NPORT-EX 2 edgar.htm
Schedule of Investments
Invesco International Developed Dynamic Multifactor ETF (IMFL)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.83%
Australia-8.36%
Adbri Ltd.(a)
  121,351   $164,142
Allkem Ltd.(a)(b)
  42,944   244,877
ALS Ltd.
  41,190   334,287
Alumina Ltd.(a)
  322,155   155,932
AMP Ltd.
  743,099   460,686
Ampol Ltd.
  63,773   1,447,405
Ansell Ltd.
  33,769   531,104
Aurizon Holdings Ltd.
  171,854   402,236
Beach Energy Ltd.
  468,469   461,268
Bendigo & Adelaide Bank Ltd.
  147,730   873,735
BlueScope Steel Ltd.
  104,481   1,439,558
Boral Ltd.(a)(b)
  28,556   93,913
Challenger Ltd.
  118,514   466,770
Charter Hall Group
  27,054   186,557
Cleanaway Waste Management Ltd.
  141,153   230,235
CSR Ltd.
  97,981   381,352
Deterra Royalties Ltd.
  45,906   150,972
Domino’s Pizza Enterprises Ltd.
  3,954   141,047
Downer EDI Ltd.
  178,156   500,856
EBOS Group Ltd.
  42,933   981,150
Endeavour Group Ltd.
  133,958   437,887
Evolution Mining Ltd.(b)
  91,293   247,575
Harvey Norman Holdings Ltd.(b)
  157,280   409,838
Iluka Resources Ltd.
  112,170   513,927
Incitec Pivot Ltd.
  521,304   1,009,300
Insignia Financial Ltd.(b)
  90,052   125,986
JB Hi-Fi Ltd.(b)
  28,979   919,223
Magellan Financial Group Ltd.
  36,145   178,307
Metcash Ltd.
  256,389   615,396
New Hope Corp. Ltd.(b)
  141,138   486,624
Nufarm Ltd.
  100,860   316,989
Orica Ltd.
  26,767   277,222
Orora Ltd.
  356,873   601,027
Perpetual Ltd.
  9,526   142,304
Pilbara Minerals Ltd.(b)
  347,920   839,706
Platinum Asset Management Ltd.
  139,259   113,573
Qantas Airways Ltd.(a)
  224,457   788,779
Qube Holdings Ltd.
  130,650   252,952
Ramsay Health Care Ltd.
  26,660   868,997
Region RE Ltd.
  304,751   418,275
Seven Group Holdings Ltd.
  13,812   294,340
Steadfast Group Ltd.
  60,051   224,567
Tabcorp Holdings Ltd.
  325,129   155,215
TPG Telecom Ltd.
  19,776   61,891
Whitehaven Coal Ltd.
  185,683   879,056
Yancoal Australia Ltd.(b)
  44,202   143,024
        20,970,062
Austria-1.60%
ANDRITZ AG
  9,859   535,276
Eurotelesites AG(a)
  9,075   33,022
Mondi PLC(b)
  66,861   1,190,924
OMV AG
  13,069   558,263
Raiffeisen Bank International AG
  34,279   572,248
Telekom Austria AG(a)
  36,303   287,966
voestalpine AG
  29,446   829,559
        4,007,258
Belgium-1.65%
Ackermans & van Haaren N.V.
  5,886   974,250
Ageas S.A./N.V.
  16,435   707,965
Elia Group S.A./N.V.
  2,514   272,794
  Shares   Value
Belgium-(continued)
Solvay S.A., Class A
  6,243   $723,066
Umicore S.A.(b)
  54,709   1,464,269
        4,142,344
Brazil-0.44%
Yara International ASA
  32,430   1,102,081
Burkina Faso-0.09%
Endeavour Mining PLC
  9,565   222,681
Cambodia-0.06%
NagaCorp Ltd.(a)
  290,000   139,982
Canada-1.70%
Canadian Tire Corp. Ltd., Class A(b)
  14,091   1,466,936
George Weston Ltd.
  6,653   780,931
IGM Financial, Inc.
  8,850   219,904
Power Corp. of Canada
  47,169   1,306,336
Saputo, Inc.(b)
  25,032   487,033
        4,261,140
China-1.35%
AAC Technologies Holdings, Inc.
  182,000   511,491
BOC Aviation Ltd.(c)
  22,200   159,743
Kerry Logistics Network Ltd.
  71,500   62,526
Lenovo Group Ltd.
  926,000   1,144,117
MMG Ltd.(a)(b)
  600,000   172,081
Nexteer Automotive Group Ltd.(b)
  213,000   137,449
SITC International Holdings Co. Ltd.
  344,000   519,724
Wilmar International Ltd.
  133,099   362,018
Xinyi Glass Holdings Ltd.(b)
  282,000   324,594
        3,393,743
Denmark-0.17%
H. Lundbeck A/S
  46,266   221,406
ROCKWOOL A/S, Class B
  768   207,815
        429,221
Finland-1.18%
Kesko OYJ, Class B
  50,305   963,555
Orion OYJ, Class B
  13,480   535,961
Stora Enso OYJ, Class R(b)
  83,573   1,086,032
Valmet OYJ(b)
  14,492   386,925
        2,972,473
France-4.56%
ALD S.A.(b)(c)
  19,541   134,643
Arkema S.A.
  9,268   943,075
Bouygues S.A.
  22,040   839,510
Carrefour S.A.
  63,963   1,213,998
Cie de L’Odet SE
  97   145,208
Covivio S.A.
  8,138   397,974
Eiffage S.A.
  13,645   1,384,590
Eurazeo SE
  8,887   667,612
JCDecaux SE(a)
  19,253   367,412
Rexel S.A.(b)
  60,551   1,462,067
SCOR SE
  25,769   813,412
SEB S.A.
  2,212   252,212
Teleperformance SE
  6,373   893,883
Unibail-Rodamco-Westfield SE(a)(b)
  8,077   514,492
Valeo SE
  55,288   801,113
Wendel SE
  7,176   607,979
        11,439,180
Germany-1.97%
Deutsche Lufthansa AG(a)
  105,127   915,339
Evonik Industries AG
  20,916   391,388
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Germany-(continued)
Fraport AG Frankfurt Airport Services Worldwide(a)
  2,478   $141,568
Hella GmbH & Co. KGaA
  1,705   148,454
HelloFresh SE(a)
  9,839   150,510
HOCHTIEF AG
  3,940   426,240
Siemens Energy AG, class A(a)
  32,747   388,745
Sixt SE, Preference Shares
  1,602   110,120
Talanx AG
  3,311   240,601
Telefonica Deutschland Holding AG
  237,835   609,829
thyssenkrupp AG
  130,758   986,136
Traton SE
  5,798   125,069
Wacker Chemie AG(b)
  2,424   297,014
        4,931,013
Hong Kong-2.66%
ASMPT Ltd.
  45,200   462,110
Bank of East Asia Ltd. (The)
  259,200   314,280
Cafe de Coral Holdings Ltd.
  88,000   108,165
Dah Sing Banking Group Ltd.
  95,600   62,058
Dah Sing Financial Holdings Ltd.
  47,600   98,122
DFI Retail Group Holdings Ltd.
  79,853   177,274
Hang Lung Group Ltd.
  238,000   318,743
Hang Lung Properties Ltd.
  88,000   117,629
Hutchison Port Holdings Trust, Class U
  1,341,138   205,194
Jardine Matheson Holdings Ltd.
  16,780   647,876
Johnson Electric Holdings Ltd., Class H
  95,000   147,177
Kerry Properties Ltd.
  129,500   218,202
Man Wah Holdings Ltd.(b)
  399,600   267,584
New World Development Co. Ltd.
  340,000   505,845
NWS Holdings Ltd.
  124,000   113,199
Orient Overseas International Ltd.
  29,500   354,855
PCCW Ltd.
  845,000   428,434
Swire Pacific Ltd., Class B
  65,000   69,492
United Energy Group Ltd.(b)
  1,970,000   186,651
Vitasoy International Holdings Ltd.(b)
  50,000   54,415
VTech Holdings Ltd.
  44,300   261,195
WH Group Ltd.
  2,090,000   1,343,329
Yue Yuen Industrial Holdings Ltd.
  184,500   211,423
        6,673,252
Indonesia-0.09%
First Pacific Co. Ltd.
  602,000   238,170
Ireland-0.68%
AIB Group PLC
  114,809   532,891
Glanbia PLC
  27,078   457,354
Smurfit Kappa Group PLC
  18,790   715,519
        1,705,764
Israel-3.26%
Airport City Ltd.(a)
  7,563   118,722
Amot Investments Ltd.
  45,756   233,443
Bank Hapoalim B.M.
  96,253   814,407
Bank Leumi le-Israel B.M.
  112,307   842,883
Bezeq The Israeli Telecommunication Corp. Ltd.
  460,011   596,368
Big Shopping Centers Ltd.(a)(b)
  3,668   328,870
Delek Group Ltd.(b)
  2,063   266,953
Electra Ltd.(b)
  360   136,872
Energix-Renewable Energies Ltd.
  17,834   56,508
Fattal Holdings 1998 Ltd.(a)
  854   87,828
First International Bank of Israel Ltd. (The)
  13,765   551,842
Harel Insurance Investments & Financial Services Ltd.(b)
  29,046   216,981
  Shares   Value
Israel-(continued)
ICL Group Ltd.
  157,337   $791,734
Israel Corp. Ltd.(a)(b)
  977   245,109
Israel Discount Bank Ltd., Class A
  115,143   555,602
Melisron Ltd.(b)
  4,241   295,404
Mivne Real Estate KD Ltd.
  165,061   435,556
Mizrahi Tefahot Bank Ltd.
  12,377   442,024
Phoenix Holdings Ltd. (The)
  43,312   414,035
Strauss Group Ltd.(a)(b)
  3,052   58,547
Tower Semiconductor Ltd.(a)
  24,635   676,717
        8,166,405
Italy-2.52%
A2A S.p.A.
  407,633   877,528
Banca Mediolanum S.p.A.
  44,004   392,072
Banco BPM S.p.A.
  155,778   862,425
Buzzi S.p.A.
  6,620   193,579
Hera S.p.A.
  204,733   647,814
Italgas S.p.A.(b)
  72,912   406,920
Leonardo S.p.A.
  64,645   992,416
Pirelli & C. S.p.A.(c)
  129,861   645,829
Reply S.p.A.
  1,918   224,341
Telecom Italia S.p.A.(a)(b)
  1,762,318   512,636
Telecom Italia S.p.A., RSP(a)(b)
  1,016,888   301,459
UnipolSai Assicurazioni S.p.A.
  104,839   259,665
        6,316,684
Japan-32.71%
Activia Properties, Inc.
  26   71,492
AEON Mall Co. Ltd.
  16,591   192,973
AEON REIT Investment Corp.
  57   55,444
AGC, Inc.
  9,725   353,254
Aica Kogyo Co. Ltd.
  5,362   120,598
Ain Holdings, Inc.(b)
  6,275   191,007
Air Water, Inc.
  40,360   530,043
Aisin Corp.
  16,283   600,390
Alfresa Holdings Corp.
  42,835   688,878
Alps Alpine Co. Ltd.
  52,635   461,248
Amada Co. Ltd.
  14,155   141,947
Amano Corp.
  4,473   95,218
ANA Holdings, Inc.(a)(b)
  8,240   170,112
Anritsu Corp.
  10,437   90,614
As One Corp.
  2,010   68,960
ASKUL Corp.
  10,357   151,255
Benesse Holdings, Inc.
  18,714   330,139
Bic Camera, Inc.
  37,772   311,967
BIPROGY, Inc.
  5,571   161,023
Brother Industries Ltd.
  15,289   258,135
Calbee, Inc.
  3,587   67,186
Canon Marketing Japan, Inc.
  4,940   124,674
Casio Computer Co. Ltd.
  11,938   100,859
Chubu Electric Power Co., Inc.
  46,899   579,595
Coca-Cola Bottlers Japan Holdings, Inc.(b)
  18,339   251,264
COMSYS Holdings Corp.
  17,680   383,534
Concordia Financial Group Ltd.
  50,961   239,198
Cosmo Energy Holdings Co. Ltd.
  21,848   832,776
Cosmos Pharmaceutical Corp.(b)
  955   101,098
CyberAgent, Inc.
  39,795   240,813
Dai Nippon Printing Co. Ltd.
  11,982   336,600
Daicel Corp.
  41,714   400,958
Daido Steel Co. Ltd.
  9,245   426,933
Daiichikosho Co. Ltd.
  3,276   49,527
Daito Trust Construction Co. Ltd.
  2,735   301,556
DeNA Co. Ltd.
  8,440   85,864
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Japan-(continued)
Denka Co. Ltd.
  9,489   $169,773
DIC Corp.
  21,596   355,490
DMG Mori Co. Ltd.
  23,700   425,874
Dowa Holdings Co. Ltd.
  12,025   427,527
Ebara Corp.(b)
  5,438   307,921
Electric Power Development Co. Ltd.
  43,732   679,638
ENEOS Holdings, Inc.
  182,419   721,112
EXEO Group, Inc.
  12,553   264,756
Ezaki Glico Co. Ltd.
  4,510   124,438
Food & Life Cos. Ltd.
  5,510   106,708
FP Corp.
  4,321   81,577
Frontier Real Estate Investment Corp.
  17   52,149
Fuji Electric Co. Ltd.
  6,019   252,469
Fuji Media Holdings, Inc.
  11,765   121,283
Fuji Oil Holdings, Inc.
  10,013   157,271
Fujikura Ltd.
  70,142   540,174
Fukuoka Financial Group, Inc.
  9,149   212,457
Furukawa Electric Co. Ltd.
  16,243   261,332
Fuyo General Lease Co. Ltd.
  2,508   203,578
GMO Internet Group, Inc.
  7,285   117,109
GS Yuasa Corp.
  20,019   294,323
GungHo Online Entertainment, Inc.
  8,144   126,263
Hachijuni Bank Ltd. (The)
  18,732   101,506
Hakuhodo DY Holdings, Inc.
  31,381   236,788
Haseko Corp.
  27,995   344,363
Heiwa Corp.
  8,131   115,721
Hirogin Holdings, Inc.
  10,087   63,251
Hirose Electric Co. Ltd.
  1,266   141,728
Horiba Ltd.
  5,839   393,269
House Foods Group, Inc.
  4,899   107,004
Hulic Co. Ltd.(b)
  29,657   294,494
Idemitsu Kosan Co. Ltd.
  49,918   1,369,550
IHI Corp.
  24,161   466,762
Iida Group Holdings Co. Ltd.
  12,577   188,015
Industrial & Infrastructure Fund Investment Corp.
  61   56,942
INFRONEER Holdings, Inc.
  57,378   606,052
Internet Initiative Japan, Inc.
  4,542   81,632
Isetan Mitsukoshi Holdings Ltd.
  19,123   216,150
Isuzu Motors Ltd.
  39,081   516,947
ITO EN Ltd.
  3,798   115,480
Itoham Yonekyu Holdings, Inc.
  6,797   181,609
Iwatani Corp.
  10,150   487,881
Iyogin Holdings, Inc.
  9,191   59,423
Izumi Co. Ltd.
  10,134   242,254
J. Front Retailing Co. Ltd.
  24,675   226,078
Japan Airlines Co. Ltd.
  5,808   110,436
Japan Aviation Electronics Industry Ltd.
  5,411   107,865
Japan Post Insurance Co. Ltd.
  16,072   300,599
Japan Prime Realty Investment Corp.
  28   70,268
Japan Steel Works Ltd. (The)
  4,194   72,441
Jeol Ltd.
  2,743   108,766
JFE Holdings, Inc.
  55,538   818,973
JGC Holdings Corp.
  39,503   443,970
JTEKT Corp.
  59,922   549,425
JustSystems Corp.
  2,854   64,287
Kagome Co. Ltd.
  2,743   58,948
Kajima Corp.
  20,497   323,951
Kakaku.com, Inc.
  5,175   58,721
Kamigumi Co. Ltd.
  8,579   187,962
Kandenko Co. Ltd.
  17,864   160,472
Kaneka Corp.
  15,863   398,413
  Shares   Value
Japan-(continued)
Kansai Paint Co. Ltd.
  11,305   $172,211
Kawasaki Heavy Industries Ltd.
  23,578   536,360
Kawasaki Kisen Kaisha Ltd.(b)
  32,372   1,136,255
KDX Realty Investment Corp.
  46   52,741
Keikyu Corp.
  12,769   109,003
Kewpie Corp.
  10,669   186,194
Kinden Corp.
  15,044   225,861
Kintetsu Group Holdings Co. Ltd.
  21,968   616,088
Kobe Steel Ltd.
  64,166   751,537
Koito Manufacturing Co. Ltd.
  9,506   143,810
Kokuyo Co. Ltd.
  8,180   127,402
Konica Minolta, Inc.(a)
  63,922   202,314
K’s Holdings Corp.
  38,129   324,845
Kuraray Co. Ltd.
  35,629   362,592
Kusuri no Aoki Holdings Co. Ltd.
  6,000   138,885
Kyudenko Corp.
  4,871   153,641
Kyushu Electric Power Co., Inc.(a)
  66,099   442,910
Kyushu Railway Co.
  13,526   282,808
Lawson, Inc.
  10,354   512,745
Lion Corp.
  17,215   150,683
Lixil Corp.
  34,180   417,438
Mabuchi Motor Co. Ltd.
  2,221   69,829
Macnica Holdings, Inc.
  12,149   600,978
Maruichi Steel Tube Ltd.
  5,614   145,102
Mazda Motor Corp.
  115,916   1,237,687
Mebuki Financial Group, Inc.
  66,143   199,098
Medipal Holdings Corp.
  39,114   619,114
MEIJI Holdings Co. Ltd.
  10,923   252,913
Menicon Co. Ltd.
  9,195   133,974
MINEBEA MITSUMI, Inc.
  17,426   331,581
Mitsubishi Chemical Group Corp.
  144,943   949,554
Mitsubishi Gas Chemical Co., Inc.
  39,193   619,702
Mitsubishi Logistics Corp.
  10,064   301,644
Mitsubishi Materials Corp.(b)
  33,006   543,421
Mitsubishi Motors Corp.
  147,664   480,843
Mitsui Chemicals, Inc.
  25,646   750,809
Mitsui High-Tec, Inc.
  1,266   63,362
Mitsui Mining & Smelting Co. Ltd.
  14,445   443,605
Mitsui OSK Lines Ltd.
  37,910   1,041,381
Miura Co. Ltd.
  3,376   65,449
Morinaga & Co. Ltd.
  1,390   49,616
Morinaga Milk Industry Co. Ltd.
  14,044   262,194
Nabtesco Corp.
  4,726   88,472
Nagase & Co. Ltd.
  25,019   393,220
Nagoya Railroad Co. Ltd.
  18,706   273,881
Nankai Electric Railway Co. Ltd.
  7,496   142,101
NEC Networks & System Integration Corp.
  4,891   71,429
NET One Systems Co. Ltd.
  13,737   191,046
NGK Insulators Ltd.
  31,311   382,082
NH Foods Ltd.
  14,204   422,176
NHK Spring Co. Ltd.
  40,921   311,402
Nichirei Corp.
  10,954   238,886
Nifco, Inc.
  5,303   129,566
Nihon Kohden Corp.
  5,647   141,791
Nikon Corp.
  19,858   191,347
Nippon Electric Glass Co. Ltd.(b)
  20,276   427,917
Nippon Express Holdings, Inc.
  18,150   990,893
Nippon Kayaku Co. Ltd.
  16,226   148,173
Nippon Shinyaku Co. Ltd.
  4,222   152,247
Nippon Shokubai Co. Ltd.
  8,302   300,497
Nippon Yusen K.K.
  31,985   859,799
Nipro Corp.
  30,787   232,826
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Japan-(continued)
Nishi-Nippon Railroad Co. Ltd.
  20,009   $320,434
Nissan Motor Co. Ltd.
  89,154   351,526
Niterra Co. Ltd.
  15,828   367,555
NOF Corp.
  2,010   93,066
NOK Corp.
  21,017   267,981
Nomura Real Estate Holdings, Inc.
  3,983   97,100
NS Solutions Corp.
  2,795   87,819
NSK Ltd.
  90,601   475,022
Obayashi Corp.
  94,092   793,992
Oji Holdings Corp.
  137,581   511,107
OKUMA Corp.
  4,477   187,578
Open House Group Co. Ltd.
  7,005   195,601
Orient Corp.(b)
  15,080   110,370
Osaka Gas Co. Ltd.
  29,307   570,935
OSG Corp.
  12,793   159,312
PALTAC Corp.
  8,347   268,475
Park24 Co. Ltd.(a)
  5,386   65,670
Penta-Ocean Construction Co. Ltd.
  33,565   183,996
Persol Holdings Co. Ltd.
  202,280   348,638
Pigeon Corp.
  5,919   66,423
Relo Group, Inc.
  5,708   59,962
Rengo Co. Ltd.
  55,268   349,736
Resonac Holdings Corp.
  47,201   881,217
Resorttrust, Inc.
  6,863   104,476
Ricoh Co. Ltd.
  114,573   935,432
Rinnai Corp.
  8,029   163,203
Ryohin Keikaku Co. Ltd.
  13,297   210,156
Sanken Electric Co. Ltd.
  1,477   75,481
Sankyo Co. Ltd.
  5,716   246,990
Sankyu, Inc.
  11,498   391,913
Sanwa Holdings Corp.
  16,843   241,648
Sapporo Holdings Ltd.
  3,330   129,880
Sawai Group Holdings Co. Ltd.
  8,553   284,531
SBI Holdings, Inc.
  46,055   999,076
SCREEN Holdings Co. Ltd.
  5,856   426,618
Sega Sammy Holdings, Inc.
  7,866   114,264
Seibu Holdings, Inc.
  35,122   423,954
Seiko Epson Corp.
  34,653   515,218
Seino Holdings Co. Ltd.
  17,908   252,324
Sekisui Chemical Co. Ltd.
  17,861   253,776
Sekisui House REIT, Inc.
  159   91,097
Seven Bank Ltd.
  36,069   73,268
SG Holdings Co. Ltd.
  18,801   271,838
Sharp Corp.(a)
  10,847   67,913
Shikoku Electric Power Co., Inc.
  34,169   236,445
SHIMAMURA Co. Ltd.
  1,870   209,408
Shimizu Corp.
  82,813   544,263
Shinko Electric Industries Co. Ltd.
  3,676   137,233
Ship Healthcare Holdings, Inc.
  20,669   291,856
Sohgo Security Services Co. Ltd.
  22,288   129,173
Sojitz Corp.
  60,622   1,350,345
Sotetsu Holdings, Inc.
  6,552   118,888
Stanley Electric Co. Ltd.
  21,783   403,141
Subaru Corp.
  22,921   406,372
Sugi Holdings Co. Ltd.
  4,628   200,791
SUMCO Corp.
  58,102   871,127
Sumitomo Bakelite Co. Ltd.
  2,668   127,431
Sumitomo Chemical Co. Ltd.
  301,298   769,371
Sumitomo Electric Industries Ltd.
  70,844   878,871
Sumitomo Forestry Co. Ltd.
  18,686   477,025
Sumitomo Heavy Industries Ltd.
  15,964   381,080
Sumitomo Metal Mining Co. Ltd.
  11,642   337,995
  Shares   Value
Japan-(continued)
Sumitomo Rubber Industries Ltd.
  30,904   $357,360
Sundrug Co. Ltd.
  5,605   169,665
Suzuken Co. Ltd.
  18,340   625,621
Taisei Corp.
  8,529   290,252
Taisho Pharmaceutical Holdings Co. Ltd.
  4,222   248,148
Taiyo Yuden Co. Ltd.
  6,608   171,374
Takara Bio, Inc.(b)
  12,149   100,423
Takara Holdings, Inc.(b)
  45,810   376,495
Takashimaya Co. Ltd.
  21,315   287,281
TBS Holdings, Inc.
  3,165   58,800
TechnoPro Holdings, Inc.
  4,964   115,307
Teijin Ltd.
  38,771   352,869
THK Co. Ltd.
  16,030   320,253
Tobu Railway Co. Ltd.
  7,396   182,855
Toda Corp.
  14,358   82,000
Toho Gas Co. Ltd.
  23,403   417,212
Tokai Carbon Co. Ltd.
  41,078   303,983
Tokyo Gas Co. Ltd.
  48,458   1,123,317
Tokyo Ohka Kogyo Co. Ltd.
  1,209   74,935
Tokyo Seimitsu Co. Ltd.
  1,899   110,175
Tokyo Tatemono Co. Ltd.
  14,129   200,846
Tokyu Fudosan Holdings Corp.
  70,062   433,163
TOPPAN Holdings, Inc.
  10,792   252,873
Toray Industries, Inc.
  70,353   365,054
Toshiba TEC Corp.
  2,522   49,626
Tosoh Corp.
  17,993   239,404
TOTO Ltd.
  6,652   170,850
Toyo Seikan Group Holdings Ltd.
  6,771   105,091
Toyo Suisan Kaisha Ltd.
  4,011   213,526
Toyo Tire Corp.
  22,469   373,052
Toyoda Gosei Co. Ltd.
  14,869   297,511
Toyota Boshoku Corp.
  14,970   258,217
TS Tech Co. Ltd.
  18,277   225,750
Tsumura & Co.
  15,020   283,971
Tsuruha Holdings, Inc.
  2,877   242,093
Ulvac, Inc.
  2,248   98,962
Ushio, Inc.
  6,657   85,782
Welcia Holdings Co. Ltd.
  13,813   241,437
Yamada Holdings Co. Ltd.
  151,636   439,517
Yamaguchi Financial Group, Inc.
  19,647   172,568
Yamaha Motor Co. Ltd.(b)
  21,680   553,897
Yamato Holdings Co. Ltd.
  19,416   345,216
Yamato Kogyo Co. Ltd.
  3,962   199,983
Yamazaki Baking Co. Ltd.(b)
  10,824   236,856
Yaoko Co. Ltd.
  4,096   223,509
Yokohama Rubber Co. Ltd. (The)
  23,230   516,816
Zenkoku Hosho Co. Ltd.
  3,091   104,479
Zeon Corp.
  6,845   63,618
        82,036,058
Luxembourg-0.09%
RTL Group S.A.
  6,424   231,865
Mexico-0.04%
Fresnillo PLC
  12,535   92,483
Netherlands-0.95%
Aalberts N.V.
  9,077   359,215
ABN AMRO Bank N.V., CVA(c)
  45,926   617,103
CTP N.V.(c)
  8,014   128,713
OCI N.V.
  25,653   552,522
Randstad N.V.(b)
  12,398   737,247
        2,394,800
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
New Zealand-1.07%
a2 Milk Co. Ltd. (The)(a)
  53,641   $137,495
Air New Zealand Ltd.
  404,086   167,221
Fletcher Building Ltd.
  206,988   591,928
Mainfreight Ltd.(b)
  10,880   453,602
Meridian Energy Ltd.
  67,298   216,770
Ryman Healthcare Ltd.
  133,218   444,324
SKYCITY Entertainment Group Ltd.(b)
  91,805   104,901
Spark New Zealand Ltd.
  176,480   565,180
        2,681,421
Nigeria-0.16%
Airtel Africa PLC(c)
  288,149   399,437
Norway-0.71%
Aker ASA, Class A
  6,357   398,979
Norsk Hydro ASA
  176,402   1,027,435
Var Energi ASA
  107,295   344,716
        1,771,130
Poland-1.55%
Bank Polska Kasa Opieki S.A.
  9,999   352,198
KGHM Polska Miedz S.A.
  36,660   1,059,307
ORLEN S.A.
  37,028   547,869
Powszechny Zaklad Ubezpieczen S.A.
  130,332   1,489,415
Santander Bank Polska S.A.(a)(b)
  3,591   447,092
        3,895,881
Portugal-0.48%
Galp Energia SGPS S.A.(b)
  80,572   1,200,440
Singapore-2.07%
CapitaLand Ascott Trust
  223,660   155,017
City Developments Ltd.
  90,320   423,650
ComfortDelGro Corp. Ltd.
  544,247   526,059
Frasers Logistics & Commercial Trust(c)
  608,214   505,858
Jardine Cycle & Carriage Ltd.
  16,731   357,536
Keppel DC REIT
  97,770   134,794
Keppel REIT
  403,517   261,533
NetLink NBN Trust(c)
  214,124   135,572
Olam Group Ltd.
  306,797   234,477
Sembcorp Industries Ltd.
  118,004   454,474
Singapore Airlines Ltd.(b)
  107,855   512,364
Singapore Post Ltd.(b)
  396,885   133,822
StarHub Ltd.
  153,086   122,735
Suntec REIT
  432,564   372,732
UOL Group Ltd.
  47,022   207,875
Venture Corp. Ltd.
  69,509   652,591
        5,191,089
South Korea-10.11%
BGF retail Co. Ltd.
  2,098   220,671
BNK Financial Group, Inc.
  74,571   414,428
Cheil Worldwide, Inc.
  13,741   208,434
CJ CheilJedang Corp.
  2,112   505,839
CJ Corp.
  3,356   239,315
CJ ENM Co. Ltd.(a)
  2,671   158,585
CJ Logistics Corp.
  2,140   187,601
Coway Co. Ltd.
  6,233   241,561
Daewoo Engineering & Construction Co. Ltd.(a)
  52,298   188,089
DB Insurance Co. Ltd.
  11,936   774,362
DGB Financial Group, Inc.
  39,370   259,385
DL E&C Co. Ltd.
  7,786   231,139
DL Holdings Co. Ltd.
  3,173   118,051
Doosan Bobcat, Inc.
  5,091   179,940
E-MART, Inc.
  5,274   309,863
  Shares   Value
South Korea-(continued)
F&F Co. Ltd.
  774   $51,534
Fila Holdings Corp.
  5,936   175,989
Green Cross Corp.
  766   68,041
GS Engineering & Construction Corp.
  16,389   205,918
GS Holdings Corp.
  12,116   387,855
GS Retail Co. Ltd.
  10,175   188,097
Hana Financial Group, Inc.
  34,579   1,116,316
Hankook Tire & Technology Co. Ltd.
  11,071   389,156
Hanwha Aerospace Co. Ltd.
  2,243   218,884
Hanwha Corp.
  11,813   234,401
Hanwha Corp., Third Pfd.
  5,912   65,116
Hanwha Life Insurance Co. Ltd.(a)
  94,136   201,749
Hanwha Solutions Corp.(a)
  4,099   106,117
HD Hyundai Co. Ltd.
  11,294   527,868
HD Hyundai Infracore Co. Ltd.
  18,953   114,733
HL Mando Co. Ltd.
  6,612   182,706
HMM Co. Ltd.
  56,067   673,160
Hyundai Department Store Co. Ltd.
  3,830   150,807
Hyundai Engineering & Construction Co. Ltd.
  19,452   540,522
Hyundai Glovis Co. Ltd.
  4,342   584,587
Hyundai Marine & Fire Insurance Co. Ltd.
  15,754   380,983
Hyundai Steel Co.
  22,591   616,365
Hyundai Wia Corp.
  4,134   190,975
Industrial Bank of Korea
  49,160   450,771
KB Financial Group, Inc.
  14,653   595,138
KCC Corp.
  1,081   174,699
Korea Aerospace Industries Ltd.
  3,924   140,974
Korea Gas Corp.(a)
  6,772   130,438
Korean Air Lines Co. Ltd.
  35,276   613,840
Kumho Petrochemical Co. Ltd.
  4,542   450,627
LG Display Co. Ltd.(a)
  60,025   582,501
LG Electronics, Inc.
  6,010   478,415
LG Innotek Co. Ltd.
  3,561   656,914
LG Uplus Corp.
  56,870   462,842
LOTTE Chemical Corp.
  1,417   169,361
LOTTE Chilsung Beverage Co. Ltd.
  913   104,594
LOTTE Corp.
  6,873   149,164
LOTTE Fine Chemical Co. Ltd.
  3,744   167,735
LOTTE Shopping Co. Ltd.
  2,935   174,032
LS Corp.
  4,479   294,052
Meritz Financial Group, Inc.(a)
  10,005   430,398
Mirae Asset Securities Co. Ltd.
  70,817   393,565
Mirae Asset Securities Co. Ltd., Second Pfd.
  36,026   102,760
NCSoft Corp.
  679   137,889
NH Investment & Securities Co. Ltd.
  37,029   294,476
OCI Co. Ltd.(a)
  657   53,827
OCI Holdings Co. Ltd.
  3,221   246,665
Orion Corp.
  816   74,443
Ottogi Corp.
  379   111,190
Pan Ocean Co. Ltd.
  63,550   222,892
Posco International Corp.
  1,379   61,139
S-1 Corp.
  2,216   103,401
Samsung C&T Corp.
  3,025   279,721
Samsung Electro-Mechanics Co. Ltd.
  2,262   255,454
Samsung Engineering Co. Ltd.(a)
  8,818   172,580
Samsung Fire & Marine Insurance Co. Ltd.
  1,793   361,338
Samsung SDS Co. Ltd.
  1,600   208,844
Samsung Securities Co. Ltd.
  16,917   514,007
SD Biosensor, Inc.
  8,833   77,776
Seegene, Inc.
  6,846   113,556
Shinhan Financial Group Co. Ltd.
  26,233   750,299
Shinsegae, Inc.
  1,809   238,508
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
South Korea-(continued)
SK Innovation Co. Ltd.(a)
  2,588   $287,054
SK Networks Co. Ltd.
  25,317   111,264
SK, Inc.
  6,770   858,483
S-Oil Corp.
  7,543   398,739
Woori Financial Group, Inc.
  107,222   1,082,068
        25,347,575
Spain-1.88%
Acciona S.A.
  3,134   442,826
ACS Actividades de Construccion y Servicios S.A.
  35,631   1,424,842
Banco de Sabadell S.A.
  337,794   493,880
Bankinter S.A.
  71,053   499,577
Enagas S.A.(b)
  33,775   619,112
Mapfre S.A.
  262,853   579,908
Merlin Properties SOCIMI S.A.
  18,189   183,774
Redeia Corp. S.A.
  28,565   479,353
        4,723,272
Sweden-4.02%
Axfood AB(b)
  14,764   368,577
Boliden AB(a)
  50,004   1,335,654
Electrolux AB, Class B(a)(b)
  57,270   564,292
Fastighets AB Balder, Class B(a)(b)
  107,937   637,187
Getinge AB, Class B
  40,370   859,112
Holmen AB, Class B
  8,226   345,326
Husqvarna AB, Class B(b)
  26,146   199,909
Sagax AB, Class D
  27,525   70,659
Securitas AB, Class B(b)
  130,073   1,172,275
Skanska AB, Class B
  89,986   1,446,976
SKF AB, Class B
  27,421   515,770
SSAB AB, Class A
  11,528   87,393
SSAB AB, Class B
  33,371   247,062
Sweco AB, Class B
  21,170   253,947
Tele2 AB, Class B
  92,004   722,240
Trelleborg AB, Class B
  32,573   1,012,112
Volvo Car AB, Class B(a)(b)
  79,165   258,145
        10,096,636
Switzerland-1.82%
Adecco Group AG
  35,117   1,699,008
Avolta AG(a)
  13,638   478,832
Baloise Holding AG(b)
  3,694   568,830
DKSH Holding AG
  8,093   537,486
Emmi AG(b)
  129   136,039
Georg Fischer AG
  7,784   512,936
Helvetia Holding AG
  2,449   337,123
PSP Swiss Property AG
  2,220   295,132
        4,565,386
United Kingdom-9.16%
Aviva PLC
  218,541   1,155,065
B&M European Value Retail S.A.
  73,572   534,243
Barratt Developments PLC
  181,213   1,178,692
Beazley PLC
  119,869   813,371
Berkeley Group Holdings PLC (The)
  13,605   798,470
  Shares   Value
United Kingdom-(continued)
BT Group PLC
  527,949   $821,411
Centrica PLC
  439,627   829,532
DCC PLC
  26,413   1,786,235
Dowlais Group PLC
  355,205   459,340
DS Smith PLC
  343,027   1,261,946
Hargreaves Lansdown PLC
  22,091   200,909
Hiscox Ltd.
  19,020   244,636
Howden Joinery Group PLC
  61,999   574,687
IMI PLC
  17,509   346,447
International Consolidated Airlines Group S.A.(a)
  199,456   386,580
ITV PLC(b)
  988,770   752,543
J Sainsbury PLC
  450,669   1,631,131
JD Sports Fashion PLC
  141,102   280,536
Johnson Matthey PLC
  47,783   937,609
Kingfisher PLC
  508,869   1,413,382
Pepco Group N.V.(a)(c)
  18,090   102,912
Persimmon PLC
  85,134   1,348,810
Renishaw PLC
  1,913   75,947
RS GROUP PLC
  60,001   567,712
Smiths Group PLC
  42,572   888,174
Tate & Lyle PLC
  28,700   224,173
Taylor Wimpey PLC
  938,142   1,538,590
Wise PLC, Class A(a)
  111,879   1,105,873
WPP PLC
  81,548   729,670
        22,988,626
United States-0.67%
Samsonite International S.A.(a)(c)
  109,200   318,779
Signify N.V.
  33,655   978,981
Sims Ltd.(b)
  42,088   373,389
        1,671,149
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $246,576,726)
  250,398,701
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-8.09%
Invesco Private Government Fund, 5.32%(d)(e)(f)
  5,681,095   5,681,095
Invesco Private Prime Fund, 5.55%(d)(e)(f)
  14,596,222   14,602,060
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $20,279,694)
  20,283,155
TOTAL INVESTMENTS IN SECURITIES-107.92%

(Cost $266,856,420)
  270,681,856
OTHER ASSETS LESS LIABILITIES-(7.92)%
  (19,854,843)
NET ASSETS-100.00%
  $250,827,013
 
See accompanying notes which are an integral part of this schedule.
Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
November 30, 2023
(Unaudited)
Investment Abbreviations:
CVA-Dutch Certificates
Pfd.-Preferred
REIT-Real Estate Investment Trust
RSP-Registered Savings Plan Shares
    
Notes to Schedule of Investments:
(a) Non-income producing security.
(b) All or a portion of this security was out on loan at November 30, 2023.
(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, 2023 was $3,148,589, which represented 1.26% of the Fund’s Net Assets.
(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, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $1,938,304   $(1,938,304)   $-   $-   $-   $860
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 5,071,761   10,321,810   (9,712,476)   -   -   5,681,095   71,468*
Invesco Private Prime Fund 13,041,667   18,739,366   (17,184,776)   3,549   2,254   14,602,060   190,095*
Total $18,113,428   $30,999,480   $(28,835,556)   $3,549   $2,254   $20,283,155   $262,423
    
* 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, 2023.
(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, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Communication Services-2.18%
Alphabet, Inc., Class A(b)
  14,640   $1,940,239
Alphabet, Inc., Class C(b)
  13,510   1,809,259
Charter Communications, Inc., Class A(b)
  3,590   1,436,467
Comcast Corp., Class A
  73,052   3,060,148
Electronic Arts, Inc.
  10,686   1,474,775
Fox Corp., Class A(c)
  71,614   2,115,478
Interpublic Group of Cos., Inc. (The)
  490,609   15,081,321
Iridium Communications, Inc.
  75,060   2,859,786
Liberty Broadband Corp.(b)(d)
  64,295   0
Liberty Media Corp.-Liberty Formula One(b)
  53,666   3,416,377
Live Nation Entertainment, Inc.(b)(c)
  30,498   2,568,542
Madison Square Garden Sports Corp., Class A(b)(c)
  7,262   1,228,658
Meta Platforms, Inc., Class A(b)
  11,938   3,905,517
Netflix, Inc.(b)
  10,373   4,916,491
New York Times Co. (The), Class A
  41,350   1,943,036
News Corp., Class A
  332,293   7,323,738
News Corp., Class B(c)
  117,150   2,699,136
Nexstar Media Group, Inc., Class A(c)
  12,257   1,739,636
Omnicom Group, Inc.
  253,382   20,430,191
Pinterest, Inc., Class A(b)
  292,067   9,950,723
Roblox Corp., Class A(b)(c)
  110,285   4,335,303
Spotify Technology S.A.(b)
  41,668   7,713,163
Take-Two Interactive Software, Inc.(b)
  7,701   1,218,298
Walt Disney Co. (The)(b)
  12,322   1,142,126
Warner Bros Discovery, Inc.(b)
  114,447   1,195,971
ZoomInfo Technologies, Inc., Class A(b)(c)
  180,977   2,600,639
        108,105,018
Consumer Discretionary-16.36%
Airbnb, Inc., Class A(b)(c)
  35,325   4,462,961
Aptiv PLC(b)
  63,868   5,290,825
Aramark(c)
  371,614   10,408,908
AutoNation, Inc.(b)(c)
  60,094   8,128,915
AutoZone, Inc.(b)
  5,293   13,814,359
Bath & Body Works, Inc.
  29,988   978,209
Best Buy Co., Inc.
  43,529   3,087,947
Booking Holdings, Inc.(b)
  3,595   11,236,891
BorgWarner, Inc.
  557,237   18,773,315
Boyd Gaming Corp.
  110,936   6,550,771
Bright Horizons Family Solutions, Inc.(b)(c)
  34,672   3,031,720
Brunswick Corp.(c)
  109,614   8,645,256
Burlington Stores, Inc.(b)(c)
  8,481   1,438,293
Caesars Entertainment, Inc.(b)
  84,247   3,767,526
Capri Holdings Ltd.(b)
  172,543   8,357,983
CarMax, Inc.(b)(c)
  67,872   4,339,736
Chipotle Mexican Grill, Inc.(b)
  4,032   8,879,472
Choice Hotels International, Inc.(c)
  9,269   1,022,185
Churchill Downs, Inc.
  73,374   8,494,508
Columbia Sportswear Co.(c)
  13,221   1,035,601
Coupang, Inc. (South Korea)(b)(c)
  177,053   2,705,370
Crocs, Inc.(b)(c)
  142,169   15,014,468
D.R. Horton, Inc.
  282,510   36,068,052
Darden Restaurants, Inc.(c)
  105,337   16,482,080
Deckers Outdoor Corp.(b)
  28,505   18,926,465
Dick’s Sporting Goods, Inc.(c)
  149,225   19,414,172
DoorDash, Inc., Class A(b)
  25,182   2,366,604
DraftKings, Inc., Class A(b)
  48,131   1,840,529
eBay, Inc.
  43,989   1,803,989
Etsy, Inc.(b)(c)
  37,103   2,812,778
Expedia Group, Inc.(b)
  31,210   4,250,178
Five Below, Inc.(b)(c)
  38,428   7,242,141
  Shares   Value
Consumer Discretionary-(continued)
Floor & Decor Holdings, Inc., Class A(b)(c)
  54,729   $5,019,197
Ford Motor Co.
  2,150,987   22,069,127
Garmin Ltd.
  40,638   4,967,589
General Motors Co.
  278,100   8,787,960
Gentex Corp.
  72,932   2,217,862
Genuine Parts Co.
  114,525   15,206,629
Grand Canyon Education, Inc.(b)(c)
  30,991   4,237,090
Harley-Davidson, Inc.
  66,283   1,987,827
Hilton Worldwide Holdings, Inc.
  45,542   7,629,196
Hyatt Hotels Corp., Class A(c)
  69,529   7,979,148
Las Vegas Sands Corp.
  76,497   3,528,042
Lear Corp.
  43,714   5,846,748
Leggett & Platt, Inc.
  54,228   1,240,194
Lennar Corp., Class A
  327,706   41,920,152
Lennar Corp., Class B(c)
  19,590   2,247,757
Lithia Motors, Inc., Class A(c)
  4,426   1,181,698
LKQ Corp.
  205,321   9,142,944
Lowe’s Cos., Inc.
  39,377   7,829,329
lululemon athletica, inc.(b)
  24,548   10,968,046
Marriott International, Inc., Class A
  26,619   5,395,671
Marriott Vacations Worldwide Corp.
  20,373   1,485,192
McDonald’s Corp.
  7,919   2,231,891
MGM Resorts International
  574,072   22,641,400
Murphy USA, Inc.
  36,470   13,477,488
NIKE, Inc., Class B
  14,423   1,590,424
Norwegian Cruise Line Holdings Ltd.(b)(c)
  90,689   1,384,821
NVR, Inc.(b)
  4,392   27,034,473
Ollie’s Bargain Outlet Holdings, Inc.(b)
  41,529   3,042,830
O’Reilly Automotive, Inc., Class R(b)
  15,089   14,823,132
Penske Automotive Group, Inc.(c)
  48,152   7,189,094
Phinia, Inc.
  110,665   2,821,958
Planet Fitness, Inc., Class A(b)(c)
  17,366   1,179,846
Polaris, Inc.
  44,666   3,683,605
Pool Corp.(c)
  13,684   4,752,727
PulteGroup, Inc.
  530,176   46,878,162
PVH Corp.
  117,263   11,465,976
Ralph Lauren Corp.
  61,767   7,991,414
RH(b)(c)
  20,277   5,474,182
Ross Stores, Inc.
  131,811   17,185,518
Royal Caribbean Cruises Ltd.(b)(c)
  56,418   6,062,678
Service Corp. International
  31,209   1,912,175
Skechers U.S.A., Inc., Class A(b)(c)
  250,288   14,744,466
Starbucks Corp.
  79,731   7,917,288
Tapestry, Inc.
  297,036   9,407,130
Tempur Sealy International, Inc.(c)
  414,509   16,713,003
Texas Roadhouse, Inc.
  116,132   13,071,818
Thor Industries, Inc.(c)
  102,014   10,106,527
TJX Cos., Inc. (The)
  131,966   11,627,524
Toll Brothers, Inc.(c)
  274,147   23,546,486
TopBuild Corp.(b)
  45,072   13,331,396
Tractor Supply Co.(c)
  37,425   7,597,649
Travel + Leisure Co.
  41,837   1,491,071
Ulta Beauty, Inc.(b)
  27,291   11,625,693
Vail Resorts, Inc.(c)
  10,366   2,252,635
Valvoline, Inc.
  181,559   6,216,580
Wendy’s Co. (The)
  196,658   3,687,338
Williams-Sonoma, Inc.(c)
  14,684   2,753,837
Wingstop, Inc.(c)
  25,494   6,127,738
Wyndham Hotels & Resorts, Inc.
  13,943   1,078,352
Wynn Resorts Ltd.
  50,967   4,302,634
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
YETI Holdings, Inc.(b)(c)
  43,812   $1,868,144
Yum! Brands, Inc.
  57,271   7,190,374
        811,041,082
Consumer Staples-5.05%
Albertson’s Cos., Inc., Class A
  112,757   2,454,720
Altria Group, Inc.
  93,960   3,950,078
Archer-Daniels-Midland Co.
  68,460   5,047,556
BJ’s Wholesale Club Holdings, Inc.(b)(c)
  161,577   10,434,643
Boston Beer Co., Inc. (The), Class A(b)
  3,877   1,375,405
Campbell Soup Co.
  77,716   3,122,629
Casey’s General Stores, Inc.
  42,196   11,620,778
Celsius Holdings, Inc.(b)(c)
  80,916   4,006,151
Church & Dwight Co., Inc.(c)
  61,243   5,917,911
Clorox Co. (The)
  49,877   7,149,868
Colgate-Palmolive Co.
  38,379   3,023,114
Conagra Brands, Inc.
  240,580   6,806,008
Constellation Brands, Inc., Class A
  8,981   2,159,841
Costco Wholesale Corp.
  2,918   1,729,615
Coty, Inc., Class A(b)(c)
  468,075   5,336,055
Darling Ingredients, Inc.(b)
  62,140   2,726,082
Dollar General Corp.
  8,404   1,101,933
Dollar Tree, Inc.(b)(c)
  120,555   14,899,393
Estee Lauder Cos., Inc. (The), Class A
  11,196   1,429,617
Flowers Foods, Inc.
  139,509   2,903,182
General Mills, Inc.
  112,781   7,179,639
Hershey Co. (The)
  31,366   5,894,299
Ingredion, Inc.
  106,125   10,876,751
JM Smucker Co. (The)
  63,900   7,011,747
Kellanova
  42,694   2,243,143
Kimberly-Clark Corp.
  54,988   6,803,665
Kraft Heinz Co. (The)
  107,402   3,770,884
Kroger Co. (The)
  196,523   8,700,073
Lamb Weston Holdings, Inc.
  95,189   9,521,756
McCormick & Co., Inc.
  31,435   2,037,931
Molson Coors Beverage Co., Class B
  135,821   8,358,424
Mondelez International, Inc., Class A
  80,803   5,741,861
Monster Beverage Corp.(b)
  69,554   3,835,903
PepsiCo, Inc.
  8,989   1,512,759
Performance Food Group Co.(b)
  334,400   21,752,720
Philip Morris International, Inc.
  11,939   1,114,625
Post Holdings, Inc.(b)(c)
  65,116   5,562,860
Procter & Gamble Co. (The)
  7,218   1,108,107
Reynolds Consumer Products, Inc.
  42,740   1,121,498
Sysco Corp.
  27,336   1,972,839
Target Corp.
  79,751   10,671,481
US Foods Holding Corp.(b)
  562,299   24,645,565
Walgreens Boots Alliance, Inc.
  33,682   671,619
Walmart, Inc.
  7,105   1,106,177
WK Kellogg Co.
  10,673   119,538
        250,530,443
Energy-4.37%
Antero Midstream Corp.
  460,950   6,139,854
Baker Hughes Co., Class A
  70,189   2,368,879
Cheniere Energy, Inc.
  54,772   9,976,720
Chesapeake Energy Corp.(c)
  99,833   8,017,588
Chevron Corp.
  35,220   5,057,592
ConocoPhillips
  51,589   5,962,141
Coterra Energy, Inc.
  155,669   4,086,311
Devon Energy Corp.
  61,142   2,749,556
Diamondback Energy, Inc.
  56,973   8,797,201
DT Midstream, Inc.(c)
  28,969   1,659,634
  Shares   Value
Energy-(continued)
EOG Resources, Inc.
  33,415   $4,112,384
EQT Corp.
  38,360   1,532,866
Exxon Mobil Corp.
  20,043   2,059,218
Halliburton Co.
  33,902   1,255,391
Hess Corp.
  50,306   7,071,011
HF Sinclair Corp.
  37,476   1,966,740
Kinder Morgan, Inc.
  302,402   5,313,203
Marathon Oil Corp.
  60,818   1,546,602
Marathon Petroleum Corp.
  224,933   33,557,754
Occidental Petroleum Corp.
  53,860   3,185,819
ONEOK, Inc.
  277,909   19,134,035
Phillips 66
  130,500   16,820,145
Pioneer Natural Resources Co.
  25,176   5,831,769
Range Resources Corp.(c)
  213,198   6,928,935
Schlumberger N.V.
  89,965   4,681,779
Targa Resources Corp.
  186,130   16,835,458
TechnipFMC PLC (United Kingdom)(c)
  1,089,695   22,578,480
Texas Pacific Land Corp.
  694   1,160,333
Valero Energy Corp.
  23,347   2,926,780
Williams Cos., Inc. (The)
  95,844   3,526,101
        216,840,279
Financials-13.12%
Affiliated Managers Group, Inc.
  51,068   6,922,267
Aflac, Inc.
  267,127   22,094,074
Allstate Corp. (The)
  79,977   11,026,429
American Express Co.(c)
  6,916   1,181,045
American Financial Group, Inc.
  9,525   1,089,565
American International Group, Inc.
  122,041   8,031,518
Ameriprise Financial, Inc.
  58,056   20,523,376
Annaly Capital Management, Inc.(c)
  240,045   4,337,613
Aon PLC, Class A
  23,835   7,829,559
Apollo Global Management, Inc.(c)
  93,873   8,636,316
Arch Capital Group Ltd.(b)
  359,717   30,104,716
Ares Management Corp., Class A
  61,695   6,925,264
Arthur J. Gallagher & Co.
  56,955   14,181,795
Assured Guaranty Ltd.
  72,711   4,937,804
AXIS Capital Holdings Ltd.(c)
  34,235   1,928,800
Bank of New York Mellon Corp. (The)
  108,887   5,261,420
Bank OZK
  42,236   1,767,999
BlackRock, Inc.
  5,107   3,836,532
Blackstone, Inc., Class A
  14,009   1,574,191
Blue Owl Capital, Inc.(c)
  178,154   2,401,516
BOK Financial Corp.
  25,333   1,818,149
Brighthouse Financial, Inc.(b)
  21,568   1,122,183
Brown & Brown, Inc.
  143,373   10,715,698
Capital One Financial Corp.
  15,102   1,686,289
Carlyle Group, Inc. (The)(c)
  43,580   1,493,922
Cboe Global Markets, Inc.
  54,364   9,904,577
Charles Schwab Corp. (The)
  21,216   1,300,965
Chubb Ltd.
  24,210   5,554,500
Cincinnati Financial Corp.
  9,470   973,421
Citigroup, Inc.
  35,567   1,639,639
Columbia Banking System, Inc.
  91,927   2,061,923
Corebridge Financial, Inc.(c)
  136,540   2,871,436
Discover Financial Services
  129,342   12,028,806
Equitable Holdings, Inc.
  79,872   2,451,272
Euronet Worldwide, Inc.(b)
  36,626   3,194,520
Evercore, Inc., Class A
  64,193   9,471,677
Everest Group Ltd.
  65,269   26,796,188
F.N.B. Corp.
  265,658   3,185,239
FactSet Research Systems, Inc.
  11,073   5,021,163
Fidelity National Financial, Inc.(c)
  204,714   9,179,376
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Financials-(continued)
First American Financial Corp.
  93,516   $5,573,554
First Citizens BancShares, Inc., Class A
  8,816   12,940,918
First Horizon Corp.
  194,192   2,483,716
Fiserv, Inc.(b)
  52,853   6,903,130
FleetCor Technologies, Inc.(b)
  11,208   2,695,524
Franklin Resources, Inc.(c)
  144,926   3,594,165
Global Payments, Inc.
  27,258   3,173,921
Globe Life, Inc.
  69,771   8,590,903
Goldman Sachs Group, Inc. (The)
  22,030   7,524,126
Hartford Financial Services Group, Inc. (The)
  137,015   10,709,092
Houlihan Lokey, Inc.
  24,488   2,637,847
Huntington Bancshares, Inc.
  233,178   2,625,584
Interactive Brokers Group, Inc., Class A
  181,736   14,146,330
Intercontinental Exchange, Inc.
  43,836   4,990,290
Invesco Ltd.(e)
  95,093   1,356,977
Janus Henderson Group PLC
  117,653   3,081,332
Jefferies Financial Group, Inc.
  113,932   4,037,750
JPMorgan Chase & Co.
  12,846   2,005,004
Kinsale Capital Group, Inc.
  23,636   8,274,964
Loews Corp.
  60,437   4,248,117
LPL Financial Holdings, Inc.
  40,198   8,936,015
Markel Group, Inc.(b)
  2,322   3,341,567
MarketAxess Holdings, Inc.
  11,944   2,867,993
Marsh & McLennan Cos., Inc.
  30,702   6,122,593
MetLife, Inc.
  21,093   1,342,148
MGIC Investment Corp.
  709,148   12,473,913
Moody’s Corp.
  11,478   4,189,011
Morgan Stanley
  13,342   1,058,554
MSCI, Inc.
  12,976   6,758,550
Nasdaq, Inc.
  60,035   3,352,354
New York Community Bancorp, Inc.(c)
  99,444   935,768
NU Holdings Ltd., Class A (Brazil)(b)(c)
  491,543   4,001,160
Old Republic International Corp.
  458,111   13,427,233
OneMain Holdings, Inc.
  102,293   4,326,994
Primerica, Inc.
  71,811   15,045,123
Principal Financial Group, Inc.
  148,046   10,930,236
Progressive Corp. (The)
  60,773   9,968,595
Prudential Financial, Inc.
  20,194   1,974,569
Raymond James Financial, Inc.
  24,259   2,550,834
Regions Financial Corp.
  83,278   1,389,077
Reinsurance Group of America, Inc.
  119,593   19,500,835
RenaissanceRe Holdings Ltd. (Bermuda)(c)
  29,263   6,272,817
Rithm Capital Corp.
  434,090   4,505,854
RLI Corp.
  26,660   3,615,096
Rocket Cos., Inc., Class A(b)(c)
  308,096   2,877,617
Ryan Specialty Holdings, Inc., Class A(b)(c)
  146,511   6,720,460
S&P Global, Inc.
  4,558   1,895,353
SEI Investments Co.
  34,487   2,023,352
Shift4 Payments, Inc., Class A(b)(c)
  70,257   4,624,316
SLM Corp.
  222,413   3,342,867
State Street Corp.
  174,411   12,700,609
Stifel Financial Corp.
  42,946   2,620,565
Synchrony Financial
  147,386   4,769,411
T. Rowe Price Group, Inc.
  25,353   2,538,596
Toast, Inc., Class A(b)(c)
  351,188   5,222,166
TPG, Inc.(c)
  58,489   2,047,115
Tradeweb Markets, Inc., Class A
  19,663   1,905,345
Travelers Cos., Inc. (The)
  48,951   8,841,530
Unum Group
  403,128   17,334,504
UWM Holdings Corp.(c)
  228,377   1,244,655
Voya Financial, Inc.
  115,359   8,249,322
  Shares   Value
Financials-(continued)
W.R. Berkley Corp.
  24,992   $1,813,170
Wells Fargo & Co.
  59,042   2,632,683
Western Alliance Bancorporation
  118,909   6,090,519
WEX, Inc.(b)
  11,541   2,037,910
White Mountains Insurance Group Ltd.(c)
  789   1,208,685
Willis Towers Watson PLC
  37,450   9,223,935
XP, Inc., Class A (Brazil)
  49,185   1,145,519
        650,653,079
Health Care-8.25%
10X Genomics, Inc., Class A(b)(c)
  50,350   2,191,232
AbbVie, Inc.
  16,482   2,346,872
Acadia Healthcare Co., Inc.(b)
  56,380   4,115,176
Agilent Technologies, Inc.
  18,578   2,374,268
agilon health, inc.(b)(c)
  91,422   970,902
Align Technology, Inc.(b)
  26,554   5,677,245
Apellis Pharmaceuticals, Inc.(b)(c)
  18,379   990,077
Becton, Dickinson and Co.
  8,687   2,051,696
Biogen, Inc.(b)
  21,138   4,947,983
BioMarin Pharmaceutical, Inc.(b)
  42,985   3,915,074
Boston Scientific Corp.(b)
  133,561   7,464,724
Bruker Corp.
  61,809   4,023,148
Cardinal Health, Inc.
  505,538   54,133,009
Cencora, Inc.(c)
  99,440   20,223,113
Charles River Laboratories International, Inc.(b)
  27,591   5,437,634
Chemed Corp.
  8,757   4,965,219
Cigna Group (The)
  20,943   5,505,496
Cooper Cos., Inc. (The)
  17,758   5,983,025
DaVita, Inc.(b)
  132,983   13,492,455
DexCom, Inc.(b)
  46,988   5,428,054
Edwards Lifesciences Corp.(b)(c)
  63,517   4,300,736
Elevance Health, Inc.
  9,671   4,637,148
Encompass Health Corp.
  161,344   10,514,788
Envista Holdings Corp.(b)
  31,658   718,320
Exact Sciences Corp.(b)(c)
  34,061   2,179,904
Exelixis, Inc.(b)
  117,109   2,554,147
Fortrea Holdings, Inc.(b)(c)
  10,410   306,470
GE HealthCare Technologies, Inc.
  55,378   3,791,178
Gilead Sciences, Inc.
  85,552   6,553,283
Globus Medical, Inc., Class A(b)
  36,861   1,655,796
HCA Healthcare, Inc.
  63,535   15,914,247
Henry Schein, Inc.(b)
  54,481   3,635,517
Hologic, Inc.(b)
  73,075   5,210,247
Humana, Inc.
  16,274   7,890,612
ICON PLC(b)
  9,239   2,466,259
IDEXX Laboratories, Inc.(b)
  16,166   7,530,446
Inspire Medical Systems, Inc.(b)(c)
  15,060   2,188,369
Insulet Corp.(b)(c)
  13,368   2,527,755
Intuitive Surgical, Inc.(b)
  15,952   4,958,520
IQVIA Holdings, Inc.(b)(c)
  7,494   1,604,465
Karuna Therapeutics, Inc.(b)(c)
  8,864   1,694,885
Laboratory Corp. of America Holdings
  10,410   2,258,033
Masimo Corp.(b)(c)
  23,264   2,181,233
McKesson Corp.
  63,579   29,917,734
Medpace Holdings, Inc.(b)
  11,491   3,110,843
Medtronic PLC
  24,140   1,913,578
Merck & Co., Inc.
  23,658   2,424,472
Mettler-Toledo International, Inc.(b)(c)
  3,645   3,980,085
Moderna, Inc.(b)(c)
  27,350   2,125,095
Molina Healthcare, Inc.(b)
  32,401   11,844,510
Neurocrine Biosciences, Inc.(b)
  12,686   1,479,061
Novocure Ltd.(b)(c)
  32,207   395,180
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Health Care-(continued)
Penumbra, Inc.(b)(c)
  19,542   $4,340,083
Perrigo Co. PLC
  29,508   898,814
Premier, Inc., Class A
  45,407   934,930
QIAGEN N.V.(b)
  31,325   1,289,337
Quest Diagnostics, Inc.
  19,624   2,693,001
R1 RCM, Inc.(b)(c)
  98,539   1,042,543
Regeneron Pharmaceuticals, Inc.(b)
  4,609   3,796,940
Repligen Corp.(b)(c)
  17,907   2,815,876
ResMed, Inc.
  13,050   2,058,376
Sarepta Therapeutics, Inc.(b)(c)
  23,016   1,870,740
Shockwave Medical, Inc.(b)(c)
  25,533   4,456,785
STERIS PLC
  12,373   2,486,231
Stryker Corp.
  21,926   6,497,332
Teleflex, Inc.(c)
  10,732   2,422,105
Tenet Healthcare Corp.(b)
  251,248   17,338,624
Thermo Fisher Scientific, Inc.
  1,856   920,131
United Therapeutics Corp.(b)
  5,327   1,278,480
Universal Health Services, Inc., Class B
  110,198   15,150,021
Veeva Systems, Inc., Class A(b)
  9,138   1,592,845
Vertex Pharmaceuticals, Inc.(b)
  18,327   6,502,603
West Pharmaceutical Services, Inc.
  22,074   7,742,676
Zimmer Biomet Holdings, Inc.
  60,045   6,983,834
Zoetis, Inc.
  17,222   3,042,611
        408,854,236
Industrials-21.50%
A.O. Smith Corp.
  64,265   4,843,010
Acuity Brands, Inc.(c)
  15,172   2,719,733
Advanced Drainage Systems, Inc.
  85,791   10,390,148
AECOM
  115,242   10,240,404
AGCO Corp.
  68,294   7,753,418
Air Lease Corp., Class A
  153,995   5,973,466
Alaska Air Group, Inc.(b)(c)
  120,465   4,554,782
Allegion PLC
  22,203   2,355,516
Allison Transmission Holdings, Inc.
  130,690   6,989,301
American Airlines Group, Inc.(b)(c)
  715,594   8,894,833
AMETEK, Inc.
  52,604   8,165,719
Automatic Data Processing, Inc.
  7,894   1,814,988
Axon Enterprise, Inc.(b)
  33,789   7,767,077
AZEK Co., Inc. (The)(b)(c)
  119,937   4,136,627
Boeing Co. (The)(b)
  17,789   4,120,466
Booz Allen Hamilton Holding Corp.
  41,656   5,212,415
Broadridge Financial Solutions, Inc.
  18,055   3,499,420
Builders FirstSource, Inc.(b)(c)
  305,286   40,941,905
BWX Technologies, Inc.
  82,145   6,409,774
C.H. Robinson Worldwide, Inc.
  38,557   3,163,602
CACI International, Inc., Class A(b)
  34,315   11,013,399
Carlisle Cos., Inc.
  16,356   4,586,386
Carrier Global Corp.
  343,986   17,873,513
Caterpillar, Inc.
  18,884   4,734,596
Ceridian HCM Holding, Inc.(b)(c)
  101,621   7,001,687
Cintas Corp.
  11,534   6,381,186
Clean Harbors, Inc.(b)(c)
  105,535   17,060,788
CNH Industrial N.V. (United Kingdom)
  659,352   7,081,440
Copart, Inc.(b)
  218,270   10,961,519
Core & Main, Inc., Class A(b)
  86,471   3,029,079
CSX Corp.
  114,262   3,690,663
Cummins, Inc.
  32,487   7,282,286
Curtiss-Wright Corp.
  29,955   6,407,375
Deere & Co.
  5,977   2,178,079
Delta Air Lines, Inc.
  432,808   15,983,599
Donaldson Co., Inc.
  124,951   7,602,019
Dover Corp.
  40,956   5,781,349
  Shares   Value
Industrials-(continued)
Eaton Corp. PLC
  41,690   $9,492,396
EMCOR Group, Inc.
  97,292   20,676,496
Emerson Electric Co.
  52,391   4,657,560
Equifax, Inc.
  21,656   4,714,728
Esab Corp.
  76,606   5,910,153
Expeditors International of Washington, Inc.
  79,570   9,575,454
Fastenal Co.
  91,560   5,490,853
FedEx Corp.
  54,613   14,135,483
Ferguson PLC
  35,610   6,101,417
Flowserve Corp.
  136,674   5,229,147
Fortive Corp.
  82,927   5,720,304
Fortune Brands Innovations, Inc.
  142,553   9,754,902
FTI Consulting, Inc.(b)(c)
  31,735   6,996,298
Gates Industrial Corp. PLC(b)
  80,634   988,573
General Dynamics Corp.
  10,660   2,632,700
General Electric Co.
  79,501   9,683,222
Graco, Inc.(c)
  79,612   6,431,057
GXO Logistics, Inc.(b)(c)
  213,243   11,997,051
HEICO Corp.(c)
  13,311   2,276,580
HEICO Corp., Class A
  23,389   3,213,882
Hexcel Corp.
  76,270   5,286,274
Honeywell International, Inc.
  7,535   1,476,257
Howmet Aerospace, Inc.
  185,755   9,770,713
Hubbell, Inc.
  37,097   11,129,100
Huntington Ingalls Industries, Inc.
  10,797   2,559,105
IDEX Corp.
  20,354   4,104,995
Illinois Tool Works, Inc.
  26,669   6,459,499
Ingersoll Rand, Inc.
  156,362   11,168,938
ITT, Inc.
  67,600   7,319,052
J.B. Hunt Transport Services, Inc.
  19,456   3,604,613
Jacobs Solutions, Inc.
  17,434   2,217,256
Johnson Controls International PLC
  177,282   9,360,490
KBR, Inc.
  267,842   13,839,396
Kirby Corp.(b)
  43,256   3,319,898
Knight-Swift Transportation Holdings, Inc.
  174,537   9,386,600
Landstar System, Inc.
  54,751   9,452,760
Leidos Holdings, Inc.
  33,815   3,629,026
Lennox International, Inc.
  32,349   13,155,044
Lincoln Electric Holdings, Inc.(c)
  48,459   9,597,790
Lockheed Martin Corp.
  4,772   2,136,758
ManpowerGroup, Inc.
  17,105   1,269,362
Masco Corp.
  102,466   6,204,316
MasTec, Inc.(b)
  53,951   3,271,589
MDU Resources Group, Inc.
  192,383   3,682,211
Middleby Corp. (The)(b)
  24,966   3,151,458
MSA Safety, Inc.
  16,362   2,849,279
MSC Industrial Direct Co., Inc., Class A
  64,818   6,314,570
Nordson Corp.
  17,245   4,058,438
Norfolk Southern Corp.
  12,565   2,741,180
Northrop Grumman Corp.
  3,368   1,600,339
nVent Electric PLC
  172,156   9,167,307
Old Dominion Freight Line, Inc.
  24,698   9,609,004
Oshkosh Corp.
  20,395   1,984,230
Otis Worldwide Corp.
  104,069   8,928,080
Owens Corning
  209,661   28,425,838
PACCAR, Inc.
  198,076   18,187,338
Parker-Hannifin Corp.
  33,162   14,365,115
Paycom Software, Inc.
  18,072   3,282,960
Pentair PLC
  103,551   6,683,182
Quanta Services, Inc.
  63,990   12,049,957
RB Global, Inc. (Canada)
  82,616   5,260,987
RBC Bearings, Inc.(b)(c)
  16,578   4,272,814
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
Regal Rexnord Corp.
  65,296   $7,822,461
Republic Services, Inc.
  30,135   4,877,048
Robert Half, Inc.(c)
  18,085   1,482,608
Rockwell Automation, Inc.
  31,969   8,805,541
Rollins, Inc.
  52,991   2,158,853
RTX Corp.(c)
  17,402   1,417,915
Ryder System, Inc.
  19,726   2,113,444
Saia, Inc.(b)
  34,867   13,611,728
Schneider National, Inc., Class B
  78,956   1,818,357
Science Applications International Corp.
  109,341   12,837,727
Sensata Technologies Holding PLC
  21,849   710,311
SiteOne Landscape Supply, Inc.(b)(c)
  48,519   6,832,446
Snap-on, Inc.
  32,346   8,885,123
Southwest Airlines Co.(c)
  39,864   1,019,322
SS&C Technologies Holdings, Inc.
  69,147   3,890,210
Stericycle, Inc.(b)(c)
  37,276   1,750,854
Tetra Tech, Inc.
  24,112   3,813,313
Textron, Inc.
  59,805   4,584,651
Timken Co. (The)
  142,545   10,320,258
Toro Co. (The)
  82,961   6,885,763
Trane Technologies PLC
  73,970   16,673,578
TransDigm Group, Inc.
  10,401   10,014,811
Trex Co., Inc.(b)(c)
  51,630   3,628,040
Uber Technologies, Inc.(b)
  28,733   1,619,967
U-Haul Holding Co.(b)(c)
  19,608   1,110,009
U-Haul Holding Co., Series N(c)
  40,588   2,197,840
United Airlines Holdings, Inc.(b)
  638,697   25,164,662
United Parcel Service, Inc., Class B
  12,420   1,882,996
United Rentals, Inc.
  71,623   34,093,980
Valmont Industries, Inc.(c)
  24,212   5,316,229
Verisk Analytics, Inc.
  27,223   6,572,449
Vertiv Holdings Co.
  448,868   19,597,577
Vestis Corp.(b)
  185,807   3,402,126
W.W. Grainger, Inc.
  16,862   13,256,736
Wabtec Corp.
  50,804   5,921,714
Waste Management, Inc.
  30,394   5,197,070
Watsco, Inc.(c)
  30,293   11,578,893
WESCO International, Inc.
  110,063   17,153,319
WillScot Mobile Mini Holdings Corp.(b)
  200,362   8,359,103
Woodward, Inc.
  29,185   3,945,228
XPO, Inc.(b)(c)
  282,502   24,374,273
Xylem, Inc.
  82,152   8,636,640
        1,065,942,114
Information Technology-17.79%
Adobe, Inc.(b)
  11,522   7,040,057
Advanced Micro Devices, Inc.(b)
  27,537   3,336,383
Akamai Technologies, Inc.(b)
  26,925   3,110,645
Allegro MicroSystems, Inc. (Japan)(b)(c)
  143,856   3,915,760
Amdocs Ltd.
  147,620   12,366,127
Amphenol Corp., Class A
  166,588   15,157,842
Analog Devices, Inc.
  58,716   10,767,340
ANSYS, Inc.(b)
  28,532   8,370,148
Apple, Inc.
  43,972   8,352,481
Applied Materials, Inc.
  139,620   20,912,284
Arista Networks, Inc.(b)
  44,964   9,879,040
Arrow Electronics, Inc.(b)(c)
  142,217   16,861,248
Atlassian Corp., Class A(b)
  61,998   11,838,518
Autodesk, Inc.(b)
  82,421   18,003,219
Avnet, Inc.
  139,948   6,543,968
Bentley Systems, Inc., Class B
  156,123   8,127,763
Broadcom, Inc.
  6,029   5,581,226
Cadence Design Systems, Inc.(b)
  62,431   17,060,519
  Shares   Value
Information Technology-(continued)
CDW Corp.
  174,354   $36,767,772
Cirrus Logic, Inc.(b)
  71,649   5,438,876
Cisco Systems, Inc.
  27,319   1,321,693
Cloudflare, Inc., Class A(b)(c)
  134,514   10,377,755
Cognex Corp.
  75,405   2,842,769
Cognizant Technology Solutions Corp., Class A
  97,685   6,875,070
Confluent, Inc., Class A(b)(c)
  28,787   610,860
Corning, Inc.
  206,765   5,890,735
Crane NXT Co.
  118,171   6,081,080
CrowdStrike Holdings, Inc., Class A(b)
  20,025   4,745,725
Dolby Laboratories, Inc., Class A(c)
  52,607   4,531,041
DoubleVerify Holdings, Inc.(b)(c)
  120,937   4,015,108
Dropbox, Inc., Class A(b)
  393,425   11,086,716
DXC Technology Co.(b)
  148,338   3,431,058
Dynatrace, Inc.(b)
  148,163   7,934,129
Enphase Energy, Inc.(b)(c)
  9,379   947,467
Entegris, Inc.
  53,177   5,551,679
F5, Inc.(b)
  13,378   2,290,180
Fair Isaac Corp.(b)
  10,359   11,266,448
First Solar, Inc.(b)
  49,851   7,865,491
Fortinet, Inc.(b)
  234,879   12,345,240
Gartner, Inc.(b)
  51,075   22,209,453
GoDaddy, Inc., Class A(b)(c)
  96,436   9,649,386
HashiCorp, Inc., Class A(b)(c)
  48,701   1,043,175
Hewlett Packard Enterprise Co.
  1,138,162   19,246,319
HP, Inc.
  251,155   7,368,888
HubSpot, Inc.(b)
  28,654   14,153,070
International Business Machines Corp.
  21,231   3,366,387
Intuit, Inc.
  15,377   8,787,340
IPG Photonics Corp.(b)
  28,595   2,738,257
Jabil, Inc.
  319,798   36,879,105
Juniper Networks, Inc.
  72,490   2,062,341
Keysight Technologies, Inc.(b)
  42,634   5,793,534
KLA Corp.
  58,719   31,979,542
Kyndryl Holdings, Inc.(b)
  504,756   9,100,751
Lam Research Corp.
  34,079   24,397,838
Lattice Semiconductor Corp.(b)
  211,027   12,355,631
Littelfuse, Inc.
  6,595   1,535,316
Manhattan Associates, Inc.(b)
  71,707   15,994,246
Marvell Technology, Inc.
  24,923   1,388,959
Microchip Technology, Inc.
  388,625   32,426,870
Micron Technology, Inc.
  273,422   20,812,883
Microsoft Corp.
  18,424   6,981,038
MongoDB, Inc.(b)
  10,563   4,391,462
Monolithic Power Systems, Inc.
  13,721   7,528,987
Motorola Solutions, Inc.
  36,806   11,883,553
NetApp, Inc.
  130,263   11,904,736
Nutanix, Inc., Class A(b)
  66,246   2,854,540
NVIDIA Corp.
  7,218   3,375,859
Okta, Inc.(b)
  14,757   989,457
ON Semiconductor Corp.(b)
  420,091   29,965,091
Oracle Corp.
  26,118   3,035,173
Palantir Technologies, Inc., Class A(b)(c)
  394,889   7,917,524
Procore Technologies, Inc.(b)
  34,604   2,044,750
PTC, Inc.(b)(c)
  78,239   12,311,689
Pure Storage, Inc., Class A(b)(c)
  214,345   7,139,832
Qorvo, Inc.(b)
  16,644   1,606,146
Roper Technologies, Inc.
  23,893   12,860,407
Salesforce, Inc.(b)
  18,113   4,562,665
ServiceNow, Inc.(b)
  6,982   4,787,837
Skyworks Solutions, Inc.
  78,603   7,618,989
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Information Technology-(continued)
Smartsheet, Inc., Class A(b)
  82,699   $3,504,784
Snowflake, Inc., Class A(b)(c)
  69,323   13,010,541
Splunk, Inc.(b)
  29,434   4,460,428
Synopsys, Inc.(b)
  22,127   12,020,050
TD SYNNEX Corp.
  38,129   3,761,045
Teledyne Technologies, Inc.(b)
  12,849   5,177,633
Teradata Corp.(b)
  119,986   5,669,339
Teradyne, Inc.(c)
  68,390   6,307,610
Texas Instruments, Inc.
  27,753   4,238,161
Tyler Technologies, Inc.(b)
  25,140   10,278,238
Universal Display Corp.
  34,152   5,778,518
VeriSign, Inc.(b)
  72,646   15,415,481
Viasat, Inc.(b)(c)
  177,023   3,620,120
Vontier Corp.
  173,227   5,842,947
Workday, Inc., Class A(b)
  43,413   11,752,767
Zebra Technologies Corp., Class A(b)
  20,139   4,772,540
        882,100,688
Materials-6.26%
Air Products and Chemicals, Inc.
  19,239   5,205,111
Albemarle Corp.(c)
  46,141   5,595,519
Amcor PLC
  106,642   1,010,966
AptarGroup, Inc.
  35,133   4,458,026
Ardagh Group S.A., Class A(b)(d)
  16,236   76,431
Ashland, Inc.
  12,871   1,028,650
Avery Dennison Corp.
  49,471   9,622,110
Axalta Coating Systems Ltd.(b)
  200,171   6,299,381
Ball Corp.
  24,050   1,329,725
Berry Global Group, Inc.
  143,496   9,487,956
Chemours Co. (The)
  60,883   1,670,021
Cleveland-Cliffs, Inc.(b)(c)
  70,594   1,211,393
Corteva, Inc.
  53,903   2,436,416
Crown Holdings, Inc.(c)
  23,262   2,000,765
Dow, Inc.
  80,377   4,159,510
DuPont de Nemours, Inc.
  101,204   7,240,134
Eagle Materials, Inc.
  62,293   11,278,148
Eastman Chemical Co.
  32,725   2,743,337
Ecolab, Inc.
  28,153   5,397,775
Element Solutions, Inc.
  64,264   1,346,973
FMC Corp.
  25,452   1,365,754
Freeport-McMoRan, Inc.
  56,181   2,096,675
Graphic Packaging Holding Co.
  570,676   12,937,225
Linde PLC
  8,156   3,374,708
Louisiana-Pacific Corp.
  110,354   6,730,491
LyondellBasell Industries N.V., Class A
  80,454   7,651,175
Martin Marietta Materials, Inc.
  16,508   7,669,452
NewMarket Corp.
  11,142   5,910,942
Nucor Corp.
  176,327   29,970,300
Olin Corp.
  114,868   5,414,878
Packaging Corp. of America
  12,736   2,139,775
PPG Industries, Inc.
  57,724   8,196,231
Reliance Steel & Aluminum Co.
  128,693   35,424,035
Royal Gold, Inc.
  19,968   2,432,102
RPM International, Inc.(c)
  47,718   4,911,614
Sherwin-Williams Co. (The)
  15,815   4,409,222
Silgan Holdings, Inc.
  150,550   6,280,946
Sonoco Products Co.
  91,927   5,070,693
Southern Copper Corp. (Mexico)(c)
  17,237   1,239,857
Steel Dynamics, Inc.
  367,293   43,755,615
United States Steel Corp.
  477,769   17,151,907
  Shares   Value
Materials-(continued)
Vulcan Materials Co.
  41,300   $8,820,028
Westlake Corp.
  30,683   3,939,390
        310,491,362
Real Estate-2.26%
American Homes 4 Rent, Class A
  45,171   1,638,352
AvalonBay Communities, Inc.(c)
  5,891   1,018,790
Brixmor Property Group, Inc.
  138,509   2,980,714
CBRE Group, Inc., Class A(b)
  63,043   4,977,875
CoStar Group, Inc.(b)(c)
  45,116   3,746,433
CubeSmart
  73,551   2,924,388
EastGroup Properties, Inc.
  11,681   2,029,574
EPR Properties
  23,429   1,045,402
Equinix, Inc.
  3,128   2,549,351
Extra Space Storage, Inc.(c)
  36,657   4,771,642
Federal Realty Investment Trust
  11,486   1,097,947
First Industrial Realty Trust, Inc.
  55,782   2,624,543
Gaming and Leisure Properties, Inc.
  92,639   4,329,020
Host Hotels & Resorts, Inc.(c)
  343,237   5,996,350
Howard Hughes Holdings, Inc.(b)(c)
  24,646   1,811,727
Invitation Homes, Inc.
  61,344   2,046,436
Iron Mountain, Inc.
  143,029   9,175,310
Kimco Realty Corp.
  73,033   1,410,998
Lamar Advertising Co., Class A(c)
  31,247   3,165,009
Mid-America Apartment Communities, Inc.
  6,045   752,482
NNN REIT, Inc.
  49,111   1,994,889
Omega Healthcare Investors, Inc.(c)
  119,926   3,807,650
Park Hotels & Resorts, Inc.(c)
  101,261   1,501,701
Prologis, Inc.
  18,387   2,113,218
Public Storage
  6,019   1,557,476
Regency Centers Corp.
  26,571   1,668,127
Simon Property Group, Inc.
  72,401   9,042,161
Spirit Realty Capital, Inc.
  62,018   2,561,343
STAG Industrial, Inc.
  86,288   3,093,425
VICI Properties, Inc.
  152,959   4,571,945
Welltower, Inc.
  12,853   1,145,202
Weyerhaeuser Co.
  73,944   2,318,144
Zillow Group, Inc., Class A(b)
  104,485   4,115,664
Zillow Group, Inc., Class C(b)(c)
  310,803   12,724,275
        112,307,563
Utilities-2.74%
AES Corp. (The)(c)
  203,640   3,504,644
Alliant Energy Corp.
  22,818   1,153,906
Ameren Corp.
  37,527   2,911,720
American Electric Power Co., Inc.
  29,378   2,337,020
American Water Works Co., Inc.
  17,056   2,248,663
Atmos Energy Corp.
  40,908   4,655,739
Brookfield Renewable Corp., Class A
  42,055   1,116,140
CenterPoint Energy, Inc.
  137,560   3,888,821
CMS Energy Corp.
  25,476   1,446,018
Consolidated Edison, Inc.
  70,620   6,363,568
Constellation Energy Corp.
  68,013   8,232,294
DTE Energy Co.
  14,423   1,501,579
Duke Energy Corp.
  13,354   1,232,307
Edison International
  128,513   8,609,086
Entergy Corp.
  29,354   2,976,789
Essential Utilities, Inc.
  23,349   831,458
Evergy, Inc.
  42,382   2,163,177
Eversource Energy
  22,823   1,355,914
Exelon Corp.
  59,602   2,295,273
FirstEnergy Corp.
  125,507   4,636,229
IDACORP, Inc.(c)
  22,648   2,185,532
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Utilities-(continued)
NextEra Energy, Inc.
  22,378   $1,309,337
NiSource, Inc.(c)
  152,618   3,913,126
NRG Energy, Inc.
  131,666   6,298,901
OGE Energy Corp.(c)
  101,790   3,567,739
PG&E Corp.(b)
  1,686,219   28,952,380
Pinnacle West Capital Corp.
  108,604   8,138,784
PPL Corp.
  144,152   3,765,250
Public Service Enterprise Group, Inc.
  42,653   2,662,827
Sempra
  33,962   2,474,811
Southern Co. (The)
  56,440   4,006,111
WEC Energy Group, Inc.
  25,206   2,107,726
Xcel Energy, Inc.
  49,512   3,012,310
        135,855,179
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $4,889,234,003)
  4,952,721,043
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-7.69%
Invesco Private Government Fund, 5.32%(e)(f)(g)
  104,421,600   $104,421,600
Invesco Private Prime Fund, 5.55%(e)(f)(g)
  276,691,005   276,801,681
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $381,165,460)
  381,223,281
TOTAL INVESTMENTS IN SECURITIES-107.57%

(Cost $5,270,399,463)
  5,333,944,324
OTHER ASSETS LESS LIABILITIES-(7.57)%
  (375,541,931)
NET ASSETS-100.00%
  $4,958,402,393
 
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, 2023.
(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, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
November 30, 2023 		  Dividend
Income
Invesco Ltd. $11,736,606   $3,901,626   $(13,661,342)   $610,121   $(1,230,034)   $1,356,977   $19,170
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class -   36,356,081   (36,356,081)   -   -   -   15,533
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 125,506,582   340,823,962   (361,908,944)   -   -   104,421,600   1,464,099*
Invesco Private Prime Fund 322,731,213   711,826,667   (757,872,614)   66,631   49,784   276,801,681   3,938,517*
Total $459,974,401   $1,092,908,336   $(1,169,798,981)   $676,752   $(1,180,250)   $382,580,258   $5,437,319
    
* 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, 2023.
(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, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.95%
Communication Services-2.16%
Atlanta Braves Holdings, Inc., Class H(b)(c)
  2,252   $90,868
Atlanta Braves Holdings, Inc., Series C(b)
  8,945   321,573
ATN International, Inc.
  3,245   98,778
Boston Omaha Corp., Class A(b)(c)
  4,831   70,050
Cargurus, Inc.(b)
  5,760   124,531
Cars.com, Inc.(b)
  49,055   913,404
Cinemark Holdings, Inc.(b)(c)
  12,628   179,949
Cogent Communications Holdings, Inc.
  3,134   200,137
DHI Group, Inc.(b)
  20,156   49,584
Entravision Communications Corp., Class A
  41,214   163,620
EverQuote, Inc., Class A(b)(c)
  17,463   183,012
IDT Corp., Class B(b)
  14,594   428,334
IMAX Corp.(b)(c)
  11,263   179,645
Integral Ad Science Holding Corp.(b)(c)
  4,622   67,435
John Wiley & Sons, Inc., Class A
  2,965   89,573
Liberty Latin America Ltd., Class A(b)
  24,918   168,695
Liberty Latin America Ltd., Class C(b)
  41,645   284,435
Madison Square Garden Entertainment Corp.(b)(c)
  5,880   178,047
Marcus Corp. (The)(c)
  18,654   259,477
Ooma, Inc.(b)(c)
  11,992   139,107
Outbrain, Inc.(b)(c)
  18,577   70,778
Playstudios, Inc.(b)
  17,686   42,270
Scholastic Corp.
  19,912   756,457
Shenandoah Telecommunications Co.
  5,829   129,812
Shutterstock, Inc.
  2,875   126,241
Sinclair, Inc.
  7,629   96,202
Sphere Entertainment Co.(b)(c)
  9,298   318,178
Spok Holdings, Inc.(c)
  34,057   570,795
Stagwell, Inc.(b)(c)
  24,957   125,284
TEGNA, Inc.
  9,298   142,538
Thryv Holdings, Inc.(b)(c)
  10,622   188,965
Tingo Group, Inc.(b)
  134,060   92,501
Yelp, Inc.(b)
  7,593   331,890
Ziff Davis, Inc.(b)(c)
  1,171   74,733
ZipRecruiter, Inc., Class A(b)(c)
  28,908   387,656
        7,644,554
Consumer Discretionary-19.08%
Abercrombie & Fitch Co., Class A(b)
  8,424   639,297
Academy Sports & Outdoors, Inc.(c)
  10,447   531,439
Accel Entertainment, Inc.(b)
  19,683   199,586
Acushnet Holdings Corp.
  1,801   101,757
Adient PLC(b)(c)
  14,508   467,158
Adtalem Global Education, Inc.(b)
  10,321   587,987
American Axle & Manufacturing Holdings, Inc.(b)
  25,940   180,542
American Eagle Outfitters, Inc.(c)
  27,979   532,440
America’s Car-Mart, Inc.(b)(c)
  5,778   461,489
Arko Corp.
  37,089   277,426
Asbury Automotive Group, Inc.(b)
  1,772   371,801
Beazer Homes USA, Inc.(b)
  71,445   1,879,718
Biglari Holdings, Inc., Class B(b)
  1,040   151,653
BJ’s Restaurants, Inc.(b)(c)
  18,791   562,415
Bloomin’ Brands, Inc.(c)
  43,287   1,010,319
Bluegreen Vacations Holding Corp.
  8,044   599,439
Boot Barn Holdings, Inc.(b)(c)
  1,074   78,703
Bowlero Corp.(b)(c)
  8,908   91,574
Brinker International, Inc.(b)(c)
  34,626   1,246,882
Buckle, Inc. (The)(c)
  12,290   473,902
Build-A-Bear Workshop, Inc.(c)
  10,698   261,352
Caleres, Inc.(c)
  20,846   632,885
Camping World Holdings, Inc., Class A(c)
  19,037   402,442
  Shares   Value
Consumer Discretionary-(continued)
Carriage Services, Inc.
  9,856   $222,647
Carrols Restaurant Group, Inc.
  92,857   701,070
Cavco Industries, Inc.(b)(c)
  3,253   919,883
Century Casinos, Inc.(b)(c)
  18,535   79,701
Century Communities, Inc.
  17,925   1,293,109
Cheesecake Factory, Inc. (The)
  20,598   645,747
Chegg, Inc.(b)(c)
  29,130   289,261
Chico’s FAS, Inc.(b)
  48,315   364,295
Chuy’s Holdings, Inc.(b)(c)
  21,106   742,931
Cooper-Standard Holdings, Inc.(b)(c)
  19,377   343,748
Cracker Barrel Old Country Store, Inc.(c)
  7,885   529,320
Cricut, Inc., Class A
  108,376   747,794
Dana, Inc.
  29,155   385,138
Dave & Buster’s Entertainment, Inc.(b)(c)
  13,280   545,011
Denny’s Corp.(b)
  49,592   470,628
Destination XL Group, Inc.(b)
  23,477   88,743
Dine Brands Global, Inc.(c)
  5,492   238,737
Dorman Products, Inc.(b)
  989   71,248
Dream Finders Homes, Inc., Class A(b)(c)
  36,699   893,254
Duolingo, Inc.(b)(c)
  1,028   218,234
El Pollo Loco Holdings, Inc.(b)
  15,405   128,016
Escalade, Inc.(c)
  15,995   297,507
Ethan Allen Interiors, Inc.
  27,617   741,240
Everi Holdings, Inc.(b)(c)
  17,880   186,846
Figs, Inc., Class A(b)(c)
  23,598   171,321
First Watch Restaurant Group, Inc.(b)(c)
  7,506   135,708
Foot Locker, Inc.(c)
  22,225   598,519
Fox Factory Holding Corp.(b)
  3,255   203,470
Frontdoor, Inc.(b)
  11,583   397,644
Full House Resorts, Inc.(b)(c)
  28,463   142,884
Funko, Inc., Class A(b)(c)
  37,572   243,467
Gentherm, Inc.(b)
  2,896   132,984
G-III Apparel Group Ltd.(b)
  42,280   1,216,396
Golden Entertainment, Inc.
  3,554   126,665
Goodyear Tire & Rubber Co. (The)(b)
  30,980   430,312
Graham Holdings Co., Class B
  559   350,577
Green Brick Partners, Inc.(b)
  10,642   504,963
Group 1 Automotive, Inc.
  3,178   896,514
Guess?, Inc.
  10,251   225,727
Haverty Furniture Cos., Inc., (Acquired 04/25/2023 - 11/15/2023; Cost $442,024)(d)
  14,981   469,505
Hibbett, Inc.
  7,891   493,582
Hilton Grand Vacations, Inc.(b)
  3,349   114,737
Hooker Furnishings Corp.(c)
  10,914   195,142
Hovnanian Enterprises, Inc., Class A(b)
  14,969   1,353,198
Inspired Entertainment, Inc.(b)(c)
  23,518   184,851
Installed Building Products, Inc.(c)
  4,355   655,471
International Game Technology PLC(c)
  4,616   123,386
J Jill, Inc.(b)
  4,305   127,041
Jack in the Box, Inc.
  10,530   761,319
JAKKS Pacific, Inc.(b)
  23,744   699,023
KB Home
  16,829   876,791
Kontoor Brands, Inc.
  10,686   587,409
Krispy Kreme, Inc.(c)
  10,918   141,934
Kura Sushi USA, Inc., Class A(b)(c)
  3,153   196,999
Lands’ End, Inc.(b)(c)
  21,533   152,023
Laureate Education, Inc., Class A
  19,248   252,726
La-Z-Boy, Inc.(c)
  20,172   709,853
LCI Industries
  3,173   344,302
Legacy Housing Corp.(b)(c)
  6,216   139,238
LGI Homes, Inc.(b)(c)
  4,025   475,232
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Consumer Discretionary-(continued)
Light & Wonder, Inc.(b)
  5,895   $521,236
Lovesac Co. (The)(b)(c)
  6,024   125,058
M.D.C. Holdings, Inc.
  19,308   854,572
M/I Homes, Inc.(b)
  18,635   1,966,179
Malibu Boats, Inc., Class A(b)(c)
  6,261   276,987
Marine Products Corp.(c)
  11,881   113,582
MarineMax, Inc.(b)
  3,154   94,084
MasterCraft Boat Holdings, Inc.(b)(c)
  26,542   530,840
Meritage Homes Corp.
  5,846   826,040
Modine Manufacturing Co.(b)
  45,652   2,246,078
Monarch Casino & Resort, Inc.
  3,262   205,115
Monro, Inc.(c)
  9,805   283,561
Movado Group, Inc.
  6,777   177,219
Nathan’s Famous, Inc.
  2,936   198,004
National Vision Holdings, Inc.(b)(c)
  28,386   523,722
ODP Corp. (The)(b)
  13,868   631,687
ONE Group Hospitality, Inc. (The)(b)(c)
  16,083   76,877
OneSpaWorld Holdings Ltd. (Bahamas)(b)(c)
  29,218   352,077
OneWater Marine, Inc., Class A(b)(c)
  5,392   144,775
Oxford Industries, Inc.(c)
  6,038   546,016
Papa John’s International, Inc.(c)
  1,586   103,471
Patrick Industries, Inc.
  15,606   1,280,316
Perdoceo Education Corp.
  31,149   542,616
PlayAGS, Inc.(b)(c)
  96,436   737,735
Portillo’s, Inc., Class A(b)(c)
  24,991   388,360
Potbelly Corp.(b)(c)
  57,822   520,398
RCI Hospitality Holdings, Inc.(c)
  8,406   492,676
Red Robin Gourmet Burgers, Inc.(b)(c)
  43,723   387,386
Red Rock Resorts, Inc., Class A(c)
  9,820   437,285
Rocky Brands, Inc.
  3,671   105,982
Sally Beauty Holdings, Inc.(b)
  18,057   174,611
SeaWorld Entertainment, Inc.(b)(c)
  3,790   185,331
Shake Shack, Inc., Class A(b)(c)
  5,755   348,523
Shoe Carnival, Inc.(c)
  4,128   100,269
Signet Jewelers Ltd.(c)
  5,298   435,390
Six Flags Entertainment Corp.(b)(c)
  9,354   232,915
Skyline Champion Corp.(b)
  9,467   569,819
Smith & Wesson Brands, Inc.(c)
  52,828   726,385
Sonic Automotive, Inc., Class A
  13,524   693,375
Sonos, Inc.(b)(c)
  25,674   387,677
Standard Motor Products, Inc.
  6,898   248,121
Steven Madden Ltd.(c)
  4,610   174,811
Stoneridge, Inc.(b)
  17,759   284,144
Strategic Education, Inc.
  5,252   467,270
Stride, Inc.(b)(c)
  14,468   876,471
Sturm Ruger & Co., Inc.
  2,946   129,506
Super Group (SGHC) Ltd. (Guernsey)(b)
  25,089   76,271
Target Hospitality Corp.(b)(c)
  15,654   170,785
Taylor Morrison Home Corp., Class A(b)
  16,395   739,414
Tile Shop Holdings, Inc.(b)(c)
  35,305   238,309
Tilly’s, Inc., Class A(b)(c)
  14,024   115,978
Tri Pointe Homes, Inc.(b)
  33,576   979,748
Universal Technical Institute, Inc.(b)
  19,251   224,659
Upbound Group, Inc.(c)
  47,800   1,390,980
Urban Outfitters, Inc.(b)
  8,527   304,414
Vista Outdoor, Inc.(b)
  4,689   132,277
Visteon Corp.(b)
  2,793   331,445
VOXX International Corp.(b)(c)
  22,565   242,348
Winmark Corp.
  1,682   723,260
Winnebago Industries, Inc.(c)
  16,449   1,063,099
Wolverine World Wide, Inc.
  9,352   80,147
Worthington Enterprises, Inc.
  7,563   542,267
  Shares   Value
Consumer Discretionary-(continued)
XPEL, Inc.(b)(c)(e)
  6,145   $280,827
Xponential Fitness, Inc., Class A(b)(c)
  19,458   265,796
        67,343,803
Consumer Staples-3.42%
Andersons, Inc. (The)
  15,547   775,173
Beauty Health Co. (The)(b)(c)
  15,376   39,363
BellRing Brands, Inc.(b)
  7,026   371,675
Calavo Growers, Inc.
  24,193   524,746
Cal-Maine Foods, Inc.
  8,110   388,631
Central Garden & Pet Co., Class A(b)
  4,125   149,655
Chefs’ Warehouse, Inc. (The)(b)
  8,980   241,562
Coca-Cola Consolidated, Inc.
  184   135,152
Dole PLC
  77,678   894,074
e.l.f. Beauty, Inc.(b)
  2,139   252,595
Edgewell Personal Care Co.
  15,036   523,403
Energizer Holdings, Inc.
  12,951   399,409
Fresh Del Monte Produce, Inc.
  16,662   379,894
Ingles Markets, Inc., Class A
  4,161   339,621
Inter Parfums, Inc.
  1,679   210,144
J&J Snack Foods Corp.
  1,083   178,208
John B. Sanfilippo & Son, Inc.
  6,281   578,103
Lancaster Colony Corp.
  731   121,273
Limoneira Co.(c)
  13,600   206,720
MGP Ingredients, Inc.
  1,348   115,187
Mission Produce, Inc.(b)(c)
  6,489   54,897
Nu Skin Enterprises, Inc., Class A
  4,345   73,952
Oil-Dri Corp.of America(c)
  8,079   458,564
PriceSmart, Inc.
  2,343   157,895
Primo Water Corp.
  22,364   321,371
Seneca Foods Corp., Class A(b)
  5,356   261,748
Simply Good Foods Co. (The)(b)(c)
  2,679   103,784
Sovos Brands, Inc.(b)(c)
  5,466   119,760
SpartanNash Co.
  14,258   316,100
Sprouts Farmers Market, Inc.(b)(c)
  10,682   460,181
SunOpta, Inc. (Canada)(b)(c)
  25,283   124,898
TreeHouse Foods, Inc.(b)
  5,459   222,236
Turning Point Brands, Inc.(c)
  3,368   76,891
United Natural Foods, Inc.(b)
  18,060   262,773
Universal Corp.
  5,769   324,564
USANA Health Sciences, Inc.(b)
  1,454   68,716
Utz Brands, Inc.(c)
  21,688   286,498
Vector Group Ltd.
  28,982   310,397
Village Super Market, Inc., Class A
  5,919   148,922
Vita Coco Co., Inc. (The)(b)(c)
  10,158   285,033
Vital Farms, Inc.(b)
  19,395   258,341
WD-40 Co.(c)
  1,565   378,542
Weis Markets, Inc.
  2,667   160,953
        12,061,604
Energy-8.42%
Archrock, Inc.
  44,946   651,267
Ardmore Shipping Corp. (Ireland)
  95,489   1,298,650
Atlas Energy Solutions, Inc.
  6,341   108,177
Berry Corp.
  38,920   279,446
Borr Drilling Ltd. (Mexico)(b)(c)
  26,803   168,859
Bristow Group, Inc.(b)
  6,171   158,903
Cactus, Inc., Class A
  3,134   133,164
California Resources Corp.
  7,403   379,108
Callon Petroleum Co.(b)(c)
  2,499   78,144
Centrus Energy Corp., Class A(b)(c)
  4,128   206,483
ChampionX Corp.
  7,411   217,290
Chord Energy Corp.
  2,316   375,516
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Energy-(continued)
Civitas Resources, Inc.(c)
  3,288   $225,853
CNX Resources Corp.(b)(c)
  13,802   287,910
CONSOL Energy, Inc.
  15,179   1,619,144
Core Laboratories, Inc.(c)
  8,650   153,191
Crescent Energy Co., Class A(c)
  29,260   333,564
Delek US Holdings, Inc.
  7,498   203,496
DHT Holdings, Inc.
  77,208   768,992
Diamond Offshore Drilling, Inc.(b)
  14,142   182,007
DMC Global, Inc.(b)
  6,516   103,930
Dorian LPG Ltd.
  39,233   1,661,910
Dril-Quip, Inc.(b)(c)
  5,721   127,121
Energy Fuels, Inc.(b)(c)
  13,203   104,964
Equitrans Midstream Corp.(c)
  17,270   161,993
Evolution Petroleum Corp.(c)
  32,270   191,361
Expro Group Holdings N.V.(b)
  20,912   325,182
FLEX LNG Ltd. (Norway)(c)
  11,982   347,718
Forum Energy Technologies, Inc.(b)
  5,112   111,288
FutureFuel Corp.
  29,772   176,846
Golar LNG Ltd. (Cameroon)
  7,448   160,355
Green Plains, Inc.(b)
  4,238   105,441
Gulfport Energy Corp.(b)
  1,786   244,753
Hallador Energy Co.(b)(c)
  18,782   237,217
Helix Energy Solutions Group, Inc.(b)
  69,090   643,919
International Seaways, Inc.(c)
  27,107   1,237,163
Kosmos Energy Ltd. (Ghana)(b)(c)
  21,721   147,486
Liberty Energy, Inc., Class A
  18,761   372,406
Mammoth Energy Services, Inc.(b)(c)
  67,962   300,392
Matador Resources Co.
  1,803   104,358
Murphy Oil Corp.
  3,207   137,163
Newpark Resources, Inc.(b)
  37,646   261,640
Nordic American Tankers Ltd.(c)
  207,462   804,953
Northern Oil and Gas, Inc.(c)
  13,243   495,553
Oceaneering International, Inc.(b)
  52,999   1,094,959
Oil States International, Inc.(b)
  23,887   164,581
Overseas Shipholding Group, Inc., Class A(b)(c)
  176,689   856,942
Par Pacific Holdings, Inc.(b)
  39,817   1,364,529
Patterson-UTI Energy, Inc.
  16,064   188,109
PBF Energy, Inc., Class A
  4,124   183,106
Peabody Energy Corp.
  3,957   94,335
Permian Resources Corp.(c)
  42,010   552,011
Ranger Energy Services, Inc.(c)
  18,156   177,021
REX American Resources Corp.(b)
  7,770   380,885
Riley Exploration Permian, Inc.(c)
  11,853   292,769
SandRidge Energy, Inc.(c)
  6,255   86,382
Scorpio Tankers, Inc. (Monaco)
  18,282   1,003,499
Seadrill Ltd. (Bermuda)(b)
  11,442   507,796
Select Water Solutions, Inc., Class A
  45,146   336,789
SFL Corp. Ltd. (Norway)
  32,860   373,290
Sitio Royalties Corp., Class A(c)
  7,185   158,286
Solaris Oilfield Infrastructure, Inc., Class A
  12,224   104,637
Teekay Corp. (Bermuda)(b)
  165,975   1,145,227
Teekay Tankers Ltd., Class A (Canada)
  29,181   1,450,004
Tidewater, Inc.(b)
  10,918   655,953
US Silica Holdings, Inc.(b)
  15,036   169,606
Valaris Ltd.(b)
  1,641   112,573
Vertex Energy, Inc.(b)
  54,193   183,172
Vitesse Energy, Inc.(c)
  11,697   276,400
Weatherford International PLC(b)(c)
  9,159   830,630
World Kinect Corp.
  26,979   567,638
        29,705,405
Financials-14.29%
1st Source Corp.
  3,065   148,131
  Shares   Value
Financials-(continued)
A-Mark Precious Metals, Inc.(c)
  30,663   $878,802
Ambac Financial Group, Inc.(b)
  38,011   560,662
American Equity Investment Life Holding Co.(b)
  19,874   1,096,250
Ameris Bancorp
  2,628   111,900
AMERISAFE, Inc.
  6,453   310,776
Apollo Commercial Real Estate Finance, Inc.(c)
  42,355   456,587
Arbor Realty Trust, Inc.(c)
  29,881   372,915
Ares Commercial Real Estate Corp.(c)
  10,330   103,817
Artisan Partners Asset Management, Inc., Class A(c)
  5,417   203,950
AssetMark Financial Holdings, Inc.(b)
  4,658   119,431
Associated Banc-Corp
  7,655   135,800
Atlantic Union Bankshares Corp.(c)
  3,031   92,658
Atlanticus Holdings Corp.(b)(c)
  2,042   63,037
AvidXchange Holdings, Inc.(b)(c)
  17,600   187,792
Axos Financial, Inc.(b)(c)
  4,599   176,004
Banco Latinoamericano de Comercio Exterior S.A., Class E (Panama)
  43,000   1,047,910
Bancorp, Inc. (The)(b)
  18,718   730,189
Bank First Corp.(c)
  1,406   113,549
Bank of NT Butterfield & Son Ltd. (The) (Bermuda)
  2,903   80,500
Banner Corp.
  2,840   128,198
Bar Harbor Bankshares
  7,296   189,477
Berkshire Hills Bancorp, Inc.
  4,158   87,027
BGC Group, Inc., Class A
  178,087   1,157,565
Brightsphere Investment Group, Inc.
  17,114   298,639
BrightSpire Capital, Inc.(c)
  26,038   176,798
BRP Group, Inc., Class A(b)(c)
  5,705   99,780
C&F Financial Corp.
  3,330   194,272
Cadence Bank(c)
  3,807   95,365
Cantaloupe, Inc.(b)
  12,567   88,849
Capital City Bank Group, Inc.
  7,892   211,032
Carter Bankshares, Inc.(b)(c)
  14,211   178,064
Cass Information Systems, Inc.
  10,503   434,299
Cathay General Bancorp
  2,577   94,524
Central Valley Community Bancorp(c)
  5,394   92,831
Chicago Atlantic Real Estate Finance, Inc.
  6,964   107,803
ChoiceOne Financial Services, Inc.(c)
  5,953   148,885
Citizens Financial Services, Inc.
  2,647   150,720
City Holding Co.(c)
  3,697   355,910
CNO Financial Group, Inc.
  26,267   696,076
Coastal Financial Corp.(b)
  3,683   143,895
Community Trust Bancorp, Inc.(c)
  3,422   136,161
Compass Diversified Holdings
  4,888   98,591
Consumer Portfolio Services, Inc.(b)(c)
  6,100   57,828
Crawford & Co., Class A(c)
  8,674   96,975
Diamond Hill Investment Group, Inc.
  941   151,115
Donegal Group, Inc., Class A
  7,075   100,677
Donnelley Financial Solutions, Inc.(b)
  19,076   1,125,866
Dynex Capital, Inc.
  9,757   111,620
Ellington Financial, Inc.
  12,732   165,516
Employers Holdings, Inc.
  5,204   199,365
Encore Capital Group, Inc.(b)(c)
  5,993   268,486
Enova International, Inc.(b)
  30,883   1,272,380
Enstar Group Ltd.(b)(c)
  358   98,321
Enterprise Bancorp, Inc.
  3,007   81,279
Enterprise Financial Services Corp.
  3,679   144,254
Esquire Financial Holdings, Inc.
  5,347   249,010
Essent Group Ltd.
  4,995   241,458
EVERTEC, Inc.
  6,967   257,570
Farmers National Banc Corp.(c)
  7,070   87,032
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Financials-(continued)
Federal Agricultural Mortgage Corp., Class C
  10,030   $1,663,375
Fidelity D&D Bancorp, Inc.(c)
  3,040   157,563
First Bancorp
  12,696   190,440
First Bancorp(c)
  4,845   151,842
First Bancorp, Inc. (The)
  2,876   71,871
First Bancshares, Inc. (The)(c)
  4,511   115,707
First Busey Corp.
  5,044   109,455
First Commonwealth Financial Corp.
  19,623   262,360
First Community Bankshares, Inc.(c)
  4,269   139,426
First Financial Bancorp
  10,578   213,781
FirstCash Holdings, Inc.
  2,894   324,128
Flywire Corp.(b)(c)
  11,121   259,119
Franklin BSP Realty Trust, Inc.(c)
  17,902   234,158
FS Bancorp, Inc.
  4,978   151,082
Fulton Financial Corp.
  7,824   111,336
GCM Grosvenor, Inc., Class A
  52,237   421,553
Genworth Financial, Inc., Class A(b)
  233,359   1,374,485
Goosehead Insurance, Inc., Class A(b)(c)
  7,522   551,212
Great Southern Bancorp, Inc.(c)
  1,675   85,107
Green Dot Corp., Class A(b)
  4,808   38,560
Greenlight Capital Re Ltd., Class A(b)(c)
  32,360   358,549
Hamilton Lane, Inc., Class A
  2,262   221,337
Hancock Whitney Corp.
  1,848   76,230
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(c)
  3,084   74,664
HBT Financial, Inc.
  5,051   94,706
Hilltop Holdings, Inc.
  14,493   426,819
Home Bancorp, Inc.
  2,914   106,215
Home BancShares, Inc.(c)
  5,868   130,152
Horace Mann Educators Corp.
  8,122   271,762
I3 Verticals, Inc., Class A(b)(c)
  5,039   101,435
Independent Bank Corporation
  7,862   169,976
International Bancshares Corp.(c)
  5,097   228,702
International Money Express, Inc.(b)
  16,535   344,755
Jackson Financial, Inc., Class A
  25,117   1,198,834
James River Group Holdings Ltd.
  8,878   79,724
Kingsway Financial Services, Inc. (Canada)(b)
  10,452   76,509
Ladder Capital Corp.
  24,099   270,150
Lakeland Bancorp, Inc.
  9,749   120,790
LCNB Corp.(c)
  7,467   108,720
LendingClub Corp.(b)(c)
  8,246   51,950
Macatawa Bank Corp.
  12,438   120,773
Mercantile Bank Corp.
  3,791   130,372
Merchants Bancorp(c)
  6,207   208,866
MFA Financial, Inc.
  29,122   314,518
Midland States Bancorp, Inc.
  7,240   163,479
Moelis & Co., Class A(c)
  3,696   175,375
Mr. Cooper Group, Inc.(b)
  13,810   835,781
National Bank Holdings Corp., Class A
  2,767   91,339
National Western Life Group, Inc., Class A
  1,229   589,465
Navient Corp.
  35,416   606,676
NBT Bancorp, Inc.
  7,210   256,171
Nelnet, Inc., Class A
  2,619   219,734
New York Mortgage Trust, Inc.(c)
  12,481   109,708
Nicolet Bankshares, Inc.
  1,201   88,466
NMI Holdings, Inc., Class A(b)
  31,923   877,883
Northeast Bank
  2,765   141,762
Northeast Community Bancorp, Inc.
  9,724   163,071
Northfield Bancorp, Inc.
  9,665   92,204
Northrim BanCorp, Inc.(c)
  5,283   260,822
Northwest Bancshares, Inc.
  14,475   161,252
Norwood Financial Corp.(c)
  5,723   158,584
  Shares   Value
Financials-(continued)
Oak Valley Bancorp
  8,087   $211,152
OceanFirst Financial Corp.
  7,794   108,025
Ocwen Financial Corp.(b)(c)
  15,346   396,387
OFG Bancorp
  8,518   285,864
Old National Bancorp
  6,822   101,580
Old Second Bancorp, Inc.(c)
  9,007   126,909
Open Lending Corp., Class A(b)
  20,610   131,698
Orchid Island Capital, Inc.
  9,071   66,853
P10, Inc., Class A
  13,300   135,660
Pagseguro Digital Ltd., Class A (Brazil)(b)(c)
  21,888   220,631
Palomar Holdings, Inc.(b)
  5,895   344,916
Park National Corp.
  1,050   116,550
Pathward Financial, Inc.
  19,639   973,898
Patria Investments Ltd., Class A (Cayman Islands)
  28,378   401,832
Payoneer Global, Inc.(b)(c)
  21,679   112,297
Paysign, Inc.(b)
  71,462   167,936
Peapack-Gladstone Financial Corp.(c)
  4,974   123,554
Penns Woods Bancorp, Inc.
  4,728   96,498
PennyMac Financial Services, Inc.
  7,611   592,060
PennyMac Mortgage Investment Trust(c)
  37,820   530,993
Peoples Bancorp, Inc.(c)
  7,723   227,288
Perella Weinberg Partners
  29,288   343,255
Piper Sandler Cos.
  1,798   278,205
PJT Partners, Inc., Class A
  2,699   243,072
Plumas Bancorp
  6,106   205,101
PRA Group, Inc.(b)
  5,711   105,825
PROG Holdings, Inc.(b)
  37,307   1,016,989
Provident Financial Services, Inc.
  5,709   86,891
Radian Group, Inc.
  16,572   426,066
Ready Capital Corp.(c)
  36,506   373,091
Remitly Global, Inc.(b)
  8,315   179,105
Renasant Corp.
  7,629   207,814
Republic Bancorp, Inc., Class A(c)
  1,768   83,008
S&T Bancorp, Inc.
  10,898   305,035
Safety Insurance Group, Inc.
  1,184   91,085
Selective Insurance Group, Inc.
  2,051   208,566
Silvercrest Asset Management Group, Inc., Class A
  3,888   60,575
Simmons First National Corp., Class A
  4,341   69,413
SiriusPoint Ltd. (Bermuda)(b)
  48,345   516,325
Skyward Specialty Insurance Group, Inc.(b)
  3,359   109,839
SmartFinancial, Inc.
  3,904   83,428
South Plains Financial, Inc.(c)
  4,744   123,344
Southern States Bancshares, Inc.
  3,796   95,356
Southside Bancshares, Inc.
  2,977   81,659
Stellar Bancorp, Inc.
  3,818   91,097
StepStone Group, Inc., Class A
  4,007   102,659
Stewart Information Services Corp.
  7,417   350,453
StoneCo Ltd., Class A (Brazil)(b)(c)
  28,417   443,305
StoneX Group, Inc.(b)
  10,144   620,103
Texas Capital Bancshares, Inc.(b)
  4,422   242,679
Timberland Bancorp, Inc.
  3,489   101,669
Tiptree, Inc.
  37,702   702,765
Towne Bank
  4,112   107,981
TrustCo Bank Corp.
  9,009   241,802
Trustmark Corp.
  5,350   122,569
Two Harbors Investment Corp.
  9,152   126,847
United Fire Group, Inc.
  15,507   323,941
Universal Insurance Holdings, Inc.
  29,554   501,236
Victory Capital Holdings, Inc., Class A
  8,115   260,897
Virtus Investment Partners, Inc.
  1,931   377,742
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Financials-(continued)
WaFd, Inc.
  4,908   $131,191
Walker & Dunlop, Inc.
  1,339   112,503
Waterstone Financial, Inc.
  6,025   73,565
WisdomTree, Inc.(c)
  66,793   434,822
World Acceptance Corp.(b)(c)
  1,246   138,867
WSFS Financial Corp.
  2,455   94,689
        50,438,023
Health Care-10.56%
4D Molecular Therapeutics, Inc.(b)(c)
  6,913   87,933
89bio, Inc.(b)(c)
  15,265   122,731
Acadia Pharmaceuticals, Inc.(b)(c)
  8,343   185,882
Accuray, Inc.(b)
  108,963   284,393
Actinium Pharmaceuticals, Inc.(b)(c)
  20,400   93,432
AdaptHealth Corp.(b)(c)
  10,814   91,703
Addus HomeCare Corp.(b)
  8,240   718,528
ADMA Biologics, Inc.(b)
  82,408   304,910
Akero Therapeutics, Inc.(b)
  6,294   105,362
Aldeyra Therapeutics, Inc.(b)(c)
  22,665   62,782
Alkermes PLC(b)
  2,710   65,419
Alphatec Holdings, Inc.(b)(c)
  18,421   218,657
Amicus Therapeutics, Inc.(b)(c)
  11,866   130,763
AMN Healthcare Services, Inc.(b)(c)
  1,752   118,786
Amphastar Pharmaceuticals, Inc.(b)
  7,244   407,982
Amylyx Pharmaceuticals, Inc.(b)
  3,508   49,673
Anavex Life Sciences Corp.(b)(c)
  19,861   143,198
ANI Pharmaceuticals, Inc.(b)
  8,036   400,273
Anika Therapeutics, Inc.(b)(c)
  9,008   197,365
Apollo Medical Holdings, Inc.(b)(c)
  2,300   76,429
Arcellx, Inc.(b)(c)
  5,901   309,980
Arcus Biosciences, Inc.(b)(c)
  4,778   71,957
Ardelyx, Inc.(b)(c)
  100,434   452,957
Arrowhead Pharmaceuticals, Inc.(b)(c)
  2,257   47,848
Artivion, Inc.(b)(c)
  16,578   294,094
Assertio Holdings, Inc.(b)
  152,089   155,131
Astria Therapeutics, Inc.(b)
  11,194   52,052
AtriCure, Inc.(b)
  4,826   171,227
Atrion Corp.
  211   65,062
Aurinia Pharmaceuticals, Inc. (Canada)(b)
  8,184   70,710
Avanos Medical, Inc.(b)
  8,728   188,088
Avid Bioservices, Inc.(b)(c)
  24,128   122,812
Avita Medical, Inc.(b)(c)
  19,957   212,742
Axonics, Inc.(b)(c)
  2,196   122,954
BioLife Solutions, Inc.(b)(c)
  13,806   170,780
Biomea Fusion, Inc.(b)(c)
  6,502   97,985
biote Corp., Class A(b)
  23,901   119,266
Cabaletta Bio, Inc.(b)(c)
  10,616   170,387
Castle Biosciences, Inc.(b)
  11,859   237,061
Catalyst Pharmaceuticals, Inc.(b)(c)
  68,804   992,842
Celldex Therapeutics, Inc.(b)(c)
  8,363   252,646
Collegium Pharmaceutical, Inc.(b)
  26,152   670,276
Community Health Systems, Inc.(b)(c)
  156,961   403,390
Compass Therapeutics, Inc.(b)(c)
  27,317   45,073
Computer Programs and Systems, Inc.(b)(c)
  5,830   61,273
CONMED Corp.(c)
  1,567   168,092
Corcept Therapeutics, Inc.(b)
  7,738   197,087
CorMedix, Inc.(b)(c)
  26,744   86,918
CorVel Corp.(b)(c)
  881   184,006
Crinetics Pharmaceuticals, Inc.(b)(c)
  3,980   126,524
Cross Country Healthcare, Inc.(b)(c)
  51,997   1,053,979
CryoPort, Inc.(b)
  5,075   71,152
Cymabay Therapeutics, Inc.(b)(c)
  35,103   671,520
Cytek Biosciences, Inc.(b)(c)
  13,989   97,084
  Shares   Value
Health Care-(continued)
Denali Therapeutics, Inc.(b)(c)
  2,831   $52,430
Disc Medicine, Inc.(b)
  3,174   175,141
DocGo, Inc.(b)(c)
  24,363   137,651
Dynavax Technologies Corp.(b)(c)
  22,579   309,332
Dyne Therapeutics, Inc.(b)(c)
  5,824   64,530
Edgewise Therapeutics, Inc.(b)(c)
  11,160   67,853
Embecta Corp.
  6,190   113,525
Enhabit, Inc.(b)(c)
  25,099   267,555
Enliven Therapeutics, Inc.(b)(c)
  9,137   102,883
Ensign Group, Inc. (The)
  1,952   209,001
Evolent Health, Inc., Class A(b)(c)
  5,187   144,199
FibroGen, Inc.(b)
  13,984   7,725
Geron Corp.(b)
  70,187   135,461
Glaukos Corp.(b)
  2,968   189,626
Haemonetics Corp.(b)
  2,844   229,994
Harmony Biosciences Holdings, Inc.(b)(c)
  2,473   71,865
Harrow, Inc.(b)(c)
  22,681   209,346
Harvard Bioscience, Inc.(b)
  17,774   75,717
Health Catalyst, Inc.(b)(c)
  11,350   81,493
HealthStream, Inc.
  12,901   322,525
HilleVax, Inc.(b)(c)
  5,365   73,554
Hims & Hers Health, Inc.(b)(c)
  32,156   285,867
Ideaya Biosciences, Inc.(b)(c)
  12,793   402,340
ImmunoGen, Inc.(b)(c)
  12,058   353,902
Immunovant, Inc.(b)(c)
  5,599   219,089
Inari Medical, Inc.(b)(c)
  1,421   84,820
InfuSystem Holdings, Inc.(b)(c)
  14,223   142,657
Inhibrx, Inc.(b)(c)
  6,092   126,531
Inmode Ltd.(b)
  6,664   158,270
Innoviva, Inc.(b)(c)
  13,951   193,221
Integer Holdings Corp.(b)
  4,801   418,743
iRadimed Corp.
  4,031   177,122
iRhythm Technologies, Inc.(b)(c)
  770   65,666
Ironwood Pharmaceuticals, Inc.(b)
  14,834   146,857
Joint Corp. (The)(b)(c)
  11,483   100,936
Keros Therapeutics, Inc.(b)
  5,340   162,016
Kiniksa Pharmaceuticals Ltd., Class A(b)(c)
  10,777   174,264
KORU Medical Systems, Inc.(b)
  38,401   86,786
Krystal Biotech, Inc.(b)(c)
  1,974   205,750
Kymera Therapeutics, Inc.(b)(c)
  6,614   137,307
Lantheus Holdings, Inc.(b)(c)
  1,585   113,518
LeMaitre Vascular, Inc.
  8,543   450,216
LifeStance Health Group, Inc.(b)(c)
  10,789   74,120
Ligand Pharmaceuticals, Inc.(b)(c)
  4,982   290,500
Liquidia Corp.(b)(c)
  10,396   74,435
MannKind Corp.(b)(c)
  31,727   114,852
Marinus Pharmaceuticals, Inc.(b)(c)
  17,563   118,199
Merit Medical Systems, Inc.(b)
  3,174   227,131
Mesa Laboratories, Inc.
  685   58,478
MiMedx Group, Inc.(b)(c)
  52,360   406,837
Mirum Pharmaceuticals, Inc.(b)(c)
  4,879   156,470
Morphic Holding, Inc.(b)(c)
  4,710   111,627
Mural Oncology PLC (Ireland)(b)(c)
  271   978
Myriad Genetics, Inc.(b)
  7,265   138,689
National HealthCare Corp.
  1,626   124,503
National Research Corp.(c)
  4,612   191,075
NeoGenomics, Inc.(b)(c)
  16,032   291,301
Nuvalent, Inc., Class A(b)(c)
  4,636   303,055
Omeros Corp.(b)(c)
  29,196   63,939
Omnicell, Inc.(b)
  1,062   35,428
Option Care Health, Inc.(b)
  5,689   169,248
OraSure Technologies, Inc.(b)(c)
  82,401   603,175
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Health Care-(continued)
Orthofix Medical, Inc.(b)
  4,249   $46,951
OrthoPediatrics Corp.(b)(c)
  3,603   111,081
Outset Medical, Inc.(b)(c)
  3,847   20,158
Owens & Minor, Inc.(b)
  32,320   642,522
Pacific Biosciences of California, Inc.(b)(c)
  18,635   158,025
Paragon 28, Inc.(b)(c)
  11,088   122,522
Patterson Cos., Inc.
  3,474   88,274
Pediatrix Medical Group, Inc.(b)
  10,697   89,641
Pennant Group, Inc. (The)(b)
  9,495   130,271
Phreesia, Inc.(b)(c)
  3,835   59,097
Pliant Therapeutics, Inc.(b)(c)
  8,336   115,787
Point Biopharma Global, Inc.(b)
  100,045   1,360,612
Prestige Consumer Healthcare, Inc.(b)
  3,287   188,509
ProKidney Corp.(b)(c)
  13,825   23,226
Protagonist Therapeutics, Inc.(b)
  13,771   250,770
Protalix BioTherapeutics, Inc.(b)
  34,593   52,235
Prothena Corp. PLC (Ireland)(b)(c)
  2,843   92,625
PTC Therapeutics, Inc.(b)(c)
  4,161   95,786
Pulmonx Corp.(b)
  15,869   172,972
Quanterix Corp.(b)
  5,608   134,424
Quipt Home Medical Corp.(b)
  37,875   178,013
RadNet, Inc.(b)
  18,483   614,190
RAPT Therapeutics, Inc.(b)(c)
  11,083   160,925
Replimune Group, Inc.(b)(c)
  4,726   52,837
Revance Therapeutics, Inc.(b)(c)
  4,352   29,463
REVOLUTION Medicines, Inc.(b)(c)
  4,931   115,040
Rocket Pharmaceuticals, Inc.(b)(c)
  8,997   209,900
RxSight, Inc.(b)
  12,089   364,604
Sage Therapeutics, Inc.(b)(c)
  1,769   34,637
Sanara Medtech, Inc.(b)
  3,835   124,254
Savara, Inc.(b)(c)
  38,650   148,803
Schrodinger, Inc.(b)(c)
  3,483   108,286
scPharmaceuticals, Inc.(b)(c)
  12,735   69,278
Select Medical Holdings Corp.
  12,884   291,178
Semler Scientific, Inc.(b)(c)
  9,884   380,929
SI-BONE, Inc.(b)(c)
  17,680   335,213
Silk Road Medical, Inc.(b)(c)
  3,306   30,845
Simulations Plus, Inc.(c)
  3,279   128,537
SpringWorks Therapeutics, Inc.(b)(c)
  5,113   155,384
STAAR Surgical Co.(b)
  1,743   54,660
Supernus Pharmaceuticals, Inc.(b)
  12,463   339,617
Syndax Pharmaceuticals, Inc.(b)(c)
  6,476   107,793
Tactile Systems Technology, Inc.(b)(c)
  26,072   347,540
Tarsus Pharmaceuticals, Inc.(b)(c)
  4,143   68,484
Terns Pharmaceuticals, Inc.(b)(c)
  18,754   83,455
TG Therapeutics, Inc.(b)(c)
  8,068   103,351
Theravance Biopharma, Inc.(b)(c)
  49,161   515,207
TransMedics Group, Inc.(b)(c)
  5,588   422,900
Treace Medical Concepts, Inc.(b)(c)
  12,702   111,270
UFP Technologies, Inc.(b)(c)
  4,332   721,105
US Physical Therapy, Inc.
  5,828   495,555
Utah Medical Products, Inc.
  1,371   115,575
Vanda Pharmaceuticals, Inc.(b)
  16,834   62,622
Varex Imaging Corp.(b)(c)
  11,715   220,828
Vaxcyte, Inc.(b)(c)
  2,311   119,640
Veracyte, Inc.(b)(c)
  9,444   241,766
Vericel Corp.(b)
  11,783   418,768
Viemed Healthcare, Inc.(b)
  52,582   408,562
Viking Therapeutics, Inc.(b)(c)
  18,353   224,274
Vir Biotechnology, Inc.(b)
  5,791   54,957
Viridian Therapeutics, Inc.(b)(c)
  8,544   143,027
Voyager Therapeutics, Inc.(b)
  15,010   108,973
  Shares   Value
Health Care-(continued)
Xencor, Inc.(b)(c)
  7,896   $144,813
Zentalis Pharmaceuticals, Inc.(b)(c)
  5,043   56,734
Zimvie, Inc.(b)(c)
  10,033   94,812
Zymeworks, Inc.(b)
  93,959   833,416
Zynex, Inc.(b)
  32,243   295,346
        37,285,334
Industrials-23.02%
374Water, inc.(b)(c)
  28,697   33,002
AAON, Inc.
  3,560   222,856
AAR Corp.(b)
  10,659   738,669
ABM Industries, Inc.
  8,216   336,774
ACCO Brands Corp.
  16,566   89,125
ACV Auctions, Inc., Class A(b)(c)
  23,970   374,651
AeroVironment, Inc.(b)(c)
  1,715   236,001
AerSale Corp.(b)(c)
  14,010   195,440
Air Transport Services Group, Inc.(b)(c)
  12,551   199,686
Alamo Group, Inc.
  3,011   553,121
Albany International Corp., Class A
  3,037   260,635
Alight, Inc., Class A(b)(c)
  21,233   162,432
Allient, Inc.
  14,815   386,375
Alta Equipment Group, Inc.(c)
  43,217   412,290
Ameresco, Inc., Class A(b)(c)
  2,303   68,998
American Woodmark Corp.(b)
  15,681   1,135,304
API Group Corp.(b)
  14,099   427,905
Apogee Enterprises, Inc.
  9,431   425,338
Applied Industrial Technologies, Inc.
  1,946   311,496
ArcBest Corp.
  6,297   750,539
Arcosa, Inc.
  5,041   374,042
Argan, Inc.
  6,854   319,671
Array Technologies, Inc.(b)(c)
  8,055   124,611
ASGN, Inc.(b)
  1,183   105,571
Astec Industries, Inc.
  7,819   243,093
Astronics Corp.(b)
  14,938   221,829
Asure Software, Inc.(b)
  26,209   208,886
Atkore, Inc.(b)(c)
  2,272   295,133
AZZ, Inc.
  7,741   380,625
Babcock & Wilcox Enterprises, Inc.(b)
  57,493   81,640
Barnes Group, Inc.
  10,638   280,630
Barrett Business Services, Inc.
  6,164   677,732
Beacon Roofing Supply, Inc.(b)
  4,101   329,556
Blue Bird Corp.(b)(c)
  10,375   197,955
BlueLinx Holdings, Inc.(b)(c)
  9,637   846,610
Boise Cascade Co.
  7,542   824,341
Bowman Consulting Group Ltd.(b)(c)
  15,834   488,162
Brink’s Co. (The)(c)
  5,705   450,125
Cadre Holdings, Inc.
  13,764   443,201
Casella Waste Systems, Inc., Class A(b)(c)
  2,488   201,229
CBIZ, Inc.(b)
  8,590   497,275
CECO Environmental Corp.(b)
  58,533   1,126,760
Chart Industries, Inc.(b)(c)
  1,152   149,795
Cimpress PLC (Ireland)(b)
  2,990   210,765
Columbus McKinnon Corp.
  14,547   507,981
Comfort Systems USA, Inc.
  2,309   446,976
Commercial Vehicle Group, Inc.(b)
  84,858   553,274
Concrete Pumping Holdings, Inc.(b)(c)
  20,843   155,072
Conduent, Inc.(b)
  37,642   114,432
Construction Partners, Inc., Class A(b)(c)
  23,690   994,032
Covenant Logistics Group, Inc., Class A
  26,053   1,109,076
CRA International, Inc.
  4,750   450,157
CSG Systems International, Inc.
  3,167   155,785
CSW Industrials, Inc.
  3,322   589,090
Custom Truck One Source, Inc.(b)(c)
  22,110   128,459
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
Daseke, Inc.(b)(c)
  12,181   $53,353
Deluxe Corp.
  4,675   85,506
Douglas Dynamics, Inc.
  7,287   199,081
Ducommun, Inc.(b)(c)
  5,902   297,343
DXP Enterprises, Inc.(b)
  9,209   269,640
Dycom Industries, Inc.(b)
  4,361   452,977
Eagle Bulk Shipping, Inc.(c)
  5,494   249,702
Encore Wire Corp.(c)
  4,758   876,899
Energy Recovery, Inc.(b)(c)
  25,682   489,499
Enerpac Tool Group Corp.
  21,293   581,299
EnerSys
  4,074   360,468
Eneti, Inc.
  20,274   219,973
Ennis, Inc.(c)
  22,775   483,513
Enovix Corp.(b)(c)
  26,856   297,296
Enpro, Inc.
  3,561   457,339
Enviri Corp.(b)
  72,546   428,021
ESCO Technologies, Inc.
  5,854   614,553
EVI Industries, Inc.(c)
  9,082   235,224
ExlService Holdings, Inc.(b)
  4,343   123,211
Exponent, Inc.
  922   70,957
Federal Signal Corp.
  8,207   565,791
Fluor Corp.(b)
  13,564   515,839
Forward Air Corp.
  4,359   276,927
Franklin Covey Co.(b)
  3,684   143,234
Franklin Electric Co., Inc.
  3,011   267,979
FTAI Aviation Ltd.(c)
  13,092   539,521
GATX Corp.(c)
  1,873   204,157
Gencor Industries, Inc.(b)
  10,707   159,963
GEO Group, Inc. (The)(b)(c)
  87,324   886,339
Gibraltar Industries, Inc.(b)
  11,622   780,882
Global Industrial Co.
  5,728   203,974
GMS, Inc.(b)
  13,052   882,837
Gorman-Rupp Co. (The)(c)
  4,330   136,741
Granite Construction, Inc.
  18,340   842,723
Greenbrier Cos., Inc. (The)
  3,139   118,372
Griffon Corp.
  12,677   589,861
H&E Equipment Services, Inc.
  24,896   1,103,142
Healthcare Services Group, Inc.
  19,944   193,656
Heartland Express, Inc.
  18,055   242,298
Heidrick & Struggles International, Inc.
  3,734   101,490
Helios Technologies, Inc.(c)
  3,542   135,942
Herc Holdings, Inc.
  5,152   637,096
Hillenbrand, Inc.
  6,915   267,887
HireQuest, Inc.
  6,481   95,984
HNI Corp.
  6,459   252,353
Hub Group, Inc., Class A(b)
  6,119   462,290
Hudson Technologies, Inc.(b)
  20,836   257,325
Huron Consulting Group, Inc.(b)
  6,487   675,751
Hyster-Yale Materials Handling, Inc.
  12,692   605,028
IBEX Holdings Ltd.(b)
  8,652   153,400
ICF International, Inc.
  3,897   545,385
IES Holdings, Inc.(b)
  9,875   690,954
Innodata, Inc.(b)(c)
  20,703   139,952
Insperity, Inc.
  2,067   235,121
Insteel Industries, Inc.
  14,854   505,333
Interface, Inc.
  10,471   105,862
Janus International Group, Inc.(b)(c)
  13,776   145,337
JELD-WEN Holding, Inc.(b)(c)
  47,758   763,173
JetBlue Airways Corp.(b)(c)
  19,050   84,201
John Bean Technologies Corp.
  982   101,441
Kadant, Inc.(c)
  1,241   323,429
Kaman Corp.
  9,261   187,720
  Shares   Value
Industrials-(continued)
Kelly Services, Inc., Class A
  43,301   $900,228
Kennametal, Inc.
  14,730   343,356
Kforce, Inc.(c)
  5,012   349,336
Korn Ferry
  5,159   266,927
Kratos Defense & Security Solutions, Inc.(b)(c)
  6,669   127,044
Limbach Holdings, Inc.(b)
  28,924   1,102,583
Lindsay Corp.
  1,735   207,003
Liquidity Services, Inc.(b)
  23,994   459,725
LSI Industries, Inc.
  51,719   678,036
Luxfer Holdings PLC (United Kingdom)
  12,165   100,361
Manitowoc Co., Inc. (The)(b)(c)
  55,560   796,175
Marten Transport Ltd.
  16,666   314,154
Masonite International Corp.(b)
  8,320   739,232
MasterBrand, Inc.(b)
  38,288   513,825
Matson, Inc.(c)
  3,214   307,805
Matthews International Corp., Class A
  18,185   621,018
Maximus, Inc.
  2,250   187,853
Mayville Engineering Co., Inc.(b)(c)
  30,442   386,613
McGrath RentCorp
  3,849   391,405
Miller Industries, Inc.
  17,183   682,852
Mistras Group, Inc.(b)(c)
  20,563   136,127
Montrose Environmental Group, Inc.(b)
  11,982   374,677
Moog, Inc., Class A
  3,995   559,340
MRC Global, Inc.(b)
  24,552   253,868
Mueller Industries, Inc.
  13,222   549,110
Mueller Water Products, Inc., Class A
  28,914   384,267
MYR Group, Inc.(b)
  6,360   791,311
National Presto Industries, Inc.
  3,622   270,636
Nextracker, Inc., Class A(b)
  4,358   177,109
Northwest Pipe Co.(b)(c)
  5,533   150,055
NOW, Inc.(b)
  23,698   236,269
NV5 Global, Inc.(b)(c)
  1,217   118,390
Pangaea Logistics Solutions Ltd.
  50,890   356,230
Park Aerospace Corp.
  11,216   169,137
Park-Ohio Holdings Corp.(c)
  7,502   170,821
PGT Innovations, Inc.(b)
  38,043   1,224,604
Pitney Bowes, Inc.
  73,754   297,966
Powell Industries, Inc.
  9,997   831,351
Preformed Line Products Co.
  2,737   341,058
Primoris Services Corp.
  28,037   851,203
Proto Labs, Inc.(b)
  3,554   128,655
Quanex Building Products Corp.
  18,346   564,873
Radiant Logistics, Inc.(b)(c)
  19,893   119,557
Resideo Technologies, Inc.(b)
  39,071   641,937
Resources Connection, Inc.
  18,187   247,343
REV Group, Inc.
  17,407   274,857
Rush Enterprises, Inc., Class A
  7,488   297,049
RXO, Inc.(b)(c)
  13,079   274,136
Safe Bulkers, Inc. (Greece)
  27,107   105,175
Shoals Technologies Group, Inc., Class A(b)(c)
  3,413   47,270
Shyft Group, Inc. (The)
  25,024   277,016
Simpson Manufacturing Co., Inc.
  1,895   316,408
SkyWest, Inc.(b)
  32,570   1,539,910
SKYX Platforms Corp., Class C(b)
  35,266   54,662
SP Plus Corp.(b)
  19,293   986,837
SPX Technologies, Inc.(b)
  3,211   273,930
Standex International Corp.
  5,178   692,920
Sterling Infrastructure, Inc.(b)
  25,450   1,616,329
Tennant Co.
  6,085   520,998
Terex Corp.
  16,526   818,037
Textainer Group Holdings Ltd. (China)
  26,262   1,292,878
Thermon Group Holdings, Inc.(b)
  27,039   815,226
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
Titan International, Inc.(b)(c)
  11,661   $152,409
Titan Machinery, Inc.(b)
  37,505   857,364
Transcat, Inc.(b)(c)
  6,985   684,390
TriNet Group, Inc.(b)
  1,725   199,979
Trinity Industries, Inc.
  8,905   222,269
Triumph Group, Inc.(b)
  16,113   180,304
TrueBlue, Inc.(b)
  27,285   380,353
UFP Industries, Inc.
  4,123   452,004
UniFirst Corp.
  1,436   247,854
Universal Logistics Holdings, Inc.
  7,758   191,933
V2X, Inc.(b)
  4,196   177,910
Verra Mobility Corp., Class A(b)
  16,169   324,674
Viad Corp.(b)
  4,985   166,001
Vicor Corp.(b)(c)
  2,246   82,136
VSE Corp.(c)
  9,807   592,637
Wabash National Corp.(c)
  56,559   1,239,773
Watts Water Technologies, Inc., Class A
  1,709   329,000
Werner Enterprises, Inc.(c)
  9,364   374,654
Willis Lease Finance Corp.(b)(c)
  4,450   203,454
        81,260,913
Information Technology-8.78%
A10 Networks, Inc.
  12,825   160,184
ACI Worldwide, Inc.(b)
  4,511   120,624
Adeia, Inc.
  23,718   217,968
Advanced Energy Industries, Inc.(c)
  3,081   292,849
Aehr Test Systems(b)(c)
  17,094   392,478
Agilysys, Inc.(b)
  5,121   440,867
Alkami Technology, Inc.(b)(c)
  6,249   142,290
Alpha & Omega Semiconductor Ltd.(b)
  8,558   183,056
Altair Engineering, Inc., Class A(b)(c)
  2,229   161,513
Ambarella, Inc.(b)
  2,984   175,191
Amkor Technology, Inc.
  5,020   141,413
AppFolio, Inc., Class A(b)
  2,007   379,825
Appian Corp., Class A(b)(c)
  2,934   106,328
Applied Digital Corp.(b)(c)
  32,181   150,285
Arlo Technologies, Inc.(b)(c)
  9,532   86,646
AvePoint, Inc.(b)(c)
  20,903   171,196
Aviat Networks, Inc.(b)
  6,780   205,502
Axcelis Technologies, Inc.(b)(c)
  1,812   225,195
Badger Meter, Inc.
  2,433   358,551
Bel Fuse, Inc., Class B
  18,315   990,841
Belden, Inc.
  5,751   382,096
Benchmark Electronics, Inc.
  18,748   467,763
Blackbaud, Inc.(b)
  1,698   127,758
Box, Inc., Class A(b)
  6,839   178,977
Calix, Inc.(b)(c)
  6,583   254,038
Clear Secure, Inc., Class A(c)
  5,298   113,006
Climb Global Solutions, Inc.(c)
  5,221   248,989
Cohu, Inc.(b)
  14,797   469,509
CommVault Systems, Inc.(b)
  3,822   281,223
CompoSecure, Inc.(b)
  42,699   213,068
Comtech Telecommunications Corp.
  25,170   297,258
Consensus Cloud Solutions, Inc.(b)(c)
  9,117   167,935
CoreCard Corp.(b)(c)
  5,872   76,512
Corsair Gaming, Inc.(b)(c)
  5,121   66,112
Couchbase, Inc.(b)(c)
  7,179   140,996
CPI Card Group, Inc.(b)(c)
  11,259   200,298
Credo Technology Group Holding Ltd.(b)(c)
  15,480   277,247
CTS Corp.(c)
  15,625   605,469
Daktronics, Inc.(b)(c)
  80,490   839,511
Digi International, Inc.(b)(c)
  12,119   285,281
Digimarc Corp.(b)(c)
  2,472   82,540
  Shares   Value
Information Technology-(continued)
Diodes, Inc.(b)
  4,242   $281,754
Ebix, Inc.(c)
  3,601   14,188
Envestnet, Inc.(b)
  2,280   86,708
ePlus, Inc.(b)
  2,412   153,114
Evolv Technologies Holdings, Inc.(b)(c)
  27,015   108,060
Extreme Networks, Inc.(b)
  27,862   449,693
Fabrinet (Thailand)(b)(c)
  1,735   280,897
FormFactor, Inc.(b)
  9,181   345,022
Freshworks, Inc., Class A(b)
  14,533   290,951
Hackett Group, Inc. (The)
  24,702   551,102
Harmonic, Inc.(b)
  33,063   365,677
Ichor Holdings Ltd.(b)
  20,484   535,247
Immersion Corp.(c)
  28,736   186,209
Impinj, Inc.(b)(c)
  3,712   310,286
indie Semiconductor, Inc., A Shares (China)(b)(c)
  28,012   208,970
Infinera Corp.(b)(c)
  28,097   109,297
Information Services Group, Inc.
  21,963   91,366
Insight Enterprises, Inc.(b)(c)
  2,939   445,023
Intapp, Inc.(b)(c)
  2,364   88,650
InterDigital, Inc.
  3,882   387,889
inTEST Corp.(b)(c)
  18,040   235,783
Iteris, Inc.(b)(c)
  33,326   141,302
Itron, Inc.(b)
  4,740   319,381
Kimball Electronics, Inc.(b)
  14,034   345,798
Knowles Corp.(b)
  5,667   89,935
Kulicke & Soffa Industries, Inc. (Singapore)(c)
  7,520   387,430
KVH Industries, Inc.(b)(c)
  20,143   96,485
LiveRamp Holdings, Inc.(b)
  5,922   196,374
Luna Innovations, Inc.(b)(c)
  38,138   242,939
MACOM Technology Solutions Holdings, Inc.(b)(c)
  3,069   257,735
Maxeon Solar Technologies Ltd.(b)(c)
  5,249   21,678
MaxLinear, Inc.(b)
  3,752   70,275
MeridianLink, Inc.(b)(c)
  5,878   111,800
Methode Electronics, Inc.
  6,811   161,625
MicroStrategy, Inc., Class A(b)(c)
  371   184,869
Mirion Technologies, Inc.(b)(c)
  13,451   120,117
Mitek Systems, Inc.(b)(c)
  9,536   107,661
Model N, Inc.(b)(c)
  6,837   156,909
N-able, Inc.(b)
  6,261   74,569
Napco Security Technologies, Inc.
  9,062   277,297
Navitas Semiconductor Corp.(b)(c)
  10,071   69,893
NetScout Systems, Inc.(b)
  2,710   54,417
nLight, Inc.(b)
  11,134   147,191
Novanta, Inc.(b)
  1,004   145,018
NVE Corp.(c)
  5,843   418,768
Olo, Inc., Class A(b)
  22,104   118,477
OneSpan, Inc.(b)(c)
  5,034   50,491
Onto Innovation, Inc.(b)(c)
  2,498   352,243
OSI Systems, Inc.(b)
  4,285   528,298
PagerDuty, Inc.(b)(c)
  5,204   113,447
PC Connection, Inc.
  4,302   256,528
PDF Solutions, Inc.(b)
  11,257   337,597
Perficient, Inc.(b)(c)
  1,164   72,028
Photronics, Inc.(b)
  28,694   606,304
Plexus Corp.(b)
  5,693   580,060
Power Integrations, Inc.
  1,494   114,157
PowerSchool Holdings, Inc., Class A(b)(c)
  7,377   172,032
Progress Software Corp.
  5,050   271,993
PROS Holdings, Inc.(b)(c)
  6,059   221,456
Qualys, Inc.(b)(c)
  656   121,255
Rambus, Inc.(b)
  2,570   173,912
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Information Technology-(continued)
Richardson Electronics Ltd.(c)
  13,867   $180,548
Rogers Corp.(b)
  1,194   154,504
Sanmina Corp.(b)
  8,904   446,179
Sapiens International Corp. N.V. (Israel)
  3,651   93,940
ScanSource, Inc.(b)
  17,755   593,550
Silicon Laboratories, Inc.(b)(c)
  538   56,689
SiTime Corp.(b)(c)
  1,068   118,121
SMART Global Holdings, Inc.(b)(c)
  23,210   386,679
SoundThinking, Inc.(b)(c)
  11,406   253,898
Sprinklr, Inc., Class A(b)(c)
  10,041   157,443
Sprout Social, Inc., Class A(b)(c)
  2,208   125,635
SPS Commerce, Inc.(b)
  1,218   209,837
Squarespace, Inc., Class A(b)
  6,735   188,782
TTM Technologies, Inc.(b)
  29,400   441,294
Ultra Clean Holdings, Inc.(b)
  11,143   302,421
Varonis Systems, Inc.(b)(c)
  6,738   282,255
Veeco Instruments, Inc.(b)
  19,099   544,894
Viavi Solutions, Inc.(b)
  10,808   87,329
Vishay Intertechnology, Inc.
  21,086   468,742
Vishay Precision Group, Inc.(b)
  9,731   296,698
Weave Communications, Inc.(b)(c)
  15,517   146,480
Workiva, Inc.(b)(c)
  1,457   140,120
Xerox Holdings Corp.
  10,761   150,546
Yext, Inc.(b)
  25,895   171,684
Zeta Global Holdings Corp.(b)(c)
  23,006   187,959
Zuora, Inc., Class A(b)(c)
  11,008   100,393
        30,980,638
Materials-5.92%
AdvanSix, Inc.
  12,749   333,131
Alpha Metallurgical Resources, Inc.
  1,713   480,599
American Vanguard Corp.(c)
  13,332   125,054
Arch Resources, Inc.
  1,171   194,339
ATI, Inc.(b)
  12,015   528,059
Avient Corp.
  6,209   213,279
Balchem Corp.
  886   110,502
Cabot Corp.
  3,293   249,939
Caledonia Mining Corp. PLC (South Africa)
  12,021   142,449
Carpenter Technology Corp.
  11,622   822,954
Century Aluminum Co.(b)(c)
  12,254   96,316
Clearwater Paper Corp.(b)
  14,015   491,506
Commercial Metals Co.
  8,559   387,979
Compass Minerals International, Inc.
  6,342   153,984
Constellium SE(b)
  34,731   604,319
Core Molding Technologies, Inc.(b)
  23,339   419,869
Ecovyst, Inc.(b)(c)
  59,700   568,344
Greif, Inc., Class A
  3,249   227,105
Greif, Inc., Class B
  1,086   75,640
H.B. Fuller Co.
  3,275   247,852
Hawkins, Inc.
  10,888   668,959
Haynes International, Inc.
  9,819   481,917
Hecla Mining Co.(c)
  37,667   187,582
Ingevity Corp.(b)
  2,149   83,360
Innospec, Inc.
  3,061   321,619
Kaiser Aluminum Corp.
  1,477   86,375
Knife River Corp.(b)(c)
  7,701   459,596
Koppers Holdings, Inc.
  33,047   1,492,733
Livent Corp.(b)(c)
  6,629   91,215
Materion Corp.
  5,538   626,403
Mativ Holdings, Inc., Class A
  5,944   69,545
Minerals Technologies, Inc.
  6,354   398,015
Myers Industries, Inc.
  13,466   237,271
Novagold Resources, Inc. (Canada)(b)
  17,766   74,617
  Shares   Value
Materials-(continued)
O-I Glass, Inc.(b)
  30,592   $451,538
Olympic Steel, Inc.
  24,940   1,409,858
Orion S.A. (Germany)
  42,319   1,008,462
Piedmont Lithium, Inc.(b)(c)
  3,161   81,901
Quaker Chemical Corp.
  1,077   192,557
Rayonier Advanced Materials, Inc.(b)(c)
  207,288   684,050
Ryerson Holding Corp.
  32,001   991,071
Schnitzer Steel Industries, Inc., Class A
  5,640   144,553
Sensient Technologies Corp.
  1,762   102,090
Stepan Co.
  1,780   146,975
Summit Materials, Inc., Class A(b)
  11,719   406,532
SunCoke Energy, Inc.
  90,839   845,711
Sylvamo Corp.
  9,798   492,643
TimkenSteel Corp.(b)(c)
  16,106   327,274
TriMas Corp.
  19,406   497,376
Tronox Holdings PLC, Class A(c)
  7,564   96,441
United States Lime & Minerals, Inc.(c)
  1,509   319,923
Warrior Met Coal, Inc.
  16,616   929,998
        20,881,379
Real Estate-2.66%
Alexander & Baldwin, Inc.
  9,003   150,800
Apartment Investment & Management Co., Class A(b)
  92,546   637,642
Apple Hospitality REIT, Inc.
  10,871   181,220
Armada Hoffler Properties, Inc.
  14,518   159,408
Braemar Hotels & Resorts, Inc.
  20,420   42,882
CareTrust REIT, Inc.
  13,049   301,171
CBL & Associates Properties, Inc.(c)
  5,736   134,796
Chatham Lodging Trust
  17,189   170,343
Community Healthcare Trust, Inc.
  5,488   148,725
COPT Defense Properties(c)
  3,705   89,661
CTO Realty Growth, Inc.
  5,153   87,086
DiamondRock Hospitality Co.
  25,069   208,574
Empire State Realty Trust, Inc., Class A(c)
  13,869   124,266
Equity Commonwealth
  3,989   74,953
Essential Properties Realty Trust, Inc.
  8,576   203,680
eXp World Holdings, Inc.(c)
  16,184   195,988
Forestar Group, Inc.(b)(c)
  21,514   656,822
Four Corners Property Trust, Inc.
  6,204   142,630
Getty Realty Corp.
  13,049   384,032
Global Medical REIT, Inc.
  9,357   93,851
Global Net Lease, Inc.(c)
  10,891   95,623
Kite Realty Group Trust
  8,587   181,357
LTC Properties, Inc.
  3,580   116,780
LXP Industrial Trust
  11,585   101,716
Macerich Co. (The)(c)
  26,743   306,742
National Health Investors, Inc.
  1,686   91,482
NETSTREIT Corp.
  7,124   109,567
Outfront Media, Inc.
  5,763   70,481
Plymouth Industrial REIT, Inc.(c)
  15,120   328,860
Postal Realty Trust, Inc., Class A
  8,389   117,446
PotlatchDeltic Corp.
  4,051   185,698
RE/MAX Holdings, Inc., Class A(c)
  7,607   69,984
RLJ Lodging Trust
  17,096   182,756
RMR Group, Inc. (The), Class A
  3,438   81,928
RPT Realty
  19,336   224,684
Ryman Hospitality Properties, Inc.(c)
  1,873   187,956
Sabra Health Care REIT, Inc.
  7,162   104,565
Safehold, Inc.(b)(c)
  3,424   67,419
Service Properties Trust
  53,870   385,171
SITE Centers Corp.
  8,231   108,567
St. Joe Co. (The)
  2,394   123,123
 
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Real Estate-(continued)
Summit Hotel Properties, Inc.
  36,414   $227,952
Sunstone Hotel Investors, Inc.(c)
  21,208   209,535
Tanger, Inc.(c)
  25,481   636,006
Tejon Ranch Co.(b)
  9,430   148,900
Terreno Realty Corp.(c)
  1,564   89,320
UMH Properties, Inc.
  5,770   81,472
Universal Health Realty Income Trust
  1,927   76,830
Urban Edge Properties
  8,859   148,388
Veris Residential, Inc.(c)
  5,451   78,985
Whitestone REIT
  8,113   88,918
Xenia Hotels & Resorts, Inc.(c)
  13,265   161,966
        9,378,707
Utilities-1.64%
ALLETE, Inc.
  3,054   169,436
American States Water Co.
  2,401   191,840
Artesian Resources Corp., Class A(c)
  4,639   195,070
Avista Corp.
  4,756   161,466
Black Hills Corp.
  1,966   101,426
Brookfield Infrastructure Corp., Class A (Canada)
  5,128   159,276
Cadiz, Inc.(b)(c)
  30,139   82,279
California Water Service Group
  2,843   143,771
Chesapeake Utilities Corp.
  1,652   157,931
Consolidated Water Co. Ltd. (Cayman Islands)(c)
  20,527   740,819
Genie Energy Ltd., Class B
  55,697   1,350,652
MGE Energy, Inc.
  2,040   150,450
Middlesex Water Co.
  1,502   95,978
New Jersey Resources Corp.
  3,894   164,327
Northwest Natural Holding Co.
  2,790   102,170
NorthWestern Energy Group, Inc.
  3,051   153,496
ONE Gas, Inc.
  3,450   198,823
  Shares   Value
Utilities-(continued)
Ormat Technologies, Inc.(c)
  1,297   $87,314
Otter Tail Corp.(c)
  3,750   286,162
PNM Resources, Inc.
  2,954   122,798
Portland General Electric Co.
  3,068   125,972
SJW Group
  4,756   312,184
Spire, Inc.
  1,588   96,884
Unitil Corp.
  5,344   259,077
York Water Co. (The)
  4,927   187,620
        5,797,221
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $353,864,671)
  352,777,581
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-21.47%
Invesco Private Government Fund, 5.32%(f)(g)(h)
  21,387,249   21,387,249
Invesco Private Prime Fund, 5.55%(f)(g)(h)
  54,345,546   54,367,284
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $75,740,269)
  75,754,533
TOTAL INVESTMENTS IN SECURITIES-121.42%

(Cost $429,604,940)
  428,532,114
OTHER ASSETS LESS LIABILITIES-(21.42)%
  (75,586,922)
NET ASSETS-100.00%
  $352,945,192
 
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, 2023.
(d) Restricted security. The value of this security at November 30, 2023 represented less than 1% of the Fund’s Net Assets.
(e) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at November 30, 2023 represented less than 1% of the Fund’s Net Assets.
(f) 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, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $3,314,697   $(3,314,697)   $-   $-   $-   $1,730
See accompanying notes which are an integral part of this schedule.
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
November 30, 2023
(Unaudited)
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $19,866,984   $29,724,118   $(28,203,853)   $-   $-   $21,387,249   $277,149*
Invesco Private Prime Fund 51,230,661   69,994,047   (66,879,497)   14,279   7,794   54,367,284   743,641*
Total $71,097,645   $103,032,862   $(98,398,047)   $14,279   $7,794   $75,754,533   $1,022,520
    
* 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.
    
(g) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(h) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
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, 2023
(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, 2023. 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 $250,398,701   $-   $-   $250,398,701
Money Market Funds -   20,283,155   -   20,283,155
Total Investments $250,398,701   $20,283,155   $-   $270,681,856
Invesco Russell 1000® Dynamic Multifactor ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $4,952,644,612   $-   $76,431   $4,952,721,043
Money Market Funds -   381,223,281   -   381,223,281
Total Investments $4,952,644,612   $381,223,281   $76,431   $5,333,944,324
Invesco Russell 2000® Dynamic Multifactor ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $352,685,080   $92,501   $-   $352,777,581
Money Market Funds -   75,754,533   -   75,754,533
Total Investments $352,685,080   $75,847,034   $-   $428,532,114