NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco China Technology ETF (CQQQ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.08%
Capital Markets-0.59%
Hithink RoyalFlush Information Network Co. Ltd., A Shares (China)
  258,500   $5,299,630
Diversified Financial Services-0.00%
Zhengqi Financial Holding Corp., Rts., TBA (China)(b)(c)
  122,862   0
Electrical Equipment-0.46%
Qingdao TGOOD Electric Co. Ltd., A Shares (China)
  479,718   1,446,818
Sieyuan Electric Co. Ltd., A Shares (China)
  365,420   1,481,680
Suzhou Anjie Technology Co. Ltd., A Shares (China)(b)
  331,600   1,214,845
        4,143,343
Electronic Equipment, Instruments & Components-17.23%
All Winner Technology Co. Ltd., A Shares (China)
  136,423   801,396
Avary Holding Shenzhen Co. Ltd., A Shares (China)
  397,056   2,901,333
BOE Technology Group Co. Ltd., A Shares (China)
  16,284,974   10,896,315
BOE Technology Group Co. Ltd., B Shares (China)
  6,431,139   2,472,813
Chaozhou Three-Circle Group Co. Ltd., A Shares (China)
  838,190   3,437,065
Guangdong Ellington Electronics Technology Co. Ltd., A Shares (China)
  325,700   473,652
Guangzhou Shiyuan Electronic Technology Co. Ltd., A Shares (China)
  112,300   1,671,910
Hangzhou Century Co. Ltd., A Shares (China)
  417,960   777,892
Hangzhou Hikvision Digital Technology Co. Ltd., A Shares (China)
  4,490,705   23,799,868
Hengdian Group DMEGC Magnetics Co. Ltd., A Shares (China)
  790,300   1,337,265
Leyard Optoelectronic Co. Ltd., A Shares (China)
  1,223,000   1,261,638
Lingyi iTech Guangdong Co., A Shares (China)(b)
  3,282,500   5,577,828
NAURA Technology Group Co. Ltd., A Shares (China)
  237,857   7,105,209
OFILM Group Co. Ltd., A Shares (China)
  1,304,573   3,635,496
Shengyi Technology Co. Ltd., A Shares (China)
  1,094,698   4,512,424
Shennan Circuits Co. Ltd., A Shares (China)
  82,364   1,818,982
Shenzhen Everwin Precision Technology Co. Ltd., A Shares (China)
  437,700   1,484,398
Shenzhen Kinwong Electronic Co. Ltd., A Shares (China)
  172,120   880,884
Sunny Optical Technology Group Co. Ltd. (China)
  3,212,967   60,485,134
Tianma Microelectronics Co. Ltd., A Shares (China)
  984,800   2,371,873
Tunghsu Optoelectronic Technology Co. Ltd., A Shares (China)(b)
  2,635,400   1,057,256
Unisplendour Corp. Ltd., A Shares (China)(b)
  456,056   2,861,989
Universal Scientific Industrial Shanghai Co. Ltd., A Shares (China)
  395,300   1,371,189
Westone Information Industry, Inc., A Shares (China)
  403,100   1,264,254
Wuhan Guide Infrared Co. Ltd., A Shares (China)
  765,449   4,278,267
  Shares   Value
Electronic Equipment, Instruments & Components-(continued)
WUS Printed Circuit Kunshan Co. Ltd., A Shares (China)
  829,400   $2,859,140
Xiamen Meiya Pico Information Co. Ltd., A Shares (China)
  387,280   1,137,508
Zhejiang Crystal-Optech Co. Ltd., A Shares (China)
  585,470   1,346,342
        153,879,320
Entertainment-11.25%
Hangzhou Shunwang Technology Co. Ltd., A Shares (China)
  334,100   1,167,519
NetEase, Inc., ADR (China)
  129,687   59,451,115
Tencent Music Entertainment Group, ADR (China)(b)
  2,467,216   39,820,866
        100,439,500
Health Care Technology-0.38%
Winning Health Technology Group Co. Ltd., A Shares (China)
  1,026,399   3,394,124
Interactive Media & Services-33.35%
58.com, Inc., ADR (China)(b)
  609,124   33,727,196
Autohome, Inc., ADR (China)
  363,603   31,869,803
Baidu, Inc., ADR (China)(b)
  522,008   62,327,755
JOYY, Inc., ADR (China)(b)
  367,049   29,297,851
Momo, Inc., ADR (China)
  1,065,352   19,677,051
SINA Corp. (China)(b)
  383,499   15,474,185
Tencent Holdings Ltd. (China)
  1,333,296   91,866,025
Weibo Corp., ADR (China)(b)(d)
  390,214   13,485,796
        297,725,662
Internet & Direct Marketing Retail-8.86%
Meituan Dianping, B Shares (China)(b)
  3,195,559   79,124,122
IT Services-6.72%
Beijing Lanxum Technology Co. Ltd., A Shares (China)(b)
  417,400   1,353,358
Beijing Ultrapower Software Co. Ltd., A Shares (China)(b)
  943,100   917,494
China TransInfo Technology Co. Ltd., A Shares (China)
  461,071   1,549,124
DHC Software Co. Ltd., A Shares (China)
  1,498,100   2,614,350
GDS Holdings Ltd., ADR (China)(b)(d)
  451,254   36,231,184
Taiji Computer Corp. Ltd., A Shares (China)
  276,373   1,292,473
TravelSky Technology Ltd., H Shares (China)
  6,407,324   12,318,279
Wangsu Science & Technology Co. Ltd., A Shares (China)
  1,170,645   1,502,827
Wonders Information Co. Ltd., A Shares (China)(b)
  571,100   2,194,556
        59,973,645
Machinery-0.29%
Han’s Laser Technology Industry Group Co. Ltd., A Shares (China)
  458,500   2,625,068
Media-1.77%
China Literature Ltd. (China)(b)(d)(e)
  1,476,544   9,706,836
Focus Media Information Technology Co. Ltd., A Shares (China)
  7,058,719   6,128,782
        15,835,618
Metals & Mining-0.12%
Shenghe Resources Holding Co. Ltd., A Shares (China)(b)
  843,909   1,030,175
Pharmaceuticals-0.00%
Anxin-China Holdings Ltd. (China)(b)(c)
  2,144,054   0
See accompanying notes which are an integral part of this schedule.
Invesco China Technology ETF (CQQQ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Real Estate Management & Development-0.12%
Shenzhen Huaqiang Industry Co. Ltd., A Shares (China)
  467,020   $1,082,654
Semiconductors & Semiconductor Equipment-5.15%
Gigadevice Semiconductor Beijing, Inc., A Shares (China)
  216,103   7,167,826
LONGi Green Energy Technology Co. Ltd., A Shares (China)
  1,814,132   14,763,622
Sanan Optoelectronics Co. Ltd., A Shares (China)
  1,961,415   7,570,817
SG Micro Corp., A Shares (China)
  74,850   3,892,908
Shenzhen Goodix Technology Co. Ltd., A Shares (China)
  86,200   2,570,747
Tianjin Zhonghuan Semiconductor Co. Ltd., A Shares (China)
  1,339,625   4,669,830
Unigroup Guoxin Microelectronics Co. Ltd., A Shares (China)
  291,900   5,304,763
        45,940,513
Software-11.75%
Beijing Orient National Communication Science & Technology Co. Ltd., A Shares (China)
  508,000   1,004,427
Beijing Shiji Information Technology Co. Ltd., A Shares (China)
  513,603   2,704,336
Bluedon Information Security Technology Co. Ltd., A Shares (China)(b)
  601,200   347,997
China National Software & Service Co. Ltd., A Shares (China)
  237,700   3,229,955
Glodon Co. Ltd., A Shares (China)
  542,625   5,949,866
Hundsun Technologies, Inc., A Shares (China)
  502,197   7,881,028
Iflytek Co. Ltd., A Shares (China)
  1,057,400   5,547,960
Kingdee International Software Group Co. Ltd. (China)(b)(d)
  15,297,705   42,240,315
Link Motion, Inc., ADR (China)(b)(c)
  367,331   0
National Agricultural Holdings Ltd., ADR (Hong Kong)(b)(c)
  534,446   0
Newland Digital Technology Co. Ltd., A Shares (China)
  505,800   1,252,271
NSFOCUS Technologies Group Co. Ltd., A Shares (China)
  356,500   1,125,763
OneConnect Financial Technology Co. Ltd., ADR (China)(b)(d)
  216,404   5,176,384
Sangfor Technologies, Inc., A Shares (China)
  69,600   2,132,725
Shanghai 2345 Network Holding Group Co. Ltd., A Shares (China)
  1,611,500   713,451
Shanghai Baosight Software Co. Ltd., A Shares (China)
  248,593   2,537,754
  Shares   Value
Software-(continued)
Shanghai Baosight Software Co. Ltd., B Shares (China)
  2,043,310   $5,271,740
Shenzhen Infogem Technologies Co. Ltd., A Shares (China)(b)
  339,600   1,125,918
Shenzhen Kingdom Sci-Tech Co. Ltd., A Shares (China)
  413,700   1,154,649
Thunder Software Technology Co. Ltd., A Shares (China)
  172,800   2,401,547
Venustech Group, Inc., A Shares (China)
  449,035   2,539,996
Yonyou Network Technology Co. Ltd., A Shares (China)
  1,562,323   10,525,170
        104,863,252
Technology Hardware, Storage & Peripherals-2.04%
China Greatwall Technology Group Co. Ltd., A Shares (China)
  1,408,046   3,691,846
Dawning Information Industry Co. Ltd., A Shares (China)
  559,000   3,554,470
Inspur Electronic Information Industry Co. Ltd., A Shares (China)
  693,158   3,769,937
Legend Holdings Corp., H Shares (China)(d)(e)
  3,544,619   4,601,026
Shenzhen Kaifa Technology Co. Ltd., A Shares (China)
  707,617   2,562,000
        18,179,279
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.08%

(Cost $702,030,655)
  893,535,905
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.16%
Invesco Private Government Fund, 0.06%(f)(g)(h)
  27,895,322   27,895,322
Invesco Private Prime Fund, 0.15%(f)(g)(h)
  9,296,581   9,298,440
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $37,193,763)
  37,193,762
TOTAL INVESTMENTS IN SECURITIES-104.24%

(Cost $739,224,418)
  930,729,667
OTHER ASSETS LESS LIABILITIES-(4.24)%
  (37,898,749)
NET ASSETS-100.00%
  $892,830,918
    
 
See accompanying notes which are an integral part of this schedule.
Invesco China Technology ETF (CQQQ)—(continued)
July 31, 2020
(Unaudited)
Investment Abbreviations:
ADR -American Depositary Receipt
Rts. -Rights
TBA -To Be Announced
    
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) Security valued using significant unobservable inputs (Level 3). See Note 1.
(d) All or a portion of this security was out on loan at July 31, 2020.
(e) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $14,307,862, which represented 1.60% of the Fund’s Net Assets.
(f) 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $42,598,541   $(42,598,541)   $-   $-   $-   $1,192
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 20,515,711   78,632,399   (99,148,110)   -   -   -   89,943
Invesco Liquid Assets Portfolio, Institutional Class 6,838,570   18,843,773   (25,681,509)   (395)   (439)   -   33,931
Invesco Private Government Fund -   100,023,846   (72,128,524)   -   -   27,895,322   2,039
Invesco Private Prime Fund -   22,087,839   (12,790,096)   (1)   698   9,298,440   1,215
Total $27,354,281   $262,186,398   $(252,346,780)   $(396)   $259   $37,193,762   $128,320
    
(g) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(h) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
    
This Fund has holdings greater than 10% of net assets in the following country:  
China 100.08%
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco DWA Developed Markets Momentum ETF (PIZ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.07%
Australia-7.31%
Afterpay Ltd.(a)
  19,419   $954,511
CSL Ltd.
  16,771   3,248,581
Evolution Mining Ltd.
  321,169   1,358,926
Ramsay Health Care Ltd.
  87,184   3,875,239
Sonic Healthcare Ltd.
  36,214   833,665
        10,270,922
Belgium-0.64%
Sofina S.A.
  3,204   901,718
Canada-8.31%
Alimentation Couche-Tard, Inc., Class B
  53,625   1,863,564
Canadian National Railway Co.
  23,300   2,275,903
Canadian Pacific Railway Ltd.
  2,716   746,915
Constellation Software, Inc.
  3,296   3,898,532
Dollarama, Inc.
  25,922   947,861
Open Text Corp.
  23,567   1,060,735
Royal Bank of Canada
  12,816   884,060
        11,677,570
Denmark-8.50%
Chr. Hansen Holding A/S
  6,855   780,331
DSV Panalpina A/S
  7,365   1,013,782
GN Store Nord A/S
  34,707   2,124,193
Novo Nordisk A/S, Class B
  40,881   2,705,864
Novozymes A/S, Class B
  18,482   1,107,397
Royal Unibrew A/S(a)
  41,493   4,204,208
        11,935,775
Finland-6.19%
Huhtamaki OYJ(a)
  18,139   810,786
Kone OYJ, Class B
  55,369   4,402,461
Neste OYJ
  29,147   1,340,051
Sampo OYJ, Class A
  59,034   2,141,002
        8,694,300
France-3.05%
Dassault Systemes SE
  4,566   832,031
Hermes International
  834   676,734
LVMH Moet Hennessy Louis Vuitton SE
  1,668   723,381
Safran S.A.(a)
  7,548   798,298
Teleperformance
  4,283   1,252,487
        4,282,931
Germany-3.54%
adidas AG(a)
  6,529   1,805,835
Hannover Rueck SE
  4,259   722,201
Puma SE(a)
  9,078   706,775
SAP SE
  5,046   798,251
Symrise AG
  7,492   939,527
        4,972,589
Hong Kong-0.87%
Techtronic Industries Co. Ltd.
  116,320   1,214,950
Ireland-1.57%
Kingspan Group PLC
  20,997   1,508,359
Smurfit Kappa Group PLC
  20,867   702,257
        2,210,616
Israel-1.62%
Nice Ltd.(a)
  11,159   2,270,339
Italy-0.58%
Interpump Group S.p.A.
  24,676   807,685
  Shares   Value
Japan-13.65%
Advantest Corp.
  15,184   $818,583
Asahi Intecc Co. Ltd.
  87,651   2,443,915
Chugai Pharmaceutical Co. Ltd.
  13,438   601,933
Daifuku Co. Ltd.
  19,190   1,724,250
Daiichi Sankyo Co. Ltd.
  9,092   796,120
Daikin Industries Ltd.
  4,494   784,208
Hikari Tsushin, Inc.
  6,074   1,309,819
Hoya Corp.
  7,085   698,247
Japan Exchange Group, Inc.
  31,348   741,228
Keyence Corp.
  2,126   889,168
Kikkoman Corp.
  14,106   655,736
MISUMI Group, Inc.
  27,164   640,755
Nexon Co. Ltd.
  54,535   1,408,120
Nippon Shinyaku Co. Ltd.
  9,698   745,718
Nissan Chemical Corp.
  13,322   696,781
Obic Co. Ltd.
  5,235   936,289
SMC Corp.
  1,362   709,405
Sony Corp.
  10,262   783,845
TIS, Inc.
  38,596   829,378
Tokyo Electron Ltd.
  3,526   960,454
        19,173,952
Luxembourg-0.91%
Eurofins Scientific SE(a)
  1,966   1,282,822
Netherlands-6.29%
argenx SE(a)
  12,490   2,885,945
ASM International N.V.
  17,161   2,596,474
ASML Holding N.V.
  7,276   2,578,580
Koninklijke Ahold Delhaize N.V.
  26,627   770,473
        8,831,472
New Zealand-3.90%
a2 Milk Co. Ltd.(a)
  256,348   3,558,769
Fisher & Paykel Healthcare Corp. Ltd.
  46,991   1,126,910
Xero Ltd.(a)
  12,296   793,098
        5,478,777
Norway-0.48%
Mowi ASA
  37,421   675,147
Sweden-7.82%
AAK AB(a)
  46,807   828,656
Assa Abloy AB, Class B
  33,621   736,905
Atlas Copco AB, Class A
  18,038   798,141
Fastighets AB Balder, Class B(a)
  78,843   3,255,989
Hexagon AB, Class B(a)
  19,511   1,269,204
Investor AB, Class B
  15,059   889,699
Nibe Industrier AB, Class B(a)
  67,990   1,632,889
Svenska Cellulosa AB S.C.A., Class B(a)
  59,373   718,401
Swedish Match AB
  11,016   847,874
        10,977,758
Switzerland-14.48%
EMS-Chemie Holding AG
  1,238   1,070,338
Geberit AG
  3,601   1,991,891
Givaudan S.A.
  401   1,657,866
Kuehne + Nagel International AG(a)
  14,844   2,560,211
Logitech International S.A.
  15,583   1,135,365
Lonza Group AG
  2,354   1,471,347
Novartis AG
  23,529   1,951,999
Partners Group Holding AG
  1,460   1,414,260
Schindler Holding AG, PC
  6,609   1,674,590
SGS S.A.
  629   1,653,225
Sika AG
  5,593   1,232,710
See accompanying notes which are an integral part of this schedule.
Invesco DWA Developed Markets Momentum ETF (PIZ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Switzerland-(continued)
Straumann Holding AG
  938   $923,668
Temenos AG
  6,386   947,686
Vifor Pharma AG
  4,581   647,846
        20,333,002
United Kingdom-10.36%
Croda International PLC(b)
  35,261   2,651,847
Experian PLC
  20,506   720,491
Halma PLC
  32,175   919,762
HomeServe PLC
  46,076   803,105
Intermediate Capital Group PLC
  62,666   1,107,895
JD Sports Fashion PLC
  179,479   1,426,588
Rentokil Initial PLC
  110,945   777,877
Rightmove PLC
  251,948   1,829,331
Spirax-Sarco Engineering PLC
  23,913   3,235,876
UNITE Group PLC (The)
  87,296   1,075,868
        14,548,640
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.07%

(Cost $113,589,599)
  140,540,965
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.48%
Invesco Private Government Fund, 0.06%(c)(d)(e)
  1,560,249   $1,560,249
Invesco Private Prime Fund, 0.15%(c)(d)(e)
  519,979   520,083
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,080,332)
  2,080,332
TOTAL INVESTMENTS IN SECURITIES-101.55%

(Cost $115,669,931)
  142,621,297
OTHER ASSETS LESS LIABILITIES-(1.55)%
  (2,174,712)
NET ASSETS-100.00%
  $140,446,585
 
Investment Abbreviations:
PC-Participation Certificate
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $1,993,224   $(1,993,224)   $-   $-   $-   $293
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 5,208,612   30,794,022   (36,002,634)   -   -   -   33,202
Invesco Liquid Assets Portfolio, Institutional Class 1,736,204   7,292,953   (9,028,475)   (74)   (608)   -   12,834
Invesco Private Government Fund -   15,101,631   (13,541,382)   -   -   1,560,249   230
Invesco Private Prime Fund -   2,050,025   (1,530,024)   -   82   520,083   113
Total $6,944,816   $57,231,855   $(62,095,739)   $(74)   $(526)   $2,080,332   $46,672
    
(d) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(e) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco DWA Emerging Markets Momentum ETF (PIE)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.45%
Brazil-3.60%
B2W Cia Digital(a)
  78,900   $1,808,435
B2W Cia Digital, Rts., expiring August 25, 2020(a)
  5,051   6,792
Cia Paranaense de Energia, Class B, Preference Shares
  62,300   794,397
Natura & Co. Holding S.A.
  93,000   840,355
Notre Dame Intermedica Participacoes S.A.
  59,900   768,167
WEG S.A.
  83,400   1,078,987
        5,297,133
China-37.60%
Alibaba Group Holding Ltd., ADR(a)
  3,360   843,427
Alibaba Health Information Technology Ltd.(a)
  612,793   1,692,056
Anhui Conch Cement Co. Ltd., H Shares
  112,817   852,292
ANTA Sports Products Ltd.
  339,975   3,224,196
Ausnutria Dairy Corp. Ltd.(a)
  1,147,768   1,922,277
China Jinmao Holdings Group Ltd.
  1,734,045   1,179,120
China Merchants Bank Co. Ltd., H Shares
  178,091   830,687
China Resources Beer Holdings Co. Ltd.
  246,749   1,716,055
China Resources Cement Holdings Ltd.
  874,558   1,196,139
China Yongda Automobiles Services Holdings Ltd.
  595,187   612,067
Country Garden Services Holdings Co. Ltd.
  223,434   1,347,777
ENN Energy Holdings Ltd.
  62,778   760,607
Huazhu Group Ltd., ADR(b)
  50,526   1,734,557
Innovent Biologics, Inc.(a)(c)
  121,611   745,338
Kingdee International Software Group Co. Ltd.(a)
  688,608   1,901,397
Kingsoft Corp. Ltd.(b)
  193,619   985,558
KWG Group Holdings Ltd.
  455,026   810,219
Li Ning Co. Ltd.
  574,447   1,849,301
Longfor Group Holdings Ltd.(c)
  236,939   1,170,907
Meituan Dianping, B Shares(a)
  45,081   1,116,235
New Oriental Education & Technology Group, Inc., ADR(a)
  18,231   2,555,986
Ping An Insurance (Group) Co. of China Ltd., H Shares
  83,170   881,043
Semiconductor Manufacturing International Corp.(a)
  296,531   1,142,093
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares
  456,113   1,159,380
Silergy Corp.
  20,000   1,198,177
Sinotruk Hong Kong Ltd.
  625,850   1,950,179
TAL Education Group, ADR(a)
  55,705   4,354,460
Tencent Holdings Ltd.
  66,088   4,553,559
Times China Holdings Ltd.
  893,573   1,581,872
Vipshop Holdings Ltd., ADR(a)
  50,866   1,158,219
Weichai Power Co. Ltd., H Shares
  453,648   978,684
Wuxi Biologics Cayman, Inc.(a)(c)
  66,173   1,362,702
Xinyi Solar Holdings Ltd.
  994,178   1,087,795
Yihai International Holding Ltd.(a)
  348,974   4,275,384
ZTE Corp., H Shares
  227,983   673,635
        55,403,380
Hungary-0.49%
OTP Bank Nyrt(a)
  20,334   725,303
India-1.14%
WNS (Holdings) Ltd., ADR(a)
  26,371   1,686,689
Indonesia-1.40%
PT Bank Central Asia Tbk
  964,289   2,060,672
  Shares   Value
Malaysia-7.54%
Fraser & Neave Holdings Bhd.
  99,100   $759,611
Hartalega Holdings Bhd.
  1,385,600   6,627,351
QL Resources Bhd.
  924,400   2,127,864
Top Glove Corp. Bhd.
  260,700   1,591,254
        11,106,080
Mexico-0.53%
Qualitas Controladora S.A.B. de C.V.
  192,121   778,371
Philippines-1.08%
SM Investments Corp.
  87,764   1,589,410
South Africa-4.73%
Anglo American Platinum Ltd.
  12,566   962,347
Impala Platinum Holdings Ltd.
  237,691   2,106,016
Naspers Ltd., Class N
  16,048   2,966,120
Northam Platinum Ltd.(a)
  119,752   942,545
        6,977,028
Taiwan-33.11%
Chailease Holding Co. Ltd.
  429,000   1,793,937
Cheng Loong Corp.
  1,171,000   927,382
Chong Hong Construction Co. Ltd.
  267,000   815,733
Chunghwa Telecom Co. Ltd.
  207,000   773,746
Compeq Manufacturing Co. Ltd.
  470,000   778,132
CTBC Financial Holding Co. Ltd.
  1,072,000   709,922
E.Sun Financial Holding Co. Ltd.
  1,517,821   1,404,119
Elan Microelectronics Corp.
  189,000   1,012,921
Elite Material Co. Ltd.
  143,000   864,019
Eternal Materials Co. Ltd.
  724,000   764,915
First Financial Holding Co. Ltd.
  958,000   771,776
Genius Electronic Optical Co. Ltd.
  46,000   1,064,637
Gigabyte Technology Co. Ltd.
  347,000   994,999
Great Wall Enterprise Co. Ltd.
  586,700   923,275
Hiwin Technologies Corp.
  72,000   759,460
Hotai Motor Co. Ltd.
  38,000   869,105
ITEQ Corp.
  405,000   1,852,566
Kings Town Bank Co. Ltd.
  1,027,000   1,258,574
Largan Precision Co. Ltd.
  13,000   1,697,418
Lien Hwa Industrial Holdings Corp.
  891,477   1,427,240
Lite-On Technology Corp.
  494,000   836,416
MediaTek, Inc.
  38,000   909,318
Mega Financial Holding Co. Ltd.
  764,000   843,687
Micro-Star International Co. Ltd.
  669,000   2,980,235
President Chain Store Corp.
  112,000   1,070,508
Radiant Opto-Electronics Corp.
  195,000   832,067
Realtek Semiconductor Corp.
  125,000   1,597,996
Sinbon Electronics Co. Ltd.
  662,000   3,932,069
Sunny Friend Environmental Technology Co. Ltd.
  174,000   1,544,317
Taiwan Cement Corp.
  559,000   858,694
Taiwan Semiconductor Manufacturing Co. Ltd.
  200,680   2,914,859
Tripod Technology Corp.
  192,000   832,375
Unimicron Technology Corp.
  591,000   1,297,216
Uni-President Enterprises Corp.
  735,000   1,793,937
Voltronic Power Technology Corp.
  79,600   2,418,338
Wistron Corp.
  679,000   799,655
WT Microelectronics Co. Ltd.
  770,000   1,106,590
Zhen Ding Technology Holding Ltd.
  165,000   760,382
        48,792,535
Thailand-8.23%
B. Grimm Power PCL, NVDR
  566,157   889,656
Carabao Group PCL, NVDR
  276,372   1,076,860
CP ALL PCL, NVDR(a)
  1,616,290   3,537,619
See accompanying notes which are an integral part of this schedule.
Invesco DWA Emerging Markets Momentum ETF (PIE)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Thailand-(continued)
Electricity Generating PCL, NVDR
  124,863   $949,011
Gulf Energy Development PCL, NVDR
  866,619   937,975
Home Product Center PCL, NVDR
  1,488,402   744,619
Ratch Group PCL, NVDR
  349,325   669,355
Thanachart Capital PCL, NVDR
  1,032,545   1,150,675
Tisco Financial Group PCL, NVDR
  1,044,425   2,177,105
        12,132,875
Total Common Stocks & Other Equity Interests

(Cost $114,104,413)
  146,549,476
Money Market Funds-0.13%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $199,897)
  199,897   199,897
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.58%

(Cost $114,304,310)
  146,749,373
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.88%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  970,901   $970,901
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  323,069   323,134
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,294,035)
  1,294,035
TOTAL INVESTMENTS IN SECURITIES-100.46%

(Cost $115,598,345)
  148,043,408
OTHER ASSETS LESS LIABILITIES-(0.46)%
  (678,775)
NET ASSETS-100.00%
  $147,364,633
 
Investment Abbreviations:
ADR-American Depositary Receipt
NVDR-Non-Voting Depositary Receipt
Rts.-Rights
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 2020.
(c) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $3,278,947, which represented 2.23% of the Fund’s Net Assets.
(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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $8,597,425   $(8,397,528)   $-   $-   $199,897   $838
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 107,086   2,610,330   (2,717,416)   -   -   -   938
Invesco Liquid Assets Portfolio, Institutional Class 36,052   683,525   (719,634)   (1)   58   -   350
Invesco Private Government Fund -   8,707,862   (7,736,961)   -   -   970,901   88
Invesco Private Prime Fund -   1,678,529   (1,355,452)   -   57   323,134   46
Total $143,138   $22,277,671   $(20,926,991)   $(1)   $115   $1,493,932   $2,260
    
(e) The rate shown is the 7-day SEC standardized yield as of July 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.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.37%
Australia-6.47%
AGL Energy Ltd.
  52,997   $631,673
AMP Ltd.(a)
  334,448   351,379
Ampol Ltd.
  29,172   549,796
APA Group
  61,821   487,684
Aristocrat Leisure Ltd.
  10,017   188,069
ASX Ltd.
  4,948   293,280
Aurizon Holdings Ltd.
  150,226   479,419
Australia & New Zealand Banking Group Ltd.
  173,496   2,234,632
Bank of Queensland Ltd.(b)
  60,005   256,044
Bendigo & Adelaide Bank Ltd.
  46,361   228,745
BHP Group Ltd.
  235,294   6,201,237
BHP Group PLC
  151,945   3,300,529
BlueScope Steel Ltd.
  52,017   417,432
Boral Ltd.
  114,867   295,733
Brambles Ltd.
  74,642   577,048
Challenger Ltd.
  35,391   110,152
CIMIC Group Ltd.
  10,680   164,519
Coca-Cola Amatil Ltd.
  32,464   190,443
Coles Group Ltd.
  82,127   1,070,166
Commonwealth Bank of Australia
  81,004   4,136,153
Computershare Ltd.
  20,847   200,784
Crown Resorts Ltd.
  36,991   237,426
CSL Ltd.
  4,438   859,651
Dexus
  47,754   291,440
Downer EDI Ltd.
  48,826   143,914
Downer EDI Ltd., Rts., expiring August 31, 2020(a)(c)
  8,750   2,259
Fortescue Metals Group Ltd.
  96,341   1,202,874
Glencore PLC(a)
  1,400,139   3,209,328
Goodman Group
  44,464   539,853
GPT Group (The)
  90,886   252,894
GPT Group (The)(a)(c)
  231,466   0
Incitec Pivot Ltd.
  162,216   214,635
Insurance Australia Group Ltd.
  178,611   651,983
JB Hi-Fi Ltd.
  7,557   247,509
Lendlease Corp. Ltd.
  41,811   340,327
Macquarie Group Ltd.
  17,400   1,540,959
Medibank Pvt Ltd.
  193,918   392,173
Metcash Ltd.
  156,110   303,396
Mirvac Group
  231,065   346,330
National Australia Bank Ltd.
  179,226   2,269,874
Newcrest Mining Ltd.
  22,711   572,984
Oil Search Ltd.
  83,865   175,620
Orica Ltd.
  24,680   306,020
Origin Energy Ltd.
  143,321   551,943
Orora Ltd.
  79,675   131,420
Qantas Airways Ltd.
  59,696   138,280
QBE Insurance Group Ltd.
  93,865   667,095
Ramsay Health Care Ltd.
  6,306   280,295
Rio Tinto Ltd.
  30,001   2,194,553
Rio Tinto PLC
  95,000   5,754,326
Santos Ltd.
  67,063   253,457
Scentre Group
  439,225   642,580
Sonic Healthcare Ltd.
  21,029   484,099
South32 Ltd.
  421,591   622,829
Star Entertainment Group Ltd. (The)
  78,456   143,475
Stockland
  180,796   413,609
Suncorp Group Ltd.
  95,982   588,526
Tabcorp Holdings Ltd.
  139,543   356,261
Telstra Corp. Ltd.
  544,905   1,309,109
Transurban Group
  60,387   598,063
  Shares   Value
Australia-(continued)
Treasury Wine Estates Ltd.
  29,513   $228,585
Vicinity Centres
  271,683   254,263
Wesfarmers Ltd.
  55,998   1,869,400
Westpac Banking Corp.
  213,224   2,613,294
Woodside Petroleum Ltd.
  81,418   1,168,363
Woolworths Group Ltd.
  65,048   1,804,391
        59,534,582
Austria-0.28%
ANDRITZ AG
  7,677   258,543
BAWAG Group AG(d)
  5,158   188,835
Erste Group Bank AG(a)
  25,819   577,035
OMV AG(a)
  18,417   581,911
Raiffeisen Bank International AG
  16,113   277,230
voestalpine AG(b)
  21,478   476,081
Wienerberger AG(a)
  7,465   171,869
        2,531,504
Belgium-0.75%
Ageas
  21,137   796,075
Anheuser-Busch InBev S.A./N.V.
  51,572   2,812,577
Colruyt S.A.
  4,323   253,348
KBC Group N.V.
  19,436   1,110,542
Proximus SADP
  15,248   315,718
Solvay S.A., Class A
  7,631   596,103
UCB S.A.
  4,281   551,029
Umicore S.A.
  10,315   487,168
        6,922,560
Brazil-0.05%
Wheaton Precious Metals Corp.
  8,870   481,212
Canada-7.25%
Agnico Eagle Mines Ltd.
  6,337   503,223
Air Canada(a)
  12,345   139,256
Algonquin Power & Utilities Corp.
  15,787   217,800
Alimentation Couche-Tard, Inc., Class B
  38,807   1,348,612
AltaGas Ltd.(b)
  22,697   284,327
ARC Resources Ltd.
  69,936   297,078
Atco Ltd., Class I
  6,866   213,643
Bank of Montreal(b)
  47,478   2,597,378
Bank of Nova Scotia (The)
  95,152   3,907,661
Barrick Gold Corp.
  36,385   1,051,484
BCE, Inc.
  20,421   856,173
Bombardier, Inc., Class B(a)
  308,074   106,946
Brookfield Asset Management, Inc., Class A
  54,265   1,752,523
CAE, Inc.
  7,041   105,076
Cameco Corp.
  29,227   297,179
Canadian Apartment Properties REIT
  5,608   203,345
Canadian Imperial Bank of Commerce
  35,011   2,423,718
Canadian National Railway Co.
  20,481   2,000,548
Canadian Natural Resources Ltd.
  82,624   1,457,563
Canadian Pacific Railway Ltd.
  2,868   788,716
Canadian Tire Corp. Ltd., Class A(b)
  4,952   456,530
Canadian Utilities Ltd., Class A
  7,484   191,975
Capital Power Corp.
  7,432   157,184
CCL Industries, Inc., Class B
  5,824   193,742
Celestica, Inc.(a)
  27,360   225,906
Cenovus Energy, Inc.
  108,803   484,110
CGI, Inc., Class A(a)
  8,609   614,873
CI Financial Corp.
  17,481   240,258
Constellation Software, Inc.
  239   282,691
Crescent Point Energy Corp.
  209,906   324,379
Emera, Inc.(b)
  12,937   538,438
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Canada-(continued)
Empire Co. Ltd., Class A
  16,114   $413,948
Enbridge, Inc.
  95,310   3,050,347
Fairfax Financial Holdings Ltd.
  1,897   594,351
Finning International, Inc.
  13,809   196,903
Fortis, Inc.
  21,493   875,284
Franco-Nevada Corp.
  2,344   374,655
George Weston Ltd.
  6,458   487,761
Gibson Energy, Inc.
  11,988   197,428
Gildan Activewear, Inc.
  8,707   154,509
Great-West Lifeco, Inc.
  25,795   456,010
H&R REIT
  26,875   201,638
Husky Energy, Inc.
  72,622   233,670
Hydro One Ltd.(d)
  19,543   416,392
iA Financial Corp., Inc.
  8,465   297,207
IGM Financial, Inc.
  6,535   160,655
Imperial Oil Ltd.
  21,733   339,908
Intact Financial Corp.
  4,989   544,674
Inter Pipeline Ltd.(b)
  32,019   299,991
Keyera Corp.
  12,266   186,440
Kinross Gold Corp.(a)
  63,544   592,982
Linamar Corp.
  6,989   208,705
Loblaw Cos. Ltd.
  13,280   688,934
Magna International, Inc.
  35,504   1,640,950
Manulife Financial Corp.
  170,915   2,290,350
MEG Energy Corp.(a)
  39,327   103,933
Methanex Corp.
  8,084   149,791
Metro, Inc.
  11,773   516,448
National Bank of Canada
  19,522   921,666
Nutrien Ltd.
  42,439   1,382,000
Onex Corp.
  6,518   289,721
Open Text Corp.
  6,741   303,408
Parkland Corp.
  8,433   222,047
Pembina Pipeline Corp.
  23,111   561,600
Power Corp. of Canada
  51,428   912,612
Restaurant Brands International, Inc.
  4,415   249,343
RioCan REIT(b)
  21,122   235,898
Rogers Communications, Inc., Class B
  21,557   880,305
Royal Bank of Canada
  83,583   5,765,636
Saputo, Inc.
  10,642   260,429
Seven Generations Energy Ltd., Class A(a)
  46,096   126,295
Shaw Communications, Inc., Class B
  33,554   613,716
SmartCentres REIT(b)
  8,404   127,236
SNC-Lavalin Group, Inc.(b)
  17,462   277,019
Sun Life Financial, Inc.
  37,771   1,472,209
Suncor Energy, Inc.
  122,841   1,932,258
TC Energy Corp.
  39,852   1,816,323
Teck Resources Ltd., Class B
  96,337   975,956
TELUS Corp.
  26,170   453,848
TFI International, Inc.
  5,474   237,513
Thomson Reuters Corp.
  7,441   519,176
Toronto-Dominion Bank (The)
  108,764   4,812,574
Tourmaline Oil Corp.
  36,777   373,948
TransAlta Corp.
  29,238   191,209
Vermilion Energy, Inc.
  20,747   84,568
West Fraser Timber Co. Ltd.
  4,947   244,931
Whitecap Resources, Inc.(b)
  59,906   98,837
WSP Global, Inc.
  4,217   264,794
Yamana Gold, Inc.
  40,371   262,208
        66,805,482
  Shares   Value
Chile-0.06%
Antofagasta PLC
  24,232   $326,791
Lundin Mining Corp.
  46,634   261,109
        587,900
China-0.33%
AAC Technologies Holdings, Inc.
  31,013   246,897
BOC Hong Kong Holdings Ltd.
  250,206   697,330
China Mengniu Dairy Co. Ltd.(a)
  79,896   374,728
Lenovo Group Ltd.
  855,296   515,372
Semiconductor Manufacturing International Corp.(a)
  145,619   560,854
Want Want China Holdings Ltd.
  267,905   198,072
Wilmar International Ltd.
  130,371   439,228
        3,032,481
Denmark-1.09%
AP Moller - Maersk A/S, Class A
  496   589,421
AP Moller - Maersk A/S, Class B(b)
  787   1,009,075
Carlsberg A/S, Class B
  4,020   592,279
Coloplast A/S, Class B
  2,198   375,485
Danske Bank A/S(a)
  88,685   1,430,528
DSV Panalpina A/S
  3,408   469,106
ISS A/S(a)
  25,068   386,767
Jyske Bank A/S(a)
  6,915   221,547
Novo Nordisk A/S, Class B
  38,561   2,552,306
Novozymes A/S, Class B
  4,430   265,435
Orsted A/S(d)
  4,960   709,511
Pandora A/S
  8,618   547,429
Vestas Wind Systems A/S
  7,219   930,419
        10,079,308
Finland-1.43%
Elisa OYJ
  5,308   316,723
Fortum OYJ
  32,392   659,587
Huhtamaki OYJ(a)
  4,583   204,853
Kesko OYJ, Class B
  20,692   442,876
Kone OYJ, Class B
  14,288   1,136,057
Konecranes OYJ
  6,001   152,994
Metso Outotec OYJ
  30,763   200,075
Neles OYJ
  7,037   101,852
Neste OYJ
  12,910   593,545
Nokia OYJ
  487,274   2,339,378
Nokian Renkaat OYJ
  11,245   270,731
Nordea Bank Abp(a)
  378,875   2,941,697
Orion OYJ, Class B
  4,478   196,030
Outokumpu OYJ(a)(b)
  63,518   171,251
Sampo OYJ, Class A
  37,578   1,362,852
Stora Enso OYJ, Class R
  52,881   666,589
UPM-Kymmene OYJ
  39,673   1,061,648
Wartsila OYJ Abp
  36,808   308,160
        13,126,898
France-9.67%
Accor S.A.(a)
  10,539   264,701
Aeroports de Paris(b)
  1,196   113,142
Air France-KLM(a)(b)
  79,214   326,817
Air Liquide S.A.
  17,491   2,887,362
Airbus SE(a)
  19,187   1,406,922
Alstom S.A.(a)
  6,513   363,748
Amundi S.A.(a)(d)
  2,869   218,144
Arkema S.A.
  6,569   680,618
Atos SE(a)
  6,516   557,854
AXA S.A.(b)
  264,801   5,280,577
BNP Paribas S.A.(a)
  151,995   6,131,628
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
France-(continued)
Bollore S.A.
  62,768   $210,052
Bouygues S.A.(a)
  27,937   991,065
Bureau Veritas S.A.(a)
  11,206   245,477
Capgemini SE
  7,560   978,897
Carrefour S.A.
  102,601   1,637,897
Casino Guichard Perrachon S.A.(a)(b)
  15,887   443,358
Cie de Saint-Gobain(a)
  65,708   2,421,900
Cie Generale des Etablissements Michelin S.C.A.
  17,129   1,789,330
CNP Assurances(a)
  20,301   244,620
Covivio
  2,679   194,193
Credit Agricole S.A.(a)
  146,422   1,406,968
Danone S.A.
  30,940   2,068,603
Dassault Systemes SE
  1,440   262,401
Edenred
  4,720   235,144
Eiffage S.A.(a)
  6,845   598,972
Electricite de France S.A.
  80,299   811,853
Elior Group S.A.(d)
  13,810   76,589
Elis S.A.(a)
  14,456   176,412
ENGIE S.A.(a)
  228,965   3,056,780
EssilorLuxottica S.A.(a)
  9,110   1,208,683
Eurazeo SE(a)
  3,701   193,788
Eutelsat Communications S.A.(b)
  25,280   256,188
Faurecia SE(a)
  10,663   414,710
Gecina S.A.
  2,331   301,827
Getlink SE(a)
  13,827   208,141
Hermes International
  428   347,293
ICADE
  1,826   120,918
Imerys S.A.
  4,695   172,773
Ingenico Group S.A.(a)
  1,794   288,829
Kering S.A.
  1,580   900,078
Klepierre S.A.
  15,716   271,143
Lagardere S.C.A.(a)
  15,111   229,614
Legrand S.A.
  8,803   681,617
L’Oreal S.A.
  5,996   2,006,546
LVMH Moet Hennessy Louis Vuitton SE
  6,276   2,721,787
Natixis S.A.(a)
  144,158   350,309
Orange S.A.
  250,318   2,933,962
Orpea(a)
  1,715   219,428
Pernod Ricard S.A.
  7,006   1,209,551
Peugeot S.A.(a)
  98,708   1,592,091
Publicis Groupe S.A.
  21,380   688,930
Renault S.A.(a)
  79,972   1,896,539
Rexel S.A.(a)
  41,582   491,019
Rubis S.C.A.
  4,681   221,190
Safran S.A.(a)
  9,937   1,050,965
Sanofi
  64,158   6,718,008
Schneider Electric SE
  24,279   2,820,462
SCOR SE(a)
  16,779   432,537
SEB S.A.
  1,719   284,784
Societe Generale S.A.(a)
  165,555   2,541,862
Sodexo S.A.
  6,392   440,512
SPIE S.A.
  11,700   190,235
Suez S.A.
  42,066   556,376
Teleperformance
  1,298   379,577
Thales S.A.
  5,062   367,290
TOTAL S.A.
  289,773   10,725,150
Unibail-Rodamco-Westfield(b)
  14,306   753,138
Valeo S.A.
  41,274   1,061,053
Veolia Environnement S.A.
  47,735   1,089,984
Vinci S.A.
  26,135   2,249,857
Vivendi S.A.
  51,941   1,375,813
        89,046,581
  Shares   Value
Germany-10.64%
Aareal Bank AG(a)
  8,519   $157,049
adidas AG(a)
  4,649   1,285,852
Allianz SE
  39,068   8,140,995
Aroundtown S.A.(a)
  36,775   222,129
Aurubis AG
  7,134   476,800
BASF SE
  105,211   5,823,726
Bayer AG
  71,438   4,750,898
Bayerische Motoren Werke AG
  65,987   4,268,220
Bayerische Motoren Werke AG, Preference Shares
  11,309   582,523
Beiersdorf AG
  2,345   280,485
Brenntag AG
  12,860   792,586
Commerzbank AG(a)(b)
  245,837   1,264,264
Continental AG
  14,994   1,463,822
Covestro AG(d)
  23,627   918,073
Daimler AG
  200,322   8,859,340
Deutsche Bank AG(a)(b)
  436,378   3,917,085
Deutsche Boerse AG
  4,537   829,429
Deutsche Lufthansa AG(a)(b)
  67,943   600,802
Deutsche Pfandbriefbank AG(a)(d)
  16,698   106,329
Deutsche Post AG(a)
  89,810   3,638,423
Deutsche Telekom AG
  324,566   5,436,517
Deutsche Wohnen SE
  15,848   772,099
E.ON SE
  200,887   2,360,286
Evonik Industries AG
  20,478   553,802
Freenet AG
  15,476   268,009
Fresenius Medical Care AG & Co. KGaA(a)
  12,805   1,129,890
Fresenius SE & Co. KGaA(a)
  33,820   1,690,468
Fuchs Petrolub SE
  1,684   57,749
Fuchs Petrolub SE, Preference Shares
  3,384   148,459
GEA Group AG
  12,643   457,929
Hannover Rueck SE
  3,726   631,820
HeidelbergCement AG
  18,095   1,009,954
Hella GmbH & Co. KGaA
  4,630   202,465
Henkel AG & Co. KGaA
  5,470   476,388
Henkel AG & Co. KGaA, Preference Shares
  9,193   906,618
HOCHTIEF AG
  2,387   194,761
HUGO BOSS AG
  6,989   191,075
Infineon Technologies AG
  37,788   944,179
K+S AG
  50,384   334,477
KION Group AG
  5,292   408,008
Knorr-Bremse AG
  2,346   275,722
LANXESS AG(a)
  8,082   420,506
LEG Immobilien AG(a)
  2,617   365,968
Merck KGaA
  4,438   567,039
METRO AG
  44,745   410,166
MTU Aero Engines AG(a)
  1,302   226,093
Muenchener Rueckversicherungs-Gesellschaft AG
  14,176   3,768,349
OSRAM Licht AG(a)
  5,543   290,959
Porsche Automobil Holding SE, Preference Shares
  8,715   495,591
ProSiebenSat.1 Media SE(a)(b)
  37,086   382,672
Rheinmetall AG
  3,445   326,875
RWE AG
  54,081   2,045,146
Salzgitter AG(a)
  16,795   231,171
SAP SE
  22,795   3,606,051
Siemens AG
  60,706   7,775,734
Siemens Healthineers AG(d)
  4,913   255,362
Symrise AG
  2,868   359,659
Talanx AG
  3,996   146,200
Telefonica Deutschland Holding AG
  103,195   283,715
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Germany-(continued)
thyssenkrupp AG(a)(b)
  110,334   $857,188
TUI AG(b)
  77,733   293,933
Uniper SE
  18,647   647,390
United Internet AG
  9,122   414,967
Volkswagen AG(a)
  5,567   873,561
Volkswagen AG, Preference Shares(a)
  31,858   4,709,010
Vonovia SE
  21,621   1,410,778
        97,993,588
Hong Kong-1.58%
AIA Group Ltd.
  346,337   3,130,359
CK Asset Holdings Ltd.
  149,456   830,183
CK Hutchison Holdings Ltd.
  134,846   879,521
CLP Holdings Ltd.
  84,291   798,297
Hang Lung Properties Ltd.
  106,583   261,569
Hang Seng Bank Ltd.
  42,461   667,853
Henderson Land Development Co. Ltd.
  111,614   418,362
Hong Kong & China Gas Co. Ltd. (The)
  281,926   404,508
Hong Kong Exchanges & Clearing Ltd.
  17,528   837,251
Hongkong Land Holdings Ltd.
  59,741   226,418
Hysan Development Co. Ltd.
  60,152   166,093
Jardine Matheson Holdings Ltd.
  6,902   282,430
Jardine Strategic Holdings Ltd.
  7,044   142,289
Link REIT
  109,128   846,952
MTR Corp. Ltd.
  97,814   485,902
New World Development Co. Ltd.
  112,557   548,973
Power Assets Holdings Ltd.
  32,364   180,190
Sino Land Co. Ltd.
  170,259   206,283
Sun Hung Kai Properties Ltd.
  110,926   1,358,272
Swire Pacific Ltd., Class A
  41,955   207,604
Swire Pacific Ltd., Class B
  78,403   69,397
Swire Properties Ltd.
  93,857   216,774
Techtronic Industries Co. Ltd.
  30,567   319,269
WH Group Ltd.
  637,816   567,024
Wharf Holdings Ltd. (The)
  107,026   181,732
Wharf Real Estate Investment Co. Ltd.
  88,015   311,168
        14,544,673
Ireland-0.44%
AIB Group PLC(a)
  104,212   130,255
Bank of Ireland Group PLC(a)
  123,582   255,737
CRH PLC
  54,451   1,976,775
Flutter Entertainment PLC(a)
  2,919   439,437
Kerry Group PLC, Class A
  3,119   413,080
Kingspan Group PLC
  2,924   210,051
Smurfit Kappa Group PLC
  18,645   621,578
        4,046,913
Israel-0.24%
Bank Hapoalim BM
  58,652   349,093
Bank Leumi Le-Israel BM
  78,913   395,232
ICL Group Ltd.
  52,511   164,992
Israel Discount Bank Ltd., Class A
  67,339   204,456
Teva Pharmaceutical Industries Ltd.(a)(b)
  97,353   1,103,654
        2,217,427
Italy-2.94%
A2A S.p.A.
  133,283   191,256
Assicurazioni Generali S.p.A.
  154,390   2,311,288
Atlantia S.p.A.(a)
  38,425   611,135
Banca Monte dei Paschi di Siena S.p.A.(a)(b)
  101,507   183,769
Banco BPM S.p.A.(a)(b)
  382,698   575,179
BPER Banca(a)(b)
  70,546   177,853
Enel S.p.A.
  605,395   5,533,033
  Shares   Value
Italy-(continued)
Eni S.p.A.
  431,687   $3,849,453
Ferrari N.V.
  1,340   239,822
FinecoBank Banca Fineco S.p.A.(a)
  19,188   278,517
Hera S.p.A.
  55,764   215,891
Intesa Sanpaolo S.p.A.(a)
  1,930,928   3,898,088
Italgas S.p.A.
  29,969   192,785
Leonardo S.p.A.
  42,540   272,142
Mediobanca Banca di Credito Finanziario S.p.A.
  73,402   588,316
Pirelli & C S.p.A.(a)(d)
  49,520   196,928
Poste Italiane S.p.A.(d)
  45,404   416,207
Prysmian S.p.A.
  17,382   444,588
Saipem S.p.A.
  90,310   191,424
Saras S.p.A.(a)
  185,903   137,284
Snam S.p.A.
  140,352   746,848
Telecom Italia S.p.A.
  2,273,068   916,037
Telecom Italia S.p.A., RSP
  1,273,074   510,033
Terna Rete Elettrica Nazionale S.p.A.
  70,366   524,708
UniCredit S.p.A.(a)
  302,804   2,764,625
Unione di Banche Italiane S.p.A.(a)(b)
  141,391   597,554
Unipol Gruppo S.p.A.
  64,027   267,566
UnipolSai Assicurazioni S.p.A.(b)
  82,479   212,228
        27,044,557
Japan-19.84%
Aeon Co. Ltd.
  48,641   1,145,522
AEON Financial Service Co. Ltd.
  11,937   89,530
AGC, Inc.
  23,304   651,974
Air Water, Inc.
  16,529   213,393
Aisin Seiki Co. Ltd.
  15,938   455,242
Ajinomoto Co., Inc.
  31,528   567,760
Alfresa Holdings Corp.
  15,819   323,472
Alps Alpine Co. Ltd.
  21,636   270,731
Amada Co. Ltd.
  29,415   197,250
ANA Holdings, Inc.(a)(b)
  12,732   261,673
Aozora Bank Ltd.
  12,140   193,703
Asahi Group Holdings Ltd.
  20,730   675,249
Asahi Kasei Corp.
  98,106   697,682
Astellas Pharma, Inc.
  79,595   1,242,143
Bandai Namco Holdings, Inc.
  7,768   427,670
Bridgestone Corp.
  59,831   1,750,848
Brother Industries Ltd.
  19,540   301,980
Canon, Inc.
  96,616   1,531,528
Casio Computer Co. Ltd.
  10,296   162,820
Central Japan Railway Co.
  8,013   962,879
Chiba Bank Ltd. (The)
  61,292   279,417
Chubu Electric Power Co., Inc.
  47,078   558,586
Chugai Pharmaceutical Co. Ltd.
  7,038   315,256
Chugoku Electric Power Co., Inc. (The)
  31,121   379,115
Coca-Cola Bottlers Japan Holdings, Inc.(b)
  9,652   143,780
Concordia Financial Group Ltd.
  73,708   216,809
Credit Saison Co. Ltd.
  15,810   146,392
Dai Nippon Printing Co. Ltd.
  26,963   585,010
Daicel Corp.
  34,367   228,182
Dai-ichi Life Holdings, Inc.
  115,530   1,344,007
Daiichi Sankyo Co. Ltd.
  12,396   1,085,427
Daikin Industries Ltd.
  9,135   1,594,067
Daito Trust Construction Co. Ltd.
  5,689   445,090
Daiwa House Industry Co. Ltd.
  44,888   990,058
Daiwa Securities Group, Inc.
  160,002   702,175
Denka Co. Ltd.
  8,608   204,677
Denso Corp.
  38,100   1,393,841
Dentsu Group, Inc.
  20,410   453,255
DIC Corp.
  7,922   189,639
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
East Japan Railway Co.
  24,649   $1,415,342
Ebara Corp.
  10,053   236,373
Eisai Co. Ltd.
  7,378   592,236
Electric Power Development Co. Ltd.
  12,143   164,809
ENEOS Holdings, Inc.
  353,560   1,227,913
FamilyMart Co. Ltd.(b)
  8,204   182,966
FANUC Corp.
  7,854   1,315,190
Fast Retailing Co. Ltd.
  940   498,316
Fuji Electric Co. Ltd.
  11,770   319,492
FUJIFILM Holdings Corp.
  22,338   996,579
Fujikura Ltd.
  64,708   173,199
Fujitsu Ltd.
  13,921   1,859,118
Fukuoka Financial Group, Inc.
  20,749   300,451
Furukawa Electric Co. Ltd.
  12,785   303,149
Hakuhodo DY Holdings, Inc.
  16,944   185,257
Hankyu Hanshin Holdings, Inc.
  10,176   290,179
Haseko Corp.
  30,475   358,275
Hino Motors Ltd.
  39,784   228,401
Hirose Electric Co. Ltd.
  1,657   173,489
Hitachi Construction Machinery Co. Ltd.
  9,215   263,211
Hitachi Ltd.
  82,786   2,449,207
Hitachi Metals Ltd.
  16,593   215,318
Honda Motor Co. Ltd.
  103,764   2,477,067
Hoya Corp.
  6,631   653,504
Idemitsu Kosan Co. Ltd.
  31,019   639,567
IHI Corp.
  19,411   240,136
Iida Group Holdings Co. Ltd.
  14,010   215,722
INPEX Corp.
  113,351   642,283
Isetan Mitsukoshi Holdings Ltd.
  50,223   228,006
Isuzu Motors Ltd.
  62,501   508,083
ITOCHU Corp.
  102,161   2,222,362
J Front Retailing Co. Ltd.
  30,485   175,592
Japan Airlines Co. Ltd.
  14,122   228,599
Japan Exchange Group, Inc.
  18,971   448,572
Japan Post Bank Co. Ltd.
  44,232   328,822
Japan Post Holdings Co. Ltd.
  154,909   1,050,943
Japan Post Insurance Co. Ltd.
  45,648   602,711
Japan Tobacco, Inc.
  99,347   1,702,608
JFE Holdings, Inc.
  93,578   605,385
JGC Holdings Corp.
  20,081   202,083
JSR Corp.
  13,285   285,352
JTEKT Corp.
  24,230   160,418
Kajima Corp.
  48,063   525,497
Kaneka Corp.
  7,712   180,163
Kansai Electric Power Co., Inc. (The)
  76,702   726,540
Kao Corp.
  13,929   1,005,976
Kawasaki Heavy Industries Ltd.
  22,674   307,524
Kawasaki Kisen Kaisha Ltd.(a)
  21,173   192,045
KDDI Corp.
  117,902   3,634,187
Keikyu Corp.
  12,687   164,992
Keio Corp.
  5,200   257,713
Keisei Electric Railway Co. Ltd.
  5,474   132,902
Kewpie Corp.
  9,961   176,835
Keyence Corp.
  1,824   762,861
Kikkoman Corp.
  4,432   206,027
Kintetsu Group Holdings Co. Ltd.
  9,654   374,363
Kirin Holdings Co. Ltd.
  54,447   1,047,434
Kobe Steel Ltd.(a)
  132,491   423,550
Koito Manufacturing Co. Ltd.
  8,193   319,646
Komatsu Ltd.
  83,717   1,635,859
Konica Minolta, Inc.
  85,785   225,558
K’s Holdings Corp.
  18,085   232,626
  Shares   Value
Japan-(continued)
Kubota Corp.
  77,062   $1,095,836
Kuraray Co. Ltd.
  35,692   348,379
Kyocera Corp.
  17,046   942,181
Kyowa Kirin Co. Ltd.
  8,104   199,285
Kyushu Electric Power Co., Inc.
  46,995   392,921
Kyushu Railway Co.
  9,514   186,987
Lawson, Inc.
  3,584   177,963
LIXIL Group Corp.
  32,127   427,226
Makita Corp.
  10,370   395,753
Marubeni Corp.
  158,357   726,408
Marui Group Co. Ltd.
  9,980   143,758
Mazda Motor Corp.
  107,761   602,353
Medipal Holdings Corp.
  15,298   281,276
MEIJI Holdings Co. Ltd.
  8,609   672,565
MINEBEA MITSUMI, Inc.
  20,487   333,667
Mitsubishi Chemical Holdings Corp.
  137,649   736,610
Mitsubishi Corp.
  121,145   2,428,514
Mitsubishi Electric Corp.
  113,709   1,473,926
Mitsubishi Estate Co. Ltd.
  51,988   746,900
Mitsubishi Gas Chemical Co., Inc.
  19,012   299,754
Mitsubishi Heavy Industries Ltd.
  30,361   702,527
Mitsubishi Materials Corp.(b)
  13,301   270,096
Mitsubishi Motors Corp.
  97,865   190,676
Mitsubishi UFJ Financial Group, Inc.
  1,112,540   4,137,432
Mitsubishi UFJ Lease & Finance Co. Ltd.
  31,759   133,668
Mitsui & Co. Ltd.
  121,918   1,814,990
Mitsui Chemicals, Inc.
  21,633   410,440
Mitsui E&S Holdings Co. Ltd.(a)
  24,597   94,452
Mitsui Fudosan Co. Ltd.
  54,812   854,348
Mitsui Mining & Smelting Co. Ltd.
  8,077   168,751
Mitsui OSK Lines Ltd.
  24,240   396,396
Mizuho Financial Group, Inc.
  2,167,535   2,615,884
MS&AD Insurance Group Holdings, Inc.
  30,505   760,533
Murata Manufacturing Co. Ltd.
  20,557   1,284,983
Nagoya Railroad Co. Ltd.
  9,355   235,888
NEC Corp.
  23,672   1,318,718
NGK Insulators Ltd.
  19,478   240,781
NGK Spark Plug Co. Ltd.
  18,692   249,097
NH Foods Ltd.
  10,617   464,425
Nidec Corp.
  11,164   884,314
Nikon Corp.
  39,901   277,001
Nintendo Co. Ltd.
  2,204   968,067
Nippon Electric Glass Co. Ltd.
  13,996   227,155
Nippon Express Co. Ltd.
  8,160   386,660
Nippon Paint Holdings Co. Ltd.
  3,952   268,376
Nippon Paper Industries Co. Ltd.
  12,096   151,701
Nippon Steel Corp.
  110,894   899,381
Nippon Suisan Kaisha Ltd.
  35,492   147,366
Nippon Telegraph & Telephone Corp.
  117,626   2,718,426
Nippon Yusen KK
  40,058   515,264
Nissan Motor Co. Ltd.
  393,807   1,344,598
Nisshin Seifun Group, Inc.(b)
  15,391   235,094
Nissin Foods Holdings Co. Ltd.
  2,347   210,438
Nitori Holdings Co. Ltd.
  1,826   400,155
Nitto Denko Corp.
  12,419   698,884
Nomura Holdings, Inc.
  310,573   1,438,453
Nomura Real Estate Holdings, Inc.
  10,670   176,807
NSK Ltd.
  59,016   390,724
NTN Corp.
  100,025   172,180
NTT Data Corp.
  35,962   405,095
NTT DOCOMO, Inc.
  73,208   2,013,168
Obayashi Corp.
  60,423   536,052
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
Odakyu Electric Railway Co. Ltd.
  14,858   $308,599
Oji Holdings Corp.
  81,835   340,560
Olympus Corp.
  19,351   344,723
Omron Corp.
  7,973   567,830
Ono Pharmaceutical Co. Ltd.
  13,474   377,662
Oriental Land Co. Ltd.
  2,378   284,964
ORIX Corp.
  108,034   1,160,755
Osaka Gas Co. Ltd.
  26,639   489,797
Otsuka Holdings Co. Ltd.
  23,735   981,008
Pan Pacific International Holdings Corp.
  14,728   334,734
Panasonic Corp.
  188,951   1,608,398
Rakuten, Inc.
  37,779   344,810
Recruit Holdings Co. Ltd.
  21,167   654,249
Renesas Electronics Corp.(a)
  40,983   224,044
Resona Holdings, Inc.
  222,719   724,211
Ricoh Co. Ltd.
  88,464   564,771
Rohm Co. Ltd.
  5,055   318,896
Santen Pharmaceutical Co. Ltd.
  12,264   206,469
SBI Holdings, Inc.
  15,903   331,958
Secom Co. Ltd.
  8,322   714,765
Sega Sammy Holdings, Inc.
  12,603   141,729
Seibu Holdings, Inc.
  16,345   145,626
Seiko Epson Corp.
  28,397   298,393
Seino Holdings Co. Ltd.
  15,402   189,521
Sekisui Chemical Co. Ltd.
  23,927   324,066
Sekisui House Ltd.(b)
  48,778   884,860
Seven & i Holdings Co. Ltd.
  56,989   1,728,050
SG Holdings Co. Ltd.
  13,873   507,789
Sharp Corp.
  14,424   140,516
Shimadzu Corp.
  8,304   208,994
Shimano, Inc.
  2,299   500,113
Shimizu Corp.
  56,636   404,964
Shin-Etsu Chemical Co. Ltd.
  13,256   1,538,990
Shinsei Bank Ltd.
  19,078   214,364
Shionogi & Co. Ltd.
  8,050   476,544
Shiseido Co. Ltd.
  7,566   418,624
Shizuoka Bank Ltd. (The)
  40,997   265,222
Showa Denko K.K.
  18,943   389,861
SMC Corp.
  1,431   745,344
Softbank Corp.(b)
  106,107   1,419,544
SoftBank Group Corp.
  110,735   6,907,191
Sojitz Corp.
  137,335   287,062
Sompo Holdings, Inc.
  23,829   778,674
Sony Corp.
  55,399   4,231,555
Stanley Electric Co. Ltd.
  9,157   217,904
Subaru Corp.
  67,799   1,278,966
SUMCO Corp.
  11,099   169,535
Sumitomo Chemical Co. Ltd.
  198,701   569,435
Sumitomo Corp.
  102,267   1,131,679
Sumitomo Electric Industries Ltd.
  62,437   688,561
Sumitomo Heavy Industries Ltd.
  14,908   288,910
Sumitomo Metal Mining Co. Ltd.
  21,393   634,121
Sumitomo Mitsui Financial Group, Inc.
  118,418   3,136,011
Sumitomo Mitsui Trust Holdings, Inc.
  26,305   674,232
Sumitomo Realty & Development Co. Ltd.
  20,234   514,701
Sumitomo Rubber Industries Ltd.
  18,339   151,943
Suntory Beverage & Food Ltd.
  7,563   284,337
Suzuken Co. Ltd.
  8,071   285,878
Suzuki Motor Corp.
  33,695   1,106,489
Sysmex Corp.
  3,793   291,695
T&D Holdings, Inc.
  68,499   559,109
Taiheiyo Cement Corp.
  16,946   366,231
  Shares   Value
Japan-(continued)
Taisei Corp.
  19,581   $670,417
Takashimaya Co. Ltd.
  29,511   195,382
Takeda Pharmaceutical Co. Ltd.
  79,316   2,817,657
TDK Corp.
  7,506   829,188
Teijin Ltd.
  21,912   314,805
Terumo Corp.
  13,833   520,062
THK Co. Ltd.
  7,466   173,498
TIS, Inc.
  9,113   195,826
Tobu Railway Co. Ltd.
  12,244   341,160
Tohoku Electric Power Co., Inc.
  35,336   333,207
Tokio Marine Holdings, Inc.
  39,795   1,669,636
Tokyo Electric Power Co. Holdings, Inc.(a)
  199,121   527,323
Tokyo Electron Ltd.
  4,435   1,208,058
Tokyo Gas Co. Ltd.
  32,040   675,922
Tokyo Tatemono Co. Ltd.
  14,941   159,683
Tokyu Corp.
  32,549   360,800
Tokyu Fudosan Holdings Corp.
  57,715   219,986
Toppan Printing Co. Ltd.
  32,748   490,306
Toray Industries, Inc.
  162,730   698,909
Toshiba Corp.
  49,726   1,504,996
Tosoh Corp.
  28,911   386,100
TOTO Ltd.
  7,230   270,108
Toyo Seikan Group Holdings Ltd.
  12,596   137,242
Toyo Suisan Kaisha Ltd.
  4,774   288,978
Toyoda Gosei Co. Ltd.
  9,110   176,117
Toyota Industries Corp.
  11,311   571,273
Toyota Motor Corp.
  124,026   7,292,818
Toyota Tsusho Corp.
  16,412   412,590
Trend Micro, Inc.
  3,909   227,375
Tsuruha Holdings, Inc.
  1,757   242,454
Ube Industries Ltd.
  13,987   226,612
Unicharm Corp.
  8,291   373,107
West Japan Railway Co.
  12,766   546,718
Yakult Honsha Co. Ltd.
  4,152   236,012
Yamada Denki Co. Ltd.
  68,907   297,839
Yamaha Corp.
  4,954   227,248
Yamaha Motor Co. Ltd.
  37,769   548,335
Yamato Holdings Co. Ltd.
  32,537   829,350
Yamazaki Baking Co. Ltd.(b)
  10,687   178,706
Yaskawa Electric Corp.
  7,553   248,957
Yokogawa Electric Corp.
  13,254   200,947
Yokohama Rubber Co. Ltd. (The)
  12,807   162,556
Z Holdings Corp.
  127,730   672,899
        182,739,819
Luxembourg-0.25%
Aperam S.A.
  6,186   175,851
ArcelorMittal S.A.(a)
  142,673   1,575,759
RTL Group S.A.(a)
  4,959   164,193
SES S.A., FDR
  48,763   345,743
        2,261,546
Macau-0.10%
Galaxy Entertainment Group Ltd.
  60,349   411,141
Sands China Ltd.
  124,466   481,792
        892,933
Netherlands-2.37%
Aalberts N.V.
  4,719   168,467
ABN AMRO Bank N.V., CVA(d)
  71,451   593,463
Aegon N.V.
  380,637   1,127,959
Akzo Nobel N.V.
  14,645   1,380,914
Altice Europe N.V.(a)
  38,690   183,461
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Netherlands-(continued)
Altice Europe N.V., Class B(a)
  2,555   $12,100
ASML Holding N.V.
  4,485   1,589,463
ASR Nederland N.V.
  16,808   543,196
Boskalis Westminster(a)
  9,768   184,464
Heineken Holding N.V.
  4,964   430,559
Heineken N.V.
  9,050   880,102
ING Groep N.V.
  558,746   3,895,588
Koninklijke Ahold Delhaize N.V.
  101,738   2,943,868
Koninklijke BAM Groep N.V.(a)
  74,832   116,274
Koninklijke DSM N.V.(b)
  7,496   1,148,777
Koninklijke KPN N.V.(b)
  288,779   749,210
Koninklijke Philips N.V.(a)
  40,053   2,078,748
NN Group N.V.
  44,085   1,616,046
Prosus N.V.(a)
  4,045   392,702
Randstad N.V.
  12,220   587,543
SBM Offshore N.V.
  12,777   198,454
Signify N.V.(a)
  14,962   448,506
Wolters Kluwer N.V.
  7,409   585,770
        21,855,634
New Zealand-0.05%
Fletcher Building Ltd.
  64,839   145,991
Spark New Zealand Ltd.
  87,444   287,176
        433,167
Norway-0.77%
DNB ASA(a)
  75,491   1,152,049
Equinor ASA
  140,470   2,077,920
Gjensidige Forsikring ASA(a)
  9,130   187,450
Mowi ASA
  23,618   426,114
Norsk Hydro ASA(a)
  225,101   629,768
Orkla ASA
  44,354   437,245
Storebrand ASA(a)
  49,574   269,852
Telenor ASA
  62,732   973,229
Yara International ASA
  23,315   976,632
        7,130,259
Poland-0.20%
Bank Polska Kasa Opieki S.A.(a)
  14,397   195,141
KGHM Polska Miedz S.A.(a)
  14,816   500,464
Polski Koncern Naftowy ORLEN S.A.
  27,350   390,500
Powszechna Kasa Oszczednosci Bank Polski S.A.(a)
  59,257   345,381
Powszechny Zaklad Ubezpieczen S.A.
  59,738   432,549
        1,864,035
Portugal-0.23%
Banco Comercial Portugues S.A., Class R(a)
  997,249   115,802
EDP - Energias de Portugal S.A.
  254,161   1,287,837
Galp Energia SGPS S.A.
  46,166   485,863
Jeronimo Martins SGPS S.A.
  15,294   258,527
        2,148,029
Russia-0.05%
Evraz PLC
  54,704   207,140
Polymetal International PLC
  11,664   290,106
        497,246
Singapore-0.69%
Ascendas REIT
  111,700   288,353
CapitaLand Ltd.
  171,694   345,567
CapitaLand Mall Trust
  113,466   156,385
City Developments Ltd.
  31,667   188,898
ComfortDelGro Corp. Ltd.
  205,248   203,557
DBS Group Holdings Ltd.
  105,697   1,523,831
  Shares   Value
Singapore-(continued)
Genting Singapore Ltd.
  353,173   $189,296
Keppel Corp. Ltd.
  72,437   285,247
Oversea-Chinese Banking Corp. Ltd.
  110,659   690,761
Singapore Airlines Ltd.
  49,821   124,253
Singapore Press Holdings Ltd.
  134,399   104,869
Singapore Technologies Engineering Ltd.
  76,027   181,294
Singapore Telecommunications Ltd.
  602,185   1,089,053
United Overseas Bank Ltd.
  54,992   777,580
Venture Corp. Ltd.
  16,430   214,466
        6,363,410
South Africa-0.23%
Anglo American PLC
  81,720   2,005,929
Investec PLC
  72,657   143,520
        2,149,449
South Korea-4.96%
Amorepacific Corp.
  1,304   181,689
Amorepacific Corp., Preference Shares
  377   19,461
CJ CheilJedang Corp.
  818   265,023
CJ CheilJedang Corp., Preference Shares
  204   25,170
Coway Co. Ltd.
  3,911   251,783
Daelim Industrial Co. Ltd.
  3,565   250,454
DB Insurance Co. Ltd.
  5,280   208,736
E-MART, Inc.
  5,422   518,808
GS Engineering & Construction Corp.
  8,928   201,955
Hana Financial Group, Inc.
  25,674   635,708
Hanwha Solutions Corp.
  14,782   316,385
Hyundai Engineering & Construction Co. Ltd.
  13,959   401,875
Hyundai Glovis Co. Ltd.
  2,178   203,833
Hyundai Heavy Industries Holdings Co. Ltd.
  1,018   202,079
Hyundai Mobis Co. Ltd.
  7,081   1,221,374
Hyundai Motor Co.
  23,242   2,467,780
Hyundai Motor Co., First Pfd.
  3,913   226,622
Hyundai Motor Co., Second Pfd.
  6,277   364,587
Hyundai Steel Co.
  13,734   285,885
Industrial Bank of Korea
  44,604   303,625
KB Financial Group, Inc.
  38,575   1,141,320
Kia Motors Corp.
  30,219   1,024,717
Korea Electric Power Corp.(a)
  36,510   585,312
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a)
  3,997   299,255
Korea Zinc Co. Ltd.
  780   271,042
Korean Air Lines Co. Ltd.(a)
  15,330   223,890
KT&G Corp.
  8,978   609,636
LG Chem Ltd.
  2,887   1,376,377
LG Chem Ltd., Preference Shares
  526   117,438
LG Corp.
  6,246   387,950
LG Display Co. Ltd.(a)
  55,754   589,643
LG Electronics, Inc.
  12,991   770,911
LG Electronics, Inc., Preference Shares
  2,123   47,934
LG Household & Health Care Ltd.
  260   299,194
LG Household & Health Care Ltd., Preference Shares
  65   38,954
LG Uplus Corp.
  29,919   287,538
Lotte Chemical Corp.
  2,858   404,208
Lotte Shopping Co. Ltd.
  2,695   176,213
Mirae Asset Daewoo Co. Ltd.
  36,753   243,395
Mirae Asset Daewoo Co. Ltd., Second Pfd.
  12,941   46,489
NAVER Corp.
  1,992   503,267
POSCO
  8,017   1,302,073
Samsung C&T Corp.
  5,572   495,746
Samsung Electro-Mechanics Co. Ltd.
  2,812   331,615
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
South Korea-(continued)
Samsung Electronics Co. Ltd.
  312,451   $15,184,584
Samsung Electronics Co. Ltd., Preference Shares
  53,754   2,233,358
Samsung Fire & Marine Insurance Co. Ltd.
  2,923   420,761
Samsung Fire & Marine Insurance Co. Ltd., Preference Shares
  264   27,145
Samsung Heavy Industries Co. Ltd.(a)
  53,537   257,035
Samsung Life Insurance Co. Ltd.
  5,930   236,672
Samsung SDI Co. Ltd.
  1,609   536,828
Samsung SDS Co. Ltd.
  1,347   188,245
Shinhan Financial Group Co. Ltd.
  40,071   1,012,370
SK Holdings Co. Ltd.
  5,320   989,072
SK Hynix, Inc.
  30,831   2,142,695
SK Innovation Co. Ltd.
  9,669   1,030,689
SK Telecom Co. Ltd.
  3,080   570,035
S-Oil Corp.
  5,772   295,528
Woori Financial Group, Inc.
  58,265   415,690
        45,667,656
Spain-3.05%
Acciona S.A.(b)
  1,868   207,196
Acerinox S.A.(a)
  22,659   193,830
ACS Actividades de Construccion y Servicios S.A.
  39,153   905,134
Aena SME S.A.(a)(d)
  3,205   418,027
Amadeus IT Group S.A.
  10,401   520,993
Banco Bilbao Vizcaya Argentaria S.A.
  984,287   3,069,255
Banco de Sabadell S.A.
  1,125,846   384,749
Banco Santander S.A.(a)
  2,703,935   5,782,823
Bankia S.A.(b)
  239,294   303,056
Bankinter S.A.
  58,566   303,472
CaixaBank S.A.
  358,202   770,904
Enagas S.A.
  16,959   428,554
Endesa S.A.
  38,609   1,097,550
Ferrovial S.A.
  20,263   496,951
Grifols S.A.(b)
  8,612   251,537
Iberdrola S.A.
  368,403   4,757,151
Industria de Diseno Textil S.A.
  37,145   989,168
Mapfre S.A.
  155,824   281,184
Merlin Properties SOCIMI S.A.
  16,802   138,880
Naturgy Energy Group S.A.
  32,118   597,798
Red Electrica Corp. S.A.
  26,190   511,619
Repsol S.A.
  274,400   2,135,065
Telefonica S.A.
  833,046   3,495,053
        28,039,949
Sweden-2.35%
Alfa Laval AB(a)
  13,639   323,039
Assa Abloy AB, Class B
  27,734   607,874
Atlas Copco AB, Class A
  20,425   903,760
Atlas Copco AB, Class B
  12,280   474,687
BillerudKorsnas AB
  15,303   245,105
Boliden AB
  23,903   650,338
Castellum AB
  10,696   229,603
Electrolux AB, Series B(b)
  25,601   480,314
Electrolux Professional AB, Class B(a)
  20,097   78,720
Epiroc AB, Class A
  13,479   188,528
Epiroc AB, Class B
  8,312   113,264
Essity AB, Class B(a)
  27,874   919,682
Hennes & Mauritz AB, Class B
  68,708   1,067,479
Hexagon AB, Class B(a)
  6,673   434,083
Husqvarna AB, Class B
  31,070   296,702
ICA Gruppen AB
  6,512   320,761
  Shares   Value
Sweden-(continued)
NCC AB, Class A
  400   $6,976
NCC AB, Class B
  10,171   176,924
Sandvik AB(a)
  53,182   988,957
Securitas AB, Class B(a)
  28,804   430,053
Skandinaviska Enskilda Banken AB, Class A(a)
  133,947   1,296,585
Skandinaviska Enskilda Banken AB, Class C(a)
  1,840   18,602
Skanska AB, Class B(a)
  31,020   626,151
SKF AB, Class B
  32,982   608,986
SSAB AB, Class A(a)
  35,507   104,686
SSAB AB, Class B(a)(b)
  88,282   250,289
Svenska Cellulosa AB S.C.A., Class A(a)
  836   10,173
Svenska Cellulosa AB S.C.A., Class B(a)
  24,812   300,220
Svenska Handelsbanken AB, Class A(a)
  130,972   1,239,927
Svenska Handelsbanken AB, Class B(a)
  3,218   33,969
Swedbank AB, Class A(a)
  119,536   1,940,967
Swedish Match AB
  5,722   440,408
Tele2 AB, Class B
  30,036   426,119
Telefonaktiebolaget LM Ericsson, Class A
  2,236   28,078
Telefonaktiebolaget LM Ericsson, Class B
  174,870   2,015,896
Telia Co. AB
  285,949   1,114,501
Trelleborg AB, Class B(a)
  18,442   285,469
Volvo AB, Class B(a)
  113,286   1,955,050
        21,632,925
Switzerland-6.45%
ABB Ltd.
  103,037   2,579,040
Adecco Group AG
  19,440   922,529
Alcon, Inc.(a)
  20,257   1,224,728
Baloise Holding AG
  3,868   590,171
Barry Callebaut AG
  120   250,500
Chocoladefabriken Lindt & Spruengli AG
  3   257,558
Chocoladefabriken Lindt & Spruengli AG, PC
  29   225,063
Cie Financiere Richemont S.A.
  24,650   1,530,972
Clariant AG
  11,387   215,298
Coca-Cola HBC AG(a)
  8,082   212,471
Credit Suisse Group AG
  235,838   2,518,336
Dufry AG(a)
  3,248   82,619
Geberit AG
  819   453,029
Georg Fischer AG
  261   240,142
Givaudan S.A.
  257   1,062,523
Helvetia Holding AG
  1,864   168,635
Julius Baer Group Ltd.
  12,052   529,933
Kuehne + Nagel International AG(a)
  3,095   533,808
LafargeHolcim Ltd.(a)
  45,336   2,143,455
Lonza Group AG
  1,304   815,054
Nestle S.A.
  101,648   12,078,871
Novartis AG
  69,269   5,746,654
Partners Group Holding AG
  256   247,980
PSP Swiss Property AG
  1,306   146,292
Roche Holding AG
  22,589   7,849,162
Roche Holding AG, BR
  807   278,551
Schindler Holding AG
  690   172,178
Schindler Holding AG, PC
  1,319   334,209
SGS S.A.
  251   659,713
Sika AG
  2,539   559,602
Sonova Holding AG(a)
  1,032   233,241
STMicroelectronics N.V.
  17,772   500,376
Sunrise Communications Group AG(a)(d)
  2,348   219,778
Swatch Group AG (The)
  3,498   139,351
Swatch Group AG (The), BR
  2,326   488,365
Swiss Life Holding AG(a)
  2,856   1,045,138
Swiss Prime Site AG
  3,382   309,128
Swiss Re AG
  28,332   2,234,917
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Switzerland-(continued)
Swisscom AG
  1,630   $870,456
UBS Group AG
  355,791   4,182,901
Vifor Pharma AG
  1,138   160,936
Zurich Insurance Group AG
  11,727   4,333,975
        59,347,638
United Kingdom-14.07%
3i Group PLC
  47,995   560,389
Admiral Group PLC
  10,658   335,727
Aggreko PLC
  20,150   101,768
Ashtead Group PLC
  17,597   562,389
Associated British Foods PLC
  18,818   435,931
AstraZeneca PLC
  43,852   4,909,504
Aviva PLC
  417,563   1,445,211
Babcock International Group PLC
  38,337   145,115
BAE Systems PLC
  206,985   1,331,715
Barclays PLC
  1,928,976   2,545,958
Barratt Developments PLC
  67,171   450,155
Beazley PLC
  27,808   152,343
Bellway PLC
  7,001   233,947
Berkeley Group Holdings PLC
  6,896   403,131
BP PLC
  2,716,586   9,810,523
British American Tobacco PLC
  182,127   6,034,606
British Land Co. PLC (The)
  82,873   398,210
BT Group PLC
  1,074,214   1,389,885
Bunzl PLC
  20,609   594,544
Burberry Group PLC
  17,290   284,231
Capita PLC(a)
  158,331   71,133
Centrica PLC
  1,073,953   687,444
Close Brothers Group PLC
  11,085   159,458
CNH Industrial N.V.(a)
  121,861   833,478
Compass Group PLC
  79,669   1,098,461
Croda International PLC
  4,006   301,276
DCC PLC
  7,550   677,008
Derwent London PLC
  3,915   147,781
Diageo PLC
  74,243   2,729,404
Direct Line Insurance Group PLC
  186,250   724,559
Dixons Carphone PLC
  113,652   109,788
DS Smith PLC
  105,152   360,487
easyJet PLC
  19,688   127,445
Experian PLC
  18,076   635,111
Fiat Chrysler Automobiles N.V.(a)
  350,596   3,573,678
G4S PLC
  152,609   284,525
GlaxoSmithKline PLC
  297,310   5,969,574
GVC Holdings PLC
  19,962   174,126
Hammerson PLC(b)
  112,230   94,538
Hays PLC
  103,453   148,002
Hiscox Ltd.
  16,555   169,829
HSBC Holdings PLC
  1,584,639   7,117,206
IG Group Holdings PLC
  23,976   231,608
IMI PLC
  17,462   239,273
Imperial Brands PLC
  130,587   2,187,005
Inchcape PLC
  36,730   206,909
Informa PLC
  48,709   236,479
InterContinental Hotels Group PLC
  8,138   375,548
Intermediate Capital Group PLC
  10,692   189,028
International Consolidated Airlines Group S.A.
  64,449   139,361
Intertek Group PLC
  3,849   271,686
ITV PLC
  387,543   288,303
J Sainsbury PLC
  294,486   723,359
John Wood Group PLC
  77,101   193,333
Johnson Matthey PLC
  22,075   648,715
Kingfisher PLC
  293,475   931,765
  Shares   Value
United Kingdom-(continued)
Land Securities Group PLC
  56,693   $429,045
Legal & General Group PLC
  599,705   1,684,421
Lloyds Banking Group PLC
  7,985,576   2,754,948
London Stock Exchange Group PLC
  3,775   420,356
M&G PLC
  362,843   764,828
Man Group PLC
  109,279   177,923
Marks & Spencer Group PLC(b)
  363,041   452,571
Meggitt PLC
  44,964   158,633
Micro Focus International PLC
  46,237   168,161
Mondi PLC
  40,931   732,230
National Grid PLC
  314,810   3,720,345
Natwest Group PLC
  377,996   525,887
Next PLC
  6,885   492,493
Ninety One PLC(a)
  36,740   105,122
Pearson PLC(b)
  82,152   572,548
Pennon Group PLC
  21,510   300,811
Persimmon PLC(a)
  18,781   592,094
Phoenix Group Holdings PLC
  39,738   343,500
Prudential PLC
  192,583   2,794,318
Quilter PLC(d)
  123,838   237,792
Reckitt Benckiser Group PLC
  26,756   2,706,134
RELX PLC
  49,968   1,059,165
Rentokil Initial PLC
  37,372   262,029
Rolls-Royce Holdings PLC
  103,718   315,277
Royal Dutch Shell PLC, Class A
  614,183   9,041,385
Royal Dutch Shell PLC, Class B
  548,737   7,784,106
Royal Mail PLC
  169,065   357,034
RSA Insurance Group PLC
  81,530   459,172
Sage Group PLC (The)
  33,214   317,970
Schroders PLC
  5,921   230,419
Segro PLC
  32,121   408,603
Severn Trent PLC
  13,295   427,517
Signature Aviation PLC
  59,476   183,446
Smith & Nephew PLC
  24,882   495,579
Smiths Group PLC
  21,048   374,325
Spectris PLC
  4,959   167,208
SSE PLC
  104,685   1,787,561
St James’s Place PLC
  28,627   354,012
Standard Chartered PLC
  265,705   1,345,430
Standard Life Aberdeen PLC(b)
  232,387   763,740
Subsea 7 S.A.(a)
  35,086   263,719
Tate & Lyle PLC
  32,469   277,513
Taylor Wimpey PLC
  235,820   366,309
TechnipFMC PLC
  45,913   358,437
Tesco PLC
  841,352   2,397,379
Thomas Cook Group PLC(a)(b)(c)
  575,015   0
Travis Perkins PLC
  21,724   316,064
Unilever N.V.
  60,750   3,597,591
Unilever PLC
  45,562   2,734,659
United Utilities Group PLC
  44,633   527,227
Vodafone Group PLC
  3,086,093   4,680,753
Weir Group PLC (The)
  17,413   273,455
Whitbread PLC(a)(b)
  10,661   305,038
William Hill PLC
  82,862   113,487
WM Morrison Supermarkets PLC(b)
  323,013   792,159
WPP PLC
  149,427   1,113,978
        129,567,871
United States-0.43%
Amcor PLC, CDI
  72,575   750,000
Bausch Health Cos., Inc.(a)
  32,429   592,897
Carnival PLC
  12,237   132,761
Ferguson PLC
  12,781   1,139,362
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
United States-(continued)
James Hardie Industries PLC, CDI
  12,511   $259,927
QIAGEN N.V.(a)
  5,480   273,266
Samsonite International S.A.(a)(d)
  103,899   97,193
Tenaris S.A.
  41,569   242,434
Waste Connections, Inc.
  4,535   463,487
        3,951,327
Zambia-0.06%
First Quantum Minerals Ltd.
  62,009   524,033
Total Common Stocks & Other Equity Interests

(Cost $1,066,985,530)
  915,062,592
Money Market Funds-0.22%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(e)(f)

(Cost $2,086,293)
  2,086,293   2,086,293
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.59%

(Cost $1,069,071,823)
  917,148,885
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-2.97%
Invesco Private Government Fund, 0.06%(e)(f)(g)
  20,460,722   $20,460,722
Invesco Private Prime Fund, 0.15%(e)(f)(g)
  6,864,621   6,865,994
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $27,326,716)
  27,326,716
TOTAL INVESTMENTS IN SECURITIES-102.56%

(Cost $1,096,398,539)
  944,475,601
OTHER ASSETS LESS LIABILITIES-(2.56)%
  (23,599,043)
NET ASSETS-100.00%
  $920,876,558
 
Investment Abbreviations:
BR-Bearer Shares
CDI-CREST Depository Interest
CVA-Dutch Certificates
FDR-Fiduciary Depositary Receipt
PC-Participation Certificate
Pfd.-Preferred
REIT-Real Estate Investment Trust
RSP-Registered Savings Plan Shares
Rts.-Rights
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 2020.
(c) Security valued using significant unobservable inputs (Level 3). See Note 1.
(d) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $5,068,623, which represented less than 1% of the Fund’s Net Assets.
(e) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $28,349,038   $(26,262,745)   $-   $-   $2,086,293   $6,412
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 18,667,145   157,012,950   (175,680,095)   -   -   -   122,800
Invesco Liquid Assets Portfolio, Institutional Class 6,222,382   37,725,638   (43,951,427)   (284)   3,691   -   46,410
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF)—(continued)
July 31, 2020
(Unaudited)
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Invesco Private Government Fund $-   $149,919,455   $(129,458,733)   $-   $-   $20,460,722   $2,435
Invesco Private Prime Fund -   18,968,236   (12,103,135)   -   893   6,865,994   1,263
Total $24,889,527   $391,975,317   $(387,456,135)   $(284)   $4,584   $29,413,009   $179,320
    
(f) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(g) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Australia-5.93%
Abacus Property Group
  60,715   $117,127
Adbri Ltd.
  167,583   265,603
ALS Ltd.
  46,829   285,123
Alumina Ltd.
  143,044   155,928
Ansell Ltd.
  20,731   571,645
Atlas Arteria Ltd.
  29,327   138,810
AusNet Services
  432,867   552,567
Austal Ltd.
  42,785   101,255
Australian Pharmaceutical Industries Ltd.
  99,297   78,688
Bapcor Ltd.
  34,275   153,873
Beach Energy Ltd.
  142,052   144,150
Bega Cheese Ltd.(a)
  56,684   180,897
Blackmores Ltd.
  2,373   119,977
Breville Group Ltd.
  9,229   171,620
Brickworks Ltd.
  8,963   104,966
BWP Trust
  59,600   164,557
carsales.com Ltd.
  16,219   214,019
Charter Hall Group
  24,231   182,809
Charter Hall Long Wale REIT
  21,264   70,605
Charter Hall Retail REIT
  61,458   140,157
Cleanaway Waste Management Ltd.
  150,895   226,168
Cochlear Ltd.
  2,584   352,500
Collins Foods Ltd.
  14,388   98,231
Costa Group Holdings Ltd.
  60,427   129,572
Cromwell Property Group(a)
  365,993   232,288
CSR Ltd.
  150,492   376,659
Domino’s Pizza Enterprises Ltd.
  3,572   189,358
Eagers Automotive Ltd.
  33,268   193,490
Eclipx Group Ltd.(b)
  141,672   139,700
Elders Ltd.
  21,853   160,480
Estia Health Ltd.
  62,885   65,618
Evolution Mining Ltd.
  85,220   360,582
FlexiGroup Ltd.(a)
  78,739   70,867
Flight Centre Travel Group Ltd.
  14,488   110,031
G8 Education Ltd.
  234,347   135,290
Genworth Mortgage Insurance Australia Ltd.
  59,981   72,911
GrainCorp Ltd., Class A(b)
  71,445   191,113
Growthpoint Properties Australia Ltd.
  35,416   81,529
GUD Holdings Ltd.
  15,680   126,393
GWA Group Ltd.
  44,573   91,102
Harvey Norman Holdings Ltd.
  137,808   367,644
Healius Ltd.
  116,648   272,712
IGO Ltd.
  46,148   152,237
Iluka Resources Ltd.
  47,445   307,928
Inghams Group Ltd.
  67,735   161,273
InvoCare Ltd.
  15,498   106,142
IOOF Holdings Ltd.(a)
  104,677   342,315
IRESS Ltd.
  21,677   159,654
Link Administration Holdings Ltd.
  69,189   197,483
Magellan Financial Group Ltd.
  4,007   175,751
Mayne Pharma Group Ltd.(b)
  564,829   160,002
McMillan Shakespeare Ltd.
  16,162   102,229
Mineral Resources Ltd.
  23,646   436,492
Monadelphous Group Ltd.
  23,579   150,665
National Storage REIT
  68,419   88,320
New Hope Corp. Ltd.
  84,223   79,125
NEXTDC Ltd.(b)
  17,569   143,510
nib holdings Ltd.
  85,308   271,021
Nine Entertainment Co. Holdings Ltd.
  195,041   189,529
Northern Star Resources Ltd.
  24,111   267,322
NRW Holdings Ltd.
  127,594   167,910
  Shares   Value
Australia-(continued)
Nufarm Ltd.(b)
  82,995   $239,270
OceanaGold Corp.(b)
  160,174   419,717
oOh!media Ltd.
  60,170   32,363
OZ Minerals Ltd.
  68,683   671,360
Pact Group Holdings Ltd.(b)
  62,679   94,395
Pendal Group Ltd.
  47,712   199,141
Perenti Global Ltd.
  136,753   117,197
Perpetual Ltd.
  9,677   210,486
Perseus Mining Ltd.(b)
  115,948   127,638
Platinum Asset Management Ltd.(a)
  44,597   119,296
Premier Investments Ltd.
  11,062   132,959
Qube Holdings Ltd.
  152,139   297,861
REA Group Ltd.
  1,774   138,011
Regis Resources Ltd.
  54,290   219,199
Resolute Mining Ltd.(b)
  113,755   106,053
Sandfire Resources Ltd.
  49,076   166,472
Saracen Mineral Holdings Ltd.(b)
  30,445   131,002
SEEK Ltd.
  31,372   487,541
Seven Group Holdings Ltd.(a)
  15,518   189,522
Shopping Centres Australasia Property Group
  111,115   172,122
Southern Cross Media Group Ltd.
  253,893   30,043
St Barbara Ltd.
  66,518   159,806
Steadfast Group Ltd.
  63,867   153,437
Super Retail Group Ltd.
  43,477   276,874
Sydney Airport
  79,968   299,936
Tassal Group Ltd.
  43,412   112,390
TPG Telecom Ltd.(b)
  44,383   255,907
Tuas Ltd.(b)
  22,180   11,214
United Malt Grp Ltd.(b)
  71,445   205,972
Virgin Australia International Holdings Pty. Ltd.(b)(c)
  112,977   0
Viva Energy Group Ltd.(d)
  257,457   297,263
Vocus Group Ltd.(b)
  94,201   195,238
Washington H Soul Pattinson & Co. Ltd.
  13,084   183,441
Waypoint REIT
  56,410   102,350
Whitehaven Coal Ltd.
  306,556   304,488
Worley Ltd.(a)
  49,263   289,698
        18,767,184
Austria-0.55%
ams AG(b)
  12,252   204,178
CA Immobilien Anlagen AG
  7,337   230,782
DO & CO AG(a)(b)
  977   50,429
IMMOFINANZ AG(a)
  13,681   226,974
Lenzing AG(b)
  3,351   156,323
Oesterreichische Post AG(a)
  6,201   199,082
S IMMO AG
  4,944   86,642
S&T AG(a)(b)
  3,448   94,266
Schoeller-Bleckmann Oilfield Equipment AG
  2,093   54,697
UNIQA Insurance Group AG
  11,953   75,336
Verbund AG
  5,143   270,874
Vienna Insurance Group AG Wiener Versicherung Gruppe(b)
  4,878   108,443
        1,758,026
Belgium-1.40%
Ackermans & van Haaren N.V.(b)
  2,885   371,855
Aedifica S.A.
  1,106   128,169
AGFA-Gevaert N.V.(b)
  41,253   167,321
Barco N.V.
  5,310   104,810
Befimmo S.A.
  3,228   146,959
Bekaert S.A.
  11,144   217,565
bpost S.A.(b)
  33,481   217,752
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Belgium-(continued)
Cie d’Entreprises CFE(b)
  1,216   $77,072
Cofinimmo S.A.
  2,701   386,466
D’ieteren S.A./N.V.
  6,197   336,719
Elia Group S.A./N.V.
  3,507   382,356
Euronav N.V.
  36,960   358,383
Fagron
  4,197   94,098
Galapagos N.V.(b)
  534   99,517
Gimv N.V.
  1,665   89,977
Melexis N.V.
  1,874   160,328
Ontex Group N.V.(b)
  24,403   348,587
Orange Belgium S.A.
  5,500   92,483
Retail Estates N.V.(a)
  1,002   64,101
Telenet Group Holding N.V.
  9,412   367,280
Warehouses De Pauw C.V.A.
  7,083   227,399
        4,439,197
Cambodia-0.05%
NagaCorp Ltd.
  140,754   150,194
Canada-5.78%
Aecon Group, Inc.
  21,509   225,768
Alamos Gold, Inc., Class A
  38,430   406,535
Allied Properties REIT
  11,184   334,894
Aphria, Inc.(a)(b)
  29,242   139,497
Artis REIT(a)
  30,936   181,759
ATS Automation Tooling Systems, Inc.(b)
  10,145   131,328
Aurora Cannabis, Inc.(b)
  4,792   48,832
B2Gold Corp.
  58,180   403,069
Baytex Energy Corp.(b)
  434,192   200,970
BlackBerry Ltd.(b)
  74,267   352,068
Boardwalk REIT
  8,163   186,661
Boyd Group Services, Inc.
  907   132,438
BRP, Inc.
  3,007   134,692
Canadian Western Bank
  17,658   300,562
Canfor Corp.(b)
  34,690   413,846
Canopy Growth Corp.(b)
  14,806   270,366
Cascades, Inc.
  13,882   158,252
Centerra Gold, Inc.
  36,049   452,126
Chartwell Retirement Residences
  29,972   220,846
Choice Properties REIT(a)
  24,930   235,993
Cineplex, Inc.
  13,147   78,519
Cogeco Communications, Inc.
  1,714   130,645
Colliers International Group, Inc.
  2,486   134,461
Cominar REIT, Class U
  45,287   269,795
Corus Entertainment, Inc., Class B
  98,074   175,721
Descartes Systems Group, Inc. (The)(b)
  2,497   140,574
Dollarama, Inc.
  14,219   519,930
Dream Office REIT
  13,034   191,594
ECN Capital Corp.
  30,851   108,710
Element Fleet Management Corp.
  40,423   339,197
Enerflex Ltd.
  36,743   136,329
Enerplus Corp.
  95,564   236,145
First Capital REIT(a)
  27,815   281,992
FirstService Corp.
  1,366   163,369
Genworth MI Canada, Inc.
  6,646   164,674
Granite REIT(a)
  5,399   313,984
Great Canadian Gaming Corp.(b)
  5,247   104,117
Home Capital Group, Inc.(b)
  12,586   211,693
IAMGOLD Corp.(b)
  137,165   685,057
Innergex Renewable Energy, Inc.(a)
  11,813   202,748
Ivanhoe Mines Ltd., Class A(b)
  43,475   153,193
Kelt Exploration Ltd.(a)(b)
  39,264   50,124
Kirkland Lake Gold Ltd.
  6,104   333,339
  Shares   Value
Canada-(continued)
Laurentian Bank of Canada
  13,081   $259,276
Maple Leaf Foods, Inc.
  14,541   319,804
Martinrea International, Inc.
  28,069   208,710
Mullen Group Ltd.
  29,657   212,547
NFI Group, Inc.
  13,515   151,243
Norbord, Inc.
  13,087   425,584
North West Co., Inc. (The)
  11,738   261,137
Northland Power, Inc.
  13,445   368,370
Northview Apartment REIT
  6,296   164,697
Osisko Gold Royalties Ltd.
  12,354   144,799
Pan American Silver Corp.
  9,855   368,229
Paramount Resources Ltd., Class A(a)(b)
  36,075   50,632
Pason Systems, Inc.
  14,985   71,485
PrairieSky Royalty Ltd.
  30,958   194,369
Premium Brands Holdings Corp.
  2,937   207,465
Pretium Resources, Inc.(b)
  16,494   156,382
Quebecor, Inc., Class B
  12,972   295,949
Ritchie Bros. Auctioneers, Inc.
  7,387   341,528
Russel Metals, Inc.
  21,048   281,897
Secure Energy Services, Inc.
  62,465   76,945
ShawCor Ltd.
  18,921   37,432
Shopify, Inc., Class A(b)
  466   476,534
SSR Mining, Inc.(b)
  10,636   254,883
Stantec, Inc.
  13,694   440,723
Stella-Jones, Inc.
  8,007   243,169
Superior Plus Corp.
  43,520   379,155
TMX Group Ltd.
  5,689   581,514
TORC Oil & Gas Ltd.
  51,754   64,523
Torex Gold Resources, Inc.(b)
  8,479   148,691
Toromont Industries Ltd.
  6,920   377,229
TransAlta Renewables, Inc.(a)
  9,499   110,627
Transcontinental, Inc., Class A
  22,620   260,734
Westshore Terminals Investment Corp.(a)
  12,806   164,341
Winpak Ltd.
  4,370   153,170
        18,310,185
China-1.30%
Asia Cement China Holdings Corp.
  90,090   101,944
Budweiser Brewing Co. APAC Ltd.(d)
  75,175   272,563
CapitaLand Retail China Trust
  128,992   115,701
China Harmony Auto Holding Ltd.
  254,221   114,151
China Travel International Investment Hong Kong Ltd.(a)
  776,320   115,193
CITIC Telecom International Holdings Ltd.
  310,730   98,629
FIH Mobile Ltd.(b)
  1,372,982   152,353
Gemdale Properties & Investment Corp. Ltd.
  855,216   151,176
Minth Group Ltd.
  115,934   345,549
MMG Ltd.(a)(b)
  1,302,696   342,894
Nexteer Automotive Group Ltd.
  269,364   170,651
Noble Group Ltd.(b)(c)
  760,360   0
Road King Infrastructure Ltd.
  47,114   63,344
Shui On Land Ltd.
  435,556   64,629
SITC International Holdings Co. Ltd.
  128,661   128,990
Sun Art Retail Group Ltd.
  333,788   463,415
Tingyi Cayman Islands Holding Corp.
  277,878   517,736
Uni-President China Holdings Ltd.
  148,726   161,196
Xinyi Glass Holdings Ltd.
  331,427   485,795
Xinyi Solar Holdings Ltd.
  228,501   250,018
        4,115,927
Colombia-0.08%
Parex Resources, Inc.(b)
  20,278   245,243
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Denmark-1.66%
Alm Brand A/S(b)
  12,738   $130,643
Chr. Hansen Holding A/S
  5,676   646,121
D/S Norden A/S
  10,632   159,683
Demant A/S(b)
  6,347   196,900
Dfds A/S
  6,725   208,733
Drilling Co. of 1972 A/S (The)(a)(b)
  6,525   151,454
FLSmidth & Co. A/S(b)
  14,821   441,313
Genmab A/S(b)
  841   288,271
GN Store Nord A/S
  5,216   319,238
H Lundbeck A/S
  5,997   218,890
NKT A/S(b)
  7,913   220,230
Ringkjoebing Landbobank A/S
  2,782   207,370
Rockwool International A/S, Class B
  857   279,197
Royal Unibrew A/S(b)
  3,367   341,155
Scandinavian Tobacco Group A/S(d)
  15,519   228,893
Schouw & Co. A/S
  1,226   100,826
SimCorp A/S
  1,412   164,993
Sydbank A/S(b)
  13,029   247,811
Topdanmark A/S
  5,622   240,637
Tryg A/S
  15,844   468,127
        5,260,485
Egypt-0.16%
Centamin PLC
  195,513   522,203
Faroe Islands-0.06%
Bakkafrost P/F(b)
  2,895   175,858
Finland-0.90%
Cargotec OYJ, Class B
  15,761   470,780
Citycon OYJ(a)(b)
  10,996   80,097
Finnair OYJ(a)(b)
  81,994   46,327
Kemira OYJ
  26,269   350,702
Kojamo OYJ
  7,429   185,359
Metsa Board OYJ
  45,073   352,572
Sanoma OYJ
  10,189   115,063
TietoEVRY OYJ
  13,569   399,529
Uponor OYJ
  8,210   138,052
Valmet OYJ
  20,772   582,386
YIT OYJ
  21,422   125,138
        2,846,005
France-3.01%
Adevinta ASA, Class B(b)
  7,871   127,270
Akka Technologies(a)(b)
  1,784   37,171
Albioma S.A.
  3,615   162,226
ALD S.A.(d)
  8,783   88,072
Alten S.A.(b)
  2,742   214,648
Beneteau S.A.
  9,470   68,533
BioMerieux
  2,035   330,878
Carmila S.A.
  4,443   52,538
CGG S.A.(b)
  160,920   136,589
Cie Plastic Omnium S.A.
  18,388   371,167
Coface S.A.(b)
  15,899   125,964
Dassault Aviation S.A.(b)
  303   252,600
Derichebourg S.A.
  30,010   87,014
Eramet(a)(b)
  5,681   155,248
Europcar Mobility Group(a)(b)(d)
  98,409   153,956
Fnac Darty S.A.(b)
  7,367   291,660
Gaztransport Et Technigaz S.A.
  1,519   140,554
Iliad S.A.(a)
  3,421   673,143
Ipsen S.A.
  3,815   368,568
Ipsos
  5,965   157,648
JCDecaux S.A.(b)
  13,065   220,462
  Shares   Value
France-(continued)
Korian S.A.(b)
  9,245   $380,004
Maisons du Monde S.A.(b)(d)
  15,504   236,319
Mercialys S.A.
  21,668   163,727
Mersen S.A.(b)
  3,930   105,260
Metropole Television S.A.(b)
  10,928   132,325
Nexans S.A.(b)
  10,420   544,617
Nexity S.A.
  9,214   314,446
Quadient
  5,756   85,081
Rallye S.A.(a)(b)
  12,024   83,177
Remy Cointreau S.A.(a)
  2,340   376,042
Sartorius Stedim Biotech
  479   149,534
SMCP S.A.(a)(b)(d)
  12,200   52,801
Societe BIC S.A.(a)
  8,116   481,298
Sopra Steria Group(b)
  2,454   366,794
Tarkett S.A.(b)
  9,917   123,953
Television Francaise 1(b)
  43,635   251,181
Trigano S.A.
  1,460   167,120
Ubisoft Entertainment S.A.(b)
  6,302   527,461
Vallourec S.A.(a)(b)
  4,311   142,406
Vicat S.A.
  2,339   77,444
Virbac S.A.(b)
  372   81,204
Worldline S.A.(b)(d)
  5,384   462,978
        9,521,081
Georgia-0.02%
Bank of Georgia Group PLC(b)
  5,559   56,691
Germany-4.48%
1&1 Drillisch AG
  11,553   307,109
ADO Properties S.A.(a)(b)(d)
  6,759   191,181
alstria office REIT-AG(b)
  18,607   279,215
Bechtle AG
  2,117   412,803
Bilfinger SE
  10,578   184,250
CANCOM SE
  2,998   180,625
Carl Zeiss Meditec AG, BR(b)
  1,324   138,793
CECONOMY AG(b)
  78,108   281,706
CTS Eventim AG & Co. KGaA(b)
  3,413   135,282
Delivery Hero SE(b)(d)
  1,747   201,955
Deutsche EuroShop AG(b)
  12,784   190,022
Deutz AG(b)
  50,573   254,400
DIC Asset AG
  7,020   91,313
Draegerwerk AG & Co. KGaA, Preference Shares(b)
  2,782   261,203
Duerr AG
  15,878   435,973
DWS Group GmbH & Co. KGaA(d)
  7,253   273,038
ElringKlinger AG(a)(b)
  11,923   72,610
Encavis AG(a)
  8,977   141,820
Evotec SE(a)(b)
  3,531   93,613
Fielmann AG(b)
  2,452   180,493
Fraport AG Frankfurt Airport Services Worldwide(a)(b)
  7,371   287,809
Gerresheimer AG
  4,940   568,383
Grand City Properties S.A.
  15,264   364,243
GRENKE AG(b)
  1,584   119,877
Hamburger Hafen und Logistik AG
  5,020   87,143
Heidelberger Druckmaschinen AG(b)
  102,048   85,858
Hornbach Holding AG & Co. KGaA
  1,893   182,883
Jenoptik AG(a)
  6,432   165,199
Jungheinrich AG, Preference Shares(b)
  15,140   460,108
Kloeckner & Co. SE(b)
  54,675   346,541
Koenig & Bauer AG(b)
  6,016   129,829
Krones AG
  4,421   269,233
KWS Saat SE & Co. KGaA
  1,401   108,844
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Germany-(continued)
Leoni AG(a)(b)
  28,170   $233,677
Nordex SE(a)(b)
  23,054   239,218
Norma Group SE
  7,857   217,593
PATRIZIA AG
  3,686   100,904
Pfeiffer Vacuum Technology AG
  743   148,483
Puma SE(b)
  4,442   345,836
Rational AG
  168   100,522
Rocket Internet SE(b)(d)
  9,978   214,978
Sartorius AG, Preference Shares
  693   266,656
Schaeffler AG, Preference Shares
  35,913   266,269
Scout24 AG(d)
  4,532   393,625
SGL Carbon SE(a)(b)
  20,170   74,773
Siltronic AG
  3,154   283,450
Sirius Real Estate Ltd.
  108,890   105,045
Sixt SE(b)
  2,357   176,984
Sixt SE, Preference Shares
  3,000   152,010
Software AG
  7,173   335,890
Stabilus S.A.
  2,873   144,318
Stroeer SE & Co. KGaA(a)(b)
  2,033   139,554
Suedzucker AG
  24,796   416,948
TAG Immobilien AG(b)
  15,910   418,038
TLG Immobilien AG(b)
  3,730   76,835
Traton SE(b)
  15,850   301,606
Vossloh AG(b)
  1,894   85,331
Wacker Chemie AG(b)
  5,241   474,355
Wacker Neuson SE(b)
  10,416   184,261
Washtec AG(b)
  1,447   59,631
Zalando SE(b)(d)
  8,097   586,355
zooplus AG(b)
  991   171,091
        14,197,590
Ghana-0.09%
Tullow Oil PLC(a)
  823,798   271,606
Hong Kong-1.93%
ASM Pacific Technology Ltd.
  37,309   419,294
Bank of East Asia Ltd. (The)
  87,290   198,678
Brightoil Petroleum Holdings Ltd.(b)(c)
  160,687   0
Cafe de Coral Holdings Ltd.
  72,051   144,284
Cathay Pacific Airways Ltd.(a)
  269,125   181,611
Champion REIT
  397,634   210,869
Chow Sang Sang Holdings International Ltd.
  74,964   79,895
Chow Tai Fook Jewellery Group Ltd.(a)
  286,704   308,892
CK Infrastructure Holdings Ltd.
  58,741   306,203
Dah Sing Financial Holdings Ltd.
  25,515   70,453
Dairy Farm International Holdings Ltd.
  58,026   248,351
Fortune REIT
  190,820   166,194
Guotai Junan International Holdings Ltd.
  725,988   103,041
Haitong International Securities Group Ltd.
  883,368   238,218
Hang Lung Group Ltd.
  89,798   217,132
HKBN Ltd.
  58,730   108,515
Johnson Electric Holdings Ltd.
  57,102   105,065
Kerry Properties Ltd.
  140,989   335,454
Luk Fook Holdings International Ltd.
  36,880   79,088
Man Wah Holdings Ltd.
  242,437   275,276
Mapletree North Asia Commercial Trust
  394,303   245,846
Melco International Development Ltd.
  160,706   303,156
NWS Holdings Ltd.
  242,371   187,637
Pacific Basin Shipping Ltd.
  640,734   78,540
PCCW Ltd.
  472,340   266,332
Sa Sa International Holdings Ltd.(a)
  455,357   65,805
Shangri-La Asia Ltd.
  303,318   219,166
Shun Tak Holdings Ltd.
  648,246   233,363
  Shares   Value
Hong Kong-(continued)
Truly International Holdings Ltd.(b)
  772,753   $91,731
Value Partners Group Ltd.
  214,261   107,819
Vitasoy International Holdings Ltd.
  44,166   167,826
VTech Holdings Ltd.
  32,280   175,141
Yue Yuen Industrial Holdings Ltd.
  112,539   178,606
        6,117,481
India-0.05%
Rhi Magnesita N.V.
  5,147   163,752
Indonesia-0.16%
First Pacific Co. Ltd.
  342,819   71,658
First Resources Ltd.
  75,494   75,423
Golden Agri-Resources Ltd.
  3,235,684   370,453
        517,534
Ireland-0.41%
C&C Group PLC
  49,857   151,487
Cairn Homes PLC
  83,019   83,837
Dalata Hotel Group PLC
  26,769   82,460
Glanbia PLC
  33,304   404,453
Greencore Group PLC
  112,676   189,148
Hibernia REIT PLC
  104,691   140,634
UDG Healthcare PLC
  26,981   252,137
        1,304,156
Israel-1.56%
Airport City Ltd.(b)
  7,596   86,872
Alony Hetz Properties & Investments Ltd.
  9,474   101,305
Amot Investments Ltd.
  11,244   54,200
Azrieli Group Ltd.
  3,233   154,891
Bezeq The Israeli Telecommunication Corp. Ltd.(b)
  492,478   493,021
Cellcom Israel Ltd.(b)
  28,721   111,431
Clal Insurance Enterprises Holdings Ltd.(b)
  16,538   141,938
Delek Group Ltd.(b)
  2,781   61,706
Elbit Systems Ltd.
  2,371   333,114
First International Bank of Israel Ltd.
  9,606   217,404
Gazit-Globe Ltd.(a)
  15,710   65,246
Harel Insurance Investments & Financial Services Ltd.(b)
  37,916   248,297
Israel Corp. Ltd. (The)(b)
  911   78,187
Melisron Ltd.
  1,770   65,811
Mivne Real Estate KD Ltd.(b)
  33,306   64,728
Mizrahi Tefahot Bank Ltd.
  17,862   368,659
Nice Ltd.(b)
  2,282   464,281
Oil Refineries Ltd.
  495,648   92,217
Partner Communications Co. Ltd.(b)
  23,170   94,798
Paz Oil Co. Ltd.
  1,818   143,954
Phoenix Holdings Ltd. (The)(b)
  29,277   131,487
Plus500 Ltd.
  31,127   488,820
Reit 1 Ltd.
  17,113   66,998
Shikun & Binui Ltd.(b)
  26,416   119,492
Shufersal Ltd.
  26,527   187,204
Strauss Group Ltd.
  3,022   85,724
Tower Semiconductor Ltd.(b)
  19,975   416,673
        4,938,458
Italy-2.71%
ACEA S.p.A.
  8,833   181,639
Amplifon S.p.A.(b)
  4,738   162,198
Anima Holding S.p.A.(d)
  61,281   275,946
ASTM S.p.A.(b)
  12,108   257,432
Autogrill S.p.A.(b)
  38,209   182,084
Azimut Holding S.p.A.
  20,887   396,417
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Italy-(continued)
Banca Farmafactoring S.p.A.(d)
  26,786   $152,512
Banca Generali S.p.A.(b)
  7,993   238,183
Banca IFIS S.p.A.(b)
  12,943   132,695
Banca Mediolanum S.p.A.
  51,559   383,797
Banca Popolare di Sondrio SCPA(b)
  57,619   127,820
Buzzi Unicem S.p.A.
  11,950   271,525
Buzzi Unicem S.p.A., RSP
  7,117   91,565
Cairo Communication S.p.A.(b)
  31,769   51,316
Cerved Group S.p.A.(b)
  26,099   216,034
Danieli & C. Officine Meccaniche S.p.A.
  2,498   32,611
Danieli & C. Officine Meccaniche S.p.A., RSP
  8,585   68,423
Davide Campari-Milano N.V.(a)
  33,197   334,182
De Longhi S.p.A.(b)
  13,964   438,570
DiaSorin S.p.A.
  1,001   196,491
Enav S.p.A.(d)
  33,282   136,408
ERG S.p.A.
  10,512   255,818
Fincantieri S.p.A.(a)(b)
  185,700   126,374
Freni Brembo S.p.A.(a)(b)
  25,649   231,721
IMA Industria Macchine Automatiche S.p.A.(a)(b)
  2,627   209,684
Infrastrutture Wireless Italiane S.p.A.(d)
  16,282   164,906
Interpump Group S.p.A.
  6,673   218,418
Iren S.p.A.
  149,260   376,651
Maire Tecnimont S.p.A.(a)(b)
  57,379   102,319
Mediaset S.p.A.(a)(b)
  123,229   219,306
Moncler S.p.A.(b)
  8,601   331,564
Nexi S.p.A.(b)(d)
  8,402   150,670
OVS S.p.A.(a)(b)(d)
  133,223   144,697
Piaggio & C S.p.A.
  47,807   133,754
PRADA S.p.A.(b)
  67,136   259,008
Recordati Industria Chimica e Farmaceutica S.p.A.
  7,491   400,741
Reply S.p.A.
  1,332   122,070
Salvatore Ferragamo S.p.A.(b)
  11,394   153,462
Societa Cattolica di Assicurazioni SC(a)(b)
  50,557   306,989
Technogym S.p.A.(b)(d)
  7,427   63,058
Tods S.p.A.(a)(b)
  4,297   123,778
Webuild S.p.A.(a)
  121,188   156,059
        8,578,895
Ivory Coast-0.14%
Endeavour Mining Corp.(b)
  15,947   429,658
Japan-32.55%
77 Bank Ltd. (The)
  14,824   198,532
ABC-Mart, Inc.
  3,433   181,180
Acom Co. Ltd.
  36,194   127,002
Adastria Co. Ltd.
  8,077   110,999
ADEKA Corp.
  18,163   240,501
Advantest Corp.
  9,626   518,946
Aeon Delight Co. Ltd.
  3,143   94,382
Aeon Mall Co. Ltd.
  25,931   308,288
Aica Kogyo Co. Ltd.
  8,649   278,538
Aida Engineering Ltd.
  11,308   70,374
Aiful Corp.(a)(b)
  51,420   104,075
Ain Holdings, Inc.
  4,013   255,818
Akebono Brake Industry Co. Ltd.(b)
  53,196   76,476
Alpen Co. Ltd.
  5,984   83,764
Amano Corp.
  9,675   181,641
Anritsu Corp.
  11,196   266,002
AOKI Holdings, Inc.
  9,048   46,554
Aoyama Trading Co. Ltd.
  34,104   181,922
Arata Corp.
  4,043   191,959
Arcs Co. Ltd.
  10,215   236,511
Ariake Japan Co. Ltd.
  1,445   89,928
  Shares   Value
Japan-(continued)
Asahi Holdings, Inc.
  7,512   $259,684
Asahi Intecc Co. Ltd.
  3,886   108,351
Asics Corp.
  40,661   449,951
ASKUL Corp.(a)
  3,624   108,483
Autobacs Seven Co. Ltd.
  17,824   207,017
Avex, Inc.
  12,974   103,934
Awa Bank Ltd. (The)
  4,795   102,131
Azbil Corp.
  16,863   559,814
Bank of Kyoto Ltd. (The)(a)
  12,360   451,824
Benesse Holdings, Inc.
  16,511   429,133
Bic Camera, Inc.
  46,111   463,160
BML, Inc.
  3,226   80,429
Bunka Shutter Co. Ltd.
  12,368   81,299
Calbee, Inc.
  9,439   299,516
Canon Electronics, Inc.
  4,876   67,009
Canon Marketing Japan, Inc.
  10,293   193,925
Capcom Co. Ltd.
  4,892   191,090
Central Glass Co. Ltd.
  8,499   152,569
Chiyoda Corp.(b)
  54,774   130,032
Chudenko Corp.(a)
  4,741   98,336
Chugoku Bank Ltd. (The)
  19,551   167,348
Chugoku Marine Paints Ltd.
  9,999   94,287
Citizen Watch Co. Ltd.(a)
  119,599   323,516
CKD Corp.
  8,631   163,836
CMK Corp.
  16,588   56,951
cocokara fine, Inc.
  5,539   301,232
Colowide Co. Ltd.(a)
  7,774   86,688
COMSYS Holdings Corp.
  19,802   580,594
CONEXIO Corp.
  6,578   79,013
Cosmo Energy Holdings Co. Ltd.
  27,695   398,150
Cosmos Pharmaceutical Corp.
  2,174   397,460
Create SD Holdings Co. Ltd.
  3,786   135,892
CyberAgent, Inc.
  8,262   464,947
Daibiru Corp.
  7,237   66,052
Daido Metal Co. Ltd.
  13,578   62,798
Daido Steel Co. Ltd.(a)
  8,880   248,687
Daifuku Co. Ltd.
  7,305   656,365
Daihen Corp.
  4,231   155,066
Daiho Corp.
  5,064   114,231
Daiichikosho Co. Ltd.
  6,773   182,249
Daio Paper Corp.
  16,702   226,211
Daiseki Co. Ltd.
  4,660   99,256
Daishi Hokuetsu Financial Group, Inc.
  5,145   93,966
Daiwabo Holdings Co. Ltd.
  8,956   647,156
DCM Holdings Co. Ltd.
  30,543   383,918
DeNA Co. Ltd.
  22,024   248,090
Descente Ltd.(a)(b)
  7,014   113,108
Dexerials Corp.
  13,700   123,226
Disco Corp.
  2,046   487,069
DMG Mori Co. Ltd.
  25,034   265,896
Doutor Nichires Holdings Co. Ltd.
  5,858   77,900
Dowa Holdings Co. Ltd.
  14,546   423,737
DTS Corp.
  5,682   108,556
Duskin Co. Ltd.
  6,568   162,880
DyDo Group Holdings, Inc.(a)
  3,468   145,142
Eagle Industry Co. Ltd.
  10,604   62,382
Earth Corp.(a)
  2,211   150,983
EDION Corp.
  29,552   284,256
Eizo Corp.
  3,675   136,253
Exedy Corp.
  10,633   130,235
Ezaki Glico Co. Ltd.
  8,940   412,628
Fancl Corp.
  3,401   97,466
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
FCC Co. Ltd.
  10,284   $158,156
Foster Electric Co. Ltd.
  8,176   77,716
FP Corp.
  2,604   210,083
Fuji Corp.(a)
  14,626   256,332
Fuji Media Holdings, Inc.
  19,192   168,813
Fuji Oil Holdings, Inc.(a)
  9,146   242,901
Fuji Seal International, Inc.
  8,662   154,348
Fuji Soft, Inc.
  3,955   177,120
Fujitec Co. Ltd.
  12,727   217,393
Fujitsu General Ltd.
  8,820   214,306
Fukuyama Transporting Co. Ltd.
  2,957   102,361
Furukawa Co. Ltd.
  7,015   67,543
Futaba Industrial Co. Ltd.
  21,584   83,494
Fuyo General Lease Co. Ltd.
  2,696   151,464
Geo Holdings Corp.
  14,088   191,740
Glory Ltd.
  9,773   211,950
GMO internet, Inc.(a)
  7,049   203,343
Godo Steel Ltd.
  3,628   62,520
Gree, Inc.
  22,800   93,805
GS Yuasa Corp.
  23,702   365,405
GungHo Online Entertainment, Inc.
  8,271   150,901
Gunma Bank Ltd. (The)
  89,334   279,670
Gunze Ltd.
  3,447   124,865
H.I.S. Co. Ltd.(a)
  10,236   120,048
H.U. Group Holdings, Inc.
  15,464   345,465
H2O Retailing Corp.(a)
  30,739   175,892
Hachijuni Bank Ltd. (The)
  82,563   304,545
Hamakyorex Co. Ltd.
  3,320   98,441
Hamamatsu Photonics K.K.
  7,684   331,401
Hanwa Co. Ltd.
  13,157   232,080
Hazama Ando Corp.
  58,877   312,956
Heiwa Corp.
  13,207   220,471
Heiwa Real Estate Co. Ltd.
  4,854   117,758
Heiwado Co. Ltd.
  6,736   126,845
Hikari Tsushin, Inc.
  1,874   404,116
Hirata Corp.
  1,761   95,936
Hiroshima Bank Ltd. (The)
  34,171   155,778
Hisamitsu Pharmaceutical Co., Inc.
  8,422   366,815
Hitachi Capital Corp.
  8,739   208,866
Hitachi Transport System Ltd.
  10,417   307,889
Hitachi Zosen Corp.
  84,645   297,014
Hogy Medical Co. Ltd.
  3,511   105,599
Hokkaido Electric Power Co., Inc.
  66,344   255,386
Hokkoku Bank Ltd. (The)
  4,118   107,264
Hokuetsu Corp.
  26,540   88,358
Hokuhoku Financial Group, Inc.
  19,910   165,713
Hokuriku Electric Power Co.
  54,662   349,489
Hokuto Corp.
  4,718   93,218
Horiba Ltd.
  5,920   302,355
Hoshizaki Corp.
  4,157   316,110
Hosiden Corp.
  18,366   156,510
House Foods Group, Inc.
  11,121   338,163
Hulic Co. Ltd.
  38,613   330,875
Ibiden Co. Ltd.
  19,218   516,576
Idec Corp.
  5,134   82,014
IDOM, Inc.
  18,816   86,668
Inaba Denki Sangyo Co. Ltd.
  10,796   247,615
Inabata & Co. Ltd.
  8,313   91,598
Internet Initiative Japan, Inc.
  4,424   156,700
IRISO Electronics Co. Ltd.
  2,562   76,814
Ishihara Sangyo Kaisha Ltd.
  19,258   120,214
Ito En Ltd.
  6,879   404,685
  Shares   Value
Japan-(continued)
Itochu Enex Co. Ltd.
  9,916   $77,280
Itochu Techno-Solutions Corp.
  9,396   379,910
Itoham Yonekyu Holdings, Inc.
  21,763   130,706
Iwatani Corp.(a)
  7,270   255,787
Iyo Bank Ltd. (The)
  35,094   206,455
Izumi Co. Ltd.
  12,344   473,422
Jaccs Co. Ltd.
  7,423   112,402
Jafco Co. Ltd.
  5,855   206,279
Japan Airport Terminal Co. Ltd.
  4,707   161,827
Japan Aviation Electronics Industry Ltd.
  11,110   140,070
Japan Display, Inc.(b)
  498,575   221,631
Japan Lifeline Co. Ltd.
  6,324   77,577
Japan Petroleum Exploration Co. Ltd.
  12,449   200,164
Japan Steel Works Ltd. (The)
  17,630   248,117
Japan Wool Textile Co. Ltd. (The)
  10,364   88,711
Jeol Ltd.
  3,324   91,801
Juki Corp.
  14,029   55,463
JVCKenwood Corp.
  121,215   152,479
Kadokawa Corp.(a)
  9,687   197,441
Kaga Electronics Co. Ltd.
  6,532   123,622
Kagome Co. Ltd.
  10,177   308,496
Kakaku.com, Inc.
  5,638   135,604
Kaken Pharmaceutical Co. Ltd.
  4,793   216,462
Kamigumi Co. Ltd.
  20,774   376,852
Kanamoto Co. Ltd.
  9,781   196,767
Kandenko Co. Ltd.
  32,490   253,823
Kanematsu Corp.
  17,257   187,374
Kansai Mirai Financial Group, Inc.
  19,456   73,238
Kansai Paint Co. Ltd.
  20,506   393,712
Kanto Denka Kogyo Co. Ltd.
  9,020   69,785
Keihan Holdings Co. Ltd.
  11,454   463,663
Keihin Corp.
  13,026   310,712
Kenedix, Inc.(a)
  20,546   93,470
KH Neochem Co. Ltd.
  6,875   125,366
Kinden Corp.
  24,879   385,197
Kintetsu World Express, Inc.
  13,513   229,796
Kissei Pharmaceutical Co. Ltd.
  5,297   110,519
Kitz Corp.
  12,945   81,297
Kiyo Bank Ltd. (The)
  7,554   106,312
Kobayashi Pharmaceutical Co. Ltd.
  3,938   348,621
Koei Tecmo Holdings Co. Ltd.
  4,228   162,554
Kohnan Shoji Co. Ltd.
  7,385   274,502
KOKUYO Co. Ltd.
  15,159   159,146
Komeri Co. Ltd.
  9,968   313,003
Konami Holdings Corp.(a)
  11,044   335,822
Konoike Transport Co. Ltd.
  6,757   64,803
Kose Corp.
  2,288   229,384
Kumagai Gumi Co. Ltd.
  11,254   256,203
Kumiai Chemical Industry Co. Ltd.
  13,201   126,978
Kureha Corp.
  4,835   198,010
Kurita Water Industries Ltd.
  17,555   469,716
Kusuri no Aoki Holdings Co. Ltd.
  1,668   155,394
KYB Corp.(a)(b)
  9,948   161,268
Kyoei Steel Ltd.
  8,287   97,503
KYORIN Holdings, Inc.
  8,513   154,833
Kyoritsu Maintenance Co. Ltd.
  3,507   96,523
Kyowa Exeo Corp.
  19,946   468,607
Kyudenko Corp.
  10,092   283,966
Kyushu Financial Group, Inc.
  77,255   313,463
Leopalace21 Corp.(a)(b)
  122,085   177,822
LINE Corp.(b)
  1,840   97,282
Lintec Corp.
  10,929   252,939
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
Lion Corp.
  26,474   $683,321
LIXIL VIVA Corp.(a)
  5,404   132,838
M3, Inc.
  5,853   297,826
Mabuchi Motor Co. Ltd.(a)
  10,181   302,840
Macnica Fuji Electronics Holdings, Inc.
  15,506   231,864
Maeda Corp.
  42,997   291,174
Maeda Road Construction Co. Ltd.
  5,814   105,744
Makino Milling Machine Co. Ltd.
  7,230   203,778
Mandom Corp.
  5,423   78,321
Maruha Nichiro Corp.
  17,854   341,274
Maruichi Steel Tube Ltd.
  12,191   287,451
Matsui Securities Co. Ltd.(a)
  15,227   123,999
Matsumotokiyoshi Holdings Co. Ltd.
  13,442   446,880
Max Co. Ltd.
  6,740   100,657
Maxell Holdings Ltd.
  14,992   128,041
MCJ Co. Ltd.
  13,558   115,666
Mebuki Financial Group, Inc.
  215,480   476,897
Megmilk Snow Brand Co. Ltd.
  12,472   280,747
Meidensha Corp.
  14,197   209,873
Meitec Corp.
  3,329   153,966
Mirait Holdings Corp.
  18,714   257,001
MISUMI Group, Inc.
  21,961   518,025
Mitsubishi Logisnext Co. Ltd.
  14,150   121,385
Mitsubishi Logistics Corp.
  13,956   372,890
Mitsui-Soko Holdings Co. Ltd.
  7,180   97,449
Miura Co. Ltd.
  5,869   220,094
Mizuho Leasing Co. Ltd.
  5,040   110,734
Mizuno Corp.
  4,280   71,043
Mochida Pharmaceutical Co. Ltd.
  3,801   139,127
Modec, Inc.
  6,832   90,529
Monex Group, Inc.
  49,315   106,345
Morinaga & Co. Ltd.
  5,012   181,793
Morinaga Milk Industry Co. Ltd.
  12,588   585,765
MOS Food Services, Inc.
  3,032   77,685
Musashi Seimitsu Industry Co. Ltd.
  14,800   109,324
Nabtesco Corp.
  16,588   497,342
Nachi-Fujikoshi Corp.
  5,196   143,255
Nagase & Co. Ltd.
  12,584   144,252
Nankai Electric Railway Co. Ltd.
  15,421   301,623
Nanto Bank Ltd. (The)
  4,122   73,879
NEC Networks & System Integration Corp.
  12,264   258,666
NET One Systems Co. Ltd.
  9,574   370,808
Nexon Co. Ltd.
  23,052   595,214
NHK Spring Co. Ltd.
  37,986   210,894
Nichias Corp.
  11,650   250,894
Nichicon Corp.
  17,322   108,293
Nichiha Corp.
  6,496   131,665
NichiiGakkan Co. Ltd.
  11,692   170,299
Nichi-iko Pharmaceutical Co. Ltd.
  15,761   179,478
Nichirei Corp.(a)
  19,266   545,199
Nifco, Inc.
  15,825   352,931
Nihon Kohden Corp.
  8,085   277,962
Nihon M&A Center, Inc.
  2,538   122,903
Nihon Parkerizing Co. Ltd.
  14,403   139,221
Nihon Unisys Ltd.
  6,728   203,310
Nikkiso Co. Ltd.(a)
  17,673   145,924
Nikkon Holdings Co. Ltd.
  8,617   155,584
Nippo Corp.
  12,334   326,752
Nippon Chemi-Con Corp.(b)
  8,986   141,423
Nippon Densetsu Kogyo Co. Ltd.
  4,960   100,345
Nippon Flour Mills Co. Ltd.
  7,041   110,613
Nippon Gas Co. Ltd.
  5,805   272,049
  Shares   Value
Japan-(continued)
Nippon Kayaku Co. Ltd.
  32,445   $315,766
Nippon Koei Co. Ltd.
  3,786   96,933
Nippon Light Metal Holdings Co. Ltd.
  209,999   343,609
Nippon Sheet Glass Co. Ltd.(a)(b)
  60,704   197,505
Nippon Shinyaku Co. Ltd.
  2,417   185,853
Nippon Shokubai Co. Ltd.
  8,626   427,506
Nippon Signal Co. Ltd.
  11,422   108,030
Nippon Soda Co. Ltd.
  5,382   137,388
Nippon Steel Trading Corp.
  4,063   121,048
Nippon Television Holdings, Inc.
  8,564   92,339
Nippon Thompson Co. Ltd.
  25,281   72,450
Nippon Yakin Kogyo Co. Ltd.(a)
  7,172   98,358
Nipro Corp.
  33,610   357,939
Nishimatsu Construction Co. Ltd.
  20,500   377,892
Nishimatsuya Chain Co. Ltd.(a)
  13,957   139,926
Nishi-Nippon Financial Holdings, Inc.
  30,650   190,457
Nishi-Nippon Railroad Co. Ltd.
  7,772   193,547
Nishio Rent All Co. Ltd.
  5,679   107,747
Nissan Chemical Corp.
  11,082   579,622
Nissha Co. Ltd.
  17,655   182,010
Nisshin Oillio Group Ltd. (The)
  5,770   173,815
Nisshinbo Holdings, Inc.(a)
  48,326   286,583
Nissin Electric Co. Ltd.
  10,477   98,002
Nissin Kogyo Co. Ltd.
  9,240   190,603
Nitto Boseki Co. Ltd.(a)
  2,855   133,529
Nitto Kogyo Corp.
  5,722   92,435
NOF Corp.
  9,623   357,688
Nojima Corp.
  7,526   187,776
NOK Corp.
  23,568   254,560
Nomura Co. Ltd.
  9,692   61,784
Nomura Research Institute Ltd.
  19,586   514,241
Noritake Co. Ltd.
  2,211   66,186
North Pacific Bank Ltd.
  54,962   104,487
NS Solutions Corp.
  4,467   116,439
NSD Co. Ltd.
  5,844   106,566
Obic Co. Ltd.
  2,346   419,586
Ogaki Kyoritsu Bank Ltd. (The)
  4,918   95,774
Okamura Corp.
  16,069   103,955
Okasan Securities Group, Inc.
  25,252   71,173
Oki Electric Industry Co. Ltd.(a)
  27,659   244,335
Okinawa Electric Power Co., Inc. (The)
  8,784   136,749
OKUMA Corp.
  7,038   270,590
Okumura Corp.
  7,072   167,218
Onward Holdings Co. Ltd.
  34,847   85,033
Open House Co. Ltd.
  6,642   188,084
Oracle Corp. Japan
  2,421   290,346
Orient Corp.
  129,557   123,761
Osaka Soda Co. Ltd.
  3,585   76,800
OSG Corp.
  16,030   216,503
Otsuka Corp.
  11,024   569,290
Outsourcing, Inc.
  16,953   93,319
Pacific Industrial Co. Ltd.
  10,404   75,966
Paltac Corp.
  5,752   311,184
Paramount Bed Holdings Co. Ltd.
  3,658   155,862
Park24 Co. Ltd.
  15,107   202,894
Pasona Group, Inc.
  8,246   96,475
Penta-Ocean Construction Co. Ltd.
  88,199   460,473
Persol Holdings Co. Ltd.
  32,415   410,208
Pigeon Corp.
  7,043   272,781
Pilot Corp.
  4,313   118,910
Piolax, Inc.
  5,371   73,862
Plenus Co. Ltd.
  4,769   72,936
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
Pola Orbis Holdings, Inc.(a)
  10,102   $166,535
Pressance Corp.
  9,336   102,870
Prima Meat Packers Ltd.
  9,398   249,061
Qol Holdings Co. Ltd.
  6,660   65,006
Raito Kogyo Co. Ltd.
  9,270   128,270
Raiznext Corp.
  7,771   87,243
Relia, Inc.
  6,740   71,014
Relo Group, Inc.
  7,236   125,106
Rengo Co. Ltd.
  69,442   522,145
Resorttrust, Inc.
  14,698   163,759
Restar Holdings Corp.(a)
  6,894   120,823
Ricoh Leasing Co. Ltd.
  2,596   65,262
Rinnai Corp.
  6,045   493,983
Rohto Pharmaceutical Co. Ltd.
  8,711   268,177
Round One Corp.
  15,546   92,191
Royal Holdings Co. Ltd.(a)
  5,392   75,783
Ryobi Ltd.
  6,728   63,952
Ryohin Keikaku Co. Ltd.
  33,096   396,601
Ryoyo Electro Corp.(a)
  5,454   151,142
S Foods, Inc.(a)
  6,576   156,983
Saizeriya Co. Ltd.
  4,856   75,368
Sakata INX Corp.
  8,932   82,198
Sakata Seed Corp.
  3,620   110,418
SAMTY Co. Ltd.
  5,550   60,104
San-A Co. Ltd.
  2,661   99,916
Sanden Holdings Corp.(b)
  18,534   45,051
Sangetsu Corp.
  8,132   111,139
San-In Godo Bank Ltd. (The)
  17,812   82,717
Sanken Electric Co. Ltd.
  7,074   135,954
Sanki Engineering Co. Ltd.
  12,790   139,961
Sankyo Co. Ltd.
  10,548   263,076
Sankyu, Inc.
  10,970   378,186
Sanoh Industrial Co. Ltd.
  9,436   53,994
Sanrio Co. Ltd.(a)
  8,395   121,483
Sanwa Holdings Corp.
  45,943   391,947
Sanyo Chemical Industries Ltd.
  2,966   126,377
Sanyo Denki Co. Ltd.
  2,131   94,427
Sanyo Special Steel Co. Ltd.
  10,706   76,146
Sapporo Holdings Ltd.
  22,319   382,292
Sato Holdings Corp.
  4,787   98,973
Sawai Pharmaceutical Co. Ltd.
  5,861   277,168
SCREEN Holdings Co. Ltd.(a)
  6,793   334,735
SCSK Corp.
  4,340   219,196
Seiko Holdings Corp.
  11,251   153,021
Seiren Co. Ltd.
  6,133   70,188
Senko Group Holdings Co. Ltd.
  21,065   156,000
Senshu Ikeda Holdings, Inc.
  58,947   85,859
Seven Bank Ltd.
  115,695   281,222
Shibaura Machine Co. Ltd.
  4,659   86,852
Shibuya Corp.
  3,567   91,967
Shiga Bank Ltd. (The)
  5,776   125,157
Shikoku Electric Power Co., Inc.
  48,312   324,426
Shima Seiki Manufacturing Ltd.
  8,883   104,432
Shimachu Co. Ltd.
  12,129   330,155
Shimamura Co. Ltd.
  7,259   503,249
Shinko Electric Industries Co. Ltd.
  12,335   183,631
Shinmaywa Industries Ltd.
  17,831   154,649
Ship Healthcare Holdings, Inc.
  7,396   317,581
SHO-BOND Holdings Co. Ltd.
  3,398   145,587
Shochiku Co. Ltd.(a)
  1,003   112,699
Shoei Foods Corp.
  2,538   87,256
Showa Corp.
  10,881   229,085
  Shares   Value
Japan-(continued)
Siix Corp.
  12,132   $94,091
SKY Perfect JSAT Holdings, Inc.
  29,874   109,629
Skylark Holdings Co. Ltd.
  30,980   429,260
Sodick Co. Ltd.
  12,706   98,062
Sohgo Security Services Co. Ltd.
  8,493   398,825
Sotetsu Holdings, Inc.
  10,874   257,631
Square Enix Holdings Co. Ltd.
  7,123   379,965
Star Micronics Co. Ltd.(a)
  7,156   79,797
Starts Corp., Inc.
  5,271   95,968
Sugi Holdings Co. Ltd.
  6,125   443,748
Sumitomo Bakelite Co. Ltd.
  7,415   178,204
Sumitomo Dainippon Pharma Co. Ltd.
  26,430   328,969
Sumitomo Forestry Co. Ltd.
  31,398   351,605
Sumitomo Mitsui Construction Co. Ltd.
  67,059   258,773
Sumitomo Osaka Cement Co. Ltd.
  10,850   363,787
Sumitomo Riko Co. Ltd.
  11,616   54,273
Sumitomo Warehouse Co. Ltd. (The)
  10,820   121,473
Sundrug Co. Ltd.
  12,311   420,342
Suruga Bank Ltd.(a)
  104,507   348,917
Sushiro Global Holdings Ltd.
  7,624   161,234
SWCC Showa Holdings Co. Ltd.
  9,020   103,739
Tadano Ltd.
  35,190   281,573
Taikisha Ltd.
  4,564   127,341
Taisho Pharmaceutical Holdings Co. Ltd.
  7,936   448,103
Taiyo Holdings Co. Ltd.
  2,471   116,387
Taiyo Nippon Sanso Corp.
  18,728   293,859
Taiyo Yuden Co. Ltd.
  14,686   461,151
Takara Holdings, Inc.(a)
  37,300   318,918
Takara Leben Co. Ltd.
  24,040   75,715
Takasago Thermal Engineering Co. Ltd.
  12,075   159,774
Takeuchi Manufacturing Co. Ltd.
  7,458   123,512
Takuma Co. Ltd.
  14,556   201,689
Tamura Corp.
  21,050   83,220
TechnoPro Holdings, Inc.
  2,364   120,291
T-Gaia Corp.
  8,262   147,767
TKC Corp.
  1,764   97,101
Toa Corp.
  8,683   126,225
Toagosei Co. Ltd.
  14,198   133,614
Tocalo Co. Ltd.
  8,166   90,905
Toda Corp.
  37,438   238,303
Toei Co. Ltd.
  1,046   138,405
Toho Co. Ltd.
  12,563   372,505
Toho Gas Co. Ltd.
  13,877   601,122
Toho Holdings Co. Ltd.
  14,884   253,111
Toho Zinc Co. Ltd.(a)(b)
  10,290   139,270
Tokai Carbon Co. Ltd.(a)
  32,978   284,772
TOKAI Holdings Corp.
  14,579   135,545
Tokai Rika Co. Ltd.
  13,835   171,547
Tokai Tokyo Financial Holdings, Inc.
  94,595   202,199
Token Corp.
  1,518   96,481
Tokuyama Corp.
  18,737   434,178
Tokyo Broadcasting System Holdings, Inc.
  9,687   145,859
Tokyo Century Corp.
  8,394   466,025
Tokyo Dome Corp.
  24,648   146,867
Tokyo Ohka Kogyo Co. Ltd.
  5,453   284,693
Tokyo Seimitsu Co. Ltd.
  6,379   200,909
Tokyo Steel Manufacturing Co. Ltd.
  21,550   120,866
Tokyu Construction Co. Ltd.
  31,792   147,338
Tomy Co. Ltd.
  22,309   166,479
Topcon Corp.
  20,425   132,329
Toppan Forms Co. Ltd.
  12,829   120,731
Topre Corp.
  11,763   113,035
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
Toshiba TEC Corp.
  5,748   $219,906
Totetsu Kogyo Co. Ltd.
  3,011   71,594
Towa Pharmaceutical Co. Ltd.
  5,014   89,581
Toyo Construction Co. Ltd.
  27,859   96,438
Toyo Engineering Corp.(b)
  17,362   49,592
Toyo Ink SC Holdings Co. Ltd.
  5,793   104,102
Toyo Tire Corp.(a)
  30,302   402,383
Toyobo Co. Ltd.
  29,093   401,188
Toyota Boshoku Corp.
  25,272   293,521
TPR Co. Ltd.
  5,457   65,858
Trancom Co. Ltd.
  1,390   100,178
Transcosmos, Inc.
  5,759   139,005
Trusco Nakayama Corp.
  7,821   183,449
TS Tech Co. Ltd.
  13,474   339,877
Tsubaki Nakashima Co. Ltd.
  13,910   91,830
Tsubakimoto Chain Co.
  5,568   129,444
Tsumura & Co.
  12,597   313,465
TV Asahi Holdings Corp.
  6,557   89,552
UACJ Corp.
  12,439   206,474
Uchida Yoko Co. Ltd.
  2,022   121,439
Ulvac, Inc.
  10,610   311,085
Unipres Corp.
  11,541   85,578
United Arrows Ltd.
  6,660   87,809
United Super Markets Holdings, Inc.
  9,949   119,975
Unitika Ltd.(b)
  52,914   157,646
Ushio, Inc.
  23,840   278,242
USS Co. Ltd.
  19,781   293,918
Valor Holdings Co. Ltd.
  10,030   217,334
Wacoal Holdings Corp.
  9,699   162,919
Wacom Co. Ltd.
  28,074   151,881
Welcia Holdings Co. Ltd.
  5,062   464,404
World Co. Ltd.
  7,554   88,450
Yamaguchi Financial Group, Inc.
  50,942   299,205
Yamato Kogyo Co. Ltd.
  10,099   204,788
Yaoko Co. Ltd.
  3,337   265,117
Yellow Hat Ltd.
  7,238   94,608
Yokogawa Bridge Holdings Corp.
  6,016   105,037
Yokohama Reito Co. Ltd.
  10,290   81,752
Yoshinoya Holdings Co. Ltd.(a)
  8,320   141,644
Yuasa Trading Co. Ltd.
  3,212   85,396
Zenkoku Hosho Co. Ltd.
  4,554   157,643
Zensho Holdings Co. Ltd.(a)
  14,619   262,984
Zeon Corp.
  33,157   316,737
ZERIA Pharmaceutical Co. Ltd.
  4,809   84,918
Zojirushi Corp.(a)
  5,392   72,264
ZOZO, Inc.
  5,385   145,664
        103,066,593
Jordan-0.12%
Hikma Pharmaceuticals PLC
  13,992   394,837
Kazakhstan-0.07%
KAZ Minerals PLC
  30,941   219,538
Luxembourg-0.17%
Eurofins Scientific SE(b)
  809   527,875
Macau-0.32%
MGM China Holdings Ltd.
  117,771   146,640
SJM Holdings Ltd.
  396,488   446,613
Wynn Macau Ltd.
  242,139   424,279
        1,017,532
Mexico-0.13%
Fresnillo PLC
  25,012   404,608
  Shares   Value
Mongolia-0.10%
Turquoise Hill Resources Ltd.(b)
  363,068   $303,573
Netherlands-1.91%
Adyen N.V.(b)(d)
  209   350,201
AMG Advanced Metallurgical Group N.V.
  6,664   118,597
Arcadis N.V.(b)
  14,868   305,037
ASM International N.V.
  3,022   457,231
BE Semiconductor Industries N.V.
  7,771   343,860
Corbion N.V.
  4,092   157,744
Eurocommercial Properties N.V., CVA
  10,395   128,084
Euronext N.V.(d)
  4,302   492,941
Flow Traders(d)
  6,406   236,343
Fugro N.V., CVA(a)(b)
  28,160   112,485
GrandVision N.V.(b)(d)
  4,567   130,962
IMCD N.V.
  3,895   403,287
Intertrust N.V.(d)
  12,696   235,404
Just Eat Takeaway.com N.V.(b)(d)
  2,023   219,053
Koninklijke Vopak N.V.
  9,304   509,942
NIBC Holding N.V.(d)
  10,578   91,437
NSI N.V.
  1,560   55,894
OCI N.V.(a)(b)
  15,721   186,087
PostNL N.V.
  313,135   763,151
Sligro Food Group N.V.
  4,900   76,948
TKH Group N.V., CVA
  7,203   282,953
TomTom N.V.(b)
  12,901   103,203
Vastned Retail N.V.
  3,538   89,531
Wereldhave N.V.(a)
  22,344   193,275
        6,043,650
New Zealand-0.94%
a2 Milk Co. Ltd.(b)
  10,094   140,131
Air New Zealand Ltd.
  52,487   46,852
Auckland International Airport Ltd.
  78,750   334,690
Chorus Ltd.
  62,864   312,401
Contact Energy Ltd.
  84,198   327,557
EBOS Group Ltd.
  6,475   94,030
Fisher & Paykel Healthcare Corp. Ltd.
  18,531   444,399
Goodman Property Trust
  59,358   87,782
Infratil Ltd.
  30,362   97,690
Kiwi Property Group Ltd.
  87,067   62,060
Mercury NZ Ltd.
  67,188   209,017
Meridian Energy Ltd.
  116,084   375,821
Metlifecare Ltd.
  21,951   86,420
Ryman Healthcare Ltd.
  21,248   188,253
SKYCITY Entertainment Group Ltd.
  51,828   85,968
Z Energy Ltd.
  45,369   85,228
        2,978,299
Norway-1.21%
Aker BP ASA
  13,372   250,315
Aker Solutions ASA(a)(b)
  155,189   248,881
Austevoll Seafood ASA
  23,181   195,583
BW Offshore Ltd.
  33,778   116,378
DNO ASA(a)
  235,388   148,303
Elkem ASA(d)
  88,755   168,245
Entra ASA(d)
  21,848   308,269
Frontline Ltd.
  24,579   196,007
Grieg Seafood ASA
  6,404   64,895
Kongsberg Gruppen ASA
  7,491   113,534
Leroy Seafood Group ASA
  43,759   254,297
Norwegian Air Shuttle ASA(a)(b)
  24,625   6,162
Norwegian Finans Holding ASA(b)
  19,188   141,709
Ocean Yield ASA(a)
  19,029   46,321
PGS ASA(b)
  161,231   56,846
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Norway-(continued)
Salmar ASA(b)
  6,570   $312,332
Schibsted ASA, Class A(b)
  4,711   171,704
Schibsted ASA, Class B(b)
  5,726   188,704
SpareBank 1 SMN
  14,600   125,274
SpareBank 1 SR-Bank ASA(b)
  17,810   140,948
TGS NOPEC Geophysical Co. ASA
  17,582   258,728
TOMRA Systems ASA(b)
  5,088   209,206
Veidekke ASA(b)
  7,859   106,647
        3,829,288
Peru-0.16%
Hochschild Mining PLC
  34,722   122,408
Hudbay Minerals, Inc.
  127,382   400,357
        522,765
Poland-0.93%
Alior Bank S.A.(a)(b)
  37,378   146,090
Bank Millennium S.A.(b)
  58,986   44,892
CCC S.A.(a)
  5,678   84,387
Cyfrowy Polsat S.A.
  27,225   203,112
Grupa Lotos S.A.
  26,200   340,871
Jastrzebska Spolka Weglowa S.A.
  54,009   238,736
KRUK S.A.
  2,473   85,291
LPP S.A.(b)
  75   138,678
mBank S.A.(b)
  1,454   73,018
Orange Polska S.A.(b)
  110,896   209,064
PGE Polska Grupa Energetyczna S.A.(b)
  142,183   252,311
PLAY Communications S.A.(d)
  24,868   215,783
Polskie Gornictwo Naftowe i Gazownictwo S.A.
  413,607   567,267
Santander Bank Polska S.A.(b)
  4,288   172,823
Tauron Polska Energia S.A.(a)(b)
  264,492   184,141
        2,956,464
Portugal-0.38%
Altri SGPS S.A.
  14,092   69,888
CTT-Correios de Portugal S.A.(b)
  72,273   194,428
Mota-Engil SGPS S.A.(b)
  68,276   94,462
Navigator Co. S.A. (The)
  92,943   232,339
NOS, SGPS S.A.
  68,099   301,816
REN - Redes Energeticas Nacionais SGPS S.A.
  47,806   138,500
Sonae SGPS S.A.
  237,345   166,712
        1,198,145
Singapore-1.74%
AIMS APAC REIT
  94,953   83,092
Ascendas India Trust
  75,006   76,576
Ascott Residence Trust
  169,597   110,690
BOC Aviation Ltd.(d)
  28,520   164,860
BW LPG Ltd.(d)
  33,808   138,750
CapitaLand Commercial Trust
  276,320   324,419
CDL Hospitality Trusts
  137,109   96,985
ESR-REIT
  277,540   78,933
Ezion Holdings Ltd., Wts. expiring April 16, 2023(b)(c)
  177,436   0
Ezra Holdings Ltd.(b)(c)
  1,165,297   0
Frasers Centrepoint Trust
  68,625   119,104
Frasers Logistics & Commercial Trust
  296,845   292,234
IGG, Inc.
  176,077   172,437
Jardine Cycle & Carriage Ltd.
  20,040   292,277
Keppel DC REIT
  65,334   141,979
Keppel Infrastructure Trust
  318,575   126,612
Keppel REIT
  249,606   200,224
Manulife US Real Estate Investment Trust
  140,563   108,233
Mapletree Commercial Trust
  202,723   272,012
  Shares   Value
Singapore-(continued)
Mapletree Industrial Trust
  134,249   $319,151
Mapletree Logistics Trust
  232,240   360,732
NetLink NBN Trust
  319,178   223,446
SATS Ltd.
  94,792   189,404
Sembcorp Industries Ltd.
  218,794   276,025
Sembcorp Marine Ltd.(b)
  221,877   61,484
Singapore Exchange Ltd.
  66,444   395,863
Singapore Post Ltd.
  166,125   86,012
StarHub Ltd.
  111,692   99,369
Suntec REIT
  309,876   302,803
UOL Group Ltd.
  82,639   398,943
        5,512,649
South Korea-8.69%
Amorepacific Group
  6,243   279,295
Asiana Airlines, Inc.(b)
  97,515   333,944
BGF retail Co. Ltd.
  1,506   157,375
BNK Financial Group, Inc.
  59,481   256,616
Celltrion Healthcare Co. Ltd.(b)
  2,117   167,917
Celltrion, Inc.(b)
  2,704   672,936
Cheil Worldwide, Inc.
  13,592   219,042
CJ CGV Co. Ltd.(b)
  5,443   90,001
CJ Corp.
  5,329   368,566
CJ ENM Co. Ltd.
  2,304   222,587
CJ Logistics Corp.(b)
  2,669   342,754
Com2uSCorp.
  1,453   147,081
Daeduck Co. Ltd.
  4,551   26,166
Daeduck Electronics Co. Ltd.(b)
  8,522   100,141
Daesang Corp.
  6,533   139,828
Daewoo Engineering & Construction Co. Ltd.(b)
  67,049   196,408
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(b)
  10,276   203,985
Daishin Securities Co. Ltd.
  9,049   78,611
Daishin Securities Co. Ltd., Preference Shares
  5,890   45,928
Daou Technology, Inc.
  6,914   120,418
DB HiTek Co. Ltd.
  5,570   159,423
DGB Financial Group, Inc.
  53,788   232,506
Doosan Bobcat, Inc.
  7,982   180,556
Doosan Co. Ltd.
  5,592   222,948
Doosan Heavy Industries & Construction Co. Ltd.(b)
  75,779   667,853
Doosan Infracore Co. Ltd.(b)
  67,431   402,413
Fila Holdings Corp.
  6,025   168,906
Green Cross Corp.
  1,105   210,538
GS Holdings Corp.
  12,578   369,506
GS Home Shopping, Inc.
  975   86,747
GS Retail Co. Ltd.
  9,331   269,028
Handsome Co. Ltd.
  4,452   113,224
Hanjin Kal Corp.
  2,590   182,609
Hanjin Transportation Co. Ltd.
  7,400   318,634
Hankook Tire & Technology Co. Ltd.
  20,419   446,462
Hanmi Pharm Co. Ltd.
  457   101,074
Hanon Systems
  31,654   264,625
Hanssem Co. Ltd.
  1,766   151,194
Hanwha Aerospace Co. Ltd.(b)
  12,140   247,610
Hanwha Corp.
  12,360   263,508
Hanwha Corp., Preference Shares
  6,250   62,164
Hanwha Life Insurance Co. Ltd.
  154,584   190,084
HDC Holdings Co. Ltd.
  22,860   186,311
HDC Hyundai Development Co.-Engineering & Construction, Class E
  8,216   149,645
Hite Jinro Co. Ltd.
  7,144   249,147
HMM Co. Ltd.(b)
  61,611   304,073
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
South Korea-(continued)
Hotel Shilla Co. Ltd.
  3,932   $232,012
HS Industries Co. Ltd.
  8,499   49,222
Huchems Fine Chemical Corp.
  6,814   95,227
Hyosung Corp.
  3,854   220,940
Hyundai Construction Equipment Co. Ltd.(b)
  7,615   145,410
Hyundai Department Store Co. Ltd.
  6,365   318,944
Hyundai Electric & Energy System Co. Ltd.(b)
  18,834   196,813
Hyundai Elevator Co. Ltd.
  4,892   190,112
Hyundai Home Shopping Network Corp.
  1,670   84,944
Hyundai Marine & Fire Insurance Co. Ltd.
  21,007   410,830
Hyundai Mipo Dockyard Co. Ltd.
  6,143   160,871
Hyundai Rotem Co. Ltd.(b)
  17,010   257,706
Hyundai Wia Corp.
  10,455   333,465
Innocean Worldwide, Inc.
  1,819   76,339
IS Dongseo Co. Ltd.
  4,301   158,120
JB Financial Group Co. Ltd.
  23,928   92,386
Kakao Corp.
  2,280   657,361
Kangwon Land, Inc.
  22,589   433,237
KCC Corp.
  1,726   194,852
KEPCO Plant Service & Engineering Co. Ltd.
  5,428   134,174
KIWOOM Securities Co. Ltd.
  2,859   230,371
Kolon Industries, Inc.
  7,913   223,827
Korea Aerospace Industries Ltd.
  10,660   214,292
Korea Gas Corp.
  18,163   386,463
Korea Investment Holdings Co. Ltd.
  9,248   378,024
Korea Line Corp.(b)
  6,137   83,705
Korea Petrochemical Ind Co. Ltd.
  2,249   219,916
Korean Reinsurance Co.
  28,738   171,984
Kumho Petrochemical Co. Ltd.
  6,817   484,068
Kumho Tire Co., Inc.(b)
  28,642   69,477
LF Corp.
  8,270   82,950
LG Innotek Co. Ltd.
  4,091   552,838
LG International Corp.
  11,459   145,233
LIG Nex1 Co. Ltd.
  4,530   127,946
Lotte Chilsung Beverage Co. Ltd.
  1,071   90,793
Lotte Corp.
  8,201   213,388
LOTTE Fine Chemical Co. Ltd.
  5,587   205,163
Lotte Himart Co. Ltd.
  6,838   175,054
LS Corp.
  6,393   225,102
LS Electric Co. Ltd.
  4,866   218,917
Mando Corp.
  16,667   385,409
Meritz Fire & Marine Insurance Co. Ltd.
  13,261   138,019
Meritz Securities Co. Ltd.
  102,569   265,161
NCSoft Corp.
  813   553,419
Netmarble Corp.(b)(d)
  1,455   156,320
NH Investment & Securities Co. Ltd.
  43,252   318,745
NHN Corp.(b)
  2,099   145,172
NongShim Co. Ltd.
  815   252,421
OCI Co. Ltd.(b)
  9,464   445,636
Orion Corp.
  2,699   303,564
Ottogi Corp.
  225   105,380
Pan Ocean Co. Ltd.(b)
  69,262   204,344
Paradise Co. Ltd.
  7,068   77,716
Partron Co. Ltd.
  10,079   94,750
Poongsan Corp.
  8,282   168,574
Posco International Corp.
  15,977   185,732
S&T Motiv Co. Ltd.(b)
  2,526   95,197
S-1 Corp.
  3,051   231,757
Samsung Biologics Co. Ltd.(b)(d)
  235   144,582
Samsung Card Co. Ltd.
  7,543   179,173
Samsung Engineering Co. Ltd.(b)
  40,511   404,634
Samsung Securities Co. Ltd.
  16,875   410,048
  Shares   Value
South Korea-(continued)
Seoul Semiconductor Co. Ltd.
  8,244   $122,823
SFA Engineering Corp.
  3,515   103,851
Shinsegae, Inc.
  2,240   392,949
SK Chemicals Co. Ltd.
  2,663   601,265
SK Discovery Co. Ltd.
  6,999   284,331
SK Networks Co. Ltd.
  70,857   302,721
SKC Co. Ltd.
  4,697   275,575
Ssangyong Cement Industrial Co. Ltd.
  25,094   106,577
Taeyoung Engineering & Construction Co. Ltd.
  14,232   191,130
WONIK IPS Co. Ltd.(b)
  3,228   103,635
Youngone Corp.
  8,792   178,216
Yuhan Corp.
  5,328   256,248
        27,497,937
Spain-1.76%
Almirall S.A.(b)
  10,057   111,967
Applus Services S.A.(b)
  26,946   209,026
Atresmedia Corp de Medios de Comunicacion S.A.
  33,113   90,451
Befesa S.A.(d)
  5,161   209,024
Bolsas y Mercados Espanoles SHMSF S.A.
  633   24,641
Cellnex Telecom S.A.(a)(d)
  3,584   225,551
Cia de Distribucion Integral Logista Holdings S.A.
  15,647   291,231
CIE Automotive S.A.
  9,020   143,886
Construcciones y Auxiliar de Ferrocarriles S.A.(b)
  2,785   95,999
Distribuidora Internacional de Alimentacion S.A.(a)(b)
  911,822   120,546
Ebro Foods S.A.
  5,831   131,008
EDP Renovaveis S.A.
  14,791   242,766
Ence Energia y Celulosa S.A.
  35,934   108,567
Faes Farma S.A.
  26,800   113,137
Gestamp Automocion S.A.(d)
  111,422   268,783
Global Dominion Access S.A.(d)
  22,876   75,472
Indra Sistemas S.A.(a)(b)
  25,436   191,597
Inmobiliaria Colonial SOCIMI S.A.
  31,192   266,491
Lar Espana Real Estate Socimi S.A.
  12,853   67,634
Liberbank S.A.(b)
  380,097   72,993
Masmovil Ibercom S.A.(b)
  6,501   174,351
Mediaset Espana Comunicacion S.A.(b)
  60,712   199,582
Melia Hotels International S.A.(b)
  27,903   103,737
Prosegur Cash S.A.(d)
  71,517   58,944
Prosegur Cia de Seguridad S.A., Prosegur Cia de Seguridad S.A.
  63,464   167,353
Sacyr S.A.
  144,251   325,802
Siemens Gamesa Renewable Energy S.A.
  27,815   653,713
Tecnicas Reunidas S.A.(b)
  13,368   167,087
Unicaja Banco S.A.(b)(d)
  198,937   110,658
Viscofan S.A.
  5,663   416,857
Zardoya Otis S.A.
  20,109   133,637
        5,572,491
Sweden-4.37%
AAK AB(b)
  15,449   273,504
Addtech AB, Class B
  3,663   171,170
AF Poyry AB, Class B(b)
  9,592   245,725
Arjo AB, Class B
  27,492   170,411
Atrium Ljungberg AB, Class B
  6,102   94,071
Attendo AB(b)(d)
  20,540   107,117
Avanza Bank Holding AB
  8,615   167,493
Axfood AB
  21,388   483,336
Beijer Ref AB
  3,364   131,729
Betsson AB(a)(b)
  35,659   268,341
Bilia AB, Class A(b)
  18,489   180,789
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Sweden-(continued)
Bonava AB, Class B
  27,290   $183,516
Bravida Holding AB(b)(d)
  30,598   335,586
Bure Equity AB
  4,981   136,374
Clas Ohlson AB, Class B
  10,806   122,223
Cloetta AB, Class B(b)
  39,192   108,021
Dios Fastigheter AB
  11,444   77,677
Dometic Group AB(b)(d)
  54,105   526,945
Elekta AB, Class B(a)
  28,623   293,433
Fabege AB
  25,592   327,073
Fastighets AB Balder, Class B(b)
  7,361   303,988
Getinge AB, Class B
  29,864   716,549
Hexpol AB(b)
  41,884   278,781
Holmen AB, Class B(b)
  13,446   461,017
Hufvudstaden AB, Class A
  6,155   80,106
Indutrade AB(b)
  7,854   397,732
Intrum AB(a)
  13,048   308,295
Investment AB Latour, Class B(a)
  6,907   141,632
JM AB
  15,242   450,604
Klovern AB, Class B(a)
  61,745   98,507
Klovern AB, Preference Shares
  2,036   74,045
Kungsleden AB
  24,293   195,590
Lifco AB, Class B
  2,477   189,799
Lindab International AB
  9,029   140,434
Loomis AB(b)
  12,300   295,123
Lundin Energy AB
  11,586   268,054
Mekonomen AB(b)
  13,957   118,357
Modern Times Group MTG AB, Class B(b)
  13,190   179,961
Mycronic AB(a)
  6,447   122,688
NetEnt AB(b)
  39,686   347,209
Nibe Industrier AB, Class B(b)
  17,072   410,012
Nobia AB(b)
  33,988   201,154
Nolato AB, Class B(b)
  1,962   163,464
Nordic Entertainment Group AB, Class B(b)
  7,164   299,703
Nyfosa AB(b)
  14,408   107,435
Pandox AB(b)
  10,988   138,230
Peab AB, Class B(b)
  48,999   457,827
Ratos AB, Class B(b)
  82,309   293,317
Resurs Holding AB(d)
  26,731   133,717
Saab AB, Class B(a)(b)
  16,998   546,451
SAS AB(a)(b)
  263,286   237,874
Scandic Hotels Group AB(a)(d)
  33,998   116,645
Sweco AB, Class B
  5,438   312,202
Swedish Orphan Biovitrum AB(b)
  8,087   169,528
Thule Group AB(d)
  9,875   293,406
Wallenstam AB, Class B
  14,147   177,000
Wihlborgs Fastigheter AB
  12,524   210,262
        13,841,232
Switzerland-3.96%
Allreal Holding AG
  1,892   378,109
ALSO Holding AG(b)
  993   259,793
Aryzta AG(b)
  487,824   309,683
Autoneum Holding AG(a)(b)
  1,697   173,580
Banque Cantonale Vaudoise
  3,584   377,035
Belimo Holding AG
  24   189,953
BKW AG
  3,074   297,702
Bobst Group S.A.
  2,261   135,456
Bucher Industries AG
  1,066   351,779
Burckhardt Compression Holding AG
  505   127,957
Cembra Money Bank AG
  3,040   333,174
Conzzeta AG
  177   165,968
Daetwyler Holding AG, BR
  899   182,626
DKSH Holding AG
  8,597   553,319
  Shares   Value
Switzerland-(continued)
dormakaba Holding AG(b)
  420   $235,693
EFG International AG(b)
  15,956   105,064
Emmi AG
  218   197,103
EMS-Chemie Holding AG
  624   539,492
Flughafen Zurich AG(b)
  2,473   312,625
Forbo Holding AG
  105   163,900
Galenica AG(d)
  6,840   510,913
GAM Holding AG(b)
  77,422   189,449
Huber + Suhner AG
  2,448   190,523
Implenia AG
  5,892   257,779
Ina Invest Holding AG(b)
  1,183   24,708
Inficon Holding AG
  167   136,398
IWG PLC
  77,400   234,464
Komax Holding AG(a)(b)
  498   73,356
Landis+Gyr Group AG(b)
  3,229   198,773
Logitech International S.A.
  10,982   800,140
Mediclinic International PLC
  83,312   293,706
Mobimo Holding AG(b)
  757   213,445
OC Oerlikon Corp. AG
  43,222   361,569
Rieter Holding AG
  936   77,168
Schweiter Technologies AG, BR
  164   202,273
SFS Group AG
  2,290   216,489
Siegfried Holding AG(b)
  315   165,378
SIG Combibloc Group AG(b)
  29,120   509,288
St Galler Kantonalbank AG
  191   86,503
Stadler Rail AG
  3,367   134,724
Straumann Holding AG
  262   257,997
Sulzer AG
  4,661   385,300
Tecan Group AG, Class R
  554   233,731
Temenos AG
  1,219   180,900
u-blox Holding AG(b)
  1,242   89,904
Valiant Holding AG
  1,676   157,154
Valora Holding AG(b)
  988   162,911
VAT Group AG(b)(d)
  1,681   320,419
Vetropack Holding AG(b)
  1,578   87,946
Vontobel Holding AG
  3,866   281,546
Wizz Air Holdings PLC(b)(d)
  2,467   104,132
        12,528,997
Taiwan-0.04%
FIT Hon Teng Ltd.(b)(d)
  295,449   142,574
Turkey-0.12%
Eldorado Gold Corp.(b)
  29,067   365,209
Ukraine-0.08%
Ferrexpo PLC
  105,662   246,298
United Arab Emirates-0.03%
Borr Drilling Ltd.(b)
  40,629   36,002
Network International Holdings PLC(b)(d)
  11,050   58,593
NMC Health PLC(b)(c)
  2,523   0
        94,595
United Kingdom-7.31%
888 Holdings PLC
  56,899   137,112
AG Barr PLC
  11,402   64,350
Airtel Africa PLC(d)
  108,743   76,786
Ascential PLC(d)
  32,414   114,867
Ashmore Group PLC
  31,228   160,012
Assura PLC
  209,739   217,473
Auto Trader Group PLC(d)
  29,082   204,821
Avast PLC(d)
  13,826   104,252
AVEVA Group PLC
  2,471   134,462
B&M European Value Retail S.A.
  111,489   677,504
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
United Kingdom-(continued)
Balfour Beatty PLC
  143,212   $452,245
Big Yellow Group PLC
  14,400   192,591
Bodycote PLC
  35,378   261,421
Brewin Dolphin Holdings PLC
  37,096   127,807
Britvic PLC
  39,550   414,496
Cairn Energy PLC(b)
  77,657   121,902
Capital & Counties Properties PLC
  100,768   185,029
Card Factory PLC
  112,428   63,230
Chemring Group PLC
  34,199   107,278
Cineworld Group PLC(a)
  231,605   116,121
Coats Group PLC
  168,941   125,724
Computacenter PLC
  13,458   350,270
Concentric AB(b)
  5,624   96,221
ConvaTec Group PLC(d)
  132,644   354,110
Countryside Properties PLC(d)
  37,736   140,364
Cranswick PLC
  5,787   271,917
Crest Nicholson Holdings PLC
  66,654   163,681
Daily Mail and General Trust PLC, Class A
  20,453   169,389
Dechra Pharmaceuticals PLC
  4,164   156,087
Dialog Semiconductor PLC(b)
  10,253   470,418
Diploma PLC
  6,139   146,162
Domino’s Pizza Group PLC
  43,907   183,603
Drax Group PLC
  100,501   369,341
Dunelm Group PLC
  11,245   181,536
Electrocomponents PLC
  51,532   443,690
Elementis PLC
  111,542   93,402
Equiniti Group PLC(d)
  50,506   84,717
Essentra PLC
  28,020   110,844
Firstgroup PLC(b)
  177,343   82,165
Frasers Group PLC(b)
  46,688   154,298
Games Workshop Group PLC
  1,465   168,823
Genus PLC
  3,613   161,230
Go-Ahead Group PLC (The)
  7,619   62,000
Grafton Group PLC
  40,205   339,569
Grainger PLC
  49,482   188,471
Great Portland Estates PLC
  36,139   279,662
Greggs PLC
  8,828   138,462
Halfords Group PLC
  45,320   86,844
Halma PLC
  16,098   460,181
Hargreaves Lansdown PLC
  13,676   313,941
Hastings Group Holdings PLC(d)
  48,844   133,600
Hill & Smith Holdings PLC
  6,483   102,958
HomeServe PLC
  21,114   368,017
Howden Joinery Group PLC
  50,558   325,350
Hunting PLC
  42,333   99,623
Ibstock PLC(d)
  56,352   117,526
Indivior PLC(b)
  189,029   340,890
Intu Properties PLC(a)(b)(c)
  628,322   1,465
J D Wetherspoon PLC
  8,211   91,065
JD Sports Fashion PLC
  18,608   147,906
John Laing Group PLC(d)
  46,795   181,307
Jupiter Fund Management PLC
  102,433   304,917
Just Group PLC(b)
  152,513   89,678
Lancashire Holdings Ltd.
  26,883   273,274
LondonMetric Property PLC
  71,519   216,837
Marshalls PLC
  13,949   108,841
Marston’s PLC
  150,708   79,517
McCarthy & Stone PLC(b)(d)
  51,308   44,311
Metro Bank PLC(a)(b)
  88,693   120,251
Mitchells & Butlers PLC(b)
  32,028   64,316
Moneysupermarket.com Group PLC
  56,137   216,619
Morgan Advanced Materials PLC
  36,950   105,238
  Shares   Value
United Kingdom-(continued)
National Express Group PLC
  51,370   $102,146
NewRiver REIT PLC
  62,649   50,241
Ocado Group PLC(b)
  12,835   345,847
OneSavings Bank PLC
  37,322   115,605
PageGroup PLC
  64,343   295,576
Paragon Banking Group PLC
  49,828   205,484
Petrofac Ltd.
  93,134   171,134
Pets at Home Group PLC
  81,637   333,660
Picton Property Income Ltd. (The)
  67,992   60,683
Playtech PLC
  80,190   313,854
Polypipe Group PLC
  19,274   102,453
Premier Oil PLC(a)(b)
  413,893   191,816
Primary Health Properties PLC
  77,714   156,875
Provident Financial PLC
  50,024   107,677
PZ Cussons PLC
  33,858   84,611
QinetiQ Group PLC
  63,565   255,126
Rank Group PLC
  22,652   40,612
Rathbone Brothers PLC
  4,783   101,698
Redde Northgate PLC
  32,676   70,935
Redrow PLC
  30,852   173,149
Renishaw PLC
  2,769   175,755
Restaurant Group PLC (The)
  98,992   57,428
Rightmove PLC
  23,585   171,245
Rotork PLC
  81,519   299,154
Safestore Holdings PLC
  17,049   171,071
Saga PLC
  252,890   50,120
Savills PLC
  19,951   195,869
Senior PLC
  75,417   51,670
Serco Group PLC(b)
  165,462   346,167
Shaftesbury PLC
  28,842   194,386
SIG PLC
  124,826   45,874
Softcat PLC
  7,070   117,013
Spirax-Sarco Engineering PLC
  4,210   569,692
Spirent Communications PLC
  41,966   154,225
SSP Group PLC
  50,753   136,957
St Modwen Properties PLC
  14,225   57,505
Stagecoach Group PLC
  80,925   50,367
Superdry PLC
  19,096   28,848
Synthomer PLC
  63,353   241,137
TalkTalk Telecom Group PLC
  97,213   88,676
Telecom Plus PLC
  8,030   141,228
TP ICAP PLC
  79,426   345,682
Tritax Big Box REIT PLC
  174,507   346,767
UK Commercial Property REIT Ltd.
  103,651   93,461
Ultra Electronics Holdings PLC
  9,654   301,820
UNITE Group PLC (The)(b)
  17,909   220,717
Vectura Group PLC
  74,993   98,330
Vesuvius PLC
  53,288   285,357
Victrex PLC
  12,232   300,861
Virgin Money UK PLC(b)
  203,464   233,559
Vistry Group PLC
  26,688   215,247
WH Smith PLC
  11,697   144,312
Workspace Group PLC
  16,031   129,400
        23,153,469
United States-0.36%
Alacer Gold Corp.(b)
  29,565   228,442
Primo Water Corp.
  23,498   333,480
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
United States-(continued)
Reliance Worldwide Corp. Ltd.
  88,551   $170,192
Sims Ltd.
  70,099   399,658
        1,131,772
Total Common Stocks & Other Equity Interests

(Cost $317,478,015)
  316,237,799
Money Market Funds-0.39%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(e)(f)

(Cost $1,236,969)
  1,236,969   1,236,969
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.27%

(Cost $318,714,984)
  317,474,768
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-5.59%
Invesco Private Government Fund, 0.06%(e)(f)(g)
  13,257,205   $13,257,205
Invesco Private Prime Fund, 0.15%(e)(f)(g)
  4,429,905   4,430,791
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $17,687,663)
  17,687,996
TOTAL INVESTMENTS IN SECURITIES-105.86%

(Cost $336,402,647)
  335,162,764
OTHER ASSETS LESS LIABILITIES-(5.86)%
  (18,563,768)
NET ASSETS-100.00%
  $316,598,996
 
Investment Abbreviations:
BR-Bearer Shares
CVA-Dutch Certificates
REIT-Real Estate Investment Trust
RSP-Registered Savings Plan Shares
Wts.-Warrants
    
Notes to Schedule of Investments:
(a) All or a portion of this security was out on loan at July 31, 2020.
(b) Non-income producing security.
(c) Security valued using significant unobservable inputs (Level 3). See Note 1.
(d) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $12,950,464, which represented 4.09% of the Fund’s Net Assets.
(e) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $138,610   $13,545,270   $(12,446,911)   $-   $-   $1,236,969   $3,545
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 15,926,925   28,479,806   (44,406,731)   -   -   -   87,107
Invesco Liquid Assets Portfolio, Institutional Class 5,308,975   8,025,743   (13,334,050)   (228)   (440)   -   33,407
Invesco Private Government Fund -   38,886,096   (25,628,891)   -   -   13,257,205   1,379
Invesco Private Prime Fund -   6,821,466   (2,391,171)   333   163   4,430,791   758
Total $21,374,510   $95,758,381   $(98,207,754)   $105   $(277)   $18,924,965   $126,196
    
(f) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(g) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco FTSE RAFI Emerging Markets ETF (PXH)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-96.65%
Brazil-9.46%
Ambev S.A.
  1,275,750   $3,406,378
B3 S.A. - Brasil, Bolsa, Balcao
  205,285   2,501,687
Banco Bradesco S.A.
  555,711   2,212,895
Banco Bradesco S.A., Preference Shares
  2,107,236   9,083,402
Banco BTG Pactual S.A.
  52,100   864,897
Banco do Brasil S.A.
  668,958   4,315,112
Banco Santander Brasil S.A.
  211,700   1,215,512
Braskem S.A., Class A, Preference Shares
  180,909   792,333
BRF S.A.(a)
  286,400   1,138,822
CCR S.A.
  366,700   1,053,792
Centrais Eletricas Brasileiras S.A.
  179,010   1,270,243
Centrais Eletricas Brasileiras S.A., Class B, Preference Shares
  84,700   625,594
Cia Brasileira de Distribuicao
  95,879   1,307,659
Cia de Saneamento Basico do Estado de Sao Paulo
  97,892   1,144,248
Cia Energetica de Minas Gerais
  51,680   121,313
Cia Energetica de Minas Gerais, Preference Shares
  601,923   1,387,505
Cia Paranaense de Energia
  9,200   117,293
Cia Paranaense de Energia, Class B, Preference Shares
  47,908   610,883
Cia Siderurgica Nacional S.A.
  358,082   842,619
Cielo S.A.
  1,092,622   1,127,085
Cogna Educacao
  690,500   1,098,264
Embraer S.A.(a)
  427,067   624,300
Equatorial Energia S.A.
  146,000   716,005
Gerdau S.A., Preference Shares
  532,517   1,785,013
IRB Brasil Resseguros S.A.
  212,000   324,569
Itau Unibanco Holding S.A.
  289,100   1,382,802
Itau Unibanco Holding S.A., Preference Shares
  2,680,675   13,846,738
Klabin S.A.
  209,700   832,226
Lojas Americanas S.A.
  33,810   199,971
Lojas Americanas S.A., Preference Shares
  117,020   766,526
Lojas Renner S.A.
  80,646   637,168
Marfrig Global Foods S.A.(a)
  286,000   791,667
Metalurgica Gerdau S.A., Preference Shares
  1,093,500   1,688,836
Petrobras Distribuidora S.A.
  388,600   1,694,498
Petroleo Brasileiro S.A.
  1,191,962   5,197,575
Petroleo Brasileiro S.A., Preference Shares
  1,909,147   8,141,508
Suzano S.A.(a)
  130,268   1,050,992
Telefonica Brasil S.A.
  14,900   150,437
Telefonica Brasil S.A., Preference Shares
  222,843   2,253,772
TIM Participacoes S.A.
  281,566   851,870
Ultrapar Participacoes S.A.
  820,792   2,986,246
Vale S.A.
  1,513,738   17,653,201
        99,813,456
Canada-0.08%
Canadian Solar, Inc.(a)
  40,064   887,017
Chile-0.69%
Banco de Chile
  17,716,304   1,701,199
Banco Santander Chile
  30,585,911   1,331,509
Enel Americas S.A.
  12,394,201   1,923,427
Enel Chile S.A.
  10,163,412   872,811
Falabella S.A.
  316,572   1,129,285
Latam Airlines Group S.A.(a)
  178,886   307,483
        7,265,714
  Shares   Value
China-38.65%
Agile Group Holdings Ltd.
  758,413   $961,936
Agricultural Bank of China Ltd., A Shares
  7,019,900   3,248,696
Agricultural Bank of China Ltd., H Shares
  21,466,628   7,616,994
Air China Ltd., A Shares
  215,400   210,786
Air China Ltd., H Shares
  879,707   545,972
Alibaba Group Holding Ltd., ADR(a)
  93,964   23,586,843
Aluminum Corp. of China Ltd., A Shares(a)
  901,200   424,808
Aluminum Corp. of China Ltd., H Shares(a)
  3,898,094   1,000,904
Anhui Conch Cement Co. Ltd., A Shares
  66,600   586,084
Anhui Conch Cement Co. Ltd., H Shares
  280,196   2,116,781
ANTA Sports Products Ltd.
  105,339   998,996
Baidu, Inc., ADR(a)
  64,421   7,691,867
Bank of China Ltd., A Shares
  3,546,500   1,692,076
Bank of China Ltd., H Shares
  49,414,072   16,577,196
Bank of Communications Co. Ltd., A Shares
  2,516,593   1,716,310
Bank of Communications Co. Ltd., H Shares
  6,352,903   3,524,746
Baoshan Iron & Steel Co. Ltd., A Shares
  1,183,900   834,557
Beijing Enterprises Holdings Ltd.
  218,326   763,417
Beijing Enterprises Water Group Ltd.(a)
  2,038,677   865,429
BYD Co. Ltd., A Shares
  26,000   318,094
BYD Co. Ltd., H Shares(b)
  128,705   1,229,724
China CITIC Bank Corp. Ltd., A Shares
  597,801   441,959
China CITIC Bank Corp. Ltd., H Shares
  7,806,249   3,404,444
China Communications Construction Co. Ltd., A Shares
  388,600   439,851
China Communications Construction Co. Ltd., H Shares
  4,516,949   2,628,505
China Communications Services Corp. Ltd., H Shares
  1,421,104   920,485
China Conch Venture Holdings Ltd.
  201,165   864,338
China Construction Bank Corp., A Shares
  440,500   386,254
China Construction Bank Corp., H Shares
  55,562,910   40,721,185
China Everbright Bank Co. Ltd., A Shares
  2,252,500   1,219,923
China Everbright Bank Co. Ltd., H Shares
  2,326,455   873,524
China Everbright International Ltd.
  1,600,342   989,089
China Evergrande Group(b)
  1,165,775   3,271,607
China Gas Holdings Ltd.
  284,494   855,295
China Jinmao Holdings Group Ltd.
  2,166,530   1,473,202
China Life Insurance Co. Ltd., A Shares
  87,500   457,465
China Life Insurance Co. Ltd., H Shares
  1,755,824   4,046,220
China Longyuan Power Group Corp. Ltd., H Shares
  1,667,530   1,194,136
China Merchants Bank Co. Ltd., A Shares
  520,900   2,597,223
China Merchants Bank Co. Ltd., H Shares
  1,338,786   6,244,628
China Merchants Port Holdings Co. Ltd.
  587,603   672,504
China Minsheng Banking Corp. Ltd., A Shares
  2,214,545   1,757,802
China Minsheng Banking Corp. Ltd., H Shares
  5,659,114   3,563,324
China Mobile Ltd.
  3,135,597   21,483,342
China National Building Material Co. Ltd., H Shares
  3,390,178   5,257,921
China Overseas Land & Investment Ltd.
  1,800,383   5,482,315
China Pacific Insurance (Group) Co. Ltd., A Shares
  176,900   747,950
China Pacific Insurance (Group) Co. Ltd., H Shares
  937,539   2,715,769
China Petroleum & Chemical Corp., A Shares
  2,474,700   1,418,268
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Emerging Markets ETF (PXH)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
China-(continued)
China Petroleum & Chemical Corp., H Shares
  25,496,085   $10,921,912
China Railway Construction Corp. Ltd., A Shares
  990,000   1,246,809
China Railway Construction Corp. Ltd., H Shares
  2,048,650   1,636,234
China Railway Group Ltd., H Shares
  4,019,697   2,033,136
China Resources Land Ltd.
  1,019,061   4,247,074
China Resources Power Holdings Co. Ltd.
  854,860   1,089,781
China Shenhua Energy Co. Ltd., A Shares
  381,600   838,159
China Shenhua Energy Co. Ltd., H Shares
  2,514,206   4,191,317
China Southern Airlines Co. Ltd., A Shares(a)
  423,101   323,107
China Southern Airlines Co. Ltd., H Shares(a)(b)
  1,013,091   469,278
China State Construction Engineering Corp. Ltd., A Shares
  3,159,237   2,276,805
China Taiping Insurance Holdings Co. Ltd.
  952,875   1,689,312
China Telecom Corp. Ltd., H Shares
  10,037,557   2,991,762
China Tower Corp. Ltd., H Shares(c)
  8,453,905   1,538,026
China Unicom Hong Kong Ltd.
  4,808,148   2,680,086
China United Network Communications Ltd., A Shares
  1,325,600   964,832
China Vanke Co. Ltd., A Shares
  277,400   1,066,755
China Vanke Co. Ltd., H Shares
  592,838   1,866,435
CIFI Holdings Group Co. Ltd.
  1,284,061   1,153,140
CITIC Ltd.
  1,279,517   1,200,239
CITIC Securities Co. Ltd., A Shares
  160,000   686,811
CITIC Securities Co. Ltd., H Shares
  483,628   1,125,732
CNOOC Ltd.
  8,676,199   9,179,741
Country Garden Holdings Co. Ltd.
  3,234,764   4,152,912
CRRC Corp. Ltd., A Shares
  801,254   670,438
CRRC Corp. Ltd., H Shares
  1,800,682   782,986
CSPC Pharmaceutical Group Ltd.
  453,996   952,488
Dongfeng Motor Group Co. Ltd., H Shares
  1,484,015   1,062,719
ENN Energy Holdings Ltd.
  139,752   1,693,210
Fosun International Ltd.
  1,347,718   1,535,489
GCL-Poly Energy Holdings Ltd.(a)
  17,787,784   550,833
Geely Automobile Holdings Ltd.
  1,100,061   2,313,617
GF Securities Co. Ltd., A Shares
  142,000   317,387
GF Securities Co. Ltd., H Shares
  484,251   580,461
Great Wall Motor Co. Ltd., A Shares
  122,500   234,311
Great Wall Motor Co. Ltd., H Shares
  1,563,654   1,527,297
Guangdong Investment Ltd.
  610,463   986,168
Guangzhou Automobile Group Co. Ltd., A Shares
  63,700   98,569
Guangzhou Automobile Group Co. Ltd., H Shares
  811,921   776,281
Guangzhou R&F Properties Co. Ltd., H Shares
  1,165,678   1,343,127
Haier Electronics Group Co. Ltd.(d)
  377,552   1,438,801
Haitong Securities Co. Ltd., A Shares(a)
  178,500   360,606
Haitong Securities Co. Ltd., H Shares(a)
  988,004   917,864
Hengan International Group Co. Ltd.
  202,359   1,698,466
Huadian Power International Corp. Ltd., A Shares
  587,209   305,404
Huadian Power International Corp. Ltd., H Shares
  2,054,709   623,025
Huaneng Power International, Inc., A Shares
  560,200   376,436
Huaneng Power International, Inc., H Shares
  4,904,738   2,094,744
  Shares   Value
China-(continued)
Huatai Securities Co. Ltd., A Shares
  130,100   $387,532
Huatai Securities Co. Ltd., H Shares(c)
  411,280   742,938
Huaxia Bank Co. Ltd., A Shares
  876,000   798,246
Industrial & Commercial Bank of China Ltd., A Shares
  3,366,412   2,392,350
Industrial & Commercial Bank of China Ltd., H Shares
  44,981,314   26,581,820
Industrial Bank Co. Ltd., A Shares
  944,600   2,119,412
JD.com, Inc., ADR(a)
  120,142   7,663,858
Jiangxi Copper Co. Ltd., A Shares
  138,700   321,736
Jiangxi Copper Co. Ltd., H Shares
  1,095,141   1,304,244
Kunlun Energy Co. Ltd.
  2,043,452   1,708,545
Kweichow Moutai Co. Ltd., A Shares
  5,500   1,322,443
Longfor Group Holdings Ltd.(c)
  435,641   2,152,854
Meituan Dianping, B Shares(a)
  154,174   3,817,449
Metallurgical Corp. of China Ltd., A Shares
  1,227,200   492,322
Metallurgical Corp. of China Ltd., H Shares
  3,117,629   526,966
NetEase, Inc., ADR
  6,674   3,059,495
New China Life Insurance Co. Ltd., A Shares
  50,500   382,467
New China Life Insurance Co. Ltd., H Shares
  286,434   1,119,836
Peoples Insurance Co. Group of China Ltd. (The), H Shares
  3,073,181   999,254
PetroChina Co. Ltd., H Shares
  18,445,146   6,402,085
PICC Property & Casualty Co. Ltd., H Shares
  2,926,852   2,311,209
Ping An Bank Co. Ltd., A Shares
  548,700   1,048,737
Ping An Insurance (Group) Co. of China Ltd., A Shares
  190,400   2,070,544
Ping An Insurance (Group) Co. of China Ltd., H Shares
  1,338,880   14,183,124
Postal Savings Bank of China Co. Ltd., H Shares(c)
  3,855,383   2,124,137
SAIC Motor Corp. Ltd., A Shares
  549,756   1,431,989
Shanghai Pharmaceuticals Holding Co. Ltd., A Shares
  79,700   234,093
Shanghai Pharmaceuticals Holding Co. Ltd., H Shares
  506,412   899,103
Shanghai Pudong Development Bank Co. Ltd., A Shares
  1,446,252   2,146,740
Shenzhou International Group Holdings Ltd.
  79,676   950,947
Shimao Group Holdings Ltd.
  683,626   2,897,617
Sino Biopharmaceutical Ltd.(b)
  926,763   1,207,750
Sinopec Shanghai Petrochemical Co. Ltd., A Shares
  345,200   177,558
Sinopec Shanghai Petrochemical Co. Ltd., H Shares
  2,828,479   631,373
Sinopharm Group Co. Ltd., H Shares
  741,258   1,765,583
Sunac China Holdings Ltd.
  423,704   1,995,458
Tencent Holdings Ltd.
  265,730   18,309,182
Trip.com Group Ltd., ADR(a)
  81,036   2,204,179
Vipshop Holdings Ltd., ADR(a)
  116,663   2,656,417
Weichai Power Co. Ltd., A Shares
  142,700   331,014
Weichai Power Co. Ltd., H Shares
  638,541   1,377,565
Xiaomi Corp., B Shares(a)(c)
  1,328,757   2,540,861
Yangzijiang Shipbuilding Holdings Ltd.
  1,286,484   858,407
Yanzhou Coal Mining Co. Ltd., A Shares
  71,300   93,984
Yanzhou Coal Mining Co. Ltd., H Shares
  1,437,981   1,122,524
Zijin Mining Group Co. Ltd., A Shares
  375,800   314,984
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Emerging Markets ETF (PXH)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
China-(continued)
Zijin Mining Group Co. Ltd., H Shares
  1,528,118   $948,395
ZTO Express Cayman, Inc., ADR
  36,034   1,335,060
        407,915,252
Hong Kong-0.09%
Nine Dragons Paper Holdings Ltd.
  902,008   943,883
India-8.07%
Axis Bank Ltd.
  339,736   1,960,194
Bharat Petroleum Corp. Ltd.
  613,037   3,390,806
Bharti Airtel Ltd.(a)
  307,091   2,277,553
Bharti Infratel Ltd.
  300,404   771,363
Coal India Ltd.
  1,053,167   1,819,507
GAIL (India) Ltd.
  549,982   710,520
Grasim Industries Ltd.
  161,440   1,366,076
HCL Technologies Ltd.
  208,158   1,962,146
Hero MotoCorp Ltd.
  36,402   1,302,322
Hindalco Industries Ltd.
  766,845   1,671,812
Hindustan Petroleum Corp. Ltd.
  704,791   2,025,464
Hindustan Unilever Ltd.
  47,928   1,415,754
Housing Development Finance Corp. Ltd.
  217,655   5,184,298
Indiabulls Housing Finance Ltd.
  315,728   801,849
Indian Oil Corp. Ltd.
  1,482,465   1,752,702
Infosys Ltd.
  693,305   8,952,149
ITC Ltd.
  628,746   1,631,693
Jindal Steel & Power Ltd.(a)
  402,143   993,632
JSW Steel Ltd.
  486,878   1,433,382
Larsen & Toubro Ltd.
  87,377   1,066,861
Mahindra & Mahindra Ltd.
  246,098   1,994,936
Maruti Suzuki India Ltd.
  19,583   1,639,344
NTPC Ltd.
  1,330,355   1,547,079
Oil & Natural Gas Corp. Ltd.
  1,759,250   1,841,260
Power Finance Corp. Ltd.
  522,041   564,171
REC Ltd.
  557,075   745,745
Reliance Industries Ltd.
  585,573   16,179,622
Shriram Transport Finance Co. Ltd.
  49,198   454,611
State Bank of India(a)
  805,695   2,061,825
Sun Pharmaceutical Industries Ltd.
  217,479   1,545,645
Tata Consultancy Services Ltd.
  122,189   3,726,142
Tata Motors Ltd.(a)
  1,479,698   2,069,847
Tata Motors Ltd., Class A(a)
  574,480   287,960
Tata Steel Ltd.
  269,309   1,318,602
Tech Mahindra Ltd.
  84,589   770,728
Vedanta Ltd.
  1,938,438   2,948,628
Vodafone Idea Ltd.(a)
  16,061,905   1,803,442
Wipro Ltd.
  296,552   1,113,668
Yes Bank Ltd.
  409,658   65,436
        85,168,774
Indonesia-1.07%
PT Astra International Tbk
  3,719,789   1,312,117
PT Bank Central Asia Tbk
  893,145   1,908,639
PT Bank Mandiri (Persero) Tbk
  4,890,998   1,942,999
PT Bank Negara Indonesia (Persero) Tbk
  2,805,019   883,773
PT Bank Rakyat Indonesia (Persero) Tbk
  11,261,826   2,437,491
PT Telekomunikasi Indonesia (Persero) Tbk
  13,455,248   2,810,857
        11,295,876
Malaysia-0.68%
CIMB Group Holdings Bhd.
  1,003,500   849,661
Malayan Banking Bhd.
  980,400   1,773,507
MISC Bhd.
  622,900   1,159,123
  Shares   Value
Malaysia-(continued)
Public Bank Bhd.
  507,000   $2,032,783
Tenaga Nasional Bhd.
  504,500   1,361,198
        7,176,272
Mexico-2.66%
America Movil S.A.B. de C.V., Series L(b)
  11,390,498   7,180,654
Cemex S.A.B. de C.V., Series CPO(e)
  14,609,006   4,489,610
Coca-Cola FEMSA S.A.B. de C.V., Series L
  195,213   808,579
Fibra Uno Administracion S.A. de C.V.
  1,163,755   941,303
Fomento Economico Mexicano, S.A.B. de C.V., Series CPO(b)(f)
  623,299   3,835,513
Grupo Financiero Banorte S.A.B. de C.V., Class O
  940,949   3,387,790
Grupo Mexico S.A.B. de C.V., Class B
  939,860   2,380,567
Grupo Televisa S.A.B., Series CPO(a)(b)(g)
  987,883   1,108,430
Orbia Advance Corp. S.A.B. de C.V.(b)
  404,428   642,215
Wal-Mart de Mexico S.A.B. de C.V., Series V
  1,377,126   3,241,136
        28,015,797
Romania-0.05%
NEPI Rockcastle PLC
  108,784   568,491
Russia-8.76%
Aeroflot PJSC(a)
  584,152   649,701
Alrosa PJSC
  1,251,850   1,152,284
Gazprom PJSC
  9,551,423   23,426,647
Inter RAO UES PJSC
  14,743,393   1,146,990
LUKOIL PJSC
  245,688   16,827,786
Magnit PJSC
  72,484   4,451,839
MMC Norilsk Nickel PJSC
  13,594   3,599,056
Mobile TeleSystems PJSC
  578,431   2,540,926
Moscow Exchange MICEX-RTS PJSC
  525,695   942,266
Novatek PJSC, GDR
  176,853   2,602,304
Novolipetsk Steel PJSC
  661,713   1,296,989
Rosneft Oil Co. PJSC
  706,721   3,394,927
Rosseti PJSC
  43,378,988   930,562
RusHydro PJSC
  87,785,364   898,052
Sberbank of Russia PJSC
  4,738,831   14,120,232
Severstal PAO
  149,085   1,826,084
Sistema PJSFC
  4,262,074   1,134,715
Surgutneftegas PJSC
  4,379,303   2,192,233
Surgutneftegas PJSC, Preference Shares
  4,894,434   2,467,909
Tatneft PJSC
  526,888   3,910,526
Tatneft PJSC, Preference Shares
  50,922   368,608
VTB Bank PJSC(a)
  4,870,997,019   2,528,291
        92,408,927
South Africa-4.50%
Absa Group Ltd.
  369,520   1,720,358
Aspen Pharmacare Holdings Ltd.(a)
  192,714   1,498,821
Bid Corp. Ltd.
  106,032   1,747,820
Bidvest Group Ltd. (The)
  128,776   997,615
Discovery Ltd.
  129,755   844,498
Exxaro Resources Ltd.
  116,521   919,304
FirstRand Ltd.
  1,290,600   2,942,147
Foschini Group Ltd. (The)
  113,839   465,417
Gold Fields Ltd.
  223,755   2,924,139
Growthpoint Properties Ltd.
  1,044,991   815,558
Impala Platinum Holdings Ltd.
  93,327   826,906
Mr Price Group Ltd.
  85,602   636,859
MTN Group Ltd.
  559,980   1,944,783
MultiChoice Group(a)
  184,672   1,144,660
Naspers Ltd., Class N
  25,441   4,702,209
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Emerging Markets ETF (PXH)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
South Africa-(continued)
Nedbank Group Ltd.
  184,967   $1,140,297
Netcare Ltd.
  822,726   657,070
Old Mutual Ltd.
  2,460,240   1,657,136
Remgro Ltd.
  180,017   977,111
Sanlam Ltd.
  619,923   2,213,757
Sappi Ltd.(a)
  683,225   982,985
Sasol Ltd.(a)
  343,112   2,745,098
Shoprite Holdings Ltd.
  329,651   2,024,318
Sibanye Stillwater Ltd.(a)
  384,599   1,088,610
SPAR Group Ltd. (The)
  112,802   1,092,995
Standard Bank Group Ltd.
  521,939   3,328,946
Telkom S.A. SOC Ltd.
  507,948   863,545
Tiger Brands Ltd.
  96,971   1,004,119
Truworths International Ltd.
  304,995   584,423
Vodacom Group Ltd.
  248,501   1,874,182
Woolworths Holdings Ltd.
  579,884   1,080,509
        47,446,195
Taiwan-16.17%
ASE Technology Holding Co. Ltd.
  1,359,000   3,507,157
Asia Cement Corp.
  910,000   1,241,001
Asustek Computer, Inc.
  191,738   1,417,033
AU Optronics Corp.(a)
  10,822,000   3,690,515
Catcher Technology Co. Ltd.
  327,000   2,411,101
Cathay Financial Holding Co. Ltd.
  2,249,440   3,040,770
Chailease Holding Co. Ltd.
  314,418   1,314,793
China Development Financial Holding Corp.
  3,182,000   938,486
China Steel Corp.
  1,410,360   953,255
Chunghwa Telecom Co. Ltd.
  1,292,000   4,829,371
Compal Electronics, Inc.
  1,558,000   991,882
CTBC Financial Holding Co. Ltd.
  3,946,838   2,613,755
Delta Electronics, Inc.
  701,506   4,789,336
E.Sun Financial Holding Co. Ltd.
  2,261,318   2,091,919
Far Eastern New Century Corp.
  997,000   871,262
Far EasTone Telecommunications Co. Ltd.
  457,000   984,372
First Financial Holding Co. Ltd.
  1,733,614   1,396,620
Formosa Chemicals & Fibre Corp.
  622,920   1,433,198
Formosa Petrochemical Corp.
  462,000   1,285,327
Formosa Plastics Corp.
  721,280   1,932,802
Foxconn Technology Co. Ltd.
  442,000   817,778
Fubon Financial Holding Co. Ltd.
  1,754,928   2,501,092
Hon Hai Precision Industry Co. Ltd.
  5,383,064   14,406,534
Hotai Motor Co. Ltd.
  51,000   1,166,431
Innolux Corp.
  14,033,490   3,976,104
Largan Precision Co. Ltd.
  13,000   1,697,418
Lite-On Technology Corp.
  847,313   1,434,628
MediaTek, Inc.
  406,091   9,717,517
Mega Financial Holding Co. Ltd.
  2,308,080   2,548,819
Micro-Star International Co. Ltd.
  293,000   1,305,245
Nan Ya Plastics Corp.
  640,940   1,336,819
Novatek Microelectronics Corp.
  161,000   1,593,815
Pegatron Corp.
  961,106   2,024,279
Powertech Technology, Inc.
  279,200   935,924
President Chain Store Corp.
  120,000   1,146,973
Quanta Computer, Inc.
  1,231,000   3,437,362
Shanghai Commercial & Savings Bank Ltd. (The)
  615,000   889,083
Shin Kong Financial Holding Co. Ltd.(a)
  5,932,998   1,723,525
SinoPac Financial Holdings Co. Ltd.
  2,424,000   881,244
Taishin Financial Holding Co. Ltd.
  1,869,169   851,812
Taiwan Cement Corp.
  1,846,324   2,836,184
Taiwan Mobile Co. Ltd.
  446,400   1,600,028
  Shares   Value
Taiwan-(continued)
Taiwan Semiconductor Manufacturing Co. Ltd.
  3,887,000   $56,458,328
Uni-President Enterprises Corp.
  1,187,941   2,899,445
United Microelectronics Corp.
  6,647,000   5,071,274
Wistron Corp.
  1,871,875   2,204,499
Yageo Corp.
  88,000   1,168,547
Yuanta Financial Holding Co. Ltd.
  2,018,671   1,240,372
Zhen Ding Technology Holding Ltd.
  224,000   1,032,276
        170,637,310
Tanzania-0.24%
AngloGold Ashanti Ltd.
  79,166   2,578,918
Thailand-3.62%
Advanced Info Service PCL, NVDR
  320,906   1,903,876
Bangkok Bank PCL, Foreign Shares
  302,339   964,731
Banpu PCL, NVDR
  4,590,409   817,021
Charoen Pokphand Foods PCL, NVDR
  1,865,988   2,019,629
CP ALL PCL, NVDR(a)
  1,005,544   2,200,862
Indorama Ventures PCL, NVDR
  994,397   797,240
IRPC PCL, NVDR
  12,847,507   1,046,506
Kasikornbank PCL, Foreign Shares
  330,019   857,261
Kasikornbank PCL, NVDR
  168,464   437,604
Krung Thai Bank PCL, NVDR
  4,344,435   1,372,330
PTT Exploration & Production PCL, NVDR
  559,729   1,633,459
PTT Global Chemical PCL, NVDR
  1,762,421   2,656,419
PTT PCL, NVDR
  8,564,200   10,711,258
Siam Cement PCL (The), NVDR
  448,325   5,492,188
Siam Commercial Bank PCL (The), NVDR
  1,549,145   3,328,557
Thai Oil PCL, NVDR
  1,024,263   1,379,589
Thanachart Capital PCL, NVDR
  540,445   602,276
        38,220,806
Turkey-1.62%
Akbank T.A.S.(a)
  2,078,259   1,560,295
BIM Birlesik Magazalar A.S.
  136,948   1,401,954
Eregli Demir ve Celik Fabrikalari TAS
  1,260,756   1,380,067
Haci Omer Sabanci Holding A.S.
  1,217,884   1,462,263
KOC Holding A.S.
  579,266   1,342,035
Tupras-Turkiye Petrol Rafinerileri A.S.(a)
  131,820   1,559,100
Turk Hava Yollari AO(a)
  824,037   1,262,118
Turkcell Iletisim Hizmetleri A.S.
  1,010,798   2,152,082
Turkiye Garanti Bankasi A.S.(a)
  1,538,537   1,547,465
Turkiye Halk Bankasi A.S.(a)
  1,608,342   1,272,018
Turkiye Is Bankasi A.S., Class C(a)
  1,842,706   1,267,281
Turkiye Vakiflar Bankasi T.A.O., Class D(a)
  1,394,922   899,369
        17,106,047
United States-0.24%
JBS S.A.
  623,682   2,580,604
Total Common Stocks & Other Equity Interests

(Cost $1,063,326,846)
  1,020,029,339
Exchange-Traded Funds-2.27%
United States-1.56%
iShares MSCI Saudi Arabia ETF(b)
  615,800   16,534,230
Ireland-0.71%
Invesco MSCI Saudi Arabia UCITS ETF(a)(h)
  204,916   3,697,300
iShares MSCI Saudi Arabia Capped UCITS ETF(a)
  980,100   3,767,014
        7,464,314
Total Exchange-Traded Funds

(Cost $20,420,003)
  23,998,544
 
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Emerging Markets ETF (PXH)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Money Market Funds-0.01%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(h)(i)

(Cost $99,977)
  99,977   $99,977
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-98.93%

(Cost $1,083,846,826)
  1,044,127,860
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.63%
Invesco Private Government Fund, 0.06%(h)(i)(j)
  12,897,833   12,897,833
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 0.15%(h)(i)(j)
  4,315,831   $4,316,694
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $17,214,527)
  17,214,527
TOTAL INVESTMENTS IN SECURITIES-100.56%

(Cost $1,101,061,353)
  1,061,342,387
OTHER ASSETS LESS LIABILITIES-(0.56)%
  (5,940,501)
NET ASSETS-100.00%
  $1,055,401,886
 
Investment Abbreviations:
ADR-American Depositary Receipt
CPO-Certificates of Ordinary Participation
ETF-Exchange-Traded Fund
GDR-Global Depositary Receipt
NVDR-Non-Voting Depositary Receipt
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 2020.
(c) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $9,098,816, which represented less than 1% of the Fund’s Net Assets.
(d) Security valued using significant unobservable inputs (Level 3). See Note 1.
(e) Each CPO for Cemex S.A.B. de C.V. represents two Series A shares and one Series B share.
(f) Each CPO for Fomento Economico Mexicano, S.A.B. de C.V. represents one Series B share and four Series D shares.
(g) Each CPO for Grupo Televisa S.A.B. represents twenty-five Series A shares, twenty-two Series B shares, thirty-five Series D shares and thirty-five Series L shares.
(h) 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Invesco MSCI Saudi Arabia UCITS ETF $-   $3,582,435   $(492,588)   $542,695   $64,758   $3,697,300   $-
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class 2,265,414   58,107,114   (60,272,551)   -   -   99,977   15,229
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 1,898,097   5,400,868   (7,298,965)   -   -   -   13,237
Invesco Liquid Assets Portfolio, Institutional Class 632,699   1,480,882   (2,113,643)   (35)   97   -   5,035
Invesco Private Government Fund -   54,734,503   (41,836,670)   -   -   12,897,833   984
Invesco Private Prime Fund -   12,935,516   (8,619,050)   -   228   4,316,694   531
Total $4,796,210   $136,241,318   $(120,633,467)   $542,660   $65,083   $21,011,804   $35,016
    
See accompanying notes which are an integral part of this schedule.
Invesco FTSE RAFI Emerging Markets ETF (PXH)—(continued)
July 31, 2020
(Unaudited)
(i) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(j) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco Global Clean Energy ETF (PBD)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.91%
Austria-1.17%
Verbund AG
  17,409   $916,907
Canada-7.81%
Ballard Power Systems, Inc.(a)
  54,545   774,910
Boralex, Inc., Class A
  36,308   947,071
Canadian Solar, Inc.(a)
  42,281   936,101
Innergex Renewable Energy, Inc.(b)
  51,636   886,235
Northland Power, Inc.
  31,335   858,525
TransAlta Renewables, Inc.(b)
  70,974   826,573
Xebec Adsorption, Inc.(a)(b)
  274,165   904,673
        6,134,088
Chile-1.16%
Sociedad Quimica y Minera de Chile S.A., ADR
  29,753   908,954
China-9.46%
BYD Co. Ltd., H Shares(b)
  109,660   1,047,757
Daqo New Energy Corp., ADR(a)
  13,272   1,471,997
JinkoSolar Holding Co. Ltd., ADR(a)(b)
  46,364   887,871
NIO, Inc., ADR(a)(b)
  110,391   1,318,069
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares
  741,793   746,559
Xinyi Energy Holdings Ltd.
  2,658,629   957,082
Xinyi Solar Holdings Ltd.
  911,994   997,872
        7,427,207
Denmark-3.44%
Novozymes A/S, Class B
  13,263   794,687
Orsted A/S(c)
  6,637   949,400
Vestas Wind Systems A/S
  7,447   959,805
        2,703,892
Finland-1.14%
Caverion OYJ(a)
  119,633   891,236
France-2.28%
Albioma S.A.
  20,159   904,653
Neoen S.A.(a)(b)(c)
  19,405   883,437
        1,788,090
Germany-5.31%
CropEnergies AG
  81,126   875,855
Encavis AG(b)
  56,833   897,859
Nordex SE(a)(b)
  72,469   751,970
SMA Solar Technology AG(a)
  24,976   732,446
VERBIO Vereinigte BioEnergie AG
  72,681   907,582
        4,165,712
Guernsey-1.07%
Renewables Infrastructure Group Ltd. (The)
  482,135   841,627
Hong Kong-1.02%
Canvest Environmental Protection Group Co. Ltd.(c)
  1,764,798   799,262
Ireland-1.18%
Kingspan Group PLC
  12,860   923,822
Italy-2.06%
Falck Renewables S.p.A.
  124,670   813,771
Terna Rete Elettrica Nazionale S.p.A.
  107,929   804,810
        1,618,581
Japan-5.36%
eRex Co. Ltd.
  60,292   798,343
GS Yuasa Corp.
  46,783   721,236
Meidensha Corp.
  49,141   726,448
  Shares   Value
Japan-(continued)
RENOVA, Inc.(a)
  90,610   $911,842
West Holdings Corp.
  45,405   1,052,565
        4,210,434
Netherlands-1.27%
Signify N.V.(a)
  33,139   993,387
New Zealand-3.74%
Contact Energy Ltd.
  187,167   728,139
Mercury NZ Ltd.
  242,927   755,727
Meridian Energy Ltd.
  242,927   786,473
Tilt Renewables Ltd.
  273,560   665,147
        2,935,486
Norway-1.99%
NEL ASA(a)
  378,737   778,636
Scatec Solar ASA(c)
  45,542   786,552
        1,565,188
South Korea-4.58%
CS Wind Corp.
  26,210   1,748,947
Ecopro Co. Ltd.
  31,818   969,442
Samsung SDI Co. Ltd.
  2,621   874,473
        3,592,862
Spain-6.90%
Acciona S.A.
  7,335   813,587
Atlantica Sustainable Infrastructure PLC
  28,004   839,280
Audax Renovables S.A.(a)(b)
  368,154   668,685
EDP Renovaveis S.A.
  58,307   956,999
Siemens Gamesa Renewable Energy S.A.
  44,691   1,050,336
Solaria Energia y Medio Ambiente S.A.(a)
  71,469   1,084,290
        5,413,177
Sweden-3.11%
Eolus Vind AB, Class B(b)
  58,847   889,709
Nibe Industrier AB, Class B(a)
  36,234   870,218
PowerCell Sweden AB(a)
  23,490   685,039
        2,444,966
Switzerland-3.10%
Credit Suisse Real Estate Fund Green Property
  4,842   831,395
Gurit Holding AG, BR
  508   901,299
Landis+Gyr Group AG(a)
  11,328   697,338
        2,430,032
Taiwan-4.65%
Epistar Corp.(a)
  601,131   931,620
Everlight Electronics Co. Ltd.
  714,000   884,746
Lextar Electronics Corp.(a)
  1,228,000   1,010,251
Sino-American Silicon Products, Inc.
  247,000   826,299
        3,652,916
United Kingdom-2.79%
GCP Infrastructure Investments Ltd.
  533,793   809,897
Greencoat UK Wind PLC
  410,610   788,987
Ricardo PLC
  132,854   594,605
        2,193,489
United States-25.32%
Ameresco, Inc., Class A(a)
  35,514   983,028
Arcosa, Inc.
  18,283   771,908
Bloom Energy Corp., Class A(a)(b)
  83,357   1,013,621
Cree, Inc.(a)
  12,375   852,885
Enphase Energy, Inc.(a)
  14,963   903,167
First Solar, Inc.(a)
  15,062   896,942
See accompanying notes which are an integral part of this schedule.
Invesco Global Clean Energy ETF (PBD)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
United States-(continued)
Hannon Armstrong Sustainable Infrastructure Capital, Inc.
  25,502   $893,335
Itron, Inc.(a)
  11,106   772,533
Ormat Technologies, Inc.
  10,867   646,587
Plug Power, Inc.(a)(b)
  144,771   1,116,184
Renewable Energy Group, Inc.(a)(b)
  26,918   742,399
SolarEdge Technologies, Inc.(a)
  5,094   891,959
Sunnova Energy International, Inc.(a)
  41,554   1,039,266
SunPower Corp.(a)(b)
  102,506   956,381
Sunrun, Inc.(a)
  39,727   1,457,584
Tesla, Inc.(a)
  761   1,088,808
TPI Composites, Inc.(a)
  34,549   883,763
Universal Display Corp.
  4,893   853,584
Veeco Instruments, Inc.(a)
  58,971   797,288
Vivint Solar, Inc.(a)
  76,963   1,565,427
Willdan Group, Inc.(a)
  30,590   754,349
        19,880,998
Total Common Stocks & Other Equity Interests

(Cost $49,998,047)
  78,432,313
Money Market Funds-0.04%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $37,015)
  37,015   37,015
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.95%

(Cost $50,035,062)
  78,469,328
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-12.72%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  7,488,468   $7,488,468
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  2,495,657   2,496,156
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $9,984,624)
  9,984,624
TOTAL INVESTMENTS IN SECURITIES-112.67%

(Cost $60,019,686)
  88,453,952
OTHER ASSETS LESS LIABILITIES-(12.67)%
  (9,949,986)
NET ASSETS-100.00%
  $78,503,966
 
Investment Abbreviations:
ADR-American Depositary Receipt
BR-Bearer Shares
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 2020.
(c) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $3,418,651, which represented 4.35% of the Fund’s Net Assets.
(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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $2,822,538   $(2,785,523)   $-   $-   $37,015   $311
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 6,892,188   28,159,631   (35,051,819)   -   -   -   41,314
Invesco Liquid Assets Portfolio, Institutional Class 2,297,396   7,221,660   (9,518,549)   (200)   (307)   -   15,859
See accompanying notes which are an integral part of this schedule.
Invesco Global Clean Energy ETF (PBD)—(continued)
July 31, 2020
(Unaudited)
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Invesco Private Government Fund $-   $30,861,724   $(23,373,256)   $-   $-   $7,488,468   $817
Invesco Private Prime Fund -   5,781,430   (3,285,485)   -   211   2,496,156   470
Total $9,189,584   $74,846,983   $(74,014,632)   $(200)   $(96)   $10,021,639   $58,771
    
(e) The rate shown is the 7-day SEC standardized yield as of July 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.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco Global Water ETF (PIO)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.72%
Brazil-3.64%
Cia de Saneamento Basico do Estado de Sao Paulo
  634,841   $7,420,584
Canada-1.01%
Stantec, Inc.
  64,264   2,068,250
Cayman Islands-0.08%
Consolidated Water Co. Ltd.
  13,012   159,657
China-2.00%
Beijing Enterprises Water Group Ltd.(a)
  3,143,101   1,334,263
CT Environmental Group Ltd.(a)(b)
  2,561,890   28,097
Guangdong Investment Ltd.
  1,684,872   2,721,813
        4,084,173
France-7.17%
Suez S.A.
  353,917   4,680,999
Veolia Environnement S.A.
  436,063   9,957,095
        14,638,094
Hong Kong-0.17%
China Water Affairs Group Ltd.
  400,598   345,798
Italy-1.65%
ACEA S.p.A.
  27,050   556,247
Hera S.p.A.
  723,489   2,800,991
        3,357,238
Japan-5.40%
Kurita Water Industries Ltd.
  94,843   2,537,698
METAWATER Co. Ltd.
  9,742   422,924
Miura Co. Ltd.
  82,801   3,105,136
Organo Corp.
  10,223   512,455
TOTO Ltd.
  119,081   4,448,784
        11,026,997
Netherlands-2.12%
Aalberts N.V.
  95,600   3,412,889
Arcadis N.V.(a)
  44,274   908,342
        4,321,231
South Korea-1.61%
Coway Co. Ltd.
  50,951   3,280,126
Spain-1.39%
Acciona S.A.
  25,655   2,845,614
  Shares   Value
Switzerland-9.36%
Belimo Holding AG
  219   $1,733,319
Geberit AG
  31,410   17,374,422
        19,107,741
Thailand-0.18%
TTW PCL
  841,052   361,424
United Kingdom-14.41%
Halma PLC
  205,287   5,868,384
HomeServe PLC
  121,222   2,112,899
Pennon Group PLC
  280,585   3,923,892
Polypipe Group PLC
  110,851   589,242
Severn Trent PLC
  180,131   5,792,336
Spirax-Sarco Engineering PLC
  34,833   4,713,557
United Utilities Group PLC
  541,224   6,393,206
        29,393,516
United States-49.53%
A.O. Smith Corp.
  114,303   5,502,546
American Water Works Co., Inc.
  60,142   8,857,112
Danaher Corp.
  91,702   18,688,868
Ecolab, Inc.
  71,867   13,444,878
Essential Utilities, Inc.
  79,074   3,586,006
Ferguson PLC
  112,987   10,072,223
IDEX Corp.
  38,380   6,325,792
Pentair PLC
  195,158   8,362,520
Reliance Worldwide Corp. Ltd.
  694,931   1,335,631
Roper Technologies, Inc.
  19,399   8,389,098
Toro Co. (The)
  36,760   2,622,826
Waters Corp.(a)
  33,732   7,189,976
Xylem, Inc.
  91,645   6,688,252
        101,065,728
Total Common Stocks & Other Equity Interests

(Cost $152,164,656)
  203,476,171
TOTAL INVESTMENTS IN SECURITIES-99.72%

(Cost $152,164,656)
  203,476,171
OTHER ASSETS LESS LIABILITIES-0.28%
  573,413
NET ASSETS-100.00%
  $204,049,584
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) Security valued using significant unobservable inputs (Level 3). See Note 1.
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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $7,798,711   $(7,798,711)   $-   $-   $-   $276
See accompanying notes which are an integral part of this schedule.
Invesco Global Water ETF (PIO)—(continued)
July 31, 2020
(Unaudited)
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class $2,256,993   $22,521,053   $(24,778,046)   $-   $-   $-   $10,713
Invesco Liquid Assets Portfolio, Institutional Class 752,331   7,214,024   (7,966,733)   (74)   452   -   4,210
Invesco Private Government Fund -   32,449,316   (32,449,316)   -   -   -   267
Invesco Private Prime Fund -   2,416,773   (2,416,785)   -   12   -   53
Total $3,009,324   $72,399,877   $(75,409,591)   $(74)   $464   $-   $15,519
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco International BuyBack AchieversTM ETF (IPKW)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Australia-6.15%
Ansell Ltd.
  55,522   $1,530,987
BlueScope Steel Ltd.
  195,418   1,568,212
Genworth Mortgage Insurance Australia Ltd.
  85,536   103,975
Qantas Airways Ltd.
  753,051   1,744,364
        4,947,538
Austria-0.89%
IMMOFINANZ AG(a)
  43,142   715,746
Brazil-0.47%
Camil Alimentos S.A.
  159,800   377,874
Canada-20.51%
Artis REIT
  51,000   299,641
BRP, Inc.
  17,887   801,209
Celestica, Inc.(a)
  38,648   319,109
CI Financial Corp.
  93,823   1,289,497
ECN Capital Corp.
  100,545   354,291
Enerplus Corp.
  87,485   216,182
First Capital REIT
  79,200   802,938
Great-West Lifeco, Inc.
  112,155   1,982,703
Home Capital Group, Inc.(a)
  16,242   273,186
Knight Therapeutics, Inc.(a)
  46,945   242,523
Magna International, Inc.
  44,150   2,040,557
Nutrien Ltd.
  122,389   3,985,523
Power Corp. of Canada
  111,780   1,983,584
Seven Generations Energy Ltd., Class A(a)
  100,746   276,027
TFI International, Inc.
  37,644   1,633,348
        16,500,318
Colombia-0.92%
Parex Resources, Inc.(a)
  61,471   743,434
Denmark-3.88%
Jyske Bank A/S(a)
  25,797   826,500
Pandora A/S
  36,096   2,292,874
        3,119,374
France-5.03%
Vivendi S.A.
  152,797   4,047,287
Germany-3.23%
Rocket Internet SE(a)(b)
  28,462   613,218
United Internet AG
  43,579   1,982,442
        2,595,660
India-6.36%
Wipro Ltd., ADR
  1,184,191   5,115,705
Ireland-0.30%
Greencore Group PLC
  144,551   242,656
Japan-28.78%
Bridgestone Corp.
  44,400   1,299,287
Dai Nippon Printing Co. Ltd.
  22,700   492,517
Daicel Corp.
  20,800   138,103
Daito Trust Construction Co. Ltd.
  4,800   375,538
DeNA Co. Ltd.
  6,200   69,840
Duskin Co. Ltd.
  3,600   89,276
Hokuetsu Corp.
  13,200   43,946
Japan Post Insurance Co. Ltd.
  14,200   187,489
K’s Holdings Corp.
  16,500   212,239
Maxell Holdings Ltd.
  3,500   29,892
Medipal Holdings Corp.
  17,100   314,408
METAWATER Co. Ltd.
  1,100   47,754
Mitsubishi Corp.
  186,300   3,734,634
Nikon Corp.
  23,600   163,836
  Shares   Value
Japan-(continued)
Nippon Telegraph & Telephone Corp.
  168,100   $3,884,918
Nomura Holdings, Inc.
  232,200   1,075,459
Nomura Research Institute Ltd.
  30,000   787,667
Olympus Corp.
  203,700   3,628,761
Sankyo Co. Ltd.
  4,300   107,246
Shimachu Co. Ltd.
  2,800   76,217
Shinsei Bank Ltd.
  12,100   135,958
Toa Corp.
  1,600   23,259
Tokyo Electron Ltd.
  16,000   4,358,271
Tokyo Steel Manufacturing Co. Ltd.
  8,700   48,795
Toshiba Corp.
  27,056   818,871
Unipres Corp.
  2,600   19,279
Z Holdings Corp.
  188,878   995,035
        23,158,495
Netherlands-5.43%
Akzo Nobel N.V.
  43,766   4,126,808
AMG Advanced Metallurgical Group N.V.
  13,550   241,144
        4,367,952
Norway-0.22%
DNO ASA
  280,916   176,987
South Korea-2.07%
Daishin Securities Co. Ltd.
  18,863   163,868
SK Holdings Co. Ltd.
  8,101   1,506,103
        1,669,971
Spain-0.36%
Prosegur Cia de Seguridad S.A., Prosegur Cia de Seguridad S.A.
  108,621   286,431
Sweden-2.34%
Lundin Energy AB
  81,296   1,880,864
Switzerland-2.81%
Intershop Holding AG
  534   328,137
Swiss Life Holding AG(a)
  5,291   1,936,214
        2,264,351
Taiwan-0.47%
Capital Securities Corp.
  938,000   381,034
United Kingdom-9.66%
Daily Mail and General Trust PLC, Class A
  77,278   640,007
Dialog Semiconductor PLC(a)
  31,231   1,432,909
Great Portland Estates PLC
  73,477   568,602
Micro Focus International PLC
  137,339   499,493
Sole Realisation Co. PLC(a)(c)
  90,508   0
Standard Life Aberdeen PLC
  592,729   1,948,003
Subsea 7 S.A.(a)
  85,533   642,898
Whitbread PLC(a)
  71,384   2,042,474
        7,774,386
Total Common Stocks & Other Equity Interests

(Cost $81,112,120)
  80,366,063
Money Market Funds-0.19%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $154,488)
  154,488   154,488
TOTAL INVESTMENTS IN SECURITIES-100.07%

(Cost $81,266,608)
  80,520,551
OTHER ASSETS LESS LIABILITIES-(0.07)%
  (57,601)
NET ASSETS-100.00%
  $80,462,950
See accompanying notes which are an integral part of this schedule.
Invesco International BuyBack AchieversTM ETF (IPKW)—(continued)
July 31, 2020
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
REIT-Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at July 31, 2020 represented less than 1% of the Fund’s Net Assets.
(c) Security valued using significant unobservable inputs (Level 3). See Note 1.
(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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $3,662,082   $(3,507,594)   $-   $-   $154,488   $343
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 7,837,029   33,281,797   (41,118,826)   -   -   -   31,652
Invesco Liquid Assets Portfolio, Institutional Class 2,612,343   7,870,351   (10,480,991)   (53)   (1,650)   -   12,162
Invesco Private Government Fund -   34,764,528   (34,764,528)   -   -   -   190
Invesco Private Prime Fund -   1,985,752   (1,985,786)   -   34   -   51
Total $10,449,372   $81,564,510   $(91,857,725)   $(53)   $(1,616)   $154,488   $44,398
    
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco MSCI Global Timber ETF (CUT)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.95%
Australia-0.85%
Orora Ltd.
  388,073   $640,105
Brazil-4.31%
Duratex S.A.
  124,042   383,625
Klabin S.A.
  278,134   1,103,817
Suzano S.A.(a)
  217,853   1,757,621
        3,245,063
Canada-4.59%
Canfor Corp.(a)
  24,944   297,577
Canfor Pulp Products, Inc.(a)
  11,695   48,194
Cascades, Inc.
  31,917   363,847
Interfor Corp.(a)
  26,798   311,093
Norbord, Inc.
  19,523   634,880
Stella-Jones, Inc.
  24,398   740,956
West Fraser Timber Co. Ltd.
  21,328   1,055,971
        3,452,518
Chile-1.33%
Empresas CMPC S.A.
  451,602   1,000,590
China-0.88%
Lee & Man Paper Manufacturing Ltd.
  521,855   321,185
Shandong Sun Paper Industry JSC Ltd., A Shares
  61,900   112,457
Youyuan International Holdings Ltd.(a)(b)
  337,463   11,321
Yunnan Energy New Material Co. Ltd.
  19,200   219,688
        664,651
Finland-11.23%
Huhtamaki OYJ(a)
  38,808   1,734,659
Metsa Board OYJ
  70,654   552,673
Stora Enso OYJ, Class R
  233,179   2,939,326
UPM-Kymmene OYJ
  120,536   3,225,540
        8,452,198
Germany-0.17%
Mercer International, Inc.
  16,995   126,613
Hong Kong-0.92%
Nine Dragons Paper Holdings Ltd.
  659,739   690,367
Indonesia-1.04%
PT Indah Kiat Pulp & Paper Corp. Tbk(a)
  1,089,887   582,269
PT Pabrik Kertas Tjiwi Kimia Tbk(a)
  434,096   200,695
        782,964
Ireland-4.05%
Smurfit Kappa Group PLC
  90,584   3,048,509
Japan-4.40%
Daiken Corp.
  4,343   69,337
Daio Paper Corp.
  27,516   372,675
Hokuetsu Corp.
  45,876   152,732
Nippon Paper Industries Co. Ltd.
  39,742   498,420
Oji Holdings Corp.
  344,995   1,435,712
Pack Corp. (The)(c)
  4,797   119,505
Rengo Co. Ltd.
  70,188   527,754
Tokushu Tokai Paper Co. Ltd.
  3,407   139,367
        3,315,502
Pakistan-0.04%
Packages Ltd.
  12,450   29,832
Portugal-0.59%
Altri SGPS S.A.
  28,605   141,864
  Shares   Value
Portugal-(continued)
Navigator Co. S.A. (The)
  85,760   $214,383
Semapa-Sociedade de Investimento e Gestao
  9,714   87,874
        444,121
South Africa-0.42%
Sappi Ltd.(a)
  218,355   314,157
South Korea-0.31%
Hansol Paper Co. Ltd.
  6,637   76,598
Kuk-il Paper Manufacturing Co. Ltd.(a)
  34,346   157,402
        234,000
Spain-0.37%
Ence Energia y Celulosa S.A.
  58,872   177,869
Miquel y Costas & Miquel S.A.
  7,410   103,396
        281,265
Sweden-7.23%
BillerudKorsnas AB
  71,036   1,137,769
Holmen AB, Class B(a)
  39,883   1,367,451
Svenska Cellulosa AB S.C.A., Class B(a)
  242,829   2,938,181
        5,443,401
Switzerland-2.38%
SIG Combibloc Group AG(a)
  102,463   1,792,004
Taiwan-0.82%
Cheng Loong Corp.
  287,000   227,292
Chung Hwa Pulp Corp.(a)
  154,000   43,685
Longchen Paper & Packaging Co. Ltd.
  265,000   132,525
YFY, Inc.
  463,000   215,738
        619,240
Thailand-0.11%
Polyplex Thailand PCL, NVDR
  107,541   80,701
United Kingdom-7.12%
DS Smith PLC
  548,881   1,881,701
Mondi PLC
  194,588   3,481,056
        5,362,757
United States-46.79%
Amcor PLC
  357,910   3,686,473
Avery Dennison Corp.
  32,728   3,709,391
Boise Cascade Co.
  15,678   730,438
CatchMark Timber Trust, Inc., Class A
  19,525   190,564
Clearwater Paper Corp.(a)
  6,579   242,897
Domtar Corp.
  22,420   470,596
Graphic Packaging Holding Co.
  116,166   1,619,354
International Paper Co.
  105,106   3,656,638
Louisiana-Pacific Corp.
  44,949   1,423,535
Neenah, Inc.
  6,713   299,467
Packaging Corp. of America
  37,009   3,557,305
PH Glatfelter Co.
  17,653   281,212
PotlatchDeltic Corp.
  27,039   1,157,539
Ranpak Holdings Corp.(a)
  11,527   94,176
Rayonier, Inc.
  51,888   1,441,449
Schweitzer-Mauduit International, Inc., Class A
  12,310   400,444
Sealed Air Corp.
  61,803   2,205,131
Sonoco Products Co.
  40,127   2,076,171
Verso Corp., Class A
  11,752   143,492
Westrock Co.
  103,595   2,782,562
Weyerhaeuser Co.
  181,647   5,051,603
        35,220,437
Total Common Stocks & Other Equity Interests

(Cost $73,546,779)
  75,240,995
See accompanying notes which are an integral part of this schedule.
Invesco MSCI Global Timber ETF (CUT)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Exchange-Traded Funds-0.06%
India-0.06%
Invesco India ETF(c)(d)

(Cost $51,976)
  2,432   $45,284
Money Market Funds-0.27%
Invesco Premier U.S. Government Money Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $204,619)
  204,619   204,619
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.28%

(Cost $73,803,374)
  75,490,898
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.08%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  42,370   42,370
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  14,787   $14,790
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $57,160)
  57,160
TOTAL INVESTMENTS IN SECURITIES-100.36%

(Cost $73,860,534)
  75,548,058
OTHER ASSETS LESS LIABILITIES-(0.36)%
  (270,475)
NET ASSETS-100.00%
  $75,277,583
 
Investment Abbreviations:
NVDR-Non-Voting Depositary Receipt
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) Security valued using significant unobservable inputs (Level 3). See Note 1.
(c) All or a portion of this security was out on loan at July 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Invesco India ETF $73,870   $170,768   $(177,570)   $(5,251)   $(16,533)   $45,284   $1,346
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class 208,217   5,803,906   (5,807,504)   -   -   204,619   2,119
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 1,898,798   25,025,621   (26,924,419)   -   -   -   15,173
Invesco Liquid Assets Portfolio, Institutional Class 632,933   7,568,210   (8,200,374)   (41)   (728)   -   6,372
Invesco Private Government Fund -   7,458,096   (7,415,726)   -   -   42,370   70
Invesco Private Prime Fund -   1,397,239   (1,382,458)   -   9   14,790   24
Total $2,813,818   $47,423,840   $(49,908,051)   $(5,292)   $(17,252)   $307,063   $25,104
    
(e) The rate shown is the 7-day SEC standardized yield as of July 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.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco S&P Global Water Index ETF (CGW)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Austria-1.14%
ANDRITZ AG
  229,644   $7,733,858
Brazil-1.71%
Cia de Saneamento Basico do Estado de Sao Paulo, ADR
  1,007,255   11,643,868
Canada-3.15%
Algonquin Power & Utilities Corp.
  1,552,451   21,417,913
China-3.13%
Beijing Enterprises Water Group Ltd.(a)
  17,722,191   7,523,162
Guangdong Investment Ltd.
  8,521,231   13,765,556
        21,288,718
France-7.31%
Suez S.A.
  1,255,362   16,603,747
Veolia Environnement S.A.
  1,452,995   33,177,795
        49,781,542
Hong Kong-0.32%
China Water Affairs Group Ltd.
  2,504,943   2,162,276
Italy-1.72%
ACEA S.p.A.
  131,811   2,710,518
Hera S.p.A.
  2,326,759   9,008,059
        11,718,577
Japan-1.71%
Kurita Water Industries Ltd.
  342,091   9,153,272
METAWATER Co. Ltd.
  34,908   1,515,442
Organo Corp.
  19,814   993,230
        11,661,944
Netherlands-1.62%
Aalberts N.V.
  307,871   10,990,894
Singapore-0.50%
Sembcorp Industries Ltd.
  2,682,310   3,383,940
South Korea-1.54%
Coway Co. Ltd.
  162,959   10,490,982
Spain-0.19%
Fomento de Construcciones y Contratas S.A.
  150,296   1,299,170
Sweden-3.35%
Alfa Laval AB(a)
  963,542   22,821,442
Switzerland-7.43%
Geberit AG
  69,473   38,428,947
Georg Fischer AG
  13,188   12,134,062
        50,563,009
United Kingdom-14.53%
Halma PLC
  1,215,061   34,734,027
Pennon Group PLC
  1,246,636   17,433,809
Severn Trent PLC
  711,373   22,875,081
United Utilities Group PLC
  2,019,532   23,855,714
        98,898,631
  Shares   Value
United States-50.53%
Advanced Drainage Systems, Inc.
  166,048   $8,136,352
Aegion Corp.(a)
  90,656   1,397,915
American States Water Co.
  108,576   8,347,323
American Water Works Co., Inc.
  470,134   69,236,634
Badger Meter, Inc.
  93,160   5,831,816
California Water Service Group
  141,898   6,650,759
Danaher Corp.
  203,009   41,373,234
Energy Recovery, Inc.(a)(b)
  105,829   803,242
Essential Utilities, Inc.
  639,222   28,988,718
Evoqua Water Technologies Corp.(a)
  230,642   4,435,246
Franklin Electric Co., Inc.
  123,144   6,655,933
Gorman-Rupp Co. (The)
  56,033   1,695,559
IDEX Corp.
  195,120   32,159,678
Lindsay Corp.
  34,604   3,355,550
Middlesex Water Co.
  51,375   3,291,082
Mueller Water Products, Inc., Class A
  504,409   5,104,619
Olin Corp.(b)
  510,973   5,743,336
Pentair PLC
  540,460   23,158,711
Reliance Worldwide Corp. Ltd.
  2,528,611   4,859,896
Rexnord Corp.
  390,214   11,304,500
Select Energy Services, Inc., Class A(a)
  184,832   820,654
SJW Group
  76,321   4,767,010
Tetra Tech, Inc.
  161,625   14,328,056
Watts Water Technologies, Inc., Class A
  88,331   7,410,088
Xylem, Inc.
  579,103   42,262,937
York Water Co. (The)
  38,283   1,772,886
        343,891,734
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $532,105,322)
  679,748,498
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.25%
Invesco Private Government Fund, 0.06%(c)(d)(e)
  1,299,196   1,299,196
Invesco Private Prime Fund, 0.15%(c)(d)(e)
  432,979   433,065
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,732,261)
  1,732,261
TOTAL INVESTMENTS IN SECURITIES-100.13%

(Cost $533,837,583)
  681,480,759
OTHER ASSETS LESS LIABILITIES-(0.13)%
  (905,398)
NET ASSETS-100.00%
  $680,575,361
See accompanying notes which are an integral part of this schedule.
Invesco S&P Global Water Index ETF (CGW)—(continued)
July 31, 2020
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at July 31, 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $-   $16,146,345   $(16,146,345)   $-   $-   $-   $3,313
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 5,913,122   78,493,521   (84,406,643)   -   -   -   50,019
Invesco Liquid Assets Portfolio, Institutional Class 1,971,041   22,194,630   (24,165,629)   (139)   97   -   19,630
Invesco Private Government Fund -   124,693,913   (123,394,717)   -   -   1,299,196   1,438
Invesco Private Prime Fund -   12,487,908   (12,054,944)   -   101   433,065   561
Total $7,884,163   $254,016,317   $(260,168,278)   $(139)   $198   $1,732,261   $74,961
    
(d) The rate shown is the 7-day SEC standardized yield as of July 31, 2020.
(e) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments
Invesco S&P International Developed Quality ETF (IDHQ)
July 31, 2020
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.80%
Australia-11.18%
Alumina Ltd.
  47,184   $51,434
Aristocrat Leisure Ltd.
  14,604   274,190
ASX Ltd.
  4,954   293,636
Aurizon Holdings Ltd.
  35,866   114,460
BHP Group Ltd.
  71,173   1,875,784
BlueScope Steel Ltd.
  8,362   67,104
Brambles Ltd.
  54,811   423,737
Cochlear Ltd.
  1,629   222,222
CSL Ltd.
  9,766   1,891,696
Evolution Mining Ltd.
  38,880   164,508
Fortescue Metals Group Ltd.
  49,302   615,564
Insurance Australia Group Ltd.
  50,132   182,997
Magellan Financial Group Ltd.
  3,906   171,321
Medibank Pvt Ltd.
  71,049   143,687
Newcrest Mining Ltd.
  16,468   415,477
Qantas Airways Ltd.
  12,815   29,685
REA Group Ltd.
  1,336   103,936
Rio Tinto PLC
  22,174   1,343,120
Wesfarmers Ltd.
  27,803   928,157
Woolworths Group Ltd.
  25,505   707,493
        10,020,208
Austria-0.05%
ANDRITZ AG
  1,394   46,947
Belgium-0.13%
Colruyt S.A.
  1,063   62,297
Proximus SADP
  2,754   57,023
        119,320
Canada-4.75%
Alimentation Couche-Tard, Inc., Class B
  19,920   692,255
AltaGas Ltd.
  4,988   62,485
Cameco Corp.
  8,291   84,303
Canadian National Railway Co.
  15,083   1,473,281
Canadian Pacific Railway Ltd.
  3,400   935,019
Canadian Utilities Ltd., Class A
  2,393   61,384
CCL Industries, Inc., Class B
  2,846   94,675
CGI, Inc., Class A(a)
  4,476   319,686
CI Financial Corp.
  4,872   66,960
Genworth MI Canada, Inc.
  1,654   40,983
Great-West Lifeco, Inc.
  5,154   91,114
IGM Financial, Inc.
  1,723   42,358
Kirkland Lake Gold Ltd.
  5,365   292,982
        4,257,485
China-0.20%
ENN Energy Holdings Ltd.
  14,795   179,254
Denmark-5.25%
Carlsberg A/S, Class B
  2,128   313,525
Chr. Hansen Holding A/S
  2,465   280,601
Coloplast A/S, Class B
  3,771   644,201
GN Store Nord A/S
  2,648   162,067
Novo Nordisk A/S, Class B
  44,157   2,922,698
Novozymes A/S, Class B
  5,231   313,429
Tryg A/S
  2,325   68,694
        4,705,215
Finland-2.24%
Elisa OYJ
  3,536   210,989
Kone OYJ, Class B
  11,294   898,001
Neles OYJ
  3,041   44,015
Neste OYJ
  9,695   445,733
  Shares   Value
Finland-(continued)
Orion OYJ, Class B
  3,143   $137,589
UPM-Kymmene OYJ
  10,148   271,560
        2,007,887
France-3.43%
Dassault Aviation S.A.(a)
  60   50,020
Hermes International
  837   679,168
L’Oreal S.A.
  4,473   1,496,878
Safran S.A.(a)
  6,187   654,355
Sartorius Stedim Biotech
  629   196,361
        3,076,782
Germany-2.11%
BASF SE
  16,360   905,572
Evonik Industries AG
  3,138   84,863
Knorr-Bremse AG
  942   110,712
MTU Aero Engines AG(a)
  943   163,752
RWE AG
  12,122   458,410
Siemens Healthineers AG(b)
  3,239   168,353
        1,891,662
Hong Kong-1.22%
Hong Kong Exchanges & Clearing Ltd.
  22,920   1,094,808
Ireland-0.44%
AIB Group PLC(a)
  34,456   43,067
ICON PLC(a)
  1,142   211,795
Ryanair Holdings PLC, ADR(a)
  1,902   142,650
        397,512
Israel-0.51%
Check Point Software Technologies Ltd.(a)
  3,266   409,393
Strauss Group Ltd.
  1,568   44,479
        453,872
Italy-1.07%
DiaSorin S.p.A.
  375   73,611
Ferrari N.V.
  3,279   586,847
FinecoBank Banca Fineco S.p.A.(a)
  13,603   197,450
Recordati Industria Chimica e Farmaceutica S.p.A.
  1,971   105,441
        963,349
Japan-25.17%
ABC-Mart, Inc.
  717   37,840
Astellas Pharma, Inc.
  41,978   655,100
Azbil Corp.
  2,470   81,999
Bandai Namco Holdings, Inc.
  4,386   241,473
Brother Industries Ltd.
  5,549   85,757
Calbee, Inc.
  2,902   92,086
Capcom Co. Ltd.
  1,932   75,467
Casio Computer Co. Ltd.
  4,375   69,186
Chugai Pharmaceutical Co. Ltd.
  15,073   675,170
COMSYS Holdings Corp.
  2,614   76,642
Dai-ichi Life Holdings, Inc.
  22,330   259,774
Daiichi Sankyo Co. Ltd.
  16,238   1,421,842
Daikin Industries Ltd.
  5,763   1,005,650
Daito Trust Construction Co. Ltd.
  2,212   173,060
Disco Corp.
  576   137,122
Eisai Co. Ltd.
  6,335   508,514
Fast Retailing Co. Ltd.
  1,323   701,354
GOLDWIN, Inc.
  928   55,032
GungHo Online Entertainment, Inc.
  2,477   45,192
Hoya Corp.
  9,366   923,047
Ito En Ltd.
  1,296   76,243
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Quality ETF (IDHQ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
Japan-(continued)
Itochu Techno-Solutions Corp.
  2,007   $81,149
Izumi Co. Ltd.
  1,440   55,227
Japan Exchange Group, Inc.
  11,347   268,301
Japan Tobacco, Inc.
  22,528   386,085
JGC Holdings Corp.
  5,228   52,611
Kakaku.com, Inc.
  3,615   86,947
Kaken Pharmaceutical Co. Ltd.
  772   34,865
Kobayashi Pharmaceutical Co. Ltd.
  1,152   101,984
Kobe Bussan Co. Ltd.
  1,139   70,130
K’s Holdings Corp.
  4,198   53,999
Kyowa Kirin Co. Ltd.
  5,372   132,103
Maruichi Steel Tube Ltd.
  1,584   37,349
McDonald’s Holdings Co. Japan Ltd.
  1,499   71,455
MonotaRO Co. Ltd.
  2,988   127,314
Morinaga & Co. Ltd.
  1,133   41,096
Nexon Co. Ltd.
  10,066   259,909
Nihon M&A Center, Inc.
  3,739   181,062
Nihon Unisys Ltd.
  1,852   55,965
Nintendo Co. Ltd.
  2,341   1,028,242
Nippon Shinyaku Co. Ltd.
  1,200   92,273
Nissan Chemical Corp.
  2,908   152,097
Nissin Foods Holdings Co. Ltd.
  1,750   156,909
Nitori Holdings Co. Ltd.
  1,844   404,100
Nitto Denko Corp.
  3,046   171,415
Nomura Research Institute Ltd.
  12,506   328,352
NS Solutions Corp.
  1,652   43,062
NTT DOCOMO, Inc.
  26,097   717,649
Obayashi Corp.
  16,960   150,463
OBIC Business Consultants Co. Ltd.
  720   42,153
Obic Co. Ltd.
  1,440   257,547
Olympus Corp.
  25,373   452,001
Omron Corp.
  4,630   329,745
Ono Pharmaceutical Co. Ltd.
  10,578   296,490
Otsuka Corp.
  2,350   121,356
Paltac Corp.
  1,008   54,533
Pigeon Corp.
  2,847   110,266
Recruit Holdings Co. Ltd.
  29,303   905,724
Ricoh Co. Ltd.
  14,202   90,668
Rinnai Corp.
  720   58,837
Rohm Co. Ltd.
  1,750   110,399
Rohto Pharmaceutical Co. Ltd.
  2,326   71,608
Sankyo Co. Ltd.
  1,584   39,506
Sankyu, Inc.
  1,049   36,164
Santen Pharmaceutical Co. Ltd.
  8,431   141,939
SCSK Corp.
  1,066   53,839
Secom Co. Ltd.
  4,304   369,664
Sega Sammy Holdings, Inc.
  3,478   39,112
Sekisui House Ltd.(c)
  14,202   257,632
Seven & i Holdings Co. Ltd.
  14,651   444,255
Shimano, Inc.
  1,750   380,687
Shionogi & Co. Ltd.
  6,813   403,316
SMC Corp.
  1,338   696,904
Sompo Holdings, Inc.
  8,427   275,374
Sugi Holdings Co. Ltd.
  720   52,163
Sumitomo Metal Mining Co. Ltd.
  4,940   146,429
Sundrug Co. Ltd.
  1,339   45,718
Suntory Beverage & Food Ltd.
  2,614   98,275
T&D Holdings, Inc.
  11,273   92,014
Taisei Corp.
  4,630   158,523
TDK Corp.
  2,470   272,861
TIS, Inc.
  4,817   103,511
Toho Co. Ltd.
  2,758   81,777
  Shares   Value
Japan-(continued)
Tokio Marine Holdings, Inc.
  14,053   $589,607
Tokyo Broadcasting System Holdings, Inc.
  2,614   39,360
Tokyo Electron Ltd.
  4,095   1,115,445
TOTO Ltd.
  3,046   113,796
Trend Micro, Inc.
  3,200   186,135
USS Co. Ltd.
  4,393   65,274
Welcia Holdings Co. Ltd.
  1,152   105,688
Yakult Honsha Co. Ltd.
  3,190   181,329
Yamaha Corp.
  3,111   142,706
Zenkoku Hosho Co. Ltd.
  1,433   49,605
ZOZO, Inc.
  5,185   140,254
        22,559,852
Luxembourg-0.04%
RTL Group S.A.(a)
  1,206   39,931
Macau-0.70%
Galaxy Entertainment Group Ltd.
  47,849   325,982
Sands China Ltd.
  59,999   232,248
Wynn Macau Ltd.
  38,279   67,073
        625,303
Netherlands-5.81%
Adyen N.V.(a)(b)
  492   824,396
Akzo Nobel N.V.
  4,539   427,994
ASML Holding N.V.
  9,321   3,303,318
Randstad N.V.
  2,392   115,009
Wolters Kluwer N.V.
  6,783   536,277
        5,206,994
New Zealand-0.88%
a2 Milk Co. Ltd.(a)
  14,665   203,588
Contact Energy Ltd.
  12,842   49,959
Fisher & Paykel Healthcare Corp. Ltd.
  13,422   321,878
Fletcher Building Ltd.
  16,865   37,973
Goodman Property Trust
  31,318   46,315
Spark New Zealand Ltd.
  38,912   127,792
        787,505
Norway-0.05%
Salmar ASA(a)
  903   42,928
Portugal-0.05%
Navigator Co. S.A. (The)
  17,205   43,009
Singapore-0.65%
Genting Singapore Ltd.
  117,164   62,799
SATS Ltd.
  18,239   36,443
Singapore Exchange Ltd.
  16,091   95,868
United Overseas Bank Ltd.
  22,762   321,852
Venture Corp. Ltd.
  4,979   64,992
        581,954
South Korea-1.36%
Celltrion, Inc.(a)
  1,636   407,146
CJ ENM Co. Ltd.
  433   41,832
Coway Co. Ltd.
  1,044   67,211
KEPCO Plant Service & Engineering Co. Ltd.
  1,644   40,638
KT&G Corp.
  2,401   163,036
Kumho Petrochemical Co. Ltd.
  693   49,209
LG Innotek Co. Ltd.
  331   44,730
NCSoft Corp.
  335   228,038
Orion Corp.
  435   48,926
S-1 Corp.
  583   44,285
 
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Quality ETF (IDHQ)—(continued)
July 31, 2020
(Unaudited)
  Shares   Value
South Korea-(continued)
Samsung Engineering Co. Ltd.(a)
  3,970   $39,653
Yuhan Corp.
  969   46,604
        1,221,308
Spain-0.71%
Aena SME S.A.(a)(b)
  1,482   193,297
Amadeus IT Group S.A.
  8,816   441,599
        634,896
Sweden-2.18%
Alfa Laval AB(a)
  5,235   123,991
Atlas Copco AB, Class A
  13,742   608,052
Epiroc AB, Class A
  12,895   180,360
Essity AB, Class B(a)
  12,666   417,905
Hennes & Mauritz AB, Class B
  16,830   261,479
Sandvik AB(a)
  19,235   357,688
        1,949,475
Switzerland-16.83%
Geberit AG
  1,091   603,486
Nestle S.A.
  40,022   4,755,830
Novartis AG
  50,327   4,175,199
Partners Group Holding AG
  488   472,711
Roche Holding AG
  12,688   4,408,790
Schindler Holding AG, PC
  925   234,377
SGS S.A.
  121   318,029
Swatch Group AG (The), BR
  545   114,428
        15,082,850
United Kingdom-12.10%
3i Group PLC
  17,576   205,217
Admiral Group PLC
  4,827   152,050
Aviva PLC
  85,373   295,481
BAE Systems PLC
  63,962   411,523
Barratt Developments PLC
  19,229   128,866
Berkeley Group Holdings PLC
  2,711   158,482
Coca-Cola European Partners PLC
  3,899   160,522
Compass Group PLC
  35,335   487,192
Croda International PLC
  3,318   249,534
Diageo PLC
  57,293   2,106,269
Experian PLC
  18,179   638,730
Halma PLC
  7,580   216,684
Hargreaves Lansdown PLC
  9,637   221,223
  Shares   Value
United Kingdom-(continued)
Intertek Group PLC
  3,884   $274,157
ITV PLC
  97,463   72,505
Legal & General Group PLC
  136,288   382,799
M&G PLC
  45,043   94,945
Micro Focus International PLC
  7,244   26,346
Mondi PLC
  10,092   180,540
Persimmon PLC(a)
  7,319   230,741
RELX PLC
  45,789   970,583
Rentokil Initial PLC
  42,346   296,904
Sage Group PLC (The)
  26,806   256,624
Spirax-Sarco Engineering PLC
  1,394   188,634
St James’s Place PLC
  10,297   127,337
Standard Life Aberdeen PLC
  49,863   163,875
Taylor Wimpey PLC
  69,355   107,732
Unilever N.V.
  34,520   2,044,260
        10,849,755
United States-0.69%
Ferguson PLC
  4,881   435,116
James Hardie Industries PLC, CDI
  8,651   179,732
        614,848
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $85,657,797)
  89,454,909
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.25%
Invesco Private Government Fund, 0.06%(d)(e)(f)
  171,079   171,079
Invesco Private Prime Fund, 0.15%(d)(e)(f)
  57,015   57,026
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $228,105)
  228,105
TOTAL INVESTMENTS IN SECURITIES-100.05%

(Cost $85,885,902)
  89,683,014
OTHER ASSETS LESS LIABILITIES-(0.05)%
  (48,929)
NET ASSETS-100.00%
  $89,634,085
 
See accompanying notes which are an integral part of this schedule.
Invesco S&P International Developed Quality ETF (IDHQ)—(continued)
July 31, 2020
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
BR-Bearer Shares
CDI-CREST Depository Interest
PC-Participation Certificate
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2020 was $1,186,046, which represented 1.32% of the Fund’s Net Assets.
(c) All or a portion of this security was out on loan at July 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 July 31, 2020.
    
  Value
October 31, 2019 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
July 31, 2020 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Premier U.S. Government Money Portfolio, Institutional Class $71,126   $1,798,169   $(1,869,295)   $-   $-   $-   $190
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Government & Agency Portfolio, Institutional Class 590,423   4,748,787   (5,339,210)   -   -   -   3,257
Invesco Liquid Assets Portfolio, Institutional Class 196,808   1,189,136   (1,385,853)   (4)   (87)   -   1,268
Invesco Private Government Fund -   4,496,324   (4,325,245)   -   -   171,079   40
Invesco Private Prime Fund -   374,169   (317,152)   -   9   57,026   12
Total $858,357   $12,606,585   $(13,236,755)   $(4)   $(78)   $228,105   $4,767
    
(e) The rate shown is the 7-day SEC standardized yield as of July 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.
See accompanying notes which are an integral part of this schedule.
Notes to Quarterly Schedules of Portfolio Holdings
July 31, 2020
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available 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.
The following is a summary of the tiered valuation input levels, as of July 31, 2020. 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 China Technology ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $893,535,905   $-   $0   $893,535,905
Money Market Funds -   37,193,762   -   37,193,762
Total Investments $893,535,905   $37,193,762   $0   $930,729,667
Invesco DWA Developed Markets Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $140,540,965   $-   $-   $140,540,965
Money Market Funds -   2,080,332   -   2,080,332
Total Investments $140,540,965   $2,080,332   $-   $142,621,297
Invesco DWA Emerging Markets Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $146,549,476   $-   $-   $146,549,476
Money Market Funds 199,897   1,294,035   -   1,493,932
Total Investments $146,749,373   $1,294,035   $-   $148,043,408
Invesco FTSE RAFI Developed Markets ex-U.S. ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $915,060,333   $-   $2,259   $915,062,592
Money Market Funds 2,086,293   27,326,716   -   29,413,009
Total Investments $917,146,626   $27,326,716   $2,259   $944,475,601
Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $316,236,334   $-   $1,465   $316,237,799
Money Market Funds 1,236,969   17,687,996   -   18,924,965
Total Investments $317,473,303   $17,687,996   $1,465   $335,162,764
  Level 1   Level 2   Level 3   Total
Invesco FTSE RAFI Emerging Markets ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,018,590,538   $-   $1,438,801   $1,020,029,339
Exchange-Traded Funds 23,998,544   -   -   23,998,544
Money Market Funds 99,977   17,214,527   -   17,314,504
Total Investments $1,042,689,059   $17,214,527   $1,438,801   $1,061,342,387
Invesco Global Clean Energy ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $78,432,313   $-   $-   $78,432,313
Money Market Funds 37,015   9,984,624   -   10,021,639
Total Investments $78,469,328   $9,984,624   $-   $88,453,952
Invesco Global Water ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $203,448,074   $-   $28,097   $203,476,171
Total Investments $203,448,074   $-   $28,097   $203,476,171
Invesco International BuyBack AchieversTM ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $80,366,063   $-   $0   $80,366,063
Money Market Funds 154,488   -   -   154,488
Total Investments $80,520,551   $-   $0   $80,520,551
Invesco MSCI Global Timber ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $75,229,674   $-   $11,321   $75,240,995
Exchange-Traded Funds 45,284   -   -   45,284
Money Market Funds 204,619   57,160   -   261,779
Total Investments $75,479,577   $57,160   $11,321   $75,548,058
Invesco S&P Global Water Index ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $679,748,498   $-   $-   $679,748,498
Money Market Funds -   1,732,261   -   1,732,261
Total Investments $679,748,498   $1,732,261   $-   $681,480,759
Invesco S&P International Developed Quality ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $89,454,909   $-   $-   $89,454,909
Money Market Funds -   228,105   -   228,105
Total Investments $89,454,909   $228,105   $-   $89,683,014
NOTE 2—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.