NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco Bloomberg Pricing Power ETF (POWA)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Consumer Discretionary-11.72%
Best Buy Co., Inc.
  51,085   $3,623,970
Five Below, Inc.(b)
  20,412   3,846,846
Home Depot, Inc. (The)
  11,707   3,670,027
Lowe’s Cos., Inc.
  16,811   3,342,531
lululemon athletica, inc.(b)
  10,114   4,518,935
Tractor Supply Co.
  17,785   3,610,533
        22,612,842
Consumer Staples-13.04%
Archer-Daniels-Midland Co.
  47,048   3,468,849
Costco Wholesale Corp.
  7,068   4,189,486
Dollar General Corp.
  24,066   3,155,534
Dollar Tree, Inc.(b)
  26,827   3,315,549
Hershey Co. (The)
  17,777   3,340,654
Sysco Corp.
  54,280   3,917,387
Walmart, Inc.
  24,204   3,768,321
        25,155,780
Health Care-22.43%
Agilent Technologies, Inc.
  32,044   4,095,223
Cardinal Health, Inc.
  44,814   4,798,683
Cencora, Inc.
  21,476   4,367,574
IQVIA Holdings, Inc.(b)
  17,710   3,791,711
Johnson & Johnson
  23,209   3,589,504
McKesson Corp.
  9,081   4,273,156
Mettler-Toledo International, Inc.(b)
  3,285   3,586,990
STERIS PLC
  16,920   3,399,905
Veeva Systems, Inc., Class A(b)
  20,349   3,547,034
Vertex Pharmaceuticals, Inc.(b)
  10,890   3,863,881
Waters Corp.(b)
  14,116   3,961,091
        43,274,752
Industrials-39.94%
AMETEK, Inc.
  24,490   3,801,583
Broadridge Financial Solutions, Inc.
  20,919   4,054,521
  Shares   Value
Industrials-(continued)
Cintas Corp.
  7,789   $4,309,264
Dover Corp.
  26,939   3,802,709
Fortune Brands Innovations, Inc.
  56,904   3,893,941
General Dynamics Corp.
  16,974   4,192,069
HEICO Corp.
  23,067   3,945,149
IDEX Corp.
  17,073   3,443,283
Illinois Tool Works, Inc.
  15,852   3,839,513
J.B. Hunt Transport Services, Inc.
  20,030   3,710,958
Johnson Controls International PLC
  64,358   3,398,102
Lockheed Martin Corp.
  8,402   3,762,163
Northrop Grumman Corp.
  8,804   4,183,309
Otis Worldwide Corp.
  45,645   3,915,884
PACCAR, Inc.
  44,568   4,092,234
Paycom Software, Inc.
  13,177   2,393,734
Rollins, Inc.
  96,341   3,924,932
Trane Technologies PLC
  18,948   4,271,069
Waste Management, Inc.
  24,155   4,130,263
Xylem, Inc.
  37,947   3,989,368
        77,054,048
Information Technology-10.64%
Accenture PLC, Class A
  12,136   4,042,987
Amphenol Corp., Class A
  44,192   4,021,030
Cadence Design Systems, Inc.(b)
  16,376   4,475,070
Lam Research Corp.
  5,635   4,034,209
VeriSign, Inc.(b)
  18,652   3,957,954
        20,531,250
Materials-2.11%
Avery Dennison Corp.
  20,986   4,081,777
TOTAL INVESTMENTS IN SECURITIES-99.88%

(Cost $187,865,229)
  192,710,449
OTHER ASSETS LESS LIABILITIES-0.12%
  224,541
NET ASSETS-100.00%
  $192,934,990
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.
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 $-   $365,933   $(365,933)   $-   $-   $-   $1,114
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund -   20,097   (20,097)   -   -   -   12*
Invesco Private Prime Fund -   51,570   (51,572)   -   2   -   33*
Total $-   $437,600   $(437,602)   $-   $2   $-   $1,159
    
* 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.
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 RAFITM Strategic US ETF (IUS)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-12.35%
Alphabet, Inc., Class A(b)
  71,492   $9,474,835
Altice USA, Inc., Class A(b)
  30,658   70,513
AT&T, Inc.
  188,218   3,118,772
Atlanta Braves Holdings, Inc., Series C(b)
  24   863
Charter Communications, Inc., Class A(b)
  2,594   1,037,937
Comcast Corp., Class A
  64,768   2,713,132
DISH Network Corp., Class A(b)(c)
  34,830   127,478
Electronic Arts, Inc.
  1,523   210,189
Fox Corp., Class A(c)
  8,601   254,074
Frontier Communications Parent, Inc.(b)(c)
  5,140   112,515
IAC, Inc.(b)(c)
  1,162   55,578
Interpublic Group of Cos., Inc. (The)
  3,403   104,608
Liberty Broadband Corp., Class C(b)
  2,837   235,811
Liberty Media Corp.-Liberty Formula One(b)
  987   62,832
Liberty Media Corp.-Liberty Live, Series C(b)
  36   1,233
Live Nation Entertainment, Inc.(b)
  823   69,313
Lumen Technologies, Inc.(b)
  157,166   205,888
Meta Platforms, Inc., Class A(b)
  20,330   6,650,960
Netflix, Inc.(b)
  890   421,833
News Corp., Class A
  8,288   182,668
Nexstar Media Group, Inc., Class A(c)
  728   103,325
Omnicom Group, Inc.
  1,944   156,745
Paramount Global, Class B(c)
  20,841   299,485
Take-Two Interactive Software, Inc.(b)(c)
  522   82,580
Telephone & Data Systems, Inc.
  13,152   259,094
T-Mobile US, Inc.
  4,222   635,200
Verizon Communications, Inc.
  75,998   2,913,003
Walt Disney Co. (The)(b)
  13,124   1,216,464
Warner Bros Discovery, Inc.(b)
  31,592   330,136
        31,107,064
Consumer Discretionary-10.58%
Academy Sports & Outdoors, Inc.
  1,426   72,541
Adient PLC(b)
  2,215   71,323
Advance Auto Parts, Inc.(c)
  1,139   57,850
Airbnb, Inc., Class A(b)
  1,943   245,479
Amazon.com, Inc.(b)
  34,350   5,018,192
Aptiv PLC(b)
  1,738   143,976
Aramark(c)
  2,717   76,103
Asbury Automotive Group, Inc.(b)
  526   110,365
Autoliv, Inc. (Sweden)(c)
  985   102,066
AutoNation, Inc.(b)(c)
  1,207   163,271
AutoZone, Inc.(b)
  125   326,241
Bath & Body Works, Inc.
  3,631   118,443
Best Buy Co., Inc.
  5,131   363,993
Booking Holdings, Inc.(b)
  166   518,866
BorgWarner, Inc.
  3,595   121,116
Brunswick Corp.(c)
  1,001   78,949
Burlington Stores, Inc.(b)(c)
  436   73,941
Caesars Entertainment, Inc.(b)
  2,211   98,876
Capri Holdings Ltd.(b)
  2,704   130,982
CarMax, Inc.(b)(c)
  2,635   168,482
Chipotle Mexican Grill, Inc.(b)
  61   134,337
Coupang, Inc. (South Korea)(b)(c)
  4,654   71,113
D.R. Horton, Inc.
  2,880   367,690
Dana, Inc.
  5,105   67,437
Darden Restaurants, Inc.(c)
  1,019   159,443
Dick’s Sporting Goods, Inc.(c)
  1,198   155,860
Dillard’s, Inc., Class A(c)
  266   92,326
DoorDash, Inc., Class A(b)
  989   92,946
eBay, Inc.
  10,042   411,822
Expedia Group, Inc.(b)
  2,186   297,689
  Shares   Value
Consumer Discretionary-(continued)
Foot Locker, Inc.(c)
  2,417   $65,090
Ford Motor Co.
  115,709   1,187,174
Gap, Inc. (The)(c)
  8,717   174,950
Garmin Ltd.
  932   113,928
General Motors Co.
  48,693   1,538,699
Genuine Parts Co.
  1,163   154,423
Goodyear Tire & Rubber Co. (The)(b)
  9,720   135,011
Group 1 Automotive, Inc.
  532   150,077
H&R Block, Inc.
  2,255   102,422
Harley-Davidson, Inc.
  2,408   72,216
Hasbro, Inc.(c)
  1,276   59,219
Hilton Worldwide Holdings, Inc.
  790   132,341
Home Depot, Inc. (The)
  6,468   2,027,653
Hyatt Hotels Corp., Class A(c)
  677   77,693
Kohl’s Corp.
  9,178   215,224
Lear Corp.
  1,211   161,971
Lennar Corp., Class A
  4,005   512,320
Lithia Motors, Inc., Class A
  809   215,995
LKQ Corp.
  3,360   149,621
Lowe’s Cos., Inc.
  6,662   1,324,605
lululemon athletica, inc.(b)
  271   121,083
Macy’s, Inc.(c)
  15,542   246,496
Marriott International, Inc., Class A
  1,154   233,916
Marriott Vacations Worldwide Corp.
  570   41,553
McDonald’s Corp.
  2,138   602,574
MercadoLibre, Inc. (Brazil)(b)
  95   153,944
MGM Resorts International
  5,378   212,108
Mohawk Industries, Inc.(b)
  1,401   123,722
Murphy USA, Inc.
  478   176,645
Newell Brands, Inc.
  11,142   85,013
NIKE, Inc., Class B
  6,239   687,975
NVR, Inc.(b)
  29   178,506
ODP Corp. (The)(b)(c)
  1,613   73,472
O’Reilly Automotive, Inc., Class R(b)
  310   304,538
Penn Entertainment, Inc.(b)(c)
  3,913   96,103
Penske Automotive Group, Inc.(c)
  471   70,320
Phinia, Inc.
  718   18,309
Polaris, Inc.
  723   59,626
Pool Corp.(c)
  190   65,991
PulteGroup, Inc.
  2,933   259,336
PVH Corp.(c)
  1,267   123,887
Qurate Retail, Inc., Class A(b)
  114,285   88,228
Ralph Lauren Corp.
  882   114,113
Ross Stores, Inc.
  1,943   253,328
Service Corp. International(c)
  1,402   85,901
Signet Jewelers Ltd.(c)
  1,251   102,807
Starbucks Corp.
  4,098   406,931
Tapestry, Inc.
  3,319   105,113
Taylor Morrison Home Corp., Class A(b)
  2,344   105,714
Tempur Sealy International, Inc.(c)
  1,904   76,769
Tesla, Inc.(b)
  4,636   1,113,011
Thor Industries, Inc.(c)
  1,482   146,822
TJX Cos., Inc. (The)
  6,733   593,245
Toll Brothers, Inc.
  2,033   174,614
Tractor Supply Co.
  703   142,716
Ulta Beauty, Inc.(b)
  304   129,501
VF Corp.
  5,127   85,775
Whirlpool Corp.
  1,697   184,803
Williams-Sonoma, Inc.(c)
  1,203   225,611
Yum! Brands, Inc.
  741   93,033
        26,645,502
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Consumer Staples-7.75%
Albertson’s Cos., Inc., Class A
  12,489   $271,886
Altria Group, Inc.
  15,600   655,824
Andersons, Inc. (The)
  1,786   89,050
Archer-Daniels-Midland Co.
  10,624   783,308
BJ’s Wholesale Club Holdings, Inc.(b)(c)
  1,626   105,007
Brown-Forman Corp., Class B
  1,419   83,352
Bunge Global S.A.
  2,488   273,357
Campbell Soup Co.
  1,535   61,676
Casey’s General Stores, Inc.
  463   127,510
Church & Dwight Co., Inc.
  1,034   99,915
Clorox Co. (The)
  521   74,685
Coca-Cola Co. (The)
  16,586   969,286
Colgate-Palmolive Co.
  3,719   292,946
Conagra Brands, Inc.
  4,942   139,809
Constellation Brands, Inc., Class A
  1,291   310,473
Costco Wholesale Corp.
  2,890   1,713,019
Darling Ingredients, Inc.(b)
  1,249   54,794
Dollar General Corp.
  1,767   231,689
Dollar Tree, Inc.(b)(c)
  1,524   188,351
Estee Lauder Cos., Inc. (The), Class A
  1,497   191,152
General Mills, Inc.
  4,071   259,160
Hershey Co. (The)
  687   129,101
Hormel Foods Corp.
  4,146   126,826
Ingredion, Inc.
  639   65,491
JM Smucker Co. (The)
  1,004   110,169
Kellanova
  2,665   140,019
Keurig Dr Pepper, Inc.
  8,111   256,064
Kimberly-Clark Corp.
  1,696   209,846
Kraft Heinz Co. (The)
  16,999   596,835
Kroger Co. (The)
  18,672   826,609
McCormick & Co., Inc.
  1,154   74,814
Molson Coors Beverage Co., Class B
  3,187   196,128
Mondelez International, Inc., Class A
  8,182   581,413
Monster Beverage Corp.(b)
  1,473   81,236
PepsiCo, Inc.
  5,926   997,287
Performance Food Group Co.(b)
  4,141   269,372
Philip Morris International, Inc.
  8,362   780,676
Procter & Gamble Co. (The)
  13,135   2,016,485
Sysco Corp.
  5,798   418,442
Target Corp.
  6,615   885,153
Tyson Foods, Inc., Class A
  9,997   468,259
United Natural Foods, Inc.(b)(c)
  5,433   79,050
US Foods Holding Corp.(b)
  4,470   195,920
Walgreens Boots Alliance, Inc.
  25,493   508,330
Walmart, Inc.
  16,210   2,523,735
WK Kellogg Co.
  672   7,526
        19,521,035
Energy-11.16%
Antero Resources Corp.(b)
  6,317   149,271
APA Corp.
  7,039   253,404
Baker Hughes Co., Class A
  11,274   380,497
Cheniere Energy, Inc.
  2,647   482,151
Chesapeake Energy Corp.(c)
  2,595   208,404
Chevron Corp.
  26,562   3,814,303
Chord Energy Corp.
  690   111,877
Civitas Resources, Inc.(c)
  1,443   99,120
CNX Resources Corp.(b)(c)
  4,658   97,166
ConocoPhillips
  18,777   2,170,058
Coterra Energy, Inc.
  13,763   361,279
CVR Energy, Inc.(c)
  3,423   108,749
Delek US Holdings, Inc.
  4,794   130,109
Devon Energy Corp.
  8,712   391,779
  Shares   Value
Energy-(continued)
Diamondback Energy, Inc.
  2,894   $446,863
EOG Resources, Inc.
  6,874   845,983
EQT Corp.
  5,596   223,616
Exxon Mobil Corp.
  56,393   5,793,817
Halliburton Co.
  6,848   253,581
Hess Corp.
  1,507   211,824
HF Sinclair Corp.
  6,119   321,125
Kinder Morgan, Inc.
  30,076   528,435
Marathon Oil Corp.
  15,943   405,430
Marathon Petroleum Corp.
  16,778   2,503,110
Matador Resources Co.
  1,623   93,939
Murphy Oil Corp.
  2,769   118,430
Occidental Petroleum Corp.
  14,055   831,353
ONEOK, Inc.
  5,032   346,453
Ovintiv, Inc.
  6,539   289,939
PBF Energy, Inc., Class A
  7,112   315,773
Phillips 66
  12,640   1,629,170
Pioneer Natural Resources Co.
  4,118   953,893
Range Resources Corp.(c)
  2,897   94,152
Schlumberger N.V.
  8,518   443,277
SM Energy Co.
  2,917   109,242
Southwestern Energy Co.(b)
  23,576   155,366
Targa Resources Corp.
  3,237   292,787
Valero Energy Corp.
  12,014   1,506,075
Williams Cos., Inc. (The)
  12,110   445,527
World Kinect Corp.
  9,963   209,622
        28,126,949
Financials-6.29%
Affiliated Managers Group, Inc.(c)
  634   85,939
Allstate Corp. (The)
  5,771   795,648
American Express Co.
  6,910   1,180,021
American Financial Group, Inc.
  1,425   163,006
Aon PLC, Class A
  1,053   345,900
Arch Capital Group Ltd.(b)
  3,584   299,945
Assurant, Inc.
  1,086   182,470
Berkshire Hathaway, Inc., Class B(b)
  4,589   1,652,040
Block, Inc., Class A(b)(c)
  3,089   195,935
Bread Financial Holdings, Inc.(c)
  2,672   75,083
Brown & Brown, Inc.
  1,007   75,263
Cboe Global Markets, Inc.
  529   96,378
Chubb Ltd.
  5,645   1,295,132
Cincinnati Financial Corp.
  1,907   196,021
Everest Group Ltd.
  474   194,601
First American Financial Corp.
  2,120   126,352
Fiserv, Inc.(b)
  4,605   601,459
FleetCor Technologies, Inc.(b)
  524   126,022
Franklin Resources, Inc.
  4,640   115,072
Hanover Insurance Group, Inc. (The)
  560   69,608
Hartford Financial Services Group, Inc. (The)
  5,997   468,726
Janus Henderson Group PLC(c)
  3,102   81,241
Lazard Ltd., Class A(c)
  2,753   82,535
LPL Financial Holdings, Inc.
  522   116,041
Markel Group, Inc.(b)
  161   231,693
Marsh & McLennan Cos., Inc.
  2,262   451,088
Mastercard, Inc., Class A
  2,358   975,811
Moody’s Corp.
  499   182,115
MSCI, Inc.
  212   110,420
Nasdaq, Inc.
  2,170   121,173
Old Republic International Corp.
  6,125   179,524
OneMain Holdings, Inc.
  4,201   177,702
PayPal Holdings, Inc.(b)
  10,590   610,090
Progressive Corp. (The)
  4,187   686,794
 
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Financials-(continued)
StoneX Group, Inc.(b)
  4,310   $263,470
T. Rowe Price Group, Inc.
  2,625   262,841
Travelers Cos., Inc. (The)
  3,612   652,399
Visa, Inc., Class A(c)
  6,702   1,720,269
W.R. Berkley Corp.
  2,474   179,489
Western Union Co. (The)
  6,544   76,107
Willis Towers Watson PLC
  1,440   354,672
        15,856,095
Health Care-14.76%
Abbott Laboratories
  9,585   999,620
AbbVie, Inc.
  10,702   1,523,858
Agilent Technologies, Inc.(c)
  1,248   159,494
Align Technology, Inc.(b)
  278   59,436
Amgen, Inc.
  4,117   1,110,108
AMN Healthcare Services, Inc.(b)(c)
  686   46,511
Avantor, Inc.(b)
  4,116   87,177
Baxter International, Inc.
  4,538   163,731
Becton, Dickinson and Co.
  1,674   395,365
Biogen, Inc.(b)
  753   176,262
BioNTech SE, ADR (Germany)(b)
  5,093   511,388
Boston Scientific Corp.(b)
  4,134   231,049
Bristol-Myers Squibb Co.
  21,348   1,054,164
Cardinal Health, Inc.
  11,270   1,206,792
Cencora, Inc.
  5,552   1,129,110
Centene Corp.(b)
  16,442   1,211,447
Cigna Group (The)
  6,948   1,826,490
Cooper Cos., Inc. (The)
  215   72,438
CVS Health Corp.
  38,714   2,630,616
Danaher Corp.
  2,862   639,113
DaVita, Inc.(b)
  1,610   163,351
DENTSPLY SIRONA, Inc.
  1,990   63,183
DexCom, Inc.(b)
  575   66,424
Edwards Lifesciences Corp.(b)
  1,765   119,508
Elanco Animal Health, Inc.(b)(c)
  10,139   119,437
Elevance Health, Inc.
  2,960   1,419,290
Eli Lilly and Co.
  1,462   864,100
Fortrea Holdings, Inc.(b)(c)
  1,453   42,776
Gilead Sciences, Inc.
  9,665   740,339
HCA Healthcare, Inc.
  2,274   569,592
Henry Schein, Inc.(b)
  1,500   100,095
Hologic, Inc.(b)
  1,632   116,362
Humana, Inc.
  1,485   720,017
IDEXX Laboratories, Inc.(b)
  152   70,805
Illumina, Inc.(b)
  519   52,912
Intuitive Surgical, Inc.(b)
  753   234,063
IQVIA Holdings, Inc.(b)(c)
  1,121   240,006
Jazz Pharmaceuticals PLC(b)(c)
  516   61,007
Johnson & Johnson
  14,907   2,305,517
Laboratory Corp. of America Holdings
  1,296   281,115
McKesson Corp.
  3,735   1,757,542
Medtronic PLC
  10,766   853,421
Merck & Co., Inc.
  12,092   1,239,188
Mettler-Toledo International, Inc.(b)
  64   69,884
Moderna, Inc.(b)(c)
  3,556   276,301
Molina Healthcare, Inc.(b)
  719   262,838
Perrigo Co. PLC
  1,989   60,585
Pfizer, Inc.
  64,042   1,951,360
Quest Diagnostics, Inc.
  1,648   226,155
Regeneron Pharmaceuticals, Inc.(b)
  668   550,305
ResMed, Inc.
  282   44,480
STERIS PLC
  493   99,063
Stryker Corp.
  1,064   315,295
  Shares   Value
Health Care-(continued)
Teladoc Health, Inc.(b)(c)
  3,423   $62,093
Tenet Healthcare Corp.(b)(c)
  1,700   117,317
Thermo Fisher Scientific, Inc.
  1,657   821,474
UnitedHealth Group, Inc.
  6,801   3,760,749
Universal Health Services, Inc., Class B
  1,353   186,010
Vertex Pharmaceuticals, Inc.(b)
  748   265,398
Viatris, Inc.
  36,014   330,609
Zimmer Biomet Holdings, Inc.
  1,259   146,434
Zoetis, Inc.
  1,194   210,944
        37,191,513
Industrials-10.19%
3M Co.
  6,767   670,407
A.O. Smith Corp.
  998   75,209
AECOM
  1,470   130,624
AGCO Corp.
  812   92,186
AMETEK, Inc.
  887   137,689
Atkore, Inc.(b)(c)
  524   68,068
Automatic Data Processing, Inc.
  1,648   378,908
Avis Budget Group, Inc.(b)
  1,878   343,392
Boeing Co. (The)(b)
  920   213,100
Boise Cascade Co.
  1,050   114,765
Booz Allen Hamilton Holding Corp.
  938   117,372
Broadridge Financial Solutions, Inc.
  438   84,893
Builders FirstSource, Inc.(b)
  2,862   383,823
C.H. Robinson Worldwide, Inc.
  2,107   172,879
CACI International, Inc., Class A(b)
  218   69,967
Carlisle Cos., Inc.
  424   118,894
Carrier Global Corp.
  6,251   324,802
Caterpillar, Inc.
  4,026   1,009,399
Cintas Corp.
  334   184,785
Copart, Inc.(b)
  1,672   83,968
CSX Corp.
  17,137   553,525
Cummins, Inc.
  1,380   309,341
Deere & Co.
  2,031   740,117
Delta Air Lines, Inc.
  2,659   98,197
Dover Corp.
  894   126,197
Eaton Corp. PLC
  1,962   446,728
EMCOR Group, Inc.
  633   134,525
Emerson Electric Co.
  4,071   361,912
Equifax, Inc.
  423   92,091
Expeditors International of Washington, Inc.
  1,886   226,961
Fastenal Co.
  2,094   125,577
FedEx Corp.
  3,923   1,015,390
Fluor Corp.(b)
  2,644   100,551
Fortive Corp.
  2,188   150,928
Fortune Brands Innovations, Inc.
  1,501   102,713
General Dynamics Corp.
  2,704   667,807
General Electric Co.
  7,702   938,104
GXO Logistics, Inc.(b)
  1,150   64,699
Hertz Global Holdings, Inc.(b)(c)
  4,692   39,131
Honeywell International, Inc.
  3,713   727,451
Howmet Aerospace, Inc.
  1,956   102,886
Hubbell, Inc.
  252   75,600
Huntington Ingalls Industries, Inc.
  475   112,584
Illinois Tool Works, Inc.
  1,311   317,537
Ingersoll Rand, Inc.
  2,264   161,718
J.B. Hunt Transport Services, Inc.
  702   130,060
Jacobs Solutions, Inc.
  1,194   151,853
Johnson Controls International PLC
  5,983   315,902
Knight-Swift Transportation Holdings, Inc.
  2,250   121,005
L3Harris Technologies, Inc.
  2,250   429,322
Landstar System, Inc.
  410   70,787
 
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
Leidos Holdings, Inc.
  1,684   $180,727
Lockheed Martin Corp.
  2,252   1,008,378
ManpowerGroup, Inc.
  1,867   138,550
Masco Corp.
  2,205   133,513
Matson, Inc.
  1,224   117,222
MDU Resources Group, Inc.
  2,470   47,276
Norfolk Southern Corp.
  2,161   471,444
Northrop Grumman Corp.
  1,047   497,493
Old Dominion Freight Line, Inc.
  441   171,575
Oshkosh Corp.
  1,195   116,262
Otis Worldwide Corp.
  1,443   123,795
Owens Corning
  1,393   188,863
PACCAR, Inc.
  4,565   419,158
Parker-Hannifin Corp.
  741   320,986
Paychex, Inc.
  923   112,578
Quanta Services, Inc.
  801   150,836
Regal Rexnord Corp.
  724   86,735
Republic Services, Inc.
  1,127   182,394
Robert Half, Inc.
  1,178   96,572
Rockwell Automation, Inc.
  414   114,032
RTX Corp.(c)
  13,199   1,075,455
Ryder System, Inc.
  1,876   200,995
Science Applications International Corp.
  746   87,588
Snap-on, Inc.
  382   104,932
Southwest Airlines Co.(c)
  2,221   56,791
SS&C Technologies Holdings, Inc.
  2,002   112,633
Stanley Black & Decker, Inc.
  2,911   264,610
Textron, Inc.
  2,947   225,917
Trane Technologies PLC
  1,377   310,390
TransDigm Group, Inc.
  108   103,990
Uber Technologies, Inc.(b)
  5,138   289,680
UFP Industries, Inc.
  980   107,437
Union Pacific Corp.
  4,530   1,020,473
United Airlines Holdings, Inc.(b)
  1,770   69,738
United Parcel Service, Inc., Class B
  7,388   1,120,095
United Rentals, Inc.
  708   337,022
Veralto Corp.(b)
  954   73,697
Verisk Analytics, Inc.
  674   162,724
Vestis Corp.(b)
  1,370   25,085
W.W. Grainger, Inc.
  207   162,741
Wabtec Corp.
  1,674   195,121
Waste Connections, Inc.
  1,175   159,201
Waste Management, Inc.
  2,178   372,416
Watsco, Inc.(c)
  203   77,593
WESCO International, Inc.
  737   114,861
WillScot Mobile Mini Holdings Corp.(b)
  1,495   62,371
XPO, Inc.(b)
  1,488   128,385
Xylem, Inc.
  699   73,486
ZIM Integrated Shipping Services Ltd. (Israel)(c)
  17,407   121,849
        25,681,994
Information Technology-19.28%
Accenture PLC, Class A
  3,402   1,133,342
Adobe, Inc.(b)
  1,838   1,123,036
Advanced Micro Devices, Inc.(b)
  6,400   775,424
Akamai Technologies, Inc.(b)
  1,362   157,352
Amdocs Ltd.
  1,013   84,859
Amkor Technology, Inc.
  3,395   95,637
Amphenol Corp., Class A
  2,711   246,674
Analog Devices, Inc.
  3,551   651,182
ANSYS, Inc.(b)
  255   74,807
Apple, Inc.
  59,447   11,291,958
Applied Materials, Inc.
  5,274   789,940
  Shares   Value
Information Technology-(continued)
Arista Networks, Inc.(b)
  617   $135,561
Arrow Electronics, Inc.(b)(c)
  1,958   232,141
Autodesk, Inc.(b)
  751   164,041
Avnet, Inc.
  3,184   148,884
Broadcom, Inc.
  2,081   1,926,444
Cadence Design Systems, Inc.(b)
  516   141,007
CDW Corp.
  1,004   211,724
Cisco Systems, Inc.
  31,771   1,537,081
Cognizant Technology Solutions Corp., Class A
  5,128   360,909
Corning, Inc.
  8,963   255,356
Dell Technologies, Inc., Class C
  15,255   1,157,397
Dropbox, Inc., Class A(b)
  3,122   87,978
DXC Technology Co.(b)
  6,993   161,748
Flex Ltd.(b)
  8,033   204,440
Fortinet, Inc.(b)
  1,959   102,965
Gartner, Inc.(b)
  307   133,496
Gen Digital, Inc.
  4,335   95,717
GoDaddy, Inc., Class A(b)
  1,260   126,076
Hewlett Packard Enterprise Co.
  30,888   522,316
HP, Inc.
  19,979   586,184
Intel Corp.
  59,918   2,678,335
International Business Machines Corp.
  7,779   1,233,438
Intuit, Inc.
  961   549,173
Jabil, Inc.
  2,801   323,011
Juniper Networks, Inc.
  2,998   85,293
Keysight Technologies, Inc.(b)
  788   107,081
KLA Corp.
  825   449,312
Kyndryl Holdings, Inc.(b)
  7,945   143,248
Lam Research Corp.
  695   497,564
Marvell Technology, Inc.
  4,328   241,199
Microchip Technology, Inc.
  2,935   244,896
Micron Technology, Inc.
  14,322   1,090,191
Microsoft Corp.
  20,936   7,932,860
Motorola Solutions, Inc.
  468   151,103
NetApp, Inc.
  1,964   179,490
NVIDIA Corp.
  2,834   1,325,462
ON Semiconductor Corp.(b)(c)
  1,731   123,472
Oracle Corp.
  6,748   784,185
Palo Alto Networks, Inc.(b)(c)
  706   208,334
Qorvo, Inc.(b)
  1,383   133,460
QUALCOMM, Inc.
  8,343   1,076,664
Roper Technologies, Inc.
  351   188,926
Salesforce, Inc.(b)
  3,960   997,524
Sanmina Corp.(b)
  1,291   64,692
Seagate Technology Holdings PLC
  2,929   231,684
ServiceNow, Inc.(b)
  308   211,208
Silicon Laboratories, Inc.(b)(c)
  493   51,947
Skyworks Solutions, Inc.
  1,541   149,369
Synopsys, Inc.(b)
  417   226,527
TD SYNNEX Corp.
  1,653   163,052
TE Connectivity Ltd.
  2,548   333,788
Teledyne Technologies, Inc.(b)
  217   87,442
Teradyne, Inc.(c)
  984   90,754
Texas Instruments, Inc.
  4,411   673,604
Trimble, Inc.(b)
  1,606   74,518
Twilio, Inc., Class A(b)(c)
  1,718   111,120
Western Digital Corp.(b)
  5,111   246,912
Workday, Inc., Class A(b)
  522   141,316
Xerox Holdings Corp.(c)
  6,127   85,717
Zebra Technologies Corp., Class A(b)
  300   71,094
Zoom Video Communications, Inc., Class A(b)
  1,681   114,022
        48,588,663
 
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
November 30, 2023
(Unaudited)
  Shares   Value
Materials-4.67%
Air Products and Chemicals, Inc.
  1,106   $299,228
Albemarle Corp.(c)
  533   64,637
Alcoa Corp.(c)
  3,933   105,640
Amcor PLC
  19,137   181,419
Avery Dennison Corp.
  642   124,869
Ball Corp.
  3,000   165,870
Berry Global Group, Inc.
  2,618   173,102
Celanese Corp.(c)
  1,428   198,006
CF Industries Holdings, Inc.
  3,850   289,327
Chemours Co. (The)
  2,841   77,929
Cleveland-Cliffs, Inc.(b)(c)
  17,027   292,183
Commercial Metals Co.
  1,928   87,396
Corteva, Inc.
  6,276   283,675
Crown Holdings, Inc.
  1,700   146,217
Dow, Inc.
  15,469   800,521
DuPont de Nemours, Inc.
  5,781   413,573
Eastman Chemical Co.
  2,339   196,078
Ecolab, Inc.
  1,078   206,685
FMC Corp.
  741   39,762
Freeport-McMoRan, Inc.
  13,299   496,319
Graphic Packaging Holding Co.
  3,124   70,821
Huntsman Corp.
  5,098   125,411
International Flavors & Fragrances, Inc.
  3,007   226,668
International Paper Co.
  9,270   342,434
Linde PLC
  2,871   1,187,934
Louisiana-Pacific Corp.
  1,856   113,197
LyondellBasell Industries N.V., Class A
  5,924   563,372
Martin Marietta Materials, Inc.
  291   135,196
Mosaic Co. (The)
  9,070   325,522
Newmont Corp.
  9,189   369,306
Nucor Corp.
  5,276   896,762
Olin Corp.
  3,092   145,757
Packaging Corp. of America
  1,025   172,210
PPG Industries, Inc.
  1,384   196,514
Reliance Steel & Aluminum Co.
  841   231,494
Sherwin-Williams Co. (The)
  1,115   310,862
Sonoco Products Co.
  1,125   62,055
Steel Dynamics, Inc.
  3,299   393,010
Ternium S.A., ADR (Mexico)
  6,374   251,964
United States Steel Corp.(c)
  13,583   487,630
Vulcan Materials Co.
  618   131,980
WestRock Co.
  9,268   381,564
        11,764,099
Real Estate-0.66%
CBRE Group, Inc., Class A(b)
  3,598   284,098
CoStar Group, Inc.(b)
  890   73,906
Equinix, Inc.
  273   222,498
Host Hotels & Resorts, Inc.(c)
  4,380   76,519
Iron Mountain, Inc.
  1,685   108,093
Jones Lang LaSalle, Inc.(b)(c)
  1,178   183,202
Public Storage
  1,110   287,223
  Shares   Value
Real Estate-(continued)
SBA Communications Corp., Class A
  442   $109,156
Weyerhaeuser Co.
  8,206   257,258
Zillow Group, Inc., Class C(b)(c)
  1,482   60,673
        1,662,626
Utilities-2.23%
AES Corp. (The)(c)
  7,351   126,511
Alliant Energy Corp.
  1,705   86,222
Ameren Corp.
  2,264   175,664
American Electric Power Co., Inc.
  5,262   418,592
CenterPoint Energy, Inc.
  6,533   184,688
CMS Energy Corp.
  2,385   135,373
Consolidated Edison, Inc.
  3,869   348,636
DTE Energy Co.
  2,208   229,875
Edison International
  3,876   259,653
Entergy Corp.
  2,490   252,511
Eversource Energy
  3,479   206,687
FirstEnergy Corp.
  6,135   226,627
NiSource, Inc.
  4,458   114,303
NRG Energy, Inc.
  6,340   303,306
OGE Energy Corp.
  2,206   77,320
PPL Corp.
  9,386   245,162
Public Service Enterprise Group, Inc.
  4,143   258,647
Sempra
  5,692   414,776
Southern Co. (The)
  9,097   645,705
UGI Corp.(c)
  4,434   97,504
Vistra Corp.
  8,034   284,484
WEC Energy Group, Inc.
  2,513   210,137
Xcel Energy, Inc.
  5,030   306,025
        5,608,408
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.92%

(Cost $248,218,611)
  251,753,948
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-3.86%
Invesco Private Government Fund, 5.32%(d)(e)(f)
  2,558,097   2,558,097
Invesco Private Prime Fund, 5.55%(d)(e)(f)
  7,167,462   7,170,329
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $9,726,825)
  9,728,426
TOTAL INVESTMENTS IN SECURITIES-103.78%

(Cost $257,945,436)
  261,482,374
OTHER ASSETS LESS LIABILITIES-(3.78)%
  (9,514,146)
NET ASSETS-100.00%
  $251,968,228
 
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
November 30, 2023
(Unaudited)
Investment Abbreviations:
ADR -American Depositary Receipt
    
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) 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 $-   $1,332,796   $(1,332,796)   $-   $-   $-   $831
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 2,195,569   7,157,848   (6,795,320)   -   -   2,558,097   37,622*
Invesco Private Prime Fund 5,653,488   17,341,355   (15,827,909)   1,706   1,689   7,170,329   101,793*
Total $7,849,057   $25,831,999   $(23,956,025)   $1,706   $1,689   $9,728,426   $140,246
    
* 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.
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, for Invesco RAFITM Strategic US ETF. As of November 30, 2023, all of the securities in Invesco Bloomberg Pricing Power ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). 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 RAFITM Strategic US ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $251,753,948   $-   $-   $251,753,948
Money Market Funds -   9,728,426   -   9,728,426
Total Investments $251,753,948   $9,728,426   $-   $261,482,374