0001752724-23-220726.txt : 20230928 0001752724-23-220726.hdr.sgml : 20230928 20230928092636 ACCESSION NUMBER: 0001752724-23-220726 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230731 FILED AS OF DATE: 20230928 DATE AS OF CHANGE: 20230928 PERIOD START: 20240430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INVESCO EXCHANGE-TRADED FUND TRUST CENTRAL INDEX KEY: 0001209466 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21265 FILM NUMBER: 231286530 BUSINESS ADDRESS: STREET 1: 3500 LACEY ROAD STREET 2: SUITE 700 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 BUSINESS PHONE: 800-983-0903 MAIL ADDRESS: STREET 1: 3500 LACEY ROAD STREET 2: SUITE 700 CITY: DOWNERS GROVE STATE: IL ZIP: 60515 FORMER COMPANY: FORMER CONFORMED NAME: POWERSHARES EXCHANGE TRADED FUND TRUST DATE OF NAME CHANGE: 20021210 0001209466 S000012109 Invesco NASDAQ Internet ETF C000033024 Invesco NASDAQ Internet ETF PNQI NPORT-P 1 primary_doc.xml NPORT-P false 0001209466 XXXXXXXX S000012109 C000033024 Invesco Exchange-Traded Fund Trust 811-21265 0001209466 QPT4TMG79RF3UWNU0R52 3500 Lacey Road Suite 700 Downers Grove 60515 800-983-0903 Invesco NASDAQ Internet ETF S000012109 549300D0OD8WYOH2QQ27 2024-04-30 2023-07-31 N 670258675.14 52672531.89 617586143.25 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 1419.02000000 N JOYY Inc. 549300N6CHVU5CQZPW24 JOYY Inc., ADR 46591M109 15609.00000000 NS USD 542568.84000000 0.087853143392 Long EC CORP KY N 1 N N N PayPal Holdings, Inc. 5493005X2GO78EFZ3E94 PayPal Holdings, Inc. 70450Y103 299624.00000000 NS USD 22717491.68000000 3.678432867753 Long EC CORP US N 1 N N N CoStar Group, Inc. 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ZXTILKJKG63JELOEG630 Amazon.com, Inc. 023135106 358192.00000000 NS USD 47883106.56000000 7.753267634539 Long EC CORP US N 1 N N N Sea Ltd. 529900OM6JLLW44YKI15 Sea Ltd., ADR 81141R100 102404.00000000 NS USD 6811914.08000000 1.102990109874 Long EC CORP KY N 1 N N Overstock.com, Inc. 549300ACR0DL9U7EI710 Overstock.com, Inc. 690370101 12150.00000000 NS USD 443110.50000000 0.071748776238 Long EC CORP US N 1 N N Open Text Corp. 549300HP7ONDQODZJV16 Open Text Corp. 683715106 72805.00000000 NS USD 3126974.75000000 0.506322038500 Long EC CORP CA N 1 N N Alphabet Inc. 5493006MHB84DD0ZWV18 Alphabet Inc., Class C 02079K107 350055.00000000 NS USD 46595821.05000000 7.544829423275 Long EC CORP US N 1 N N N Lands' End, Inc. 54930016WOL7P2P67Q43 Lands' End, Inc. 51509F105 8726.00000000 NS USD 81849.88000000 0.013253192432 Long EC CORP US N 1 N N DoorDash, Inc. 549300NUQ43FGGSK5051 DoorDash, Inc., Class A 25809K105 96686.00000000 NS USD 8778121.94000000 1.421359924593 Long EC CORP US N 1 N N Invesco Government & Agency Portfolio 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio, Institutional Class 825252885 1341.78000000 NS USD 1341.78000000 0.000217261998 Long STIV RF US N 1 N N N Dropbox, Inc. 549300JCDF7UAR6TJR51 Dropbox, Inc., Class A 26210C104 72118.00000000 NS USD 1943580.10000000 0.314705911271 Long EC CORP US N 1 N N Uber Technologies Inc. 549300B2FTG34FILDR98 Uber Technologies Inc. 90353T100 543594.00000000 NS USD 26886159.24000000 4.353426567913 Long EC CORP US N 1 N N Spotify Technology S.A. 549300B4X0JHWV0DTD60 Spotify Technology S.A. 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N/A GoodRx Holdings, Inc., Class A 38246G108 22359.00000000 NS USD 206597.16000000 0.033452363246 Long EC CORP US N 1 N N Zillow Group, Inc. 2549002XEELQDIR6FU05 Zillow Group, Inc., Class C 98954M200 45883.00000000 NS USD 2485023.28000000 0.402376786973 Long EC CORP US N 1 N N 2U, Inc. 5493008RVTXVR43PYF84 2U, Inc. 90214J101 21624.00000000 NS USD 103362.72000000 0.016736567218 Long EC CORP US N 1 N N Meta Platforms, Inc. 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CI7MUJI4USF3V0NJ1H64 Expedia Group, Inc. 30212P303 38346.00000000 NS USD 4698535.38000000 0.760790285104 Long EC CORP US N 1 N N Netflix, Inc. 549300Y7VHGU0I7CE873 Netflix, Inc. 64110L106 54627.00000000 NS USD 23979614.19000000 3.882796667653 Long EC CORP US N 1 N N N Global-e Online Ltd. N/A Global-e Online Ltd. M5216V106 44172.00000000 NS USD 1989948.60000000 0.322213932703 Long EC CORP IL N 1 N N Shutterstock, Inc. 529900G2TDIS56V0LO22 Shutterstock, Inc. 825690100 9699.00000000 NS USD 499013.55000000 0.080800638980 Long EC CORP US N 1 N N Invesco Private Prime Fund N/A Invesco Private Prime Fund N/A 37632299.57000000 NS USD 37632299.57000000 6.093449469569 Long STIV PF US N 2 N N Wix.com Ltd. 5493008P6N29Q1AG9464 Wix.com Ltd. M98068105 15271.00000000 NS USD 1440360.72000000 0.233224261221 Long EC CORP IL N 1 N N N Alibaba Group Holding Ltd. 5493001NTNQJDH60PM02 Alibaba Group Holding Ltd., ADR 01609W102 232427.00000000 NS USD 23744742.32000000 3.844766042684 Long EC CORP KY N 1 N N Trip.com Group Ltd. 2549004RMYDSRQL4KW41 Trip.com Group Ltd., ADR 89677Q107 108455.00000000 NS USD 4450993.20000000 0.720708074273 Long EC CORP KY N 1 N N New Relic, Inc. 549300AB8FY2HQILL804 New Relic, Inc. 64829B100 18883.00000000 NS USD 1585794.34000000 0.256772979337 Long EC CORP US N 1 N N Ziff Davis, Inc. 5493008OJYGLHD7MXA18 Ziff Davis, Inc. 48123V102 12714.00000000 NS USD 922019.28000000 0.149294036156 Long EC CORP US N 1 N N Akamai Technologies, Inc. OC1LZNN2LF5WTJ5RIL89 Akamai Technologies, Inc. 00971T101 40933.00000000 NS USD 3868168.50000000 0.626336672588 Long EC CORP US N 1 N N N Autohome Inc. 529900NYB6ZGZN3MVT56 Autohome Inc., ADR 05278C107 18041.00000000 NS USD 576770.77000000 0.093391144912 Long EC CORP KY N 1 N N N Brightcove Inc. 5493006VI8OCN44T4W47 Brightcove Inc. 10921T101 11529.00000000 NS USD 51765.21000000 0.008381860662 Long EC CORP US N 1 N N Coinbase Global, Inc. 5493004G3J2SC154DU06 Coinbase Global, Inc., Class A 19260Q107 50260.00000000 NS USD 4956138.60000000 0.802501586890 Long EC CORP US N 1 N N N Walt Disney Co. (The) 549300GZKULIZ0WOW665 Walt Disney Co. (The) 254687106 245443.00000000 NS USD 21817428.27000000 3.532693942125 Long EC CORP US N 1 N N N Microsoft Corp. INR2EJN1ERAN0W5ZP974 Microsoft Corp. 594918104 131512.00000000 NS USD 44177511.04000000 7.153254897773 Long EC CORP US N 1 N N N Redfin Corp. 549300HXWD3JEMZU3O57 Redfin Corp. 75737F108 29801.00000000 NS USD 446418.98000000 0.072284487739 Long EC CORP US N 1 N N Cimpress PLC 549300X1IFD75XISOR81 Cimpress PLC G2143T103 7077.00000000 NS USD 491851.50000000 0.079640954606 Long EC CORP IE N 1 N N N PROS Holdings, Inc. 549300LPE1KNL5RWKQ48 PROS Holdings, Inc. 74346Y103 12379.00000000 NS USD 470402.00000000 0.076167835878 Long EC CORP US N 1 N N MercadoLibre, Inc. 549300DKPDN9M5S8GB14 MercadoLibre, Inc. 58733R102 13483.00000000 NS USD 16692628.15000000 2.702882558562 Long EC CORP US N 1 N N N 1-800-FLOWERS.COM, Inc. N/A 1-800-FLOWERS.COM, Inc., Class A 68243Q106 10134.00000000 NS USD 87963.12000000 0.014243052724 Long EC CORP US N 1 N N Stitch Fix, Inc. 549300TNHOVBOJZIYE72 Stitch Fix, Inc., Class A 860897107 23420.00000000 NS USD 119676.20000000 0.019378057831 Long EC CORP US N 1 N N Alarm.com Holdings, Inc. 549300HIH92U1EKIHZ32 Alarm.com Holdings, Inc. 011642105 13406.00000000 NS USD 740145.26000000 0.119844861820 Long EC CORP US N 1 N N Yelp Inc. 5299007OU2DOSXPQBO35 Yelp Inc. 985817105 18513.00000000 NS USD 834010.65000000 0.135043614419 Long EC CORP US N 1 N N N Shopify Inc. 549300HGQ43STJLLP808 Shopify Inc., Class A 82509L107 322112.00000000 NS USD 21768328.96000000 3.524743745940 Long EC CORP CA N 1 N N N Booking Holdings Inc. FXM8FAOHMYDIPD38UZ17 Booking Holdings Inc. 09857L108 8602.00000000 NS USD 25554821.60000000 4.137855403542 Long EC CORP US N 1 N N N Chegg, Inc. 549300AKX7O8JG0O3G77 Chegg, Inc. 163092109 32188.00000000 NS USD 326064.44000000 0.052796592599 Long EC CORP US N 1 N N NetEase, Inc. 5299004AF4DSJDB0PA32 NetEase, Inc., ADR 64110W102 33834.00000000 NS USD 3679109.16000000 0.595724045983 Long EC CORP KY N 1 N N Zoom Video Communications, Inc. 549300T9GCHU0ODOM055 Zoom Video Communications, Inc., Class A 98980L101 67462.00000000 NS USD 4948337.70000000 0.801238459457 Long EC CORP US N 1 N N N DocuSign, Inc. 549300Q7PVDWRZ39JG09 DocuSign, Inc. 256163106 54403.00000000 NS USD 2927969.46000000 0.474098956396 Long EC CORP US N 1 N N N Bumble Inc. N/A Bumble Inc., Class A 12047B105 36998.00000000 NS USD 685202.96000000 0.110948564421 Long EC CORP US N 1 N N JD.com, Inc. 549300HVTWB0GJZ16V92 JD.com, Inc., ADR 47215P106 122085.00000000 NS USD 5043331.35000000 0.816619900741 Long EC CORP KY N 1 N N Wayfair Inc. 54930027N9ZAVYFDHK53 Wayfair Inc., Class A 94419L101 23284.00000000 NS USD 1813125.08000000 0.293582539021 Long EC CORP US N 1 N N Hello Group Inc. 549300YMGLID32W48529 Hello Group Inc., ADR 423403104 46679.00000000 NS USD 497131.35000000 0.080495871779 Long EC CORP KY N 1 N N MakeMyTrip Ltd. 529900DNT8HNJ7RYUO60 MakeMyTrip Ltd. V5633W109 17638.00000000 NS USD 507445.26000000 0.082165907630 Long EC CORP MU N 1 N N Fastly, Inc. 549300E2FZC83FJ3H565 Fastly, Inc., Class A 31188V100 34148.00000000 NS USD 627298.76000000 0.101572674007 Long EC CORP US N 1 N N Salesforce, Inc. RCGZFPDMRW58VJ54VR07 Salesforce, Inc. 79466L302 193331.00000000 NS USD 43501408.31000000 7.043779849249 Long EC CORP US N 1 N N N Chewy, Inc. 254900NPQSTG9I422879 Chewy, Inc., Class A 16679L109 31259.00000000 NS USD 1059680.10000000 0.171584176811 Long EC CORP US N 1 N N Roku, Inc. 549300KR6ITU0YIR1T71 Roku, Inc. 77543R102 33175.00000000 NS USD 3193757.25000000 0.517135509743 Long EC CORP US N 1 N N Snap Inc. 549300JNC0L6VP8A2Q35 Snap Inc., Class A 83304A106 362393.00000000 NS USD 4116784.48000000 0.666592753900 Long EC CORP US N 1 N N DLocal Ltd. N/A DLocal Ltd. G29018101 43628.00000000 NS USD 661836.76000000 0.107165092227 Long EC CORP KY N 1 N N eBay Inc. OML71K8X303XQONU6T67 eBay Inc. 278642103 143805.00000000 NS USD 6400760.55000000 1.036415829590 Long EC CORP US N 1 N N N 2023-08-30 Invesco Exchange-Traded Fund Trust Sheri Morris Sheri Morris Vice President XXXX NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco DWA Basic Materials Momentum ETF (PYZ)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Aluminum-2.27%
Century Aluminum Co.(b)(c)
  202,851   $1,886,514
Kaiser Aluminum Corp.
  22,034   1,789,161
        3,675,675
Automotive Retail-3.18%
Valvoline, Inc.
  135,416   5,141,745
Commodity Chemicals-17.37%
Cabot Corp.(c)
  46,054   3,269,834
Dow, Inc.
  56,503   3,190,724
LyondellBasell Industries N.V., Class A
  36,429   3,601,371
Olin Corp.
  126,048   7,270,449
Orion S.A. (Germany)
  88,812   1,946,759
PureCycle Technologies, Inc.(b)(c)
  400,261   4,739,090
Westlake Corp.(c)
  29,557   4,064,088
        28,082,315
Construction Materials-2.24%
Summit Materials, Inc., Class A(b)
  100,255   3,627,226
Copper-2.11%
Freeport-McMoRan, Inc.
  76,269   3,405,411
Diversified Chemicals-3.61%
Chemours Co. (The)(c)
  88,006   3,254,462
Huntsman Corp.
  87,051   2,591,508
        5,845,970
Diversified Metals & Mining-2.59%
Materion Corp.(c)
  18,184   2,166,442
Piedmont Lithium, Inc.(b)(c)
  37,000   2,029,820
        4,196,262
Fertilizers & Agricultural Chemicals-5.23%
Corteva, Inc.
  61,914   3,493,807
FMC Corp.
  27,053   2,603,310
Scotts Miracle-Gro Co. (The)(c)
  33,684   2,359,228
        8,456,345
Forest Products-1.90%
Louisiana-Pacific Corp.
  40,318   3,069,409
Gold-1.31%
Royal Gold, Inc.(c)
  17,666   2,122,393
Industrial Gases-3.86%
Air Products and Chemicals, Inc.
  20,419   6,234,533
Metal, Glass & Plastic Containers-2.40%
O-I Glass, Inc.(b)
  169,040   3,881,158
Paper & Plastic Packaging Products & Materials-3.68%
Avery Dennison Corp.(c)
  32,319   5,947,019
Paper Products-1.66%
Sylvamo Corp.
  54,840   2,690,999
Silver-1.43%
Hecla Mining Co.(c)
  400,718   2,308,136
Specialty Chemicals-18.05%
Albemarle Corp.
  22,438   4,763,138
  Shares   Value
Specialty Chemicals-(continued)
Avient Corp.
  91,764   $3,719,195
Ecolab, Inc.
  15,517   2,841,783
Element Solutions, Inc.
  113,959   2,388,581
H.B. Fuller Co.
  31,892   2,360,965
Innospec, Inc.
  18,530   1,985,304
NewMarket Corp.
  4,057   1,832,547
PPG Industries, Inc.
  19,868   2,859,005
Quaker Chemical Corp.(c)
  15,294   3,064,612
RPM International, Inc.
  32,612   3,369,146
        29,184,276
Steel-25.33%
ATI, Inc.(b)(c)
  96,974   4,623,720
Carpenter Technology Corp.
  72,456   4,337,216
Cleveland-Cliffs, Inc.(b)(c)
  170,099   3,002,247
Commercial Metals Co.(c)
  54,261   3,104,814
Nucor Corp.
  32,865   5,655,738
Reliance Steel & Aluminum Co.
  22,432   6,569,436
Ryerson Holding Corp.
  51,728   2,197,923
Steel Dynamics, Inc.
  55,787   5,945,779
United States Steel Corp.
  122,120   3,114,060
Worthington Industries, Inc.(c)
  32,192   2,402,167
        40,953,100
Timber REITs-1.79%
PotlatchDeltic Corp.(c)
  54,031   2,897,683
Total Common Stocks & Other Equity Interests

(Cost $136,073,045)
  161,719,655
Money Market Funds-0.10%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $156,525)
  156,525   156,525
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.11%

(Cost $136,229,570)
  161,876,180
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-13.56%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  6,136,928   6,136,928
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  15,780,671   15,780,671
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $21,916,854)
  21,917,599
TOTAL INVESTMENTS IN SECURITIES-113.67%

(Cost $158,146,424)
  183,793,779
OTHER ASSETS LESS LIABILITIES-(13.67)%
  (22,097,009)
NET ASSETS-100.00%
  $161,696,770
See accompanying notes which are an integral part of this schedule.
Invesco DWA Basic Materials Momentum ETF (PYZ)—(continued)
July 31, 2023
(Unaudited)
Investment Abbreviations:
REIT -Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $180,435   $1,009,648   $(1,033,558)   $-   $-   $156,525   $2,669
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 5,834,163   22,461,148   (22,158,383)   -   -   6,136,928   60,177*
Invesco Private Prime Fund 15,002,132   45,552,474   (44,774,173)   1,074   (836)   15,780,671   163,652*
Total $21,016,730   $69,023,270   $(67,966,114)   $1,074   $(836)   $22,074,124   $226,498
    
* 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 July 31, 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 DWA Consumer Cyclicals Momentum ETF (PEZ)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.90%
Advertising-2.45%
Interpublic Group of Cos., Inc. (The)(b)
  15,752   $539,191
Apparel, Accessories & Luxury Goods-3.68%
Tapestry, Inc.
  18,737   808,501
Automobile Manufacturers-2.42%
Tesla, Inc.(c)
  1,990   532,186
Automotive Parts & Equipment-2.05%
Modine Manufacturing Co.(b)(c)
  7,423   278,808
XPEL, Inc.(b)(c)(d)
  2,115   171,801
        450,609
Automotive Retail-11.26%
Carvana Co.(b)(c)
  35,227   1,618,681
Group 1 Automotive, Inc.(b)
  1,721   444,930
Penske Automotive Group, Inc.
  2,553   412,105
        2,475,716
Casinos & Gaming-5.38%
DraftKings, Inc., Class A(b)(c)
  23,115   734,595
Red Rock Resorts, Inc., Class A(b)
  9,243   448,285
        1,182,880
Diversified Support Services-1.45%
ACV Auctions, Inc., Class A(c)
  18,253   319,245
Education Services-2.96%
Duolingo, Inc.(c)
  4,194   650,867
Footwear-3.74%
Deckers Outdoor Corp.(c)
  1,514   823,147
Home Improvement Retail-6.70%
Floor & Decor Holdings, Inc., Class A(b)(c)
  5,795   665,556
Lowe’s Cos., Inc.
  3,448   807,763
        1,473,319
Homebuilding-26.90%
Century Communities, Inc.
  3,420   264,093
D.R. Horton, Inc.
  4,518   573,876
Green Brick Partners, Inc.(c)
  6,508   367,832
Installed Building Products, Inc.(b)
  1,961   290,267
KB Home
  10,207   550,872
Lennar Corp., Class A
  3,898   494,383
M/I Homes, Inc.(c)
  3,623   362,300
Meritage Homes Corp.
  1,970   293,432
NVR, Inc.(c)
  103   649,563
PulteGroup, Inc.
  7,454   629,043
Taylor Morrison Home Corp., Class A(b)(c)
  6,385   309,162
Toll Brothers, Inc.
  10,664   856,639
Tri Pointe Homes, Inc.(b)(c)
  8,570   273,212
        5,914,674
Homefurnishing Retail-0.85%
Arhaus, Inc.(b)(c)
  16,407   188,024
  Shares   Value
Hotels, Resorts & Cruise Lines-9.33%
Carnival Corp.(c)
  35,925   $676,827
Marriott International, Inc., Class A
  2,602   525,109
Royal Caribbean Cruises Ltd.(b)(c)
  7,790   849,967
        2,051,903
Movies & Entertainment-2.60%
Liberty Media Corp.-Liberty Formula One, Class C(c)
  7,886   572,524
Other Specialty Retail-0.85%
Winmark Corp.
  515   187,182
Passenger Airlines-1.59%
SkyWest, Inc.(c)
  7,945   349,501
Restaurants-13.87%
Chipotle Mexican Grill, Inc.(c)
  613   1,202,878
Darden Restaurants, Inc.(b)
  4,426   747,640
Jack in the Box, Inc.
  3,721   369,904
Kura Sushi USA, Inc., Class A(b)(c)
  2,169   215,837
Texas Roadhouse, Inc.
  4,598   512,907
        3,049,166
Trading Companies & Distributors-1.82%
Beacon Roofing Supply, Inc.(b)(c)
  4,662   399,393
Total Common Stocks & Other Equity Interests

(Cost $19,370,409)
  21,968,028
Money Market Funds-0.69%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(e)(f)

(Cost $152,554)
  152,554   152,554
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.59%

(Cost $19,522,963)
  22,120,582
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-22.80%
Invesco Private Government Fund, 5.24%(e)(f)(g)
  1,403,843   1,403,843
Invesco Private Prime Fund, 5.38%(e)(f)(g)
  3,609,883   3,609,883
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $5,013,726)
  5,013,726
TOTAL INVESTMENTS IN SECURITIES-123.39%

(Cost $24,536,689)
  27,134,308
OTHER ASSETS LESS LIABILITIES-(23.39)%
  (5,143,362)
NET ASSETS-100.00%
  $21,990,946
See accompanying notes which are an integral part of this schedule.
Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)—(continued)
July 31, 2023
(Unaudited)
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at July 31, 2023.
(c) Non-income producing security.
(d) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at July 31, 2023 represented less than 1% of the Fund’s Net Assets.
(e) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $144,833   $118,950   $(111,229)   $-   $-   $152,554   $1,970
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 1,999,085   7,345,035   (7,940,277)   -   -   1,403,843   21,868*
Invesco Private Prime Fund 5,121,565   13,887,331   (15,399,136)   44   79   3,609,883   59,259*
Total $7,265,483   $21,351,316   $(23,450,642)   $44   $79   $5,166,280   $83,097
    
* 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 July 31, 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 DWA Consumer Staples Momentum ETF (PSL)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Agricultural Products & Services-2.81%
Ingredion, Inc.(b)
  29,335   $3,263,812
Brewers-3.95%
Molson Coors Beverage Co., Class B
  65,597   4,576,703
Education Services-2.74%
Laureate Education, Inc., Class A
  247,602   3,174,258
Food Distributors-10.63%
Andersons, Inc. (The)
  72,037   3,516,847
Performance Food Group Co.(c)
  79,449   4,747,872
US Foods Holding Corp.(c)
  95,221   4,068,793
        12,333,512
Food Retail-7.53%
Casey’s General Stores, Inc.
  18,768   4,741,923
Sprouts Farmers Market, Inc.(b)(c)
  101,785   3,995,061
        8,736,984
Household Products-3.52%
Procter & Gamble Co. (The)
  26,150   4,087,245
Packaged Foods & Meats-32.09%
Conagra Brands, Inc.
  109,264   3,584,952
General Mills, Inc.
  52,628   3,933,417
Hershey Co. (The)(b)
  14,975   3,463,867
JM Smucker Co. (The)
  25,100   3,781,315
John B. Sanfilippo & Son, Inc.
  22,522   2,452,871
Kraft Heinz Co. (The)
  107,840   3,901,651
Lamb Weston Holdings, Inc.
  34,982   3,625,185
Mondelez International, Inc., Class A
  55,434   4,109,322
Post Holdings, Inc.(b)(c)
  35,779   3,051,949
Sovos Brands, Inc.(b)(c)
  149,349   2,658,412
Utz Brands, Inc.(b)
  160,025   2,680,419
        37,243,360
Personal Care Products-14.45%
BellRing Brands, Inc.(c)
  92,477   3,324,548
Coty, Inc., Class A(c)
  311,331   3,748,425
elf Beauty, Inc.(c)
  44,086   5,145,718
Inter Parfums, Inc.(b)
  30,440   4,552,607
        16,771,298
  Shares   Value
Soft Drinks & Non-alcoholic Beverages-14.55%
Celsius Holdings, Inc.(c)
  30,570   $4,423,479
Coca-Cola Consolidated, Inc.
  5,845   3,702,281
Monster Beverage Corp.(c)
  72,430   4,164,001
PepsiCo, Inc.
  24,514   4,595,394
        16,885,155
Specialized Consumer Services-4.28%
Service Corp. International(b)
  74,546   4,968,491
Tobacco-3.41%
Philip Morris International, Inc.
  39,630   3,951,903
Total Common Stocks & Other Equity Interests

(Cost $103,282,812)
  115,992,721
Money Market Funds-0.16%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $182,815)
  182,815   182,815
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.12%

(Cost $103,465,627)
  116,175,536
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-12.35%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  4,014,242   4,014,242
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  10,322,338   10,322,338
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $14,336,535)
  14,336,580
TOTAL INVESTMENTS IN SECURITIES-112.47%

(Cost $117,802,162)
  130,512,116
OTHER ASSETS LESS LIABILITIES-(12.47)%
  (14,466,936)
NET ASSETS-100.00%
  $116,045,180
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at July 31, 2023.
(c) Non-income producing security.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $146,579   $1,227,291   $(1,191,055)   $-   $-   $182,815   $2,477
See accompanying notes which are an integral part of this schedule.
Invesco DWA Consumer Staples Momentum ETF (PSL)—(continued)
July 31, 2023
(Unaudited)
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $3,940,344   $24,852,419   $(24,778,521)   $-   $-   $4,014,242   $44,705*
Invesco Private Prime Fund 10,132,313   39,024,381   (38,833,819)   60   (597)   10,322,338   119,445*
Total $14,219,236   $65,104,091   $(64,803,395)   $60   $(597)   $14,519,395   $166,627
    
* 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 July 31, 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 DWA Energy Momentum ETF (PXI)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.00%
Coal & Consumable Fuels-2.41%
CONSOL Energy, Inc.
  13,713   $1,021,893
Enviva, Inc.
  83,628   1,126,469
        2,148,362
Integrated Oil & Gas-6.62%
Chevron Corp.
  11,248   1,840,848
Exxon Mobil Corp.
  20,707   2,220,618
Occidental Petroleum Corp.(b)
  29,347   1,852,676
        5,914,142
Oil & Gas Drilling-5.90%
Diamond Offshore Drilling, Inc.(c)
  96,014   1,519,902
Transocean Ltd.(b)(c)
  278,588   2,451,574
Valaris Ltd.(b)(c)
  16,829   1,292,467
        5,263,943
Oil & Gas Equipment & Services-13.69%
Archrock, Inc.
  74,987   874,348
ChampionX Corp.(b)
  61,691   2,196,200
Expro Group Holdings N.V.(c)
  46,097   1,022,893
Helix Energy Solutions Group, Inc.(c)
  169,727   1,629,379
Oceaneering International, Inc.(c)
  46,294   1,039,300
Tidewater, Inc.(c)
  40,687   2,567,757
Weatherford International PLC(b)(c)
  34,753   2,887,974
        12,217,851
Oil & Gas Exploration & Production-40.28%
Chord Energy Corp.(b)
  24,725   3,877,869
Civitas Resources, Inc.(b)
  18,970   1,420,094
ConocoPhillips
  19,805   2,331,445
Denbury, Inc.(c)
  10,345   909,429
Devon Energy Corp.
  44,066   2,379,564
Diamondback Energy, Inc.
  14,845   2,186,965
EOG Resources, Inc.
  17,691   2,344,588
Gulfport Energy Corp.(c)
  9,888   1,013,026
Hess Corp.
  22,711   3,445,940
Kosmos Energy Ltd. (Ghana)(b)(c)
  169,506   1,203,493
Magnolia Oil & Gas Corp., Class A(b)
  52,755   1,168,523
Marathon Oil Corp.
  81,672   2,145,523
Murphy Oil Corp.
  47,087   2,037,455
Northern Oil and Gas, Inc.(b)
  53,927   2,123,106
Permian Resources Corp.(b)
  223,083   2,607,840
Pioneer Natural Resources Co.
  6,323   1,426,911
Texas Pacific Land Corp.(b)
  1,503   2,263,969
Vitesse Energy, Inc.
  42,669   1,074,832
        35,960,572
Oil & Gas Refining & Marketing-15.20%
Aemetis, Inc.(b)(c)
  192,073   1,417,499
  Shares   Value
Oil & Gas Refining & Marketing-(continued)
CVR Energy, Inc.(b)
  36,708   $1,348,652
HF Sinclair Corp.
  29,747   1,549,521
Marathon Petroleum Corp.
  26,001   3,458,653
Par Pacific Holdings, Inc.(c)
  44,103   1,388,363
PBF Energy, Inc., Class A
  92,939   4,409,026
        13,571,714
Oil & Gas Storage & Transportation-12.32%
Cheniere Energy, Inc.
  32,276   5,224,194
Equitrans Midstream Corp.
  181,555   1,882,725
NextDecade Corp.(b)(c)
  132,997   740,793
Targa Resources Corp.
  38,441   3,151,778
        10,999,490
Steel-3.58%
Alpha Metallurgical Resources, Inc.(b)
  11,723   2,030,658
Warrior Met Coal, Inc.
  26,438   1,169,882
        3,200,540
Total Common Stocks & Other Equity Interests

(Cost $76,456,709)
  89,276,614
Money Market Funds-0.18%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $156,347)
  156,347   156,347
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.18%

(Cost $76,613,056)
  89,432,961
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-20.66%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  5,163,577   5,163,577
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  13,277,768   13,277,768
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $18,440,698)
  18,441,345
TOTAL INVESTMENTS IN SECURITIES-120.84%

(Cost $95,053,754)
  107,874,306
OTHER ASSETS LESS LIABILITIES-(20.84)%
  (18,600,881)
NET ASSETS-100.00%
  $89,273,425
See accompanying notes which are an integral part of this schedule.
Invesco DWA Energy Momentum ETF (PXI)—(continued)
July 31, 2023
(Unaudited)
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at July 31, 2023.
(c) Non-income producing security.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $221,047   $899,997   $(964,697)   $-   $-   $156,347   $2,401
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 5,805,002   22,451,894   (23,093,319)   -   -   5,163,577   52,481*
Invesco Private Prime Fund 14,927,149   46,242,931   (47,892,286)   647   (673)   13,277,768   138,900*
Total $20,953,198   $69,594,822   $(71,950,302)   $647   $(673)   $18,597,692   $193,782
    
* 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 July 31, 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 DWA Financial Momentum ETF (PFI)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Asset Management & Custody Banks-5.54%
Ares Management Corp., Class A(b)
  10,945   $1,085,963
Victory Capital Holdings, Inc., Class A(b)
  9,742   323,045
WisdomTree, Inc.(b)
  39,886   277,606
        1,686,614
Commercial & Residential Mortgage Finance-8.13%
Federal Agricultural Mortgage Corp., Class C
  2,198   353,329
MGIC Investment Corp.
  25,866   432,997
Mr. Cooper Group, Inc.(c)
  12,588   729,726
NMI Holdings, Inc., Class A(c)
  9,923   265,043
Radian Group, Inc.(b)
  13,933   375,216
UWM Holdings Corp.(b)
  48,389   317,432
        2,473,743
Consumer Finance-12.66%
American Express Co.
  4,948   835,618
FirstCash Holdings, Inc.(b)
  3,956   376,928
SoFi Technologies, Inc.(c)
  78,369   897,325
Upstart Holdings, Inc.(b)(c)
  25,392   1,744,176
        3,854,047
Diversified Banks-7.00%
First Citizens BancShares, Inc., Class A
  732   1,047,712
JPMorgan Chase & Co.
  6,861   1,083,763
        2,131,475
Diversified REITs-1.33%
Essential Properties Realty Trust, Inc.(b)
  16,541   406,082
Financial Exchanges & Data-3.29%
FactSet Research Systems, Inc.
  1,663   723,472
Open Lending Corp., Class A(c)
  24,759   279,529
        1,003,001
Hotel & Resort REITs-1.92%
Ryman Hospitality Properties, Inc.(b)
  6,136   584,699
Industrial Machinery & Supplies & Components-2.61%
Symbotic, Inc.(b)(c)
  12,512   795,012
Insurance Brokers-14.80%
Aon PLC, Class A
  2,913   927,791
Arthur J. Gallagher & Co.
  4,233   909,248
Brown & Brown, Inc.
  13,401   944,100
Goosehead Insurance, Inc., Class A(b)(c)
  4,602   307,736
Marsh & McLennan Cos., Inc.
  5,441   1,025,193
Ryan Specialty Holdings, Inc., Class A(c)
  9,020   390,927
        4,504,995
Investment Banking & Brokerage-1.77%
Houlihan Lokey, Inc.(b)
  5,400   539,190
Life & Health Insurance-2.14%
Primerica, Inc.(b)
  3,062   651,287
Mortgage REITs-2.02%
Arbor Realty Trust, Inc.(b)
  36,308   613,968
Multi-Sector Holdings-1.84%
Berkshire Hathaway, Inc., Class B(c)
  1,594   561,024
Other Specialized REITs-3.30%
Gaming and Leisure Properties, Inc.
  8,584   407,397
VICI Properties, Inc.(b)
  19,004   598,246
        1,005,643
  Shares   Value
Property & Casualty Insurance-6.57%
Arch Capital Group Ltd.(c)
  9,741   $756,778
Lemonade, Inc.(b)(c)
  18,820   437,565
Old Republic International Corp.(b)
  16,503   454,988
Selective Insurance Group, Inc.
  3,399   350,743
        2,000,074
Regional Banks-8.48%
BancFirst Corp.(b)
  3,063   305,994
Bancorp, Inc. (The)(b)(c)
  7,892   299,107
Customers Bancorp, Inc.(b)(c)
  14,315   600,943
Metropolitan Bank Holding Corp.(b)(c)
  10,280   465,581
PacWest Bancorp
  97,973   911,149
        2,582,774
Retail REITs-2.73%
Kite Realty Group Trust(b)
  18,910   432,661
Tanger Factory Outlet Centers, Inc.
  16,953   396,870
        829,531
Self-Storage REITs-3.57%
CubeSmart(b)
  25,057   1,086,472
Specialized Finance-0.91%
A-Mark Precious Metals, Inc.
  6,801   277,413
Trading Companies & Distributors-1.51%
FTAI Aviation Ltd.(b)
  14,247   458,896
Transaction & Payment Processing Services-7.84%
International Money Express, Inc.(b)(c)
  11,579   280,559
Mastercard, Inc., Class A
  2,853   1,124,881
Visa, Inc., Class A(b)
  4,132   982,300
        2,387,740
Total Common Stocks & Other Equity Interests

(Cost $26,150,962)
  30,433,680
Money Market Funds-0.44%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $134,037)
  134,037   134,037
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.40%

(Cost $26,284,999)
  30,567,717
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-28.56%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  2,394,727   2,394,727
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  6,302,403   6,302,403
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $8,696,956)
  8,697,130
TOTAL INVESTMENTS IN SECURITIES-128.96%

(Cost $34,981,955)
  39,264,847
OTHER ASSETS LESS LIABILITIES-(28.96)%
  (8,817,601)
NET ASSETS-100.00%
  $30,447,246
See accompanying notes which are an integral part of this schedule.
Invesco DWA Financial Momentum ETF (PFI)—(continued)
July 31, 2023
(Unaudited)
Investment Abbreviations:
REIT -Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) All or a portion of this security was out on loan at July 31, 2023.
(c) Non-income producing security.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $135,073   $182,312   $(183,348)   $-   $-   $134,037   $1,758
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 1,083,298   9,563,737   (8,252,308)   -   -   2,394,727   18,342*
Invesco Private Prime Fund 2,785,624   18,894,870   (15,378,331)   272   (32)   6,302,403   49,329*
Total $4,003,995   $28,640,919   $(23,813,987)   $272   $(32)   $8,831,167   $69,429
    
* 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 July 31, 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 DWA Healthcare Momentum ETF (PTH)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.02%
Biotechnology-44.51%
4D Molecular Therapeutics, Inc.(b)(c)
  77,125   $1,411,387
89bio, Inc.(b)
  226,870   3,593,621
Akero Therapeutics, Inc.(b)(c)
  78,704   3,415,754
Aldeyra Therapeutics, Inc.(b)(c)
  172,465   1,399,553
Apellis Pharmaceuticals, Inc.(b)(c)
  64,581   1,662,961
Biohaven Ltd.(b)(c)
  129,771   2,579,847
Biomea Fusion, Inc.(b)(c)
  113,300   2,520,925
Disc Medicine, Inc.(b)(c)
  33,514   1,662,294
Exact Sciences Corp.(b)
  60,618   5,912,680
Ideaya Biosciences, Inc.(b)
  101,726   2,274,593
ImmunoGen, Inc.(b)
  429,135   7,647,186
Inhibrx, Inc.(b)(c)
  45,171   905,679
Karuna Therapeutics, Inc.(b)(c)
  21,148   4,224,736
Krystal Biotech, Inc.(b)(c)
  22,877   2,953,421
Merus N.V. (Netherlands)(b)
  49,346   1,294,839
MoonLake Immunotherapeutics(b)(c)
  63,201   3,843,253
Morphic Holding, Inc.(b)(c)
  40,187   2,279,808
Nuvalent, Inc., Class A(b)(c)
  26,743   1,333,139
Protagonist Therapeutics, Inc.(b)
  129,690   2,515,986
Regeneron Pharmaceuticals, Inc.(b)
  4,896   3,632,391
Roivant Sciences Ltd.(b)
  342,567   4,103,953
Sage Therapeutics, Inc.(b)(c)
  36,700   1,272,756
Vaxcyte, Inc.(b)(c)
  49,542   2,380,988
Vera Therapeutics, Inc.(b)
  98,152   1,842,313
Vericel Corp.(b)(c)
  33,905   1,217,868
Viking Therapeutics, Inc.(b)(c)
  393,798   5,710,071
        73,592,002
Health Care Equipment-19.02%
Alphatec Holdings, Inc.(b)(c)
  146,052   2,580,739
Glaukos Corp.(b)(c)
  29,482   2,274,241
IDEXX Laboratories, Inc.(b)
  15,659   8,686,517
Inspire Medical Systems, Inc.(b)
  13,207   3,801,107
LeMaitre Vascular, Inc.(c)
  19,004   1,201,623
Outset Medical, Inc.(b)(c)
  51,610   1,062,134
Penumbra, Inc.(b)
  15,360   4,659,609
Shockwave Medical, Inc.(b)
  16,480   4,294,688
SI-BONE, Inc.(b)(c)
  50,272   1,295,007
Tactile Systems Technology, Inc.(b)(c)
  69,079   1,582,600
        31,438,265
Health Care Facilities-7.74%
Ensign Group, Inc. (The)(c)
  42,088   4,077,065
HCA Healthcare, Inc.
  17,517   4,778,813
Tenet Healthcare Corp.(b)
  52,776   3,943,950
        12,799,828
Health Care Services-2.56%
Accolade, Inc.(b)(c)
  88,963   1,336,224
CorVel Corp.(b)(c)
  7,768   1,589,022
RadNet, Inc.(b)
  39,650   1,311,622
        4,236,868
  Shares   Value
Health Care Supplies-5.93%
Haemonetics Corp.(b)(c)
  22,581   $2,082,872
Merit Medical Systems, Inc.(b)(c)
  28,317   2,114,430
RxSight, Inc.(b)(c)
  53,792   1,795,039
UFP Technologies, Inc.(b)(c)
  19,617   3,818,743
        9,811,084
Health Care Technology-1.81%
Schrodinger, Inc.(b)(c)
  57,178   2,990,981
Life & Health Insurance-1.87%
Oscar Health, Inc., Class A(b)
  411,532   3,094,721
Life Sciences Tools & Services-4.26%
10X Genomics, Inc., Class A(b)(c)
  37,679   2,373,024
Pacific Biosciences of California, Inc.(b)(c)
  245,547   3,243,676
Quanterix Corp.(b)
  57,462   1,427,356
        7,044,056
Pharmaceuticals-12.32%
Amphastar Pharmaceuticals, Inc.(b)
  53,222   3,230,043
Axsome Therapeutics, Inc.(b)(c)
  76,673   6,016,530
Eli Lilly and Co.
  16,489   7,495,075
Intra-Cellular Therapies, Inc.(b)(c)
  32,153   1,988,342
Marinus Pharmaceuticals, Inc.(b)
  153,147   1,629,484
        20,359,474
Total Common Stocks & Other Equity Interests

(Cost $160,782,093)
  165,367,279
Money Market Funds-0.16%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $260,006)
  260,006   260,006
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.18%

(Cost $161,042,099)
  165,627,285
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-21.56%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  9,979,603   9,979,603
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  25,661,837   25,661,837
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $35,640,373)
  35,641,440
TOTAL INVESTMENTS IN SECURITIES-121.74%

(Cost $196,682,472)
  201,268,725
OTHER ASSETS LESS LIABILITIES-(21.74)%
  (35,938,375)
NET ASSETS-100.00%
  $165,330,350
See accompanying notes which are an integral part of this schedule.
Invesco DWA Healthcare Momentum ETF (PTH)—(continued)
July 31, 2023
(Unaudited)
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $272,087   $849,361   $(861,442)   $-   $-   $260,006   $3,379
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 11,949,604   31,662,056   (33,632,057)   -   -   9,979,603   130,006*
Invesco Private Prime Fund 30,727,554   72,811,767   (77,879,341)   1,067   790   25,661,837   342,439*
Total $42,949,245   $105,323,184   $(112,372,840)   $1,067   $790   $35,901,446   $475,824
    
* 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 July 31, 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 DWA Industrials Momentum ETF (PRN)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Aerospace & Defense-6.94%
HEICO Corp.
  19,528   $3,436,537
Howmet Aerospace, Inc.
  66,905   3,421,522
TransDigm Group, Inc.
  4,043   3,637,568
        10,495,627
Building Products-11.95%
A.O. Smith Corp.
  64,348   4,673,595
Builders FirstSource, Inc.(b)(c)
  41,818   6,039,774
CSW Industrials, Inc.
  10,474   1,891,081
Trane Technologies PLC(c)
  27,341   5,452,889
        18,057,339
Cargo Ground Transportation-9.21%
Old Dominion Freight Line, Inc.
  17,217   7,222,359
Saia, Inc.(b)
  15,812   6,690,690
        13,913,049
Commercial Printing-1.38%
Cimpress PLC (Ireland)(b)(c)
  30,018   2,086,251
Construction & Engineering-10.07%
API Group Corp.(b)
  87,109   2,505,255
Comfort Systems USA, Inc.
  14,892   2,590,761
MYR Group, Inc.(b)
  20,685   2,948,854
Quanta Services, Inc.
  24,833   5,006,830
Sterling Infrastructure, Inc.(b)
  36,260   2,175,237
        15,226,937
Construction Machinery & Heavy Transportation Equipment-1.45%
Terex Corp.
  37,425   2,194,228
Diversified Support Services-5.87%
Cintas Corp.
  9,203   4,620,274
Copart, Inc.(b)
  48,172   4,257,923
        8,878,197
Electrical Components & Equipment-8.58%
AMETEK, Inc.
  37,037   5,874,068
Fluence Energy, Inc.(b)(c)
  97,678   2,856,105
Hubbell, Inc.
  13,561   4,231,032
        12,961,205
Electronic Components-1.30%
Bel Fuse, Inc., Class B
  36,723   1,970,189
Electronic Equipment & Instruments-6.04%
Badger Meter, Inc.
  15,890   2,616,130
Crane NXT Co.
  40,854   2,416,514
Evolv Technologies Holdings, Inc.(b)
  271,156   1,784,207
Napco Security Technologies, Inc.(c)
  61,805   2,316,451
        9,133,302
Electronic Manufacturing Services-2.55%
Jabil, Inc.
  34,827   3,854,304
Environmental & Facilities Services-1.46%
Clean Harbors, Inc.(b)
  13,238   2,200,950
Human Resource & Employment Services-1.39%
Insperity, Inc.(c)
  17,824   2,096,994
  Shares   Value
Industrial Machinery & Supplies & Components-9.15%
Energy Recovery, Inc.(b)(c)
  60,218   $1,835,445
Graco, Inc.
  39,202   3,109,895
Illinois Tool Works, Inc.
  13,458   3,543,760
Parker-Hannifin Corp.(c)
  13,025   5,340,380
        13,829,480
Oil & Gas Storage & Transportation-1.53%
Dorian LPG Ltd.
  77,907   2,316,954
Paper & Plastic Packaging Products & Materials-3.29%
Graphic Packaging Holding Co.
  205,291   4,968,042
Research & Consulting Services-3.38%
CBIZ, Inc.(b)(c)
  32,605   1,724,478
KBR, Inc.(c)
  54,957   3,379,306
        5,103,784
Trading Companies & Distributors-12.11%
GMS, Inc.(b)
  34,497   2,542,084
H&E Equipment Services, Inc.
  36,667   1,781,283
Herc Holdings, Inc.(c)
  24,261   3,246,849
Rush Enterprises, Inc., Class A
  28,038   1,813,498
W.W. Grainger, Inc.
  4,767   3,520,382
WESCO International, Inc.
  30,744   5,397,724
        18,301,820
Transaction & Payment Processing Services-2.36%
Fiserv, Inc.(b)
  28,240   3,564,170
Total Common Stocks & Other Equity Interests

(Cost $123,155,387)
  151,152,822
Money Market Funds-0.11%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $166,724)
  166,724   166,724
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.12%

(Cost $123,322,111)
  151,319,546
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-5.99%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  2,533,349   2,533,349
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  6,514,325   6,514,325
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $9,047,674)
  9,047,674
TOTAL INVESTMENTS IN SECURITIES-106.11%

(Cost $132,369,785)
  160,367,220
OTHER ASSETS LESS LIABILITIES-(6.11)%
  (9,239,132)
NET ASSETS-100.00%
  $151,128,088
See accompanying notes which are an integral part of this schedule.
Invesco DWA Industrials Momentum ETF (PRN)—(continued)
July 31, 2023
(Unaudited)
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $166,062   $603,553   $(602,891)   $-   $-   $166,724   $2,407
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 3,700,195   14,655,342   (15,822,188)   -   -   2,533,349   39,971*
Invesco Private Prime Fund 9,618,556   30,504,951   (33,610,313)   143   988   6,514,325   111,072*
Total $13,484,813   $45,763,846   $(50,035,392)   $143   $988   $9,214,398   $153,450
    
* 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 July 31, 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 DWA Technology Momentum ETF (PTF)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.97%
Application Software-44.28%
Altair Engineering, Inc., Class A(b)(c)
  81,865   $6,134,963
AppFolio, Inc., Class A(b)
  36,321   6,559,209
AppLovin Corp., Class A(b)
  340,549   10,693,239
C3.ai, Inc., Class A(b)(c)
  205,122   8,615,124
Cadence Design Systems, Inc.(b)
  56,131   13,135,215
Confluent, Inc., Class A(b)(c)
  219,958   7,597,349
DoubleVerify Holdings, Inc.(b)
  165,639   6,973,402
HubSpot, Inc.(b)
  14,485   8,409,267
InterDigital, Inc.(c)
  68,430   6,342,777
Manhattan Associates, Inc.(b)
  35,421   6,751,951
Marathon Digital Holdings, Inc.(b)(c)
  809,871   14,067,459
Palantir Technologies, Inc., Class A(b)(c)
  516,906   10,255,415
Samsara, Inc., Class A(b)
  325,824   9,103,523
SPS Commerce, Inc.(b)(c)
  40,413   7,290,101
Synopsys, Inc.(b)
  21,400   9,668,520
Yext, Inc.(b)
  560,882   5,451,773
        137,049,287
Communications Equipment-4.86%
Extreme Networks, Inc.(b)
  350,565   9,321,524
Harmonic, Inc.(b)
  383,397   5,720,283
        15,041,807
Electronic Equipment & Instruments-1.61%
Presto Automation, Inc.(b)(c)
  1,251,624   4,981,463
Internet Services & Infrastructure-2.21%
Fastly, Inc., Class A(b)(c)
  372,861   6,849,457
Semiconductor Materials & Equipment-7.07%
Axcelis Technologies, Inc.(b)
  68,307   13,694,188
Onto Innovation, Inc.(b)
  65,748   8,173,791
        21,867,979
Semiconductors-17.46%
Advanced Micro Devices, Inc.(b)
  63,833   7,302,495
Broadcom, Inc.
  10,723   9,636,224
indie Semiconductor, Inc., A Shares (China)(b)(c)
  648,425   6,147,069
Navitas Semiconductor Corp.(b)
  729,822   7,721,517
NVIDIA Corp.
  26,339   12,307,951
Rambus, Inc.(b)(c)
  174,328   10,914,676
        54,029,932
  Shares   Value
Systems Software-10.11%
Fortinet, Inc.(b)
  123,779   $9,620,104
Microsoft Corp.
  26,734   8,980,485
N-able, Inc.(b)
  378,736   5,328,815
Oracle Corp.
  62,807   7,362,865
        31,292,269
Technology Hardware, Storage & Peripherals-12.37%
Apple, Inc.
  94,892   18,641,534
Super Micro Computer, Inc.(b)(c)
  59,434   19,629,267
        38,270,801
Total Common Stocks & Other Equity Interests

(Cost $256,368,912)
  309,382,995
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $287,926)
  287,926   287,926
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.06%

(Cost $256,656,838)
  309,670,921
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-16.03%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  13,889,627   13,889,627
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  35,716,183   35,716,183
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $49,605,188)
  49,605,810
TOTAL INVESTMENTS IN SECURITIES-116.09%

(Cost $306,262,026)
  359,276,731
OTHER ASSETS LESS LIABILITIES-(16.09)%
  (49,786,812)
NET ASSETS-100.00%
  $309,489,919
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 July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $292,096   $693,005   $(697,175)   $-   $-   $287,926   $4,308
See accompanying notes which are an integral part of this schedule.
Invesco DWA Technology Momentum ETF (PTF)—(continued)
July 31, 2023
(Unaudited)
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $14,253,080   $47,394,561   $(47,758,014)   $-   $-   $13,889,627   $146,933*
Invesco Private Prime Fund 37,945,789   103,316,061   (105,546,194)   2,018   (1,491)   35,716,183   396,799*
Total $52,490,965   $151,403,627   $(154,001,383)   $2,018   $(1,491)   $49,893,736   $548,040
    
* 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 July 31, 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 DWA Utilities Momentum ETF (PUI)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.88%
Electric Utilities-47.04%
Alliant Energy Corp.
  28,208   $1,515,898
American Electric Power Co., Inc.
  9,508   805,708
Constellation Energy Corp.
  16,778   1,621,594
Duke Energy Corp.
  14,294   1,338,204
Evergy, Inc.
  16,712   1,002,218
Eversource Energy
  13,062   944,774
Exelon Corp.
  28,765   1,204,103
FirstEnergy Corp.
  20,884   822,621
IDACORP, Inc.
  6,961   715,730
NextEra Energy, Inc.
  20,673   1,515,331
Otter Tail Corp.
  9,390   760,684
PG&E Corp.(b)
  80,988   1,426,199
Pinnacle West Capital Corp.
  16,034   1,327,936
Portland General Electric Co.(c)
  16,822   801,905
Southern Co. (The)
  21,565   1,560,012
Xcel Energy, Inc.
  19,974   1,252,969
        18,615,886
Gas Utilities-11.58%
Atmos Energy Corp.
  12,396   1,508,717
Chesapeake Utilities Corp.
  6,571   776,955
National Fuel Gas Co.
  12,712   675,134
New Jersey Resources Corp.(c)
  18,188   813,004
ONE Gas, Inc.(c)
  10,205   807,522
        4,581,332
Independent Power Producers & Energy Traders-4.76%
AES Corp. (The)
  43,594   942,938
Vistra Corp.
  33,540   941,133
        1,884,071
Multi-Utilities-23.28%
Ameren Corp.
  10,118   866,809
CenterPoint Energy, Inc.
  31,644   952,168
CMS Energy Corp.
  18,266   1,115,505
DTE Energy Co.
  11,766   1,344,854
NiSource, Inc.
  49,176   1,369,060
Public Service Enterprise Group, Inc.
  12,987   819,739
Sempra
  9,404   1,401,384
WEC Energy Group, Inc.
  14,928   1,341,430
        9,210,949
  Shares   Value
Oil & Gas Storage & Transportation-4.25%
ONEOK, Inc.
  25,114   $1,683,642
Renewable Electricity-2.18%
Clearway Energy, Inc., Class C(c)
  32,725   864,267
Water Utilities-6.79%
American Water Works Co., Inc.
  9,410   1,387,316
Essential Utilities, Inc.
  17,025   719,987
Middlesex Water Co.
  7,211   579,909
        2,687,212
Total Common Stocks & Other Equity Interests

(Cost $41,337,018)
  39,527,359
Money Market Funds-0.33%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $130,333)
  130,333   130,333
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.21%

(Cost $41,467,351)
  39,657,692
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.02%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  445,167   445,167
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  1,145,030   1,145,030
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,590,197)
  1,590,197
TOTAL INVESTMENTS IN SECURITIES-104.23%

(Cost $43,057,548)
  41,247,889
OTHER ASSETS LESS LIABILITIES-(4.23)%
  (1,674,006)
NET ASSETS-100.00%
  $39,573,883
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 July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $116,870   $509,088   $(495,625)   $-   $-   $130,333   $1,359
See accompanying notes which are an integral part of this schedule.
Invesco DWA Utilities Momentum ETF (PUI)—(continued)
July 31, 2023
(Unaudited)
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $2,664,890   $10,668,899   $(12,888,622)   $-   $-   $445,167   $14,549*
Invesco Private Prime Fund 6,852,888   17,563,405   (23,271,373)   42   68   1,145,030   40,033*
Total $9,634,648   $28,741,392   $(36,655,620)   $42   $68   $1,720,530   $55,941
    
* 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 July 31, 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 NASDAQ Internet ETF (PNQI)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.05%
Advertising-0.08%
Criteo S.A., ADR (France)(b)
  15,808   $526,406
Apparel Retail-0.03%
Lands’ End, Inc.(b)(c)
  8,726   81,850
Stitch Fix, Inc., Class A(b)(c)
  23,420   119,676
        201,526
Application Software-15.59%
Adobe, Inc.(b)
  51,686   28,229,343
Alarm.com Holdings, Inc.(b)(c)
  13,406   740,145
Box, Inc., Class A(b)(c)
  38,957   1,217,406
Consensus Cloud Solutions, Inc.(b)
  5,286   171,319
DocuSign, Inc.(b)
  54,403   2,927,970
Dropbox, Inc., Class A(b)(c)
  72,118   1,943,580
Envestnet, Inc.(b)(c)
  14,630   906,767
LivePerson, Inc.(b)
  21,230   100,843
New Relic, Inc.(b)(c)
  18,883   1,585,794
Open Text Corp. (Canada)(c)
  72,805   3,126,975
PROS Holdings, Inc.(b)(c)
  12,379   470,402
Salesforce, Inc.(b)
  193,331   43,501,408
SPS Commerce, Inc.(b)
  9,828   1,772,873
Unity Software, Inc.(b)(c)
  101,821   4,667,475
Zoom Video Communications, Inc., Class A(b)
  67,462   4,948,338
        96,310,638
Broadline Retail-16.92%
Alibaba Group Holding Ltd., ADR (China)(b)(c)
  232,427   23,744,742
Amazon.com, Inc.(b)
  358,192   47,883,107
eBay, Inc.
  143,805   6,400,760
Global-e Online Ltd. (Israel)(b)(c)
  44,172   1,989,949
JD.com, Inc., ADR (China)(c)
  122,085   5,043,331
MercadoLibre, Inc. (Brazil)(b)
  13,483   16,692,628
Vipshop Holdings Ltd., ADR (China)(b)(c)
  145,361   2,737,148
        104,491,665
Casinos & Gaming-0.64%
DraftKings, Inc., Class A(b)(c)
  124,200   3,947,076
Commercial Printing-0.08%
Cimpress PLC (Ireland)(b)
  7,077   491,852
Education Services-0.07%
2U, Inc.(b)(c)
  21,624   103,363
Chegg, Inc.(b)(c)
  32,188   326,064
        429,427
Financial Exchanges & Data-0.80%
Coinbase Global, Inc., Class A(b)
  50,260   4,956,139
Health Care Technology-0.25%
GoodRx Holdings, Inc., Class A(b)(c)
  22,359   206,597
Teladoc Health, Inc.(b)(c)
  44,014   1,310,297
        1,516,894
Homefurnishing Retail-0.37%
Overstock.com, Inc.(b)(c)
  12,150   443,111
Wayfair, Inc., Class A(b)(c)
  23,284   1,813,125
        2,256,236
Hotels, Resorts & Cruise Lines-8.43%
Airbnb, Inc., Class A(b)
  110,686   16,845,302
Booking Holdings, Inc.(b)
  8,602   25,554,822
Expedia Group, Inc.(b)(c)
  38,346   4,698,536
MakeMyTrip Ltd. (India)(b)(c)
  17,638   507,445
Trip.com Group Ltd., ADR (China)(b)(c)
  108,455   4,450,993
        52,057,098
  Shares   Value
Human Resource & Employment Services-0.55%
Paylocity Holding Corp.(b)
  15,012   $3,405,472
Interactive Home Entertainment-2.76%
Bilibili, Inc., ADR (China)(b)(c)
  33,033   629,940
NetEase, Inc., ADR (China)(c)
  33,834   3,679,109
Roblox Corp., Class A(b)
  150,756   5,917,173
Sea Ltd., ADR (Singapore)(b)(c)
  102,404   6,811,914
        17,038,136
Interactive Media & Services-18.51%
Alphabet, Inc., Class C(b)
  350,055   46,595,821
Autohome, Inc., ADR (China)
  18,041   576,771
Baidu, Inc., ADR (China)(b)
  36,888   5,754,159
Bumble, Inc., Class A(b)(c)
  36,998   685,203
Cars.com, Inc.(b)(c)
  17,940   409,211
Eventbrite, Inc., Class A(b)(c)
  22,147   254,912
Hello Group, Inc., ADR (China)(c)
  46,679   497,131
JOYY, Inc., ADR (China)
  15,609   542,569
Meta Platforms, Inc., Class A(b)
  163,157   51,981,820
Shutterstock, Inc.(c)
  9,699   499,014
Snap, Inc., Class A(b)(c)
  362,393   4,116,785
TripAdvisor, Inc.(b)(c)
  34,773   648,516
Yelp, Inc.(b)
  18,513   834,011
Ziff Davis, Inc.(b)(c)
  12,714   922,019
        114,317,942
Internet Services & Infrastructure-6.49%
Akamai Technologies, Inc.(b)
  40,933   3,868,168
Brightcove, Inc.(b)(c)
  11,529   51,765
Fastly, Inc., Class A(b)(c)
  34,148   627,299
GoDaddy, Inc., Class A(b)
  41,463   3,196,383
Okta, Inc.(b)
  41,690   3,204,293
Shopify, Inc., Class A (Canada)(b)
  322,112   21,768,329
VeriSign, Inc.(b)
  27,997   5,905,967
Wix.com Ltd. (Israel)(b)
  15,271   1,440,361
        40,062,565
Movies & Entertainment-9.19%
Netflix, Inc.(b)
  54,627   23,979,614
Roku, Inc., Class A(b)(c)
  33,175   3,193,757
Spotify Technology S.A.(b)
  51,845   7,746,162
Walt Disney Co. (The)(b)
  245,443   21,817,428
        56,736,961
Other Specialty Retail-0.20%
1-800-Flowers.com, Inc., Class A(b)(c)
  10,134   87,963
Chewy, Inc., Class A(b)(c)
  31,259   1,059,680
PetMed Express, Inc.(c)
  5,694   83,417
        1,231,060
Passenger Ground Transportation-4.56%
Lyft, Inc., Class A(b)(c)
  99,372   1,263,018
Uber Technologies, Inc.(b)(c)
  543,594   26,886,159
        28,149,177
Real Estate Services-1.96%
CoStar Group, Inc.(b)
  109,548   9,198,746
Redfin Corp.(b)(c)
  29,801   446,419
Zillow Group, Inc., Class C(b)(c)
  45,883   2,485,023
        12,130,188
Restaurants-1.42%
DoorDash, Inc., Class A(b)(c)
  96,686   8,778,122
See accompanying notes which are an integral part of this schedule.
Invesco NASDAQ Internet ETF (PNQI)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Systems Software-7.36%
Gitlab, Inc., Class A(b)(c)
  25,880   $1,284,424
Microsoft Corp.
  131,512   44,177,511
        45,461,935
Transaction & Payment Processing Services-3.79%
Dlocal Ltd. (Uruguay)(b)(c)
  43,628   661,837
PayPal Holdings, Inc.(b)
  299,624   22,717,491
        23,379,328
Total Common Stocks & Other Equity Interests

(Cost $587,877,509)
  617,875,843
Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $1,342)
  1,342   1,342
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.05%

(Cost $587,878,851)
  617,877,185
  Shares   Value
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-8.48%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  14,739,433   $14,739,433
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  37,632,300   37,632,300
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $52,368,938)
  52,371,733
TOTAL INVESTMENTS IN SECURITIES-108.53%

(Cost $640,247,789)
  670,248,918
OTHER ASSETS LESS LIABILITIES-(8.53)%
  (52,662,775)
NET ASSETS-100.00%
  $617,586,143
 
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 July 31, 2023.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2023.
    
  Value
April 30, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $508,976   $(507,634)   $-   $-   $1,342   $834
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 8,626,317   102,660,539   (96,547,423)   -   -   14,739,433   184,762*
Invesco Private Prime Fund 22,188,871   195,055,645   (179,617,104)   2,795   2,093   37,632,300   466,362*
Total $30,815,188   $298,225,160   $(276,672,161)   $2,795   $2,093   $52,373,075   $651,958
    
* 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 July 31, 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
July 31, 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 July 31, 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 DWA Basic Materials Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $161,719,655   $-   $-   $161,719,655
Money Market Funds 156,525   21,917,599   -   22,074,124
Total Investments $161,876,180   $21,917,599   $-   $183,793,779
Invesco DWA Consumer Cyclicals Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $21,968,028   $-   $-   $21,968,028
Money Market Funds 152,554   5,013,726   -   5,166,280
Total Investments $22,120,582   $5,013,726   $-   $27,134,308
Invesco DWA Consumer Staples Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $115,992,721   $-   $-   $115,992,721
Money Market Funds 182,815   14,336,580   -   14,519,395
Total Investments $116,175,536   $14,336,580   $-   $130,512,116
Invesco DWA Energy Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $89,276,614   $-   $-   $89,276,614
Money Market Funds 156,347   18,441,345   -   18,597,692
Total Investments $89,432,961   $18,441,345   $-   $107,874,306
Invesco DWA Financial Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $30,433,680   $-   $-   $30,433,680
Money Market Funds 134,037   8,697,130   -   8,831,167
Total Investments $30,567,717   $8,697,130   $-   $39,264,847
  Level 1   Level 2   Level 3   Total
Invesco DWA Healthcare Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $165,367,279   $-   $-   $165,367,279
Money Market Funds 260,006   35,641,440   -   35,901,446
Total Investments $165,627,285   $35,641,440   $-   $201,268,725
Invesco DWA Industrials Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $151,152,822   $-   $-   $151,152,822
Money Market Funds 166,724   9,047,674   -   9,214,398
Total Investments $151,319,546   $9,047,674   $-   $160,367,220
Invesco DWA Technology Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $309,382,995   $-   $-   $309,382,995
Money Market Funds 287,926   49,605,810   -   49,893,736
Total Investments $309,670,921   $49,605,810   $-   $359,276,731
Invesco DWA Utilities Momentum ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $39,527,359   $-   $-   $39,527,359
Money Market Funds 130,333   1,590,197   -   1,720,530
Total Investments $39,657,692   $1,590,197   $-   $41,247,889
Invesco NASDAQ Internet ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $617,875,843   $-   $-   $617,875,843
Money Market Funds 1,342   52,371,733   -   52,373,075
Total Investments $617,877,185   $52,371,733   $-   $670,248,918