0001752724-23-220732.txt : 20230928 0001752724-23-220732.hdr.sgml : 20230928 20230928092639 ACCESSION NUMBER: 0001752724-23-220732 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: 231286533 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 S000060796 Invesco S&P MidCap 400 Pure Value ETF C000197612 Invesco S&P MidCap 400 Pure Value ETF RFV NPORT-P 1 primary_doc.xml NPORT-P false 0001209466 XXXXXXXX S000060796 C000197612 Invesco Exchange-Traded Fund Trust 811-21265 0001209466 QPT4TMG79RF3UWNU0R52 3500 Lacey Road Suite 700 Downers Grove 60515 800-983-0903 Invesco S&P Midcap 400 Pure Value ETF S000060796 54930071Q636HGDKBD94 2024-04-30 2023-07-31 N 312854531.61 44708767.64 268145763.97 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 5336.57000000 N Foot Locker, Inc. 549300X383CBNP6MTV94 Foot Locker, Inc. 344849104 124790.00000000 NS USD 3353107.30000000 1.250479310340 Long EC CORP US N 1 N N N Xerox Holdings Corp. 5493000Y33XDVO2CXC18 Xerox Holdings Corp. 98421M106 273978.00000000 NS USD 4378168.44000000 1.632756891318 Long EC CORP US N 1 N N Kyndryl Holdings, Inc. 549300LQ4LWX2R8ZV130 Kyndryl Holdings, Inc. 50155Q100 218896.00000000 NS USD 2990119.36000000 1.115109676069 Long EC CORP US N 1 N N N Jabil Inc. 5493000CGCQY2OQU7669 Jabil Inc. 466313103 47533.00000000 NS USD 5260477.11000000 1.961797580583 Long EC CORP US N 1 N N N Syneos Health, Inc. 549300F1ZGKDS8P6GU13 Syneos Health, Inc. 87166B102 97983.00000000 NS USD 4155459.03000000 1.549701538624 Long EC CORP US N 1 N N N Frontier Communications Parent Inc. 549300ZCZ76HYCS0H445 Frontier Communications Parent Inc. 35909D109 56518.00000000 NS USD 1029192.78000000 0.383818399650 Long EC CORP US N 1 N N Vishay Intertechnology, Inc. 5493009O8F3QQJTCQR75 Vishay Intertechnology, Inc. 928298108 56481.00000000 NS USD 1589940.15000000 0.592938753333 Long EC CORP US N 1 N N N Toll Brothers, Inc. 529900JB6IS9MSZGVR44 Toll Brothers, Inc. 889478103 81082.00000000 NS USD 6513317.06000000 2.429021053164 Long EC CORP US N 1 N N N Invesco Government & Agency Portfolio 5493007T1J7WZ5QI1A47 Invesco Government & Agency Portfolio, Institutional Class 825252885 325322.43000000 NS USD 325322.43000000 0.121322979406 Long STIV RF US N 1 N N N Starwood Property Trust, Inc. 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CQ7WZ4NOFWT7FAE6Q943 Fluor Corp. 343412102 68036.00000000 NS USD 2107755.28000000 0.786048322671 Long EC CORP US N 1 N N N Taylor Morrison Home Corp. 5299009UDLLGLKOOJE30 Taylor Morrison Home Corp., Class A 87724P106 211761.00000000 NS USD 10253467.62000000 3.823840984169 Long EC CORP US N 1 N N N KB Home 549300LGUCWQURMWLG09 KB Home 48666K109 196049.00000000 NS USD 10580764.53000000 3.945900309349 Long EC CORP US N 1 N N N New York Community Bancorp, Inc. 529900HVXOTLY61GL030 New York Community Bancorp, Inc. 649445103 335185.00000000 NS USD 4649015.95000000 1.733764457498 Long EC CORP US N 1 N N Essent Group Ltd. 254900QUO860OUT6ZF83 Essent Group Ltd. G3198U102 39564.00000000 NS USD 1962374.40000000 0.731831214092 Long EC CORP BM N 1 N N N Patterson Cos., Inc. YM48Q2087CUE26GWEK09 Patterson Cos., Inc. 703395103 80035.00000000 NS USD 2632351.15000000 0.981686643498 Long EC CORP US N 1 N N N Jones Lang LaSalle Inc. 6SYKCME112RT8TQUO411 Jones Lang LaSalle Inc. 48020Q107 17712.00000000 NS USD 2949933.60000000 1.100123140610 Long EC CORP US N 1 N N Greif, Inc. 54930070FVGKR0Z1FI24 Greif, Inc., Class A 397624107 31686.00000000 NS USD 2343813.42000000 0.874081837169 Long EC CORP US N 1 N N Coherent Corp. 549300O5C25A0MMHHU33 Coherent Corp. 19247G107 47884.00000000 NS USD 2267786.24000000 0.845728907451 Long EC CORP US N 1 N N Old Republic International Corp. 549300IV6O2YY2A1KH37 Old Republic International Corp. 680223104 85486.00000000 NS USD 2356849.02000000 0.878943222934 Long EC CORP US N 1 N N N Pilgrim's Pride Corp. 549300ZSLGV64ZL3HD75 Pilgrim's Pride Corp. 72147K108 147195.00000000 NS USD 3646020.15000000 1.359715736702 Long EC CORP US N 1 N N GXO Logistics, Inc. 5493007CNWMXN78JRN66 GXO Logistics, Inc. 36262G101 43457.00000000 NS USD 2914660.99000000 1.086968873513 Long EC CORP US N 1 N N Invesco Private Government Fund N/A Invesco Private Government Fund N/A 12596875.44000000 NS USD 12596875.44000000 4.697771560325 Long STIV PF US N 2 N N Cousins Properties Inc. 5493007XPYD5EJABN062 Cousins Properties Inc. 222795502 74985.00000000 NS USD 1831883.55000000 0.683167066627 Long EC CORP US N 1 N N Ryder System, Inc. ZXJ6Y2OSPZXIVGRILD15 Ryder System, Inc. 783549108 45243.00000000 NS USD 4621572.45000000 1.723529912080 Long EC CORP US N 1 N N N TD SYNNEX Corp. 5493004HI6PFLF46NS53 TD SYNNEX Corp. 87162W100 51377.00000000 NS USD 5071423.67000000 1.891293599017 Long EC CORP US N 1 N N N Adient PLC 5493002QLDY8O75RTR78 Adient PLC G0084W101 109967.00000000 NS USD 4680195.52000000 1.745392301078 Long EC CORP IE N 1 N N N Gap, Inc. (The) T2ZG1WRWZ4BUCMQL9224 Gap, Inc. (The) 364760108 265643.00000000 NS USD 2736122.90000000 1.020386397118 Long EC CORP US N 1 N N Kilroy Realty Corp. 549300CXXI18B214UN80 Kilroy Realty Corp. 49427F108 36926.00000000 NS USD 1318258.20000000 0.491619998198 Long EC CORP US N 1 N N CNO Financial Group, Inc. 11XPYHB76MPM4Y4P2897 CNO Financial Group, Inc. 12621E103 67584.00000000 NS USD 1738260.48000000 0.648252075387 Long EC CORP US N 1 N N N Associated Banc-Corp 549300N3CIN473IW5094 Associated Banc-Corp 045487105 64621.00000000 NS USD 1224567.95000000 0.456679953421 Long EC CORP US N 1 N N Topgolf Callaway Brands Corp. 5493005UB0KFRKBPCU72 Topgolf Callaway Brands Corp. 131193104 103895.00000000 NS USD 2074783.15000000 0.773751977015 Long EC CORP US N 1 N N Enovis Corp. 635400OP2DYYYMOIYL17 Enovis Corp. 194014502 61484.00000000 NS USD 3928827.60000000 1.465183541157 Long EC CORP US N 1 N N N Tenet Healthcare Corp. 0W9AIBT6U6ADJ2I8HK17 Tenet Healthcare Corp. 88033G407 76549.00000000 NS USD 5720506.77000000 2.133357128341 Long EC CORP US N 1 N N N Macy's, Inc. 529900NZQ81TIOW3CW52 Macy's, Inc. 55616P104 196396.00000000 NS USD 3258209.64000000 1.215088984349 Long EC CORP US N 1 N N N Perrigo Co. PLC 549300IFOQS6R1QLY196 Perrigo Co. PLC G97822103 70888.00000000 NS USD 2597336.32000000 0.968628510682 Long EC CORP IE N 1 N N Goodyear Tire & Rubber Co. (The) 5493002BI0S2ZQUY3437 Goodyear Tire & Rubber Co. (The) 382550101 730175.00000000 NS USD 11741214.00000000 4.378668462319 Long EC CORP US N 1 N N Cleveland-Cliffs Inc. 549300TM2WLI2BJMDD86 Cleveland-Cliffs Inc. 185899101 361473.00000000 NS USD 6379998.45000000 2.379302344941 Long EC CORP US N 1 N N N Hertz Global Holdings, Inc. 549300NBK3K85MH1EX16 Hertz Global Holdings, Inc. 42806J700 77781.00000000 NS USD 1310609.85000000 0.488767687617 Long EC CORP US N 1 N N Invesco Private Prime Fund N/A Invesco Private Prime Fund N/A 31725322.57000000 NS USD 31725322.57000000 11.83137190022 Long STIV PF US N 2 N N Post Holdings, Inc. JM1I5YUAURL6DC8N1468 Post Holdings, Inc. 737446104 15760.00000000 NS USD 1344328.00000000 0.501342247625 Long EC CORP US N 1 N N N Kohl's Corp. 549300JF6LPRTRJ0FH50 Kohl's Corp. 500255104 228582.00000000 NS USD 6503157.90000000 2.425232382461 Long EC CORP US N 1 N N Sabra Health Care REIT, Inc. 549300E3BC7GU7TAZ621 Sabra Health Care REIT, Inc. 78573L106 96493.00000000 NS USD 1253444.07000000 0.467448767954 Long EC CORP US N 1 N N N MKS Instruments, Inc. 549300KEQATBHAGVF505 MKS Instruments, Inc. 55306N104 18576.00000000 NS USD 2027941.92000000 0.756283407194 Long EC CORP US N 1 N N N Park Hotels & Resorts Inc. 5493005UZ5TQN0H6HS73 Park Hotels & Resorts Inc. 700517105 312925.00000000 NS USD 4265167.75000000 1.590615375328 Long EC CORP US N 1 N N Janus Henderson Group PLC 2138009WPYMWJN3RVF44 Janus Henderson Group PLC G4474Y214 78422.00000000 NS USD 2301685.70000000 0.858371083668 Long EC CORP JE N 1 N N XPO, Inc. 54930096DB9LCLPN7H13 XPO, Inc. 983793100 110525.00000000 NS USD 7652751.00000000 2.853951853163 Long EC CORP US N 1 N N Thor Industries, Inc. 254900XZO1228PDSG060 Thor Industries, Inc. 885160101 65564.00000000 NS USD 7571986.36000000 2.823832175416 Long EC CORP US N 1 N N Nordstrom, Inc. 549300S3IZB5P35KNV16 Nordstrom, Inc. 655664100 172344.00000000 NS USD 3982869.84000000 1.485337594386 Long EC CORP US N 1 N N Lear Corp. 549300UPNBTXA1SYTQ33 Lear Corp. 521865204 20133.00000000 NS USD 3115783.08000000 1.161973634738 Long EC CORP US N 1 N N N First American Financial Corp. 549300B6VEZK3N0A1P55 First American Financial Corp. 31847R102 47489.00000000 NS USD 3009852.82000000 1.122468904762 Long EC CORP US N 1 N N N Alcoa Corp. 549300T12EZ1F6PWWU29 Alcoa Corp. 013872106 35216.00000000 NS USD 1274467.04000000 0.475288895536 Long EC CORP US N 1 N N Avnet, Inc. XJI53DCPL7QABOWK4Z75 Avnet, Inc. 053807103 136104.00000000 NS USD 6601044.00000000 2.461737191842 Long EC CORP US N 1 N N N ManpowerGroup Inc. ERO1WSFOSR0JJ6CRQ987 ManpowerGroup Inc. 56418H100 49436.00000000 NS USD 3899511.68000000 1.454250711354 Long EC CORP US N 1 N N N Lithia Motors, Inc. SE8N1EZEHPZQBCBVKD53 Lithia Motors, Inc., Class A 536797103 23453.00000000 NS USD 7282860.09000000 2.716007883986 Long EC CORP US N 1 N N N Unum Group 549300E32YFDO6TZ8R31 Unum Group 91529Y106 84891.00000000 NS USD 4126551.51000000 1.538921014042 Long EC CORP US N 1 N N N Vornado Realty Trust N/A Vornado Realty Trust 929042109 110251.00000000 NS USD 2478442.48000000 0.924289253466 Long EC CORP US N 1 N N Arrow Electronics, Inc. 549300YNNLBXT8N8R512 Arrow Electronics, Inc. 042735100 49008.00000000 NS USD 6985600.32000000 2.605150354260 Long EC CORP US N 1 N N N United States Steel Corp. JNLUVFYJT1OZSIQ24U47 United States Steel Corp. 912909108 291835.00000000 NS USD 7441792.50000000 2.775278784874 Long EC CORP US N 1 N N N Reinsurance Group of America, Inc. LORM1GNEU1DKEW527V90 Reinsurance Group of America, Inc. 759351604 10234.00000000 NS USD 1436341.90000000 0.535657128695 Long EC CORP US N 1 N N N F.N.B. Corp. PCYSKIGYNYFDTBLVZU83 F.N.B. Corp. 302520101 115443.00000000 NS USD 1476515.97000000 0.550639304585 Long EC CORP US N 1 N N Southwest Gas Holdings, Inc. N/A Southwest Gas Holdings, Inc. 844895102 22053.00000000 NS USD 1454174.82000000 0.542307586168 Long EC CORP US N 1 N N Brighthouse Financial, Inc. 5493003T8SZSHOGGAW52 Brighthouse Financial, Inc. 10922N103 125571.00000000 NS USD 6546016.23000000 2.441215603440 Long EC CORP US N 1 N N N Medical Properties Trust, Inc. 254900U6E39J1MQCCY14 Medical Properties Trust, Inc. 58463J304 163449.00000000 NS USD 1649200.41000000 0.615038770548 Long EC CORP US N 1 N N PVH Corp. 123WALMHY1GZXG2YDL90 PVH Corp. 693656100 74763.00000000 NS USD 6701755.32000000 2.499295614735 Long EC CORP US N 1 N N N Avient Corp. SM8L9RZYIB34LNTWO040 Avient Corp. 05368V106 57948.00000000 NS USD 2348632.44000000 0.875879001490 Long EC CORP US N 1 N N N Skechers U.S.A., Inc. 529900D2R54KZPA4XR56 Skechers U.S.A., Inc., Class A 830566105 30629.00000000 NS USD 1702359.82000000 0.634863588667 Long EC CORP US N 1 N N N Graham Holdings Co. 529900BOSCEEEMAFQJ29 Graham Holdings Co., Class B 384637104 6058.00000000 NS USD 3554531.50000000 1.325596737898 Long EC CORP US N 1 N N N Kemper Corp. 549300FNI1JKTRY2PV09 Kemper Corp. 488401100 32050.00000000 NS USD 1633588.50000000 0.609216597649 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 S&P 500® Pure Growth ETF (RPG)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.93%
Consumer Discretionary-4.94%
AutoZone, Inc.(b)
  11,736   $29,125,466
O’Reilly Automotive, Inc., Class R(b)
  33,652   31,154,685
Tractor Supply Co.(c)
  90,574   20,287,670
Ulta Beauty, Inc.(b)
  31,970   14,220,256
        94,788,077
Consumer Staples-3.59%
Dollar General Corp.
  77,591   13,102,016
Dollar Tree, Inc.(b)
  113,941   17,584,515
Hershey Co. (The)
  65,885   15,239,859
Monster Beverage Corp.(b)
  399,094   22,943,914
        68,870,304
Energy-28.20%
APA Corp.
  988,724   40,033,435
Chevron Corp.
  141,119   23,095,536
ConocoPhillips
  313,150   36,864,018
Coterra Energy, Inc.(c)
  1,711,947   47,147,020
Devon Energy Corp.
  423,622   22,875,588
Diamondback Energy, Inc.
  319,736   47,103,507
EOG Resources, Inc.
  229,777   30,452,346
EQT Corp.(c)
  1,039,495   43,845,899
Exxon Mobil Corp.
  233,669   25,058,664
Hess Corp.
  197,903   30,027,822
Marathon Oil Corp.
  1,131,861   29,733,988
Occidental Petroleum Corp.(c)
  462,746   29,213,155
ONEOK, Inc.
  453,231   30,384,606
Pioneer Natural Resources Co.
  161,212   36,380,712
Targa Resources Corp.
  598,437   49,065,850
Williams Cos., Inc. (The)
  572,057   19,707,364
        540,989,510
Financials-5.47%
Ameriprise Financial, Inc.
  40,293   14,040,096
Arch Capital Group Ltd.(b)(c)
  338,488   26,297,133
Jack Henry & Associates, Inc.(c)
  86,178   14,440,847
Progressive Corp. (The)
  118,960   14,986,581
Raymond James Financial, Inc.
  172,058   18,938,424
W.R. Berkley Corp.
  264,318   16,305,777
        105,008,858
Health Care-19.78%
AbbVie, Inc.
  132,987   19,892,195
Amgen, Inc.
  50,266   11,769,784
Bristol-Myers Squibb Co.
  256,385   15,944,583
Danaher Corp.
  79,105   20,176,521
DexCom, Inc.(b)
  107,293   13,364,416
Elevance Health, Inc.
  47,244   22,281,688
Eli Lilly and Co.
  51,911   23,596,145
Gilead Sciences, Inc.
  152,565   11,616,299
Hologic, Inc.(b)
  231,307   18,370,402
Incyte Corp.(b)
  276,385   17,611,252
Insulet Corp.(b)
  63,262   17,507,759
Merck & Co., Inc.
  149,137   15,905,461
Moderna, Inc.(b)
  133,803   15,743,261
Molina Healthcare, Inc.(b)
  85,700   26,094,793
Pfizer, Inc.
  479,662   17,296,612
Regeneron Pharmaceuticals, Inc.(b)
  50,514   37,476,842
Thermo Fisher Scientific, Inc.
  27,092   14,864,297
UnitedHealth Group, Inc.
  29,946   15,163,756
Vertex Pharmaceuticals, Inc.(b)
  127,141   44,796,860
        379,472,926
  Shares   Value
Industrials-8.29%
Axon Enterprise, Inc.(b)
  129,306   $24,041,865
Deere & Co.
  40,334   17,327,486
Expeditors International of Washington, Inc.
  254,888   32,447,243
J.B. Hunt Transport Services, Inc.
  89,527   18,258,136
Quanta Services, Inc.
  125,869   25,377,708
Rollins, Inc.
  427,483   17,454,131
W.W. Grainger, Inc.
  32,727   24,168,562
        159,075,131
Information Technology-16.45%
Apple, Inc.
  133,215   26,170,087
Arista Networks, Inc.(b)
  133,688   20,733,672
Enphase Energy, Inc.(b)(c)
  126,471   19,202,092
Fair Isaac Corp.(b)
  23,818   19,958,769
Fortinet, Inc.(b)
  392,473   30,503,002
KLA Corp.
  70,172   36,064,899
Lam Research Corp.
  42,307   30,397,156
Monolithic Power Systems, Inc.
  44,920   25,132,291
ON Semiconductor Corp.(b)
  235,954   25,424,044
Palo Alto Networks, Inc.(b)(c)
  121,876   30,464,125
PTC, Inc.(b)
  142,537   20,783,320
QUALCOMM, Inc.
  120,283   15,897,804
SolarEdge Technologies, Inc.(b)
  61,367   14,817,676
        315,548,937
Materials-11.31%
Albemarle Corp.
  47,204   10,020,465
CF Industries Holdings, Inc.
  439,486   36,073,011
FMC Corp.
  119,504   11,499,870
Freeport-McMoRan, Inc.
  428,518   19,133,329
Mosaic Co. (The)
  990,627   40,377,956
Nucor Corp.
  306,521   52,749,199
Steel Dynamics, Inc.
  442,799   47,193,517
        217,047,347
Utilities-1.90%
PG&E Corp.(b)
  2,075,308   36,546,174
Total Common Stocks & Other Equity Interests

(Cost $1,760,660,967)
  1,917,347,264
Money Market Funds-0.01%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $151,820)
  151,820   151,820
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.94%

(Cost $1,760,812,787)
  1,917,499,084
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-2.69%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  14,457,008   14,457,008
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Pure Growth ETF (RPG)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  37,175,165   $37,175,165
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $51,630,072)
  51,632,173
TOTAL INVESTMENTS IN SECURITIES-102.63%

(Cost $1,812,442,859)
  1,969,131,257
OTHER ASSETS LESS LIABILITIES-(2.63)%
  (50,374,327)
NET ASSETS-100.00%
  $1,918,756,930
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 $1,123,323   $7,101,003   $(8,072,506)   $-   $-   $151,820   $2,683
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 15,236,858   127,489,993   (128,269,843)   -   -   14,457,008   240,465*
Invesco Private Prime Fund 39,180,492   237,120,525   (239,131,531)   2,101   3,578   37,175,165   626,622*
Total $55,540,673   $371,711,521   $(375,473,880)   $2,101   $3,578   $51,783,993   $869,770
    
* 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 S&P 500® Pure Value ETF (RPV)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.99%
Communication Services-8.15%
AT&T, Inc.
  1,416,679   $20,570,179
Fox Corp., Class A(b)
  335,227   11,213,343
Fox Corp., Class B
  154,470   4,851,903
News Corp., Class A(b)
  778,399   15,427,868
News Corp., Class B(b)
  241,045   4,847,415
Paramount Global, Class B(b)
  3,565,102   57,148,585
Verizon Communications, Inc.
  348,207   11,866,895
Warner Bros Discovery, Inc.(c)
  3,492,088   45,641,590
        171,567,778
Consumer Discretionary-19.73%
Best Buy Co., Inc.(b)
  371,339   30,839,704
BorgWarner, Inc.(b)
  608,661   28,302,737
CarMax, Inc.(b)(c)
  632,882   52,282,382
Ford Motor Co.
  3,382,178   44,678,572
General Motors Co.
  1,417,936   54,406,204
Lennar Corp., Class A
  340,128   43,138,434
Mohawk Industries, Inc.(c)
  442,217   47,025,356
Newell Brands, Inc.(b)
  2,276,001   25,400,171
PulteGroup, Inc.(b)
  681,059   57,474,569
Whirlpool Corp.(b)
  221,932   32,015,910
        415,564,039
Consumer Staples-7.69%
Kraft Heinz Co. (The)
  488,323   17,667,526
Kroger Co. (The)
  735,197   35,759,982
Molson Coors Beverage Co., Class B
  527,628   36,812,606
Tyson Foods, Inc., Class A
  639,897   35,655,061
Walgreens Boots Alliance, Inc.(b)
  1,205,098   36,116,787
        162,011,962
Energy-4.78%
Kinder Morgan, Inc.
  632,355   11,199,007
Phillips 66
  427,857   47,727,448
Valero Energy Corp.
  323,606   41,716,050
        100,642,505
Financials-22.31%
Allstate Corp. (The)
  105,265   11,861,260
American International Group, Inc.
  448,184   27,016,532
Assurant, Inc.
  165,391   22,246,743
Bank of America Corp.
  363,856   11,643,392
Bank of New York Mellon Corp. (The)
  405,490   18,393,026
Berkshire Hathaway, Inc., Class B(c)
  99,718   35,096,747
Capital One Financial Corp.
  331,099   38,745,205
Citigroup, Inc.
  914,497   43,584,927
Citizens Financial Group, Inc.
  516,529   16,663,226
Fidelity National Information Services, Inc.(b)
  332,451   20,073,391
Franklin Resources, Inc.(b)
  711,609   20,807,447
Global Payments, Inc.
  109,691   12,093,433
Goldman Sachs Group, Inc. (The)
  36,497   12,988,187
Hartford Financial Services Group, Inc. (The)
  167,084   12,009,998
Invesco Ltd.(d)
  1,696,495   28,501,116
Lincoln National Corp.(b)
  610,818   17,127,337
Loews Corp.
  479,870   30,063,856
M&T Bank Corp.
  68,027   9,514,256
MetLife, Inc.
  156,962   9,883,897
Prudential Financial, Inc.
  146,770   14,161,837
State Street Corp.
  189,399   13,720,064
Synchrony Financial
  409,195   14,133,595
  Shares   Value
Financials-(continued)
Truist Financial Corp.
  371,260   $12,333,257
Wells Fargo & Co.
  370,509   17,102,696
        469,765,425
Health Care-9.00%
AmerisourceBergen Corp.
  163,794   30,613,099
Cardinal Health, Inc.
  306,187   28,006,925
Centene Corp.(c)
  417,801   28,448,070
CVS Health Corp.
  312,967   23,375,505
DaVita, Inc.(c)
  155,147   15,823,443
Universal Health Services, Inc., Class B
  167,419   23,264,544
Viatris, Inc.(b)
  3,800,687   40,021,234
        189,552,820
Industrials-9.22%
Alaska Air Group, Inc.(b)(c)
  490,644   23,860,018
American Airlines Group, Inc.(b)(c)
  1,505,363   25,214,830
Delta Air Lines, Inc.
  504,401   23,333,590
FedEx Corp.
  166,246   44,878,108
Southwest Airlines Co.(b)
  286,510   9,787,181
Stanley Black & Decker, Inc.(b)
  316,466   31,415,580
United Airlines Holdings, Inc.(c)
  657,920   35,731,635
        194,220,942
Information Technology-8.36%
DXC Technology Co.(c)
  1,365,038   37,743,300
Hewlett Packard Enterprise Co.
  2,087,823   36,286,364
HP, Inc.
  561,659   18,439,265
Intel Corp.
  582,334   20,830,087
Micron Technology, Inc.
  279,425   19,948,151
Western Digital Corp.(c)
  1,005,759   42,805,103
        176,052,270
Materials-8.30%
Celanese Corp.
  112,363   14,089,197
Dow, Inc.
  462,447   26,114,382
DuPont de Nemours, Inc.
  156,130   12,120,372
Eastman Chemical Co.
  175,293   15,001,575
International Paper Co.
  810,556   29,228,649
LyondellBasell Industries N.V., Class A
  321,626   31,795,946
WestRock Co.
  1,397,212   46,513,188
        174,863,309
Real Estate-0.62%
CBRE Group, Inc., Class A(c)
  155,613   12,964,119
Utilities-1.83%
Evergy, Inc.
  170,113   10,201,677
Exelon Corp.
  367,602   15,387,820
Pinnacle West Capital Corp.
  157,486   13,042,990
        38,632,487
Total Common Stocks & Other Equity Interests

(Cost $2,276,280,889)
  2,105,837,656
Money Market Funds-0.02%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $359,096)
  359,096   359,096
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.01%

(Cost $2,276,639,985)
  2,106,196,752
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Pure Value ETF (RPV)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-9.44%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  55,668,261   $55,668,261
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  143,146,957   143,146,957
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $198,812,483)
  198,815,218
TOTAL INVESTMENTS IN SECURITIES-109.45%

(Cost $2,475,452,468)
  2,305,011,970
OTHER ASSETS LESS LIABILITIES-(9.45)%
  (198,974,443)
NET ASSETS-100.00%
  $2,106,037,527
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
Invesco Ltd. $39,169,938   $1,066,564   $(10,299,314)   $1,063,252   $(2,499,324)   $28,501,116   $440,200
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class 1,188,078   18,064,834   (18,893,816)   -   -   359,096   7,870
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 80,004,554   186,739,225   (211,075,518)   -   -   55,668,261   710,515*
Invesco Private Prime Fund 205,725,996   376,401,129   (438,971,110)   28,080   (37,138)   143,146,957   1,921,098*
Total $326,088,566   $582,271,752   $(679,239,758)   $1,091,332   $(2,536,462)   $227,675,430   $3,079,683
    
* 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 S&P 500® Top 50 ETF (XLG)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-13.26%
Alphabet, Inc., Class A(b)
  682,956   $90,641,920
Alphabet, Inc., Class C(b)
  587,619   78,217,965
Comcast Corp., Class A
  477,756   21,623,236
Meta Platforms, Inc., Class A(b)
  254,313   81,024,122
Netflix, Inc.(b)
  51,051   22,409,858
Verizon Communications, Inc.
  482,797   16,453,722
Walt Disney Co. (The)(b)
  209,926   18,660,322
        329,031,145
Consumer Discretionary-12.06%
Amazon.com, Inc.(b)
  1,026,198   137,182,149
Home Depot, Inc. (The)
  116,397   38,857,975
McDonald’s Corp.
  83,895   24,598,014
NIKE, Inc., Class B
  141,528   15,623,276
Tesla, Inc.(b)
  309,722   82,828,954
        299,090,368
Consumer Staples-6.93%
Coca-Cola Co. (The)
  447,307   27,701,723
Costco Wholesale Corp.
  50,947   28,564,454
PepsiCo, Inc.
  158,357   29,685,603
Philip Morris International, Inc.
  178,306   17,780,674
Procter & Gamble Co. (The)
  270,909   42,343,077
Walmart, Inc.
  161,207   25,770,551
        171,846,082
Energy-3.33%
Chevron Corp.
  200,295   32,780,279
Exxon Mobil Corp.
  464,849   49,850,407
        82,630,686
Financials-10.19%
Bank of America Corp.
  796,843   25,498,976
Berkshire Hathaway, Inc., Class B(b)
  205,051   72,169,750
JPMorgan Chase & Co.
  335,928   53,063,187
Mastercard, Inc., Class A
  96,185   37,923,822
Visa, Inc., Class A(c)
  185,996   44,216,829
Wells Fargo & Co.
  430,978   19,893,944
        252,766,508
Health Care-12.55%
Abbott Laboratories
  199,839   22,248,076
AbbVie, Inc.
  202,805   30,335,572
Bristol-Myers Squibb Co.
  241,289   15,005,763
Danaher Corp.
  76,268   19,452,916
Eli Lilly and Co.
  90,570   41,168,593
Johnson & Johnson
  298,791   50,056,456
Merck & Co., Inc.
  291,596   31,098,713
Pfizer, Inc.
  648,746   23,393,781
Thermo Fisher Scientific, Inc.
  44,330   24,322,098
UnitedHealth Group, Inc.
  107,092   54,228,176
        311,310,144
  Shares   Value
Information Technology-40.04%
Accenture PLC, Class A
  72,630   $22,976,501
Adobe, Inc.(b)
  52,754   28,812,652
Advanced Micro Devices, Inc.(b)
  185,069   21,171,894
Apple, Inc.
  1,699,791   333,923,942
Broadcom, Inc.
  47,925   43,067,801
Cisco Systems, Inc.
  470,805   24,500,692
Intel Corp.
  479,074   17,136,477
Microsoft Corp.
  854,839   287,157,517
NVIDIA Corp.
  284,297   132,849,145
Oracle Corp.
  176,775   20,723,333
QUALCOMM, Inc.
  127,981   16,915,249
Salesforce, Inc.(b)
  112,494   25,312,275
Texas Instruments, Inc.
  104,315   18,776,700
        993,324,178
Materials-0.89%
Linde PLC
  56,265   21,981,048
Utilities-0.69%
NextEra Energy, Inc.
  232,418   17,036,239
Total Common Stocks & Other Equity Interests

(Cost $2,032,115,725)
  2,479,016,398
Money Market Funds-0.01%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $370,075)
  370,075   370,075
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $2,032,485,800)
  2,479,386,473
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-1.78%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  12,380,812   12,380,812
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  31,836,373   31,836,373
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $44,214,176)
  44,217,185
TOTAL INVESTMENTS IN SECURITIES-101.73%

(Cost $2,076,699,976)
  2,523,603,658
OTHER ASSETS LESS LIABILITIES-(1.73)%
  (42,985,595)
NET ASSETS-100.00%
  $2,480,618,063
See accompanying notes which are an integral part of this schedule.
Invesco S&P 500® Top 50 ETF (XLG)—(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
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $10,737,664   $(10,367,589)   $-   $-   $370,075   $8,013
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 10,832,299   86,505,852   (84,957,339)   -   -   12,380,812   204,834*
Invesco Private Prime Fund 27,854,484   219,827,439   (215,840,979)   3,172   (7,743)   31,836,373   540,513*
Total $38,686,783   $317,070,955   $(311,165,907)   $3,172   $(7,743)   $44,587,260   $753,360
    
* 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 S&P MidCap 400® Pure Growth ETF (RFG)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Communication Services-3.13%
Nexstar Media Group, Inc., Class A(b)
  24,693   $4,610,677
World Wrestling Entertainment, Inc., Class A(b)
  34,572   3,630,060
        8,240,737
Consumer Discretionary-10.31%
Crocs, Inc.(b)(c)
  18,583   2,013,468
Deckers Outdoor Corp.(c)
  4,943   2,687,460
Grand Canyon Education, Inc.(c)
  32,106   3,485,106
H&R Block, Inc.(b)
  54,833   1,842,937
Murphy USA, Inc.
  17,578   5,396,974
Service Corp. International(b)
  25,582   1,705,040
Tempur Sealy International, Inc.
  77,882   3,475,874
Texas Roadhouse, Inc.
  23,626   2,635,480
Visteon Corp.(c)
  10,603   1,633,816
Wingstop, Inc.
  13,260   2,235,371
        27,111,526
Consumer Staples-5.67%
Casey’s General Stores, Inc.
  14,209   3,590,046
Celsius Holdings, Inc.(b)(c)
  43,217   6,253,500
Darling Ingredients, Inc.(b)(c)
  48,294   3,344,359
Lancaster Colony Corp.
  9,000   1,733,670
        14,921,575
Energy-20.61%
Antero Resources Corp.(c)
  180,749   4,835,036
CNX Resources Corp.(b)(c)
  242,015   4,937,106
DT Midstream, Inc.(b)
  68,518   3,667,083
Matador Resources Co.
  91,394   5,084,248
Murphy Oil Corp.
  90,152   3,900,877
NOV, Inc.
  121,518   2,440,081
PBF Energy, Inc., Class A
  169,732   8,052,086
PDC Energy, Inc.
  85,102   6,458,391
Range Resources Corp.(b)
  192,057   6,036,352
Southwestern Energy Co.(c)
  733,531   4,753,281
Valaris Ltd.(b)(c)
  52,506   4,032,461
        54,197,002
Financials-11.17%
Annaly Capital Management, Inc.
  297,754   5,981,878
FirstCash Holdings, Inc.
  19,965   1,902,265
Jefferies Financial Group, Inc.(b)
  106,493   3,917,877
Kinsale Capital Group, Inc.(b)
  17,106   6,374,209
RLI Corp.
  31,277   4,172,665
Selective Insurance Group, Inc.(b)
  17,335   1,788,799
SLM Corp.
  205,980   3,332,756
WEX, Inc.(c)
  10,018   1,896,908
        29,367,357
Health Care-12.77%
Exelixis, Inc.(c)
  97,461   1,920,956
Halozyme Therapeutics, Inc.(c)
  87,351   3,752,599
HealthEquity, Inc.(b)(c)
  21,595   1,467,164
Inari Medical, Inc.(b)(c)
  46,165   2,634,637
Jazz Pharmaceuticals PLC(c)
  16,277   2,122,846
Lantheus Holdings, Inc.(c)
  37,599   3,251,938
Medpace Holdings, Inc.(b)(c)
  12,657   3,204,373
Neurocrine Biosciences, Inc.(c)
  37,072   3,777,266
Option Care Health, Inc.(c)
  75,951   2,565,625
Repligen Corp.(b)(c)
  10,556   1,810,987
Shockwave Medical, Inc.(c)
  21,371   5,569,283
United Therapeutics Corp.(c)
  6,207   1,506,563
        33,584,237
  Shares   Value
Industrials-18.57%
Avis Budget Group, Inc.(b)(c)
  16,421   $3,617,382
Builders FirstSource, Inc.(c)
  63,500   9,171,305
BWX Technologies, Inc.
  33,086   2,282,934
Carlisle Cos., Inc.(b)
  8,286   2,296,879
Clean Harbors, Inc.(c)
  19,590   3,257,033
Concentrix Corp.
  17,862   1,486,833
EMCOR Group, Inc.
  13,469   2,896,374
ExlService Holdings, Inc.(c)
  13,706   1,931,861
FTI Consulting, Inc.(b)(c)
  11,739   2,056,203
KBR, Inc.
  32,938   2,025,358
Landstar System, Inc.(b)
  19,403   3,950,257
Paylocity Holding Corp.(c)
  7,939   1,800,962
Simpson Manufacturing Co., Inc.(b)
  23,587   3,726,746
Toro Co. (The)(b)
  14,248   1,448,309
UFP Industries, Inc.
  44,271   4,549,288
Valmont Industries, Inc.
  8,820   2,335,095
        48,832,819
Information Technology-4.90%
Amkor Technology, Inc.
  138,951   4,042,085
Belden, Inc.
  27,371   2,645,133
Calix, Inc.(b)(c)
  26,223   1,182,920
Cirrus Logic, Inc.(b)(c)
  32,234   2,604,507
Dropbox, Inc., Class A(b)(c)
  89,177   2,403,320
        12,877,965
Materials-10.10%
Cabot Corp.
  29,952   2,126,592
Eagle Materials, Inc.
  12,465   2,298,172
Louisiana-Pacific Corp.
  63,194   4,810,959
MP Materials Corp.(b)(c)
  85,165   2,031,185
Olin Corp.
  42,816   2,469,627
Reliance Steel & Aluminum Co.
  18,376   5,381,595
Silgan Holdings, Inc.
  47,604   2,087,436
Westlake Corp.(b)
  39,016   5,364,700
        26,570,266
Utilities-2.73%
Essential Utilities, Inc.(b)
  64,447   2,725,464
OGE Energy Corp.(b)
  58,402   2,111,232
ONE Gas, Inc.(b)
  29,581   2,340,744
        7,177,440
Total Common Stocks & Other Equity Interests

(Cost $230,619,393)
  262,880,924
Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $152,244)
  152,244   152,244
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.02%

(Cost $230,771,637)
  263,033,168
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-20.10%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  14,799,496   14,799,496
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap 400® Pure Growth ETF (RFG)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  38,055,846   $38,055,846
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $52,853,185)
  52,855,342
TOTAL INVESTMENTS IN SECURITIES-120.12%

(Cost $283,624,822)
  315,888,510
OTHER ASSETS LESS LIABILITIES-(20.12)%
  (52,913,113)
NET ASSETS-100.00%
  $262,975,397
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 $210,840   $818,637   $(877,233)   $-   $-   $152,244   $465
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 12,371,070   40,568,962   (38,140,536)   -   -   14,799,496   141,272*
Invesco Private Prime Fund 31,811,322   81,909,271   (75,664,746)   2,588   (2,589)   38,055,846   366,937*
Total $44,393,232   $123,296,870   $(114,682,515)   $2,588   $(2,589)   $53,007,586   $508,674
    
* 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 S&P MidCap 400® Pure Value ETF (RFV)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.99%
Communication Services-0.38%
Frontier Communications Parent, Inc.(b)(c)
  56,518   $1,029,193
Consumer Discretionary-35.65%
Adient PLC(b)
  109,967   4,680,195
Foot Locker, Inc.
  124,790   3,353,107
Gap, Inc. (The)(c)
  265,643   2,736,123
Goodyear Tire & Rubber Co. (The)(b)(c)
  730,175   11,741,214
Graham Holdings Co., Class B
  6,058   3,554,531
KB Home
  196,049   10,580,765
Kohl’s Corp.(c)
  228,582   6,503,158
Lear Corp.
  20,133   3,115,783
Lithia Motors, Inc., Class A
  23,453   7,282,860
Macy’s, Inc.
  196,396   3,258,210
Nordstrom, Inc.(c)
  172,344   3,982,870
PVH Corp.
  74,763   6,701,755
Skechers U.S.A., Inc., Class A(b)
  30,629   1,702,360
Taylor Morrison Home Corp., Class A(b)
  211,761   10,253,468
Thor Industries, Inc.(c)
  65,564   7,571,986
Toll Brothers, Inc.
  81,082   6,513,317
Topgolf Callaway Brands Corp.(b)(c)
  103,895   2,074,783
        95,606,485
Consumer Staples-1.86%
Pilgrim’s Pride Corp.(b)(c)
  147,195   3,646,020
Post Holdings, Inc.(b)
  15,760   1,344,328
        4,990,348
Financials-13.55%
Associated Banc-Corp(c)
  64,621   1,224,568
Brighthouse Financial, Inc.(b)
  125,571   6,546,016
CNO Financial Group, Inc.
  67,584   1,738,260
Essent Group Ltd.
  39,564   1,962,374
F.N.B. Corp.(c)
  115,443   1,476,516
First American Financial Corp.
  47,489   3,009,853
Janus Henderson Group PLC(c)
  78,422   2,301,686
Kemper Corp.
  32,050   1,633,588
MGIC Investment Corp.
  144,544   2,419,667
New York Community Bancorp, Inc.(c)
  335,185   4,649,016
Old Republic International Corp.
  85,486   2,356,849
Reinsurance Group of America, Inc.
  10,234   1,436,342
Starwood Property Trust, Inc.(c)
  70,078   1,453,419
Unum Group
  84,891   4,126,552
        36,334,706
Health Care-7.10%
Enovis Corp.(b)
  61,484   3,928,828
Patterson Cos., Inc.
  80,035   2,632,351
Perrigo Co. PLC(c)
  70,888   2,597,336
Syneos Health, Inc.(b)
  97,983   4,155,459
Tenet Healthcare Corp.(b)
  76,549   5,720,507
        19,034,481
Industrials-11.89%
Fluor Corp.(b)
  68,036   2,107,755
GXO Logistics, Inc.(b)(c)
  43,457   2,914,661
Hertz Global Holdings, Inc.(b)(c)
  77,781   1,310,610
JetBlue Airways Corp.(b)(c)
  753,842   5,857,352
ManpowerGroup, Inc.
  49,436   3,899,512
Ryder System, Inc.
  45,243   4,621,573
Univar Solutions, Inc.(b)
  97,015   3,506,122
XPO, Inc.(b)(c)
  110,525   7,652,751
        31,870,336
  Shares   Value
Information Technology-15.23%
Arrow Electronics, Inc.(b)
  49,008   $6,985,600
Avnet, Inc.
  136,104   6,601,044
Coherent Corp.(b)(c)
  47,884   2,267,786
Jabil, Inc.
  47,533   5,260,477
Kyndryl Holdings, Inc.(b)
  218,896   2,990,119
MKS Instruments, Inc.
  18,576   2,027,942
NCR Corp.(b)(c)
  136,427   3,667,158
TD SYNNEX Corp.
  51,377   5,071,424
Vishay Intertechnology, Inc.
  56,481   1,589,940
Xerox Holdings Corp.(c)
  273,978   4,378,169
        40,839,659
Materials-7.38%
Alcoa Corp.(c)
  35,216   1,274,467
Avient Corp.
  57,948   2,348,632
Cleveland-Cliffs, Inc.(b)
  361,473   6,379,999
Greif, Inc., Class A(c)
  31,686   2,343,813
United States Steel Corp.
  291,835   7,441,793
        19,788,704
Real Estate-5.87%
Cousins Properties, Inc.(c)
  74,985   1,831,884
Jones Lang LaSalle, Inc.(b)(c)
  17,712   2,949,934
Kilroy Realty Corp.(c)
  36,926   1,318,258
Medical Properties Trust, Inc.(c)
  163,449   1,649,200
Park Hotels & Resorts, Inc.(c)
  312,925   4,265,168
Sabra Health Care REIT, Inc.
  96,493   1,253,444
Vornado Realty Trust(c)
  110,251   2,478,442
        15,746,330
Utilities-1.08%
Southwest Gas Holdings, Inc.(c)
  22,053   1,454,175
UGI Corp.
  53,229   1,436,650
        2,890,825
Total Common Stocks & Other Equity Interests

(Cost $255,704,901)
  268,131,067
Money Market Funds-0.12%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(d)(e)

(Cost $325,322)
  325,322   325,322
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $256,030,223)
  268,456,389
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-16.53%
Invesco Private Government Fund, 5.24%(d)(e)(f)
  12,596,875   12,596,875
Invesco Private Prime Fund, 5.38%(d)(e)(f)
  31,725,323   31,725,323
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $44,320,456)
  44,322,198
TOTAL INVESTMENTS IN SECURITIES-116.64%

(Cost $300,350,679)
  312,778,587
OTHER ASSETS LESS LIABILITIES-(16.64)%
  (44,632,823)
NET ASSETS-100.00%
  $268,145,764
See accompanying notes which are an integral part of this schedule.
Invesco S&P MidCap 400® Pure Value ETF (RFV)—(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 $110,321   $1,384,571   $(1,169,570)   $-   $-   $325,322   $1,051
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 14,295,372   38,436,660   (40,135,157)   -   -   12,596,875   160,914*
Invesco Private Prime Fund 36,759,529   66,545,325   (71,576,973)   4,109   (6,667)   31,725,323   423,333*
Total $51,165,222   $106,366,556   $(112,881,700)   $4,109   $(6,667)   $44,647,520   $585,298
    
* 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 S&P SmallCap 600® Pure Growth ETF (RZG)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.91%
Communication Services-1.63%
ATN International, Inc.
  16,958   $616,254
Cars.com, Inc.(b)
  43,972   1,003,001
        1,619,255
Consumer Discretionary-8.28%
Adtalem Global Education, Inc.(b)(c)
  23,027   995,688
Cavco Industries, Inc.(b)
  2,888   853,837
Ethan Allen Interiors, Inc.(c)
  19,652   618,448
Green Brick Partners, Inc.(b)
  41,400   2,339,928
Jack in the Box, Inc.(c)
  10,066   1,000,661
Monarch Casino & Resort, Inc.
  12,178   844,179
Stride, Inc.(b)(c)
  15,994   611,131
XPEL, Inc.(b)(c)(d)
  11,952   970,861
        8,234,733
Consumer Staples-5.31%
Cal-Maine Foods, Inc.
  16,710   771,835
elf Beauty, Inc.(b)
  14,259   1,664,310
Hostess Brands, Inc.(b)
  16,431   395,001
Medifast, Inc.(c)
  4,080   415,711
MGP Ingredients, Inc.(c)
  6,985   796,360
Simply Good Foods Co. (The)(b)
  20,148   779,929
Tootsie Roll Industries, Inc.
  13,267   462,488
        5,285,634
Energy-11.20%
Baytex Energy Corp. (Canada)(b)
  0   1
Civitas Resources, Inc.
  22,327   1,671,399
Comstock Resources, Inc.
  127,203   1,621,838
CONSOL Energy, Inc.
  6,757   503,532
Dorian LPG Ltd.
  53,937   1,604,086
Northern Oil and Gas, Inc.(c)
  30,010   1,181,494
REX American Resources Corp.(b)
  42,628   1,578,089
RPC, Inc.
  46,416   386,181
SM Energy Co.
  39,118   1,419,592
Vital Energy, Inc.(b)(c)
  22,394   1,181,955
        11,148,167
Financials-12.98%
ARMOUR Residential REIT, Inc.
  241,312   1,233,104
Avantax, Inc.(b)
  26,066   674,588
BancFirst Corp.(c)
  5,630   562,437
Bancorp, Inc. (The)(b)(c)
  13,291   503,729
Banner Corp.
  4,948   235,574
City Holding Co.(c)
  4,548   449,843
CVB Financial Corp.
  12,285   231,818
Dime Community Bancshares, Inc.
  17,222   385,773
First Bancorp
  51,772   768,814
Hanmi Financial Corp.
  28,441   540,379
Heritage Financial Corp.
  12,483   234,181
Mr. Cooper Group, Inc.(b)
  28,254   1,637,884
NBT Bancorp, Inc.
  11,189   416,231
OFG Bancorp
  33,391   1,118,265
Palomar Holdings, Inc.(b)(c)
  12,357   748,340
Piper Sandler Cos.
  5,408   791,515
Preferred Bank
  7,124   470,754
ServisFirst Bancshares, Inc.
  5,645   336,894
Stellar Bancorp, Inc.(c)
  18,079   449,444
StoneX Group, Inc.(b)
  12,253   1,127,398
        12,916,965
Health Care-17.81%
AdaptHealth Corp.(b)(c)
  30,578   420,142
  Shares   Value
Health Care-(continued)
Addus HomeCare Corp.(b)(c)
  3,395   $310,880
AMN Healthcare Services, Inc.(b)(c)
  9,387   1,005,817
Amphastar Pharmaceuticals, Inc.(b)
  23,208   1,408,493
Arcus Biosciences, Inc.(b)(c)
  19,557   389,184
Catalyst Pharmaceuticals, Inc.(b)(c)
  76,626   1,059,738
Collegium Pharmaceutical, Inc.(b)
  16,455   374,516
Corcept Therapeutics, Inc.(b)(c)
  28,644   729,849
Cross Country Healthcare, Inc.(b)(c)
  45,632   1,177,306
Cytokinetics, Inc.(b)(c)
  26,667   889,344
Dynavax Technologies Corp.(b)(c)
  91,777   1,283,960
Ensign Group, Inc. (The)
  8,685   841,316
Innoviva, Inc.(b)(c)
  55,886   757,255
iTeos Therapeutics, Inc.(b)
  87,927   1,236,254
NextGen Healthcare, Inc.(b)(c)
  20,202   335,959
OmniAb Operations, Inc., Rts., expiring 11/02/2027(b)(c)(e)
  2,880   0
OmniAb Operations, Inc., Rts., expiring 11/02/2027(b)(c)(e)
  2,881   0
Pacira BioSciences, Inc.(b)
  7,259   263,865
Privia Health Group, Inc.(b)
  16,755   467,800
REGENXBIO, Inc.(b)(c)
  32,397   615,543
Supernus Pharmaceuticals, Inc.(b)
  16,382   502,764
UFP Technologies, Inc.(b)(c)
  5,504   1,071,436
uniQure N.V. (Netherlands)(b)
  28,933   300,035
Veradigm, Inc.(b)
  25,090   339,217
Vir Biotechnology, Inc.(b)(c)
  63,128   888,842
Xencor, Inc.(b)(c)
  13,181   320,166
Zynex, Inc.(b)(c)
  75,402   735,924
        17,725,605
Industrials-16.50%
AAON, Inc.(c)
  8,464   890,921
AeroVironment, Inc.(b)
  4,064   387,137
Applied Industrial Technologies, Inc.
  3,550   514,714
Boise Cascade Co.
  15,292   1,582,569
Comfort Systems USA, Inc.
  7,041   1,224,923
Encore Wire Corp.(c)
  8,331   1,422,018
EnPro Industries, Inc.
  4,349   603,554
Forward Air Corp.
  6,568   780,541
Franklin Electric Co., Inc.
  4,564   451,014
Hillenbrand, Inc.(c)
  8,556   444,399
Lindsay Corp.(c)
  4,849   642,638
Marten Transport Ltd.
  34,736   787,118
Matson, Inc.
  18,034   1,685,458
Mueller Industries, Inc.(c)
  14,137   1,145,945
NV5 Global, Inc.(b)(c)
  3,845   421,220
PGT Innovations, Inc.(b)
  39,702   1,135,874
Sun Country Airlines Holdings, Inc.(b)(c)
  32,575   702,317
Titan International, Inc.(b)
  56,447   705,023
Verra Mobility Corp., Class A(b)(c)
  42,585   893,859
        16,421,242
Information Technology-19.88%
A10 Networks, Inc.
  20,520   318,470
Advanced Energy Industries, Inc.(c)
  11,560   1,447,081
Agilysys, Inc.(b)
  6,457   475,429
Alpha & Omega Semiconductor Ltd.(b)
  23,070   758,542
Axcelis Technologies, Inc.(b)(c)
  16,756   3,359,243
Badger Meter, Inc.
  3,653   601,430
Clearfield, Inc.(b)(c)
  12,320   575,837
CTS Corp.(c)
  10,320   460,582
Digi International, Inc.(b)(c)
  12,262   514,146
Diodes, Inc.(b)
  5,887   556,263
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600® Pure Growth ETF (RZG)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Information Technology-(continued)
DoubleVerify Holdings, Inc.(b)(c)
  33,104   $1,393,678
Extreme Networks, Inc.(b)
  17,761   472,265
Fabrinet (Thailand)(b)
  4,998   617,953
Harmonic, Inc.(b)
  45,765   682,814
Kulicke & Soffa Industries, Inc. (Singapore)(c)
  18,681   1,118,618
MaxLinear, Inc.(b)
  11,164   275,416
NetScout Systems, Inc.(b)
  9,948   278,047
Onto Innovation, Inc.(b)(c)
  6,175   767,676
Photronics, Inc.(b)
  48,010   1,269,864
Plexus Corp.(b)(c)
  4,893   481,911
Progress Software Corp.
  9,570   574,774
Rambus, Inc.(b)
  28,155   1,762,784
SPS Commerce, Inc.(b)
  2,462   444,120
Veeco Instruments, Inc.(b)(c)
  20,300   571,648
        19,778,591
Materials-3.76%
American Vanguard Corp.
  24,345   439,671
Hawkins, Inc.(c)
  21,953   1,026,303
Innospec, Inc.
  4,429   474,523
Kaiser Aluminum Corp.
  9,473   769,207
Livent Corp.(b)(c)
  16,337   402,217
Myers Industries, Inc.
  31,872   625,010
        3,736,931
Real Estate-1.80%
Marcus & Millichap, Inc.(c)
  16,766   614,977
St. Joe Co. (The)(c)
  18,592   1,180,220
        1,795,197
Utilities-0.76%
SJW Group(c)
  5,197   366,181
Unitil Corp.
  7,506   390,612
        756,793
Total Common Stocks & Other Equity Interests

(Cost $89,204,961)
  99,419,113
  Shares   Value
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(f)(g)

(Cost $93,924)
  93,924   $93,924
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.00%

(Cost $89,298,885)
  99,513,037
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-23.19%
Invesco Private Government Fund, 5.24%(f)(g)(h)
  6,462,918   6,462,918
Invesco Private Prime Fund, 5.38%(f)(g)(h)
  16,618,932   16,618,932
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $23,081,296)
  23,081,850
TOTAL INVESTMENTS IN SECURITIES-123.19%

(Cost $112,380,181)
  122,594,887
OTHER ASSETS LESS LIABILITIES-(23.19)%
  (23,081,706)
NET ASSETS-100.00%
  $99,513,181
 
Investment Abbreviations:
REIT -Real Estate Investment Trust
Rts. -Rights
    
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2023.
(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) Security valued using significant unobservable inputs (Level 3). See Note 1.
(f) 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 $-   $866,031   $(772,107)   $-   $-   $93,924   $647
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600® Pure Growth ETF (RZG)—(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 $7,134,462   $13,875,464   $(14,547,008)   $-   $-   $6,462,918   $87,326*
Invesco Private Prime Fund 20,506,800   29,746,859   (33,634,672)   2,322   (2,377)   16,618,932   229,528*
Total $27,641,262   $44,488,354   $(48,953,787)   $2,322   $(2,377)   $23,175,774   $317,501
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(g) The rate shown is the 7-day SEC standardized yield as of July 31, 2023.
(h) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments(a)
Invesco S&P SmallCap 600® Pure Value ETF (RZV)
July 31, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Communication Services-6.51%
AMC Networks, Inc., Class A(b)(c)
  153,733   $1,940,111
Consolidated Communications Holdings, Inc.(b)
  410,078   1,468,079
DISH Network Corp., Class A(b)(c)
  503,751   3,994,745
E.W. Scripps Co. (The), Class A(b)(c)
  163,376   1,610,887
Lumen Technologies, Inc.
  1,501,291   2,687,311
Marcus Corp. (The)(c)
  46,220   721,032
Scholastic Corp.
  15,689   677,608
Telephone & Data Systems, Inc.(c)
  314,543   2,522,635
Thryv Holdings, Inc.(b)(c)
  51,329   1,216,497
        16,838,905
Consumer Discretionary-30.98%
Aaron’s Co., Inc. (The)(c)
  270,667   4,281,952
Abercrombie & Fitch Co., Class A(b)(c)
  77,111   3,054,367
American Axle & Manufacturing Holdings, Inc.(b)
  140,181   1,324,710
American Eagle Outfitters, Inc.(c)
  63,678   894,676
America’s Car-Mart, Inc.(b)(c)
  35,198   4,192,786
Caleres, Inc.(c)
  64,880   1,754,355
Century Communities, Inc.
  59,217   4,572,737
Chico’s FAS, Inc.(b)
  168,946   1,030,570
Dana, Inc.
  153,113   2,906,085
Designer Brands, Inc., Class A
  124,741   1,241,173
G-III Apparel Group Ltd.(b)(c)
  241,749   5,006,622
Group 1 Automotive, Inc.
  11,315   2,925,267
Guess?, Inc.(c)
  39,971   838,991
Hanesbrands, Inc.(c)
  281,600   1,484,032
La-Z-Boy, Inc.(c)
  54,323   1,704,112
LGI Homes, Inc.(b)(c)
  6,217   862,609
M.D.C. Holdings, Inc.
  80,992   4,153,270
M/I Homes, Inc.(b)
  76,707   7,670,700
MarineMax, Inc.(b)(c)
  80,481   3,245,799
Meritage Homes Corp.
  22,373   3,332,458
ODP Corp. (The)(b)(c)
  39,836   1,987,020
Patrick Industries, Inc.(c)
  37,774   3,269,340
Phinia, Inc.(b)
  42,544   1,206,973
Sally Beauty Holdings, Inc.(b)(c)
  96,040   1,149,599
Shoe Carnival, Inc.(c)
  44,913   1,195,135
Signet Jewelers Ltd.
  16,497   1,327,843
Sleep Number Corp.(b)(c)
  29,079   805,197
Sonic Automotive, Inc., Class A(c)
  36,148   1,731,128
Standard Motor Products, Inc.(c)
  22,136   844,931
Tri Pointe Homes, Inc.(b)
  138,386   4,411,746
Upbound Group, Inc.(c)
  57,958   2,007,085
Urban Outfitters, Inc.(b)(c)
  35,386   1,286,989
Wolverine World Wide, Inc.
  190,600   2,414,902
        80,115,159
Consumer Staples-3.05%
B&G Foods, Inc.(c)
  111,648   1,480,452
Fresh Del Monte Produce, Inc.
  112,456   2,989,081
SpartanNash Co.
  57,464   1,289,492
United Natural Foods, Inc.(b)
  47,985   998,088
Universal Corp.
  22,316   1,128,520
        7,885,633
Energy-3.80%
Bristow Group, Inc.(b)
  53,486   1,645,765
Helix Energy Solutions Group, Inc.(b)
  157,717   1,514,083
Oil States International, Inc.(b)
  284,976   2,291,207
  Shares   Value
Energy-(continued)
Par Pacific Holdings, Inc.(b)
  71,467   $2,249,781
World Kinect Corp.
  94,739   2,135,417
        9,836,253
Financials-12.55%
Ambac Financial Group, Inc.(b)
  68,956   975,038
Apollo Commercial Real Estate Finance, Inc.(c)
  82,814   977,205
Bread Financial Holdings, Inc.
  39,660   1,648,666
Encore Capital Group, Inc.(b)(c)
  21,616   1,156,456
Enova International, Inc.(b)
  15,780   869,320
EZCORP, Inc., Class A(b)(c)
  198,324   1,796,815
Genworth Financial, Inc., Class A(b)
  680,367   3,986,951
Green Dot Corp., Class A(b)(c)
  39,918   780,397
Hilltop Holdings, Inc.
  21,804   674,398
Hope Bancorp, Inc.
  58,047   630,390
Navient Corp.(c)
  116,009   2,208,811
PacWest Bancorp(c)
  100,153   931,423
ProAssurance Corp.
  38,647   649,270
PROG Holdings, Inc.(b)(c)
  74,721   3,032,178
Radian Group, Inc.
  60,858   1,638,906
Ready Capital Corp.
  56,270   651,044
SiriusPoint Ltd. (Bermuda)(b)(c)
  187,042   1,746,972
Stewart Information Services Corp.(c)
  65,705   3,096,677
United Fire Group, Inc.
  30,792   740,240
Universal Insurance Holdings, Inc.
  122,851   1,907,876
World Acceptance Corp.(b)(c)
  14,920   2,355,719
        32,454,752
Health Care-2.90%
Emergent BioSolutions, Inc.(b)(c)
  224,725   1,546,108
Enhabit, Inc.(b)(c)
  205,039   2,815,186
Orthofix Medical, Inc.(b)(c)
  31,513   620,491
Owens & Minor, Inc.(b)
  86,960   1,673,110
Phibro Animal Health Corp., Class A(c)
  58,180   842,446
        7,497,341
Industrials-20.15%
ABM Industries, Inc.
  25,691   1,188,979
Allegiant Travel Co.(b)(c)
  10,269   1,270,275
American Woodmark Corp.(b)
  28,814   2,208,305
ArcBest Corp.
  18,032   2,097,482
AZZ, Inc.
  18,342   813,101
CoreCivic, Inc.(b)
  83,601   810,930
Deluxe Corp.
  97,147   1,844,822
DXP Enterprises, Inc.(b)
  69,289   2,631,596
Enviri Corp.(b)
  274,137   2,585,112
GEO Group, Inc. (The)(b)(c)
  120,328   898,850
GMS, Inc.(b)
  23,649   1,742,695
Granite Construction, Inc.(c)
  18,804   769,648
Greenbrier Cos., Inc. (The)(c)
  52,693   2,433,890
Hawaiian Holdings, Inc.(b)(c)
  51,427   596,039
Heidrick & Struggles International, Inc.(c)
  39,096   1,066,148
HNI Corp.(c)
  26,403   768,063
Interface, Inc.
  81,409   795,366
Kaman Corp.
  65,334   1,495,495
Kelly Services, Inc., Class A
  208,344   3,816,862
MillerKnoll, Inc.
  80,388   1,573,193
OPENLANE, Inc.(b)(c)
  68,191   1,070,599
Pitney Bowes, Inc.(c)
  224,506   884,554
Powell Industries, Inc.(c)
  29,505   1,793,314
Proto Labs, Inc.(b)(c)
  36,019   1,194,030
Resideo Technologies, Inc.(b)(c)
  140,828   2,636,300
RXO, Inc.(b)(c)
  81,645   1,800,272
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600® Pure Value ETF (RZV)—(continued)
July 31, 2023
(Unaudited)
  Shares   Value
Industrials-(continued)
SkyWest, Inc.(b)(c)
  189,285   $8,326,647
TrueBlue, Inc.(b)
  98,556   1,473,412
Veritiv Corp.(c)
  10,869   1,523,073
        52,109,052
Information Technology-6.43%
Benchmark Electronics, Inc.
  74,035   1,962,668
Cerence, Inc.(b)(c)
  42,458   1,180,757
Ebix, Inc.(c)
  88,800   2,749,248
Ichor Holdings Ltd.(b)(c)
  25,289   979,190
Insight Enterprises, Inc.(b)
  14,259   2,091,653
NETGEAR, Inc.(b)(c)
  53,864   734,705
PC Connection, Inc.
  18,668   903,718
ScanSource, Inc.(b)
  85,025   2,558,402
SMART Global Holdings, Inc.(b)(c)
  50,992   1,356,387
TTM Technologies, Inc.(b)(c)
  71,417   1,025,548
Viasat, Inc.(b)(c)
  35,371   1,094,379
        16,636,655
Materials-8.02%
AdvanSix, Inc.
  23,017   923,212
Arconic Corp.(b)
  88,011   2,630,649
Century Aluminum Co.(b)(c)
  244,245   2,271,478
Clearwater Paper Corp.(b)
  56,702   1,827,505
Koppers Holdings, Inc.
  60,259   2,305,509
Mativ Holdings, Inc., Class A(c)
  106,306   1,673,256
Minerals Technologies, Inc.
  9,985   612,580
Olympic Steel, Inc.(c)
  90,864   5,069,303
SunCoke Energy, Inc.
  229,620   2,039,026
Trinseo PLC(c)
  79,032   1,392,544
        20,745,062
Real Estate-5.62%
Anywhere Real Estate, Inc.(b)(c)
  476,112   3,989,818
Brandywine Realty Trust
  153,759   776,483
  Shares   Value
Real Estate-(continued)
Cushman & Wakefield PLC(b)(c)
  160,288   $1,575,631
Hudson Pacific Properties, Inc.
  123,880   727,176
JBG SMITH Properties, (Acquired 03/17/2023 - 07/19/2023; Cost $830,747)(c)(d)
  57,885   968,416
Office Properties Income Trust
  98,027   754,808
Orion Office REIT, Inc.
  64,333   418,164
Pebblebrook Hotel Trust(c)
  104,357   1,612,316
RE/MAX Holdings, Inc., Class A
  64,556   1,272,399
Service Properties Trust(c)
  95,694   812,442
SL Green Realty Corp.
  42,698   1,610,142
        14,517,795
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.01%

(Cost $241,022,752)
  258,636,607
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-26.05%
Invesco Private Government Fund, 5.24%(e)(f)(g)
  18,860,439   18,860,439
Invesco Private Prime Fund, 5.38%(e)(f)(g)
  48,498,272   48,498,272
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $67,355,981)
  67,358,711
TOTAL INVESTMENTS IN SECURITIES-126.06%

(Cost $308,378,733)
  325,995,318
OTHER ASSETS LESS LIABILITIES-(26.06)%
  (67,399,592)
NET ASSETS-100.00%
  $258,595,726
 
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) Restricted security. 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
(Loss) 		  Value
July 31, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $10,655   $920,352   $(931,007)   $-   $-   $-   $465
See accompanying notes which are an integral part of this schedule.
Invesco S&P SmallCap 600® Pure Value ETF (RZV)—(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 $19,104,887   $32,089,481   $(32,333,929)   $-   $-   $18,860,439   $211,769*
Invesco Private Prime Fund 49,126,853   58,404,844   (59,034,149)   8,735   (8,011)   48,498,272   560,216*
Total $68,242,395   $91,414,677   $(92,299,085)   $8,735   $(8,011)   $67,358,711   $772,450
    
* 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.
    
(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.
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 S&P 500® Pure Growth ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,917,347,264   $-   $-   $1,917,347,264
Money Market Funds 151,820   51,632,173   -   51,783,993
Total Investments $1,917,499,084   $51,632,173   $-   $1,969,131,257
Invesco S&P 500® Pure Value ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $2,105,837,656   $-   $-   $2,105,837,656
Money Market Funds 359,096   198,815,218   -   199,174,314
Total Investments $2,106,196,752   $198,815,218   $-   $2,305,011,970
Invesco S&P 500® Top 50 ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $2,479,016,398   $-   $-   $2,479,016,398
Money Market Funds 370,075   44,217,185   -   44,587,260
Total Investments $2,479,386,473   $44,217,185   $-   $2,523,603,658
Invesco S&P MidCap 400® Pure Growth ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $262,880,924   $-   $-   $262,880,924
Money Market Funds 152,244   52,855,342   -   53,007,586
Total Investments $263,033,168   $52,855,342   $-   $315,888,510
Invesco S&P MidCap 400® Pure Value ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $268,131,067   $-   $-   $268,131,067
Money Market Funds 325,322   44,322,198   -   44,647,520
Total Investments $268,456,389   $44,322,198   $-   $312,778,587
  Level 1   Level 2   Level 3   Total
Invesco S&P SmallCap 600® Pure Growth ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $99,419,113   $-   $0   $99,419,113
Money Market Funds 93,924   23,081,850   -   23,175,774
Total Investments $99,513,037   $23,081,850   $0   $122,594,887
Invesco S&P SmallCap 600® Pure Value ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $258,636,607   $-   $-   $258,636,607
Money Market Funds -   67,358,711   -   67,358,711
Total Investments $258,636,607   $67,358,711   $-   $325,995,318