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        <name>Nordstrom, Inc.</name>
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        <name>AMC Networks Inc.</name>
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        <name>Delta Air Lines, Inc.</name>
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        <name>Vontier Corp.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Toll Brothers Finance Corp.</name>
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        <name>Fluor Corp.</name>
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        <name>EQM Midstream Partners, L.P.</name>
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        <name>Kennedy-Wilson, Inc.</name>
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        <name>MGIC Investment Corp.</name>
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        <name>Oceaneering International, Inc.</name>
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        <name>KB Home</name>
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        <name>United Airlines Holdings, Inc.</name>
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        <name>Murphy Oil USA, Inc.</name>
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        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <name>Lamar Media Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Service Corp. International</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nordstrom, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fluor Corp.</name>
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        <title>Fluor Corp.</title>
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          <isin value="US343412AF90"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>AECOM</name>
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        <title>AECOM</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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      <invstOrSec>
        <name>Encompass Health Corp.</name>
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        <title>Encompass Health Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
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        <name>YUM! Brands, Inc.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <name>Teleflex Inc.</name>
        <lei>UUL85LWXB4NGSWWXIQ25</lei>
        <title>Teleflex Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SBA Communications Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TRI Pointe Group Inc / TRI Pointe Homes Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CDW LLC / CDW Finance Corp.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <issuerCat>CORP</issuerCat>
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        <name>EQM Midstream Partners, L.P.</name>
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        <name>PG&amp;E Corp.</name>
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        <name>Delta Air Lines, Inc.</name>
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        <name>Murphy Oil Corp.</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>Murphy Oil Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Newell Brands Inc.</name>
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        <name>Xerox Corp.</name>
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        <name>Ball Corp.</name>
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        <name>Range Resources Corp.</name>
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        <name>Toll Brothers Finance Corp.</name>
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        <name>Sprint Capital Corp.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Freeport-McMoRan Inc.</name>
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        <name>INVESCO PRIVATE GOVERNMENT FUND</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>CDW LLC / CDW Finance Corp.</name>
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        <name>VICI Properties L.P.</name>
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        <name>Toll Brothers Finance Corp.</name>
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        <title>Toll Brothers Finance Corp.</title>
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        <name>Steelcase Inc.</name>
        <lei>GIE4CCPBJDI8SMV1OX95</lei>
        <title>Steelcase Inc.</title>
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        <name>Radian Group Inc.</name>
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        <name>Dana Inc.</name>
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        <name>Under Armour, Inc.</name>
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        <name>Western Digital Corp.</name>
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        <name>Bath &amp; Body Works, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
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        <name>Freeport-McMoRan Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
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        <name>Murphy Oil Corp.</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>Murphy Oil Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>Navient Corp.</name>
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        <title>Navient Corp.</title>
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        <name>ATI Inc.</name>
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        <title>ATI Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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        <name>GLP Capital, L.P. / GLP Financing II, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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        <name>RHP Hotel Properties L.P./ RHP Finance Corp.</name>
        <lei>529900GCCWW9SRMPJR11</lei>
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          <isin value="US749571AF20"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Griffon Corp.</name>
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        <name>Vontier Corp.</name>
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        <name>Newmark Group, Inc.</name>
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        <name>INVESCO PRIVATE PRIME FUND</name>
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        <name>AMC Networks Inc.</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMC Networks Inc.</title>
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        <name>DPL Inc.</name>
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        <title>DPL Inc.</title>
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        <name>Southwestern Energy Co.</name>
        <lei>EFWMP121W54QV9MGOP87</lei>
        <title>Southwestern Energy Co.</title>
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        <name>Lumen Technologies, Inc.</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>Lumen Technologies, Inc., Series G</title>
        <cusip>156686AM9</cusip>
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        <name>Service Properties Trust</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust</title>
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        <invCountry>US</invCountry>
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        <name>Navient Corp.</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>Navient Corp.</title>
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        <name>Apache Corp.</name>
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        <name>Olin Corp.</name>
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        <name>Cleveland-Cliffs Steel Corp.</name>
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        <name>Travel + Leisure Co.</name>
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        <name>MGM Resorts International</name>
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        <name>Western Digital Corp.</name>
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        <name>Ball Corp.</name>
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        <name>MGM Resorts International</name>
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        <name>Ford Motor Co.</name>
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        <name>QVC, Inc.</name>
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          <maturityDt>2025-02-15</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
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        <name>Spectrum Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>DISH DBS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Netflix, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
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        <name>Hyatt Hotels Corp.</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-23</maturityDt>
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        <name>VICI Properties L.P.</name>
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        <name>Hillenbrand, Inc.</name>
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          <maturityDt>2031-03-01</maturityDt>
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        <name>Southwestern Energy Co.</name>
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        <name>Corecivic, Inc.</name>
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        <name>M.D.C. Holdings, Inc.</name>
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        <name>DISH DBS Corp.</name>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <name>United Rentals (North America), Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
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        <name>Penske Automotive Group, Inc.</name>
        <lei>549300W7UTQ0M4C7LB15</lei>
        <title>Penske Automotive Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Steel Corp.</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
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        <name>Cheniere Energy, Inc.</name>
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        <name>AmeriGas Partners L.P./ AmeriGas Finance Corp.</name>
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        <name>EQT Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>The Goodyear Tire &amp; Rubber Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Skyworks Solutions, Inc.</name>
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        <name>OneMain Finance Corp.</name>
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        <name>Hyatt Hotels Corp.</name>
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        <name>CROWN Americas LLC</name>
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        <name>Meritage Homes Corp.</name>
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        <name>Service Properties Trust</name>
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        <name>Sabra Health Care L.P.</name>
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        <name>Churchill Downs Inc.</name>
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        <name>Twilio Inc.</name>
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        <name>Centene Corp.</name>
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        <name>FirstEnergy Corp.</name>
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        <name>Radian Group Inc.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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        <curCd>USD</curCd>
        <valUSD>4422362.78000000</valUSD>
        <pctVal>0.595628833382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MPT Operating Partnership L.P./ MPT Finance Corp.</name>
        <lei>N/A</lei>
        <title>MPT Operating Partnership L.P./ MPT Finance Corp.</title>
        <cusip>55342UAH7</cusip>
        <identifiers>
          <isin value="US55342UAH77"/>
        </identifiers>
        <balance>5398000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4856048.47000000</valUSD>
        <pctVal>0.654040075164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
        <cusip>517834AG2</cusip>
        <identifiers>
          <isin value="US517834AG23"/>
        </identifiers>
        <balance>7551000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7151852.78000000</valUSD>
        <pctVal>0.963251985373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1421691.67000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Sheri Morris</ncom:signature>
      <ncom:signerName>Sheri Morris</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
