NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco KBW Bank ETF (KBWB)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.79%
Asset Management & Custody Banks-11.77%
Bank of New York Mellon Corp. (The)
  1,172,075   $56,634,664
Northern Trust Corp.
  623,141   49,383,924
State Street Corp.
  765,164   55,719,243
        161,737,831
Consumer Finance-4.17%
Capital One Financial Corp.
  513,536   57,341,430
Diversified Banks-45.09%
Bank of America Corp.
  3,668,957   111,866,499
Citigroup, Inc.
  1,273,647   58,715,127
Comerica, Inc.
  396,604   17,934,433
Fifth Third Bancorp
  1,980,653   57,339,904
JPMorgan Chase & Co.
  718,830   112,194,986
KeyCorp
  2,817,156   34,904,563
PNC Financial Services Group, Inc. (The)
  435,659   58,360,880
U.S. Bancorp
  1,439,544   54,875,417
Wells Fargo & Co.
  2,547,565   113,595,923
        619,787,732
Investment Banking & Brokerage-15.10%
Goldman Sachs Group, Inc. (The)
  320,944   109,615,214
Morgan Stanley
  1,235,258   98,005,370
        207,620,584
Regional Banks-23.66%
Citizens Financial Group, Inc.
  1,421,651   38,768,423
East West Bancorp, Inc.
  425,987   26,803,102
First Horizon Corp.
  1,681,480   21,506,129
  Shares   Value
Regional Banks-(continued)
Huntington Bancshares, Inc.
  4,358,598   $49,077,813
M&T Bank Corp.
  420,601   53,908,430
Regions Financial Corp.
  2,824,990   47,120,833
Truist Financial Corp.
  1,721,477   55,328,271
Western Alliance Bancorporation
  329,657   16,885,032
Zions Bancorporation N.A.(b)
  445,973   15,890,018
        325,288,051
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $1,726,384,241)
  1,371,775,628
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.20%
Invesco Private Government Fund, 5.32%(c)(d)(e)
  768,511   768,511
Invesco Private Prime Fund, 5.55%(c)(d)(e)
  1,975,071   1,975,861
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,744,347)
  2,744,372
TOTAL INVESTMENTS IN SECURITIES-99.99%

(Cost $1,729,128,588)
  1,374,520,000
OTHER ASSETS LESS LIABILITIES-0.01%
  119,072
NET ASSETS-100.00%
  $1,374,639,072
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 November 30, 2023.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $16,488,962   $(16,488,962)   $-   $-   $-   $7,173
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 9,165,896   22,784,131   (31,181,516)   -   -   768,511   55,166*
Invesco Private Prime Fund 23,569,447   49,624,500   (71,220,731)   166   2,479   1,975,861   150,654*
Total $32,735,343   $88,897,593   $(118,891,209)   $166   $2,479   $2,744,372   $212,993
    
* 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.
    
(d) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(e) 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 KBW High Dividend Yield Financial ETF (KBWD)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-67.75%
Asset Management & Custody Banks-6.64%
Artisan Partners Asset Management, Inc., Class A(b)
  156,784   $5,902,918
GCM Grosvenor, Inc., Class A(b)
  714,976   5,769,856
Janus Henderson Group PLC
  196,078   5,135,283
Patria Investments Ltd., Class A (Cayman Islands)(b)
  457,962   6,484,742
        23,292,799
Consumer Finance-3.89%
Ally Financial, Inc.(b)
  148,443   4,337,504
OneMain Holdings, Inc.
  220,179   9,313,572
        13,651,076
Diversified Banks-1.56%
Bank of NT Butterfield & Son Ltd. (The) (Bermuda)
  196,859   5,458,900
Diversified Financial Services-3.09%
Jackson Financial, Inc., Class A
  166,378   7,941,222
NewtekOne, Inc.(b)
  212,894   2,880,456
        10,821,678
Investment Banking & Brokerage-3.47%
B. Riley Financial, Inc.(b)
  144,696   2,662,406
Lazard Ltd., Class A
  157,180   4,712,256
Moelis & Co., Class A(b)
  101,273   4,805,404
        12,180,066
Life & Health Insurance-1.76%
Lincoln National Corp.
  259,287   6,165,845
Mortgage REITs-40.54%
AGNC Investment Corp.
  1,390,717   12,266,124
Annaly Capital Management, Inc.(b)
  600,188   10,845,397
ARMOUR Residential REIT, Inc.(b)
  1,242,543   21,868,757
Chimera Investment Corp.(b)
  1,865,708   9,720,339
Dynex Capital, Inc.(b)
  880,919   10,077,713
Ellington Financial, Inc.(b)
  955,066   12,415,858
MFA Financial, Inc.(b)
  1,105,424   11,938,579
Orchid Island Capital, Inc.(b)
  1,980,104   14,593,366
PennyMac Mortgage Investment Trust(b)
  843,889   11,848,202
Ready Capital Corp.(b)
  445,415   4,552,141
TPG RE Finance Trust, Inc.(b)
  1,610,126   9,515,845
Two Harbors Investment Corp.(b)
  900,384   12,479,322
        142,121,643
Regional Banks-4.86%
Central Pacific Financial Corp.
  342,527   6,018,199
  Shares   Value
Regional Banks-(continued)
New York Community Bancorp, Inc.(b)
  427,699   $4,024,648
Northwest Bancshares, Inc.(b)
  627,084   6,985,716
        17,028,563
Transaction & Payment Processing Services-1.94%
Western Union Co. (The)
  584,541   6,798,212
Total Common Stocks & Other Equity Interests

(Cost $276,737,752)
  237,518,782
Closed-End Funds-31.90%
Bain Capital Specialty Finance, Inc., BDC
  642,351   9,725,194
Capital Southwest Corp., BDC
  436,575   9,831,669
CION Investment Corp., BDC
  1,122,466   11,875,690
FS KKR Capital Corp., BDC
  634,408   12,535,902
Goldman Sachs BDC, Inc., BDC(b)
  821,044   12,093,978
MidCap Financial Investment Corp., BDC(b)
  785,213   10,576,819
PennantPark Investment Corp., BDC(b)
  1,823,965   11,782,814
SLR Investment Corp., BDC(b)
  672,371   10,179,697
Trinity Capital, Inc., BDC(b)
  848,494   12,523,772
TriplePoint Venture Growth BDC Corp., BDC(b)
  1,010,404   10,700,178
        111,825,713
Total Closed-End Funds

(Cost $103,744,920)
  111,825,713
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.65%

(Cost $380,482,672)
  349,344,495
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-22.44%
Invesco Private Government Fund, 5.32%(c)(d)(e)
  21,959,670   21,959,670
Invesco Private Prime Fund, 5.55%(c)(d)(e)
  56,698,022   56,720,701
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $78,669,328)
  78,680,371
TOTAL INVESTMENTS IN SECURITIES-122.09%

(Cost $459,152,000)
  428,024,866
OTHER ASSETS LESS LIABILITIES-(22.09)%
  (77,433,474)
NET ASSETS-100.00%
  $350,591,392
See accompanying notes which are an integral part of this schedule.
Invesco KBW High Dividend Yield Financial ETF (KBWD)—(continued)
November 30, 2023
(Unaudited)
Investment Abbreviations:
BDC -Business Development Company
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 November 30, 2023.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $3,769,871   $(3,769,871)   $-   $-   $-   $3,565
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 28,150,755   49,834,448   (56,025,533)   -   -   21,959,670   330,701*
Invesco Private Prime Fund 72,387,657   120,489,800   (136,184,495)   11,652   16,087   56,720,701   889,964*
Total $100,538,412   $174,094,119   $(195,979,899)   $11,652   $16,087   $78,680,371   $1,224,230
    
* 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.
    
(d) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(e) 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 KBW Premium Yield Equity REIT ETF (KBWY)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.72%
Diversified REITs-15.83%
Armada Hoffler Properties, Inc.(b)
  602,263   $6,612,848
Broadstone Net Lease, Inc.(b)
  429,174   6,866,784
Gladstone Commercial Corp.(b)
  687,856   8,598,200
Global Net Lease, Inc.(b)
  1,227,488   10,777,345
        32,855,177
Health Care REITs-19.75%
Global Medical REIT, Inc.(b)
  897,913   9,006,067
Medical Properties Trust, Inc.(b)
  1,153,347   5,593,733
National Health Investors, Inc.(b)
  137,950   7,485,167
Omega Healthcare Investors, Inc.(b)
  265,107   8,417,147
Sabra Health Care REIT, Inc.(b)
  717,989   10,482,640
        40,984,754
Hotel & Resort REITs-7.20%
Apple Hospitality REIT, Inc.
  426,236   7,105,354
Service Properties Trust
  1,095,054   7,829,636
        14,934,990
Industrial REITs-7.83%
Innovative Industrial Properties, Inc.(b)
  94,678   7,731,405
LXP Industrial Trust
  519,733   4,563,256
STAG Industrial, Inc.
  110,427   3,958,808
        16,253,469
Multi-Family Residential REITs-2.33%
Apartment Income REIT Corp.(b)
  155,557   4,840,934
Office REITs-15.03%
Brandywine Realty Trust(b)
  3,004,120   13,398,375
Office Properties Income Trust(b)
  1,805,359   10,073,903
SL Green Realty Corp.
  211,182   7,722,926
        31,195,204
Other Specialized REITs-19.77%
EPR Properties
  164,846   7,355,428
Four Corners Property Trust, Inc.(b)
  215,280   4,949,287
Gaming and Leisure Properties, Inc.
  130,220   6,085,181
Outfront Media, Inc.
  920,686   11,259,990
Uniti Group, Inc.(b)
  2,056,389   11,371,831
        41,021,717
  Shares   Value
Retail REITs-6.30%
Getty Realty Corp.(b)
  191,266   $5,628,958
Spirit Realty Capital, Inc.
  179,985   7,433,381
        13,062,339
Self-Storage REITs-3.18%
National Storage Affiliates Trust
  198,768   6,597,110
Single-Family Residential REITs-2.50%
UMH Properties, Inc.(b)
  367,686   5,191,726
Total Common Stocks & Other Equity Interests

(Cost $235,797,841)
  206,937,420
Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 5.28%(c)(d)

(Cost $134,086)
  134,086   134,086
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.78%

(Cost $235,931,927)
  207,071,506
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-20.67%
Invesco Private Government Fund, 5.32%(c)(d)(e)
  11,942,498   11,942,498
Invesco Private Prime Fund, 5.55%(c)(d)(e)
  30,945,115   30,957,493
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $42,895,237)
  42,899,991
TOTAL INVESTMENTS IN SECURITIES-120.45%

(Cost $278,827,164)
  249,971,497
OTHER ASSETS LESS LIABILITIES-(20.45)%
  (42,445,956)
NET ASSETS-100.00%
  $207,525,541
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 November 30, 2023.
(c) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $180,342   $3,162,402   $(3,208,658)   $-   $-   $134,086   $2,719
See accompanying notes which are an integral part of this schedule.
Invesco KBW Premium Yield Equity REIT ETF (KBWY)—(continued)
November 30, 2023
(Unaudited)
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $19,180,714   $41,759,038   $(48,997,254)   $-   $-   $11,942,498   $199,965*
Invesco Private Prime Fund 49,321,834   91,860,486   (110,241,323)   4,009   12,487   30,957,493   532,780*
Total $68,682,890   $136,781,926   $(162,447,235)   $4,009   $12,487   $43,034,077   $735,464
    
* 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.
    
(d) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(e) 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 KBW Property & Casualty Insurance ETF (KBWP)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.84%
Multi-line Insurance-14.04%
American International Group, Inc.
  233,937   $15,395,394
Assurant, Inc.
  49,128   8,254,487
Horace Mann Educators Corp.
  88,922   2,975,330
        26,625,211
Property & Casualty Insurance-75.56%
Allstate Corp. (The)
  63,491   8,753,504
American Financial Group, Inc.
  59,049   6,754,615
Arch Capital Group Ltd.(b)
  178,116   14,906,528
AXIS Capital Holdings Ltd.
  124,772   7,029,655
Chubb Ltd.
  68,154   15,636,572
Cincinnati Financial Corp.
  64,704   6,650,924
Hanover Insurance Group, Inc. (The)
  64,140   7,972,602
Hartford Financial Services Group, Inc. (The)
  95,307   7,449,195
James River Group Holdings Ltd.
  81,835   734,878
Kemper Corp.(c)
  139,462   6,168,404
Mercury General Corp.
  120,554   4,490,637
ProAssurance Corp.(c)
  113,355   1,402,201
Progressive Corp. (The)
  102,570   16,824,557
RLI Corp.
  52,045   7,057,302
Selective Insurance Group, Inc.(c)
  68,995   7,016,102
Travelers Cos., Inc. (The)
  84,910   15,336,444
Universal Insurance Holdings, Inc.
  65,490   1,110,711
W.R. Berkley Corp.(c)
  110,653   8,027,875
        143,322,706
Reinsurance-10.24%
Everest Group Ltd.
  18,976   7,790,597
RenaissanceRe Holdings Ltd. (Bermuda)
  36,431   7,809,349
SiriusPoint Ltd. (Bermuda)(b)(c)
  358,149   3,825,031
        19,424,977
Total Common Stocks & Other Equity Interests

(Cost $186,173,863)
  189,372,894
  Shares   Value
Money Market Funds-0.02%
Invesco Government & Agency Portfolio, Institutional Class, 5.28%(d)(e)

(Cost $47,189)
  47,189   $47,189
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.86%

(Cost $186,221,052)
  189,420,083
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-1.68%
Invesco Private Government Fund, 5.32%(d)(e)(f)
  917,202   917,202
Invesco Private Prime Fund, 5.55%(d)(e)(f)
  2,265,858   2,266,764
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $3,183,719)
  3,183,966
TOTAL INVESTMENTS IN SECURITIES-101.54%

(Cost $189,404,771)
  192,604,049
OTHER ASSETS LESS LIABILITIES-(1.54)%
  (2,923,212)
NET ASSETS-100.00%
  $189,680,837
Notes to Schedule of Investments:
(a) Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at November 30, 2023.
(d) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $66,778   $274,580   $(294,169)   $-   $-   $47,189   $572
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 1,817,266   3,068,552   (3,968,616)   -   -   917,202   11,228*
Invesco Private Prime Fund 4,672,971   7,125,299   (9,532,757)   247   1,004   2,266,764   29,818*
Total $6,557,015   $10,468,431   $(13,795,542)   $247   $1,004   $3,231,155   $41,618
    
* 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.
    
See accompanying notes which are an integral part of this schedule.
Invesco KBW Property & Casualty Insurance ETF (KBWP)—(continued)
November 30, 2023
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Schedule of Investments(a)
Invesco KBW Regional Banking ETF (KBWR)
November 30, 2023
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Regional Banks-99.92%
Ameris Bancorp(b)
  27,559   $1,173,462
Associated Banc-Corp
  64,815   1,149,818
Atlantic Union Bankshares Corp.(b)
  34,813   1,064,233
Banc of California, Inc.
  36,160   418,010
Bank of Hawaii Corp.
  18,443   1,070,985
Bank OZK(b)
  27,959   1,170,364
BankUnited, Inc.
  34,545   953,096
BOK Financial Corp.
  22,216   1,594,442
Brookline Bancorp, Inc.
  41,135   392,017
Cadence Bank(b)
  49,088   1,229,654
Cathay General Bancorp
  31,518   1,156,080
Columbia Banking System, Inc.
  54,832   1,229,882
Commerce Bancshares, Inc.
  41,778   2,112,713
Community Bank System, Inc.
  23,621   1,047,828
Cullen/Frost Bankers, Inc.
  21,464   2,109,697
CVB Financial Corp.(b)
  64,338   1,150,363
Eastern Bankshares, Inc.
  81,879   979,273
F.N.B. Corp.
  96,562   1,157,778
First Bancorp
  81,034   1,215,510
First Commonwealth Financial Corp.(b)
  47,529   635,463
First Financial Bancorp
  44,144   892,150
First Financial Bankshares, Inc.(b)
  39,102   1,026,427
First Hawaiian, Inc.
  59,241   1,164,086
First Interstate BancSystem, Inc., Class A(b)
  43,338   1,122,021
Fulton Financial Corp.(b)
  76,138   1,083,444
Glacier Bancorp, Inc.
  37,177   1,250,262
Hancock Whitney Corp.
  27,230   1,123,237
Home BancShares, Inc.(b)
  50,643   1,123,262
Hope Bancorp, Inc.
  55,721   546,066
Independent Bank Corp.(b)
  20,484   1,167,998
New York Community Bancorp, Inc.(b)
  182,904   1,721,127
Old National Bancorp
  73,600   1,095,904
Pacific Premier Bancorp, Inc.(b)
  44,514   1,002,455
Pinnacle Financial Partners, Inc.(b)
  16,874   1,224,546
Popular, Inc.
  16,449   1,213,772
Prosperity Bancshares, Inc.(b)
  19,769   1,192,268
  Shares   Value
Regional Banks-(continued)
Provident Financial Services, Inc.
  35,096   $534,161
Simmons First National Corp., Class A
  58,611   937,190
South State Corp.(b)
  15,536   1,150,441
Synovus Financial Corp.(b)
  36,277   1,116,969
Texas Capital Bancshares, Inc.(c)
  17,988   987,181
Trustmark Corp.
  28,348   649,453
UMB Financial Corp.
  17,767   1,273,183
United Bankshares, Inc.
  37,334   1,236,129
United Community Banks, Inc.(b)
  41,590   1,025,193
Valley National Bancorp(b)
  122,346   1,113,349
WaFd, Inc.(b)
  30,046   803,130
Webster Financial Corp.(b)
  52,962   2,375,346
Wintrust Financial Corp.
  14,469   1,239,559
WSFS Financial Corp.(b)
  28,338   1,092,997
        56,493,974
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $71,366,886)
  56,493,974
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-26.59%
Invesco Private Government Fund, 5.32%(d)(e)(f)
  4,230,898   4,230,898
Invesco Private Prime Fund, 5.55%(d)(e)(f)
  10,800,197   10,804,517
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $15,034,305)
  15,035,415
TOTAL INVESTMENTS IN SECURITIES-126.51%

(Cost $86,401,191)
  71,529,389
OTHER ASSETS LESS LIABILITIES-(26.51)%
  (14,988,460)
NET ASSETS-100.00%
  $56,540,929
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 November 30, 2023.
(c) Non-income producing security.
(d) Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended November 30, 2023.
    
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $500,232   $(500,232)   $-   $-   $-   $363
See accompanying notes which are an integral part of this schedule.
Invesco KBW Regional Banking ETF (KBWR)—(continued)
November 30, 2023
(Unaudited)
  Value
August 31, 2023 		  Purchases
at Cost 		  Proceeds
from Sales 		  Change in
Unrealized
Appreciation 		  Realized
Gain 		  Value
November 30, 2023 		  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $4,669,170   $12,417,915   $(12,856,187)   $-   $-   $4,230,898   $53,037*
Invesco Private Prime Fund 12,006,441   31,606,810   (32,812,661)   971   2,956   10,804,517   140,836*
Total $16,675,611   $44,524,957   $(46,169,080)   $971   $2,956   $15,035,415   $194,236
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
    
(e) The rate shown is the 7-day SEC standardized yield as of November 30, 2023.
(f) The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.
Notes to Quarterly Schedules of Portfolio Holdings
November 30, 2023
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of November 30, 2023. 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 KBW Bank ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $1,371,775,628   $-   $-   $1,371,775,628
Money Market Funds -   2,744,372   -   2,744,372
Total Investments $1,371,775,628   $2,744,372   $-   $1,374,520,000
Invesco KBW High Dividend Yield Financial ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $237,518,782   $-   $-   $237,518,782
Closed-End Funds 111,825,713   -   -   111,825,713
Money Market Funds -   78,680,371   -   78,680,371
Total Investments $349,344,495   $78,680,371   $-   $428,024,866
Invesco KBW Premium Yield Equity REIT ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $206,937,420   $-   $-   $206,937,420
Money Market Funds 134,086   42,899,991   -   43,034,077
Total Investments $207,071,506   $42,899,991   $-   $249,971,497
Invesco KBW Property & Casualty Insurance ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $189,372,894   $-   $-   $189,372,894
Money Market Funds 47,189   3,183,966   -   3,231,155
Total Investments $189,420,083   $3,183,966   $-   $192,604,049
Invesco KBW Regional Banking ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $56,493,974   $-   $-   $56,493,974
Money Market Funds -   15,035,415   -   15,035,415
Total Investments $56,493,974   $15,035,415   $-   $71,529,389