NPORT-EX 2 edgar.htm
Schedule of Investments
Invesco International Developed Dynamic Multifactor ETF (IMFL)
November 30, 2022
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.59%
Australia-12.92%
AGL Energy Ltd.(a)
  13,376   $72,048
Ampol Ltd.
  6,106   117,265
APA Group
  18,715   141,429
ASX Ltd.
  1,380   65,790
Atlas Arteria Ltd.
  5,380   25,629
Aurizon Holdings Ltd.
  24,418   62,557
BHP Group Ltd.
  180,427   5,551,865
Brambles Ltd.
  38,162   308,125
Cochlear Ltd.
  433   63,015
Coles Group Ltd.
  12,602   143,732
Commonwealth Bank of Australia
  2,480   181,490
CSL Ltd.
  1,463   296,545
Deterra Royalties Ltd.
  7,494   23,401
Endeavour Group Ltd.(a)
  44,029   207,121
Fortescue Metals Group Ltd.
  1,711   22,469
Glencore PLC
  105,756   706,933
Goodman Group
  18,818   245,352
GPT Group (The)
  15,060   45,997
Macquarie Group Ltd.
  823   100,457
Medibank Pvt. Ltd.
  196,765   388,599
National Australia Bank Ltd.
  6,267   133,769
Orora Ltd.
  13,192   27,896
QBE Insurance Group Ltd.
  3,825   33,445
Region RE Ltd.
  34,109   63,905
Rio Tinto Ltd.
  9,272   687,673
Rio Tinto PLC
  41,003   2,752,359
Sonic Healthcare Ltd.
  956   20,925
South32 Ltd.
  28,982   79,056
Tabcorp Holdings Ltd.
  49,410   35,250
Telstra Group Ltd.
  44,140   117,651
Vicinity Ltd.
  57,283   78,828
Wesfarmers Ltd.
  4,952   163,175
Woodside Energy Group Ltd.
  31,979   796,152
        13,759,903
Austria-0.13%
ANDRITZ AG
  511   27,726
Mondi PLC
  2,121   39,057
Verbund AG
  812   72,932
        139,715
Belgium-0.17%
Elia Group S.A./N.V.
  979   138,027
Warehouses De Pauw C.V.A.
  1,500   39,800
        177,827
Brazil-0.04%
Yara International ASA
  960   43,406
Canada-3.09%
Alimentation Couche-Tard, Inc.
  9,337   422,049
Bank of Nova Scotia (The)
  404   20,914
BCE, Inc.
  1,134   53,584
Canadian National Railway Co.
  7,159   911,918
Canadian Utilities Ltd., Class A
  1,009   27,381
CGI, Inc., Class A(b)
  372   32,225
Constellation Software, Inc.
  21   33,591
Dollarama, Inc.
  2,546   154,615
Enbridge, Inc.
  2,426   99,406
Fairfax Financial Holdings Ltd.
  231   131,505
Fortis, Inc.
  1,808   72,203
Franco-Nevada Corp.
  181   26,233
George Weston Ltd.
  515   63,990
  Shares   Value
Canada-(continued)
Hydro One Ltd.(c)
  2,465   $68,403
Intact Financial Corp.
  1,641   243,614
Loblaw Cos. Ltd.
  2,373   212,497
Metro, Inc.
  2,868   163,656
Royal Bank of Canada
  563   55,557
TC Energy Corp.
  445   19,563
TELUS Corp.
  1,280   27,041
Thomson Reuters Corp.
  3,489   407,629
Toronto-Dominion Bank (The)
  735   48,539
        3,296,113
China-0.16%
BOC Hong Kong Holdings Ltd.
  10,296   32,942
Budweiser Brewing Co. APAC Ltd.(c)
  22,748   66,070
Prosus N.V.(b)
  557   36,245
Want Want China Holdings Ltd.
  50,008   33,956
        169,213
Denmark-6.33%
AP Moller - Maersk A/S, Class A
  26   54,951
AP Moller - Maersk A/S, Class B
  31   66,922
Carlsberg A/S, Class B
  1,616   200,897
Coloplast A/S, Class B(a)
  1,372   160,845
Genmab A/S(b)
  217   99,037
Novo Nordisk A/S, Class B
  46,871   5,805,585
Novozymes A/S, Class B
  2,263   130,757
Orsted A/S(c)
  1,108   96,281
Tryg A/S
  5,702   131,264
        6,746,539
Finland-0.44%
Elisa OYJ
  2,624   135,129
Orion OYJ, Class B
  1,480   77,557
Sampo OYJ, Class A
  3,564   179,380
UPM-Kymmene OYJ
  2,173   79,324
        471,390
France-11.32%
Air Liquide S.A.
  5,794   839,374
Bureau Veritas S.A.
  1,588   41,487
Capgemini SE
  286   51,524
Carrefour S.A.(a)
  6,154   104,306
Cie Generale des Etablissements Michelin S.C.A.
  975   27,269
Danone S.A.
  2,057   106,360
Dassault Aviation S.A.
  680   106,951
Dassault Systemes SE
  1,377   51,119
Edenred
  1,857   101,519
Eiffage S.A.
  362   35,559
ENGIE S.A.
  8,111   122,837
EssilorLuxottica S.A.
  452   83,929
Eurazeo SE
  383   24,063
Getlink SE
  1,796   29,455
Hermes International
  1,175   1,911,016
Kering S.A.
  220   132,025
Legrand S.A.
  511   41,812
L’Oreal S.A.
  6,784   2,538,750
LVMH Moet Hennessy Louis Vuitton SE
  3,547   2,717,405
Orange S.A.(a)
  30,155   303,814
Pernod Ricard S.A.
  2,024   400,576
Remy Cointreau S.A.
  483   82,468
Sanofi
  8,212   734,119
Schneider Electric SE
  1,182   173,444
Teleperformance
  111   24,880
Thales S.A.
  605   76,092
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
France-(continued)
TotalEnergies SE(a)
  12,251   $757,225
Veolia Environnement S.A.
  1,898   48,462
Vinci S.A.
  3,449   347,463
Vivendi SE
  4,427   39,648
        12,054,951
Germany-4.74%
adidas AG
  173   21,828
Allianz SE
  127   26,804
BASF SE
  3,833   191,472
Bayer AG
  3,506   200,544
Bayerische Motoren Werke AG
  2,530   224,839
Bayerische Motoren Werke AG, Preference Shares
  689   58,698
Beiersdorf AG
  4,973   533,179
Brenntag SE
  380   23,500
Deutsche Boerse AG
  133   24,141
Deutsche Post AG
  4,252   165,950
Deutsche Telekom AG
  47,730   958,166
E.ON SE
  19,127   180,121
GEA Group AG
  2,675   106,851
Henkel AG & Co. KGaA
  2,266   148,624
Henkel AG & Co. KGaA, Preference Shares
  2,976   209,717
LEG Immobilien SE
  508   31,622
Mercedes-Benz Group AG
  1,685   111,993
Merck KGaA
  1,168   209,398
MTU Aero Engines AG
  164   33,840
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class R
  94   29,306
RWE AG
  22,292   967,103
SAP SE
  2,074   222,108
Scout24 SE(c)
  1,959   104,536
Siemens AG
  745   100,876
Symrise AG
  308   34,552
Telefonica Deutschland Holding AG
  28,941   68,275
Vantage Towers AG(a)
  1,935   65,190
        5,053,233
Hong Kong-1.36%
AIA Group Ltd.
  20,396   208,164
CK Asset Holdings Ltd.
  25,017   150,372
CK Hutchison Holdings Ltd.
  19,612   115,038
CK Infrastructure Holdings Ltd.
  8,526   43,300
CLP Holdings Ltd.
  14,893   108,489
Jardine Matheson Holdings Ltd.
  2,333   112,731
Link REIT
  10,786   73,436
MTR Corp. Ltd.
  9,806   47,523
PCCW Ltd.
  43,144   18,831
Power Assets Holdings Ltd.
  72,741   376,213
Sino Land Co. Ltd.
  100,016   124,661
Sun Hung Kai Properties Ltd.
  5,859   70,900
        1,449,658
Ireland-0.10%
CRH PLC
  1,352   53,384
Kerry Group PLC, Class A(a)
  528   49,356
        102,740
Israel-0.34%
Bank Leumi Le-Israel BM
  2,268   20,631
Bezeq The Israeli Telecommunication Corp. Ltd.
  28,554   52,293
Elbit Systems Ltd.
  531   92,140
  Shares   Value
Israel-(continued)
ICL Group Ltd.
  19,997   $165,695
Tower Semiconductor Ltd.(b)
  758   33,323
        364,082
Italy-1.53%
Davide Campari-Milano N.V.(a)
  2,704   28,377
Enel S.p.A.
  19,050   102,702
Eni S.p.A.(a)
  26,326   386,680
Ferrari N.V.
  3,302   724,143
Infrastrutture Wireless Italiane S.p.A.(a)(c)
  2,462   24,443
Italgas S.p.A.
  9,109   53,516
Moncler S.p.A.
  768   39,924
Prysmian S.p.A.
  1,467   51,104
Recordati Industria Chimica e Farmaceutica S.p.A.
  850   36,065
Snam S.p.A.
  9,129   46,339
Terna Rete Elettrica Nazionale S.p.A.(a)
  18,067   137,835
        1,631,128
Japan-13.04%
Ajinomoto Co., Inc.
  1,176   36,605
Astellas Pharma, Inc.
  13,328   205,210
Bandai Namco Holdings, Inc.
  4,900   321,831
Bridgestone Corp.
  2,536   95,306
Canon, Inc.
  18,630   428,834
Central Japan Railway Co.
  294   35,144
Chubu Electric Power Co., Inc.
  2,550   23,631
Chugai Pharmaceutical Co. Ltd.
  2,231   58,687
Dai Nippon Printing Co. Ltd.
  3,334   68,633
Daiichi Sankyo Co. Ltd.
  980   32,121
Daikin Industries Ltd.
  490   80,248
Daito Trust Construction Co. Ltd.
  840   92,723
Denso Corp.
  882   48,375
East Japan Railway Co.
  980   55,197
Electric Power Development Co. Ltd.
  1,568   23,922
ENEOS Holdings, Inc.
  38,046   127,455
FANUC Corp.
  490   72,632
Fast Retailing Co. Ltd.
  196   115,259
Hamamatsu Photonics K.K.
  759   39,608
Hankyu Hanshin Holdings, Inc.
  2,060   63,730
Haseko Corp.
  2,452   26,816
Hirose Electric Co. Ltd.
  294   39,319
Hitachi Ltd.
  1,864   99,132
Hitachi Transport System Ltd.
  392   24,974
Honda Motor Co. Ltd.
  6,668   161,205
Hoya Corp.
  414   42,414
Idemitsu Kosan Co. Ltd.
  2,452   56,933
Inpex Corp.
  2,452   26,938
ITOCHU Corp.
  17,700   551,857
Japan Tobacco, Inc.
  15,332   310,501
Kamigumi Co. Ltd.
  3,096   62,585
Kansai Electric Power Co., Inc. (The)
  5,786   48,806
Kao Corp.
  1,274   50,313
KDDI Corp.
  44,198   1,309,069
Keyence Corp.
  246   103,527
Kintetsu Group Holdings Co. Ltd.
  1,078   38,072
Komatsu Ltd.
  2,354   54,250
Konami Group Corp.
  392   18,360
Kyocera Corp.
  3,040   154,231
Kyushu Railway Co.
  1,864   40,584
Marubeni Corp.
  11,080   124,380
Maruichi Steel Tube Ltd.
  1,077   22,187
Mitsubishi Corp.
  16,572   552,864
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Japan-(continued)
Mitsubishi Electric Corp.
  12,278   $122,712
Mitsubishi Estate Co. Ltd.
  1,766   24,824
Mitsubishi Heavy Industries Ltd.
  1,666   65,761
Mitsubishi UFJ Financial Group, Inc.
  6,276   34,034
Mitsui & Co. Ltd.
  31,182   900,174
Nintendo Co. Ltd.
  25,102   1,069,057
Nippon Building Fund, Inc.
  5   23,125
Nippon Telegraph & Telephone Corp.
  18,181   498,560
Nissan Chemical Corp.
  882   43,471
Nissin Foods Holdings Co. Ltd.
  1,279   96,442
Nitto Denko Corp.
  1,755   109,992
Ono Pharmaceutical Co. Ltd.
  6,962   176,900
Oriental Land Co. Ltd.
  2,354   336,491
ORIX Corp.
  2,452   39,167
Osaka Gas Co. Ltd.
  6,899   105,571
Otsuka Holdings Co. Ltd.
  980   33,263
Pan Pacific International Holdings Corp.
  3,530   61,003
Sankyo Co. Ltd.
  3,236   125,457
Secom Co. Ltd.
  7,934   486,782
Sega Sammy Holdings, Inc.
  4,020   53,203
Sekisui Chemical Co. Ltd.
  3,530   49,372
Sekisui House Ltd.
  2,068   38,358
Seven & i Holdings Co. Ltd.
  6,472   261,334
Shimamura Co. Ltd.
  686   61,403
Shin-Etsu Chemical Co. Ltd.
  755   96,790
SHO-BOND Holdings Co. Ltd.
  1,227   53,566
SMC Corp.
  100   45,268
SoftBank Corp.
  19,120   206,325
Sojitz Corp.
  2,060   36,298
Sony Group Corp.
  2,298   188,234
Subaru Corp.
  2,648   45,137
Sumitomo Corp.
  5,786   94,154
Suntory Beverage & Food Ltd.
  1,406   47,319
Taisei Corp.
  1,666   50,055
TIS, Inc.
  2,158   60,989
Tobu Railway Co. Ltd.
  1,078   25,749
Toho Co. Ltd.
  2,277   87,299
Tokio Marine Holdings, Inc.
  5,296   108,197
Tokyo Gas Co. Ltd.
  8,275   151,015
Toppan, Inc.
  2,256   34,859
Toray Industries, Inc.
  5,394   28,952
Toshiba Corp.
  2,844   95,588
Toyota Motor Corp.
  74,522   1,082,146
Trend Micro, Inc.
  1,864   91,576
Unicharm Corp.
  2,108   77,420
USS Co. Ltd.
  8,709   144,819
Yakult Honsha Co. Ltd.
  3,138   198,181
Yamato Kogyo Co. Ltd.
  686   23,400
Yokogawa Electric Corp.
  1,864   34,793
Zensho Holdings Co. Ltd.
  980   24,509
        13,893,562
Luxembourg-0.03%
RTL Group S.A.
  785   32,034
Netherlands-3.31%
ASML Holding N.V.(a)
  1,507   907,019
Heineken Holding N.V.
  459   34,202
Heineken N.V.
  1,872   170,768
IMCD N.V.(a)
  249   36,669
JDE Peet’s N.V.
  1,568   48,219
Koninklijke Ahold Delhaize N.V.
  5,256   150,784
Koninklijke DSM N.V.
  959   123,414
  Shares   Value
Netherlands-(continued)
Koninklijke KPN N.V.
  104,237   $316,338
Randstad N.V.(a)
  1,636   94,379
Shell PLC
  30,066   869,141
Universal Music Group N.V.(a)
  2,165   51,320
Wolters Kluwer N.V.
  6,580   719,149
        3,521,402
New Zealand-0.14%
Spark New Zealand Ltd.
  47,744   153,373
Norway-1.34%
Equinor ASA
  33,232   1,263,470
Gjensidige Forsikring ASA
  2,336   44,709
Kongsberg Gruppen ASA
  2,074   84,830
Orkla ASA
  5,138   36,099
        1,429,108
Poland-0.17%
Dino Polska S.A.(a)(b)(c)
  785   63,582
Polski Koncern Naftowy ORLEN S.A.
  8,262   119,675
        183,257
Portugal-0.06%
Jeronimo Martins SGPS S.A.
  2,788   61,311
Singapore-0.23%
CapitaLand Ascendas REIT
  12,433   25,513
Keppel Corp. Ltd.
  5,492   30,479
Singapore Exchange Ltd.
  13,306   88,566
Singapore Technologies Engineering Ltd.
  9,954   25,078
Singapore Telecommunications Ltd.
  37,948   75,801
        245,437
South Africa-0.24%
Anglo American PLC
  6,224   255,758
South Korea-5.19%
Cheil Worldwide, Inc.
  3,346   62,055
Hyundai Glovis Co. Ltd.
  392   53,176
Hyundai Mobis Co. Ltd.
  371   60,669
Hyundai Motor Co.
  236   30,685
Kangwon Land, Inc.(b)
  3,347   64,283
KB Financial Group, Inc.
  664   26,670
KEPCO Plant Service & Engineering Co. Ltd.
  913   24,052
Kia Corp.
  3,996   210,585
Korea Zinc Co. Ltd.
  294   142,405
KT&G Corp.
  6,200   470,223
LG Corp.
  1,990   128,552
LG Energy Solution Ltd.(b)
  151   68,164
Samsung C&T Corp.
  1,533   143,817
Samsung Electronics Co. Ltd.
  62,492   3,001,098
Samsung Electronics Co. Ltd., Preference Shares
  9,719   418,139
Samsung SDI Co. Ltd.
  69   38,854
Samsung SDS Co. Ltd.
  399   39,058
Shinhan Financial Group Co. Ltd.
  866   25,276
SK Hynix, Inc.
  6,102   403,625
SK Telecom Co. Ltd.
  1,948   74,158
S-Oil Corp.
  590   39,010
        5,524,554
Spain-1.08%
Endesa S.A.
  2,936   53,915
Iberdrola S.A.
  56,159   628,968
Naturgy Energy Group S.A.
  6,111   169,326
Red Electrica Corp. S.A.
  10,121   176,004
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Spain-(continued)
Repsol S.A.
  4,226   $64,546
Telefonica S.A.
  16,730   61,641
        1,154,400
Sweden-2.94%
Assa Abloy AB, Class B
  3,658   83,183
Atlas Copco AB, Class B
  6,606   74,150
Axfood AB
  731   19,467
Boliden AB(a)
  2,173   80,966
Epiroc AB, Class A
  4,977   95,433
Epiroc AB, Class B
  4,417   73,060
Essity AB, Class B
  1,866   45,201
Holmen AB, Class B
  1,108   45,280
Industrivarden AB, Class A
  5,011   128,119
Industrivarden AB, Class C
  5,178   131,569
Investor AB, Class A
  31,187   594,805
Investor AB, Class B(a)
  79,349   1,462,554
L E Lundbergforetagen AB, Class B
  718   31,019
Svenska Cellulosa AB S.C.A., Class B
  3,335   44,977
Tele2 AB, Class B
  6,337   55,286
Telefonaktiebolaget LM Ericsson, Class B
  3,706   22,985
Telia Co. AB
  21,362   57,797
Volvo AB, Class B
  4,793   87,760
        3,133,611
Switzerland-5.92%
ABB Ltd.
  11,342   354,853
Accelleron Industries AG(b)
  566   11,421
Barry Callebaut AG
  18   36,642
Chocoladefabriken Lindt & Spruengli AG, PC
  20   210,181
Cie Financiere Richemont S.A.
  2,852   376,788
DKSH Holding AG
  489   36,668
EMS-Chemie Holding AG
  48   33,554
Geberit AG
  55   26,468
Givaudan S.A.
  8   27,099
Holcim AG(b)
  1,563   80,238
Kuehne + Nagel International AG, Class R
  115   27,769
Novartis AG
  51,512   4,561,272
Partners Group Holding AG
  25   24,856
PSP Swiss Property AG
  738   80,870
SGS S.A.
  28   65,025
Swatch Group AG (The), BR(a)
  144   37,930
Swiss Prime Site AG
  255   21,196
Swisscom AG
  463   247,181
Zurich Insurance Group AG
  100   48,094
        6,308,105
United Kingdom-11.69%
3i Group PLC
  40,777   667,107
Admiral Group PLC
  1,414   34,116
Auto Trader Group PLC(c)
  31,934   218,889
BAE Systems PLC
  60,445   592,888
BP PLC
  9,135   54,001
British American Tobacco PLC
  30,720   1,245,593
British Land Co. PLC (The)
  9,144   43,629
BT Group PLC
  17,929   25,921
Bunzl PLC
  3,997   145,086
Burberry Group PLC
  1,709   44,567
Compass Group PLC
  5,167   115,752
Croda International PLC
  609   49,418
DCC PLC
  444   23,510
Diageo PLC
  48,546   2,228,854
Experian PLC
  4,278   150,292
  Shares   Value
United Kingdom-(continued)
Haleon PLC(b)
  20,046   $68,206
Halma PLC
  890   23,504
HomeServe PLC
  6,998   99,257
HSBC Holdings PLC
  9,675   58,928
Imperial Brands PLC
  21,994   558,251
InterContinental Hotels Group PLC
  414   24,070
Land Securities Group PLC
  8,565   63,780
National Grid PLC
  55,830   681,148
Pearson PLC
  3,547   42,140
Reckitt Benckiser Group PLC
  12,686   906,911
RELX PLC
  39,550   1,094,142
Rightmove PLC
  12,120   80,772
RS GROUP PLC
  10,938   122,083
Sage Group PLC (The)
  24,216   230,767
Segro PLC
  15,713   150,802
Severn Trent PLC
  2,664   86,917
Smiths Group PLC
  2,332   44,303
SSE PLC
  18,307   375,995
Tesco PLC
  45,002   123,415
Unilever PLC
  31,518   1,563,499
United Utilities Group PLC
  6,931   84,973
Vodafone Group PLC
  300,393   329,800
        12,453,286
United States-11.54%
Amcor PLC, CDI
  26,581   323,536
Computershare Ltd.
  17,818   332,207
Ferguson PLC
  3,082   345,297
GSK PLC
  43,310   726,956
Nestle S.A.
  42,772   5,055,109
QIAGEN N.V.(b)
  3,641   177,746
Roche Holding AG
  14,643   4,730,638
Roche Holding AG, BR(a)
  752   298,669
Stellantis N.V.
  2,905   44,933
Waste Connections, Inc.
  1,767   253,039
        12,288,130
Total Common Stocks & Other Equity Interests

(Cost $100,431,186)
  106,097,226
Money Market Funds-0.05%
Invesco Government & Agency Portfolio, Institutional Class, 3.73%(d)(e)

(Cost $54,101)
  54,101   54,101
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.64%

(Cost $100,485,287)
  106,151,327
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-4.46%
Invesco Private Government Fund, 3.83%(d)(e)(f)
  1,330,536   1,330,536
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 4.15%(d)(e)(f)
  3,419,607   $3,420,291
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $4,750,291)
  4,750,827
TOTAL INVESTMENTS IN SECURITIES-104.10%

(Cost $105,235,578)
  110,902,154
OTHER ASSETS LESS LIABILITIES-(4.10)%
  (4,368,657)
NET ASSETS-100.00%
  $106,533,497
Investment Abbreviations:
BR-Bearer Shares
CDI-CREST Depository Interest
PC-Participation Certificate
REIT-Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) All or a portion of this security was out on loan at November 30, 2022.
(b) Non-income producing security.
(c) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at November 30, 2022 was $642,204, which represented less than 1% of the Fund’s Net Assets.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022.
    
  Value
August 31, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2022 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $144,588   $1,379,369   $(1,469,856)   $-   $-   $54,101   $879
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 900,342   3,934,152   (3,503,958)   -   -   1,330,536   6,966*
Invesco Private Prime Fund 2,315,165   6,020,702   (4,916,039)   372   91   3,420,291   19,550*
Total $3,360,095   $11,334,223   $(9,889,853)   $372   $91   $4,804,928   $27,395
    
* 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, 2022.
(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® Dynamic Multifactor ETF (OMFL)
November 30, 2022
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.79%
Communication Services-4.67%
Activision Blizzard, Inc.
  22,075   $1,632,446
Alphabet, Inc., Class A(b)
  521,494   52,665,679
Alphabet, Inc., Class C(b)
  382,305   38,784,842
AT&T, Inc.
  264,969   5,108,602
Comcast Corp., Class A
  44,021   1,612,930
Electronic Arts, Inc.
  17,508   2,289,696
Interpublic Group of Cos., Inc. (The)
  22,512   773,512
Meta Platforms, Inc., Class A(b)
  5,809   686,043
T-Mobile US, Inc.(b)
  7,021   1,063,401
Verizon Communications, Inc.
  91,006   3,547,414
        108,164,565
Consumer Discretionary-5.70%
Advance Auto Parts, Inc.
  4,566   689,420
Amazon.com, Inc.(b)
  15,387   1,485,461
AutoZone, Inc.(b)
  5,269   13,588,751
Booking Holdings, Inc.(b)
  928   1,929,730
Chipotle Mexican Grill, Inc.(b)
  847   1,378,035
Dollar General Corp.
  13,680   3,497,702
Dollar Tree, Inc.(b)(c)
  11,447   1,720,370
Gentex Corp.
  27,518   795,270
Genuine Parts Co.
  14,541   2,665,802
Home Depot, Inc. (The)
  119,035   38,566,150
Lowe’s Cos., Inc.
  56,817   12,076,453
McDonald’s Corp.
  64,386   17,563,857
NIKE, Inc., Class B
  49,177   5,394,225
O’Reilly Automotive, Inc.(b)
  12,172   10,523,181
Service Corp. International
  13,281   948,927
Starbucks Corp.
  11,465   1,171,723
Target Corp.
  4,315   720,907
TJX Cos., Inc. (The)
  106,182   8,499,869
Tractor Supply Co.
  18,818   4,258,702
Yum! Brands, Inc.
  35,076   4,512,878
        131,987,413
Consumer Staples-12.81%
Altria Group, Inc.
  262,384   12,221,847
Archer-Daniels-Midland Co.
  190,385   18,562,537
Bunge Ltd.
  6,905   723,920
Church & Dwight Co., Inc.
  21,684   1,775,269
Coca-Cola Co. (The)
  481,947   30,656,649
Colgate-Palmolive Co.
  89,045   6,899,207
Constellation Brands, Inc., Class A
  6,579   1,693,106
Costco Wholesale Corp.
  124,488   67,130,154
Darling Ingredients, Inc.(b)
  9,353   671,826
Estee Lauder Cos., Inc. (The), Class A
  4,124   972,398
General Mills, Inc.
  32,197   2,746,404
Hershey Co. (The)
  16,702   3,927,809
JM Smucker Co. (The)
  5,153   793,614
Kellogg Co.
  14,252   1,039,683
Keurig Dr Pepper, Inc.
  25,357   980,555
Kimberly-Clark Corp.
  24,924   3,380,442
Kroger Co. (The)
  78,117   3,842,575
McCormick & Co., Inc.
  9,121   776,927
Mondelez International, Inc., Class A
  63,700   4,306,757
Monster Beverage Corp.(b)
  37,713   3,879,159
PepsiCo, Inc.
  160,652   29,802,553
Philip Morris International, Inc.
  208,546   20,785,780
Procter & Gamble Co. (The)
  420,311   62,693,589
Tyson Foods, Inc., Class A
  19,557   1,296,238
  Shares   Value
Consumer Staples-(continued)
Walgreens Boots Alliance, Inc.
  14,039   $582,618
Walmart, Inc.
  95,098   14,494,837
        296,636,453
Energy-10.72%
Baker Hughes Co., Class A
  17,120   496,822
Cheniere Energy, Inc.
  8,456   1,482,844
Chesapeake Energy Corp.(c)
  8,101   838,453
Chevron Corp.
  502,661   92,142,788
ConocoPhillips
  98,692   12,189,449
EOG Resources, Inc.
  35,436   5,029,431
Exxon Mobil Corp.
  1,077,273   119,943,576
Hess Corp.
  5,202   748,620
Kinder Morgan, Inc.
  50,830   971,870
Marathon Petroleum Corp.
  26,097   3,178,876
Phillips 66
  36,928   4,004,472
Pioneer Natural Resources Co.
  8,474   1,999,779
Valero Energy Corp.
  28,764   3,843,446
Williams Cos., Inc. (The)
  39,851   1,382,830
        248,253,256
Financials-8.64%
Allstate Corp. (The)
  11,439   1,531,682
American Express Co.
  10,590   1,668,878
Aon PLC, Class A
  9,113   2,809,356
Apollo Global Management, Inc.
  14,072   976,456
Arch Capital Group Ltd.(b)(c)
  22,123   1,325,389
Arthur J. Gallagher & Co.
  7,139   1,421,446
Berkshire Hathaway, Inc., Class B(b)
  364,935   116,268,291
Blackstone, Inc., Class A
  111,763   10,229,668
Brown & Brown, Inc.
  19,841   1,182,325
Cboe Global Markets, Inc.
  6,757   857,058
Chubb Ltd.
  27,856   6,116,899
Cincinnati Financial Corp.
  22,072   2,449,109
FactSet Research Systems, Inc.
  10,718   4,944,106
JPMorgan Chase & Co.
  5,124   708,034
Markel Corp.(b)
  991   1,312,917
Marsh & McLennan Cos., Inc.
  108,963   18,870,212
Moody’s Corp.
  9,452   2,819,248
MSCI, Inc.
  3,996   2,029,289
Progressive Corp. (The)
  49,152   6,495,437
S&P Global, Inc.
  29,220   10,308,816
SEI Investments Co.(c)
  10,883   677,793
Travelers Cos., Inc. (The)
  6,710   1,273,625
W.R. Berkley Corp.
  9,990   762,037
Wells Fargo & Co.
  14,000   671,300
Willis Towers Watson PLC
  9,390   2,311,443
        200,020,814
Health Care-25.23%
Abbott Laboratories
  255,838   27,523,052
AbbVie, Inc.
  202,738   32,677,311
Agilent Technologies, Inc.(c)
  11,302   1,751,584
Amgen, Inc.
  49,836   14,273,030
Becton, Dickinson and Co.
  16,470   4,106,630
Boston Scientific Corp.(b)
  20,245   916,491
Bristol-Myers Squibb Co.
  254,049   20,395,054
Chemed Corp.
  2,973   1,545,960
Cigna Corp.
  9,670   3,180,366
CVS Health Corp.
  114,688   11,684,413
Danaher Corp.
  26,928   7,362,384
Edwards Lifesciences Corp.(b)
  41,917   3,238,088
Elevance Health, Inc.
  15,755   8,396,154
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Health Care-(continued)
Eli Lilly and Co.
  137,373   $50,976,373
Gilead Sciences, Inc.
  76,388   6,709,158
HCA Healthcare, Inc.
  4,537   1,089,878
Henry Schein, Inc.(b)
  23,690   1,916,995
Hologic, Inc.(b)(c)
  47,299   3,602,292
Incyte Corp.(b)(c)
  7,345   585,176
Intuitive Surgical, Inc.(b)
  4,884   1,320,585
Johnson & Johnson
  532,631   94,808,318
Laboratory Corp. of America Holdings
  5,557   1,337,570
McKesson Corp.
  51,919   19,816,444
Medtronic PLC
  24,244   1,916,246
Merck & Co., Inc.
  230,800   25,415,696
Mettler-Toledo International, Inc.(b)
  1,748   2,568,791
Molina Healthcare, Inc.(b)
  6,556   2,207,864
Pfizer, Inc.
  2,107,682   105,658,099
Premier, Inc., Class A
  16,625   554,444
Quest Diagnostics, Inc.
  21,341   3,240,204
Regeneron Pharmaceuticals, Inc.(b)
  21,491   16,154,785
ResMed, Inc.
  5,731   1,319,276
Stryker Corp.
  8,228   1,924,447
Thermo Fisher Scientific, Inc.
  10,174   5,699,678
United Therapeutics Corp.(b)
  3,091   865,140
UnitedHealth Group, Inc.
  130,842   71,670,014
Vertex Pharmaceuticals, Inc.(b)
  65,487   20,720,087
Waters Corp.(b)
  4,445   1,540,637
West Pharmaceutical Services, Inc.
  4,601   1,079,671
Zoetis, Inc.
  16,555   2,551,788
        584,300,173
Industrials-5.92%
3M Co.
  11,715   1,475,739
AMETEK, Inc.
  5,641   803,391
C.H. Robinson Worldwide, Inc.
  10,942   1,096,607
Caterpillar, Inc.
  13,822   3,267,659
Cintas Corp.
  5,678   2,621,987
Copart, Inc.(b)
  24,167   1,608,555
CSX Corp.
  91,866   3,003,099
Cummins, Inc.
  6,308   1,584,317
Deere & Co.
  4,191   1,848,231
Eaton Corp. PLC
  10,600   1,732,570
Emerson Electric Co.
  19,093   1,828,537
Expeditors International of Washington, Inc.
  15,463   1,794,636
Fastenal Co.
  87,110   4,487,036
FTI Consulting, Inc.(b)(c)
  7,297   1,261,067
General Dynamics Corp.
  19,789   4,994,546
Graco, Inc.
  11,480   803,256
Honeywell International, Inc.
  16,145   3,544,635
Hubbell, Inc.
  2,537   644,550
Illinois Tool Works, Inc.
  18,656   4,243,680
J.B. Hunt Transport Services, Inc.
  14,667   2,697,115
L3Harris Technologies, Inc.
  13,931   3,163,451
Landstar System, Inc.(c)
  5,249   907,972
Lincoln Electric Holdings, Inc.(c)
  5,667   838,036
Lockheed Martin Corp.
  46,545   22,583,169
Masco Corp.
  15,691   796,789
Nordson Corp.
  3,861   913,088
Norfolk Southern Corp.
  6,424   1,647,756
Northrop Grumman Corp.
  14,355   7,655,378
Old Dominion Freight Line, Inc.
  10,732   3,247,610
Otis Worldwide Corp.
  18,764   1,465,281
PACCAR, Inc.
  12,360   1,309,048
Raytheon Technologies Corp.
  39,350   3,884,632
Republic Services, Inc.
  31,752   4,422,736
  Shares   Value
Industrials-(continued)
Robert Half International, Inc.(c)
  15,403   $1,213,448
Rollins, Inc.
  47,850   1,935,054
Snap-on, Inc.
  5,916   1,423,390
Tetra Tech, Inc.
  6,393   988,294
Union Pacific Corp.
  37,567   8,168,193
United Parcel Service, Inc., Class B
  39,949   7,579,524
Verisk Analytics, Inc.
  9,098   1,671,394
W.W. Grainger, Inc.
  4,106   2,476,164
Waste Management, Inc.
  75,846   12,720,891
Watsco, Inc.(c)
  3,095   832,493
        137,185,004
Information Technology-19.53%
Accenture PLC, Class A
  91,381   27,499,284
Adobe, Inc.(b)
  7,341   2,532,131
Advanced Micro Devices, Inc.(b)
  23,377   1,814,757
Amdocs Ltd.
  25,091   2,229,586
Amphenol Corp., Class A
  22,607   1,818,281
Apple, Inc.
  761,541   112,730,914
Applied Materials, Inc.
  16,012   1,754,915
Arista Networks, Inc.(b)
  15,117   2,105,798
Aspen Technology, Inc.(b)(c)
  3,628   836,254
Automatic Data Processing, Inc.
  91,316   24,120,208
Broadcom, Inc.
  23,610   13,009,818
Broadridge Financial Solutions, Inc.
  6,584   981,740
Cadence Design Systems, Inc.(b)
  45,332   7,798,917
Cisco Systems, Inc.
  260,694   12,961,706
Cognizant Technology Solutions Corp., Class A
  68,395   4,254,853
Corning, Inc.
  16,919   577,446
Fiserv, Inc.(b)
  7,035   734,173
Fortinet, Inc.(b)
  55,777   2,965,105
Gartner, Inc.(b)
  6,908   2,420,356
HP, Inc.(c)
  148,658   4,465,686
Intel Corp.
  46,119   1,386,798
International Business Machines Corp.
  11,358   1,691,206
Intuit, Inc.
  1,959   798,469
Jack Henry & Associates, Inc.
  18,465   3,496,348
Juniper Networks, Inc.
  25,281   840,341
Keysight Technologies, Inc.(b)
  14,170   2,563,211
KLA Corp.
  11,329   4,453,996
Lam Research Corp.
  1,192   563,077
Mastercard, Inc., Class A
  57,970   20,660,508
Micron Technology, Inc.
  10,412   600,252
Microsoft Corp.
  416,745   106,328,319
Monolithic Power Systems, Inc.
  3,406   1,300,956
Motorola Solutions, Inc.
  12,180   3,315,396
NVIDIA Corp.
  24,426   4,133,612
Oracle Corp.
  27,489   2,282,412
Palo Alto Networks, Inc.(b)
  3,828   650,377
Paychex, Inc.
  88,477   10,973,802
QUALCOMM, Inc.
  55,410   7,008,811
Roper Technologies, Inc.
  1,422   624,102
ServiceNow, Inc.(b)
  2,296   955,825
Synopsys, Inc.(b)
  26,504   8,999,168
Texas Instruments, Inc.
  112,882   20,370,686
Visa, Inc., Class A(c)
  95,288   20,677,496
        452,287,096
Materials-2.59%
Air Products and Chemicals, Inc.
  3,087   957,464
Amcor PLC
  59,446   734,158
Ardagh Group S.A.(b)(d)
  16,236   172,345
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Materials-(continued)
Celanese Corp.
  6,206   $665,904
CF Industries Holdings, Inc.
  17,437   1,886,509
Corteva, Inc.
  112,620   7,563,559
Dow, Inc.
  22,096   1,126,233
DuPont de Nemours, Inc.
  11,855   835,896
Huntsman Corp.
  19,702   547,322
Linde PLC (United Kingdom)
  74,432   25,044,879
LyondellBasell Industries N.V., Class A
  16,586   1,409,976
Newmont Corp.
  63,099   2,995,310
Nucor Corp.
  42,388   6,356,081
Packaging Corp. of America
  10,263   1,394,639
Reliance Steel & Aluminum Co.
  11,065   2,337,924
Royal Gold, Inc.(c)
  5,265   591,417
Sherwin-Williams Co. (The)
  13,557   3,378,133
Steel Dynamics, Inc.(c)
  18,486   1,921,250
        59,918,999
Real Estate-1.44%
American Tower Corp.
  9,676   2,140,815
AvalonBay Communities, Inc.
  5,803   1,014,945
CBRE Group, Inc., Class A(b)(c)
  12,170   968,732
Crown Castle, Inc.
  5,733   810,818
Digital Realty Trust, Inc.
  4,144   466,034
Equity Residential
  21,311   1,382,231
Extra Space Storage, Inc.(c)
  19,935   3,203,355
Mid-America Apartment Communities, Inc.
  5,543   913,930
Prologis, Inc.
  58,634   6,906,499
Public Storage
  37,140   11,066,234
Weyerhaeuser Co.
  137,243   4,489,219
        33,362,812
Utilities-2.54%
Alliant Energy Corp.
  11,898   669,857
Ameren Corp.
  16,464   1,470,564
American Electric Power Co., Inc.
  40,459   3,916,431
American Water Works Co., Inc.
  4,289   650,899
CMS Energy Corp.
  30,302   1,850,543
Consolidated Edison, Inc.
  30,671   3,006,985
Dominion Energy, Inc.
  48,247   2,948,374
DTE Energy Co.
  26,650   3,091,667
Duke Energy Corp.
  51,714   5,167,780
  Shares   Value
Utilities-(continued)
Edison International
  14,580   $971,903
Entergy Corp.
  11,855   1,378,381
Evergy, Inc.
  12,489   739,474
Eversource Energy
  21,596   1,789,445
Exelon Corp.
  86,601   3,582,683
FirstEnergy Corp.
  26,216   1,081,148
National Fuel Gas Co.
  16,789   1,111,935
NextEra Energy, Inc.
  67,980   5,757,906
NiSource, Inc.
  26,901   751,614
NRG Energy, Inc.
  19,335   820,771
OGE Energy Corp.
  15,144   612,726
PPL Corp.
  52,029   1,535,896
Public Service Enterprise Group, Inc.
  28,723   1,739,178
Sempra Energy
  16,471   2,737,316
Southern Co. (The)
  93,407   6,318,049
WEC Energy Group, Inc.
  25,706   2,548,493
Xcel Energy, Inc.
  35,464   2,490,282
        58,740,300
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.79%

(Cost $2,175,556,436)
  2,310,856,885
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.62%
Invesco Private Government Fund, 3.83%(e)(f)(g)
  10,486,664   10,486,664
Invesco Private Prime Fund, 4.15%(e)(f)(g)
  26,953,097   26,958,487
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $37,441,407)
  37,445,151
TOTAL INVESTMENTS IN SECURITIES-101.41%

(Cost $2,212,997,843)
  2,348,302,036
OTHER ASSETS LESS LIABILITIES-(1.41)%
  (32,664,708)
NET ASSETS-100.00%
  $2,315,637,328
 
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, 2022.
(d) Security valued using significant unobservable inputs (Level 3). See Note 1.
(e) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022.
    
  Value
August 31, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2022 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $1,813,704   $16,776,017   $(18,589,721)   $-   $-   $-   $11,489
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2022
(Unaudited)
  Value
August 31, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2022 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $7,510,706   $50,132,745   $(47,156,787)   $-   $-   $10,486,664   $82,397*
Invesco Private Prime Fund 19,562,098   108,267,979   (100,880,524)   3,744   5,190   26,958,487   225,348*
Total $28,886,508   $175,176,741   $(166,627,032)   $3,744   $5,190   $37,445,151   $319,234
    
* 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, 2022.
(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 Russell 2000® Dynamic Multifactor ETF (OMFS)
November 30, 2022
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.87%
Communication Services-1.18%
Cargurus, Inc.(b)(c)
  3,040   $39,763
Cogent Communications Holdings, Inc.
  2,757   160,044
EchoStar Corp., Class A(b)(c)
  2,465   42,891
Gray Television, Inc.
  2,374   27,776
Iridium Communications, Inc.(b)
  8,451   448,748
John Wiley & Sons, Inc., Class A
  4,968   235,533
Liberty Media Corp.-Liberty Braves, Class C(b)(c)
  4,495   146,447
Radius Global Infrastructure, Inc., Class A(b)(c)
  7,176   90,848
Scholastic Corp.
  2,280   93,754
Shutterstock, Inc.
  757   40,742
TechTarget, Inc.(b)
  3,366   153,691
TEGNA, Inc.
  33,858   668,357
Telephone & Data Systems, Inc.(c)
  4,119   43,414
WideOpenWest, Inc.(b)(c)
  6,486   67,325
Yelp, Inc.(b)(c)
  2,378   73,599
Ziff Davis, Inc.(b)
  2,205   203,433
        2,536,365
Consumer Discretionary-5.77%
Academy Sports & Outdoors, Inc.(c)
  8,850   446,748
Accel Entertainment, Inc.(b)(c)
  10,076   86,150
Acushnet Holdings Corp.
  6,487   294,834
Adtalem Global Education, Inc.(b)
  3,462   144,019
Arko Corp.
  18,462   174,097
Bloomin’ Brands, Inc.
  2,769   62,358
Boot Barn Holdings, Inc.(b)
  1,879   126,551
Buckle, Inc. (The)(c)
  4,541   199,577
Carriage Services, Inc.
  1,738   43,711
Cavco Industries, Inc.(b)
  1,674   384,401
Cracker Barrel Old Country Store, Inc.(c)
  1,019   116,981
Dillard’s, Inc., Class A(c)
  663   238,481
Dorman Products, Inc.(b)
  2,753   246,779
Ermenegildo Zegna N.V. (Italy)(c)
  9,302   102,229
Ethan Allen Interiors, Inc.
  3,909   111,211
Foot Locker, Inc.(c)
  1,599   63,640
Fox Factory Holding Corp.(b)(c)
  584   61,962
Gentherm, Inc.(b)
  7,171   513,372
Graham Holdings Co., Class B
  335   215,633
Group 1 Automotive, Inc.
  1,570   303,544
Helen of Troy Ltd.(b)(c)
  1,121   110,463
Hilton Grand Vacations, Inc.(b)(c)
  2,424   106,704
Kontoor Brands, Inc.
  1,598   69,433
Laureate Education, Inc., Class A(c)
  43,130   452,002
LCI Industries
  1,717   169,743
Malibu Boats, Inc., Class A(b)(c)
  716   41,320
MarineMax, Inc.(b)
  1,726   57,010
Meritage Homes Corp.(b)
  586   50,636
Monarch Casino & Resort, Inc.(b)(c)
  1,019   86,462
Monro, Inc.
  1,079   49,062
Movado Group, Inc.
  2,983   96,023
Murphy USA, Inc.
  12,117   3,584,330
ODP Corp. (The)(b)
  2,134   102,709
Oxford Industries, Inc.
  2,150   242,649
Papa John’s International, Inc.(c)
  1,850   154,031
Perdoceo Education Corp.(b)
  6,799   97,566
Skyline Champion Corp.(b)
  3,077   159,973
Standard Motor Products, Inc.
  1,917   73,632
Steven Madden Ltd.
  11,515   397,728
Strategic Education, Inc.
  2,791   228,304
Stride, Inc.(b)(c)
  6,399   226,589
Sturm Ruger & Co., Inc.
  2,599   142,763
Taylor Morrison Home Corp., Class A(b)
  3,917   119,038
  Shares   Value
Consumer Discretionary-(continued)
Texas Roadhouse, Inc.
  7,670   $761,784
Tri Pointe Homes, Inc.(b)
  6,218   114,660
Universal Technical Institute, Inc.(b)(c)
  6,588   47,697
Vista Outdoor, Inc.(b)(c)
  1,616   45,199
Visteon Corp.(b)
  1,583   232,384
Weyco Group, Inc.
  2,386   61,082
Winmark Corp.(c)
  1,292   310,080
Winnebago Industries, Inc.(c)
  1,264   74,058
        12,401,392
Consumer Staples-4.09%
Alico, Inc.(c)
  1,336   41,322
Andersons, Inc. (The)
  8,551   329,214
BellRing Brands, Inc.(b)(c)
  11,866   295,582
Cal-Maine Foods, Inc.(c)
  14,424   840,631
Central Garden & Pet Co., Class A(b)
  1,640   64,075
Coca-Cola Consolidated, Inc.
  1,363   670,323
Edgewell Personal Care Co.
  2,772   119,778
Energizer Holdings, Inc.
  2,512   85,634
Hain Celestial Group, Inc. (The)(b)(c)
  2,507   46,981
Hostess Brands, Inc.(b)
  34,808   918,931
Ingles Markets, Inc., Class A
  4,880   493,368
Inter Parfums, Inc.
  4,496   428,424
J&J Snack Foods Corp.
  1,538   252,263
John B. Sanfilippo & Son, Inc.
  1,591   134,742
Lancaster Colony Corp.
  1,317   272,803
Medifast, Inc.
  418   52,689
National Beverage Corp.(c)
  3,112   160,361
Nu Skin Enterprises, Inc., Class A
  1,749   72,951
PriceSmart, Inc.
  3,935   279,542
Primo Water Corp.
  9,846   154,090
Seneca Foods Corp., Class A(b)
  1,812   116,475
Simply Good Foods Co. (The)(b)(c)
  15,131   603,727
SpartanNash Co.
  6,519   214,149
Sprouts Farmers Market, Inc.(b)(c)
  12,404   425,829
Tootsie Roll Industries, Inc.
  4,129   185,599
TreeHouse Foods, Inc.(b)(c)
  2,325   114,925
Universal Corp.
  3,349   190,592
USANA Health Sciences, Inc.(b)
  705   38,803
Vector Group Ltd.
  24,669   273,826
Village Super Market, Inc., Class A(c)
  2,351   52,992
WD-40 Co.(c)
  1,300   217,750
Weis Markets, Inc.
  7,278   634,714
        8,783,085
Energy-3.36%
Arch Resources, Inc.
  4,603   712,314
Archrock, Inc.
  5,862   51,058
Brigham Minerals, Inc., Class A
  6,614   234,334
Cactus, Inc., Class A
  4,484   243,885
Civitas Resources, Inc.
  1,267   85,345
CNX Resources Corp.(b)(c)
  14,434   250,719
Comstock Resources, Inc.
  2,824   51,820
CVR Energy, Inc.
  8,570   315,804
Delek US Holdings, Inc.
  8,246   255,461
Dorian LPG Ltd.
  5,446   106,034
Dril-Quip, Inc.(b)
  2,165   50,964
Equitrans Midstream Corp.
  13,419   112,585
FLEX LNG Ltd. (Norway)
  4,256   160,111
Golar LNG Ltd. (Cameroon)(b)
  6,829   171,203
Green Plains, Inc.(b)(c)
  1,238   42,785
Gulfport Energy Corp.(b)(c)
  3,355   272,057
Helmerich & Payne, Inc.
  5,121   261,581
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Energy-(continued)
Magnolia Oil & Gas Corp., Class A
  51,421   $1,341,060
Murphy Oil Corp.
  12,675   598,260
NACCO Industries, Inc., Class A
  1,181   53,452
Noble Corp. PLC(b)(c)
  3,348   124,311
Par Pacific Holdings, Inc.(b)
  3,380   79,193
Patterson-UTI Energy, Inc.
  3,044   54,640
PBF Energy, Inc., Class A
  5,976   237,666
REX American Resources Corp.(b)
  2,546   75,132
RPC, Inc.
  8,129   75,275
Scorpio Tankers, Inc. (Monaco)
  1,908   97,346
SFL Corp. Ltd. (Norway)
  20,558   201,263
Sitio Royalties Corp.(c)
  3,665   115,594
Solaris Oilfield Infrastructure, Inc., Class A
  5,265   57,757
Talos Energy, Inc.(b)
  2,210   43,426
Tidewater, Inc.(b)
  2,252   68,461
Valaris Ltd.(b)
  6,793   448,406
World Fuel Services Corp.
  5,717   162,649
        7,211,951
Financials-26.87%
1st Source Corp.(c)
  2,392   136,583
ACNB Corp.
  1,660   65,238
Amalgamated Financial Corp.(c)
  2,434   64,915
Amerant Bancorp, Inc.
  2,486   73,238
American Equity Investment Life Holding Co.
  6,913   280,046
American National Bankshares, Inc.
  1,788   68,963
Ameris Bancorp
  5,730   303,002
AMERISAFE, Inc.
  3,264   193,784
Apollo Commercial Real Estate Finance, Inc.(c)
  12,239   151,274
Arbor Realty Trust, Inc.(c)
  18,656   277,601
Ares Commercial Real Estate Corp.(c)
  5,970   74,386
Argo Group International Holdings Ltd.
  1,885   51,234
Arrow Financial Corp.
  1,882   66,190
Artisan Partners Asset Management, Inc., Class A
  10,557   366,222
Associated Banc-Corp
  20,262   498,445
Atlantic Union Bankshares Corp.
  9,831   350,672
Axos Financial, Inc.(b)
  3,070   123,138
B. Riley Financial, Inc.(c)
  2,317   101,763
Banc of California, Inc.
  6,425   109,032
BancFirst Corp.
  4,866   496,040
Banco Latinoamericano de Comercio Exterior S.A., Class E (Panama)
  3,379   55,720
Bank First Corp.
  1,135   107,859
Bank of Marin Bancorp(c)
  2,534   90,945
Bank of NT Butterfield & Son Ltd. (The) (Bermuda)
  3,595   125,106
BankUnited, Inc.
  9,210   338,191
Bankwell Financial Group, Inc.
  1,290   38,171
Banner Corp.
  5,344   377,393
Bar Harbor Bankshares
  1,923   58,209
BayCom Corp.(c)
  2,453   46,509
BCB Bancorp, Inc.
  4,700   88,595
Berkshire Hills Bancorp, Inc.
  4,284   133,575
Blackstone Mortgage Trust, Inc., Class A(c)
  29,833   753,880
Blucora, Inc.(b)
  3,430   85,921
Brightsphere Investment Group, Inc.
  3,576   72,807
Broadmark Realty Capital, Inc.
  11,782   47,953
Brookline Bancorp, Inc.
  12,426   176,698
Byline Bancorp, Inc.
  3,932   89,610
Cadence Bank(c)
  20,947   604,111
Cambridge Bancorp
  978   86,954
Camden National Corp.(c)
  1,877   82,175
  Shares   Value
Financials-(continued)
Capital City Bank Group, Inc.
  1,871   $65,859
Capitol Federal Financial, Inc.
  14,077   117,824
Capstar Financial Holdings, Inc.
  2,809   50,281
Cathay General Bancorp
  11,465   532,779
Central Pacific Financial Corp.
  2,763   58,548
Chimera Investment Corp.(c)
  14,152   96,941
Citizens & Northern Corp.
  2,515   61,718
City Holding Co.(c)
  3,353   341,738
Claros Mortgage Trust, Inc.
  2,902   50,147
CNB Financial Corp.
  2,832   72,358
CNO Financial Group, Inc.
  10,445   245,249
Cohen & Steers, Inc.(c)
  8,458   560,342
Columbia Banking System, Inc.(c)
  4,666   158,924
Columbia Financial, Inc.(b)(c)
  9,395   207,442
Community Bank System, Inc.
  5,746   374,294
Community Trust Bancorp, Inc.(c)
  2,992   143,347
Compass Diversified Holdings
  6,229   121,839
ConnectOne Bancorp, Inc.
  4,562   119,707
Customers Bancorp, Inc.(b)(c)
  2,893   93,357
CVB Financial Corp.
  33,642   964,853
Diamond Hill Investment Group, Inc.
  1,613   287,049
Dime Community Bancshares, Inc.
  3,495   124,667
Donegal Group, Inc., Class A(c)
  3,380   50,261
Donnelley Financial Solutions, Inc.(b)(c)
  3,427   130,843
Dynex Capital, Inc.
  4,870   63,797
Eagle Bancorp, Inc.(c)
  3,386   159,684
Eastern Bankshares, Inc.
  18,788   368,433
Employers Holdings, Inc.
  6,133   285,000
Encore Capital Group, Inc.(b)(c)
  3,942   198,677
Enstar Group Ltd.(b)
  1,400   305,186
Enterprise Financial Services Corp.
  4,506   235,844
Equity Bancshares, Inc., Class A(c)
  1,741   63,651
Esquire Financial Holdings, Inc.
  1,947   87,303
Essent Group Ltd.
  18,163   728,155
EZCORP, Inc., Class A(b)
  6,967   69,809
Farmers & Merchants Bancorp, Inc.
  2,872   82,369
Farmers National Banc Corp.
  3,500   53,235
FB Financial Corp.
  5,815   248,940
Federal Agricultural Mortgage Corp., Class C
  1,414   177,952
Federated Hermes, Inc., Class B
  28,012   1,063,335
First Bancorp
  37,697   579,780
First Bancorp/Southern Pines NC
  3,072   149,391
First Bancshares, Inc. (The)
  1,625   55,559
First Busey Corp.(c)
  6,017   156,863
First Business Financial Services, Inc.
  1,804   69,129
First Commonwealth Financial Corp.
  13,562   199,633
First Community Bankshares, Inc.(c)
  2,404   88,828
First Financial Bancorp
  8,716   230,364
First Financial Bankshares, Inc.
  14,034   518,556
First Financial Corp.
  2,247   108,013
First Foundation, Inc.(c)
  6,795   95,198
First Internet Bancorp
  1,278   33,177
First Interstate BancSystem, Inc., Class A(c)
  8,771   382,591
First Merchants Corp.
  7,703   340,550
First Mid Bancshares, Inc.
  1,931   66,909
First of Long Island Corp. (The)(c)
  2,439   47,439
First Western Financial, Inc.(b)
  1,588   48,275
FirstCash Holdings, Inc.
  6,150   577,239
Five Star Bancorp
  2,203   59,481
Flushing Financial Corp.
  4,810   100,337
Fulton Financial Corp.
  24,107   448,149
Genworth Financial, Inc., Class A(b)
  32,457   163,259
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Financials-(continued)
German American Bancorp, Inc.(c)
  4,216   $168,050
Glacier Bancorp, Inc.
  11,693   677,025
Great Southern Bancorp, Inc.(c)
  2,091   131,001
Greene County Bancorp, Inc.
  1,114   84,965
Guaranty Bancshares, Inc.
  1,547   55,073
Hamilton Lane, Inc., Class A
  4,159   307,267
Hancock Whitney Corp.
  11,303   619,857
Hanmi Financial Corp.
  5,181   140,146
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(c)
  4,477   145,234
HarborOne Bancorp, Inc.(c)
  7,422   108,584
Heartland Financial USA, Inc.
  4,017   195,989
Heritage Commerce Corp.
  8,340   118,511
Heritage Financial Corp.
  5,671   186,576
Hilltop Holdings, Inc.
  4,605   137,229
Hingham Institution for Savings (The)(c)
  309   90,685
Home BancShares, Inc.
  18,671   475,177
HomeStreet, Inc.
  2,710   73,983
Hope Bancorp, Inc.
  17,693   240,979
Horace Mann Educators Corp.
  8,266   318,985
Horizon Bancorp, Inc.
  5,858   95,251
Houlihan Lokey, Inc.
  24,322   2,392,069
Independent Bank Corp.
  8,057   729,320
Independent Bank Group, Inc.(c)
  4,057   267,519
International Bancshares Corp.
  6,341   334,044
Investors Title Co.
  422   64,794
Jackson Financial, Inc., Class A
  1,933   72,198
John Marshall Bancorp, Inc.
  2,313   66,984
Kearny Financial Corp.
  10,951   105,896
Kinsale Capital Group, Inc.
  9,339   2,878,373
KKR Real Estate Finance Trust, Inc.(c)
  7,463   123,513
Ladder Capital Corp.
  11,163   123,909
Lakeland Bancorp, Inc.
  6,395   119,459
Lakeland Financial Corp.(c)
  5,904   466,180
Mercantile Bank Corp.
  2,758   96,006
Mercury General Corp.
  3,099   112,432
Metrocity Bankshares, Inc.
  3,670   82,575
Metropolitan Bank Holding Corp.(b)(c)
  1,189   75,549
Mid Penn Bancorp, Inc.
  1,837   60,621
Midland States Bancorp, Inc.
  2,905   78,174
MidWestOne Financial Group, Inc.
  1,945   67,861
Moelis & Co., Class A(c)
  15,743   680,412
Mr. Cooper Group, Inc.(b)
  9,805   442,794
National Bank Holdings Corp., Class A
  5,648   262,688
National Western Life Group, Inc., Class A
  223   47,008
Navient Corp.
  5,076   84,109
NBT Bancorp, Inc.
  7,381   340,707
Nelnet, Inc., Class A
  3,480   342,919
Nicolet Bankshares, Inc.(b)(c)
  2,387   197,453
NMI Holdings, Inc., Class A(b)
  5,629   121,192
Northeast Bank
  1,339   56,693
Northfield Bancorp, Inc.
  4,000   63,800
Northwest Bancshares, Inc.
  19,177   293,216
OceanFirst Financial Corp.
  7,391   172,654
OFG Bancorp
  8,672   251,228
Old National Bancorp
  32,163   614,635
Old Second Bancorp, Inc.
  7,071   123,460
Origin Bancorp, Inc.
  2,376   97,226
Pacific Premier Bancorp, Inc.
  5,086   187,928
Palomar Holdings, Inc.(b)
  1,290   80,935
Park National Corp.
  2,467   373,331
Parke Bancorp, Inc.(c)
  2,211   48,089
  Shares   Value
Financials-(continued)
Pathward Financial, Inc.
  1,221   $53,150
PCB Bancorp
  3,069   57,145
Peapack-Gladstone Financial Corp.
  1,833   75,556
PennyMac Financial Services, Inc.
  1,781   106,254
Peoples Bancorp, Inc.
  3,668   110,040
Peoples Financial Services Corp.
  1,650   93,951
Piper Sandler Cos.
  4,868   699,337
PJT Partners, Inc., Class A
  7,234   557,090
PRA Group, Inc.(b)(c)
  5,635   193,731
Preferred Bank
  2,334   176,427
Premier Financial Corp.
  3,650   106,507
ProAssurance Corp.
  6,282   125,577
Professional Holding Corp., Class A(b)
  2,959   88,681
Provident Financial Services, Inc.
  9,809   220,997
QCR Holdings, Inc.
  3,503   184,293
Radian Group, Inc.
  32,796   641,818
Ready Capital Corp.(c)
  8,584   115,026
Redwood Trust, Inc.
  7,527   59,463
Renasant Corp.
  3,430   139,841
Republic Bancorp, Inc., Class A
  1,267   55,837
RLI Corp.
  16,522   2,149,017
S&T Bancorp, Inc.
  5,042   188,672
Safety Insurance Group, Inc.
  5,628   516,313
Sandy Spring Bancorp, Inc.
  5,883   204,846
Seacoast Banking Corp. of Florida(c)
  7,708   265,001
Selective Insurance Group, Inc.
  14,621   1,405,370
ServisFirst Bancshares, Inc.(c)
  12,206   925,459
Shore Bancshares, Inc.
  3,513   69,944
Silvercrest Asset Management Group, Inc., Class A
  4,095   77,395
Simmons First National Corp., Class A
  12,683   294,372
SmartFinancial, Inc.
  2,406   72,132
South State Corp.
  8,689   763,329
Southern Missouri Bancorp, Inc.
  1,298   67,314
Southside Bancshares, Inc.
  5,681   206,448
Stellar Bancorp, Inc.(c)
  6,476   218,954
StepStone Group, Inc., Class A
  4,045   121,269
Stewart Information Services Corp.
  8,543   378,113
Stock Yards Bancorp, Inc.(c)
  5,211   385,718
StoneX Group, Inc.(b)
  2,737   277,723
Summit Financial Group, Inc.
  2,264   64,207
Texas Capital Bancshares, Inc.(b)
  2,310   138,577
Tompkins Financial Corp.
  1,802   150,539
Towne Bank
  9,843   317,929
TriCo Bancshares
  5,430   295,935
Triumph Financial, Inc.(b)
  1,645   98,305
TrustCo Bank Corp.
  2,314   89,876
Trustmark Corp.
  7,530   275,447
Two Harbors Investment Corp.(c)
  3,136   51,430
UMB Financial Corp.
  6,547   559,899
United Bankshares, Inc.
  19,436   833,610
United Community Banks, Inc.
  13,399   522,159
United Fire Group, Inc.
  4,201   128,341
Univest Financial Corp.
  4,079   115,069
Valley National Bancorp
  51,346   650,040
Veritex Holdings, Inc.
  4,835   157,911
Victory Capital Holdings, Inc., Class A
  2,859   82,911
Virtus Investment Partners, Inc.
  476   92,315
Walker & Dunlop, Inc.
  5,389   481,292
Washington Federal, Inc.
  11,032   389,099
Washington Trust Bancorp, Inc.
  2,413   120,071
Waterstone Financial, Inc.
  3,045   51,004
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Financials-(continued)
WesBanco, Inc.
  7,600   $307,420
West Bancorporation, Inc.
  2,257   54,258
Westamerica Bancorporation
  4,845   299,179
WisdomTree, Inc.
  14,520   80,876
WSFS Financial Corp.
  5,261   255,211
        57,734,145
Health Care-7.65%
Addus HomeCare Corp.(b)
  2,336   257,614
Alkermes PLC(b)(c)
  24,981   619,029
Allscripts Healthcare Solutions, Inc.(b)(c)
  7,612   144,171
AMN Healthcare Services, Inc.(b)(c)
  7,391   914,267
Amphastar Pharmaceuticals, Inc.(b)(c)
  29,752   877,387
AngioDynamics, Inc.(b)
  3,352   43,408
Atrion Corp.
  618   373,766
Avanos Medical, Inc.(b)
  2,797   75,239
Biohaven Ltd.(b)
  243   3,844
Catalyst Pharmaceuticals, Inc.(b)(c)
  8,828   148,046
Computer Programs & Systems, Inc.(b)
  1,603   47,449
CONMED Corp.(c)
  1,804   149,461
Corcept Therapeutics, Inc.(b)
  12,652   319,843
CorVel Corp.(b)
  5,877   899,005
Eagle Pharmaceuticals, Inc.(b)
  2,342   85,061
Embecta Corp.(c)
  5,720   188,302
Ensign Group, Inc. (The)
  9,709   922,355
Evolent Health, Inc., Class A(b)(c)
  2,460   70,823
Haemonetics Corp.(b)
  5,170   441,053
Halozyme Therapeutics, Inc.(b)
  47,013   2,691,964
Harmony Biosciences Holdings, Inc.(b)(c)
  4,149   247,986
HealthEquity, Inc.(b)
  1,205   76,493
HealthStream, Inc.(b)
  3,517   89,332
Innoviva, Inc.(b)(c)
  29,296   384,657
Inspire Medical Systems, Inc.(b)(c)
  522   126,100
Integer Holdings Corp.(b)(c)
  2,197   163,281
iRadimed Corp.(c)
  1,912   56,519
Ironwood Pharmaceuticals, Inc.(b)(c)
  25,060   303,477
Lantheus Holdings, Inc.(b)
  4,919   305,372
LeMaitre Vascular, Inc.
  1,361   63,763
LHC Group, Inc.(b)
  1,077   175,993
LivaNova PLC(b)(c)
  2,416   133,774
Medpace Holdings, Inc.(b)
  2,745   576,148
Meridian Bioscience, Inc.(b)(c)
  12,753   408,096
Merit Medical Systems, Inc.(b)
  9,880   711,360
National HealthCare Corp.
  4,600   283,544
National Research Corp.
  1,896   73,451
Neogen Corp.(b)
  5,065   83,876
NextGen Healthcare, Inc.(b)(c)
  10,025   208,520
NuVasive, Inc.(b)
  1,787   69,407
Omnicell, Inc.(b)
  2,922   150,804
Option Care Health, Inc.(b)
  11,563   348,162
Pacira BioSciences, Inc.(b)(c)
  5,751   277,486
Patterson Cos., Inc.
  2,133   60,663
Prestige Consumer Healthcare, Inc.(b)
  7,653   470,353
R1 RCM, Inc.(b)
  8,686   78,608
Select Medical Holdings Corp.
  1,901   46,727
Shockwave Medical, Inc.(b)
  1,594   404,238
SIGA Technologies, Inc.(c)
  18,170   166,801
Simulations Plus, Inc.(c)
  1,206   48,952
Supernus Pharmaceuticals, Inc.(b)(c)
  2,720   99,878
UFP Technologies, Inc.(b)(c)
  604   72,510
US Physical Therapy, Inc.
  1,517   131,084
Utah Medical Products, Inc.
  1,402   124,862
  Shares   Value
Health Care-(continued)
Varex Imaging Corp.(b)(c)
  2,760   $58,622
Xencor, Inc.(b)(c)
  2,785   82,770
        16,435,756
Industrials-18.96%
AAON, Inc.
  2,397   189,986
AAR Corp.(b)
  1,841   85,717
ABM Industries, Inc.
  5,351   252,460
Aerojet Rocketdyne Holdings, Inc.(b)
  6,198   322,296
AerSale Corp.(b)
  5,428   86,034
Air Transport Services Group, Inc.(b)
  12,040   337,602
Alamo Group, Inc.
  616   92,708
Albany International Corp., Class A
  3,991   404,568
Allegiant Travel Co.(b)(c)
  543   44,857
API Group Corp.(b)(c)
  5,447   104,691
Apogee Enterprises, Inc.
  5,249   253,264
Applied Industrial Technologies, Inc.
  6,481   858,668
ArcBest Corp.
  5,235   433,301
Arcosa, Inc.
  2,591   158,310
Argan, Inc.
  2,465   93,547
ASGN, Inc.(b)
  5,709   517,235
Astec Industries, Inc.
  1,264   55,919
Atkore, Inc.(b)(c)
  5,756   703,095
Atlas Air Worldwide Holdings, Inc.(b)
  2,431   244,972
AZZ, Inc.
  1,939   80,721
Barnes Group, Inc.
  1,715   73,042
Beacon Roofing Supply, Inc.(b)
  7,639   446,041
Boise Cascade Co.
  18,069   1,337,829
Brady Corp., Class A(c)
  5,321   254,876
Brink’s Co. (The)
  2,105   125,774
Casella Waste Systems, Inc., Class A(b)
  8,590   739,513
CBIZ, Inc.(b)
  17,004   844,249
Chart Industries, Inc.(b)(c)
  1,408   201,330
Comfort Systems USA, Inc.
  3,484   441,632
CoreCivic, Inc.(b)
  8,768   116,439
Costamare, Inc. (Monaco)
  7,540   72,686
CRA International, Inc.
  1,166   143,721
CSW Industrials, Inc.
  2,266   274,073
Douglas Dynamics, Inc.(c)
  1,544   60,092
Dycom Industries, Inc.(b)(c)
  1,128   102,806
Eagle Bulk Shipping, Inc.(c)
  2,475   127,339
EMCOR Group, Inc.
  8,278   1,282,262
Encore Wire Corp.(c)
  13,260   1,937,419
Energy Recovery, Inc.(b)
  4,808   111,449
Enerpac Tool Group Corp.
  4,165   104,292
EnerSys
  1,019   77,016
Ennis, Inc.(c)
  5,283   122,724
EnPro Industries, Inc.
  1,544   183,427
ESCO Technologies, Inc.
  1,570   147,596
Evoqua Water Technologies Corp.(b)
  9,941   432,334
Exponent, Inc.
  14,599   1,509,683
Federal Signal Corp.
  5,654   274,728
Forrester Research, Inc.(b)
  3,359   118,170
Forward Air Corp.
  8,688   976,270
Franklin Covey Co.(b)
  2,310   120,028
Franklin Electric Co., Inc.
  8,112   675,730
GATX Corp.(c)
  5,802   654,175
Genco Shipping & Trading Ltd.(c)
  6,812   101,022
GEO Group, Inc. (The)(b)(c)
  9,112   107,704
Global Industrial Co.
  1,828   44,987
GMS, Inc.(b)
  2,172   106,645
Golden Ocean Group Ltd. (Norway)
  25,225   212,899
Gorman-Rupp Co. (The)
  3,640   100,755
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Industrials-(continued)
Great Lakes Dredge & Dock Corp.(b)(c)
  5,830   $42,676
Griffon Corp.
  3,322   117,300
H&E Equipment Services, Inc.
  1,270   53,251
Heartland Express, Inc.
  7,540   126,220
Heidrick & Struggles International, Inc.
  1,685   50,044
Helios Technologies, Inc.
  3,605   190,128
Herc Holdings, Inc.(c)
  400   51,268
Heritage-Crystal Clean, Inc.(b)
  2,147   67,845
Hillenbrand, Inc.
  10,614   530,700
HNI Corp.
  4,667   135,343
Hub Group, Inc., Class A(b)
  9,183   772,749
Huron Consulting Group, Inc.(b)
  2,872   223,614
ICF International, Inc.
  1,822   197,450
Insperity, Inc.
  5,212   617,883
Insteel Industries, Inc.
  6,226   183,605
Interface, Inc.
  3,037   32,891
Janus International Group, Inc.(b)(c)
  5,822   63,751
John Bean Technologies Corp.
  1,476   135,585
Kadant, Inc.
  2,359   455,381
KAR Auction Services, Inc.(b)(c)
  4,492   61,720
Kelly Services, Inc., Class A
  2,748   46,688
Kennametal, Inc.
  3,694   97,595
Kforce, Inc.
  7,082   418,334
Korn Ferry
  5,618   320,394
Lindsay Corp.
  998   176,137
Marten Transport Ltd.
  18,597   396,302
Masonite International Corp.(b)
  897   67,517
Matson, Inc.
  18,193   1,159,986
Matthews International Corp., Class A
  2,522   79,846
McGrath RentCorp
  3,422   335,767
MillerKnoll, Inc.
  2,262   46,122
Moog, Inc., Class A
  1,793   156,045
Mueller Industries, Inc.
  30,623   2,105,944
Mueller Water Products, Inc., Class A
  15,361   179,109
MYR Group, Inc.(b)
  2,603   248,665
NOW, Inc.(b)
  7,479   93,338
NV5 Global, Inc.(b)(c)
  2,200   317,922
Parsons Corp.(b)
  2,317   114,691
Quanex Building Products Corp.
  3,113   73,996
RBC Bearings, Inc.(b)(c)
  303   71,802
Resources Connection, Inc.
  8,126   156,832
Rush Enterprises, Inc., Class A
  8,710   448,826
Rush Enterprises, Inc., Class B(c)
  1,172   62,104
Saia, Inc.(b)(c)
  4,051   986,783
Simpson Manufacturing Co., Inc.
  9,769   909,005
SP Plus Corp.(b)
  1,746   60,918
SPX Technologies, Inc.(b)(c)
  2,794   186,919
Standex International Corp.
  1,712   179,846
Tennant Co.
  1,271   80,747
Terex Corp.
  4,611   211,691
Textainer Group Holdings Ltd. (China)
  1,925   58,674
Transcat, Inc.(b)(c)
  892   71,387
TriNet Group, Inc.(b)(c)
  5,903   427,790
Trinity Industries, Inc.(c)
  7,496   229,602
Triton International Ltd. (Bermuda)
  10,066   679,153
TrueBlue, Inc.(b)
  2,519   54,360
UFP Industries, Inc.
  23,780   1,946,631
UniFirst Corp.
  1,179   228,443
Wabash National Corp.
  6,791   170,250
Watts Water Technologies, Inc., Class A
  6,780   1,074,291
  Shares   Value
Industrials-(continued)
Werner Enterprises, Inc.(c)
  11,150   $490,377
Zurn Elkay Water Solutions Corp.
  54,389   1,316,758
        40,729,699
Information Technology-12.53%
A10 Networks, Inc.
  18,559   347,239
ACI Worldwide, Inc.(b)
  4,176   87,278
Adeia, Inc.
  3,027   33,448
ADTRAN Holdings, Inc.
  5,384   109,134
Advanced Energy Industries, Inc.
  1,118   103,571
Alarm.com Holdings, Inc.(b)
  1,757   87,674
Alpha & Omega Semiconductor Ltd.(b)(c)
  2,449   85,911
Altair Engineering, Inc., Class A(b)(c)
  1,746   85,676
Ambarella, Inc.(b)
  1,237   91,785
Amkor Technology, Inc.
  5,310   148,786
AppFolio, Inc., Class A(b)(c)
  687   78,380
Axcelis Technologies, Inc.(b)
  9,656   771,128
Badger Meter, Inc.
  4,653   538,910
Belden, Inc.
  6,325   508,783
Blackbaud, Inc.(b)(c)
  1,178   69,820
Blackline, Inc.(b)
  659   44,608
Box, Inc., Class A(b)
  19,991   548,753
Calix, Inc.(b)
  1,894   135,042
CEVA, Inc.(b)
  1,562   42,440
Clearfield, Inc.(b)
  4,123   542,669
Cohu, Inc.(b)
  1,771   63,437
CommVault Systems, Inc.(b)
  4,062   268,092
CSG Systems International, Inc.
  9,193   568,495
CTS Corp.
  7,426   315,605
Cyxtera Technologies, Inc.(b)
  4,082   8,001
Digi International, Inc.(b)(c)
  6,806   289,051
Diodes, Inc.(b)
  8,803   811,901
Envestnet, Inc.(b)
  5,632   332,401
ePlus, Inc.(b)
  2,495   123,902
EVERTEC, Inc.
  8,197   276,813
Evo Payments, Inc., Class A(b)
  2,176   73,353
ExlService Holdings, Inc.(b)
  12,087   2,262,686
Fabrinet (Thailand)(b)(c)
  5,740   765,773
FormFactor, Inc.(b)(c)
  17,524   404,279
Grid Dynamics Holdings, Inc.(b)(c)
  3,116   39,698
Hackett Group, Inc. (The)
  10,688   246,893
Harmonic, Inc.(b)(c)
  14,590   223,811
Information Services Group, Inc.
  8,347   44,740
Insight Enterprises, Inc.(b)
  4,219   438,396
InterDigital, Inc.(c)
  2,496   125,224
International Money Express, Inc.(b)
  12,093   262,660
Kimball Electronics, Inc.(b)(c)
  2,953   68,185
Knowles Corp.(b)(c)
  18,019   281,096
Kulicke & Soffa Industries, Inc. (Singapore)(c)
  11,358   544,616
MACOM Technology Solutions Holdings, Inc.(b)
  1,508   103,584
MaxLinear, Inc.(b)
  6,292   230,287
Methode Electronics, Inc.
  4,992   228,035
Napco Security Technologies, Inc.(b)
  3,960   104,465
NetScout Systems, Inc.(b)
  19,086   711,526
Novanta, Inc.(b)(c)
  2,200   347,050
Onto Innovation, Inc.(b)
  8,589   686,691
OSI Systems, Inc.(b)
  1,169   103,433
PC Connection, Inc.(b)
  2,433   135,153
PDF Solutions, Inc.(b)
  6,291   197,349
Perficient, Inc.(b)
  5,578   396,317
Photronics, Inc.(b)
  10,670   200,596
Plexus Corp.(b)
  2,410   265,630
Power Integrations, Inc.
  16,833   1,354,720
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Information Technology-(continued)
Progress Software Corp.
  5,980   $318,854
Qualys, Inc.(b)
  10,747   1,325,320
Rambus, Inc.(b)(c)
  30,202   1,159,153
Rapid7, Inc.(b)
  1,167   34,310
Rogers Corp.(b)
  4,068   443,575
Sanmina Corp.(b)
  8,313   549,406
ScanSource, Inc.(b)
  6,794   202,869
Semtech Corp.(b)(c)
  10,662   327,750
Silicon Laboratories, Inc.(b)(c)
  5,111   743,344
SPS Commerce, Inc.(b)
  7,207   1,025,268
Super Micro Computer, Inc.(b)
  6,144   554,373
Synaptics, Inc.(b)(c)
  1,388   147,086
Tenable Holdings, Inc.(b)(c)
  3,312   126,452
TTM Technologies, Inc.(b)
  9,245   148,567
Veeco Instruments, Inc.(b)(c)
  2,159   42,921
Verint Systems, Inc.(b)(c)
  8,894   349,801
Verra Mobility Corp.(b)
  14,487   229,619
Viavi Solutions, Inc.(b)
  17,378   196,893
Vishay Intertechnology, Inc.
  23,700   546,048
Xerox Holdings Corp.
  4,019   65,550
Xperi, Inc.(b)
  1,210   12,959
        26,915,097
Materials-4.57%
AdvanSix, Inc.
  8,653   356,157
American Vanguard Corp.
  11,039   253,897
ATI, Inc.(b)
  5,325   162,466
Avient Corp.
  7,681   265,839
Balchem Corp.
  7,557   1,064,026
Cabot Corp.
  11,821   870,262
Chase Corp.
  665   63,175
Commercial Metals Co.
  24,439   1,202,888
Compass Minerals International, Inc.
  1,116   49,495
Greif, Inc., Class A
  3,596   252,835
Greif, Inc., Class B
  874   65,672
H.B. Fuller Co.
  7,442   597,667
Hawkins, Inc.
  3,572   148,595
Haynes International, Inc.
  2,245   112,160
Ingevity Corp.(b)
  2,412   188,787
Innospec, Inc.
  8,717   966,628
Kaiser Aluminum Corp.(c)
  1,351   122,130
Kronos Worldwide, Inc.
  6,471   59,598
Livent Corp.(b)(c)
  6,031   168,808
Materion Corp.
  1,447   116,570
Minerals Technologies, Inc.
  2,595   156,453
Myers Industries, Inc.
  8,367   195,286
O-I Glass, Inc.(b)
  4,170   68,430
Orion Engineered Carbons S.A. (Germany)
  3,614   67,871
Quaker Chemical Corp.(c)
  291   57,266
Schnitzer Steel Industries, Inc., Class A(c)
  2,721   93,412
Sensient Technologies Corp.
  7,251   541,722
Stepan Co.
  1,978   220,685
Summit Materials, Inc., Class A(b)(c)
  2,470   74,816
SunCoke Energy, Inc.
  8,043   68,044
Sylvamo Corp.
  2,343   126,733
TimkenSteel Corp.(b)(c)
  5,905   110,424
Tredegar Corp.
  4,024   41,608
TriMas Corp.(c)
  4,570   124,990
Trinseo PLC
  1,060   26,129
Tronox Holdings PLC, Class A
  3,988   56,350
  Shares   Value
Materials-(continued)
Warrior Met Coal, Inc.
  17,367   $639,453
Worthington Industries, Inc.(c)
  1,235   70,074
        9,827,401
Real Estate-8.70%
Acadia Realty Trust
  7,614   117,103
Agree Realty Corp.
  16,847   1,178,448
Alexander & Baldwin, Inc.
  11,579   228,685
Alexander’s, Inc.
  588   143,613
American Assets Trust, Inc.
  5,239   153,450
Apartment Investment & Management Co., Class A
  11,174   93,638
Apple Hospitality REIT, Inc.
  10,618   181,143
Armada Hoffler Properties, Inc.(c)
  9,359   113,712
Bluerock Homes Trust, Inc.(b)(c)
  476   11,672
Brandywine Realty Trust
  12,444   85,988
Broadstone Net Lease, Inc.(c)
  23,855   404,819
BRT Apartments Corp.
  3,454   71,256
CareTrust REIT, Inc.
  3,599   71,260
Centerspace
  3,293   212,399
City Office REIT, Inc.
  21,626   213,881
Community Healthcare Trust, Inc.
  1,770   62,410
Corporate Office Properties Trust
  19,101   530,435
CTO Realty Growth, Inc.(c)
  6,507   136,452
Cushman & Wakefield PLC(b)(c)
  15,256   174,224
Easterly Government Properties, Inc.
  15,653   247,944
Elme Communities
  12,712   251,189
Equity Commonwealth(c)
  16,316   442,000
Essential Properties Realty Trust, Inc.
  3,093   71,789
Farmland Partners, Inc.
  9,263   123,013
Four Corners Property Trust, Inc.
  14,578   395,647
Franklin Street Properties Corp.
  16,204   47,316
FRP Holdings, Inc.(b)(c)
  1,539   93,725
Getty Realty Corp.(c)
  6,216   205,252
Gladstone Commercial Corp.(c)
  3,111   59,078
Gladstone Land Corp.(c)
  4,568   93,827
Global Medical REIT, Inc.(c)
  6,793   68,609
Global Net Lease, Inc.(c)
  6,393   86,497
Independence Realty Trust, Inc.
  67,178   1,217,265
Indus Realty Trust, Inc.(c)
  857   54,848
Innovative Industrial Properties, Inc.(c)
  989   119,877
iStar, Inc.
  5,952   47,795
Kennedy-Wilson Holdings, Inc.
  36,740   625,315
Kite Realty Group Trust(c)
  13,351   304,403
LTC Properties, Inc.
  9,789   384,610
LXP Industrial Trust(c)
  86,350   929,126
Marcus & Millichap, Inc.(c)
  11,252   419,024
National Health Investors, Inc.
  5,347   300,822
Necessity Retail REIT, Inc. (The)(c)
  6,578   43,941
NETSTREIT Corp.
  5,642   110,188
Newmark Group, Inc., Class A(c)
  5,793   49,125
NexPoint Residential Trust, Inc.
  6,402   307,872
Office Properties Income Trust(c)
  2,224   34,005
One Liberty Properties, Inc.
  3,436   81,914
Outfront Media, Inc.
  7,091   129,694
Paramount Group, Inc.(c)
  12,736   83,039
Pebblebrook Hotel Trust(c)
  2,445   40,709
Phillips Edison & Co., Inc.(c)
  3,089   99,558
Physicians Realty Trust(c)
  40,741   608,263
Piedmont Office Realty Trust, Inc., Class A
  8,037   83,665
Plymouth Industrial REIT, Inc.
  4,486   92,860
PotlatchDeltic Corp.
  33,523   1,602,064
Retail Opportunity Investments Corp.
  15,130   230,733
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Shares   Value
Real Estate-(continued)
RMR Group, Inc. (The), Class A(c)
  2,431   $70,280
RPT Realty
  8,315   93,128
Sabra Health Care REIT, Inc.
  4,599   59,373
Safehold, Inc.
  456   13,450
Saul Centers, Inc.
  2,258   97,320
SITE Centers Corp.
  19,356   263,048
St. Joe Co. (The)(c)
  11,060   425,036
STAG Industrial, Inc.
  30,346   998,687
Stratus Properties, Inc.
  2,519   61,212
Sunstone Hotel Investors, Inc.(c)
  18,860   207,271
Tanger Factory Outlet Centers, Inc.(c)
  3,593   69,884
Tejon Ranch Co.(b)
  4,834   94,746
Terreno Realty Corp.
  15,374   901,531
UMH Properties, Inc.
  9,310   163,949
Uniti Group, Inc.(c)
  23,768   181,112
Universal Health Realty Income Trust(c)
  2,124   111,489
Urban Edge Properties(c)
  15,108   237,649
Urstadt Biddle Properties, Inc., Class A(c)
  4,028   77,056
Veris Residential, Inc.(b)
  5,067   81,376
Whitestone REIT
  12,805   124,593
        18,703,379
Utilities-6.19%
ALLETE, Inc.
  7,751   513,116
American States Water Co.
  5,635   552,174
Artesian Resources Corp., Class A
  2,264   123,524
Avista Corp.
  10,653   439,756
Black Hills Corp.
  10,321   739,293
Brookfield Infrastructure Corp., Class A (Canada)
  13,921   652,616
California Water Service Group
  6,435   417,825
Chesapeake Utilities Corp.
  3,842   460,003
Clearway Energy, Inc., Class A
  6,409   210,984
Clearway Energy, Inc., Class C
  15,209   539,007
MGE Energy, Inc.
  7,566   544,828
Middlesex Water Co.
  2,798   261,473
New Jersey Resources Corp.
  18,853   937,937
Northwest Natural Holding Co.
  5,118   256,463
NorthWestern Corp.
  8,103   473,296
ONE Gas, Inc.
  6,103   530,656
  Shares   Value
Utilities-(continued)
Ormat Technologies, Inc.(c)
  6,817   $616,461
Otter Tail Corp.
  14,404   858,911
PNM Resources, Inc.
  11,319   554,631
Portland General Electric Co.(c)
  15,568   766,413
SJW Group
  3,294   246,029
South Jersey Industries, Inc.
  24,115   836,790
Southwest Gas Holdings, Inc.
  13,274   908,738
Spire, Inc.
  8,907   660,009
Unitil Corp.
  2,743   150,371
York Water Co. (The)
  1,250   57,112
        13,308,416
Total Common Stocks & Other Equity Interests

(Cost $202,464,305)
  214,586,686
Money Market Funds-0.12%
Invesco Government & Agency Portfolio, Institutional Class, 3.73%(d)(e)

(Cost $248,548)
  248,548   248,548
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $202,712,853)
  214,835,234
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-14.67%
Invesco Private Government Fund, 3.83%(d)(e)(f)
  8,616,250   8,616,250
Invesco Private Prime Fund, 4.15%(d)(e)(f)
  22,903,979   22,908,559
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $31,521,027)
  31,524,809
TOTAL INVESTMENTS IN SECURITIES-114.66%

(Cost $234,233,880)
  246,360,043
OTHER ASSETS LESS LIABILITIES-(14.66)%
  (31,499,156)
NET ASSETS-100.00%
  $214,860,887
 
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, 2022.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2022.
    
  Value
August 31, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2022 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $1,510,821   $(1,262,273)   $-   $-   $248,548   $1,031
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2022
(Unaudited)
  Value
August 31, 2022 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2022 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $7,736,131   $10,379,049   $(9,498,930)   $-   $-   $8,616,250   $58,368*
Invesco Private Prime Fund 20,588,018   24,963,963   (22,646,541)   2,559   560   22,908,559   158,045*
Total $28,324,149   $36,853,833   $(33,407,744)   $2,559   $560   $31,773,357   $217,444
    
* 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, 2022.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Notes to Quarterly Schedules of Portfolio Holdings
November 30, 2022
(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, 2022. 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 International Developed Dynamic Multifactor ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $12,472,281   $93,624,945   $-   $106,097,226
Money Market Funds 54,101   4,750,827   -   4,804,928
Total Investments $12,526,382   $98,375,772   $-   $110,902,154
Invesco Russell 1000® Dynamic Multifactor ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $2,310,684,540   $-   $172,345   $2,310,856,885
Money Market Funds -   37,445,151   -   37,445,151
Total Investments $2,310,684,540   $37,445,151   $172,345   $2,348,302,036
Invesco Russell 2000® Dynamic Multifactor ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $214,586,686   $-   $-   $214,586,686
Money Market Funds 248,548   31,524,809   -   31,773,357
Total Investments $214,835,234   $31,524,809   $-   $246,360,043