NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco KBW Bank ETF (KBWB)
May 31, 2024
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.94%
Asset Management & Custody Banks-10.95%
Bank of New York Mellon Corp. (The)
  1,010,780   $   60,252,596
Northern Trust Corp.
  593,628       50,007,222
State Street Corp.
  769,159      58,140,729
        168,400,547
Consumer Finance-3.69%
Capital One Financial Corp.
  412,047      56,710,028
Diversified Banks-43.97%
Bank of America Corp.
  3,285,616      131,391,784
Citigroup, Inc.
  1,021,856       63,671,847
Comerica, Inc.
  384,016       19,676,980
Fifth Third Bancorp
  1,651,192       61,787,605
JPMorgan Chase & Co.
  609,591      123,521,424
KeyCorp
  2,706,149       38,887,361
PNC Financial Services Group, Inc. (The)
  385,210       60,628,202
U.S. Bancorp
  1,351,232       54,792,458
Wells Fargo & Co.
  2,040,135     122,244,889
        676,602,550
Investment Banking & Brokerage-17.02%
Goldman Sachs Group, Inc. (The)
  291,513      133,081,515
Morgan Stanley
  1,317,138     128,868,782
        261,950,297
Regional Banks-24.31%
Citizens Financial Group, Inc.
  1,329,847       46,930,301
East West Bancorp, Inc.(b)
  405,749       30,102,518
First Horizon Corp.
  1,619,570      25,653,989
  Shares   Value
Regional Banks-(continued)
Huntington Bancshares, Inc.
  4,197,943   $   58,435,367
M&T Bank Corp.
  405,750       61,511,700
Regions Financial Corp.
  2,663,480       51,538,338
Truist Financial Corp.
  1,621,188       61,199,847
Western Alliance Bancorporation
  319,441       20,134,366
Zions Bancorporation N.A.
  429,612      18,554,942
        374,061,368
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $1,634,979,304)
  1,537,724,790
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.03%
Invesco Private Government Fund, 5.30%(c)(d)(e)
  151,252          151,252
Invesco Private Prime Fund, 5.48%(c)(d)(e)
  388,633         388,750
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $540,002)
  540,002
TOTAL INVESTMENTS IN SECURITIES-99.97%

(Cost $1,635,519,306)
  1,538,264,792
OTHER ASSETS LESS LIABILITIES-0.03%
  420,153
NET ASSETS-100.00%
  $1,538,684,945
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at May 31, 2024.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $43,488,954   $(43,488,954)   $-   $-   $-   $28,040
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 9,165,896   81,122,822   (90,137,466)   -   -   151,252   127,626*
Invesco Private Prime Fund 23,569,447   175,756,242   (198,936,813)   141   (267)   388,750   330,360*
Total $32,735,343   $300,368,018   $(332,563,233)   $141   $(267)   $540,002   $486,026
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(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(a)
Invesco KBW High Dividend Yield Financial ETF (KBWD)
May 31, 2024
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-68.67%
Asset Management & Custody Banks-5.84%
Artisan Partners Asset Management, Inc., Class A(b)
  132,934   $   5,853,084
Janus Henderson Group PLC
  145,663       4,879,711
Runway Growth Finance Corp.(b)
  946,396     11,337,824
        22,070,619
Consumer Finance-2.11%
OneMain Holdings, Inc.(b)
  162,571      7,985,487
Diversified Banks-1.39%
KeyCorp
  365,077      5,246,156
Diversified Financial Services-1.69%
Jackson Financial, Inc., Class A
  83,765      6,366,978
Investment Banking & Brokerage-4.72%
B. Riley Financial, Inc.(b)
  539,666     12,930,397
Lazard, Inc.(b)
  122,077      4,911,158
        17,841,555
Life & Health Insurance-3.14%
Lincoln National Corp.
  215,161       7,098,161
Prudential Financial, Inc.
  39,688      4,776,451
        11,874,612
Mortgage REITs-40.65%
AGNC Investment Corp.(b)
  1,428,459     13,698,922
Annaly Capital Management, Inc.(b)
  646,818     12,742,315
Apollo Commercial Real Estate Finance, Inc.(b)
  1,010,034     10,201,343
Ares Commercial Real Estate Corp.(b)
  1,594,696     11,099,084
ARMOUR Residential REIT, Inc.(b)
  666,014     12,880,711
Dynex Capital, Inc.(b)
  928,784     11,377,604
Ellington Financial, Inc.(b)
  1,271,255     15,407,610
KKR Real Estate Finance Trust, Inc.(b)
  953,700       9,022,002
MFA Financial, Inc.
  1,008,233     10,788,093
New York Mortgage Trust, Inc.(b)
  1,395,212       8,301,511
Ready Capital Corp.(b)
  1,395,339     11,581,314
TPG RE Finance Trust, Inc.
  1,555,564     13,346,739
Two Harbors Investment Corp.(b)
  1,016,576     13,063,002
        153,510,250
Regional Banks-7.52%
Eagle Bancorp, Inc.
  287,612       5,185,644
First Interstate BancSystem, Inc., Class A
  246,040       6,529,902
New York Community Bancorp, Inc.
  790,285       2,600,038
Northwest Bancshares, Inc.(b)
  552,255       6,047,192
Washington Trust Bancorp, Inc.(b)
  306,515      8,046,019
        28,408,795
  Shares   Value
Transaction & Payment Processing Services-1.61%
Western Union Co. (The)
  473,905   $   6,065,984
Total Common Stocks & Other Equity Interests

(Cost $278,913,664)
  259,370,436
Closed-End Funds-31.04%
Barings BDC, Inc.
  981,746       9,866,547
BlackRock TCP Capital Corp.(b)
  1,072,927     11,888,031
Capital Southwest Corp., BDC
  9,351         239,199
Fidus Investment Corp.(b)
  612,346     12,246,920
FS KKR Capital Corp., BDC(b)
  712,152     14,599,116
Goldman Sachs BDC, Inc., BDC(b)
  723,357     11,125,231
MidCap Financial Investment Corp., BDC(b)
  635,127     10,231,896
PennantPark Investment Corp., BDC(b)
  1,637,310     12,263,452
Prospect Capital Corp., BDC(b)
  2,142,276     12,039,591
Trinity Capital, Inc., BDC(b)
  857,673     12,787,904
TriplePoint Venture Growth BDC Corp., BDC(b)
  1,059,686      9,929,258
        117,217,145
Total Closed-End Funds

(Cost $109,572,499)
  117,217,145
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.71%

(Cost $388,486,163)
  376,587,581
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-31.25%
Invesco Private Government Fund, 5.30%(c)(d)(e)
  32,434,513     32,434,513
Invesco Private Prime Fund, 5.48%(c)(d)(e)
  85,578,466     85,604,140
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $118,041,184)
  118,038,653
TOTAL INVESTMENTS IN SECURITIES-130.96%

(Cost $506,527,347)
  494,626,234
OTHER ASSETS LESS LIABILITIES-(30.96)%
  (116,945,259)
NET ASSETS-100.00%
  $377,680,975
See accompanying notes which are an integral part of this schedule.
Invesco KBW High Dividend Yield Financial ETF (KBWD)—(continued)
May 31, 2024
(Unaudited)
Investment Abbreviations:
BDC -Business Development Company
REIT -Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at May 31, 2024.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $12,230,815   $(12,230,815)   $-   $-   $-   $8,301
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 28,150,755   211,241,266   (206,957,508)   -   -   32,434,513   1,044,594*
Invesco Private Prime Fund 72,387,657   409,721,973   (396,522,178)   (1,922)   18,610   85,604,140   2,836,239*
Total $100,538,412   $633,194,054   $(615,710,501)   $(1,922)   $18,610   $118,038,653   $3,889,134
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(d) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(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(a)
Invesco KBW Premium Yield Equity REIT ETF (KBWY)
May 31, 2024
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.72%
Diversified REITs-25.85%
American Assets Trust, Inc.
  240,712   $  5,235,486
Armada Hoffler Properties, Inc.(b)
  661,324     7,499,414
Broadstone Net Lease, Inc.
  428,595     6,578,933
Gladstone Commercial Corp.
  654,392     9,416,701
Global Net Lease, Inc.(b)
  2,158,221    16,143,493
W.P. Carey, Inc.
  90,610     5,110,404
        49,984,431
Health Care REITs-20.01%
Global Medical REIT, Inc.(b)
  876,457     8,142,285
Healthcare Realty Trust, Inc.(b)
  545,779     8,857,993
LTC Properties, Inc.
  192,537     6,623,273
Omega Healthcare Investors, Inc.(b)
  231,287     7,477,509
Sabra Health Care REIT, Inc.
  520,591     7,590,217
        38,691,277
Hotel & Resort REITs-6.34%
Apple Hospitality REIT, Inc.
  309,922     4,475,274
Service Properties Trust(b)
  1,446,000     7,779,480
        12,254,754
Industrial REITs-6.08%
Innovative Industrial Properties, Inc.(b)
  63,367     6,829,695
LXP Industrial Trust
  579,512     4,925,852
        11,755,547
Multi-Family Residential REITs-3.44%
NexPoint Residential Trust, Inc.
  181,189     6,644,201
Office REITs-15.14%
Easterly Government Properties, Inc.(b)
  636,269     7,533,425
Highwoods Properties, Inc.
  279,622     7,261,783
Office Properties Income Trust(c)
  468,949     1,073,893
Piedmont Office Realty Trust, Inc., Class A
  1,062,997     7,749,248
SL Green Realty Corp.
  106,682     5,650,946
        29,269,295
Other Specialized REITs-14.95%
EPR Properties
  169,379     6,951,314
Four Corners Property Trust, Inc.(b)
  197,271     4,815,385
Gaming and Leisure Properties, Inc.
  122,838     5,515,426
  Shares   Value
Other Specialized REITs-(continued)
Outfront Media, Inc.
  485,694   $  7,018,279
Uniti Group, Inc.(b)
  1,460,333     4,614,652
        28,915,056
Retail REITs-5.15%
Getty Realty Corp.(b)
  216,509     5,977,813
Kimco Realty Corp.
  205,491     3,978,306
        9,956,119
Self-Storage REITs-2.76%
National Storage Affiliates Trust(b)
  145,993     5,340,424
Total Common Stocks & Other Equity Interests

(Cost $201,003,001)
  192,811,104
Money Market Funds-0.11%
Invesco Government & Agency Portfolio, Institutional Class, 5.23%(c)(d)

(Cost $201,675)
  201,675       201,675
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.83%

(Cost $201,204,676)
  193,012,779
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-16.94%
Invesco Private Government Fund, 5.30%(c)(d)(e)
  9,172,541     9,172,541
Invesco Private Prime Fund, 5.48%(c)(d)(e)
  23,579,262    23,586,336
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $32,759,190)
  32,758,877
TOTAL INVESTMENTS IN SECURITIES-116.77%

(Cost $233,963,866)
  225,771,656
OTHER ASSETS LESS LIABILITIES-(16.77)%
  (32,421,341)
NET ASSETS-100.00%
  $193,350,315
Investment Abbreviations:
REIT -Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at May 31, 2024.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $180,342   $13,947,246   $(13,925,913)   $-   $-   $201,675   $10,511
See accompanying notes which are an integral part of this schedule.
Invesco KBW Premium Yield Equity REIT ETF (KBWY)—(continued)
May 31, 2024
(Unaudited)
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain
(Loss) 		  Value
May 31, 2024 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $19,180,714   $115,225,822   $(125,233,995)   $-   $-   $9,172,541   $514,116*
Invesco Private Prime Fund 49,321,834   247,819,038   (273,565,160)   (1,058)   11,682   23,586,336   1,365,213*
Investments in Other Affiliates:                          
Office Properties Income Trust** 8,336,588   11,581,835   (7,324,337)   9,692,905   (21,213,098)   1,073,893   (76,221)
Total $77,019,478   $388,573,941   $(420,049,405)   $9,691,847   $(21,201,416)   $34,034,445   $1,813,619
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
** As of August 31, 2023, this security was not considered as an affiliate of the Fund.
    
(d) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(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(a)
Invesco KBW Property & Casualty Insurance ETF (KBWP)
May 31, 2024
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.89%
Multi-line Insurance-13.29%
American International Group, Inc.
  346,525   $ 27,313,100
Assurant, Inc.
  69,634    12,079,410
Horace Mann Educators Corp.
  134,245     4,587,152
        43,979,662
Property & Casualty Insurance-76.48%
Allstate Corp. (The)
  158,350    26,526,792
American Financial Group, Inc.
  98,909    12,849,267
Arch Capital Group Ltd.(b)
  144,170    14,796,167
AXIS Capital Holdings Ltd.
  201,825    14,910,831
Chubb Ltd.
  100,377    27,184,099
Cincinnati Financial Corp.
  110,750    13,021,985
Hanover Insurance Group, Inc. (The)
  96,066    12,673,987
Hartford Financial Services Group, Inc. (The)
  131,762    13,630,779
James River Group Holdings Ltd.
  123,682        965,956
Kemper Corp.
  211,212    12,638,926
Mercury General Corp.
  181,874    10,154,026
ProAssurance Corp.(b)(c)
  167,394     2,405,452
Progressive Corp. (The)
  133,254    28,140,580
RLI Corp.
  86,218    12,586,104
Selective Insurance Group, Inc.
  120,877    11,798,804
Travelers Cos., Inc. (The)
  114,326    24,660,118
Universal Insurance Holdings, Inc.
  95,136     1,875,131
W.R. Berkley Corp.
  151,037    12,238,528
        253,057,532
Reinsurance-10.12%
Everest Group Ltd.
  34,202    13,370,588
RenaissanceRe Holdings Ltd. (Bermuda)(c)
  56,157    12,795,934
SiriusPoint Ltd. (Bermuda)(b)(c)
  557,646     7,333,045
        33,499,567
Total Common Stocks & Other Equity Interests

(Cost $296,721,385)
  330,536,761
  Shares   Value
Money Market Funds-0.05%
Invesco Government & Agency Portfolio, Institutional Class, 5.23%(d)(e)

(Cost $169,641)
  169,641   $    169,641
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $296,891,026)
  330,706,402
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.08%
Invesco Private Government Fund, 5.30%(d)(e)(f)
  74,339         74,339
Invesco Private Prime Fund, 5.48%(d)(e)(f)
  191,055       191,112
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $265,451)
  265,451
TOTAL INVESTMENTS IN SECURITIES-100.02%

(Cost $297,156,477)
  330,971,853
OTHER ASSETS LESS LIABILITIES-(0.02)%
  (79,149)
NET ASSETS-100.00%
  $330,892,704
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at May 31, 2024.
(d) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $66,778   $2,392,370   $(2,289,507)   $-   $-   $169,641   $3,285
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 1,817,266   10,960,099   (12,703,026)   -   -   74,339   27,982*
Invesco Private Prime Fund 4,672,971   26,910,132   (31,392,431)   -   440   191,112   74,734*
Total $6,557,015   $40,262,601   $(46,384,964)   $-   $440   $435,092   $106,001
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
See accompanying notes which are an integral part of this schedule.
Invesco KBW Property & Casualty Insurance ETF (KBWP)—(continued)
May 31, 2024
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(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(a)
Invesco KBW Regional Banking ETF (KBWR)
May 31, 2024
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.74%
Regional Banks-99.74%
Ameris Bancorp(b)
  22,174   $ 1,107,591
Associated Banc-Corp
  49,295    1,055,898
Atlantic Union Bankshares Corp.(b)
  35,238    1,149,816
Banc of California, Inc.(b)
  66,322       919,223
Bank of Hawaii Corp.
  15,603       900,917
Bank OZK(b)
  23,455       982,295
BankUnited, Inc.(b)
  29,195       837,605
BOK Financial Corp.
  12,085    1,095,143
Brookline Bancorp, Inc.(b)
  34,897       301,859
Cadence Bank
  37,114    1,059,605
Cathay General Bancorp
  26,305       969,076
Columbia Banking System, Inc.
  56,755    1,094,236
Commerce Bancshares, Inc.
  36,816    2,048,442
Community Financial System, Inc.(b)
  20,936       951,751
Cullen/Frost Bankers, Inc.
  18,201    1,848,858
CVB Financial Corp.(b)
  54,713       904,953
Eastern Bankshares, Inc.
  69,257       948,821
F.N.B. Corp.
  77,009    1,060,414
First Bancorp
  60,500    1,072,665
First Commonwealth Financial Corp.(b)
  40,138       542,264
First Financial Bancorp
  37,324       832,325
First Financial Bankshares, Inc.(b)
  33,203       995,426
First Hawaiian, Inc.
  49,011       996,394
First Interstate BancSystem, Inc., Class A
  39,030    1,035,856
Fulton Financial Corp.(b)
  71,188    1,198,806
Glacier Bancorp, Inc.(b)
  27,454    1,026,231
Hancock Whitney Corp.
  23,563    1,101,099
Home BancShares, Inc.
  43,789    1,029,917
Hope Bancorp, Inc.
  47,158       496,574
Independent Bank Corp.(b)
  16,662       846,263
New York Community Bancorp, Inc.
  236,855       779,253
Old National Bancorp
  62,526    1,068,569
Pacific Premier Bancorp, Inc.
  37,633       836,958
Pinnacle Financial Partners, Inc.
  21,810    1,734,113
Popular, Inc.
  12,276    1,092,687
Prosperity Bancshares, Inc.
  16,460    1,025,458
Provident Financial Services, Inc.
  29,653       427,003
Simmons First National Corp., Class A
  49,197       855,044
SouthState Corp.(b)
  21,564    1,667,113
Synovus Financial Corp.(b)
  27,076    1,074,646
  Shares   Value
Regional Banks-(continued)
Texas Capital Bancshares, Inc.(c)
  17,515   $ 1,055,804
Trustmark Corp.
  23,980       699,017
UMB Financial Corp.
  12,587    1,037,672
United Bankshares, Inc.
  29,613       960,646
United Community Banks, Inc.(b)
  39,496    1,013,467
Valley National Bancorp(b)
  125,430       894,316
WaFd, Inc.(b)
  31,961       895,228
Webster Financial Corp.
  43,126    1,907,032
Wintrust Financial Corp.
  10,661    1,051,281
WSFS Financial Corp.
  23,665    1,042,680
        51,528,310
Total Common Stocks & Other Equity Interests

(Cost $63,365,610)
  51,528,310
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 5.23%(d)(e)

(Cost $44,728)
  44,728       44,728
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.83%

(Cost $63,410,338)
  51,573,038
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-16.46%
Invesco Private Government Fund, 5.30%(d)(e)(f)
  2,354,999    2,354,999
Invesco Private Prime Fund, 5.48%(d)(e)(f)
  6,148,339    6,150,184
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $8,505,183)
  8,505,183
TOTAL INVESTMENTS IN SECURITIES-116.29%

(Cost $71,915,521)
  60,078,221
OTHER ASSETS LESS LIABILITIES-(16.29)%
  (8,413,743)
NET ASSETS-100.00%
  $51,664,478
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at May 31, 2024.
(c) Non-income producing security.
(d) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the nine months ended May 31, 2024.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
May 31, 2024 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $1,527,347   $(1,482,619)   $-   $-   $44,728   $1,421
See accompanying notes which are an integral part of this schedule.
Invesco KBW Regional Banking ETF (KBWR)—(continued)
May 31, 2024
(Unaudited)
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Realized
Gain 		  Value
May 31, 2024 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $4,669,170   $38,355,662   $(40,669,833)   $-   $-   $2,354,999   $131,935*
Invesco Private Prime Fund 12,006,441   83,070,907   (88,930,796)   (139)   3,771   6,150,184   350,517*
Total $16,675,611   $122,953,916   $(131,083,248)   $(139)   $3,771   $8,549,911   $483,873
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(e) The rate shown is the 7-day SEC standardized yield as of May 31, 2024.
(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
May 31, 2024
(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. 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 Invesco Capital Management LLC’s 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 May 31, 2024. 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 KBW Bank ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,537,724,790   $-   $-   $1,537,724,790
Money Market Funds -   540,002   -   540,002
Total Investments $1,537,724,790   $540,002   $-   $1,538,264,792
Invesco KBW High Dividend Yield Financial ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $259,370,436   $-   $-   $259,370,436
Closed-End Funds 117,217,145   -   -   117,217,145
Money Market Funds -   118,038,653   -   118,038,653
Total Investments $376,587,581   $118,038,653   $-   $494,626,234
Invesco KBW Premium Yield Equity REIT ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $192,811,104   $-   $-   $192,811,104
Money Market Funds 201,675   32,758,877   -   32,960,552
Total Investments $193,012,779   $32,758,877   $-   $225,771,656
Invesco KBW Property & Casualty Insurance ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $330,536,761   $-   $-   $330,536,761
Money Market Funds 169,641   265,451   -   435,092
Total Investments $330,706,402   $265,451   $-   $330,971,853
Invesco KBW Regional Banking ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $51,528,310   $-   $-   $51,528,310
Money Market Funds 44,728   8,505,183   -   8,549,911
Total Investments $51,573,038   $8,505,183   $-   $60,078,221