0001752724-21-214335.txt : 20210929 0001752724-21-214335.hdr.sgml : 20210929 20210929154237 ACCESSION NUMBER: 0001752724-21-214335 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210731 FILED AS OF DATE: 20210929 PERIOD START: 20211031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INVESCO ACTIVELY MANAGED EXCHANGE-TRADED FUND TRUST CENTRAL INDEX KEY: 0001418144 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-22148 FILM NUMBER: 211291464 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 Actively Managed Exchange-Traded Fund Trust DATE OF NAME CHANGE: 20071109 0001418144 S000060783 Invesco Ultra Short Duration ETF C000197599 Invesco Ultra Short Duration ETF GSY NPORT-P 1 primary_doc.xml NPORT-P false 0001418144 XXXXXXXX S000060783 C000197599 Invesco Actively Managed Exchange-Traded Fund Trust 811-22148 0001418144 549300S7YWBLZ3UGI217 3500 Lacey Road Suite 700 Downers Grove 60515 800-983-0903 Invesco Ultra Short Duration ETF S000060783 549300XCPLYCS9LWYT95 2021-10-31 2021-07-31 N 2999187675.71 20221422.23 2978966253.48 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 8055532.80000000 0.00000000 0.00000000 5469430.82000000 USD N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 General Motors Financial Co., Inc. 37045XCZ7 20000000.00000000 PA USD 20414600.60000000 0.685291435448 Long DBT CORP US N 2 2023-08-18 Fixed 1.70000000 N N N N N GS Mortgage-Backed Securities Trust N/A GS Mortgage-Backed Securities Trust, Series 2020-NQM1, Class A1 36259WAA9 4665483.56000000 PA USD 4692453.79000000 0.157519534990 Long ABS-MBS CORP US N 2 2060-09-27 Variable 1.38200000 N N N N N N Williams Partners LP D71FAKCBLFS2O0RBPG08 Williams Partners LP 96950FAH7 8000000.00000000 PA USD 8009765.04000000 0.268877333895 Long DBT CORP US N 2 2021-11-15 Fixed 4.00000000 N N N N N N Canadian Imperial Bank of Commerce 2IGI19DL77OX0HC3ZE78 Canadian Imperial Bank of Commerce 13607HVC3 15000000.00000000 PA USD 15014423.25000000 0.504014546403 Long DBT CORP CA N 2 2023-06-22 Fixed 0.45000000 N N N N N N Harley-Davidson Financial Services, Inc. RLUFFFFW4GRYU77BTS24 Harley-Davidson Financial Services, Inc. 41282JW98 5000000.00000000 PA USD 4998194.85000000 0.167782862399 Long DBT CORP US N 2 2021-09-09 Fixed 0.00000000 N N N N N N Athene Global Funding 549300LM1QSI4MSIL320 Athene Global Funding 04685A2Q3 14974000.00000000 PA USD 15172298.59000000 0.509314215032 Long DBT CORP US N 2 2023-10-13 Fixed 1.20000000 N N N N N N Nordea Bank Abp 529900ODI3047E2LIV03 Nordea Bank Abp 65557CBE2 7407000.00000000 PA USD 7501249.19000000 0.251807122059 Long DBT CORP FI N 2 2023-06-09 Fixed 1.00000000 N N N N N N Daimler Finance North America LLC 549300423Z16BB673J12 Daimler Finance North America LLC 233851DR2 22290000.00000000 PA USD 22671695.74000000 0.761059166531 Long DBT CORP US N 2 2022-02-22 Fixed 3.40000000 N N N N N N Realty Income Corp. 549300CUWDAUZSH43859 Realty Income Corp. 75611MVT8 9560000.00000000 PA USD 9558847.45000000 0.320878003865 Long DBT CORP US N 2 2021-08-27 Fixed 0.00000000 N N N N N N Amgen, Inc. 62QBXGPJ34PQ72Z12S66 Amgen, Inc. 031162CP3 9600000.00000000 PA USD 9761179.10000000 0.327670012662 Long DBT CORP US N 2 2022-05-11 Fixed 2.65000000 N N N N N Comcast Corp. 51M0QTTNCGUN7KFCFZ59 Comcast Corp. 20030NCW9 20000000.00000000 PA USD 20015245.20000000 0.671885597113 Long DBT CORP US N 2 2021-10-01 Floating 0.58488000 N N N N N N GCAT Trust N/A GCAT Trust, Series 2019-NQM2, Class A1 36166MAA3 5109011.44000000 PA USD 5142208.26000000 0.172617204172 Long ABS-MBS CORP US N 2 2059-09-25 Variable 2.85500000 N N N N N N Jabil, Inc. 5493000CGCQY2OQU7669 Jabil, Inc. 46652LV95 46000000.00000000 PA USD 45993866.82000000 1.543953939265 Long DBT CORP US N 2 2021-08-09 Fixed 0.00000000 N N N N N N Fly Funding II S.a.r.l. 54930033GL3A930IIN33 Fly Funding II S.a.r.l., Term Loan L3953TAD6 1791141.42000000 PA USD 1762599.58000000 0.059168162040 Long LON CORP LU N 2 2025-08-09 Floating 1.92000000 N N N N N N Caterpillar Financial Services Corp. EDBQKYOPJUCJKLOJDE72 Caterpillar Financial Services Corp. 14913R2E6 4938000.00000000 PA USD 4942736.97000000 0.165921213918 Long DBT CORP US N 2 2022-01-06 Floating 0.35788000 N N N N N N Mitsubishi UFJ Financial Group, Inc. 353800V2V8PUY9TK3E06 Mitsubishi UFJ Financial Group, Inc. 606822AF1 5000000.00000000 PA USD 5006016.45000000 0.168045423279 Long DBT CORP JP N 2 2021-09-13 Floating 1.17900000 N N N N N COLT Funding LLC N/A COLT Funding LLC, Series 2020-1R, Class A1 12597VAA3 5944186.73000000 PA USD 5968683.91000000 0.200360910534 Long ABS-MBS CORP US N 2 2065-09-25 Variable 1.25500000 N N N N N N Nationwide Building Society 549300XFX12G42QIKN82 Nationwide Building Society 63859UBG7 12195000.00000000 PA USD 12184688.64000000 0.409024057448 Long DBT CORP GB N 2 2024-01-22 Fixed 0.55000000 N N N N N N HSI Asset Securitization Corp. Trust N/A HSI Asset Securitization Corp. Trust, Series 2006-OPT2, Class M2 40430HEB0 1885113.40000000 PA USD 1888962.42000000 0.063409997269 Long ABS-MBS CORP US N 2 2036-01-25 Floating 0.47925000 N N N N N N Athene Global Funding 549300LM1QSI4MSIL320 Athene Global Funding 04685A2M2 17500000.00000000 PA USD 18233813.15000000 0.612085253691 Long DBT CORP US N 2 2023-05-26 Fixed 2.80000000 N N N N N BPCE S.A. 9695005MSX1OYEMGDF46 BPCE S.A. 05578QAB9 5040000.00000000 PA USD 5607588.37000000 0.188239405647 Long DBT CORP FR N 2 2024-07-21 Fixed 5.15000000 N N N N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250NAF2 15000000.00000000 PA USD 16015282.80000000 0.537612092157 Long DBT CORP CA N 2 2023-10-01 Fixed 4.00000000 N N N N N N White Plains Capital Company LLC N/A White Plains Capital Company LLC 96437TXD4 15000000.00000000 PA USD 14987812.50000000 0.503121258338 Long ABS-APCP CORP US N 2 2021-10-13 Fixed 0.00000000 N N N N N N Ellington Financial Mortgage Trust N/A Ellington Financial Mortgage Trust, Series 2019-2, Class A1 31573TAA6 4056882.99000000 PA USD 4136848.22000000 0.138868582857 Long ABS-MBS CORP US N 2 2059-11-25 Variable 2.73900000 N N N N N N Verizon Communications, Inc. 2S72QS2UO2OESLG6Y829 Verizon Communications, Inc. 92343VGD0 10417000.00000000 PA USD 10490535.89000000 0.352153565947 Long DBT CORP US N 2 2024-03-22 Floating 0.55000300 N N N N N N Ellington Financial Mortgage Trust N/A Ellington Financial Mortgage Trust, Series 2020-2, Class A1 31573WAA9 947506.38000000 PA USD 949836.30000000 0.031884762000 Long ABS-MBS CORP US N 2 2065-10-25 Variable 1.17800000 N N N N N N National Australia Bank Ltd. F8SB4JFBSYQFRQEH3Z21 National Australia Bank Ltd. 6325C0DW8 12000000.00000000 PA USD 12021584.64000000 0.403548869543 Long DBT CORP AU N 2 2021-11-04 Floating 0.88563000 N N N N N N Pioneer Natural Resources Co. FY8JBF7CCL2VE4F1B628 Pioneer Natural Resources Co. 723787AS6 3297000.00000000 PA USD 3298186.46000000 0.110715804724 Long DBT CORP US N 2 2024-01-15 Fixed 0.75000000 N N N N N N Consolidated Edison, Inc. 54930033SBW53OO8T749 Consolidated Edison, Inc., Series A 209115AE4 12195000.00000000 PA USD 12203949.06000000 0.409670604550 Long DBT CORP US N 2 2023-12-01 Fixed 0.65000000 N N N N N N Cabot Corp. K05C0SER542GQ6VLRO68 Cabot Corp. 12705WV90 9300000.00000000 PA USD 9299666.78000000 0.312177647837 Long DBT CORP US N 2 2021-08-09 Fixed 0.00000000 N N N N N N Metropolitan Life Global Funding I 635400MMSOCXNNNZDZ82 Metropolitan Life Global Funding I 59217GEH8 9524000.00000000 PA USD 9633679.43000000 0.323390015537 Long DBT CORP US N 2 2023-06-08 Fixed 0.90000000 N N N N N N Banque Federative du Credit Mutuel S.A. VBHFXSYT7OG62HNT8T76 Banque Federative du Credit Mutuel S.A. 06675FAV9 7955000.00000000 PA USD 7961237.99000000 0.267248344310 Long DBT CORP FR N 2 2024-02-27 Fixed 0.65000000 N N N N N N Bristol-Myers Squibb Co. HLYYNH7UQUORYSJQCN42 Bristol-Myers Squibb Co. 110122DT2 12500000.00000000 PA USD 12513315.25000000 0.420055622831 Long DBT CORP US N 2 2023-11-13 Fixed 0.53700000 N N N N N N Florida Power & Light Co. A89MY1K3YLIGJMYWVX50 Florida Power & Light Co. 341081GD3 13043000.00000000 PA USD 13046120.67000000 0.437941203756 Long DBT CORP US N 2 2023-05-10 Floating 0.28174000 N N N N N NextGear Floorplan Master Owner Trust N/A NextGear Floorplan Master Owner Trust, Series 2019-2A, Class A1 65341KBJ4 10000000.00000000 PA USD 10071602.00000000 0.338090503315 Long ABS-O CORP US N 2 2024-10-15 Floating 0.79313000 N N N N N N Sumitomo Mitsui Trust Bank Ltd. 5493006GGLR4BTEL8O61 Sumitomo Mitsui Trust Bank Ltd. 86563VAQ2 11102000.00000000 PA USD 11191336.46000000 0.375678524284 Long DBT CORP JP N 2 2023-09-12 Fixed 0.80000000 N N N N N N Suncor Energy, Inc. 549300W70ZOQDVLCHY06 Suncor Energy, Inc. 86723AX49 9300000.00000000 PA USD 9296948.02000000 0.312086382621 Long DBT CORP CA N 2 2021-10-04 Fixed 0.00000000 N N N N N N Avery Point CLO Ltd. N/A Avery Point CLO Ltd., Series 2015-6A, Class AR2 05363LBC6 7857665.04000000 PA USD 7852626.47000000 0.263602397671 Long ABS-CBDO CORP KY N 2 2027-08-05 Floating 1.07638000 N N N N N N Countrywide Asset-Backed Ctfs. N/A Countrywide Asset-Backed Ctfs., Series 2006-6, Class 1A1 126670ZH4 1345661.13000000 PA USD 1340697.52000000 0.045005461825 Long ABS-MBS CORP US N 2 2036-09-25 Floating 0.42925000 N N N N N N Bank of America Corp. 9DJT3UXIJIZJI4WXO774 Bank of America Corp. 06051GEU9 6000000.00000000 PA USD 6263938.26000000 0.210272212808 Long DBT CORP US N 2 2023-01-11 Fixed 3.30000000 N N N N N N VMware, Inc. 549300BUDHS3LRWBE814 VMware, Inc. 928563AG0 8064000.00000000 PA USD 8078821.79000000 0.271195478651 Long DBT CORP US N 2 2023-08-15 Fixed 0.60000000 N N N N N N Oglethorpe Power Corp. 3EERXCUSWMS9GV5D9M98 Oglethorpe Power Corp. 67705AVX9 40000000.00000000 PA USD 39995200.00000000 1.342586541666 Long DBT CORP US N 2 2021-08-31 Fixed 0.00000000 N N N N N N JP Morgan Securities LLC Repurchase Agreement ZBUT11V806EZRVTWT807 JP Morgan Securities LLC Repurchase Agreement N/A 25000000.00000000 PA USD 25000000.00000000 0.839217294616 Long RA CORP US N 2 Repurchase Y 0.45850000 2059-12-01 22230000 USD 27004131.54 USD N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley 6174468T9 6000000.00000000 PA USD 6012087.72000000 0.201817919655 Long DBT CORP US N 2 2023-11-10 Variable 0.56000000 N N N N N N Georgia-Pacific LLC L2EVHWFHVAQK72TMH265 Georgia-Pacific LLC 37331NAM3 15000000.00000000 PA USD 15047427.75000000 0.505122464291 Long DBT CORP US N 2 2024-05-15 Fixed 0.62500000 N N N N N N GS Mortgage Securities Corp. Trust N/A GS Mortgage Securities Corp. Trust, Series 2017-STAY, Class A 36253VAA7 12200000.00000000 PA USD 12228184.44000000 0.410484154552 Long ABS-MBS CORP US N 2 2032-07-15 Floating 1.44313000 N N N N N N Keurig Dr Pepper, Inc. DYTQ8KRTKO7Y2BVU5K74 Keurig Dr Pepper, Inc. 49271KAE4 10200000.00000000 PA USD 10189004.40000000 0.342031548296 Long DBT CORP US N 2 2022-01-14 Fixed 0.00000000 N N N N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 NextEra Energy Capital Holdings, Inc. 65339KBV1 3704000.00000000 PA USD 3722617.93000000 0.124963413924 Long DBT CORP US N 2 2023-03-01 Floating 0.58116000 N N N N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546AY0 6250000.00000000 PA USD 6255963.63000000 0.210004514911 Long DBT CORP US N 2 2024-02-15 Fixed 0.90000000 N N N N N N Societe Generale S.A. N/A Societe Generale S.A. N/A 50000000.00000000 PA USD 50000000.00000000 1.678434589233 Long RA CORP US N 2 Repurchase Y 0.50000000 2022-01-03 9904984 USD 4317716.94 USD ABS 44550249 USD 45016094.43 USD CDS 17199333 USD 5242342.03 USD PLCMO 100 USD 119.12 USD UST N N N Intuit, Inc. VI90HBPH7XSFMB9E4M29 Intuit, Inc. 46124HAA4 5000000.00000000 PA USD 5033321.85000000 0.168962029835 Long DBT CORP US N 2 2023-07-15 Fixed 0.65000000 N N N N N N Exxon Mobil Corp. J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp. 30231GBL5 12409000.00000000 PA USD 12678568.40000000 0.425602954890 Long DBT CORP US N 2 2023-04-15 Fixed 1.57100000 N N N N N N Plains Midstream Canada ULC QALTJIDPUSOINM1SXH72 Plains Midstream Canada ULC 72651VV25 34500000.00000000 PA USD 34499180.63000000 1.158092361392 Long DBT CORP CA N 2 2021-08-02 Fixed 0.00000000 N N N N N N Air Lease Corp. 5493004NW4M4P8TMMK63 Air Lease Corp. 00912XBE3 12260000.00000000 PA USD 12438716.96000000 0.417551455826 Long DBT CORP US N 2 2022-01-15 Fixed 3.50000000 N N N N N N Athene Global Funding 549300LM1QSI4MSIL320 Athene Global Funding 04685A2X8 19000000.00000000 PA USD 19099211.54000000 0.641135545516 Long DBT CORP US N 2 2024-05-24 Floating 0.73909300 N N N N N N Enbridge US, Inc. 5493003FRODSVHJWFS32 Enbridge US, Inc. 29251UYK8 17000000.00000000 PA USD 16989316.52000000 0.570309129892 Long DBT CORP US N 2 2021-11-19 Fixed 0.00000000 N N N N N N Penske Truck Leasing Co. L.P. / PTL Finance Corp. N/A Penske Truck Leasing Co. L.P. / PTL Finance Corp. 709599BB9 12577000.00000000 PA USD 13506882.51000000 0.453408375949 Long DBT CORP US N 2 2024-02-01 Fixed 3.90000000 N N N N N N Energy Transfer L.P. MTLVN9N7JE8MIBIJ1H73 Energy Transfer L.P. 29277EV27 6500000.00000000 PA USD 6499838.02000000 0.218191059143 Long DBT CORP US N 2 2021-08-02 Fixed 0.00000000 N N N N N N Viatris, Inc. 254900ZZTSW7NL773X71 Viatris, Inc. 92557MWF8 17500000.00000000 PA USD 17491272.40000000 0.587159132117 Long DBT CORP US N 2 2021-09-15 Fixed 0.00000000 N N N N N N UBS AG BFM8T61CT2L1QCEMIK50 UBS AG 90276JMT0 16500000.00000000 PA USD 16503193.91000000 0.553990629827 Long DBT CORP US N 2 2022-06-16 Floating 0.20000000 N N N N N N Countrywide Asset-Backed Ctfs. N/A Countrywide Asset-Backed Ctfs., Series 2004-SD2, Class M1 1266716Y7 79767.25000000 PA USD 79576.28000000 0.002671271616 Long ABS-MBS CORP US N 2 2033-06-25 Floating 1.02150000 N N N N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 Dominion Energy, Inc., Series D 25746UDH9 7692000.00000000 PA USD 7700387.74000000 0.258491942666 Long DBT CORP US N 2 2023-09-15 Floating 0.64888000 N N N N N N TICP CLO II-2 Ltd. N/A TICP CLO II-2 Ltd., Series 2018-IIA, Class A1 87249TAC8 7080280.93000000 PA USD 7082314.05000000 0.237744017466 Long ABS-CBDO CORP KY N 2 2028-04-20 Floating 0.97425000 N N N N N N Mizuho Financial Group, Inc. 353800CI5L6DDAN5XZ33 Mizuho Financial Group, Inc. 60687YAF6 6850000.00000000 PA USD 6858650.66000000 0.230235930064 Long DBT CORP JP N 2 2021-09-13 Floating 1.25900000 N N N N N N Citigroup Global Markets, Inc MBNUM2BPBDO7JBLYG310 Citigroup Global Markets, Inc N/A 50000000.00000000 PA USD 50000000.00000000 1.678434589233 Long RA CORP US N 2 Repurchase Y 0.59775000 2059-12-01 49881000 USD 55353344.63 USD CDS N N N Xcel Energy, Inc. LGJNMI9GH8XIDG5RCM61 Xcel Energy, Inc. 98389BAZ3 4372000.00000000 PA USD 4379938.11000000 0.147028792450 Long DBT CORP US N 2 2023-10-15 Fixed 0.50000000 N N N N N N Raytheon Technologies Corp. I07WOS4YJ0N7YRFE7309 Raytheon Technologies Corp. 75513EBW0 15000000.00000000 PA USD 15374319.30000000 0.516095785980 Long DBT CORP US N 2 2022-12-15 Fixed 2.50000000 N N N N N N ABPCI Direct Lending Fund CLO Ltd. N/A ABPCI Direct Lending Fund CLO Ltd., Series 2017-1A, Class A1R 000823AJ3 2000000.00000000 PA USD 2000444.03000000 0.067152289075 Long ABS-CBDO CORP KY N 2 2032-04-20 Floating 1.73425000 N N N N N N Angel Oak Mortgage Trust N/A Angel Oak Mortgage Trust, Series 2021-3, Class A1 03465EAA9 11653884.11000000 PA USD 11683615.50000000 0.392203687650 Long ABS-MBS CORP US N 2 2066-05-25 Variable 1.06800000 N N N N N N White Plains Capital Co. LLC N/A White Plains Capital Co. LLC 96437TYG6 12500000.00000000 PA USD 12484558.38000000 0.419090292325 Long ABS-APCP CORP US N 2 2021-11-16 Fixed 0.00000000 N N N N N N Nutrien Ltd. 5493002QQ7GD21OWF963 Nutrien Ltd. 67077MAV0 5300000.00000000 PA USD 5429812.69000000 0.182271708639 Long DBT CORP CA N 2 2023-05-13 Fixed 1.90000000 N N N N N N Bayer US Finance II LLC 529900XWNEXYNJ3X6T40 Bayer US Finance II LLC 07274NAE3 30000000.00000000 PA USD 32110292.40000000 1.077900508691 Long DBT CORP US N 2 2023-12-15 Fixed 3.87500000 N N N N N N PayPal Holdings, Inc. 5493005X2GO78EFZ3E94 PayPal Holdings, Inc. 70450YAB9 10105000.00000000 PA USD 10337786.06000000 0.347025953983 Long DBT CORP US N 2 2022-09-26 Fixed 2.20000000 N N N N N N Angel Oak Mortgage Trust N/A Angel Oak Mortgage Trust, Series 2020-5, Class A1 03464WAA0 6685017.28000000 PA USD 6717627.46000000 0.225501965728 Long ABS-MBS CORP US N 2 2065-05-25 Variable 1.37300000 N N N N N N Cigna Corp. 549300VIWYMSIGT1U456 Cigna Corp. 12553NVQ5 9000000.00000000 PA USD 8999118.72000000 0.302088642645 Long DBT CORP US N 2 2021-08-24 Fixed 0.00000000 N N N N N N Boeing Co. (The) RVHJWBXLJ1RFUBSY1F30 Boeing Co. (The) 097023DD4 3046000.00000000 PA USD 3056464.14000000 0.102601502666 Long DBT CORP US N 2 2023-02-04 Fixed 1.16700000 N N N N N N BP Capital Markets America, Inc. 5493009NTB34VXE1T760 BP Capital Markets America, Inc. 10373QAW0 7495000.00000000 PA USD 7960019.26000000 0.267207433138 Long DBT CORP US N 2 2023-11-28 Fixed 3.21600000 N N N N N N NextGear Floorplan Master Owner Trust N/A NextGear Floorplan Master Owner Trust, Series 2019-1A, Class A1 65341KBF2 12750000.00000000 PA USD 12789168.00000000 0.429315638774 Long ABS-O CORP US N 2 2024-02-15 Floating 0.74313000 N N N N N N Starwood Mortgage Residential Trust N/A Starwood Mortgage Residential Trust, Series 2020-1, Class A1 85573AAA3 3587515.39000000 PA USD 3634775.88000000 0.122014671222 Long ABS-MBS CORP US N 2 2050-02-25 Variable 2.27500000 N N N N N N MET Tower Global Funding 635400OFJCY9IOGBGY57 MET Tower Global Funding 58989VAA2 10000000.00000000 PA USD 10066178.40000000 0.337908440159 Long DBT CORP US N 2 2023-01-17 Floating 0.60000300 N N N N N N Ally Financial, Inc. 549300JBN1OSM8YNAI90 Ally Financial, Inc. 02005NBL3 5309000.00000000 PA USD 5393740.67000000 0.181060818117 Long DBT CORP US N 2 2023-10-02 Fixed 1.45000000 N N N N N N Starwood Mortgage Residential Trust N/A Starwood Mortgage Residential Trust, Series 2020-INV1, Class A1 85573EAA5 8315108.47000000 PA USD 8327149.58000000 0.279531517695 Long ABS-MBS CORP US N 2 2055-11-25 Variable 1.02700000 N N N N N N Southern California Edison Co. 9R1Z5I36FERIBVKW4P77 Southern California Edison Co., Series A 842400GX5 11245000.00000000 PA USD 11248652.60000000 0.377602552122 Long DBT CORP US N 2 2021-12-03 Floating 0.39850000 N N N N N N Brookfield Infrastructure Holdings Canada, Inc. 549300GV8LYH0T7DZO77 Brookfield Infrastructure Holdings Canada, Inc. 11275MVA1 9000000.00000000 PA USD 8999543.52000000 0.302102902625 Long DBT CORP CA N 2 2021-08-10 Fixed 0.00000000 N N N N N N Walt Disney Co. (The) 549300GZKULIZ0WOW665 Walt Disney Co. (The) 254687FG6 4762000.00000000 PA USD 4763290.55000000 0.159897432353 Long DBT CORP US N 2 2021-09-01 Floating 0.38463000 N N N N N N Angel Oak Mortgage Trust I LLC N/A Angel Oak Mortgage Trust I LLC, Series 2019-1, Class A1 03464MAA2 2649984.59000000 PA USD 2682203.63000000 0.090038066959 Long ABS-MBS CORP US N 2 2048-11-25 Variable 3.92000000 N N N N N N Verus Securitization Trust N/A Verus Securitization Trust, Series 2021-4, Class A1 92538HAA8 15000000.00000000 PA USD 15049554.00000000 0.505193839722 Long ABS-MBS CORP US N 2 2066-07-25 Variable 0.93800000 N N N N N N KeyBank N.A. HUX2X73FUCYHUVH1BK78 KeyBank N.A. 49327M2Y9 18038000.00000000 PA USD 18098038.40000000 0.607527472956 Long DBT CORP US N 2 2022-02-01 Floating 0.83563000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 0020A2YJ5 9700000.00000000 PA USD 9695453.90000000 0.325463703681 Long DBT CORP US N 2 2021-11-18 Fixed 0.00000000 N N N N N N Octagon Investment Partners XVII Ltd. 54930007Y57X4ONHQV20 Octagon Investment Partners XVII Ltd., Series 2013-1A, Class A1R2 67590GBG3 5000000.00000000 PA USD 4998827.65000000 0.167804104667 Long ABS-CBDO CORP KY N 2 2031-01-25 Floating 1.12525000 N N N N N N Hewlett Packard Enterprise Co. 549300BX44RGX6ANDV88 Hewlett Packard Enterprise Co. 42824CBB4 7059000.00000000 PA USD 7060328.01000000 0.237005974866 Long DBT CORP US N 2 2021-10-05 Floating 0.85788000 N N N N N N NXP B.V. / NXP Funding LLC N/A NXP B.V. / NXP Funding LLC 62947QAV0 22725000.00000000 PA USD 24352779.71000000 0.817490956184 Long DBT CORP XX N 2 2023-06-01 Fixed 4.62500000 N N N N N N ABN AMRO Bank N.V. BFXS5XCH7N0Y05NIXW11 ABN AMRO Bank N.V. 00084DAS9 4834000.00000000 PA USD 4836073.25000000 0.162340652377 Long DBT CORP NL N 2 2021-08-27 Floating 0.70850000 N N N N N N Nomura Securities International, Inc. OXTKY6Q8X53C9ILVV871 Nomura Securities International, Inc. N/A 25000000.00000000 PA USD 25000000.00000000 0.839217294616 Long RA CORP US N 2 Repurchase Y 0.74200000 2021-11-30 304634908 USD 12952990.89 USD ABS 336183457 USD 14547023.14 USD PLCMO N N N UBS AG BFM8T61CT2L1QCEMIK50 UBS AG 902674YF1 10417000.00000000 PA USD 10416712.59000000 0.349675414343 Long DBT CORP CH N 2 2023-06-01 Fixed 0.37500000 N N N N N N Golub Capital Partners Clo 36m Ltd. N/A Golub Capital Partners Clo 36m Ltd., Series 2018-36A, Class A 38175BAA2 5000000.00000000 PA USD 4991939.21000000 0.167572868748 Long ABS-CBDO CORP KY N 2 2031-02-05 Floating 1.47638000 N N N N N N Invesco Private Government Fund N/A Invesco Private Government Fund N/A 2525532.59000000 NS USD 2525532.59000000 0.084778825105 Long STIV PF US N 2 N N Residential Mortgage Loan Trust N/A Residential Mortgage Loan Trust, Series 2020-1, Class A1 76119CAA9 3682569.24000000 PA USD 3727231.44000000 0.125118283419 Long ABS-MBS CORP US N 2 2024-02-25 Variable 2.37600000 N N N N N N Harley-Davidson Financial Services, Inc. RLUFFFFW4GRYU77BTS24 Harley-Davidson Financial Services, Inc. 41282JV24 15000000.00000000 PA USD 14999717.55000000 0.503520895293 Long DBT CORP US N 2 2021-08-02 Fixed 0.00000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 Morgan Stanley 61744YAN8 14598000.00000000 PA USD 15188686.90000000 0.509864349159 Long DBT CORP US N 2 2023-01-23 Fixed 3.12500000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 0020A2YG1 10700000.00000000 PA USD 10695108.07000000 0.359020786405 Long DBT CORP US N 2 2021-11-16 Fixed 0.00000000 N N N N N N Humana, Inc. 529900YLDW34GJAO4J06 Humana, Inc. 44486HY56 12000000.00000000 PA USD 11989089.36000000 0.402458045504 Long DBT CORP US N 2 2021-11-05 Fixed 0.00000000 N N N N N N Aviation Capital Group LLC 549300ODEK8HY3445C77 Aviation Capital Group LLC 05369BV55 10000000.00000000 PA USD 9999875.00000000 0.335682721760 Long DBT CORP US N 2 2021-08-05 Fixed 0.00000000 N N N N N N Shell International Finance B.V. 213800ITMMKU4Z7I4F78 Shell International Finance B.V. 822582CJ9 13333000.00000000 PA USD 13338313.73000000 0.447749742529 Long DBT CORP NL N 2 2023-09-15 Fixed 0.37500000 N N N N N N John Deere Capital Corp. E0KSF7PFQ210NWI8Z391 John Deere Capital Corp. 24422EVE6 2687000.00000000 PA USD 2732321.36000000 0.091720453590 Long DBT CORP US N 2 2023-04-06 Fixed 1.20000000 N N N N N N COLT Mortgage Loan Trust N/A COLT Mortgage Loan Trust, Class 2020-1, Class A1 12597KAA7 4280654.30000000 PA USD 4303661.96000000 0.144468301880 Long ABS-MBS CORP US N 2 2050-02-25 Variable 2.48800000 N N N N N N New Residential Mortgage Loan Trust N/A New Residential Mortgage Loan Trust, Series 2019-NQM4, Class A1 64828EAA3 4911499.28000000 PA USD 4953775.99000000 0.166291779378 Long ABS-MBS CORP US N 2 2059-09-25 Variable 2.49188000 N N N N N N GCAT LLC N/A GCAT LLC, Series 2019-NQM1, Class A1 36166PAA6 5947268.63000000 PA USD 5983025.99000000 0.200842355397 Long ABS-MBS CORP US N 2 2059-02-25 Variable 2.98500000 N N N N N N White Plains Capital Co. LLC N/A White Plains Capital Co. LLC 96437TXT9 8000000.00000000 PA USD 7992187.76000000 0.268287287600 Long ABS-APCP CORP US N 2 2021-10-27 Fixed 0.00000000 N N N N N N Canadian Imperial Bank of Commerce 2IGI19DL77OX0HC3ZE78 Canadian Imperial Bank of Commerce 13607GRK2 17045000.00000000 PA USD 17226995.43000000 0.578287699965 Long DBT CORP CA N 2 2023-06-23 Fixed 0.95000000 N N N N N N Angel Oak Mortgage Trust I LLC N/A Angel Oak Mortgage Trust I LLC, Series 2019-2, Class A1 03463WAA1 2764906.76000000 PA USD 2798919.54000000 0.093956067368 Long ABS-MBS CORP US N 2 2049-03-25 Variable 3.62800000 N N N N N N Fidelity National Information Services, Inc. 6WQI0GK1PRFVBA061U48 Fidelity National Information Services, Inc. 31620MBP0 3571000.00000000 PA USD 3573616.33000000 0.119961625138 Long DBT CORP US N 2 2023-03-01 Fixed 0.37500000 N N N N N N Hyundai Capital America 549300RIPPWJB5Z0FK07 Hyundai Capital America 44891ABV8 10526000.00000000 PA USD 10510795.30000000 0.352833647837 Long DBT CORP US N 2 2024-06-14 Fixed 0.87500000 N N N N N N American Tower Corp. 5493006ORUSIL88JOE18 American Tower Corp. 03027XAL4 6747000.00000000 PA USD 6806431.22000000 0.228482991777 Long DBT CORP US N 2 2022-01-15 Fixed 2.25000000 N N N N N N Fifth Third BanCorp THRNG6BD57P9QWTQLG42 Fifth Third BanCorp 316773CX6 10000000.00000000 PA USD 10725894.90000000 0.360054260012 Long DBT CORP US N 2 2024-01-25 Fixed 3.65000000 N N N N N N Goldentree Loan Management US CLO 2 Ltd. 549300UYD6YMBA6XSE43 Goldentree Loan Management US CLO 2 Ltd., Series 2017-2A, Class A 38136MAC2 10000000.00000000 PA USD 10011824.45000000 0.336083849164 Long ABS-CBDO CORP KY N 2 2030-11-28 Floating 1.28425000 N N N N N N White Plains Capital Co. LLC N/A White Plains Capital Co. LLC 96437TY92 15000000.00000000 PA USD 14982872.55000000 0.502955430679 Long ABS-APCP CORP US N 2 2021-11-09 Fixed 0.00000000 N N N N N N Diamond CLO 2019-1 LLC N/A Diamond CLO 2019-1 LLC, Class 2019-1A, Class A1R 25257AAL8 9816772.18000000 PA USD 9836108.97000000 0.330185310374 Long ABS-CBDO CORP KY N 2 2029-04-25 Floating 1.32525000 N N N N N N New Residential Mortgage Loan Trust N/A New Residential Mortgage Loan Trust, Series 2017-5A, Class A1 64828NAA3 540038.46000000 PA USD 549463.00000000 0.018444754094 Long ABS-MBS CORP US N 2 2057-06-25 Floating 1.58925000 N N N N N N BMW US Capital LLC KK5MZM9DIXLXZL9DZL15 BMW US Capital LLC 05565EBM6 10000000.00000000 PA USD 10557438.00000000 0.354399382257 Long DBT CORP US N 2 2023-04-06 Fixed 3.80000000 N N N N N N 7-Eleven, Inc. 549300K23JPL0SS3LB18 7-Eleven, Inc. 817826AA8 5882000.00000000 PA USD 5885994.53000000 0.197585136223 Long DBT CORP US N 2 2023-02-10 Fixed 0.62500000 N N N N N N Harley-Davidson Financial Services, Inc. RLUFFFFW4GRYU77BTS24 Harley-Davidson Financial Services, Inc. 41282JX48 9500000.00000000 PA USD 9493294.62000000 0.318677481119 Long DBT CORP US N 2 2021-10-04 Fixed 0.00000000 N N N N N N New York Life Global Funding 635400DPNHEAUHB7ZI15 New York Life Global Funding 64952WDJ9 7407000.00000000 PA USD 7438007.85000000 0.249684193008 Long DBT CORP US N 2 2022-07-12 Floating 0.55900000 N N N N N N American Express Co. R4PP93JZOLY261QX3811 American Express Co. 025816BZ1 17000000.00000000 PA USD 17013599.83000000 0.571124288840 Long DBT CORP US N 2 2021-11-05 Floating 0.77638000 N N N N N N U.S. Treasury Bills 254900HROIFWPRGM1V77 U.S. Treasury Bills 912796K81 25000000.00000000 PA USD 24994359.25000000 0.839027942018 Long DBT UST US N 2 2022-01-20 None 0.00000000 N N N N N N Credit Suisse AG 549300D0YARF5HYP1809 Credit Suisse AG 22550UAA9 15000000.00000000 PA USD 15023373.90000000 0.504315008014 Long DBT CORP CH N 2 2022-02-04 Floating 0.47958000 N N N N N N Navient Private Education Refi Loan Trust N/A Navient Private Education Refi Loan Trust, Class 2020-FA, Class A 63941XAA5 3899215.09000000 PA USD 3926860.14000000 0.131819557721 Long ABS-O CORP US N 2 2069-07-15 Fixed 1.22000000 N N N N N N Aviation Capital Group LLC 549300ODEK8HY3445C77 Aviation Capital Group LLC 05369BV22 1000000.00000000 PA USD 999993.75000000 0.033568481980 Long DBT CORP US N 2 2021-08-02 Fixed 0.00000000 N N N N N N Brighthouse Financial Global Funding 549300BLFX3KJ2IFOA78 Brighthouse Financial Global Funding 10921U2D9 3255000.00000000 PA USD 3260851.71000000 0.109462526008 Long DBT CORP US N 2 2023-06-28 Fixed 0.60000000 N N N N N N Harley-Davidson Financial Services, Inc. RLUFFFFW4GRYU77BTS24 Harley-Davidson Financial Services, Inc. 41282JZ12 10000000.00000000 PA USD 9980504.40000000 0.335032476059 Long DBT CORP US N 2 2021-12-01 Fixed 0.00000000 N N N N N N Verus Securitization Trust N/A Verus Securitization Trust, Series 2020-1, Class A1 92536PAA2 6510469.06000000 PA USD 6614005.05000000 0.222023496985 Long ABS-MBS CORP US N 2 2060-01-25 Variable 2.41700000 N N N N N N AstraZeneca PLC PY6ZZQWO2IZFZC3IOL08 AstraZeneca PLC 046353AY4 10000000.00000000 PA USD 10007378.10000000 0.335934591011 Long DBT CORP GB N 2 2023-05-26 Fixed 0.30000000 N N N N N N Marriott International, Inc. 225YDZ14ZO8E1TXUSU86 Marriott International, Inc., Series N 571903AM5 11412000.00000000 PA USD 11417775.38000000 0.383279782597 Long DBT CORP US N 2 2021-10-15 Fixed 3.12500000 N N N N N N Tesla Auto Lease Trust N/A Tesla Auto Lease Trust, Series 2020-A, Class A2 88167HAB2 1395278.87000000 PA USD 1397293.37000000 0.046905310470 Long ABS-O CORP US N 2 2023-05-22 Fixed 0.55000000 N N N N N N American Electric Power Co., Inc. 1B4S6S7G0TW5EE83BO58 American Electric Power Co., Inc., Series M 025537AQ4 3797000.00000000 PA USD 3800194.83000000 0.127567568969 Long DBT CORP US N 2 2023-11-01 Fixed 0.75000000 N N N N N N Humana, Inc. 529900YLDW34GJAO4J06 Humana, Inc. 444859BP6 2917000.00000000 PA USD 2917701.60000000 0.097943425730 Long DBT CORP US N 2 2023-08-03 Fixed 0.65000000 N N N N N N Conagra Brands, Inc. 54930035UDEIH090K650 Conagra Brands, Inc. 20600GX84 10000000.00000000 PA USD 9994322.20000000 0.335496321528 Long DBT CORP US N 2 2021-10-08 Fixed 0.00000000 N N N N N N Onslow Bay Financial LLC N/A Onslow Bay Financial LLC, Series 2021-NQM2, Class A1 670857AA9 14575680.61000000 PA USD 14625523.61000000 0.490959694253 Long ABS-MBS CORP US N 2 2061-05-25 Variable 1.10100000 N N N N N N PayPal Holdings, Inc. 5493005X2GO78EFZ3E94 PayPal Holdings, Inc. 70450YAF0 9688000.00000000 PA USD 9873490.32000000 0.331440153390 Long DBT CORP US N 2 2023-06-01 Fixed 1.35000000 N N N N N N Atrium XIII 549300BF3YFW8EHN6F75 Atrium XIII, Series 13A, Class A1 04966HAA4 3000000.00000000 PA USD 3002113.73000000 0.100777030504 Long ABS-CBDO CORP KY N 2 2030-11-21 Floating 1.31788000 N N N N N N Apple, Inc. HWUPKR0MPOU8FGXBT394 Apple, Inc. 037833DV9 7143000.00000000 PA USD 7207902.23000000 0.241959848372 Long DBT CORP US N 2 2023-05-11 Fixed 0.75000000 N N N N N N B.A.T. Capital Corp. 2138005GYEXN7XRHFA84 B.A.T. Capital Corp. 05526DAV7 12685000.00000000 PA USD 12968263.79000000 0.435327650148 Long DBT CORP US N 2 2022-08-15 Fixed 2.76400000 N N N N N Angel Oak Mortgage Trust N/A Angel Oak Mortgage Trust, Series 2020-1, Class A1 03464RAA1 3656824.85000000 PA USD 3677171.42000000 0.123437834037 Long ABS-MBS CORP US N 2 2059-12-25 Variable 2.15613000 N N N N N N Toorak Mortgage Corp. N/A Toorak Mortgage Corp., Series 2021-INV1, Class A1 89688WAA9 10750000.00000000 PA USD 10788125.95000000 0.362143274949 Long ABS-MBS CORP US N 2 2056-07-25 Variable 1.15300000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 Goldman Sachs Group, Inc. (The) 38141GGS7 15517000.00000000 PA USD 15923645.64000000 0.534535952577 Long DBT CORP US N 2 2022-01-24 Fixed 5.75000000 N N N N N N Athene Global Funding 549300LM1QSI4MSIL320 Athene Global Funding 04685A2S9 5000000.00000000 PA USD 5041270.65000000 0.169228860652 Long DBT CORP US N 2 2024-01-08 Fixed 0.95000000 N N N N N N Residential Mortgage Loan Trust N/A Residential Mortgage Loan Trust, Series 2019-3, Class A1 76119NAA5 4820453.87000000 PA USD 4884984.32000000 0.163982533011 Long ABS-MBS CORP US N 2 2059-09-25 Variable 2.63300000 N N N N N N US Bank N.A. 6BYL5QZYBDK8S7L73M02 US Bank N.A. 90331HNY5 9091000.00000000 PA USD 9099094.17000000 0.305444687712 Long DBT CORP US N 2 2021-11-16 Floating 0.53588000 N N N N N N Enel Finance America LLC 549300EGNLVUJX1DEC60 Enel Finance America LLC 29279GWV5 10000000.00000000 PA USD 9997187.20000000 0.335592495830 Long DBT CORP US N 2 2021-09-29 Fixed 0.00000000 N N N N N N Dryden Senior Loan Fund 549300AS2O1RYPD2ED41 Dryden Senior Loan Fund, Class 2013-30A, Class AR 26249BAQ4 14397426.11000000 PA USD 14424401.19000000 0.484208277725 Long ABS-CBDO CORP KY N 2 2028-11-15 Floating 0.97588000 N N N N N N Bear Stearns Asset Backed Securities I Trust N/A Bear Stearns Asset Backed Securities I Trust, Series 2006-HE9, Class 2A 07389MAD9 1357505.94000000 PA USD 1338450.22000000 0.044930022904 Long ABS-MBS CORP US N 2 2036-11-25 Floating 0.22925000 N N N N N N Sudbury Mill CLO Ltd. 2549002BXC788OTPUW39 Sudbury Mill CLO Ltd., Series 2013-1A, Class B1R 864662AP6 1408544.91000000 PA USD 1411848.72000000 0.047393914528 Long ABS-CBDO CORP KY N 2 2026-01-17 Floating 1.78388000 N N N N N N Volkswagen Group of America Finance LLC 5493002SQ1AVQBY41K40 Volkswagen Group of America Finance LLC 92866BY82 20000000.00000000 PA USD 19974637.80000000 0.670522459818 Long DBT CORP US N 2 2021-11-08 Fixed 0.00000000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 Capital One Financial Corp. 14040HBM6 10000000.00000000 PA USD 10046285.40000000 0.337240658173 Long DBT CORP US N 2 2022-03-09 Floating 1.07313000 N N N N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546AU8 12500000.00000000 PA USD 13165522.88000000 0.441949379742 Long DBT CORP US N 2 2023-04-06 Fixed 3.70000000 N N N N N N Credit Suisse AG 549300D0YARF5HYP1809 Credit Suisse AG 22550L2D2 13636000.00000000 PA USD 13790295.16000000 0.462922167845 Long DBT CORP CH N 2 2023-05-05 Fixed 1.00000000 N N N N N N Verus Securitization Trust N/A Verus Securitization Trust, Series 2020-5, Class A1 92538CAA9 7047931.74000000 PA USD 7071476.06000000 0.237380200320 Long ABS-MBS CORP US N 2 2065-05-25 Variable 1.21800000 N N N N N N Daimler Finance North America LLC 549300423Z16BB673J12 Daimler Finance North America LLC 233851DD3 21462000.00000000 PA USD 22426253.96000000 0.752820007067 Long DBT CORP US N 2 2023-02-22 Fixed 3.35000000 N N N N N N Angel Oak Mortgage Trust I LLC N/A Angel Oak Mortgage Trust I LLC, Series 2019-4, Class A1 03463UAA5 2381181.08000000 PA USD 2403574.90000000 0.080684864999 Long ABS-MBS CORP US N 2 2049-07-26 Variable 2.99300000 N N N N N N VW Credit, Inc. 549300UUPJ2NXDB68M19 VW Credit, Inc. 91842JVR7 15000000.00000000 PA USD 14998461.60000000 0.503478734694 Long DBT CORP US N 2 2021-08-25 Fixed 0.00000000 N N N N N N Nationstar Home Equity Loan Trust N/A Nationstar Home Equity Loan Trust, Series 2007-B, Class 1AV1 63860LAA8 1393561.04000000 PA USD 1383290.63000000 0.046435256807 Long ABS-MBS CORP US N 2 2037-04-25 Floating 0.30925000 N N N N N N KKR CLO 21 Ltd. 5493008X0MRR4A6VYF15 KKR CLO 21 Ltd., Series A 48252KAA7 2000000.00000000 PA USD 2000000.00000000 0.067137383569 Long ABS-CBDO CORP KY N 2 2031-04-15 Floating 1.12613000 N N N N N N Danske Bank A/S MAES062Z21O4RZ2U7M96 Danske Bank A/S 23636AAM3 9000000.00000000 PA USD 9116380.89000000 0.306024980288 Long DBT CORP DK N 2 2022-03-02 Fixed 2.70000000 N N N N N N Chesapeake Funding II LLC 5493000HT7H4OFOD6Z12 Chesapeake Funding II LLC, Series 2018-3A, Class A1 165183BT0 2534153.59000000 PA USD 2583731.26000000 0.086732478321 Long ABS-O CORP US N 2 2031-01-15 Fixed 3.39000000 N N N N N N Duke Energy Progress LLC 0NIFZ782LS46WOC9QK20 Duke Energy Progress LLC, Series A 26442UAJ3 9756000.00000000 PA USD 9756224.10000000 0.327503679795 Long DBT CORP US N 2 2022-02-18 Floating 0.33513000 N N N N N N Mountcliff Funding LLC 549300QQWCVSS127SC64 Mountcliff Funding LLC 62455AW78 25000000.00000000 PA USD 24997427.00000000 0.839130922372 Long ABS-APCP CORP US N 2 2021-09-07 Fixed 0.00000000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 0020A2ZF2 6400000.00000000 PA USD 6395902.91000000 0.214702093470 Long DBT CORP US N 2 2021-12-15 Fixed 0.00000000 N N N N N N Viatris, Inc. 254900ZZTSW7NL773X71 Viatris, Inc. 92557MXJ9 15000000.00000000 PA USD 14986166.70000000 0.503066010985 Long DBT CORP US N 2 2021-10-18 Fixed 0.00000000 N N N N N N Pioneer Natural Resources Co. FY8JBF7CCL2VE4F1B628 Pioneer Natural Resources Co. 723787AU1 3509000.00000000 PA USD 3514304.66000000 0.117970609968 Long DBT CORP US N 2 2023-05-15 Fixed 0.55000000 N N N N N N Invesco Private Prime Fund N/A Invesco Private Prime Fund N/A 5890553.28000000 NS USD 5892909.56000000 0.197817264734 Long STIV PF US N 2 N N MPLX L.P. 5493000CZJ19CK4P3G36 MPLX L.P. 55336VBH2 2844000.00000000 PA USD 2845896.86000000 0.095533034544 Long DBT CORP US N 2 2022-09-09 Floating 1.22313000 N N N N N N Glencore Funding LLC 213800STG1QDNBY87K49 Glencore Funding LLC 37790AV91 33200000.00000000 PA USD 33198561.44000000 1.114432276673 Long DBT CORP US N 2 2021-08-09 Fixed 0.00000000 N N N N N N SunTrust Robinson Humphrey CSVTK36R0PNGXEM7NS14 SunTrust Robinson Humphrey N/A 22500000.00000000 PA USD 22500000.00000000 0.755295565155 Long RA CORP US N 2 Repurchase Y 0.40000000 2021-08-27 3371400 USD 3587482.11 USD UST 18159000 USD 20888949.16 USD CDS N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 0020A2ZG0 4500000.00000000 PA USD 4497080.99000000 0.150961125684 Long DBT CORP US N 2 2021-12-16 Fixed 0.00000000 N N N N N N Brookfield Infrastructure Holdings Canada, Inc. 549300GV8LYH0T7DZO77 Brookfield Infrastructure Holdings Canada, Inc. 11275MVQ6 17250000.00000000 PA USD 17247520.31000000 0.578976693336 Long DBT CORP CA N 2 2021-08-24 Fixed 0.00000000 N N N N N N CommonSpirit Health 4SXHN5XW08IBO0UG2V58 CommonSpirit Health, Series A 14918EZ20 17500000.00000000 PA USD 17489852.45000000 0.587111466253 Long DBT CORP US N 2 2021-12-02 Fixed 0.00000000 N N N N N N AIG Global Funding 54930057MDZ7KOVOTV71 AIG Global Funding, Series 2019-A2, Class A 00138CAK4 5000000.00000000 PA USD 5091584.10000000 0.170917817348 Long DBT CORP US N 2 2022-07-01 Fixed 2.30000000 N N N N N N Fidelity National Information Services, Inc. 6WQI0GK1PRFVBA061U48 Fidelity National Information Services, Inc. 31621YV97 15000000.00000000 PA USD 14999462.55000000 0.503512335276 Long DBT CORP US N 2 2021-08-09 Fixed 0.00000000 N N N N N N Starwood Mortgage Residential Trust N/A Starwood Mortgage Residential Trust, Series 2021-2, Class A1 85573HAA8 7644694.56000000 PA USD 7655787.01000000 0.256994754507 Long ABS-MBS CORP US N 2 2065-05-25 Variable 0.94300000 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 0020A2XM9 13000000.00000000 PA USD 12995653.97000000 0.436247102659 Long DBT CORP US N 2 2021-10-21 Fixed 0.00000000 N N N N N N MassMutual Global Funding II 549300K1IE3K7YU6VG29 MassMutual Global Funding II 57629WDC1 15022000.00000000 PA USD 15070882.94000000 0.505909824335 Long DBT CORP US N 2 2024-04-12 Floating 0.41000300 N N N N N N Atmos Energy Corp. QVLWEGTD2S8GJMO8D383 Atmos Energy Corp. 049560AV7 9756000.00000000 PA USD 9758754.90000000 0.327588635440 Long DBT CORP US N 2 2023-03-09 Floating 0.50313000 N N N N N N BPCE S.A. 9695005MSX1OYEMGDF46 BPCE S.A. 05583JAB8 12000000.00000000 PA USD 12104859.60000000 0.406344301009 Long DBT CORP FR N 2 2022-05-22 Floating 1.37013000 N N N N N N Entergy Corp. 4XM3TW50JULSLG8BNC79 Entergy Corp. 29366EW77 15000000.00000000 PA USD 14996993.70000000 0.503429459211 Long DBT CORP US N 2 2021-09-07 Fixed 0.00000000 N N N N N N Humana, Inc. 529900YLDW34GJAO4J06 Humana, Inc. 44486HXK4 14000000.00000000 PA USD 13990172.00000000 0.469631771882 Long DBT CORP US N 2 2021-10-19 Fixed 0.00000000 N N N N N N Protective Life Global Funding 635400EVYITCJYWL2I50 Protective Life Global Funding 74368CAZ7 4192000.00000000 PA USD 4212703.58000000 0.141414948057 Long DBT CORP US N 2 2023-10-13 Fixed 0.63100000 N N N N N New Residential Mortgage Loan Trust N/A New Residential Mortgage Loan Trust, Series 2020-NQM1, Series A1 64830VAA1 2916396.39000000 PA USD 2962359.67000000 0.099442538717 Long ABS-MBS CORP US N 2 2060-01-26 Variable 2.46413000 N N N N N N USAA Capital Corp. 5493007XLF4LU3U2W757 USAA Capital Corp. 90327QD71 7500000.00000000 PA USD 7507899.53000000 0.252030365272 Long DBT CORP US N 2 2024-05-01 Fixed 0.50000000 N N N N N N Mizuho Financial Group, Inc. 353800CI5L6DDAN5XZ33 Mizuho Financial Group, Inc. 60687YAL3 6500000.00000000 PA USD 6667591.71000000 0.223822331059 Long DBT CORP JP N 2 2022-09-11 Fixed 2.60100000 N N N N N N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 General Motors Financial Co., Inc. 37046TVX9 6500000.00000000 PA USD 6497706.22000000 0.218119497406 Long DBT CORP US N 2 2021-08-31 Fixed 0.00000000 N N N N N N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 General Motors Financial Co., Inc. 37046TVB7 5000000.00000000 PA USD 4999481.65000000 0.167826058591 Long DBT CORP US N 2 2021-08-11 Fixed 0.00000000 N N N N N N Crown Castle International Corp. 54930012H97VSM0I2R19 Crown Castle International Corp. 22822VAJ0 11626000.00000000 PA USD 12203842.66000000 0.409667032842 Long DBT CORP US N 2 2023-07-15 Fixed 3.15000000 N N N N N N Sumitomo Mitsui Financial Group, Inc. 35380028MYWPB6AUO129 Sumitomo Mitsui Financial Group, Inc. 86562MCC2 1364000.00000000 PA USD 1363404.74000000 0.045767713494 Long DBT CORP JP N 2 2024-01-12 Fixed 0.50800000 N N N N N N Aviation Capital Group LLC 549300ODEK8HY3445C77 Aviation Capital Group LLC 05369BVA4 20000000.00000000 PA USD 19999511.20000000 0.671357427316 Long DBT CORP US N 2 2021-08-10 Fixed 0.00000000 N N N N N N CenterPoint Energy Resources Corp. 2JADVB0458J06WCD4N56 CenterPoint Energy Resources Corp. 15189WAN0 14493000.00000000 PA USD 14496655.71000000 0.486633767437 Long DBT CORP US N 2 2023-03-02 Floating 0.63138000 N N N N N N Unilever Capital Corp. MYF1DAS6G5WY7PRWCU78 Unilever Capital Corp. 904764BJ5 3917000.00000000 PA USD 3927955.30000000 0.131856320809 Long DBT CORP US N 2 2023-09-14 Fixed 0.37500000 N N N N N N Golub Capital Partners CLO Ltd. N/A Golub Capital Partners CLO Ltd., Series 2020-47A, Class A1 38176VAA7 10000000.00000000 PA USD 9997606.17000000 0.335606560105 Long ABS-CBDO CORP KY N 2 2032-05-05 Floating 1.85638000 N N N N N N Canadian Imperial Bank of Commerce 2IGI19DL77OX0HC3ZE78 Canadian Imperial Bank of Commerce 13607GRS5 8571000.00000000 PA USD 8566401.32000000 0.287562885614 Long DBT CORP CA N 2 2023-12-14 Fixed 0.50000000 N N N N N OCP CLO Ltd. 254900NUK1R46EK6YF62 OCP CLO Ltd., Series 2014-7A, Class A1RR 67107KAZ9 6750000.00000000 PA USD 6753382.13000000 0.226702203226 Long ABS-CBDO CORP KY N 2 2029-07-20 Floating 1.25425000 N N N N N N GA Global Funding Trust 54930029I8ROQ4OROZ88 GA Global Funding Trust 36143L2B0 17219000.00000000 PA USD 17346384.96000000 0.582295450300 Long DBT CORP US N 2 2024-04-08 Fixed 1.00000000 N N N N N N Mondelez International Holdings Netherlands B.V. 549300CW356R8I7N8D33 Mondelez International Holdings Netherlands B.V. 60920LAE4 8995000.00000000 PA USD 9178196.40000000 0.308100046090 Long DBT CORP NL N 2 2022-09-19 Fixed 2.12500000 N N N N N N Humana, Inc. 529900YLDW34GJAO4J06 Humana, Inc. 44486HY80 13000000.00000000 PA USD 12987563.03000000 0.435975500388 Long DBT CORP US N 2 2021-11-08 Fixed 0.00000000 N N N N N N J.P. Morgan Securities LLC ZBUT11V806EZRVTWT807 J.P. Morgan Securities LLC N/A 30000000.00000000 PA USD 30000000.00000000 1.007060753540 Long RA CORP US N 2 Repurchase Y 0.38000000 2059-12-01 28867990 USD 33000000.76 USD CDS N N N Ralph Lauren Corp. HO1QNWM0IXBZ0QSMMO20 Ralph Lauren Corp. 731572AA1 3519000.00000000 PA USD 3564864.22000000 0.119667828255 Long DBT CORP US N 2 2022-06-15 Fixed 1.70000000 N N N N N N Honeywell International, Inc. ISRPG12PN4EIEOEMW547 Honeywell International, Inc. 438516CD6 5096000.00000000 PA USD 5096824.43000000 0.171093728371 Long DBT CORP US N 2 2022-08-19 Floating 0.37963000 N N N N N N McDonald's Corp. UE2136O97NLB5BYP9H04 McDonald's Corp. 58013MFG4 10652000.00000000 PA USD 10663121.97000000 0.357947054873 Long DBT CORP US N 2 2021-10-28 Floating 0.56163000 N N N N N N COLT Mortgage Loan Trust N/A COLT Mortgage Loan Trust, Series 2019-4, Class A1 196860AA8 3762783.89000000 PA USD 3777306.73000000 0.126799245395 Long ABS-MBS CORP US N 2 2049-11-25 Variable 2.57900000 N N N N N N Neuberger Berman CLO XIV Ltd. 549300Z5ZNFT7IECFZ07 Neuberger Berman CLO XIV Ltd., Series 2013-14A 64129JBE9 10000000.00000000 PA USD 10012977.94000000 0.336122570314 Long ABS-CBDO CORP KY N 2 2030-01-28 Floating 1.16163000 N N N N N N Keurig Dr Pepper, Inc. DYTQ8KRTKO7Y2BVU5K74 Keurig Dr Pepper, Inc. 49271KB78 15000000.00000000 PA USD 14980879.95000000 0.502888541704 Long DBT CORP US N 2 2022-02-07 Fixed 0.00000000 N N N N N N Arrow Electronics, Inc. 549300YNNLBXT8N8R512 Arrow Electronics, Inc. 04273LV36 32500000.00000000 PA USD 32498913.20000000 1.090946000547 Long DBT CORP US N 2 2021-08-03 Fixed 0.00000000 N N N N N N GoldenTree Loan Opportunities IX Ltd. 549300IOBSI2NBFBJX90 GoldenTree Loan Opportunities IX Ltd., Series 2014-9A, Class AR2 38123HAN4 12000000.00000000 PA USD 12005993.60000000 0.403025498727 Long ABS-CBDO CORP KY N 2 2029-10-29 Floating 1.23963000 N N N N N N Golub Capital Partners CLO 39B Ltd. 254900UTQO35BUTIHC49 Golub Capital Partners CLO 39B Ltd., Series 2018-39A, Class A1 38176LAA9 8381542.90000000 PA USD 8400169.54000000 0.281982702227 Long ABS-CBDO CORP KY N 2 2028-10-20 Floating 1.28425000 N N N N N N AmerisourceBergen Corp. AI8GXW8LG5WK7E9UD086 AmerisourceBergen Corp. 03073EAS4 10170000.00000000 PA USD 10190008.15000000 0.342065242870 Long DBT CORP US N 2 2023-03-15 Fixed 0.73700000 N N N N N N National Bank of Canada BSGEFEIOM18Y80CKCV46 National Bank of Canada 63307A2L8 5000000.00000000 PA USD 5024471.10000000 0.168664921736 Long DBT CORP CA N 2 2023-08-15 Variable 0.90000000 N N N N N N Golub Capital Partners CLO Ltd. 254900SGGS5FSVUNJG17 Golub Capital Partners CLO Ltd., Series 2019-45A, Class A 38172HAA2 5000000.00000000 PA USD 5010276.78000000 0.168188436983 Long ABS-CBDO CORP KY N 2 2031-10-20 Floating 1.85425000 N N N N N N Star Trust N/A Star Trust, Series 2021-SFR1, Class A 85521DAA0 19775913.41000000 PA USD 19785783.57000000 0.664182870379 Long ABS-MBS CORP US N 2 2038-04-17 Floating 0.69000000 N N N N N N BMW Vehicle Owner Trust N/A BMW Vehicle Owner Trust, Series 2020-A, Class A2 09661RAB7 1358252.72000000 PA USD 1358929.94000000 0.045617500312 Long ABS-O CORP US N 2 2023-02-27 Fixed 0.39000000 N N N N N N Jackson National Life Global Funding 635400PQXLYXWJI5QD78 Jackson National Life Global Funding 46849LTN1 10000000.00000000 PA USD 10054566.50000000 0.337518643866 Long DBT CORP US N 2 2023-01-06 Floating 0.65000300 N N N N N N AT&T, Inc. 549300Z40J86GGSTL398 AT&T, Inc. 00206RMH2 9917000.00000000 PA USD 9940909.59000000 0.333703330085 Long DBT CORP US N 2 2024-03-25 Floating 0.69000000 N N N N N N Federation des Caisses Desjardins du Quebec 549300B2Q47IR0CR5B54 Federation des Caisses Desjardins du Quebec 31429KAE3 9868000.00000000 PA USD 9879703.55000000 0.331648723393 Long DBT CORP CA N 2 2024-05-21 Fixed 0.70000000 N N N N N N Hawaiian Electric Industries, Inc. JJ8FWOCWCV22X7GUPJ23 Hawaiian Electric Industries, Inc. 41987KV37 9000000.00000000 PA USD 8999617.50000000 0.302105386037 Long DBT CORP US N 2 2021-08-03 Fixed 0.00000000 N N N N N N AbbVie, Inc. FR5LCKFTG8054YNNRU85 AbbVie, Inc. 00287YBM0 8000000.00000000 PA USD 8200534.88000000 0.275281227856 Long DBT CORP US N 2 2022-11-21 Fixed 2.30000000 N N N N N N Aviation Capital Group LLC 549300ODEK8HY3445C77 Aviation Capital Group LLC 05369BWH8 13000000.00000000 PA USD 12997912.07000000 0.436322904122 Long DBT CORP US N 2 2021-09-17 Fixed 0.00000000 N N N N N N Principal Life Global Funding II 635400WSLKBQWSOIIT41 Principal Life Global Funding II 74256LEM7 5882000.00000000 PA USD 5905211.14000000 0.198230212682 Long DBT CORP US N 2 2024-04-12 Floating 0.50000300 N N N N N N Toronto-Dominion Bank (The) PT3QB789TSUIDF371261 Toronto-Dominion Bank (The) 89114Q3J5 10000000.00000000 PA USD 10026290.80000000 0.336569465608 Long DBT CORP CA N 2 2022-07-22 Variable 0.48825000 N N N N N N Toyota Motor Credit Corp. Z2VZBHUMB7PWWJ63I008 Toyota Motor Credit Corp. 89236THF5 17606000.00000000 PA USD 17683747.57000000 0.593620271775 Long DBT CORP US N 2 2023-08-14 Fixed 0.50000000 N N N N N N WEC Energy Group, Inc. 549300IGLYTZUK3PVP70 WEC Energy Group, Inc. 92930VVG5 14700000.00000000 PA USD 14699055.97000000 0.493428079382 Long DBT CORP US N 2 2021-08-16 Fixed 0.00000000 N N N N N N New York Life Global Funding 635400DPNHEAUHB7ZI15 New York Life Global Funding 64952WDP5 3243000.00000000 PA USD 3293608.38000000 0.110562124567 Long DBT CORP US N 2 2023-05-05 Fixed 1.10000000 N N N N N N Newstar Commercial Loan Funding LLC 549300HA6DDD2ONJSM48 Newstar Commercial Loan Funding LLC, Series 2017-1A, Class BN 65252AAE5 2192936.17000000 PA USD 2198394.36000000 0.073797222691 Long ABS-CBDO CORP US N 2 2027-03-20 Floating 2.63450000 N N N N N N AIG Global Funding 54930057MDZ7KOVOTV71 AIG Global Funding 00138CAM0 7317000.00000000 PA USD 7383940.96000000 0.247869238242 Long DBT CORP US N 2 2023-07-07 Fixed 0.80000000 N N N N N CSMC N/A CSMC, Series 2014-2R, Class 27A1 12648ELS9 125273.56000000 PA USD 123673.07000000 0.004151543168 Long ABS-MBS CORP US N 2 2046-02-27 Floating 0.29150000 N N N N N N CIT Mortgage Loan Trust N/A CIT Mortgage Loan Trust, Series 2007-1, Class 1A 12559QAA0 1105826.14000000 PA USD 1117123.15000000 0.037500362707 Long ABS-MBS CORP US N 2 2037-10-25 Floating 1.43925000 N N N N N N Truist Bank JJKC32MCHWDI71265Z06 Truist Bank 86787EBD8 10833000.00000000 PA USD 10880635.30000000 0.365248692807 Long DBT CORP US N 2 2022-05-17 Floating 0.74588000 N N N N N N Sumitomo Mitsui Banking Corp. 549300MS3WYYVQ4HXM15 Sumitomo Mitsui Banking Corp. 86565CKU2 25000000.00000000 PA USD 25013861.25000000 0.839682598645 Long DBT CORP JP N 2 2022-07-08 Fixed 0.70000000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 Capital One Financial Corp. 14040HCD5 5823000.00000000 PA USD 6040993.44000000 0.202788246860 Long DBT CORP US N 2 2023-05-11 Fixed 2.60000000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 Goldman Sachs Group, Inc. (The) 38141GXP4 11114000.00000000 PA USD 11120965.59000000 0.373316266238 Long DBT CORP US N 2 2023-01-27 Fixed 0.48100000 N N N N N N COLT Funding LLC N/A COLT Funding LLC, Series 2020-2R, Class A1 12656GAA4 5856094.25000000 PA USD 5871215.86000000 0.197089035605 Long ABS-MBS CORP US N 2 2065-10-26 Variable 1.32500000 N N N N N N Enterprise Fleet Financing LLC N/A Enterprise Fleet Financing LLC, Series 2019-1, Class A2 29374AAB0 1348385.20000000 PA USD 1358282.35000000 0.045595761563 Long ABS-O CORP US N 2 2024-10-20 Fixed 2.98000000 N N N N N N AbbVie, Inc. FR5LCKFTG8054YNNRU85 AbbVie, Inc. 00287YCR8 15850000.00000000 PA USD 15941315.81000000 0.535129117067 Long DBT CORP US N 2 2021-12-15 Fixed 5.00000000 N N N N N N Waste Management, Inc. 549300YX8JIID70NFS41 Waste Management, Inc. 94107MVG8 22300000.00000000 PA USD 22298578.38000000 0.748534104874 Long DBT CORP US N 2 2021-08-16 Fixed 0.00000000 N N N N N N Enel Finance America LLC 549300EGNLVUJX1DEC60 Enel Finance America LLC 29279HFM2 9300000.00000000 PA USD 9276924.65000000 0.311414224285 Long DBT CORP US N 2 2022-06-21 Fixed 0.00000000 N N N N N N OBX Trust N/A OBX Trust, Series 2018-EXP1, Class 2A1 67097VAS3 881697.02000000 PA USD 888512.89000000 0.029826215351 Long ABS-MBS CORP US N 2 2048-04-25 Floating 0.93925000 N N N N N N Conagra Brands, Inc. 54930035UDEIH090K650 Conagra Brands, Inc. 20600GW93 21300000.00000000 PA USD 21293086.45000000 0.714781056184 Long DBT CORP US N 2 2021-09-09 Fixed 0.00000000 N N N N N N Fortress Credit Opportunities IX CLO Ltd. 2549008RD44HDM6DNP14 Fortress Credit Opportunities IX CLO Ltd., Series 2017-9A, Class A1T 34961JAC8 2000000.00000000 PA USD 2000584.23000000 0.067156995406 Long ABS-CBDO CORP KY N 2 2029-11-15 Floating 1.70588000 N N N N N N Neuberger Berman CLO Ltd. 549300YJLHTYDSFV8K03 Neuberger Berman CLO Ltd., Series 2017-25, Class AR 64131JAL0 9750000.00000000 PA USD 9749835.56000000 0.327289224864 Long ABS-CBDO CORP KY N 2 2029-10-18 Floating 1.06388000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 Goldman Sachs Group, Inc. (The) 38141GXL3 21111000.00000000 PA USD 21123851.32000000 0.709100054266 Long DBT CORP US N 2 2023-11-17 Variable 0.62700000 N N N N N N Daimler Finance North America LLC 549300423Z16BB673J12 Daimler Finance North America LLC 233851DU5 500000.00000000 PA USD 511067.31000000 0.017155861010 Long DBT CORP US N 2 2022-08-15 Fixed 2.55000000 N N N N N N Southern Co. (The) 549300FC3G3YU2FBZD92 Southern Co. (The), Series 21-A 842587DG9 9524000.00000000 PA USD 9553770.02000000 0.320707561182 Long DBT CORP US N 2 2024-02-26 Fixed 0.60000000 N N N N N N Conagra Brands, Inc. 54930035UDEIH090K650 Conagra Brands, Inc. 20600GXF8 20000000.00000000 PA USD 19987337.80000000 0.670948782204 Long DBT CORP US N 2 2021-10-15 Fixed 0.00000000 N N N N N N Race Point VIII CLO Ltd. 5493008ABAJEYBWITR69 Race Point VIII CLO Ltd., Series 2013-8A, Class AR2 74982LAY6 9873272.84000000 PA USD 9880121.15000000 0.331662741679 Long ABS-CBDO CORP KY N 2 2030-02-20 Floating 1.19525000 N N N N N N ConocoPhillips Co. 6VJJ5GQWIRDQ06DUXG89 ConocoPhillips Co. 20826FAH9 11853000.00000000 PA USD 11927768.01000000 0.400399568006 Long DBT CORP US N 2 2022-05-15 Floating 1.05588000 N N N N N N Metropolitan Life Global Funding I 635400MMSOCXNNNZDZ82 Metropolitan Life Global Funding I 59217GEF2 3749000.00000000 PA USD 3774696.73000000 0.126711631109 Long DBT CORP US N 2 2023-01-13 Floating 0.62000000 N N N N N N CWABS, Inc. Asset-Backed Certificates Trust N/A CWABS, Inc. Asset-Backed Certificates Trust, Series 2004-4, Class M1 1266715K8 1509893.30000000 PA USD 1497014.06000000 0.050252803577 Long ABS-MBS CORP US N 2 2034-07-25 Floating 0.80925000 N N N N N N HSBC Bank PLC MP6I5ZYZBEU3UXPYFY54 HSBC Bank PLC 40433HB12 25000000.00000000 PA USD 24978429.25000000 0.838493192758 Long DBT CORP GB N 2 2022-02-01 Fixed 0.00000000 N N N N N N Regions Financial Corp. CW05CS5KW59QTC0DG824 Regions Financial Corp. 7591EPAP5 7342000.00000000 PA USD 7829270.11000000 0.262818355221 Long DBT CORP US N 2 2023-08-14 Fixed 3.80000000 N N N N N N Gilead Sciences, Inc. 549300WTZWR07K8MNV44 Gilead Sciences, Inc. 375558BW2 10000000.00000000 PA USD 10005860.00000000 0.335883630380 Long DBT CORP US N 2 2023-09-29 Fixed 0.75000000 N N N N N N Golub Capital Partners CLO Ltd. 254900VU8TXTV5P0H178 Golub Capital Partners CLO Ltd., Series 2017-34A, Class AR2 38172FAQ1 14000000.00000000 PA USD 14021136.74000000 0.470671217695 Long ABS-CBDO CORP KY N 2 2031-03-14 Floating 1.45000000 N N N N N N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 General Motors Financial Co., Inc. 37046TV27 10000000.00000000 PA USD 9999792.50000000 0.335679952343 Long DBT CORP US N 2 2021-08-02 Fixed 0.00000000 N N N N N N New York Life Global Funding 635400DPNHEAUHB7ZI15 New York Life Global Funding 64952WCZ4 6665000.00000000 PA USD 6665228.94000000 0.223743015961 Long DBT CORP US N 2 2021-08-06 Floating 0.49538000 N N N N N N Sumitomo Mitsui Financial Group, Inc. 35380028MYWPB6AUO129 Sumitomo Mitsui Financial Group, Inc. 86562MAJ9 10050000.00000000 PA USD 10074852.24000000 0.338199609620 Long DBT CORP JP N 2 2021-10-19 Floating 1.27388000 N N N N N N Engie SA LAXUQCHT4FH58LRZDY46 Engie SA 29287AW22 23000000.00000000 PA USD 22997067.50000000 0.771981470858 Long DBT CORP FR N 2 2021-09-02 Fixed 0.00000000 N N N N N N Synchrony Financial 549300RS7EWPM9MA6C78 Synchrony Financial 87165BAQ6 2566000.00000000 PA USD 2622678.06000000 0.088039871446 Long DBT CORP US N 2 2022-07-25 Fixed 2.85000000 N N N N N N Banco Santander S.A. 5493006QMFDDMYWIAM13 Banco Santander S.A. 05971KAK5 13600000.00000000 PA USD 13648467.41000000 0.458161195819 Long DBT CORP ES N 2 2024-06-30 Variable 0.70100000 N N N N N N Toyota Motor Credit Corp. Z2VZBHUMB7PWWJ63I008 Toyota Motor Credit Corp. 89236TFD2 12260000.00000000 PA USD 12296518.25000000 0.412778031158 Long DBT CORP US N 2 2022-05-17 Floating 0.55588000 N N N N N N Intercontinental Exchange, Inc. 5493000F4ZO33MV32P92 Intercontinental Exchange, Inc. 45866FAM6 4938000.00000000 PA USD 4971242.62000000 0.166878111297 Long DBT CORP US N 2 2023-06-15 Fixed 0.70000000 N N N N N N AbbVie, Inc. FR5LCKFTG8054YNNRU85 AbbVie, Inc. 00287YBK4 25000000.00000000 PA USD 25030698.50000000 0.840247803101 Long DBT CORP US N 2 2021-11-19 Floating 0.60963000 N N N N N N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 General Motors Financial Co., Inc. 37046TVR2 3000000.00000000 PA USD 2999174.49000000 0.100678364063 Long DBT CORP US N 2 2021-08-25 Fixed 0.00000000 N N N N N N Viatris, Inc. 254900ZZTSW7NL773X71 Viatris, Inc. 92557MVG7 13000000.00000000 PA USD 12997863.71000000 0.436321280740 Long DBT CORP US N 2 2021-08-16 Fixed 0.00000000 N N N N N N Molson Coors Beverage Co. 54930073LBBH6ZCBE225 Molson Coors Beverage Co. 60871VV40 26000000.00000000 PA USD 25999545.00000000 0.872770712646 Long DBT CORP US N 2 2021-08-04 Fixed 0.00000000 N N N N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546AC8 10000000.00000000 PA USD 10263642.60000000 0.344537055027 Long DBT CORP US N 2 2022-04-01 Fixed 4.30000000 N N N N N N Glencore Funding LLC 213800STG1QDNBY87K49 Glencore Funding LLC 37790AVL4 10000000.00000000 PA USD 9998605.80000000 0.335640116376 Long DBT CORP US N 2 2021-08-20 Fixed 0.00000000 N N N N N N FS KKR Capital Corp. N/A FS KKR Capital Corp., Series 2019-1A, Class A1R 302637AG8 9000000.00000000 PA USD 8999339.28000000 0.302096046555 Long ABS-CBDO CORP US N 2 2031-01-15 Floating 1.97613000 N N N N N N Volkswagen Group of America Finance LLC 5493002SQ1AVQBY41K40 Volkswagen Group of America Finance LLC 928668BD3 5091000.00000000 PA USD 5312341.36000000 0.178328349768 Long DBT CORP US N 2 2023-05-12 Fixed 3.12500000 N N N N N N Credit Suisse AG 549300D0YARF5HYP1809 Credit Suisse AG 22550L2E0 14000000.00000000 PA USD 13972856.66000000 0.469050518570 Long DBT CORP CH N 2 2024-02-02 Fixed 0.49500000 N N N N N N Visio Trust N/A Visio Trust, Series 2020-1R, Class A1 92837MAA5 7558650.55000000 PA USD 7610202.06000000 0.255464527371 Long ABS-MBS CORP US N 2 2055-11-25 Fixed 1.31200000 N N N N N N Volkswagen Group of America Finance LLC 5493002SQ1AVQBY41K40 Volkswagen Group of America Finance LLC 928668AZ5 6385000.00000000 PA USD 6552025.92000000 0.219942938673 Long DBT CORP US N 2 2022-09-26 Fixed 2.70000000 N N N N N N CBAM Ltd. 25490038OT2B8HTRW786 CBAM Ltd., Series 2018-5, Class A 12481QAC9 6250000.00000000 PA USD 6260312.25000000 0.210150492396 Long ABS-CBDO CORP KY N 2 2031-04-17 Floating 1.15388000 N N N N N N Deephaven Residential Mortgage Trust N/A Deephaven Residential Mortgage Trust, Series 2021-2, Class A1 24381WAA6 9616211.66000000 PA USD 9616338.59000000 0.322807906224 Long ABS-MBS CORP US N 2 2066-04-25 Variable 0.89900000 N N N N N N Hyundai Capital America 549300RIPPWJB5Z0FK07 Hyundai Capital America 44891ABM8 12730000.00000000 PA USD 12846723.53000000 0.431247702621 Long DBT CORP US N 2 2023-09-18 Fixed 1.25000000 N N N N N N Standard Chartered PLC U4LOSYZ7YG4W3S5F2G91 Standard Chartered PLC 853254BV1 3787000.00000000 PA USD 3821747.54000000 0.128291065249 Long DBT CORP GB N 2 2023-10-14 Variable 1.31900000 N N N N N N Enbridge, Inc. 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250NBD6 3571000.00000000 PA USD 3579166.70000000 0.120147943798 Long DBT CORP CA N 2 2023-02-17 Floating 0.43478000 N N N N N N NatWest Markets PLC RR3QWICWWIPCS8A4S074 NatWest Markets PLC 63906AAA8 17600000.00000000 PA USD 18275792.30000000 0.613494438839 Long DBT CORP GB N 2 2022-09-29 Fixed 3.62500000 N N N N N N 2021-08-30 Invesco Actively Managed Exchange-Traded Fund Trust Sheri Morris Sheri Morris Vice President XXXX NPORT-EX 2 edgar.htm
Schedule of Investments(a)
Invesco Active U.S. Real Estate ETF (PSR)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.96%
Apartments-9.57%
American Campus Communities, Inc.

  34,072   $1,714,162
AvalonBay Communities, Inc.

  7,576   1,726,040
Camden Property Trust

  11,956   1,786,107
Equity Residential

  20,511   1,725,590
Essex Property Trust, Inc.

  5,215   1,711,041
Mid-America Apartment Communities, Inc.

  9,306   1,796,989
UDR, Inc.

  32,444   1,784,096
        12,244,025
Data Centers-10.35%
CoreSite Realty Corp.

  24,536   3,391,120
CyrusOne, Inc.

  45,266   3,226,108
Digital Realty Trust, Inc.

  21,416   3,301,491
Equinix, Inc.

  4,051   3,323,481
        13,242,200
Diversified-1.57%
JBG SMITH Properties

  20,641   673,516
Washington REIT

  27,021   656,340
WP Carey, Inc.

  8,463   682,879
        2,012,735
Free Standing-5.04%
Agree Realty Corp.

  14,303   1,074,870
Essential Properties Realty Trust, Inc.

  37,258   1,110,288
Four Corners Property Trust, Inc.

  36,504   1,048,030
National Retail Properties, Inc.

  21,820   1,066,343
NETSTREIT Corp.

  41,767   1,083,854
Realty Income Corp.

  15,188   1,067,565
        6,450,950
Health Care-9.47%
CareTrust REIT, Inc.

  50,378   1,215,117
Healthcare Realty Trust, Inc.

  38,791   1,236,657
Healthcare Trust of America, Inc., Class A

  43,471   1,242,836
Healthpeak Properties, Inc.

  33,999   1,256,943
Medical Properties Trust, Inc.

  58,655   1,233,515
National Health Investors, Inc.

  17,737   1,210,196
Omega Healthcare Investors, Inc.

  31,978   1,160,162
Sabra Health Care REIT, Inc.

  64,827   1,205,134
Ventas, Inc.

  19,925   1,191,116
Welltower, Inc.

  13,480   1,170,873
        12,122,549
Industrial-12.50%
Americold Realty Trust

  44,554   1,730,923
Duke Realty Corp.

  34,823   1,771,794
EastGroup Properties, Inc.

  10,157   1,789,867
First Industrial Realty Trust, Inc.

  32,266   1,767,531
Prologis, Inc.

  13,818   1,769,257
PS Business Parks, Inc.

  11,208   1,722,333
Rexford Industrial Realty, Inc.

  29,725   1,828,682
STAG Industrial, Inc.

  44,237   1,827,873
Terreno Realty Corp.

  26,218   1,792,263
        16,000,523
Infrastructure REITs-19.66%
American Tower Corp.

  29,913   8,459,397
Crown Castle International Corp.

  41,688   8,049,536
SBA Communications Corp., Class A

  25,368   8,650,234
        25,159,167
Lodging Resorts-2.65%
Apple Hospitality REIT, Inc.

  23,376   349,471
  Shares   Value
Lodging Resorts-(continued)
Chatham Lodging Trust(b)

  28,062   $344,601
DiamondRock Hospitality Co.(b)

  37,078   319,242
Host Hotels & Resorts, Inc.(b)

  21,047   335,279
Pebblebrook Hotel Trust(c)

  15,193   341,691
RLJ Lodging Trust

  24,037   344,931
Ryman Hospitality Properties, Inc.(b)

  4,412   338,400
Summit Hotel Properties, Inc.(b)

  38,049   342,821
Sunstone Hotel Investors, Inc.(b)

  29,338   338,560
Xenia Hotels & Resorts, Inc.(b)

  19,129   338,201
        3,393,197
Manufactured Homes-4.21%
Equity LifeStyle Properties, Inc.

  21,571   1,807,650
Sun Communities, Inc.

  9,359   1,835,394
UMH Properties, Inc.

  75,208   1,750,842
        5,393,886
Office-4.56%
Alexandria Real Estate Equities, Inc.

  4,371   880,057
Columbia Property Trust, Inc.

  47,551   792,675
Corporate Office Properties Trust

  28,365   835,066
Cousins Properties, Inc.

  21,613   858,468
Douglas Emmett, Inc.

  24,275   810,785
Highwoods Properties, Inc.

  17,759   846,927
Kilroy Realty Corp.

  11,782   816,139
        5,840,117
Regional Malls-0.81%
Simon Property Group, Inc.

  8,206   1,038,223
Self Storage-7.03%
CubeSmart

  45,688   2,268,866
Extra Space Storage, Inc.

  12,830   2,234,216
Life Storage, Inc.

  19,449   2,282,535
Public Storage

  7,065   2,207,671
        8,993,288
Shopping Centers-4.12%
Federal Realty Investment Trust(c)

  8,843   1,039,318
Kimco Realty Corp.(c)

  48,894   1,042,909
Regency Centers Corp.

  16,006   1,046,953
Retail Opportunity Investments Corp.

  59,524   1,051,789
SITE Centers Corp.

  68,670   1,089,106
        5,270,075
Single Family Homes-2.70%
American Homes 4 Rent, Class A

  41,071   1,724,982
Invitation Homes, Inc.

  42,607   1,733,253
        3,458,235
Specialty-2.97%
Gaming and Leisure Properties, Inc.

  26,860   1,271,552
Lamar Advertising Co., Class A

  11,934   1,272,165
VICI Properties, Inc.(c)

  40,106   1,250,906
        3,794,623
Timber REITs-2.75%
PotlatchDeltic Corp.

  22,348   1,160,755
Rayonier, Inc.

  31,764   1,197,820
Weyerhaeuser Co.

  34,501   1,163,719
        3,522,294
Total Common Stocks & Other Equity Interests

(Cost $109,871,396)

  127,936,087
See accompanying notes which are an integral part of this schedule.

Invesco Active U.S. Real Estate ETF (PSR)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Money Market Funds-0.01%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $10,676)

  10,676   $10,676
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.97%

(Cost $109,882,072)

  127,946,763
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-2.88%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  1,104,616   1,104,616
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  2,576,406   $2,577,437
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $3,682,053)

  3,682,053
TOTAL INVESTMENTS IN SECURITIES-102.85%

(Cost $113,564,125)

  131,628,816
OTHER ASSETS LESS LIABILITIES-(2.85)%

  (3,645,366)
NET ASSETS-100.00%

  $127,983,450
 
Investment Abbreviations:
REIT -Real Estate Investment Trust
    
Notes to Schedule of Investments:
(a) Property type classifications used in this report are generally according to FTSE National Association of Real Estate Investment Trusts ("NAREIT") Equity REITs Index, which is exclusively owned by NAREIT.
(b) Non-income producing security.
(c) All or a portion of this security was out on loan at July 31, 2021.
(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 nine months ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $185   $2,138,840   $(2,128,349)   $-   $-   $10,676   $20
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 197,061   9,158,569   (8,251,014)   -   -   1,104,616   48*
Invesco Private Prime Fund 295,591   14,830,353   (12,548,507)   -   -   2,577,437   761*
Total $492,837   $26,127,762   $(22,927,870)   $-   $-   $3,692,729   $829
    
* 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, 2021.
(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
Invesco Balanced Multi-Asset Allocation ETF (PSMB)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 109.02%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Domestic Equity Funds-46.60%
Invesco Preferred ETF(b)

1.97%   $232,732   $327,999   $(191,353)   $8,836   $1,531   $10,353   24,934   $379,745
Invesco RAFI™ Strategic US ETF

8.52%   712,438   1,128,191   (500,539)   229,313   70,873   12,140   43,428   1,640,276
Invesco RAFI™ Strategic US Small Company ETF

5.61%   631,196   904,423   (814,602)   250,393   108,410   4,425   28,040   1,079,820
Invesco Russell 1000 Dynamic Multifactor ETF

7.66%   769,193   1,123,950   (750,713)   173,037   159,235   9,352   31,504   1,474,702
Invesco S&P 500® Low Volatility ETF

4.46%   477,427   720,492   (460,487)   69,135   51,995   7,658   13,615   858,562
Invesco S&P 500® Pure Growth ETF(b)

8.84%   728,660   1,213,712   (589,273)   245,062   103,090   771   8,787   1,701,251
Invesco S&P MidCap Low Volatility ETF

5.00%   321,895   639,825   (99,895)   93,941   7,726   4,180   17,627   963,492
Invesco S&P SmallCap Low Volatility ETF(b)

4.54%   284,947   600,390   (115,502)   95,581   8,318   4,615   18,480   873,734
Total Domestic Equity Funds

    4,158,488   6,658,982   (3,522,364)   1,165,298   511,178   53,494       8,971,582
Fixed Income Funds-37.55%
Invesco 1-30 Laddered Treasury ETF

6.94%   500,119   954,415   (129,806)   15,549   (4,276)   5,953   35,943   1,336,001
Invesco Emerging Markets Sovereign Debt ETF

0.98%   -   191,634   (3,199)   1,263   10   1,878   6,866   189,708
Invesco Fundamental High Yield® Corporate Bond ETF

2.95%   183,961   411,576   (37,888)   8,988   2,057   7,775   29,119   568,694
Invesco Investment Grade Defensive ETF

1.98%   649,440   697,590   (953,141)   (5,362)   452   5,208   14,190   380,576
Invesco Investment Grade Value ETF

0.99%   352,301   384,150   (536,957)   (562)   (3,222)   4,533   6,827   190,473
Invesco PureBetaSM 0-5 Yr US TIPS ETF

3.97%   210,948   581,954   (45,876)   16,466   862   4,608   28,442   764,234
Invesco Senior Loan ETF(b)

3.44%   -   671,896   (6,705)   (3,716)   20   4,118   30,027   661,495
Invesco Taxable Municipal Bond ETF

12.36%   424,940   2,024,237   (139,756)   68,451   1,856   19,549   70,699   2,379,728
Invesco Variable Rate Investment Grade ETF

3.94%   804,047   922,807   (974,941)   (4,361)   11,447   4,039   30,239   758,999
Total Fixed Income Funds

    3,125,756   6,840,259   (2,828,269)   96,716   9,206   57,661       7,229,908
Foreign Equity Funds-15.84%
Invesco RAFI™ Strategic Developed ex-US ETF

5.52%   326,284   752,159   (144,017)   106,245   21,794   9,644   34,384   1,062,465
Invesco RAFI™ Strategic Emerging Markets ETF(b)

2.88%   163,452   440,552   (70,359)   16,995   4,097   5,346   19,415   554,737
Invesco S&P Emerging Markets Low Volatility ETF

2.94%   -   584,452   (7,220)   (11,581)   163   4,005   23,500   565,814
Invesco S&P International Developed Low Volatility ETF

4.50%   383,524   597,010   (179,938)   67,705   (1,294)   9,841   27,359   867,007
Total Foreign Equity Funds

    873,260   2,374,173   (401,534)   179,364   24,760   28,836       3,050,023
Money Market Funds-0.01%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(c)

0.01%   -   110,538   (109,393)   -   -   1   1,145   1,145
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

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

(Cost $17,650,335)

100.00%   8,157,504   15,983,952   (6,861,560)   1,441,378   545,144   139,992       19,252,658
See accompanying notes which are an integral part of this schedule.

Invesco Balanced Multi-Asset Allocation ETF (PSMB)—(continued)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 109.02%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Investments Purchased with Cash Collateral from Securities on Loan                                  
Money Market Funds-9.02%
Invesco Private Government Fund, 0.02%(c)(d)

2.71%   $157,691   $7,648,501   $(7,285,100)   $-   $-   $37*   521,092   $521,092
Invesco Private Prime Fund, 0.12%(c)(d)

6.31%   236,537   11,987,037   (11,007,732)   -   40   434*   1,215,396   1,215,882
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,736,974)

9.02%   394,228   19,635,538   (18,292,832)   -   40   471       1,736,974
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

(Cost $19,387,309)

109.02%   $8,551,732   $35,619,490   $(25,154,392)   $1,441,378   $545,184(e)   $140,463       $20,989,632
OTHER ASSETS LESS LIABILITIES

(9.02)%                               (1,736,083)
NET ASSETS

100.00%                               $19,253,549
    
Investment Abbreviations:
ETF- Exchange-Traded Fund
    
Notes to Schedule of Investments:
(a) Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.
(b) All or a portion of this security was out on loan at July 31, 2021.
(c) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(d) 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.  
(e) Includes capital gains distributions from affiliated underlying funds as follows:
    
Fund Name Capital Gain
Invesco Investment Grade Defensive ETF $8,403
Invesco Investment Grade Value ETF 5,237
Invesco PureBetaSM 0-5 Yr US TIPS ETF 120
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments
Invesco Conservative Multi-Asset Allocation ETF (PSMC)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 115.03%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Domestic Equity Funds-19.34%
Invesco Preferred ETF(b)

3.98%   $470,471   $1,456,330   $(1,511,225)   $(4,619)   $19,884   $21,754   28,289   $430,841
Invesco RAFI™ Strategic US ETF(b)

4.54%   367,255   1,231,576   (1,253,245)   12,901   134,072   5,148   13,041   492,559
Invesco RAFI™ Strategic US Small Company ETF

1.54%   -   175,923   (14,926)   5,442   656   196   4,339   167,095
Invesco Russell 1000 Dynamic Multifactor ETF

3.09%   338,079   1,108,234   (1,258,859)   (5,508)   152,699   3,493   7,149   334,645
Invesco S&P 500® Low Volatility ETF

1.50%   184,602   611,364   (676,953)   (1,968)   45,335   2,986   2,575   162,380
Invesco S&P 500® Pure Growth ETF(b)

3.67%   440,954   1,485,040   (1,669,996)   1,477   140,006   476   2,053   397,481
Invesco S&P SmallCap Low Volatility ETF(b)

1.02%   -   118,495   (10,867)   2,288   246   257   2,330   110,162
Total Domestic Equity Funds

    1,801,361   6,186,962   (6,396,071)   10,013   492,898   34,310       2,095,163
Fixed Income Funds-75.65%
Invesco 1-30 Laddered Treasury ETF

8.99%   270,688   1,483,470   (801,899)   20,700   1,378   4,546   26,213   974,337
Invesco Emerging Markets Sovereign Debt ETF

1.49%   589,654   1,797,130   (2,257,213)   22,398   9,418   21,360   5,841   161,387
Invesco Fundamental High Yield® Corporate Bond ETF(b)

11.91%   597,421   2,295,355   (1,631,046)   22,393   6,361   25,787   66,077   1,290,484
Invesco Investment Grade Defensive ETF

3.99%   1,001,746   2,960,434   (3,510,043)   (10,445)   4,047   9,665   16,101   431,829
Invesco Investment Grade Value ETF

2.00%   537,036   1,614,121   (1,921,604)   (5,466)   653   8,443   7,748   216,168
Invesco PureBetaSM 0-5 Yr US TIPS ETF

6.00%   352,318   1,222,315   (946,149)   3,026   19,037   5,480   24,203   650,332
Invesco Senior Loan ETF(b)

7.92%   481,192   1,657,632   (1,284,432)   3,976   (630)   17,252   38,935   857,738
Invesco Taxable Municipal Bond ETF

17.95%   664,899   3,134,978   (1,919,111)   52,031   11,102   24,699   57,751   1,943,899
Invesco Variable Rate Investment Grade ETF(b)

15.40%   1,256,515   3,818,145   (3,417,270)   (3,585)   14,642   9,199   66,472   1,668,447
Total Fixed Income Funds

    5,751,469   19,983,580   (17,688,767)   105,028   66,008   126,431       8,194,621
Foreign Equity Funds-5.01%
Invesco RAFI™ Strategic Developed ex-US ETF

2.02%   73,852   358,265   (245,332)   5,755   26,634   2,058   7,093   219,174
Invesco RAFI™ Strategic Emerging Markets ETF(b)

0.97%   -   120,624   (11,353)   (4,514)   133   804   3,671   104,890
Invesco S&P International Developed Low Volatility ETF

2.02%   75,707   350,019   (223,843)   8,904   7,779   2,189   6,897   218,566
Total Foreign Equity Funds

    149,559   828,908   (480,528)   10,145   34,546   5,051       542,630
Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(c)

-   -   173,504   (173,385)   -   -   1   119   119
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

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

(Cost $10,646,431)

100.00%   7,702,389   27,172,954   (24,738,751)   125,186   593,452   165,793       10,832,533
See accompanying notes which are an integral part of this schedule.

Invesco Conservative Multi-Asset Allocation ETF (PSMC)—(continued)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 115.03%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Investments Purchased with Cash Collateral from Securities on Loan                                  
Money Market Funds-15.03%
Invesco Private Government Fund, 0.02%(c)(d)

4.51%   $431,211   $10,659,900   $(10,602,676)   $-   $-   $40*   488,435   $488,435
Invesco Private Prime Fund, 0.12%(c)(d)

10.52%   697,313   15,722,303   (15,279,981)   -   47   483*   1,139,227   1,139,682
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,628,117)

15.03%   1,128,524   26,382,203   (25,882,657)   -   47   523       1,628,117
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

(Cost $12,274,548)

115.03%   $8,830,913   $53,555,157   $(50,621,408)   $125,186   $593,499(e)   $166,316       $12,460,650
OTHER ASSETS LESS LIABILITIES

(15.03)%                               (1,627,680)
NET ASSETS

100.00%                               $10,832,970
    
Investment Abbreviations:
ETF- Exchange-Traded Fund
    
Notes to Schedule of Investments:
(a) Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.
(b) All or a portion of this security was out on loan at July 31, 2021.
(c) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(d) 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.  
(e) Includes capital gains distributions from affiliated underlying funds as follows:
    
Fund Name Capital Gain
Invesco Investment Grade Defensive ETF $13,910
Invesco Investment Grade Value ETF 8,572
Invesco PureBetaSM 0-5 Yr US TIPS ETF 215
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments
Invesco Growth Multi-Asset Allocation ETF (PSMG)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 106.13%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Domestic Equity Funds-57.60%
Invesco RAFI™ Strategic US ETF(b)

10.98%   $632,353   $1,205,499   $(286,267)   $291,378   $35,566   $14,252   49,736   $1,878,529
Invesco RAFI™ Strategic US Small Company ETF

7.11%   548,076   980,169   (694,014)   310,409   71,622   5,089   31,583   1,216,262
Invesco Russell 1000 Dynamic Multifactor ETF

9.67%   703,022   1,232,575   (649,006)   197,306   169,292   11,147   35,317   1,653,189
Invesco S&P 500® Low Volatility ETF

5.92%   442,203   827,668   (396,136)   103,666   35,973   9,293   16,070   1,013,374
Invesco S&P 500® Pure Growth ETF(b)

11.91%   632,619   1,340,431   (322,818)   391,939   (4,426)   900   10,525   2,037,745
Invesco S&P MidCap Low Volatility ETF

5.98%   279,494   666,446   (29,323)   107,859   (1,077)   4,666   18,723   1,023,399
Invesco S&P SmallCap Low Volatility ETF(b)

6.03%   311,008   647,994   (62,379)   144,646   (10,376)   6,218   21,804   1,030,893
Total Domestic Equity Funds

    3,548,775   6,900,782   (2,439,943)   1,547,203   296,574   51,565       9,853,391
Fixed Income Funds-19.70%
Invesco 1-30 Laddered Treasury ETF

5.92%   115,812   899,413   (30,083)   30,908   (2,647)   3,500   27,264   1,013,403
Invesco Fundamental High Yield® Corporate Bond ETF

0.98%   -   167,750   (700)   734   (2)   1,246   8,591   167,782
Invesco Investment Grade Defensive ETF

0.98%   380,835   508,901   (710,191)   (4,499)   (35)   3,653   6,280   168,430
Invesco Investment Grade Value ETF

0.99%   203,928   301,438   (330,156)   770   (3,303)   3,525   6,044   168,627
Invesco PureBetaSM 0-5 Yr US TIPS ETF

1.98%   117,216   224,393   (12,957)   9,547   101   2,552   12,587   338,211
Invesco Senior Loan ETF(b)

1.96%   -   337,787   (1,263)   (1,974)   (2)   2,204   15,186   334,548
Invesco Taxable Municipal Bond ETF

4.93%   231,528   606,663   (20,743)   25,343   (349)   9,341   25,028   842,442
Invesco Variable Rate Investment Grade ETF

1.96%   117,583   226,588   (9,941)   1,644   (11)   862   13,381   335,863
Total Fixed Income Funds

    1,166,902   3,272,933   (1,116,034)   62,473   (6,248)   26,883       3,369,306
Foreign Equity Funds-22.69%
Invesco RAFI™ Strategic Developed ex-US ETF

7.49%   315,104   891,004   (72,135)   149,287   (1,003)   12,127   41,497   1,282,257
Invesco RAFI™ Strategic Emerging Markets ETF

3.83%   113,530   564,557   (31,767)   8,519   (269)   6,168   22,909   654,570
Invesco S&P Emerging Markets Low Volatility ETF

4.39%   86,129   661,806   (6,103)   9,621   (220)   6,891   31,201   751,233
Invesco S&P International Developed Low Volatility ETF

6.98%   385,443   752,754   (26,900)   85,494   (3,219)   13,495   37,664   1,193,572
Total Foreign Equity Funds

    900,206   2,870,121   (136,905)   252,921   (4,711)   38,681       3,881,632
Money Market Funds-0.01%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(c)

0.01%   -   82,307   (80,679)   -   -   -   1,628   1,628
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

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

(Cost $15,293,192)

100.00%   5,615,883   13,126,143   (3,773,561)   1,862,597   285,615   117,129       17,105,957
See accompanying notes which are an integral part of this schedule.

Invesco Growth Multi-Asset Allocation ETF (PSMG)—(continued)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 106.13%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Investments Purchased with Cash Collateral from Securities on Loan                                  
Money Market Funds-6.13%
Invesco Private Government Fund, 0.02%(c)(d)

1.84%   $87,858   $5,869,608   $(5,642,861)   $-   $-   $33*   314,605   $314,605
Invesco Private Prime Fund, 0.12%(c)(d)

4.29%   131,787   9,580,175   (8,977,933)   -   49   383*   733,784   734,078
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,048,683)

6.13%   219,645   15,449,783   (14,620,794)   -   49   416       1,048,683
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

(Cost $16,341,875)

106.13%   $5,835,528   $28,575,926   $(18,394,355)   $1,862,597   $285,664(e)   $117,545       $18,154,640
OTHER ASSETS LESS LIABILITIES

(6.13)%                               (1,048,062)
NET ASSETS

100.00%                               $17,106,578
    
Investment Abbreviations:
ETF- Exchange-Traded Fund
    
Notes to Schedule of Investments:
(a) Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.
(b) All or a portion of this security was out on loan at July 31, 2021.
(c) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(d) 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.  
(e) Includes capital gains distributions from affiliated underlying funds as follows:
    
Fund Name Capital Gain
Invesco Investment Grade Defensive ETF $6,581
Invesco Investment Grade Value ETF 4,050
Invesco PureBetaSM 0-5 Yr US TIPS ETF 89
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco High Yield Bond Factor ETF (IHYF)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Dollar Denominated Bonds & Notes-97.81%
Advertising-0.59%
Advantage Sales & Marketing, Inc., 6.50%, 11/15/2028(b)

$ 118,000   $122,425
MDC Partners, Inc., 7.50%, 05/01/2024(b)(c)

  117,000   119,521
        241,946
Aerospace & Defense-1.90%
Bombardier, Inc. (Canada)        
7.50%, 03/15/2025(b)

  60,000   61,299
7.88%, 04/15/2027(b)(d)

  46,000   47,727
Howmet Aerospace, Inc., 6.88%, 05/01/2025

  115,000   133,971
Rolls-Royce PLC (United Kingdom), 5.75%, 10/15/2027(b)

  200,000   218,750
Spirit AeroSystems, Inc., 7.50%, 04/15/2025(b)

  164,000   174,250
Triumph Group, Inc., 8.88%, 06/01/2024(b)

  131,000   145,247
        781,244
Agricultural Products-0.43%
JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 6.50%, 04/15/2029(b)(d)

  159,000   178,427
Airlines-0.81%
American Airlines Pass-Through Trust, Series 2014-1, Class A, 3.70%, 10/01/2026

  33,199   33,847
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/2029(b)

  37,000   39,967
Delta Air Lines, Inc.        
3.80%, 04/19/2023

  42,000   43,363
2.90%, 10/28/2024(d)

  211,000   214,018
        331,195
Alternative Carriers-1.31%
Lumen Technologies, Inc.        
Series P, 7.60%, 09/15/2039

  177,000   201,969
Series U, 7.65%, 03/15/2042

  75,000   85,006
Series Y, 7.50%, 04/01/2024

  140,000   157,645
Qwest Corp., 7.25%, 09/15/2025

  77,000   91,245
        535,865
Apparel, Accessories & Luxury Goods-0.60%
G-III Apparel Group Ltd., 7.88%, 08/15/2025(b)

  88,000   95,908
Hanesbrands, Inc., 4.63%, 05/15/2024(b)

  143,000   151,653
        247,561
Application Software-0.46%
Open Text Corp. (Canada), 5.88%, 06/01/2026(b)

  182,000   188,161
Auto Parts & Equipment-1.40%
Clarios Global L.P./Clarios US Finance Co., 8.50%, 05/15/2027(b)

  25,000   27,031
IHO Verwaltungs GmbH (Germany), 6.38% 7.13% PIK Rate, 6.38% Cash Rate, 05/15/2029(b)(e)

  200,000   217,575
Tenneco, Inc.        
7.88%, 01/15/2029(b)

  238,000   269,809
5.13%, 04/15/2029(b)

  60,000   61,800
        576,215
Automobile Manufacturers-2.98%
Ford Motor Co.        
8.90%, 01/15/2032

  114,000   157,952
9.98%, 02/15/2047

  100,000   155,830
  Principal
Amount
  Value
Automobile Manufacturers-(continued)
Ford Motor Credit Co. LLC        
3.37%, 11/17/2023

$ 200,000   $207,500
5.58%, 03/18/2024

  202,000   220,392
3.66%, 09/08/2024

  200,000   209,264
PM General Purchaser LLC, 9.50%, 10/01/2028(b)

  123,000   129,322
Winnebago Industries, Inc., 6.25%, 07/15/2028(b)

  134,000   144,528
        1,224,788
Automotive Retail-0.11%
AAG FH L.P./AAG FH Finco, Inc. (Canada), 9.75%, 07/15/2024(b)

  45,000   44,777
Biotechnology-0.20%
Emergent BioSolutions, Inc., 3.88%, 08/15/2028(b)

  84,000   83,654
Broadcasting-2.40%
AMC Networks, Inc.        
5.00%, 04/01/2024

  55,000   55,998
4.25%, 02/15/2029

  218,000   218,280
iHeartCommunications, Inc., 8.38%, 05/01/2027

  25,000   26,625
Liberty Interactive LLC        
8.50%, 07/15/2029

  155,000   178,273
8.25%, 02/01/2030

  79,000   90,416
Sinclair Television Group, Inc., 4.13%, 12/01/2030(b)

  83,000   80,520
TEGNA, Inc., 5.00%, 09/15/2029

  134,000   140,225
Urban One, Inc., 7.38%, 02/01/2028(b)

  67,000   71,783
Videotron Ltd. (Canada), 5.38%, 06/15/2024(b)

  113,000   124,922
        987,042
Building Products-1.37%
North Queensland Export Terminal Pty. Ltd. (Australia), 4.45%, 12/15/2022(b)

  200,000   191,386
SRM Escrow Issuer LLC, 6.00%, 11/01/2028(b)

  195,000   208,428
Standard Industries, Inc., 5.00%, 02/15/2027(b)

  156,000   161,070
        560,884
Cable & Satellite-3.67%
Altice Financing S.A. (Luxembourg), 7.50%, 05/15/2026(b)

  200,000   208,336
CSC Holdings LLC, 6.50%, 02/01/2029(b)

  200,000   221,167
DISH DBS Corp., 7.38%, 07/01/2028(d)

  176,000   190,638
Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, 09/15/2028(b)

  40,000   41,618
Sirius XM Radio, Inc., 4.63%, 07/15/2024(b)

  183,000   187,575
Telenet Finance Luxembourg Notes S.a r.l. (Belgium), 5.50%, 03/01/2028(b)

  200,000   211,040
Telesat Canada/Telesat LLC (Canada)        
5.63%, 12/06/2026(b)

  180,000   167,175
4.88%, 06/01/2027(b)

  137,000   123,060
Ziggo B.V. (Netherlands), 5.50%, 01/15/2027(b)

  150,000   155,860
        1,506,469
Casinos & Gaming-3.98%
Affinity Gaming, 6.88%, 12/15/2027(b)

  187,000   198,758
Caesars Entertainment, Inc., 8.13%, 07/01/2027(b)(d)

  44,000   48,443
Caesars Resort Collection LLC/CRC Finco, Inc., 5.25%, 10/15/2025(b)

  27,000   27,254
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Casinos & Gaming-(continued)
International Game Technology PLC, 6.50%, 02/15/2025(b)

$ 200,000   $223,420
Melco Resorts Finance Ltd. (Hong Kong)        
5.75%, 07/21/2028(b)

  200,000   207,644
5.38%, 12/04/2029(b)

  200,000   207,125
MGM Resorts International, 6.75%, 05/01/2025

  168,000   178,500
Sabre GLBL, Inc., 9.25%, 04/15/2025(b)

  121,000   142,089
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.        
4.25%, 05/30/2023(b)

  197,000   202,171
5.50%, 03/01/2025(b)

  189,000   200,104
        1,635,508
Commodity Chemicals-0.92%
Methanex Corp. (Canada)        
5.13%, 10/15/2027

  190,000   206,267
5.25%, 12/15/2029(d)

  153,000   169,417
        375,684
Communications Equipment-0.34%
Plantronics, Inc., 4.75%, 03/01/2029(b)(d)

  145,000   141,556
Computer & Electronics Retail-0.37%
Dell International LLC/EMC Corp., 7.13%, 06/15/2024(b)

  150,000   153,659
Construction & Engineering-1.12%
Dycom Industries, Inc., 4.50%, 04/15/2029(b)

  63,000   63,869
Fluor Corp., 4.25%, 09/15/2028

  200,000   206,625
Michael Baker International LLC, 8.75%, 03/01/2023

  42,000   42,420
New Enterprise Stone & Lime Co., Inc., 6.25%, 03/15/2026(b)

  143,000   146,993
        459,907
Construction Machinery & Heavy Trucks-0.37%
Manitowoc Co., Inc. (The), 9.00%, 04/01/2026(b)

  40,000   43,310
Trinity Industries, Inc., 4.55%, 10/01/2024

  100,000   106,593
        149,903
Construction Materials-0.38%
Summit Materials LLC/Summit Materials Finance Corp., 5.13%, 06/01/2025(b)

  155,000   156,874
Consumer Finance-3.44%
ASG Finance Designated Activity Co. (Cyprus), 7.88%, 12/03/2024(b)

  200,000   194,500
Credit Acceptance Corp., 5.13%, 12/31/2024(b)

  80,000   82,951
Ford Holdings LLC, 9.30%, 03/01/2030

  125,000   171,875
goeasy Ltd. (Canada), 5.38%, 12/01/2024(b)

  129,000   134,283
Navient Corp.        
6.13%, 03/25/2024

  163,000   177,071
5.88%, 10/25/2024

  77,000   83,932
5.00%, 03/15/2027

  153,000   159,320
5.63%, 08/01/2033

  62,000   60,301
OneMain Finance Corp., 6.13%, 03/15/2024

  181,000   195,027
PRA Group, Inc., 7.38%, 09/01/2025(b)

  140,000   151,367
        1,410,627
Copper-0.40%
Freeport-McMoRan, Inc., 4.55%, 11/14/2024

  151,000   164,588
Department Stores-1.10%
Macy’s Retail Holdings LLC, 3.63%, 06/01/2024

  172,000   176,942
  Principal
Amount
  Value
Department Stores-(continued)
Nordstrom, Inc.        
4.38%, 04/01/2030

$ 94,000   $99,200
5.00%, 01/15/2044

  177,000   176,495
        452,637
Diversified Banks-1.62%
Commerzbank AG (Germany), 8.13%, 09/19/2023(b)

  200,000   227,164
Intesa Sanpaolo S.p.A. (Italy), 5.02%, 06/26/2024(b)

  200,000   217,068
UniCredit S.p.A. (Italy), 5.46%, 06/30/2035(b)(f)

  200,000   220,984
        665,216
Diversified Capital Markets-0.93%
Deutsche Bank AG (Germany), 4.30%, 05/24/2028(f)

  370,000   383,263
Diversified Chemicals-0.37%
NOVA Chemicals Corp. (Canada), 4.25%, 05/15/2029(b)(d)

  150,000   151,996
Diversified Metals & Mining-0.63%
FMG Resources August 2006 Pty. Ltd. (Australia), 5.13%, 05/15/2024(b)

  153,000   165,699
Mineral Resources Ltd. (Australia), 8.13%, 05/01/2027(b)

  86,000   94,295
        259,994
Diversified REITs-1.89%
iStar, Inc., 4.75%, 10/01/2024

  139,000   147,578
MGM Growth Properties Operating Partnership L.P./MGP Finance Co-Issuer, Inc., 5.63%, 05/01/2024

  226,000   244,908
Uniti Group L.P./Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.88%, 02/15/2025(b)

  210,000   223,969
VICI Properties L.P./VICI Note Co., Inc., 3.50%, 02/15/2025(b)

  157,000   160,235
        776,690
Diversified Support Services-0.92%
MPH Acquisition Holdings LLC, 5.75%, 11/01/2028(b)

  208,000   202,035
Prime Security Services Borrower LLC/Prime Finance, Inc., 5.25%, 04/15/2024(b)

  117,000   125,190
Ritchie Bros. Auctioneers, Inc. (Canada), 5.38%, 01/15/2025(b)

  49,000   50,250
        377,475
Drug Retail-0.15%
Rite Aid Corp., 8.00%, 11/15/2026(b)

  60,000   60,308
Electric Utilities-1.65%
Drax Finco PLC (United Kingdom), 6.63%, 11/01/2025(b)

  200,000   206,250
InterGen N.V. (Netherlands), 7.00%, 06/30/2023(b)

  200,000   198,733
Midland Cogeneration Venture L.P., 6.00%, 03/15/2025(b)

  107,152   110,744
Talen Energy Supply LLC, 7.25%, 05/15/2027(b)

  179,000   163,531
        679,258
 
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Electrical Components & Equipment-0.61%
Sensata Technologies B.V.        
4.88%, 10/15/2023(b)

$ 125,000   $134,125
5.63%, 11/01/2024(b)

  106,000   118,247
        252,372
Electronic Components-0.92%
Brightstar Escrow Corp., 9.75%, 10/15/2025(b)

  141,000   151,099
Imola Merger Corp., 4.75%, 05/15/2029(b)

  221,000   228,400
        379,499
Environmental & Facilities Services-1.15%
GFL Environmental, Inc. (Canada), 4.25%, 06/01/2025(b)

  267,000   277,680
Stericycle, Inc., 5.38%, 07/15/2024(b)

  187,000   192,716
        470,396
Fertilizers & Agricultural Chemicals-0.56%
CVR Partners L.P./CVR Nitrogen Finance Corp., 9.25%, 06/15/2023(b)

  23,000   23,147
OCI N.V. (Netherlands), 5.25%, 11/01/2024(b)

  200,000   205,958
        229,105
Food Distributors-0.54%
C&S Group Enterprises LLC, 5.00%, 12/15/2028(b)

  224,000   222,600
Footwear-0.40%
Abercrombie & Fitch Management Co., 8.75%, 07/15/2025(b)

  147,000   162,439
Gas Utilities-0.33%
AmeriGas Partners L.P./AmeriGas Finance Corp., 5.63%, 05/20/2024

  122,000   133,455
Health Care Distributors-0.20%
Owens & Minor, Inc., 4.38%, 12/15/2024(d)

  78,000   82,208
Health Care Equipment-0.29%
Varex Imaging Corp., 7.88%, 10/15/2027(b)

  108,000   120,855
Health Care Facilities-1.60%
HCA, Inc., 5.38%, 02/01/2025

  198,000   224,661
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/2026(b)

  26,000   27,663
Tenet Healthcare Corp.        
6.75%, 06/15/2023

  38,000   41,277
4.63%, 07/15/2024

  142,000   144,128
4.63%, 09/01/2024(b)

  121,000   123,874
6.13%, 10/01/2028(b)

  89,000   94,900
        656,503
Health Care REITs-0.23%
Diversified Healthcare Trust, 4.75%, 05/01/2024

  92,000   95,306
Health Care Services-1.22%
Akumin, Inc., 7.00%, 11/01/2025(b)(d)

  155,000   158,294
Community Health Systems, Inc.        
8.00%, 12/15/2027(b)

  145,000   160,712
6.88%, 04/15/2029(b)

  26,000   27,452
6.13%, 04/01/2030(b)

  36,000   36,517
Global Medical Response, Inc., 6.50%, 10/01/2025(b)

  112,000   116,340
        499,315
  Principal
Amount
  Value
Home Improvement Retail-0.30%
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/2026(b)

$ 117,000   $123,143
Homebuilding-0.74%
Lennar Corp., 4.88%, 12/15/2023

  67,000   72,867
New Home Co., Inc. (The), 7.25%, 10/15/2025(b)

  80,000   85,326
TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 5.88%, 06/15/2024

  133,000   147,546
        305,739
Homefurnishing Retail-0.24%
Bed Bath & Beyond, Inc., 3.75%, 08/01/2024

  97,000   100,266
Hotel & Resort REITs-1.05%
Service Properties Trust        
4.50%, 06/15/2023

  31,000   31,736
4.65%, 03/15/2024(d)

  108,000   110,237
4.35%, 10/01/2024

  138,000   139,738
4.75%, 10/01/2026

  150,000   147,634
        429,345
Hotels, Resorts & Cruise Lines-2.23%
Carnival Corp.        
10.50%, 02/01/2026(b)

  87,000   99,723
9.88%, 08/01/2027(b)

  103,000   118,187
Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 6.13%, 12/01/2024

  90,000   94,083
Royal Caribbean Cruises Ltd.        
9.13%, 06/15/2023(b)

  111,000   120,928
11.50%, 06/01/2025(b)

  190,000   217,787
Travel + Leisure Co.        
5.65%, 04/01/2024

  95,000   101,888
6.60%, 10/01/2025

  144,000   161,787
        914,383
Independent Power Producers & Energy Traders-0.66%
EnfraGen Energia Sur S.A./EnfraGen Spain S.A./Prime Energia S.p.A. (Spain), 5.38%, 12/30/2030(b)

  270,000   269,986
Industrial Conglomerates-0.51%
Icahn Enterprises L.P./Icahn Enterprises Finance Corp.        
6.75%, 02/01/2024

  42,000   43,035
4.75%, 09/15/2024

  161,000   167,999
        211,034
Industrial Machinery-0.56%
Amsted Industries, Inc., 4.63%, 05/15/2030(b)

  77,000   79,406
JPW Industries Holding Corp., 9.00%, 10/01/2024(b)

  65,000   68,378
TriMas Corp., 4.13%, 04/15/2029(b)

  81,000   82,398
        230,182
Insurance Brokers-0.19%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/2027(b)

  50,000   52,253
HUB International Ltd., 7.00%, 05/01/2026(b)

  26,000   26,949
        79,202
Integrated Oil & Gas-1.53%
Cenovus Energy, Inc. (Canada), 3.80%, 09/15/2023

  50,000   52,697
 
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Integrated Oil & Gas-(continued)
Occidental Petroleum Corp.        
6.95%, 07/01/2024

$ 110,000   $122,382
8.88%, 07/15/2030

  334,000   451,152
        626,231
Integrated Telecommunication Services-2.84%
CommScope, Inc., 5.50%, 03/01/2024(b)

  219,000   225,535
Connect Finco S.a.r.l./Connect US Finco LLC (United Kingdom), 6.75%, 10/01/2026(b)

  200,000   210,500
Embarq Corp., 8.00%, 06/01/2036

  217,000   243,382
Ligado Networks LLC, 15.50% 15.50% PIK Rate, 0.00% Cash Rate, 11/01/2023(b)(e)

  29,186   28,723
Telecom Italia S.p.A. (Italy), 5.30%, 05/30/2024(b)

  200,000   217,131
T-Mobile USA, Inc., 2.25%, 02/15/2026

  40,000   40,505
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/2028(b)(d)

  198,000   202,242
        1,168,018
Interactive Media & Services-1.03%
Audacy Capital Corp.        
6.50%, 05/01/2027(b)

  79,000   81,668
6.75%, 03/31/2029(b)(d)

  150,000   153,179
Cumulus Media New Holdings, Inc., 6.75%, 07/01/2026(b)(d)

  74,000   78,169
Diamond Sports Group LLC/Diamond Sports Finance Co., 5.38%, 08/15/2026(b)

  191,000   111,019
        424,035
Internet & Direct Marketing Retail-0.29%
QVC, Inc., 4.85%, 04/01/2024

  108,000   117,232
Investment Banking & Brokerage-0.25%
FS Energy and Power Fund, 7.50%, 08/15/2023(b)

  47,000   48,909
NFP Corp., 6.88%, 08/15/2028(b)

  25,000   25,948
StoneX Group, Inc., 8.63%, 06/15/2025(b)

  26,000   28,273
        103,130
IT Consulting & Other Services-0.22%
Dell, Inc., 6.50%, 04/15/2038

  69,000   91,166
Leisure Facilities-0.78%
NCL Corp. Ltd., 12.25%, 05/15/2024(b)

  106,000   125,213
Vail Resorts, Inc., 6.25%, 05/15/2025(b)

  184,000   195,666
        320,879
Life & Health Insurance-0.26%
Genworth Holdings, Inc., 4.90%, 08/15/2023

  15,000   15,095
Provident Financing Trust I, 7.41%, 03/15/2038

  75,000   92,657
        107,752
Managed Health Care-0.40%
Magellan Health, Inc., 4.90%, 09/22/2024

  147,000   163,896
Metal & Glass Containers-1.06%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 04/30/2025(b)

  200,000   209,000
Ball Corp., 4.00%, 11/15/2023

  156,000   165,890
Mauser Packaging Solutions Holding Co.        
8.50%, 04/15/2024(b)

  30,000   31,197
7.25%, 04/15/2025(b)

  28,000   27,325
        433,412
  Principal
Amount
  Value
Mortgage REITs-0.64%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/2025(b)

$ 82,000   $83,471
New Residential Investment Corp., 6.25%, 10/15/2025(b)

  115,000   115,040
Starwood Property Trust, Inc., 5.50%, 11/01/2023(b)

  63,000   66,150
        264,661
Movies & Entertainment-1.13%
Banijay Entertainment S.A.S.U. (France), 5.38%, 03/01/2025(b)

  200,000   207,356
Cinemark USA, Inc., 8.75%, 05/01/2025(b)

  145,000   155,324
Netflix, Inc., 5.75%, 03/01/2024

  91,000   101,596
        464,276
Office Services & Supplies-0.62%
ACCO Brands Corp., 4.25%, 03/15/2029(b)

  171,000   171,000
Pitney Bowes, Inc., 6.88%, 03/15/2027(b)

  78,000   82,814
        253,814
Oil & Gas Drilling-0.40%
Harvest Midstream I L.P., 7.50%, 09/01/2028(b)

  84,000   89,947
Patterson-UTI Energy, Inc., 5.15%, 11/15/2029

  71,000   73,486
        163,433
Oil & Gas Equipment & Services-0.16%
Oceaneering International, Inc., 4.65%, 11/15/2024

  66,000   65,753
Oil & Gas Exploration & Production-6.11%
Baytex Energy Corp. (Canada), 8.75%, 04/01/2027(b)

  72,000   72,258
Continental Resources, Inc., 3.80%, 06/01/2024

  152,000   159,575
CrownRock L.P./CrownRock Finance, Inc., 5.63%, 10/15/2025(b)

  119,000   122,305
Encino Acquisition Partners Holdings LLC, 8.50%, 05/01/2028(b)

  161,000   161,175
Endeavor Energy Resources L.P./EER Finance, Inc., 6.63%, 07/15/2025(b)

  137,000   145,049
EQT Corp., 6.63%, 02/01/2025

  137,000   158,476
Genesis Energy L.P./Genesis Energy Finance Corp.        
5.63%, 06/15/2024

  138,000   137,453
8.00%, 01/15/2027

  112,000   115,221
MEG Energy Corp. (Canada), 6.50%, 01/15/2025(b)

  113,000   116,911
Murphy Oil Corp.        
6.88%, 08/15/2024

  167,000   170,487
5.88%, 12/01/2027

  139,000   144,335
6.38%, 12/01/2042

  90,000   90,241
PDC Energy, Inc.        
6.13%, 09/15/2024

  157,000   160,225
5.75%, 05/15/2026

  80,000   82,868
Southwestern Energy Co.        
6.45%, 01/23/2025

  162,000   177,586
7.75%, 10/01/2027(d)

  85,000   91,277
Talos Production, Inc., 12.00%, 01/15/2026

  78,000   81,568
Vermilion Energy, Inc. (Canada), 5.63%, 03/15/2025(b)

  144,000   145,210
WPX Energy, Inc., 5.25%, 09/15/2024

  161,000   178,320
        2,510,540
 
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Oil & Gas Refining & Marketing-2.17%
Calumet Specialty Products Partners L.P./Calumet Finance Corp., 9.25%, 07/15/2024(b)

$ 118,000   $129,146
CVR Energy, Inc., 5.25%, 02/15/2025(b)

  161,000   156,775
EnLink Midstream Partners L.P.        
4.40%, 04/01/2024

  47,000   49,462
4.85%, 07/15/2026

  118,000   123,494
5.45%, 06/01/2047

  96,000   93,527
PBF Holding Co. LLC/PBF Finance Corp.        
9.25%, 05/15/2025(b)(d)

  198,000   181,913
6.00%, 02/15/2028

  231,000   120,962
Weatherford International Ltd., 11.00%, 12/01/2024(b)

  35,000   36,283
        891,562
Oil & Gas Storage & Transportation-3.89%
Altera Infrastructure L.P./Teekay Offshore Finance Corp., 8.50%, 07/15/2023(b)

  107,000   98,451
Buckeye Partners L.P., 4.13%, 03/01/2025(b)

  110,000   113,886
EnLink Midstream LLC, 5.38%, 06/01/2029

  194,000   202,053
EQM Midstream Partners L.P.        
4.00%, 08/01/2024

  118,000   120,985
6.50%, 07/15/2048

  187,000   205,970
Neptune Energy Bondco PLC (United Kingdom), 6.63%, 05/15/2025(b)

  200,000   203,946
Southeast Supply Header LLC, 4.25%, 06/15/2024(b)

  100,000   99,081
Tallgrass Energy Partners L.P./Tallgrass Energy Finance Corp.        
5.50%, 09/15/2024(b)

  125,000   126,807
7.50%, 10/01/2025(b)

  75,000   81,573
6.00%, 12/31/2030(b)

  138,000   145,198
Western Midstream Operating L.P., 4.35%, 02/01/2025

  190,000   199,280
        1,597,230
Other Diversified Financial Services-1.24%
AG Issuer LLC, 6.25%, 03/01/2028(b)

  192,000   201,807
CNG Holdings, Inc., 12.50%, 06/15/2024(b)

  75,000   71,926
Global Aircraft Leasing Co. Ltd. (Cayman Islands), 6.50% 7.25% PIK Rate, 6.50% Cash Rate, 09/15/2024(b)(e)

  232,120   233,571
        507,304
Packaged Foods & Meats-0.69%
Aramark Services, Inc., 6.38%, 05/01/2025(b)

  94,000   99,301
Pilgrim’s Pride Corp., 5.88%, 09/30/2027(b)

  170,000   182,123
        281,424
Paper Packaging-0.20%
Graphic Packaging International LLC, 4.13%, 08/15/2024

  75,000   80,336
Paper Products-0.20%
Clearwater Paper Corp., 5.38%, 02/01/2025(b)

  75,000   80,163
Personal Products-1.52%
Avon Products, Inc. (United Kingdom), 8.45%, 03/15/2043

  116,000   150,800
Herbalife Nutrition Ltd./HLF Financing, Inc., 7.88%, 09/01/2025(b)

  247,000   268,612
Oriflame Investment Holding PLC (Switzerland), 5.13%, 05/04/2026(b)

  200,000   205,900
        625,312
  Principal
Amount
  Value
Pharmaceuticals-3.43%
AdaptHealth LLC, 6.13%, 08/01/2028(b)

$ 147,000   $154,720
Bausch Health Cos., Inc.        
5.50%, 11/01/2025(b)

  160,000   163,607
5.00%, 01/30/2028(b)

  151,000   144,205
6.25%, 02/15/2029(b)

  215,000   214,187
5.25%, 01/30/2030(b)(d)

  172,000   162,095
Elanco Animal Health, Inc., 5.27%, 08/28/2023

  81,000   86,809
Endo DAC/Endo Finance LLC/Endo Finco, Inc., 6.00%, 06/30/2028(b)

  36,000   24,347
Endo Luxembourg Finance Co. I S.a.r.l./Endo US, Inc., 6.13%, 04/01/2029(b)

  210,000   209,001
P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/2025(b)

  61,000   63,970
Par Pharmaceutical, Inc., 7.50%, 04/01/2027(b)

  183,000   186,916
        1,409,857
Real Estate Development-0.41%
Howard Hughes Corp. (The)        
5.38%, 08/01/2028(b)

  83,000   87,980
4.13%, 02/01/2029(b)

  80,000   79,434
        167,414
Regional Banks-0.18%
CIT Group, Inc., 4.75%, 02/16/2024

  67,000   72,395
Reinsurance-0.17%
Enstar Finance LLC, 5.75%, 09/01/2040(f)

  65,000   69,388
Restaurants-0.13%
Sizzling Platter LLC/Sizzling Platter Finance Corp., 8.50%, 11/28/2025(b)(d)

  52,000   53,950
Retail REITs-0.17%
Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC, 5.75%, 05/15/2026(b)

  68,000   70,642
Security & Alarm Services-0.64%
CoreCivic, Inc.        
4.63%, 05/01/2023(d)

  120,000   121,274
4.75%, 10/15/2027

  153,000   140,560
        261,834
Specialized REITs-1.39%
Iron Mountain, Inc.        
4.88%, 09/15/2029(b)

  127,000   133,219
5.25%, 07/15/2030(b)

  188,000   200,573
SBA Communications Corp., 4.88%, 09/01/2024

  232,000   236,141
        569,933
Specialty Stores-1.01%
LSF9 Atlantis Holdings LLC/Victra Finance Corp., 7.75%, 02/15/2026(b)

  111,000   116,139
Michaels Cos., Inc. (The), 7.88%, 05/01/2029(b)

  31,000   32,209
Staples, Inc., 7.50%, 04/15/2026(b)

  263,000   267,283
        415,631
Steel-2.32%
ArcelorMittal S.A. (Luxembourg), 3.60%, 07/16/2024

  176,000   188,401
Carpenter Technology Corp., 6.38%, 07/15/2028

  172,000   189,164
Cleveland-Cliffs, Inc.        
9.88%, 10/17/2025(b)

  47,000   54,990
6.75%, 03/15/2026(b)

  75,000   81,039
 
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Steel-(continued)
Infrabuild Australia Pty. Ltd. (Australia), 12.00%, 10/01/2024(b)(d)

$ 102,000   $109,021
SunCoke Energy, Inc., 4.88%, 06/30/2029(b)

  123,000   124,250
Warrior Met Coal, Inc., 8.00%, 11/01/2024(b)

  202,000   206,181
        953,046
Systems Software-0.87%
Banff Merger Sub, Inc., 9.75%, 09/01/2026(b)

  25,000   26,314
NortonLifeLock, Inc., 5.00%, 04/15/2025(b)

  150,000   152,074
Veritas US, Inc./Veritas Bermuda Ltd., 7.50%, 09/01/2025(b)

  171,000   177,480
        355,868
Technology Distributors-0.24%
CDW LLC/CDW Finance Corp., 5.50%, 12/01/2024

  90,000   99,370
Technology Hardware, Storage & Peripherals-1.68%
EMC Corp., 3.38%, 06/01/2023

  128,000   132,567
Seagate HDD Cayman, 4.88%, 03/01/2024

  121,000   131,573
Xerox Corp., 6.75%, 12/15/2039

  147,000   166,139
Xerox Holdings Corp.        
5.00%, 08/15/2025(b)

  57,000   60,826
5.50%, 08/15/2028(b)

  189,000   199,636
        690,741
Thrifts & Mortgage Finance-0.41%
MGIC Investment Corp., 5.75%, 08/15/2023

  21,000   22,692
NMI Holdings, Inc., 7.38%, 06/01/2025(b)

  81,000   92,608
Radian Group, Inc., 4.50%, 10/01/2024

  49,000   52,525
        167,825
Tires & Rubber-0.28%
FXI Holdings, Inc., 12.25%, 11/15/2026(b)

  101,000   115,029
Tobacco-0.26%
Vector Group Ltd., 5.75%, 02/01/2029(b)

  106,000   108,014
Trading Companies & Distributors-0.38%
AerCap Holdings N.V. (Ireland), 5.88%, 10/10/2079(f)

  150,000   157,719
Trucking-0.71%
XPO Logistics, Inc.        
6.13%, 09/01/2023(b)

  108,000   108,656
6.75%, 08/15/2024(b)

  175,000   182,103
        290,759
  Principal
Amount
  Value
Wireless Telecommunication Services-2.16%
Sprint Corp.        
7.88%, 09/15/2023

$ 235,000   $266,210
7.13%, 06/15/2024

  235,000   270,485
7.63%, 02/15/2025

  130,000   153,414
Vmed O2 UK Financing I PLC (United Kingdom), 4.25%, 01/31/2031(b)

  200,000   198,517
        888,626
Total U.S. Dollar Denominated Bonds & Notes

(Cost $39,665,147)

  40,170,304
U.S. Treasury Securities-0.18%
U.S. Treasury Bills-0.18%
0.04%, 11/18/2021(g)(h)

(Cost $70,991)

  71,000   70,990
  Shares    
Money Market Funds-0.05%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(i)(j)

(Cost $22,257)

  22,257   22,257
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-98.04%

(Cost $39,758,395)

  40,263,551
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-6.48%
Invesco Private Government Fund, 0.02%(i)(j)(k)

  797,852   797,852
Invesco Private Prime Fund, 0.12%(i)(j)(k)

  1,860,910   1,861,654
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $2,659,506)

  2,659,506
TOTAL INVESTMENTS IN SECURITIES-104.52%

(Cost $42,417,901)

  42,923,057
OTHER ASSETS LESS LIABILITIES-(4.52)%

  (1,854,395)
NET ASSETS-100.00%

  $41,068,662
 
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)—(continued)
July 31, 2021
(Unaudited)
Investment Abbreviations:
PIK -Pay-in-Kind
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) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2021 was $24,719,458, which represented 60.19% of the Fund’s Net Assets.
(c) Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date.
(d) All or a portion of this security was out on loan at July 31, 2021.
(e) All or a portion of this security is Pay-in-Kind. Pay-in-Kind securities pay interest income in the form of securities.
(f) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(g) $70,990 was pledged as collateral to cover margin requirements for open futures contracts.  
(h) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(i) 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 period ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $-   $26,910,894   $(26,888,637)   $-   $-   $22,257   $132
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund -   6,400,798   (5,602,946)   -   -   797,852   65*
Invesco Private Prime Fund -   10,726,137   (8,864,483)   -   -   1,861,654   1,019*
Total $-   $44,037,829   $(41,356,066)   $-   $-   $2,681,763   $1,216
    
* 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.
    
(j) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(k) 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.  
    
Open Futures Contracts
Long Futures Contracts   Number of
Contracts
  Expiration
Month
  Notional
Value
  Value   Unrealized
Appreciation
(Depreciation)
Interest Rate Risk                    
U.S. Treasury Long Bonds   1   September-2021   $164,719   $8,404   $8,404
U.S. Treasury Ultra Bonds   1   September-2021   199,531   6,967   6,967
U.S. Treasury 10 Year Notes   17   September-2021   2,285,703   41,683   41,683
U.S. Treasury 10 Year Ultra Bonds   11   September-2021   1,652,750   61,766   61,766
Subtotal—Long Futures Contracts               118,820   118,820
Short Futures Contracts                    
Interest Rate Risk                    
U.S. Treasury 2 Year Notes   10   September-2021   (2,206,562)   (352)   (352)
Total Futures Contracts   $118,468   $118,468
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
Invesco Moderately Conservative Multi-Asset Allocation ETF (PSMM)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 107.17%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Domestic Equity Funds-33.05%
Invesco Preferred ETF

2.97%   $162,929   $430,087   $(126,275)   $7,866   $1,863   $8,760   31,285   $476,470
Invesco RAFI™ Strategic US ETF

7.55%   232,768   975,236   (109,854)   105,615   6,688   5,476   32,048   1,210,453
Invesco RAFI™ Strategic US Small Company ETF

2.56%   177,872   409,787   (275,640)   77,195   21,149   1,317   10,656   410,363
Invesco Russell 1000 Dynamic Multifactor ETF

5.64%   257,927   768,816   (237,767)   66,651   49,117   3,723   19,328   904,744
Invesco S&P 500® Low Volatility ETF

2.99%   140,377   417,348   (122,954)   30,973   13,260   2,812   7,596   479,004
Invesco S&P 500® Pure Growth ETF(b)

7.31%   302,738   953,917   (276,517)   150,021   42,537   330   6,057   1,172,696
Invesco S&P MidCap Low Volatility ETF

2.01%   118,297   299,977   (133,579)   29,265   8,315   1,368   5,896   322,275
Invesco S&P SmallCap Low Volatility ETF

2.02%   107,702   289,086   (108,779)   20,259   16,640   1,656   6,872   324,908
Total Domestic Equity Funds

    1,500,610   4,544,254   (1,391,365)   487,845   159,569   25,442       5,300,913
Fixed Income Funds-56.52%
Invesco 1-30 Laddered Treasury ETF

7.96%   204,246   1,112,050   (68,810)   32,637   (2,962)   3,847   34,360   1,277,161
Invesco Emerging Markets Sovereign Debt ETF

0.99%   169,858   273,470   (289,656)   15,510   (10,475)   5,707   5,744   158,707
Invesco Fundamental High Yield® Corporate Bond ETF

8.90%   151,609   1,295,809   (34,021)   14,141   (520)   11,594   73,068   1,427,018
Invesco Investment Grade Defensive ETF

2.48%   475,320   717,689   (786,410)   1,156   (3,722)   4,010   14,838   397,955
Invesco Investment Grade Value ETF

1.49%   254,847   404,900   (416,790)   2,320   (2,515)   3,608   8,567   239,018
Invesco PureBetaSM 0-5 Yr US TIPS ETF

4.98%   165,396   657,311   (38,681)   14,119   1,113   4,043   29,742   799,165
Invesco Senior Loan ETF(b)

4.44%   73,788   656,129   (16,204)   (1,770)   (440)   5,123   32,297   711,503
Invesco Taxable Municipal Bond ETF

15.88%   310,332   2,273,507   (104,783)   67,748   1,022   16,661   75,693   2,547,826
Invesco Variable Rate Investment Grade ETF

9.40%   497,725   1,324,286   (318,940)   5,100   (439)   3,494   60,069   1,507,732
Total Fixed Income Funds

    2,303,121   8,715,151   (2,074,295)   150,961   (18,938)   58,087       9,066,085
Foreign Equity Funds-10.44%
Invesco RAFI™ Strategic Developed ex-US ETF

3.53%   109,199   471,359   (57,123)   41,781   408   4,046   18,305   565,624
Invesco RAFI™ Strategic Emerging Markets ETF

1.93%   -   325,497   (2,633)   (13,504)   (90)   2,011   10,824   309,270
Invesco S&P Emerging Markets Low Volatility ETF

1.97%   -   320,656   -   (5,148)   -   1,983   13,104   315,508
Invesco S&P International Developed Low Volatility ETF

3.01%   119,962   384,018   (45,226)   28,165   (3,488)   4,047   15,255   483,431
Total Foreign Equity Funds

    229,161   1,501,530   (104,982)   51,294   (3,170)   12,087       1,673,833
Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class

-   58   58,081   (58,139)   -   -   -   -   -
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

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

(Cost $15,372,207)

100.01%   4,032,950   14,819,016   (3,628,781)   690,100   137,461   95,616       16,040,831
See accompanying notes which are an integral part of this schedule.

Invesco Moderately Conservative Multi-Asset Allocation ETF (PSMM)—(continued)
July 31, 2021
(Unaudited)
Schedule of Investments in Affiliated Issuers- 107.17%(a)
  % of
Net
Assets
07/31/21
  Value
10/31/20
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Dividend
Income
  Shares
07/31/21
  Value
07/31/21
Investments Purchased with Cash Collateral from Securities on Loan                                  
Money Market Funds-7.16%
Invesco Private Government Fund, 0.02%(c)(d)

2.15%   $89,597   $5,717,890   $(5,462,799)   $-   $-   $27*   344,688   $344,688
Invesco Private Prime Fund, 0.12%(c)(d)

5.01%   199,099   8,236,773   (7,631,616)   -   16   334*   803,950   804,272
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,148,960)

7.16%   288,696   13,954,663   (13,094,415)   -   16   361       1,148,960
TOTAL INVESTMENTS IN AFFILIATED ISSUERS

(Cost $16,521,167)

107.17%   $4,321,646   $28,773,679   $(16,723,196)   $690,100   $137,477(e)   $95,977       $17,189,791
OTHER ASSETS LESS LIABILITIES

(7.17)%                               (1,149,508)
NET ASSETS

100.00%                               $16,040,283
    
Investment Abbreviations:
ETF- Exchange-Traded Fund
    
Notes to Schedule of Investments:
(a) Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.
(b) All or a portion of this security was out on loan at July 31, 2021.
(c) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(d) 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.  
(e) Includes capital gains distributions from affiliated underlying funds as follows:
    
Fund Name Capital Gain
Invesco Investment Grade Defensive ETF $6,078
Invesco Investment Grade Value ETF 3,744
Invesco PureBetaSM 0-5 Yr US TIPS ETF 93
    
* Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco S&P 500® Downside Hedged ETF (PHDG)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-60.59%
Communication Services-6.81%
Activision Blizzard, Inc.

  2,630   $219,921
Alphabet, Inc., Class A(b)

  1,019   2,745,726
Alphabet, Inc., Class C(b)

  964   2,607,061
AT&T, Inc.

  24,166   677,856
Charter Communications, Inc., Class A(b)

  466   346,727
Comcast Corp., Class A

  15,519   912,983
Discovery, Inc., Class A(b)(c)

  571   16,565
Discovery, Inc., Class C(b)

  1,018   27,598
DISH Network Corp., Class A(b)

  839   35,146
Electronic Arts, Inc.

  966   139,065
Facebook, Inc., Class A(b)

  8,112   2,890,306
Fox Corp., Class A

  1,108   39,511
Fox Corp., Class B

  512   17,019
Interpublic Group of Cos., Inc. (The)

  1,333   47,135
Live Nation Entertainment, Inc.(b)

  487   38,419
Lumen Technologies, Inc.

  3,365   41,962
Netflix, Inc.(b)

  1,501   776,873
News Corp., Class A

  1,327   32,684
News Corp., Class B

  414   9,733
Omnicom Group, Inc.

  726   52,867
Take-Two Interactive Software, Inc.(b)

  389   67,460
T-Mobile US, Inc.(b)

  1,983   285,592
Twitter, Inc.(b)

  2,698   188,185
Verizon Communications, Inc.

  14,015   781,757
ViacomCBS, Inc., Class B

  2,051   83,947
Walt Disney Co. (The)(b)

  6,147   1,081,995
        14,164,093
Consumer Discretionary-7.31%
Advance Auto Parts, Inc.

  222   47,077
Amazon.com, Inc.(b)

  1,453   4,834,988
Aptiv PLC(b)

  915   152,668
AutoZone, Inc.(b)

  76   123,391
Bath & Body Works, Inc.

  897   71,823
Best Buy Co., Inc.

  756   84,937
Booking Holdings, Inc.(b)

  140   304,956
BorgWarner, Inc.

  812   39,772
Caesars Entertainment, Inc.(b)

  706   61,676
CarMax, Inc.(b)

  552   73,940
Carnival Corp.(b)(c)

  2,698   58,412
Chipotle Mexican Grill, Inc.(b)

  96   178,890
D.R. Horton, Inc.

  1,112   106,118
Darden Restaurants, Inc.

  444   64,771
Dollar General Corp.

  800   186,112
Dollar Tree, Inc.(b)

  786   78,435
Domino’s Pizza, Inc.

  131   68,839
eBay, Inc.

  2,190   149,380
Etsy, Inc.(b)

  432   79,276
Expedia Group, Inc.(b)

  478   76,896
Ford Motor Co.(b)

  13,264   185,033
Gap, Inc. (The)

  702   20,477
Garmin Ltd.

  505   79,386
General Motors Co.(b)

  4,322   245,662
Genuine Parts Co.

  487   61,810
Hanesbrands, Inc.

  1,180   21,547
Hasbro, Inc.

  435   43,256
Hilton Worldwide Holdings, Inc.(b)

  942   123,826
Home Depot, Inc. (The)

  3,597   1,180,499
Las Vegas Sands Corp.(b)

  1,113   47,136
Leggett & Platt, Inc.

  452   21,710
Lennar Corp., Class A

  933   98,105
LKQ Corp.(b)

  940   47,705
  Shares   Value
Consumer Discretionary-(continued)
Lowe’s Cos., Inc.

  2,393   $461,107
Marriott International, Inc., Class A(b)

  904   131,966
McDonald’s Corp.

  2,526   613,085
MGM Resorts International

  1,377   51,679
Mohawk Industries, Inc.(b)

  200   38,980
Newell Brands, Inc.

  1,281   31,705
NIKE, Inc., Class B

  4,317   723,141
Norwegian Cruise Line Holdings Ltd.(b)

  1,252   30,086
NVR, Inc.(b)

  12   62,671
O’Reilly Automotive, Inc.(b)

  236   142,506
Penn National Gaming, Inc.(b)

  501   34,258
Pool Corp.

  135   64,506
PulteGroup, Inc.

  896   49,164
PVH Corp.(b)

  241   25,213
Ralph Lauren Corp.

  161   18,277
Ross Stores, Inc.

  1,204   147,719
Royal Caribbean Cruises Ltd.(b)

  739   56,807
Starbucks Corp.

  3,989   484,384
Tapestry, Inc.(b)

  943   39,889
Target Corp.

  1,676   437,520
Tesla, Inc.(b)

  2,610   1,793,592
TJX Cos., Inc. (The)

  4,079   280,676
Tractor Supply Co.

  388   70,201
Ulta Beauty, Inc.(b)

  188   63,130
Under Armour, Inc., Class A(b)

  640   13,088
Under Armour, Inc., Class C(b)

  665   11,651
VF Corp.

  1,086   87,097
Whirlpool Corp.

  213   47,188
Wynn Resorts Ltd.(b)

  356   35,005
Yum! Brands, Inc.

  1,009   132,573
        15,197,373
Consumer Staples-3.55%
Altria Group, Inc.

  6,261   300,778
Archer-Daniels-Midland Co.

  1,889   112,811
Brown-Forman Corp., Class B

  616   43,687
Campbell Soup Co.

  688   30,079
Church & Dwight Co., Inc.

  829   71,775
Clorox Co. (The)

  423   76,516
Coca-Cola Co. (The)

  13,133   748,975
Colgate-Palmolive Co.

  2,865   227,767
Conagra Brands, Inc.

  1,624   54,388
Constellation Brands, Inc., Class A

  572   128,322
Costco Wholesale Corp.

  1,496   642,861
Estee Lauder Cos., Inc. (The), Class A

  785   262,057
General Mills, Inc.

  2,065   121,546
Hershey Co. (The)

  494   88,367
Hormel Foods Corp.

  953   44,200
JM Smucker Co. (The)

  370   48,511
Kellogg Co.

  851   53,919
Kimberly-Clark Corp.

  1,143   155,128
Kraft Heinz Co. (The)

  2,194   84,403
Kroger Co. (The)

  2,561   104,233
Lamb Weston Holdings, Inc.

  493   32,918
McCormick & Co., Inc.

  841   70,787
Molson Coors Beverage Co., Class B(b)

  639   31,241
Mondelez International, Inc., Class A

  4,753   300,675
Monster Beverage Corp.(b)

  1,252   118,089
PepsiCo, Inc.

  4,678   734,212
Philip Morris International, Inc.

  5,278   528,275
Procter & Gamble Co. (The)

  8,288   1,178,802
Sysco Corp.

  1,731   128,440
Tyson Foods, Inc., Class A

  999   71,389
See accompanying notes which are an integral part of this schedule.

Invesco S&P 500® Downside Hedged ETF (PHDG)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Consumer Staples-(continued)
Walgreens Boots Alliance, Inc.

  2,427   $114,433
Walmart, Inc.

  4,645   662,145
        7,371,729
Energy-1.54%
APA Corp.

  1,279   23,981
Baker Hughes Co., Class A

  2,459   52,229
Cabot Oil & Gas Corp.

  1,355   21,680
Chevron Corp.

  6,542   666,041
ConocoPhillips

  4,568   256,082
Devon Energy Corp.

  2,018   52,145
Diamondback Energy, Inc.

  611   47,126
EOG Resources, Inc.

  1,974   143,826
Exxon Mobil Corp.

  14,330   824,978
Halliburton Co.

  3,010   62,247
Hess Corp.

  929   71,013
Kinder Morgan, Inc.

  6,590   114,534
Marathon Oil Corp.

  2,666   30,899
Marathon Petroleum Corp.

  2,157   119,110
NOV, Inc.(b)

  1,325   18,298
Occidental Petroleum Corp.

  2,845   74,254
ONEOK, Inc.

  1,507   78,319
Phillips 66

  1,482   108,823
Pioneer Natural Resources Co.

  786   114,261
Schlumberger N.V.

  4,731   136,395
Valero Energy Corp.

  1,384   92,686
Williams Cos., Inc. (The)

  4,112   103,006
        3,211,933
Financials-6.62%
Aflac, Inc.

  2,141   117,755
Allstate Corp. (The)

  1,015   132,001
American Express Co.

  2,201   375,337
American International Group, Inc.

  2,902   137,410
Ameriprise Financial, Inc.

  390   100,448
Aon PLC, Class A

  765   198,923
Arthur J. Gallagher & Co.

  694   96,681
Assurant, Inc.

  206   32,509
Bank of America Corp.

  25,521   978,986
Bank of New York Mellon Corp. (The)

  2,731   140,182
Berkshire Hathaway, Inc., Class B(b)

  6,416   1,785,509
BlackRock, Inc.

  479   415,374
Capital One Financial Corp.

  1,527   246,916
Cboe Global Markets, Inc.

  360   42,649
Charles Schwab Corp. (The)

  5,075   344,846
Chubb Ltd.

  1,520   256,485
Cincinnati Financial Corp.

  505   59,529
Citigroup, Inc.

  6,996   473,070
Citizens Financial Group, Inc.

  1,444   60,879
CME Group, Inc., Class A

  1,218   258,374
Comerica, Inc.

  472   32,408
Discover Financial Services

  1,031   128,174
Everest Re Group Ltd.

  134   33,879
Fifth Third Bancorp

  2,383   86,479
First Republic Bank

  594   115,842
Franklin Resources, Inc.

  922   27,245
Globe Life, Inc.

  322   29,981
Goldman Sachs Group, Inc. (The)

  1,151   431,487
Hartford Financial Services Group, Inc. (The)

  1,212   77,107
Huntington Bancshares, Inc.

  4,991   70,273
Intercontinental Exchange, Inc.

  1,907   228,516
Invesco Ltd.(d)

  460   11,215
JPMorgan Chase & Co.

  10,244   1,554,834
  Shares   Value
Financials-(continued)
KeyCorp

  3,286   $64,603
Lincoln National Corp.

  604   37,219
Loews Corp.

  759   40,705
M&T Bank Corp.

  437   58,493
MarketAxess Holdings, Inc.

  128   60,822
Marsh & McLennan Cos., Inc.

  1,721   253,366
MetLife, Inc.

  2,519   145,346
Moody’s Corp.

  547   205,672
Morgan Stanley

  5,037   483,451
MSCI, Inc.

  277   165,081
Nasdaq, Inc.

  387   72,265
Northern Trust Corp.

  704   79,446
People’s United Financial, Inc.

  1,449   22,749
PNC Financial Services Group, Inc. (The)

  1,440   262,670
Principal Financial Group, Inc.

  854   53,059
Progressive Corp. (The)

  1,980   188,417
Prudential Financial, Inc.

  1,336   133,974
Raymond James Financial, Inc.

  415   53,734
Regions Financial Corp.

  3,251   62,582
S&P Global, Inc.

  815   349,407
State Street Corp.

  1,176   102,477
SVB Financial Group(b)

  192   105,592
Synchrony Financial

  1,831   86,094
T. Rowe Price Group, Inc.

  769   156,999
Travelers Cos., Inc. (The)

  849   126,433
Truist Financial Corp.

  4,552   247,765
U.S. Bancorp

  4,588   254,818
Unum Group

  691   18,933
W.R. Berkley Corp.

  473   34,609
Wells Fargo & Co.

  13,988   642,609
Willis Towers Watson PLC

  438   90,263
Zions Bancorporation N.A.

  555   28,943
        13,769,899
Health Care-8.14%
Abbott Laboratories

  6,013   727,453
AbbVie, Inc.

  5,978   695,241
ABIOMED, Inc.(b)

  151   49,398
Agilent Technologies, Inc.

  1,028   157,520
Align Technology, Inc.(b)

  243   169,079
AmerisourceBergen Corp.

  499   60,963
Amgen, Inc.

  1,945   469,795
Anthem, Inc.

  828   317,960
Baxter International, Inc.

  1,702   131,650
Becton, Dickinson and Co.

  986   252,170
Biogen, Inc.(b)

  507   165,652
Bio-Rad Laboratories, Inc., Class A(b)

  75   55,463
Boston Scientific Corp.(b)

  4,809   219,290
Bristol-Myers Squibb Co.

  7,563   513,301
Cardinal Health, Inc.

  984   58,430
Catalent, Inc.(b)

  577   69,130
Centene Corp.(b)

  1,972   135,299
Cerner Corp.

  1,021   82,078
Charles River Laboratories International, Inc.(b)

  183   74,466
Cigna Corp.

  1,161   266,438
Cooper Cos., Inc. (The)

  164   69,170
CVS Health Corp.

  4,457   367,079
Danaher Corp.

  2,150   639,604
DaVita, Inc.(b)

  237   28,499
DENTSPLY SIRONA, Inc.

  737   48,672
DexCom, Inc.(b)

  328   169,087
Edwards Lifesciences Corp.(b)

  2,102   235,992
 
See accompanying notes which are an integral part of this schedule.

Invesco S&P 500® Downside Hedged ETF (PHDG)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Health Care-(continued)
Eli Lilly and Co.

  2,692   $655,502
Gilead Sciences, Inc.

  4,246   289,959
HCA Healthcare, Inc.

  890   220,898
Henry Schein, Inc.(b)

  475   38,071
Hologic, Inc.(b)

  869   65,210
Humana, Inc.

  438   186,527
IDEXX Laboratories, Inc.(b)

  291   197,452
Illumina, Inc.(b)

  493   244,405
Incyte Corp.(b)

  635   49,117
Intuitive Surgical, Inc.(b)

  408   404,516
IQVIA Holdings, Inc.(b)

  650   161,005
Johnson & Johnson

  8,916   1,535,335
Laboratory Corp. of America Holdings(b)

  331   98,026
McKesson Corp.

  537   109,457
Medtronic PLC

  4,555   598,117
Merck & Co., Inc.

  8,573   659,007
Mettler-Toledo International, Inc.(b)

  80   117,897
Moderna, Inc.(b)

  1,033   365,269
Organon & Co.(b)

  854   24,775
PerkinElmer, Inc.

  378   68,883
Perrigo Co. PLC

  453   21,758
Pfizer, Inc.

  18,945   811,035
Quest Diagnostics, Inc.

  443   62,817
Regeneron Pharmaceuticals, Inc.(b)

  354   203,412
ResMed, Inc.

  491   133,454
STERIS PLC

  331   72,141
Stryker Corp.

  1,111   301,014
Teleflex, Inc.

  156   61,999
Thermo Fisher Scientific, Inc.

  1,332   719,293
UnitedHealth Group, Inc.

  3,195   1,317,043
Universal Health Services, Inc., Class B

  262   42,027
Vertex Pharmaceuticals, Inc.(b)

  879   177,189
Viatris, Inc.

  4,093   57,589
Waters Corp.(b)

  210   81,860
West Pharmaceutical Services, Inc.

  249   102,521
Zimmer Biomet Holdings, Inc.

  705   115,211
Zoetis, Inc.

  1,606   325,536
        16,924,206
Industrials-5.09%
3M Co.

  1,961   388,160
A.O. Smith Corp.

  455   32,000
Alaska Air Group, Inc.(b)

  423   24,547
Allegion PLC

  306   41,800
American Airlines Group, Inc.(b)

  2,170   44,225
AMETEK, Inc.

  782   108,737
Boeing Co. (The)(b)

  1,859   421,026
C.H. Robinson Worldwide, Inc.

  451   40,216
Carrier Global Corp.

  2,764   152,711
Caterpillar, Inc.

  1,853   383,108
Cintas Corp.

  300   118,254
Copart, Inc.(b)

  704   103,488
CSX Corp.

  7,690   248,541
Cummins, Inc.

  493   114,425
Deere & Co.

  1,055   381,477
Delta Air Lines, Inc.(b)

  2,165   86,384
Dover Corp.

  486   81,220
Eaton Corp. PLC

  1,350   213,367
Emerson Electric Co.

  2,031   204,908
Equifax, Inc.

  414   107,888
Expeditors International of Washington, Inc.

  572   73,359
Fastenal Co.

  1,944   106,473
FedEx Corp.

  825   230,959
  Shares   Value
Industrials-(continued)
Fortive Corp.

  1,147   $83,341
Fortune Brands Home & Security, Inc.

  468   45,616
Generac Holdings, Inc.(b)

  214   89,743
General Dynamics Corp.

  776   152,119
General Electric Co.

  29,699   384,602
Honeywell International, Inc.

  2,348   548,939
Howmet Aerospace, Inc.(b)

  1,325   43,487
Huntington Ingalls Industries, Inc.

  135   27,693
IDEX Corp.

  255   57,806
IHS Markit Ltd.

  1,268   148,153
Illinois Tool Works, Inc.

  970   219,870
Ingersoll Rand, Inc.(b)

  1,263   61,723
J.B. Hunt Transport Services, Inc.

  280   47,166
Jacobs Engineering Group, Inc.

  442   59,781
Johnson Controls International PLC

  2,425   173,194
Kansas City Southern

  310   83,018
L3Harris Technologies, Inc.

  694   157,358
Leidos Holdings, Inc.

  450   47,889
Lockheed Martin Corp.

  827   307,371
Masco Corp.

  857   51,171
Nielsen Holdings PLC

  1,215   28,783
Norfolk Southern Corp.

  845   217,866
Northrop Grumman Corp.

  504   182,962
Old Dominion Freight Line, Inc.

  323   86,935
Otis Worldwide Corp.

  1,365   122,236
PACCAR, Inc.

  1,174   97,430
Parker-Hannifin Corp.

  438   136,669
Pentair PLC

  564   41,550
Quanta Services, Inc.

  471   42,814
Raytheon Technologies Corp.

  5,129   445,967
Republic Services, Inc.

  712   84,272
Robert Half International, Inc.

  380   37,320
Rockwell Automation, Inc.

  390   119,894
Rollins, Inc.

  751   28,786
Roper Technologies, Inc.

  356   174,917
Snap-on, Inc.

  186   40,544
Southwest Airlines Co.(b)

  1,999   100,989
Stanley Black & Decker, Inc.

  548   107,983
Teledyne Technologies, Inc.(b)

  155   70,179
Textron, Inc.

  765   52,793
Trane Technologies PLC

  809   164,720
TransDigm Group, Inc.(b)

  188   120,525
Union Pacific Corp.

  2,251   492,429
United Airlines Holdings, Inc.(b)(c)

  1,097   51,252
United Parcel Service, Inc., Class B

  2,447   468,258
United Rentals, Inc.(b)

  244   80,410
Verisk Analytics, Inc.

  550   104,467
W.W. Grainger, Inc.

  147   65,353
Wabtec Corp.

  600   50,922
Waste Management, Inc.

  1,312   194,517
Xylem, Inc.

  608   76,517
        10,587,572
Information Technology-16.86%
Accenture PLC, Class A

  2,153   683,965
Adobe, Inc.(b)

  1,618   1,005,797
Advanced Micro Devices, Inc.(b)

  4,114   436,866
Akamai Technologies, Inc.(b)

  553   66,316
Amphenol Corp., Class A

  2,025   146,792
Analog Devices, Inc.

  1,248   208,940
ANSYS, Inc.(b)

  297   109,433
Apple, Inc.

  53,127   7,749,104
Applied Materials, Inc.

  3,106   434,623
 
See accompanying notes which are an integral part of this schedule.

Invesco S&P 500® Downside Hedged ETF (PHDG)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Information Technology-(continued)
Arista Networks, Inc.(b)

  188   $71,513
Autodesk, Inc.(b)

  742   238,278
Automatic Data Processing, Inc.

  1,443   302,496
Broadcom, Inc.

  1,382   670,823
Broadridge Financial Solutions, Inc.

  390   67,661
Cadence Design Systems, Inc.(b)

  941   138,939
CDW Corp.

  474   86,908
Cisco Systems, Inc.

  14,263   789,742
Citrix Systems, Inc.

  423   42,617
Cognizant Technology Solutions Corp., Class A

  1,787   131,398
Corning, Inc.

  2,623   109,799
DXC Technology Co.(b)

  865   34,583
Enphase Energy, Inc.(b)

  459   87,026
F5 Networks, Inc.(b)

  203   41,922
Fidelity National Information Services, Inc.

  2,098   312,707
Fiserv, Inc.(b)

  2,018   232,292
FleetCor Technologies, Inc.(b)

  280   72,302
Fortinet, Inc.(b)

  459   124,958
Gartner, Inc.(b)

  293   77,566
Global Payments, Inc.

  1,000   193,410
Hewlett Packard Enterprise Co.

  4,418   64,061
HP, Inc.

  4,064   117,328
Intel Corp.

  13,668   734,245
International Business Machines Corp.

  3,022   425,981
Intuit, Inc.

  925   490,222
IPG Photonics Corp.(b)

  121   26,397
Jack Henry & Associates, Inc.

  251   43,697
Juniper Networks, Inc.

  1,110   31,235
Keysight Technologies, Inc.(b)

  621   102,186
KLA Corp.

  521   181,391
Lam Research Corp.

  482   307,232
Mastercard, Inc., Class A

  2,962   1,143,154
Maxim Integrated Products, Inc.

  909   90,818
Microchip Technology, Inc.

  926   132,529
Micron Technology, Inc.(b)

  3,796   294,494
Microsoft Corp.

  25,508   7,267,484
Monolithic Power Systems, Inc.

  144   64,693
Motorola Solutions, Inc.

  574   128,530
NetApp, Inc.

  755   60,090
NortonLifeLock, Inc.

  1,963   48,722
NVIDIA Corp.

  8,434   1,644,546
NXP Semiconductors N.V. (China)

  933   192,562
Oracle Corp.

  6,145   535,475
Paychex, Inc.

  1,083   123,267
Paycom Software, Inc.(b)

  179   71,600
PayPal Holdings, Inc.(b)

  3,978   1,096,058
PTC, Inc.(b)

  355   48,085
Qorvo, Inc.(b)

  380   72,044
QUALCOMM, Inc.

  3,817   571,787
salesforce.com, inc.(b)

  3,266   790,143
Seagate Technology Holdings PLC

  675   59,332
ServiceNow, Inc.(b)

  670   393,886
Skyworks Solutions, Inc.

  560   103,326
Synopsys, Inc.(b)

  513   147,739
TE Connectivity Ltd.

  1,119   165,019
Teradyne, Inc.

  564   71,628
Texas Instruments, Inc.

  3,124   595,497
Trimble, Inc.(b)

  848   72,504
Tyler Technologies, Inc.(b)

  137   67,492
VeriSign, Inc.(b)

  336   72,700
Visa, Inc., Class A

  5,727   1,411,076
  Shares   Value
Information Technology-(continued)
Western Digital Corp.(b)

  1,038   $67,397
Western Union Co. (The)

  1,385   32,146
Xilinx, Inc.

  831   124,517
Zebra Technologies Corp., Class A(b)

  183   101,104
        35,054,195
Materials-1.57%
Air Products and Chemicals, Inc.

  751   218,564
Albemarle Corp.

  392   80,768
Amcor PLC

  5,217   60,309
Avery Dennison Corp.

  278   58,569
Ball Corp.

  1,112   89,939
Celanese Corp.

  380   59,193
CF Industries Holdings, Inc.

  725   34,256
Corteva, Inc.

  2,496   106,779
Dow, Inc.

  2,528   157,140
DuPont de Nemours, Inc.

  1,802   135,240
Eastman Chemical Co.

  462   52,077
Ecolab, Inc.

  840   185,497
FMC Corp.

  438   46,844
Freeport-McMoRan, Inc.

  4,959   188,938
International Flavors & Fragrances, Inc.

  841   126,688
International Paper Co.

  1,328   76,705
Linde PLC (United Kingdom)

  1,759   540,699
LyondellBasell Industries N.V., Class A

  873   86,715
Martin Marietta Materials, Inc.

  212   77,020
Mosaic Co. (The)

  1,169   36,508
Newmont Corp.

  2,714   170,493
Nucor Corp.

  1,013   105,372
Packaging Corp. of America

  323   45,705
PPG Industries, Inc.

  803   131,307
Sealed Air Corp.

  512   29,056
Sherwin-Williams Co. (The)

  810   235,734
Vulcan Materials Co.

  450   80,995
Westrock Co.

  902   44,387
        3,261,497
Real Estate-1.59%
Alexandria Real Estate Equities, Inc.

  464   93,422
American Tower Corp.

  1,537   434,664
AvalonBay Communities, Inc.

  472   107,536
Boston Properties, Inc.

  480   56,342
CBRE Group, Inc., Class A(b)

  1,136   109,579
Crown Castle International Corp.

  1,464   282,684
Digital Realty Trust, Inc.

  952   146,760
Duke Realty Corp.

  1,269   64,567
Equinix, Inc.

  306   251,045
Equity Residential

  1,164   97,927
Essex Property Trust, Inc.

  220   72,182
Extra Space Storage, Inc.

  453   78,885
Federal Realty Investment Trust

  239   28,090
Healthpeak Properties, Inc.

  1,824   67,433
Host Hotels & Resorts, Inc.(b)

  2,391   38,089
Iron Mountain, Inc.

  980   42,885
Kimco Realty Corp.

  1,468   31,312
Mid-America Apartment Communities, Inc.

  386   74,537
Prologis, Inc.

  2,505   320,740
Public Storage

  513   160,302
Realty Income Corp.

  1,264   88,847
Regency Centers Corp.

  536   35,060
SBA Communications Corp., Class A

  369   125,825
Simon Property Group, Inc.

  1,113   140,817
UDR, Inc.

  1,006   55,320
 
See accompanying notes which are an integral part of this schedule.

Invesco S&P 500® Downside Hedged ETF (PHDG)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Real Estate-(continued)
Ventas, Inc.

  1,269   $75,861
Vornado Realty Trust

  533   23,185
Welltower, Inc.

  1,411   122,559
Weyerhaeuser Co.

  2,535   85,506
        3,311,961
Utilities-1.51%
AES Corp. (The)

  2,257   53,491
Alliant Energy Corp.

  844   49,399
Ameren Corp.

  867   72,759
American Electric Power Co., Inc.

  1,693   149,187
American Water Works Co., Inc.

  612   104,107
Atmos Energy Corp.

  443   43,675
CenterPoint Energy, Inc.

  1,964   50,003
CMS Energy Corp.

  982   60,678
Consolidated Edison, Inc.

  1,160   85,573
Dominion Energy, Inc.

  2,731   204,470
DTE Energy Co.

  656   76,962
Duke Energy Corp.

  2,606   273,917
Edison International

  1,283   69,924
Entergy Corp.

  680   69,986
Evergy, Inc.

  778   50,741
Eversource Energy

  1,162   100,246
Exelon Corp.

  3,308   154,814
FirstEnergy Corp.

  1,840   70,509
NextEra Energy, Inc.

  6,640   517,256
NiSource, Inc.

  1,330   32,944
NRG Energy, Inc.

  828   34,147
Pinnacle West Capital Corp.

  380   31,749
PPL Corp.

  2,606   73,932
Public Service Enterprise Group, Inc.

  1,710   106,413
Sempra Energy

  1,065   139,142
Southern Co. (The)

  3,582   228,782
  Shares   Value
Utilities-(continued)
WEC Energy Group, Inc.

  1,066   $100,353
Xcel Energy, Inc.

  1,822   124,352
        3,129,511
Total Common Stocks & Other Equity Interests

(Cost $124,995,140)

  125,983,969
Money Market Funds-31.46%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $65,415,488)

  65,415,488   65,415,488
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-92.05%

(Cost $190,410,628)

  191,399,457
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-0.05%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  30,636   30,636
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  71,454   71,483
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $102,119)

  102,119
TOTAL INVESTMENTS IN SECURITIES-92.10%

(Cost $190,512,747)

  191,501,576
OTHER ASSETS LESS LIABILITIES-7.90%

  16,424,398
NET ASSETS-100.00%

  $207,925,974
 
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, 2021.
(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 nine months ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Invesco Ltd. $6,031   $-   $-   $5,184   $-   $11,215   $221
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class 43,312,656   450,766,042   (428,663,210)   -   -   65,415,488   8,183
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund -   2,475,409   (2,444,773)   -   -   30,636   9*
Invesco Private Prime Fund -   3,638,778   (3,567,300)   -   5   71,483   151*
Total $43,318,687   $456,880,229   $(434,675,283)   $5,184   $5   $65,528,822   $8,564
    
* 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 S&P 500® Downside Hedged ETF (PHDG)—(continued)
July 31, 2021
(Unaudited)
(e) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(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.  
    
Open Futures Contracts(a)
Long Futures Contracts   Number of
Contracts
  Expiration
Month
  Notional
Value
  Value   Unrealized
Appreciation
Equity Risk                    
CBOE Volatility Index (VIX) Futures   891   August-2021   $18,064,134   $99,191   $99,191
CBOE Volatility Index (VIX) Futures   594   September-2021   13,112,491   110,858   110,858
S&P 500 E-Mini Futures   229   September-2021   50,259,775   435,297   435,297
S&P 500 Micro E-Mini Futures   23   September-2021   504,792   206   206
Total Futures Contracts   $645,552   $645,552
    
(a) Futures contracts collateralized by $15,842,499 cash held with Merrill Lynch International, the futures commission merchant.
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 Total Return Bond ETF (GTO)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Dollar Denominated Bonds & Notes-50.77%
Advertising-0.25%
Interpublic Group of Cos., Inc. (The), 4.75%, 03/30/2030

$ 438,000   $527,751
Lamar Media Corp.        
3.75%, 02/15/2028

  612,000   623,200
3.63%, 01/15/2031(b)

  625,000   618,047
MDC Partners, Inc., 7.50%, 05/01/2024(b)(c)

  250,000   255,387
        2,024,385
Aerospace & Defense-0.59%
Boeing Co. (The)        
2.75%, 02/01/2026

  1,163,000   1,216,998
2.20%, 02/04/2026

  1,142,000   1,152,288
5.81%, 05/01/2050

  1,604,000   2,179,038
Teledyne Technologies, Inc., 2.75%, 04/01/2031

  311,000   327,176
        4,875,500
Agricultural & Farm Machinery-0.24%
Bunge Ltd. Finance Corp., 2.75%, 05/14/2031

  1,926,000   1,975,785
Airlines-0.76%
British Airways Pass-Through Trust (United Kingdom)        
Series 2019-1, Class A, 3.35%, 06/15/2029(b)

  288,398   290,153
Series 2019-1, Class AA, 3.30%, 12/15/2032(b)

  257,632   265,959
Series 2021-1, Class A, 2.90%, 03/15/2035(b)

  1,341,000   1,367,820
Delta Air Lines, Inc./SkyMiles IP Ltd.        
4.50%, 10/20/2025(b)

  1,450,708   1,560,343
4.75%, 10/20/2028(b)

  915,661   1,024,226
United Airlines Pass-Through Trust, Series 2020-1, Class A, 5.88%, 10/15/2027

  929,330   1,035,577
United Airlines, Inc.        
4.38%, 04/15/2026(b)

  281,000   289,466
4.63%, 04/15/2029(b)

  412,000   425,575
        6,259,119
Apparel Retail-0.13%
Ross Stores, Inc., 3.38%, 09/15/2024

  974,000   1,040,059
Application Software-0.39%
salesforce.com, inc.        
2.90%, 07/15/2051

  1,943,000   1,996,919
3.05%, 07/15/2061

  1,180,000   1,230,952
        3,227,871
Asset Management & Custody Banks-0.19%
Ameriprise Financial, Inc., 3.00%, 04/02/2025

  299,000   321,424
CI Financial Corp. (Canada), 3.20%, 12/17/2030

  705,000   734,295
Owl Rock Capital Corp., 2.63%, 01/15/2027

  541,000   547,824
        1,603,543
Auto Parts & Equipment-0.37%
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.        
4.75%, 04/01/2028(b)(d)

  1,448,000   1,471,175
5.38%, 03/01/2029(b)(d)

  550,000   572,726
Nemak S.A.B. de C.V. (Mexico), 3.63%, 06/28/2031(b)

  955,000   957,689
        3,001,590
  Principal
Amount
  Value
Automobile Manufacturers-1.08%
Allison Transmission, Inc., 3.75%, 01/30/2031(b)

$ 395,000   $393,588
Ford Motor Credit Co. LLC        
3.09%, 01/09/2023

  1,446,000   1,475,144
3.38%, 11/13/2025

  395,000   412,871
Hyundai Capital America        
5.75%, 04/06/2023(b)

  437,000   472,935
5.88%, 04/07/2025(b)

  221,000   256,705
2.00%, 06/15/2028(b)

  1,303,000   1,305,197
Kia Corp. (South Korea), 1.00%, 04/16/2024(b)

  1,586,000   1,597,114
Toyota Motor Credit Corp., 0.80%, 10/16/2025

  1,939,000   1,929,416
Volkswagen Group of America Finance LLC (Germany), 1.63%, 11/24/2027(b)

  993,000   997,880
        8,840,850
Biotechnology-0.12%
AbbVie, Inc., 2.30%, 11/21/2022

  928,000   951,262
Brewers-0.18%
Anadolu Efes Biracilik ve Malt Sanayii A.S. (Turkey), 3.38%, 06/29/2028(b)

  1,193,000   1,220,595
Anheuser-Busch InBev Worldwide, Inc. (Belgium), 4.50%, 06/01/2050

  211,000   262,461
        1,483,056
Broadcasting-0.03%
Fox Corp., 4.71%, 01/25/2029

  218,000   257,877
Building Products-0.41%
HP Communities LLC        
5.78%, 03/15/2046(b)

  150,000   181,014
5.86%, 09/15/2053(b)

  100,000   127,492
Masco Corp.        
1.50%, 02/15/2028(d)

  1,446,000   1,433,781
2.00%, 02/15/2031(d)

  330,000   326,871
3.13%, 02/15/2051

  755,000   769,918
Standard Industries, Inc., 3.38%, 01/15/2031(b)

  543,000   527,250
        3,366,326
Cable & Satellite-1.12%
CCO Holdings LLC/CCO Holdings Capital Corp.        
4.25%, 02/01/2031(b)

  193,000   199,031
4.50%, 06/01/2033(b)(d)

  546,000   569,104
Charter Communications Operating LLC/Charter Communications Operating Capital Corp.        
5.05%, 03/30/2029

  226,000   269,694
3.50%, 06/01/2041

  621,000   634,205
3.90%, 06/01/2052

  1,013,000   1,050,436
3.85%, 04/01/2061

  777,000   776,785
4.40%, 12/01/2061

  411,000   451,767
Comcast Corp.        
4.15%, 10/15/2028

  146,000   169,889
4.60%, 10/15/2038

  46,000   57,956
3.25%, 11/01/2039

  748,000   817,672
3.45%, 02/01/2050(d)

  599,000   670,134
2.80%, 01/15/2051

  289,000   286,883
4.95%, 10/15/2058

  47,000   66,592
Cox Communications, Inc.        
2.60%, 06/15/2031(b)

  790,000   814,388
2.95%, 10/01/2050(b)

  215,000   205,098
3.60%, 06/15/2051(b)

  2,022,000   2,161,180
        9,200,814
Casinos & Gaming-0.26%
Boyne USA, Inc., 4.75%, 05/15/2029(b)

  131,000   135,258
DraftKings, Inc., Conv., 0.00%, 03/15/2028(b)(e)

  1,567,000   1,381,310
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Casinos & Gaming-(continued)
International Game Technology PLC, 4.13%, 04/15/2026(b)

$ 389,000   $405,745
MGM China Holdings Ltd. (Macau), 5.38%, 05/15/2024(b)

  218,000   222,228
        2,144,541
Commodity Chemicals-0.06%
Axalta Coating Systems LLC, 3.38%, 02/15/2029(b)

  502,000   494,543
Computer & Electronics Retail-0.09%
Leidos, Inc., 2.30%, 02/15/2031

  555,000   551,992
Rent-A-Center, Inc., 6.38%, 02/15/2029(b)

  139,000   149,725
        701,717
Consumer Finance-0.17%
Ally Financial, Inc., Series C, 4.70%(f)(g)

  1,321,000   1,375,425
Copper-0.02%
Freeport-McMoRan, Inc., 4.38%, 08/01/2028

  141,000   149,751
Data Processing & Outsourced Services-0.59%
Fidelity National Information Services, Inc., 3.10%, 03/01/2041(d)

  300,000   315,796
PayPal Holdings, Inc.        
2.65%, 10/01/2026

  128,000   137,902
2.85%, 10/01/2029

  89,000   96,892
Square, Inc.        
2.75%, 06/01/2026(b)(d)

  1,833,000   1,876,671
3.50%, 06/01/2031(b)(d)

  1,664,000   1,728,771
StoneCo Ltd. (Brazil), 3.95%, 06/16/2028(b)

  690,000   685,932
        4,841,964
Department Stores-0.57%
Macy’s Retail Holdings LLC, 5.88%, 04/01/2029(b)(d)

  292,000   308,403
Macy’s, Inc., 8.38%, 06/15/2025(b)

  4,000,000   4,365,000
        4,673,403
Diversified Banks-5.13%
Africa Finance Corp. (Supranational), 4.38%, 04/17/2026(b)

  280,000   306,506
African Export-Import Bank (The) (Supranational)        
2.63%, 05/17/2026(b)(d)

  398,000   406,772
3.80%, 05/17/2031(b)

  500,000   518,490
Australia & New Zealand Banking Group Ltd. (Australia), 2.57%, 11/25/2035(b)(f)

  532,000   525,769
Banco Santander S.A. (Spain), 2.75%, 12/03/2030

  600,000   605,436
Bank of America Corp.        
2.69%, 04/22/2032(f)

  1,494,000   1,560,957
2.30%, 07/21/2032(f)

  977,000   986,922
2.68%, 06/19/2041(f)

  1,231,000   1,215,640
2.97%, 07/21/2052(f)

  1,587,000   1,603,970
BNP Paribas S.A. (France), 1.32%, 01/13/2027(b)(f)

  1,908,000   1,891,470
BPCE S.A. (France), 2.28%, 01/20/2032(b)(f)

  701,000   697,132
Citigroup, Inc.        
3.88%(f)(g)

  1,693,000   1,737,018
3.11%, 04/08/2026(f)

  339,000   363,194
3.98%, 03/20/2030(f)

  599,000   682,628
4.41%, 03/31/2031(f)

  284,000   333,724
2.57%, 06/03/2031(f)

  504,000   521,876
2.56%, 05/01/2032(d)(f)

  972,000   1,005,051
Series A, 5.95%(f)(g)

  293,000   308,088
Series P, 5.95%(f)(g)

  390,000   429,975
  Principal
Amount
  Value
Diversified Banks-(continued)
Citizens Bank N.A.        
0.95% (3 mo. USD LIBOR + 0.81%), 05/26/2022(h)

$ 250,000   $251,558
2.25%, 04/28/2025

  387,000   406,514
Commonwealth Bank of Australia (Australia)        
2.69%, 03/11/2031(b)(d)

  667,000   677,518
3.31%, 03/11/2041(b)

  337,000   354,699
Credit Agricole S.A. (France)        
1.91%, 06/16/2026(b)(f)

  250,000   255,975
7.88%(b)(f)(g)

  597,000   674,616
Federation des Caisses Desjardins du Quebec (Canada), 2.05%, 02/10/2025(b)

  662,000   688,227
HSBC Holdings PLC (United Kingdom)        
4.60%(f)(g)

  693,000   713,444
1.65%, 04/18/2026(f)

  303,000   307,638
2.80%, 05/24/2032(f)

  552,000   572,465
ING Groep N.V. (Netherlands)        
6.88%(b)(f)(g)

  446,000   462,571
1.06% (SOFR + 1.01%), 04/01/2027(h)

  1,516,000   1,531,096
JPMorgan Chase & Co.        
1.03% (3 mo. USD LIBOR + 0.89%), 07/23/2024(d)(h)

  169,000   171,482
2.08%, 04/22/2026(f)

  440,000   456,643
3.70%, 05/06/2030(f)

  599,000   673,930
2.58%, 04/22/2032(f)

  925,000   961,988
Mizuho Financial Group, Inc. (Japan)        
2.20%, 07/10/2031(f)

  907,000   914,742
2.17%, 05/22/2032(f)

  1,188,000   1,193,739
National Australia Bank Ltd. (Australia), 2.99%, 05/21/2031(b)

  656,000   675,221
Standard Chartered PLC (United Kingdom)        
1.46%, 01/14/2027(b)(f)

  1,519,000   1,513,531
2.68%, 06/29/2032(b)(f)

  1,244,000   1,263,265
3.27%, 02/18/2036(b)(f)

  1,002,000   1,014,804
7.50%(b)(d)(f)(g)

  2,068,000   2,145,953
7.75%(b)(f)(g)

  2,570,000   2,799,347
Sumitomo Mitsui Financial Group, Inc. (Japan)        
1.47%, 07/08/2025

  417,000   423,901
3.04%, 07/16/2029

  205,000   221,550
2.13%, 07/08/2030

  997,000   1,011,329
2.14%, 09/23/2030(d)

  785,000   772,700
U.S. Bancorp, 1.38%, 07/22/2030

  286,000   278,692
UniCredit S.p.A. (Italy)        
1.98%, 06/03/2027(b)(f)

  992,000   994,809
3.13%, 06/03/2032(b)(f)

  790,000   806,021
Wells Fargo & Co.        
4.15%, 01/24/2029

  599,000   692,615
Series BB, 3.90%(f)(g)

  537,000   557,817
        42,141,018
Diversified Capital Markets-0.85%
Credit Suisse Group AG (Switzerland)        
4.19%, 04/01/2031(b)(d)(f)

  383,000   436,719
3.09%, 05/14/2032(b)(f)

  446,000   466,035
4.50%(b)(d)(f)(g)

  1,010,000   1,007,071
5.10%(b)(d)(f)(g)

  492,000   508,605
5.25%(b)(f)(g)

  671,000   705,389
7.13%(b)(f)(g)

  2,158,000   2,250,190
7.50%(b)(f)(g)

  831,000   901,635
UBS Group AG (Switzerland), 4.38%(b)(d)(f)(g)

  714,000   737,205
        7,012,849
Diversified Chemicals-0.09%
OCP S.A. (Morocco)        
3.75%, 06/23/2031(b)(d)

  230,000   233,743
5.13%, 06/23/2051(b)

  508,000   519,471
        753,214
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Diversified Metals & Mining-0.16%
Corp. Nacional del Cobre de Chile (Chile), 3.15%, 01/15/2051(b)

$ 405,000   $392,028
FMG Resources August 2006 Pty. Ltd. (Australia), 4.38%, 04/01/2031(b)

  882,000   961,380
        1,353,408
Diversified REITs-0.36%
Atlantic Marine Corps Communities LLC, 5.34%, 12/01/2050(b)

  93,833   110,470
Brixmor Operating Partnership L.P., 4.05%, 07/01/2030

  266,000   302,967
Fort Benning Family Communities LLC, 5.81%, 01/15/2051(b)

  200,000   264,642
iStar, Inc., 4.75%, 10/01/2024

  603,000   640,211
Trust Fibra Uno (Mexico)        
4.87%, 01/15/2030(b)

  1,080,000   1,189,021
6.39%, 01/15/2050(b)

  385,000   459,022
        2,966,333
Diversified Support Services-0.34%
Atento Luxco 1 S.A. (Brazil), 8.00%, 02/10/2026(b)

  1,305,000   1,444,086
TransJamaican Highway Ltd. (Jamaica), 5.75%, 10/10/2036(b)

  1,360,816   1,355,216
        2,799,302
Drug Retail-0.45%
CK Hutchison International 21 Ltd. (United Kingdom), 1.50%, 04/15/2026(b)

  3,623,000   3,670,869
Electric Utilities-1.29%
Commonwealth Edison Co., Series 127, 3.20%, 11/15/2049

  399,000   433,653
Drax Finco PLC (United Kingdom), 6.63%, 11/01/2025(b)

  200,000   206,250
Duke Energy Progress LLC, 2.50%, 08/15/2050

  1,228,000   1,185,005
Enel Finance International N.V. (Italy)        
1.38%, 07/12/2026(b)

  924,000   930,135
1.88%, 07/12/2028(b)

  1,975,000   1,999,488
2.25%, 07/12/2031(b)

  1,280,000   1,298,978
2.88%, 07/12/2041(b)

  1,160,000   1,165,932
PacifiCorp, 2.90%, 06/15/2052

  2,083,000   2,133,393
Southern Co. (The)        
Series 2021-A, 3.75%, 09/15/2051(f)

  564,000   576,211
Series A, 3.70%, 04/30/2030(d)

  197,000   221,808
Vistra Operations Co. LLC, 4.38%, 05/01/2029(b)

  447,000   459,221
        10,610,074
Electrical Components & Equipment-0.56%
AES Andres B.V. (Dominican Republic), 5.70%, 05/04/2028(b)

  1,910,000   1,976,459
Sensata Technologies B.V., 4.00%, 04/15/2029(b)

  2,575,000   2,649,739
        4,626,198
Electronic Components-0.28%
Corning, Inc., 5.45%, 11/15/2079

  1,584,000   2,310,274
Electronic Equipment & Instruments-0.19%
Vontier Corp.        
1.80%, 04/01/2026(b)

  333,000   335,013
2.40%, 04/01/2028(b)

  666,000   670,136
2.95%, 04/01/2031(b)

  568,000   578,423
        1,583,572
Electronic Manufacturing Services-0.05%
Jabil, Inc., 3.00%, 01/15/2031

  384,000   397,326
  Principal
Amount
  Value
Environmental & Facilities Services-0.15%
GFL Environmental, Inc. (Canada), 3.50%, 09/01/2028(b)

$ 846,000   $849,993
Republic Services, Inc., 0.88%, 11/15/2025

  397,000   394,671
        1,244,664
Financial Exchanges & Data-0.15%
MSCI, Inc.        
3.88%, 02/15/2031(b)(d)

  334,000   355,336
3.63%, 11/01/2031(b)(d)

  644,000   681,706
S&P Global, Inc., 1.25%, 08/15/2030

  240,000   231,029
        1,268,071
Food Distributors-0.16%
American Builders & Contractors Supply Co., Inc., 3.88%, 11/15/2029(b)

  1,285,000   1,280,310
Food Retail-0.40%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s L.P./Albertson’s LLC, 3.50%, 02/15/2023(b)

  584,000   599,496
Alimentation Couche-Tard, Inc. (Canada)        
3.44%, 05/13/2041(b)(d)

  1,194,000   1,266,227
3.63%, 05/13/2051(b)

  1,304,000   1,413,216
        3,278,939
Forest Products-0.20%
Suzano Austria GmbH (Brazil), 3.13%, 01/15/2032

  1,667,000   1,654,081
Health Care Distributors-0.05%
Owens & Minor, Inc., 4.50%, 03/31/2029(b)

  408,000   418,724
Health Care REITs-0.24%
Diversified Healthcare Trust, 4.38%, 03/01/2031

  497,000   485,825
Healthcare Trust of America Holdings L.P., 2.00%, 03/15/2031

  288,000   285,417
Healthpeak Properties, Inc., 2.88%, 01/15/2031

  166,000   177,264
Omega Healthcare Investors, Inc., 3.25%, 04/15/2033(d)

  898,000   918,395
Welltower, Inc., 3.10%, 01/15/2030

  73,000   78,791
        1,945,692
Health Care Services-0.43%
CVS Health Corp.        
1.30%, 08/21/2027

  587,000   583,380
2.70%, 08/21/2040

  464,000   462,960
Fresenius Medical Care US Finance III, Inc. (Germany), 1.88%, 12/01/2026(b)

  1,775,000   1,802,579
Mayo Clinic, Series 2021, 3.20%, 11/15/2061

  613,000   689,081
        3,538,000
Home Improvement Retail-0.25%
Lowe’s Cos., Inc.        
2.63%, 04/01/2031

  739,000   777,158
3.50%, 04/01/2051(d)

  1,133,000   1,246,802
        2,023,960
Homebuilding-0.76%
Lennar Corp.        
4.75%, 11/15/2022

  1,370,000   1,428,232
4.75%, 11/29/2027(d)

  2,387,000   2,787,324
M.D.C. Holdings, Inc., 3.85%, 01/15/2030

  1,036,000   1,129,406
Mattamy Group Corp. (Canada)        
5.25%, 12/15/2027(b)

  698,000   728,206
4.63%, 03/01/2030(b)

  200,000   207,931
        6,281,099
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Hotel & Resort REITs-0.02%
Service Properties Trust, 5.25%, 02/15/2026

$ 180,000   $181,921
Hotels, Resorts & Cruise Lines-0.51%
Expedia Group, Inc.        
4.63%, 08/01/2027

  2,097,000   2,394,015
2.95%, 03/15/2031

  691,000   709,616
Hilton Domestic Operating Co., Inc., 3.63%, 02/15/2032(b)

  575,000   574,365
Marriott Ownership Resorts, Inc., 4.75%, 01/15/2028

  474,000   480,257
        4,158,253
Independent Power Producers & Energy Traders-0.46%
AES Corp. (The)        
1.38%, 01/15/2026(b)

  895,000   894,239
2.45%, 01/15/2031(b)

  510,000   515,903
Calpine Corp., 3.75%, 03/01/2031(b)

  985,000   949,422
EnfraGen Energia Sur S.A./EnfraGen Spain S.A./Prime Energia S.p.A. (Spain), 5.38%, 12/30/2030(b)

  1,450,000   1,449,927
        3,809,491
Industrial Conglomerates-0.07%
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/2035

  273,000   334,953
General Electric Co., 5.55%, 01/05/2026

  230,000   274,570
        609,523
Industrial Machinery-0.16%
IDEX Corp., 2.63%, 06/15/2031

  1,230,000   1,278,625
Industrial REITs-0.16%
Duke Realty L.P., 2.88%, 11/15/2029

  1,250,000   1,339,584
Insurance Brokers-0.13%
Arthur J. Gallagher & Co.        
2.50%, 05/20/2031

  391,000   396,753
3.50%, 05/20/2051

  582,000   636,802
        1,033,555
Integrated Oil & Gas-1.52%
BP Capital Markets America, Inc.        
3.06%, 06/17/2041

  1,576,000   1,625,263
2.94%, 06/04/2051

  1,564,000   1,535,368
Gray Oak Pipeline LLC, 2.60%, 10/15/2025(b)

  486,000   504,411
Petrobras Global Finance B.V. (Brazil), 5.50%, 06/10/2051

  1,516,000   1,493,048
Petronas Capital Ltd. (Malaysia)        
2.48%, 01/28/2032(b)

  922,000   931,271
3.40%, 04/28/2061(b)

  1,716,000   1,776,572
Qatar Petroleum (Qatar)        
2.25%, 07/12/2031(b)(d)

  664,000   672,882
3.13%, 07/12/2041(b)

  685,000   711,701
3.30%, 07/12/2051(b)(d)

  1,070,000   1,111,269
SA Global Sukuk Ltd. (Saudi Arabia)        
0.95%, 06/17/2024(b)

  337,000   336,978
1.60%, 06/17/2026(b)

  541,000   541,860
2.69%, 06/17/2031(b)

  684,000   702,403
Saudi Arabian Oil Co. (Saudi Arabia)        
3.25%, 11/24/2050(b)

  215,000   210,810
3.50%, 11/24/2070(b)

  360,000   352,085
        12,505,921
  Principal
Amount
  Value
Integrated Telecommunication Services-1.29%
AT&T, Inc.        
1.30% (3 mo. USD LIBOR + 1.18%), 06/12/2024(h)

$ 82,000   $84,091
3.10%, 02/01/2043

  446,000   445,903
3.50%, 09/15/2053(b)

  673,000   696,316
3.55%, 09/15/2055(b)

  289,000   298,884
3.50%, 02/01/2061

  286,000   286,111
Level 3 Financing, Inc., 3.75%, 07/15/2029(b)

  1,000,000   981,280
T-Mobile USA, Inc.        
2.25%, 02/15/2026(b)

  1,000,000   1,012,620
2.63%, 04/15/2026(d)

  1,018,000   1,045,125
2.63%, 02/15/2029

  1,332,000   1,334,104
Verizon Communications, Inc.        
0.85%, 11/20/2025

  581,000   578,005
3.88%, 02/08/2029

  300,000   344,292
1.75%, 01/20/2031

  356,000   345,683
2.55%, 03/21/2031

  386,000   401,073
2.65%, 11/20/2040

  321,000   314,324
3.40%, 03/22/2041

  422,000   456,571
2.88%, 11/20/2050

  378,000   368,714
3.55%, 03/22/2051

  187,000   203,895
3.00%, 11/20/2060

  880,000   853,747
3.70%, 03/22/2061

  516,000   571,435
        10,622,173
Interactive Home Entertainment-0.39%
Electronic Arts, Inc.        
1.85%, 02/15/2031

  843,000   836,934
2.95%, 02/15/2051

  828,000   828,744
WMG Acquisition Corp., 3.00%, 02/15/2031(b)

  1,576,000   1,528,830
        3,194,508
Interactive Media & Services-0.42%
Alphabet, Inc., 2.25%, 08/15/2060

  387,000   351,866
Baidu, Inc. (China)        
3.08%, 04/07/2025

  210,000   223,274
1.72%, 04/09/2026

  235,000   237,384
Match Group Holdings II LLC        
4.63%, 06/01/2028(b)

  215,000   226,225
5.63%, 02/15/2029(b)

  339,000   371,758
Tencent Holdings Ltd. (China), 1.81%, 01/26/2026(b)

  200,000   203,997
Twitter, Inc., 3.88%, 12/15/2027(b)(d)

  1,746,000   1,869,739
        3,484,243
Internet & Direct Marketing Retail-1.64%
Amazon.com, Inc.        
1.00%, 05/12/2026(d)

  1,587,000   1,602,154
1.65%, 05/12/2028

  1,248,000   1,275,012
2.10%, 05/12/2031

  2,196,000   2,269,833
2.88%, 05/12/2041

  2,772,000   2,919,649
3.10%, 05/12/2051

  3,378,000   3,642,479
3.25%, 05/12/2061

  835,000   912,118
Meituan (China), 2.13%, 10/28/2025(b)(d)

  870,000   845,674
        13,466,919
Internet Services & Infrastructure-0.62%
Twilio, Inc.        
3.63%, 03/15/2029

  848,000   869,743
3.88%, 03/15/2031

  844,000   883,883
VeriSign, Inc., 2.70%, 06/15/2031

  671,000   695,377
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/2029(b)(d)

  2,685,000   2,685,618
        5,134,621
Investment Banking & Brokerage-1.89%
Brookfield Finance I (UK) PLC (Canada), 2.34%, 01/30/2032

  1,200,000   1,212,995
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Investment Banking & Brokerage-(continued)
Brookfield Finance, Inc. (Canada)        
2.72%, 04/15/2031

$ 645,000   $677,894
3.50%, 03/30/2051

  1,057,000   1,127,581
Goldman Sachs Group, Inc. (The)        
0.62% (SOFR + 0.58%), 03/08/2024(h)

  1,402,000   1,406,424
3.50%, 04/01/2025

  296,000   321,496
0.84% (SOFR + 0.79%), 12/09/2026(d)(h)

  1,172,000   1,172,976
1.09%, 12/09/2026(f)

  497,000   494,037
0.86% (SOFR + 0.81%), 03/09/2027(d)(h)

  1,987,000   1,989,988
1.99%, 01/27/2032(d)(f)

  568,000   559,746
2.62%, 04/22/2032(f)

  363,000   375,684
2.38%, 07/21/2032(f)

  971,000   986,650
3.21%, 04/22/2042(f)

  381,000   403,576
2.91%, 07/21/2042(f)

  771,000   783,117
Morgan Stanley        
2.19%, 04/28/2026(f)

  221,000   229,525
2.24%, 07/21/2032(f)

  1,612,000   1,625,516
3.22%, 04/22/2042(f)

  263,000   283,218
2.80%, 01/25/2052(f)

  343,000   340,678
National Securities Clearing Corp., 1.50%, 04/23/2025(b)

  265,000   271,764
Nomura Holdings, Inc. (Japan), 2.61%, 07/14/2031

  745,000   756,563
Raymond James Financial, Inc., 3.75%, 04/01/2051

  422,000   475,188
        15,494,616
Life & Health Insurance-1.62%
American Equity Investment Life Holding Co., 5.00%, 06/15/2027

  752,000   860,079
Athene Global Funding        
1.20%, 10/13/2023(b)

  617,000   625,171
2.50%, 01/14/2025(b)

  1,257,000   1,320,356
1.45%, 01/08/2026(b)

  378,000   381,799
Athene Holding Ltd.        
6.15%, 04/03/2030

  317,000   406,861
3.95%, 05/25/2051(d)

  200,000   228,692
Belrose Funding Trust, 2.33%, 08/15/2030(b)(d)

  405,000   406,876
Delaware Life Global Funding, Series 21-1, 2.66%, 06/29/2026(b)

  4,125,000   4,208,737
MAG Mutual Holding Co., 4.75%, 04/30/2041(i)

  3,179,000   3,179,000
MetLife, Inc., 9.25%, 04/08/2038(b)

  350,000   535,374
Nationwide Financial Services, Inc., 3.90%, 11/30/2049(b)

  182,000   208,693
Pacific LifeCorp, 3.35%, 09/15/2050(b)

  363,000   397,151
Penn Mutual Life Insurance Co. (The), 3.80%, 04/29/2061(b)

  275,000   294,190
Western & Southern Life Insurance Co. (The), 3.75%, 04/28/2061(b)

  255,000   283,538
        13,336,517
Life Sciences Tools & Services-0.21%
Illumina, Inc., 2.55%, 03/23/2031

  1,683,000   1,742,207
Managed Health Care-0.98%
Centene Corp., 2.50%, 03/01/2031

  3,867,000   3,877,499
Kaiser Foundation Hospitals        
Series 2021, 2.81%, 06/01/2041

  1,760,000   1,845,815
Series 2021, 3.00%, 06/01/2051

  2,180,000   2,311,679
        8,034,993
  Principal
Amount
  Value
Metal & Glass Containers-0.06%
Intertape Polymer Group, Inc. (Canada), 4.38%, 06/15/2029(b)

$ 107,000   $109,702
Silgan Holdings, Inc., 1.40%, 04/01/2026(b)

  404,000   402,529
        512,231
Movies & Entertainment-0.10%
Tencent Music Entertainment Group (China)        
1.38%, 09/03/2025

  250,000   247,289
2.00%, 09/03/2030

  590,000   567,767
        815,056
Multi-line Insurance-0.13%
American International Group, Inc., 3.40%, 06/30/2030

  420,000   464,921
Fairfax Financial Holdings Ltd. (Canada)        
4.63%, 04/29/2030

  292,000   339,215
3.38%, 03/03/2031(b)

  281,000   299,968
        1,104,104
Multi-Utilities-0.19%
Dominion Energy, Inc., Series C, 3.38%, 04/01/2030

  240,000   266,137
WEC Energy Group, Inc.        
1.38%, 10/15/2027

  662,000   658,079
1.80%, 10/15/2030

  628,000   614,727
        1,538,943
Office REITs-0.14%
Alexandria Real Estate Equities, Inc., 4.00%, 02/01/2050(d)

  79,000   94,102
Boston Properties L.P., 3.25%, 01/30/2031

  179,000   194,981
Office Properties Income Trust        
4.50%, 02/01/2025

  570,000   618,643
2.65%, 06/15/2026

  197,000   202,776
        1,110,502
Oil & Gas Exploration & Production-1.21%
Canadian Natural Resources Ltd. (Canada), 2.05%, 07/15/2025

  455,000   469,343
ConocoPhillips, 2.40%, 02/15/2031(b)

  4,000   4,177
EQT Corp., 3.13%, 05/15/2026(b)

  196,000   202,150
Galaxy Pipeline Assets Bidco Ltd. (United Arab Emirates)        
2.16%, 03/31/2034(b)(d)

  1,816,000   1,802,599
2.94%, 09/30/2040(b)

  2,267,000   2,288,122
Gazprom PJSC via Gaz Finance PLC (Russia), 2.95%, 01/27/2029(b)

  2,875,000   2,823,871
Lundin Energy Finance B.V. (Netherlands)        
2.00%, 07/15/2026(b)

  779,000   788,185
3.10%, 07/15/2031(b)

  779,000   796,621
Murphy Oil Corp., 6.38%, 07/15/2028

  700,000   741,030
        9,916,098
Oil & Gas Refining & Marketing-0.07%
Parkland Corp. (Canada), 4.50%, 10/01/2029(b)

  587,000   604,610
Oil & Gas Storage & Transportation-1.41%
Crestwood Midstream Partners L.P./Crestwood Midstream Finance Corp., 6.00%, 02/01/2029(b)

  282,000   293,668
Energy Transfer L.P.        
5.50%, 06/01/2027

  2,115,000   2,512,801
6.00%, 06/15/2048

  42,000   53,551
Series 20Y, 5.80%, 06/15/2038

  42,000   52,267
Kinder Morgan, Inc., 7.80%, 08/01/2031

  1,815,000   2,630,166
MPLX L.P., 1.75%, 03/01/2026

  1,132,000   1,150,873
NGPL PipeCo LLC, 7.77%, 12/15/2037(b)

  1,148,000   1,680,213
Northern Natural Gas Co., 3.40%, 10/16/2051(b)

  1,288,000   1,362,910
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Oil & Gas Storage & Transportation-(continued)
ONEOK, Inc., 6.35%, 01/15/2031

$ 741,000   $964,433
Western Midstream Operating L.P., 2.23% (3 mo. USD LIBOR + 2.10%), 01/13/2023(h)

  917,000   912,218
        11,613,100
Other Diversified Financial Services-2.80%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust (Ireland)        
4.50%, 09/15/2023

  442,000   473,197
1.75%, 01/30/2026(d)

  1,560,000   1,551,707
AMC East Communities LLC, 6.01%, 01/15/2053(b)

  187,985   231,662
Aragvi Finance International DAC (Moldova), 8.45%, 04/29/2026(b)

  886,000   923,425
Avolon Holdings Funding Ltd. (Ireland)        
2.13%, 02/21/2026(b)

  525,000   527,935
4.25%, 04/15/2026(b)

  279,000   305,215
2.75%, 02/21/2028(b)

  556,000   561,566
Blackstone Holdings Finance Co. LLC        
1.60%, 03/30/2031(b)

  524,000   508,588
2.80%, 09/30/2050(b)

  241,000   243,004
Blackstone Secured Lending Fund        
2.75%, 09/16/2026

  1,558,000   1,597,401
2.13%, 02/15/2027(b)

  1,348,000   1,332,047
Blue Owl Finance LLC, 3.13%, 06/10/2031(b)

  1,727,000   1,748,074
KKR Group Finance Co. VIII LLC, 3.50%, 08/25/2050(b)

  211,000   229,210
LSEGA Financing PLC (United Kingdom)        
1.38%, 04/06/2026(b)

  729,000   734,126
2.00%, 04/06/2028(b)

  677,000   694,422
2.50%, 04/06/2031(b)

  352,000   366,071
3.20%, 04/06/2041(b)

  559,000   599,944
Mexico Remittances Funding Fiduciary Estate Management S.a.r.l. (Mexico), 4.88%, 01/15/2028(b)

  496,000   488,510
Mid-Atlantic Military Family Communities LLC, 5.30%, 08/01/2050(b)

  224,727   249,887
Pacific Beacon LLC        
5.38%, 07/15/2026(b)

  70,688   78,248
5.51%, 07/15/2036(b)

  500,000   596,784
Pershing Square Holdings Ltd. (Guernsey), 3.25%, 11/15/2030(b)

  1,000,000   1,034,380
Temasek Financial I Ltd. (Singapore)        
2.38%, 08/02/2041(b)(j)

  4,000,000   3,969,800
2.75%, 08/02/2061(b)(j)

  4,000,000   3,962,697
        23,007,900
Packaged Foods & Meats-0.44%
JBS Finance Luxembourg S.a.r.l., 3.63%, 01/15/2032(b)(d)

  924,000   928,564
Minerva Luxembourg S.A. (Brazil), 4.38%, 03/18/2031(b)(d)

  2,693,000   2,649,239
        3,577,803
Paper Packaging-0.58%
Berry Global, Inc.        
0.95%, 02/15/2024(b)

  1,515,000   1,520,681
4.88%, 07/15/2026(b)

  1,427,000   1,509,281
1.65%, 01/15/2027(b)

  1,369,000   1,370,178
Cascades, Inc./Cascades USA, Inc. (Canada), 5.38%, 01/15/2028(b)

  362,000   381,488
        4,781,628
Paper Products-0.06%
Mercer International, Inc. (Germany), 5.13%, 02/01/2029

  503,000   513,689
Pharmaceuticals-0.37%
AdaptHealth LLC, 4.63%, 08/01/2029(b)(d)

  817,000   814,945
  Principal
Amount
  Value
Pharmaceuticals-(continued)
Organon & Co./Organon Foreign Debt Co-Issuer B.V., 4.13%, 04/30/2028(b)

$ 1,120,000   $1,149,921
Royalty Pharma PLC        
2.15%, 09/02/2031

  530,000   522,058
3.35%, 09/02/2051

  530,000   519,182
        3,006,106
Property & Casualty Insurance-0.33%
Fidelity National Financial, Inc.        
3.40%, 06/15/2030

  222,000   242,818
2.45%, 03/15/2031

  379,000   382,452
First American Financial Corp.        
4.30%, 02/01/2023

  195,000   205,407
2.40%, 08/15/2031(j)

  994,000   984,289
W.R. Berkley Corp.        
4.00%, 05/12/2050

  195,000   228,432
3.55%, 03/30/2052

  612,000   665,891
        2,709,289
Real Estate Development-0.31%
Arabian Centres Sukuk II Ltd. (Saudi Arabia), 5.63%, 10/07/2026(b)

  1,483,000   1,541,831
Essential Properties L.P., 2.95%, 07/15/2031

  768,000   778,252
Piedmont Operating Partnership L.P., 3.15%, 08/15/2030

  240,000   249,035
        2,569,118
Regional Banks-0.75%
Citizens Financial Group, Inc.        
2.50%, 02/06/2030

  260,000   269,963
Series G, 4.00%(f)(g)

  1,750,000   1,785,000
Fifth Third Bancorp        
2.38%, 01/28/2025

  309,000   324,863
2.55%, 05/05/2027

  188,000   200,610
KeyCorp, 2.25%, 04/06/2027

  378,000   395,577
SVB Financial Group        
2.10%, 05/15/2028

  551,000   566,039
1.80%, 02/02/2031

  726,000   706,134
Series C, 4.00%(f)(g)

  1,880,000   1,957,550
        6,205,736
Reinsurance-0.42%
Berkshire Hathaway Finance Corp., 2.85%, 10/15/2050

  382,000   391,977
Global Atlantic Fin Co.        
4.40%, 10/15/2029(b)

  407,000   454,288
3.13%, 06/15/2031(b)

  653,000   668,730
4.70%, 10/15/2051(b)(f)

  1,948,000   1,978,695
        3,493,690
Residential REITs-0.20%
American Homes 4 Rent L.P.        
2.38%, 07/15/2031

  260,000   263,425
3.38%, 07/15/2051

  256,000   265,314
Spirit Realty L.P.        
2.10%, 03/15/2028

  309,000   312,601
3.40%, 01/15/2030

  199,000   215,355
2.70%, 02/15/2032

  310,000   314,109
VEREIT Operating Partnership L.P., 2.20%, 06/15/2028

  266,000   274,772
        1,645,576
Restaurants-0.11%
1011778 BC ULC/New Red Finance, Inc. (Canada), 4.00%, 10/15/2030(b)

  882,000   880,898
Retail REITs-0.35%
Agree L.P.        
2.00%, 06/15/2028

  418,000   421,490
2.60%, 06/15/2033

  547,000   555,313
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Retail REITs-(continued)
Kimco Realty Corp.        
1.90%, 03/01/2028(d)

$ 413,000   $417,200
2.70%, 10/01/2030

  214,000   223,665
National Retail Properties, Inc., 3.50%, 04/15/2051

  611,000   660,879
Realty Income Corp., 3.25%, 01/15/2031

  274,000   303,995
Retail Properties of America, Inc., 4.75%, 09/15/2030

  237,000   267,755
        2,850,297
Semiconductors-0.74%
Broadcom, Inc.        
5.00%, 04/15/2030

  428,000   511,145
2.45%, 02/15/2031(b)

  365,000   363,473
4.30%, 11/15/2032

  386,000   445,898
3.42%, 04/15/2033(b)

  730,000   779,007
3.47%, 04/15/2034(b)

  1,847,000   1,966,537
Marvell Technology, Inc., 2.95%, 04/15/2031(b)

  1,187,000   1,240,137
Micron Technology, Inc.        
4.98%, 02/06/2026

  37,000   42,850
4.19%, 02/15/2027

  166,000   188,474
Skyworks Solutions, Inc.        
1.80%, 06/01/2026

  181,000   184,366
3.00%, 06/01/2031

  366,000   383,846
        6,105,733
Soft Drinks-0.16%
Coca-Cola Europacific Partners PLC (United Kingdom), 1.50%, 01/15/2027(b)

  698,000   699,102
Fomento Economico Mexicano, S.A.B. de C.V. (Mexico), 3.50%, 01/16/2050

  582,000   625,298
        1,324,400
Sovereign Debt-2.62%
Brazilian Government International Bond (Brazil)        
3.75%, 09/12/2031(d)

  2,785,000   2,757,150
4.75%, 01/14/2050

  1,449,000   1,394,373
Dominican Republic International Bond (Dominican Republic), 5.30%, 01/21/2041(b)

  560,000   567,706
Egypt Government International Bond (Egypt)        
5.25%, 10/06/2025(b)(d)

  1,415,000   1,487,612
3.88%, 02/16/2026(b)

  842,000   822,877
5.88%, 02/16/2031(b)(d)

  689,000   665,057
7.50%, 02/16/2061(b)

  2,891,000   2,699,847
Ghana Government International Bond (Ghana), 7.75%, 04/07/2029(b)

  1,581,000   1,596,420
Morocco Government International Bond (Morocco)        
2.38%, 12/15/2027(b)

  585,000   577,688
4.00%, 12/15/2050(b)

  365,000   343,696
Oman Government International Bond (Oman)        
4.88%, 02/01/2025(b)

  245,000   256,657
6.25%, 01/25/2031(b)

  795,000   860,762
7.00%, 01/25/2051(b)

  295,000   305,845
Paraguay Government International Bond (Paraguay), 5.40%, 03/30/2050(b)

  1,200,000   1,417,512
Perusahaan Penerbit SBSN Indonesia III (Indonesia), 3.55%, 06/09/2051(b)

  1,886,000   1,916,798
Qatar Government International Bond (Qatar), 3.38%, 03/14/2024(b)

  200,000   214,287
Turkey Government International Bond (Turkey)        
5.60%, 11/14/2024

  2,500,000   2,583,490
4.75%, 01/26/2026

  1,065,000   1,054,545
        21,522,322
  Principal
Amount
  Value
Specialized Finance-0.12%
Mitsubishi HC Capital, Inc. (Japan), 3.64%, 04/13/2025(b)(d)

$ 894,000   $970,240
Specialized REITs-0.79%
American Tower Corp.        
2.70%, 04/15/2031

  1,158,000   1,214,831
3.10%, 06/15/2050

  413,000   417,685
Crown Castle International Corp., 2.50%, 07/15/2031

  1,445,000   1,480,791
Extra Space Storage L.P., 2.55%, 06/01/2031

  503,000   515,845
SBA Communications Corp.        
3.88%, 02/15/2027(d)

  1,407,000   1,452,826
3.13%, 02/01/2029(b)

  1,421,000   1,397,564
        6,479,542
Specialty Chemicals-0.67%
Braskem Idesa S.A.P.I. (Mexico), 7.45%, 11/15/2029(b)

  289,000   299,526
Sasol Financing USA LLC (South Africa)        
4.38%, 09/18/2026

  1,785,000   1,833,275
5.50%, 03/18/2031

  3,250,000   3,393,000
        5,525,801
Steel-0.09%
SunCoke Energy, Inc., 4.88%, 06/30/2029(b)

  694,000   701,051
Systems Software-0.54%
Clarivate Science Holdings Corp.        
3.88%, 06/30/2028(b)

  1,154,000   1,165,078
4.88%, 06/30/2029(b)

  306,000   309,005
Crowdstrike Holdings, Inc., 3.00%, 02/15/2029

  1,665,000   1,692,264
Oracle Corp., 3.60%, 04/01/2050

  545,000   570,288
VMware, Inc., 2.20%, 08/15/2031(j)

  705,000   705,166
        4,441,801
Technology Hardware, Storage & Peripherals-0.25%
Apple, Inc.        
2.65%, 05/11/2050

  373,000   368,466
2.80%, 02/08/2061

  1,672,000   1,667,247
        2,035,713
Tobacco-0.74%
Altria Group, Inc.        
2.45%, 02/04/2032

  717,000   705,559
3.70%, 02/04/2051

  1,540,000   1,507,266
4.00%, 02/04/2061

  2,540,000   2,510,120
BAT Capital Corp. (United Kingdom), 2.26%, 03/25/2028

  321,000   323,259
Philip Morris International, Inc., 0.88%, 05/01/2026

  1,065,000   1,057,786
        6,103,990
Trading Companies & Distributors-0.04%
Aircastle Ltd., 4.40%, 09/25/2023

  300,000   321,075
Trucking-0.81%
Aviation Capital Group LLC, 4.13%, 08/01/2025(b)

  61,000   66,413
SMBC Aviation Capital Finance DAC (Ireland), 4.13%, 07/15/2023(b)

  204,000   216,550
Triton Container International Ltd. (Bermuda)        
1.15%, 06/07/2024(b)

  257,000   257,795
2.05%, 04/15/2026(b)

  1,176,000   1,194,101
3.15%, 06/15/2031(b)

  4,818,000   4,922,919
        6,657,778
Wireless Telecommunication Services-0.92%
NBN Co. Ltd. (Australia), 2.63%, 05/05/2031(b)

  1,360,000   1,412,528
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Wireless Telecommunication Services-(continued)
VEON Holdings B.V. (Netherlands), 3.38%, 11/25/2027(b)

$ 1,510,000   $1,525,621
Vodafone Group PLC (United Kingdom)        
3.25%, 06/04/2081(d)(f)

  691,000   703,251
4.13%, 06/04/2081(f)

  1,043,000   1,056,601
5.13%, 06/04/2081(f)

  1,195,000   1,228,221
Xiaomi Best Time International Ltd. (China)        
2.88%, 07/14/2031(b)(d)

  1,062,000   1,063,733
4.10%, 07/14/2051(b)(d)

  539,000   549,570
        7,539,525
Total U.S. Dollar Denominated Bonds & Notes

(Cost $405,740,715)

  417,260,373
U.S. Treasury Securities-23.75%
U.S. Treasury Bills-0.36%(k)
0.04%, 11/18/2021(l)

  2,976,000   2,975,576
U.S. Treasury Bonds-4.09%
2.25%, 05/15/2041

  685,700   735,842
1.88%, 02/15/2051

  33,140,500   32,876,411
        33,612,253
U.S. Treasury Notes-19.30%
0.13%, 06/30/2023(d)

  253,000   252,837
0.38%, 07/15/2024

  1,190,200   1,191,269
0.88%, 06/30/2026

  77,900,500   78,594,301
1.25%, 06/30/2028

  28,828,500   29,314,981
1.63%, 05/15/2031

  47,563,800   49,254,545
        158,607,933
Total U.S. Treasury Securities

(Cost $189,312,536)

  195,195,762
Asset-Backed Securities-13.77%
Angel Oak Mortgage Trust        
Series 2019-3, Class A1, 2.93%, 05/25/2059(b)(m)

  849,117   854,114
Series 2020-1, Class A1, 2.16%, 12/25/2059(b)(m)

  218,957   220,175
Series 2020-3, Class A1, 1.69%, 04/25/2065(b)(m)

  664,170   670,770
Series 2021-3, Class A1, 1.07%, 05/25/2066(b)(m)

  2,331,748   2,337,697
Angel Oak Mortgage Trust LLC, Series 2020-5, Class A1, 1.37%, 05/25/2065(b)(m)

  889,909   894,250
Bain Capital Credit CLO Ltd. (Cayman Islands), Series 2017-2A, Class AR2, 1.32% (3 mo. USD LIBOR + 1.18%), 07/25/2034(b)(h)

  3,000,000   3,000,143
Bear Stearns Asset Backed Securities I Trust, Series 2006-HE9, Class 2A, 0.23% (1 mo. USD LIBOR + 0.14%), 11/25/2036(h)

  226,251   223,075
Benchmark Mortgage Trust        
Series 2018-B3, Class C, 4.56%, 04/10/2051(m)

  2,500,000   2,808,990
Series 2019-B14, Class A5, 3.05%, 12/15/2062

  2,000,000   2,196,082
Series 2019-B14, Class C, 3.78%, 12/15/2062(m)

  930,000   999,988
Series 2019-B15, Class B, 3.56%, 12/15/2072

  2,000,000   2,208,799
Series 2019-B9, Class C, 4.97%, 03/15/2052(m)

  3,369,000   3,929,174
Series 2020-B17, Class C, 3.37%, 03/15/2053(m)

  3,000,000   3,164,297
Chase Home Lending Mortgage Trust, Series 2019-ATR2, Class A3, 3.50%, 07/25/2049(b)(m)

  169,911   174,749
  Principal
Amount
  Value
CIFC Funding Ltd. (Cayman Islands), Series 2014-5A, Class A1R2, 1.33% (3 mo. USD LIBOR + 1.20%), 10/17/2031(b)(h)

$ 1,281,000   $1,282,669
Citigroup Commercial Mortgage Trust, Series 2014-GC23, Class B, 4.18%, 07/10/2047(m)

  184,000   197,609
Citigroup Mortgage Loan Trust, Inc., Series 2019-IMC1, Class A1, 2.72%, 07/25/2049(b)(m)

  125,463   126,919
COLT Mortgage Loan Trust        
Series 2020-1, Class A1, 2.49%, 02/25/2050(b)(m)

  1,429,297   1,436,979
Series 2020-1R, Class A1, 1.26%, 09/25/2065(b)(m)

  282,554   283,718
Series 2020-2, Class A1, 1.85%, 03/25/2065(b)(m)

  261,864   263,437
Credit Suisse Mortgage Capital Ctfs., Series 2020-SPT1, Class A1, 1.62%, 04/25/2065(b)(c)

  491,861   494,678
Credit Suisse Mortgage Trust        
Series 2021-NQM1, Class A1, 0.81%, 05/25/2065(b)(m)

  1,087,975   1,090,136
Series 2021-NQM2, Class A1, 1.18%, 02/25/2066(b)(m)

  527,816   528,492
CSAIL Commercial Mortgage Trust, Series 2020-C19, Class A3, 2.56%, 03/15/2053

  1,459,000   1,535,696
Deephaven Residential Mortgage Trust, Series 2019-4A, Class A1, 2.79%, 10/25/2059(b)(m)

  1,037,999   1,046,105
Domino’s Pizza Master Issuer LLC, Series 2019-1A, Class A2, 3.67%, 10/25/2049(b)

  1,970,000   2,151,665
DT Auto Owner Trust        
Series 2019-3A, Class C, 2.74%, 04/15/2025(b)

  150,000   151,704
Series 2019-3A, Class D, 2.96%, 04/15/2025(b)

  214,000   221,158
Ellington Financial Mortgage Trust        
Series 2019-2, Class A1, 2.74%, 11/25/2059(b)(m)

  563,166   574,267
Series 2020-1, Class A1, 2.01%, 05/25/2065(b)(m)

  133,337   135,116
Series 2021-1, Class A1, 0.80%, 02/25/2066(b)(m)

  714,838   713,695
Extended Stay America Trust, Series 2021-ESH, Class B, 1.47% (1 mo. USD LIBOR + 1.38%), 07/15/2038(b)(h)

  695,000   698,930
FREMF Mortgage Trust, Series 2013-K29, Class X2A, IO, 0.13%, 05/25/2046(b)(n)

  26,935,341   37,203
Galton Funding Mortgage Trust, Series 2019-H1, Class A1, 2.66%, 10/25/2059(b)(m)

  255,100   259,537
GCAT Trust        
Series 2019-NQM2, Class A1, 2.86%, 09/25/2059(b)(c)

  425,751   428,462
Series 2019-NQM3, Class A1, 2.69%, 11/25/2059(b)(m)

  678,497   696,922
GoldenTree Loan Management US CLO 1 Ltd. (Cayman Islands), Series 2021-9A, Class A, 1.20% (3 mo. USD LIBOR + 1.07%), 01/20/2033(b)(h)

  4,000,000   4,009,321
GoldenTree Loan Management US CLO 2 Ltd. (Cayman Islands), Series 2017-2A, Class A, 1.28% (3 mo. USD LIBOR + 1.15%), 11/28/2030(b)(h)

  2,000,000   2,002,365
GS Mortgage Securities Corp. Trust, Series 2017-STAY, Class C, 1.94% (1 mo. USD LIBOR + 1.60%), 07/15/2032(b)(h)

  500,000   499,673
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
GS Mortgage Securities Trust        
Series 2013-GC14, Class B, 4.74%, 08/10/2046(b)(m)

$ 325,000   $346,144
Series 2020-GC45, Class A5, 2.91%, 02/13/2053

  1,560,000   1,695,180
Series 2020-GC47, Class A5, 2.38%, 05/12/2053

  1,530,000   1,599,226
Hertz Vehicle Financing III L.P.        
Series 2021-2A, Class A, 1.68%, 12/27/2027(b)

  539,000   547,332
Series 2021-2A, Class B, 2.12%, 12/27/2027(b)

  286,000   290,909
Hertz Vehicle Financing LLC        
Series 2021-1A, Class A, 1.21%, 12/26/2025(b)

  394,000   397,197
Series 2021-1A, Class B, 1.56%, 12/26/2025(b)

  175,000   176,328
JPMDB Commercial Mortgage Securities Trust        
Series 2020-COR7, Class A5, 2.18%, 05/13/2053

  3,000,000   3,087,277
Series 2020-COR7, Class C, 3.73%, 05/13/2053(m)

  2,908,000   3,190,669
Life Mortgage Trust        
Series 2021-BMR, Class A, 0.79% (1 mo. USD LIBOR + 0.70%), 03/15/2038(b)(h)

  1,830,000   1,834,941
Series 2021-BMR, Class B, 0.97% (1 mo. USD LIBOR + 0.88%), 03/15/2038(b)(h)

  1,235,000   1,238,506
Series 2021-BMR, Class C, 1.19% (1 mo. USD LIBOR + 1.10%), 03/15/2038(b)(h)

  500,000   501,757
MHP Commercial Mortgage Trust        
Series 2021-STOR, Class A, 0.80% (1 mo. USD LIBOR + 0.70%), 07/15/2038(b)(h)(j)

  815,000   816,671
Series 2021-STOR, Class B, 1.00% (1 mo. USD LIBOR + 0.90%), 07/15/2038(b)(h)(j)

  615,000   616,335
MMAF Equipment Finance LLC, Series 2020-A, Class A5, 1.56%, 10/09/2042(b)

  1,500,000   1,526,898
Morgan Stanley BAML Trust, Series 2015-C25, Class B, 4.53%, 10/15/2048(m)

  1,032,000   1,147,728
Morgan Stanley Capital I Trust, Series 2019-L3, Class AS, 3.49%, 11/15/2052

  1,580,000   1,749,822
Neuberger Berman Loan Advisers CLO 40 Ltd. (Cayman Islands), Series 2021-40A, Class A, 1.19% (3 mo. USD LIBOR + 1.06%), 04/16/2033(b)(h)

  1,023,000   1,025,950
New Residential Mortgage Loan Trust        
Series 2019-NQM4, Class A1, 2.49%, 09/25/2059(b)(m)

  409,292   412,815
Series 2020-NQM1, Series A1, 2.46%, 01/26/2060(b)(m)

  1,217,279   1,236,463
OCP CLO Ltd. (Cayman Islands)        
Series 2017-13A, Class A1A, 1.39% (3 mo. USD LIBOR + 1.26%), 07/15/2030(b)(h)

  3,000,000   3,001,554
Series 2020-8RA, Class A1, 1.35% (3 mo. USD LIBOR + 1.22%), 01/17/2032(b)(h)

  1,730,000   1,730,999
Octagon Investment Partners 31 LLC (Cayman Islands), Series 2017-1A, Class AR, 1.18% (3 mo. USD LIBOR + 1.05%), 07/20/2030(b)(h)

  4,000,000   4,004,228
Octagon Investment Partners 49 Ltd. (Cayman Islands), Series 2020-5A, Class A1, 1.35% (3 mo. USD LIBOR + 1.22%), 01/15/2033(b)(h)

  3,000,000   3,003,251
One Bryant Park Trust, Series 2019-OBP, Class A, 2.52%, 09/15/2054(b)

  457,000   481,222
PPM CLO 3 Ltd. (Cayman Islands), Series 2019-3A, Class AR, 1.22% (3 mo. USD LIBOR + 1.09%), 04/17/2034(b)(h)

  250,000   250,002
  Principal
Amount
  Value
Progress Residential Trust, Series 2020-SFR1, Class A, 1.73%, 04/17/2037(b)

$ 870,000   $884,156
Race Point VIII CLO Ltd. (Cayman Islands), Series 2013-8A, Class AR2, 1.20% (3 mo. USD LIBOR + 1.04%), 02/20/2030(b)(h)

  672,370   672,836
Residential Mortgage Loan Trust        
Series 2019-3, Class A1, 2.63%, 09/25/2059(b)(m)

  77,529   78,567
Series 2020-1, Class A1, 2.38%, 02/25/2024(b)(m)

  174,045   176,156
Sonic Capital LLC        
Series 2020-1A, Class A2I, 3.85%, 01/20/2050(b)

  1,610,363   1,720,512
Series 2021-1A, Class A2I, 2.19%, 08/20/2051(b)(j)

  1,840,000   1,848,740
Series 2021-1A, Class A2II, 2.64%, 08/20/2051(b)(j)

  1,880,000   1,888,930
Star Trust        
Series 2021-1, Class A1, 1.22%, 05/25/2065(b)(m)

  2,337,911   2,347,210
Series 2021-SFR1, Class B, 0.84% (1 mo. USD LIBOR + 0.75%), 04/17/2038(b)(h)

  475,000   474,467
Series 2021-SFR1, Class C, 1.14% (1 mo. USD LIBOR + 1.05%), 04/17/2038(b)(h)

  1,125,000   1,125,689
Series 2021-SFR1, Class D, 1.39% (1 mo. USD LIBOR + 1.30%), 04/17/2038(b)(h)

  1,665,000   1,666,121
Starwood Mortgage Residential Trust        
Series 2020-1, Class A1, 2.28%, 02/25/2050(b)(m)

  217,072   219,931
Series 2020-INV1, Class A1, 1.03%, 11/25/2055(b)(m)

  1,661,564   1,663,970
Store Master Funding I-VII, Series 2016-1A, Class A2, 4.32%, 10/20/2046(b)

  460,024   497,538
Taco Bell Funding LLC, Series 2016-1A, Class A23, 4.97%, 05/25/2046(b)

  144,000   155,659
Taconic Park CLO Ltd. (Cayman Islands), Series 2016-1A, Class A1R, 1.13% (3 mo. USD LIBOR + 1.00%), 01/20/2029(b)(h)

  958,000   959,402
Textainer Marine Containers Ltd. (China), Series 2021-2A, Class A, 2.23%, 04/20/2046(b)

  1,577,804   1,613,893
Tricon American Homes Trust, Series 2020-SFR2, Class A, 1.48%, 11/17/2039(b)

  1,143,362   1,140,086
Verus Securitization Trust        
Series 2020-INV1, Class A1, 0.33%, 03/25/2060(b)(m)

  181,033   182,432
Series 2021-1, Class A1B, 1.32%, 01/25/2066(b)(m)

  2,152,021   2,157,094
Series 2021-2, Class A1, 1.03%, 02/25/2066(b)(m)

  2,679,306   2,682,893
Series 2021-R1, Class A1, 0.82%, 10/25/2063(b)(m)

  2,549,488   2,552,204
Visio Trust, Series 2020-1R, Class A1, 1.31%, 11/25/2055(b)

  608,167   612,315
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class XA, IO, 1.43%, 01/15/2059(o)

  1,518,219   79,190
Wendy’s Funding LLC, Series 2019-1A, Class A2II, 4.08%, 06/15/2049(b)

  472,500   520,100
WFRBS Commercial Mortgage Trust, Series 2014-C23, Class B, 4.38%, 10/15/2057(m)

  307,000   334,088
Zaxby’s Funding LLC, Series 2021-1A, Class A2, 3.24%, 07/30/2051(b)

  4,300,000   4,461,176
Total Asset-Backed Securities

(Cost $111,663,666)

  113,173,518
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Government Sponsored Agency Mortgage-Backed
Securities-12.14%
Collateralized Mortgage Obligations-0.96%
Fannie Mae Multifamily Connecticut Avenue Securities, Series 2019-01, Class M7, 1.79% (1 mo. USD LIBOR + 1.70%), 10/15/2049(b)(h)(p)

$ 1,567,561   $1,569,532
Freddie Mac Military Housing Bonds Resecuritization Trust Ctfs., Series 2015-R1, Class B1, 4.49%, 11/25/2055(b)(m)

  936,191   1,138,558
Freddie Mac Multifamily Structured Pass-Through Ctfs.        
Series 2013-K026, Class X1, IO, 0.94%, 11/25/2022(o)

  4,837,142   49,822
Series 2013-K035, Class X1, IO, 0.34%, 08/25/2023(o)

  7,776,852   47,683
Series 2014-K036, Class X1, IO, 0.77%, 10/25/2023(o)

  5,694,890   80,023
Series 2014-K037, Class X1, IO, 0.94%, 01/25/2024(o)

  6,052,739   121,444
Series 2015-K042, Class X1, IO, 1.03%, 12/25/2024(o)

  4,240,924   129,184
Series 2017-K066, Class AM, 3.20%, 06/25/2027

  250,000   279,222
Series 2017-KGX1, Class AFX, 3.00%, 10/25/2027

  1,000,000   1,104,652
Series 2018-K074, Class AM, 3.60%, 02/25/2028

  1,000,000   1,142,843
Series 2018-K154, Class A3, 3.46%, 11/25/2032

  1,000,000   1,173,125
Series K038, Class X1, IO, 1.11%, 03/25/2024(o)

  3,987,277   96,618
Seasoned Credit Risk Transfer Trust        
Series 2017-3, Class HT, 3.25%, 07/25/2056(c)

  327,457   358,032
Series 2017-4, Class HT, 3.25%, 06/25/2057(c)

  550,198   598,087
        7,888,825
Federal Home Loan Mortgage Corp. (FHLMC)-0.60%
0.00%, 12/14/2029(e)

  150,000   134,360
3.55%, 10/01/2033

  477,487   541,411
3.00%, 10/01/2034

  442,196   466,564
4.00%, 11/01/2048 to 07/01/2049

  447,272   479,359
3.50%, 08/01/2049

  3,086,856   3,315,508
        4,937,202
Federal National Mortgage Association (FNMA)-1.99%
2.86%, 09/01/2029

  500,000   555,361
2.99%, 09/01/2029

  500,000   556,314
2.82%, 10/01/2029

  500,000   554,057
3.05%, 10/01/2029

  500,000   551,090
2.90%, 11/01/2029

  500,000   553,441
3.08%, 10/01/2032

  750,000   844,852
3.24%, 11/01/2032

  468,598   526,972
3.31%, 01/01/2033

  1,000,000   1,148,266
2.50%, 10/01/2034 to 12/01/2034

  3,195,948   3,380,718
3.50%, 05/01/2047 to 06/01/2047

  2,535,943   2,751,228
4.00%, 11/01/2047

  151,865   163,369
3.00%, 09/01/2049 to 10/01/2049

  4,427,447   4,738,198
        16,323,866
Government National Mortgage Association (GNMA)-1.52%
4.00%, 07/20/2049

  96,100   101,939
TBA, 2.00%, 09/01/2051(q)

  6,645,000   6,793,994
TBA, 2.50%, 09/01/2051(q)

  5,400,000   5,602,289
        12,498,222
Uniform Mortgage-Backed Securities-7.07%
TBA, 1.50%, 09/01/2036(q)

  8,760,000   8,914,281
  Principal
Amount
  Value
Uniform Mortgage-Backed Securities-(continued)
TBA, 2.00%, 09/01/2036 to 09/01/2051(q)

$ 30,491,850   $31,108,274
TBA, 2.50%, 09/01/2051(q)

  17,400,000   18,079,008
        58,101,563
Total U.S. Government Sponsored Agency Mortgage-Backed Securities

(Cost $97,643,762)

  99,749,678
  Shares    
Preferred Stocks-0.71%
Asset Management & Custody Banks-0.05%
Bank of New York Mellon Corp. (The), Series G, Pfd., 4.70%(f)

  345,000   382,543
Diversified Banks-0.44%
Citigroup, Inc.        
Series U, Pfd., 5.00%(d)(f)

  1,414,000   1,490,568
Series W, Pfd., 4.00%(f)

  817,000   846,249
JPMorgan Chase & Co., Series I, Pfd., 3.60% (3 mo. USD LIBOR + 3.47%)(h)

  834,000   838,188
Wells Fargo & Co., Class A, Series L, Conv. Pfd., 7.50%

  266   402,328
        3,577,333
Integrated Telecommunication Services-0.07%
AT&T, Inc., Series B, Pfd., 2.88%(f)

  500,000   605,061
Investment Banking & Brokerage-0.07%
Charles Schwab Corp. (The), Series H, Pfd., 4.00%(f)

  546,000   569,178
Life & Health Insurance-0.04%
MetLife, Inc., Series G, Pfd., 3.85%(d)(f)

  338,000   354,477
Other Diversified Financial Services-0.04%
Equitable Holdings, Inc., Series B, Pfd., 4.95%(f)

  318,000   345,825
Total Preferred Stocks

(Cost $5,517,225)

  5,834,417
  Principal
Amount
   
U.S. Government Sponsored Agency Securities-0.38%
Fannie Mae STRIPS        
0.00%, 05/15/2029(e)

$ 450,000   407,148
0.00%, 01/15/2030(e)

  1,300,000   1,151,416
0.00%, 05/15/2030(e)

  850,000   749,278
Freddie Mac STRIPS, 0.00%, 09/15/2030(e)

  350,000   308,081
Tennessee Valley Authority        
5.38%, 04/01/2056

  100,000   167,322
4.25%, 09/15/2065

  250,000   366,209
Total U.S. Government Sponsored Agency Securities

(Cost $2,466,831)

  3,149,454
Municipal Obligations-0.37%
California State University        
Series 2021-B, Ref. RB, 2.72%, 11/01/2052

  695,000   696,761
Series 2021-B, Ref. RB, 2.94%, 11/01/2052

  1,040,000   1,043,955
Illinois (State of), Series 2010-1, GO Bonds, (INS - AGM), 6.63%, 02/01/2035(r)

  200,000   259,996
Los Angeles (City of), CA Department of Water & Power, Series 2010, RB, 6.57%, 07/01/2045

  255,000   424,852
Texas (State of) Transportation Commission (Central Texas Turnpike System), Series 2020-C, Ref. RB, 3.03%, 08/15/2041

  580,000   595,062
Total Municipal Obligations(s)

(Cost $2,909,499)

  3,020,626
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Agency Credit Risk Transfer Notes-0.22%
Fannie Mae Connecticut Avenue Securities        
Series 2018-C05, Class 1M2, 2.44% (1 mo. USD LIBOR + 2.35%), 01/25/2031(h)(p)

$ 105,925   $107,287
Series 2019-R03, Class 1M2, 2.24% (1 mo. USD LIBOR + 2.15%), 09/25/2031(b)(h)(p)

  81,164   81,658
Series 2019-R06, Class 2M2, 2.19% (1 mo. USD LIBOR + 2.10%), 09/25/2039(b)(h)(p)

  102,369   102,806
Freddie Mac        
Series 2016-DNA4, Class M3, STACR®, 3.89% (1 mo. USD LIBOR + 3.80%), 03/25/2029(h)(t)

  233,397   241,895
Series 2016-HQA4, Class M3, STACR®, 3.99% (1 mo. USD LIBOR + 3.90%), 04/25/2029(h)(t)

  243,117   251,148
Series 2020-DNA5, Class M1, STACR®, 1.35% (30 Day Average SOFR + 1.30%), 10/25/2050(b)(h)(t)

  35,691   35,694
Series 2020-DNA5, Class M2, STACR®, 2.85% (30 Day Average SOFR + 2.80%), 10/25/2050(b)(h)(t)

  942,000   954,036
Total Agency Credit Risk Transfer Notes

(Cost $1,772,151)

  1,774,524
Non-U.S. Dollar Denominated Bonds & Notes-0.06%(u)
Movies & Entertainment-0.02%
Netflix, Inc., 3.88%, 11/15/2029(b)

EUR 100,000   144,801
  Principal
Amount
  Value
Sovereign Debt-0.04%
Ukraine Government International Bond (Ukraine), 4.38%, 01/27/2030(b)

EUR 309,000   $342,095
Total Non-U.S. Dollar Denominated Bonds & Notes

(Cost $454,258)

  486,896
  Shares    
Options Purchased-0.09%
(Cost $1,005,393)

  778,908
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-102.26%

(Cost $818,486,036)

  840,424,156
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.94%
Invesco Private Government Fund, 0.02%(v)(w)(x)

  12,177,226   12,177,226
Invesco Private Prime Fund, 0.12%(v)(w)(x)

  28,402,167   28,413,528
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $40,590,753)

  40,590,754
TOTAL INVESTMENTS IN SECURITIES-107.20%

(Cost $859,076,789)

  881,014,910
OTHER ASSETS LESS LIABILITIES-(7.20)%

  (59,166,575)
NET ASSETS-100.00%

  $821,848,335
 
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
Investment Abbreviations:
AGM -Assured Guaranty Municipal Corp.
CLO -Collateralized Loan Obligation
Conv. -Convertible
Ctfs. -Certificates
EUR -Euro
GO -General Obligation
INS -Insurer
IO -Interest Only
LIBOR -London Interbank Offered Rate
Pfd. -Preferred
RB -Revenue Bonds
Ref. -Refunding
REIT -Real Estate Investment Trust
SOFR -Secured Overnight Financing Rate
STACR® -Structured Agency Credit Risk
STRIPS -Separately Traded Registered Interest and Principal Security
TBA -To Be Announced
USD -U.S. Dollar
    
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) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2021 was $292,852,583, which represented 35.63% of the Fund’s Net Assets.
(c) Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date.
(d) All or a portion of this security was out on loan at July 31, 2021.
(e) Denotes a zero coupon security issued at a substantial discount from its value at maturity.
(f) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(g) Perpetual bond with no specified maturity date.
(h) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on July 31, 2021.
(i) Security valued using significant unobservable inputs (Level 3). See Note 1.
(j) All or a portion of the security position is when-issued or delayed delivery to be delivered and settled after period end.
(k) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(l) $2,975,524 was pledged as collateral to cover margin requirements for open futures contracts.  
(m) Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on July 31, 2021.
(n) Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security.
(o) Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on July 31, 2021.
(p) CAS notes are bonds issued by Fannie Mae. The amount of periodic principal and ultimate principal paid by Fannie Mae is determined by the performance of a large and diverse reference pool.
(q) Security purchased on a forward commitment basis. This security is subject to dollar roll transactions.  
(r) Principal and/or interest payments are secured by the bond insurance company listed.
(s) Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not primarily responsible for the borrower’s obligations but may be called upon to satisfy the borrower’s obligations. No concentration of any single entity was greater than 5% each.
(t) Principal payments are determined by the delinquency and principal payment experience on the STACR® reference pool. Freddie Mac transfers credit risk from the mortgages in the reference pool to credit investors who invest in the STACR® debt notes.
(u) Foreign denominated security. Principal amount is denominated in the currency indicated.
(v) 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 nine months ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $7,969,602   $523,739,931   $(519,532,307)   $-   $-   $12,177,226   $2,568*
Invesco Private Prime Fund 11,954,402   793,094,515   (776,635,452)   1   62   28,413,528   30,502*
Total $19,924,004   $1,316,834,446   $(1,296,167,759)   $1   $62   $40,590,754   $33,070
    
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
* 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.
    
(w) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(x) 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 table below details options purchased.
    
Open Exchange-Traded Equity Options Purchased
Description   Type of
Contract
  Expiration Date   Number of
Contracts
  Exercise Price   Notional
Value*
  Value
Equity Risk                  
Energy Select Sector SPDR Fund   Call   06/17/2022   760     $57   $4,332,000   $166,060
Apple, Inc.   Call   06/17/2022   4     145   58,000   6,410
Microsoft Corp.   Call   06/17/2022   5     295   147,500   10,388
Total Exchange-Traded Equity Options Purchased                 $182,858
    
* Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
    
Open Exchange-Traded Index Options Purchased
Description   Type of
Contract
  Expiration Date   Number of
Contracts
  Exercise Price   Notional
Value*
  Value
Equity Risk                  
S&P 500 Index   Call   04/14/2022   26     $4,425   $11,505,000   $596,050
    
* Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
    
Open Exchange-Traded Equity Options Written
Description   Type of
Contract
  Expiration
Date
  Number of
Contracts
  Exercise
Price
  Premiums
Received
  Notional
Value*
  Value   Unrealized
Appreciation
Equity Risk                          
Energy Select Sector SPDR Fund   Call   06/17/2022   760     $ 70 $ (119,293)     $(5,320,000)   $(46,360)   $ 72,933
    
* Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier.
    
Open Over-The-Counter Credit Default Swaptions Written
Counterparty   Type of
Contract
  Exercise
Rate
  Reference
Entity
  (Pay)/
Receive
Fixed
Rate
  Payment
Frequency
  Expiration
Date
  Implied
Credit
Spread(a)
  Premiums
Received
  Notional
Value
  Value   Unrealized
Appreciation
(Depreciation)
Credit Risk                                      
Goldman Sachs International   Put   1.08%   Markit CDX North America High Yield Index, Series 35, Version 1   5.00%   Quarterly   09/15/2021   2.919%   $(125,860)   USD (19,363,000)   $(129,711)   $(3,851)
    
(a) Implied credit spreads represent the current level, as of July 31, 2021, at which protection could be bought or sold given the terms of the existing credit default swap agreement and serve as an indicator of the current status of the payment/performance risk of the credit default swap agreement. An implied credit spread that has widened or increased since entry into the initial agreement may indicate a deteriorating credit profile and increased risk of default for the reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit spreads may increase or decrease reflecting the general tolerance for risk in the credit markets generally.
    
Open Futures Contracts
Long Futures Contracts   Number of
Contracts
  Expiration
Month
  Notional
Value
  Value   Unrealized
Appreciation
(Depreciation)
Interest Rate Risk                    
U.S. Treasury Long Bonds   38   September-2021   $6,259,313   $183,896   $183,896
U.S. Treasury 2 Year Notes   536   September-2021   118,271,750   (5,241)   (5,241)
U.S. Treasury 5 Year Notes   43   September-2021   5,351,148   25,125   25,125
Subtotal—Long Futures Contracts               203,780   203,780
See accompanying notes which are an integral part of this schedule.

Invesco Total Return Bond ETF (GTO)—(continued)
July 31, 2021
(Unaudited)
Open Futures Contracts—(continued)
Short Futures Contracts   Number of
Contracts
  Expiration
Month
  Notional
Value
  Value   Unrealized
Appreciation
(Depreciation)
Interest Rate Risk                    
U.S. Treasury 10 Year Notes   308   September-2021   $(41,411,563)   $(762,341)   $(762,341)
U.S. Treasury 10 Year Ultra Bonds   500   September-2021   (75,125,000)   (2,602,059)   (2,602,059)
U.S. Treasury Ultra Bonds   97   September-2021   (19,354,531)   (1,358,973)   (1,358,973)
Subtotal—Short Futures Contracts               (4,723,373)   (4,723,373)
Total Futures Contracts   $(4,519,593)   $(4,519,593)
    
Open Centrally Cleared Credit Default Swap Agreements(a)
Reference Entity   Buy/Sell
Protection
  (Pay)/
Receive
Fixed
Rate
  Payment
Frequency
  Maturity Date   Implied
Credit
Spread(b)
  Notional
Value
  Upfront
Payments
Paid
(Received)
  Value   Unrealized
Appreciation
Credit Risk                            
Markit CDX North America High Yield Index, Series 35, Version 1   Buy   (5.00)%   Quarterly   06/20/2026   2.919%   USD 7,716,094   $(774,503)   $(707,936)   $66,567
    
(a) Centrally cleared swap agreements collateralized by $2,037,889 cash held with the broker.
(b) Implied credit spreads represent the current level, as of July 31, 2021, at which protection could be bought or sold given the terms of the existing credit default swap agreement and serve as an indicator of the current status of the payment/performance risk of the credit default swap agreement. An implied credit spread that has widened or increased since entry into the initial agreement may indicate a deteriorating credit profile and increased risk of default for the reference entity. A declining or narrowing spread may indicate an improving credit profile or decreased risk of default for the reference entity. Alternatively, credit spreads may increase or decrease reflecting the general tolerance for risk in the credit markets generally.
    
Open Forward Foreign Currency Contracts
Settlement Date   Counterparty   Contract to   Unrealized
Appreciation
Deliver   Receive  
Currency Risk                  
8/17/2021   State Street Bank and Trust Co.   EUR 885,000 USD 1,077,455 $27,664  
    
Abbreviations:
EUR -Euro
USD -U.S. Dollar
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 Ultra Short Duration ETF (GSY)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Dollar Denominated Bonds & Notes-46.52%
Aerospace & Defense-0.62%
Boeing Co. (The), 1.17%, 02/04/2023

$ 3,046,000   $3,056,464
Raytheon Technologies Corp., 2.50%, 12/15/2022

  15,000,000   15,374,319
        18,430,783
Agricultural & Farm Machinery-0.09%
John Deere Capital Corp., 1.20%, 04/06/2023

  2,687,000   2,732,321
Apparel, Accessories & Luxury Goods-0.12%
Ralph Lauren Corp., 1.70%, 06/15/2022

  3,519,000   3,564,864
Application Software-0.17%
Intuit, Inc., 0.65%, 07/15/2023

  5,000,000   5,033,322
Automobile Manufacturers-4.76%
BMW US Capital LLC (Germany), 3.80%, 04/06/2023(b)

  10,000,000   10,557,438
Daimler Finance North America LLC (Germany)        
3.40%, 02/22/2022(b)

  22,290,000   22,671,696
2.55%, 08/15/2022(b)

  500,000   511,067
3.35%, 02/22/2023(b)

  21,462,000   22,426,254
General Motors Financial Co., Inc., 1.70%, 08/18/2023(c)

  20,000,000   20,414,601
Hyundai Capital America        
1.25%, 09/18/2023(b)

  12,730,000   12,846,724
0.88%, 06/14/2024(b)

  10,526,000   10,510,795
Toyota Motor Credit Corp.        
0.56% (3 mo. USD LIBOR + 0.40%), 05/17/2022(d)

  12,260,000   12,296,518
0.50%, 08/14/2023

  17,606,000   17,683,748
Volkswagen Group of America Finance LLC (Germany)        
2.70%, 09/26/2022(b)

  6,385,000   6,552,026
3.13%, 05/12/2023(b)

  5,091,000   5,312,341
        141,783,208
Biotechnology-2.31%
AbbVie, Inc.        
0.61% (3 mo. USD LIBOR + 0.46%), 11/19/2021(d)

  25,000,000   25,030,698
5.00%, 12/15/2021

  15,850,000   15,941,316
2.30%, 11/21/2022

  8,000,000   8,200,535
Amgen, Inc., 2.65%, 05/11/2022(c)

  9,600,000   9,761,179
Gilead Sciences, Inc., 0.75%, 09/29/2023

  10,000,000   10,005,860
        68,939,588
Cable & Satellite-0.67%
Comcast Corp., 0.58% (3 mo. USD LIBOR + 0.44%), 10/01/2021(d)

  20,000,000   20,015,245
Construction Machinery & Heavy Trucks-0.17%
Caterpillar Financial Services Corp., 0.36% (3 mo. USD LIBOR + 0.22%), 01/06/2022(d)

  4,938,000   4,942,737
Consumer Finance-1.38%
Ally Financial, Inc., 1.45%, 10/02/2023

  5,309,000   5,393,741
American Express Co., 0.78% (3 mo. USD LIBOR + 0.60%), 11/05/2021(d)

  17,000,000   17,013,600
Capital One Financial Corp.        
1.07% (3 mo. USD LIBOR + 0.95%), 03/09/2022(d)

  10,000,000   10,046,285
2.60%, 05/11/2023

  5,823,000   6,040,993
Synchrony Financial, 2.85%, 07/25/2022

  2,566,000   2,622,678
        41,117,297
Data Processing & Outsourced Services-0.80%
Fidelity National Information Services, Inc., 0.38%, 03/01/2023

  3,571,000   3,573,617
  Principal
Amount
  Value
Data Processing & Outsourced Services-(continued)
PayPal Holdings, Inc.        
2.20%, 09/26/2022

$ 10,105,000   $10,337,786
1.35%, 06/01/2023

  9,688,000   9,873,490
        23,784,893
Department Stores-0.20%
7-Eleven, Inc., 0.63%, 02/10/2023(b)

  5,882,000   5,885,995
Diversified Banks-8.00%
ABN AMRO Bank N.V. (Netherlands), 0.71% (3 mo. USD LIBOR + 0.57%), 08/27/2021(b)(d)

  4,834,000   4,836,073
Banco Santander S.A. (Spain), 0.70%, 06/30/2024(e)

  13,600,000   13,648,467
Bank of America Corp., 3.30%, 01/11/2023

  6,000,000   6,263,938
Banque Federative du Credit Mutuel S.A. (France), 0.65%, 02/27/2024(b)

  7,955,000   7,961,238
BPCE S.A. (France)        
1.37% (3 mo. USD LIBOR + 1.22%), 05/22/2022(b)(d)

  12,000,000   12,104,860
5.15%, 07/21/2024(b)

  5,040,000   5,607,588
Canadian Imperial Bank of Commerce (Canada)        
0.45%, 06/22/2023

  15,000,000   15,014,423
0.95%, 06/23/2023

  17,045,000   17,226,995
0.50%, 12/14/2023(c)

  8,571,000   8,566,401
Danske Bank A/S (Denmark), 2.70%, 03/02/2022(b)

  9,000,000   9,116,381
Federation des Caisses Desjardins du Quebec (Canada), 0.70%, 05/21/2024(b)

  9,868,000   9,879,704
Mitsubishi UFJ Financial Group, Inc. (Japan), 1.18% (3 mo. USD LIBOR + 1.06%), 09/13/2021(c)(d)

  5,000,000   5,006,016
Mizuho Financial Group, Inc. (Japan)        
1.26% (3 mo. USD LIBOR + 1.14%), 09/13/2021(d)

  6,850,000   6,858,651
2.60%, 09/11/2022

  6,500,000   6,667,592
National Australia Bank Ltd. (Australia), 0.83% (3 mo. USD LIBOR + 0.71%), 11/04/2021(b)(d)

  12,000,000   12,021,585
National Bank of Canada (Canada), 0.90%, 08/15/2023(e)

  5,000,000   5,024,471
NatWest Markets PLC (United Kingdom), 3.63%, 09/29/2022(b)

  17,600,000   18,275,792
Nordea Bank Abp (Finland), 1.00%, 06/09/2023(b)

  7,407,000   7,501,249
Standard Chartered PLC (United Kingdom), 1.32%, 10/14/2023(b)(e)

  3,787,000   3,821,748
Sumitomo Mitsui Financial Group, Inc. (Japan)        
1.27% (3 mo. USD LIBOR + 1.14%), 10/19/2021(d)

  10,050,000   10,074,852
0.51%, 01/12/2024

  1,364,000   1,363,405
Sumitomo Mitsui Trust Bank Ltd. (Japan), 0.80%, 09/12/2023(b)

  11,102,000   11,191,337
Toronto-Dominion Bank (The) (Canada), 0.49% (3 mo. USD LIBOR + 0.35%), 07/22/2022(d)

  10,000,000   10,026,291
Truist Bank, 0.75% (3 mo. USD LIBOR + 0.59%), 05/17/2022(d)

  10,833,000   10,880,635
U.S. Bank N.A., 0.54% (3 mo. USD LIBOR + 0.38%), 11/16/2021(d)

  9,091,000   9,099,094
UBS AG (Switzerland), 0.38%, 06/01/2023(b)

  10,417,000   10,416,713
        238,455,499
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Diversified Capital Markets-1.44%
Credit Suisse AG (Switzerland)        
0.50% (SOFR + 0.45%), 02/04/2022(d)

$ 15,000,000   $15,023,374
1.00%, 05/05/2023

  13,636,000   13,790,295
0.50%, 02/02/2024

  14,000,000   13,972,857
        42,786,526
Electric Utilities-1.86%
American Electric Power Co., Inc., Series M, 0.75%, 11/01/2023

  3,797,000   3,800,195
Duke Energy Progress LLC, Series A, 0.34% (3 mo. USD LIBOR + 0.18%), 02/18/2022(d)

  9,756,000   9,756,224
Florida Power & Light Co., 0.28% (SOFR + 0.25%), 05/10/2023(c)(d)

  13,043,000   13,046,121
NextEra Energy Capital Holdings, Inc., 0.58% (SOFR + 0.54%), 03/01/2023(d)

  3,704,000   3,722,618
Southern California Edison Co., Series D, 0.40% (3 mo. USD LIBOR + 0.27%), 12/03/2021(d)

  11,245,000   11,248,652
Southern Co. (The), Series 21-A, 0.60%, 02/26/2024

  9,524,000   9,553,770
Xcel Energy, Inc., 0.50%, 10/15/2023

  4,372,000   4,379,938
        55,507,518
Fertilizers & Agricultural Chemicals-0.18%
Nutrien Ltd. (Canada), 1.90%, 05/13/2023

  5,300,000   5,429,813
Financial Exchanges & Data-0.17%
Intercontinental Exchange, Inc., 0.70%, 06/15/2023

  4,938,000   4,971,243
Gas Utilities-0.81%
Atmos Energy Corp., 0.50% (3 mo. USD LIBOR + 0.38%), 03/09/2023(d)

  9,756,000   9,758,755
CenterPoint Energy Resources Corp., 0.63% (3 mo. USD LIBOR + 0.50%), 03/02/2023(d)

  14,493,000   14,496,656
        24,255,411
Health Care Distributors-0.34%
AmerisourceBergen Corp., 0.74%, 03/15/2023

  10,170,000   10,190,008
Hotels, Resorts & Cruise Lines-0.38%
Marriott International, Inc., Series N, 3.13%, 10/15/2021

  11,412,000   11,417,775
Industrial Conglomerates-0.17%
Honeywell International, Inc., 0.38% (3 mo. USD LIBOR + 0.23%), 08/19/2022(d)

  5,096,000   5,096,824
Integrated Oil & Gas-1.14%
BP Capital Markets America, Inc., 3.22%, 11/28/2023

  7,495,000   7,960,019
Exxon Mobil Corp., 1.57%, 04/15/2023

  12,409,000   12,678,568
Shell International Finance B.V. (Netherlands), 0.38%, 09/15/2023

  13,333,000   13,338,314
        33,976,901
Integrated Telecommunication Services-0.69%
AT&T, Inc., 0.69% (SOFR + 0.64%), 03/25/2024(d)

  9,917,000   9,940,910
Verizon Communications, Inc., 0.55% (SOFR + 0.50%), 03/22/2024(d)

  10,417,000   10,490,536
        20,431,446
Investment Banking & Brokerage-2.33%
Goldman Sachs Group, Inc. (The)        
5.75%, 01/24/2022

  15,517,000   15,923,646
0.48%, 01/27/2023

  11,114,000   11,120,965
0.63%, 11/17/2023(e)

  21,111,000   21,123,851
  Principal
Amount
  Value
Investment Banking & Brokerage-(continued)
Morgan Stanley        
3.13%, 01/23/2023

$ 14,598,000   $15,188,687
0.56%, 11/10/2023(e)

  6,000,000   6,012,088
        69,369,237
Life & Health Insurance-4.73%
Athene Global Funding        
2.80%, 05/26/2023(b)(c)

  17,500,000   18,233,813
1.20%, 10/13/2023(b)

  14,974,000   15,172,299
0.95%, 01/08/2024(b)

  5,000,000   5,041,271
0.74% (SOFR + 0.70%), 05/24/2024(b)(d)

  19,000,000   19,099,211
Brighthouse Financial Global Funding, 0.60%, 06/28/2023(b)

  3,255,000   3,260,852
GA Global Funding Trust, 1.00%, 04/08/2024(b)

  17,219,000   17,346,385
Jackson National Life Global Funding, 0.65% (SOFR + 0.60%), 01/06/2023(b)(d)

  10,000,000   10,054,566
MassMutual Global Funding II, 0.41% (SOFR + 0.36%), 04/12/2024(b)(d)

  15,022,000   15,070,883
MET Tower Global Funding, 0.60% (SOFR + 0.55%), 01/17/2023(b)(d)

  10,000,000   10,066,178
New York Life Global Funding        
0.50% (3 mo. USD LIBOR + 0.32%), 08/06/2021(b)(d)

  6,665,000   6,665,229
0.56% (3 mo. USD LIBOR + 0.44%), 07/12/2022(b)(d)

  7,407,000   7,438,008
1.10%, 05/05/2023(b)

  3,243,000   3,293,608
Principal Life Global Funding II, 0.50% (SOFR + 0.45%), 04/12/2024(b)(d)

  5,882,000   5,905,211
Protective Life Global Funding, 0.63%, 10/13/2023(b)(c)

  4,192,000   4,212,704
        140,860,218
Managed Health Care-0.10%
Humana, Inc., 0.65%, 08/03/2023

  2,917,000   2,917,702
Movies & Entertainment-0.16%
Walt Disney Co. (The), 0.38% (3 mo. USD LIBOR + 0.25%), 09/01/2021(d)

  4,762,000   4,763,291
Multi-line Insurance-0.45%
Metropolitan Life Global Funding I        
0.62% (SOFR + 0.57%), 01/13/2023(b)(d)

  3,749,000   3,774,697
0.90%, 06/08/2023(b)

  9,524,000   9,633,679
        13,408,376
Multi-Utilities-0.67%
Consolidated Edison, Inc., Series A, 0.65%, 12/01/2023

  12,195,000   12,203,949
Dominion Energy, Inc., Series D, 0.65% (3 mo. USD LIBOR + 0.53%), 09/15/2023(d)

  7,692,000   7,700,388
        19,904,337
Oil & Gas Exploration & Production-0.63%
ConocoPhillips, 1.06% (3 mo. USD LIBOR + 0.90%), 05/15/2022(d)

  11,853,000   11,927,768
Pioneer Natural Resources Co.        
0.55%, 05/15/2023

  3,509,000   3,514,305
0.75%, 01/15/2024

  3,297,000   3,298,186
        18,740,259
Oil & Gas Refining & Marketing-1.00%
Phillips 66        
4.30%, 04/01/2022

  10,000,000   10,263,642
3.70%, 04/06/2023

  12,500,000   13,165,523
0.90%, 02/15/2024

  6,250,000   6,255,964
        29,685,129
Oil & Gas Storage & Transportation-1.02%
Enbridge, Inc. (Canada)        
0.43% (SOFR + 0.40%), 02/17/2023(d)

  3,571,000   3,579,166
4.00%, 10/01/2023

  15,000,000   16,015,283
 
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Oil & Gas Storage & Transportation-(continued)
MPLX L.P., 1.22% (3 mo. USD LIBOR + 1.10%), 09/09/2022(d)

$ 2,844,000   $2,845,897
Williams Cos., Inc. (The), 4.00%, 11/15/2021

  8,000,000   8,009,765
        30,450,111
Other Diversified Financial Services-0.67%
AIG Global Funding        
0.80%, 07/07/2023(b)(c)

  7,317,000   7,383,941
Series 2019-A2, Class A, 2.30%, 07/01/2022(b)

  5,000,000   5,091,584
USAA Capital Corp., 0.50%, 05/01/2024(b)

  7,500,000   7,507,900
        19,983,425
Packaged Foods & Meats-0.31%
Mondelez International Holdings Netherlands B.V., 2.13%, 09/19/2022(b)

  8,995,000   9,178,196
Paper Products-0.50%
Georgia-Pacific LLC, 0.63%, 05/15/2024(b)

  15,000,000   15,047,428
Personal Products-0.13%
Unilever Capital Corp. (United Kingdom), 0.38%, 09/14/2023

  3,917,000   3,927,955
Pharmaceuticals-1.83%
AstraZeneca PLC (United Kingdom), 0.30%, 05/26/2023

  10,000,000   10,007,378
Bayer US Finance II LLC (Germany), 3.88%, 12/15/2023(b)

  30,000,000   32,110,293
Bristol-Myers Squibb Co., 0.54%, 11/13/2023

  12,500,000   12,513,315
        54,630,986
Regional Banks-1.23%
Fifth Third Bancorp, 3.65%, 01/25/2024

  10,000,000   10,725,895
KeyBank N.A., 0.79% (3 mo. USD LIBOR + 0.66%), 02/01/2022(d)

  18,038,000   18,098,038
Regions Financial Corp., 3.80%, 08/14/2023

  7,342,000   7,829,270
        36,653,203
Restaurants-0.36%
McDonald’s Corp., 0.56% (3 mo. USD LIBOR + 0.43%), 10/28/2021(d)

  10,652,000   10,663,122
Semiconductors-0.82%
NXP B.V./NXP Funding LLC (China), 4.63%, 06/01/2023(b)

  22,725,000   24,352,780
Specialized REITs-0.64%
American Tower Corp., 2.25%, 01/15/2022

  6,747,000   6,806,431
Crown Castle International Corp., 3.15%, 07/15/2023

  11,626,000   12,203,843
        19,010,274
Systems Software-0.27%
VMware, Inc., 0.60%, 08/15/2023

  8,064,000   8,078,822
Technology Hardware, Storage & Peripherals-0.48%
Apple, Inc., 0.75%, 05/11/2023

  7,143,000   7,207,902
Hewlett Packard Enterprise Co., 0.86% (3 mo. USD LIBOR + 0.72%), 10/05/2021(d)

  7,059,000   7,060,328
        14,268,230
Thrifts & Mortgage Finance-0.41%
Nationwide Building Society (United Kingdom), 0.55%, 01/22/2024(b)

  12,195,000   12,184,689
Tobacco-0.44%
B.A.T. Capital Corp. (United Kingdom), 2.76%, 08/15/2022(c)

  12,685,000   12,968,264
Trading Companies & Distributors-0.42%
Air Lease Corp., 3.50%, 01/15/2022

  12,260,000   12,438,717
  Principal
Amount
  Value
Trucking-0.45%
Penske Truck Leasing Co. L.P./PTL Finance Corp., 3.90%, 02/01/2024(b)

$ 12,577,000   $13,506,883
Total U.S. Dollar Denominated Bonds & Notes

(Cost $1,378,795,638)

  1,385,740,851
Asset-Backed Securities-14.33%
ABPCI Direct Lending Fund CLO I LLC (Cayman Islands), Series 2017-1A, Class A1R, 1.73% (3 mo. USD LIBOR + 1.60%), 04/20/2032(b)(d)

  2,000,000   2,000,444
Angel Oak Mortgage Trust        
Series 2020-1, Class A1, 2.16%, 12/25/2059(b)(f)

  3,656,825   3,677,171
Series 2021-3, Class A1, 1.07%, 05/25/2066(b)(f)

  11,653,884   11,683,616
Angel Oak Mortgage Trust I LLC        
Series 2019-1, Class A1, 3.92%, 11/25/2048(b)(f)

  2,649,985   2,682,204
Series 2019-2, Class A1, 3.63%, 03/25/2049(b)(f)

  2,764,907   2,798,920
Series 2019-4, Class A1, 2.99%, 07/26/2049(b)(f)

  2,381,181   2,403,575
Angel Oak Mortgage Trust LLC, Series 2020-5, Class A1, 1.37%, 05/25/2065(b)(f)

  6,685,017   6,717,627
Atrium XIII (Cayman Islands), Series 13A, Class A1, 1.32% (3 mo. USD LIBOR + 1.18%), 11/21/2030(b)(d)

  3,000,000   3,002,114
Avery Point VI CLO Ltd. (Cayman Islands), Series 2015-6A, Class AR2, 1.08% (3 mo. USD LIBOR + 0.90%), 08/05/2027(b)(d)

  7,857,665   7,852,626
Bear Stearns Asset Backed Securities I Trust, Series 2006-HE9, Class 2A, 0.23% (1 mo. USD LIBOR + 0.14%), 11/25/2036(d)

  1,357,506   1,338,450
BMW Vehicle Owner Trust, Series 2020-A, Class A2, 0.39%, 02/27/2023

  1,358,253   1,358,930
CBAM Ltd. (Cayman Islands), Series 2018-5A, Class A, 1.15% (3 mo. USD LIBOR + 1.02%), 04/17/2031(b)(d)

  6,250,000   6,260,312
Chesapeake Funding II LLC (Canada), Series 2018-3A, Class A1, 3.39%, 01/15/2031(b)

  2,534,154   2,583,731
CIT Mortgage Loan Trust, Series 2007-1, Class 1A, 1.44% (1 mo. USD LIBOR + 1.35%), 10/25/2037(b)(d)

  1,105,826   1,117,123
COLT Mortgage Loan Trust        
Series 2019-4, Class A1, 2.58%, 11/25/2049(b)(f)

  3,762,784   3,777,307
Series 2020-1, Class A1, 2.49%, 02/25/2050(b)(f)

  4,280,654   4,303,662
Series 2020-1R, Class A1, 1.26%, 09/25/2065(b)(f)

  5,944,187   5,968,684
Series 2020-2R, Class A1, 1.33%, 10/26/2065(b)(f)

  5,856,094   5,871,216
Countrywide Asset-Backed Ctfs.        
Series 2004-SD2, Class M1, 1.02% (1 mo. USD LIBOR + 0.93%), 06/25/2033(b)(d)

  79,767   79,576
Series 2006-6, Class 1A1, 0.43% (1 mo. USD LIBOR + 0.34%), 09/25/2036(d)

  1,345,661   1,340,698
Credit Suisse Mortgage Trust, Series 2014-2R, Class 27A1, 0.29% (1 mo. USD LIBOR + 0.20%), 02/27/2046(b)(d)

  125,274   123,673
CWABS, Inc. Asset-Backed Ctfs. Trust, Series 2004-4, Class M1, 0.81% (1 mo. USD LIBOR + 0.72%), 07/25/2034(d)

  1,509,893   1,497,014
Deephaven Residential Mortgage Trust, Series 2021-2, Class A1, 0.90%, 04/25/2066(b)(f)

  9,616,212   9,616,339
Diamond CLO Ltd. (Cayman Islands), Series 2019-1A, Class A1R, 1.33% (3 mo. USD LIBOR + 1.20%), 04/25/2029(b)(d)

  9,816,772   9,836,109
 
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Dryden 30 Senior Loan Fund (Cayman Islands), Series 2013-30A, Class AR, 0.98% (3 mo. USD LIBOR + 0.82%), 11/15/2028(b)(d)

$ 14,397,426   $14,424,401
Ellington Financial Mortgage Trust        
Series 2019-2, Class A1, 2.74%, 11/25/2059(b)(f)

  4,056,883   4,136,848
Series 2020-2, Class A1, 1.18%, 10/25/2065(b)(f)

  947,506   949,836
Enterprise Fleet Financing LLC, Series 2019-1, Class A2, 2.98%, 10/20/2024(b)

  1,348,385   1,358,282
Fortress Credit Opportunities IX CLO Ltd. (Cayman Islands), Series 2017-9A, Class A1T, 1.71% (3 mo. USD LIBOR + 1.55%), 11/15/2029(b)(d)

  2,000,000   2,000,584
FS KKR MM CLO 1 LLC, Series 2019-1A, Class A1R, 1.98% (3 mo. USD LIBOR + 1.85%), 01/15/2031(b)(d)

  9,000,000   8,999,339
GCAT LLC, Series 2019-NQM1, Class A1, 2.99%, 02/25/2059(b)(g)

  5,947,269   5,983,026
GCAT Trust, Series 2019-NQM2, Class A1, 2.86%, 09/25/2059(b)(g)

  5,109,011   5,141,546
GoldenTree Loan Management US CLO 2 Ltd. (Cayman Islands), Series 2017-2A, Class A, 1.28% (3 mo. USD LIBOR + 1.15%), 11/28/2030(b)(d)

  10,000,000   10,011,824
GoldenTree Loan Opportunities IX Ltd. (Cayman Islands), Series 2014-9A, Class AR2, 1.24% (3 mo. USD LIBOR + 1.11%), 10/29/2029(b)(d)

  12,000,000   12,005,994
Golub Capital Partners CLO 34 M Ltd. (Cayman Islands), Series 2017-34A, Class AR2, 1.45% (3 mo. USD LIBOR + 1.45%), 03/14/2031(b)(d)

  14,000,000   14,021,137
Golub Capital Partners CLO 36M Ltd. (Cayman Islands), Series 2018-36A, Class A, 1.48% (3 mo. USD LIBOR + 1.30%), 02/05/2031(b)(d)

  5,000,000   4,991,939
Golub Capital Partners CLO 39B Ltd. (Cayman Islands), Series 2018-39A, Class A1, 1.28% (3 mo. USD LIBOR + 1.15%), 10/20/2028(b)(d)

  8,381,543   8,400,170
Golub Capital Partners CLO 45 M Ltd. (Cayman Islands), Series 2019-45A, Class A, 1.85% (3 mo. USD LIBOR + 1.72%), 10/20/2031(b)(d)

  5,000,000   5,010,277
Golub Capital Partners CLO 47 M Ltd. (Cayman Islands), Series 2020-47A, Class A1, 1.86% (3 mo. USD LIBOR + 1.68%), 05/05/2032(b)(d)

  10,000,000   9,997,606
GS Mortgage Securities Corp. Trust, Series 2017-STAY, Class A, 1.44% (1 mo. USD LIBOR + 1.10%), 07/15/2032(b)(d)

  12,200,000   12,228,184
GS Mortgage-Backed Securities Trust, Series 2020-NQM1, Class A1, 1.38%, 09/27/2060(b)(f)

  4,665,484   4,692,454
HSI Asset Securitization Corp. Trust, Series 2006-OPT2, Class M2, 0.48% (1 mo. USD LIBOR + 0.59%), 01/25/2036(d)

  1,885,113   1,888,962
KKR CLO 21 Ltd. (Cayman Islands), Series A, 1.13% (3 mo. USD LIBOR + 1.00%), 04/15/2031(b)(d)

  2,000,000   2,000,000
Nationstar Home Equity Loan Trust, Series 2007-B, Class 1AV1, 0.31% (1 mo. USD LIBOR + 0.22%), 04/25/2037(d)

  1,393,561   1,383,291
Navient Private Education Refi Loan Trust, Series 2020-FA, Class A, 1.22%, 07/15/2069(b)

  3,899,215   3,926,860
Neuberger Berman CLO XIV Ltd. (Cayman Islands), Series 2013-14A, Class AR2, 1.16% (3 mo. USD LIBOR + 1.03%), 01/28/2030(b)(d)

  10,000,000   10,012,978
  Principal
Amount
  Value
Neuberger Berman Loan Advisers CLO 25 Ltd. (Cayman Islands), Series 2017-25A, Class AR, 1.06% (3 mo. USD LIBOR + 0.93%), 10/18/2029(b)(d)

$ 9,750,000   $9,749,836
New Residential Mortgage Loan Trust        
Series 2017-5A, Class A1, 1.59% (1 mo. USD LIBOR + 1.50%), 06/25/2057(b)(d)

  540,038   549,463
Series 2019-NQM4, Class A1, 2.49%, 09/25/2059(b)(f)

  4,911,499   4,953,776
Series 2020-NQM1, Series A1, 2.46%, 01/26/2060(b)(f)

  2,916,396   2,962,360
Newstar Commercial Loan Funding LLC, Series 2017-1A, Class BN, 2.63% (3 mo. USD LIBOR + 2.50%), 03/20/2027(b)(d)

  2,192,936   2,198,394
NextGear Floorplan Master Owner Trust        
Series 2019-1A, Class A1, 0.74% (1 mo. USD LIBOR + 0.65%), 02/15/2024(b)(d)

  12,750,000   12,789,168
Series 2019-2A, Class A1, 0.79% (1 mo. USD LIBOR + 0.70%), 10/15/2024(b)(d)

  10,000,000   10,071,602
OBX Trust, Series 2018-EXP1, Class 2A1, 0.94% (1 mo. USD LIBOR + 0.85%), 04/25/2048(b)(d)

  881,697   888,513
OCP CLO Ltd. (Cayman Islands), Series 2014-7A, Class A1RR, 1.25% (3 mo. USD LIBOR + 1.12%), 07/20/2029(b)(d)

  6,750,000   6,753,382
Octagon Investment Partners XVII Ltd. (Cayman Islands), Series 2013-1A, Class A1R2, 1.13% (3 mo. USD LIBOR + 1.00%), 01/25/2031(b)(d)

  5,000,000   4,998,828
Onslow Bay Financial LLC, Series 2021-NQM2, Class A1, 1.10%, 05/25/2061(b)(f)

  14,575,681   14,625,524
Race Point VIII CLO Ltd. (Cayman Islands), Series 2013-8A, Class AR2, 1.20% (3 mo. USD LIBOR + 1.04%), 02/20/2030(b)(d)

  9,873,273   9,880,121
Residential Mortgage Loan Trust        
Series 2019-3, Class A1, 2.63%, 09/25/2059(b)(f)

  4,820,454   4,884,984
Series 2020-1, Class A1, 2.38%, 02/25/2024(b)(f)

  3,682,569   3,727,231
Star Trust, Series 2021-SFR1, Class A, 0.69% (1 mo. USD LIBOR + 0.60%), 04/17/2038(b)(d)

  19,775,913   19,785,784
Starwood Mortgage Residential Trust        
Series 2020-1, Class A1, 2.28%, 02/25/2050(b)(f)

  3,587,515   3,634,776
Series 2020-INV1, Class A1, 1.03%, 11/25/2055(b)(f)

  8,315,108   8,327,150
Series 2021-2, Class A1, 0.94%, 05/25/2065(b)(f)

  7,644,695   7,655,787
Sudbury Mill CLO Ltd. (Cayman Islands), Series 2013-1A, Class B1R, 1.78% (3 mo. USD LIBOR + 1.65%), 01/17/2026(b)(d)

  1,408,545   1,411,849
Tesla Auto Lease Trust, Series 2020-A, Class A2, 0.55%, 05/22/2023(b)

  1,395,279   1,397,293
TICP CLO II-2 Ltd. (Cayman Islands), Series 2018-IIA, Class A1, 0.97% (3 mo. USD LIBOR + 0.84%), 04/20/2028(b)(d)

  7,080,281   7,082,314
Toorak Mortgage Corp., Series 2021-INV1, Class A1, 1.15%, 07/25/2056(b)(f)

  10,750,000   10,788,126
Verus Securitization Trust        
Series 2020-1, Class A1, 2.42%, 01/25/2060(b)(g)

  6,510,469   6,614,005
Series 2020-5, Class A1, 1.22%, 05/25/2065(b)(g)

  7,047,932   7,071,476
Series 2021-4, Class A1, 0.94%, 07/25/2066(b)(f)

  15,000,000   15,049,554
Visio Trust, Series 2020-1R, Class A1, 1.31%, 11/25/2055(b)

  7,558,651   7,610,202
Total Asset-Backed Securities

(Cost $425,364,316)

  426,918,157
 
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Treasury Securities-0.84%
U.S. Treasury Bills-0.84%(h)
0.05%, 01/20/2022

(Cost $24,994,028)

$ 25,000,000   $24,994,359
Variable Rate Senior Loan Interests-0.06%(i)(j)
Aerospace & Defense-0.06%
Fly Funding II S.a.r.l. (Ireland), Term Loan B, 1.92% (3 mo. USD LIBOR + 1.75%), 08/09/2025

(Cost $1,787,062)

  1,791,141   1,762,600
Commercial Paper-30.54%
Arrow Electronics, Inc., 0.22%, 08/03/2021(b)(h)

  32,500,000   32,498,913
AT&T, Inc.        
0.37%, 10/21/2021(b)(h)

  13,000,000   12,995,654
0.38%, 11/16/2021(b)(h)

  10,700,000   10,695,108
0.38%, 11/18/2021(b)(h)

  9,700,000   9,695,454
0.42%, 12/15/2021(b)(h)

  6,400,000   6,395,903
0.40%, 12/16/2021(b)(h)

  4,500,000   4,497,081
Aviation Capital Group LLC        
0.25%, 08/02/2021(b)(h)

  1,000,000   999,994
0.22%, 08/05/2021(b)(h)

  10,000,000   9,999,875
0.25%, 08/10/2021(b)(h)

  20,000,000   19,999,511
0.33%, 09/17/2021(b)(h)

  13,000,000   12,997,912
Brookfield Infrastructure Holdings Canada, Inc.        
0.26%, 08/10/2021(h)

  9,000,000   8,999,544
0.25%, 08/24/2021(h)

  17,250,000   17,247,520
Cabot Corp., 0.22%, 08/09/2021(b)(h)

  9,300,000   9,299,667
Cigna Corp., 0.22%, 08/24/2021(b)(h)

  9,000,000   8,999,119
CommonSpirit Health, Series A, 0.22%, 12/02/2021(h)

  17,500,000   17,489,852
Conagra Brands, Inc.        
0.25%, 09/09/2021(b)(h)

  21,300,000   21,293,086
0.27%, 10/08/2021(b)(h)

  10,000,000   9,994,322
0.30%, 10/15/2021(b)(h)

  20,000,000   19,987,338
Enbridge US, Inc., 0.25%, 11/19/2021(b)(h)

  17,000,000   16,989,317
Enel Finance America LLC        
0.20%, 09/29/2021(b)(h)

  10,000,000   9,997,187
0.34%, 06/21/2022(b)(h)

  9,300,000   9,276,925
Energy Transfer L.P., 0.35%, 08/02/2021(h)

  6,500,000   6,499,838
ENGIE S.A., 0.14%, 09/02/2021(b)(h)

  23,000,000   22,997,067
Entergy Corp., 0.20%, 09/07/2021(b)(h)

  15,000,000   14,996,994
Fidelity National Information Services, Inc., 0.25%, 08/09/2021(b)(h)

  15,000,000   14,999,463
General Motors Financial Co., Inc.        
0.31%, 08/02/2021(b)(h)

  10,000,000   9,999,792
0.30%, 08/11/2021(b)(h)

  5,000,000   4,999,482
0.32%, 08/25/2021(b)(h)

  3,000,000   2,999,174
0.32%, 08/31/2021(b)(h)

  6,500,000   6,497,706
Glencore Funding LLC        
0.35%%–0.36%, 08/09/2021(b)(h)

  33,200,000   33,198,561
0.21%, 08/20/2021(b)(h)

  10,000,000   9,998,606
Harley-Davidson Financial Services, Inc.        
0.29%, 08/02/2021(b)(h)

  15,000,000   14,999,718
0.35%, 09/09/2021(b)(h)

  5,000,000   4,998,195
0.29%, 10/04/2021(b)(h)

  9,500,000   9,493,295
0.32%, 12/01/2021(b)(h)

  10,000,000   9,980,504
Hawaiian Electric Industries, Inc., 0.28%, 08/03/2021(b)(h)

  9,000,000   8,999,618
HSBC Bank PLC, 0.27%, 02/01/2022(b)(h)

  25,000,000   24,978,429
Humana, Inc.        
0.26%, 10/19/2021(b)(h)

  14,000,000   13,990,172
0.26%, 11/05/2021(b)(h)

  12,000,000   11,989,089
0.26%, 11/08/2021(b)(h)

  13,000,000   12,987,563
Jabil, Inc., 0.47%%–0.53%, 08/09/2021(b)(h)

  46,000,000   45,993,867
  Principal
Amount
  Value
Keurig Dr Pepper, Inc.        
0.30%, 01/14/2022(b)(h)

$ 10,200,000   $10,189,004
0.25%, 02/07/2022(b)(h)

  15,000,000   14,980,880
Molson Coors Beverage Co., 0.20%, 08/04/2021(b)(h)

  26,000,000   25,999,545
Mountcliff Funding LLC, 0.23%, 09/07/2021(b)(h)

  25,000,000   24,997,427
Oglethorpe Power Corp., 0.20%, 08/31/2021(b)(h)

  40,000,000   39,995,200
Plains Midstream Canada ULC, 0.35%, 08/02/2021(b)(h)

  34,500,000   34,499,181
Realty Income Corp., 0.15%, 08/27/2021(h)

  9,560,000   9,558,847
Suncor Energy, Inc., 0.23%, 10/04/2021(b)(h)

  9,300,000   9,296,948
UBS AG, 0.20% (SOFR + 0.19%), 06/16/2022(d)

  16,500,000   16,503,194
Viatris, Inc.        
0.38%, 08/16/2021(b)(h)

  13,000,000   12,997,864
0.35%, 09/15/2021(b)(h)

  17,500,000   17,491,272
0.45%, 10/18/2021(b)(h)

  15,000,000   14,986,167
Volkswagen Group of America Finance LLC, 0.52%, 11/08/2021(b)(h)

  20,000,000   19,974,638
VW Credit, Inc., 0.18%, 08/25/2021(b)(h)

  15,000,000   14,998,462
Waste Management, Inc., 0.40%, 08/16/2021(b)(h)

  22,300,000   22,298,578
WEC Energy Group, Inc., 0.13%, 08/16/2021(b)(h)

  14,700,000   14,699,056
White Plains Capital Co. LLC        
0.75%, 10/13/2021(b)(h)

  15,000,000   14,987,812
0.78%, 10/27/2021(b)(h)

  8,000,000   7,992,188
0.55%, 11/09/2021(b)(h)

  15,000,000   14,982,873
0.78%, 11/16/2021(b)(h)

  12,500,000   12,484,558
Total Commercial Paper

(Cost $909,766,937)

  909,860,109
  Repurchase
Amount
   
Repurchase Agreements-6.80%(k)
Citigroup Global Markets, Inc., joint open agreement dated 03/17/2020 (collateralized by domestic agency mortgage-backed securities and domestic and foreign corporate obligations valued at $244,594,689; 0.90% - 7.38%; 01/09/2022 - 03/20/2065), 0.60%(l)

  -   50,000,000
J.P. Morgan Securities LLC, joint open agreement dated 06/11/2021 (collateralized by domestic and foreign corporate obligations valued at $82,500,001; 5.75% - 15.50%; 11/01/2023 - 03/31/2029), 0.38%(l)

  -   30,000,000
J.P. Morgan Securities LLC, open agreement dated 03/02/2020 (collateralized by domestic corporate obligations valued at $27,004,132; 5.00% - 6.50%; 06/15/2024 - 07/01/2048), 0.48%(l)

  -   25,000,000
Nomura Securities International, Inc., joint term agreement dated 07/30/2021, aggregate maturing value of $50,000,000 (collateralized by domestic and foreign non-agency asset-backed securities and domestic non-agency mortgage-backed securities valued at $55,000,014; 0.00% - 6.84%; 03/25/2022 - 02/25/2066), 0.74%, 11/30/2021(d)

  25,000,000   25,000,000
 
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
  Repurchase
Amount
  Value
Societe Generale, joint term agreement dated 06/29/2021, aggregate maturing value of $100,000,000 (collateralized by domestic non-agency asset-backed securities, domestic and foreign corporate obligations, domestic non-agency mortgage-backed securities and U.S. Treasury obligations valued at $109,514,095; 0.24% - 13.00%; 09/15/2021 - 06/05/2115), 0.50%, 01/03/2022(d)

$ 50,000,000   $50,000,000
Truist Securities, joint term agreement dated 07/30/2021, aggregate maturing value of $45,014,000 (collateralized by domestic corporate obligations and U.S. Treasury obligations valued at $49,233,749; 2.75% - 7.50%; 08/31/2023 - 10/23/2045), 0.40%, 08/27/2021

  22,507,000   22,500,000
Total Repurchase Agreements

(Cost $202,500,000)

  202,500,000
  Principal
Amount
   
Certificate of Deposit-0.84%
Diversified Banks-0.84%
Sumitomo Mitsui Banking Corp. (Japan), 0.70%, 07/08/2022

(Cost $25,000,000)

  25,000,000   25,013,861
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-99.93%

(Cost $2,968,207,981)

  2,976,789,937
  Shares   Value
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.28%
Invesco Private Government Fund, 0.02%(m)(n)(o)

  2,525,533   $2,525,533
Invesco Private Prime Fund, 0.12%(m)(n)(o)

  5,890,553   5,892,910
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $8,418,443)

  8,418,443
TOTAL INVESTMENTS IN SECURITIES-100.21%

(Cost $2,976,626,424)

  2,985,208,380
OTHER ASSETS LESS LIABILITIES-(0.21)%

  (6,242,131)
NET ASSETS-100.00%

  $2,978,966,249
 
See accompanying notes which are an integral part of this schedule.

Invesco Ultra Short Duration ETF (GSY)—(continued)
July 31, 2021
(Unaudited)
Investment Abbreviations:
Ctfs. -Certificates
LIBOR -London Interbank Offered Rate
REIT -Real Estate Investment Trust
SOFR -Secured Overnight Financing Rate
USD -U.S. Dollar
    
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) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2021 was $1,742,313,018, which represented 58.49% of the Fund’s Net Assets.
(c) All or a portion of this security was out on loan at July 31, 2021.
(d) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on July 31, 2021.
(e) Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(f) Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on July 31, 2021.
(g) Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date.
(h) Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund.
(i) Variable rate senior loan interests often require prepayments from excess cash flow or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with any accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, it is anticipated that the variable rate senior loan interests will have an expected average life of three to five years.
(j) Variable rate senior loan interests are, at present, not readily marketable, not registered under the 1933 Act and may be subject to contractual and legal restrictions on sale. Variable rate senior loan interests in the Fund’s portfolio generally have variable rates which adjust to a base, such as the LIBOR, on set dates, typically every 30 days, but not greater than one year, and/or have interest rates that float at margin above a widely recognized base lending rate such as the Prime Rate of a designated U.S. bank.
(k) Principal amount equals value at period end.  
(l) Either party may terminate the agreement upon demand. Interest rates, principal amount and collateral are redetermined daily.
(m) 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 nine months ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $866,215   $68,658,874   $(66,999,556)   $-   $-   $2,525,533   $208*
Invesco Private Prime Fund 1,299,323   89,604,258   (85,010,889)   -   218   5,892,910   2,350*
Total $2,165,538   $158,263,132   $(152,010,445)   $-   $218   $8,418,443   $2,558
    
* 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.
    
(n) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(o) 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 Variable Rate Investment Grade ETF (VRIG)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
U.S. Dollar Denominated Bonds & Notes-55.72%
Automobile Manufacturers-3.68%
American Honda Finance Corp.        
0.61% (3 mo. USD LIBOR + 0.45%), 02/15/2022(b)

$ 2,500,000   $2,506,435
0.53% (3 mo. USD LIBOR + 0.37%), 05/10/2023(b)

  2,000,000   2,008,179
Daimler Finance North America LLC (Germany), 1.06% (3 mo. USD LIBOR + 0.90%), 02/15/2022(b)(c)

  1,500,000   1,506,996
Ford Motor Credit Co. LLC        
1.42% (3 mo. USD LIBOR + 1.27%), 03/28/2022(b)

  1,000,000   997,049
1.20% (3 mo. USD LIBOR + 1.08%), 08/03/2022(b)

  3,000,000   2,999,879
General Motors Financial Co., Inc.        
1.28% (3 mo. USD LIBOR + 1.10%), 11/06/2021(b)

  2,000,000   2,004,488
1.46% (3 mo. USD LIBOR + 1.31%), 06/30/2022(b)

  1,000,000   1,009,281
1.14% (3 mo. USD LIBOR + 0.99%), 01/05/2023(b)

  1,000,000   1,010,630
0.80% (SOFR + 0.76%), 03/08/2024(b)

  1,154,000   1,163,191
Volkswagen Group of America Finance LLC (Germany), 1.11% (3 mo. USD LIBOR + 0.94%), 11/12/2021(b)(c)

  2,000,000   2,005,159
        17,211,287
Biotechnology-1.65%
AbbVie, Inc.        
0.61% (3 mo. USD LIBOR + 0.46%), 11/19/2021(b)

  2,750,000   2,753,377
0.80% (3 mo. USD LIBOR + 0.65%), 11/21/2022(b)

  3,000,000   3,019,910
Gilead Sciences, Inc., 0.28% (3 mo. USD LIBOR + 0.15%), 09/17/2021(b)

  1,951,000   1,951,320
        7,724,607
Construction Machinery & Heavy Trucks-1.07%
Caterpillar Financial Services Corp., 0.19% (SOFR + 0.15%), 11/17/2022(b)

  5,000,000   5,002,147
Consumer Finance-1.34%
American Express Co., 0.79% (3 mo. USD LIBOR + 0.65%), 02/27/2023(b)

  5,215,000   5,254,965
Capital One Financial Corp., 0.85% (3 mo. USD LIBOR + 0.72%), 01/30/2023(b)

  1,000,000   1,008,107
        6,263,072
Department Stores-0.33%
7-Eleven, Inc., 0.61% (3 mo. USD LIBOR + 0.45%), 08/10/2022(b)(c)

  1,556,000   1,556,397
Diversified Banks-18.93%
Banco Santander S.A. (Spain), 1.68% (3 mo. USD LIBOR + 1.56%), 04/11/2022(b)

  5,200,000   5,250,285
Bank of America Corp.        
1.13% (3 mo. USD LIBOR + 1.00%), 04/24/2023(b)

  3,281,000   3,302,289
0.92% (3 mo. USD LIBOR + 0.79%), 03/05/2024(b)

  3,750,000   3,783,482
0.78% (SOFR + 0.73%), 10/24/2024(b)(d)

  2,000,000   2,014,830
0.95% (3 mo. USD LIBOR + 0.77%), 02/05/2026(b)(d)

  1,042,000   1,056,792
0.88% (3 mo. USD LIBOR + 0.76%), 09/15/2026(b)

  2,696,000   2,681,751
Bank of Nova Scotia (The) (Canada), 0.59% (SOFR + 0.55%), 03/02/2026(b)

  2,500,000   2,502,450
  Principal
Amount
  Value
Diversified Banks-(continued)
Barclays PLC (United Kingdom)        
1.74% (3 mo. USD LIBOR + 1.63%), 01/10/2023(b)

$ 2,000,000   $2,012,590
1.59% (3 mo. USD LIBOR + 1.43%), 02/15/2023(b)

  2,000,000   2,013,299
1.54% (3 mo. USD LIBOR + 1.38%), 05/16/2024(b)

  3,000,000   3,053,386
BPCE S.A. (France), 1.37% (3 mo. USD LIBOR + 1.22%), 05/22/2022(b)(c)

  4,000,000   4,034,953
Capital One N.A., 1.28% (3 mo. USD LIBOR + 1.15%), 01/30/2023(b)

  3,750,000   3,768,889
Citigroup, Inc.        
0.92% (SOFR + 0.87%), 11/04/2022(b)

  2,500,000   2,505,351
1.08% (3 mo. USD LIBOR + 0.95%), 07/24/2023(b)

  1,500,000   1,511,231
1.57% (3 mo. USD LIBOR + 1.43%), 09/01/2023(b)

  2,500,000   2,532,664
1.16% (3 mo. USD LIBOR + 1.02%), 06/01/2024(b)

  4,010,000   4,070,115
0.72% (SOFR + 0.67%), 05/01/2025(b)

  2,500,000   2,512,457
1.40% (3 mo. USD LIBOR + 1.25%), 07/01/2026(b)

  1,882,000   1,938,363
HSBC Holdings PLC (United Kingdom), 1.50% (3 mo. USD LIBOR + 1.38%), 09/12/2026(b)

  3,000,000   3,097,463
ING Groep N.V. (Netherlands)        
1.15% (3 mo. USD LIBOR + 1.00%), 10/02/2023(b)

  1,250,000   1,271,558
1.06% (SOFR + 1.01%), 04/01/2027(b)

  2,999,000   3,028,864
JPMorgan Chase & Co.        
1.36% (3 mo. USD LIBOR + 1.23%), 10/24/2023(b)

  1,900,000   1,926,296
0.58% (SOFR + 0.54%), 06/01/2025(b)

  4,000,000   4,009,572
Mizuho Financial Group, Inc. (Japan), 0.97% (3 mo. USD LIBOR + 0.84%), 07/16/2023(b)

  2,500,000   2,515,757
Natwest Group PLC (United Kingdom)        
1.63% (3 mo. USD LIBOR + 1.47%), 05/15/2023(b)

  4,000,000   4,039,528
1.70% (3 mo. USD LIBOR + 1.55%), 06/25/2024(b)

  4,000,000   4,089,081
NatWest Markets PLC (United Kingdom)        
1.71% (SOFR + 1.66%), 09/29/2022(b)(c)(d)

  2,500,000   2,541,097
0.56% (SOFR + 0.53%), 08/12/2024(b)(c)

  571,000   572,794
Nordea Bank Abp (Finland), 1.08% (3 mo. USD LIBOR + 0.94%), 08/30/2023(b)(c)

  2,987,000   3,032,387
Standard Chartered PLC (United Kingdom)        
1.33% (3 mo. USD LIBOR + 1.20%), 09/10/2022(b)(c)

  1,667,000   1,668,794
1.28% (3 mo. USD LIBOR + 1.15%), 01/20/2023(b)(c)

  3,316,000   3,331,134
Truist Bank, 0.78% (SOFR + 0.73%), 03/09/2023(b)

  2,000,000   2,015,318
USB Realty Corp., 1.27% (3 mo. USD LIBOR + 1.15%)(b)(c)(e)

  1,100,000   869,314
        88,554,134
Electric Utilities-2.56%
American Electric Power Co., Inc., Series A, 0.61% (3 mo. USD LIBOR + 0.48%), 11/01/2023(b)

  3,000,000   3,002,214
Florida Power & Light Co., 0.28% (SOFR + 0.25%), 05/10/2023(b)(d)

  3,478,000   3,478,832
Southern California Edison Co.        
Series D, 0.40% (3 mo. USD LIBOR + 0.27%), 12/03/2021(b)

  2,506,000   2,506,814
Series F, 0.40% (SOFR + 0.35%), 06/13/2022(b)

  3,000,000   3,001,942
        11,989,802
See accompanying notes which are an integral part of this schedule.

Invesco Variable Rate Investment Grade ETF (VRIG)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Financial Exchanges & Data-0.64%
Intercontinental Exchange, Inc., 0.77% (3 mo. USD LIBOR + 0.65%), 06/15/2023(b)

$ 3,000,000   $2,997,693
Gas Utilities-0.47%
CenterPoint Energy Resources Corp., 0.63% (3 mo. USD LIBOR + 0.50%), 03/02/2023(b)

  2,174,000   2,174,548
Health Care Distributors-0.86%
Cardinal Health, Inc., 0.89% (3 mo. USD LIBOR + 0.77%), 06/15/2022(b)(d)

  4,000,000   4,024,304
Health Care Equipment-0.91%
Becton, Dickinson and Co., 1.16% (3 mo. USD LIBOR + 1.03%), 06/06/2022(b)

  4,225,000   4,258,021
Health Care Services-1.45%
Cigna Corp., 1.02% (3 mo. USD LIBOR + 0.89%), 07/15/2023(b)

  4,543,000   4,602,727
Roche Holdings, Inc. (Switzerland), 0.28% (SOFR + 0.24%), 03/05/2024(b)(c)

  2,161,000   2,164,735
        6,767,462
Integrated Telecommunication Services-2.33%
AT&T, Inc.        
1.04% (3 mo. USD LIBOR + 0.89%), 02/15/2023(b)

  2,669,000   2,698,513
1.30% (3 mo. USD LIBOR + 1.18%), 06/12/2024(b)

  3,832,000   3,929,704
Verizon Communications, Inc., 1.26% (3 mo. USD LIBOR + 1.10%), 05/15/2025(b)

  4,127,000   4,250,188
        10,878,405
Investment Banking & Brokerage-5.70%
Goldman Sachs Group, Inc. (The)        
0.90% (3 mo. USD LIBOR + 0.75%), 02/23/2023(b)

  3,000,000   3,026,831
1.18% (3 mo. USD LIBOR + 1.05%), 06/05/2023(b)

  2,500,000   2,517,740
1.13% (3 mo. USD LIBOR + 1.00%), 07/24/2023(b)(d)

  4,500,000   4,533,099
0.58% (SOFR + 0.54%), 11/17/2023(b)

  3,957,000   3,967,589
0.62% (SOFR + 0.58%), 03/08/2024(b)

  2,069,000   2,075,529
1.88% (3 mo. USD LIBOR + 1.75%), 10/28/2027(b)

  1,220,000   1,288,995
Morgan Stanley, 0.75% (SOFR + 0.70%), 01/20/2023(b)

  5,000,000   5,014,120
TD Ameritrade Holding Corp., 0.56% (3 mo. USD LIBOR + 0.43%), 11/01/2021(b)

  4,250,000   4,253,110
        26,677,013
Life & Health Insurance-3.61%
Athene Global Funding        
1.37% (3 mo. USD LIBOR + 1.23%), 07/01/2022(b)(c)

  5,300,000   5,351,287
0.74% (SOFR + 0.70%), 05/24/2024(b)(c)

  5,000,000   5,026,108
Equitable Financial Life Global Funding, 0.44% (SOFR + 0.39%), 04/06/2023(b)(c)(d)

  2,500,000   2,508,715
Jackson National Life Global Funding, 0.88% (3 mo. USD LIBOR + 0.73%), 06/27/2022(b)(c)

  1,000,000   1,005,698
Pacific Life Global Funding II, 0.66% (SOFR + 0.62%), 06/04/2026(b)(c)

  3,000,000   3,010,257
        16,902,065
Multi-line Insurance-1.02%
Metropolitan Life Global Funding I        
0.62% (SOFR + 0.57%), 01/13/2023(b)(c)

  2,000,000   2,013,709
0.37% (SOFR + 0.32%), 01/07/2024(b)(c)

  2,750,000   2,758,446
        4,772,155
  Principal
Amount
  Value
Multi-Utilities-0.52%
CenterPoint Energy, Inc., 0.68% (SOFR + 0.65%), 05/13/2024(b)

$ 1,639,000   $1,641,191
Dominion Energy, Inc., Series D, 0.65% (3 mo. USD LIBOR + 0.53%), 09/15/2023(b)

  769,000   769,838
        2,411,029
Oil & Gas Exploration & Production-0.32%
ConocoPhillips, 1.06% (3 mo. USD LIBOR + 0.90%), 05/15/2022(b)

  1,500,000   1,509,462
Oil & Gas Refining & Marketing-1.44%
Phillips 66, 0.78% (3 mo. USD LIBOR + 0.62%), 02/15/2024(b)(d)

  3,870,000   3,873,800
Valero Energy Corp., 1.27% (3 mo. USD LIBOR + 1.15%), 09/15/2023(b)

  2,878,000   2,881,293
        6,755,093
Oil & Gas Storage & Transportation-0.55%
Enbridge, Inc. (Canada)        
0.66% (3 mo. USD LIBOR + 0.50%), 02/18/2022(b)

  1,300,000   1,303,334
0.43% (SOFR + 0.40%), 02/17/2023(b)

  357,000   357,816
MPLX L.P., 1.22% (3 mo. USD LIBOR + 1.10%), 09/09/2022(b)

  914,000   914,610
        2,575,760
Packaged Foods & Meats-0.85%
General Mills, Inc., 1.14% (3 mo. USD LIBOR + 1.01%), 10/17/2023(b)(d)

  3,937,000   3,991,760
Pharmaceuticals-0.89%
Bayer US Finance II LLC (Germany), 1.13% (3 mo. USD LIBOR + 1.01%), 12/15/2023(b)(c)

  4,105,000   4,161,341
Regional Banks-0.63%
M&T Bank Corp., 0.81% (3 mo. USD LIBOR + 0.68%), 07/26/2023(b)

  2,940,000   2,969,897
Restaurants-0.85%
McDonald’s Corp., 0.56% (3 mo. USD LIBOR + 0.43%), 10/28/2021(b)

  3,953,000   3,957,127
Semiconductors-1.07%
QUALCOMM, Inc., 0.86% (3 mo. USD LIBOR + 0.73%), 01/30/2023(b)(d)

  4,950,000   4,997,940
Tobacco-0.75%
BAT Capital Corp. (United Kingdom), 1.04% (3 mo. USD LIBOR + 0.88%), 08/15/2022(b)

  3,500,000   3,521,838
Trading Companies & Distributors-1.30%
Air Lease Corp., 0.49% (3 mo. USD LIBOR + 0.35%), 12/15/2022(b)

  3,000,000   3,003,666
BOC Aviation Ltd. (Singapore), 1.27% (3 mo. USD LIBOR + 1.13%), 09/26/2023(b)(c)

  3,082,000   3,086,883
        6,090,549
Total U.S. Dollar Denominated Bonds & Notes

(Cost $259,232,280)

  260,694,908
Agency Credit Risk Transfer Notes-15.28%
Fannie Mae Connecticut Avenue Securities        
Series 2015-C04, Class 1M2, 5.79% (1 mo. USD LIBOR + 5.70%), 04/25/2028(b)(f)

  1,171,935   1,241,653
Series 2017-C03, Class 1M2, 3.09% (1 mo. USD LIBOR + 3.00%), 10/25/2029(b)(f)

  4,220,392   4,339,500
Series 2017-C05, Class 1M2, 2.29% (1 mo. USD LIBOR + 2.20%), 01/25/2030(b)(f)

  4,274,675   4,366,162
Series 2018-C01, Class 1M2, 2.34% (1 mo. USD LIBOR + 2.25%), 07/25/2030(b)(f)

  6,829,106   6,912,854
Series 2018-C04, Class 2M2, 2.64% (1 mo. USD LIBOR + 2.55%), 12/25/2030(b)(f)

  4,324,081   4,383,330
 
See accompanying notes which are an integral part of this schedule.

Invesco Variable Rate Investment Grade ETF (VRIG)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Series 2018-C06, Class 1M2, 2.09% (1 mo. USD LIBOR + 2.00%), 03/25/2031(b)(f)

$ 3,642,456   $3,675,835
Series 2019-R01, Class 2M2, 2.54% (1 mo. USD LIBOR + 2.45%), 07/25/2031(b)(c)(f)

  2,718,245   2,734,142
Freddie Mac        
Series 2016-HQA3, Class M2, STACR®, 1.44% (1 mo. USD LIBOR + 1.35%), 03/25/2029(b)(g)

  359,327   359,223
Series 2017-DNA3, Class M2, STACR®, 2.59% (1 mo. USD LIBOR + 2.50%), 03/25/2030(b)(g)

  5,455,486   5,578,843
Series 2018-HQA1, Class M2, STACR®, 2.39% (1 mo. USD LIBOR + 2.30%), 09/25/2030(b)(g)

  4,229,433   4,271,506
Series 2018-HQA2, Class M2, STACR®, 2.39% (1 mo. USD LIBOR + 2.30%), 10/25/2048(b)(c)(g)

  5,500,000   5,551,092
Series 2019-HQA3, Class M2, STACR®, 1.94% (1 mo. USD LIBOR + 1.85%), 09/25/2049(b)(c)(g)

  3,546,131   3,560,999
Series 2020-DNA3, Class M2, STACR®, 3.09% (1 mo. USD LIBOR + 3.00%), 06/25/2050(b)(c)(g)

  2,152,224   2,164,019
Series 2020-DNA5, Class M1, STACR®, 1.35% (30 Day Average SOFR + 1.30%), 10/25/2050(b)(c)(g)

  67,864   67,869
Series 2020-HQA5, Class M1, STACR®, 1.15% (30 Day Average SOFR + 1.10%), 11/25/2050(b)(c)(g)

  1,421,784   1,423,252
Series 2021-DNA2, Class M1, STACR®, 0.85% (30 Day Average SOFR + 0.80%), 08/25/2033(b)(c)(g)

  3,000,000   3,004,063
Series 2021-DNA2, Class M2, STACR®, 2.35% (30 Day Average SOFR + 2.30%), 08/25/2033(b)(c)(g)

  4,820,000   4,949,534
Series 2021-DNA3, Class M1, STACR®, 0.80% (30 Day Average SOFR + 0.75%), 10/25/2033(b)(c)(g)

  3,000,000   3,004,539
Series 2021-DNA3, Class M2, STACR®, 2.15% (30 Day Average SOFR + 2.10%), 10/25/2033(b)(c)(g)

  3,125,000   3,191,636
Series 2021-DNA5, Class M1, STACR®, 0.70% (30 Day Average SOFR + 0.65%), 01/25/2034(b)(c)(g)

  1,750,000   1,750,590
Series 2021-DNA5, Class M2, STACR®, 1.70% (30 Day Average SOFR + 1.65%), 01/25/2034(b)(c)(g)

  365,000   367,604
Series 2021-HQA1, Class M1, STACR®, 0.75% (30 Day Average SOFR + 0.70%), 08/25/2033(b)(c)(g)

  4,604,000   4,605,896
Total Agency Credit Risk Transfer Notes

(Cost $70,720,773)

  71,504,141
Asset-Backed Securities-15.27%
Adjustable Rate Mortgage Trust, Series 2004-2, Class 6A1, 0.71%, 02/25/2035(h)

  139,469   144,672
BAMLL Commercial Mortgage Securities Trust, Series 2019-RLJ, Class B, 1.44% (1 mo. USD LIBOR + 1.35%), 04/15/2036(b)(c)

  4,000,000   3,987,796
BBCMS Mortgage Trust, Series 2019-BWAY, Class B, 1.40% (1 mo. USD LIBOR + 1.31%), 11/15/2034(b)(c)

  3,250,000   3,233,161
Bear Stearns Adjustable Rate Mortgage Trust        
Series 2003-7, Class 6A, 2.48%, 10/25/2033(h)

  179,393   184,724
Series 2003-8, Class 4A1, 2.67%, 01/25/2034(h)

  181,133   187,519
BX Trust, Series 2020-VKNG, Class A, 1.02% (1 mo. USD LIBOR + 0.93%), 10/15/2037(b)(c)

  2,000,000   2,006,221
  Principal
Amount
  Value
COMM Mortgage Trust, Series 2019-521F, Class C, 1.39% (1 mo. USD LIBOR + 1.30%), 06/15/2034(b)(c)

$ 4,000,000   $3,905,293
Commonbond Student Loan Trust        
Series 2017-BGS, Class A2, 0.74% (1 mo. USD LIBOR + 0.65%), 09/25/2042(b)(c)

  562,442   558,450
Series 2018-AGS, Class A2, 0.59% (1 mo. USD LIBOR + 0.50%), 02/25/2044(b)(c)

  1,071,944   1,065,583
Edsouth Indenture No. 9 LLC, Series 2015-1, Class A, 0.89% (1 mo. USD LIBOR + 0.80%), 10/25/2056(b)(c)

  551,156   554,360
Great Wolf Trust, Series 2019-WOLF, Class B, 1.43% (1 mo. USD LIBOR + 1.33%), 12/15/2036(b)(c)

  1,650,000   1,652,728
GS Mortgage Securities Trust, Series 2021-ROSS, Class A, 1.24% (1 mo. USD LIBOR + 1.15%), 05/15/2026(b)(c)

  2,500,000   2,506,812
Home Equity Asset Trust, Series 2004-5, Class M2, 1.03% (1 mo. USD LIBOR + 0.95%), 11/25/2034(b)

  1,106,896   1,109,775
Home Partners of America Trust        
Series 2017-1, Class A, 0.91% (1 mo. USD LIBOR + 0.82%), 07/17/2034(b)(c)

  2,885,202   2,885,311
Series 2018-1, Class A, 0.99% (1 mo. USD LIBOR + 0.90%), 07/17/2037(b)(c)

  2,929,685   2,938,393
Series 2018-1, Class B, 1.19% (1 mo. USD LIBOR + 1.10%), 07/17/2037(b)(c)

  1,760,000   1,763,144
Invitation Homes Trust        
Series 2017-SFR2, Class A, 0.94% (1 mo. USD LIBOR + 0.85%), 12/17/2036(b)(c)

  1,783,473   1,788,958
Series 2017-SFR2, Class C, 1.54% (1 mo. USD LIBOR + 1.45%), 12/17/2036(b)(c)

  5,619,053   5,628,994
Series 2018-SFR1, Class B, 1.04% (1 mo. USD LIBOR + 0.95%), 03/17/2037(b)(c)

  1,000,000   1,003,150
Series 2018-SFR3, Class B, 1.24% (1 mo. USD LIBOR + 1.15%), 07/17/2037(b)(c)

  4,000,000   4,022,235
Series 2018-SFR4, Class C, 1.49% (1 mo. USD LIBOR + 1.40%), 01/17/2038(b)(c)

  3,000,000   3,012,883
J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2018-PHH, Class B, 2.81% (1 mo. USD LIBOR + 1.31%), 06/15/2035(b)(c)

  2,385,000   2,358,696
JP Morgan Mortgage Trust        
Series 2019-6, Class A11, 0.99% (1 mo. USD LIBOR + 0.90%), 12/25/2049(b)(c)

  229,461   230,659
Series 2019-INV2, Class A1, 0.99% (1 mo. USD LIBOR + 0.90%), 02/25/2050(b)(c)

  495,338   499,721
Series 2019-INV3, Class A11, 1.09% (1 mo. USD LIBOR + 1.00%), 05/25/2050(b)(c)

  197,975   199,496
Series 2019-LTV3, Class A1, 0.94% (1 mo. USD LIBOR + 0.85%), 03/25/2050(b)(c)

  378,500   378,576
Series 2020-8, Class A11, 0.92% (30 Day Average SOFR + 0.90%), 03/25/2051(b)(c)

  376,688   377,332
Series 2020-LTV1, Class A11, 1.09% (1 mo. USD LIBOR + 1.00%), 06/25/2050(b)(c)

  140,625   141,338
Series 2021-1, Class A11, 0.67% (30 Day Average SOFR + 0.65%), 06/25/2051(b)(c)

  894,003   891,573
Merrill Lynch Mortgage Investors Trust        
Series 2003-F, Class A1, 0.73% (1 mo. USD LIBOR + 0.64%), 10/25/2028(b)

  127,223   128,032
Series 2005-A2, Class A5, 2.82%, 02/25/2035(h)

  65,726   66,572
OBX Trust        
Series 2018-EXP1, Class 2A1, 0.94% (1 mo. USD LIBOR + 0.85%), 04/25/2048(b)(c)

  922,706   929,839
Series 2018-EXP2, Class 2A2, 1.04% (1 mo. USD LIBOR + 0.95%), 07/25/2058(b)(c)

  897,618   907,786
 
See accompanying notes which are an integral part of this schedule.

Invesco Variable Rate Investment Grade ETF (VRIG)—(continued)
July 31, 2021
(Unaudited)
  Principal
Amount
  Value
Series 2019-EXP1, Class 2A2, 1.24% (1 mo. USD LIBOR + 1.15%), 01/25/2059(b)(c)

$ 484,889   $490,265
Series 2019-EXP2, Class 2A2, 1.29% (1 mo. USD LIBOR + 1.20%), 06/25/2059(b)(c)

  911,327   908,160
Series 2020-EXP1, Class 2A2, 1.04% (1 mo. USD LIBOR + 0.95%), 02/25/2060(b)(c)

  777,891   775,959
Series 2020-EXP3, Class 2A2, 1.29% (1 mo. USD LIBOR + 1.20%), 01/25/2060(b)(c)

  1,214,726   1,219,539
Series 2020-INV1, Class A11, 0.99% (1 mo. USD LIBOR + 0.90%), 12/25/2049(b)(c)

  449,211   449,357
Pennsylvania Higher Education Assistance Agency, Series 2009-2, Class A2, 1.23% (3 mo. USD LIBOR + 1.10%), 01/25/2028(b)

  590,330   592,776
RLGH Trust 2021-TROT, Series 2021-TROT, Class B, 1.26% (1 mo. USD LIBOR + 1.16%), 04/15/2036(b)(c)

  3,000,000   3,002,569
SMB Private Education Loan Trust        
Series 2019-B, Class A2B, 1.09% (1 mo. USD LIBOR + 1.00%), 06/15/2037(b)(c)

  3,502,117   3,542,793
Series 2020-A, Class A2B, 0.92% (1 mo. USD LIBOR + 0.83%), 09/15/2037(b)(c)

  2,000,000   2,015,840
Series 2021-A, Class A2A2, 0.82% (1 mo. USD LIBOR + 0.73%), 01/15/2053(b)(c)

  4,550,000   4,566,980
WaMu Mortgage Pass-Through Ctfs. Trust, Series 2004-AR3, Class A2, 2.58%, 06/25/2034(h)

  68,758   70,757
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class A6FL, 1.64% (1 mo. USD LIBOR + 1.55%), 01/15/2059(b)(c)

  2,500,000   2,570,199
Total Asset-Backed Securities

(Cost $71,281,077)

  71,454,976
U.S. Treasury Securities-7.96%
U.S. Treasury Notes-7.96%
0.08% (3 mo. U.S. Treasury Bill Money Market Yield Rate + 0.03%), 04/30/2023(b)

(Cost $37,252,310)

  37,250,000   37,260,910
U.S. Government Sponsored Agency Mortgage-Backed
Securities-5.62%
Collateralized Mortgage Obligations-4.97%
Fannie Mae REMICs        
Series 2005-57, Class KJ, 0.39% (1 mo. USD LIBOR + 0.30%), 04/25/2035(b)

  2,373,219   2,379,920
Series 2011-127, Class FJ, 0.44% (1 mo. USD LIBOR + 0.35%), 09/25/2041(b)

  35,137   35,266
Series 2014-92, Class FB, 0.41% (1 mo. USD LIBOR + 0.32%), 01/25/2045(b)

  983,188   968,936
Series 2016-25, Class FL, 0.59% (1 mo. USD LIBOR + 0.50%), 05/25/2046(b)

  318,855   321,760
Series 2017-100, Class FM, 0.41% (1 mo. USD LIBOR + 0.32%), 12/25/2047(b)

  349,682   348,765
Series 2017-68, Class AF, 0.39% (1 mo. USD LIBOR + 0.30%), 09/25/2047(b)

  1,018,710   1,015,169
Freddie Mac Multifamily Structured Credit Risk, Series 2021-MN2, Class M1, 1.90% (30 Day Average SOFR + 1.80%), 07/25/2041(b)(c)

  715,000   719,928
Freddie Mac Multifamily Structured Pass-Through Ctfs.        
Series KF35, Class A, 0.45% (1 mo. USD LIBOR + 0.35%), 08/25/2024(b)

  593,246   594,074
Series KF35, Class A, 0.49% (1 mo. USD LIBOR + 0.39%), 10/25/2025(b)

  2,016,905   2,025,349
  Principal
Amount
  Value
Collateralized Mortgage Obligations-(continued)
Series KF81, Class AS, 0.43% (30 Day Average SOFR + 0.40%), 06/25/2027(b)

$ 4,685,100   $4,706,014
Series Q008, Class A, 0.49% (1 mo. USD LIBOR + 0.39%), 10/25/2045(b)

  1,710,203   1,716,428
Freddie Mac REMICs        
Series 4001, Class NF, 0.59% (1 mo. USD LIBOR + 0.50%), 01/15/2039(b)

  910,296   910,924
Series 4091, Class JF, 0.59% (1 mo. USD LIBOR + 0.50%), 06/15/2041(b)

  238,308   241,975
Series 4547, Class FA, 0.54% (1 mo. USD LIBOR + 0.45%), 09/15/2040(b)

  835,836   838,998
Series 4683, Class FA, 0.44% (1 mo. USD LIBOR + 0.35%), 09/15/2038(b)

  1,035,237   1,050,186
Series 4750, Class CF, 0.44% (1 mo. USD LIBOR + 0.35%), 01/15/2048(b)

  4,349,934   4,384,190
Series 4770, Class FA, 0.41% (1 mo. USD LIBOR + 0.32%), 08/15/2043(b)

  980,686   995,538
        23,253,420
Federal Home Loan Mortgage Corp. (FHLMC)-0.24%
ARM, 1.98% (1 yr. USD LIBOR + 1.62%), 06/01/2037(b)

  293,640   310,749
ARM, 2.18% (1 yr. USD LIBOR + 1.74%), 11/01/2038(b)

  431,722   458,574
ARM, 2.17% (1 yr. USD LIBOR + 1.73%), 03/01/2043(b)

  345,171   364,454
        1,133,777
Federal National Mortgage Association (FNMA)-0.41%
ARM, 2.02% (1 yr. USD LIBOR + 1.64%), 02/01/2035(b)

  53,705   53,628
ARM, 1.77% (6 mo. USD LIBOR + 1.57%), 07/01/2035(b)

  58,322   60,822
ARM, 2.39% (1 yr. U.S. Treasury Yield Curve Rate + 2.33%), 07/01/2035(b)

  972,869   1,038,557
ARM, 2.27% (1 yr. USD LIBOR + 1.77%), 10/01/2036(b)

  221,312   235,163
ARM, 2.16% (1 yr. USD LIBOR + 1.78%), 03/01/2037(b)

  212,812   213,721
ARM, 1.98% (1 yr. USD LIBOR + 1.59%), 11/01/2037(b)

  294,854   311,897
        1,913,788
Total U.S. Government Sponsored Agency Mortgage-Backed Securities

(Cost $26,195,537)

  26,300,985
  Shares    
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(i)(j)

(Cost $395,875)

  395,875   395,875
TOTAL INVESTMENTS IN SECURITIES

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

(Cost $465,077,852)

  467,611,795
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-1.20%
Invesco Private Government Fund, 0.02%(i)(j)(k)

  1,690,008   1,690,008
 
See accompanying notes which are an integral part of this schedule.

Invesco Variable Rate Investment Grade ETF (VRIG)—(continued)
July 31, 2021
(Unaudited)
  Shares   Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 0.12%(i)(j)(k)

  3,941,775   $3,943,352
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $5,633,360)

  5,633,360
TOTAL INVESTMENTS IN SECURITIES-101.14%

(Cost $470,711,212)

  473,245,155
OTHER ASSETS LESS LIABILITIES-(1.14)%

  (5,323,795)
NET ASSETS-100.00%

  $467,921,360
Investment Abbreviations:
ARM -Adjustable Rate Mortgage
Ctfs. -Certificates
LIBOR -London Interbank Offered Rate
REMICs -Real Estate Mortgage Investment Conduits
SOFR -Secured Overnight Financing Rate
STACR® -Structured Agency Credit Risk
USD -U.S. Dollar
    
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) Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on July 31, 2021.
(c) Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at July 31, 2021 was $158,271,516, which represented 33.82% of the Fund’s Net Assets.
(d) All or a portion of this security was out on loan at July 31, 2021.
(e) Perpetual bond with no specified maturity date.
(f) CAS notes are bonds issued by Fannie Mae. The amount of periodic principal and ultimate principal paid by Fannie Mae is determined by the performance of a large and diverse reference pool.
(g) Principal payments are determined by the delinquency and principal payment experience on the STACR® reference pool. Freddie Mac transfers credit risk from the mortgages in the reference pool to credit investors who invest in the STACR® debt notes.
(h) Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on July 31, 2021.
(i) 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 nine months ended July 31, 2021.
    
  Value
October 31, 2020
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Invesco Variable Rate Preferred ETF $1,723,400   $-   $(1,772,361)   $(116,800)   $165,761   $-   $-
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class 886,923   128,454,201   (128,945,249)   -   -   395,875   390
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 302,095   79,009,073   (77,621,160)   -   -   1,690,008   263*
Invesco Private Prime Fund 453,145   137,306,201   (133,816,140)   -   146   3,943,352   3,180*
Total $3,365,563   $344,769,475   $(342,154,910)   $(116,800)   $165,907   $6,029,235   $3,833
    
* 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.
    
(j) The rate shown is the 7-day SEC standardized yield as of July 31, 2021.
(k) 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, 2021
(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 or are unreliable. 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 a Fund’s own 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, 2021, for each Fund (except for Ultra Short Duration ETF). As of July 31, 2021, all of the securities in Ultra Short Duartion ETF were valued based on Level 2 inputs (see the Schedules of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
  Level 1   Level 2   Level 3   Total
Invesco Active U.S. Real Estate ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $127,936,087   $-   $-   $127,936,087
Money Market Funds 10,676   3,682,053   -   3,692,729
Total Investments $127,946,763   $3,682,053   $-   $131,628,816
Invesco Balanced Multi-Asset Allocation ETF              
Investments in Securities              
Affiliated Issuers $19,251,513   $-   $-   $19,251,513
Money Market Funds 1,145   1,736,974   -   1,738,119
Total Investments $19,252,658   $1,736,974   $-   $20,989,632
Invesco Conservative Multi-Asset Allocation ETF              
Investments in Securities              
Affiliated Issuers $10,832,414   $-   $-   $10,832,414
Money Market Funds 119   1,628,117   -   1,628,236
Total Investments $10,832,533   $1,628,117   $-   $12,460,650
Invesco Growth Multi-Asset Allocation ETF              
Investments in Securities              
Affiliated Issuers $17,104,329   $-   $-   $17,104,329
Money Market Funds 1,628   1,048,683   -   1,050,311
Total Investments $17,105,957   $1,048,683   $-   $18,154,640

  Level 1   Level 2   Level 3   Total
Invesco High Yield Bond Factor ETF              
Investments in Securities              
U.S. Dollar Denominated Bonds & Notes $-   $40,170,304   $-   $40,170,304
U.S. Treasury Securities -   70,990   -   70,990
Money Market Funds 22,257   2,659,506   -   2,681,763
Total Investments in Securities 22,257   42,900,800   -   42,923,057
Other Investments - Assets*              
Futures Contracts 118,820   -   -   118,820
Other Investments - Liabilities*              
Futures Contracts (352)   -   -   (352)
Total Other Investments 118,468   -   -   118,468
Total Investments $140,725   $42,900,800   $-   $43,041,525
Invesco Moderately Conservative Multi-Asset Allocation ETF              
Investments in Securities              
Affiliated Issuers $16,040,831   $-   $-   $16,040,831
Money Market Funds -   1,148,960   -   1,148,960
Total Investments $16,040,831   $1,148,960   $-   $17,189,791
Invesco S&P 500® Downside Hedged ETF              
Investments in Securities              
Common Stocks & Other Equity Interests $125,983,969   $-   $-   $125,983,969
Money Market Funds 65,415,488   102,119   -   65,517,607
Total Investments in Securities 191,399,457   102,119   -   191,501,576
Other Investments - Assets*              
Futures Contracts 645,552   -   -   645,552
Total Investments $192,045,009   $102,119   $-   $192,147,128
Invesco Total Return Bond ETF              
Investments in Securities              
U.S. Dollar Denominated Bonds & Notes $-   $414,081,373   $3,179,000   $417,260,373
U.S. Treasury Securities -   195,195,762   -   195,195,762
Asset-Backed Securities -   113,173,518   -   113,173,518
U.S. Government Sponsored Agency Mortgage-Backed Securities -   99,749,678   -   99,749,678
Preferred Stocks 402,328   5,432,089   -   5,834,417
U.S. Government Sponsored Agency Securities -   3,149,454   -   3,149,454
Municipal Obligations -   3,020,626   -   3,020,626
Agency Credit Risk Transfer Notes -   1,774,524   -   1,774,524
Options Purchased 778,908   -   -   778,908
Non-U.S. Dollar Denominated Bonds & Notes -   486,896   -   486,896
Money Market Funds -   40,590,754   -   40,590,754
Total Investments in Securities 1,181,236   876,654,674   3,179,000   881,014,910
Other Investments - Assets*              
Forward Foreign Currency Contracts -   27,664   -   27,664
Futures Contracts 209,021   -   -   209,021
Swap Agreements -   66,567   -   66,567
  209,021   94,231   -   303,252
Other Investments - Liabilities*              
Futures Contracts (4,728,614)   -   -   (4,728,614)
Options written (46,360)   (129,711)   -   (176,071)
  (4,774,974)   (129,711)   -   (4,904,685)
Total Other Investments (4,565,953)   (35,480)   -   (4,601,433)
Total Investments $(3,384,717)   $876,619,194   $3,179,000   $876,413,477

  Level 1   Level 2   Level 3   Total
Invesco Variable Rate Investment Grade ETF              
Investments in Securities              
U.S. Dollar Denominated Bonds & Notes $-   $260,694,908   $-   $260,694,908
Agency Credit Risk Transfer Notes -   71,504,141   -   71,504,141
Asset-Backed Securities -   71,454,976   -   71,454,976
U.S. Treasury Securities -   37,260,910   -   37,260,910
U.S. Government Sponsored Agency Mortgage-Backed Securities -   26,300,985   -   26,300,985
Money Market Funds 395,875   5,633,360   -   6,029,235
Total Investments $395,875   $472,849,280   $-   $473,245,155
    
* Forward foreign currency contracts, futures contracts and swap agreements are valued at unrealized appreciation (depreciation). Options written are shown at value.