| ADR | – American Depositary Receipt |
| GDR | – Global Depositary Receipt |
| PC | – Participation Certificate |
| Pfd. | – Preferred |
| (a) | The Fund holds securities which have been issued by the same entity and that trade on separate exchanges. |
| (b) | Non-income producing security. |
| (c) | Security valued using significant unobservable inputs (Level 3). See Note 1. |
| (d) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at January 31, 2022 was $350,316, which represented 1.69% of the Fund’s Net Assets. |
| (e) | Zero coupon bond issued at a discount. |
| (f) | Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended January 31, 2022. |
| Value October 31, 2021 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation (Depreciation) | Realized Gain (Loss) | Value January 31, 2022 | Dividend Income | |
| Investments in Affiliated Money Market Funds: | |||||||
| Invesco Government & Agency Portfolio, Institutional Class | $705,491 | $900,974 | $(580,637) | $- | $- | $1,025,828 | $62 |
| Invesco Liquid Assets Portfolio, Institutional Class | 880,433 | 643,553 | (414,741) | (143) | (85) | 1,109,017 | 35 |
| Invesco Treasury Portfolio, Institutional Class | 806,276 | 1,029,684 | (663,585) | - | - | 1,172,375 | 28 |
| Total | $2,392,200 | $2,574,211 | $(1,658,963) | $(143) | $(85) | $3,307,220 | $125 |
| (g) | The rate shown is the 7-day SEC standardized yield as of January 31, 2022. |
| Open Exchange-Traded Index Options Written | ||||||||||
| Description | Type of Contract | Expiration Date | Number of Contracts | Exercise Price | Notional Value* | Value | ||||
| Equity Risk | ||||||||||
| MSCI Emerging Markets Index | Call | 02/18/2022 | 13 | USD | 1,275.00 | USD | 1,657,500 | $(4,420) | ||
| Equity Risk | ||||||||||
| MSCI Emerging Markets Index | Put | 02/18/2022 | 13 | USD | 1,175.00 | USD | 1,527,500 | (9,360) | ||
| Total Index Options Written | $(13,780) | |||||||||
| * | Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier. |
| Open Futures Contracts(a) | |||||
| Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
| Currency Risk | |||||
| Canadian Dollar | 20 | March-2022 | $1,574,900 | $604 | $604 |
| Equity Risk | |||||
| S&P/TSX 60 Index | 8 | March-2022 | 1,607,238 | 11,191 | 11,191 |
| Subtotal—Long Futures Contracts | 11,795 | 11,795 | |||
| Short Futures Contracts | |||||
| Equity Risk | |||||
| MSCI Emerging Markets Index | 25 | March-2022 | (1,531,000) | (6,548) | (6,548) |
| Total Futures Contracts | $5,247 | $5,247 | |||
| (a) | Futures contracts collateralized by $2,034,391 cash held with Merrill Lynch International, the futures commission merchant. |
| Open Over-The-Counter Total Return Swap Agreements(a) | |||||||||||
| Counterparty | Pay/ Receive | Reference Entity | Floating Rate Index | Payment Frequency | Number of Contracts | Maturity Date | Notional Value | Upfront Payments Paid (Received) | Value | Unrealized Appreciation (Depreciation) | |
| Equity Risk | |||||||||||
| BNP Paribas S.A. | Receive | MSCI EAFE Minimum Volatility Index | SOFR + 0.150% | Monthly | 767 | April—2022 | USD | 1,681,916 | $— | $(70,418) | $(70,418) |
| Goldman Sachs International | Receive | MSCI Emerging Markets Minimum Volatility Daily Net Total Return Index | 1 Month USD LIBOR + 0.720% | Monthly | 345 | June—2022 | USD | 732,708 | — | (25,889) | (25,889) |
| J.P. Morgan Chase Bank, N.A. | Receive | MSCI Emerging Markets Minimum Volatility Daily Net Total Return Index | 1 Month USD LIBOR + 0.790% | Monthly | 534 | May—2022 | USD | 1,134,104 | — | (40,071) | (40,071) |
| J.P. Morgan Chase Bank, N.A. | Receive | MSCI Emerging Markets Minimum Volatility Daily Net Total Return Index | SOFR + 0.920% | Monthly | 231 | May—2022 | USD | 482,926 | — | (9,665) | (9,665) |
| Total — Total Return Swap Agreements | $— | $(146,043) | $(146,043) | ||||||||
| (a) | The Fund receives or pays payments based on any positive or negative return on the Reference Entity, respectively. |
| Abbreviations: | |
| LIBOR | —London Interbank Offered Rate |
| SOFR | —Secured Overnight Financing Rate |
| USD | —U.S. Dollar |
| Level 1 | Level 2 | Level 3 | Total | |
| Investments in Securities | ||||
| Australia | $201,794 | $605,266 | $— | $807,060 |
| Austria | — | 6,691 | — | 6,691 |
| Belgium | — | 63,426 | — | 63,426 |
| Brazil | 420,172 | — | — | 420,172 |
| Chile | 24,889 | — | — | 24,889 |
| China | 314,268 | 1,287,596 | 1,154 | 1,603,018 |
| Denmark | — | 627,032 | — | 627,032 |
| Finland | — | 167,766 | — | 167,766 |
| France | — | 1,118,097 | — | 1,118,097 |
| Germany | — | 939,286 | — | 939,286 |
| Greece | — | 16,515 | — | 16,515 |
| Hong Kong | — | 443,552 | — | 443,552 |
| Hungary | — | 27,343 | — | 27,343 |
| Indonesia | — | 82,544 | — | 82,544 |
| Ireland | — | 23,691 | — | 23,691 |
| Italy | — | 152,651 | — | 152,651 |
| Japan | — | 2,587,507 | — | 2,587,507 |
| Luxembourg | — | 10,322 | — | 10,322 |
| Malaysia | — | 57,597 | — | 57,597 |
| Mexico | 105,335 | — | — | 105,335 |
| Multinational | — | — | 194,801 | 194,801 |
| Netherlands | 78,910 | 790,978 | — | 869,888 |
| Peru | 4,440 | — | — | 4,440 |
| Philippines | — | 16,103 | — | 16,103 |
| Poland | — | 19,427 | — | 19,427 |
| Russia | 257,937 | 32,759 | — | 290,696 |
| Singapore | — | 13,004 | — | 13,004 |
| South Africa | — | 196,765 | — | 196,765 |
| South Korea | — | 402,469 | — | 402,469 |
| Spain | — | 312,293 | — | 312,293 |
| Sweden | — | 314,065 | — | 314,065 |
| Switzerland | — | 1,553,013 | — | 1,553,013 |
| Taiwan | 333,164 | 350,167 | — | 683,331 |
| United Kingdom | 22,460 | 946,479 | — | 968,939 |
| United States | 112,507 | 153,690 | — | 266,197 |
| Vietnam | — | 7 | — | 7 |
| Money Market Funds | 3,307,220 | — | — | 3,307,220 |
| Total Investments in Securities | 5,183,096 | 13,318,101 | 195,955 | 18,697,152 |
| Level 1 | Level 2 | Level 3 | Total | |
| Other Investments - Assets* | ||||
| Futures Contracts | $11,795 | $— | $— | $11,795 |
| Other Investments - Liabilities* | ||||
| Futures Contracts | (6,548) | — | — | (6,548) |
| Options Written | (13,780) | — | — | (13,780) |
| Swap Agreements | — | (146,043) | — | (146,043) |
| (20,328) | (146,043) | — | (166,371) | |
| Total Other Investments | (8,533) | (146,043) | — | (154,576) |
| Total Investments | $5,174,563 | $13,172,058 | $195,955 | $18,542,576 |
| * | Futures contracts and swap agreements are valued at unrealized appreciation (depreciation). Options written are shown at value. |
| Value 10/31/21 | Purchases at Cost | Proceeds from Sales | Accrued Discounts/ Premiums | Realized Gain | Change in Unrealized Appreciation (Depreciation) | Transfers into Level 3 | Transfers out of Level 3 | Value 01/31/22 | |
| Event-Linked Bonds | $101,488 | $— | $— | $— | $— | $(3,320) | $— | $— | $98,168 |
| Preferred Stocks | 106,327 | — | (13,398) | — | 7,085 | (3,381) | — | — | 96,633 |
| Common Stocks & Other Equity Interests | 1,157 | — | — | — | — | (3) | — | — | 1,154 |
| Total | $208,972 | $— | $(13,398) | $— | $7,085 | $(6,704) | $— | $— | $195,955 |