586   142,900
Magellan Health, Inc.(b)
  28,460   2,134,215
Medpace Holdings, Inc.(b)
  3,157   293,033
Meridian Bioscience, Inc.(b)
  6,341   98,032
Merit Medical Systems, Inc.(b)
  9,923   446,436
Mesa Laboratories, Inc.(c)
  128   33,824
  Shares   Value
Health Care-(continued)
Momenta Pharmaceuticals, Inc.(b)
  1,066   $33,558
Myriad Genetics, Inc.(b)
  9,948   144,544
Natus Medical, Inc.(b)
  4,979   106,551
Neogen Corp.(b)
  1,854   132,042
NeoGenomics, Inc.(b)
  4,365   116,502
NextGen Healthcare, Inc.(b)
  10,970   113,210
Omnicell, Inc.(b)
  3,290   220,134
OraSure Technologies, Inc.(b)
  5,878   85,466
Orthofix Medical, Inc.(b)
  3,077   104,864
Owens & Minor, Inc.
  546,785   4,336,005
Pacira BioSciences, Inc.(b)
  2,626   115,413
Pennant Group, Inc. (The)(b)
  3,440   87,686
Phibro Animal Health Corp., Class A
  10,402   272,532
Progenics Pharmaceuticals, Inc.(b)
  1,405   5,964
Providence Service Corp. (The)(b)
  7,919   637,479
RadNet, Inc.(b)
  17,533   298,762
REGENXBIO, Inc.(b)
  449   16,909
Select Medical Holdings Corp.(b)
  71,828   1,159,304
Spectrum Pharmaceuticals, Inc.(b)(c)
  1,072   3,152
Supernus Pharmaceuticals, Inc.(b)
  5,571   134,372
SurModics, Inc.(b)
  748   27,661
Tabula Rasa HealthCare, Inc.(b)(c)
  2,144   114,554
Tactile Systems Technology, Inc.(b)
  809   39,196
Tivity Health, Inc.(b)(c)
  15,968   170,059
US Physical Therapy, Inc.
  1,241   92,008
Vanda Pharmaceuticals, Inc.(b)
  3,994   46,810
Varex Imaging Corp.(b)
  7,619   142,932
Xencor, Inc.(b)
  1,344   40,656
        22,582,852
Industrials-17.18%
AAON, Inc.
  2,799   151,622
AAR Corp.
  14,525   292,969
ABM Industries, Inc.
  53,393   1,640,767
Aegion Corp.(b)
  17,199   258,157
Aerojet Rocketdyne Holdings, Inc.(b)
  12,867   564,218
AeroVironment, Inc.(b)
  1,644   116,444
Alamo Group, Inc.
  2,756   284,750
Albany International Corp., Class A
  3,880   233,964
Allegiant Travel Co.
  3,136   334,141
American Woodmark Corp.(b)
  4,682   293,842
Apogee Enterprises, Inc.
  10,943   225,973
Applied Industrial Technologies, Inc.
  15,686   909,788
ArcBest Corp.
  33,802   756,827
Arcosa, Inc.
  11,704   446,742
Astec Industries, Inc.
  9,218   391,581
Atlas Air Worldwide Holdings, Inc.(b)
  30,383   1,186,760
AZZ, Inc.
  6,640   210,222
Barnes Group, Inc.
  7,364   278,212
Brady Corp., Class A
  6,174   315,677
Briggs & Stratton Corp.(c)
  103,583   169,876
Chart Industries, Inc.(b)
  6,428   252,299
CIRCOR International, Inc.(b)
  7,192   115,647
Comfort Systems USA, Inc.
  15,251   564,287
Cubic Corp.
  7,069   291,313
DXP Enterprises, Inc.(b)
  9,735   171,628
Echo Global Logistics, Inc.(b)
  35,070   725,949
Encore Wire Corp.
  6,834   330,014
Enerpac Tool Group Corp.
  11,662   208,750
EnPro Industries, Inc.
  6,857   309,114
ESCO Technologies, Inc.
  2,819   232,878
Exponent, Inc.
  1,825   135,488
Federal Signal Corp.
  11,229   327,213
Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
Forrester Research, Inc.(b)
  3,198   $100,417
Forward Air Corp.
  6,100   303,048
Franklin Electric Co., Inc.
  7,132   361,735
Gibraltar Industries, Inc.(b)
  5,971   262,784
GMS, Inc.(b)
  35,125   719,711
Granite Construction, Inc.
  39,393   693,317
Greenbrier Cos., Inc. (The)
  30,663   650,669
Griffon Corp.
  33,475   562,380
Harsco Corp.(b)
  22,650   252,774
Hawaiian Holdings, Inc.
  29,034   418,961
Heartland Express, Inc.
  8,311   182,011
Heidrick & Struggles International, Inc.
  7,076   156,946
Hillenbrand, Inc.
  16,577   426,692
Hub Group, Inc., Class A(b)
  23,094   1,080,106
Insteel Industries, Inc.
  6,072   107,171
Interface, Inc.
  23,708   201,281
John Bean Technologies Corp.
  5,173   424,962
Kaman Corp.
  5,922   236,880
Kelly Services, Inc., Class A
  74,630   1,118,704
Korn Ferry
  14,613   442,189
Lindsay Corp.
  1,446   135,808
Lydall, Inc.(b)
  12,851   139,048
Marten Transport Ltd.
  12,136   310,560
Matson, Inc.
  18,205   520,117
Matthews International Corp., Class A
  12,592   260,654
Mobile Mini, Inc.
  4,951   158,630
Moog, Inc., Class A
  9,807   532,422
Mueller Industries, Inc.
  23,333   624,858
MYR Group, Inc.(b)
  17,599   507,027
National Presto Industries, Inc.
  1,068   96,109
Park Aerospace Corp.
  1,086   13,173
Patrick Industries, Inc.
  13,730   712,175
PGT Innovations, Inc.(b)
  15,387   209,417
Pitney Bowes, Inc.
  237,405   562,650
Powell Industries, Inc.
  3,126   83,152
Proto Labs, Inc.(b)
  1,426   180,175
Quanex Building Products Corp.
  13,911   172,496
Raven Industries, Inc.
  3,408   73,102
Resources Connection, Inc.
  13,806   151,728
RR Donnelley & Sons Co.
  519,730   566,506
Saia, Inc.(b)
  5,823   631,446
Simpson Manufacturing Co., Inc.
  4,324   346,179
SkyWest, Inc.
  14,762   473,417
SPX Corp.(b)
  9,183   367,136
SPX FLOW, Inc.(b)
  11,284   390,201
Standex International Corp.
  3,027   160,159
Team, Inc.(b)
  22,185   109,372
Tennant Co.
  4,401   281,400
Titan International, Inc.
  146,557   180,265
Triumph Group, Inc.
  33,261   249,125
TrueBlue, Inc.(b)
  30,799   476,152
UFP Industries, Inc.
  27,338   1,250,167
UniFirst Corp.
  2,638   474,312
US Ecology, Inc.
  3,389   114,108
Veritiv Corp.(b)
  119,610   1,490,341
Viad Corp.
  6,152   112,828
Vicor Corp.(b)
  1,903   116,045
Wabash National Corp.
  45,761   437,017
Watts Water Technologies, Inc., Class A
  4,878   405,654
        35,504,981
Information Technology-11.21%
3D Systems Corp.(b)(c)
  22,266   164,100
  Shares   Value
Information Technology-(continued)
8x8, Inc.(b)
  6,919   $100,602
ADTRAN, Inc.
  18,027   205,508
Advanced Energy Industries, Inc.(b)
  2,681   179,171
Agilysys, Inc.(b)
  1,900   36,537
Alarm.com Holdings, Inc.(b)
  3,400   160,786
Anixter International, Inc.(b)
  29,882   2,860,006
Applied Optoelectronics, Inc.(b)(c)
  5,579   49,263
Arlo Technologies, Inc.(b)
  27,249   60,220
Axcelis Technologies, Inc.(b)
  4,409   118,382
Badger Meter, Inc.
  2,047   125,256
Bel Fuse, Inc., Class B
  8,142   76,291
Benchmark Electronics, Inc.
  21,051   446,071
Bottomline Technologies (DE), Inc.(b)
  2,496   126,298
Brooks Automation, Inc.
  5,637   225,311
CalAmp Corp.(b)
  9,603   73,943
Cardtronics PLC, Class A(b)
  9,839   238,005
CEVA, Inc.(b)
  907   31,264
Cohu, Inc.
  9,131   137,513
Comtech Telecommunications Corp.
  5,887   104,847
CSG Systems International, Inc.
  5,459   258,484
CTS Corp.
  5,040   107,554
Daktronics, Inc.
  29,628   125,623
Diebold Nixdorf, Inc.(b)
  138,972   665,676
Digi International, Inc.(b)
  4,556   50,708
Diodes, Inc.(b)
  7,587   369,032
DSP Group, Inc.(b)
  2,246   40,473
Ebix, Inc.(c)
  5,299   118,751
ePlus, Inc.(b)
  5,328   392,727
EVERTEC, Inc.
  4,606   134,127
ExlService Holdings, Inc.(b)
  4,237   259,177
Extreme Networks, Inc.(b)
  44,089   145,494
Fabrinet (Thailand)(b)
  7,817   499,819
FARO Technologies, Inc.(b)
  2,287   128,712
FormFactor, Inc.(b)
  6,679   168,110
Harmonic, Inc.(b)
  15,124   81,518
Ichor Holdings Ltd.(b)
  5,312   120,848
Insight Enterprises, Inc.(b)
  33,309   1,707,419
Itron, Inc.(b)
  8,878   571,921
KEMET Corp.
  15,762   426,047
Knowles Corp.(b)
  11,877   178,630
Kulicke & Soffa Industries, Inc. (Singapore)
  6,245   139,638
LivePerson, Inc.(b)(c)
  2,242   83,963
ManTech International Corp., Class A
  8,230   639,800
MaxLinear, Inc.(b)
  4,935   85,474
Methode Electronics, Inc.
  7,972   249,922
MicroStrategy, Inc., Class A(b)
  1,016   126,472
MTS Systems Corp.
  5,818   102,455
NETGEAR, Inc.(b)
  13,232   340,459
NIC, Inc.
  4,835   116,330
OneSpan, Inc.(b)
  4,470   90,830
Onto Innovation, Inc.(b)
  2,504   77,824
OSI Systems, Inc.(b)
  3,655   276,939
PDF Solutions, Inc.(b)
  1,511   25,778
Perficient, Inc.(b)
  3,889   132,382
Photronics, Inc.(b)
  10,305   123,557
Plantronics, Inc.
  23,790   309,984
Plexus Corp.(b)
  12,283   788,814
Power Integrations, Inc.
  1,302   141,072
Progress Software Corp.
  3,046   123,058
Qualys, Inc.(b)
  1,114   128,466
Rambus, Inc.(b)
  5,420   84,227
Rogers Corp.(b)
  2,138   231,460
Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
Sanmina Corp.(b)
  76,374   $2,032,312
ScanSource, Inc.(b)
  31,223   769,647
SMART Global Holdings, Inc.(b)
  11,570   309,845
SPS Commerce, Inc.(b)
  1,473   100,400
Sykes Enterprises, Inc.(b)
  13,300   362,558
TTEC Holdings, Inc.
  13,506   572,114
TTM Technologies, Inc.(b)
  55,648   643,847
Ultra Clean Holdings, Inc.(b)
  13,862   287,359
Unisys Corp.(b)
  75,872   861,906
Veeco Instruments, Inc.(b)
  8,897   104,451
Viavi Solutions, Inc.(b)
  23,691   274,579
Virtusa Corp.(b)
  8,930   268,525
Xperi Corp.
  5,753   79,104
        23,155,775
Materials-5.46%
AdvanSix, Inc.(b)
  20,516   242,909
American Vanguard Corp.
  8,120   107,996
Balchem Corp.
  1,889   190,128
Boise Cascade Co.
  38,067   1,295,420
Century Aluminum Co.(b)
  74,230   442,411
Clearwater Paper Corp.(b)
  25,387   735,461
Cleveland-Cliffs, Inc.(c)
  71,563   373,559
Ferro Corp.(b)
  32,395   389,388
FutureFuel Corp.
  6,531   85,426
GCP Applied Technologies, Inc.(b)
  14,316   288,324
H.B. Fuller Co.
  17,460   656,845
Hawkins, Inc.
  3,772   161,819
Haynes International, Inc.
  3,972   90,681
Innospec, Inc.
  4,633   357,158
Kaiser Aluminum Corp.
  4,063   291,520
Koppers Holdings, Inc.(b)
  14,627   242,369
Kraton Corp.(b)
  23,398   356,820
Livent Corp.(b)(c)
  14,933   100,648
Materion Corp.
  6,139   322,298
Mercer International, Inc. (Germany)
  41,773   337,108
Myers Industries, Inc.
  9,641   131,214
Neenah, Inc.
  4,032   203,858
Olympic Steel, Inc.
  29,107   321,050
PH Glatfelter Co.
  15,263   235,203
Quaker Chemical Corp.
  1,830   312,656
Rayonier Advanced Materials, Inc.
  146,805   318,567
Schweitzer-Mauduit International, Inc., Class A
  6,967   211,727
Stepan Co.
  5,815   564,985
SunCoke Energy, Inc.
  84,928   289,605
TimkenSteel Corp.(b)
  57,320   200,620
Tredegar Corp.
  13,356   204,480
Trinseo S.A.
  32,502   668,891
US Concrete, Inc.(b)
  11,428   238,388
Warrior Met Coal, Inc.
  21,487   302,537
        11,272,069
Real Estate-1.66%
Acadia Realty Trust
  3,453   40,504
Agree Realty Corp.
  839   52,664
American Assets Trust, Inc.
  2,360   61,761
Armada Hoffler Properties, Inc.
  3,607   31,092
CareTrust REIT, Inc.
  2,395   44,619
CBL & Associates Properties, Inc.(b)(c)
  234,061   70,312
Cedar Realty Trust, Inc.
  16,977   12,639
Chatham Lodging Trust
  5,515   37,226
Community Healthcare Trust, Inc.
  384   13,985
  Shares   Value
Real Estate-(continued)
DiamondRock Hospitality Co.
  26,214   $157,022
Easterly Government Properties, Inc.
  2,731   68,466
Essential Properties Realty Trust, Inc.
  1,593   21,729
Four Corners Property Trust, Inc.
  1,794   38,786
Franklin Street Properties Corp.
  9,769   52,167
Getty Realty Corp.
  1,289   34,313
Global Net Lease, Inc.
  4,654   65,296
Hersha Hospitality Trust
  11,425   57,582
Independence Realty Trust, Inc.
  4,518   44,683
Industrial Logistics Properties Trust
  3,127   58,631
Innovative Industrial Properties, Inc.(c)
  131   10,705
iStar, Inc.
  15,285   167,065
Kite Realty Group Trust
  5,554   53,874
Lexington Realty Trust
  9,571   93,030
LTC Properties, Inc.
  1,199   44,135
Marcus & Millichap, Inc.(b)
  6,683   184,250
National Storage Affiliates Trust
  3,412   102,394
Office Properties Income Trust
  6,109   154,497
Pennsylvania REIT(c)
  19,709   22,271
RE/MAX Holdings, Inc., Class A
  2,100   58,779
Realogy Holdings Corp.
  164,236   995,270
Retail Opportunity Investments Corp.
  4,987   46,828
RPT Realty
  5,106   29,462
Safehold, Inc.
  640   35,066
Saul Centers, Inc.
  1,422   43,200
St. Joe Co. (The)(b)
  1,509   29,048
Summit Hotel Properties, Inc.
  13,973   87,331
Universal Health Realty Income Trust
  204   19,052
Urstadt Biddle Properties, Inc., Class A
  1,776   22,662
Washington Prime Group, Inc.(c)
  57,023   36,529
Washington REIT
  3,251   71,295
Whitestone REIT
  2,527   15,541
Xenia Hotels & Resorts, Inc.
  16,363   147,267
        3,433,028
Utilities-0.79%
American States Water Co.
  1,686   138,269
Avista Corp.
  8,646   338,664
California Water Service Group
  4,355   204,685
El Paso Electric Co.
  3,896   264,811
Northwest Natural Holding Co.
  3,167   203,037
South Jersey Industries, Inc.
  16,823   477,100
        1,626,566
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $255,973,229)
  206,556,201
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-6.07%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $12,534,408)
  12,534,408   12,534,408
TOTAL INVESTMENTS IN SECURITIES-106.05%

(Cost $268,507,637)
  219,090,609
OTHER ASSETS LESS LIABILITIES-(6.05)%
  (12,500,346)
NET ASSETS-100.00%
  $206,590,263
 
Invesco S&P SmallCap 600 Revenue ETF (RWJ)—(continued)
May 31, 2020
(Unaudited)
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 May 31, 2020.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2020.
    
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Invesco Mortgage Capital, Inc.* $48,352   $-   $(50,418)   $2,981   $(915)   $-   $-
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class* 268,377   8,074,971   (8,343,348)   -   -   -   1,761
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 23,823,718   79,803,492   (103,627,210)   -   -   -   197,230
Invesco Liquid Assets Portfolio, Institutional Class* 7,950,340   22,616,153   (30,564,009)   (72)   (2,412)   -   30,235
Invesco Private Government Fund -   41,971,327   (29,436,919)   -   -   12,534,408   188
Total $32,090,787   $152,465,943   $(172,021,904)   $2,909   $(3,327)   $12,534,408   $229,414
    
* At May 31, 2020, this security was no longer held.
    
(e) The rate shown is the 7-day SEC standardized yield as of May 31, 2020.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
Schedule of Investments(a)
Invesco S&P Ultra Dividend Revenue ETF (RDIV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.61%
Communication Services-6.63%
AT&T, Inc.
  1,142,103   $35,245,298
Interpublic Group of Cos., Inc. (The)
  591,916   10,127,683
        45,372,981
Consumer Discretionary-3.46%
Foot Locker, Inc.
  309,328   8,568,385
H&R Block, Inc.
  188,943   3,212,031
Hanesbrands, Inc.
  715,415   7,053,992
Wyndham Destinations, Inc.
  152,935   4,863,333
        23,697,741
Consumer Staples-7.16%
Kraft Heinz Co. (The)
  745,265   22,708,224
Philip Morris International, Inc.
  358,099   26,270,143
        48,978,367
Energy-23.50%
Exxon Mobil Corp.
  775,421   35,258,393
Halliburton Co.
  2,071,700   24,342,475
Kinder Morgan, Inc.
  788,376   12,456,341
Marathon Petroleum Corp.
  1,298,844   45,641,378
Valero Energy Corp.
  647,053   43,119,612
        160,818,199
Financials-21.60%
Citizens Financial Group, Inc.
  319,996   7,711,904
Comerica, Inc.
  100,564   3,655,501
F.N.B. Corp.
  182,972   1,355,822
Hanover Insurance Group, Inc. (The)
  42,557   4,270,595
Huntington Bancshares, Inc.
  587,189   5,220,110
KeyCorp
  611,751   7,249,249
Mercury General Corp.
  79,996   3,218,239
Navient Corp.
  694,578   5,167,660
Principal Financial Group, Inc.
  465,993   17,996,650
Prudential Financial, Inc.
  632,833   38,577,500
Regions Financial Corp.
  583,696   6,601,602
Umpqua Holdings Corp.
  113,855   1,296,808
Unum Group
  689,565   10,446,910
Valley National Bancorp
  179,923   1,435,786
Wells Fargo & Co.
  1,269,960   33,615,841
        147,820,177
Health Care-4.67%
AbbVie, Inc.
  345,181   31,987,923
Industrials-2.29%
Nielsen Holdings PLC
  447,542   6,216,358
Ryder System, Inc.
  275,002   9,421,569
        15,637,927
  Shares   Value
Information Technology-6.44%
International Business Machines Corp.
  277,644   $34,677,736
Seagate Technology PLC
  177,011   9,388,663
        44,066,399
Materials-18.07%
Dow, Inc.
  1,034,768   39,942,045
Greif, Inc., Class A
  133,127   4,523,655
International Paper Co.
  623,713   21,237,428
LyondellBasell Industries N.V., Class A
  599,172   38,203,207
Olin Corp.
  374,735   4,508,062
Westrock Co.
  541,933   15,206,640
        123,621,037
Real Estate-3.09%
American Campus Communities, Inc.
  26,928   869,774
Highwoods Properties, Inc.
  17,782   680,517
Host Hotels & Resorts, Inc.
  430,680   5,142,319
Lamar Advertising Co., Class A
  29,667   1,966,922
Medical Properties Trust, Inc.
  46,434   839,527
National Retail Properties, Inc.
  19,614   615,684
SL Green Realty Corp.
  24,393   1,027,433
Spirit Realty Capital, Inc.
  16,522   469,721
Vornado Realty Trust
  120,866   4,376,558
Welltower, Inc.
  101,130   5,124,257
        21,112,712
Utilities-2.70%
CenterPoint Energy, Inc.
  626,223   11,134,245
PPL Corp.
  262,548   7,335,591
        18,469,836
Total Common Stocks & Other Equity Interests

(Cost $776,164,529)
  681,583,299
Money Market Funds-0.01%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(b)(c)

(Cost $67,348)
  67,348   67,348
TOTAL INVESTMENTS IN SECURITIES-99.62%

(Cost $776,231,877)
  681,650,647
OTHER ASSETS LESS LIABILITIES-0.38%
  2,606,108
NET ASSETS-100.00%
  $684,256,755
Invesco S&P Ultra Dividend Revenue ETF (RDIV)—(continued)
May 31, 2020
(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) 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 May 31, 2020.
    
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $61,241,987   $(61,174,639)   $-   $-   $67,348   $25,519
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 21,255,533   188,108,636   (209,364,169)   -   -   -   185,186
Invesco Liquid Assets Portfolio, Institutional Class* 7,098,369   52,942,043   (60,038,916)   (144)   (1,352)   -   29,148
Invesco Private Government Fund* -   42,825,153   (42,825,153)   -   -   -   38
Total $28,353,902   $345,117,819   $(373,402,877)   $(144)   $(1,352)   $67,348   $239,891
    
* At May 31, 2020, this security was no longer held.
    
(c) The rate shown is the 7-day SEC standardized yield as of May 31, 2020.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect a Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
Except for the Funds listed below, as of May 31, 2020, all of the securities in Invesco S&P Ultra Dividend Revenue ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories).The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
  Level 1   Level 2   Level 3   Total
Invesco S&P 500 Revenue ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $723,602,471   $-   $-   $723,602,471
Money Market Funds -   2,404,847   -   2,404,847
Total Investments $723,602,471   $2,404,847   $-   $726,007,318
Invesco S&P MidCap 400 Revenue ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $210,190,224   $-   $-   $210,190,224
Money Market Funds 49,834   7,020,433   -   7,070,267
Total Investments $210,240,058   $7,020,433   $-   $217,260,491
Invesco S&P SmallCap 600 Revenue ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $206,556,201   $-   $-   $206,556,201
Money Market Funds -   12,534,408   -   12,534,408
Total Investments $206,556,201   $12,534,408   $-   $219,090,609
Coronavirus (COVID-19) Pandemic
During the first quarter of 2020, the World Health Organization declared COVID-19 to be a public health emergency. COVID-19 has led to increased short-term market volatility and may have adverse long-term effects on U.S. and world economies and markets in general. COVID-19 may adversely impact the value of the Funds’ investments. Because of the uncertainties on valuation, the global economy and business operations, values reflected in the Schedules of Investments may materially differ from the value received upon actual sales of those investments.
The extent of the impact on the performance of the Funds and their investments will depend on future developments, including the duration and spread of the COVID-19 outbreak, related restrictions and advisories, and the effects on the financial markets and economy overall, all of which are highly uncertain and cannot be predicted.