NPORT-EX 2 edgar.htm EDGAR HTML
Schedule of Investments(a)
Invesco ESG S&P 500 Equal Weight ETF (RSPE)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.79%
Communication Services-4.07%
Alphabet, Inc., Class A
 
347
$58,626
Alphabet, Inc., Class C
 
284
48,419
AT&T, Inc.
 
4,436
102,738
Comcast Corp., Class A
 
2,460
106,247
Interpublic Group of Cos., Inc. (The)
 
3,078
94,833
News Corp., Class A
 
2,799
82,150
News Corp., Class B(b)
 
831
26,667
Paramount Global, Class B
 
9,539
103,498
Walt Disney Co. (The)
 
1,078
126,633
 
 
749,811
Consumer Discretionary-11.87%
Aptiv PLC(c)
 
1,454
80,741
Best Buy Co., Inc.
 
975
87,750
Carnival Corp.(c)
 
5,756
146,375
D.R. Horton, Inc.
 
516
87,090
Deckers Outdoor Corp.(c)
 
630
123,455
eBay, Inc.
 
1,569
99,302
General Motors Co.
 
2,131
118,462
Hasbro, Inc.
 
1,413
92,057
Hilton Worldwide Holdings, Inc.
 
451
114,301
Home Depot, Inc. (The)
 
258
110,716
Lowe’s Cos., Inc.
 
386
105,158
Marriott International, Inc., Class A
 
418
120,840
NIKE, Inc., Class B
 
1,218
95,942
Norwegian Cruise Line Holdings Ltd.(c)
 
5,092
136,924
Ralph Lauren Corp.
 
545
126,113
Royal Caribbean Cruises Ltd.
 
589
143,751
Starbucks Corp.
 
971
99,489
TJX Cos., Inc. (The)
 
807
101,432
Tractor Supply Co.
 
347
98,433
Yum! Brands, Inc.
 
712
98,925
 
 
2,187,256
Consumer Staples-7.37%
Archer-Daniels-Midland Co.
 
1,613
88,070
Colgate-Palmolive Co.
 
897
86,677
Estee Lauder Cos., Inc. (The), Class A
 
1,128
81,351
General Mills, Inc.(b)
 
1,301
86,204
Hershey Co. (The)(b)
 
481
84,719
Kellanova
 
1,193
96,979
Kraft Heinz Co. (The)
 
2,706
86,511
McCormick & Co., Inc.
 
1,154
90,485
Mondelez International, Inc., Class A
 
1,285
83,461
PepsiCo, Inc.
 
543
88,753
Procter & Gamble Co. (The)
 
549
98,414
Target Corp.(b)
 
647
85,605
The Campbell’s Company(b)
 
1,937
89,489
Walgreens Boots Alliance, Inc.(b)
 
10,891
98,237
Walmart, Inc.
 
1,208
111,740
 
 
1,356,695
Financials-17.23%
Aflac, Inc.
 
886
101,004
Allstate Corp. (The)
 
517
107,221
American International Group, Inc.
 
1,324
101,789
Assurant, Inc.
 
504
114,458
Bank of America Corp.
 
2,442
116,019
Bank of New York Mellon Corp. (The)
 
1,400
114,618
Cboe Global Markets, Inc.
 
451
97,348
Citigroup, Inc.
 
1,662
117,786
Fidelity National Information Services, Inc.
 
1,141
97,327
 
Shares
Value
Financials-(continued)
Fifth Third Bancorp
 
2,314
$111,211
Globe Life, Inc.
 
943
104,899
Hartford Financial Services Group, Inc. (The)
 
834
102,841
Huntington Bancshares, Inc.
 
6,694
120,559
Intercontinental Exchange, Inc.
 
596
95,932
M&T Bank Corp.
 
576
126,714
Mastercard, Inc., Class A
 
195
103,923
MetLife, Inc.
 
1,274
112,405
Moody’s Corp.
 
198
98,996
Morgan Stanley
 
983
129,373
MSCI, Inc.
 
169
103,027
Nasdaq, Inc.
 
1,322
109,713
Northern Trust Corp.
 
1,091
121,276
PayPal Holdings, Inc.(c)
 
1,374
119,222
Principal Financial Group, Inc.
 
1,206
105,031
Prudential Financial, Inc.
 
830
107,410
Regions Financial Corp.
 
4,327
117,954
S&P Global, Inc.
 
184
96,142
State Street Corp.
 
1,154
113,681
Visa, Inc., Class A(b)
 
335
105,552
 
 
3,173,431
Health Care-11.63%
Abbott Laboratories
 
817
97,035
AbbVie, Inc.
 
491
89,819
Agilent Technologies, Inc.
 
687
94,785
Amgen, Inc.(b)
 
288
81,467
Baxter International, Inc.
 
2,422
81,646
Becton, Dickinson and Co.
 
409
90,757
Biogen, Inc.(c)
 
479
76,942
Boston Scientific Corp.(c)
 
1,152
104,440
Centene Corp.(c)
 
1,297
77,820
Cigna Group (The)
 
267
90,193
CVS Health Corp.
 
1,702
101,865
Danaher Corp.
 
350
83,892
DaVita, Inc.(c)
 
620
103,025
Edwards Lifesciences Corp.(c)
 
1,401
99,961
Elevance Health, Inc.
 
176
71,625
Gilead Sciences, Inc.
 
1,180
109,244
Humana, Inc.
 
291
86,247
Medtronic PLC
 
1,053
91,127
Merck & Co., Inc.
 
830
84,361
Moderna, Inc.(b)(c)
 
1,197
51,543
Quest Diagnostics, Inc.
 
621
101,012
Regeneron Pharmaceuticals, Inc.(c)
 
84
63,018
UnitedHealth Group, Inc.
 
162
98,852
Waters Corp.(b)(c)
 
292
112,338
 
 
2,143,014
Industrials-17.19%
Automatic Data Processing, Inc.
 
344
105,584
C.H. Robinson Worldwide, Inc.
 
955
100,829
Carrier Global Corp.
 
1,296
100,272
Caterpillar, Inc.
 
285
115,741
CSX Corp.
 
2,859
104,496
Cummins, Inc.
 
325
121,888
Dayforce, Inc.(b)(c)
 
1,650
131,984
Deere & Co.(b)
 
245
114,146
Dover Corp.
 
520
107,068
Emerson Electric Co.
 
952
126,235
Hubbell, Inc.
 
244
112,262
Illinois Tool Works, Inc.(b)
 
387
107,400
Ingersoll Rand, Inc.
 
1,063
110,733
See accompanying notes which are an integral part of this schedule.
Invesco ESG S&P 500 Equal Weight ETF (RSPE)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Industrials-(continued)
J.B. Hunt Transport Services, Inc.
 
564
$106,658
Johnson Controls International PLC
 
1,348
113,043
Norfolk Southern Corp.
 
376
103,720
Otis Worldwide Corp.
 
1,033
106,378
PACCAR, Inc.
 
1,011
118,287
Pentair PLC
 
1,087
118,472
Republic Services, Inc.
 
466
101,728
Rockwell Automation, Inc.
 
373
110,087
Stanley Black & Decker, Inc.
 
975
87,214
Trane Technologies PLC
 
270
112,379
Union Pacific Corp.
 
386
94,439
United Rentals, Inc.
 
135
116,910
Verisk Analytics, Inc.
 
351
103,268
W.W. Grainger, Inc.
 
97
116,918
Waste Management, Inc.
 
460
104,981
Xylem, Inc.
 
735
93,161
 
 
3,166,281
Information Technology-14.47%
Accenture PLC, Class A (Ireland)
 
272
98,565
Adobe, Inc.(c)
 
166
85,644
Akamai Technologies, Inc.(c)
 
986
92,704
Apple, Inc.
 
428
101,577
Applied Materials, Inc.
 
513
89,626
Autodesk, Inc.(c)
 
369
107,711
Cisco Systems, Inc.
 
1,938
114,749
Cognizant Technology Solutions Corp., Class A
 
1,248
100,452
Hewlett Packard Enterprise Co.(b)
 
5,827
123,649
HP, Inc.
 
2,851
101,011
Intel Corp.
 
4,847
116,570
International Business Machines Corp.(b)
 
454
103,244
Juniper Networks, Inc.
 
2,470
88,722
Keysight Technologies, Inc.(c)
 
644
110,021
KLA Corp.(b)
 
128
82,820
Lam Research Corp.
 
1,244
91,907
Micron Technology, Inc.
 
1,051
102,946
Microsoft Corp.
 
224
94,855
NVIDIA Corp.
 
816
112,812
ON Semiconductor Corp.(c)
 
1,350
96,012
Palo Alto Networks, Inc.(b)(c)
 
279
108,202
QUALCOMM, Inc.
 
572
90,679
Salesforce, Inc.
 
383
126,386
ServiceNow, Inc.(c)
 
109
114,389
TE Connectivity PLC (Switzerland)
 
661
99,890
Western Digital Corp.(b)(c)
 
1,505
109,850
 
 
2,664,993
Materials-5.73%
Air Products and Chemicals, Inc.(b)
 
344
115,009
Albemarle Corp.(b)
 
1,066
114,808
Ball Corp.
 
1,467
91,189
Dow, Inc.
 
1,884
83,292
Ecolab, Inc.
 
383
95,279
Freeport-McMoRan, Inc.
 
2,314
102,279
Linde PLC
 
206
94,964
LyondellBasell Industries N.V., Class A
 
1,013
84,423
Mosaic Co. (The)
 
3,823
101,157
 
Shares
Value
Materials-(continued)
Newmont Corp.
 
1,875
$78,637
PPG Industries, Inc.
 
761
94,646
 
 
1,055,683
Real Estate-7.10%
Alexandria Real Estate Equities, Inc.
 
790
87,082
BXP, Inc.(b)
 
1,248
102,323
CBRE Group, Inc., Class A(c)
 
815
114,092
Digital Realty Trust, Inc.
 
601
117,610
Equinix, Inc.
 
110
107,963
Federal Realty Investment Trust
 
819
95,536
Healthpeak Properties, Inc.
 
4,299
94,535
Host Hotels & Resorts, Inc.
 
5,658
104,220
Kimco Realty Corp.
 
4,053
103,635
Prologis, Inc.
 
732
85,483
Ventas, Inc.
 
1,457
93,350
Welltower, Inc.
 
740
102,253
Weyerhaeuser Co.
 
3,083
99,458
 
 
1,307,540
Utilities-3.13%
American Water Works Co., Inc.(b)
 
648
88,737
Consolidated Edison, Inc.
 
919
92,442
Edison International
 
1,130
99,157
Eversource Energy
 
1,404
90,544
Exelon Corp.
 
2,421
95,775
Sempra
 
1,170
109,594
 
 
576,249
Total Common Stocks & Other Equity Interests
(Cost $16,251,425)
18,380,953
Money Market Funds-0.08%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $14,959)
 
14,959
14,959
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.87%
(Cost $16,266,384)
18,395,912
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-10.42%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
537,723
537,723
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
1,381,177
1,381,591
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $1,919,314)
1,919,314
TOTAL INVESTMENTS IN SECURITIES-110.29%
(Cost $18,185,698)
20,315,226
OTHER ASSETS LESS LIABILITIES-(10.29)%
(1,895,850
)
NET ASSETS-100.00%
$18,419,376
See accompanying notes which are an integral part of this schedule.
Invesco ESG S&P 500 Equal Weight ETF (RSPE)—(continued)
November 30, 2024
(Unaudited)
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$98,167
$(83,208
)
$-
$-
$14,959
$90
Investments Purchased with
Cash Collateral from Securities
on Loan:
Invesco Private Government Fund
257,617
2,261,125
(1,981,019
)
-
-
537,723
5,358
*
Invesco Private Prime Fund
707,352
4,855,712
(4,181,370
)
(43
)
(60
)
1,381,591
14,284
*
Total
$964,969
$7,215,004
$(6,245,597
)
$(43
)
$(60
)
$1,934,273
$19,732
 
*
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 November 30, 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 MSCI USA ETF (PBUS)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-8.87%
Alphabet, Inc., Class A
 
671,864
$113,511,423
Alphabet, Inc., Class C
 
576,391
98,268,902
AT&T, Inc.
 
822,246
19,043,217
Charter Communications, Inc., Class A(b)(c)
 
10,650
4,227,677
Comcast Corp., Class A
 
442,982
19,132,393
Electronic Arts, Inc.
 
28,777
4,709,932
Fox Corp., Class A(c)
 
25,515
1,202,267
Fox Corp., Class B
 
16,076
719,079
Interpublic Group of Cos., Inc. (The)
 
43,849
1,350,988
Liberty Media Corp.-Liberty Formula
One(b)(c)
 
23,919
2,113,483
Live Nation Entertainment, Inc.(b)
 
18,628
2,575,321
Match Group, Inc.(b)
 
28,893
945,957
Meta Platforms, Inc., Class A
 
250,604
143,926,889
Netflix, Inc.(b)
 
49,206
43,636,373
News Corp., Class A
 
43,450
1,275,257
Omnicom Group, Inc.
 
22,623
2,371,343
Pinterest, Inc., Class A(b)
 
68,229
2,068,703
Roblox Corp., Class A(b)(c)
 
53,972
2,705,616
Roku, Inc., Class A(b)
 
14,540
1,003,696
Snap, Inc., Class A(b)(c)
 
119,676
1,413,374
Take-Two Interactive Software, Inc.(b)
 
20,100
3,786,438
T-Mobile US, Inc.
 
60,210
14,868,257
Trade Desk, Inc. (The), Class A(b)
 
51,079
6,566,205
Verizon Communications, Inc.
 
482,999
21,416,176
Walt Disney Co. (The)
 
207,977
24,431,058
Warner Bros. Discovery, Inc.(b)
 
263,971
2,766,416
 
 
540,036,440
Consumer Discretionary-10.90%
Airbnb, Inc., Class A(b)
 
50,470
6,869,472
Amazon.com, Inc.(b)
 
1,083,217
225,189,982
Aptiv PLC(b)(c)
 
30,488
1,692,999
AutoZone, Inc.(b)
 
1,944
6,161,586
Best Buy Co., Inc.
 
23,602
2,124,180
Booking Holdings, Inc.
 
3,846
20,006,815
Burlington Stores, Inc.(b)
 
7,306
2,059,415
CarMax, Inc.(b)
 
17,642
1,481,399
Carnival Corp.(b)
 
115,110
2,927,247
Carvana Co.(b)(c)
 
13,059
3,400,825
Chipotle Mexican Grill, Inc.(b)
 
157,040
9,661,101
D.R. Horton, Inc.
 
33,856
5,714,216
Darden Restaurants, Inc.
 
13,493
2,378,411
Deckers Outdoor Corp.(b)
 
17,379
3,405,589
Dick’s Sporting Goods, Inc.
 
6,825
1,414,413
Domino’s Pizza, Inc.
 
3,975
1,892,855
DoorDash, Inc., Class A(b)
 
35,189
6,350,911
DraftKings, Inc., Class A(b)(c)
 
50,757
2,215,543
eBay, Inc.
 
56,077
3,549,113
Expedia Group, Inc.(b)
 
14,308
2,641,543
Flutter Entertainment PLC (United
Kingdom)(b)
 
20,392
5,634,717
Ford Motor Co.
 
447,717
4,983,090
Garmin Ltd.
 
17,353
3,689,248
General Motors Co.
 
128,881
7,164,495
Genuine Parts Co.
 
15,963
2,022,991
Hilton Worldwide Holdings, Inc.
 
28,258
7,161,707
Home Depot, Inc. (The)
 
113,934
48,892,497
Hyatt Hotels Corp., Class A
 
4,971
785,120
Las Vegas Sands Corp.(c)
 
42,833
2,272,719
Lennar Corp., Class A
 
27,390
4,776,542
LKQ Corp.
 
30,863
1,212,607
 
Shares
Value
Consumer Discretionary-(continued)
Lowe’s Cos., Inc.
 
65,048
$17,721,027
lululemon athletica, inc.(b)
 
12,812
4,108,296
Marriott International, Inc., Class A
 
27,446
7,934,364
McDonald’s Corp.
 
82,246
24,345,638
MercadoLibre, Inc. (Brazil)(b)
 
5,189
10,301,047
MGM Resorts International(b)(c)
 
26,141
1,002,246
NIKE, Inc., Class B
 
136,530
10,754,468
NVR, Inc.(b)
 
348
3,213,982
O’Reilly Automotive, Inc.(b)
 
6,662
8,282,332
Pool Corp.
 
4,355
1,642,227
PulteGroup, Inc.
 
23,800
3,219,426
Rivian Automotive, Inc., Class A(b)(c)
 
83,482
1,020,985
Ross Stores, Inc.
 
38,030
5,889,706
Royal Caribbean Cruises Ltd.
 
27,968
6,825,870
Starbucks Corp.
 
130,082
13,328,202
Tesla, Inc.(b)
 
329,704
113,800,632
TJX Cos., Inc. (The)
 
129,331
16,255,613
Tractor Supply Co.(c)
 
12,345
3,501,906
Ulta Beauty, Inc.(b)
 
5,376
2,078,577
Williams-Sonoma, Inc.(c)
 
14,500
2,494,290
Wynn Resorts Ltd.
 
11,608
1,095,563
Yum! Brands, Inc.
 
32,472
4,511,660
 
 
663,061,405
Consumer Staples-5.55%
Albertson’s Cos., Inc., Class A
 
43,344
860,378
Altria Group, Inc.
 
195,667
11,297,813
Archer-Daniels-Midland Co.
 
54,841
2,994,319
Brown-Forman Corp., Class B(c)
 
20,764
873,749
Bunge Global S.A.
 
16,376
1,469,582
Church & Dwight Co., Inc.
 
28,036
3,087,605
Clorox Co. (The)
 
14,196
2,373,145
Coca-Cola Co. (The)
 
469,718
30,099,529
Colgate-Palmolive Co.
 
89,349
8,633,794
Conagra Brands, Inc.
 
54,805
1,509,878
Constellation Brands, Inc., Class A
 
18,746
4,516,849
Costco Wholesale Corp.
 
50,819
49,389,970
Dollar General Corp.
 
25,011
1,932,600
Dollar Tree, Inc.(b)
 
23,664
1,686,533
Estee Lauder Cos., Inc. (The), Class A
 
26,720
1,927,046
General Mills, Inc.
 
64,075
4,245,610
Hershey Co. (The)
 
16,869
2,971,137
Hormel Foods Corp.
 
34,631
1,123,083
J.M. Smucker Co. (The)
 
12,074
1,422,196
Kellanova
 
31,450
2,556,571
Kenvue, Inc.
 
219,635
5,288,811
Keurig Dr Pepper, Inc.
 
132,184
4,315,808
Kimberly-Clark Corp.
 
38,840
5,412,354
Kraft Heinz Co. (The)
 
104,301
3,334,503
Kroger Co. (The)
 
78,705
4,807,301
Lamb Weston Holdings, Inc.
 
16,397
1,266,504
McCormick & Co., Inc.
 
28,696
2,250,053
Molson Coors Beverage Co., Class B
 
21,289
1,321,195
Mondelez International, Inc., Class A
 
153,177
9,948,846
Monster Beverage Corp.(b)
 
84,469
4,656,776
PepsiCo, Inc.
 
157,560
25,753,182
Philip Morris International, Inc.
 
178,274
23,721,138
Procter & Gamble Co. (The)
 
269,447
48,301,069
Sysco Corp.
 
56,331
4,343,683
Target Corp.
 
53,131
7,029,763
The Campbell’s Company
 
21,762
1,005,404
Tyson Foods, Inc., Class A
 
32,711
2,109,860
See accompanying notes which are an integral part of this schedule.
Invesco MSCI USA ETF (PBUS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Consumer Staples-(continued)
Walgreens Boots Alliance, Inc.(c)
 
83,432
$752,557
Walmart, Inc.
 
506,969
46,894,633
 
 
337,484,827
Energy-3.49%
APA Corp.
 
42,622
965,388
Baker Hughes Co., Class A
 
113,909
5,006,301
Cheniere Energy, Inc.
 
25,934
5,809,475
Chevron Corp.
 
199,254
32,265,200
ConocoPhillips
 
150,190
16,271,585
Coterra Energy, Inc.
 
85,985
2,297,519
Devon Energy Corp.
 
72,646
2,756,916
Diamondback Energy, Inc.
 
21,450
3,809,305
EOG Resources, Inc.
 
65,196
8,688,019
EQT Corp.
 
63,939
2,905,388
Expand Energy Corp.(c)
 
22,690
2,245,402
Exxon Mobil Corp.
 
509,479
60,098,143
Halliburton Co.
 
102,044
3,251,122
Hess Corp.
 
31,712
4,667,372
HF Sinclair Corp.
 
18,434
754,504
Kinder Morgan, Inc.
 
228,533
6,460,628
Marathon Petroleum Corp.
 
38,393
5,995,067
Occidental Petroleum Corp.
 
72,692
3,676,761
ONEOK, Inc.
 
67,325
7,648,120
Ovintiv, Inc.
 
30,997
1,407,884
Phillips 66
 
48,000
6,431,040
Schlumberger N.V.
 
162,832
7,154,838
Targa Resources Corp.
 
23,868
4,876,232
Texas Pacific Land Corp.(c)
 
2,253
3,605,003
Valero Energy Corp.
 
36,735
5,109,104
Williams Cos., Inc. (The)
 
139,934
8,188,938
 
 
212,345,254
Financials-13.73%
Aflac, Inc.
 
61,003
6,954,342
Allstate Corp. (The)
 
30,479
6,321,040
Ally Financial, Inc.
 
31,278
1,250,494
American Express Co.
 
65,211
19,868,487
American Financial Group, Inc.
 
8,119
1,192,356
American International Group, Inc.
 
73,833
5,676,281
Ameriprise Financial, Inc.
 
11,266
6,466,346
Annaly Capital Management, Inc.(c)
 
56,673
1,129,493
Aon PLC, Class A
 
22,433
8,783,417
Apollo Global Management, Inc.(c)
 
45,774
8,011,823
Arch Capital Group Ltd.(b)
 
43,153
4,346,370
Ares Management Corp., Class A
 
21,254
3,756,219
Arthur J. Gallagher & Co.
 
25,024
7,813,494
Assurant, Inc.
 
5,713
1,297,422
Bank of America Corp.
 
800,825
38,047,196
Bank of New York Mellon Corp. (The)
 
84,776
6,940,611
Berkshire Hathaway, Inc., Class B(b)
 
152,052
73,444,157
BlackRock, Inc.
 
16,991
17,378,395
Blackstone, Inc., Class A
 
82,587
15,781,550
Block, Inc., Class A(b)
 
63,675
5,638,421
Brown & Brown, Inc.
 
27,848
3,149,609
Capital One Financial Corp.
 
43,796
8,409,270
Carlyle Group, Inc. (The)
 
27,051
1,439,925
Cboe Global Markets, Inc.
 
12,101
2,612,001
Charles Schwab Corp. (The)
 
183,556
15,191,095
Chubb Ltd.
 
44,028
12,712,204
Cincinnati Financial Corp.
 
17,740
2,835,384
Citigroup, Inc.
 
218,744
15,502,387
Citizens Financial Group, Inc.
 
51,414
2,475,070
 
Shares
Value
Financials-(continued)
CME Group, Inc., Class A
 
41,227
$9,812,026
Coinbase Global, Inc., Class A(b)
 
22,124
6,553,129
Corebridge Financial, Inc.
 
31,528
1,020,561
Corpay, Inc.(b)
 
7,568
2,884,770
Discover Financial Services
 
28,530
5,204,728
Equitable Holdings, Inc.
 
36,340
1,752,678
Erie Indemnity Co., Class A
 
2,921
1,286,876
Everest Group Ltd.
 
4,855
1,881,604
FactSet Research Systems, Inc.
 
4,328
2,123,620
Fidelity National Financial, Inc.
 
29,428
1,865,441
Fidelity National Information Services, Inc.
 
62,575
5,337,648
Fifth Third Bancorp
 
77,839
3,740,942
First Citizens BancShares, Inc., Class A
 
1,112
2,552,040
Fiserv, Inc.(b)
 
66,007
14,584,907
Franklin Resources, Inc.
 
33,496
762,369
Global Payments, Inc.
 
29,362
3,492,904
Goldman Sachs Group, Inc. (The)
 
36,213
22,038,145
Hartford Financial Services Group, Inc.
(The)
 
33,807
4,168,741
Huntington Bancshares, Inc.
 
165,679
2,983,879
Intercontinental Exchange, Inc.
 
65,778
10,587,627
Jack Henry & Associates, Inc.
 
8,303
1,462,823
JPMorgan Chase & Co.
 
326,258
81,473,148
KeyCorp
 
106,962
2,083,620
KKR & Co., Inc., Class A
 
71,376
11,625,009
Loews Corp.
 
21,574
1,871,113
LPL Financial Holdings, Inc.
 
8,464
2,752,070
M&T Bank Corp.
 
19,226
4,229,528
Markel Group, Inc.(b)
 
1,437
2,562,056
MarketAxess Holdings, Inc.
 
4,232
1,094,776
Marsh & McLennan Cos., Inc.
 
56,390
13,151,840
Mastercard, Inc., Class A
 
94,624
50,428,915
MetLife, Inc.
 
68,263
6,022,845
Moody’s Corp.
 
18,803
9,401,124
Morgan Stanley
 
139,155
18,314,190
MSCI, Inc.
 
9,024
5,501,301
Nasdaq, Inc.
 
49,312
4,092,403
Northern Trust Corp.
 
23,446
2,606,257
PayPal Holdings, Inc.(b)
 
111,381
9,664,529
PNC Financial Services Group, Inc. (The)
 
45,674
9,807,121
Principal Financial Group, Inc.
 
26,568
2,313,807
Progressive Corp. (The)
 
67,169
18,060,401
Prudential Financial, Inc.
 
41,084
5,316,680
Raymond James Financial, Inc.
 
22,448
3,799,997
Regions Financial Corp.
 
105,642
2,879,801
Robinhood Markets, Inc., Class A(b)
 
60,170
2,258,782
S&P Global, Inc.
 
36,734
19,193,882
SEI Investments Co.
 
12,514
1,034,032
State Street Corp.
 
33,724
3,322,151
Synchrony Financial
 
45,246
3,055,010
T. Rowe Price Group, Inc.
 
25,448
3,151,480
Toast, Inc., Class A(b)(c)
 
44,929
1,956,209
Tradeweb Markets, Inc., Class A
 
13,126
1,778,573
Travelers Cos., Inc. (The)
 
26,152
6,957,478
Truist Financial Corp.
 
153,836
7,334,900
U.S. Bancorp
 
179,677
9,574,987
Visa, Inc., Class A
 
191,565
60,358,300
W.R. Berkley Corp.
 
34,921
2,254,151
Wells Fargo & Co.
 
390,317
29,730,446
Willis Towers Watson PLC
 
11,771
3,790,262
 
 
835,325,491
See accompanying notes which are an integral part of this schedule.
Invesco MSCI USA ETF (PBUS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Health Care-10.53%
Abbott Laboratories
 
199,753
$23,724,664
AbbVie, Inc.
 
202,511
37,045,337
Agilent Technologies, Inc.
 
32,943
4,545,146
Align Technology, Inc.(b)
 
8,168
1,901,265
Alnylam Pharmaceuticals, Inc.(b)
 
14,552
3,682,675
Amgen, Inc.
 
61,456
17,384,059
Avantor, Inc.(b)(c)
 
77,315
1,628,254
Baxter International, Inc.
 
58,621
1,976,114
Becton, Dickinson and Co.
 
33,167
7,359,757
Biogen, Inc.(b)
 
16,529
2,655,053
BioMarin Pharmaceutical, Inc.(b)(c)
 
21,426
1,414,759
Bio-Rad Laboratories, Inc., Class A(b)
 
2,235
761,085
Bio-Techne Corp.
 
17,668
1,331,460
Boston Scientific Corp.(b)
 
168,728
15,296,880
Bristol-Myers Squibb Co.
 
233,139
13,806,492
Cardinal Health, Inc.
 
27,878
3,407,807
Catalent, Inc.(b)
 
20,460
1,250,311
Cencora, Inc.
 
20,335
5,115,269
Centene Corp.(b)
 
60,321
3,619,260
Charles River Laboratories International,
Inc.(b)(c)
 
5,652
1,125,087
Cigna Group (The)
 
32,057
10,828,855
Cooper Cos., Inc. (The)(b)
 
22,853
2,387,224
CVS Health Corp.
 
144,286
8,635,517
Danaher Corp.
 
74,550
17,868,889
DaVita, Inc.(b)
 
5,282
877,710
DexCom, Inc.(b)
 
45,573
3,554,238
Edwards Lifesciences Corp.(b)
 
68,836
4,911,449
Elevance Health, Inc.
 
26,603
10,826,357
Eli Lilly and Co.
 
92,638
73,679,633
Exact Sciences Corp.(b)(c)
 
21,109
1,310,447
GE HealthCare Technologies, Inc.
 
52,366
4,357,899
Gilead Sciences, Inc.
 
143,119
13,249,957
HCA Healthcare, Inc.
 
22,210
7,267,556
Henry Schein, Inc.(b)
 
14,937
1,150,896
Hologic, Inc.(b)
 
27,023
2,148,328
Humana, Inc.
 
13,731
4,069,594
IDEXX Laboratories, Inc.(b)
 
9,358
3,946,736
Illumina, Inc.(b)(c)
 
18,466
2,661,874
Incyte Corp.(b)
 
18,889
1,408,931
Insulet Corp.(b)
 
7,932
2,116,099
Intuitive Surgical, Inc.(b)
 
40,664
22,039,888
IQVIA Holdings, Inc.(b)
 
20,800
4,177,472
Johnson & Johnson
 
276,289
42,827,558
Labcorp Holdings, Inc.
 
9,434
2,275,103
McKesson Corp.
 
14,879
9,351,451
Medtronic PLC
 
147,488
12,763,612
Merck & Co., Inc.
 
290,562
29,532,722
Mettler-Toledo International, Inc.(b)
 
2,461
3,079,203
Moderna, Inc.(b)
 
37,637
1,620,649
Molina Healthcare, Inc.(b)
 
6,838
2,037,040
Neurocrine Biosciences, Inc.(b)
 
11,354
1,439,120
Pfizer, Inc.
 
650,376
17,046,355
Quest Diagnostics, Inc.
 
12,598
2,049,191
Regeneron Pharmaceuticals, Inc.(b)
 
12,419
9,316,982
ResMed, Inc.
 
16,750
4,171,085
Revvity, Inc.(c)
 
14,454
1,678,688
Royalty Pharma PLC, Class A
 
43,289
1,154,085
Solventum Corp.(b)
 
16,582
1,185,779
STERIS PLC
 
11,366
2,489,836
Stryker Corp.
 
39,336
15,425,612
Teleflex, Inc.
 
5,218
1,006,291
 
Shares
Value
Health Care-(continued)
Thermo Fisher Scientific, Inc.
 
43,840
$23,218,979
United Therapeutics Corp.(b)
 
4,771
1,767,608
UnitedHealth Group, Inc.
 
105,881
64,608,586
Universal Health Services, Inc., Class B
 
7,007
1,436,435
Veeva Systems, Inc., Class A(b)
 
17,572
4,003,780
Vertex Pharmaceuticals, Inc.(b)
 
29,501
13,810,303
Viatris, Inc.
 
135,681
1,776,064
Waters Corp.(b)
 
6,912
2,659,185
West Pharmaceutical Services, Inc.
 
8,338
2,715,520
Zimmer Biomet Holdings, Inc.
 
23,584
2,643,766
Zoetis, Inc.
 
51,955
9,105,114
 
 
640,701,985
Industrials-8.89%
3M Co.
 
63,006
8,413,191
A.O. Smith Corp.
 
13,642
1,016,193
AECOM
 
15,630
1,828,241
Allegion PLC(c)
 
9,977
1,405,161
AMETEK, Inc.
 
26,578
5,166,232
Automatic Data Processing, Inc.
 
46,778
14,357,571
Axon Enterprise, Inc.(b)
 
8,250
5,337,420
Boeing Co. (The)(b)
 
83,276
12,944,421
Booz Allen Hamilton Holding Corp.
 
15,043
2,229,072
Broadridge Financial Solutions, Inc.
 
13,302
3,139,538
Builders FirstSource, Inc.(b)
 
13,344
2,488,256
C.H. Robinson Worldwide, Inc.
 
13,201
1,393,762
Carlisle Cos., Inc.
 
5,288
2,415,030
Carrier Global Corp.
 
93,237
7,213,747
Caterpillar, Inc.
 
55,610
22,583,777
Cintas Corp.
 
41,778
9,433,055
CNH Industrial N.V.(c)
 
99,982
1,255,774
Copart, Inc.(b)
 
99,132
6,283,977
CSX Corp.
 
222,312
8,125,504
Cummins, Inc.
 
15,726
5,897,879
Dayforce, Inc.(b)(c)
 
18,320
1,465,417
Deere & Co.
 
29,793
13,880,559
Delta Air Lines, Inc.
 
18,818
1,200,965
Dover Corp.
 
15,788
3,250,749
Eaton Corp. PLC
 
45,641
17,134,544
EMCOR Group, Inc.
 
5,215
2,660,276
Emerson Electric Co.
 
65,543
8,691,002
Equifax, Inc.
 
14,343
3,751,555
Expeditors International of Washington,
Inc.
 
16,199
1,970,446
Fastenal Co.
 
65,292
5,455,799
FedEx Corp.
 
26,760
8,099,449
Ferguson Enterprises, Inc.
 
23,028
4,972,436
Fortive Corp.
 
40,277
3,195,174
Fortune Brands Innovations, Inc.
 
14,613
1,144,198
GE Vernova, Inc.(b)
 
31,509
10,527,787
General Dynamics Corp.
 
26,878
7,633,621
General Electric Co.
 
124,343
22,650,321
Graco, Inc.
 
19,444
1,770,959
HEICO Corp.(c)
 
4,907
1,341,427
HEICO Corp., Class A
 
8,443
1,782,571
Honeywell International, Inc.
 
74,514
17,356,546
Howmet Aerospace, Inc.
 
44,386
5,254,415
Hubbell, Inc.
 
6,170
2,838,755
Huntington Ingalls Industries, Inc.
 
4,485
887,671
IDEX Corp.
 
8,593
1,981,804
Illinois Tool Works, Inc.
 
34,032
9,444,561
Ingersoll Rand, Inc.
 
46,572
4,851,405
J.B. Hunt Transport Services, Inc.
 
9,280
1,754,941
See accompanying notes which are an integral part of this schedule.
Invesco MSCI USA ETF (PBUS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Industrials-(continued)
Jacobs Solutions, Inc.
 
14,262
$2,014,222
Johnson Controls International PLC
 
76,601
6,423,760
Knight-Swift Transportation Holdings, Inc.
 
18,800
1,115,968
L3Harris Technologies, Inc.
 
21,731
5,351,259
Leidos Holdings, Inc.
 
14,863
2,458,340
Lennox International, Inc.(c)
 
3,709
2,474,385
Lockheed Martin Corp.
 
24,596
13,021,368
Masco Corp.
 
25,030
2,016,417
Nordson Corp.
 
6,243
1,629,361
Norfolk Southern Corp.
 
25,709
7,091,828
Northrop Grumman Corp.
 
15,933
7,801,593
Old Dominion Freight Line, Inc.
 
22,132
4,982,798
Otis Worldwide Corp.
 
45,920
4,728,842
Owens Corning
 
9,723
1,999,243
PACCAR, Inc.
 
60,163
7,039,071
Parker-Hannifin Corp.
 
14,765
10,378,318
Paychex, Inc.
 
36,994
5,411,112
Paycom Software, Inc.
 
5,659
1,312,435
Pentair PLC
 
18,964
2,066,886
Quanta Services, Inc.
 
16,685
5,748,316
Republic Services, Inc.
 
25,110
5,481,513
Rockwell Automation, Inc.
 
12,993
3,834,754
Rollins, Inc.
 
32,918
1,656,763
RTX Corp.
 
152,589
18,589,918
Snap-on, Inc.
 
6,056
2,238,843
Southwest Airlines Co.
 
16,343
528,859
SS&C Technologies Holdings, Inc.
 
25,149
1,945,024
Stanley Black & Decker, Inc.
 
17,401
1,556,519
Textron, Inc.
 
21,786
1,865,535
Toro Co. (The)(c)
 
11,888
1,035,207
Trane Technologies PLC
 
25,821
10,747,217
TransDigm Group, Inc.
 
6,446
8,076,645
TransUnion
 
22,621
2,296,031
Uber Technologies, Inc.(b)
 
216,211
15,558,544
U-Haul Holding Co., Series N(c)
 
11,138
695,457
Union Pacific Corp.
 
69,962
17,116,903
United Parcel Service, Inc., Class B
 
83,938
11,392,065
United Rentals, Inc.
 
7,587
6,570,342
Veralto Corp.
 
28,239
3,055,177
Verisk Analytics, Inc.
 
16,323
4,802,390
Vertiv Holdings Co., Class A
 
40,761
5,201,104
W.W. Grainger, Inc.
 
5,006
6,033,932
Wabtec Corp.
 
20,244
4,061,351
Waste Connections, Inc.
 
29,606
5,698,267
Waste Management, Inc.
 
45,878
10,470,277
Watsco, Inc.(c)
 
3,996
2,204,194
Xylem, Inc.
 
27,666
3,506,665
 
 
541,162,172
Information Technology-31.07%
Accenture PLC, Class A (Ireland)
 
71,659
25,967,072
Adobe, Inc.(b)
 
50,492
26,050,338
Advanced Micro Devices, Inc.(b)
 
185,441
25,437,869
Akamai Technologies, Inc.(b)
 
17,513
1,646,572
Amphenol Corp., Class A
 
137,726
10,005,794
Analog Devices, Inc.
 
56,962
12,420,564
ANSYS, Inc.(b)
 
9,754
3,424,629
Apple, Inc.
 
1,743,509
413,786,991
Applied Materials, Inc.
 
94,551
16,519,005
AppLovin Corp., Class A(b)
 
23,847
8,030,477
Arista Networks, Inc.(b)
 
30,700
12,458,674
Aspen Technology, Inc.(b)(c)
 
3,366
841,500
Atlassian Corp., Class A(b)
 
18,465
4,867,005
 
Shares
Value
Information Technology-(continued)
Autodesk, Inc.(b)
 
24,710
$7,212,849
Bentley Systems, Inc., Class B(c)
 
18,428
912,186
Broadcom, Inc.
 
508,821
82,469,708
Cadence Design Systems, Inc.(b)
 
31,361
9,621,868
CDW Corp.
 
15,403
2,709,850
Cisco Systems, Inc.
 
457,634
27,096,509
Cloudflare, Inc., Class A(b)
 
34,743
3,468,394
Cognizant Technology Solutions Corp.,
Class A
 
56,900
4,579,881
Corning, Inc.
 
93,492
4,550,256
CrowdStrike Holdings, Inc., Class A(b)
 
26,677
9,229,442
Datadog, Inc., Class A(b)
 
32,062
4,897,470
Dell Technologies, Inc., Class C
 
36,371
4,640,576
DocuSign, Inc.(b)
 
23,386
1,863,630
Dynatrace, Inc.(b)
 
32,527
1,827,692
Enphase Energy, Inc.(b)
 
15,718
1,121,479
Entegris, Inc.
 
17,060
1,802,048
EPAM Systems, Inc.(b)
 
6,540
1,595,237
F5, Inc.(b)
 
6,694
1,675,843
Fair Isaac Corp.(b)
 
2,821
6,699,960
First Solar, Inc.(b)
 
11,654
2,322,293
Fortinet, Inc.(b)
 
74,674
7,097,764
Gartner, Inc.(b)
 
8,819
4,567,625
Gen Digital, Inc.
 
64,642
1,994,206
GoDaddy, Inc., Class A(b)
 
16,187
3,198,066
Hewlett Packard Enterprise Co.
 
148,792
3,157,366
HP, Inc.
 
110,527
3,915,972
HubSpot, Inc.(b)
 
5,582
4,024,901
Intel Corp.
 
489,831
11,780,435
International Business Machines Corp.
 
105,344
23,956,279
Intuit, Inc.
 
32,087
20,591,190
Jabil, Inc.
 
12,939
1,757,504
Juniper Networks, Inc.
 
37,045
1,330,656
Keysight Technologies, Inc.(b)
 
20,089
3,432,005
KLA Corp.
 
15,369
9,944,204
Lam Research Corp.
 
148,630
10,980,784
Manhattan Associates, Inc.(b)
 
7,167
2,045,748
Marvell Technology, Inc.
 
99,294
9,203,561
Microchip Technology, Inc.
 
61,611
4,200,022
Micron Technology, Inc.
 
127,542
12,492,739
Microsoft Corp.
 
809,766
342,903,510
MicroStrategy, Inc., Class A(b)(c)
 
20,978
8,128,346
MongoDB, Inc.(b)
 
8,416
2,714,076
Monolithic Power Systems, Inc.
 
5,462
3,100,450
Motorola Solutions, Inc.
 
19,139
9,563,758
NetApp, Inc.
 
23,652
2,900,681
Nutanix, Inc., Class A(b)
 
28,887
1,885,743
NVIDIA Corp.
 
2,812,931
388,887,711
NXP Semiconductors N.V. (China)
 
29,192
6,695,769
Okta, Inc.(b)
 
18,577
1,440,832
ON Semiconductor Corp.(b)
 
49,475
3,518,662
Oracle Corp.
 
190,646
35,239,007
Palantir Technologies, Inc., Class A(b)
 
232,775
15,614,547
Palo Alto Networks, Inc.(b)
 
37,122
14,396,654
PTC, Inc.(b)
 
13,482
2,697,209
Pure Storage, Inc., Class A(b)(c)
 
35,479
1,880,032
Qorvo, Inc.(b)
 
11,238
775,984
QUALCOMM, Inc.
 
127,752
20,252,525
Roper Technologies, Inc.
 
12,301
6,967,778
Salesforce, Inc.
 
109,619
36,173,174
Samsara, Inc., Class A(b)
 
23,337
1,248,296
Seagate Technology Holdings PLC
 
24,137
2,445,802
See accompanying notes which are an integral part of this schedule.
Invesco MSCI USA ETF (PBUS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Information Technology-(continued)
ServiceNow, Inc.(b)
 
23,575
$24,740,548
Skyworks Solutions, Inc.
 
18,559
1,625,583
Snowflake, Inc., Class A(b)(c)
 
34,693
6,064,336
Super Micro Computer, Inc.(b)(c)
 
60,520
1,975,373
Synopsys, Inc.(b)
 
17,481
9,762,964
TE Connectivity PLC (Switzerland)
 
34,861
5,268,194
Teledyne Technologies, Inc.(b)
 
5,355
2,598,567
Teradyne, Inc.
 
17,780
1,955,800
Texas Instruments, Inc.
 
104,490
21,005,625
Trimble, Inc.(b)
 
27,976
2,041,409
Twilio, Inc., Class A(b)
 
17,485
1,827,882
Tyler Technologies, Inc.(b)
 
4,812
3,027,566
VeriSign, Inc.(b)
 
10,088
1,888,272
Western Digital Corp.(b)
 
39,644
2,893,616
Workday, Inc., Class A(b)
 
24,363
6,090,506
Zebra Technologies Corp., Class A(b)
 
5,659
2,303,213
Zoom Video Communications, Inc.,
Class A(b)
 
28,795
2,381,059
Zscaler, Inc.(b)(c)
 
10,533
2,176,012
 
 
1,890,481,759
Materials-2.23%
Air Products and Chemicals, Inc.
 
25,467
8,514,382
Albemarle Corp.(c)
 
13,272
1,429,394
Amcor PLC
 
165,760
1,763,686
Avery Dennison Corp.
 
9,080
1,870,026
Ball Corp.
 
34,821
2,164,473
Celanese Corp.
 
12,495
914,759
CF Industries Holdings, Inc.
 
20,903
1,874,163
Corteva, Inc.
 
79,389
4,941,171
CRH PLC
 
78,282
8,005,900
Crown Holdings, Inc.
 
13,631
1,255,279
Dow, Inc.
 
80,571
3,562,044
DuPont de Nemours, Inc.
 
47,955
4,008,559
Eastman Chemical Co.
 
13,394
1,402,620
Ecolab, Inc.
 
29,466
7,330,257
Freeport-McMoRan, Inc.
 
164,849
7,286,326
International Flavors & Fragrances, Inc.
 
29,118
2,660,221
International Paper Co.(c)
 
37,225
2,189,947
Linde PLC
 
54,768
25,247,500
LyondellBasell Industries N.V., Class A
 
29,523
2,460,447
Martin Marietta Materials, Inc.
 
7,016
4,209,600
Mosaic Co. (The)
 
36,744
972,246
Newmont Corp.
 
132,058
5,538,513
Nucor Corp.
 
27,223
4,211,126
Packaging Corp. of America
 
10,312
2,566,141
PPG Industries, Inc.
 
27,086
3,368,686
Reliance, Inc.
 
6,322
2,030,879
RPM International, Inc.
 
14,873
2,064,075
Sherwin-Williams Co. (The)
 
27,486
10,922,936
Smurfit WestRock PLC
 
60,066
3,304,831
Steel Dynamics, Inc.
 
17,070
2,479,759
Vulcan Materials Co.
 
15,290
4,405,508
Westlake Corp.
 
4,367
560,723
 
 
135,516,177
Real Estate-2.32%
Alexandria Real Estate Equities, Inc.
 
17,810
1,963,196
American Homes 4 Rent, Class A
 
37,170
1,423,239
American Tower Corp.
 
53,479
11,177,111
AvalonBay Communities, Inc.
 
16,238
3,821,613
BXP, Inc.(c)
 
16,952
1,389,894
Camden Property Trust
 
12,058
1,516,896
 
Shares
Value
Real Estate-(continued)
CBRE Group, Inc., Class A(b)
 
35,147
$4,920,229
CoStar Group, Inc.(b)
 
46,872
3,812,568
Crown Castle, Inc.
 
49,934
5,305,487
Digital Realty Trust, Inc.
 
37,195
7,278,690
Equinix, Inc.
 
10,896
10,694,206
Equity LifeStyle Properties, Inc.(c)
 
20,034
1,429,025
Equity Residential
 
39,230
3,007,372
Essex Property Trust, Inc.
 
7,421
2,303,924
Extra Space Storage, Inc.
 
24,182
4,134,155
Gaming and Leisure Properties, Inc.(c)
 
30,761
1,587,575
Healthpeak Properties, Inc.
 
80,980
1,780,750
Host Hotels & Resorts, Inc.
 
80,414
1,481,226
Invitation Homes, Inc.
 
66,747
2,286,085
Iron Mountain, Inc.
 
33,280
4,115,738
Kimco Realty Corp.
 
77,082
1,970,987
Mid-America Apartment Communities, Inc.
 
13,224
2,170,852
Prologis, Inc.
 
106,104
12,390,825
Public Storage
 
18,048
6,281,606
Realty Income Corp.
 
100,113
5,795,542
Regency Centers Corp.
 
20,079
1,517,772
SBA Communications Corp., Class A
 
12,279
2,778,124
Simon Property Group, Inc.
 
37,213
6,832,307
Sun Communities, Inc.
 
14,447
1,825,090
UDR, Inc.
 
35,705
1,637,431
Ventas, Inc.(c)
 
46,560
2,983,099
VICI Properties, Inc.
 
120,408
3,926,505
W.P. Carey, Inc.(c)
 
24,927
1,422,335
Welltower, Inc.
 
70,935
9,801,798
Weyerhaeuser Co.
 
83,401
2,690,516
Zillow Group, Inc., Class C(b)(c)
 
17,518
1,483,950
 
 
140,937,718
Utilities-2.36%
AES Corp. (The)
 
81,322
1,060,439
Alliant Energy Corp.
 
29,150
1,842,280
Ameren Corp.
 
30,564
2,884,936
American Electric Power Co., Inc.
 
60,718
6,063,299
American Water Works Co., Inc.
 
22,510
3,082,519
Atmos Energy Corp.(c)
 
17,128
2,591,809
CenterPoint Energy, Inc.
 
72,296
2,358,296
CMS Energy Corp.
 
34,478
2,403,461
Consolidated Edison, Inc.
 
39,552
3,978,536
Constellation Energy Corp.
 
35,859
9,199,985
Dominion Energy, Inc.
 
95,888
5,633,420
DTE Energy Co.
 
23,620
2,970,924
Duke Energy Corp.
 
88,719
10,384,559
Edison International
 
43,992
3,860,298
Entergy Corp.
 
24,396
3,809,923
Essential Utilities, Inc.
 
29,538
1,182,406
Evergy, Inc.
 
26,521
1,714,052
Eversource Energy
 
40,024
2,581,148
Exelon Corp.
 
115,510
4,569,576
FirstEnergy Corp.
 
62,626
2,664,736
NextEra Energy, Inc.
 
235,895
18,557,860
NiSource, Inc.
 
51,339
1,955,502
NRG Energy, Inc.
 
23,941
2,432,645
PG&E Corp.
 
232,333
5,025,363
PPL Corp.
 
84,420
2,948,791
Public Service Enterprise Group, Inc.
 
56,982
5,373,403
Sempra
 
72,435
6,784,986
Southern Co. (The)
 
125,571
11,192,143
Vistra Corp.
 
39,403
6,298,175
See accompanying notes which are an integral part of this schedule.
Invesco MSCI USA ETF (PBUS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
WEC Energy Group, Inc.
 
36,153
$3,653,261
Xcel Energy, Inc.
 
63,745
4,625,337
 
 
143,684,068
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.94%
(Cost $4,755,041,476)
6,080,737,296
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-1.16%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
19,810,621
19,810,621
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
50,879,481
$50,894,745
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $70,706,207)
70,705,366
TOTAL INVESTMENTS IN SECURITIES-101.10%
(Cost $4,825,747,683)
6,151,442,662
OTHER ASSETS LESS LIABILITIES-(1.10)%
(67,109,335
)
NET ASSETS-100.00%
$6,084,333,327
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$19,368,516
$(19,368,516
)
$-
$-
$-
$17,234
Investments Purchased
with Cash Collateral
from Securities on Loan:
Invesco Private
Government Fund
19,682,463
81,879,899
(81,751,741
)
-
-
19,810,621
305,697
*
Invesco Private Prime
Fund
48,906,162
137,876,045
(135,880,240
)
(3,433
)
(3,789
)
50,894,745
810,275
*
Total
$68,588,625
$239,124,460
$(237,000,497
)
$(3,433
)
$(3,789
)
$70,705,366
$1,133,206
 
*
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 November 30, 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 Russell 1000 Equal Weight ETF (EQAL)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-7.07%
Alphabet, Inc., Class A
 
2,529
$427,275
AT&T, Inc.
 
149,838
3,470,248
Charter Communications, Inc., Class A(b)(c)
 
9,527
3,781,886
Comcast Corp., Class A
 
81,949
3,539,377
Electronic Arts, Inc.
 
2,250
368,258
Fox Corp., Class A(c)
 
9,022
425,117
Frontier Communications Parent, Inc.(b)
 
90,956
3,166,178
IAC, Inc.(b)
 
7,993
378,309
Interpublic Group of Cos., Inc. (The)
 
10,573
325,754
Iridium Communications, Inc.(c)
 
123,174
3,660,731
Liberty Broadband Corp.(b)(d)
 
22,093
0
Liberty Broadband Corp., Class C(b)(c)
 
52,664
4,483,813
Liberty Global Ltd., Class C (Belgium)(b)(c)
 
161,614
2,362,797
Liberty Media Corp.-Liberty Formula One(b)
 
4,283
378,446
Liberty Media Corp.-Liberty Live, Series C(b)
 
8,573
626,000
Live Nation Entertainment, Inc.(b)
 
3,357
464,105
Madison Square Garden Sports Corp.,
Class A(b)
 
1,654
380,337
Match Group, Inc.(b)
 
11,178
365,968
Meta Platforms, Inc., Class A
 
744
427,294
Netflix, Inc.(b)
 
492
436,311
New York Times Co. (The), Class A
 
6,185
335,598
News Corp., Class A
 
13,131
385,395
Nexstar Media Group, Inc., Class A
 
1,994
340,156
Omnicom Group, Inc.
 
3,453
361,943
Paramount Global, Class B
 
30,809
334,278
Pinterest, Inc., Class A(b)
 
13,343
404,560
Playtika Holding Corp.(c)
 
44,050
370,901
Roblox Corp., Class A(b)
 
7,169
359,382
Roku, Inc., Class A(b)(c)
 
43,609
3,010,329
Sirius XM Holdings, Inc.(c)
 
12,756
343,774
Spotify Technology S.A. (Sweden)(b)
 
987
470,760
Take-Two Interactive Software, Inc.(b)
 
2,215
417,262
TKO Group Holdings, Inc.(b)(c)
 
2,941
405,740
T-Mobile US, Inc.
 
15,979
3,945,854
Trade Desk, Inc. (The), Class A(b)
 
3,187
409,689
TripAdvisor, Inc.(b)
 
24,422
349,967
Trump Media & Technology Group Corp.(b)(c)
 
24,327
768,733
Verizon Communications, Inc.
 
73,701
3,267,902
Walt Disney Co. (The)
 
3,645
428,178
Warner Bros. Discovery, Inc.(b)
 
44,024
461,372
ZoomInfo Technologies, Inc., Class A(b)(c)
 
38,270
418,674
 
 
47,058,651
Consumer Discretionary-7.04%
ADT, Inc.
 
43,966
335,021
Advance Auto Parts, Inc.(c)
 
8,245
340,931
Airbnb, Inc., Class A(b)
 
2,772
377,297
Amazon.com, Inc.(b)
 
1,831
380,647
Amer Sports, Inc. (Finland)(b)(c)
 
23,809
626,891
Aptiv PLC(b)
 
4,856
269,654
Aramark
 
9,205
374,551
AutoNation, Inc.(b)
 
2,117
378,710
AutoZone, Inc.(b)
 
104
329,632
Bath & Body Works, Inc.
 
11,940
432,706
Best Buy Co., Inc.
 
3,354
301,860
Birkenstock Holding PLC (Germany)(b)(c)
 
7,013
362,292
Booking Holdings, Inc.
 
86
447,370
BorgWarner, Inc.
 
10,180
349,378
Boyd Gaming Corp.(c)
 
5,426
400,710
Bright Horizons Family Solutions, Inc.(b)(c)
 
2,325
268,840
Brunswick Corp.(c)
 
3,717
299,256
 
Shares
Value
Consumer Discretionary-(continued)
Burlington Stores, Inc.(b)
 
1,181
$332,900
Caesars Entertainment, Inc.(b)
 
8,909
342,907
Capri Holdings Ltd.(b)
 
8,291
194,092
CarMax, Inc.(b)
 
4,345
364,850
Carnival Corp.(b)
 
19,297
490,723
Carter’s, Inc.(c)
 
4,793
261,554
Carvana Co.(b)(c)
 
2,319
603,914
Cava Group, Inc.(b)
 
2,594
365,495
Chipotle Mexican Grill, Inc.(b)
 
5,775
355,278
Choice Hotels International, Inc.(c)
 
2,786
421,355
Churchill Downs, Inc.
 
2,249
319,605
Columbia Sportswear Co.(c)
 
4,179
364,576
Coupang, Inc. (South Korea)(b)(c)
 
14,744
373,908
Crocs, Inc.(b)(c)
 
2,549
269,174
D.R. Horton, Inc.
 
1,722
290,639
Darden Restaurants, Inc.
 
2,009
354,126
Deckers Outdoor Corp.(b)
 
2,124
416,219
Dick’s Sporting Goods, Inc.
 
1,545
320,186
Dillard’s, Inc., Class A
 
980
434,258
Domino’s Pizza, Inc.
 
804
382,857
DoorDash, Inc., Class A(b)
 
3,005
542,342
DraftKings, Inc., Class A(b)(c)
 
8,433
368,100
Duolingo, Inc.(b)
 
1,423
495,588
Dutch Bros, Inc., Class A(b)
 
9,581
514,787
eBay, Inc.
 
5,152
326,070
Etsy, Inc.(b)
 
6,290
345,069
Expedia Group, Inc.(b)
 
2,469
455,827
Five Below, Inc.(b)
 
3,519
326,211
Floor & Decor Holdings, Inc., Class A(b)
 
2,976
333,937
Ford Motor Co.
 
30,653
341,168
GameStop Corp., Class A(b)(c)
 
15,956
463,522
Gap, Inc. (The)
 
15,849
384,338
Garmin Ltd.
 
1,937
411,806
General Motors Co.
 
7,059
392,410
Gentex Corp.(c)
 
11,299
345,297
Genuine Parts Co.
 
2,479
314,164
Grand Canyon Education, Inc.(b)
 
2,332
383,824
H&R Block, Inc.(c)
 
5,185
307,367
Harley-Davidson, Inc.(c)
 
9,322
313,499
Hasbro, Inc.
 
5,113
333,112
Hilton Worldwide Holdings, Inc.
 
1,573
398,661
Home Depot, Inc. (The)
 
876
375,918
Hyatt Hotels Corp., Class A
 
2,327
367,526
Kohl’s Corp.
 
16,730
250,448
Las Vegas Sands Corp.(c)
 
8,259
438,223
Lear Corp.
 
3,129
306,141
Leggett & Platt, Inc.(c)
 
28,614
360,250
Lennar Corp., Class A
 
1,792
312,507
Light & Wonder, Inc.(b)
 
3,119
296,430
Lithia Motors, Inc., Class A
 
1,249
483,238
LKQ Corp.
 
8,202
322,257
Lowe’s Cos., Inc.
 
1,361
370,777
Lucid Group, Inc.(b)(c)
 
83,252
181,489
lululemon athletica, inc.(b)
 
1,249
400,504
Macy’s, Inc.
 
22,158
359,846
Marriott International, Inc., Class A
 
1,412
408,195
Marriott Vacations Worldwide Corp.
 
4,561
452,679
Mattel, Inc.(b)(c)
 
18,115
344,547
McDonald’s Corp.
 
1,113
329,459
MGM Resorts International(b)(c)
 
9,069
347,705
Mohawk Industries, Inc.(b)
 
1,928
267,664
Murphy USA, Inc.
 
645
353,331
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Consumer Discretionary-(continued)
Newell Brands, Inc.
 
47,462
$455,161
NIKE, Inc., Class B
 
4,152
327,053
Nordstrom, Inc.
 
14,616
331,929
Norwegian Cruise Line Holdings Ltd.(b)
 
18,041
485,123
NVR, Inc.(b)
 
35
323,245
Ollie’s Bargain Outlet Holdings, Inc.(b)(c)
 
3,172
313,869
O’Reilly Automotive, Inc.(b)
 
286
355,561
PENN Entertainment, Inc.(b)(c)
 
17,732
382,834
Penske Automotive Group, Inc.
 
2,289
381,210
Planet Fitness, Inc., Class A(b)(c)
 
4,245
422,590
Polaris, Inc.
 
4,005
276,345
Pool Corp.
 
929
350,317
PulteGroup, Inc.
 
2,407
325,595
PVH Corp.
 
3,473
376,369
QuantumScape Corp.(b)(c)
 
56,122
293,518
Ralph Lauren Corp.
 
1,858
429,941
RH(b)
 
1,267
487,972
Rivian Automotive, Inc., Class A(b)(c)
 
23,725
290,157
Ross Stores, Inc.
 
2,103
325,692
Royal Caribbean Cruises Ltd.
 
2,063
503,496
Service Corp. International(c)
 
4,305
381,380
SharkNinja, Inc.(c)
 
3,196
321,358
Skechers U.S.A., Inc., Class A(b)
 
4,908
313,229
Starbucks Corp.
 
3,277
335,761
Tapestry, Inc.
 
8,018
499,361
Tempur Sealy International, Inc.
 
6,975
390,461
Tesla, Inc.(b)
 
1,418
489,437
Texas Roadhouse, Inc.
 
2,012
413,003
Thor Industries, Inc.(c)
 
3,417
381,337
TJX Cos., Inc. (The)
 
2,809
353,063
Toll Brothers, Inc.
 
2,245
370,807
TopBuild Corp.(b)
 
784
306,262
Tractor Supply Co.(c)
 
1,228
348,347
Travel + Leisure Co.
 
7,697
430,031
Ulta Beauty, Inc.(b)
 
911
352,229
Under Armour, Inc., Class A(b)(c)
 
44,338
430,522
V.F. Corp.(c)
 
18,883
382,003
Vail Resorts, Inc.(c)
 
1,915
343,245
Valvoline, Inc.(b)(c)
 
8,119
322,405
Wayfair, Inc., Class A(b)(c)
 
7,268
336,072
Wendy’s Co. (The)
 
18,875
346,545
Whirlpool Corp.
 
3,458
385,290
Williams-Sonoma, Inc.(c)
 
2,398
412,504
Wingstop, Inc.
 
866
284,715
Wyndham Hotels & Resorts, Inc.
 
4,242
416,480
Wynn Resorts Ltd.
 
4,267
402,719
YETI Holdings, Inc.(b)(c)
 
8,586
346,617
Yum! Brands, Inc.
 
2,556
355,131
 
 
46,848,886
Consumer Staples-8.30%
Albertson’s Cos., Inc., Class A
 
52,983
1,051,713
Altria Group, Inc.
 
19,123
1,104,162
Archer-Daniels-Midland Co.
 
16,886
921,976
BellRing Brands, Inc.(b)
 
17,376
1,363,321
BJ’s Wholesale Club Holdings, Inc.(b)
 
4,032
388,282
Boston Beer Co., Inc. (The), Class A(b)
 
3,730
1,179,575
Brown-Forman Corp., Class B(c)
 
22,132
931,315
Bunge Global S.A.
 
10,438
936,706
Casey’s General Stores, Inc.
 
2,686
1,130,511
Celsius Holdings, Inc.(b)(c)
 
30,569
869,688
Church & Dwight Co., Inc.
 
9,722
1,070,684
Clorox Co. (The)
 
6,103
1,020,239
 
Shares
Value
Consumer Staples-(continued)
Coca-Cola Co. (The)
 
14,135
$905,771
Coca-Cola Consolidated, Inc.
 
794
1,035,606
Colgate-Palmolive Co.
 
9,465
914,603
Conagra Brands, Inc.
 
31,708
873,555
Constellation Brands, Inc., Class A
 
4,000
963,800
Costco Wholesale Corp.
 
358
347,933
Coty, Inc., Class A(b)(c)
 
36,493
269,683
Darling Ingredients, Inc.(b)
 
29,905
1,212,050
Dollar General Corp.
 
3,914
302,435
Dollar Tree, Inc.(b)
 
4,793
341,597
e.l.f. Beauty, Inc.(b)(c)
 
2,841
367,966
Estee Lauder Cos., Inc. (The), Class A
 
3,868
278,960
Flowers Foods, Inc.
 
44,020
995,732
Freshpet, Inc.(b)
 
7,144
1,093,389
General Mills, Inc.
 
13,789
913,659
Grocery Outlet Holding Corp.(b)(c)
 
61,877
1,299,417
Hershey Co. (The)(c)
 
5,073
893,507
Hormel Foods Corp.
 
32,586
1,056,764
Ingredion, Inc.
 
7,466
1,100,040
J.M. Smucker Co. (The)
 
8,738
1,029,249
Kellanova
 
12,541
1,019,458
Kenvue, Inc.
 
43,618
1,050,321
Keurig Dr Pepper, Inc.
 
27,172
887,166
Kimberly-Clark Corp.
 
7,072
985,483
Kraft Heinz Co. (The)
 
29,366
938,831
Kroger Co. (The)
 
18,240
1,114,099
Lamb Weston Holdings, Inc.
 
15,763
1,217,534
Maplebear, Inc.(b)(c)
 
11,256
491,550
McCormick & Co., Inc.
 
12,106
949,231
Molson Coors Beverage Co., Class B
 
18,931
1,174,858
Mondelez International, Inc., Class A
 
13,533
878,968
Monster Beverage Corp.(b)
 
20,465
1,128,235
PepsiCo, Inc.
 
5,751
940,001
Performance Food Group Co.(b)
 
13,789
1,216,741
Philip Morris International, Inc.
 
8,078
1,074,859
Pilgrim’s Pride Corp.(b)(c)
 
24,395
1,259,026
Post Holdings, Inc.(b)
 
8,798
1,059,983
Procter & Gamble Co. (The)
 
5,915
1,060,323
Reynolds Consumer Products, Inc.
 
31,629
875,807
Seaboard Corp.(c)
 
324
846,930
Spectrum Brands Holdings, Inc.
 
11,152
1,025,426
Sysco Corp.
 
13,174
1,015,847
Target Corp.
 
2,162
286,054
The Campbell’s Company
 
20,221
934,210
Tyson Foods, Inc., Class A
 
16,322
1,052,769
US Foods Holding Corp.(b)
 
17,002
1,186,230
Walgreens Boots Alliance, Inc.(c)
 
113,881
1,027,207
Walmart, Inc.
 
4,087
378,048
 
 
55,239,083
Energy-9.13%
Antero Midstream Corp.
 
86,651
1,383,816
Antero Resources Corp.(b)
 
47,583
1,555,488
APA Corp.
 
53,343
1,208,219
Baker Hughes Co., Class A
 
37,976
1,669,045
Cheniere Energy, Inc.
 
7,135
1,598,311
Chevron Corp.
 
9,083
1,470,810
Chord Energy Corp.
 
9,528
1,215,011
Civitas Resources, Inc.
 
24,085
1,249,530
ConocoPhillips
 
24,694
2,675,348
Coterra Energy, Inc.
 
55,497
1,482,880
Devon Energy Corp.
 
31,600
1,199,220
Diamondback Energy, Inc.
 
7,397
1,313,633
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Energy-(continued)
DT Midstream, Inc.
 
17,030
$1,807,224
EOG Resources, Inc.
 
10,695
1,425,216
EQT Corp.
 
38,473
1,748,213
Expand Energy Corp.
 
35,516
3,514,663
Exxon Mobil Corp.
 
11,365
1,340,615
Halliburton Co.
 
45,119
1,437,491
Hess Corp.
 
9,903
1,457,524
HF Sinclair Corp.
 
28,585
1,169,984
Kinder Morgan, Inc.
 
61,635
1,742,421
Marathon Petroleum Corp.
 
7,827
1,222,186
Matador Resources Co.
 
25,460
1,527,855
New Fortress Energy, Inc.(c)
 
115,879
1,236,429
NOV, Inc.
 
79,015
1,265,820
Occidental Petroleum Corp.
 
24,792
1,253,979
ONEOK, Inc.
 
13,968
1,586,765
Ovintiv, Inc.
 
32,611
1,481,192
Permian Resources Corp.
 
96,065
1,504,378
Phillips 66
 
10,058
1,347,571
Range Resources Corp.(c)
 
43,609
1,558,586
Schlumberger N.V.
 
31,765
1,395,754
Targa Resources Corp.
 
8,765
1,790,689
TechnipFMC PLC (United Kingdom)
 
52,853
1,657,999
Texas Pacific Land Corp.(c)
 
1,606
2,569,745
Valero Energy Corp.
 
9,424
1,310,690
Viper Energy, Inc.(c)
 
29,164
1,578,064
Weatherford International PLC
 
14,030
1,154,669
Williams Cos., Inc. (The)
 
28,040
1,640,901
 
 
60,747,934
Financials-10.85%
Affiliated Managers Group, Inc.
 
2,416
453,097
Affirm Holdings, Inc.(b)
 
6,930
485,169
Aflac, Inc.
 
3,648
415,872
AGNC Investment Corp.
 
38,310
370,075
Allstate Corp. (The)
 
2,116
438,837
Ally Financial, Inc.
 
11,990
479,360
American Express Co.
 
1,191
362,874
American Financial Group, Inc.
 
2,930
430,300
American International Group, Inc.
 
5,598
430,374
Ameriprise Financial, Inc.
 
938
538,384
Annaly Capital Management, Inc.
 
20,305
404,679
Aon PLC, Class A
 
1,130
442,440
Apollo Global Management, Inc.
 
3,506
613,655
Arch Capital Group Ltd.(b)
 
3,661
368,736
Ares Management Corp., Class A
 
2,788
492,723
Arthur J. Gallagher & Co.
 
1,416
442,132
Assurant, Inc.
 
2,059
467,599
Assured Guaranty Ltd.
 
5,256
490,280
AXIS Capital Holdings Ltd.
 
5,236
487,157
Bank of America Corp.
 
10,159
482,654
Bank of New York Mellon Corp. (The)
 
5,707
467,232
Bank OZK
 
10,275
513,442
Berkshire Hathaway, Inc., Class B(b)
 
916
442,446
BlackRock, Inc.
 
446
456,169
Blackstone, Inc., Class A
 
2,688
513,650
Block, Inc., Class A(b)
 
4,749
420,524
Blue Owl Capital, Inc.
 
22,931
544,153
BOK Financial Corp.(c)
 
3,902
463,831
Brighthouse Financial, Inc.(b)(c)
 
9,609
502,262
Brown & Brown, Inc.
 
4,037
456,585
Capital One Financial Corp.
 
2,200
422,422
Carlyle Group, Inc. (The)
 
10,162
540,923
Cboe Global Markets, Inc.
 
1,880
405,798
 
Shares
Value
Financials-(continued)
Charles Schwab Corp. (The)
 
6,378
$527,843
Chubb Ltd.
 
1,407
406,243
Cincinnati Financial Corp.
 
2,917
466,224
Citigroup, Inc.
 
6,869
486,806
Citizens Financial Group, Inc.
 
9,919
477,501
CME Group, Inc., Class A
 
1,889
449,582
CNA Financial Corp.
 
8,407
424,049
Coinbase Global, Inc., Class A(b)
 
2,420
716,804
Columbia Banking System, Inc.
 
16,729
518,766
Comerica, Inc.
 
6,949
502,065
Commerce Bancshares, Inc.
 
6,475
477,531
Corebridge Financial, Inc.
 
14,320
463,538
Corpay, Inc.(b)
 
946
360,596
Credit Acceptance Corp.(b)(c)
 
936
465,847
Cullen/Frost Bankers, Inc.
 
3,813
536,184
Discover Financial Services
 
3,147
574,107
East West Bancorp, Inc.
 
5,274
578,452
Equitable Holdings, Inc.
 
10,023
483,409
Euronet Worldwide, Inc.(b)(c)
 
2,984
313,708
Evercore, Inc., Class A
 
1,677
516,348
Everest Group Ltd.
 
1,071
415,077
F.N.B. Corp.
 
28,874
495,189
FactSet Research Systems, Inc.
 
918
450,435
Fidelity National Financial, Inc.
 
6,640
420,910
Fidelity National Information Services, Inc.
 
3,581
305,459
Fifth Third Bancorp
 
9,570
459,934
First American Financial Corp.
 
6,066
425,530
First Citizens BancShares, Inc., Class A
 
214
491,130
First Hawaiian, Inc.
 
17,385
480,000
First Horizon Corp.
 
25,672
542,449
Fiserv, Inc.(b)
 
1,657
366,131
Franklin Resources, Inc.
 
20,027
455,815
Global Payments, Inc.
 
2,644
314,530
Globe Life, Inc.
 
3,854
428,719
Goldman Sachs Group, Inc. (The)
 
818
497,810
Hanover Insurance Group, Inc. (The)
 
2,702
445,857
Hartford Financial Services Group, Inc. (The)
 
3,617
446,012
Houlihan Lokey, Inc.
 
2,601
491,823
Huntington Bancshares, Inc.
 
27,741
499,615
Interactive Brokers Group, Inc., Class A
 
3,280
626,775
Intercontinental Exchange, Inc.
 
2,446
393,708
Invesco Ltd.(e)
 
25,088
453,842
Jack Henry & Associates, Inc.
 
1,651
290,873
Janus Henderson Group PLC
 
11,092
502,246
Jefferies Financial Group, Inc.
 
6,842
541,476
JPMorgan Chase & Co.
 
1,887
471,222
Kemper Corp.
 
6,835
488,634
KeyCorp
 
24,469
476,656
Kinsale Capital Group, Inc.
 
863
438,784
KKR & Co., Inc., Class A
 
3,407
554,898
Lazard, Inc.
 
8,547
496,324
Lincoln National Corp.
 
13,444
477,800
Loews Corp.
 
5,258
456,026
LPL Financial Holdings, Inc.
 
1,905
619,411
M&T Bank Corp.
 
2,380
523,576
Markel Group, Inc.(b)(c)
 
269
479,605
MarketAxess Holdings, Inc.
 
1,536
397,348
Marsh & McLennan Cos., Inc.
 
1,746
407,220
Mastercard, Inc., Class A
 
615
327,758
MetLife, Inc.
 
5,287
466,472
MGIC Investment Corp.
 
16,006
420,318
Moody’s Corp.
 
825
412,484
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Financials-(continued)
Morgan Stanley
 
4,204
$553,288
Morningstar, Inc.
 
1,299
460,041
MSCI, Inc.
 
702
427,960
Nasdaq, Inc.
 
5,430
450,636
Northern Trust Corp.
 
4,565
507,445
NU Holdings Ltd., Class A (Brazil)(b)
 
27,149
340,177
Old Republic International Corp.
 
11,404
444,414
OneMain Holdings, Inc.(c)
 
8,873
508,867
PayPal Holdings, Inc.(b)
 
4,110
356,625
Pinnacle Financial Partners, Inc.
 
4,273
543,141
PNC Financial Services Group, Inc. (The)
 
2,216
475,820
Popular, Inc.
 
4,074
404,793
Primerica, Inc.
 
1,558
471,685
Principal Financial Group, Inc.
 
5,123
446,162
Progressive Corp. (The)
 
1,579
424,562
Prosperity Bancshares, Inc.
 
5,513
461,603
Prudential Financial, Inc.
 
3,544
458,629
Raymond James Financial, Inc.
 
3,327
563,195
Regions Financial Corp.
 
17,963
489,671
Reinsurance Group of America, Inc.
 
1,934
441,726
RenaissanceRe Holdings Ltd. (Bermuda)
 
1,612
461,274
Rithm Capital Corp.(c)
 
33,728
379,440
RLI Corp.
 
2,634
463,321
Robinhood Markets, Inc., Class A(b)
 
18,888
709,056
Rocket Cos., Inc., Class A(b)(c)
 
21,010
305,275
Ryan Specialty Holdings, Inc., Class A
 
6,197
467,254
S&P Global, Inc.
 
755
394,495
SEI Investments Co.
 
6,116
505,365
Shift4 Payments, Inc., Class A(b)(c)
 
3,877
442,288
SLM Corp.
 
19,126
523,670
SoFi Technologies, Inc.(b)(c)
 
52,806
866,546
Starwood Property Trust, Inc.(c)
 
19,393
395,035
State Street Corp.
 
4,769
469,794
Stifel Financial Corp.
 
4,607
533,491
Synchrony Financial
 
6,095
411,534
Synovus Financial Corp.(c)
 
9,017
514,600
T. Rowe Price Group, Inc.
 
3,755
465,019
TFS Financial Corp.
 
30,346
429,092
Toast, Inc., Class A(b)(c)
 
15,421
671,430
TPG, Inc.(c)
 
7,301
510,778
Tradeweb Markets, Inc., Class A
 
3,543
480,076
Travelers Cos., Inc. (The)
 
1,771
471,157
Truist Financial Corp.
 
9,460
451,053
U.S. Bancorp
 
9,547
508,760
Unum Group
 
7,234
556,295
UWM Holdings Corp.
 
44,162
287,495
Virtu Financial, Inc., Class A
 
12,636
471,449
Visa, Inc., Class A
 
989
311,614
Voya Financial, Inc.
 
5,145
427,035
W.R. Berkley Corp.
 
6,988
451,075
Webster Financial Corp.
 
9,168
566,399
Wells Fargo & Co.
 
7,639
581,863
Western Alliance Bancorporation
 
5,016
469,548
Western Union Co. (The)
 
25,757
283,585
WEX, Inc.(b)(c)
 
1,612
304,120
White Mountains Insurance Group Ltd.(c)
 
227
456,268
Willis Towers Watson PLC
 
1,442
464,324
Wintrust Financial Corp.
 
4,001
552,178
XP, Inc., Class A (Brazil)
 
20,859
282,431
Zions Bancorporation N.A.
 
9,075
549,219
 
 
72,222,459
 
Shares
Value
Health Care-8.64%
10X Genomics, Inc., Class A(b)(c)
 
22,531
$358,243
Abbott Laboratories
 
4,539
539,097
AbbVie, Inc.
 
2,618
478,911
Acadia Healthcare Co., Inc.(b)(c)
 
6,568
266,858
Agilent Technologies, Inc.
 
3,880
535,324
Align Technology, Inc.(b)
 
2,218
516,284
Alnylam Pharmaceuticals, Inc.(b)
 
1,942
491,462
Amedisys, Inc.(b)
 
5,282
482,828
Amgen, Inc.
 
1,561
441,560
Apellis Pharmaceuticals, Inc.(b)(c)
 
13,814
468,709
Avantor, Inc.(b)
 
19,184
404,015
Azenta, Inc.(b)(c)
 
10,828
500,362
Baxter International, Inc.
 
12,901
434,893
Becton, Dickinson and Co.
 
2,156
478,416
Biogen, Inc.(b)
 
2,567
412,337
BioMarin Pharmaceutical, Inc.(b)
 
6,259
413,282
Bio-Rad Laboratories, Inc., Class A(b)
 
1,578
537,356
Bio-Techne Corp.
 
6,943
523,224
Boston Scientific Corp.(b)
 
6,283
569,617
Bristol-Myers Squibb Co.
 
10,534
623,823
Bristol-Myers Squibb Co., Rts., expiring
01/23/2031(b)(c)
 
7,730
5,411
Bruker Corp.
 
7,847
454,734
Cardinal Health, Inc.
 
4,635
566,582
Catalent, Inc.(b)
 
8,825
539,296
Cencora, Inc.
 
4,235
1,065,314
Centene Corp.(b)
 
6,789
407,340
Certara, Inc.(b)(c)
 
47,392
531,264
Charles River Laboratories International,
Inc.(b)(c)
 
2,614
520,343
Chemed Corp.
 
906
518,585
Cigna Group (The)
 
1,431
483,392
Cooper Cos., Inc. (The)(b)
 
4,667
487,515
CVS Health Corp.
 
17,498
1,047,255
Danaher Corp.
 
1,946
466,437
DaVita, Inc.(b)
 
3,221
535,234
DENTSPLY SIRONA, Inc.
 
20,767
408,072
DexCom, Inc.(b)
 
7,381
575,644
Doximity, Inc., Class A(b)(c)
 
13,293
704,529
Edwards Lifesciences Corp.(b)
 
7,460
532,271
Elanco Animal Health, Inc.(b)
 
35,307
466,405
Elevance Health, Inc.
 
979
398,414
Eli Lilly and Co.
 
546
434,261
Encompass Health Corp.
 
5,726
589,434
Enovis Corp.(b)(c)
 
11,742
573,127
Envista Holdings Corp.(b)(c)
 
28,123
626,862
Exact Sciences Corp.(b)(c)
 
7,541
468,145
Exelixis, Inc.(b)
 
19,312
704,115
Fortrea Holdings, Inc.(b)(c)
 
24,651
518,904
GE HealthCare Technologies, Inc.
 
6,089
506,727
Gilead Sciences, Inc.
 
6,110
565,664
Globus Medical, Inc., Class A(b)
 
7,220
618,104
GRAIL, Inc.(b)(c)
 
37,495
656,162
HCA Healthcare, Inc.
 
1,300
425,386
Henry Schein, Inc.(b)
 
7,692
592,669
Hologic, Inc.(b)
 
6,316
502,122
Humana, Inc.
 
1,565
463,835
IDEXX Laboratories, Inc.(b)
 
1,061
447,477
Illumina, Inc.(b)(c)
 
4,025
580,204
Incyte Corp.(b)
 
8,233
614,099
Inspire Medical Systems, Inc.(b)(c)
 
2,495
480,936
Insulet Corp.(b)
 
2,203
587,716
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Health Care-(continued)
Intra-Cellular Therapies, Inc.(b)
 
6,891
$590,214
Intuitive Surgical, Inc.(b)
 
1,028
557,176
Ionis Pharmaceuticals, Inc.(b)(c)
 
12,807
457,594
IQVIA Holdings, Inc.(b)
 
2,130
427,789
Jazz Pharmaceuticals PLC(b)(c)
 
4,771
580,106
Johnson & Johnson
 
3,086
478,361
Labcorp Holdings, Inc.
 
2,331
562,144
Masimo Corp.(b)(c)
 
4,497
775,912
McKesson Corp.
 
1,970
1,238,145
Medpace Holdings, Inc.(b)
 
1,473
501,748
Medtronic PLC
 
5,645
488,518
Merck & Co., Inc.
 
4,410
448,232
Mettler-Toledo International, Inc.(b)
 
208
260,250
Moderna, Inc.(b)
 
7,290
313,907
Molina Healthcare, Inc.(b)
 
1,440
428,976
Natera, Inc.(b)
 
4,061
681,355
Neurocrine Biosciences, Inc.(b)
 
4,188
530,829
Organon & Co.
 
25,041
397,401
Penumbra, Inc.(b)(c)
 
2,540
620,065
Perrigo Co. PLC
 
18,888
539,064
Pfizer, Inc.
 
17,449
457,338
Premier, Inc., Class A
 
26,490
606,621
Qiagen N.V.(b)
 
11,546
501,443
Quest Diagnostics, Inc.
 
3,281
533,687
QuidelOrtho Corp.(b)
 
11,340
464,940
Regeneron Pharmaceuticals, Inc.(b)
 
437
327,846
Repligen Corp.(b)(c)
 
3,580
538,933
ResMed, Inc.
 
2,027
504,764
Revvity, Inc.(c)
 
4,227
490,924
Roivant Sciences Ltd.(b)(c)
 
41,920
532,803
Royalty Pharma PLC, Class A
 
18,166
484,306
Sarepta Therapeutics, Inc.(b)(c)
 
4,213
561,761
Solventum Corp.(b)
 
7,399
529,102
Sotera Health Co.(b)
 
30,828
406,005
STERIS PLC
 
2,061
451,483
Stryker Corp.
 
1,416
555,284
Teleflex, Inc.
 
2,093
403,635
Tenet Healthcare Corp.(b)
 
3,214
458,574
Thermo Fisher Scientific, Inc.
 
867
459,189
Ultragenyx Pharmaceutical, Inc.(b)
 
8,785
418,430
United Therapeutics Corp.(b)
 
1,566
580,187
UnitedHealth Group, Inc.
 
865
527,823
Universal Health Services, Inc., Class B
 
2,195
449,975
Veeva Systems, Inc., Class A(b)
 
2,312
526,789
Vertex Pharmaceuticals, Inc.(b)
 
1,098
514,007
Viatris, Inc.
 
43,237
565,972
Viking Therapeutics, Inc.(b)(c)
 
8,090
428,285
Waters Corp.(b)
 
1,577
606,703
West Pharmaceutical Services, Inc.
 
1,706
555,610
Zimmer Biomet Holdings, Inc.
 
4,830
541,443
Zoetis, Inc.
 
2,663
466,691
 
 
57,474,926
Industrials-9.94%
3M Co.
 
2,189
292,297
A.O. Smith Corp.
 
3,762
280,231
AAON, Inc.
 
3,093
421,700
Acuity Brands, Inc.
 
1,117
358,211
Advanced Drainage Systems, Inc.
 
2,003
270,986
AECOM
 
3,080
360,268
AGCO Corp.(c)
 
3,236
327,516
Air Lease Corp., Class A
 
6,776
344,898
Alaska Air Group, Inc.(b)
 
8,494
446,784
 
Shares
Value
Industrials-(continued)
Allegion PLC
 
2,078
$292,666
Allison Transmission Holdings, Inc.
 
3,359
398,041
Amentum Holdings, Inc.(b)
 
2,069
50,380
American Airlines Group, Inc.(b)(c)
 
30,762
446,664
AMETEK, Inc.
 
1,790
347,940
API Group Corp.(b)(c)
 
8,499
321,092
Armstrong World Industries, Inc.
 
2,399
383,432
Automatic Data Processing, Inc.
 
1,113
341,613
Avis Budget Group, Inc.(c)
 
4,632
505,212
Axon Enterprise, Inc.(b)
 
750
485,220
AZEK Co., Inc. (The)(b)(c)
 
6,802
361,322
Boeing Co. (The)(b)
 
1,774
275,751
Booz Allen Hamilton Holding Corp.
 
1,988
294,582
Broadridge Financial Solutions, Inc.
 
1,875
442,537
Builders FirstSource, Inc.(b)
 
1,644
306,557
BWX Technologies, Inc.
 
2,960
387,316
C.H. Robinson Worldwide, Inc.
 
3,130
330,465
CACI International, Inc., Class A(b)
 
864
397,336
Carlisle Cos., Inc.
 
742
338,871
Carrier Global Corp.
 
3,834
296,637
Caterpillar, Inc.
 
836
339,508
Cintas Corp.
 
1,405
317,235
Clarivate PLC(b)(c)
 
61,981
355,151
Clean Harbors, Inc.(b)
 
5,335
1,387,580
CNH Industrial N.V.
 
30,109
378,169
Comfort Systems USA, Inc.
 
848
418,293
Concentrix Corp.(c)
 
6,159
276,847
Copart, Inc.(b)
 
6,650
421,543
Core & Main, Inc., Class A(b)
 
7,243
351,648
Crane Co.
 
1,919
349,412
CSX Corp.
 
9,053
330,887
Cummins, Inc.
 
984
369,039
Curtiss-Wright Corp.
 
991
370,267
Dayforce, Inc.(b)(c)
 
6,656
532,413
Deere & Co.
 
719
334,982
Delta Air Lines, Inc.
 
7,351
469,141
Donaldson Co., Inc.
 
4,346
339,205
Dover Corp.
 
1,494
307,615
Dun & Bradstreet Holdings, Inc.
 
34,765
441,515
Eaton Corp. PLC
 
954
358,151
EMCOR Group, Inc.
 
779
397,383
Emerson Electric Co.
 
2,852
378,175
Equifax, Inc.
 
972
254,236
ESAB Corp.
 
3,101
400,277
Everus Construction Group, Inc.(b)
 
2,715
172,837
Expeditors International of Washington, Inc.
 
2,488
302,640
Fastenal Co.
 
21,793
1,821,023
FedEx Corp.
 
1,085
328,397
Ferguson Enterprises, Inc.
 
1,590
343,329
Flowserve Corp.
 
6,515
397,545
Fortive Corp.
 
4,166
330,489
Fortune Brands Innovations, Inc.
 
3,564
279,061
FTI Consulting, Inc.(b)
 
1,322
267,731
Gates Industrial Corp. PLC(b)
 
16,873
373,906
GE Vernova, Inc.(b)
 
1,345
449,391
Generac Holdings, Inc.(b)
 
1,990
374,518
General Dynamics Corp.
 
1,020
289,690
General Electric Co.
 
1,660
302,386
Genpact Ltd.
 
7,512
346,754
Graco, Inc.
 
3,450
314,226
GXO Logistics, Inc.(b)(c)
 
5,748
349,651
Hayward Holdings, Inc.(b)
 
20,793
336,015
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Industrials-(continued)
HEICO Corp.(c)
 
1,210
$330,778
Hexcel Corp.
 
24,618
1,560,535
Honeywell International, Inc.
 
1,473
343,106
Howmet Aerospace, Inc.
 
3,069
363,308
Hubbell, Inc.
 
735
338,166
Huntington Ingalls Industries, Inc.
 
1,108
219,295
IDEX Corp.
 
1,529
352,633
Illinois Tool Works, Inc.
 
1,126
312,488
Ingersoll Rand, Inc.
 
3,313
345,115
ITT, Inc.
 
2,108
329,101
J.B. Hunt Transport Services, Inc.
 
1,764
333,590
Jacobs Solutions, Inc.
 
2,069
292,205
Johnson Controls International PLC
 
4,016
336,782
KBR, Inc.
 
6,348
386,149
Kirby Corp.(b)(c)
 
2,620
331,456
Knight-Swift Transportation Holdings, Inc.
 
5,782
343,220
L3Harris Technologies, Inc.
 
1,223
301,164
Landstar System, Inc.
 
1,687
313,647
Leidos Holdings, Inc.
 
2,550
421,770
Lennox International, Inc.
 
504
336,234
Lincoln Electric Holdings, Inc.
 
1,637
357,652
Loar Holdings, Inc.(b)(c)
 
3,683
339,131
Lockheed Martin Corp.
 
509
269,470
Lyft, Inc., Class A(b)
 
28,016
486,358
ManpowerGroup, Inc.
 
4,398
283,099
Masco Corp.
 
3,663
295,091
MasTec, Inc.(b)
 
2,751
396,309
Middleby Corp. (The)(b)(c)
 
2,176
312,017
MSA Safety, Inc.
 
1,671
290,437
MSC Industrial Direct Co., Inc., Class A(c)
 
3,876
332,871
Nordson Corp.
 
1,182
308,490
Norfolk Southern Corp.
 
1,221
336,813
Northrop Grumman Corp.
 
557
272,735
nVent Electric PLC
 
4,481
350,907
Old Dominion Freight Line, Inc.
 
1,568
353,020
Oshkosh Corp.
 
3,100
352,191
Otis Worldwide Corp.
 
3,220
331,596
Owens Corning
 
1,786
367,237
PACCAR, Inc.
 
3,042
355,914
Parker-Hannifin Corp.
 
492
345,827
Parsons Corp.(b)
 
4,097
392,943
Paychex, Inc.
 
2,190
320,331
Paycom Software, Inc.
 
2,336
541,765
Paycor HCM, Inc.(b)
 
27,959
504,940
Paylocity Holding Corp.(b)
 
2,016
418,401
Pentair PLC
 
3,184
347,024
Quanta Services, Inc.
 
1,127
388,274
RB Global, Inc. (Canada)
 
3,963
387,423
RBC Bearings, Inc.(b)(c)
 
5,362
1,796,860
Regal Rexnord Corp.
 
1,950
336,784
Republic Services, Inc.
 
6,160
1,344,728
Robert Half, Inc.(c)
 
4,898
365,440
Rockwell Automation, Inc.
 
1,163
343,248
Rollins, Inc.
 
6,281
316,123
RTX Corp.
 
2,607
317,611
Ryder System, Inc.
 
2,266
382,591
Saia, Inc.(b)(c)
 
686
390,389
Schneider National, Inc., Class B(c)
 
10,648
357,879
Science Applications International Corp.
 
2,900
360,325
Sensata Technologies Holding PLC
 
8,470
272,226
Simpson Manufacturing Co., Inc.
 
1,603
302,005
SiteOne Landscape Supply, Inc.(b)(c)
 
2,359
361,517
 
Shares
Value
Industrials-(continued)
Snap-on, Inc.
 
1,019
$376,714
Southwest Airlines Co.
 
11,044
357,384
Spirit AeroSystems Holdings, Inc.,
Class A(b)(c)
 
8,649
279,882
SS&C Technologies Holdings, Inc.
 
5,305
410,289
Stanley Black & Decker, Inc.
 
2,957
264,504
Tetra Tech, Inc.
 
6,534
271,226
Textron, Inc.
 
3,535
302,702
Timken Co. (The)
 
19,159
1,483,865
Toro Co. (The)
 
3,487
303,648
Trane Technologies PLC
 
814
338,803
TransDigm Group, Inc.
 
207
259,365
TransUnion
 
2,947
299,120
Trex Co., Inc.(b)(c)
 
4,511
338,460
Uber Technologies, Inc.(b)
 
4,779
343,897
U-Haul Holding Co., Series N(c)
 
5,209
325,250
Union Pacific Corp.
 
1,217
297,751
United Airlines Holdings, Inc.(b)
 
6,761
654,668
United Parcel Service, Inc., Class B
 
2,250
305,370
United Rentals, Inc.
 
407
352,462
Valmont Industries, Inc.
 
1,109
385,777
Veralto Corp.
 
2,732
295,575
Verisk Analytics, Inc.
 
1,125
330,986
Vertiv Holdings Co., Class A
 
4,509
575,348
Vestis Corp.
 
19,433
312,483
W.W. Grainger, Inc.
 
298
359,191
Wabtec Corp.
 
1,696
340,252
Waste Management, Inc.
 
6,083
1,388,262
Watsco, Inc.(c)
 
643
354,679
WESCO International, Inc.
 
1,861
393,732
WillScot Holdings Corp.(b)(c)
 
7,871
300,987
Woodward, Inc.
 
1,727
311,413
XPO, Inc.(b)
 
2,815
429,034
Xylem, Inc.
 
2,206
279,610
 
 
66,164,209
Information Technology-13.44%
Accenture PLC, Class A (Ireland)
 
894
323,959
Adobe, Inc.(b)
 
665
343,093
Advanced Micro Devices, Inc.(b)
 
2,594
355,832
Akamai Technologies, Inc.(b)
 
4,167
391,781
Allegro MicroSystems, Inc. (Japan)(b)(c)
 
18,509
402,201
Amdocs Ltd.
 
4,775
414,088
Amkor Technology, Inc.
 
13,117
346,813
Amphenol Corp., Class A
 
6,164
447,815
Analog Devices, Inc.
 
1,763
384,422
ANSYS, Inc.(b)
 
1,273
446,950
AppFolio, Inc., Class A(b)
 
1,742
442,033
Apple, Inc.
 
1,777
421,735
Applied Materials, Inc.
 
2,134
372,831
AppLovin Corp., Class A(b)
 
3,702
1,246,649
Arista Networks, Inc.(b)
 
9,096
3,691,339
Arrow Electronics, Inc.(b)
 
3,182
382,349
Aspen Technology, Inc.(b)(c)
 
1,735
433,750
Astera Labs, Inc.(b)(c)
 
9,454
976,126
Atlassian Corp., Class A(b)
 
2,363
622,840
Autodesk, Inc.(b)
 
1,529
446,315
Avnet, Inc.
 
7,822
427,942
Bentley Systems, Inc., Class B
 
8,005
396,248
BILL Holdings, Inc.(b)
 
5,772
520,750
Broadcom, Inc.
 
2,378
385,426
Cadence Design Systems, Inc.(b)
 
1,450
444,875
CCC Intelligent Solutions Holdings, Inc.(b)(c)
 
37,713
475,184
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Information Technology-(continued)
CDW Corp.
 
1,786
$314,211
Ciena Corp.(b)(c)
 
59,224
4,129,097
Cirrus Logic, Inc.(b)
 
2,982
311,470
Cisco Systems, Inc.
 
65,094
3,854,216
Cloudflare, Inc., Class A(b)
 
5,093
508,434
Cognex Corp.
 
7,551
301,889
Cognizant Technology Solutions Corp.,
Class A
 
5,464
439,797
Coherent Corp.(b)
 
5,246
525,439
Confluent, Inc., Class A(b)(c)
 
20,168
621,981
Corning, Inc.
 
9,345
454,821
Crane NXT Co.
 
4,994
313,024
CrowdStrike Holdings, Inc., Class A(b)
 
1,521
526,220
Datadog, Inc., Class A(b)
 
3,568
545,012
Dell Technologies, Inc., Class C
 
3,488
445,034
DocuSign, Inc.(b)(c)
 
7,133
568,429
Dolby Laboratories, Inc., Class A
 
5,610
439,375
DoubleVerify Holdings, Inc.(b)
 
22,376
454,904
Dropbox, Inc., Class A(b)
 
16,112
445,658
DXC Technology Co.(b)
 
18,840
423,900
Dynatrace, Inc.(b)
 
7,732
434,461
Elastic N.V.(b)
 
5,296
579,700
Enphase Energy, Inc.(b)
 
11,944
852,204
Entegris, Inc.
 
3,613
381,641
EPAM Systems, Inc.(b)
 
2,048
499,548
F5, Inc.(b)
 
1,900
475,665
Fair Isaac Corp.(b)
 
154
365,755
First Solar, Inc.(b)
 
5,356
1,067,290
Five9, Inc.(b)(c)
 
14,051
580,025
Fortinet, Inc.(b)
 
5,249
498,917
Gartner, Inc.(b)
 
825
427,292
Gen Digital, Inc.
 
15,671
483,450
GitLab, Inc., Class A(b)
 
7,222
460,403
GLOBALFOUNDRIES, Inc.(b)(c)
 
9,804
424,023
Globant S.A.(b)
 
1,982
451,420
GoDaddy, Inc., Class A(b)
 
2,701
533,637
Guidewire Software, Inc.(b)
 
2,301
466,850
HashiCorp, Inc., Class A(b)
 
12,061
405,491
Hewlett Packard Enterprise Co.
 
23,196
492,219
HP, Inc.
 
11,815
418,605
HubSpot, Inc.(b)
 
796
573,956
Informatica, Inc., Class A(b)
 
15,302
405,809
Intel Corp.
 
20,199
485,786
International Business Machines Corp.
 
1,850
420,709
Intuit, Inc.
 
605
388,247
IPG Photonics Corp.(b)
 
6,038
471,206
Jabil, Inc.
 
3,766
511,536
Juniper Networks, Inc.
 
83,883
3,013,077
Keysight Technologies, Inc.(b)
 
2,022
345,438
KLA Corp.
 
533
344,867
Kyndryl Holdings, Inc.(b)
 
17,092
593,263
Lam Research Corp.
 
5,230
386,392
Lattice Semiconductor Corp.(b)(c)
 
9,005
511,034
Littelfuse, Inc.
 
1,181
291,317
Lumentum Holdings, Inc.(b)(c)
 
59,519
5,176,367
MACOM Technology Solutions Holdings,
Inc.(b)(c)
 
3,869
513,881
Manhattan Associates, Inc.(b)
 
1,482
423,022
Marvell Technology, Inc.
 
5,462
506,273
Microchip Technology, Inc.
 
5,141
350,462
Micron Technology, Inc.
 
4,486
439,404
Microsoft Corp.
 
917
388,313
 
Shares
Value
Information Technology-(continued)
MicroStrategy, Inc., Class A(b)(c)
 
2,992
$1,159,310
MKS Instruments, Inc.
 
2,680
304,555
MongoDB, Inc.(b)
 
1,327
427,944
Monolithic Power Systems, Inc.
 
451
256,006
Motorola Solutions, Inc.
 
7,345
3,670,297
nCino, Inc.(b)(c)
 
13,439
564,304
NetApp, Inc.
 
3,360
412,070
Nutanix, Inc., Class A(b)(c)
 
6,438
420,273
NVIDIA Corp.
 
3,281
453,598
Okta, Inc.(b)
 
5,319
412,542
ON Semiconductor Corp.(b)
 
5,505
391,516
Onto Innovation, Inc.(b)
 
2,027
332,793
Oracle Corp.
 
2,425
448,237
Palantir Technologies, Inc., Class A(b)
 
11,204
751,564
Palo Alto Networks, Inc.(b)
 
1,198
464,608
Pegasystems, Inc.(c)
 
5,867
557,189
Procore Technologies, Inc.(b)
 
6,846
555,895
PTC, Inc.(b)
 
2,356
471,341
Pure Storage, Inc., Class A(b)
 
8,105
429,484
Qorvo, Inc.(b)
 
3,702
255,623
QUALCOMM, Inc.
 
2,372
376,033
RingCentral, Inc., Class A(b)(c)
 
14,340
539,614
Roper Technologies, Inc.
 
732
414,634
Salesforce, Inc.
 
1,540
508,185
SentinelOne, Inc., Class A(b)(c)
 
17,647
493,234
ServiceNow, Inc.(b)
 
442
463,853
Skyworks Solutions, Inc.
 
3,896
341,251
Smartsheet, Inc., Class A(b)
 
7,735
432,773
Snowflake, Inc., Class A(b)(c)
 
3,463
605,332
Super Micro Computer, Inc.(b)(c)
 
8,845
288,701
Synopsys, Inc.(b)
 
802
447,909
TD SYNNEX Corp.
 
3,525
419,440
Teledyne Technologies, Inc.(b)
 
710
344,535
Teradata Corp.(b)
 
14,076
434,948
Teradyne, Inc.
 
3,051
335,610
Texas Instruments, Inc.
 
2,075
417,137
Trimble, Inc.(b)
 
5,399
393,965
Twilio, Inc., Class A(b)
 
6,967
728,330
Tyler Technologies, Inc.(b)
 
669
420,915
Ubiquiti, Inc.(c)
 
16,042
5,558,393
UiPath, Inc., Class A(b)(c)
 
32,749
465,363
Unity Software, Inc.(b)(c)
 
20,680
498,595
Universal Display Corp.
 
1,988
327,066
VeriSign, Inc.(b)
 
2,260
423,027
Vontier Corp.
 
8,920
350,199
Western Digital Corp.(b)
 
6,183
451,297
Wolfspeed, Inc.(b)(c)
 
48,585
465,444
Workday, Inc., Class A(b)
 
1,557
389,234
Zebra Technologies Corp., Class A(b)
 
923
375,661
Zoom Video Communications, Inc., Class A(b)
 
5,874
485,721
Zscaler, Inc.(b)(c)
 
2,348
485,073
 
 
89,425,833
Materials-9.12%
Air Products and Chemicals, Inc.
 
5,486
1,834,134
Albemarle Corp.(c)
 
17,342
1,867,733
Alcoa Corp.
 
48,909
2,270,845
Amcor PLC
 
27,718
294,920
AptarGroup, Inc.
 
1,877
324,646
Ardagh Group S.A., Class A(b)(d)
 
13,287
56,038
Ashland, Inc.
 
17,732
1,384,160
ATI, Inc.(b)
 
5,027
302,475
Avery Dennison Corp.
 
6,910
1,423,114
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Materials-(continued)
Axalta Coating Systems Ltd.(b)
 
8,800
$356,048
Ball Corp.
 
4,531
281,647
Berry Global Group, Inc.
 
4,499
325,323
Celanese Corp.
 
12,599
922,373
CF Industries Holdings, Inc.
 
19,574
1,755,005
Chemours Co. (The)
 
89,609
1,948,100
Cleveland-Cliffs, Inc.(b)(c)
 
133,043
1,656,385
Corteva, Inc.
 
18,301
1,139,054
CRH PLC
 
3,605
368,683
Crown Holdings, Inc.
 
3,206
295,241
Dow, Inc.
 
5,752
254,296
DuPont de Nemours, Inc.
 
3,803
317,893
Eagle Materials, Inc.
 
1,088
336,105
Eastman Chemical Co.
 
15,160
1,587,555
Ecolab, Inc.
 
6,025
1,498,839
Element Solutions, Inc.
 
59,684
1,711,737
FMC Corp.
 
24,353
1,439,019
Freeport-McMoRan, Inc.
 
36,115
1,596,283
Graphic Packaging Holding Co.
 
10,006
301,081
Huntsman Corp.
 
69,813
1,366,939
International Flavors & Fragrances, Inc.
 
14,697
1,342,718
International Paper Co.(c)
 
32,013
1,883,325
Linde PLC
 
3,271
1,507,898
Louisiana-Pacific Corp.
 
3,162
373,748
LyondellBasell Industries N.V., Class A
 
16,087
1,340,691
Martin Marietta Materials, Inc.
 
561
336,600
Mosaic Co. (The)
 
59,971
1,586,833
MP Materials Corp.(b)(c)
 
111,264
2,344,332
NewMarket Corp.
 
2,736
1,459,820
Newmont Corp.
 
28,558
1,197,722
Nucor Corp.
 
10,740
1,661,371
Olin Corp.
 
36,107
1,537,797
Packaging Corp. of America
 
1,476
367,303
PPG Industries, Inc.
 
2,425
301,597
Reliance, Inc.
 
5,608
1,801,514
Royal Gold, Inc.(c)
 
10,724
1,568,492
RPM International, Inc.
 
2,469
342,648
Scotts Miracle-Gro Co. (The)(c)
 
23,115
1,781,935
Sealed Air Corp.
 
8,710
318,786
Sherwin-Williams Co. (The)
 
776
308,382
Silgan Holdings, Inc.
 
6,191
356,168
Smurfit WestRock PLC
 
6,487
356,915
Sonoco Products Co.
 
5,654
293,330
Southern Copper Corp. (Mexico)(c)
 
15,503
1,555,726
Steel Dynamics, Inc.
 
13,875
2,015,621
United States Steel Corp.(c)
 
43,469
1,772,231
Vulcan Materials Co.
 
1,222
352,095
Westlake Corp.
 
10,996
1,411,886
 
 
60,693,155
Real Estate-8.25%
Agree Realty Corp.
 
11,558
887,654
Alexandria Real Estate Equities, Inc.
 
7,192
792,774
American Homes 4 Rent, Class A
 
21,596
826,911
American Tower Corp.
 
3,696
772,464
Americold Realty Trust, Inc.
 
30,276
722,385
AvalonBay Communities, Inc.
 
3,782
890,094
Brixmor Property Group, Inc.
 
31,918
959,774
BXP, Inc.(c)
 
11,155
914,598
Camden Property Trust
 
7,123
896,073
CBRE Group, Inc., Class A(b)
 
7,466
1,045,165
CoStar Group, Inc.(b)
 
11,246
914,750
Cousins Properties, Inc.
 
30,132
956,390
 
Shares
Value
Real Estate-(continued)
Crown Castle, Inc.
 
7,362
$782,213
CubeSmart
 
16,263
805,994
Digital Realty Trust, Inc.
 
5,465
1,069,446
EastGroup Properties, Inc.
 
4,742
816,620
EPR Properties
 
18,394
834,536
Equinix, Inc.
 
1,009
990,313
Equity LifeStyle Properties, Inc.
 
11,656
831,423
Equity Residential
 
11,331
868,634
Essex Property Trust, Inc.
 
2,829
878,291
Extra Space Storage, Inc.
 
4,948
845,910
Federal Realty Investment Trust
 
7,543
879,891
First Industrial Realty Trust, Inc.
 
15,771
842,960
Gaming and Leisure Properties, Inc.
 
16,827
868,441
Healthcare Realty Trust, Inc.(c)
 
47,166
864,081
Healthpeak Properties, Inc.
 
39,125
860,359
Highwoods Properties, Inc.
 
27,072
878,757
Host Hotels & Resorts, Inc.
 
50,975
938,960
Howard Hughes Holdings, Inc.(b)(c)
 
11,839
1,026,915
Invitation Homes, Inc.
 
24,239
830,186
Iron Mountain, Inc.
 
7,537
932,101
Jones Lang LaSalle, Inc.(b)
 
3,489
979,013
Kilroy Realty Corp.(c)
 
24,926
1,035,177
Kimco Realty Corp.
 
37,073
947,957
Lamar Advertising Co., Class A
 
6,876
921,522
Lineage, Inc.(c)
 
10,636
674,535
Medical Properties Trust, Inc.(c)
 
156,572
687,351
Mid-America Apartment Communities, Inc.
 
5,330
874,973
National Storage Affiliates Trust(c)
 
18,386
829,209
NNN REIT, Inc.(c)
 
18,140
797,797
Omega Healthcare Investors, Inc.
 
21,612
877,663
Park Hotels & Resorts, Inc.(c)
 
63,629
989,431
Prologis, Inc.
 
6,729
785,813
Public Storage
 
2,443
850,286
Rayonier, Inc.
 
27,843
887,356
Realty Income Corp.
 
14,047
813,181
Regency Centers Corp.
 
11,791
891,282
Rexford Industrial Realty, Inc.(c)
 
17,682
744,059
SBA Communications Corp., Class A
 
3,655
826,944
Seaport Entertainment Group, Inc.(b)(c)
 
33,477
1,133,196
Simon Property Group, Inc.
 
5,353
982,811
STAG Industrial, Inc.
 
22,308
820,711
Sun Communities, Inc.
 
6,065
766,191
UDR, Inc.
 
18,837
863,865
Ventas, Inc.(c)
 
13,488
864,176
VICI Properties, Inc.
 
26,119
851,741
Vornado Realty Trust(c)
 
24,405
1,050,635
W.P. Carey, Inc.
 
14,092
804,090
Welltower, Inc.
 
6,805
940,315
Weyerhaeuser Co.
 
27,913
900,473
Zillow Group, Inc., Class C(b)(c)
 
15,479
1,311,226
 
 
54,928,042
Utilities-8.14%
AES Corp. (The)
 
69,770
909,801
Alliant Energy Corp.
 
21,461
1,356,335
Ameren Corp.
 
15,143
1,429,348
American Electric Power Co., Inc.
 
12,276
1,225,881
American Water Works Co., Inc.
 
8,594
1,176,862
Atmos Energy Corp.
 
9,379
1,419,230
Avangrid, Inc.
 
35,373
1,276,965
Brookfield Renewable Corp., Class A(c)
 
42,043
1,342,013
CenterPoint Energy, Inc.
 
45,821
1,494,681
Clearway Energy, Inc., Class C
 
44,501
1,312,334
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
CMS Energy Corp.
 
18,243
$1,271,720
Consolidated Edison, Inc.
 
12,229
1,230,115
Constellation Energy Corp.
 
6,656
1,707,663
Dominion Energy, Inc.
 
22,109
1,298,904
DTE Energy Co.
 
10,156
1,277,422
Duke Energy Corp.
 
10,900
1,275,845
Edison International
 
14,938
1,310,810
Entergy Corp.
 
10,233
1,598,088
Essential Utilities, Inc.
 
32,975
1,319,989
Evergy, Inc.
 
20,946
1,353,740
Eversource Energy
 
18,732
1,208,027
Exelon Corp.
 
31,718
1,254,764
FirstEnergy Corp.
 
28,694
1,220,930
IDACORP, Inc.(c)
 
12,274
1,454,101
MDU Resources Group, Inc.
 
10,868
217,795
National Fuel Gas Co.
 
21,364
1,366,655
NextEra Energy, Inc.
 
15,150
1,191,851
NiSource, Inc.
 
37,591
1,431,841
NRG Energy, Inc.
 
15,843
1,609,807
OGE Energy Corp.
 
31,600
1,389,136
PG&E Corp.
 
64,271
1,390,182
Pinnacle West Capital Corp.(c)
 
14,172
1,327,916
PPL Corp.
 
39,556
1,381,691
Public Service Enterprise Group, Inc.
 
15,177
1,431,191
Sempra
 
15,473
1,449,356
Southern Co. (The)
 
14,288
1,273,489
UGI Corp.
 
54,803
1,664,367
 
Shares
Value
Utilities-(continued)
Vistra Corp.
 
15,913
$2,543,534
WEC Energy Group, Inc.
 
13,307
1,344,672
Xcel Energy, Inc.
 
19,790
1,435,962
 
 
54,175,013
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.92%
(Cost $544,085,387)
664,978,191
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-13.94%
Invesco Private Government Fund,
4.63%(e)(f)(g)
 
25,986,041
25,986,041
Invesco Private Prime Fund, 4.71%(e)(f)(g)
 
66,745,225
66,765,249
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $92,753,968)
92,751,290
TOTAL INVESTMENTS IN SECURITIES-113.86%
(Cost $636,839,355)
757,729,481
OTHER ASSETS LESS LIABILITIES-(13.86)%
(92,211,925
)
NET ASSETS-100.00%
$665,517,556
 
Investment Abbreviations:
REIT
-Real Estate Investment Trust
Rts.
-Rights
 
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 November 30, 2024.
(d)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(e)
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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
Value
November 30, 2024
Dividend
Income
Invesco Ltd.
$426,242
$5,248
$(2,511
)
$24,552
$311
$453,842
$5,133
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
-
4,203,370
(4,203,370
)
-
-
-
3,349
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000 Equal Weight ETF (EQAL)—(continued)
November 30, 2024
(Unaudited)
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
Value
November 30, 2024
Dividend
Income
Investments Purchased
with Cash Collateral
from Securities on Loan:
Invesco Private
Government Fund
$18,859,177
$51,478,199
$(44,351,335
)
$-
$-
$25,986,041
$292,685
*
Invesco Private Prime
Fund
49,558,271
90,495,954
(73,282,559
)
(7,833
)
1,416
66,765,249
782,136
*
Total
$68,843,690
$146,182,771
$(121,839,775
)
$16,719
$1,727
$93,205,132
$1,083,303
 
*
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.
 
(f)
The rate shown is the 7-day SEC standardized yield as of November 30, 2024.
(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(a)
Invesco S&P 500® Enhanced Value ETF (SPVU)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.73%
Communication Services-11.87%
AT&T, Inc.
 
181,315
$4,199,255
Charter Communications, Inc., Class A(b)
 
2,135
847,520
Comcast Corp., Class A
 
80,361
3,470,792
Fox Corp., Class A
 
5,158
243,045
Paramount Global, Class B
 
13,211
143,339
Verizon Communications, Inc.
 
71,852
3,185,918
Warner Bros. Discovery, Inc.(b)
 
43,608
457,012
 
 
12,546,881
Consumer Discretionary-7.61%
Aptiv PLC(b)(c)
 
6,975
387,322
Best Buy Co., Inc.
 
3,920
352,800
BorgWarner, Inc.
 
5,983
205,336
Caesars Entertainment, Inc.(b)
 
4,910
188,986
CarMax, Inc.(b)(c)
 
3,714
311,865
D.R. Horton, Inc.
 
5,913
997,996
Ford Motor Co.
 
132,567
1,475,471
General Motors Co.
 
42,772
2,377,695
Lennar Corp., Class A
 
5,038
878,577
LKQ Corp.(c)
 
5,394
211,930
Mohawk Industries, Inc.(b)
 
841
116,756
PulteGroup, Inc.
 
4,021
543,921
 
 
8,048,655
Consumer Staples-3.98%
Archer-Daniels-Midland Co.
 
18,348
1,001,801
Bunge Global S.A.
 
5,182
465,033
Conagra Brands, Inc.
 
9,044
249,162
Kraft Heinz Co. (The)
 
18,159
580,543
Kroger Co. (The)
 
16,740
1,022,479
Molson Coors Beverage Co., Class B
 
5,213
323,519
Tyson Foods, Inc., Class A
 
6,378
411,381
Walgreens Boots Alliance, Inc.(c)
 
16,707
150,697
 
 
4,204,615
Energy-14.82%
APA Corp.(c)
 
7,532
170,600
Chevron Corp.
 
28,872
4,675,243
Devon Energy Corp.
 
11,439
434,110
Diamondback Energy, Inc.
 
2,746
487,662
Exxon Mobil Corp.
 
41,883
4,940,519
Marathon Petroleum Corp.
 
10,615
1,657,532
Phillips 66
 
12,587
1,686,406
Valero Energy Corp.
 
11,651
1,620,421
 
 
15,672,493
Financials-39.82%
American International Group, Inc.
 
16,769
1,289,201
Arch Capital Group Ltd.(b)
 
7,527
758,119
Assurant, Inc.
 
1,097
249,129
Bank of America Corp.
 
117,923
5,602,522
Bank of New York Mellon Corp. (The)
 
13,725
1,123,666
Berkshire Hathaway, Inc., Class B(b)
 
11,365
5,489,522
Capital One Financial Corp.
 
9,066
1,740,763
Cincinnati Financial Corp.
 
3,810
608,952
Citigroup, Inc.
 
39,799
2,820,555
Citizens Financial Group, Inc.
 
10,120
487,177
Everest Group Ltd.
 
1,225
474,761
Fifth Third Bancorp
 
12,302
591,234
Franklin Resources, Inc.(c)
 
7,062
160,731
Globe Life, Inc.
 
2,055
228,598
Hartford Financial Services Group, Inc. (The)
 
5,589
689,180
Huntington Bancshares, Inc.
 
30,867
555,915
 
Shares
Value
Financials-(continued)
JPMorgan Chase & Co.
 
24,260
$6,058,207
KeyCorp
 
17,270
336,420
Loews Corp.
 
4,623
400,953
M&T Bank Corp.
 
4,060
893,159
PNC Financial Services Group, Inc. (The)
 
7,046
1,512,917
Principal Financial Group, Inc.
 
3,860
336,167
Prudential Financial, Inc.
 
7,382
955,305
Regions Financial Corp.
 
20,376
555,450
State Street Corp.
 
6,650
655,092
Synchrony Financial
 
9,891
667,840
U.S. Bancorp
 
29,121
1,551,858
Wells Fargo & Co.
 
69,744
5,312,400
 
 
42,105,793
Health Care-9.69%
Baxter International, Inc.
 
11,595
390,867
Cencora, Inc.
 
3,099
779,553
Centene Corp.(b)
 
17,286
1,037,160
Cigna Group (The)
 
5,779
1,952,146
CVS Health Corp.
 
46,063
2,756,871
Humana, Inc.
 
2,768
820,380
McKesson Corp.
 
2,328
1,463,148
Molina Healthcare, Inc.(b)
 
1,105
329,180
Solventum Corp.(b)
 
3,037
217,176
Universal Health Services, Inc., Class B
 
1,082
221,810
Viatris, Inc.
 
20,888
273,424
 
 
10,241,715
Industrials-5.05%
Delta Air Lines, Inc.(c)
 
17,018
1,086,089
Emerson Electric Co.
 
10,129
1,343,105
FedEx Corp.
 
4,430
1,340,828
Huntington Ingalls Industries, Inc.
 
718
142,107
Southwest Airlines Co.
 
10,396
336,414
United Airlines Holdings, Inc.(b)
 
11,236
1,087,982
 
 
5,336,525
Information Technology-1.40%
Hewlett Packard Enterprise Co.
 
28,422
603,115
HP, Inc.
 
13,967
494,851
Jabil, Inc.
 
2,846
386,572
 
 
1,484,538
Materials-2.97%
Ball Corp.
 
6,311
392,292
Celanese Corp.
 
2,055
150,446
Eastman Chemical Co.
 
1,875
196,350
FMC Corp.(c)
 
2,852
168,525
LyondellBasell Industries N.V., Class A
 
4,621
385,114
Mosaic Co. (The)
 
9,396
248,618
Nucor Corp.
 
5,420
838,420
Smurfit WestRock PLC
 
5,002
275,210
Steel Dynamics, Inc.
 
3,367
489,124
 
 
3,144,099
Real Estate-0.61%
VICI Properties, Inc.
 
19,898
648,874
Utilities-1.91%
Consolidated Edison, Inc.
 
5,345
537,653
Entergy Corp.
 
3,993
623,587
Evergy, Inc.
 
3,854
249,084
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Enhanced Value ETF (SPVU)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
NRG Energy, Inc.
 
4,218
$428,591
Pinnacle West Capital Corp.(c)
 
1,863
174,563
 
 
2,013,478
Total Common Stocks & Other Equity Interests
(Cost $91,313,494)
105,447,666
Money Market Funds-0.01%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $12,129)
 
12,129
12,129
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.74%
(Cost $91,325,623)
105,459,795
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-1.61%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
474,784
$474,784
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
1,221,855
1,222,222
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $1,697,006)
1,697,006
TOTAL INVESTMENTS IN SECURITIES-101.35%
(Cost $93,022,629)
107,156,801
OTHER ASSETS LESS LIABILITIES-(1.35)%
(1,426,312
)
NET ASSETS-100.00%
$105,730,489
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$987,828
$(975,699
)
$-
$-
$12,129
$978
Investments Purchased with
Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
547,149
3,594,723
(3,667,088
)
-
-
474,784
7,186
*
Invesco Private Prime Fund
1,429,956
9,313,576
(9,521,277
)
(81
)
48
1,222,222
19,148
*
Total
$1,977,105
$13,896,127
$(14,164,064
)
$(81
)
$48
$1,709,135
$27,312
 
*
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 November 30, 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 S&P 500® ex-Rate Sensitive Low Volatility ETF (XRLV)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.90%
Communication Services-2.20%
Electronic Arts, Inc.
 
2,600
$425,542
T-Mobile US, Inc.
 
2,057
507,956
 
 
933,498
Consumer Discretionary-4.94%
Hilton Worldwide Holdings, Inc.
 
1,573
398,661
McDonald’s Corp.
 
1,370
405,534
O’Reilly Automotive, Inc.(b)
 
309
384,155
TJX Cos., Inc. (The)
 
3,573
449,090
Yum! Brands, Inc.(c)
 
3,309
459,753
 
 
2,097,193
Consumer Staples-14.50%
Altria Group, Inc.
 
6,870
396,674
Church & Dwight Co., Inc.(c)
 
4,012
441,842
Coca-Cola Co. (The)
 
9,171
587,678
Colgate-Palmolive Co.
 
5,391
520,932
Constellation Brands, Inc., Class A
 
1,646
396,604
General Mills, Inc.(c)
 
5,829
386,230
Keurig Dr Pepper, Inc.
 
12,806
418,116
Kimberly-Clark Corp.
 
3,003
418,468
Mondelez International, Inc., Class A
 
6,462
419,707
PepsiCo, Inc.
 
2,732
446,545
Philip Morris International, Inc.
 
3,008
400,244
Procter & Gamble Co. (The)
 
2,961
530,789
Sysco Corp.
 
4,904
378,147
Walmart, Inc.
 
4,538
419,765
 
 
6,161,741
Energy-3.92%
Chevron Corp.
 
2,401
388,794
Kinder Morgan, Inc.
 
15,925
450,200
ONEOK, Inc.
 
3,643
413,845
Williams Cos., Inc. (The)
 
7,022
410,927
 
 
1,663,766
Financials-17.63%
Ameriprise Financial, Inc.
 
685
393,170
Arthur J. Gallagher & Co.
 
1,331
415,591
Bank of New York Mellon Corp. (The)
 
5,212
426,707
Berkshire Hathaway, Inc., Class B(b)
 
1,149
554,990
Brown & Brown, Inc.
 
3,497
395,511
Chubb Ltd.
 
1,458
420,968
CME Group, Inc., Class A
 
1,902
452,676
Fiserv, Inc.(b)
 
2,092
462,248
Hartford Financial Services Group, Inc. (The)
 
3,175
391,509
Intercontinental Exchange, Inc.
 
2,780
447,469
Jack Henry & Associates, Inc.
 
2,145
377,906
Loews Corp.
 
5,636
488,810
Marsh & McLennan Cos., Inc.
 
2,165
504,943
Mastercard, Inc., Class A
 
890
474,317
Nasdaq, Inc.
 
4,817
399,763
Visa, Inc., Class A(c)
 
1,454
458,126
Willis Towers Watson PLC
 
1,324
426,328
 
 
7,491,032
Health Care-7.67%
Abbott Laboratories
 
3,445
409,163
Becton, Dickinson and Co.
 
1,528
339,063
Boston Scientific Corp.(b)
 
4,907
444,868
Cencora, Inc.
 
1,683
423,359
Hologic, Inc.(b)
 
5,032
400,044
Johnson & Johnson
 
2,970
460,380
 
Shares
Value
Health Care-(continued)
Medtronic PLC
 
4,364
$377,660
Stryker Corp.
 
1,032
404,699
 
 
3,259,236
Industrials-15.69%
Automatic Data Processing, Inc.
 
1,539
472,365
Broadridge Financial Solutions, Inc.
 
1,783
420,824
Cintas Corp.
 
1,813
409,357
CSX Corp.
 
10,081
368,460
General Dynamics Corp.
 
1,496
424,879
Honeywell International, Inc.
 
2,004
466,792
Illinois Tool Works, Inc.(c)
 
1,674
464,568
L3Harris Technologies, Inc.
 
1,529
376,516
Leidos Holdings, Inc.
 
1,893
313,102
Lockheed Martin Corp.
 
815
431,469
Northrop Grumman Corp.
 
780
381,927
Paychex, Inc.(c)
 
2,543
371,965
Republic Services, Inc.
 
2,419
528,068
RTX Corp.
 
3,428
417,633
Union Pacific Corp.
 
1,612
394,392
Waste Management, Inc.
 
1,848
421,751
 
 
6,664,068
Information Technology-3.01%
Motorola Solutions, Inc.
 
915
457,226
Roper Technologies, Inc.
 
737
417,466
VeriSign, Inc.(b)
 
2,161
404,496
 
 
1,279,188
Materials-5.62%
Avery Dennison Corp.
 
1,930
397,483
Ecolab, Inc.
 
1,531
380,867
Linde PLC
 
994
458,224
LyondellBasell Industries N.V., Class A
 
4,488
374,030
Packaging Corp. of America
 
1,551
385,966
PPG Industries, Inc.
 
3,137
390,149
 
 
2,386,719
Real Estate-5.50%
AvalonBay Communities, Inc.
 
1,658
390,210
Federal Realty Investment Trust
 
3,278
382,379
Realty Income Corp.
 
6,767
391,742
Regency Centers Corp.(c)
 
5,163
390,271
VICI Properties, Inc.
 
11,981
390,700
Welltower, Inc.
 
2,848
393,537
 
 
2,338,839
Utilities-19.22%
Alliant Energy Corp.(c)
 
7,030
444,296
Ameren Corp.
 
4,173
393,889
American Electric Power Co., Inc.
 
3,894
388,855
Atmos Energy Corp.(c)
 
3,417
517,060
CMS Energy Corp.
 
6,229
434,223
Consolidated Edison, Inc.
 
4,317
434,247
DTE Energy Co.
 
3,110
391,176
Duke Energy Corp.
 
3,920
458,836
Edison International
 
4,713
413,566
Evergy, Inc.
 
6,635
428,820
FirstEnergy Corp.
 
10,398
442,435
NiSource, Inc.
 
12,288
468,050
PG&E Corp.
 
18,209
393,861
Pinnacle West Capital Corp.(c)
 
4,078
382,109
PPL Corp.
 
13,308
464,848
Public Service Enterprise Group, Inc.
 
4,794
452,074
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF (XRLV)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
Sempra
 
4,528
$424,138
Southern Co. (The)
 
4,728
421,407
WEC Energy Group, Inc.(c)
 
4,065
410,768
 
 
8,164,658
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.90%
(Cost $35,972,852)
42,439,938
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-9.14%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
1,087,171
1,087,171
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
2,792,618
$2,793,456
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $3,880,627)
3,880,627
TOTAL INVESTMENTS IN SECURITIES-109.04%
(Cost $39,853,479)
46,320,565
OTHER ASSETS LESS LIABILITIES-(9.04)%
(3,839,686
)
NET ASSETS-100.00%
$42,480,879
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$146,693
$(146,693
)
$-
$-
$-
$181
Investments Purchased with
Cash Collateral from Securities
on Loan:
Invesco Private Government Fund
317,405
2,398,633
(1,628,867
)
-
-
1,087,171
4,446
*
Invesco Private Prime Fund
824,233
5,495,719
(3,526,395
)
(55
)
(46
)
2,793,456
11,666
*
Total
$1,141,638
$8,041,045
$(5,301,955
)
$(55
)
$(46
)
$3,880,627
$16,293
 
*
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 November 30, 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 S&P 500® High Beta ETF (SPHB)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-1.78%
Meta Platforms, Inc., Class A
 
6,517
$3,742,843
Netflix, Inc.(b)
 
3,545
3,143,742
 
 
6,886,585
Consumer Discretionary-14.36%
Airbnb, Inc., Class A(b)
 
24,814
3,377,434
Amazon.com, Inc.(b)
 
16,843
3,501,491
Aptiv PLC(b)
 
57,160
3,174,095
Caesars Entertainment, Inc.(b)
 
116,137
4,470,113
CarMax, Inc.(b)(c)
 
44,168
3,708,787
Carnival Corp.(b)
 
156,156
3,971,047
Deckers Outdoor Corp.(b)
 
22,245
4,359,130
Ford Motor Co.
 
269,498
2,999,513
lululemon athletica, inc.(b)
 
9,126
2,926,343
MGM Resorts International(b)(c)
 
94,801
3,634,670
Mohawk Industries, Inc.(b)
 
20,369
2,827,828
Norwegian Cruise Line Holdings Ltd.(b)
 
141,163
3,795,873
PulteGroup, Inc.
 
22,473
3,039,923
Royal Caribbean Cruises Ltd.
 
14,502
3,539,358
Tesla, Inc.(b)
 
17,865
6,166,284
 
 
55,491,889
Consumer Staples-1.56%
Estee Lauder Cos., Inc. (The), Class A
 
45,181
3,258,454
Lamb Weston Holdings, Inc.
 
35,722
2,759,167
 
 
6,017,621
Financials-5.04%
Blackstone, Inc., Class A
 
19,198
3,668,546
Invesco Ltd.(d)
 
173,586
3,140,171
KeyCorp
 
149,531
2,912,864
KKR & Co., Inc., Class A
 
23,851
3,884,612
PayPal Holdings, Inc.(b)
 
34,409
2,985,669
T. Rowe Price Group, Inc.
 
23,306
2,886,215
 
 
19,478,077
Health Care-5.57%
Align Technology, Inc.(b)
 
16,813
3,913,562
Bio-Techne Corp.
 
37,639
2,836,475
Charles River Laboratories International,
Inc.(b)(c)
 
15,866
3,158,286
IDEXX Laboratories, Inc.(b)
 
6,651
2,805,059
Insulet Corp.(b)
 
12,022
3,207,229
IQVIA Holdings, Inc.(b)
 
13,619
2,735,240
Moderna, Inc.(b)
 
67,062
2,887,690
 
 
21,543,541
Industrials-13.98%
Builders FirstSource, Inc.(b)
 
23,852
4,447,682
Carrier Global Corp.
 
40,154
3,106,715
Caterpillar, Inc.
 
6,775
2,751,395
Dayforce, Inc.(b)(c)
 
35,952
2,875,801
Delta Air Lines, Inc.
 
47,503
3,031,642
Eaton Corp. PLC
 
10,062
3,777,476
Equifax, Inc.
 
10,623
2,778,552
Generac Holdings, Inc.(b)
 
18,635
3,507,107
Hubbell, Inc.
 
6,801
3,129,072
Ingersoll Rand, Inc.
 
28,091
2,926,240
Parker-Hannifin Corp.
 
4,396
3,089,948
Quanta Services, Inc.
 
12,908
4,447,064
Rockwell Automation, Inc.
 
10,734
3,168,033
Uber Technologies, Inc.(b)
 
49,770
3,581,449
 
Shares
Value
Industrials-(continued)
United Airlines Holdings, Inc.(b)
 
36,199
$3,505,149
United Rentals, Inc.
 
4,493
3,890,938
 
 
54,014,263
Information Technology-50.79%
Adobe, Inc.(b)
 
5,683
2,932,030
Advanced Micro Devices, Inc.(b)
 
38,934
5,340,771
Amphenol Corp., Class A
 
47,961
3,484,367
Analog Devices, Inc.
 
18,449
4,022,804
ANSYS, Inc.(b)
 
8,466
2,972,413
Applied Materials, Inc.
 
29,825
5,210,726
Arista Networks, Inc.(b)
 
11,745
4,766,356
Autodesk, Inc.(b)
 
10,511
3,068,161
Broadcom, Inc.
 
33,494
5,428,707
Cadence Design Systems, Inc.(b)
 
14,855
4,557,663
CrowdStrike Holdings, Inc., Class A(b)
 
12,908
4,465,781
Dell Technologies, Inc., Class C
 
35,103
4,478,792
Enphase Energy, Inc.(b)
 
59,039
4,212,433
First Solar, Inc.(b)
 
18,968
3,779,753
Gartner, Inc.(b)
 
5,322
2,756,423
Hewlett Packard Enterprise Co.
 
143,809
3,051,627
Intel Corp.
 
200,042
4,811,010
Intuit, Inc.
 
4,555
2,923,080
Jabil, Inc.
 
26,019
3,534,161
Keysight Technologies, Inc.(b)
 
22,009
3,760,018
KLA Corp.
 
8,732
5,649,866
Lam Research Corp.
 
74,008
5,467,711
Microchip Technology, Inc.
 
66,915
4,561,596
Micron Technology, Inc.
 
46,765
4,580,632
Microsoft Corp.
 
6,600
2,794,836
Monolithic Power Systems, Inc.
 
8,665
4,918,601
NetApp, Inc.
 
24,257
2,974,878
NVIDIA Corp.
 
45,086
6,233,139
NXP Semiconductors N.V. (China)
 
20,069
4,603,227
ON Semiconductor Corp.(b)
 
75,535
5,372,049
Oracle Corp.
 
17,006
3,143,389
Palantir Technologies, Inc., Class A(b)
 
106,530
7,146,032
Palo Alto Networks, Inc.(b)
 
7,692
2,983,111
Qorvo, Inc.(b)
 
59,512
4,109,304
QUALCOMM, Inc.
 
28,479
4,514,776
Salesforce, Inc.
 
10,588
3,493,934
Seagate Technology Holdings PLC
 
29,872
3,026,930
ServiceNow, Inc.(b)
 
3,244
3,404,383
Skyworks Solutions, Inc.
 
48,030
4,206,948
Super Micro Computer, Inc.(b)(c)
 
370,749
12,101,247
Synopsys, Inc.(b)
 
8,437
4,711,980
Teradyne, Inc.
 
53,700
5,907,000
Texas Instruments, Inc.
 
15,497
3,115,362
Western Digital Corp.(b)
 
58,849
4,295,388
Zebra Technologies Corp., Class A(b)
 
8,338
3,393,566
 
 
196,266,961
Materials-2.87%
Albemarle Corp.(c)
 
53,953
5,810,738
Celanese Corp.
 
30,603
2,240,446
Freeport-McMoRan, Inc.
 
68,800
3,040,960
 
 
11,092,144
Real Estate-0.86%
BXP, Inc.(c)
 
40,622
3,330,598
Utilities-3.13%
AES Corp. (The)
 
204,300
2,664,072
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® High Beta ETF (SPHB)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
Constellation Energy Corp.
 
15,684
$4,023,887
Vistra Corp.
 
33,816
5,405,149
 
 
12,093,108
Total Common Stocks & Other Equity Interests
(Cost $395,711,024)
386,214,787
Money Market Funds-0.03%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $128,172)
 
128,172
128,172
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $395,839,196)
386,342,959
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-7.89%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
15,584,221
$15,584,221
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
14,887,589
14,892,055
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $30,476,276)
30,476,276
TOTAL INVESTMENTS IN SECURITIES-107.86%
(Cost $426,315,472)
416,819,235
OTHER ASSETS LESS LIABILITIES-(7.86)%
(30,378,092
)
NET ASSETS-100.00%
$386,441,143
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Invesco Ltd.
$3,565,538
$733,531
$(1,308,698
)
$169,428
$(19,628
)
$3,140,171
$34,172
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
135,155
1,306,027
(1,313,010
)
-
-
128,172
2,589
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
6,461,373
61,134,892
(52,012,044
)
-
-
15,584,221
114,137
*
Invesco Private Prime
Fund
16,939,267
86,695,659
(88,739,111
)
(567
)
(3,193
)
14,892,055
291,559
*
Total
$27,101,333
$149,870,109
$(143,372,863
)
$168,861
$(22,821
)
$33,744,619
$442,457
 
*
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 November 30, 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 S&P 500 High Dividend Growers ETF (DIVG)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-3.20%
Comcast Corp., Class A
 
754
$32,565
Interpublic Group of Cos., Inc. (The)
 
1,412
43,504
Omnicom Group, Inc.
 
279
29,245
 
 
105,314
Consumer Discretionary-1.35%
Domino’s Pizza, Inc.
 
37
17,619
Starbucks Corp.
 
262
26,845
 
 
44,464
Consumer Staples-11.93%
Altria Group, Inc.
 
1,613
93,135
Archer-Daniels-Midland Co.
 
634
34,616
Constellation Brands, Inc., Class A
 
69
16,626
Hormel Foods Corp.
 
1,227
39,792
Keurig Dr Pepper, Inc.
 
691
22,561
Kroger Co. (The)
 
418
25,531
Lamb Weston Holdings, Inc.
 
368
28,424
Mondelez International, Inc., Class A
 
373
24,226
PepsiCo, Inc.
 
190
31,056
Philip Morris International, Inc.
 
373
49,631
Procter & Gamble Co. (The)
 
149
26,710
 
 
392,308
Energy-11.11%
Baker Hughes Co., Class A
 
658
28,919
Chevron Corp.
 
307
49,712
ConocoPhillips
 
268
29,035
Coterra Energy, Inc.
 
1,549
41,389
Devon Energy Corp.
 
573
21,745
EOG Resources, Inc.
 
244
32,515
Marathon Petroleum Corp.
 
137
21,393
ONEOK, Inc.
 
471
53,506
Phillips 66
 
269
36,041
Williams Cos., Inc. (The)
 
873
51,088
 
 
365,343
Financials-19.10%
Aflac, Inc.
 
179
20,406
American Express Co.
 
43
13,101
American International Group, Inc.
 
304
23,372
Bank of America Corp.
 
668
31,737
Bank of New York Mellon Corp. (The)
 
363
29,719
BlackRock, Inc.
 
26
26,593
Citigroup, Inc.
 
568
40,254
Fifth Third Bancorp
 
823
39,553
Franklin Resources, Inc.
 
3,254
74,061
Goldman Sachs Group, Inc. (The)
 
49
29,820
Huntington Bancshares, Inc.
 
2,927
52,715
JPMorgan Chase & Co.
 
116
28,967
Morgan Stanley
 
333
43,826
Principal Financial Group, Inc.
 
398
34,662
Prudential Financial, Inc.
 
363
46,976
Regions Financial Corp.
 
1,959
53,402
State Street Corp.
 
394
38,813
 
 
627,977
Health Care-9.29%
AbbVie, Inc.
 
172
31,464
Amgen, Inc.
 
93
26,307
Bristol-Myers Squibb Co.
 
927
54,897
CVS Health Corp.
 
678
40,578
Gilead Sciences, Inc.
 
449
41,568
 
Shares
Value
Health Care-(continued)
Medtronic PLC
 
383
$33,145
Pfizer, Inc.
 
1,966
51,529
UnitedHealth Group, Inc.
 
27
16,475
Zoetis, Inc.
 
54
9,464
 
 
305,427
Industrials-6.69%
Automatic Data Processing, Inc.
 
76
23,327
Fastenal Co.
 
329
27,491
FedEx Corp.
 
80
24,214
General Dynamics Corp.
 
66
18,745
Illinois Tool Works, Inc.
 
90
24,977
Northrop Grumman Corp.
 
31
15,179
Paychex, Inc.
 
220
32,179
Snap-on, Inc.
 
99
36,599
Waste Management, Inc.
 
75
17,116
 
 
219,827
Information Technology-5.46%
Accenture PLC, Class A (Ireland)
 
47
17,031
Amphenol Corp., Class A
 
160
11,624
Analog Devices, Inc.
 
74
16,136
Broadcom, Inc.
 
75
12,156
Hewlett Packard Enterprise Co.
 
1,318
27,968
HP, Inc.
 
919
32,560
Lam Research Corp.
 
142
10,491
Microchip Technology, Inc.
 
314
21,405
NXP Semiconductors N.V. (China)
 
81
18,579
Oracle Corp.
 
63
11,645
 
 
179,595
Materials-2.65%
FMC Corp.(b)
 
634
37,463
LyondellBasell Industries N.V., Class A
 
596
49,671
 
 
87,134
Real Estate-10.33%
Alexandria Real Estate Equities, Inc.
 
401
44,202
Equinix, Inc.
 
24
23,556
Essex Property Trust, Inc.
 
120
37,255
Invitation Homes, Inc.
 
1,027
35,175
Iron Mountain, Inc.
 
206
25,476
Mid-America Apartment Communities, Inc.
 
264
43,338
Prologis, Inc.
 
277
32,348
UDR, Inc.(b)
 
966
44,301
VICI Properties, Inc.(b)
 
1,662
54,198
 
 
339,849
Utilities-18.83%
AES Corp. (The)
 
2,093
27,293
Alliant Energy Corp.
 
548
34,634
Ameren Corp.
 
365
34,452
American Electric Power Co., Inc.
 
372
37,148
American Water Works Co., Inc.
 
162
22,184
Atmos Energy Corp.(b)
 
179
27,086
CMS Energy Corp.
 
439
30,603
Entergy Corp.
 
279
43,571
Evergy, Inc.
 
739
47,762
Eversource Energy
 
693
44,692
FirstEnergy Corp.
 
944
40,167
NextEra Energy, Inc.
 
327
25,725
NiSource, Inc.
 
956
36,414
NRG Energy, Inc.
 
214
21,744
Public Service Enterprise Group, Inc.
 
310
29,233
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 High Dividend Growers ETF (DIVG)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
Sempra
 
395
$37,000
WEC Energy Group, Inc.
 
381
38,500
Xcel Energy, Inc.(b)
 
564
40,924
 
 
619,132
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.94%
(Cost $2,891,409)
3,286,370
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-4.73%
Invesco Private Government Fund, 4.63%(c)(d)(e)
 
43,594
43,594
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(c)(d)(e)
 
111,952
$111,986
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $155,580)
155,580
TOTAL INVESTMENTS IN SECURITIES-104.67%
(Cost $3,046,989)
3,441,950
OTHER ASSETS LESS LIABILITIES-(4.67)%
(153,515
)
NET ASSETS-100.00%
$3,288,435
 
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 November 30, 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 period ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
Value
November 30, 2024
Dividend
Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$32,766
$(32,766
)
$-
$-
$-
$25
Investments Purchased with Cash
Collateral from Securities on Loan:
Invesco Private Government Fund
17,630
111,757
(85,793
)
-
-
43,594
193
*
Invesco Private Prime Fund
43,596
274,083
(205,692
)
(4
)
3
111,986
504
*
Total
$61,226
$418,606
$(324,251
)
$(4
)
$3
$155,580
$722
 
*
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 November 30, 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 S&P 500® High Dividend Low Volatility ETF (SPHD)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.73%
Communication Services-8.72%
AT&T, Inc.
 
4,319,057
$100,029,360
Interpublic Group of Cos., Inc. (The)(b)
 
2,111,748
65,062,956
Omnicom Group, Inc.(b)
 
488,117
51,164,424
Verizon Communications, Inc.
 
2,305,657
102,232,831
 
 
318,489,571
Consumer Discretionary-1.70%
Darden Restaurants, Inc.(b)
 
352,478
62,131,297
Consumer Staples-18.07%
Altria Group, Inc.
 
1,981,805
114,429,421
Conagra Brands, Inc.
 
2,351,157
64,774,375
General Mills, Inc.
 
808,076
53,543,116
Hormel Foods Corp.
 
1,646,967
53,411,140
J.M. Smucker Co. (The)
 
472,560
55,662,843
Kellanova
 
984,177
80,003,748
Kenvue, Inc.
 
3,452,122
83,127,098
Kraft Heinz Co. (The)
 
2,132,329
68,170,558
Philip Morris International, Inc.
 
653,588
86,966,419
 
 
660,088,718
Energy-10.81%
Chevron Corp.
 
367,419
59,496,158
Exxon Mobil Corp.
 
403,807
47,633,074
Kinder Morgan, Inc.
 
3,867,831
109,343,582
ONEOK, Inc.
 
824,008
93,607,309
Williams Cos., Inc. (The)
 
1,450,413
84,878,169
 
 
394,958,292
Financials-1.77%
Prudential Financial, Inc.
 
501,624
64,915,162
Health Care-13.24%
AbbVie, Inc.
 
284,841
52,105,964
Bristol-Myers Squibb Co.
 
1,797,511
106,448,601
Gilead Sciences, Inc.
 
855,484
79,200,709
Johnson & Johnson
 
298,773
46,312,803
Medtronic PLC
 
624,432
54,038,345
Pfizer, Inc.
 
2,820,679
73,929,997
Viatris, Inc.
 
5,476,976
71,693,616
 
 
483,730,035
Industrials-1.95%
United Parcel Service, Inc., Class B
 
524,379
71,168,718
Information Technology-3.47%
Cisco Systems, Inc.
 
1,001,055
59,272,466
International Business Machines Corp.
 
296,529
67,433,660
 
 
126,706,126
Materials-7.00%
Amcor PLC(b)
 
7,193,271
76,536,403
 
Shares
Value
Materials-(continued)
Dow, Inc.
 
1,410,769
$62,370,097
Eastman Chemical Co.(b)
 
483,840
50,667,725
LyondellBasell Industries N.V., Class A
 
795,917
66,331,723
 
 
255,905,948
Real Estate-13.14%
Crown Castle, Inc.
 
865,513
91,960,756
Federal Realty Investment Trust
 
571,401
66,653,927
Host Hotels & Resorts, Inc.
 
3,583,429
66,006,762
Realty Income Corp.
 
1,331,377
77,073,415
Simon Property Group, Inc.
 
485,572
89,151,019
VICI Properties, Inc.
 
2,733,949
89,154,077
 
 
479,999,956
Utilities-19.86%
Dominion Energy, Inc.
 
1,489,830
87,527,512
Duke Energy Corp.
 
535,081
62,631,231
Edison International
 
790,174
69,337,768
Entergy Corp.
 
530,170
82,796,649
Evergy, Inc.
 
1,215,604
78,564,487
Eversource Energy
 
1,103,676
71,176,065
Exelon Corp.
 
1,663,862
65,822,381
FirstEnergy Corp.
 
1,500,194
63,833,255
Pinnacle West Capital Corp.(b)
 
781,096
73,188,695
WEC Energy Group, Inc.
 
699,171
70,651,230
 
 
725,529,273
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.73%
(Cost $3,324,899,083)
3,643,623,096
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-5.98%
Invesco Private Government Fund,
4.63%(c)(d)(e)
 
61,218,001
61,218,001
Invesco Private Prime Fund, 4.71%(c)(d)(e)
 
157,236,630
157,283,801
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $218,503,836)
218,501,802
TOTAL INVESTMENTS IN SECURITIES-105.71%
(Cost $3,543,402,919)
3,862,124,898
OTHER ASSETS LESS LIABILITIES-(5.71)%
(208,681,394
)
NET ASSETS-100.00%
$3,653,443,504
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® High Dividend Low Volatility ETF (SPHD)—(continued)
November 30, 2024
(Unaudited)
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$23,778,359
$(23,778,359
)
$-
$-
$-
$34,239
Investments Purchased
with Cash Collateral
from Securities on Loan:
Invesco Private
Government Fund
44,722,072
126,788,793
(110,292,864
)
-
-
61,218,001
541,924
*
Invesco Private Prime
Fund
116,617,256
269,078,781
(228,400,137
)
(6,785
)
(5,314
)
157,283,801
1,447,910
*
Total
$161,339,328
$419,645,933
$(362,471,360
)
$(6,785
)
$(5,314
)
$218,501,802
$2,024,073
 
*
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 November 30, 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 S&P 500® Low Volatility ETF (SPLV)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-2.19%
Electronic Arts, Inc.
 
477,198
$78,102,996
T-Mobile US, Inc.
 
375,688
92,772,395
 
 
170,875,391
Consumer Discretionary-4.93%
Hilton Worldwide Holdings, Inc.
 
288,448
73,104,261
McDonald’s Corp.
 
251,396
74,415,730
O’Reilly Automotive, Inc.(b)
 
56,682
70,468,196
TJX Cos., Inc. (The)
 
654,999
82,326,824
Yum! Brands, Inc.(c)
 
607,240
84,369,926
 
 
384,684,937
Consumer Staples-14.48%
Altria Group, Inc.
 
1,260,162
72,761,754
Church & Dwight Co., Inc.(c)
 
736,302
81,088,939
Coca-Cola Co. (The)
 
1,682,988
107,845,871
Colgate-Palmolive Co.
 
989,362
95,602,050
Constellation Brands, Inc., Class A
 
302,092
72,789,067
General Mills, Inc.
 
1,069,807
70,885,412
Keurig Dr Pepper, Inc.
 
2,349,915
76,724,725
Kimberly-Clark Corp.
 
551,169
76,805,400
Mondelez International, Inc., Class A
 
1,185,989
77,029,986
PepsiCo, Inc.
 
501,279
81,934,053
Philip Morris International, Inc.
 
551,520
73,385,251
Procter & Gamble Co. (The)(c)
 
543,365
97,403,610
Sysco Corp.(c)
 
899,818
69,384,966
Walmart, Inc.
 
831,843
76,945,477
 
 
1,130,586,561
Energy-3.91%
Chevron Corp.(c)
 
440,525
71,334,213
Kinder Morgan, Inc.
 
2,922,183
82,610,114
ONEOK, Inc.(c)
 
665,972
75,654,419
Williams Cos., Inc. (The)
 
1,286,293
75,273,866
 
 
304,872,612
Financials-18.61%
Ameriprise Financial, Inc.
 
124,669
71,556,266
Arthur J. Gallagher & Co.
 
243,132
75,915,536
Bank of New York Mellon Corp. (The)
 
953,765
78,084,740
Berkshire Hathaway, Inc., Class B(b)
 
210,728
101,785,839
Brown & Brown, Inc.
 
639,906
72,373,369
Chubb Ltd.
 
267,712
77,296,486
CME Group, Inc., Class A
 
348,908
83,040,104
Fiserv, Inc.(b)
 
383,167
84,664,580
Hartford Financial Services Group, Inc.
(The)
 
582,607
71,841,269
Intercontinental Exchange, Inc.
 
510,229
82,126,460
Jack Henry & Associates, Inc.
 
393,723
69,366,118
Loews Corp.
 
1,034,183
89,694,692
Marsh & McLennan Cos., Inc.
 
397,371
92,678,838
Mastercard, Inc., Class A(c)
 
163,518
87,145,283
Nasdaq, Inc.
 
883,979
73,361,417
S&P Global, Inc.
 
153,136
80,015,091
Visa, Inc., Class A
 
265,129
83,536,845
Willis Towers Watson PLC
 
242,932
78,224,104
 
 
1,452,707,037
Health Care-6.86%
Abbott Laboratories
 
632,339
75,102,903
Boston Scientific Corp.(b)
 
900,385
81,628,904
Cencora, Inc.
 
308,871
77,696,500
Hologic, Inc.(b)
 
923,379
73,408,630
 
Shares
Value
Health Care-(continued)
Johnson & Johnson
 
545,052
$84,488,511
Medtronic PLC
 
800,866
69,306,944
Stryker Corp.
 
189,373
74,262,622
 
 
535,895,014
Industrials-16.59%
Automatic Data Processing, Inc.
 
282,381
86,671,200
Broadridge Financial Solutions, Inc.
 
327,108
77,204,030
Cintas Corp.
 
330,964
74,728,362
CSX Corp.
 
1,849,833
67,611,396
General Dynamics Corp.
 
274,422
77,938,592
Honeywell International, Inc.
 
367,707
85,649,992
Illinois Tool Works, Inc.
 
307,172
85,246,374
L3Harris Technologies, Inc.(c)
 
280,658
69,112,033
Leidos Holdings, Inc.
 
347,366
57,454,336
Lockheed Martin Corp.
 
149,517
79,155,795
Northrop Grumman Corp.
 
143,131
70,084,094
Otis Worldwide Corp.(c)
 
708,355
72,946,398
Paychex, Inc.(c)
 
466,768
68,274,155
Republic Services, Inc.(c)
 
444,032
96,932,186
RTX Corp.
 
628,959
76,626,075
Union Pacific Corp.
 
295,803
72,371,162
Waste Management, Inc.
 
336,701
76,841,902
 
 
1,294,848,082
Information Technology-3.00%
Motorola Solutions, Inc.
 
166,355
83,127,593
Roper Technologies, Inc.
 
135,186
76,574,758
VeriSign, Inc.(b)(c)
 
396,517
74,220,052
 
 
233,922,403
Materials-5.60%
Avery Dennison Corp.
 
354,216
72,950,785
Ecolab, Inc.
 
280,946
69,890,937
Linde PLC
 
182,389
84,079,505
LyondellBasell Industries N.V., Class A
 
823,604
68,639,157
Packaging Corp. of America
 
282,044
70,186,649
PPG Industries, Inc.
 
575,720
71,602,297
 
 
437,349,330
Real Estate-5.50%
AvalonBay Communities, Inc.
 
304,235
71,601,707
Federal Realty Investment Trust(c)
 
601,599
70,176,523
Realty Income Corp.
 
1,241,786
71,886,992
Regency Centers Corp.
 
947,543
71,624,775
VICI Properties, Inc.
 
2,198,726
71,700,455
Welltower, Inc.
 
522,409
72,186,476
 
 
429,176,928
Utilities-18.27%
Alliant Energy Corp.(c)
 
1,290,183
81,539,566
American Electric Power Co., Inc.
 
714,523
71,352,267
Atmos Energy Corp.(c)
 
627,123
94,896,252
CMS Energy Corp.(c)
 
1,143,203
79,692,681
Consolidated Edison, Inc.
 
792,219
79,689,309
DTE Energy Co.
 
570,831
71,799,123
Duke Energy Corp.
 
719,409
84,206,824
Edison International
 
864,953
75,899,626
Evergy, Inc.
 
1,217,753
78,703,376
FirstEnergy Corp.
 
1,908,199
81,193,868
NiSource, Inc.(c)
 
2,254,909
85,889,484
PG&E Corp.
 
3,341,432
72,275,174
Pinnacle West Capital Corp.(c)
 
748,515
70,135,856
PPL Corp.
 
2,442,083
85,301,959
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Low Volatility ETF (SPLV)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
Public Service Enterprise Group, Inc.
 
879,631
$82,949,203
Sempra
 
831,116
77,850,636
Southern Co. (The)
 
867,539
77,323,751
WEC Energy Group, Inc.(c)
 
745,869
75,370,062
 
 
1,426,069,017
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.94%
(Cost $6,895,255,228)
7,800,987,312
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-3.21%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
70,123,169
70,123,169
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
180,156,636
$180,210,683
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $250,333,852)
250,333,852
TOTAL INVESTMENTS IN SECURITIES-103.15%
(Cost $7,145,589,080)
8,051,321,164
OTHER ASSETS LESS LIABILITIES-(3.15)%
(245,595,923
)
NET ASSETS-100.00%
$7,805,725,241
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in
Affiliated Money
Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$32,066,803
$(32,066,803
)
$-
$-
$-
$53,527
Investments
Purchased with Cash
Collateral from
Securities on Loan:
Invesco Private
Government Fund
40,111,345
316,116,168
(286,104,344
)
-
-
70,123,169
547,605
*
Invesco Private Prime
Fund
104,439,658
706,756,611
(630,966,105
)
(2,961
)
(16,520
)
180,210,683
1,486,623
*
Total
$144,551,003
$1,054,939,582
$(949,137,252
)
$(2,961
)
$(16,520
)
$250,333,852
$2,087,755
 
*
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 November 30, 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 S&P 500 Minimum Variance ETF (SPMV)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.87%
Communication Services-5.60%
Alphabet, Inc., Class C
 
184
$31,370
AT&T, Inc.
 
711
16,467
Meta Platforms, Inc., Class A
 
32
18,378
T-Mobile US, Inc.
 
809
199,775
Verizon Communications, Inc.
 
1,291
57,243
 
 
323,233
Consumer Discretionary-5.95%
Amazon.com, Inc.(b)
 
870
180,864
Home Depot, Inc. (The)
 
311
133,460
TJX Cos., Inc. (The)
 
235
29,537
 
 
343,861
Consumer Staples-9.93%
Archer-Daniels-Midland Co.
 
273
14,906
General Mills, Inc.(c)
 
1,302
86,271
Hershey Co. (The)(c)
 
334
58,827
Hormel Foods Corp.
 
703
22,798
Kraft Heinz Co. (The)
 
512
16,369
McCormick & Co., Inc.
 
570
44,694
Mondelez International, Inc., Class A
 
2,158
140,162
Procter & Gamble Co. (The)
 
924
165,636
Tyson Foods, Inc., Class A
 
371
23,929
 
 
573,592
Energy-0.66%
Exxon Mobil Corp.
 
321
37,865
Financials-18.81%
American International Group, Inc.
 
190
14,607
Aon PLC, Class A
 
466
182,458
Arch Capital Group Ltd.(b)
 
128
12,892
Arthur J. Gallagher & Co.
 
507
158,306
Berkshire Hathaway, Inc., Class B(b)
 
355
171,472
Brown & Brown, Inc.
 
417
47,163
Chubb Ltd.
 
510
147,252
JPMorgan Chase & Co.
 
143
35,710
Marsh & McLennan Cos., Inc.
 
701
163,494
Progressive Corp. (The)(c)
 
355
95,452
Travelers Cos., Inc. (The)
 
217
57,731
 
 
1,086,537
Health Care-14.87%
Abbott Laboratories
 
1,378
163,665
Amgen, Inc.
 
62
17,538
Biogen, Inc.(b)
 
107
17,187
CVS Health Corp.
 
223
13,347
Elevance Health, Inc.
 
64
26,046
Eli Lilly and Co.
 
48
38,177
Gilead Sciences, Inc.
 
54
4,999
IDEXX Laboratories, Inc.(b)
 
50
21,088
Johnson & Johnson
 
440
68,204
Merck & Co., Inc.
 
1,399
142,194
Pfizer, Inc.
 
2,232
58,501
Regeneron Pharmaceuticals, Inc.(b)
 
82
61,518
Vertex Pharmaceuticals, Inc.(b)
 
284
132,949
Zoetis, Inc.
 
533
93,408
 
 
858,821
Industrials-6.59%
Boeing Co. (The)(b)(c)
 
18
2,798
GE Vernova, Inc.(b)
 
616
205,818
General Dynamics Corp.
 
13
3,692
Republic Services, Inc.
 
147
32,090
 
Shares
Value
Industrials-(continued)
RTX Corp.
 
309
$37,646
Verisk Analytics, Inc.
 
335
98,560
 
 
380,604
Information Technology-27.09%
Accenture PLC, Class A (Ireland)
 
49
17,756
Adobe, Inc.(b)
 
226
116,600
Apple, Inc.
 
722
171,352
Broadcom, Inc.
 
704
114,104
Cisco Systems, Inc.
 
3,271
193,676
International Business Machines Corp.(c)
 
143
32,520
Intuit, Inc.
 
62
39,787
Microsoft Corp.
 
380
160,915
NVIDIA Corp.
 
1,368
189,126
Oracle Corp.
 
659
121,810
QUALCOMM, Inc.
 
964
152,823
Salesforce, Inc.
 
281
92,727
ServiceNow, Inc.(b)
 
96
100,746
Teledyne Technologies, Inc.(b)
 
113
54,834
Trimble, Inc.(b)
 
80
5,838
 
 
1,564,614
Materials-0.45%
Newmont Corp.
 
612
25,667
Real Estate-2.56%
American Tower Corp.
 
513
107,217
Crown Castle, Inc.
 
383
40,694
 
 
147,911
Utilities-7.36%
Ameren Corp.
 
614
57,955
American Electric Power Co., Inc.
 
549
54,823
Duke Energy Corp.
 
664
77,721
NextEra Energy, Inc.
 
1,200
94,404
PG&E Corp.
 
654
14,146
Sempra
 
935
87,581
Southern Co. (The)
 
304
27,096
Xcel Energy, Inc.(c)
 
158
11,465
 
 
425,191
Total Common Stocks & Other Equity Interests
(Cost $5,131,088)
5,767,896
Money Market Funds-0.00%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $5)
 
5
5
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-99.87%
(Cost $5,131,093)
5,767,901
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-4.11%
Invesco Private Government Fund, 4.63%(d)(e)(f)
 
65,852
65,852
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 Minimum Variance ETF (SPMV)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
171,564
$171,615
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $237,467)
237,467
TOTAL INVESTMENTS IN SECURITIES-103.98%
(Cost $5,368,560)
6,005,368
OTHER ASSETS LESS LIABILITIES-(3.98)%
(229,597
)
NET ASSETS-100.00%
$5,775,771
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$1,778
$189,812
$(191,585
)
$-
$-
$5
$61
Investments Purchased with Cash
Collateral from Securities on Loan:
Invesco Private Government Fund
58,373
1,288,933
(1,281,454
)
-
-
65,852
869
*
Invesco Private Prime Fund
151,391
2,131,258
(2,111,022
)
-
(12
)
171,615
2,088
*
Total
$211,542
$3,610,003
$(3,584,061
)
$-
$(12
)
$237,472
$3,018
 
*
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 November 30, 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 S&P 500® Momentum ETF (SPMO)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.95%
Communication Services-8.51%
AT&T, Inc.
 
2,047,240
$47,414,079
Meta Platforms, Inc., Class A
 
456,575
262,220,154
News Corp., Class A
 
103,732
3,044,534
News Corp., Class B(b)
 
31,317
1,004,963
T-Mobile US, Inc.
 
169,927
41,961,773
 
 
355,645,503
Consumer Discretionary-12.69%
Amazon.com, Inc.(c)
 
1,948,225
405,016,495
Chipotle Mexican Grill, Inc.(c)
 
324,782
19,980,589
Deckers Outdoor Corp.(c)
 
39,509
7,742,184
Garmin Ltd.
 
56,486
12,008,923
Hilton Worldwide Holdings, Inc.
 
70,970
17,986,637
NVR, Inc.(c)
 
669
6,178,603
PulteGroup, Inc.
 
55,606
7,521,824
Royal Caribbean Cruises Ltd.
 
49,567
12,097,322
TJX Cos., Inc. (The)
 
336,008
42,232,845
 
 
530,765,422
Consumer Staples-7.11%
Colgate-Palmolive Co.
 
268,130
25,909,402
Costco Wholesale Corp.
 
169,380
164,617,034
Walmart, Inc.
 
1,151,944
106,554,820
 
 
297,081,256
Energy-2.41%
Diamondback Energy, Inc.
 
51,057
9,067,213
Kinder Morgan, Inc.
 
475,021
13,428,844
Marathon Petroleum Corp.
 
69,432
10,841,807
ONEOK, Inc.
 
141,440
16,067,584
Phillips 66
 
93,931
12,584,875
Targa Resources Corp.
 
96,904
19,797,487
Williams Cos., Inc. (The)
 
324,395
18,983,595
 
 
100,771,405
Financials-24.57%
Aflac, Inc.
 
136,772
15,592,008
Allstate Corp. (The)
 
94,032
19,501,296
American Express Co.
 
196,967
60,011,906
American International Group, Inc.
 
177,483
13,644,893
Arthur J. Gallagher & Co.
 
59,967
18,724,096
Bank of New York Mellon Corp. (The)
 
277,684
22,733,989
Berkshire Hathaway, Inc., Class B(c)
 
523,783
252,997,665
Brown & Brown, Inc.
 
76,983
8,706,777
Cboe Global Markets, Inc.
 
26,273
5,671,027
Chubb Ltd.
 
118,103
34,099,879
Citigroup, Inc.
 
523,585
37,106,469
Fifth Third Bancorp
 
173,181
8,323,079
Fiserv, Inc.(c)
 
150,249
33,199,019
Goldman Sachs Group, Inc. (The)
 
100,469
61,142,419
Hartford Financial Services Group, Inc.
(The)
 
131,157
16,172,970
Intercontinental Exchange, Inc.
 
169,811
27,332,779
JPMorgan Chase & Co.
 
889,325
222,082,239
KKR & Co., Inc., Class A
 
334,068
54,409,655
Loews Corp.
 
51,854
4,497,297
Nasdaq, Inc.
 
108,725
9,023,088
Progressive Corp. (The)
 
255,016
68,568,702
Prudential Financial, Inc.
 
103,644
13,412,570
Synchrony Financial
 
103,150
6,964,688
 
Shares
Value
Financials-(continued)
W.R. Berkley Corp.
 
77,138
$4,979,258
Willis Towers Watson PLC
 
26,297
8,467,634
 
 
1,027,365,402
Health Care-9.98%
Amgen, Inc.(b)
 
148,347
41,962,916
Boston Scientific Corp.(c)
 
456,474
41,383,933
Cencora, Inc.
 
44,361
11,159,010
Eli Lilly and Co.
 
282,151
224,408,798
McKesson Corp.
 
54,260
34,102,410
Regeneron Pharmaceuticals, Inc.(c)
 
38,679
29,017,759
Universal Health Services, Inc., Class B
 
17,822
3,653,510
Vertex Pharmaceuticals, Inc.(c)
 
67,463
31,581,454
 
 
417,269,790
Industrials-10.58%
Axon Enterprise, Inc.(c)
 
20,205
13,071,827
Broadridge Financial Solutions, Inc.
 
27,946
6,595,815
Cintas Corp.
 
134,949
30,470,135
Eaton Corp. PLC
 
107,872
40,497,306
General Dynamics Corp.
 
77,786
22,092,002
General Electric Co.
 
479,289
87,307,284
Howmet Aerospace, Inc.
 
160,315
18,978,090
Ingersoll Rand, Inc.
 
133,292
13,885,028
Leidos Holdings, Inc.
 
52,102
8,617,671
Parker-Hannifin Corp.
 
30,178
21,212,116
Republic Services, Inc.
 
64,415
14,061,795
RTX Corp.
 
345,827
42,132,103
Trane Technologies PLC
 
84,801
35,295,872
TransDigm Group, Inc.
 
18,039
22,602,326
United Rentals, Inc.
 
17,566
15,212,156
Veralto Corp.
 
82,271
8,900,899
W.W. Grainger, Inc.
 
11,003
13,262,356
Wabtec Corp.
 
46,474
9,323,614
Waste Management, Inc.
 
81,620
18,627,316
 
 
442,145,711
Information Technology-20.68%
Amphenol Corp., Class A
 
375,982
27,315,092
Arista Networks, Inc.(c)
 
99,471
40,367,321
Broadcom, Inc.
 
1,343,579
217,767,284
Fair Isaac Corp.(c)
 
10,246
24,334,558
Gartner, Inc.(c)
 
18,536
9,600,351
GoDaddy, Inc., Class A(c)
 
69,273
13,686,267
International Business Machines Corp.
 
252,025
57,313,005
KLA Corp.
 
34,660
22,426,060
Motorola Solutions, Inc.
 
55,946
27,956,216
NetApp, Inc.
 
65,024
7,974,543
NVIDIA Corp.
 
2,913,062
402,730,822
Seagate Technology Holdings PLC
 
63,564
6,440,940
Tyler Technologies, Inc.(c)
 
10,625
6,684,931
 
 
864,597,390
Materials-0.66%
Ecolab, Inc.
 
55,198
13,731,606
Martin Marietta Materials, Inc.
 
13,420
8,052,000
Packaging Corp. of America
 
24,036
5,981,359
 
 
27,764,965
Real Estate-0.94%
Iron Mountain, Inc.
 
128,895
15,940,445
Welltower, Inc.
 
168,897
23,338,187
 
 
39,278,632
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Momentum ETF (SPMO)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-1.82%
Constellation Energy Corp.
 
104,736
$26,871,068
NRG Energy, Inc.
 
99,303
10,090,178
Public Service Enterprise Group, Inc.
 
124,591
11,748,931
Vistra Corp.
 
170,110
27,190,383
 
 
75,900,560
Total Common Stocks & Other Equity Interests
(Cost $3,899,796,462)
4,178,586,036
Money Market Funds-0.01%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $386,487)
 
386,487
386,487
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.96%
(Cost $3,900,182,949)
4,178,972,523
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-1.02%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
11,971,671
$11,971,671
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
30,774,502
30,783,734
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $42,755,405)
42,755,405
TOTAL INVESTMENTS IN SECURITIES-100.98%
(Cost $3,942,938,354)
4,221,727,928
OTHER ASSETS LESS LIABILITIES-(0.98)%
(40,882,486
)
NET ASSETS-100.00%
$4,180,845,442
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$1,656,178
$34,989,630
$(36,259,321
)
$-
$-
$386,487
$17,327
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
943,439
35,922,158
(24,893,926
)
-
-
11,971,671
27,345
*
Invesco Private Prime Fund
2,461,876
83,147,326
(54,824,660
)
(225
)
(583
)
30,783,734
70,798
*
Total
$5,061,493
$154,059,114
$(115,977,907
)
$(225
)
$(583
)
$43,141,892
$115,470
 
*
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 November 30, 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 S&P 500 QVM Multi-factor ETF (QVML)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.88%
Communication Services-9.83%
Alphabet, Inc., Class C
 
265,574
$45,277,711
AT&T, Inc.
 
151,535
3,509,551
Charter Communications, Inc., Class A(b)
 
2,368
940,013
Comcast Corp., Class A
 
91,217
3,939,662
Electronic Arts, Inc.
 
5,876
961,725
Fox Corp., Class A
 
8,460
398,635
Interpublic Group of Cos., Inc. (The)
 
9,065
279,293
Meta Platforms, Inc., Class A
 
51,080
29,336,266
Netflix, Inc.(b)
 
10,119
8,973,630
News Corp., Class A
 
12,386
363,529
Omnicom Group, Inc.
 
4,572
479,237
Paramount Global, Class B
 
11,815
128,193
Take-Two Interactive Software, Inc.(b)(c)
 
3,840
723,379
T-Mobile US, Inc.
 
11,757
2,903,274
Verizon Communications, Inc.
 
91,465
4,055,558
Walt Disney Co. (The)
 
42,498
4,992,240
Warner Bros. Discovery, Inc.(b)
 
57,781
605,545
 
 
107,867,441
Consumer Discretionary-7.67%
Airbnb, Inc., Class A(b)
 
10,175
1,384,919
Amazon.com, Inc.(b)
 
202,640
42,126,830
Aptiv PLC(b)
 
6,771
375,994
AutoZone, Inc.(b)
 
402
1,274,155
Best Buy Co., Inc.
 
4,512
406,080
Booking Holdings, Inc.
 
789
4,104,362
BorgWarner, Inc.
 
5,794
198,850
Caesars Entertainment, Inc.(b)
 
5,105
196,491
CarMax, Inc.(b)
 
4,031
338,483
Carnival Corp.(b)
 
22,992
584,687
Chipotle Mexican Grill, Inc.(b)
 
31,448
1,934,681
D.R. Horton, Inc.
 
6,888
1,162,557
Darden Restaurants, Inc.(c)
 
2,740
482,980
Deckers Outdoor Corp.(b)
 
3,701
725,248
eBay, Inc.
 
11,226
710,493
Expedia Group, Inc.(b)
 
3,098
571,953
Ford Motor Co.
 
95,832
1,066,610
Garmin Ltd.
 
3,521
748,565
General Motors Co.
 
28,964
1,610,109
Genuine Parts Co.
 
3,366
426,573
Home Depot, Inc. (The)
 
22,491
9,651,563
Lennar Corp., Class A
 
5,714
996,464
LKQ Corp.(c)
 
6,512
255,856
lululemon athletica, inc.(b)
 
2,654
851,032
MGM Resorts International(b)(c)
 
6,074
232,877
Mohawk Industries, Inc.(b)
 
1,263
175,342
NIKE, Inc., Class B
 
29,329
2,310,245
Norwegian Cruise Line Holdings Ltd.(b)
 
9,658
259,704
NVR, Inc.(b)
 
74
683,433
Pool Corp.
 
888
334,856
PulteGroup, Inc.
 
4,804
649,837
Ralph Lauren Corp.
 
909
210,343
Ross Stores, Inc.
 
7,620
1,180,109
Royal Caribbean Cruises Ltd.
 
5,476
1,336,473
Tapestry, Inc.
 
5,136
319,870
TJX Cos., Inc. (The)
 
25,688
3,228,725
Tractor Supply Co.
 
2,379
674,851
Ulta Beauty, Inc.(b)
 
1,035
400,172
 
 
84,182,372
Consumer Staples-5.89%
Altria Group, Inc.
 
39,571
2,284,830
 
Shares
Value
Consumer Staples-(continued)
Archer-Daniels-Midland Co.
 
11,643
$635,708
Bunge Global S.A.
 
3,410
306,013
Church & Dwight Co., Inc.(c)
 
5,496
605,274
Coca-Cola Co. (The)
 
90,060
5,771,045
Colgate-Palmolive Co.
 
18,759
1,812,682
Conagra Brands, Inc.
 
10,797
297,457
Constellation Brands, Inc., Class A
 
3,548
854,891
Costco Wholesale Corp.
 
10,020
9,738,238
Dollar General Corp.
 
5,153
398,172
Dollar Tree, Inc.(b)(c)
 
5,991
426,979
General Mills, Inc.
 
12,715
842,496
Hershey Co. (The)(c)
 
3,269
575,769
Hormel Foods Corp.(c)
 
7,064
229,086
Kellanova
 
6,053
492,048
Kenvue, Inc.(c)
 
41,474
998,694
Keurig Dr Pepper, Inc.
 
23,502
767,340
Kimberly-Clark Corp.
 
7,748
1,079,684
Kraft Heinz Co. (The)
 
18,118
579,232
Kroger Co. (The)
 
15,759
962,560
Lamb Weston Holdings, Inc.(c)
 
3,255
251,416
McCormick & Co., Inc.
 
5,557
435,724
Molson Coors Beverage Co., Class B(c)
 
4,152
257,673
Mondelez International, Inc., Class A
 
29,524
1,917,584
Monster Beverage Corp.(b)
 
15,343
845,860
PepsiCo, Inc.
 
30,807
5,035,404
Philip Morris International, Inc.
 
34,856
4,637,939
Procter & Gamble Co. (The)
 
53,481
9,587,004
Sysco Corp.
 
11,606
894,939
Target Corp.(c)
 
10,992
1,454,352
The Campbell’s Company(c)
 
4,535
209,517
Tyson Foods, Inc., Class A
 
6,797
438,406
Walgreens Boots Alliance, Inc.(c)
 
17,264
155,721
Walmart, Inc.
 
96,192
8,897,760
 
 
64,677,497
Energy-3.87%
APA Corp.
 
9,914
224,552
Baker Hughes Co., Class A
 
24,286
1,067,370
Chevron Corp.
 
41,896
6,784,219
ConocoPhillips
 
29,683
3,215,856
Coterra Energy, Inc.
 
18,052
482,349
Devon Energy Corp.
 
16,146
612,741
Diamondback Energy, Inc.
 
4,712
836,804
EOG Resources, Inc.
 
14,305
1,906,284
EQT Corp.
 
13,780
626,163
Exxon Mobil Corp.
 
110,026
12,978,667
Halliburton Co.
 
22,417
714,206
Hess Corp.
 
6,880
1,012,598
Kinder Morgan, Inc.
 
45,548
1,287,642
Marathon Petroleum Corp.
 
8,963
1,399,573
Occidental Petroleum Corp.
 
17,252
872,606
ONEOK, Inc.
 
13,621
1,547,346
Phillips 66
 
10,841
1,452,477
Schlumberger N.V.
 
36,158
1,588,783
Targa Resources Corp.
 
5,144
1,050,919
Valero Energy Corp.
 
8,224
1,143,794
Williams Cos., Inc. (The)
 
28,519
1,668,932
 
 
42,473,881
Financials-15.15%
Aflac, Inc.
 
12,120
1,381,680
Allstate Corp. (The)
 
6,171
1,279,804
American Express Co.
 
13,187
4,017,815
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 QVM Multi-factor ETF (QVML)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Financials-(continued)
American International Group, Inc.
 
16,143
$1,241,074
Ameriprise Financial, Inc.
 
2,334
1,339,646
Aon PLC, Class A
 
4,938
1,933,425
Arch Capital Group Ltd.(b)
 
8,783
884,624
Arthur J. Gallagher & Co.
 
4,958
1,548,086
Assurant, Inc.
 
1,267
287,736
Bank of America Corp.
 
161,945
7,694,007
Bank of New York Mellon Corp. (The)
 
17,081
1,398,421
Berkshire Hathaway, Inc., Class B(b)
 
43,565
21,042,766
BlackRock, Inc.
 
3,289
3,363,989
Blackstone, Inc., Class A
 
16,187
3,093,174
Brown & Brown, Inc.
 
5,631
636,866
Capital One Financial Corp.
 
9,372
1,799,518
Cboe Global Markets, Inc.
 
2,334
503,794
Charles Schwab Corp. (The)
 
34,915
2,889,565
Chubb Ltd.
 
9,259
2,673,351
Cincinnati Financial Corp.
 
3,656
584,338
Citigroup, Inc.
 
47,501
3,366,396
Citizens Financial Group, Inc.
 
11,251
541,623
CME Group, Inc., Class A
 
8,095
1,926,610
Corpay, Inc.(b)
 
1,657
631,615
Discover Financial Services
 
6,129
1,118,113
Everest Group Ltd.
 
1,038
402,287
FactSet Research Systems, Inc.
 
848
416,088
Fidelity National Information Services, Inc.
 
12,508
1,066,932
Fifth Third Bancorp
 
16,186
777,899
Fiserv, Inc.(b)
 
13,617
3,008,812
Franklin Resources, Inc.(c)
 
7,027
159,935
Global Payments, Inc.
 
5,904
702,340
Globe Life, Inc.
 
1,983
220,589
Goldman Sachs Group, Inc. (The)
 
7,955
4,841,174
Hartford Financial Services Group, Inc.
(The)
 
6,860
845,907
Huntington Bancshares, Inc.
 
34,758
625,992
Intercontinental Exchange, Inc.
 
13,202
2,124,994
Invesco Ltd.(d)
 
11,050
199,895
Jack Henry & Associates, Inc.
 
1,651
290,873
JPMorgan Chase & Co.
 
71,420
17,835,002
KeyCorp
 
23,017
448,371
KKR & Co., Inc., Class A
 
15,864
2,583,770
Loews Corp.
 
4,362
378,316
M&T Bank Corp.
 
3,960
871,160
MarketAxess Holdings, Inc.
 
819
211,867
Marsh & McLennan Cos., Inc.
 
11,154
2,601,447
Mastercard, Inc., Class A
 
18,547
9,884,438
MetLife, Inc.
 
14,109
1,244,837
Moody’s Corp.
 
3,647
1,823,427
Morgan Stanley
 
30,440
4,006,208
Nasdaq, Inc.
 
9,305
772,222
Northern Trust Corp.
 
4,873
541,683
PayPal Holdings, Inc.(b)
 
24,901
2,160,660
PNC Financial Services Group, Inc. (The)
 
9,472
2,033,828
Principal Financial Group, Inc.
 
5,064
441,024
Progressive Corp. (The)
 
13,491
3,627,460
Prudential Financial, Inc.
 
8,643
1,118,491
Raymond James Financial, Inc.(c)
 
4,386
742,462
Regions Financial Corp.
 
22,225
605,854
S&P Global, Inc.
 
7,259
3,792,900
State Street Corp.
 
7,249
714,099
Synchrony Financial
 
10,018
676,415
T. Rowe Price Group, Inc.
 
5,181
641,615
Travelers Cos., Inc. (The)
 
5,162
1,373,299
 
Shares
Value
Financials-(continued)
Truist Financial Corp.
 
32,539
$1,551,460
U.S. Bancorp
 
37,518
1,999,334
Visa, Inc., Class A(c)
 
34,958
11,014,567
W.R. Berkley Corp.
 
7,230
466,697
Wells Fargo & Co.
 
86,425
6,582,992
Willis Towers Watson PLC
 
2,379
766,038
 
 
166,373,696
Health Care-10.23%
Abbott Laboratories
 
38,497
4,572,289
AbbVie, Inc.
 
40,649
7,435,922
Agilent Technologies, Inc.(c)
 
6,879
949,096
Align Technology, Inc.(b)
 
1,680
391,054
Baxter International, Inc.
 
11,215
378,058
Becton, Dickinson and Co.
 
6,829
1,515,355
Boston Scientific Corp.(b)
 
33,045
2,995,860
Cardinal Health, Inc.
 
5,530
675,987
Cencora, Inc.
 
3,825
962,179
Centene Corp.(b)
 
13,044
782,640
Charles River Laboratories International,
Inc.(b)(c)
 
1,199
238,673
Cigna Group (The)
 
6,558
2,215,292
Cooper Cos., Inc. (The)(b)
 
4,424
462,131
CVS Health Corp.
 
29,174
1,746,064
Danaher Corp.
 
14,888
3,568,505
DaVita, Inc.(b)
 
1,196
198,739
Edwards Lifesciences Corp.(b)
 
14,071
1,003,966
Elevance Health, Inc.
 
5,426
2,208,165
Eli Lilly and Co.
 
18,990
15,103,696
GE HealthCare Technologies, Inc.
 
9,411
783,183
Gilead Sciences, Inc.
 
27,701
2,564,559
HCA Healthcare, Inc.
 
4,511
1,476,089
Henry Schein, Inc.(b)
 
3,137
241,706
Hologic, Inc.(b)
 
5,407
429,856
Humana, Inc.
 
2,965
878,767
IDEXX Laboratories, Inc.(b)
 
1,847
778,972
Incyte Corp.(b)
 
3,767
280,980
Intuitive Surgical, Inc.(b)
 
8,108
4,394,536
IQVIA Holdings, Inc.(b)
 
4,400
883,696
Johnson & Johnson
 
55,261
8,566,008
Labcorp Holdings, Inc.
 
2,049
494,137
McKesson Corp.
 
3,255
2,045,767
Medtronic PLC
 
29,655
2,566,344
Merck & Co., Inc.
 
59,579
6,055,610
Moderna, Inc.(b)(c)
 
7,394
318,386
Molina Healthcare, Inc.(b)
 
1,355
403,654
Quest Diagnostics, Inc.
 
2,596
422,265
Regeneron Pharmaceuticals, Inc.(b)
 
2,508
1,881,552
ResMed, Inc.
 
3,242
807,323
Revvity, Inc.(c)
 
2,846
330,534
Solventum Corp.(b)
 
3,003
214,745
STERIS PLC
 
2,246
492,009
Stryker Corp.
 
7,599
2,979,948
Teleflex, Inc.
 
1,076
207,507
Thermo Fisher Scientific, Inc.
 
8,664
4,588,714
UnitedHealth Group, Inc.
 
21,017
12,824,573
Universal Health Services, Inc., Class B
 
1,421
291,305
Vertex Pharmaceuticals, Inc.(b)
 
6,150
2,878,999
Viatris, Inc.
 
28,894
378,222
Waters Corp.(b)(c)
 
1,432
550,919
West Pharmaceutical Services, Inc.
 
1,721
560,495
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 QVM Multi-factor ETF (QVML)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Health Care-(continued)
Zimmer Biomet Holdings, Inc.
 
5,146
$576,867
Zoetis, Inc.
 
10,052
1,761,613
 
 
112,313,511
Industrials-8.84%
3M Co.
 
13,037
1,740,831
A.O. Smith Corp.
 
2,936
218,703
Allegion PLC
 
2,021
284,638
AMETEK, Inc.
 
5,458
1,060,926
Automatic Data Processing, Inc.
 
9,285
2,849,845
Axon Enterprise, Inc.(b)
 
1,631
1,055,192
Broadridge Financial Solutions, Inc.
 
2,713
640,322
Builders FirstSource, Inc.(b)
 
2,846
530,694
C.H. Robinson Worldwide, Inc.
 
2,821
297,841
Carrier Global Corp.
 
18,867
1,459,740
Caterpillar, Inc.
 
11,852
4,813,216
Cintas Corp.
 
7,734
1,746,260
Copart, Inc.(b)
 
21,226
1,345,516
CSX Corp.
 
45,831
1,675,123
Cummins, Inc.
 
3,338
1,251,884
Dayforce, Inc.(b)(c)
 
3,552
284,124
Deere & Co.(c)
 
5,854
2,727,379
Delta Air Lines, Inc.
 
14,106
900,245
Dover Corp.
 
3,193
657,439
Eaton Corp. PLC
 
9,408
3,531,951
Emerson Electric Co.
 
13,747
1,822,852
Equifax, Inc.
 
2,900
758,524
Expeditors International of Washington,
Inc.
 
3,232
393,141
Fastenal Co.
 
12,881
1,076,336
FedEx Corp.
 
5,409
1,637,142
Fortive Corp.
 
8,228
652,727
GE Vernova, Inc.(b)
 
6,015
2,009,732
Generac Holdings, Inc.(b)
 
1,491
280,606
General Dynamics Corp.
 
5,182
1,471,740
General Electric Co.
 
26,193
4,771,317
Honeywell International, Inc.
 
15,115
3,520,737
Howmet Aerospace, Inc.
 
9,078
1,074,654
Hubbell, Inc.
 
1,247
573,732
Huntington Ingalls Industries, Inc.
 
986
195,149
IDEX Corp.
 
1,817
419,055
Illinois Tool Works, Inc.(c)
 
6,340
1,759,477
Ingersoll Rand, Inc.
 
9,389
978,052
J.B. Hunt Transport Services, Inc.
 
1,900
359,309
Jacobs Solutions, Inc.
 
3,032
428,209
Johnson Controls International PLC
 
15,835
1,327,923
L3Harris Technologies, Inc.
 
4,519
1,112,804
Leidos Holdings, Inc.
 
3,219
532,423
Lockheed Martin Corp.
 
4,876
2,581,403
Masco Corp.
 
5,125
412,870
Norfolk Southern Corp.
 
5,195
1,433,041
Northrop Grumman Corp.
 
3,216
1,574,714
Old Dominion Freight Line, Inc.
 
4,146
933,430
PACCAR, Inc.
 
12,185
1,425,645
Parker-Hannifin Corp.
 
3,021
2,123,461
Paychex, Inc.(c)
 
7,216
1,055,484
Paycom Software, Inc.(c)
 
1,058
245,371
Pentair PLC
 
3,833
417,759
Quanta Services, Inc.
 
3,487
1,201,341
Republic Services, Inc.
 
4,748
1,036,488
Rockwell Automation, Inc.
 
2,736
807,503
Rollins, Inc.
 
6,475
325,887
RTX Corp.
 
31,333
3,817,299
 
Shares
Value
Industrials-(continued)
Snap-on, Inc.
 
1,233
$455,828
Southwest Airlines Co.
 
13,834
447,668
Stanley Black & Decker, Inc.
 
3,674
328,639
Textron, Inc.
 
4,583
392,442
Trane Technologies PLC
 
5,278
2,196,809
Uber Technologies, Inc.(b)
 
49,650
3,572,814
Union Pacific Corp.
 
14,381
3,518,455
United Airlines Holdings, Inc.(b)
 
6,821
660,477
United Parcel Service, Inc., Class B
 
16,622
2,255,938
United Rentals, Inc.
 
1,598
1,383,868
Veralto Corp.
 
5,169
559,234
Verisk Analytics, Inc.
 
3,281
965,303
W.W. Grainger, Inc.
 
994
1,198,108
Wabtec Corp.
 
4,151
832,774
Waste Management, Inc.
 
8,491
1,937,816
Xylem, Inc.
 
5,849
741,361
 
 
97,066,740
Information Technology-32.08%
Accenture PLC, Class A (Ireland)
 
13,989
5,069,194
Adobe, Inc.(b)
 
10,101
5,211,409
Advanced Micro Devices, Inc.(b)
 
36,501
5,007,025
Akamai Technologies, Inc.(b)
 
3,656
343,737
Amphenol Corp., Class A
 
29,740
2,160,611
Analog Devices, Inc.
 
11,787
2,570,155
ANSYS, Inc.(b)
 
2,014
707,115
Apple, Inc.
 
338,886
80,427,814
Applied Materials, Inc.
 
20,080
3,508,177
Arista Networks, Inc.(b)
 
5,958
2,417,876
Autodesk, Inc.(b)
 
4,862
1,419,218
Broadcom, Inc.
 
102,254
16,573,328
Cadence Design Systems, Inc.(b)
 
6,298
1,932,289
CDW Corp.
 
3,201
563,152
Cisco Systems, Inc.
 
94,927
5,620,628
Cognizant Technology Solutions Corp.,
Class A
 
11,549
929,579
Corning, Inc.
 
17,576
855,424
CrowdStrike Holdings, Inc., Class A(b)
 
5,747
1,988,290
EPAM Systems, Inc.(b)
 
1,302
317,584
F5, Inc.(b)
 
1,353
338,724
First Solar, Inc.(b)
 
2,316
461,509
Fortinet, Inc.(b)
 
14,457
1,374,138
Gartner, Inc.(b)
 
1,750
906,377
Gen Digital, Inc.
 
12,781
394,294
GoDaddy, Inc., Class A(b)
 
3,549
701,176
Hewlett Packard Enterprise Co.
 
34,977
742,212
HP, Inc.
 
21,316
755,226
Intel Corp.
 
108,826
2,617,265
International Business Machines Corp.
 
20,155
4,583,449
Intuit, Inc.
 
6,252
4,012,096
Jabil, Inc.
 
2,939
399,204
Juniper Networks, Inc.
 
7,483
268,789
Keysight Technologies, Inc.(b)
 
4,136
706,594
KLA Corp.
 
3,356
2,171,433
Lam Research Corp.
 
31,890
2,356,033
Microchip Technology, Inc.
 
13,059
890,232
Micron Technology, Inc.
 
26,782
2,623,297
Microsoft Corp.
 
167,522
70,938,866
Monolithic Power Systems, Inc.
 
1,158
657,327
Motorola Solutions, Inc.
 
3,853
1,925,344
NetApp, Inc.
 
4,878
598,238
NVIDIA Corp.
 
574,172
79,379,279
NXP Semiconductors N.V. (China)
 
6,468
1,483,565
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 QVM Multi-factor ETF (QVML)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Information Technology-(continued)
ON Semiconductor Corp.(b)
 
10,813
$769,021
Palo Alto Networks, Inc.(b)
 
7,811
3,029,262
PTC, Inc.(b)
 
2,896
579,374
Qorvo, Inc.(b)
 
2,372
163,787
QUALCOMM, Inc.
 
26,805
4,249,397
Roper Technologies, Inc.
 
2,459
1,392,876
Salesforce, Inc.
 
22,427
7,400,686
ServiceNow, Inc.(b)
 
4,558
4,783,347
Skyworks Solutions, Inc.
 
3,932
344,404
Super Micro Computer, Inc.(b)(c)
 
11,270
367,853
Synopsys, Inc.(b)
 
3,750
2,094,337
TE Connectivity PLC (Switzerland)
 
7,429
1,122,670
Teledyne Technologies, Inc.(b)
 
1,098
532,815
Teradyne, Inc.
 
3,621
398,310
Texas Instruments, Inc.
 
22,001
4,422,861
Tyler Technologies, Inc.(b)
 
986
620,362
Western Digital Corp.(b)
 
7,608
555,308
Zebra Technologies Corp., Class A(b)
 
1,204
490,028
 
 
352,223,970
Materials-2.01%
Amcor PLC
 
34,794
370,208
Avery Dennison Corp.
 
1,865
384,097
Ball Corp.
 
6,932
430,893
Celanese Corp.
 
2,481
181,634
CF Industries Holdings, Inc.
 
4,467
400,511
Corteva, Inc.
 
16,496
1,026,711
Dow, Inc.
 
16,919
747,989
DuPont de Nemours, Inc.
 
10,042
839,411
Eastman Chemical Co.
 
2,773
290,389
Ecolab, Inc.
 
5,877
1,462,021
FMC Corp.(c)
 
3,080
181,997
Freeport-McMoRan, Inc.
 
35,085
1,550,757
International Flavors & Fragrances, Inc.
 
5,867
536,009
International Paper Co.(c)
 
8,129
478,229
Linde PLC
 
11,271
5,195,818
LyondellBasell Industries N.V., Class A
 
6,156
513,041
Martin Marietta Materials, Inc.
 
1,477
886,200
Mosaic Co. (The)
 
8,404
222,370
Nucor Corp.
 
6,022
931,543
Packaging Corp. of America
 
2,085
518,852
PPG Industries, Inc.
 
5,542
689,259
Sherwin-Williams Co. (The)
 
5,288
2,101,451
Smurfit WestRock PLC
 
12,885
708,933
Steel Dynamics, Inc.
 
3,720
540,405
Vulcan Materials Co.
 
3,171
913,660
 
 
22,102,388
Real Estate-1.75%
Alexandria Real Estate Equities, Inc.
 
3,555
391,868
AvalonBay Communities, Inc.
 
3,175
747,236
BXP, Inc.(c)
 
3,260
267,287
Camden Property Trust
 
2,519
316,890
CBRE Group, Inc., Class A(b)
 
6,772
948,012
CoStar Group, Inc.(b)(c)
 
9,032
734,663
Digital Realty Trust, Inc.
 
7,077
1,384,898
Equity Residential
 
7,667
587,752
Essex Property Trust, Inc.
 
1,445
448,615
Extra Space Storage, Inc.
 
4,858
830,524
Federal Realty Investment Trust
 
1,682
196,205
Healthpeak Properties, Inc.
 
16,134
354,787
Host Hotels & Resorts, Inc.
 
16,901
311,316
Invitation Homes, Inc.
 
13,439
460,286
 
Shares
Value
Real Estate-(continued)
Kimco Realty Corp.
 
15,066
$385,238
Mid-America Apartment Communities, Inc.
 
2,624
430,756
Prologis, Inc.
 
20,628
2,408,938
Public Storage
 
3,462
1,204,949
Realty Income Corp.
 
19,678
1,139,159
Regency Centers Corp.
 
3,783
285,957
Simon Property Group, Inc.
 
7,618
1,398,665
UDR, Inc.(c)
 
6,688
306,712
Ventas, Inc.
 
8,769
561,830
VICI Properties, Inc.
 
23,504
766,465
Welltower, Inc.
 
12,793
1,767,737
Weyerhaeuser Co.
 
16,408
529,322
 
 
19,166,067
Utilities-2.56%
Alliant Energy Corp.(c)
 
5,770
364,664
Ameren Corp.
 
5,986
565,019
American Electric Power Co., Inc.
 
11,694
1,167,763
American Water Works Co., Inc.
 
4,320
591,581
Atmos Energy Corp.(c)
 
3,338
505,106
CenterPoint Energy, Inc.
 
14,234
464,313
CMS Energy Corp.
 
6,674
465,245
Consolidated Edison, Inc.
 
7,723
776,857
Constellation Energy Corp.
 
7,544
1,935,489
Dominion Energy, Inc.
 
18,659
1,096,216
DTE Energy Co.
 
4,753
597,832
Duke Energy Corp.
 
17,243
2,018,293
Edison International
 
9,057
794,752
Entergy Corp.
 
4,813
751,646
Evergy, Inc.
 
5,156
333,232
Eversource Energy
 
7,994
515,533
Exelon Corp.
 
22,079
873,445
FirstEnergy Corp.
 
11,741
499,580
NextEra Energy, Inc.
 
45,165
3,553,131
NiSource, Inc.
 
10,114
385,242
NRG Energy, Inc.
 
5,047
512,826
PG&E Corp.
 
48,819
1,055,955
Pinnacle West Capital Corp.(c)
 
2,625
245,962
PPL Corp.
 
16,802
586,894
Public Service Enterprise Group, Inc.
 
11,148
1,051,256
Sempra
 
14,560
1,363,835
Southern Co. (The)
 
24,256
2,161,937
Vistra Corp.
 
7,943
1,269,609
WEC Energy Group, Inc.
 
7,030
710,381
Xcel Energy, Inc.(c)
 
12,138
880,733
 
 
28,094,327
Total Common Stocks & Other Equity Interests
(Cost $780,503,245)
1,096,541,890
Money Market Funds-0.02%
Invesco Government & Agency Portfolio,
Institutional Class, 4.57%(d)(e)
(Cost $247,044)
 
247,044
247,044
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.90%
(Cost $780,750,289)
1,096,788,934
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500 QVM Multi-factor ETF (QVML)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-2.05%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
6,298,358
$6,298,358
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
16,178,494
16,183,348
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $22,481,706)
22,481,706
TOTAL INVESTMENTS IN SECURITIES-101.95%
(Cost $803,231,995)
1,119,270,640
OTHER ASSETS LESS LIABILITIES-(1.95)%
(21,377,371
)
NET ASSETS-100.00%
$1,097,893,269
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Invesco Ltd.
$183,324
$5,411
$-
$11,160
$-
$199,895
$2,265
Investments in Affiliated
Money Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
12,957
4,345,048
(4,110,961
)
-
-
247,044
7,071
Investments Purchased with
Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
2,884,175
22,735,785
(19,321,602
)
-
-
6,298,358
50,264
*
Invesco Private Prime Fund
7,510,966
50,216,411
(41,543,320
)
(499
)
(210
)
16,183,348
129,691
*
Total
$10,591,422
$77,302,655
$(64,975,883
)
$10,661
$(210
)
$22,928,645
$189,291
 
*
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 November 30, 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 S&P MidCap 400 QVM Multi-factor ETF (QVMM)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-100.03%(a)
Communication Services-1.00%
Frontier Communications Parent, Inc.(b)
 
21,405
$745,108
New York Times Co. (The), Class A
 
20,529
1,113,904
Nexstar Media Group, Inc., Class A(c)
 
3,966
676,560
Warner Music Group Corp., Class A
 
17,173
558,466
ZoomInfo Technologies, Inc., Class A(b)(c)
 
34,331
375,581
 
 
3,469,619
Consumer Discretionary-14.55%
Abercrombie & Fitch Co., Class A(b)
 
6,879
1,029,717
Aramark
 
30,356
1,235,186
Autoliv, Inc. (Sweden)
 
9,521
943,721
AutoNation, Inc.(b)
 
3,299
590,158
Boyd Gaming Corp.(c)
 
8,223
607,268
Brunswick Corp.
 
8,415
677,492
Burlington Stores, Inc.(b)
 
7,669
2,161,738
Capri Holdings Ltd.(b)(c)
 
12,319
288,388
Carter’s, Inc.
 
4,180
228,103
Churchill Downs, Inc.
 
7,934
1,127,501
Columbia Sportswear Co.(c)
 
4,034
351,926
Crocs, Inc.(b)
 
8,289
875,318
Dick’s Sporting Goods, Inc.
 
7,930
1,643,413
Duolingo, Inc.(b)
 
4,217
1,468,655
Floor & Decor Holdings, Inc., Class A(b)(c)
 
13,511
1,516,069
GameStop Corp., Class A(b)
 
36,600
1,063,230
Gap, Inc. (The)
 
29,260
709,555
Gentex Corp.(c)
 
29,633
905,584
Goodyear Tire & Rubber Co. (The)(b)(c)
 
39,241
421,448
Graham Holdings Co., Class B
 
451
419,935
Grand Canyon Education, Inc.(b)
 
3,661
602,564
H&R Block, Inc.(c)
 
16,802
996,023
Harley-Davidson, Inc.(c)
 
15,638
525,906
Hilton Grand Vacations, Inc.(b)(c)
 
8,968
380,153
Hyatt Hotels Corp., Class A(c)
 
5,658
893,624
KB Home
 
9,245
764,931
Lear Corp.
 
7,667
750,139
Light & Wonder, Inc.(b)(c)
 
10,810
1,027,382
Lithia Motors, Inc., Class A
 
3,774
1,460,161
Macy’s, Inc.
 
35,080
569,699
Marriott Vacations Worldwide Corp.(c)
 
4,188
415,659
Mattel, Inc.(b)(c)
 
42,887
815,711
Murphy USA, Inc.
 
2,237
1,225,429
Nordstrom, Inc.
 
11,849
269,091
Ollie’s Bargain Outlet Holdings, Inc.(b)(c)
 
6,820
674,839
Penske Automotive Group, Inc.
 
2,660
442,996
Polaris, Inc.
 
6,901
476,169
PVH Corp.
 
7,184
778,530
Service Corp. International(c)
 
17,188
1,522,685
Skechers U.S.A., Inc., Class A(b)
 
16,540
1,055,583
Taylor Morrison Home Corp., Class A(b)
 
13,348
986,017
Tempur Sealy International, Inc.(c)
 
22,409
1,254,456
Texas Roadhouse, Inc.
 
8,280
1,699,636
Thor Industries, Inc.(c)
 
6,967
777,517
Toll Brothers, Inc.
 
12,888
2,128,711
TopBuild Corp.(b)
 
4,079
1,593,421
Travel + Leisure Co.
 
9,049
505,568
Under Armour, Inc., Class A(b)(c)
 
51,679
501,803
Valvoline, Inc.(b)(c)
 
16,368
649,973
Visteon Corp.(b)
 
3,686
344,162
Wendy’s Co. (The)
 
19,997
367,145
Whirlpool Corp.(c)
 
7,029
783,171
Williams-Sonoma, Inc.(c)
 
15,393
2,647,904
Wingstop, Inc.
 
3,471
1,141,161
 
Shares
Value
Consumer Discretionary-(continued)
Wyndham Hotels & Resorts, Inc.
 
9,778
$960,004
YETI Holdings, Inc.(b)
 
10,983
443,384
 
 
50,695,712
Consumer Staples-4.67%
BellRing Brands, Inc.(b)
 
15,054
1,181,137
BJ’s Wholesale Club Holdings, Inc.(b)(c)
 
16,213
1,561,312
Boston Beer Co., Inc. (The), Class A(b)
 
1,117
353,240
Casey’s General Stores, Inc.
 
4,300
1,809,827
Celsius Holdings, Inc.(b)(c)
 
20,529
584,050
Coca-Cola Consolidated, Inc.
 
589
768,227
Coty, Inc., Class A(b)(c)
 
46,143
340,997
Darling Ingredients, Inc.(b)(c)
 
23,209
940,661
Flowers Foods, Inc.
 
23,414
529,625
Ingredion, Inc.
 
7,850
1,156,619
Lancaster Colony Corp.
 
2,382
442,671
Performance Food Group Co.(b)
 
19,485
1,719,356
Pilgrim’s Pride Corp.(b)(c)
 
5,519
284,836
Post Holdings, Inc.(b)
 
6,101
735,048
Sprouts Farmers Market, Inc.(b)
 
12,428
1,919,877
US Foods Holding Corp.(b)
 
27,644
1,928,722
 
 
16,256,205
Energy-4.67%
Antero Midstream Corp.
 
42,563
679,731
Antero Resources Corp.(b)
 
35,635
1,164,908
ChampionX Corp.
 
25,184
779,445
Chord Energy Corp.
 
8,312
1,059,946
Civitas Resources, Inc.
 
12,655
656,541
CNX Resources Corp.(b)
 
18,786
761,209
DT Midstream, Inc.
 
12,264
1,301,456
Expand Energy Corp.
 
13,729
1,358,622
HF Sinclair Corp.
 
19,849
812,419
Matador Resources Co.
 
15,921
955,419
Murphy Oil Corp.(c)
 
19,003
617,027
NOV, Inc.
 
52,985
848,820
Ovintiv, Inc.
 
32,961
1,497,089
PBF Energy, Inc., Class A
 
13,812
434,940
Permian Resources Corp.
 
67,142
1,051,444
Range Resources Corp.
 
29,793
1,064,802
Valaris Ltd.(b)(c)
 
8,358
386,056
Weatherford International PLC
 
10,245
843,163
 
 
16,273,037
Financials-18.80%
Affiliated Managers Group, Inc.
 
4,018
753,536
Ally Financial, Inc.
 
43,033
1,720,459
American Financial Group, Inc.
 
7,895
1,159,460
Associated Banc-Corp
 
19,769
527,635
Bank OZK
 
13,804
689,786
Brighthouse Financial, Inc.(b)(c)
 
8,294
433,527
Cadence Bank(c)
 
23,359
892,080
CNO Financial Group, Inc.
 
14,094
562,351
Columbia Banking System, Inc.
 
26,880
833,549
Commerce Bancshares, Inc.
 
14,878
1,097,252
Cullen/Frost Bankers, Inc.
 
8,163
1,147,881
East West Bancorp, Inc.
 
17,889
1,962,065
Equitable Holdings, Inc.
 
39,872
1,923,027
Essent Group Ltd.
 
13,289
767,838
Euronet Worldwide, Inc.(b)(c)
 
5,791
608,808
Evercore, Inc., Class A
 
4,500
1,385,550
F.N.B. Corp.
 
46,816
802,894
Federated Hermes, Inc., Class B
 
9,670
413,392
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Financials-(continued)
Fidelity National Financial, Inc.
 
31,393
$1,990,002
First American Financial Corp.
 
12,293
862,354
First Financial Bankshares, Inc.
 
15,800
658,544
First Horizon Corp.
 
71,218
1,504,836
FirstCash Holdings, Inc.
 
4,680
509,465
Glacier Bancorp, Inc.
 
15,146
876,802
Hancock Whitney Corp.
 
11,492
682,395
Hanover Insurance Group, Inc. (The)
 
4,381
722,909
Home BancShares, Inc.(c)
 
23,438
744,391
Houlihan Lokey, Inc.
 
6,494
1,227,950
Interactive Brokers Group, Inc., Class A
 
13,461
2,572,262
International Bancshares Corp.
 
6,778
495,675
Janus Henderson Group PLC
 
16,433
744,086
Jefferies Financial Group, Inc.
 
21,582
1,707,999
Kemper Corp.
 
7,641
546,255
Kinsale Capital Group, Inc.
 
2,858
1,453,122
MGIC Investment Corp.
 
33,287
874,117
Morningstar, Inc.
 
3,204
1,134,697
Old National Bancorp
 
41,117
952,270
Old Republic International Corp.
 
31,639
1,232,972
Pinnacle Financial Partners, Inc.
 
10,067
1,279,616
Primerica, Inc.
 
4,343
1,314,843
Prosperity Bancshares, Inc.
 
11,760
984,665
Reinsurance Group of America, Inc.
 
8,255
1,885,442
RenaissanceRe Holdings Ltd. (Bermuda)
 
6,327
1,810,471
RLI Corp.
 
4,964
873,168
Ryan Specialty Holdings, Inc., Class A
 
12,646
953,508
SEI Investments Co.
 
12,144
1,003,459
Selective Insurance Group, Inc.
 
7,562
772,005
SLM Corp.
 
28,939
792,350
SouthState Corp.
 
9,629
1,065,834
Starwood Property Trust, Inc.(c)
 
38,304
780,252
Stifel Financial Corp.
 
13,035
1,509,453
Synovus Financial Corp.(c)
 
18,895
1,078,338
Texas Capital Bancshares, Inc.(b)
 
5,539
489,925
UMB Financial Corp.
 
5,404
678,148
United Bankshares, Inc.
 
17,360
733,807
Unum Group
 
22,174
1,705,181
Valley National Bancorp
 
54,868
583,796
Voya Financial, Inc.
 
11,394
945,702
Webster Financial Corp.
 
22,150
1,368,427
Western Union Co. (The)
 
41,946
461,825
WEX, Inc.(b)(c)
 
4,990
941,413
Wintrust Financial Corp.
 
8,298
1,145,207
Zions Bancorporation N.A.
 
19,446
1,176,872
 
 
65,507,900
Health Care-7.51%
Acadia Healthcare Co., Inc.(b)(c)
 
11,801
479,475
Avantor, Inc.(b)
 
78,082
1,644,407
BioMarin Pharmaceutical, Inc.(b)
 
24,455
1,614,764
Bruker Corp.
 
12,239
709,250
Chemed Corp.
 
1,873
1,072,086
DENTSPLY SIRONA, Inc.(c)
 
25,418
499,464
Doximity, Inc., Class A(b)(c)
 
14,674
777,722
Encompass Health Corp.
 
12,229
1,258,853
Enovis Corp.(b)(c)
 
6,462
315,410
Envista Holdings Corp.(b)(c)
 
21,296
474,688
Exelixis, Inc.(b)(c)
 
34,085
1,242,739
Globus Medical, Inc., Class A(b)(c)
 
14,151
1,211,467
Haemonetics Corp.(b)(c)
 
6,343
554,822
Halozyme Therapeutics, Inc.(b)(c)
 
16,380
789,516
HealthEquity, Inc.(b)(c)
 
11,027
1,119,682
 
Shares
Value
Health Care-(continued)
Jazz Pharmaceuticals PLC(b)(c)
 
8,326
$1,012,358
Lantheus Holdings, Inc.(b)
 
8,666
773,614
LivaNova PLC(b)
 
6,884
361,410
Masimo Corp.(b)(c)
 
5,474
944,484
Medpace Holdings, Inc.(b)
 
2,993
1,019,506
Neogen Corp.(b)(c)
 
26,691
378,478
Neurocrine Biosciences, Inc.(b)
 
12,601
1,597,177
Option Care Health, Inc.(b)(c)
 
20,544
488,947
Perrigo Co. PLC
 
17,766
507,042
Repligen Corp.(b)(c)
 
6,548
985,736
Roivant Sciences Ltd.(b)(c)
 
40,026
508,730
Tenet Healthcare Corp.(b)
 
12,300
1,754,964
United Therapeutics Corp.(b)
 
5,576
2,065,852
 
 
26,162,643
Industrials-24.22%
AAON, Inc.
 
8,504
1,159,435
Acuity Brands, Inc.
 
3,749
1,202,267
Advanced Drainage Systems, Inc.
 
8,938
1,209,222
AECOM
 
17,031
1,992,116
AGCO Corp.(c)
 
7,588
767,982
Applied Industrial Technologies, Inc.
 
4,801
1,318,931
Brink’s Co. (The)
 
5,612
542,737
BWX Technologies, Inc.
 
11,674
1,527,543
CACI International, Inc., Class A(b)
 
2,776
1,276,627
Carlisle Cos., Inc.
 
6,024
2,751,161
Clean Harbors, Inc.(b)
 
6,157
1,601,374
Comfort Systems USA, Inc.
 
4,511
2,225,141
Concentrix Corp.(c)
 
6,161
276,937
Core & Main, Inc., Class A(b)
 
25,286
1,227,635
Crane Co.
 
6,297
1,146,558
Curtiss-Wright Corp.
 
4,819
1,800,523
Donaldson Co., Inc.
 
14,943
1,166,301
EMCOR Group, Inc.
 
5,743
2,929,619
EnerSys
 
5,140
496,832
ESAB Corp.
 
7,389
953,772
ExlService Holdings, Inc.(b)
 
19,754
915,795
Exponent, Inc.
 
6,280
619,899
Flowserve Corp.
 
17,171
1,047,774
Fluor Corp.(b)
 
23,094
1,296,266
Fortune Brands Innovations, Inc.
 
14,979
1,172,856
FTI Consulting, Inc.(b)(c)
 
4,370
885,012
GATX Corp.(c)
 
4,517
741,511
Genpact Ltd.
 
20,114
928,462
Graco, Inc.
 
20,550
1,871,694
GXO Logistics, Inc.(b)(c)
 
14,618
889,213
Hexcel Corp.
 
10,331
654,882
Insperity, Inc.
 
4,674
368,545
ITT, Inc.
 
10,409
1,625,053
KBR, Inc.
 
18,304
1,113,432
Kirby Corp.(b)
 
7,301
923,650
Knight-Swift Transportation Holdings, Inc.
 
20,194
1,198,716
Landstar System, Inc.
 
4,357
810,053
Lennox International, Inc.
 
3,993
2,663,850
Lincoln Electric Holdings, Inc.
 
7,495
1,637,508
ManpowerGroup, Inc.
 
6,075
391,048
MasTec, Inc.(b)
 
7,649
1,101,915
Maximus, Inc.
 
7,816
582,292
Middleby Corp. (The)(b)(c)
 
6,965
998,711
MSA Safety, Inc.
 
4,723
820,905
MSC Industrial Direct Co., Inc., Class A(c)
 
5,728
491,921
Nextracker, Inc., Class A(b)(c)
 
16,717
637,921
nVent Electric PLC
 
21,140
1,655,473
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Industrials-(continued)
Oshkosh Corp.
 
8,659
$983,749
Owens Corning
 
10,947
2,250,922
Paylocity Holding Corp.(b)
 
5,321
1,104,320
RB Global, Inc. (Canada)
 
22,373
2,187,185
RBC Bearings, Inc.(b)(c)
 
3,647
1,222,146
Regal Rexnord Corp.
 
8,994
1,553,354
Ryder System, Inc.
 
5,746
970,155
Saia, Inc.(b)(c)
 
2,840
1,616,187
Science Applications International Corp.
 
5,984
743,512
Sensata Technologies Holding PLC
 
20,110
646,335
Simpson Manufacturing Co., Inc.
 
5,355
1,008,882
Terex Corp.
 
9,110
499,137
Tetra Tech, Inc.
 
32,609
1,353,600
Timken Co. (The)
 
8,301
642,913
Toro Co. (The)
 
14,077
1,225,825
Trex Co., Inc.(b)(c)
 
13,053
979,367
UFP Industries, Inc.
 
7,929
1,077,551
Valmont Industries, Inc.
 
2,570
894,000
Watsco, Inc.(c)
 
3,947
2,177,165
Watts Water Technologies, Inc., Class A
 
3,379
729,154
WESCO International, Inc.
 
5,591
1,182,888
Woodward, Inc.
 
7,373
1,329,499
XPO, Inc.(b)
 
15,515
2,364,641
 
 
84,359,557
Information Technology-7.84%
Altair Engineering, Inc., Class A(b)(c)
 
7,194
759,758
Amkor Technology, Inc.
 
13,519
357,442
AppFolio, Inc., Class A(b)
 
2,601
660,004
Arrow Electronics, Inc.(b)
 
6,922
831,748
ASGN, Inc.(b)
 
5,926
542,525
Aspen Technology, Inc.(b)(c)
 
3,464
866,000
Avnet, Inc.
 
11,915
651,870
Belden, Inc.
 
5,310
649,944
Ciena Corp.(b)(c)
 
18,723
1,305,368
Cirrus Logic, Inc.(b)
 
6,884
719,034
Cognex Corp.
 
21,621
864,408
Coherent Corp.(b)
 
16,422
1,644,827
Commvault Systems, Inc.(b)
 
5,549
952,153
Crane NXT Co.
 
6,089
381,659
Dolby Laboratories, Inc., Class A
 
7,339
574,790
IPG Photonics Corp.(b)(c)
 
3,679
287,109
Kyndryl Holdings, Inc.(b)
 
28,671
995,170
Lattice Semiconductor Corp.(b)
 
17,402
987,563
Littelfuse, Inc.
 
3,276
808,091
MACOM Technology Solutions Holdings,
Inc.(b)
 
7,068
938,772
Manhattan Associates, Inc.(b)
 
7,269
2,074,863
Novanta, Inc.(b)
 
4,716
787,478
Onto Innovation, Inc.(b)
 
6,472
1,062,573
Pure Storage, Inc., Class A(b)
 
39,327
2,083,938
Qualys, Inc.(b)(c)
 
4,464
685,670
Rambus, Inc.(b)(c)
 
13,981
808,242
Silicon Laboratories, Inc.(b)
 
4,194
464,066
Synaptics, Inc.(b)(c)
 
5,332
427,840
TD SYNNEX Corp.
 
10,217
1,215,721
Universal Display Corp.
 
4,997
822,106
Vishay Intertechnology, Inc.
 
16,752
319,963
Vontier Corp.
 
20,341
798,588
 
 
27,329,283
Materials-7.08%
Alcoa Corp.
 
31,739
1,473,642
 
Shares
Value
Materials-(continued)
AptarGroup, Inc.
 
8,056
$1,393,366
Arcadium Lithium PLC (Argentina)(b)(c)
 
128,298
673,564
Ashland, Inc.
 
6,363
496,696
Avient Corp.
 
11,760
602,700
Axalta Coating Systems Ltd.(b)(c)
 
27,985
1,132,273
Berry Global Group, Inc.
 
14,352
1,037,793
Cabot Corp.
 
6,853
751,226
Cleveland-Cliffs, Inc.(b)
 
66,790
831,535
Commercial Metals Co.
 
15,251
940,834
Crown Holdings, Inc.
 
14,358
1,322,228
Eagle Materials, Inc.
 
4,205
1,299,009
Graphic Packaging Holding Co.
 
37,953
1,142,006
Greif, Inc., Class A
 
3,254
231,132
Knife River Corp.(b)
 
6,779
701,626
Louisiana-Pacific Corp.
 
7,863
929,407
NewMarket Corp.
 
850
453,526
Olin Corp.
 
15,294
651,371
Reliance, Inc.
 
7,239
2,325,456
Royal Gold, Inc.(c)
 
8,078
1,181,488
RPM International, Inc.
 
15,169
2,105,154
Silgan Holdings, Inc.
 
10,237
588,935
Sonoco Products Co.
 
12,368
641,652
United States Steel Corp.(c)
 
30,409
1,239,775
Westlake Corp.
 
4,120
529,008
 
 
24,675,402
Real Estate-6.90%
Agree Realty Corp.
 
11,552
887,194
American Homes 4 Rent, Class A
 
38,207
1,462,946
Brixmor Property Group, Inc.
 
36,200
1,088,534
COPT Defense Properties(c)
 
13,677
450,657
Cousins Properties, Inc.
 
18,021
571,987
CubeSmart
 
26,189
1,297,927
EastGroup Properties, Inc.
 
5,848
1,007,084
EPR Properties
 
9,021
409,283
First Industrial Realty Trust, Inc.
 
16,194
865,569
Gaming and Leisure Properties, Inc.
 
32,371
1,670,667
Healthcare Realty Trust, Inc.(c)
 
44,149
808,810
Independence Realty Trust, Inc.(c)
 
27,383
598,045
Jones Lang LaSalle, Inc.(b)
 
5,728
1,607,277
Kilroy Realty Corp.(c)
 
13,356
554,675
Kite Realty Group Trust
 
26,339
726,166
Lamar Advertising Co., Class A
 
10,615
1,422,622
National Storage Affiliates Trust
 
8,360
377,036
NNN REIT, Inc.(c)
 
21,283
936,026
Omega Healthcare Investors, Inc.(c)
 
29,109
1,182,116
Park Hotels & Resorts, Inc.
 
28,180
438,199
PotlatchDeltic Corp.
 
9,721
435,890
Rayonier, Inc.(c)
 
16,380
522,031
Rexford Industrial Realty, Inc.(c)
 
26,401
1,110,954
Sabra Health Care REIT, Inc.
 
26,337
493,292
STAG Industrial, Inc.
 
22,570
830,350
Vornado Realty Trust(c)
 
19,289
830,391
W.P. Carey, Inc.(c)
 
25,310
1,444,189
 
 
24,029,917
Utilities-2.79%
ALLETE, Inc.
 
6,884
446,634
Black Hills Corp.
 
8,190
524,733
Essential Utilities, Inc.
 
30,101
1,204,943
IDACORP, Inc.
 
5,988
709,398
National Fuel Gas Co.
 
10,867
695,162
New Jersey Resources Corp.
 
11,836
610,501
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Utilities-(continued)
NorthWestern Energy Group, Inc.
 
7,311
$403,860
OGE Energy Corp.
 
23,785
1,045,589
ONE Gas, Inc.
 
6,604
514,914
Ormat Technologies, Inc.(c)
 
6,510
531,346
Portland General Electric Co.
 
12,406
594,495
Southwest Gas Holdings, Inc.
 
7,531
588,623
Spire, Inc.
 
7,041
515,331
TXNM Energy, Inc.(c)
 
10,827
531,064
UGI Corp.(c)
 
26,645
809,209
 
 
9,725,802
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.03%
(Cost $260,824,703)
348,485,077
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-15.39%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
15,023,584
$15,023,584
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
38,588,268
38,599,844
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $53,623,554)
53,623,428
TOTAL INVESTMENTS IN SECURITIES-115.42%
(Cost $314,448,257)
402,108,505
OTHER ASSETS LESS LIABILITIES-(15.42)%
(53,733,066
)
NET ASSETS-100.00%
$348,375,439
 
Investment Abbreviations:
REIT
-Real Estate Investment Trust
 
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
Non-income producing security.
(c)
All or a portion of this security was out on loan at November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$269,035
$1,372,010
$(1,641,045
)
$-
$-
$-
$1,367
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
11,496,566
34,115,116
(30,588,098
)
-
-
15,023,584
148,135
*
Invesco Private Prime Fund
26,933,411
65,147,355
(53,477,426
)
(2,186
)
(1,310
)
38,599,844
391,497
*
Total
$38,699,012
$100,634,481
$(85,706,569
)
$(2,186
)
$(1,310
)
$53,623,428
$540,999
 
*
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 November 30, 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 S&P MidCap Low Volatility ETF (XMLV)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.90%
Communication Services-1.18%
New York Times Co. (The), Class A
 
187,708
$10,185,036
Consumer Discretionary-3.36%
Aramark
 
229,500
9,338,355
Columbia Sportswear Co.(b)
 
107,992
9,421,222
Gentex Corp.(b)
 
333,925
10,204,748
 
 
28,964,325
Consumer Staples-6.46%
Flowers Foods, Inc.
 
486,690
11,008,928
Ingredion, Inc.
 
81,787
12,050,496
Performance Food Group Co.(c)
 
105,709
9,327,762
Post Holdings, Inc.(b)(c)
 
109,354
13,174,970
US Foods Holding Corp.(c)
 
145,592
10,157,954
 
 
55,720,110
Energy-2.83%
Antero Midstream Corp.
 
700,294
11,183,695
DT Midstream, Inc.
 
124,479
13,209,712
 
 
24,393,407
Financials-28.08%
Affiliated Managers Group, Inc.
 
50,306
9,434,387
American Financial Group, Inc.
 
83,909
12,322,876
Annaly Capital Management, Inc.(b)
 
518,977
10,343,212
Commerce Bancshares, Inc.
 
132,758
9,790,903
Essent Group Ltd.
 
183,940
10,628,053
Federated Hermes, Inc., Class B
 
257,482
11,007,355
Fidelity National Financial, Inc.
 
152,629
9,675,152
Hanover Insurance Group, Inc. (The)
 
68,466
11,297,575
Houlihan Lokey, Inc.
 
52,124
9,856,127
Janus Henderson Group PLC(b)
 
214,587
9,716,499
Jefferies Financial Group, Inc.
 
126,472
10,008,994
MGIC Investment Corp.
 
390,437
10,252,876
Morningstar, Inc.
 
29,495
10,445,654
Old Republic International Corp.
 
320,540
12,491,444
Primerica, Inc.
 
35,067
10,616,534
Reinsurance Group of America, Inc.
 
43,085
9,840,614
RLI Corp.
 
68,409
12,033,143
SEI Investments Co.
 
152,624
12,611,321
Starwood Property Trust, Inc.(b)
 
470,714
9,588,444
Stifel Financial Corp.
 
83,776
9,701,261
Unum Group
 
132,281
10,172,409
Voya Financial, Inc.(b)
 
125,132
10,385,956
Western Union Co. (The)
 
892,467
9,826,062
 
 
242,046,851
Health Care-3.61%
Chemed Corp.(b)
 
17,692
10,126,724
Encompass Health Corp.
 
101,166
10,414,028
Ensign Group, Inc. (The)
 
72,032
10,531,799
 
 
31,072,551
Industrials-10.73%
AECOM
 
86,414
10,107,845
CACI International, Inc., Class A(c)
 
20,774
9,553,547
Curtiss-Wright Corp.
 
27,319
10,207,198
Donaldson Co., Inc.
 
152,645
11,913,942
Flowserve Corp.
 
151,981
9,273,881
Graco, Inc.(b)
 
132,972
12,111,090
Landstar System, Inc.
 
52,755
9,808,210
Maximus, Inc.
 
111,802
8,329,249
MSA Safety, Inc.(b)
 
64,116
11,144,002
 
 
92,448,964
 
Shares
Value
Information Technology-2.29%
Dolby Laboratories, Inc., Class A
 
137,892
$10,799,701
TD SYNNEX Corp.
 
74,739
8,893,194
 
 
19,692,895
Materials-6.29%
AptarGroup, Inc.
 
78,104
13,508,868
NewMarket Corp.
 
16,839
8,984,617
RPM International, Inc.
 
73,483
10,197,971
Silgan Holdings, Inc.
 
185,180
10,653,405
Sonoco Products Co.
 
209,676
10,877,991
 
 
54,222,852
Real Estate-19.11%
Agree Realty Corp.
 
159,658
12,261,734
American Homes 4 Rent, Class A
 
302,352
11,577,058
Brixmor Property Group, Inc.
 
356,108
10,708,167
COPT Defense Properties(b)
 
321,897
10,606,506
EastGroup Properties, Inc.(b)
 
61,781
10,639,306
EPR Properties
 
244,078
11,073,819
Equity LifeStyle Properties, Inc.
 
162,904
11,619,942
First Industrial Realty Trust, Inc.
 
187,097
10,000,335
Gaming and Leisure Properties, Inc.(b)
 
250,237
12,914,732
Kite Realty Group Trust
 
360,228
9,931,486
NNN REIT, Inc.(b)
 
273,615
12,033,588
Omega Healthcare Investors, Inc.(b)
 
271,167
11,012,092
Sabra Health Care REIT, Inc.(b)
 
537,541
10,068,143
STAG Industrial, Inc.
 
278,953
10,262,681
W.P. Carey, Inc.(b)
 
175,215
9,997,768
 
 
164,707,357
Utilities-15.96%
ALLETE, Inc.
 
187,921
12,192,315
Black Hills Corp.
 
166,404
10,661,504
Essential Utilities, Inc.
 
241,472
9,666,124
IDACORP, Inc.(b)
 
106,238
12,586,016
National Fuel Gas Co.
 
174,568
11,167,115
New Jersey Resources Corp.
 
236,542
12,200,836
NorthWestern Energy Group, Inc.
 
195,688
10,809,805
OGE Energy Corp.
 
289,813
12,740,180
ONE Gas, Inc.(b)
 
131,718
10,270,052
Portland General Electric Co.(b)
 
231,946
11,114,852
Spire, Inc.
 
166,963
12,220,022
TXNM Energy, Inc.
 
243,743
11,955,594
 
 
137,584,415
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.90%
(Cost $740,380,733)
861,038,763
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-10.62%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
25,655,757
25,655,757
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap Low Volatility ETF (XMLV)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
65,894,692
$65,914,460
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $91,570,217)
91,570,217
TOTAL INVESTMENTS IN SECURITIES-110.52%
(Cost $831,950,950)
952,608,980
OTHER ASSETS LESS LIABILITIES-(10.52)%
(90,683,591
)
NET ASSETS-100.00%
$861,925,389
 
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 November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$67,904
$5,154,908
$(5,222,812
)
$-
$-
$-
$5,664
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
13,390,433
74,782,965
(62,517,641
)
-
-
25,655,757
186,016
*
Invesco Private Prime Fund
34,972,828
153,066,631
(122,119,996
)
(1,226
)
(3,777
)
65,914,460
495,482
*
Total
$48,431,165
$233,004,504
$(189,860,449
)
$(1,226
)
$(3,777
)
$91,570,217
$687,162
 
*
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 November 30, 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 S&P SmallCap 600 QVM Multi-factor ETF (QVMS)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.97%
Communication Services-2.55%
Cable One, Inc.
 
816
$342,899
CarGurus, Inc.(b)
 
13,249
501,077
Cars.com, Inc.(b)
 
10,363
205,913
Cinemark Holdings, Inc.(b)(c)
 
16,552
571,375
Cogent Communications Holdings, Inc.
 
6,719
552,235
EchoStar Corp., Class A(b)(c)
 
16,258
411,165
Gogo, Inc.(b)(c)
 
10,285
82,589
IAC, Inc.(b)
 
11,634
550,637
John Wiley & Sons, Inc., Class A
 
7,498
391,246
QuinStreet, Inc.(b)(c)
 
8,630
196,591
Scholastic Corp.
 
4,237
111,772
Shenandoah Telecommunications Co.
 
8,445
112,572
Shutterstock, Inc.
 
4,112
130,268
Telephone and Data Systems, Inc.
 
16,496
563,833
Thryv Holdings, Inc.(b)
 
5,424
85,808
TripAdvisor, Inc.(b)
 
19,046
272,929
Yelp, Inc.(b)
 
11,288
431,427
 
 
5,514,336
Consumer Discretionary-13.90%
Academy Sports & Outdoors, Inc.(c)
 
11,916
586,863
Adtalem Global Education, Inc.(b)
 
6,410
585,938
Advance Auto Parts, Inc.(c)
 
11,147
460,928
American Axle & Manufacturing Holdings,
Inc.(b)
 
21,303
140,813
American Eagle Outfitters, Inc.
 
31,714
610,177
Asbury Automotive Group, Inc.(b)(c)
 
3,693
959,552
BJ’s Restaurants, Inc.(b)(c)
 
3,972
152,684
Bloomin’ Brands, Inc.
 
14,966
208,626
Boot Barn Holdings, Inc.(b)(c)
 
4,384
601,222
Brinker International, Inc.(b)
 
7,270
961,603
Buckle, Inc. (The)
 
4,777
248,834
Caleres, Inc.
 
5,955
185,022
Cavco Industries, Inc.(b)
 
1,274
655,473
Century Communities, Inc.
 
4,722
426,680
Cheesecake Factory, Inc. (The)(c)
 
8,093
409,830
Cracker Barrel Old Country Store, Inc.(c)
 
3,836
213,128
Dana, Inc.
 
24,930
249,300
Dave & Buster’s Entertainment, Inc.(b)(c)
 
5,150
202,498
Dorman Products, Inc.(b)
 
4,611
645,448
Ethan Allen Interiors, Inc.
 
3,943
121,168
Foot Locker, Inc.
 
16,824
423,124
Frontdoor, Inc.(b)
 
12,516
733,438
Gentherm, Inc.(b)
 
5,559
234,034
G-III Apparel Group Ltd.(b)
 
5,518
163,498
Golden Entertainment, Inc.
 
3,552
119,844
Green Brick Partners, Inc.(b)
 
4,293
306,778
Group 1 Automotive, Inc.
 
2,338
995,520
Guess?, Inc.
 
4,842
79,699
Hanesbrands, Inc.(b)(c)
 
57,738
502,321
Installed Building Products, Inc.
 
4,053
927,083
Kohl’s Corp.
 
17,947
268,667
Kontoor Brands, Inc.
 
8,262
758,286
La-Z-Boy, Inc.
 
6,940
314,174
LCI Industries
 
4,292
518,516
LGI Homes, Inc.(b)(c)
 
3,375
369,529
M/I Homes, Inc.(b)
 
4,603
759,633
MarineMax, Inc.(b)
 
3,378
115,933
Meritage Homes Corp.
 
5,994
1,145,274
Mister Car Wash, Inc.(b)(c)
 
15,982
127,856
Monarch Casino & Resort, Inc.
 
2,133
179,193
Monro, Inc.
 
5,222
146,843
 
Shares
Value
Consumer Discretionary-(continued)
National Vision Holdings, Inc.(b)(c)
 
12,876
$155,800
Newell Brands, Inc.
 
59,157
567,316
ODP Corp. (The)(b)
 
5,599
143,782
Oxford Industries, Inc.(c)
 
2,452
203,933
Patrick Industries, Inc.(c)
 
3,387
455,179
PENN Entertainment, Inc.(b)
 
25,133
542,621
Perdoceo Education Corp.
 
11,041
303,075
PHINIA, Inc.
 
7,684
430,919
Revelyst, Inc.(b)
 
9,454
178,681
Sally Beauty Holdings, Inc.(b)(c)
 
17,573
244,792
Shake Shack, Inc., Class A(b)
 
6,026
805,857
Shoe Carnival, Inc.(c)
 
2,921
98,613
Signet Jewelers Ltd.(c)
 
7,688
770,338
Six Flags Entertainment Corp.
 
16,739
773,174
Sonic Automotive, Inc., Class A
 
2,756
190,550
Sonos, Inc.(b)
 
21,621
294,262
Standard Motor Products, Inc.
 
3,069
100,909
Steven Madden Ltd.
 
11,430
520,979
Strategic Education, Inc.
 
3,652
360,854
Stride, Inc.(b)(c)
 
6,764
722,869
Sturm, Ruger & Co., Inc.
 
2,881
109,737
Topgolf Callaway Brands Corp.(b)(c)
 
24,449
205,861
Tri Pointe Homes, Inc.(b)
 
15,996
696,306
Upbound Group, Inc.
 
7,934
272,850
Urban Outfitters, Inc.(b)
 
9,526
464,202
V.F. Corp.(c)
 
54,886
1,110,344
Victoria’s Secret & Co.(b)
 
13,829
537,118
Winnebago Industries, Inc.(c)
 
5,059
296,154
Wolverine World Wide, Inc.
 
13,218
306,525
Worthington Enterprises, Inc.
 
5,171
211,597
XPEL, Inc.(b)(c)(d)
 
3,441
149,683
 
 
30,039,910
Consumer Staples-3.36%
Andersons, Inc. (The)
 
5,672
270,781
B&G Foods, Inc.(c)
 
13,038
87,094
Cal-Maine Foods, Inc.
 
6,788
662,577
Central Garden & Pet Co., Class A(b)
 
11,108
375,339
Chefs’ Warehouse, Inc. (The)(b)
 
6,231
278,588
Edgewell Personal Care Co.
 
8,744
319,856
Energizer Holdings, Inc.
 
11,952
455,491
Fresh Del Monte Produce, Inc.
 
5,605
189,169
Grocery Outlet Holding Corp.(b)
 
18,322
384,762
Hain Celestial Group, Inc. (The)(b)
 
14,516
120,047
Inter Parfums, Inc.
 
3,188
438,860
J&J Snack Foods Corp.
 
2,605
452,723
John B. Sanfilippo & Son, Inc.
 
1,501
129,611
MGP Ingredients, Inc.(c)
 
2,726
126,159
National Beverage Corp.
 
3,793
187,336
PriceSmart, Inc.(c)
 
4,225
379,151
Simply Good Foods Co. (The)(b)(c)
 
13,728
546,237
SpartanNash Co.
 
5,780
109,704
Tootsie Roll Industries, Inc.(c)
 
2,650
87,715
TreeHouse Foods, Inc.(b)
 
7,676
263,594
United Natural Foods, Inc.(b)
 
9,888
245,519
Universal Corp.
 
4,171
238,248
USANA Health Sciences, Inc.(b)
 
1,984
76,444
WD-40 Co.
 
2,274
630,103
WK Kellogg Co.
 
9,853
204,942
 
 
7,260,050
Energy-5.18%
Archrock, Inc.
 
25,488
653,003
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Energy-(continued)
Bristow Group, Inc.(b)
 
4,545
$173,710
Cactus, Inc., Class A
 
11,481
788,285
California Resources Corp.
 
11,119
657,800
Comstock Resources, Inc.(c)
 
16,386
255,130
CONSOL Energy, Inc.
 
4,745
620,171
Core Laboratories, Inc.(c)
 
8,910
181,318
CVR Energy, Inc.(c)
 
5,590
108,166
Dorian LPG Ltd.
 
6,163
150,809
Green Plains, Inc.(b)(c)
 
11,912
128,650
Helix Energy Solutions Group, Inc.(b)
 
27,554
294,552
Helmerich & Payne, Inc.
 
16,666
577,144
Innovex International, Inc.(b)(c)
 
6,082
98,954
Liberty Energy, Inc., Class A
 
26,534
488,226
Magnolia Oil & Gas Corp., Class A(c)
 
31,706
879,524
Nabors Industries Ltd.(b)(c)
 
1,653
121,380
Northern Oil and Gas, Inc.(c)
 
17,129
744,940
Oceaneering International, Inc.(b)
 
19,384
581,132
Par Pacific Holdings, Inc.(b)
 
10,425
181,708
Patterson-UTI Energy, Inc.
 
58,225
489,090
Peabody Energy Corp.
 
19,002
453,198
ProPetro Holding Corp.(b)
 
14,760
123,984
REX American Resources Corp.(b)
 
2,604
112,779
RPC, Inc.(c)
 
15,138
97,489
SM Energy Co.(c)
 
21,476
970,500
Talos Energy, Inc.(b)(c)
 
26,440
297,450
Tidewater, Inc.(b)(c)
 
9,773
505,460
Vital Energy, Inc.(b)(c)
 
5,458
179,186
World Kinect Corp.
 
9,900
286,605
 
 
11,200,343
Financials-22.05%
Ambac Financial Group, Inc.(b)
 
7,953
102,117
Ameris Bancorp
 
10,823
760,640
AMERISAFE, Inc.
 
3,258
192,287
Apollo Commercial Real Estate Finance, Inc.
 
21,772
201,391
Arbor Realty Trust, Inc.(c)
 
30,376
445,616
ARMOUR Residential REIT, Inc.
 
7,710
145,873
Artisan Partners Asset Management, Inc.,
Class A(c)
 
11,557
563,866
Assured Guaranty Ltd.
 
8,661
807,898
Atlantic Union Bankshares Corp.(c)
 
15,479
656,774
Axos Financial, Inc.(b)
 
9,160
758,906
BancFirst Corp.
 
2,350
296,758
Bancorp, Inc. (The)(b)
 
9,223
538,900
Bank of Hawaii Corp.
 
6,719
530,667
BankUnited, Inc.
 
13,112
551,622
Banner Corp.
 
5,838
435,456
Berkshire Hills Bancorp, Inc.
 
7,244
220,797
BGC Group, Inc., Class A
 
65,550
638,457
Blackstone Mortgage Trust, Inc., Class A(c)
 
27,686
532,125
Bread Financial Holdings, Inc.
 
9,820
577,711
Brookline Bancorp, Inc.
 
14,852
186,987
Capitol Federal Financial, Inc.
 
20,762
138,690
Cathay General Bancorp
 
12,388
644,300
Central Pacific Financial Corp.
 
4,518
144,215
City Holding Co.(c)
 
2,460
323,047
Cohen & Steers, Inc.(c)
 
4,211
440,723
Comerica, Inc.
 
21,426
1,548,029
Community Financial System, Inc.
 
9,160
634,147
Customers Bancorp, Inc.(b)
 
4,831
272,710
CVB Financial Corp.(c)
 
23,043
539,667
Dime Community Bancshares, Inc.
 
5,963
213,952
Donnelley Financial Solutions, Inc.(b)
 
4,036
243,169
 
Shares
Value
Financials-(continued)
Eagle Bancorp, Inc.
 
5,051
$148,297
Ellington Financial, Inc.
 
13,562
167,626
Employers Holdings, Inc.
 
4,210
224,646
Enova International, Inc.(b)
 
4,928
519,953
EVERTEC, Inc.
 
10,700
385,200
EZCORP, Inc., Class A(b)(c)
 
9,311
119,181
FB Financial Corp.
 
6,086
343,555
First Bancorp
 
28,525
589,897
First Bancorp/Southern Pines NC
 
6,793
321,309
First Commonwealth Financial Corp.
 
17,271
325,213
First Financial Bancorp
 
16,495
487,097
First Hawaiian, Inc.
 
21,819
602,423
Franklin BSP Realty Trust, Inc.(c)
 
13,829
180,883
Fulton Financial Corp.
 
32,448
700,228
Genworth Financial, Inc., Class A(b)
 
74,619
582,028
Goosehead Insurance, Inc., Class A(b)(c)
 
4,176
526,677
Green Dot Corp., Class A(b)
 
7,546
77,497
HA Sustainable Infrastructure Capital, Inc.(c)
 
17,557
550,588
Hanmi Financial Corp.
 
5,176
136,905
HCI Group, Inc.(c)
 
1,182
144,050
Heritage Financial Corp.
 
5,912
156,372
Hilltop Holdings, Inc.
 
7,780
246,237
Hope Bancorp, Inc.
 
20,651
281,267
Horace Mann Educators Corp.
 
7,056
295,435
Independent Bank Corp.
 
7,308
529,026
Independent Bank Group, Inc.
 
6,089
407,476
Jackson Financial, Inc., Class A
 
12,241
1,226,426
KKR Real Estate Finance Trust, Inc.
 
9,236
107,415
Lakeland Financial Corp.(c)
 
4,392
322,636
Lincoln National Corp.
 
30,413
1,080,878
Mercury General Corp.
 
4,848
382,798
Moelis & Co., Class A
 
11,975
921,836
Mr. Cooper Group, Inc.(b)
 
11,052
1,090,501
National Bank Holdings Corp., Class A
 
6,565
313,413
Navient Corp.
 
14,788
230,397
NBT Bancorp, Inc.
 
8,394
420,707
NMI Holdings, Inc., Class A(b)
 
13,420
536,666
Northwest Bancshares, Inc.
 
21,649
317,807
OFG Bancorp
 
8,007
363,678
Pacific Premier Bancorp, Inc.
 
17,017
483,283
Palomar Holdings, Inc.(b)(c)
 
4,270
462,441
Park National Corp.
 
2,479
471,902
Pathward Financial, Inc.
 
4,278
358,839
Payoneer Global, Inc.(b)
 
41,569
453,518
PennyMac Mortgage Investment Trust(c)
 
14,345
194,949
Piper Sandler Cos.
 
2,652
909,609
PJT Partners, Inc., Class A
 
3,665
613,374
PRA Group, Inc.(b)
 
7,223
153,128
Preferred Bank
 
2,103
198,376
ProAssurance Corp.(b)
 
8,618
144,093
PROG Holdings, Inc.
 
7,208
350,741
Provident Financial Services, Inc.
 
22,581
476,911
Radian Group, Inc.
 
25,737
921,127
Ready Capital Corp.(c)
 
26,517
195,430
Redwood Trust, Inc.(c)
 
21,527
154,133
Renasant Corp.
 
10,959
412,278
S&T Bancorp, Inc.
 
6,434
275,311
Safety Insurance Group, Inc.
 
2,602
223,356
Seacoast Banking Corp. of Florida
 
14,013
419,829
ServisFirst Bancshares, Inc.(c)
 
8,472
811,448
Simmons First National Corp., Class A
 
21,053
514,956
SiriusPoint Ltd. (Sweden)(b)
 
15,870
244,715
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Financials-(continued)
Southside Bancshares, Inc.
 
4,863
$170,789
Stellar Bancorp, Inc.
 
7,902
245,041
StepStone Group, Inc., Class A
 
8,812
580,623
Stewart Information Services Corp.
 
4,641
348,493
StoneX Group, Inc.(b)
 
4,629
480,305
Tompkins Financial Corp.
 
2,198
167,729
Triumph Financial, Inc.(b)(c)
 
3,722
398,589
Trupanion, Inc.(b)(c)
 
6,169
328,869
TrustCo Bank Corp.
 
3,253
121,142
Trustmark Corp.
 
10,335
404,202
Two Harbors Investment Corp.
 
17,186
201,936
United Community Banks, Inc.
 
20,541
694,491
United Fire Group, Inc., (Acquired
06/28/2021 - 11/25/2024;
Cost $93,150)(e)
 
3,495
106,947
Veritex Holdings, Inc.
 
9,160
278,556
Virtu Financial, Inc., Class A
 
14,122
526,892
Virtus Investment Partners, Inc.
 
1,156
285,497
WaFd, Inc.
 
11,242
411,232
Walker & Dunlop, Inc.
 
5,598
616,788
Westamerica Bancorporation
 
4,497
257,363
WisdomTree, Inc.
 
19,258
230,133
World Acceptance Corp.(b)(c)
 
594
71,826
WSFS Financial Corp.
 
10,485
629,310
 
 
47,652,221
Health Care-9.00%
AdaptHealth Corp.(b)(c)
 
12,202
122,386
Addus HomeCare Corp.(b)
 
2,900
356,236
Alkermes PLC(b)
 
28,955
840,274
AMN Healthcare Services, Inc.(b)(c)
 
7,487
194,887
ANI Pharmaceuticals, Inc.(b)
 
2,865
163,964
Arcus Biosciences, Inc.(b)(c)
 
8,767
135,362
Artivion, Inc.(b)
 
7,084
209,120
Astrana Health, Inc.(b)(c)
 
6,557
283,590
Avanos Medical, Inc.(b)
 
7,530
144,275
BioLife Solutions, Inc.(b)(c)
 
6,462
177,511
Catalyst Pharmaceuticals, Inc.(b)
 
18,593
410,347
Certara, Inc.(b)
 
19,293
216,275
Collegium Pharmaceutical, Inc.(b)(c)
 
5,535
168,817
Concentra Group Holdings Parent, Inc.(b)
 
1
20
CONMED Corp.(c)
 
4,899
362,722
Corcept Therapeutics, Inc.(b)(c)
 
14,537
838,494
CorVel Corp.(b)(c)
 
1,545
564,543
Cytek Biosciences, Inc.(b)(c)
 
16,039
104,735
Fortrea Holdings, Inc.(b)(c)
 
15,990
336,589
Fulgent Genetics, Inc.(b)(c)
 
3,500
64,050
Glaukos Corp.(b)(c)
 
8,586
1,233,379
Harmony Biosciences Holdings, Inc.(b)
 
4,888
169,467
HealthStream, Inc.
 
3,979
131,705
ICU Medical, Inc.(b)
 
3,162
518,441
Innoviva, Inc.(b)(c)
 
8,741
165,992
Integer Holdings Corp.(b)(c)
 
5,606
787,643
Integra LifeSciences Holdings Corp.(b)
 
12,596
309,610
Krystal Biotech, Inc.(b)(c)
 
3,898
769,543
LeMaitre Vascular, Inc.
 
3,311
354,244
Ligand Pharmaceuticals, Inc.(b)(c)
 
2,776
337,201
Merit Medical Systems, Inc.(b)
 
9,246
960,659
Mesa Laboratories, Inc.
 
918
107,535
Myriad Genetics, Inc.(b)
 
15,536
252,771
National HealthCare Corp.
 
2,430
304,236
NeoGenomics, Inc.(b)
 
20,672
366,515
 
Shares
Value
Health Care-(continued)
OmniAb Operations, Inc., Rts., expiring
11/02/2027(b)(c)(f)
 
762
$0
OmniAb Operations, Inc., Rts., expiring
11/02/2027(b)(f)
 
762
0
Organon & Co.
 
45,554
722,942
Owens & Minor, Inc.(b)(c)
 
12,449
167,688
Pacira BioSciences, Inc.(b)(c)
 
8,871
150,009
Patterson Cos., Inc.
 
13,828
297,164
Pediatrix Medical Group, Inc.(b)
 
13,578
203,127
Phibro Animal Health Corp., Class A
 
3,412
79,738
Premier, Inc., Class A
 
17,356
397,452
Prestige Consumer Healthcare, Inc.(b)
 
8,371
709,610
Privia Health Group, Inc.(b)(c)
 
18,232
391,623
Protagonist Therapeutics, Inc.(b)
 
8,943
391,703
RadNet, Inc.(b)
 
11,302
924,051
REGENXBIO, Inc.(b)(c)
 
7,184
71,265
Select Medical Holdings Corp.(c)
 
18,060
381,247
Simulations Plus, Inc.(c)
 
2,842
90,290
STAAR Surgical Co., (Acquired 06/21/2024 -
10/03/2024; Cost $343,718)(b)(c)(e)
 
8,569
249,358
Supernus Pharmaceuticals, Inc.(b)
 
9,914
362,555
U.S. Physical Therapy, Inc.
 
2,477
244,628
UFP Technologies, Inc.(b)(c)
 
1,291
416,890
Vericel Corp.(b)(c)
 
9,147
531,807
Xencor, Inc.(b)
 
8,128
208,077
 
 
19,454,362
Industrials-18.75%
AAR Corp.(b)
 
5,418
376,659
ABM Industries, Inc.
 
11,786
673,806
AeroVironment, Inc.(b)(c)
 
4,950
962,775
Air Lease Corp., Class A
 
18,117
922,155
Alamo Group, Inc.
 
1,758
351,512
Alaska Air Group, Inc.(b)
 
18,551
975,783
Albany International Corp., Class A
 
5,555
460,509
Allegiant Travel Co.(c)
 
2,347
192,078
American Woodmark Corp.(b)
 
2,756
250,190
Apogee Enterprises, Inc.
 
3,782
318,482
ArcBest Corp.
 
4,013
462,619
Arcosa, Inc.
 
8,337
905,732
Armstrong World Industries, Inc.
 
7,269
1,161,804
Astec Industries, Inc.
 
4,050
156,370
AZZ, Inc.
 
5,307
494,294
Barnes Group, Inc.
 
9,330
437,017
Boise Cascade Co.
 
7,010
1,034,676
Brady Corp., Class A
 
7,308
547,296
CoreCivic, Inc.(b)
 
19,073
425,900
CSG Systems International, Inc.
 
4,831
264,787
Deluxe Corp.
 
7,629
176,764
DNOW, Inc.(b)
 
19,194
288,870
DXP Enterprises, Inc.(b)
 
2,384
174,676
Dycom Industries, Inc.(b)
 
4,425
801,633
Enerpac Tool Group Corp.
 
9,018
435,209
Enpro, Inc.
 
3,673
694,564
Enviri Corp.(b)
 
15,697
116,158
ESCO Technologies, Inc.
 
4,230
627,774
Federal Signal Corp.
 
10,902
1,061,964
Franklin Electric Co., Inc.
 
6,906
747,920
Gates Industrial Corp. PLC(b)
 
35,760
792,442
GEO Group, Inc. (The)(b)
 
23,501
670,013
Gibraltar Industries, Inc.(b)
 
5,104
369,734
GMS, Inc.(b)
 
6,662
668,532
Granite Construction, Inc.(c)
 
7,289
724,308
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Industrials-(continued)
Greenbrier Cos., Inc. (The)
 
5,311
$361,148
Griffon Corp.
 
6,252
527,044
Hayward Holdings, Inc.(b)(c)
 
21,407
345,937
Healthcare Services Group, Inc.(b)
 
12,059
148,808
Heartland Express, Inc.
 
7,715
98,520
Heidrick & Struggles International, Inc.
 
3,457
159,506
Hertz Global Holdings, Inc.(b)(c)
 
23,849
117,337
Hillenbrand, Inc.
 
13,992
476,148
HNI Corp.
 
8,097
458,695
Hub Group, Inc., Class A
 
10,564
545,525
Insteel Industries, Inc.
 
3,521
103,799
Interface, Inc.
 
9,725
258,199
JetBlue Airways Corp.(b)(c)
 
48,791
291,282
John Bean Technologies Corp.(c)
 
5,342
673,199
Kelly Services, Inc., Class A
 
5,308
77,762
Kennametal, Inc.
 
13,104
376,085
Korn Ferry
 
8,768
686,885
Lindsay Corp.
 
1,890
250,935
Liquidity Services, Inc.(b)
 
3,552
90,825
Marten Transport Ltd.
 
9,465
164,502
MasterBrand, Inc.(b)
 
20,385
352,660
Matson, Inc.
 
5,924
907,438
Matthews International Corp., Class A
 
5,386
162,442
Mercury Systems, Inc.(b)(c)
 
8,774
360,875
MillerKnoll, Inc.
 
12,769
321,013
Moog, Inc., Class A
 
4,837
1,070,283
MYR Group, Inc.(b)
 
2,872
453,489
National Presto Industries, Inc.
 
926
73,821
NV5 Global, Inc.(b)
 
8,881
193,251
OPENLANE, Inc.(b)(c)
 
18,975
383,295
Powell Industries, Inc.(c)
 
1,524
407,487
Proto Labs, Inc.(b)(c)
 
4,225
174,028
Quanex Building Products Corp.
 
7,481
222,635
Resideo Technologies, Inc.(b)
 
25,917
704,424
Robert Half, Inc.(c)
 
16,658
1,242,853
Rush Enterprises, Inc., Class A
 
10,926
676,866
RXO, Inc.(b)(c)
 
20,915
630,587
Schneider National, Inc., Class B
 
6,002
201,727
SkyWest, Inc.(b)
 
6,703
769,102
SPX Technologies, Inc.(b)
 
8,327
1,469,216
Standex International Corp.
 
2,041
424,303
Sun Country Airlines Holdings, Inc.(b)
 
6,107
87,880
Tennant Co.
 
3,273
289,235
Titan International, Inc.(b)(c)
 
8,801
64,423
Trinity Industries, Inc.
 
14,178
534,511
UniFirst Corp.
 
2,487
499,564
Verra Mobility Corp., Class A(b)
 
27,079
640,689
Vestis Corp.
 
20,157
324,124
Viad Corp.(b)
 
3,666
163,943
Vicor Corp.(b)(c)
 
3,894
207,200
Wabash National Corp.
 
7,477
148,269
Werner Enterprises, Inc.(c)
 
10,350
423,108
 
 
40,521,887
Information Technology-10.26%
A10 Networks, Inc.
 
11,854
202,111
ACI Worldwide, Inc.(b)
 
18,049
1,025,544
Adeia, Inc.
 
19,014
230,450
Advanced Energy Industries, Inc.
 
6,584
757,423
Agilysys, Inc.(b)(c)
 
3,584
481,331
Alarm.com Holdings, Inc.(b)(c)
 
8,776
571,669
Alpha & Omega Semiconductor Ltd.(b)
 
4,501
186,656
Arlo Technologies, Inc.(b)
 
16,340
183,335
 
Shares
Value
Information Technology-(continued)
Axcelis Technologies, Inc.(b)
 
5,578
$414,111
Badger Meter, Inc.
 
4,857
1,053,095
Benchmark Electronics, Inc.
 
6,033
292,540
BlackLine, Inc.(b)
 
8,328
516,419
Calix, Inc.(b)
 
9,844
320,225
CEVA, Inc.(b)(c)
 
3,694
109,860
Cohu, Inc.(b)(c)
 
8,486
224,030
Corsair Gaming, Inc.(b)(c)
 
8,680
63,798
CTS Corp.(c)
 
5,270
289,376
Digi International, Inc.(b)(c)
 
6,608
219,518
Diodes, Inc.(b)(c)
 
8,277
538,005
DXC Technology Co.(b)
 
28,420
639,450
ePlus, Inc.(b)
 
4,682
378,587
FormFactor, Inc.(b)
 
13,648
546,739
Harmonic, Inc.(b)
 
19,541
250,516
Ichor Holdings Ltd.(b)
 
5,828
190,925
Insight Enterprises, Inc.(b)(c)
 
4,854
759,408
InterDigital, Inc.(c)
 
4,226
828,127
Itron, Inc.(b)
 
7,510
890,160
Knowles Corp.(b)
 
15,872
308,869
Kulicke & Soffa Industries, Inc. (Singapore)(c)
 
9,782
473,644
LiveRamp Holdings, Inc.(b)
 
11,091
336,723
MARA Holdings, Inc.(b)(c)
 
46,117
1,264,528
N-able, Inc.(b)
 
11,716
122,315
NetScout Systems, Inc.(b)
 
12,779
279,605
OSI Systems, Inc.(b)(c)
 
2,672
474,013
PC Connection, Inc.
 
1,886
136,886
Photronics, Inc.(b)
 
11,428
284,671
Plexus Corp.(b)
 
4,523
743,581
Progress Software Corp.(c)
 
6,993
478,391
Rogers Corp.(b)
 
2,881
298,414
Sanmina Corp.(b)
 
9,407
747,010
ScanSource, Inc.(b)
 
4,555
229,618
SiTime Corp.(b)
 
2,850
605,283
SolarWinds Corp.
 
8,690
116,011
Sprinklr, Inc., Class A(b)(c)
 
23,124
190,542
SPS Commerce, Inc.(b)
 
6,323
1,220,782
TTM Technologies, Inc.(b)
 
17,669
430,770
Ultra Clean Holdings, Inc.(b)
 
7,912
304,058
Veeco Instruments, Inc.(b)(c)
 
10,550
294,028
Viasat, Inc.(b)(c)
 
12,661
118,127
Viavi Solutions, Inc.(b)(c)
 
36,787
365,663
Xerox Holdings Corp.(c)
 
20,656
188,796
 
 
22,175,736
Materials-5.87%
AdvanSix, Inc.
 
4,646
150,856
Alpha Metallurgical Resources, Inc.(c)
 
2,286
561,373
Arch Resources, Inc.(c)
 
3,204
550,832
ATI, Inc.(b)
 
20,689
1,244,857
Balchem Corp.
 
5,596
1,010,190
Carpenter Technology Corp.
 
8,497
1,648,758
Century Aluminum Co.(b)
 
9,330
213,004
H.B. Fuller Co.
 
9,469
728,071
Hawkins, Inc.
 
3,359
451,819
Innospec, Inc.
 
4,298
509,786
Kaiser Aluminum Corp.
 
2,773
225,389
Koppers Holdings, Inc.
 
3,720
143,071
Materion Corp.
 
3,743
432,766
Mativ Holdings, Inc., Class A
 
9,383
123,386
Metallus, Inc.(b)(c)
 
6,969
116,173
Minerals Technologies, Inc.
 
5,601
456,874
O-I Glass, Inc.(b)
 
26,398
332,615
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Materials-(continued)
Quaker Chemical Corp.
 
2,330
$367,441
Sealed Air Corp.
 
24,699
903,983
Sensient Technologies Corp.
 
7,131
553,651
Stepan Co.
 
3,694
284,069
SunCoke Energy, Inc.
 
15,659
195,111
Sylvamo Corp.
 
5,975
551,433
Warrior Met Coal, Inc.(c)
 
9,841
692,019
Worthington Steel, Inc.
 
5,536
248,234
 
 
12,695,761
Real Estate-6.92%
Acadia Realty Trust
 
16,445
425,103
Alexander & Baldwin, Inc.
 
11,763
231,496
American Assets Trust, Inc.
 
8,209
233,464
Apple Hospitality REIT, Inc.
 
36,912
594,652
Armada Hoffler Properties, Inc.
 
11,213
123,904
Brandywine Realty Trust
 
28,523
159,729
CareTrust REIT, Inc.
 
22,412
667,653
Centerspace
 
2,448
177,480
Cushman & Wakefield PLC(b)
 
32,266
493,670
DiamondRock Hospitality Co.
 
35,450
328,976
Douglas Emmett, Inc.(c)
 
26,975
522,236
Easterly Government Properties, Inc.
 
16,309
200,927
Elme Communities
 
13,916
235,737
Essential Properties Realty Trust, Inc.(c)
 
27,874
950,503
eXp World Holdings, Inc.(c)
 
11,645
161,283
Four Corners Property Trust, Inc.(c)
 
14,020
416,534
Getty Realty Corp.
 
7,943
261,166
Global Net Lease, Inc.
 
31,378
232,511
Highwoods Properties, Inc.
 
16,931
549,580
Hudson Pacific Properties, Inc.(c)
 
22,268
85,732
Innovative Industrial Properties, Inc.
 
4,490
489,500
JBG SMITH Properties, (Acquired
06/16/2023 - 11/25/2024;
Cost $612,552)(e)
 
13,241
226,289
LTC Properties, Inc.
 
6,923
267,159
LXP Industrial Trust
 
48,797
456,252
Macerich Co. (The)(c)
 
34,536
732,508
Marcus & Millichap, Inc.(c)
 
3,993
166,149
Medical Properties Trust, Inc.(c)
 
89,244
391,781
NexPoint Residential Trust, Inc.
 
3,809
179,290
Pebblebrook Hotel Trust
 
20,529
284,327
Phillips Edison & Co., Inc.
 
19,352
764,404
Retail Opportunity Investments Corp.
 
20,469
356,161
Safehold, Inc.(c)
 
7,048
150,545
Saul Centers, Inc.
 
2,133
87,688
Service Properties Trust
 
28,702
79,791
 
Shares
Value
Real Estate-(continued)
SITE Centers Corp.
 
7,482
$116,121
SL Green Realty Corp.(c)
 
10,293
804,810
St. Joe Co. (The)
 
5,864
299,533
Summit Hotel Properties, Inc.
 
18,395
121,039
Sunstone Hotel Investors, Inc.
 
34,342
369,176
Tanger, Inc.
 
17,214
636,402
Universal Health Realty Income Trust
 
2,080
87,755
Urban Edge Properties
 
19,128
440,135
Whitestone REIT
 
7,885
116,067
Xenia Hotels & Resorts, Inc.
 
17,621
271,011
 
 
14,946,229
Utilities-2.13%
American States Water Co.
 
5,929
505,803
Avista Corp.
 
12,727
492,408
California Water Service Group
 
9,549
488,813
Chesapeake Utilities Corp.
 
3,544
466,922
Clearway Energy, Inc., Class C
 
18,649
549,959
MGE Energy, Inc.
 
5,723
596,795
Middlesex Water Co.
 
2,916
190,809
Northwest Natural Holding Co.
 
6,278
275,102
Otter Tail Corp.(c)
 
7,483
603,429
SJW Group
 
4,763
265,394
Unitil Corp.
 
2,670
160,253
 
 
4,595,687
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $164,363,932)
216,056,522
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-20.70%
Invesco Private Government Fund,
4.63%(g)(h)(i)
 
12,533,240
12,533,240
Invesco Private Prime Fund, 4.71%(g)(h)(i)
 
32,193,984
32,203,642
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $44,737,977)
44,736,882
TOTAL INVESTMENTS IN SECURITIES-120.67%
(Cost $209,101,909)
260,793,404
OTHER ASSETS LESS LIABILITIES-(20.67)%
(44,671,377
)
NET ASSETS-100.00%
$216,122,027
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600 QVM Multi-factor ETF (QVMS)—(continued)
November 30, 2024
(Unaudited)
Investment Abbreviations:
REIT
-Real Estate Investment Trust
Rts.
-Rights
 
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 November 30, 2024.
(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 value of this security at November 30,
2024 represented less than 1% of the Fund’s Net Assets.
(e)
Restricted security. The aggregate value of these securities at November 30, 2024 was $582,594, which represented less than 1% of the Fund’s Net Assets.
(f)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(g)
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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$1,436,893
$(1,436,893
)
$-
$-
$-
$1,060
Investments Purchased with
Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
9,631,261
23,075,975
(20,173,996
)
-
-
12,533,240
140,852
*
Invesco Private Prime Fund
26,508,539
49,510,567
(43,811,739
)
(3,447
)
(278
)
32,203,642
377,168
*
Total
$36,139,800
$74,023,435
$(65,422,628
)
$(3,447
)
$(278
)
$44,736,882
$519,080
 
*
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.
 
(h)
The rate shown is the 7-day SEC standardized yield as of November 30, 2024.
(i)
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 S&P SmallCap 600® GARP ETF (GRPZ)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-100.02%
Communication Services-1.82%
Cogent Communications Holdings, Inc.
 
499
$41,013
Consumer Discretionary-20.67%
Asbury Automotive Group, Inc.(b)
 
95
24,684
Boot Barn Holdings, Inc.(b)(c)
 
162
22,217
Caleres, Inc.
 
490
15,224
Cavco Industries, Inc.(b)(c)
 
57
29,327
Ethan Allen Interiors, Inc.
 
789
24,246
G-III Apparel Group Ltd.(b)
 
887
26,282
Golden Entertainment, Inc.
 
623
21,020
Green Brick Partners, Inc.(b)
 
427
30,513
Group 1 Automotive, Inc.
 
84
35,767
Guess?, Inc.
 
1,031
16,970
Installed Building Products, Inc.
 
96
21,959
La-Z-Boy, Inc.
 
478
21,639
Monarch Casino & Resort, Inc.
 
456
38,309
Signet Jewelers Ltd.
 
254
25,451
Steven Madden Ltd.
 
630
28,715
Stride, Inc.(b)
 
321
34,305
Worthington Enterprises, Inc.
 
436
17,841
XPEL, Inc.(b)(d)
 
738
32,103
 
 
466,572
Consumer Staples-4.23%
Cal-Maine Foods, Inc.
 
613
59,835
Inter Parfums, Inc.
 
259
35,654
 
 
95,489
Energy-11.64%
CONSOL Energy, Inc.
 
353
46,137
CVR Energy, Inc.(c)
 
1,112
21,517
Dorian LPG Ltd.
 
631
15,441
Helmerich & Payne, Inc.
 
588
20,362
Liberty Energy, Inc., Class A
 
1,310
24,104
Magnolia Oil & Gas Corp., Class A(c)
 
942
26,131
Northern Oil and Gas, Inc.(c)
 
824
35,836
Par Pacific Holdings, Inc.(b)
 
1,136
19,800
RPC, Inc.(c)
 
4,792
30,861
SM Energy Co.
 
499
22,550
 
 
262,739
Financials-21.31%
Axos Financial, Inc.(b)
 
344
28,500
BancFirst Corp.(c)
 
214
27,024
Bancorp, Inc. (The)(b)
 
618
36,110
Bread Financial Holdings, Inc.
 
438
25,768
Cathay General Bancorp
 
490
25,485
Customers Bancorp, Inc.(b)
 
427
24,104
First Bancorp
 
1,417
29,304
HCI Group, Inc.(c)
 
214
26,080
OFG Bancorp
 
519
23,573
Palomar Holdings, Inc.(b)
 
387
41,912
Pathward Financial, Inc.
 
405
33,971
Preferred Bank
 
311
29,337
PROG Holdings, Inc.
 
528
25,692
S&T Bancorp, Inc.(c)
 
856
36,628
SiriusPoint Ltd. (Sweden)(b)
 
1,476
22,760
Westamerica Bancorporation
 
386
22,091
WisdomTree, Inc.
 
1,902
22,729
 
 
481,068
Health Care-7.95%
Alkermes PLC(b)
 
822
23,854
 
Shares
Value
Health Care-(continued)
AMN Healthcare Services, Inc.(b)
 
447
$11,635
Amphastar Pharmaceuticals, Inc.(b)
 
745
33,667
Catalyst Pharmaceuticals, Inc.(b)
 
1,926
42,507
Collegium Pharmaceutical, Inc.(b)(c)
 
658
20,069
CorVel Corp.(b)
 
69
25,213
Harmony Biosciences Holdings, Inc.(b)
 
646
22,397
 
 
179,342
Industrials-15.20%
Apogee Enterprises, Inc.
 
317
26,695
Armstrong World Industries, Inc.
 
168
26,851
DNOW, Inc.(b)
 
1,242
18,692
Dycom Industries, Inc.(b)
 
110
19,928
Enerpac Tool Group Corp.
 
602
29,053
GMS, Inc.(b)
 
290
29,101
Heidrick & Struggles International, Inc.
 
580
26,761
Liquidity Services, Inc.(b)
 
1,213
31,016
Matson, Inc.
 
146
22,364
MYR Group, Inc.(b)
 
121
19,106
Rush Enterprises, Inc., Class A
 
477
29,550
Standex International Corp.(c)
 
110
22,868
Titan International, Inc.(b)
 
2,309
16,902
Wabash National Corp.
 
1,219
24,173
 
 
343,060
Information Technology-10.42%
Agilysys, Inc.(b)
 
231
31,023
Axcelis Technologies, Inc.(b)
 
224
16,630
Badger Meter, Inc.
 
98
21,248
Diodes, Inc.(b)
 
237
15,405
Harmonic, Inc.(b)
 
1,582
20,281
InterDigital, Inc.
 
199
38,996
MARA Holdings, Inc.(b)(c)
 
1,882
51,605
Photronics, Inc.(b)
 
744
18,533
Sanmina Corp.(b)(c)
 
271
21,520
 
 
235,241
Materials-6.06%
Alpha Metallurgical Resources, Inc.
 
115
28,241
Arch Resources, Inc.
 
136
23,381
Hawkins, Inc.
 
195
26,229
Sylvamo Corp.
 
255
23,534
Warrior Met Coal, Inc.
 
504
35,441
 
 
136,826
Utilities-0.72%
Otter Tail Corp.(c)
 
203
16,370
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from
securities on loan)-100.02%
(Cost $1,976,211)
2,257,720
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-21.66%
Invesco Private Government Fund, 4.63%(e)(f)(g)
 
137,163
137,163
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600® GARP ETF (GRPZ)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.71%(e)(f)(g)
 
351,580
$351,685
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $488,848)
488,848
TOTAL INVESTMENTS IN SECURITIES-121.68%
(Cost $2,465,059)
2,746,568
OTHER ASSETS LESS LIABILITIES-(21.68)%
(489,428
)
NET ASSETS-100.00%
$2,257,140
 
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 November 30, 2024.
(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 value of this security at November 30,
2024 represented 1.42% of the Fund’s Net Assets.
(e)
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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$1,091
$7,449
$(8,540
)
$-
$-
$-
$11
Investments Purchased with
Cash Collateral from Securities
on Loan:
Invesco Private Government Fund
90,879
427,213
(380,929
)
-
-
137,163
1,015
*
Invesco Private Prime Fund
236,641
946,167
(831,096
)
(16
)
(11
)
351,685
2,738
*
Total
$328,611
$1,380,829
$(1,220,565
)
$(16
)
$(11
)
$488,848
$3,764
 
*
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.
 
(f)
The rate shown is the 7-day SEC standardized yield as of November 30, 2024.
(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(a)
Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.86%
Communication Services-6.82%
Cable One, Inc.
 
2,122
$891,707
Cogent Communications Holdings, Inc.
 
22,894
1,881,658
John Wiley & Sons, Inc., Class A(b)
 
16,038
836,863
Scholastic Corp.(b)
 
15,924
420,075
 
 
4,030,303
Consumer Discretionary-5.17%
Bloomin’ Brands, Inc.(b)
 
57,677
804,018
Ethan Allen Interiors, Inc.
 
39,781
1,222,470
Upbound Group, Inc.(b)
 
29,964
1,030,462
 
 
3,056,950
Consumer Staples-10.83%
Cal-Maine Foods, Inc.
 
9,981
974,245
Energizer Holdings, Inc.
 
28,895
1,101,189
Fresh Del Monte Produce, Inc.
 
38,068
1,284,795
Inter Parfums, Inc.
 
3,806
523,934
SpartanNash Co.
 
49,806
945,318
Universal Corp.
 
27,503
1,570,971
 
 
6,400,452
Energy-7.21%
Archrock, Inc.
 
31,780
814,204
California Resources Corp.
 
9,928
587,340
CVR Energy, Inc.(b)
 
64,074
1,239,832
Northern Oil and Gas, Inc.(b)
 
24,222
1,053,415
World Kinect Corp.
 
19,570
566,551
 
 
4,261,342
Financials-24.90%
Apollo Commercial Real Estate Finance,
Inc.(b)
 
184,954
1,710,825
ARMOUR Residential REIT, Inc.(b)
 
94,268
1,783,551
Blackstone Mortgage Trust, Inc., Class A(b)
 
112,228
2,157,022
Ellington Financial, Inc.
 
153,742
1,900,251
KKR Real Estate Finance Trust, Inc.(b)
 
173,561
2,018,514
New York Mortgage Trust, Inc.(b)
 
301,766
1,852,843
Ready Capital Corp.(b)
 
216,599
1,596,335
Two Harbors Investment Corp.
 
144,507
1,697,957
 
 
14,717,298
Health Care-4.01%
National HealthCare Corp.
 
3,683
461,111
Patterson Cos., Inc.(b)
 
37,285
801,255
Premier, Inc., Class A
 
48,459
1,109,711
 
 
2,372,077
Industrials-10.29%
CSG Systems International, Inc.(b)
 
13,583
744,484
Deluxe Corp.(b)
 
48,577
1,125,529
HNI Corp.
 
12,762
722,967
Kennametal, Inc.(b)
 
30,317
870,098
Matthews International Corp., Class A
 
30,294
913,667
 
Shares
Value
Industrials-(continued)
Robert Half, Inc.(b)
 
10,577
$789,150
Trinity Industries, Inc.(b)
 
24,354
918,146
 
 
6,084,041
Materials-4.66%
AdvanSix, Inc.
 
23,335
757,687
Sealed Air Corp.
 
13,926
509,692
Sensient Technologies Corp.
 
5,931
460,483
SunCoke Energy, Inc.
 
82,495
1,027,888
 
 
2,755,750
Real Estate-12.34%
Easterly Government Properties, Inc.(b)
 
136,847
1,685,955
Global Net Lease, Inc.(b)
 
225,625
1,671,881
Highwoods Properties, Inc.(b)
 
56,773
1,842,852
Kennedy-Wilson Holdings, Inc.(b)
 
180,718
2,092,714
 
 
7,293,402
Utilities-13.63%
American States Water Co.
 
6,373
543,681
Avista Corp.
 
30,266
1,170,991
California Water Service Group
 
9,251
473,559
Chesapeake Utilities Corp.
 
4,176
550,188
Clearway Energy, Inc., Class C
 
53,906
1,589,688
MGE Energy, Inc.
 
5,845
609,516
Middlesex Water Co.
 
8,278
541,671
Northwest Natural Holding Co.
 
29,324
1,284,978
SJW Group
 
10,580
589,518
Unitil Corp.
 
11,708
702,714
 
 
8,056,504
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.86%
(Cost $57,818,054)
59,028,119
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-26.96%
Invesco Private Government Fund,
4.63%(c)(d)(e)
 
4,464,883
4,464,883
Invesco Private Prime Fund, 4.71%(c)(d)(e)
 
11,468,850
11,472,291
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $15,937,202)
15,937,174
TOTAL INVESTMENTS IN SECURITIES-126.82%
(Cost $73,755,256)
74,965,293
OTHER ASSETS LESS LIABILITIES-(26.82)%
(15,851,601
)
NET ASSETS-100.00%
$59,113,692
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap High Dividend Low Volatility ETF (XSHD)—(continued)
November 30, 2024
(Unaudited)
Investment Abbreviations:
REIT
-Real Estate Investment Trust
 
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$745,534
$(745,534
)
$-
$-
$-
$763
Investments Purchased with
Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
3,635,080
10,102,586
(9,272,783
)
-
-
4,464,883
45,701
*
Invesco Private Prime Fund
9,813,887
23,172,469
(21,513,125
)
(474
)
(466
)
11,472,291
122,116
*
Total
$13,448,967
$34,020,589
$(31,531,442
)
$(474
)
$(466
)
$15,937,174
$168,580
 
*
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 November 30, 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 S&P SmallCap Low Volatility ETF (XSLV)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-2.62%
Madison Square Garden Sports Corp.,
Class A(b)
 
15,951
$3,667,933
TEGNA, Inc.
 
133,726
2,510,037
Yelp, Inc.(b)
 
65,078
2,487,281
 
 
8,665,251
Consumer Discretionary-2.39%
Monarch Casino & Resort, Inc.
 
35,075
2,946,651
Steven Madden Ltd.(c)
 
58,289
2,656,813
Sturm, Ruger & Co., Inc.
 
60,047
2,287,190
 
 
7,890,654
Consumer Staples-7.28%
Cal-Maine Foods, Inc.
 
26,390
2,575,928
Edgewell Personal Care Co.
 
78,277
2,863,373
Energizer Holdings, Inc.
 
77,779
2,964,158
J&J Snack Foods Corp.
 
13,963
2,426,630
John B. Sanfilippo & Son, Inc.
 
28,530
2,463,565
PriceSmart, Inc.
 
29,678
2,663,304
Simply Good Foods Co. (The)(b)(c)
 
71,907
2,861,179
SpartanNash Co.
 
108,920
2,067,302
Tootsie Roll Industries, Inc.(c)
 
95,354
3,156,217
 
 
24,041,656
Energy-0.74%
Magnolia Oil & Gas Corp., Class A(c)
 
87,764
2,434,573
Financials-23.44%
AMERISAFE, Inc.
 
46,571
2,748,620
Apollo Commercial Real Estate Finance,
Inc.(c)
 
260,252
2,407,331
ARMOUR Residential REIT, Inc.(c)
 
135,406
2,561,882
Assured Guaranty Ltd.
 
31,376
2,926,753
City Holding Co.(c)
 
21,204
2,784,509
Donnelley Financial Solutions, Inc.(b)
 
40,055
2,413,314
Ellington Financial, Inc.
 
258,867
3,199,596
Employers Holdings, Inc.
 
66,443
3,545,399
EVERTEC, Inc.
 
69,432
2,499,552
First Bancorp
 
110,325
2,281,521
First Hawaiian, Inc.(c)
 
88,609
2,446,495
Franklin BSP Realty Trust, Inc.(c)
 
197,071
2,577,689
Genworth Financial, Inc., Class A(b)
 
365,678
2,852,288
Hilltop Holdings, Inc.
 
70,904
2,244,112
Horace Mann Educators Corp.
 
68,491
2,867,718
Mr. Cooper Group, Inc.(b)
 
26,508
2,615,544
NMI Holdings, Inc., Class A(b)
 
77,840
3,112,822
Northwest Bancshares, Inc.
 
166,911
2,450,253
OFG Bancorp
 
52,153
2,368,789
Pathward Financial, Inc.
 
33,101
2,776,512
PennyMac Mortgage Investment Trust(c)
 
204,333
2,776,885
Piper Sandler Cos.
 
6,899
2,366,288
PJT Partners, Inc., Class A
 
15,128
2,531,822
Radian Group, Inc.
 
79,789
2,855,648
Safety Insurance Group, Inc.
 
34,209
2,936,501
SiriusPoint Ltd. (Sweden)(b)(c)
 
173,593
2,676,804
StoneX Group, Inc.(b)
 
24,794
2,572,625
Two Harbors Investment Corp.
 
226,741
2,664,207
Westamerica Bancorporation
 
42,098
2,409,269
 
 
77,470,748
Health Care-6.72%
Addus HomeCare Corp.(b)(c)
 
18,538
2,277,208
HealthStream, Inc.
 
92,847
3,073,236
 
Shares
Value
Health Care-(continued)
Innoviva, Inc.(b)(c)
 
161,655
$3,069,828
Integer Holdings Corp.(b)(c)
 
17,946
2,521,413
Merit Medical Systems, Inc.(b)
 
26,245
2,726,855
Premier, Inc., Class A
 
124,901
2,860,233
Prestige Consumer Healthcare, Inc.(b)
 
38,134
3,232,619
U.S. Physical Therapy, Inc.
 
24,701
2,439,471
 
 
22,200,863
Industrials-18.40%
Armstrong World Industries, Inc.
 
17,669
2,824,036
Brady Corp., Class A
 
41,937
3,140,662
Enerpac Tool Group Corp.(c)
 
59,902
2,890,870
ESCO Technologies, Inc.
 
18,076
2,682,659
Franklin Electric Co., Inc.
 
26,576
2,878,181
Granite Construction, Inc.
 
29,345
2,916,013
Heartland Express, Inc.
 
212,217
2,710,011
HNI Corp.
 
47,546
2,693,481
Hub Group, Inc., Class A
 
50,532
2,609,472
Kelly Services, Inc., Class A
 
108,657
1,591,825
Kennametal, Inc.(c)
 
79,877
2,292,470
Korn Ferry
 
30,580
2,395,637
Marten Transport Ltd.
 
150,913
2,622,868
National Presto Industries, Inc.
 
39,557
3,153,484
NV5 Global, Inc.(b)
 
99,525
2,165,664
OPENLANE, Inc.(b)(c)
 
151,418
3,058,644
Robert Half, Inc.(c)
 
37,901
2,827,794
Schneider National, Inc., Class B(c)
 
79,533
2,673,104
Tennant Co.
 
28,196
2,491,681
UniFirst Corp.
 
11,851
2,380,510
Verra Mobility Corp., Class A(b)(c)
 
105,564
2,497,644
Werner Enterprises, Inc.(c)
 
65,931
2,695,259
Zurn Elkay Water Solutions Corp.
 
65,624
2,613,148
 
 
60,805,117
Information Technology-3.76%
InterDigital, Inc.(c)
 
13,913
2,726,391
N-able, Inc.(b)
 
189,958
1,983,162
OSI Systems, Inc.(b)(c)
 
16,118
2,859,333
PC Connection, Inc.
 
31,741
2,303,762
Progress Software Corp.(c)
 
37,258
2,548,820
 
 
12,421,468
Materials-4.75%
Balchem Corp.
 
15,506
2,799,143
H.B. Fuller Co.
 
38,186
2,936,121
Innospec, Inc.
 
20,965
2,486,659
Minerals Technologies, Inc.
 
31,809
2,594,660
Sensient Technologies Corp.
 
33,300
2,585,412
Stepan Co.
 
29,789
2,290,774
 
 
15,692,769
Real Estate-21.04%
Acadia Realty Trust(c)
 
117,663
3,041,588
Alexander & Baldwin, Inc.
 
156,945
3,088,678
Apple Hospitality REIT, Inc.
 
194,560
3,134,362
Armada Hoffler Properties, Inc.
 
230,430
2,546,251
CareTrust REIT, Inc.
 
124,691
3,714,545
Centerspace
 
37,622
2,727,595
DiamondRock Hospitality Co.
 
296,392
2,750,518
Easterly Government Properties, Inc.(c)
 
188,927
2,327,581
Elme Communities
 
152,999
2,591,803
Essential Properties Realty Trust, Inc.(c)
 
107,163
3,654,258
Four Corners Property Trust, Inc.(c)
 
123,064
3,656,231
Getty Realty Corp.(c)
 
109,673
3,606,048
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap Low Volatility ETF (XSLV)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Real Estate-(continued)
LTC Properties, Inc.
 
97,401
$3,758,705
LXP Industrial Trust
 
307,001
2,870,459
Phillips Edison & Co., Inc.(c)
 
86,246
3,406,717
Saul Centers, Inc.
 
74,016
3,042,798
Sunstone Hotel Investors, Inc.
 
281,052
3,021,309
Tanger, Inc.
 
83,765
3,096,792
Universal Health Realty Income Trust(c)
 
58,353
2,461,913
Urban Edge Properties
 
135,291
3,113,046
Veris Residential, Inc.
 
146,183
2,667,840
Whitestone REIT
 
198,239
2,918,078
Xenia Hotels & Resorts, Inc.
 
152,481
2,345,158
 
 
69,542,273
Utilities-8.80%
American States Water Co.
 
36,775
3,137,275
Avista Corp.
 
81,410
3,149,753
California Water Service Group
 
55,196
2,825,483
Chesapeake Utilities Corp.
 
23,707
3,123,397
MDU Resources Group, Inc.
 
178,401
3,575,156
MGE Energy, Inc.
 
24,400
2,544,432
Northwest Natural Holding Co.
 
64,695
2,834,935
Otter Tail Corp.(c)
 
28,171
2,271,710
SJW Group
 
50,530
2,815,532
Unitil Corp.
 
46,851
2,811,997
 
 
29,089,670
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.94%
(Cost $297,148,901)
330,255,042
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-16.09%
Invesco Private Government Fund,
4.63%(d)(e)(f)
 
14,893,999
$14,893,999
Invesco Private Prime Fund, 4.71%(d)(e)(f)
 
38,256,673
38,268,150
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $53,162,868)
53,162,149
TOTAL INVESTMENTS IN SECURITIES-116.03%
(Cost $350,311,769)
383,417,191
OTHER ASSETS LESS LIABILITIES-(16.03)%
(52,958,768
)
NET ASSETS-100.00%
$330,458,423
 
Investment Abbreviations:
REIT
-Real Estate Investment Trust
 
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
Non-income producing security.
(c)
All or a portion of this security was out on loan at November 30, 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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$2,296,739
$(2,296,739
)
$-
$-
$-
$1,928
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
12,645,679
34,431,165
(32,182,845
)
-
-
14,893,999
153,031
*
Invesco Private Prime Fund
33,851,635
67,157,264
(62,737,315
)
(3,304
)
(130
)
38,268,150
408,538
*
Total
$46,497,314
$103,885,168
$(97,216,899
)
$(3,304
)
$(130
)
$53,162,149
$563,497
 
*
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 S&P SmallCap Low Volatility ETF (XSLV)—(continued)
November 30, 2024
(Unaudited)
(e)
The rate shown is the 7-day SEC standardized yield as of November 30, 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 S&P SmallCap Quality ETF (XSHQ)
November 30, 2024
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.97%
Communication Services-0.75%
Yelp, Inc.(b)
 
80,934
$3,093,297
Consumer Discretionary-19.01%
Academy Sports & Outdoors, Inc.(c)
 
98,287
4,840,635
American Eagle Outfitters, Inc.
 
225,229
4,333,406
Buckle, Inc. (The)(c)
 
61,129
3,184,210
Caleres, Inc.(c)
 
47,792
1,484,897
Dorman Products, Inc.(b)
 
31,555
4,417,069
Frontdoor, Inc.(b)
 
117,926
6,910,464
G-III Apparel Group Ltd.(b)(c)
 
67,830
2,009,803
Golden Entertainment, Inc.(c)
 
48,808
1,646,782
Green Brick Partners, Inc.(b)
 
28,637
2,046,400
Guess?, Inc.(c)
 
30,543
502,738
Installed Building Products, Inc.(c)
 
35,383
8,093,507
Kontoor Brands, Inc.
 
99,957
9,174,053
LCI Industries
 
31,139
3,761,902
M/I Homes, Inc.(b)
 
35,892
5,923,257
Monarch Casino & Resort, Inc.
 
18,007
1,512,768
Monro, Inc.
 
32,627
917,471
Oxford Industries, Inc.(c)
 
19,211
1,597,779
Patrick Industries, Inc.(c)
 
25,189
3,385,150
Signet Jewelers Ltd.(c)
 
65,183
6,531,337
Steven Madden Ltd.
 
80,124
3,652,052
Worthington Enterprises, Inc.
 
60,099
2,459,251
 
 
78,384,931
Consumer Staples-4.91%
Andersons, Inc. (The)
 
49,423
2,359,454
Central Garden & Pet Co., Class A(b)
 
69,257
2,340,194
Inter Parfums, Inc.(c)
 
20,296
2,793,947
John B. Sanfilippo & Son, Inc.
 
14,437
1,246,635
National Beverage Corp.(c)
 
38,745
1,913,616
USANA Health Sciences, Inc.(b)
 
11,928
459,586
WD-40 Co.(c)
 
23,372
6,476,147
WK Kellogg Co.
 
126,937
2,640,290
 
 
20,229,869
Energy-4.82%
CONSOL Energy, Inc.(c)
 
47,345
6,187,991
CVR Energy, Inc.(c)
 
40,795
789,383
Dorian LPG Ltd.
 
48,000
1,174,560
Helmerich & Payne, Inc.(c)
 
118,690
4,110,235
REX American Resources Corp.(b)
 
24,792
1,073,742
RPC, Inc.(c)
 
91,725
590,709
SM Energy Co.(c)
 
131,175
5,927,798
 
 
19,854,418
Financials-28.31%
AMERISAFE, Inc.
 
29,301
1,729,345
Artisan Partners Asset Management, Inc.,
Class A(c)
 
185,524
9,051,716
Assured Guaranty Ltd.
 
57,457
5,359,589
Axos Financial, Inc.(b)
 
68,162
5,647,222
BancFirst Corp.
 
17,540
2,214,951
Bancorp, Inc. (The)(b)
 
82,305
4,809,081
Cathay General Bancorp
 
79,741
4,147,329
City Holding Co.(c)
 
17,190
2,257,391
Cohen & Steers, Inc.(c)
 
50,415
5,276,434
Donnelley Financial Solutions, Inc.(b)
 
38,128
2,297,212
Employers Holdings, Inc.
 
28,607
1,526,470
First Bancorp
 
225,711
4,667,703
HCI Group, Inc.(c)
 
11,568
1,409,792
Jackson Financial, Inc., Class A
 
124,579
12,481,570
 
Shares
Value
Financials-(continued)
Lakeland Financial Corp.(c)
 
29,364
$2,157,079
Lincoln National Corp.
 
205,989
7,320,849
Mercury General Corp.
 
30,926
2,441,917
NMI Holdings, Inc., Class A(b)(c)
 
103,745
4,148,763
OFG Bancorp
 
57,977
2,633,315
Palomar Holdings, Inc.(b)(c)
 
32,832
3,555,706
Pathward Financial, Inc.
 
38,400
3,220,992
Payoneer Global, Inc.(b)
 
342,625
3,738,039
PJT Partners, Inc., Class A
 
51,058
8,545,067
Preferred Bank(c)
 
17,883
1,686,903
PROG Holdings, Inc.
 
51,200
2,491,392
Radian Group, Inc.
 
163,023
5,834,593
Virtus Investment Partners, Inc.
 
7,714
1,905,127
Westamerica Bancorporation
 
38,194
2,185,843
WisdomTree, Inc.(c)
 
164,659
1,967,675
 
 
116,709,065
Health Care-8.33%
Alkermes PLC(b)(c)
 
278,286
8,075,860
Astrana Health, Inc.(b)(c)
 
50,635
2,189,964
Collegium Pharmaceutical, Inc.(b)(c)
 
53,248
1,624,064
Corcept Therapeutics, Inc.(b)(c)
 
143,725
8,290,058
CorVel Corp.(b)
 
14,692
5,368,457
Harmony Biosciences Holdings, Inc.(b)(c)
 
46,730
1,620,129
National HealthCare Corp.
 
15,793
1,977,284
Pacira BioSciences, Inc.(b)(c)
 
56,217
950,629
Patterson Cos., Inc.(c)
 
92,109
1,979,422
Simulations Plus, Inc.(c)
 
18,675
593,305
STAAR Surgical Co., (Acquired 06/21/2024 -
11/27/2024; Cost $2,326,748)(b)(c)(d)
 
58,141
1,691,903
 
 
34,361,075
Industrials-20.14%
American Woodmark Corp.(b)(c)
 
19,848
1,801,801
Apogee Enterprises, Inc.
 
35,074
2,953,582
Armstrong World Industries, Inc.
 
70,758
11,309,251
Boise Cascade Co.
 
48,755
7,196,238
Brady Corp., Class A
 
59,846
4,481,867
CSG Systems International, Inc.
 
33,697
1,846,933
DNOW, Inc.(b)
 
122,965
1,850,623
Enerpac Tool Group Corp.
 
73,740
3,558,692
Federal Signal Corp.(c)
 
73,410
7,150,868
Franklin Electric Co., Inc.
 
48,984
5,304,967
Gibraltar Industries, Inc.(b)
 
41,293
2,991,265
GMS, Inc.(b)
 
45,657
4,581,680
Insteel Industries, Inc.
 
31,519
929,180
Interface, Inc.
 
69,801
1,853,217
John Bean Technologies Corp.(c)
 
62,987
7,937,622
Lindsay Corp.
 
12,484
1,657,501
Liquidity Services, Inc.(b)
 
27,348
699,288
MasterBrand, Inc.(b)
 
167,492
2,897,612
National Presto Industries, Inc.
 
5,965
475,530
Powell Industries, Inc.(c)
 
19,214
5,137,439
Standex International Corp.
 
12,468
2,591,972
Tennant Co.
 
25,818
2,281,537
Wabash National Corp.
 
77,468
1,536,190
 
 
83,024,855
Information Technology-5.57%
A10 Networks, Inc.
 
108,834
1,855,620
Agilysys, Inc.(b)(c)
 
38,529
5,174,445
Badger Meter, Inc.
 
37,457
8,121,427
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap Quality ETF (XSHQ)—(continued)
November 30, 2024
(Unaudited)
 
Shares
Value
Information Technology-(continued)
InterDigital, Inc.(c)
 
30,534
$5,983,442
Photronics, Inc.(b)
 
73,839
1,839,329
 
 
22,974,263
Materials-6.39%
Alpha Metallurgical Resources, Inc.(c)
 
18,783
4,612,542
Arch Resources, Inc.(c)
 
26,801
4,607,628
Balchem Corp.
 
34,839
6,289,136
Century Aluminum Co.(b)
 
119,422
2,726,404
Hawkins, Inc.
 
19,566
2,631,823
Innospec, Inc.
 
26,759
3,173,885
Worthington Steel, Inc.
 
51,024
2,287,916
 
 
26,329,334
Real Estate-0.83%
Urban Edge Properties
 
148,327
3,413,004
Utilities-0.91%
Otter Tail Corp.(c)
 
46,734
3,768,630
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $360,858,408)
412,142,741
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-22.40%
Invesco Private Government Fund,
4.63%(e)(f)(g)
 
25,872,167
$25,872,167
Invesco Private Prime Fund, 4.71%(e)(f)(g)
 
66,454,573
66,474,509
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $92,346,676)
92,346,676
TOTAL INVESTMENTS IN SECURITIES-122.37%
(Cost $453,205,084)
504,489,417
OTHER ASSETS LESS LIABILITIES-(22.37)%
(92,225,855
)
NET ASSETS-100.00%
$412,263,562
 
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 November 30, 2024.
(d)
Restricted security. The value of this security at November 30, 2024 represented less than 1% of the Fund’s Net Assets.
(e)
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 three months ended November 30, 2024.
 
 
Value
August 31, 2024
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
November 30, 2024
Dividend
Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$168,991
$1,537,935
$(1,706,926
)
$-
$-
$-
$1,743
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
14,909,742
59,947,437
(48,985,012
)
-
-
25,872,167
267,907
*
Invesco Private Prime Fund
44,284,944
133,033,106
(110,836,875
)
(3,956
)
(2,710
)
66,474,509
716,322
*
Total
$59,363,677
$194,518,478
$(161,528,813
)
$(3,956
)
$(2,710
)
$92,346,676
$985,972
 
*
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.
 
(f)
The rate shown is the 7-day SEC standardized yield as of November 30, 2024.
(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.
Notes to Quarterly Schedules of Portfolio Holdings
November 30, 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 November 30, 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 ESG S&P 500 Equal Weight ETF
Investments in Securities
Common Stocks & Other Equity Interests
$18,380,953
$-
$-
$18,380,953
Money Market Funds
14,959
1,919,314
-
1,934,273
Total Investments
$18,395,912
$1,919,314
$-
$20,315,226
Invesco MSCI USA ETF
Investments in Securities
Common Stocks & Other Equity Interests
$6,080,737,296
$-
$-
$6,080,737,296
Money Market Funds
-
70,705,366
-
70,705,366
Total Investments
$6,080,737,296
$70,705,366
$-
$6,151,442,662
Invesco Russell 1000 Equal Weight ETF
Investments in Securities
Common Stocks & Other Equity Interests
$664,916,742
$5,411
$56,038
$664,978,191
Money Market Funds
-
92,751,290
-
92,751,290
Total Investments
$664,916,742
$92,756,701
$56,038
$757,729,481
Invesco S&P 500® Enhanced Value ETF
Investments in Securities
Common Stocks & Other Equity Interests
$105,447,666
$-
$-
$105,447,666
Money Market Funds
12,129
1,697,006
-
1,709,135
Total Investments
$105,459,795
$1,697,006
$-
$107,156,801
Invesco S&P 500® ex-Rate Sensitive Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$42,439,938
$-
$-
$42,439,938
Money Market Funds
-
3,880,627
-
3,880,627
Total Investments
$42,439,938
$3,880,627
$-
$46,320,565
 
Level 1
Level 2
Level 3
Total
Invesco S&P 500® High Beta ETF
Investments in Securities
Common Stocks & Other Equity Interests
$386,214,787
$-
$-
$386,214,787
Money Market Funds
128,172
30,476,276
-
30,604,448
Total Investments
$386,342,959
$30,476,276
$-
$416,819,235
Invesco S&P 500 High Dividend Growers ETF
Investments in Securities
Common Stocks & Other Equity Interests
$3,286,370
$-
$-
$3,286,370
Money Market Funds
-
155,580
-
155,580
Total Investments
$3,286,370
$155,580
$-
$3,441,950
Invesco S&P 500® High Dividend Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$3,643,623,096
$-
$-
$3,643,623,096
Money Market Funds
-
218,501,802
-
218,501,802
Total Investments
$3,643,623,096
$218,501,802
$-
$3,862,124,898
Invesco S&P 500® Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$7,800,987,312
$-
$-
$7,800,987,312
Money Market Funds
-
250,333,852
-
250,333,852
Total Investments
$7,800,987,312
$250,333,852
$-
$8,051,321,164
Invesco S&P 500 Minimum Variance ETF
Investments in Securities
Common Stocks & Other Equity Interests
$5,767,896
$-
$-
$5,767,896
Money Market Funds
5
237,467
-
237,472
Total Investments
$5,767,901
$237,467
$-
$6,005,368
Invesco S&P 500® Momentum ETF
Investments in Securities
Common Stocks & Other Equity Interests
$4,178,586,036
$-
$-
$4,178,586,036
Money Market Funds
386,487
42,755,405
-
43,141,892
Total Investments
$4,178,972,523
$42,755,405
$-
$4,221,727,928
Invesco S&P 500 QVM Multi-factor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$1,096,541,890
$-
$-
$1,096,541,890
Money Market Funds
247,044
22,481,706
-
22,728,750
Total Investments
$1,096,788,934
$22,481,706
$-
$1,119,270,640
Invesco S&P MidCap 400 QVM Multi-factor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$348,485,077
$-
$-
$348,485,077
Money Market Funds
-
53,623,428
-
53,623,428
Total Investments
$348,485,077
$53,623,428
$-
$402,108,505
Invesco S&P MidCap Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$861,038,763
$-
$-
$861,038,763
Money Market Funds
-
91,570,217
-
91,570,217
Total Investments
$861,038,763
$91,570,217
$-
$952,608,980
Invesco S&P SmallCap 600 QVM Multi-factor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$216,056,522
$-
$0
$216,056,522
Money Market Funds
-
44,736,882
-
44,736,882
Total Investments
$216,056,522
$44,736,882
$0
$260,793,404
Invesco S&P SmallCap 600® GARP ETF
Investments in Securities
Common Stocks & Other Equity Interests
$2,257,720
$-
$-
$2,257,720
Money Market Funds
-
488,848
-
488,848
Total Investments
$2,257,720
$488,848
$-
$2,746,568
 
Level 1
Level 2
Level 3
Total
Invesco S&P SmallCap High Dividend Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$59,028,119
$-
$-
$59,028,119
Money Market Funds
-
15,937,174
-
15,937,174
Total Investments
$59,028,119
$15,937,174
$-
$74,965,293
Invesco S&P SmallCap Low Volatility ETF
Investments in Securities
Common Stocks & Other Equity Interests
$330,255,042
$-
$-
$330,255,042
Money Market Funds
-
53,162,149
-
53,162,149
Total Investments
$330,255,042
$53,162,149
$-
$383,417,191
Invesco S&P SmallCap Quality ETF
Investments in Securities
Common Stocks & Other Equity Interests
$412,142,741
$-
$-
$412,142,741
Money Market Funds
-
92,346,676
-
92,346,676
Total Investments
$412,142,741
$92,346,676
$-
$504,489,417