NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.87%
Communication Services-4.63%
Activision Blizzard, Inc.
  81   $5,830
Alphabet, Inc., Class A(b)
  2   2,867
Alphabet, Inc., Class C(b)
  2   2,858
Altice USA, Inc., Class A(b)
  174   4,475
AT&T, Inc.
  111   3,426
Cable One, Inc.
  3   5,661
Charter Communications, Inc., Class A(b)
  9   4,896
Cinemark Holdings, Inc.
  124   1,864
Comcast Corp., Class A
  97   3,841
Discovery, Inc., Class A(b)(c)
  43   935
Discovery, Inc., Class C(b)
  93   1,822
DISH Network Corp., Class A(b)
  130   4,115
Electronic Arts, Inc.(b)
  43   5,284
Facebook, Inc., Class A(b)
  22   4,952
IAC/InterActiveCorp.(b)
  19   5,137
Interpublic Group of Cos., Inc. (The)
  194   3,319
John Wiley & Sons, Inc., Class A
  89   3,578
Liberty Media Corp.-Liberty SiriusXM, Class A(b)
  30   1,095
Liberty Media Corp.-Liberty SiriusXM, Class C(b)
  57   2,079
Live Nation Entertainment, Inc.(b)
  64   3,146
Match Group, Inc.(b)(c)
  65   5,788
New York Times Co. (The), Class A
  135   5,296
Nexstar Media Group, Inc., Class A
  39   3,249
Omnicom Group, Inc.
  55   3,013
Sinclair Broadcast Group, Inc., Class A(c)
  130   2,430
Sirius XM Holdings, Inc.
  618   3,597
Take-Two Interactive Software, Inc.(b)
  35   4,766
T-Mobile US, Inc.(b)
  56   5,602
Twitter, Inc.(b)
  141   4,367
Verizon Communications, Inc.
  72   4,131
Walt Disney Co. (The)
  28   3,284
        116,703
Consumer Discretionary-13.60%
Advance Auto Parts, Inc.
  28   3,901
Amazon.com, Inc.(b)
  2   4,885
Aptiv PLC
  46   3,466
Aramark
  104   2,693
AutoNation, Inc.(b)
  87   3,435
AutoZone, Inc.(b)
  4   4,591
Best Buy Co., Inc.
  53   4,139
Booking Holdings, Inc.(b)
  2   3,279
BorgWarner, Inc.
  99   3,183
Bright Horizons Family Solutions, Inc.(b)
  28   3,133
Burlington Stores, Inc.(b)
  20   4,193
CarMax, Inc.(b)
  45   3,962
Carnival Corp.
  95   1,495
Carter’s, Inc.
  43   3,694
Choice Hotels International, Inc.
  45   3,637
Columbia Sportswear Co.
  48   3,507
D.R. Horton, Inc.
  75   4,148
Darden Restaurants, Inc.
  40   3,074
Dick’s Sporting Goods, Inc.
  91   3,281
Dollar General Corp.
  27   5,171
Domino’s Pizza, Inc.
  15   5,788
Dunkin’ Brands Group, Inc.
  55   3,513
eBay, Inc.
  121   5,510
Etsy, Inc.(b)
  99   8,017
Extended Stay America, Inc.
  300   3,450
Five Below, Inc.(b)
  36   3,767
Floor & Decor Holdings, Inc., Class A(b)
  88   4,576
Foot Locker, Inc.
  110   3,047
  Shares   Value
Consumer Discretionary-(continued)
Ford Motor Co.
  474   $2,707
frontdoor, Inc.(b)
  96   4,382
Garmin Ltd.
  45   4,058
General Motors Co.
  122   3,157
Gentex Corp.
  151   3,992
Genuine Parts Co.
  42   3,503
Graham Holdings Co., Class B
  7   2,508
Grand Canyon Education, Inc.(b)
  51   4,977
H&R Block, Inc.
  182   3,094
Hanesbrands, Inc.
  292   2,879
Harley-Davidson, Inc.(c)
  120   2,561
Hasbro, Inc.
  46   3,381
Hilton Grand Vacations, Inc.(b)
  126   2,714
Hilton Worldwide Holdings, Inc.
  44   3,490
Home Depot, Inc. (The)
  19   4,721
Hyatt Hotels Corp., Class A(c)
  52   2,865
International Game Technology PLC
  299   2,521
Kohl’s Corp.
  92   1,768
Las Vegas Sands Corp.
  69   3,308
Lear Corp.
  37   3,924
Leggett & Platt, Inc.
  83   2,539
Lennar Corp., Class A
  74   4,474
Lennar Corp., Class B
  4   180
LKQ Corp.(b)
  120   3,295
Lowe’s Cos., Inc.
  38   4,953
Marriott International, Inc., Class A
  33   2,921
McDonald’s Corp.
  22   4,099
MGM Resorts International
  134   2,302
Mohawk Industries, Inc.(b)
  30   2,796
NIKE, Inc., Class B
  45   4,436
Norwegian Cruise Line Holdings Ltd.(b)
  77   1,206
NVR, Inc.(b)
  1   3,222
Ollie’s Bargain Outlet Holdings, Inc.(b)
  71   6,493
O’Reilly Automotive, Inc.(b)
  10   4,172
Penske Automotive Group, Inc.
  87   3,111
Polaris, Inc.
  45   3,930
Pool Corp.
  20   5,380
PulteGroup, Inc.
  108   3,669
PVH Corp.
  43   1,955
Ralph Lauren Corp.
  41   3,096
Ross Stores, Inc.
  40   3,878
Royal Caribbean Cruises Ltd.
  33   1,712
Service Corp. International
  98   3,864
Six Flags Entertainment Corp.
  101   2,321
Skechers U.S.A., Inc., Class A(b)
  105   3,289
Starbucks Corp.
  49   3,822
Target Corp.
  35   4,282
Tempur Sealy International, Inc.(b)
  54   3,522
Thor Industries, Inc.
  67   5,775
Tiffany & Co.
  31   3,972
TJX Cos., Inc. (The)
  69   3,640
Toll Brothers, Inc.
  107   3,457
Tractor Supply Co.
  46   5,613
Ulta Beauty, Inc.(b)
  17   4,148
Under Armour, Inc., Class A(b)(c)
  232   2,030
Under Armour, Inc., Class C(b)
  251   1,973
Urban Outfitters, Inc.(b)
  167   2,829
Vail Resorts, Inc.
  18   3,570
VF Corp.
  50   2,805
Wendy’s Co. (The)
  201   4,273
Whirlpool Corp.
  30   3,655
Williams-Sonoma, Inc.
  65   5,409
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
Wyndham Destinations, Inc.
  88   $2,798
Wyndham Hotels & Resorts, Inc.
  78   3,583
Wynn Resorts Ltd.
  35   2,915
Yum China Holdings, Inc. (China)
  97   4,495
Yum! Brands, Inc.
  44   3,948
        342,852
Consumer Staples-5.85%
Altria Group, Inc.
  83   3,241
Archer-Daniels-Midland Co.
  102   4,010
Campbell Soup Co.
  87   4,435
Casey’s General Stores, Inc.
  25   3,993
Church & Dwight Co., Inc.
  63   4,730
Coca-Cola Co. (The)
  80   3,734
Colgate-Palmolive Co.
  65   4,702
Conagra Brands, Inc.
  148   5,149
Constellation Brands, Inc., Class A
  23   3,972
Costco Wholesale Corp.
  14   4,319
Energizer Holdings, Inc.(c)
  83   3,642
Estee Lauder Cos., Inc. (The), Class A
  22   4,344
Flowers Foods, Inc.
  197   4,647
General Mills, Inc.
  79   4,980
Hershey Co. (The)
  30   4,071
Hormel Foods Corp.
  94   4,590
JM Smucker Co. (The)
  40   4,557
Kellogg Co.
  68   4,441
Keurig Dr Pepper, Inc.
  140   3,909
Kimberly-Clark Corp.
  32   4,526
Kroger Co. (The)
  154   5,024
Lamb Weston Holdings, Inc.
  53   3,183
McCormick & Co., Inc.
  26   4,554
Mondelez International, Inc., Class A
  79   4,118
Monster Beverage Corp.(b)
  74   5,321
PepsiCo, Inc.
  32   4,210
Philip Morris International, Inc.
  51   3,741
Pilgrim’s Pride Corp.(b)
  131   2,708
Post Holdings, Inc.(b)
  39   3,395
Procter & Gamble Co. (The)
  35   4,057
Seaboard Corp.
  1   2,940
Spectrum Brands Holdings, Inc.
  66   3,123
Sysco Corp.
  52   2,868
Tyson Foods, Inc., Class A
  46   2,826
US Foods Holding Corp.(b)
  107   2,048
Walgreens Boots Alliance, Inc.
  73   3,135
Walmart, Inc.
  35   4,342
        147,585
Energy-2.97%
Apergy Corp.(b)(c)
  159   1,442
Baker Hughes Co., Class A
  192   3,170
Cabot Oil & Gas Corp.
  266   5,278
Chevron Corp.
  38   3,485
Cimarex Energy Co.
  93   2,444
Concho Resources, Inc.
  56   3,053
ConocoPhillips
  71   2,995
Continental Resources, Inc.(c)
  135   1,651
Devon Energy Corp.
  191   2,065
Diamondback Energy, Inc.
  56   2,385
EOG Resources, Inc.
  57   2,905
Equitrans Midstream Corp.
  448   3,624
Exxon Mobil Corp.
  62   2,819
Halliburton Co.
  199   2,338
HollyFrontier Corp.
  83   2,610
  Shares   Value
Energy-(continued)
Kinder Morgan, Inc.
  223   $3,523
Kosmos Energy Ltd. (Ghana)
  696   1,267
Marathon Oil Corp.
  349   1,864
Marathon Petroleum Corp.
  69   2,425
Murphy Oil Corp.
  178   2,127
Occidental Petroleum Corp.
  113   1,463
ONEOK, Inc.
  61   2,238
Parsley Energy, Inc., Class A
  269   2,459
Phillips 66
  37   2,896
Pioneer Natural Resources Co.
  35   3,206
Valero Energy Corp.
  44   2,932
Williams Cos., Inc. (The)
  194   3,963
WPX Energy, Inc.(b)
  414   2,347
        74,974
Financials-15.92%
Aflac, Inc.
  79   2,881
Alleghany Corp.
  5   2,566
Allstate Corp. (The)
  41   4,010
Ally Financial, Inc.
  135   2,354
American Express Co.
  35   3,327
American Financial Group, Inc.
  37   2,229
American International Group, Inc.
  86   2,585
Ameriprise Financial, Inc.
  27   3,782
Aon PLC, Class A
  22   4,333
Arch Capital Group Ltd.(b)
  103   2,907
Arthur J. Gallagher & Co.
  46   4,337
Associated Banc-Corp.
  200   2,802
Assurant, Inc.
  34   3,488
Assured Guaranty Ltd.
  88   2,282
Athene Holding Ltd., Class A(b)
  100   2,889
AXIS Capital Holdings Ltd.
  76   2,853
Bank of America Corp.
  130   3,136
Bank of Hawaii Corp.
  50   3,216
Bank of New York Mellon Corp. (The)
  90   3,345
Bank OZK
  139   3,126
BankUnited, Inc.
  125   2,310
Berkshire Hathaway, Inc., Class B(b)
  19   3,526
BGC Partners, Inc., Class A
  738   1,900
BlackRock, Inc.
  9   4,758
Brighthouse Financial, Inc.(b)
  109   3,238
Brown & Brown, Inc.
  111   4,462
Capital One Financial Corp.
  44   2,994
Cboe Global Markets, Inc.
  37   3,939
Charles Schwab Corp. (The)
  90   3,232
Chimera Investment Corp.(c)
  211   1,753
Chubb Ltd.
  29   3,536
Cincinnati Financial Corp.
  40   2,358
CIT Group, Inc.
  100   1,814
Citigroup, Inc.
  55   2,635
Citizens Financial Group, Inc.
  109   2,627
CME Group, Inc., Class A
  21   3,835
CNA Financial Corp.
  99   2,993
Comerica, Inc.
  64   2,326
Commerce Bancshares, Inc.
  71   4,525
Credit Acceptance Corp.(b)(c)
  10   3,698
Cullen/Frost Bankers, Inc.
  47   3,571
Discover Financial Services
  54   2,566
East West Bancorp, Inc.
  91   3,180
Eaton Vance Corp.
  89   3,208
Equitable Holdings, Inc.
  178   3,402
Erie Indemnity Co., Class A
  25   4,506
Evercore, Inc., Class A
  56   3,086
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
Everest Re Group Ltd.
  16   $3,175
F.N.B. Corp.
  352   2,608
FactSet Research Systems, Inc.
  17   5,228
Fidelity National Financial, Inc.
  94   2,999
Fifth Third Bancorp
  141   2,734
First American Financial Corp.
  67   3,383
First Citizens BancShares, Inc., Class A
  8   3,080
First Hawaiian, Inc.
  150   2,588
First Horizon National Corp.
  271   2,534
First Republic Bank
  41   4,435
Globe Life, Inc.
  40   3,081
Goldman Sachs Group, Inc. (The)
  21   4,126
Hanover Insurance Group, Inc. (The)
  35   3,512
Hartford Financial Services Group, Inc. (The)
  70   2,680
Huntington Bancshares, Inc.
  289   2,569
Intercontinental Exchange, Inc.
  47   4,571
Invesco Ltd.(d)
  254   2,024
Janus Henderson Group PLC (United Kingdom)
  169   3,644
Jefferies Financial Group, Inc.
  202   2,959
JPMorgan Chase & Co.
  33   3,211
Kemper Corp.
  61   3,867
KeyCorp
  221   2,619
Lazard Ltd., Class A
  113   3,035
Lincoln National Corp.
  78   2,959
Loews Corp.
  85   2,825
LPL Financial Holdings, Inc.
  48   3,427
M&T Bank Corp.
  26   2,747
Markel Corp.(b)
  4   3,590
Marsh & McLennan Cos., Inc.
  39   4,131
MetLife, Inc.
  85   3,061
MFA Financial, Inc.
  554   936
MGIC Investment Corp.
  302   2,479
Moody’s Corp.
  18   4,813
Morgan Stanley
  90   3,978
Morningstar, Inc.
  27   4,140
Nasdaq, Inc.
  40   4,738
Navient Corp.
  305   2,269
New Residential Investment Corp.
  269   1,929
New York Community Bancorp, Inc.
  362   3,638
Northern Trust Corp.
  40   3,160
Old Republic International Corp.
  189   2,947
OneMain Holdings, Inc.
  97   2,263
PacWest Bancorp
  118   2,043
People’s United Financial, Inc.
  264   3,023
Pinnacle Financial Partners, Inc.
  72   2,869
PNC Financial Services Group, Inc. (The)
  29   3,307
Popular, Inc.
  75   2,962
Primerica, Inc.
  32   3,636
Principal Financial Group, Inc.
  83   3,205
Progressive Corp. (The)
  62   4,816
Prosperity Bancshares, Inc.
  62   4,054
Prudential Financial, Inc.
  49   2,987
Raymond James Financial, Inc.
  48   3,325
Regions Financial Corp.
  258   2,918
Reinsurance Group of America, Inc.
  25   2,269
RenaissanceRe Holdings Ltd. (Bermuda)
  22   3,693
S&P Global, Inc.
  16   5,200
Santander Consumer USA Holdings, Inc.(c)
  183   3,025
SEI Investments Co.
  65   3,524
Signature Bank
  35   3,602
Starwood Property Trust, Inc.
  173   2,294
State Street Corp.
  55   3,353
  Shares   Value
Financials-(continued)
Sterling Bancorp
  212   $2,608
SVB Financial Group(b)
  19   4,080
Synchrony Financial
  112   2,281
Synovus Financial Corp.
  111   2,130
T. Rowe Price Group, Inc.
  36   4,352
TCF Financial Corp.
  101   2,921
Travelers Cos., Inc. (The)
  33   3,530
Truist Financial Corp.
  79   2,906
U.S. Bancorp
  71   2,525
Umpqua Holdings Corp.
  259   2,950
Unum Group
  150   2,273
Voya Financial, Inc.
  75   3,379
W.R. Berkley Corp.
  64   3,709
Wells Fargo & Co.
  80   2,118
Western Alliance Bancorporation
  84   3,205
Willis Towers Watson PLC
  22   4,464
Zions Bancorporation N.A.
  89   2,929
        401,583
Health Care-9.90%
Abbott Laboratories
  50   4,746
AbbVie, Inc.
  52   4,819
Agilent Technologies, Inc.
  55   4,848
AmerisourceBergen Corp.
  49   4,672
Amgen, Inc.
  19   4,364
Anthem, Inc.
  15   4,412
Baxter International, Inc.
  51   4,590
Becton, Dickinson and Co.
  17   4,198
Biogen, Inc.(b)
  15   4,606
Bio-Rad Laboratories, Inc., Class A(b)
  11   5,404
Bristol-Myers Squibb Co.
  73   4,359
Bruker Corp.
  86   3,722
Cantel Medical Corp.
  57   2,399
Catalent, Inc.(b)
  83   6,452
Centene Corp.(b)
  117   7,751
Cerner Corp.
  61   4,447
Charles River Laboratories International, Inc.(b)
  30   5,390
Chemed Corp.
  10   4,785
Cigna Corp.
  23   4,538
Cooper Cos., Inc. (The)
  14   4,438
CVS Health Corp.
  60   3,934
Danaher Corp.
  29   4,832
DaVita, Inc.(b)
  61   4,938
Eli Lilly and Co.
  36   5,506
Encompass Health Corp.
  59   4,322
Exelixis, Inc.(b)
  244   6,029
Gilead Sciences, Inc.
  63   4,903
HCA Healthcare, Inc.
  29   3,100
Henry Schein, Inc.(b)
  60   3,643
Hill-Rom Holdings, Inc.
  40   4,067
Humana, Inc.
  12   4,928
Integra LifeSciences Holdings Corp.(b)
  72   3,752
IQVIA Holdings, Inc.(b)
  30   4,486
Jazz Pharmaceuticals PLC(b)
  28   3,341
Johnson & Johnson
  30   4,462
Laboratory Corp. of America Holdings(b)
  24   4,208
Masimo Corp.(b)
  27   6,485
Medtronic PLC
  38   3,746
Merck & Co., Inc.
  48   3,875
Mettler-Toledo International, Inc.(b)
  6   4,770
Molina Healthcare, Inc.(b)
  32   5,946
PerkinElmer, Inc.
  46   4,622
Perrigo Co. PLC
  84   4,601
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Health Care-(continued)
PRA Health Sciences, Inc.(b)
  42   $4,347
Quest Diagnostics, Inc.
  40   4,731
Regeneron Pharmaceuticals, Inc.(b)
  12   7,354
STERIS PLC
  29   4,811
Stryker Corp.
  21   4,110
Thermo Fisher Scientific, Inc.
  13   4,539
UnitedHealth Group, Inc.
  15   4,573
Universal Health Services, Inc., Class B
  31   3,269
Varian Medical Systems, Inc.(b)
  30   3,642
Waters Corp.(b)
  19   3,797
Zoetis, Inc.
  36   5,018
        249,627
Industrials-15.42%
A.O. Smith Corp.
  91   4,322
Acuity Brands, Inc.
  34   2,929
AGCO Corp.
  55   3,038
Air Lease Corp.
  94   2,830
Alaska Air Group, Inc.
  62   2,120
Allegion PLC
  33   3,290
AMERCO
  12   3,870
American Airlines Group, Inc.(c)
  153   1,607
AMETEK, Inc.
  44   4,035
Armstrong World Industries, Inc.
  48   3,619
Boeing Co. (The)
  13   1,896
BWX Technologies, Inc.
  73   4,568
Carlisle Cos., Inc.
  28   3,356
Carrier Global Corp.(b)
  31   635
Caterpillar, Inc.
  32   3,844
Cintas Corp.
  17   4,215
Clean Harbors, Inc.(b)
  50   2,970
Copa Holdings S.A., Class A (Panama)
  44   1,930
Copart, Inc.(b)
  51   4,559
CoreLogic, Inc.
  106   5,253
Crane Co.
  52   2,897
CSX Corp.
  62   4,438
Cummins, Inc.
  24   4,070
Curtiss-Wright Corp.
  29   2,909
Deere & Co.
  25   3,803
Delta Air Lines, Inc.
  76   1,916
Donaldson Co., Inc.
  77   3,654
Dover Corp.
  41   3,987
Eaton Corp. PLC
  50   4,245
Emerson Electric Co.
  58   3,539
Expeditors International of Washington, Inc.
  59   4,506
Fastenal Co.
  119   4,910
Flowserve Corp.
  92   2,401
Fortune Brands Home & Security, Inc.
  69   4,206
General Dynamics Corp.
  24   3,524
Graco, Inc.
  92   4,435
GrafTech International Ltd.(c)
  304   2,079
HD Supply Holdings, Inc.(b)
  111   3,520
Hexcel Corp.
  52   1,882
Honeywell International, Inc.
  24   3,500
Howmet Aerospace, Inc.
  142   1,857
Hubbell, Inc.
  30   3,673
Huntington Ingalls Industries, Inc.
  17   3,398
IDEX Corp.
  27   4,303
IHS Markit Ltd.
  62   4,307
Illinois Tool Works, Inc.
  25   4,311
Ingersoll Rand, Inc.(b)
  158   4,456
ITT, Inc.
  59   3,404
J.B. Hunt Transport Services, Inc.
  37   4,428
  Shares   Value
Industrials-(continued)
Jacobs Engineering Group, Inc.
  47   $3,949
JetBlue Airways Corp.(b)
  222   2,236
Johnson Controls International PLC
  99   3,110
Kansas City Southern
  28   4,215
KAR Auction Services, Inc.
  203   2,913
Kirby Corp.(b)
  51   2,615
Knight-Swift Transportation Holdings, Inc.
  117   4,868
L3Harris Technologies, Inc.
  22   4,388
Landstar System, Inc.
  39   4,534
Lennox International, Inc.
  17   3,635
Lincoln Electric Holdings, Inc.
  50   4,108
Lockheed Martin Corp.
  11   4,273
Macquarie Infrastructure Corp.
  104   2,953
ManpowerGroup, Inc.
  46   3,180
Masco Corp.
  91   4,245
Middleby Corp. (The)(b)
  40   2,724
Nordson Corp.
  26   4,897
Norfolk Southern Corp.
  22   3,922
Northrop Grumman Corp.
  12   4,022
nVent Electric PLC
  178   3,263
Old Dominion Freight Line, Inc.
  36   6,159
Oshkosh Corp.
  48   3,447
Otis Worldwide Corp.
  15   790
Owens Corning
  63   3,307
PACCAR, Inc.
  55   4,062
Parker-Hannifin Corp.
  22   3,959
Pentair PLC
  100   3,914
Quanta Services, Inc.
  105   3,878
Raytheon Technologies Corp.
  75   4,839
Regal Beloit Corp.
  53   4,216
Republic Services, Inc.
  50   4,273
Rockwell Automation, Inc.
  21   4,539
Roper Technologies, Inc.
  12   4,726
Ryder System, Inc.
  86   2,946
Schneider National, Inc., Class B
  196   4,737
Sensata Technologies Holding PLC(b)
  85   3,030
Snap-on, Inc.
  26   3,372
Southwest Airlines Co.
  78   2,504
Spirit AeroSystems Holdings, Inc., Class A
  49   1,062
Stanley Black & Decker, Inc.
  27   3,387
Teledyne Technologies, Inc.(b)
  12   4,489
Timken Co. (The)
  79   3,361
Toro Co. (The)
  55   3,909
Trane Technologies PLC
  32   2,887
TransDigm Group, Inc.
  7   2,974
TransUnion
  49   4,228
Union Pacific Corp.
  24   4,077
United Airlines Holdings, Inc.(b)
  49   1,374
United Parcel Service, Inc., Class B
  36   3,590
United Rentals, Inc.(b)
  29   4,028
Valmont Industries, Inc.
  29   3,306
Verisk Analytics, Inc.
  30   5,180
W.W. Grainger, Inc.
  13   4,025
Wabtec Corp.
  54   3,298
Waste Management, Inc.
  37   3,950
Watsco, Inc.
  24   4,270
WESCO International, Inc.(b)
  82   2,731
Woodward, Inc.
  35   2,400
XPO Logistics, Inc.(b)
  54   4,256
Xylem, Inc.
  58   3,848
        388,822
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Information Technology-13.71%
Accenture PLC, Class A
  21   $4,234
Akamai Technologies, Inc.(b)
  52   5,502
Amdocs Ltd.
  63   3,922
Amphenol Corp., Class A
  39   3,766
Analog Devices, Inc.
  39   4,405
Apple, Inc.
  16   5,087
Applied Materials, Inc.
  75   4,214
Aspen Technology, Inc.(b)
  34   3,592
Automatic Data Processing, Inc.
  26   3,809
Avnet, Inc.
  108   2,942
Black Knight, Inc.(b)
  68   5,235
Booz Allen Hamilton Holding Corp.
  62   4,945
Broadcom, Inc.
  13   3,787
Broadridge Financial Solutions, Inc.
  36   4,360
CACI International, Inc., Class A(b)
  18   4,514
CDK Global, Inc.
  82   3,223
CDW Corp.
  31   3,438
Ciena Corp.(b)
  117   6,465
Cisco Systems, Inc.
  95   4,543
Citrix Systems, Inc.
  40   5,925
Cognex Corp.
  88   4,993
Cognizant Technology Solutions Corp., Class A
  69   3,657
Coherent, Inc.(b)
  30   4,356
Dolby Laboratories, Inc., Class A
  63   3,826
Entegris, Inc.
  92   5,509
Euronet Worldwide, Inc.(b)
  25   2,368
FleetCor Technologies, Inc.(b)
  14   3,413
FLIR Systems, Inc.
  79   3,650
Fortinet, Inc.(b)
  42   5,846
Gartner, Inc.(b)
  28   3,408
Genpact Ltd.
  103   3,703
GoDaddy, Inc., Class A(b)
  62   4,789
Hewlett Packard Enterprise Co.
  272   2,641
HP, Inc.
  214   3,240
Intel Corp.
  76   4,783
International Business Machines Corp.
  33   4,122
Intuit, Inc.
  17   4,935
IPG Photonics Corp.(b)
  29   4,507
Jabil, Inc.
  107   3,201
Jack Henry & Associates, Inc.
  29   5,245
Keysight Technologies, Inc.(b)
  43   4,650
KLA Corp.
  26   4,575
Lam Research Corp.
  17   4,652
Leidos Holdings, Inc.
  50   5,264
Littelfuse, Inc.
  25   4,062
LogMeIn, Inc.
  60   5,094
Maxim Integrated Products, Inc.
  73   4,211
Microchip Technology, Inc.
  43   4,129
Micron Technology, Inc.(b)
  92   4,408
Microsoft Corp.
  30   5,497
MKS Instruments, Inc.
  40   4,225
Motorola Solutions, Inc.
  25   3,383
NCR Corp.(b)
  130   2,347
NetApp, Inc.
  71   3,162
NortonLifeLock, Inc.
  167   3,804
Nuance Communications, Inc.(b)
  245   5,606
NVIDIA Corp.
  20   7,100
ON Semiconductor Corp.(b)
  197   3,249
Oracle Corp.
  79   4,248
Paychex, Inc.
  52   3,759
PayPal Holdings, Inc.(b)
  43   6,665
Qorvo, Inc.(b)
  39   4,085
  Shares   Value
Information Technology-(continued)
QUALCOMM, Inc.
  51   $4,125
RealPage, Inc.(b)
  75   5,086
Sabre Corp.
  191   1,331
Skyworks Solutions, Inc.
  44   5,216
SS&C Technologies Holdings, Inc.
  71   4,111
SYNNEX Corp.
  36   3,839
Synopsys, Inc.(b)
  32   5,789
Teradyne, Inc.
  67   4,490
Texas Instruments, Inc.
  35   4,156
Trimble, Inc.(b)
  107   4,186
Ubiquiti, Inc.(c)
  21   3,873
VeriSign, Inc.(b)
  23   5,037
Visa, Inc., Class A
  25   4,881
VMware, Inc., Class A(b)(c)
  29   4,532
Western Union Co. (The)
  157   3,143
WEX, Inc.(b)
  20   2,962
Xerox Holdings Corp.
  109   1,731
Xilinx, Inc.
  50   4,597
Zebra Technologies Corp., Class A(b)
  17   4,442
        345,802
Materials-6.38%
Air Products and Chemicals, Inc.
  20   4,833
AptarGroup, Inc.
  38   4,233
Arconic Corp.(b)
  35   506
Ashland Global Holdings, Inc.
  61   4,097
Avery Dennison Corp.
  32   3,541
Axalta Coating Systems Ltd.(b)
  144   3,328
Ball Corp.
  68   4,846
Cabot Corp.
  93   3,322
Celanese Corp.
  38   3,417
CF Industries Holdings, Inc.
  93   2,731
Crown Holdings, Inc.(b)
  58   3,795
Domtar Corp.
  116   2,366
DuPont de Nemours, Inc.
  67   3,399
Eagle Materials, Inc.
  48   3,204
Eastman Chemical Co.
  60   4,085
Ecolab, Inc.
  23   4,889
FMC Corp.
  44   4,330
Freeport-McMoRan, Inc.
  386   3,501
Graphic Packaging Holding Co.
  263   3,806
International Flavors & Fragrances, Inc.(c)
  32   4,262
International Paper Co.
  95   3,235
Linde PLC (United Kingdom)
  21   4,249
LyondellBasell Industries N.V., Class A
  49   3,124
Martin Marietta Materials, Inc.
  16   3,073
NewMarket Corp.
  9   3,925
Newmont Corp.
  112   6,549
Nucor Corp.
  77   3,254
Olin Corp.(c)
  255   3,068
Packaging Corp. of America
  39   3,955
PPG Industries, Inc.
  31   3,152
Reliance Steel & Aluminum Co.
  38   3,686
RPM International, Inc.
  60   4,487
Scotts Miracle-Gro Co. (The)
  42   5,988
Sealed Air Corp.
  116   3,724
Sherwin-Williams Co. (The)
  7   4,157
Silgan Holdings, Inc.
  141   4,715
Sonoco Products Co.
  69   3,575
Southern Copper Corp. (Peru)
  111   4,029
Steel Dynamics, Inc.
  123   3,267
Valvoline, Inc.
  192   3,523
Vulcan Materials Co.
  29   3,141
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Materials-(continued)
W.R. Grace & Co.
  68   $3,550
Westlake Chemical Corp.
  61   2,910
        160,827
Real Estate-6.39%
American Campus Communities, Inc.
  91   2,939
Apartment Investment & Management Co., Class A
  83   3,060
Apple Hospitality REIT, Inc.
  268   2,736
AvalonBay Communities, Inc.
  19   2,964
Boston Properties, Inc.
  30   2,579
Brandywine Realty Trust
  280   2,702
Brixmor Property Group, Inc.
  195   2,176
Brookfield Property REIT, Inc., Class A(c)
  230   2,390
Camden Property Trust
  38   3,480
CBRE Group, Inc., Class A(b)
  77   3,386
CoreSite Realty Corp.
  36   4,494
Corporate Office Properties Trust
  150   3,745
CubeSmart
  141   4,013
Digital Realty Trust, Inc.
  35   5,025
Douglas Emmett, Inc.
  100   2,936
Duke Realty Corp.
  119   4,103
EPR Properties
  61   1,926
Equity Commonwealth
  130   4,381
Equity Residential
  53   3,210
Essex Property Trust, Inc.
  14   3,399
Extra Space Storage, Inc.
  40   3,870
Federal Realty Investment Trust
  35   2,797
Gaming and Leisure Properties, Inc.
  100   3,454
Healthcare Trust of America, Inc., Class A
  139   3,679
Healthpeak Properties, Inc.
  123   3,031
Highwoods Properties, Inc.
  89   3,406
Howard Hughes Corp. (The)(b)
  42   2,127
Hudson Pacific Properties, Inc.
  122   2,949
Iron Mountain, Inc.
  134   3,452
Jones Lang LaSalle, Inc.
  27   2,765
Kilroy Realty Corp.
  54   3,084
Kimco Realty Corp.
  201   2,233
Lamar Advertising Co., Class A
  52   3,448
Life Storage, Inc.
  40   3,899
Medical Properties Trust, Inc.
  203   3,670
Mid-America Apartment Communities, Inc.
  31   3,607
National Retail Properties, Inc.
  80   2,511
Omega Healthcare Investors, Inc.
  100   3,114
Outfront Media, Inc.
  171   2,401
Prologis, Inc.
  93   8,509
Rayonier, Inc.
  137   3,254
Regency Centers Corp.
  66   2,824
Retail Properties of America, Inc., Class A
  306   1,659
Service Properties Trust
  186   1,256
SL Green Realty Corp.
  48   2,022
Spirit Realty Capital, Inc.
  81   2,303
VICI Properties, Inc.
  173   3,394
Vornado Realty Trust
  66   2,390
Weingarten Realty Investors
  135   2,414
Welltower, Inc.
  54   2,736
WP Carey, Inc.
  53   3,175
        161,077
Utilities-5.10%
AES Corp. (The)
  228   2,848
  Shares   Value
Utilities-(continued)
Alliant Energy Corp.
  80   $3,949
Ameren Corp.
  60   4,484
American Electric Power Co., Inc.
  47   4,007
American Water Works Co., Inc.
  34   4,318
Atmos Energy Corp.
  39   4,008
Avangrid, Inc.
  90   4,003
CMS Energy Corp.
  67   3,925
Consolidated Edison, Inc.
  52   3,903
Dominion Energy, Inc.
  51   4,335
DTE Energy Co.
  34   3,657
Duke Energy Corp.
  47   4,025
Entergy Corp.
  36   3,666
Essential Utilities, Inc.
  98   4,288
Evergy, Inc.
  67   4,133
Eversource Energy
  51   4,269
Exelon Corp.
  94   3,601
FirstEnergy Corp.
  90   3,803
Hawaiian Electric Industries, Inc.
  99   3,907
IDACORP, Inc.
  40   3,729
MDU Resources Group, Inc.
  143   3,112
NextEra Energy, Inc.
  19   4,856
NiSource, Inc.
  163   3,884
NRG Energy, Inc.
  107   3,857
OGE Energy Corp.
  100   3,132
Pinnacle West Capital Corp.
  50   3,895
PPL Corp.
  126   3,520
Public Service Enterprise Group, Inc.
  73   3,726
Sempra Energy
  28   3,537
Southern Co. (The)
  68   3,881
Vistra Energy Corp.
  168   3,434
WEC Energy Group, Inc.
  47   4,311
Xcel Energy, Inc.
  71   4,617
        128,620
Total Common Stocks & Other Equity Interests

(Cost $2,928,785)
  2,518,472
Money Market Funds-0.10%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $2,439)
  2,439   2,439
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.97%

(Cost $2,931,224)
  2,520,911
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.95%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $49,203)
  49,203   49,203
TOTAL INVESTMENTS IN SECURITIES-101.92%

(Cost $2,980,427)
  2,570,114
OTHER ASSETS LESS LIABILITIES-(1.92)%
  (48,497)
NET ASSETS-100.00%
  $2,521,617
 
Invesco Russell 1000 Enhanced Equal Weight ETF (USEQ)—(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 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Invesco Ltd. $19,295   $5,881   $(16,638)   $2,688   $(9,202)   $2,024   $785
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class -   331,155   (328,716)   -   -   2,439   145
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 164,481   1,400,057   (1,564,538)   -   -   -   1,666
Invesco Liquid Assets Portfolio, Institutional Class* 53,557   414,546   (468,085)   -   (18)   -   283
Invesco Private Government Fund -   147,859   (98,656)   -   -   49,203   1
Total $237,333   $2,299,498   $(2,476,633)   $2,688   $(9,220)   $53,666   $2,880
    
* 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 Russell 1000 Equal Weight ETF (EQAL)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.86%
Communication Services-4.81%
Activision Blizzard, Inc.
  4,659   $335,355
Alphabet, Inc., Class C(b)
  233   332,938
Altice USA, Inc., Class A(b)
  10,591   272,401
AMC Networks, Inc., Class A(b)
  8,667   245,016
AT&T, Inc.
  24,963   770,358
Cable One, Inc.
  171   322,658
CenturyLink, Inc.
  84,252   828,197
Charter Communications, Inc., Class A(b)
  512   278,528
Cinemark Holdings, Inc.
  14,971   225,014
Comcast Corp., Class A
  6,284   248,846
Discovery, Inc., Class A(b)(c)
  9,880   214,890
DISH Network Corp., Class A(b)
  11,070   350,366
Electronic Arts, Inc.(b)
  2,743   337,060
Facebook, Inc., Class A(b)
  1,660   373,649
Fox Corp., Class A
  8,373   244,240
GCI Liberty, Inc., Class A(b)
  14,750   1,020,553
IAC/InterActiveCorp.(b)
  1,528   413,125
Interpublic Group of Cos., Inc. (The)
  14,425   246,812
John Wiley & Sons, Inc., Class A
  6,414   257,843
Liberty Broadband Corp., Class C(b)
  2,042   278,978
Liberty Media Corp.-Liberty Formula One, Class C(b)
  8,620   298,683
Liberty Media Corp.-Liberty SiriusXM, Class C(b)
  6,203   226,223
Lions Gate Entertainment Corp., Class A(b)(c)
  47,302   376,997
Live Nation Entertainment, Inc.(b)
  6,072   298,500
Madison Square Garden Entertainment Corp.(b)(c)
  1,122   88,896
Madison Square Garden Sports Corp., Class A(b)
  1,122   191,447
Match Group, Inc.(b)(c)
  4,418   393,379
Netflix, Inc.(b)
  713   299,268
New York Times Co. (The), Class A
  6,949   272,609
News Corp., Class A
  23,851   292,175
Nexstar Media Group, Inc., Class A
  3,229   269,008
Omnicom Group, Inc.
  3,876   212,366
Roku, Inc.(b)
  2,782   304,657
Sinclair Broadcast Group, Inc., Class A
  13,384   250,147
Sirius XM Holdings, Inc.
  39,560   230,239
Spotify Technology S.A.(b)
  1,723   311,742
Take-Two Interactive Software, Inc.(b)
  2,348   319,727
Telephone & Data Systems, Inc.
  52,230   1,070,193
T-Mobile US, Inc.(b)
  20,682   2,069,027
TripAdvisor, Inc.
  14,724   283,879
Twitter, Inc.(b)
  9,517   294,741
United States Cellular Corp.(b)
  31,502   992,628
Verizon Communications, Inc.
  15,618   896,161
ViacomCBS, Inc., Class B
  13,640   282,894
Walt Disney Co. (The)
  2,397   281,168
World Wrestling Entertainment, Inc., Class A(c)
  6,777   313,572
Zillow Group, Inc., Class C(b)(c)
  3,978   230,684
Zynga, Inc., Class A(b)
  42,223   386,340
        19,334,177
Consumer Discretionary-8.18%
Advance Auto Parts, Inc.
  1,999   278,501
Amazon.com, Inc.(b)
  140   341,932
Aptiv PLC
  3,701   278,870
Aramark
  9,047   234,227
AutoNation, Inc.(b)
  6,702   264,595
AutoZone, Inc.(b)
  232   266,304
Best Buy Co., Inc.
  3,969   309,939
  Shares   Value
Consumer Discretionary-(continued)
Booking Holdings, Inc.(b)
  174   $285,259
BorgWarner, Inc.
  8,921   286,810
Bright Horizons Family Solutions, Inc.(b)
  1,873   209,551
Brunswick Corp.
  5,982   329,070
Burlington Stores, Inc.(b)
  1,247   261,458
Caesars Entertainment Corp.(b)
  27,878   317,530
Capri Holdings Ltd.(b)
  15,330   230,563
CarMax, Inc.(b)
  3,248   285,986
Carnival Corp.
  14,706   231,472
Carter’s, Inc.
  3,003   257,988
Carvana Co.(b)(c)
  4,888   454,486
Chipotle Mexican Grill, Inc.(b)
  380   381,486
Choice Hotels International, Inc.
  3,047   246,289
Columbia Sportswear Co.
  3,418   249,719
D.R. Horton, Inc.
  5,613   310,399
Darden Restaurants, Inc.
  3,718   285,765
Dick’s Sporting Goods, Inc.
  8,135   293,348
Dollar General Corp.
  1,543   295,500
Dollar Tree, Inc.(b)
  3,118   305,159
Domino’s Pizza, Inc.
  713   275,104
Dunkin’ Brands Group, Inc.
  4,047   258,482
eBay, Inc.
  6,662   303,387
Etsy, Inc.(b)
  4,987   403,847
Expedia Group, Inc.
  3,372   268,007
Extended Stay America, Inc.
  33,258   382,467
Five Below, Inc.(b)
  3,045   318,659
Floor & Decor Holdings, Inc., Class A(b)
  5,696   296,192
Foot Locker, Inc.
  10,218   283,039
Ford Motor Co.
  41,107   234,721
frontdoor, Inc.(b)
  6,007   274,220
Gap, Inc. (The)
  21,854   194,501
Garmin Ltd.
  3,032   273,395
General Motors Co.
  9,545   247,025
Gentex Corp.
  9,455   249,990
Genuine Parts Co.
  2,786   232,380
Goodyear Tire & Rubber Co. (The)
  34,408   261,845
Graham Holdings Co., Class B
  547   195,952
Grand Canyon Education, Inc.(b)
  3,052   297,845
Grubhub, Inc.(b)
  7,186   407,734
H&R Block, Inc.
  13,980   237,660
Hanesbrands, Inc.
  23,655   233,238
Harley-Davidson, Inc.
  10,791   230,280
Hasbro, Inc.
  4,105   301,759
Hilton Grand Vacations, Inc.(b)
  13,912   299,664
Hilton Worldwide Holdings, Inc.
  2,859   226,747
Home Depot, Inc. (The)
  1,168   290,225
Hyatt Hotels Corp., Class A
  4,203   231,543
International Game Technology PLC
  36,285   305,883
Kohl’s Corp.
  9,559   183,724
L Brands, Inc.
  13,898   225,009
Las Vegas Sands Corp.
  4,973   238,406
Lear Corp.
  2,541   269,473
Leggett & Platt, Inc.
  7,393   226,152
Lennar Corp., Class A
  4,733   286,157
LKQ Corp.(b)
  9,223   253,264
Lowe’s Cos., Inc.
  2,455   320,009
lululemon athletica, inc.(b)
  1,297   389,223
Macy’s, Inc.(c)
  29,814   189,617
Marriott International, Inc., Class A
  2,341   207,179
Mattel, Inc.(b)
  27,838   256,388
McDonald’s Corp.
  1,288   239,980
MGM Resorts International
  14,425   247,822
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
Mohawk Industries, Inc.(b)
  2,248   $209,514
Newell Brands, Inc.
  19,478   256,136
NIKE, Inc., Class B
  2,971   292,881
Nordstrom, Inc.(c)
  11,051   178,253
Norwegian Cruise Line Holdings Ltd.(b)(c)
  22,788   356,860
NVR, Inc.(b)
  86   277,058
Ollie’s Bargain Outlet Holdings, Inc.(b)
  5,586   510,840
O’Reilly Automotive, Inc.(b)
  684   285,392
Penske Automotive Group, Inc.
  6,388   228,435
Planet Fitness, Inc., Class A(b)
  4,557   294,519
Polaris, Inc.
  3,639   317,830
Pool Corp.
  1,193   320,941
PulteGroup, Inc.
  7,221   245,297
PVH Corp.
  4,960   225,531
Qurate Retail, Inc., Class A(b)
  49,524   407,830
Ralph Lauren Corp.
  2,776   209,616
Ross Stores, Inc.
  2,411   233,771
Royal Caribbean Cruises Ltd.
  7,281   377,665
Service Corp. International
  5,171   203,893
ServiceMaster Global Holdings, Inc.(b)
  7,312   240,565
Six Flags Entertainment Corp.
  16,292   374,390
Skechers U.S.A., Inc., Class A(b)
  8,619   269,947
Starbucks Corp.
  3,555   277,254
Tapestry, Inc.
  14,661   199,390
Target Corp.
  2,373   290,289
Tempur Sealy International, Inc.(b)
  4,129   269,335
Tesla, Inc.(b)
  401   334,835
Thor Industries, Inc.
  4,809   414,536
Tiffany & Co.
  1,716   219,871
TJX Cos., Inc. (The)
  4,448   234,676
Toll Brothers, Inc.
  8,138   262,939
Tractor Supply Co.
  2,868   349,953
Ulta Beauty, Inc.(b)
  1,115   272,071
Under Armour, Inc., Class A(b)(c)
  22,679   198,441
Urban Outfitters, Inc.(b)
  15,032   254,642
Vail Resorts, Inc.
  1,503   298,090
VF Corp.
  3,973   222,885
Wayfair, Inc., Class A(b)(c)
  6,669   1,144,067
Wendy’s Co. (The)(c)
  14,084   299,426
Whirlpool Corp.
  2,142   260,938
Williams-Sonoma, Inc.
  5,168   430,029
Wyndham Destinations, Inc.
  8,351   265,562
Wyndham Hotels & Resorts, Inc.
  6,106   280,449
Wynn Resorts Ltd.
  3,241   269,910
Yum China Holdings, Inc. (China)
  5,609   259,921
Yum! Brands, Inc.
  2,786   249,988
        32,917,061
Consumer Staples-10.48%
Altria Group, Inc.
  19,318   754,368
Archer-Daniels-Midland Co.
  22,319   877,360
Beyond Meat, Inc.(b)(c)
  9,666   1,240,051
Brown-Forman Corp., Class B
  14,088   928,822
Bunge Ltd.
  19,477   759,993
Campbell Soup Co.
  14,747   751,802
Casey’s General Stores, Inc.
  4,840   773,093
Church & Dwight Co., Inc.
  11,092   832,676
Clorox Co. (The)
  4,474   922,763
Coca-Cola Co. (The)
  14,933   697,072
Colgate-Palmolive Co.
  11,276   815,593
Conagra Brands, Inc.
  29,151   1,014,163
Constellation Brands, Inc., Class A
  5,362   926,017
Costco Wholesale Corp.
  784   241,840
  Shares   Value
Consumer Staples-(continued)
Coty, Inc., Class A
  34,894   $126,665
Energizer Holdings, Inc.(c)
  17,542   769,743
Estee Lauder Cos., Inc. (The), Class A
  1,409   278,235
Flowers Foods, Inc.
  34,318   809,562
General Mills, Inc.
  14,078   887,477
Grocery Outlet Holding Corp.(b)
  24,230   891,906
Hain Celestial Group, Inc. (The)(b)
  34,964   1,100,667
Herbalife Nutrition Ltd.(b)
  28,626   1,254,964
Hershey Co. (The)
  5,296   718,561
Hormel Foods Corp.
  17,567   857,797
Ingredion, Inc.
  10,130   853,250
JM Smucker Co. (The)
  7,260   827,132
Kellogg Co.
  12,078   788,814
Keurig Dr Pepper, Inc.
  30,614   854,743
Kimberly-Clark Corp.
  5,813   822,191
Kraft Heinz Co. (The)
  35,094   1,069,314
Kroger Co. (The)
  24,173   788,523
Lamb Weston Holdings, Inc.
  11,103   666,846
McCormick & Co., Inc.
  5,373   941,135
Molson Coors Beverage Co., Class B
  18,331   695,845
Mondelez International, Inc., Class A
  14,807   771,741
Monster Beverage Corp.(b)
  12,272   882,480
Nu Skin Enterprises, Inc., Class A
  38,057   1,414,959
PepsiCo, Inc.
  6,101   802,587
Philip Morris International, Inc.
  9,730   713,793
Pilgrim’s Pride Corp.(b)
  41,135   850,260
Post Holdings, Inc.(b)
  8,685   756,116
Procter & Gamble Co. (The)
  6,912   801,239
Reynolds Consumer Products, Inc.
  8,775   292,997
Seaboard Corp.
  236   693,840
Spectrum Brands Holdings, Inc.
  17,130   810,592
Sprouts Farmers Market, Inc.(b)
  53,701   1,349,506
Sysco Corp.
  16,175   892,213
TreeHouse Foods, Inc.(b)
  20,428   1,076,760
Tyson Foods, Inc., Class A
  13,595   835,277
US Foods Holding Corp.(b)
  35,106   671,929
Walgreens Boots Alliance, Inc.
  17,145   736,206
Walmart, Inc.
  2,113   262,139
        42,153,617
Energy-13.03%
Antero Midstream Corp.(c)
  265,819   1,270,615
Antero Resources Corp.(b)(c)
  717,915   2,146,566
Apache Corp.
  102,420   1,105,112
Apergy Corp.(b)(c)
  119,825   1,086,813
Baker Hughes Co., Class A
  74,285   1,226,445
Cabot Oil & Gas Corp.
  49,741   986,861
Cheniere Energy, Inc.(b)
  22,127   981,332
Chevron Corp.
  10,439   957,256
Cimarex Energy Co.
  52,460   1,378,649
Concho Resources, Inc.
  20,103   1,096,016
ConocoPhillips
  28,213   1,190,024
Continental Resources, Inc.(c)
  99,804   1,220,603
Devon Energy Corp.
  109,220   1,180,668
Diamondback Energy, Inc.
  31,002   1,320,065
EOG Resources, Inc.
  24,416   1,244,484
EQT Corp.
  114,071   1,521,707
Equitrans Midstream Corp.(c)
  186,383   1,507,839
Exxon Mobil Corp.
  21,044   956,871
Halliburton Co.
  123,873   1,455,508
Helmerich & Payne, Inc.
  49,969   1,005,876
Hess Corp.
  24,186   1,148,109
HollyFrontier Corp.
  40,899   1,286,274
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Energy-(continued)
Kinder Morgan, Inc.
  56,408   $891,246
Kosmos Energy Ltd. (Ghana)
  697,561   1,269,561
Marathon Oil Corp.
  199,849   1,067,194
Marathon Petroleum Corp.
  34,768   1,221,748
Murphy Oil Corp.(c)
  123,464   1,475,395
National Oilwell Varco, Inc.
  91,375   1,139,446
Noble Energy, Inc.
  126,804   1,106,999
Occidental Petroleum Corp.
  65,765   851,657
ONEOK, Inc.
  27,996   1,027,173
Parsley Energy, Inc., Class A
  138,463   1,265,552
Patterson-UTI Energy, Inc.
  374,796   1,382,997
PBF Energy, Inc., Class A
  72,477   769,706
Phillips 66
  17,128   1,340,437
Pioneer Natural Resources Co.
  13,004   1,191,166
Range Resources Corp.(c)
  380,005   2,276,230
Schlumberger Ltd.
  55,250   1,020,468
Targa Resources Corp.
  71,414   1,277,596
Transocean Ltd.(b)(c)
  583,487   776,038
Valero Energy Corp.
  18,078   1,204,718
Williams Cos., Inc. (The)
  59,773   1,221,162
WPX Energy, Inc.(b)
  239,714   1,359,178
        52,409,360
Financials-5.76%
Affiliated Managers Group, Inc.
  2,788   185,737
Aflac, Inc.
  4,496   163,969
AGNC Investment Corp.
  12,235   158,321
Alleghany Corp.
  269   138,024
Allstate Corp. (The)
  1,700   166,277
Ally Financial, Inc.
  7,226   126,021
American Express Co.
  1,706   162,189
American Financial Group, Inc.
  1,980   119,275
American International Group, Inc.
  5,496   165,210
American National Insurance Co.
  1,845   138,652
Ameriprise Financial, Inc.
  1,520   212,906
Annaly Capital Management, Inc.
  21,293   131,165
Aon PLC, Class A
  817   160,908
Arch Capital Group Ltd.(b)
  4,620   130,376
Arthur J. Gallagher & Co.
  1,647   155,279
Associated Banc-Corp.
  11,016   154,334
Assurant, Inc.
  1,453   149,049
Assured Guaranty Ltd.
  4,372   113,366
Athene Holding Ltd., Class A(b)
  5,740   165,829
AXIS Capital Holdings Ltd.
  3,392   127,336
Bank of America Corp.
  6,889   166,163
Bank of Hawaii Corp.
  2,445   157,287
Bank of New York Mellon Corp. (The)
  4,790   178,044
Bank OZK
  7,329   164,829
BankUnited, Inc.
  6,147   113,597
Berkshire Hathaway, Inc., Class B(b)
  804   149,206
BGC Partners, Inc., Class A
  38,828   99,982
BlackRock, Inc.
  381   201,412
BOK Financial Corp.
  3,320   169,121
Brighthouse Financial, Inc.(b)
  7,077   210,258
Brown & Brown, Inc.
  3,766   151,393
Capital One Financial Corp.
  2,235   152,069
Cboe Global Markets, Inc.
  1,500   159,690
Charles Schwab Corp. (The)
  4,961   178,150
Chimera Investment Corp.(c)
  9,320   77,449
Chubb Ltd.
  1,193   145,474
Cincinnati Financial Corp.
  1,739   102,514
CIT Group, Inc.
  6,852   124,295
Citigroup, Inc.
  3,279   157,097
  Shares   Value
Financials-(continued)
Citizens Financial Group, Inc.
  6,653   $160,337
CME Group, Inc., Class A
  824   150,462
CNA Financial Corp.
  4,221   127,601
Comerica, Inc.
  4,053   147,327
Commerce Bancshares, Inc.
  2,783   177,361
Credit Acceptance Corp.(b)(c)
  398   147,188
Cullen/Frost Bankers, Inc.
  2,663   202,308
Discover Financial Services
  3,144   149,371
E*TRADE Financial Corp.
  4,589   208,983
East West Bancorp, Inc.
  4,742   165,733
Eaton Vance Corp.
  4,902   176,717
Equitable Holdings, Inc.
  9,981   190,737
Erie Indemnity Co., Class A
  1,042   187,810
Evercore, Inc., Class A
  3,237   178,391
Everest Re Group Ltd.
  735   145,831
F.N.B. Corp.
  18,683   138,441
FactSet Research Systems, Inc.
  617   189,734
Fidelity National Financial, Inc.
  4,039   128,844
Fifth Third Bancorp
  8,879   172,164
First American Financial Corp.
  2,604   131,476
First Citizens BancShares, Inc., Class A
  445   171,325
First Hawaiian, Inc.
  8,004   138,069
First Horizon National Corp.
  15,976   149,376
First Republic Bank
  1,620   175,235
Franklin Resources, Inc.
  8,423   158,942
Globe Life, Inc.
  2,229   171,678
Goldman Sachs Group, Inc. (The)
  978   192,167
Hanover Insurance Group, Inc. (The)
  1,486   149,120
Hartford Financial Services Group, Inc. (The)
  3,527   135,049
Huntington Bancshares, Inc.
  16,848   149,779
Interactive Brokers Group, Inc., Class A
  3,406   144,244
Intercontinental Exchange, Inc.
  1,871   181,955
Invesco Ltd.(d)
  14,969   119,303
Janus Henderson Group PLC (United Kingdom)
  9,646   207,968
Jefferies Financial Group, Inc.
  9,482   138,911
JPMorgan Chase & Co.
  1,607   156,377
Kemper Corp.
  2,121   134,471
KeyCorp
  13,002   154,074
Lazard Ltd., Class A
  5,745   154,311
Legg Mason, Inc.
  2,948   146,899
LendingTree, Inc.(b)(c)
  648   168,493
Lincoln National Corp.
  6,040   229,097
Loews Corp.
  4,260   141,602
LPL Financial Holdings, Inc.
  2,787   198,964
M&T Bank Corp.
  1,390   146,867
Markel Corp.(b)
  153   137,305
MarketAxess Holdings, Inc.
  468   238,020
Marsh & McLennan Cos., Inc.
  1,509   159,833
Mercury General Corp.
  3,899   156,857
MetLife, Inc.
  4,987   179,582
MFA Financial, Inc.
  23,455   39,639
MGIC Investment Corp.
  14,619   120,022
Moody’s Corp.
  721   192,803
Morgan Stanley
  4,515   199,563
Morningstar, Inc.
  1,213   185,977
MSCI, Inc.
  554   182,183
Nasdaq, Inc.
  1,595   188,944
Navient Corp.
  17,488   130,111
New Residential Investment Corp.
  12,168   87,245
New York Community Bancorp, Inc.
  14,584   146,569
Northern Trust Corp.
  2,252   177,931
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Financials-(continued)
Old Republic International Corp.
  8,499   $132,499
OneMain Holdings, Inc.
  4,897   114,247
PacWest Bancorp
  6,495   112,428
People’s United Financial, Inc.
  12,588   144,133
Pinnacle Financial Partners, Inc.
  3,521   140,312
PNC Financial Services Group, Inc. (The)
  1,477   168,437
Popular, Inc.
  4,211   166,292
Primerica, Inc.
  1,581   179,665
Principal Financial Group, Inc.
  4,569   176,455
Progressive Corp. (The)
  2,016   156,603
Prosperity Bancshares, Inc.
  2,826   184,792
Prudential Financial, Inc.
  3,042   185,440
Raymond James Financial, Inc.
  2,315   160,383
Regions Financial Corp.
  14,951   169,096
Reinsurance Group of America, Inc.
  1,717   155,818
RenaissanceRe Holdings Ltd. (Bermuda)
  964   161,817
S&P Global, Inc.
  654   212,563
Santander Consumer USA Holdings, Inc.(c)
  7,584   125,364
SEI Investments Co.
  3,048   165,263
Signature Bank
  1,544   158,893
SLM Corp.
  17,463   132,370
Starwood Property Trust, Inc.
  8,243   109,302
State Street Corp.
  2,940   179,222
Sterling Bancorp
  12,302   151,315
SVB Financial Group(b)
  1,027   220,548
Synchrony Financial
  6,505   132,507
Synovus Financial Corp.
  7,412   142,236
T. Rowe Price Group, Inc.
  1,533   185,340
TCF Financial Corp.
  5,854   169,298
TD Ameritrade Holding Corp.
  4,911   183,033
Texas Capital Bancshares, Inc.(b)
  4,700   125,772
TFS Financial Corp.
  8,166   125,838
Travelers Cos., Inc. (The)
  1,392   148,916
Truist Financial Corp.
  4,662   171,468
Two Harbors Investment Corp.
  15,262   68,984
U.S. Bancorp
  4,465   158,775
Umpqua Holdings Corp.
  13,405   152,683
Unum Group
  10,425   157,939
Virtu Financial, Inc., Class A
  6,228   148,538
Voya Financial, Inc.
  3,490   157,224
W.R. Berkley Corp.
  2,760   159,942
Webster Financial Corp.
  5,242   148,349
Wells Fargo & Co.
  5,180   137,115
Western Alliance Bancorporation
  4,830   184,264
White Mountains Insurance Group Ltd.
  180   164,801
Willis Towers Watson PLC
  821   166,581
Wintrust Financial Corp.
  4,015   170,075
Zions Bancorporation N.A.
  5,132   168,868
        23,187,732
Health Care-12.27%
Abbott Laboratories
  4,580   434,734
AbbVie, Inc.
  6,065   562,044
ABIOMED, Inc.(b)
  2,510   561,989
Acadia Healthcare Co., Inc.(b)
  17,440   498,958
Adaptive Biotechnologies Corp.(b)
  19,317   747,568
Agilent Technologies, Inc.
  5,399   475,868
Agios Pharmaceuticals, Inc.(b)
  9,579   495,617
Alexion Pharmaceuticals, Inc.(b)
  4,446   533,075
Align Technology, Inc.(b)
  1,903   467,415
Alkermes PLC(b)
  23,013   376,493
Alnylam Pharmaceuticals, Inc.(b)
  3,662   495,359
AmerisourceBergen Corp.
  4,245   404,718
  Shares   Value
Health Care-(continued)
Amgen, Inc.
  1,878   $431,377
Anthem, Inc.
  1,335   392,637
Avantor, Inc.(b)
  30,843   585,092
Baxter International, Inc.
  4,530   407,745
Becton, Dickinson and Co.
  1,543   381,013
Biogen, Inc.(b)
  1,293   397,067
BioMarin Pharmaceutical, Inc.(b)
  4,445   473,615
Bio-Rad Laboratories, Inc., Class A(b)
  1,069   525,221
Bio-Techne Corp.
  2,118   560,846
Bluebird Bio, Inc.(b)
  6,918   440,192
Boston Scientific Corp.(b)
  11,003   418,004
Bristol-Myers Squibb Co.
  6,493   387,762
Bruker Corp.
  9,576   414,449
Cantel Medical Corp.
  7,649   321,870
Cardinal Health, Inc.
  8,075   441,622
Catalent, Inc.(b)
  7,773   604,195
Centene Corp.(b)
  5,962   394,982
Cerner Corp.
  5,279   384,839
Change Healthcare, Inc.(b)
  33,794   421,749
Charles River Laboratories International, Inc.(b)
  2,767   497,119
Chemed Corp.
  914   437,358
Cigna Corp.
  2,074   409,242
Cooper Cos., Inc. (The)
  1,246   394,957
Covetrus, Inc.(b)
  33,850   517,228
CVS Health Corp.
  13,170   863,557
Danaher Corp.
  2,651   441,683
DaVita, Inc.(b)
  5,001   404,881
DENTSPLY SIRONA, Inc.
  8,566   398,490
DexCom, Inc.(b)
  1,388   525,094
Edwards Lifesciences Corp.(b)
  1,822   409,440
Elanco Animal Health, Inc.(b)
  16,023   343,052
Eli Lilly and Co.
  2,720   416,024
Encompass Health Corp.
  5,784   423,678
Envista Holdings Corp.(b)
  18,751   396,396
Exact Sciences Corp.(b)
  6,632   569,556
Exelixis, Inc.(b)
  22,392   553,306
Gilead Sciences, Inc.
  4,973   387,049
Guardant Health, Inc.(b)
  5,107   461,622
HCA Healthcare, Inc.
  3,353   358,436
Henry Schein, Inc.(b)
  6,220   377,678
Hill-Rom Holdings, Inc.
  4,110   417,864
Hologic, Inc.(b)
  8,649   458,397
Horizon Therapeutics PLC(b)
  12,674   642,952
Humana, Inc.
  1,182   485,388
ICU Medical, Inc.(b)
  1,929   385,067
IDEXX Laboratories, Inc.(b)
  1,432   442,316
Illumina, Inc.(b)
  1,555   564,543
Incyte Corp.(b)
  5,020   511,588
Insulet Corp.(b)
  2,053   387,134
Integra LifeSciences Holdings Corp.(b)
  8,140   424,175
Intuitive Surgical, Inc.(b)
  764   443,143
Ionis Pharmaceuticals, Inc.(b)
  7,709   433,323
IQVIA Holdings, Inc.(b)
  3,038   454,242
Jazz Pharmaceuticals PLC(b)
  3,280   391,370
Johnson & Johnson
  2,734   406,682
Laboratory Corp. of America Holdings(b)
  2,511   440,229
Masimo Corp.(b)
  1,911   459,003
McKesson Corp.
  5,689   902,674
MEDNAX, Inc.(b)
  28,172   437,511
Medtronic PLC
  4,058   400,038
Merck & Co., Inc.
  4,600   371,312
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Health Care-(continued)
Mettler-Toledo International, Inc.(b)
  463   $368,085
Moderna, Inc.(b)(c)
  15,311   941,626
Molina Healthcare, Inc.(b)
  2,624   487,592
Mylan N.V.(b)
  25,770   439,894
Nektar Therapeutics(b)
  21,204   460,127
Neurocrine Biosciences, Inc.(b)
  4,217   526,113
Penumbra, Inc.(b)
  2,068   356,565
PerkinElmer, Inc.
  4,859   488,184
Perrigo Co. PLC
  8,390   459,520
Pfizer, Inc.
  11,377   434,488
PPD, Inc.(b)
  15,767   429,493
PRA Health Sciences, Inc.(b)
  4,255   440,392
Premier, Inc., Class A(b)
  11,262   391,805
QIAGEN N.V.(b)
  8,612   377,119
Quest Diagnostics, Inc.
  3,788   448,045
Regeneron Pharmaceuticals, Inc.(b)
  790   484,120
ResMed, Inc.
  2,518   404,945
Sage Therapeutics, Inc.(b)
  9,853   351,949
Sarepta Therapeutics, Inc.(b)
  3,614   550,304
Seattle Genetics, Inc.(b)
  3,532   555,266
STERIS PLC
  2,600   431,314
Stryker Corp.
  2,228   436,086
Teleflex, Inc.
  1,161   421,280
Thermo Fisher Scientific, Inc.
  1,224   427,409
United Therapeutics Corp.(b)
  3,965   467,672
UnitedHealth Group, Inc.
  1,370   417,644
Universal Health Services, Inc., Class B
  3,420   360,639
Varian Medical Systems, Inc.(b)
  3,291   399,494
Veeva Systems, Inc., Class A(b)
  2,609   571,032
Vertex Pharmaceuticals, Inc.(b)
  1,687   485,789
Waters Corp.(b)
  1,776   354,934
West Pharmaceutical Services, Inc.
  2,394   517,200
Zimmer Biomet Holdings, Inc.
  3,334   421,218
Zoetis, Inc.
  2,829   394,334
        49,384,589
Industrials-11.99%
3M Co.
  2,186   341,978
A.O. Smith Corp.
  12,977   616,407
Acuity Brands, Inc.
  5,697   490,797
ADT, Inc.(c)
  60,211   426,294
AECOM(b)
  9,409   364,787
AGCO Corp.
  5,774   318,898
Air Lease Corp.
  12,968   390,466
Alaska Air Group, Inc.
  8,300   283,777
Allegion PLC
  2,797   278,861
Allison Transmission Holdings, Inc.
  8,950   337,594
AMERCO
  828   267,030
American Airlines Group, Inc.(c)
  21,604   226,842
AMETEK, Inc.
  4,316   395,820
Armstrong World Industries, Inc.
  6,173   465,382
Boeing Co. (The)
  1,882   274,490
BWX Technologies, Inc.
  5,818   364,032
C.H. Robinson Worldwide, Inc.
  4,847   393,237
Carlisle Cos., Inc.
  2,446   293,178
Carrier Global Corp.(b)
  2,825   57,828
Caterpillar, Inc.
  3,148   378,169
Cintas Corp.
  1,283   318,133
Clean Harbors, Inc.(b)
  5,498   326,526
Colfax Corp.(b)
  13,620   382,177
Copa Holdings S.A., Class A (Panama)
  5,841   256,186
Copart, Inc.(b)
  4,221   377,315
CoreLogic, Inc.
  3,307   163,895
  Shares   Value
Industrials-(continued)
CoStar Group, Inc.(b)
  485   $318,548
Crane Co.
  5,752   320,501
CSX Corp.
  5,432   388,823
Cummins, Inc.
  2,247   381,091
Curtiss-Wright Corp.
  3,396   340,619
Deere & Co.
  2,246   341,662
Delta Air Lines, Inc.
  8,612   217,109
Donaldson Co., Inc.
  7,232   343,158
Dover Corp.
  3,391   329,775
Eaton Corp. PLC
  3,842   326,186
Emerson Electric Co.
  6,288   383,694
Equifax, Inc.
  1,041   159,856
Expeditors International of Washington, Inc.
  4,677   357,182
Fastenal Co.
  16,297   672,414
FedEx Corp.
  3,010   392,986
Flowserve Corp.
  11,374   296,861
Fluor Corp.
  46,508   539,958
Fortive Corp.
  5,206   317,462
Fortune Brands Home & Security, Inc.
  4,631   282,306
Gates Industrial Corp. PLC(b)
  36,302   364,835
General Dynamics Corp.
  2,211   324,641
General Electric Co.
  40,210   264,180
Graco, Inc.
  6,776   326,671
GrafTech International Ltd.(c)
  80,431   550,148
HD Supply Holdings, Inc.(b)
  9,668   306,572
HEICO Corp.
  3,577   360,419
Hexcel Corp.
  10,373   375,399
Honeywell International, Inc.
  2,162   315,328
Howmet Aerospace, Inc.
  25,704   336,208
Hubbell, Inc.
  2,730   334,207
Huntington Ingalls Industries, Inc.
  1,655   330,818
IAA, Inc.(b)
  6,487   265,967
IDEX Corp.
  2,358   375,794
IHS Markit Ltd.
  4,828   335,353
Illinois Tool Works, Inc.
  2,067   356,475
Ingersoll Rand, Inc.(b)
  13,642   384,704
ITT, Inc.
  6,758   389,937
J.B. Hunt Transport Services, Inc.
  3,494   418,127
Jacobs Engineering Group, Inc.
  3,670   308,353
JetBlue Airways Corp.(b)
  25,302   254,791
Johnson Controls International PLC
  9,526   299,212
Kansas City Southern
  2,522   379,611
KAR Auction Services, Inc.
  13,156   188,789
Kirby Corp.(b)
  7,404   379,677
Knight-Swift Transportation Holdings, Inc.
  10,186   423,839
L3Harris Technologies, Inc.
  1,528   304,760
Landstar System, Inc.
  3,217   374,008
Lennox International, Inc.
  2,418   517,065
Lincoln Electric Holdings, Inc.
  4,222   346,922
Lockheed Martin Corp.
  950   369,018
Lyft, Inc., Class A(b)
  9,198   287,529
Macquarie Infrastructure Corp.
  10,561   299,827
ManpowerGroup, Inc.
  4,553   314,794
Masco Corp.
  13,437   626,836
Middleby Corp. (The)(b)
  3,867   263,343
MSC Industrial Direct Co., Inc., Class A
  5,528   383,312
Nielsen Holdings PLC
  16,116   223,851
Nordson Corp.
  2,509   472,570
Norfolk Southern Corp.
  2,187   389,920
Northrop Grumman Corp.
  1,021   342,239
nVent Electric PLC
  17,332   317,696
Old Dominion Freight Line, Inc.
  2,599   444,663
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
Oshkosh Corp.
  4,972   $357,089
Otis Worldwide Corp.
  1,417   74,605
Owens Corning
  12,525   657,562
PACCAR, Inc.
  4,903   362,136
Parker-Hannifin Corp.
  2,246   404,213
Pentair PLC
  8,621   337,426
Quanta Services, Inc.
  9,823   362,763
Raytheon Technologies Corp.
  7,667   494,675
Regal Beloit Corp.
  4,602   366,043
Republic Services, Inc.
  3,645   311,502
Resideo Technologies, Inc.(b)
  42,528   300,248
Robert Half International, Inc.
  6,683   339,095
Rockwell Automation, Inc.
  1,956   422,809
Rollins, Inc.
  6,403   267,645
Roper Technologies, Inc.
  1,022   402,464
Ryder System, Inc.
  10,182   348,835
Schneider National, Inc., Class B
  17,389   420,292
Sensata Technologies Holding PLC(b)
  8,769   312,615
Snap-on, Inc.
  2,457   318,648
Southwest Airlines Co.
  8,078   259,304
Spirit AeroSystems Holdings, Inc., Class A
  8,607   186,514
Stanley Black & Decker, Inc.
  2,785   349,378
Stericycle, Inc.(b)
  5,941   325,745
Teledyne Technologies, Inc.(b)
  1,060   396,567
Textron, Inc.
  11,595   359,097
Timken Co. (The)
  15,925   677,449
Toro Co. (The)
  4,366   310,292
Trane Technologies PLC
  5,206   469,633
TransDigm Group, Inc.
  734   311,818
TransUnion
  1,963   169,387
Trinity Industries, Inc.
  18,067   360,798
Uber Technologies, Inc.(b)
  9,714   352,812
Union Pacific Corp.
  2,215   376,240
United Airlines Holdings, Inc.(b)
  7,826   219,441
United Parcel Service, Inc., Class B
  3,364   335,424
United Rentals, Inc.(b)
  3,501   486,254
Univar Solutions, Inc.(b)
  46,936   725,631
Valmont Industries, Inc.
  5,623   641,022
Verisk Analytics, Inc.
  2,079   359,002
W.W. Grainger, Inc.
  1,192   369,067
Wabtec Corp.
  5,443   332,404
Waste Management, Inc.
  2,984   318,542
Watsco, Inc.
  3,277   583,011
WESCO International, Inc.(b)
  11,389   379,254
Woodward, Inc.
  3,888   266,639
XPO Logistics, Inc.(b)
  5,228   412,019
Xylem, Inc.
  4,484   297,469
        48,219,576
Information Technology-13.39%
2U, Inc.(b)
  8,824   321,811
Accenture PLC, Class A
  1,914   385,901
Adobe, Inc.(b)
  910   351,806
Advanced Micro Devices, Inc.(b)
  6,523   350,937
Akamai Technologies, Inc.(b)
  3,186   337,079
Alliance Data Systems Corp.
  3,033   140,519
Alteryx, Inc., Class A(b)
  2,678   385,471
Amdocs Ltd.
  4,560   283,906
Amphenol Corp., Class A
  3,387   327,049
Analog Devices, Inc.
  2,820   318,519
Anaplan, Inc.(b)
  7,200   330,624
ANSYS, Inc.(b)
  1,274   360,542
Apple, Inc.
  1,022   324,935
  Shares   Value
Information Technology-(continued)
Applied Materials, Inc.
  5,665   $318,260
Arista Networks, Inc.(b)
  1,562   364,665
Arrow Electronics, Inc.(b)
  4,827   333,449
Aspen Technology, Inc.(b)
  2,877   303,926
Atlassian Corp. PLC, Class A(b)
  2,028   375,788
Autodesk, Inc.(b)
  1,878   395,094
Automatic Data Processing, Inc.
  2,248   329,310
Avalara, Inc.(b)
  3,802   407,042
Avnet, Inc.
  10,879   296,344
Bill.Com Holdings, Inc.(b)(c)
  3,533   246,038
Black Knight, Inc.(b)
  4,115   316,773
Booz Allen Hamilton Holding Corp.
  4,371   348,631
Broadcom, Inc.
  1,181   343,990
Broadridge Financial Solutions, Inc.
  1,459   176,685
CACI International, Inc., Class A(b)
  1,309   328,271
Cadence Design Systems, Inc.(b)
  4,474   408,431
CDK Global, Inc.
  6,698   263,298
CDW Corp.
  2,778   308,108
Cerence, Inc.(b)
  15,453   462,199
Ceridian HCM Holding, Inc.(b)
  5,236   360,603
Ciena Corp.(b)
  7,330   405,056
Cisco Systems, Inc.
  7,678   367,162
Citrix Systems, Inc.
  2,433   360,376
Cognex Corp.
  6,527   370,342
Cognizant Technology Solutions Corp., Class A
  5,192   275,176
Coherent, Inc.(b)
  2,410   349,956
CommScope Holding Co., Inc.(b)
  38,235   394,203
Corning, Inc.
  12,455   283,849
Coupa Software, Inc.(b)
  2,215   503,935
Cree, Inc.(b)
  8,746   460,827
Dell Technologies, Inc., Class C(b)
  7,803   387,341
DocuSign, Inc.(b)
  3,713   518,855
Dolby Laboratories, Inc., Class A
  4,761   289,136
Dropbox, Inc., Class A(b)
  16,262   367,033
DXC Technology Co.
  18,971   269,578
Dynatrace, Inc.(b)
  11,523   443,290
EchoStar Corp., Class A(b)
  8,665   270,001
Elastic N.V.(b)
  5,219   448,416
Entegris, Inc.
  6,008   359,759
EPAM Systems, Inc.(b)
  1,556   358,876
Euronet Worldwide, Inc.(b)
  1,661   157,347
F5 Networks, Inc.(b)
  2,584   374,473
Fair Isaac Corp.(b)
  503   202,533
Fidelity National Information Services, Inc.
  1,187   164,791
FireEye, Inc.(b)
  25,388   316,842
First Solar, Inc.(b)
  21,805   1,016,549
Fiserv, Inc.(b)
  1,474   157,379
FleetCor Technologies, Inc.(b)
  667   162,608
FLIR Systems, Inc.
  9,382   433,448
Fortinet, Inc.(b)
  3,351   466,459
Gartner, Inc.(b)
  2,507   305,102
Genpact Ltd.
  9,279   333,580
Global Payments, Inc.
  915   164,233
GoDaddy, Inc., Class A(b)
  4,906   378,989
Guidewire Software, Inc.(b)
  3,306   339,129
Hewlett Packard Enterprise Co.
  27,965   271,540
HP, Inc.
  14,559   220,423
HubSpot, Inc.(b)
  2,075   414,876
Intel Corp.
  5,603   352,597
International Business Machines Corp.
  2,493   311,376
Intuit, Inc.
  1,073   311,513
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
IPG Photonics Corp.(b)
  2,412   $374,825
Jabil, Inc.
  10,863   325,021
Jack Henry & Associates, Inc.
  927   167,657
Juniper Networks, Inc.
  13,284   322,270
Keysight Technologies, Inc.(b)
  3,543   383,105
KLA Corp.
  2,021   355,615
Lam Research Corp.
  1,074   293,922
Leidos Holdings, Inc.
  2,980   313,764
Littelfuse, Inc.
  2,254   366,252
LogMeIn, Inc.
  3,166   268,793
Manhattan Associates, Inc.(b)
  4,629   409,204
Marvell Technology Group Ltd.
  13,042   425,430
Mastercard, Inc., Class A
  593   178,428
Maxim Integrated Products, Inc.
  5,704   329,007
Medallia, Inc.(b)
  13,389   378,641
Microchip Technology, Inc.
  4,108   394,450
Micron Technology, Inc.(b)
  6,562   314,385
Microsoft Corp.
  1,830   335,348
MKS Instruments, Inc.
  3,112   328,721
MongoDB, Inc.(b)
  2,363   548,476
Monolithic Power Systems, Inc.
  1,785   374,404
Motorola Solutions, Inc.
  1,796   243,053
National Instruments Corp.
  9,361   362,458
NCR Corp.(b)
  15,555   280,768
NetApp, Inc.
  7,092   315,878
New Relic, Inc.(b)
  6,558   433,812
NortonLifeLock, Inc.
  14,762   336,278
Nuance Communications, Inc.(b)
  14,243   325,880
Nutanix, Inc., Class A(b)
  19,117   459,955
NVIDIA Corp.
  1,193   423,539
Okta, Inc.(b)
  2,406   470,565
ON Semiconductor Corp.(b)
  19,735   325,430
Oracle Corp.
  6,413   344,827
PagerDuty, Inc.(b)
  16,168   429,260
Palo Alto Networks, Inc.(b)
  1,808   425,368
Paychex, Inc.
  4,366   315,574
Paycom Software, Inc.(b)
  1,329   395,019
Paylocity Holding Corp.(b)
  3,024   393,135
PayPal Holdings, Inc.(b)
  1,451   224,920
Pegasystems, Inc.
  3,656   347,759
Pluralsight, Inc., Class A(b)
  21,112   439,763
Proofpoint, Inc.(b)
  2,784   323,696
PTC, Inc.(b)
  4,698   358,833
Pure Storage, Inc., Class A(b)
  21,955   386,628
Qorvo, Inc.(b)
  3,310   346,689
QUALCOMM, Inc.
  3,818   308,800
RealPage, Inc.(b)
  4,821   326,960
RingCentral, Inc., Class A(b)
  1,432   392,726
Sabre Corp.
  30,933   215,603
salesforce.com, inc.(b)
  1,807   315,846
ServiceNow, Inc.(b)
  993   385,214
Skyworks Solutions, Inc.
  3,163   374,942
Smartsheet, Inc., Class A(b)
  6,931   399,641
SolarWinds Corp.(b)
  17,391   318,081
Splunk, Inc.(b)
  2,435   452,520
Square, Inc., Class A(b)
  2,636   213,727
SS&C Technologies Holdings, Inc.
  5,984   346,444
Switch, Inc., Class A
  22,714   434,065
SYNNEX Corp.
  2,968   316,537
Synopsys, Inc.(b)
  2,143   387,690
Teradata Corp.(b)
  13,405   287,001
Teradyne, Inc.
  5,128   343,679
  Shares   Value
Information Technology-(continued)
Texas Instruments, Inc.
  2,609   $309,793
Trade Desk, Inc. (The), Class A(b)(c)
  1,154   359,540
Trimble, Inc.(b)
  10,733   419,875
Twilio, Inc., Class A(b)
  3,265   645,164
Tyler Technologies, Inc.(b)
  953   357,670
Ubiquiti, Inc.
  2,256   416,029
Universal Display Corp.
  1,809   265,199
VeriSign, Inc.(b)
  1,531   335,304
ViaSat, Inc.(b)
  5,892   247,464
Visa, Inc., Class A
  896   174,935
VMware, Inc., Class A(b)(c)
  2,599   406,146
Western Digital Corp.
  6,504   288,582
Western Union Co. (The)
  6,825   136,637
WEX, Inc.(b)
  1,204   178,288
Workday, Inc., Class A(b)
  1,955   358,606
Xerox Holdings Corp.
  12,163   193,148
Xilinx, Inc.
  3,694   339,663
Zebra Technologies Corp., Class A(b)
  1,792   468,285
Zendesk, Inc.(b)
  4,237   363,323
Zscaler, Inc.(b)
  6,469   634,544
        53,859,434
Materials-9.11%
Air Products and Chemicals, Inc.
  2,682   648,105
Albemarle Corp.(c)
  7,769   594,484
Alcoa Corp.(b)
  66,912   616,259
AptarGroup, Inc.
  5,328   593,486
Arconic Corp.(b)
  6,434   93,100
Ardagh Group S.A.
  43,222   520,393
Ashland Global Holdings, Inc.
  9,729   653,400
Avery Dennison Corp.
  4,830   534,536
Axalta Coating Systems Ltd.(b)
  27,957   646,086
Ball Corp.
  7,956   566,945
Berry Global Group, Inc.(b)
  17,890   803,440
Cabot Corp.
  17,741   633,708
Celanese Corp.
  6,856   616,423
CF Industries Holdings, Inc.
  20,571   604,170
Chemours Co. (The)
  54,112   709,408
Corteva, Inc.
  31,493   860,074
Crown Holdings, Inc.(b)
  9,226   603,657
Domtar Corp.
  21,861   445,964
Dow, Inc.
  21,240   819,864
DuPont de Nemours, Inc.
  15,103   766,175
Eagle Materials, Inc.
  9,408   628,078
Eastman Chemical Co.
  11,841   806,135
Ecolab, Inc.
  3,054   649,219
Element Solutions, Inc.(b)
  62,834   684,262
FMC Corp.
  6,500   639,665
Freeport-McMoRan, Inc.
  70,092   635,734
Graphic Packaging Holding Co.
  40,534   586,527
Huntsman Corp.
  35,112   637,283
International Flavors & Fragrances, Inc.
  5,029   669,812
International Paper Co.
  17,573   598,361
Linde PLC (United Kingdom)
  3,181   643,644
LyondellBasell Industries N.V., Class A
  10,917   696,068
Martin Marietta Materials, Inc.
  2,715   521,524
Mosaic Co. (The)
  51,862   627,012
NewMarket Corp.
  1,390   606,221
Newmont Corp.
  11,298   660,594
Nucor Corp.
  15,810   668,131
O-I Glass, Inc.
  78,795   603,570
Olin Corp.
  52,960   637,109
Packaging Corp. of America
  6,487   657,847
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Materials-(continued)
PPG Industries, Inc.
  5,595   $568,844
Reliance Steel & Aluminum Co.
  5,842   566,674
Royal Gold, Inc.
  6,228   829,570
RPM International, Inc.
  8,400   628,152
Scotts Miracle-Gro Co. (The)
  5,426   773,585
Sealed Air Corp.
  20,455   656,605
Sherwin-Williams Co. (The)
  1,039   617,010
Silgan Holdings, Inc.
  19,212   642,449
Sonoco Products Co.
  11,348   587,940
Southern Copper Corp. (Peru)
  18,924   686,941
Steel Dynamics, Inc.
  26,830   712,605
United States Steel Corp.(c)
  99,143   797,110
Valvoline, Inc.
  49,265   904,013
Vulcan Materials Co.
  4,681   507,046
W.R. Grace & Co.
  11,539   602,336
Westlake Chemical Corp.
  15,752   751,370
Westrock Co.
  22,760   638,646
        36,657,369
Real Estate-2.80%
Alexandria Real Estate Equities, Inc.
  1,033   158,793
American Campus Communities, Inc.
  4,067   131,364
American Homes 4 Rent, Class A
  5,437   137,230
American Tower Corp.
  663   171,167
Americold Realty Trust
  5,168   184,549
Apartment Investment & Management Co., Class A
  3,280   120,934
Apple Hospitality REIT, Inc.
  16,894   172,488
AvalonBay Communities, Inc.
  774   120,752
Boston Properties, Inc.
  1,254   107,819
Brandywine Realty Trust
  13,314   128,480
Brixmor Property Group, Inc.
  10,656   118,921
Brookfield Property REIT, Inc., Class A(c)
  12,029   124,981
Camden Property Trust
  1,619   148,252
CBRE Group, Inc., Class A(b)
  3,172   139,504
Colony Capital, Inc.
  69,282   139,257
Columbia Property Trust, Inc.
  10,096   128,522
CoreSite Realty Corp.
  1,463   182,612
Corporate Office Properties Trust
  6,408   160,008
Cousins Properties, Inc.
  5,199   161,793
Crown Castle International Corp.
  981   168,889
CubeSmart
  5,085   144,719
CyrusOne, Inc.
  2,830   210,382
Digital Realty Trust, Inc.
  1,107   158,921
Douglas Emmett, Inc.
  4,566   134,058
Duke Realty Corp.
  5,166   178,124
Empire State Realty Trust, Inc., Class A
  14,826   98,296
EPR Properties
  4,989   157,503
Equinix, Inc.
  248   173,012
Equity Commonwealth
  4,910   165,467
Equity LifeStyle Properties, Inc.
  2,222   138,430
Equity Residential
  2,003   121,302
Essex Property Trust, Inc.
  539   130,853
Extra Space Storage, Inc.
  1,459   141,158
Federal Realty Investment Trust
  1,358   108,518
Gaming and Leisure Properties, Inc.
  4,278   147,762
Healthcare Trust of America, Inc., Class A
  5,051   133,700
Healthpeak Properties, Inc.
  5,634   138,822
Highwoods Properties, Inc.
  3,842   147,033
Host Hotels & Resorts, Inc.
  13,434   160,402
Howard Hughes Corp. (The)(b)
  1,841   93,247
Hudson Pacific Properties, Inc.
  5,995   144,899
Invitation Homes, Inc.
  5,494   144,492
  Shares   Value
Real Estate-(continued)
Iron Mountain, Inc.
  5,308   $136,734
JBG SMITH Properties
  4,691   139,463
Jones Lang LaSalle, Inc.
  1,170   119,808
Kilroy Realty Corp.
  2,381   136,003
Kimco Realty Corp.
  11,106   123,388
Lamar Advertising Co., Class A
  2,511   166,479
Life Storage, Inc.
  1,457   142,028
Macerich Co. (The)(c)
  10,354   70,511
Medical Properties Trust, Inc.
  8,441   152,613
Mid-America Apartment Communities, Inc.
  1,193   138,817
National Retail Properties, Inc.
  3,238   101,641
Omega Healthcare Investors, Inc.
  5,698   177,436
Outfront Media, Inc.
  8,731   122,583
Paramount Group, Inc.
  15,453   119,143
Park Hotels & Resorts, Inc.
  16,296   160,190
Prologis, Inc.
  1,998   182,817
Public Storage
  736   149,217
Rayonier, Inc.
  7,553   179,384
Realty Income Corp.
  2,081   115,100
Regency Centers Corp.
  2,749   117,630
Retail Properties of America, Inc., Class A
  17,650   95,663
SBA Communications Corp., Class A
  536   168,374
Service Properties Trust
  15,226   102,775
Simon Property Group, Inc.
  1,707   98,494
SITE Centers Corp.
  20,094   113,933
SL Green Realty Corp.
  2,351   99,024
Spirit Realty Capital, Inc.
  3,927   111,645
STORE Capital Corp.
  5,419   104,803
Sun Communities, Inc.
  983   134,858
Taubman Centers, Inc.
  2,999   123,979
UDR, Inc.
  3,421   126,508
Ventas, Inc.
  5,171   180,726
VEREIT, Inc.
  22,456   123,059
VICI Properties, Inc.
  8,700   170,694
Vornado Realty Trust
  3,307   119,746
Weingarten Realty Investors
  7,024   125,589
Welltower, Inc.
  3,060   155,050
Weyerhaeuser Co.
  7,556   152,556
WP Carey, Inc.
  2,086   124,972
        11,260,848
Utilities-8.04%
AES Corp. (The)
  64,203   801,895
Alliant Energy Corp.
  16,237   801,458
Ameren Corp.
  10,789   806,262
American Electric Power Co., Inc.
  9,462   806,635
American Water Works Co., Inc.
  6,628   841,756
Atmos Energy Corp.
  8,264   849,374
Avangrid, Inc.
  18,319   814,829
CenterPoint Energy, Inc.
  52,597   935,175
CMS Energy Corp.
  13,281   778,001
Consolidated Edison, Inc.
  9,340   701,060
Dominion Energy, Inc.
  10,979   933,325
DTE Energy Co.
  8,589   923,919
Duke Energy Corp.
  9,936   850,820
Edison International
  14,923   867,176
Entergy Corp.
  7,693   783,301
Essential Utilities, Inc.
  21,320   932,963
Evergy, Inc.
  14,282   881,057
Eversource Energy
  9,452   791,132
Exelon Corp.
  22,154   848,720
FirstEnergy Corp.
  20,283   857,160
Hawaiian Electric Industries, Inc.
  19,594   773,179
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
IDACORP, Inc.
  9,389   $875,336
MDU Resources Group, Inc.
  22,031   479,395
National Fuel Gas Co.
  22,950   963,211
NextEra Energy, Inc.
  3,748   957,839
NiSource, Inc.
  32,544   775,524
NRG Energy, Inc.
  29,938   1,079,265
OGE Energy Corp.
  24,346   762,517
PG&E Corp.(b)
  88,022   1,043,941
Pinnacle West Capital Corp.
  9,755   759,915
PPL Corp.
  29,353   820,123
Public Service Enterprise Group, Inc.
  17,541   895,293
Sempra Energy
  7,510   948,588
Southern Co. (The)
  14,973   854,509
UGI Corp.
  26,066   829,941
Vistra Energy Corp.
  54,696   1,117,986
WEC Energy Group, Inc.
  8,540   783,374
Xcel Energy, Inc.
  12,763   829,978
        32,355,932
Total Common Stocks & Other Equity Interests

(Cost $445,245,848)
  401,739,695
  Shares   Value
Money Market Funds-0.03%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $115,388)
  115,388   $115,388
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.89%

(Cost $445,361,236)
  401,855,083
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-4.27%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $17,185,209)
  17,185,209   17,185,209
TOTAL INVESTMENTS IN SECURITIES-104.16%

(Cost $462,546,445)
  419,040,292
OTHER ASSETS LESS LIABILITIES-(4.16)%
  (16,755,058)
NET ASSETS-100.00%
  $402,285,234
 
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 Ltd. $192,215   $92,169   $(51,720)   $(96,569)   $(16,792)   $119,303   $11,354
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class -   10,550,040   (10,434,652)   -   -   115,388   2,570
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 9,793,835   68,810,438   (78,604,273)   -   -   -   104,484
Invesco Liquid Assets Portfolio, Institutional Class* 3,517,256   18,320,645   (21,836,667)   -   (1,234)   -   15,883
Invesco Private Government Fund -   47,967,187   (30,781,978)   -   -   17,185,209   215
Total $13,503,306   $145,740,479   $(141,709,290)   $(96,569)   $(18,026)   $17,419,900   $134,506
    
* 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 Russell 1000 Low Beta Equal Weight ETF (USLB)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.93%
Communication Services-6.97%
Activision Blizzard, Inc.
  467   $33,615
Alphabet, Inc., Class A(b)
  10   14,335
Alphabet, Inc., Class C(b)
  10   14,289
Altice USA, Inc., Class A(b)
  1,023   26,312
AMC Networks, Inc., Class A(b)
  669   18,913
AT&T, Inc.
  659   20,337
Cable One, Inc.
  17   32,077
Charter Communications, Inc., Class A(b)
  55   29,920
Cinemark Holdings, Inc.
  741   11,137
Comcast Corp., Class A
  579   22,928
IAC/InterActiveCorp.(b)
  117   31,633
Interpublic Group of Cos., Inc. (The)
  1,158   19,813
Liberty Media Corp.-Liberty SiriusXM, Class A(b)
  183   6,680
Liberty Media Corp.-Liberty SiriusXM, Class C(b)
  345   12,582
Live Nation Entertainment, Inc.(b)
  370   18,189
Match Group, Inc.(b)(c)
  369   32,856
New York Times Co. (The), Class A
  807   31,659
Omnicom Group, Inc.
  327   17,916
Sinclair Broadcast Group, Inc., Class A(c)
  752   14,055
Sirius XM Holdings, Inc.
  3,636   21,162
Take-Two Interactive Software, Inc.(b)
  207   28,187
Telephone & Data Systems, Inc.
  1,052   21,555
T-Mobile US, Inc.(b)
  324   32,413
Twitter, Inc.(b)
  835   25,860
United States Cellular Corp.(b)
  741   23,349
Verizon Communications, Inc.
  416   23,870
Walt Disney Co. (The)
  169   19,824
Zynga, Inc., Class A(b)
  4,087   37,396
        642,862
Consumer Discretionary-11.77%
Advance Auto Parts, Inc.
  165   22,988
AutoNation, Inc.(b)
  501   19,780
AutoZone, Inc.(b)
  22   25,253
Booking Holdings, Inc.(b)
  14   22,952
Bright Horizons Family Solutions, Inc.(b)
  167   18,684
Burlington Stores, Inc.(b)
  115   24,112
CarMax, Inc.(b)
  261   22,981
Choice Hotels International, Inc.
  261   21,097
Columbia Sportswear Co.
  274   20,018
D.R. Horton, Inc.
  454   25,106
Darden Restaurants, Inc.
  218   16,755
Dollar General Corp.
  165   31,599
Domino’s Pizza, Inc.
  88   33,954
Dunkin’ Brands Group, Inc.
  329   21,013
Expedia Group, Inc.
  243   19,314
Five Below, Inc.(b)
  217   22,709
Gap, Inc. (The)
  1,555   13,840
Garmin Ltd.
  264   23,805
Gentex Corp.
  897   23,717
Genuine Parts Co.
  243   20,269
Graham Holdings Co., Class B
  40   14,329
Grand Canyon Education, Inc.(b)
  291   28,399
H&R Block, Inc.
  1,071   18,207
Hilton Worldwide Holdings, Inc.
  246   19,510
Home Depot, Inc. (The)
  117   29,072
Hyatt Hotels Corp., Class A(c)
  315   17,353
Kohl’s Corp.
  537   10,321
Lennar Corp., Class A
  411   24,849
Lennar Corp., Class B
  20   898
Macy’s, Inc.(c)
  1,719   10,933
McDonald’s Corp.
  129   24,035
  Shares   Value
Consumer Discretionary-(continued)
NIKE, Inc., Class B
  267   $26,321
Nordstrom, Inc.(c)
  669   10,791
NVR, Inc.(b)
  7   22,551
O’Reilly Automotive, Inc.(b)
  57   23,783
Planet Fitness, Inc., Class A(b)
  351   22,685
Pool Corp.
  122   32,820
PulteGroup, Inc.
  651   22,114
Ross Stores, Inc.
  225   21,816
Service Corp. International
  578   22,791
Six Flags Entertainment Corp.
  585   13,443
Starbucks Corp.
  295   23,007
Target Corp.
  201   24,588
TJX Cos., Inc. (The)
  423   22,318
Toll Brothers, Inc.
  629   20,323
Tractor Supply Co.
  267   32,579
Urban Outfitters, Inc.(b)
  993   16,821
Wendy’s Co. (The)
  1,193   25,363
Williams-Sonoma, Inc.
  369   30,705
Yum! Brands, Inc.
  257   23,061
        1,085,732
Consumer Staples-9.11%
Altria Group, Inc.
  513   20,033
Brown-Forman Corp., Class A
  76   4,511
Brown-Forman Corp., Class B
  303   19,977
Campbell Soup Co.
  519   26,459
Casey’s General Stores, Inc.
  146   23,321
Church & Dwight Co., Inc.
  363   27,250
Clorox Co. (The)
  169   34,856
Coca-Cola Co. (The)
  472   22,033
Colgate-Palmolive Co.
  371   26,834
Costco Wholesale Corp.
  85   26,220
Energizer Holdings, Inc.(c)
  505   22,159
Estee Lauder Cos., Inc. (The), Class A
  127   25,079
Flowers Foods, Inc.
  1,178   27,789
General Mills, Inc.
  477   30,070
Herbalife Nutrition Ltd.(b)
  563   24,682
Hershey Co. (The)
  167   22,659
Hormel Foods Corp.
  563   27,491
JM Smucker Co. (The)
  237   27,001
Kellogg Co.
  381   24,883
Kimberly-Clark Corp.
  183   25,883
Kroger Co. (The)
  925   30,173
Lamb Weston Holdings, Inc.
  303   18,198
McCormick & Co., Inc.
  147   25,748
Molson Coors Beverage Co., Class B
  495   18,790
Mondelez International, Inc., Class A
  472   24,601
Nu Skin Enterprises, Inc., Class A
  677   25,171
PepsiCo, Inc.
  183   24,074
Post Holdings, Inc.(b)
  234   20,372
Procter & Gamble Co. (The)
  205   23,764
Seaboard Corp.
  6   17,640
Sprouts Farmers Market, Inc.(b)
  1,266   31,815
Sysco Corp.
  315   17,375
Tyson Foods, Inc., Class A
  281   17,265
US Foods Holding Corp.(b)
  618   11,828
Walgreens Boots Alliance, Inc.
  429   18,421
Walmart, Inc.
  211   26,177
        840,602
Energy-1.49%
Antero Resources Corp.(b)(c)
  11,619   34,741
Cabot Oil & Gas Corp.
  1,585   31,447
Invesco Russell 1000 Low Beta Equal Weight ETF (USLB)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Energy-(continued)
Chevron Corp.
  216   $19,807
ConocoPhillips
  418   17,631
Kinder Morgan, Inc.
  1,299   20,524
ONEOK, Inc.
  357   13,098
        137,248
Financials-12.80%
Aflac, Inc.
  483   17,615
Alleghany Corp.
  32   16,419
Allstate Corp. (The)
  228   22,301
American Express Co.
  218   20,725
American Financial Group, Inc.
  229   13,795
American International Group, Inc.
  495   14,880
American National Insurance Co.
  221   16,608
Aon PLC, Class A
  125   24,619
Arch Capital Group Ltd.(b)
  615   17,355
Arthur J. Gallagher & Co.
  272   25,644
Assurant, Inc.
  195   20,003
Assured Guaranty Ltd.
  513   13,302
AXIS Capital Holdings Ltd.
  435   16,330
Berkshire Hathaway, Inc., Class B(b)
  115   21,342
Brown & Brown, Inc.
  677   27,215
Cboe Global Markets, Inc.
  212   22,570
Charles Schwab Corp. (The)
  523   18,781
Chimera Investment Corp.(c)
  1,253   10,412
Chubb Ltd.
  165   20,120
Cincinnati Financial Corp.
  240   14,148
CME Group, Inc., Class A
  123   22,460
CNA Financial Corp.
  593   17,926
Commerce Bancshares, Inc.(c)
  399   25,428
Credit Acceptance Corp.(b)(c)
  59   21,819
Erie Indemnity Co., Class A
  150   27,036
Everest Re Group Ltd.
  93   18,452
FactSet Research Systems, Inc.
  95   29,213
Franklin Resources, Inc.
  944   17,813
Globe Life, Inc.
  252   19,409
Hanover Insurance Group, Inc. (The)
  192   19,267
Hartford Financial Services Group, Inc. (The)
  417   15,967
Interactive Brokers Group, Inc., Class A
  536   22,700
Intercontinental Exchange, Inc.
  268   26,063
Loews Corp.
  512   17,019
LPL Financial Holdings, Inc.
  279   19,918
Markel Corp.(b)
  23   20,641
MarketAxess Holdings, Inc.
  64   32,550
Marsh & McLennan Cos., Inc.
  235   24,891
Mercury General Corp.
  512   20,598
MFA Financial, Inc.
  3,252   5,496
Morningstar, Inc.
  165   25,298
Nasdaq, Inc.
  238   28,193
Old Republic International Corp.
  1,125   17,539
Progressive Corp. (The)
  354   27,499
Reinsurance Group of America, Inc.
  154   13,976
RenaissanceRe Holdings Ltd. (Bermuda)
  135   22,661
S&P Global, Inc.
  95   30,877
Santander Consumer USA Holdings, Inc.(c)
  1,109   18,332
Starwood Property Trust, Inc.
  1,017   13,485
T. Rowe Price Group, Inc.
  207   25,026
TFS Financial Corp.
  1,316   20,280
Travelers Cos., Inc. (The)
  185   19,791
Virtu Financial, Inc., Class A
  1,543   36,801
W.R. Berkley Corp.
  369   21,384
Wells Fargo & Co.
  471   12,467
  Shares   Value
Financials-(continued)
White Mountains Insurance Group Ltd.
  23   $21,058
Willis Towers Watson PLC
  131   26,580
        1,180,097
Health Care-13.46%
Abbott Laboratories
  296   28,096
AbbVie, Inc.
  288   26,689
ABIOMED, Inc.(b)
  129   28,883
AmerisourceBergen Corp.
  284   27,077
Amgen, Inc.
  110   25,267
Anthem, Inc.
  87   25,588
Baxter International, Inc.
  309   27,813
Becton, Dickinson and Co.
  98   24,199
Boston Scientific Corp.(b)
  585   22,224
Bristol-Myers Squibb Co.
  432   25,799
Centene Corp.(b)
  693   45,911
Cerner Corp.
  358   26,098
Chemed Corp.
  58   27,754
Cigna Corp.
  127   25,060
Cooper Cos., Inc. (The)
  81   25,675
CVS Health Corp.
  339   22,228
Danaher Corp.
  171   28,490
DENTSPLY SIRONA, Inc.
  438   20,376
Edwards Lifesciences Corp.(b)
  102   22,921
Eli Lilly and Co.
  212   32,425
Henry Schein, Inc.(b)
  363   22,041
Horizon Therapeutics PLC(b)
  776   39,367
Humana, Inc.
  73   29,977
IDEXX Laboratories, Inc.(b)
  100   30,888
Incyte Corp.(b)
  267   27,210
Insulet Corp.(b)
  140   26,400
Ionis Pharmaceuticals, Inc.(b)
  394   22,147
Johnson & Johnson
  180   26,775
Laboratory Corp. of America Holdings(b)
  147   25,772
Masimo Corp.(b)
  162   38,911
Medtronic PLC
  225   22,181
Merck & Co., Inc.
  284   22,924
Neurocrine Biosciences, Inc.(b)
  213   26,574
Pfizer, Inc.
  671   25,626
Premier, Inc., Class A(b)
  651   22,648
Quest Diagnostics, Inc.
  237   28,032
ResMed, Inc.
  167   26,857
STERIS PLC
  165   27,372
Stryker Corp.
  123   24,075
Teleflex, Inc.
  71   25,763
Thermo Fisher Scientific, Inc.
  80   27,935
UnitedHealth Group, Inc.
  90   27,437
Varian Medical Systems, Inc.(b)
  180   21,850
Vertex Pharmaceuticals, Inc.(b)
  112   32,252
Waters Corp.(b)
  111   22,183
Zoetis, Inc.
  209   29,133
        1,240,903
Industrials-6.05%
AMERCO
  73   23,543
Boeing Co. (The)
  75   10,939
C.H. Robinson Worldwide, Inc.
  333   27,016
Cintas Corp.
  99   24,548
Copa Holdings S.A., Class A (Panama)
  248   10,877
Copart, Inc.(b)
  289   25,834
Graco, Inc.
  525   25,310
HD Supply Holdings, Inc.(b)
  638   20,231
HEICO Corp.
  81   8,162
Invesco Russell 1000 Low Beta Equal Weight ETF (USLB)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Industrials-(continued)
HEICO Corp., Class A
  159   $13,348
Hexcel Corp.
  321   11,617
IHS Markit Ltd.
  345   23,964
J.B. Hunt Transport Services, Inc.
  228   27,285
Jacobs Engineering Group, Inc.
  293   24,618
KAR Auction Services, Inc.
  1,204   17,277
L3Harris Technologies, Inc.
  130   25,928
Lennox International, Inc.
  99   21,170
Northrop Grumman Corp.
  73   24,470
Republic Services, Inc.
  290   24,783
Rollins, Inc.
  724   30,263
Roper Technologies, Inc.
  73   28,747
Spirit AeroSystems Holdings, Inc., Class A
  303   6,566
Toro Co. (The)
  320   22,742
Verisk Analytics, Inc.
  172   29,701
Waste Management, Inc.
  222   23,699
Watsco, Inc.
  141   25,085
        557,723
Information Technology-10.94%
Accenture PLC, Class A
  126   25,404
Akamai Technologies, Inc.(b)
  293   30,999
Amdocs Ltd.
  369   22,974
Automatic Data Processing, Inc.
  149   21,827
Black Knight, Inc.(b)
  405   31,177
Booz Allen Hamilton Holding Corp.
  348   27,756
Broadcom, Inc.
  81   23,593
Broadridge Financial Solutions, Inc.
  208   25,189
CACI International, Inc., Class A(b)
  107   26,833
CDW Corp.
  189   20,962
Ciena Corp.(b)
  687   37,964
Citrix Systems, Inc.
  226   33,475
Dell Technologies, Inc., Class C(b)
  528   26,210
Dolby Laboratories, Inc., Class A
  381   23,138
Euronet Worldwide, Inc.(b)
  165   15,630
Fidelity National Information Services, Inc.
  189   26,239
Fiserv, Inc.(b)
  223   23,810
FleetCor Technologies, Inc.(b)
  82   19,991
Genpact Ltd.
  630   22,649
Global Payments, Inc.
  145   26,026
GoDaddy, Inc., Class A(b)
  377   29,123
Intel Corp.
  451   28,381
Intuit, Inc.
  99   28,742
Jack Henry & Associates, Inc.
  166   30,023
Juniper Networks, Inc.
  1,030   24,988
Mastercard, Inc., Class A
  89   26,779
Microsoft Corp.
  170   31,153
Motorola Solutions, Inc.
  152   20,570
National Instruments Corp.
  608   23,542
NCR Corp.(b)
  777   14,025
Nuance Communications, Inc.(b)
  1,454   33,268
Paychex, Inc.
  298   21,539
PayPal Holdings, Inc.(b)
  242   37,512
Sabre Corp.
  1,119   7,799
salesforce.com, inc.(b)
  163   28,491
Switch, Inc., Class A
  1,669   31,895
Tyler Technologies, Inc.(b)
  88   33,027
Visa, Inc., Class A
  139   27,138
Western Union Co. (The)
  939   18,799
        1,008,640
Materials-4.17%
Air Products and Chemicals, Inc.
  110   26,581
  Shares   Value
Materials-(continued)
AptarGroup, Inc.
  228   $25,397
Ball Corp.
  387   27,578
CF Industries Holdings, Inc.
  573   16,829
Ecolab, Inc.
  139   29,549
International Flavors & Fragrances, Inc.(c)
  179   23,841
Linde PLC (United Kingdom)
  126   25,495
Martin Marietta Materials, Inc.
  93   17,864
NewMarket Corp.
  52   22,679
Newmont Corp.
  645   37,713
PPG Industries, Inc.
  198   20,131
Royal Gold, Inc.
  218   29,037
Sonoco Products Co.
  423   21,916
Valvoline, Inc.
  1,116   20,478
Vulcan Materials Co.
  177   19,173
W.R. Grace & Co.
  387   20,201
        384,462
Real Estate-14.28%
Alexandria Real Estate Equities, Inc.
  157   24,134
American Campus Communities, Inc.
  525   16,958
American Homes 4 Rent, Class A
  946   23,877
American Tower Corp.
  119   30,722
Americold Realty Trust
  683   24,390
Apartment Investment & Management Co., Class A
  480   17,698
Apple Hospitality REIT, Inc.
  1,565   15,979
AvalonBay Communities, Inc.
  117   18,253
Boston Properties, Inc.
  183   15,734
Brandywine Realty Trust
  1,629   15,720
Camden Property Trust
  226   20,695
Columbia Property Trust, Inc.
  1,223   15,569
CoreSite Realty Corp.
  221   27,585
Corporate Office Properties Trust
  867   21,649
Cousins Properties, Inc.
  633   19,699
Crown Castle International Corp.
  187   32,194
CubeSmart
  831   23,650
Digital Realty Trust, Inc.
  212   30,435
Douglas Emmett, Inc.
  573   16,823
Duke Realty Corp.
  730   25,170
Empire State Realty Trust, Inc., Class A
  1,788   11,854
EPR Properties
  362   11,428
Equinix, Inc.
  45   31,393
Equity Commonwealth
  779   26,252
Equity LifeStyle Properties, Inc.
  346   21,556
Equity Residential
  303   18,350
Essex Property Trust, Inc.
  81   19,664
Extra Space Storage, Inc.
  237   22,930
Federal Realty Investment Trust
  190   15,183
Gaming and Leisure Properties, Inc.
  600   20,724
Healthcare Trust of America, Inc., Class A
  849   22,473
Healthpeak Properties, Inc.
  743   18,308
Highwoods Properties, Inc.
  529   20,245
Host Hotels & Resorts, Inc.
  1,419   16,943
Hudson Pacific Properties, Inc.
  696   16,822
Invitation Homes, Inc.
  828   21,776
Iron Mountain, Inc.
  789   20,325
JBG SMITH Properties
  645   19,176
Kilroy Realty Corp.
  299   17,079
Kimco Realty Corp.
  1,179   13,099
Lamar Advertising Co., Class A
  309   20,487
Life Storage, Inc.
  231   22,518
Macerich Co. (The)
  933   6,354
Medical Properties Trust, Inc.
  1,215   21,967
Mid-America Apartment Communities, Inc.
  187   21,759
Invesco Russell 1000 Low Beta Equal Weight ETF (USLB)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Real Estate-(continued)
National Retail Properties, Inc.
  459   $14,408
Omega Healthcare Investors, Inc.
  600   18,684
Outfront Media, Inc.
  1,009   14,166
Paramount Group, Inc.
  1,814   13,986
Public Storage
  118   23,923
Realty Income Corp.
  333   18,418
Regency Centers Corp.
  393   16,816
Retail Properties of America, Inc., Class A
  1,779   9,642
SBA Communications Corp., Class A
  108   33,926
Service Properties Trust
  1,077   7,270
Simon Property Group, Inc.
  165   9,521
SITE Centers Corp.
  1,727   9,792
SL Green Realty Corp.
  297   12,510
Spirit Realty Capital, Inc.
  477   13,561
STORE Capital Corp.
  627   12,126
Sun Communities, Inc.
  159   21,813
Taubman Centers, Inc.
  801   33,113
UDR, Inc.
  534   19,747
Ventas, Inc.
  441   15,413
VICI Properties, Inc.
  1,046   20,523
Vornado Realty Trust
  393   14,231
Weingarten Realty Investors
  783   14,000
Welltower, Inc.
  309   15,657
WP Carey, Inc.
  308   18,452
        1,317,297
Utilities-8.89%
AES Corp. (The)
  1,323   16,524
Alliant Energy Corp.
  475   23,446
Ameren Corp.
  344   25,707
American Electric Power Co., Inc.
  275   23,444
American Water Works Co., Inc.
  206   26,162
Atmos Energy Corp.
  235   24,153
Avangrid, Inc.
  513   22,818
CenterPoint Energy, Inc.
  1,013   18,011
CMS Energy Corp.
  411   24,076
Consolidated Edison, Inc.
  291   21,842
Dominion Energy, Inc.
  305   25,928
DTE Energy Co.
  204   21,944
Duke Energy Corp.
  282   24,148
Entergy Corp.
  214   21,790
Essential Utilities, Inc.
  560   24,506
Evergy, Inc.
  401   24,738
Eversource Energy
  303   25,361
Exelon Corp.
  567   21,722
  Shares   Value
Utilities-(continued)
FirstEnergy Corp.
  525   $22,187
Hawaiian Electric Industries, Inc.
  573   22,611
IDACORP, Inc.
  240   22,375
MDU Resources Group, Inc.
  873   18,997
National Fuel Gas Co.
  558   23,419
NextEra Energy, Inc.
  109   27,856
NiSource, Inc.
  967   23,044
NRG Energy, Inc.
  639   23,036
OGE Energy Corp.
  603   18,886
Pinnacle West Capital Corp.
  289   22,513
PPL Corp.
  728   20,340
Public Service Enterprise Group, Inc.
  429   21,896
Sempra Energy
  173   21,852
Southern Co. (The)
  405   23,113
UGI Corp.
  585   18,626
Vistra Energy Corp.
  999   20,420
WEC Energy Group, Inc.
  282   25,868
Xcel Energy, Inc.
  411   26,727
        820,086
Total Common Stocks & Other Equity Interests

(Cost $10,307,602)
  9,215,652
Money Market Funds-0.01%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $1,363)
  1,363   1,363
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $10,308,965)
  9,217,015
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-2.50%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $230,398)
  230,398   230,398
TOTAL INVESTMENTS IN SECURITIES-102.44%

(Cost $10,539,363)
  9,447,413
OTHER ASSETS LESS LIABILITIES-(2.44)%
  (225,085)
NET ASSETS-100.00%
  $9,222,328
 
Invesco Russell 1000 Low Beta Equal Weight ETF (USLB)—(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 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $58,684   $1,735,274   $(1,792,595)   $-   $-   $1,363   $734
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 1,337,605   10,345,816   (11,683,421)   -   -   -   10,708
Invesco Liquid Assets Portfolio, Institutional Class* 445,868   2,756,233   (3,201,931)   -   (170)   -   2,020
Invesco Private Government Fund -   860,553   (630,155)   -   -   230,398   3
Total $1,842,157   $15,697,876   $(17,308,102)   $-   $(170)   $231,761   $13,465
    
* 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 500 Enhanced Value ETF (SPVU)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.53%
Communication Services-6.26%
AT&T, Inc.
  123,372   $3,807,260
DISH Network Corp., Class A(b)
  6,859   217,087
News Corp., Class A
  9,804   120,099
ViacomCBS, Inc., Class B
  11,139   231,023
        4,375,469
Consumer Discretionary-9.02%
Best Buy Co., Inc.
  6,468   505,086
BorgWarner, Inc.
  6,035   194,025
Carnival Corp.
  12,889   202,873
D.R. Horton, Inc.
  8,584   474,695
Ford Motor Co.
  178,705   1,020,406
Gap, Inc. (The)
  11,115   98,924
General Motors Co.
  71,922   1,861,341
Hanesbrands, Inc.
  10,668   105,186
Kohl’s Corp.
  7,691   147,821
L Brands, Inc.
  9,353   151,425
Lennar Corp., Class A
  10,686   646,076
Mohawk Industries, Inc.(b)
  1,881   175,309
Nordstrom, Inc.(c)
  3,710   59,842
PulteGroup, Inc.
  6,804   231,132
PVH Corp.
  2,661   120,996
Whirlpool Corp.
  2,608   317,707
        6,312,844
Consumer Staples-5.65%
Archer-Daniels-Midland Co.
  23,383   919,186
Kroger Co. (The)
  31,240   1,019,049
Molson Coors Beverage Co., Class B
  5,492   208,476
Tyson Foods, Inc., Class A
  7,896   485,130
Walgreens Boots Alliance, Inc.
  30,743   1,320,104
        3,951,945
Energy-9.87%
Baker Hughes Co., Class A
  26,937   444,730
Concho Resources, Inc.
  6,695   365,011
ConocoPhillips
  32,707   1,379,581
Devon Energy Corp.
  14,843   160,453
Diamondback Energy, Inc.
  4,961   211,239
Halliburton Co.
  22,258   261,532
HollyFrontier Corp.
  6,780   213,231
Marathon Oil Corp.
  28,865   154,139
Marathon Petroleum Corp.
  33,914   1,191,738
Phillips 66
  17,654   1,381,602
Valero Energy Corp.
  17,103   1,139,744
        6,903,000
Financials-36.74%
Aflac, Inc.
  20,050   731,224
Allstate Corp. (The)
  9,724   951,104
American International Group, Inc.
  32,163   966,820
Assurant, Inc.
  1,558   159,820
Bank of America Corp.
  138,919   3,350,726
Bank of New York Mellon Corp. (The)
  22,532   837,514
Capital One Financial Corp.
  17,747   1,207,506
Citigroup, Inc.
  61,862   2,963,808
Citizens Financial Group, Inc.
  15,947   384,323
Comerica, Inc.
  4,413   160,413
Fifth Third Bancorp
  22,748   441,084
Franklin Resources, Inc.
  7,944   149,903
Goldman Sachs Group, Inc. (The)
  11,070   2,175,144
Hartford Financial Services Group, Inc. (The)
  10,739   411,196
Invesco Ltd.(d)
  13,866   110,512
  Shares   Value
Financials-(continued)
KeyCorp
  26,162   $310,020
Lincoln National Corp.
  8,836   335,150
Loews Corp.
  8,785   292,013
MetLife, Inc.
  41,564   1,496,720
Morgan Stanley
  40,209   1,777,238
People’s United Financial, Inc.
  13,402   153,453
Principal Financial Group, Inc.
  9,737   376,043
Prudential Financial, Inc.
  20,392   1,243,096
Regions Financial Corp.
  29,948   338,712
State Street Corp.
  8,937   544,800
Synchrony Financial
  18,368   374,156
Travelers Cos., Inc. (The)
  7,377   789,191
Unum Group
  11,593   175,634
Wells Fargo & Co.
  88,092   2,331,795
Zions Bancorporation N.A.
  4,830   158,931
        25,698,049
Health Care-14.36%
AmerisourceBergen Corp.
  4,870   464,306
Anthem, Inc.
  6,898   2,028,771
Centene Corp.(b)
  16,497   1,092,926
Cigna Corp.
  13,675   2,698,351
CVS Health Corp.
  53,317   3,495,996
Mylan N.V.(b)
  15,359   262,178
        10,042,528
Industrials-4.61%
Alaska Air Group, Inc.
  3,367   115,118
American Airlines Group, Inc.(c)
  17,218   180,789
Delta Air Lines, Inc.
  20,808   524,570
Johnson Controls International PLC
  26,184   822,439
PACCAR, Inc.
  8,712   643,468
Quanta Services, Inc.
  5,285   195,175
Textron, Inc.
  7,258   224,780
United Airlines Holdings, Inc.(b)
  9,351   262,202
United Rentals, Inc.(b)
  1,839   255,419
        3,223,960
Information Technology-3.98%
Alliance Data Systems Corp.
  1,168   54,113
Hewlett Packard Enterprise Co.
  30,734   298,427
HP, Inc.
  49,597   750,899
Micron Technology, Inc.(b)
  33,204   1,590,804
Xerox Holdings Corp.
  5,716   90,770
        2,785,013
Materials-7.43%
Corteva, Inc.
  30,643   836,860
DuPont de Nemours, Inc.
  23,587   1,196,569
Eastman Chemical Co.
  3,639   247,743
International Paper Co.
  10,769   366,684
LyondellBasell Industries N.V., Class A
  7,132   454,736
Mosaic Co. (The)
  11,467   138,636
Newmont Corp.
  20,050   1,172,324
Nucor Corp.
  10,797   456,281
Westrock Co.
  11,761   330,014
        5,199,847
Real Estate-0.21%
Vornado Realty Trust
  4,134   149,692
Utilities-1.40%
Exelon Corp.
  25,625   981,694
Total Common Stocks & Other Equity Interests

(Cost $88,673,537)
  69,624,041
Invesco S&P 500 Enhanced Value ETF (SPVU)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Money Market Funds-0.09%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $64,074)
  64,074   $64,074
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.62%

(Cost $88,737,611)
  69,688,115
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.34%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $236,101)
  236,101   236,101
TOTAL INVESTMENTS IN SECURITIES-99.96%

(Cost $88,973,712)
  69,924,216
OTHER ASSETS LESS LIABILITIES-0.04%
  31,479
NET ASSETS-100.00%
  $69,955,695
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. $142,116   $127,037   $(43,752)   $(111,156)   $(3,733)   $110,512   $9,332
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class -   2,609,714   (2,545,640)   -   -   64,074   604
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 235,178   3,333,195   (3,568,373)   -   -   -   2,145
Invesco Liquid Assets Portfolio, Institutional Class* 78,393   962,142   (1,040,440)   -   (95)   -   150
Invesco Private Government Fund -   956,428   (720,327)   -   -   236,101   4
Total $455,687   $7,988,516   $(7,918,532)   $(111,156)   $(3,828)   $410,687   $12,235
    
* 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 500® ex-Rate Sensitive Low Volatility ETF (XRLV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.93%
Communication Services-8.96%
Activision Blizzard, Inc.
  8,202   $590,380
Alphabet, Inc., Class C(b)
  476   680,166
AT&T, Inc.
  24,225   747,583
Charter Communications, Inc., Class A(b)
  1,453   790,432
Comcast Corp., Class A
  18,843   746,183
Electronic Arts, Inc.(b)
  5,677   697,590
Facebook, Inc., Class A(b)
  2,839   639,030
Omnicom Group, Inc.
  11,235   615,566
T-Mobile US, Inc.(b)
  7,277   727,991
        6,234,921
Consumer Discretionary-6.32%
Amazon.com, Inc.(b)
  324   791,328
eBay, Inc.
  17,361   790,620
Garmin Ltd.
  8,560   771,855
McDonald’s Corp.
  3,380   629,762
NIKE, Inc., Class B
  6,943   684,441
Tractor Supply Co.
  6,015   733,950
        4,401,956
Consumer Staples-9.14%
Altria Group, Inc.
  18,906   738,279
Archer-Daniels-Midland Co.
  18,844   740,758
Coca-Cola Co. (The)
  16,684   778,809
Estee Lauder Cos., Inc. (The), Class A
  3,432   677,717
Kroger Co. (The)
  21,377   697,318
Molson Coors Beverage Co., Class B
  16,038   608,802
Mondelez International, Inc., Class A
  14,209   740,573
Monster Beverage Corp.(b)
  10,697   769,221
Philip Morris International, Inc.
  8,263   606,174
        6,357,651
Financials-10.94%
Allstate Corp. (The)
  5,824   569,645
Aon PLC, Class A
  3,576   704,293
Arthur J. Gallagher & Co.
  7,635   719,828
Berkshire Hathaway, Inc., Class B(b)
  4,328   803,190
Cboe Global Markets, Inc.
  6,183   658,242
Chubb Ltd.
  6,089   742,493
Intercontinental Exchange, Inc.
  7,066   687,169
Marsh & McLennan Cos., Inc.
  6,805   720,786
Progressive Corp. (The)
  8,599   667,970
Willis Towers Watson PLC
  3,425   694,932
Zions Bancorporation N.A.
  19,510   641,977
        7,610,525
Health Care-26.15%
Abbott Laboratories
  7,227   685,987
AbbVie, Inc.
  7,527   697,527
Agilent Technologies, Inc.
  7,976   703,005
Amgen, Inc.
  2,820   647,754
Becton, Dickinson and Co.
  2,661   657,081
Boston Scientific Corp.(b)
  16,660   632,913
Bristol-Myers Squibb Co.
  13,314   795,112
Cooper Cos., Inc. (The)
  2,242   710,669
CVS Health Corp.
  10,519   689,731
Danaher Corp.
  4,457   742,581
DENTSPLY SIRONA, Inc.
  15,688   729,806
Gilead Sciences, Inc.
  8,414   654,862
Henry Schein, Inc.(b)
  12,410   753,535
Hologic, Inc.(b)
  11,266   597,098
IDEXX Laboratories, Inc.(b)
  2,207   681,698
Incyte Corp.(b)
  6,347   646,823
  Shares   Value
Health Care-(continued)
Johnson & Johnson
  5,154   $766,657
Merck & Co., Inc.
  9,881   797,594
Mettler-Toledo International, Inc.(b)
  836   664,620
PerkinElmer, Inc.
  7,476   751,114
Pfizer, Inc.
  19,762   754,711
Quest Diagnostics, Inc.
  5,844   691,228
Thermo Fisher Scientific, Inc.
  1,990   694,888
Vertex Pharmaceuticals, Inc.(b)
  2,248   647,334
Waters Corp.(b)
  3,568   713,065
Zoetis, Inc.
  4,957   690,956
        18,198,349
Industrials-25.24%
3M Co.
  4,505   704,762
A.O. Smith Corp.
  15,544   738,340
Allegion PLC
  6,020   600,194
C.H. Robinson Worldwide, Inc.
  10,322   837,424
Caterpillar, Inc.
  5,444   653,988
Expeditors International of Washington, Inc.
  10,043   766,984
General Dynamics Corp.
  5,515   809,767
Honeywell International, Inc.
  4,469   651,804
Huntington Ingalls Industries, Inc.
  3,379   675,428
IDEX Corp.
  4,360   694,853
J.B. Hunt Transport Services, Inc.
  5,937   710,481
Jacobs Engineering Group, Inc.
  7,859   660,313
Johnson Controls International PLC
  22,189   696,957
L3Harris Technologies, Inc.
  3,317   661,576
Lockheed Martin Corp.
  1,653   642,091
Northrop Grumman Corp.
  1,920   643,584
PACCAR, Inc.
  9,730   718,658
Republic Services, Inc.
  9,257   791,103
Rollins, Inc.
  16,399   685,478
Roper Technologies, Inc.
  1,726   679,699
Trane Technologies PLC
  7,515   677,928
Union Pacific Corp.
  3,754   637,654
United Parcel Service, Inc., Class B
  7,014   699,366
Verisk Analytics, Inc.
  4,169   719,903
Waste Management, Inc.
  7,566   807,671
        17,566,006
Information Technology-10.26%
Accenture PLC, Class A
  3,454   696,395
Akamai Technologies, Inc.(b)
  6,757   714,891
Amphenol Corp., Class A
  7,083   683,934
Automatic Data Processing, Inc.
  4,003   586,399
F5 Networks, Inc.(b)
  4,412   639,387
International Business Machines Corp.
  5,092   635,991
Juniper Networks, Inc.
  30,170   731,924
Microsoft Corp.
  3,202   586,767
Motorola Solutions, Inc.
  4,311   583,408
Visa, Inc., Class A
  3,237   631,992
Western Union Co. (The)
  32,482   650,290
        7,141,378
Materials-2.05%
Linde PLC (United Kingdom)
  3,664   741,374
PPG Industries, Inc.
  6,765   687,797
        1,429,171
Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF (XRLV)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Real Estate-0.87%
Alexandria Real Estate Equities, Inc.
  3,958   $608,424
TOTAL INVESTMENTS IN SECURITIES-99.93%

(Cost $66,652,249)
  69,548,381
OTHER ASSETS LESS LIABILITIES-0.07%
  46,309
NET ASSETS-100.00%
  $69,594,690
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.
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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* $908,778   $5,811,389   $(6,720,167)   $-   $-   $-   $4,395
Invesco Liquid Assets Portfolio, Institutional Class* 302,009   1,939,686   (2,241,447)   -   (248)   -   1,294
Total $1,210,787   $7,751,075   $(8,961,614)   $-   $(248)   $-   $5,689
    
* At May 31, 2020, this security was no longer held.
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 500® High Beta ETF (SPHB)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.76%
Communication Services-2.26%
DISH Network Corp., Class A(b)
  34,163   $1,081,259
ViacomCBS, Inc., Class B
  49,259   1,021,632
        2,102,891
Consumer Discretionary-18.48%
Aptiv PLC
  11,982   902,844
Carnival Corp.
  76,039   1,196,854
Darden Restaurants, Inc.
  12,613   969,435
Gap, Inc. (The)
  118,458   1,054,276
Harley-Davidson, Inc.
  43,987   938,683
Kohl’s Corp.
  45,078   866,399
L Brands, Inc.
  72,006   1,165,777
Leggett & Platt, Inc.
  28,260   864,473
LKQ Corp.(b)
  30,609   840,523
MGM Resorts International
  67,775   1,164,375
Nordstrom, Inc.(c)
  48,909   788,902
Norwegian Cruise Line Holdings Ltd.(b)(c)
  90,279   1,413,769
PVH Corp.
  22,111   1,005,387
Royal Caribbean Cruises Ltd.
  24,851   1,289,021
Tapestry, Inc.
  69,638   947,077
Whirlpool Corp.
  7,442   906,585
Wynn Resorts Ltd.
  10,754   895,593
        17,209,973
Energy-17.14%
Apache Corp.
  84,303   909,629
Baker Hughes Co., Class A
  60,619   1,000,820
Chevron Corp.
  8,130   745,521
ConocoPhillips
  19,023   802,390
Devon Energy Corp.
  76,133   822,998
Diamondback Energy, Inc.
  19,022   809,957
Halliburton Co.
  98,609   1,158,656
Hess Corp.
  16,520   784,204
Marathon Oil Corp.
  131,502   702,221
Marathon Petroleum Corp.
  29,289   1,029,215
National Oilwell Varco, Inc.
  71,649   893,463
Noble Energy, Inc.
  107,121   935,166
Occidental Petroleum Corp.
  64,016   829,007
ONEOK, Inc.
  29,080   1,066,945
Pioneer Natural Resources Co.
  9,838   901,161
Schlumberger Ltd.
  48,734   900,117
TechnipFMC PLC (United Kingdom)
  109,561   810,751
Valero Energy Corp.
  12,832   855,125
        15,957,346
Financials-31.15%
American Express Co.
  9,555   908,394
American International Group, Inc.
  33,910   1,019,335
Ameriprise Financial, Inc.
  9,581   1,342,010
Bank of America Corp.
  34,885   841,426
Capital One Financial Corp.
  14,997   1,020,396
Citigroup, Inc.
  20,380   976,406
Citizens Financial Group, Inc.
  41,952   1,011,043
Comerica, Inc.
  24,686   897,336
Discover Financial Services
  25,887   1,229,891
E*TRADE Financial Corp.
  22,713   1,034,350
Fifth Third Bancorp
  51,982   1,007,931
Invesco Ltd.(d)
  116,681   929,948
JPMorgan Chase & Co.
  7,931   771,766
KeyCorp
  85,735   1,015,960
Lincoln National Corp.
  40,942   1,552,930
Loews Corp.
  24,817   824,917
  Shares   Value
Financials-(continued)
MetLife, Inc.
  24,396   $878,500
Moody’s Corp.
  3,038   812,392
Morgan Stanley
  21,592   954,366
PNC Financial Services Group, Inc. (The)
  7,674   875,143
Principal Financial Group, Inc.
  23,829   920,276
Prudential Financial, Inc.
  16,205   987,857
Raymond James Financial, Inc.
  11,627   805,518
Regions Financial Corp.
  83,354   942,734
State Street Corp.
  12,740   776,630
SVB Financial Group(b)
  4,665   1,001,809
Synchrony Financial
  51,542   1,049,910
Truist Financial Corp.
  22,597   831,118
Unum Group
  67,656   1,024,988
Wells Fargo & Co.
  28,724   760,324
        29,005,604
Health Care-0.92%
Align Technology, Inc.(b)
  3,491   857,459
Industrials-8.12%
Alaska Air Group, Inc.
  25,974   888,051
Boeing Co. (The)
  6,989   1,019,346
Eaton Corp. PLC
  9,061   769,279
Parker-Hannifin Corp.
  5,364   965,359
Stanley Black & Decker, Inc.
  8,055   1,010,500
Textron, Inc.
  30,984   959,574
United Airlines Holdings, Inc.(b)
  32,663   915,871
United Rentals, Inc.(b)
  7,471   1,037,647
        7,565,627
Information Technology-14.10%
Alliance Data Systems Corp.
  18,879   874,664
Applied Materials, Inc.
  16,477   925,678
Broadcom, Inc.
  2,717   791,381
Corning, Inc.
  34,599   788,511
DXC Technology Co.
  64,886   922,030
Global Payments, Inc.
  4,518   810,936
KLA Corp.
  5,025   884,199
Lam Research Corp.
  3,517   962,497
Microchip Technology, Inc.
  9,917   952,230
Micron Technology, Inc.(b)
  16,687   799,474
NVIDIA Corp.
  2,668   947,193
Paycom Software, Inc.(b)
  3,133   931,222
Qorvo, Inc.(b)
  7,321   766,802
Skyworks Solutions, Inc.
  7,190   852,303
Western Digital Corp.
  20,666   916,950
        13,126,070
Materials-3.95%
Dow, Inc.
  23,072   890,579
Freeport-McMoRan, Inc.
  100,656   912,950
LyondellBasell Industries N.V., Class A
  15,452   985,220
Westrock Co.
  31,568   885,798
        3,674,547
Real Estate-3.64%
Simon Property Group, Inc.
  13,283   766,429
SL Green Realty Corp.
  16,005   674,131
Ventas, Inc.
  27,265   952,912
Weyerhaeuser Co.
  49,527   999,950
        3,393,422
Total Common Stocks & Other Equity Interests

(Cost $102,221,147)
  92,892,939
Invesco S&P 500® High Beta ETF (SPHB)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Money Market Funds-0.06%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $56,549)
  56,549   $56,549
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.82%

(Cost $102,277,696)
  92,949,488
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.88%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $823,804)
  823,804   823,804
TOTAL INVESTMENTS IN SECURITIES-100.70%

(Cost $103,101,500)
  93,773,292
OTHER ASSETS LESS LIABILITIES-(0.70)%
  (653,057)
NET ASSETS-100.00%
  $93,120,235
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. $-   $2,732,424   $(1,202,947)   $(434,871)   $(164,658)   $929,948   $11,047
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class -   3,709,506   (3,652,957)   -   -   56,549   903
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 1,125,263   23,369,507   (24,494,770)   -   -   -   13,256
Invesco Liquid Assets Portfolio, Institutional Class* 375,088   6,047,067   (6,421,760)   (1)   (394)   -   1,267
Invesco Private Government Fund -   10,284,655   (9,460,851)   -   -   823,804   23
Total $1,500,351   $46,143,159   $(45,233,285)   $(434,872)   $(165,052)   $1,810,301   $26,496
    
* 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 500® High Dividend Low Volatility ETF (SPHD)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.93%
Communication Services-8.06%
AT&T, Inc.
  2,100,031   $64,806,957
Interpublic Group of Cos., Inc. (The)
  2,692,305   46,065,338
Omnicom Group, Inc.
  639,696   35,048,944
Verizon Communications, Inc.
  1,013,760   58,169,549
        204,090,788
Consumer Discretionary-3.82%
General Motors Co.
  1,874,791   48,519,591
H&R Block, Inc.
  2,838,084   48,247,428
        96,767,019
Consumer Staples-14.02%
Altria Group, Inc.
  1,961,819   76,609,032
General Mills, Inc.
  1,055,289   66,525,419
JM Smucker Co. (The)
  477,983   54,456,603
Kellogg Co.
  729,928   47,671,598
Molson Coors Beverage Co., Class B
  1,003,600   38,096,656
Philip Morris International, Inc.
  976,156   71,610,804
        354,970,112
Energy-11.04%
Chevron Corp.
  546,968   50,156,966
Exxon Mobil Corp.
  1,147,969   52,198,150
Kinder Morgan, Inc.
  3,223,776   50,935,661
ONEOK, Inc.
  965,447   35,422,250
Williams Cos., Inc. (The)
  4,442,605   90,762,420
        279,475,447
Financials-13.55%
Comerica, Inc.
  893,758   32,488,103
Franklin Resources, Inc.
  2,478,143   46,762,558
Huntington Bancshares, Inc.
  4,341,933   38,599,784
People’s United Financial, Inc.
  4,090,921   46,841,046
Principal Financial Group, Inc.
  1,129,333   43,614,841
Progressive Corp. (The)
  784,474   60,937,940
Prudential Financial, Inc.
  706,713   43,081,225
Wells Fargo & Co.
  1,161,973   30,757,425
        343,082,922
Health Care-5.08%
Gilead Sciences, Inc.
  951,165   74,029,172
Pfizer, Inc.
  1,429,576   54,595,507
        128,624,679
  Shares   Value
Industrials-3.47%
3M Co.
  283,861   $44,407,215
United Parcel Service, Inc., Class B
  435,518   43,425,500
        87,832,715
Information Technology-2.61%
International Business Machines Corp.
  528,603   66,022,515
Materials-4.07%
Amcor PLC
  4,910,192   50,133,061
International Paper Co.
  1,554,985   52,947,239
        103,080,300
Real Estate-18.65%
Healthpeak Properties, Inc.
  1,797,337   44,286,384
Host Hotels & Resorts, Inc.
  3,910,822   46,695,215
Iron Mountain, Inc.
  3,124,603   80,489,773
Kimco Realty Corp.
  4,116,075   45,729,593
Public Storage
  259,199   52,550,005
Simon Property Group, Inc.
  595,925   34,384,873
Ventas, Inc.
  1,445,414   50,517,219
Vornado Realty Trust
  913,514   33,078,342
Welltower, Inc.
  758,002   38,407,961
Weyerhaeuser Co.
  2,284,627   46,126,619
        472,265,984
Utilities-15.56%
CenterPoint Energy, Inc.
  2,468,499   43,889,912
Consolidated Edison, Inc.
  541,348   40,633,581
Dominion Energy, Inc.
  817,073   69,459,376
Duke Energy Corp.
  660,513   56,559,728
Edison International
  660,865   38,402,865
Pinnacle West Capital Corp.
  531,119   41,374,170
PPL Corp.
  1,949,810   54,477,691
Southern Co. (The)
  861,379   49,158,900
        393,956,223
TOTAL INVESTMENTS IN SECURITIES-99.93%

(Cost $3,224,933,872)
  2,530,168,704
OTHER ASSETS LESS LIABILITIES-0.07%
  1,661,733
NET ASSETS-100.00%
  $2,531,830,437
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD)—(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.
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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* $19,206,190   $141,905,464   $(161,111,654)   $-   $-   $-   $107,470
Invesco Liquid Assets Portfolio, Institutional Class* 6,402,063   43,665,513   (50,059,988)   -   (7,588)   -   24,435
Invesco Private Government Fund* -   14,835,152   (14,835,152)   -   -   -   24
Total $25,608,253   $200,406,129   $(226,006,794)   $-   $(7,588)   $-   $131,929
    
* At May 31, 2020, this security was no longer held.
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 500® Low Volatility ETF (SPLV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-7.34%
Alphabet, Inc., Class C(b)
  57,599   $82,304,363
AT&T, Inc.
  2,935,363   90,585,302
Charter Communications, Inc., Class A(b)
  175,987   95,736,928
Comcast Corp., Class A
  2,283,189   90,414,284
Electronic Arts, Inc.(b)
  688,026   84,544,635
T-Mobile US, Inc.(b)
  881,862   88,221,475
Verizon Communications, Inc.
  2,074,718   119,047,319
        650,854,306
Consumer Discretionary-5.33%
Amazon.com, Inc.(b)
  39,112   95,525,975
Dollar General Corp.
  516,622   98,938,279
eBay, Inc.
  2,103,661   95,800,722
Garmin Ltd.
  1,037,098   93,515,127
Tractor Supply Co.
  728,773   88,924,882
        472,704,985
Consumer Staples-22.64%
Altria Group, Inc.
  2,290,924   89,460,582
Archer-Daniels-Midland Co.
  2,283,272   89,755,422
Brown-Forman Corp., Class B
  1,162,750   76,660,108
Campbell Soup Co.
  1,818,148   92,689,185
Church & Dwight Co., Inc.
  1,261,878   94,729,181
Clorox Co. (The)
  503,417   103,829,756
Coca-Cola Co. (The)
  2,021,638   94,370,062
Colgate-Palmolive Co.
  1,308,999   94,679,898
Costco Wholesale Corp.
  322,973   99,627,481
General Mills, Inc.
  1,594,212   100,499,125
Hershey Co. (The)
  593,108   80,472,893
Hormel Foods Corp.
  2,056,187   100,403,611
JM Smucker Co. (The)
  788,475   89,830,957
Kellogg Co.
  1,356,676   88,604,510
Kimberly-Clark Corp.
  672,053   95,055,176
Kroger Co. (The)
  2,590,266   84,494,477
McCormick & Co., Inc.
  477,571   83,651,336
Mondelez International, Inc., Class A
  1,721,706   89,735,317
Monster Beverage Corp.(b)
  1,296,190   93,209,023
PepsiCo, Inc.
  607,693   79,942,014
Procter & Gamble Co. (The)
  767,393   88,956,197
Walmart, Inc.
  788,998   97,883,092
        2,008,539,403
Financials-5.84%
Aon PLC, Class A
  433,398   85,357,736
Berkshire Hathaway, Inc., Class B(b)
  524,352   97,309,244
Intercontinental Exchange, Inc.
  856,161   83,261,657
Marsh & McLennan Cos., Inc.
  824,475   87,328,392
Progressive Corp. (The)
  1,042,015   80,943,725
Willis Towers Watson PLC
  414,997   84,202,892
        518,403,646
Health Care-25.51%
Abbott Laboratories
  875,623   83,114,135
AbbVie, Inc.
  912,112   84,525,419
Agilent Technologies, Inc.
  966,384   85,177,086
Amgen, Inc.
  341,629   78,472,181
Baxter International, Inc.
  887,479   79,881,985
Becton, Dickinson and Co.
  322,398   79,609,738
Bristol-Myers Squibb Co.
  1,613,164   96,338,154
Cerner Corp.
  1,549,403   112,951,479
Cooper Cos., Inc. (The)
  271,489   86,056,583
CVS Health Corp.
  1,274,719   83,583,325
Danaher Corp.
  540,019   89,972,566
  Shares   Value
Health Care-(continued)
DENTSPLY SIRONA, Inc.
  1,900,841   $88,427,123
Eli Lilly and Co.
  520,411   79,596,862
Gilead Sciences, Inc.
  1,019,655   79,359,749
Henry Schein, Inc.(b)
  1,503,643   91,301,203
IDEXX Laboratories, Inc.(b)
  267,500   82,625,400
Johnson & Johnson
  624,393   92,878,459
Medtronic PLC
  818,485   80,686,251
Merck & Co., Inc.
  1,197,252   96,642,181
PerkinElmer, Inc.
  906,050   91,030,844
Pfizer, Inc.
  2,394,719   91,454,319
Quest Diagnostics, Inc.
  708,119   83,756,315
STERIS PLC
  551,576   91,500,943
Thermo Fisher Scientific, Inc.
  241,148   84,206,470
Waters Corp.(b)
  432,477   86,430,528
Zoetis, Inc.
  600,632   83,722,094
        2,263,301,392
Industrials-15.87%
3M Co.
  545,749   85,376,974
A.O. Smith Corp.
  1,883,527   89,467,533
C.H. Robinson Worldwide, Inc.
  1,250,738   101,472,374
Equifax, Inc.
  519,302   79,744,015
Expeditors International of Washington, Inc.
  1,217,012   92,943,207
General Dynamics Corp.
  668,251   98,119,294
IDEX Corp.
  528,375   84,207,124
Johnson Controls International PLC
  2,688,705   84,452,224
Lockheed Martin Corp.
  200,162   77,750,927
Northrop Grumman Corp.
  232,559   77,953,777
PACCAR, Inc.
  1,179,172   87,093,644
Republic Services, Inc.
  1,121,674   95,858,260
Rollins, Inc.
  1,987,194   83,064,709
United Parcel Service, Inc., Class B
  849,985   84,752,004
Verisk Analytics, Inc.
  505,237   87,244,325
Waste Management, Inc.
  916,783   97,866,585
        1,407,366,976
Information Technology-8.46%
Accenture PLC, Class A
  418,570   84,392,083
Akamai Technologies, Inc.(b)
  818,710   86,619,518
Broadridge Financial Solutions, Inc.
  692,289   83,836,198
Citrix Systems, Inc.
  585,408   86,710,633
F5 Networks, Inc.(b)
  534,548   77,466,696
International Business Machines Corp.
  617,084   77,073,792
Jack Henry & Associates, Inc.
  480,162   86,842,099
Juniper Networks, Inc.
  3,655,880   88,691,649
Western Union Co. (The)
  3,935,989   78,798,500
        750,431,168
Materials-1.01%
Linde PLC (United Kingdom)
  443,897   89,818,119
Real Estate-2.22%
Extra Space Storage, Inc.
  987,372   95,528,241
Public Storage
  498,291   101,023,517
        196,551,758
Utilities-5.70%
Alliant Energy Corp.
  1,735,507   85,664,626
American Electric Power Co., Inc.
  1,024,670   87,353,117
CMS Energy Corp.
  1,418,555   83,098,952
Duke Energy Corp.
  934,226   79,997,772
Invesco S&P 500® Low Volatility ETF (SPLV)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
Public Service Enterprise Group, Inc.
  1,715,439   $87,556,007
Xcel Energy, Inc.
  1,256,164   81,688,345
        505,358,819
TOTAL INVESTMENTS IN SECURITIES-99.92%

(Cost $8,559,316,938)
  8,863,330,572
OTHER ASSETS LESS LIABILITIES-0.08%
  7,202,787
NET ASSETS-100.00%
  $8,870,533,359
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.
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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* $-   $69,095,340   $(69,095,340)   $-   $-   $-   $12,616
Invesco Liquid Assets Portfolio, Institutional Class* -   23,000,691   (23,000,527)   -   (164)   -   1,612
Total $-   $92,096,031   $(92,095,867)   $-   $(164)   $-   $14,228
    
* At May 31, 2020, this security was no longer held.
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 500 Minimum Variance ETF (SPMV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.74%
Communication Services-4.74%
AT&T, Inc.
  4,485   $138,407
CenturyLink, Inc.
  904   8,886
Verizon Communications, Inc.
  2,329   133,638
        280,931
Consumer Discretionary-13.78%
Amazon.com, Inc.(b)
  59   144,100
Expedia Group, Inc.
  385   30,600
H&R Block, Inc.
  1,020   17,340
Home Depot, Inc. (The)
  340   84,483
McDonald’s Corp.
  752   140,113
NIKE, Inc., Class B
  1,297   127,858
Ralph Lauren Corp.
  181   13,667
Starbucks Corp.
  456   35,564
Tapestry, Inc.
  1,109   15,082
TJX Cos., Inc. (The)
  1,957   103,251
VF Corp.
  696   39,046
Yum! Brands, Inc.
  725   65,054
        816,158
Consumer Staples-12.40%
Campbell Soup Co.
  313   15,957
Clorox Co. (The)
  257   53,006
Coca-Cola Co. (The)
  1,349   62,971
Colgate-Palmolive Co.
  1,237   89,472
Conagra Brands, Inc.
  1,640   57,056
General Mills, Inc.
  1,756   110,698
Hershey Co. (The)
  88   11,940
Hormel Foods Corp.
  1,192   58,205
JM Smucker Co. (The)
  516   58,788
Kellogg Co.
  433   28,279
Kimberly-Clark Corp.
  177   25,035
McCormick & Co., Inc.
  509   89,157
Monster Beverage Corp.(b)
  180   12,944
Procter & Gamble Co. (The)
  497   57,612
Walgreens Boots Alliance, Inc.
  85   3,650
        734,770
Energy-2.68%
Chevron Corp.
  237   21,733
Diamondback Energy, Inc.
  233   9,921
Exxon Mobil Corp.
  1,437   65,341
Occidental Petroleum Corp.
  697   9,026
ONEOK, Inc.
  524   19,226
Williams Cos., Inc. (The)
  1,652   33,750
        158,997
Financials-9.69%
American International Group, Inc.
  149   4,479
Aon PLC, Class A
  208   40,966
Bank of America Corp.
  1,473   35,529
Berkshire Hathaway, Inc., Class B(b)
  732   135,844
Chubb Ltd.
  1,024   124,867
Citigroup, Inc.
  496   23,763
JPMorgan Chase & Co.
  77   7,493
Marsh & McLennan Cos., Inc.
  1,149   121,702
Progressive Corp. (The)
  844   65,562
Travelers Cos., Inc. (The)
  132   14,121
        574,326
Health Care-14.13%
Becton, Dickinson and Co.
  37   9,136
Cerner Corp.
  817   59,559
  Shares   Value
Health Care-(continued)
Cigna Corp.
  401   $79,125
CVS Health Corp.
  2,205   144,582
HCA Healthcare, Inc.
  224   23,946
Humana, Inc.
  33   13,552
Intuitive Surgical, Inc.(b)
  26   15,081
Johnson & Johnson
  756   112,455
Laboratory Corp. of America Holdings(b)
  241   42,252
Medtronic PLC
  997   98,284
Quest Diagnostics, Inc.
  329   38,914
Stryker Corp.
  232   45,409
UnitedHealth Group, Inc.
  481   146,633
Universal Health Services, Inc., Class B
  77   8,120
        837,048
Industrials-4.64%
Cintas Corp.
  145   35,954
Republic Services, Inc.
  1,053   89,989
Rollins, Inc.
  696   29,093
Waste Management, Inc.
  1,121   119,667
        274,703
Information Technology-21.20%
Accenture PLC, Class A
  701   141,336
Adobe, Inc.(b)
  407   157,346
Analog Devices, Inc.
  176   19,879
Apple, Inc.
  213   67,721
Applied Materials, Inc.
  89   5,000
Automatic Data Processing, Inc.
  257   37,648
Cisco Systems, Inc.
  689   32,948
Citrix Systems, Inc.
  361   53,471
Cognizant Technology Solutions Corp., Class A
  1,125   59,625
Global Payments, Inc.
  333   59,770
Intel Corp.
  1,900   119,567
Intuit, Inc.
  277   80,419
Micron Technology, Inc.(b)
  252   12,073
Microsoft Corp.
  784   143,668
NVIDIA Corp.
  52   18,461
Oracle Corp.
  336   18,067
QUALCOMM, Inc.
  1,372   110,967
salesforce.com, inc.(b)
  52   9,089
Texas Instruments, Inc.
  921   109,360
        1,256,415
Materials-2.82%
Corteva, Inc.
  1,065   29,085
Newmont Corp.
  2,360   137,989
        167,074
Real Estate-5.54%
American Tower Corp.
  396   102,235
Crown Castle International Corp.
  628   108,117
Host Hotels & Resorts, Inc.
  3,708   44,273
Prologis, Inc.
  441   40,352
Public Storage
  164   33,249
        328,226
Utilities-8.12%
Ameren Corp.
  245   18,309
American Electric Power Co., Inc.
  141   12,020
CenterPoint Energy, Inc.
  400   7,112
Consolidated Edison, Inc.
  85   6,380
Dominion Energy, Inc.
  729   61,972
DTE Energy Co.
  53   5,701
Duke Energy Corp.
  229   19,609
Invesco S&P 500 Minimum Variance ETF (SPMV)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
Eversource Energy
  336   $28,123
NextEra Energy, Inc.
  433   110,658
Public Service Enterprise Group, Inc.
  1,684   85,952
Sempra Energy
  64   8,084
Southern Co. (The)
  1,876   107,063
WEC Energy Group, Inc.
  113   10,366
        481,349
Total Common Stocks & Other Equity Interests

(Cost $5,558,839)
  5,909,997
  Shares   Value
Money Market Funds-0.03%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(c)(d)

(Cost $1,832)
  1,832   $1,832
TOTAL INVESTMENTS IN SECURITIES-99.77%

(Cost $5,560,671)
  5,911,829
OTHER ASSETS LESS LIABILITIES-0.23%
  13,770
NET ASSETS-100.00%
  $5,925,599
 
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) 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 $4,664   $63,554   $(66,386)   $-   $-   $1,832   $66
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 870   76,432   (77,302)   -   -   -   9
Invesco Liquid Assets Portfolio, Institutional Class* -   23,558   (23,558)   -   -   -   2
Invesco Private Government Fund* -   15,622   (15,622)   -   -   -   -
Total $5,534   $179,166   $(182,868)   $-   $-   $1,832   $77
    
* At May 31, 2020, this security was no longer held.
    
(d) 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.
Schedule of Investments(a)
Invesco S&P 500 Momentum ETF (SPMO)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Communication Services-6.21%
Activision Blizzard, Inc.
  4,066   $292,671
AT&T, Inc.
  34,693   1,070,626
Charter Communications, Inc., Class A(b)
  1,317   716,448
T-Mobile US, Inc.(b)
  1,743   174,370
        2,254,115
Consumer Discretionary-6.64%
CarMax, Inc.(b)
  978   86,113
Chipotle Mexican Grill, Inc.(b)
  116   116,453
D.R. Horton, Inc.
  2,044   113,033
Dollar General Corp.
  1,312   251,261
Home Depot, Inc. (The)
  5,228   1,299,053
Lennar Corp., Class A
  1,293   78,175
NVR, Inc.(b)
  21   67,654
PulteGroup, Inc.
  1,845   62,675
Target Corp.
  2,730   333,961
        2,408,378
Consumer Staples-12.86%
Brown-Forman Corp., Class B
  937   61,776
Campbell Soup Co.
  947   48,278
Coca-Cola Co. (The)
  21,156   987,562
Costco Wholesale Corp.
  2,797   862,791
Hershey Co. (The)
  986   133,780
Lamb Weston Holdings, Inc.
  683   41,021
Mondelez International, Inc., Class A
  5,823   303,495
PepsiCo, Inc.
  6,798   894,277
Procter & Gamble Co. (The)
  11,499   1,332,964
        4,665,944
Financials-4.81%
Aon PLC, Class A
  1,137   223,932
Arthur J. Gallagher & Co.
  1,040   98,051
Cboe Global Markets, Inc.
  499   53,124
Intercontinental Exchange, Inc.
  2,355   229,024
MarketAxess Holdings, Inc.
  178   90,529
Moody’s Corp.
  1,084   289,873
MSCI, Inc.
  678   222,960
S&P Global, Inc.
  1,513   491,755
W.R. Berkley Corp.
  760   44,042
        1,743,290
Health Care-3.26%
Cerner Corp.
  1,544   112,558
DaVita, Inc.(b)
  428   34,651
Edwards Lifesciences Corp.(b)
  811   182,248
Quest Diagnostics, Inc.
  723   85,516
ResMed, Inc.
  1,179   189,607
STERIS PLC
  517   85,765
Zoetis, Inc.
  3,534   492,604
        1,182,949
Industrials-5.19%
Allegion PLC
  517   51,545
Cintas Corp.
  463   114,806
Copart, Inc.(b)
  1,478   132,118
Equifax, Inc.
  706   108,413
Fortune Brands Home & Security, Inc.
  738   44,989
IHS Markit Ltd.
  2,856   198,378
Jacobs Engineering Group, Inc.
  698   58,646
Kansas City Southern
  627   94,376
Lockheed Martin Corp.
  1,282   497,980
Old Dominion Freight Line, Inc.
  468   80,070
  Shares   Value
Industrials-(continued)
Republic Services, Inc.
  1,067   $91,186
Trane Technologies PLC
  1,216   109,695
TransDigm Group, Inc.
  321   136,367
Verisk Analytics, Inc.
  940   162,319
        1,880,888
Information Technology-44.80%
Adobe, Inc.(b)
  2,566   992,016
Advanced Micro Devices, Inc.(b)
  8,101   435,834
Akamai Technologies, Inc.(b)
  757   80,091
ANSYS, Inc.(b)
  485   137,255
Apple, Inc.
  10,838   3,445,834
Applied Materials, Inc.
  5,514   309,776
Fidelity National Information Services, Inc.
  3,579   496,872
Fiserv, Inc.(b)
  3,018   322,232
Global Payments, Inc.
  2,083   373,878
KLA Corp.
  753   132,498
Lam Research Corp.
  1,037   283,796
Leidos Holdings, Inc.
  1,122   118,135
Mastercard, Inc., Class A
  4,689   1,410,873
Microsoft Corp.
  17,472   3,201,744
Motorola Solutions, Inc.
  697   94,325
NortonLifeLock, Inc.
  3,088   70,345
NVIDIA Corp.
  4,281   1,519,841
Paycom Software, Inc.(b)
  285   84,710
Qorvo, Inc.(b)
  565   59,178
QUALCOMM, Inc.
  5,857   473,714
ServiceNow, Inc.(b)
  882   342,154
Synopsys, Inc.(b)
  825   149,251
Visa, Inc., Class A
  8,542   1,667,740
Western Union Co. (The)
  2,277   45,585
        16,247,677
Materials-1.98%
Air Products and Chemicals, Inc.
  1,075   259,774
Ball Corp.
  1,689   120,358
Martin Marietta Materials, Inc.
  276   53,017
Newmont Corp.
  4,882   285,450
        718,599
Real Estate-5.83%
American Tower Corp.
  2,642   682,085
Crown Castle International Corp.
  2,042   351,551
Equinix, Inc.
  575   401,137
Mid-America Apartment Communities, Inc.
  750   87,270
Prologis, Inc.
  3,654   334,341
SBA Communications Corp., Class A
  818   256,959
        2,113,343
Utilities-8.30%
Alliant Energy Corp.
  1,154   56,961
Ameren Corp.
  1,069   79,886
American Electric Power Co., Inc.
  2,064   175,956
American Water Works Co., Inc.
  1,052   133,604
CMS Energy Corp.
  1,184   69,359
Entergy Corp.
  1,423   144,890
Evergy, Inc.
  1,335   82,356
Eversource Energy
  2,249   188,241
FirstEnergy Corp.
  2,151   90,901
NextEra Energy, Inc.
  4,242   1,084,086
Sempra Energy
  1,460   184,413
Southern Co. (The)
  6,687   381,627
Invesco S&P 500 Momentum ETF (SPMO)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Utilities-(continued)
WEC Energy Group, Inc.
  1,928   $176,855
Xcel Energy, Inc.
  2,452   159,454
        3,008,589
Total Common Stocks & Other Equity Interests

(Cost $32,596,362)
  36,223,772
Money Market Funds-0.03%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(c)(d)

(Cost $10,200)
  10,200   10,200
TOTAL INVESTMENTS IN SECURITIES-99.91%

(Cost $32,606,562)
  36,233,972
OTHER ASSETS LESS LIABILITIES-0.09%
  32,866
NET ASSETS-100.00%
  $36,266,838
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) 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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $11,512   $1,020,423   $(1,021,735)   $-   $-   $10,200   $475
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 35,166   1,639,525   (1,674,691)   -   -   -   235
Invesco Liquid Assets Portfolio, Institutional Class* 11,722   543,703   (555,395)   -   (30)   -   71
Total $58,400   $3,203,651   $(3,251,821)   $-   $(30)   $10,200   $781
    
* At May 31, 2020, this security was no longer held.
    
(d) 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.
Schedule of Investments(a)
Invesco S&P MidCap Low Volatility ETF (XMLV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Communication Services-3.56%
Cable One, Inc.
  13,728   $25,903,226
John Wiley & Sons, Inc., Class A
  755,131   30,356,266
New York Times Co. (The), Class A
  753,957   29,577,733
        85,837,225
Consumer Discretionary-6.29%
Columbia Sportswear Co.
  407,036   29,738,050
Gentex Corp.
  1,152,311   30,467,103
Grand Canyon Education, Inc.(b)
  293,662   28,658,475
Pool Corp.
  118,477   31,872,682
Service Corp. International
  791,745   31,218,505
        151,954,815
Consumer Staples-10.38%
Casey’s General Stores, Inc.
  171,639   27,415,897
Flowers Foods, Inc.
  1,503,167   35,459,710
Hain Celestial Group, Inc. (The)(b)
  945,672   29,769,755
Ingredion, Inc.
  333,494   28,090,200
Lancaster Colony Corp.
  178,612   27,409,797
Post Holdings, Inc.(b)
  392,876   34,203,785
Tootsie Roll Industries, Inc.(c)
  1,123,416   40,016,078
TreeHouse Foods, Inc.(b)
  534,040   28,149,248
        250,514,470
Financials-16.13%
Brown & Brown, Inc.
  844,298   33,940,780
Commerce Bancshares, Inc.
  451,154   28,752,044
FactSet Research Systems, Inc.
  98,759   30,369,380
Hanover Insurance Group, Inc. (The)
  332,162   33,332,457
Mercury General Corp.
  800,375   32,199,086
New York Community Bancorp, Inc.
  2,674,866   26,882,403
RenaissanceRe Holdings Ltd. (Bermuda)
  205,559   34,505,134
RLI Corp.
  365,175   28,834,218
SEI Investments Co.
  535,230   29,020,171
Selective Insurance Group, Inc.
  568,569   29,821,444
Trustmark Corp.
  1,108,385   26,368,479
UMB Financial Corp.
  555,432   28,482,553
Washington Federal, Inc.
  1,036,274   26,798,046
        389,306,195
Health Care-12.80%
Bio-Rad Laboratories, Inc., Class A(b)
  64,473   31,676,874
Bio-Techne Corp.
  126,554   33,511,499
Chemed Corp.
  66,432   31,788,376
Encompass Health Corp.
  418,498   30,654,979
Globus Medical, Inc., Class A(b)
  607,439   33,196,541
Hill-Rom Holdings, Inc.
  274,936   27,952,743
Integra LifeSciences Holdings Corp.(b)
  559,267   29,143,403
Masimo Corp.(b)
  140,013   33,629,723
Prestige Consumer Healthcare, Inc.(b)
  679,948   28,693,806
United Therapeutics Corp.(b)
  243,703   28,744,769
        308,992,713
Industrials-16.81%
Carlisle Cos., Inc.
  239,432   28,698,319
Donaldson Co., Inc.
  621,656   29,497,577
FTI Consulting, Inc.(b)
  218,310   26,297,622
Graco, Inc.
  610,185   29,417,019
Hubbell, Inc.
  211,869   25,937,003
Landstar System, Inc.
  268,747   31,244,526
Lennox International, Inc.
  159,650   34,139,556
Lincoln Electric Holdings, Inc.
  362,452   29,782,681
MSC Industrial Direct Co., Inc., Class A
  524,814   36,390,603
  Shares   Value
Industrials-(continued)
Toro Co. (The)
  515,754   $36,654,637
Valmont Industries, Inc.
  238,592   27,199,488
Watsco, Inc.
  219,889   39,120,452
Werner Enterprises, Inc.
  682,803   31,559,155
        405,938,638
Information Technology-7.44%
CACI International, Inc., Class A(b)
  104,950   26,319,361
CDK Global, Inc.
  704,213   27,682,613
CommVault Systems, Inc.(b)
  637,712   25,801,828
j2 Global, Inc.
  386,686   30,277,514
MAXIMUS, Inc.
  429,711   30,947,786
Tyler Technologies, Inc.(b)
  103,107   38,697,088
        179,726,190
Materials-9.70%
AptarGroup, Inc.
  326,131   36,327,732
Ashland Global Holdings, Inc.
  447,296   30,040,399
NewMarket Corp.
  85,275   37,190,986
RPM International, Inc.
  391,635   29,286,465
Sensient Technologies Corp.
  613,942   30,770,773
Silgan Holdings, Inc.
  1,232,497   41,214,700
Sonoco Products Co.
  568,671   29,462,845
        234,293,900
Real Estate-10.71%
Camden Property Trust
  311,154   28,492,372
CoreSite Realty Corp.
  252,064   31,462,628
Douglas Emmett, Inc.
  954,236   28,016,369
First Industrial Realty Trust, Inc.
  744,011   28,183,137
Healthcare Realty Trust, Inc.
  987,081   30,303,387
JBG SMITH Properties
  831,118   24,709,138
Kilroy Realty Corp.
  442,533   25,277,485
Life Storage, Inc.
  344,817   33,612,761
PS Business Parks, Inc.
  212,541   28,403,979
        258,461,256
Utilities-6.14%
Hawaiian Electric Industries, Inc.
  709,146   27,982,901
IDACORP, Inc.
  327,407   30,524,155
National Fuel Gas Co.
  761,895   31,976,733
OGE Energy Corp.
  999,096   31,291,687
Spire, Inc.
  364,024   26,544,630
        148,320,106
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $2,373,531,769)
  2,413,345,508
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.36%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $32,876,684)
  32,876,684   32,876,684
TOTAL INVESTMENTS IN SECURITIES-101.32%

(Cost $2,406,408,453)
  2,446,222,192
OTHER ASSETS LESS LIABILITIES-(1.32)%
  (31,772,543)
NET ASSETS-100.00%
  $2,414,449,649
Invesco S&P MidCap Low Volatility ETF (XMLV)—(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) 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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class* $-   $95,958,068   $(95,958,068)   $-   $-   $-   $28,115
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 39,847,925   130,685,403   (170,533,328)   -   -   -   388,623
Invesco Liquid Assets Portfolio, Institutional Class* 13,282,642   39,948,868   (53,227,199)   -   (4,311)   -   56,294
Invesco Private Government Fund -   80,084,604   (47,207,920)   -   -   32,876,684   412
Total $53,130,567   $346,676,943   $(366,926,515)   $-   $(4,311)   $32,876,684   $473,444
    
* 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 High Dividend Low Volatility ETF (XSHD)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.97%
Communication Services-6.91%
Cogent Communications Holdings, Inc.
  5,875   $449,555
E.W. Scripps Co. (The), Class A
  10,092   87,498
Marcus Corp. (The)
  7,745   104,402
Scholastic Corp.
  5,237   153,968
Spok Holdings, Inc.
  41,981   431,145
        1,226,568
Consumer Discretionary-4.53%
Cato Corp. (The), Class A
  53,310   517,107
Designer Brands, Inc., Class A
  46,951   287,810
        804,917
Consumer Staples-15.32%
Andersons, Inc. (The)
  13,045   169,063
B&G Foods, Inc.(b)
  51,515   1,196,178
Inter Parfums, Inc.
  2,541   117,928
Universal Corp.
  11,618   511,889
Vector Group Ltd.
  63,590   726,834
        2,721,892
Energy-2.58%
Archrock, Inc.
  72,183   458,362
Financials-16.27%
Apollo Commercial Real Estate Finance, Inc.
  41,402   340,738
ARMOUR Residential REIT, Inc.
  44,496   348,404
Granite Point Mortgage Trust, Inc.
  37,246   183,250
Invesco Mortgage Capital, Inc.(b)(c)
  48,094   133,220
KKR Real Estate Finance Trust, Inc.(b)
  30,250   489,748
New York Mortgage Trust, Inc.(b)
  132,877   276,384
PennyMac Mortgage Investment Trust
  27,454   302,269
Ready Capital Corp.
  49,515   290,653
Redwood Trust, Inc.
  31,152   166,663
Waddell & Reed Financial, Inc., Class A
  27,437   357,779
        2,889,108
Health Care-3.33%
Computer Programs & Systems, Inc.
  6,654   147,186
Luminex Corp.
  6,622   206,342
Meridian Bioscience, Inc.(d)
  15,448   238,826
        592,354
Industrials-9.86%
ABM Industries, Inc.
  7,074   217,384
Greenbrier Cos., Inc. (The)
  14,002   297,122
Hillenbrand, Inc.
  9,507   244,710
Mobile Mini, Inc.
  8,457   270,962
Park Aerospace Corp.
  17,691   214,592
Resources Connection, Inc.
  23,916   262,837
Wabash National Corp.
  25,514   243,659
        1,751,266
Information Technology-8.85%
Benchmark Electronics, Inc.
  5,428   115,019
  Shares   Value
Information Technology-(continued)
CSG Systems International, Inc.
  3,878   $183,623
Daktronics, Inc.
  68,438   290,177
Kulicke & Soffa Industries, Inc. (Singapore)
  7,247   162,043
MTS Systems Corp.
  5,514   97,101
Progress Software Corp.
  3,729   150,652
TTEC Holdings, Inc.
  4,455   188,714
Xperi Corp.
  27,921   383,914
        1,571,243
Materials-8.20%
Haynes International, Inc.
  10,276   234,601
Myers Industries, Inc.
  22,003   299,461
Neenah, Inc.
  4,371   220,998
PH Glatfelter Co.
  19,233   296,380
Schweitzer-Mauduit International, Inc., Class A
  13,343   405,494
        1,456,934
Real Estate-15.89%
Cedar Realty Trust, Inc.
  274,683   204,502
Chatham Lodging Trust
  47,255   318,971
Global Net Lease, Inc.
  41,110   576,773
Hersha Hospitality Trust
  62,903   317,031
Kite Realty Group Trust
  45,476   441,117
Office Properties Income Trust
  23,154   585,565
Whitestone REIT
  61,386   377,524
        2,821,483
Utilities-8.23%
American States Water Co.
  1,710   140,237
Avista Corp.
  7,477   292,874
California Water Service Group
  3,292   154,724
El Paso Electric Co.
  3,764   255,839
Northwest Natural Holding Co.
  3,948   253,106
South Jersey Industries, Inc.
  12,887   365,476
        1,462,256
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.97%

(Cost $24,830,722)
  17,756,383
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-9.72%
Invesco Private Government Fund, 0.02%(c)(e)(f)

(Cost $1,725,950)
  1,725,950   1,725,950
TOTAL INVESTMENTS IN SECURITIES-109.69%

(Cost $26,556,672)
  19,482,333
OTHER ASSETS LESS LIABILITIES-(9.69)%
  (1,721,232)
NET ASSETS-100.00%
  $17,761,101
Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD)—(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) All or a portion of this security was out on loan at May 31, 2020.
(c) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended 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. $679,191   $424,445   $(506,266)   $(484,943)   $20,793   $133,220   $70,733
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 964,427   13,511,252   (14,475,679)   -   -   -   9,780
Invesco Liquid Assets Portfolio, Institutional Class* 324,524   3,538,442   (3,862,879)   -   (87)   -   1,742
Invesco Private Government Fund -   3,576,034   (1,850,084)   -   -   1,725,950   21
Total $1,968,142   $21,050,173   $(20,694,908)   $(484,943)   $20,706   $1,859,170   $82,276
    
* At May 31, 2020, this security was no longer held.
    
(d) Non-income producing security.
(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 Low Volatility ETF (XSLV)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-1.52%
Cogent Communications Holdings, Inc.
  127,927   $9,788,974
Scholastic Corp.
  377,720   11,104,968
        20,893,942
Consumer Discretionary-6.18%
Dorman Products, Inc.(b)
  162,218   11,342,282
Ethan Allen Interiors, Inc.
  894,397   10,106,686
Gentherm, Inc.(b)
  285,618   11,624,653
Haverty Furniture Cos., Inc.
  760,270   13,152,671
Shutterstock, Inc.
  281,436   10,672,053
Standard Motor Products, Inc.
  297,427   12,655,519
Sturm Ruger & Co., Inc.
  244,588   15,247,616
        84,801,480
Consumer Staples-7.42%
Calavo Growers, Inc.
  195,878   11,460,822
Cal-Maine Foods, Inc.
  271,048   12,077,899
J&J Snack Foods Corp.
  80,195   10,315,483
John B. Sanfilippo & Son, Inc.
  135,593   11,788,455
National Beverage Corp.(b)(c)
  182,451   10,396,058
PriceSmart, Inc.
  161,555   8,785,361
Universal Corp.
  282,282   12,437,345
Vector Group Ltd.
  907,085   10,367,981
WD-40 Co.
  74,080   14,212,248
        101,841,652
Financials-24.46%
AMERISAFE, Inc.
  178,539   10,958,724
Brookline Bancorp, Inc.
  1,195,135   11,114,755
City Holding Co.
  199,697   12,560,941
Columbia Banking System, Inc.
  421,247   10,261,577
Community Bank System, Inc.
  196,151   11,655,292
CVB Financial Corp.
  591,219   11,534,683
Dime Community Bancshares, Inc.
  650,363   9,384,738
Employers Holdings, Inc.
  416,121   12,437,857
First Commonwealth Financial Corp.
  1,352,959   11,067,205
First Midwest Bancorp, Inc.
  883,922   11,535,182
HCI Group, Inc.
  296,178   13,283,583
Heritage Financial Corp.
  563,568   10,707,792
HomeStreet, Inc.
  425,588   10,137,506
Hope Bancorp, Inc.
  1,185,829   11,259,446
Horace Mann Educators Corp.
  317,386   11,590,937
Independent Bank Corp.
  159,863   11,105,683
National Bank Holdings Corp., Class A
  448,111   11,785,319
NBT Bancorp, Inc.
  378,187   11,844,817
Northfield Bancorp, Inc.
  1,000,459   10,935,017
Northwest Bancshares, Inc.
  1,292,346   12,871,766
Old National Bancorp
  933,243   12,682,772
ProAssurance Corp.
  508,215   7,013,367
S&T Bancorp, Inc.
  460,474   10,240,942
Safety Insurance Group, Inc.
  158,720   12,100,813
Southside Bancshares, Inc.
  384,483   10,842,421
Stewart Information Services Corp.
  358,698   11,055,072
Third Point Reinsurance Ltd. (Bermuda)(b)
  1,447,275   10,680,890
Tompkins Financial Corp.
  157,231   10,117,815
Waddell & Reed Financial, Inc., Class A
  839,202   10,943,194
Westamerica Bancorporation
  201,461   11,882,170
        335,592,276
Health Care-8.10%
AMN Healthcare Services, Inc.(b)
  221,650   9,832,394
Amphastar Pharmaceuticals, Inc.(b)
  615,289   11,468,987
Eagle Pharmaceuticals, Inc.(b)
  184,221   9,443,168
  Shares   Value
Health Care-(continued)
HealthStream, Inc.(b)
  459,647   $10,470,759
HMS Holdings Corp.(b)
  369,631   11,547,272
Luminex Corp.
  275,775   8,593,149
Natus Medical, Inc.(b)
  428,854   9,177,476
Neogen Corp.(b)
  157,302   11,203,048
Omnicell, Inc.(b)
  129,236   8,647,181
Orthofix Medical, Inc.(b)
  285,740   9,738,019
Pacira BioSciences, Inc.(b)
  248,742   10,932,211
        111,053,664
Industrials-20.32%
ABM Industries, Inc.
  311,809   9,581,891
Aerojet Rocketdyne Holdings, Inc.(b)
  240,026   10,525,140
Astec Industries, Inc.
  277,373   11,782,805
Brady Corp., Class A
  256,123   13,095,569
Encore Wire Corp.
  232,788   11,241,333
ESCO Technologies, Inc.
  140,948   11,643,714
Exponent, Inc.
  188,093   13,964,024
Federal Signal Corp.
  422,013   12,297,459
Forward Air Corp.
  245,714   12,207,071
Franklin Electric Co., Inc.
  205,180   10,406,730
Heartland Express, Inc.
  658,343   14,417,712
Heidrick & Struggles International, Inc.
  459,199   10,185,034
Hub Group, Inc., Class A(b)
  263,721   12,334,231
Lindsay Corp.
  109,535   10,287,527
Matson, Inc.
  346,835   9,909,076
National Presto Industries, Inc.
  144,278   12,983,577
Park Aerospace Corp.
  884,937   10,734,286
Resources Connection, Inc.
  1,091,045   11,990,585
Simpson Manufacturing Co., Inc.
  133,588   10,695,055
TrueBlue, Inc.(b)
  748,341   11,569,352
UniFirst Corp.
  68,295   12,279,441
US Ecology, Inc.
  336,244   11,321,335
Wabash National Corp.
  1,270,765   12,135,806
Watts Water Technologies, Inc., Class A
  135,069   11,232,338
        278,821,091
Information Technology-15.84%
Alarm.com Holdings, Inc.(b)
  232,088   10,975,442
Bottomline Technologies (DE), Inc.(b)
  245,999   12,447,549
CSG Systems International, Inc.
  268,789   12,727,159
DSP Group, Inc.(b)
  676,040   12,182,241
EVERTEC, Inc.
  382,819   11,147,689
Fabrinet (Thailand)(b)
  162,247   10,374,073
Insight Enterprises, Inc.(b)
  181,289   9,292,874
Knowles Corp.(b)
  744,018   11,190,031
Methode Electronics, Inc.
  335,501   10,517,956
MicroStrategy, Inc., Class A(b)
  94,181   11,723,651
NIC, Inc.
  440,056   10,587,747
OSI Systems, Inc.(b)
  174,268   13,204,286
PDF Solutions, Inc.(b)
  640,225   10,922,239
Progress Software Corp.
  327,805   13,243,322
Qualys, Inc.(b)
  122,364   14,111,017
Sanmina Corp.(b)
  353,541   9,407,726
SPS Commerce, Inc.(b)
  180,285   12,288,226
Sykes Enterprises, Inc.(b)
  406,945   11,093,321
Viavi Solutions, Inc.(b)
  857,165   9,934,542
        217,371,091
Materials-4.08%
Balchem Corp.
  128,302   12,913,596
H.B. Fuller Co.
  281,067   10,573,740
Haynes International, Inc.
  486,332   11,102,960
Invesco S&P SmallCap Low Volatility ETF (XSLV)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Materials-(continued)
Kaiser Aluminum Corp.
  149,783   $10,746,930
Neenah, Inc.
  209,346   10,584,534
        55,921,760
Real Estate-7.03%
Agree Realty Corp.
  168,807   10,596,015
Easterly Government Properties, Inc.
  498,442   12,495,941
Industrial Logistics Properties Trust
  643,870   12,072,563
Investors Real Estate Trust
  177,405   12,578,015
Lexington Realty Trust
  1,198,816   11,652,492
National Storage Affiliates Trust
  413,037   12,395,240
St. Joe Co. (The)(b)
  657,318   12,653,371
Washington REIT
  545,170   11,955,578
        96,399,215
Utilities-4.97%
American States Water Co.
  130,072   10,667,205
Avista Corp.
  251,319   9,844,165
California Water Service Group
  214,732   10,092,404
El Paso Electric Co.
  390,673   26,554,044
South Jersey Industries, Inc.
  388,824   11,027,048
        68,184,866
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.92%

(Cost $1,412,248,734)
  1,370,881,037
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.69%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $9,523,905)
  9,523,905   $9,523,905
TOTAL INVESTMENTS IN SECURITIES-100.61%

(Cost $1,421,772,639)
  1,380,404,942
OTHER ASSETS LESS LIABILITIES-(0.61)%
  (8,436,481)
NET ASSETS-100.00%
  $1,371,968,461
 
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
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Invesco Mortgage Capital, Inc.* $22,332,386   $8,995,419   $(8,717,328)   $1,658,726   $(24,269,203)   $-   $1,568,755
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class* 2,928,891   76,843,852   (79,772,743)   -   -   -   19,028
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 10,506,667   112,352,453   (122,859,120)   -   -   -   78,095
Invesco S&P SmallCap Low Volatility ETF (XSLV)—(continued)
May 31, 2020
(Unaudited)
  Value
August 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
May 31, 2020 		  Dividend
Income
Invesco Liquid Assets Portfolio, Institutional Class* $3,502,223   $32,279,536   $(35,779,143)   $-   $(2,616)   $-   $11,710
Invesco Private Government Fund -   26,042,261   (16,518,356)   -   -   9,523,905   77
Total $39,270,167   $256,513,521   $(263,646,690)   $1,658,726   $(24,271,819)   $9,523,905   $1,677,665
    
* 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 Quality ETF (XSHQ)
May 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.91%
Communication Services-1.08%
Glu Mobile, Inc.(b)
  5,804   $57,924
TechTarget, Inc.(b)
  1,275   35,050
        92,974
Consumer Discretionary-10.75%
American Public Education, Inc.(b)
  777   24,421
Buckle, Inc. (The)
  1,674   23,570
Cavco Industries, Inc.(b)
  420   79,880
Core-Mark Holding Co., Inc.
  2,353   65,837
Ethan Allen Interiors, Inc.
  1,295   14,634
Fossil Group, Inc.(b)(c)
  2,513   7,665
Fox Factory Holding Corp.(b)
  2,019   145,590
Gentherm, Inc.(b)
  1,639   66,707
Haverty Furniture Cos., Inc.
  897   15,518
Oxford Industries, Inc.
  841   35,843
PetMed Express, Inc.(c)
  1,352   48,807
Rent-A-Center, Inc.
  3,334   84,884
Shoe Carnival, Inc.(c)
  463   12,033
Shutterstock, Inc.
  1,079   40,916
Standard Motor Products, Inc.
  988   42,039
Steven Madden Ltd.
  4,623   108,733
Vera Bradley, Inc.(b)
  1,330   6,983
Winnebago Industries, Inc.
  1,856   100,966
        925,026
Consumer Staples-7.25%
Calavo Growers, Inc.
  847   49,558
Inter Parfums, Inc.
  951   44,136
J&J Snack Foods Corp.
  834   107,277
John B. Sanfilippo & Son, Inc.
  575   49,990
Medifast, Inc.(c)
  952   97,428
National Beverage Corp.(b)(c)
  624   35,556
PriceSmart, Inc.
  1,163   63,244
WD-40 Co.
  921   176,694
        623,883
Energy-0.79%
Dril-Quip, Inc.(b)
  1,751   53,213
Matrix Service Co.(b)
  1,373   15,130
        68,343
Financials-14.06%
AMERISAFE, Inc.
  1,165   71,508
Community Bank System, Inc.
  2,686   159,602
Eagle Bancorp, Inc.
  2,304   74,557
Employers Holdings, Inc.
  1,722   51,471
Flagstar Bancorp, Inc.
  1,946   57,018
Hanmi Financial Corp.
  1,765   15,938
Hope Bancorp, Inc.
  6,525   61,955
Piper Sandler Cos.
  1,068   63,696
Preferred Bank
  848   31,859
ProAssurance Corp.
  2,808   38,750
S&T Bancorp, Inc.
  1,982   44,080
Safety Insurance Group, Inc.
  799   60,916
ServisFirst Bancshares, Inc.
  3,055   106,558
Stewart Information Services Corp.
  1,317   40,590
Third Point Reinsurance Ltd. (Bermuda)(b)
  4,705   34,723
United Community Banks, Inc.
  4,593   89,793
United Fire Group, Inc.
  1,127   30,237
Waddell & Reed Financial, Inc., Class A
  4,635   60,440
Westamerica Bancorporation
  1,974   116,427
        1,210,118
  Shares   Value
Health Care-8.75%
Amphastar Pharmaceuticals, Inc.(b)
  1,834   $34,186
AngioDynamics, Inc.(b)
  2,170   22,156
CorVel Corp.(b)
  605   41,073
Eagle Pharmaceuticals, Inc.(b)
  491   25,168
HealthStream, Inc.(b)
  1,519   34,603
HMS Holdings Corp.(b)
  4,737   147,984
Integer Holdings Corp.(b)
  1,889   149,571
Lantheus Holdings, Inc.(b)
  2,044   28,064
LeMaitre Vascular, Inc.
  819   22,023
Medpace Holdings, Inc.(b)
  1,586   147,212
Mesa Laboratories, Inc.(c)
  203   53,643
OraSure Technologies, Inc.(b)
  3,242   47,139
        752,822
Industrials-27.72%
AAON, Inc.
  2,185   118,361
Albany International Corp., Class A
  1,684   101,545
Brady Corp., Class A
  2,867   146,590
Encore Wire Corp.
  1,086   52,443
Exponent, Inc.
  2,741   203,492
Federal Signal Corp.
  3,441   100,271
Forrester Research, Inc.(b)
  498   15,637
Forward Air Corp.
  1,547   76,855
Franklin Electric Co., Inc.
  2,006   101,744
Gibraltar Industries, Inc.(b)
  1,758   77,370
Harsco Corp.(b)
  4,614   51,492
Heartland Express, Inc.
  2,864   62,722
Hillenbrand, Inc.
  4,130   106,306
John Bean Technologies Corp.
  1,574   129,304
Kaman Corp.
  1,806   72,240
Kelly Services, Inc., Class A
  1,709   25,618
Korn Ferry
  3,319   100,433
Marten Transport Ltd.
  2,066   52,869
National Presto Industries, Inc.
  315   28,347
Park Aerospace Corp.
  1,722   20,888
Proto Labs, Inc.(b)
  1,439   181,818
Raven Industries, Inc.
  1,919   41,162
Simpson Manufacturing Co., Inc.
  2,412   193,105
TrueBlue, Inc.(b)
  2,171   33,564
UniFirst Corp.
  800   143,840
Wabash National Corp.
  2,759   26,348
Watts Water Technologies, Inc., Class A
  1,463   121,663
        2,386,027
Information Technology-19.19%
Alarm.com Holdings, Inc.(b)
  2,194   103,754
Badger Meter, Inc.
  1,677   102,616
Brooks Automation, Inc.
  4,858   194,174
Daktronics, Inc.
  1,946   8,251
Digi International, Inc.(b)
  1,541   17,151
Diodes, Inc.(b)
  2,107   102,484
EVERTEC, Inc.
  3,475   101,192
Fabrinet (Thailand)(b)
  1,802   115,220
Insight Enterprises, Inc.(b)
  1,765   90,474
Kulicke & Soffa Industries, Inc. (Singapore)
  3,556   79,512
NETGEAR, Inc.(b)
  1,905   49,016
Onto Innovation, Inc.(b)
  2,744   85,284
Power Integrations, Inc.
  1,832   198,497
Progress Software Corp.
  2,590   104,636
Sanmina Corp.(b)
  3,618   96,275
SMART Global Holdings, Inc.(b)
  687   18,398
Invesco S&P SmallCap Quality ETF (XSHQ)—(continued)
May 31, 2020
(Unaudited)
  Shares   Value
Information Technology-(continued)
TTEC Holdings, Inc.
  981   $41,555
Viavi Solutions, Inc.(b)
  12,368   143,345
        1,651,834
Materials-7.36%
Balchem Corp.
  1,674   168,488
FutureFuel Corp.
  1,702   22,262
Hawkins, Inc.
  470   20,163
Haynes International, Inc.
  708   16,164
Innospec, Inc.
  1,349   103,994
Kaiser Aluminum Corp.
  848   60,844
Myers Industries, Inc.
  2,437   33,168
Neenah, Inc.
  918   46,414
Stepan Co.
  1,027   99,783
Tredegar Corp.
  1,463   22,398
Warrior Met Coal, Inc.
  2,808   39,537
        633,215
Real Estate-2.96%
Lexington Realty Trust
  15,761   153,197
Washington REIT
  4,617   101,251
        254,448
Total Common Stocks & Other Equity Interests

(Cost $8,825,924)
  8,598,690
  Shares   Value
Money Market Funds-0.08%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.10%(d)(e)

(Cost $6,730)
  6,730   $6,730
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $8,832,654)
  8,605,420
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.73%
Invesco Private Government Fund, 0.02%(d)(e)(f)

(Cost $149,314)
  149,314   149,314
TOTAL INVESTMENTS IN SECURITIES-101.72%

(Cost $8,981,968)
  8,754,734
OTHER ASSETS LESS LIABILITIES-(1.72)%
  (147,942)
NET ASSETS-100.00%
  $8,606,792
 
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 $5,387   $156,084   $(154,741)   $-   $-   $6,730   $80
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class* 94,278   997,751   (1,092,029)   -   -   -   588
Invesco Liquid Assets Portfolio, Institutional Class* 31,426   236,642   (268,074)   -   6   -   98
Invesco Private Government Fund -   318,332   (169,018)   -   -   149,314   1
Total $131,091   $1,708,809   $(1,683,862)   $-   $6   $156,044   $767
    
* 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.
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 each Fund 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 Russell 1000 Enhanced Equal Weight ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $2,518,472   $-   $-   $2,518,472
Money Market Funds 2,439   49,203   -   51,642
Total Investments $2,520,911   $49,203   $-   $2,570,114
Invesco Russell 1000 Equal Weight ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $401,739,695   $-   $-   $401,739,695
Money Market Funds 115,388   17,185,209   -   17,300,597
Total Investments $401,855,083   $17,185,209   $-   $419,040,292
Invesco Russell 1000 Low Beta Equal Weight ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $9,215,652   $-   $-   $9,215,652
Money Market Funds 1,363   230,398   -   231,761
Total Investments $9,217,015   $230,398   $-   $9,447,413
Invesco S&P 500 Enhanced Value ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $69,624,041   $-   $-   $69,624,041
Money Market Funds 64,074   236,101   -   300,175
Total Investments $69,688,115   $236,101   $-   $69,924,216
Invesco S&P 500® High Beta ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $92,892,939   $-   $-   $92,892,939
Money Market Funds 56,549   823,804   -   880,353
Total Investments $92,949,488   $823,804   $-   $93,773,292
Invesco S&P MidCap Low Volatility ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $2,413,345,508   $-   $-   $2,413,345,508
Money Market Funds -   32,876,684   -   32,876,684
Total Investments $2,413,345,508   $32,876,684   $-   $2,446,222,192
  Level 1   Level 2   Level 3   Total
Invesco S&P SmallCap High Dividend Low Volatility ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $17,756,383   $-   $-   $17,756,383
Money Market Funds -   1,725,950   -   1,725,950
Total Investments $17,756,383   $1,725,950   $-   $19,482,333
Invesco S&P SmallCap Low Volatility ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,370,881,037   $-   $-   $1,370,881,037
Money Market Funds -   9,523,905   -   9,523,905
Total Investments $1,370,881,037   $9,523,905   $-   $1,380,404,942
Invesco S&P SmallCap Quality ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $8,598,690   $-   $-   $8,598,690
Money Market Funds 6,730   149,314   -   156,044
Total Investments $8,605,420   $149,314   $-   $8,754,734
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.