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Invesco Semi-Annual Report to Shareholders

October 31, 2019

 

PBE   Invesco Dynamic Biotechnology & Genome ETF
PKB   Invesco Dynamic Building & Construction ETF
PXE   Invesco Dynamic Energy Exploration & Production ETF
PBJ   Invesco Dynamic Food & Beverage ETF
PEJ   Invesco Dynamic Leisure and Entertainment ETF
PBS   Invesco Dynamic Media ETF
PXQ   Invesco Dynamic Networking ETF
PXJ   Invesco Dynamic Oil & Gas Services ETF
PJP   Invesco Dynamic Pharmaceuticals ETF
PMR   invesco Dynamic Retail ETF
PSI   Invesco Dynamic Semiconductors ETF
PSJ   Invesco Dynamic Software ETF

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Table of Contents

 

Schedules of Investments   

Invesco Dynamic Biotechnology & Genome ETF (PBE)

     3  

Invesco Dynamic Building & Construction ETF (PKB)

     4  

Invesco Dynamic Energy Exploration & Production ETF (PXE)

     5  

Invesco Dynamic Food & Beverage ETF (PBJ)

     7  

Invesco Dynamic Leisure and Entertainment ETF (PEJ)

     9  

Invesco Dynamic Media ETF (PBS)

     11  

Invesco Dynamic Networking ETF (PXQ)

     13  

Invesco Dynamic Oil & Gas Services ETF (PXJ)

     15  

Invesco Dynamic Pharmaceuticals ETF (PJP)

     17  

invesco Dynamic Retail ETF (PMR)

     18  

Invesco Dynamic Semiconductors ETF (PSI)

     20  

Invesco Dynamic Software ETF (PSJ)

     21  
Statements of Assets and Liabilities      24  
Statements of Operations      26  
Statements of Changes in Net Assets      28  
Financial Highlights      32  
Notes to Financial Statements      44  
Fund Expenses      53  
Proxy Results      55  

 

 

  2  

 


 

Invesco Dynamic Biotechnology & Genome ETF (PBE)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.04%

 

Biotechnology-97.40%     

Alexion Pharmaceuticals, Inc.(b)

    98,252      $ 10,355,761  

Alkermes PLC(b)

    286,393        5,593,255  

Amgen, Inc.

    53,246        11,354,709  

Arena Pharmaceuticals, Inc.(b)

    111,548        5,434,061  

Arrowhead Pharmaceuticals, Inc.(b)(c)

    172,443        6,906,342  

Biogen, Inc.(b)

    50,059        14,953,124  

Celgene Corp.(b)

    113,488        12,260,109  

Coherus Biosciences, Inc.(b)

    274,743        4,772,286  

Emergent BioSolutions, Inc.(b)

    141,644        8,096,371  

Enanta Pharmaceuticals, Inc.(b)

    84,287        5,131,393  

Exelixis, Inc.(b)

    308,592        4,767,746  

FibroGen, Inc.(b)

    131,252        5,138,516  

Genomic Health, Inc.(b)

    79,895        5,327,399  

Gilead Sciences, Inc.

    172,876        11,013,930  

Halozyme Therapeutics, Inc.(b)

    365,432        5,598,418  

Incyte Corp.(b)

    133,683        11,218,677  

Ironwood Pharmaceuticals, Inc.(b)

    644,997        6,475,770  

Myriad Genetics, Inc.(b)

    257,556        8,671,910  

Natera, Inc.(b)

    183,611        7,072,696  

Neurocrine Biosciences, Inc.(b)

    112,422        11,184,865  

Portola Pharmaceuticals, Inc.(b)(c)

    204,330        5,907,180  

Radius Health, Inc.(b)

    226,844        6,451,443  

Repligen Corp.(b)

    64,632        5,137,598  

United Therapeutics Corp.(b)

    72,663        6,528,044  

Vanda Pharmaceuticals, Inc.(b)

    426,339        5,759,840  

Veracyte, Inc.(b)

    222,233        5,095,803  

Vertex Pharmaceuticals, Inc.(b)

    61,576        12,036,876  

Voyager Therapeutics, Inc.(b)

    325,996        5,017,078  

Xencor, Inc.(b)

    160,775        5,500,113  
    

 

 

 
       218,761,313  
    

 

 

 
        Shares             Value      
Pharmaceuticals-2.64%    

Nektar Therapeutics(b)(c)

    346,277     $ 5,929,994  
   

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $222,168,573)

      224,691,307  
   

 

 

 
Money Market Funds-0.09%

 

 

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $213,641)

    213,641       213,641  
   

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.13%
(Cost $222,382,214)

      224,904,948  
   

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

 
Money Market Funds-1.68%

 

 

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    2,826,751       2,826,751  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    941,874       942,250  
   

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,769,001)

 

    3,769,001  
   

 

 

 

TOTAL INVESTMENTS IN SECURITIES-101.81%
(Cost $226,151,215)

 

    228,673,949  

OTHER ASSETS LESS LIABILITIES-(1.81)%

 

    (4,066,233
   

 

 

 

NET ASSETS-100.00%

    $ 224,607,716  
   

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

 

Biotechnology

    97.40  

Pharmaceuticals

    2.64  
Money Market Funds Plus Other Assets Less Liabilities     (0.04

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  3  

 


 

Invesco Dynamic Building & Construction ETF (PKB)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.04%

 

Building Products-18.17%     

American Woodmark Corp.(b)

    35,758      $ 3,545,763  

Armstrong World Industries, Inc.

    31,253        2,923,093  

Johnson Controls International PLC

    126,438        5,478,558  

Lennox International, Inc.

    21,383        5,289,299  

Universal Forest Products, Inc.

    75,035        3,778,763  
    

 

 

 
       21,015,476  
    

 

 

 
Construction & Engineering-15.36%     

Construction Partners, Inc.(b)

    181,878        3,113,751  

EMCOR Group, Inc.

    34,350        3,012,839  

Great Lakes Dredge & Dock Corp.(b)

    273,682        2,942,082  

Jacobs Engineering Group, Inc.

    61,383        5,744,221  

MasTec, Inc.(b)

    46,843        2,948,298  
    

 

 

 
       17,761,191  
    

 

 

 
Construction Machinery & Heavy Trucks-3.11%

 

  

Oshkosh Corp.

    42,129        3,596,974  
    

 

 

 
Construction Materials-4.82%     

Martin Marietta Materials, Inc.

    21,277        5,572,659  
    

 

 

 
Environmental & Facilities Services-2.75%

 

  

Tetra Tech, Inc.

    36,419        3,185,570  
    

 

 

 
Homebuilding-42.72%     

Cavco Industries, Inc.(b)

    16,361        3,135,586  

D.R. Horton, Inc.

    109,373        5,727,864  

Installed Building Products, Inc.(b)

    51,923        3,386,418  

LGI Homes, Inc.(b)

    36,743        2,883,591  

M.D.C. Holdings, Inc.

    78,761        3,048,838  

M/I Homes, Inc.(b)

    80,885        3,573,499  

Meritage Homes Corp.(b)

    45,305        3,266,037  
        Shares              Value      
Homebuilding-(continued)     

NVR, Inc.(b)

    1,484      $ 5,396,700  

PulteGroup, Inc.

    160,000        6,278,400  

Skyline Champion Corp.(b)

    106,305        3,000,990  

Taylor Morrison Home Corp.,
Class A(b)

    124,973        3,130,574  

Toll Brothers, Inc.

    81,355        3,235,488  

TopBuild Corp.(b)

    32,120        3,338,232  
    

 

 

 
       49,402,217  
    

 

 

 
Industrial Conglomerates-2.73%     

Carlisle Cos., Inc.

    20,757        3,160,668  
    

 

 

 
Industrial Machinery-7.97%     

Ingersoll-Rand PLC

    44,840        5,689,748  

SPX Corp.(b)

    77,412        3,525,342  
    

 

 

 
       9,215,090  
    

 

 

 
Specialized Consumer Services-2.41%     

frontdoor, Inc.(b)

    57,737        2,784,656  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $98,979,039)

 

     115,694,501  
    

 

 

 
Money Market Funds-0.16%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(c)
(Cost $183,215)

    183,215        183,215  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-100.20%
(Cost $99,162,254)

 

     115,877,716  

OTHER ASSETS LESS LIABILITIES-(0.20)%

 

     (226,124
    

 

 

 

NET ASSETS-100.00%

 

   $ 115,651,592  
    

 

 

 

 

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) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

 

Homebuilding

    42.72  

Building Products

    18.17  

Construction & Engineering

    15.36  

Industrial Machinery

    7.97  

Construction Materials

    4.82  

Construction Machinery & Heavy Trucks

    3.11  

Sub-Industry Types Each Less Than 3%

    7.89  
Money Market Funds Plus Other Assets Less Liabilities     (0.04

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  4  

 


 

Invesco Dynamic Energy Exploration & Production ETF (PXE)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.97%

 

Oil & Gas Exploration & Production-71.17%

 

Berry Petroleum Corp.

    84,986      $ 798,019  

Cabot Oil & Gas Corp.

    40,682        758,313  

Callon Petroleum Co.(b)(c)

    160,168        608,638  

Comstock Resources, Inc.(b)(c)

    121,941        834,077  

ConocoPhillips

    24,558        1,355,602  

Devon Energy Corp.

    56,974        1,155,433  

EOG Resources, Inc.

    17,244        1,195,182  

EQT Corp.

    64,947        697,531  

Geopark Ltd. (Colombia)(b)(c)

    40,714        742,623  

Kosmos Energy Ltd. (Ghana)

    109,318        677,772  

Marathon Oil Corp.

    105,263        1,213,682  

Matador Resources Co.(b)

    44,044        612,652  

Murphy Oil Corp.

    37,764        779,071  

Noble Energy, Inc.

    56,376        1,085,802  

Northern Oil and Gas, Inc.(b)

    361,768        709,065  

Parsley Energy, Inc., Class A

    38,903        615,056  

PDC Energy, Inc.(b)

    21,775        434,411  

Pioneer Natural Resources Co.

    10,409        1,280,515  

SM Energy Co.

    69,903        548,040  

Southwestern Energy Co.(b)

    401,446        822,964  

SRC Energy, Inc.(b)

    137,075        427,674  

Talos Energy, Inc.(b)

    35,380        761,731  

WPX Energy, Inc.(b)

    64,448        643,191  
    

 

 

 
       18,757,044  
    

 

 

 
Oil & Gas Refining & Marketing-28.80%

 

  

CVR Energy, Inc.

    17,949        851,142  

Delek US Holdings, Inc.

    21,555        861,122  

HollyFrontier Corp.

    15,693        862,173  

Marathon Petroleum Corp.

    26,441        1,690,902  

Par Pacific Holdings, Inc.(b)

    32,003        724,868  

PBF Energy, Inc., Class A

    29,244        943,996  

Valero Energy Corp.

    17,064        1,654,867  
    

 

 

 
       7,589,070  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $31,471,568)

 

     26,346,114  
    

 

 

 
        Shares              Value      
Money Market Funds-0.27%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $71,689)

    71,689      $ 71,689  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.24%
(Cost $31,543,257)

 

     26,417,803  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-2.38%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    435,591        435,591  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    190,048        190,124  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $625,715)

 

     625,715  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-102.62%
(Cost $32,168,972)

 

     27,043,518  

OTHER ASSETS LESS LIABILITIES-(2.62)%

 

     (690,315
    

 

 

 

NET ASSETS-100.00%

 

   $ 26,353,203  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  5  

 


 

Invesco Dynamic Energy Exploration & Production ETF (PXE)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Oil & Gas Exploration & Production

    71.17  

Oil & Gas Refining & Marketing

    28.80  
Money Market Funds Plus Other Assets Less Liabilities     0.03  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  6  

 


 

Invesco Dynamic Food & Beverage ETF (PBJ)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.97%

 

Agricultural Products-2.92%     

Bunge Ltd.

    38,445      $ 2,076,030  
    

 

 

 
Brewers-2.45%     

Boston Beer Co., Inc. (The), Class A(b)

    4,636        1,735,997  
    

 

 

 
Distributors-2.66%     

Core-Mark Holding Co., Inc.

    61,751        1,884,640  
    

 

 

 
Fertilizers & Agricultural Chemicals-2.53%

 

Corteva, Inc.

    68,091        1,796,241  
    

 

 

 
Food Distributors-5.39%     

Performance Food Group Co.(b)

    43,263        1,843,436  

US Foods Holding Corp.(b)

    50,074        1,986,436  
    

 

 

 
       3,829,872  
    

 

 

 
Food Retail-2.91%     

Ingles Markets, Inc., Class A

    52,341        2,063,806  
    

 

 

 
Packaged Foods & Meats-38.49%

 

Campbell Soup Co.

    46,709        2,163,094  

Flowers Foods, Inc.

    88,883        1,930,539  

Hershey Co. (The)

    23,475        3,447,773  

J&J Snack Foods Corp.

    10,579        2,018,050  

John B. Sanfilippo & Son, Inc.

    21,828        2,316,387  

Mondelez International, Inc., Class A

    67,091        3,518,923  

Pilgrim’s Pride Corp.(b)

    66,371        2,015,024  

Sanderson Farms, Inc.

    13,695        2,120,123  

Seaboard Corp.

    490        2,067,354  

Simply Good Foods Co. (The)(b)

    67,388        1,653,701  

Tootsie Roll Industries, Inc.(c)

    55,018        1,886,017  

TreeHouse Foods, Inc.(b)

    40,745        2,201,045  
    

 

 

 
       27,338,030  
    

 

 

 
Restaurants-21.82%     

Chipotle Mexican Grill, Inc.(b)

    2,398        1,866,028  

Jack in the Box, Inc.

    23,842        2,003,205  

McDonald’s Corp.

    16,816        3,307,707  

Starbucks Corp.

    37,961        3,209,982  

Yum China Holdings, Inc. (China)

    44,628        1,896,690  

Yum! Brands, Inc.

    31,616        3,215,663  
    

 

 

 
       15,499,275  
    

 

 

 
        Shares              Value      
Soft Drinks-20.80%     

Coca-Cola Co. (The)

    67,372      $ 3,667,058  

Coca-Cola Consolidated, Inc.

    5,837        1,601,439  

Coca-Cola European Partners PLC (United Kingdom)

    36,098        1,931,604  

Keurig Dr Pepper, Inc.(c)

    136,154        3,834,097  

PepsiCo, Inc.

    27,266        3,740,077  
    

 

 

 
       14,774,275  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $65,812,052)

 

     70,998,166  
    

 

 

 
Money Market Funds-0.26%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $180,359)

    180,359        180,359  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.23%
(Cost $65,992,411)

 

     71,178,525  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-3.92%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    2,089,519        2,089,519  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    696,228        696,506  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $2,786,025)

 

     2,786,025  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-104.15%
(Cost $68,778,436)

 

     73,964,550  

OTHER ASSETS LESS LIABILITIES-(4.15)%

 

     (2,943,859
    

 

 

 

NET ASSETS-100.00%

 

   $ 71,020,691  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  7  

 


 

Invesco Dynamic Food & Beverage ETF (PBJ)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition
Sub-Industry Breakdown (% of the Fund’s Net Assets)
as of October 31, 2019

Packaged Foods & Meats

    38.49  

Restaurants

    21.82  

Soft Drinks

    20.80  

Food Distributors

    5.39  

Sub-Industry Types Each Less Than 3%

    13.47  
Money Market Funds Plus Other Assets Less Liabilities     0.03  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  8  

 


 

Invesco Dynamic Leisure and Entertainment ETF (PEJ)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.94%

 

Airlines-22.53%

 

  

Allegiant Travel Co.

    10,457      $ 1,749,770  

Copa Holdings S.A., Class A (Panama)

    14,482        1,473,399  

Delta Air Lines, Inc.

    46,864        2,581,269  

JetBlue Airways Corp.(b)

    85,278        1,645,865  

SkyWest, Inc.

    25,903        1,542,524  

United Airlines Holdings, Inc.(b)

    32,029        2,909,514  
    

 

 

 
       11,902,341  
    

 

 

 
Broadcasting-5.47%

 

  

Central European Media Enterprises Ltd., Class A (Czech Republic)(b)

    323,049        1,448,875  

Discovery, Inc., Class A(b)(c)

    53,357        1,438,238  
    

 

 

 
       2,887,113  
    

 

 

 
Casinos & Gaming-3.08%

 

  

Everi Holdings, Inc.(b)

    161,525        1,624,941  
    

 

 

 
Food Distributors-5.30%

 

  

Performance Food Group Co.(b)

    31,641        1,348,223  

US Foods Holding Corp.(b)

    36,623        1,452,834  
    

 

 

 
       2,801,057  
    

 

 

 
Hotels, Resorts & Cruise Lines-10.90%

 

  

Choice Hotels International, Inc.

    16,258        1,438,508  

Hyatt Hotels Corp., Class A

    20,518        1,533,516  

Lindblad Expeditions Holdings,
Inc.(b)

    77,872        1,225,705  

Wyndham Destinations, Inc.

    33,559        1,557,473  
    

 

 

 
       5,755,202  
    

 

 

 
Internet & Direct Marketing Retail-5.38%

 

  

Booking Holdings, Inc.(b)

    1,387        2,841,644  
    

 

 

 
Leisure Facilities-5.05%

 

  

Planet Fitness, Inc., Class A(b)

    20,473        1,303,311  

SeaWorld Entertainment, Inc.(b)(c)

    51,607        1,363,457  
    

 

 

 
       2,666,768  
    

 

 

 
Movies & Entertainment-2.87%

 

  

Live Nation Entertainment, Inc.(b)

    21,487        1,514,833  
    

 

 

 
Restaurants-39.36%

 

  

Brinker International, Inc.(c)

    38,420        1,707,769  

Chipotle Mexican Grill, Inc.(b)

    3,214        2,501,006  
        Shares              Value      
Restaurants-(continued)

 

  

Cracker Barrel Old Country Store,
Inc.(c)

    9,047      $ 1,406,809  

Darden Restaurants, Inc.

    12,143        1,363,295  

Denny’s Corp.(b)

    62,987        1,267,298  

Jack in the Box, Inc.

    17,437        1,465,057  

McDonald’s Corp.

    12,300        2,419,410  

Starbucks Corp.

    27,763        2,347,639  

Wendy’s Co. (The)

    66,828        1,415,417  

Yum China Holdings, Inc. (China)

    59,839        2,543,158  

Yum! Brands, Inc.

    23,123        2,351,840  
    

 

 

 
       20,788,698  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $50,048,060)

 

     52,782,597  
    

 

 

 
Money Market Funds-0.26%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $139,031)

    139,031        139,031  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.20%
(Cost $50,187,091)

 

     52,921,628  
    

 

 

 
Investments Purchased with Cash Collateral
from Securities on Loan

 

Money Market Funds-6.71%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    2,655,463        2,655,463  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    884,800        885,154  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,540,617)

 

     3,540,617  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-106.91%
(Cost $53,727,708)

 

     56,462,245  

OTHER ASSETS LESS LIABILITIES-(6.91)%

 

     (3,648,908
    

 

 

 

NET ASSETS-100.00%

 

   $ 52,813,337  
    

 

 

 

 

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 October 31, 2019.

(d)

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e)

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  9  

 


 

Invesco Dynamic Leisure and Entertainment ETF (PEJ)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Restaurants

    39.36  

Airlines

    22.53  

Hotels, Resorts & Cruise Lines

    10.90  

Broadcasting

    5.47  

Internet & Direct Marketing Retail

    5.38  

Food Distributors

    5.30  

Leisure Facilities

    5.05  

Casinos & Gaming

    3.08  

Movies & Entertainment

    2.87  
Money Market Funds Plus Other Assets
Less Liabilities
    0.06  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  10  

 


 

Invesco Dynamic Media ETF (PBS)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.02%

 

Advertising-11.70%     

Cardlytics, Inc.(b)

    36,358      $ 1,523,764  

Interpublic Group of Cos., Inc. (The)

    67,719        1,472,888  

Omnicom Group, Inc.

    17,925        1,383,631  

TechTarget, Inc.(b)

    56,621        1,381,552  
    

 

 

 
       5,761,835  
    

 

 

 
Application Software-3.11%     

j2 Global, Inc.

    16,136        1,532,275  
    

 

 

 
Broadcasting-22.05%     

AMC Networks, Inc., Class A(b)

    27,845        1,212,650  

Central European Media Enterprises Ltd., Class A (Czech Republic)(b)

    295,710        1,326,259  

Discovery, Inc., Class A(b)(c)

    48,841        1,316,509  

E.W. Scripps Co. (The), Class A

    109,223        1,467,411  

Gray Television, Inc.(b)

    90,654        1,487,632  

Nexstar Media Group, Inc., Class A

    14,406        1,401,560  

Sinclair Broadcast Group, Inc., Class A

    30,608        1,219,423  

TEGNA, Inc.

    95,109        1,429,488  
    

 

 

 
       10,860,932  
    

 

 

 
Cable & Satellite-5.46%     

Sirius XM Holdings, Inc.(c)

    399,835        2,686,891  
    

 

 

 
Diversified Support Services-2.60%     

Viad Corp.

    20,984        1,280,444  
    

 

 

 
Human Resource & Employment Services-2.87%

 

Upwork, Inc.(b)

    94,118        1,415,535  
    

 

 

 
Interactive Media & Services-26.15%

 

Alphabet, Inc., Class A(b)

    2,079        2,617,045  

Facebook, Inc., Class A(b)

    13,379        2,564,085  

IAC/InterActiveCorp.(b)

    5,326        1,210,334  

Match Group, Inc.

    29,006        2,117,148  

Twitter, Inc.(b)

    58,437        1,751,357  

Yandex N.V., Class A (Russia)(b)

    36,744        1,226,882  

Yelp, Inc.(b)

    40,369        1,393,134  
    

 

 

 
       12,879,985  
    

 

 

 
Movies & Entertainment-7.69%     

Spotify Technology S.A.(b)

    18,212        2,627,992  

Viacom, Inc., Class B

    53,831        1,160,596  
    

 

 

 
       3,788,588  
    

 

 

 
        Shares              Value      
Publishing-5.23%     

Gannett Co., Inc.

    129,726      $ 1,407,527  

Meredith Corp.

    31,019        1,169,416  
    

 

 

 
       2,576,943  
    

 

 

 
Research & Consulting Services-9.89%

 

CoStar Group, Inc.(b)

    4,045        2,222,808  

IHS Markit Ltd.(b)

    37,838        2,649,417  
    

 

 

 
       4,872,225  
    

 

 

 
Thrifts & Mortgage Finance-3.27%     

LendingTree, Inc.(b)(c)

    4,472        1,609,249  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $49,051,793)

 

     49,264,902  
    

 

 

 
Money Market Funds-0.22%     

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $107,953)

    107,952        107,953  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.24%
(Cost $49,159,746)

 

     49,372,855  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-10.02%     

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    3,700,183        3,700,183  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    1,232,901        1,233,394  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $4,933,511)

 

     4,933,577  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-110.26%
(Cost $54,093,257)

 

     54,306,432  

OTHER ASSETS LESS LIABILITIES-(10.26)%

 

     (5,052,068
    

 

 

 

NET ASSETS-100.00%

 

   $ 49,254,364  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  11  

 


 

Invesco Dynamic Media ETF (PBS)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Interactive Media & Services

    26.15  

Broadcasting

    22.05  

Advertising

    11.70  

Research & Consulting Services

    9.89  

Movies & Entertainment

    7.69  

Cable & Satellite

    5.46  

Publishing

    5.23  

Thrifts & Mortgage Finance

    3.27  

Application Software

    3.11  

Sub-Industry Types Each Less Than 3%

    5.47  
Money Market Funds Plus Other Assets Less Liabilities     (0.02

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  12  

 


 

Invesco Dynamic Networking ETF (PXQ)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.00%

 

Application Software-2.63%     

Mimecast Ltd.(b)

    42,077      $ 1,670,878  
    

 

 

 
Communications Equipment-31.65%

 

  

Arista Networks, Inc.(b)

    13,786        3,371,642  

Ciena Corp.(b)

    41,434        1,538,030  

Cisco Systems, Inc.

    66,321        3,150,911  

Comtech Telecommunications Corp.

    64,117        2,240,889  

Extreme Networks, Inc.(b)

    254,463        1,638,742  

InterDigital, Inc.

    35,077        1,881,179  

Motorola Solutions, Inc.

    17,305        2,878,168  

NetScout Systems, Inc.(b)

    77,026        1,865,570  

Radware Ltd. (Israel)(b)

    69,343        1,564,378  
    

 

 

 
       20,129,509  
    

 

 

 
Consumer Electronics-3.11%     

Garmin Ltd.

    21,132        1,981,125  
    

 

 

 
Electronic Components-8.66%     

Amphenol Corp., Class A

    35,779        3,589,707  

Belden, Inc.

    37,369        1,916,282  
    

 

 

 
       5,505,989  
    

 

 

 
Internet Services & Infrastructure-4.91%

 

  

Akamai Technologies, Inc.(b)

    19,132        1,654,918  

Okta, Inc.(b)

    13,445        1,466,446  
    

 

 

 
       3,121,364  
    

 

 

 
Semiconductors-11.16%     

Inphi Corp.(b)

    28,028        2,014,653  

Mellanox Technologies Ltd.(b)

    15,852        1,786,520  

QUALCOMM, Inc.

    41,007        3,298,603  
    

 

 

 
       7,099,776  
    

 

 

 
Systems Software-32.01%     

Check Point Software Technologies Ltd. (Israel)(b)

    15,913        1,788,780  

CyberArk Software Ltd.(b)

    15,032        1,526,951  

Fortinet, Inc.(b)

    21,931        1,788,692  

Palo Alto Networks, Inc.(b)

    15,663        3,561,610  

Proofpoint, Inc.(b)

    15,161        1,749,125  
        Shares              Value      
Systems Software-(continued)     

Qualys, Inc.(b)

    21,135      $ 1,803,449  

SecureWorks Corp., Class A(b)

    142,499        1,732,788  

Symantec Corp.

    73,675        1,685,684  

VMware, Inc., Class A

    23,097        3,655,562  

Zscaler, Inc.(b)(c)

    24,252        1,066,603  
    

 

 

 
       20,359,244  
    

 

 

 
Technology Hardware, Storage & Peripherals-5.87%

 

  

Apple, Inc.

    14,999        3,731,151  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $58,719,093)

 

     63,599,036  
    

 

 

 
Money Market Funds-0.21%     

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $131,033)

    131,033        131,033  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.21%
(Cost $58,850,126)

 

     63,730,069  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-1.59%     

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    757,111        757,111  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    252,269        252,370  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $1,009,459)

 

     1,009,481  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-101.80%
(Cost $59,859,585)

 

     64,739,550  

OTHER ASSETS LESS LIABILITIES-(1.80)%

 

     (1,143,056
    

 

 

 

NET ASSETS-100.00%

 

   $ 63,596,494  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e)

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  13  

 


 

Invesco Dynamic Networking ETF (PXQ)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Systems Software

    32.01  

Communications Equipment

    31.65  

Semiconductors

    11.16  

Electronic Components

    8.66  

Technology Hardware, Storage & Peripherals

    5.87  

Internet Services & Infrastructure

    4.91  

Consumer Electronics

    3.11  

Application Software

    2.63  
Money Market Funds Plus Other Assets Less Liabilities     (0.00

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  14  

 


 

Invesco Dynamic Oil & Gas Services ETF (PXJ)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.92%

 

Oil & Gas Drilling-17.67%     

Diamond Offshore Drilling, Inc.(b)(c)

    46,329      $ 245,080  

Helmerich & Payne, Inc.

    14,873        557,738  

Patterson-UTI Energy, Inc.

    34,011        282,972  

Transocean Ltd.(b)

    120,966        574,588  

Valaris PLC(c)

    63,862        262,473  
    

 

 

 
       1,922,851  
    

 

 

 
Oil & Gas Equipment & Services-66.60%     

Apergy Corp.(b)

    21,221        534,133  

Archrock, Inc.

    30,754        296,469  

Baker Hughes Co.

    25,316        541,762  

Cactus, Inc., Class A(b)

    11,875        352,925  

Core Laboratories N.V.

    7,512        330,828  

Dril-Quip, Inc.(b)

    6,419        263,307  

Frank’s International N.V.(b)

    69,190        339,031  

Halliburton Co.

    29,897        575,517  

Helix Energy Solutions Group, Inc.(b)

    41,442        355,987  

Liberty Oilfield Services, Inc.,
Class A(c)

    28,087        258,681  

McDermott International, Inc.(b)

    64,178        104,610  

National Energy Services Reunited
Corp.(b)(c)

    38,905        268,834  

National Oilwell Varco, Inc.

    27,559        623,385  

Oceaneering International, Inc.(b)

    22,912        324,434  

Oil States International, Inc.(b)

    21,540        307,376  

ProPetro Holding Corp.(b)

    28,326        219,526  

RPC, Inc.(c)

    55,714        230,656  

Schlumberger Ltd.

    17,172        561,353  

TechnipFMC PLC (United Kingdom)

    22,434        442,623  

USA Compression Partners L.P.(c)

    17,806        314,632  
    

 

 

 
       7,246,069  
    

 

 

 
Oil & Gas Storage & Transportation-15.65%

 

DHT Holdings, Inc.

    53,068        410,216  

Frontline Ltd. (Norway)(b)

    34,751        362,105  

Golar LNG Partners L.P. (United Kingdom)

    30,280        308,250  
        Shares              Value      
Oil & Gas Storage & Transportation-(continued)

 

Rattler Midstream L.P.(b)

    16,719      $ 251,119  

Scorpio Tankers, Inc. (Monaco)

    11,680        371,541  
    

 

 

 
       1,703,231  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $17,620,450)

 

     10,872,151  
  

 

 

 
Money Market Funds-1.00%

 

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $109,319)

    109,319        109,319  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.92%
(Cost $17,729,769)

 

     10,981,470  
  

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-12.03%

 

Invesco Government & Agency Portfolio, Institutional Class, 1.71%(d)(e)

    981,618        981,618  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    327,075        327,206  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $1,308,795)

 

     1,308,824  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-112.95%
(Cost $19,038,564)

 

     12,290,294  

OTHER ASSETS LESS LIABILITIES-(12.95)%

 

     (1,409,555
  

 

 

 

NET ASSETS-100.00%

 

   $ 10,880,739  
  

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  15  

 


 

Invesco Dynamic Oil & Gas Services ETF (PXJ)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Oil & Gas Equipment & Services

    66.60  

Oil & Gas Drilling

    17.67  

Oil & Gas Storage & Transportation

    15.65  
Money Market Funds Plus Other Assets
Less Liabilities
    0.08  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  16  

 


 

Invesco Dynamic Pharmaceuticals ETF (PJP)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.94%

 

Biotechnology-40.07%     

AbbVie, Inc.

    254,675      $ 20,259,396  

Alexion Pharmaceuticals, Inc.(b)

    82,011        8,643,959  

Amgen, Inc.

    81,480        17,375,610  

Biogen, Inc.(b)

    41,783        12,481,000  

Celgene Corp.(b)

    94,729        10,233,574  

Eagle Pharmaceuticals, Inc.(b)

    163,447        10,248,127  

Enanta Pharmaceuticals, Inc.(b)

    128,979        7,852,242  

Gilead Sciences, Inc.

    264,540        16,853,843  

Medicines Co. (The)(b)(c)

    213,976        11,231,600  

Regeneron Pharmaceuticals, Inc.(b)

    31,657        9,695,906  

United Therapeutics Corp.(b)

    111,187        9,989,040  

Vanda Pharmaceuticals, Inc.(b)

    652,395        8,813,857  
    

 

 

 
       143,678,154  
    

 

 

 
Health Care Equipment-4.63%     

Abbott Laboratories

    198,825        16,623,758  
    

 

 

 
Pharmaceuticals-55.24%     

Allergan PLC

    57,616        10,146,754  

Amphastar Pharmaceuticals, Inc.(b)

    418,130        8,076,181  

ANI Pharmaceuticals, Inc.(b)

    139,291        10,880,020  

Bausch Health Cos., Inc.(b)

    427,650        10,622,826  

Bristol-Myers Squibb Co.

    190,569        10,932,943  

Corcept Therapeutics, Inc.(b)

    740,645        10,806,011  

Eli Lilly and Co.

    150,240        17,119,848  

Horizon Therapeutics PLC(b)

    333,897        9,652,962  

Innoviva, Inc.(b)

    809,753        9,409,330  

Jazz Pharmaceuticals PLC(b)

    71,989        9,043,978  

Johnson & Johnson

    131,507        17,364,184  

Merck & Co., Inc.

    194,468        16,852,597  

Mylan N.V.(b)

    462,252        8,852,126  

Perrigo Co. PLC

    196,095        10,396,957  

Pfizer, Inc.

    477,339        18,315,497  
        Shares              Value      
Pharmaceuticals-(continued)     

Prestige Consumer Healthcare Inc.(b)

    290,094      $ 10,286,733  

Taro Pharmaceutical Industries Ltd.

    115,201        9,312,849  
    

 

 

 
       198,071,796  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $324,577,033)

 

     358,373,708  
    

 

 

 
Money Market Funds-0.07%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $235,451)

    235,451        235,451  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.01%
(Cost $324,812,484)

 

     358,609,159  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-0.57%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    1,531,022        1,531,022  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    510,137        510,341  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $2,041,314)

 

     2,041,363  
  

 

 

 

TOTAL INVESTMENTS IN SECURITIES-100.58%
(Cost $326,853,798)

 

     360,650,522  

OTHER ASSETS LESS LIABILITIES-(0.58)%

 

     (2,080,600
  

 

 

 

NET ASSETS-100.00%

 

   $ 358,569,922  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

Portfolio Composition  
Sub-Industry Breakdown (% of the Fund’s Net Assets)
as of October 31, 2019

 

Pharmaceuticals

    55.24  

Biotechnology

    40.07  

Health Care Equipment

    4.63  
Money Market Funds Plus Other Assets Less Liabilities     0.06  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  17  

 


 

Invesco Dynamic Retail ETF (PMR)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.02%

 

Apparel Retail-2.52%     

Boot Barn Holdings, Inc.(b)

    5,817      $ 203,886  
    

 

 

 
Apparel, Accessories & Luxury Goods-5.10%

 

lululemon athletica, Inc.(b)

    2,022        413,034  
    

 

 

 
Automotive Retail-22.47%     

Asbury Automotive Group, Inc.(b)

    2,199        226,783  

AutoNation, Inc.(b)

    4,352        221,299  

AutoZone, Inc.(b)

    338        386,801  

CarMax, Inc.(b)

    2,479        230,968  

Group 1 Automotive, Inc.

    2,709        269,383  

Lithia Motors, Inc., Class A

    1,559        245,511  

Sonic Automotive, Inc., Class A

    7,489        241,371  
    

 

 

 
       1,822,116  
    

 

 

 
Computer & Electronics Retail-5.30%     

Best Buy Co., Inc.

    3,232        232,154  

Rent-A-Center, Inc.

    7,649        197,880  
    

 

 

 
       430,034  
    

 

 

 
Diversified Support Services-2.76%     

Copart, Inc.(b)

    2,709        223,872  
    

 

 

 
Food Retail-7.02%     

Grocery Outlet Holding Corp.(b)

    4,907        156,533  

Ingles Markets, Inc., Class A

    5,309        209,334  

Weis Markets, Inc.

    5,282        203,304  
    

 

 

 
       569,171  
    

 

 

 
General Merchandise Stores-9.36%     

Dollar General Corp.

    2,410        386,420  

Target Corp.

    3,486        372,688  
    

 

 

 
       759,108  
    

 

 

 
Home Improvement Retail-7.19%     

Floor & Decor Holdings, Inc.,
Class A(b)

    4,250        194,777  

Home Depot, Inc. (The)

    1,655        388,230  
    

 

 

 
       583,007  
    

 

 

 
Homefurnishing Retail-9.81%     

Aaron’s, Inc.

    3,167        237,303  

Bed Bath & Beyond, Inc.(c)

    21,647        296,564  

RH(b)(c)

    1,437        261,103  
    

 

 

 
       794,970  
    

 

 

 
Hypermarkets & Super Centers-9.42%     

Costco Wholesale Corp.

    1,269        377,033  

Walmart, Inc.

    3,298        386,723  
    

 

 

 
       763,756  
    

 

 

 
        Shares              Value      
Internet & Direct Marketing Retail-9.25%

 

1-800-Flowers.com, Inc., Class A(b)

    13,563      $ 193,408  

eBay, Inc.

    9,283        327,226  

Groupon, Inc.(b)

    82,414        229,111  
    

 

 

 
       749,745  
    

 

 

 
Specialty Stores-6.73%     

Dick’s Sporting Goods, Inc.

    5,921        230,505  

Office Depot, Inc.

    153,142        315,472  
    

 

 

 
       545,977  
    

 

 

 
Trading Companies & Distributors-3.09%

 

Rush Enterprises, Inc., Class A

    5,742        250,868  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $6,843,601)

 

     8,109,544  
    

 

 

 
Money Market Funds-1.14%

 

  

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $92,156)

    92,156        92,156  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-101.16%
(Cost $6,935,757)

       8,201,700  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-6.49%

 

  

Invesco Government & Agency Portfolio,
Institutional Class, 1.71%(d)(e)

    394,812        394,812  

Invesco Liquid Assets Portfolio,
Institutional Class, 1.90%(d)(e)

    131,551        131,604  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $526,404)

 

     526,416  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.65%
(Cost $7,462,161)

 

     8,728,116  

OTHER ASSETS LESS LIABILITIES-(7.65)%

 

     (620,118
    

 

 

 

NET ASSETS-100.00%

 

   $ 8,107,998  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  18  

 


 

Invesco Dynamic Retail ETF (PMR)–(continued)

October 31, 2019

(Unaudited)

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

 

Automotive Retail

    22.47  

Homefurnishing Retail

    9.81  

Hypermarkets & Super Centers

    9.42  

General Merchandise Stores

    9.36  

Internet & Direct Marketing Retail

    9.25  

Home Improvement Retail

    7.19  

Food Retail

    7.02  

Specialty Stores

    6.73  

Computer & Electronics Retail

    5.30  

Apparel, Accessories & Luxury Goods

    5.10  

Trading Companies & Distributors

    3.09  

Sub-Industry Types Each Less Than 3%

    5.28  

Money Market Funds Plus Other Assets

Less Liabilities

    (0.02

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  19  

 


 

Invesco Dynamic Semiconductors ETF (PSI)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-100.00%

 

Electronic Manufacturing Services-2.42%

 

TE Connectivity Ltd.

    51,386      $ 4,599,047  
    

 

 

 
Semiconductor Equipment-26.54%

 

Amkor Technology, Inc.(b)

    533,804        6,635,184  

Applied Materials, Inc.

    182,862        9,922,092  

Entegris, Inc.

    110,021        5,281,008  

FormFactor, Inc.(b)

    277,415        6,055,969  

KLA Corp.

    32,239        5,449,681  

Lam Research Corp.

    22,724        6,159,113  

Photronics, Inc.(b)

    458,584        5,411,291  

Teradyne, Inc.

    89,626        5,486,904  
    

 

 

 
       50,401,242  
    

 

 

 
Semiconductors-71.04%     

Ambarella, Inc.(b)

    99,616        5,242,790  

Analog Devices, Inc.

    79,354        8,461,517  

Broadcom, Inc.

    30,530        8,940,711  

CEVA, Inc.(b)

    153,959        4,190,764  

Cirrus Logic, Inc.(b)

    88,766        6,032,537  

Cypress Semiconductor Corp.

    205,524        4,782,543  

Diodes, Inc.(b)

    128,789        6,008,007  

Impinj, Inc.(b)(c)

    127,950        4,208,915  

Inphi Corp.(b)

    77,344        5,559,487  

Intel Corp.

    184,578        10,434,194  

Lattice Semiconductor Corp.(b)

    237,246        4,647,649  

Maxim Integrated Products, Inc.

    87,483        5,131,753  

Micron Technology, Inc.(b)

    193,669        9,208,961  

NVIDIA Corp.

    51,803        10,413,439  

NXP Semiconductors N.V. (Netherlands)

    46,464        5,282,028  

Power Integrations, Inc.

    53,441        4,869,010  

QUALCOMM, Inc.

    113,162        9,102,751  

Rambus, Inc.(b)

    387,106        5,359,483  

Silicon Laboratories, Inc.(b)

    43,288        4,598,917  
        Shares              Value      
Semiconductors-(continued)     

Texas Instruments, Inc.

    70,011      $ 8,260,598  

Xilinx, Inc.

    45,614        4,139,014  
    

 

 

 
       134,875,068  
    

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $155,084,718)

 

     189,875,357  
    

 

 

 
Money Market Funds-0.11%

 

Invesco Premier U.S. Government Money Portfolio, Institutional Class, 1.67%(d)
(Cost $205,222)

    205,222        205,222  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.11%
(Cost $155,289,940)

 

     190,080,579  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-2.05%     

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    2,914,836        2,914,836  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    971,224        971,612  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,886,448)

 

     3,886,448  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-102.16%
(Cost $159,176,388)

 

     193,967,027  

OTHER ASSETS LESS LIABILITIES-(2.16)%

 

     (4,097,059
    

 

 

 

NET ASSETS-100.00%

 

   $ 189,869,968  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

 

Semiconductors

    71.04  

Semiconductor Equipment

    26.54  

Electronic Manufacturing Services

    2.42  

Money Market Funds Plus Other Assets

Less Liabilities

    (0.00

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  20  

 


 

Invesco Dynamic Software ETF (PSJ)

October 31, 2019

(Unaudited)

 

Schedule of Investments(a)

 

        Shares              Value      
Common Stocks & Other Equity Interests-99.99%

 

Application Software-51.06%

 

  

Altair Engineering, Inc., Class A(b)(c)

    394,415      $ 14,542,081  

Alteryx, Inc., Class A(b)

    92,132        8,430,078  

AppFolio, Inc., Class A(b)

    130,003        12,640,192  

Cadence Design Systems, Inc.(b)

    352,328        23,024,635  

Ceridian HCM Holding, Inc.(b)

    227,476        10,975,717  

Fair Isaac Corp.(b)

    37,450        11,386,298  

Manhattan Associates, Inc.(b)

    158,606        11,887,520  

MicroStrategy, Inc., Class A(b)

    93,813        14,376,842  

Model N, Inc.(b)

    470,195        14,007,109  

Paycom Software, Inc.(b)

    52,200        11,041,866  

RingCentral, Inc., Class A(b)

    93,017        15,024,106  

Sapiens International Corp. N.V. (Israel)

    707,801        14,955,835  

SPS Commerce, Inc.(b)

    263,022        13,879,671  

Synopsys, Inc.(b)

    172,087        23,360,810  

Trade Desk, Inc. (The), Class A(b)

    53,043        10,651,034  

Workiva, Inc.(b)

    279,599        11,650,890  

Zoom Video Communications, Inc., Class A(b)(c)

    267,610        18,703,263  
    

 

 

 
       240,537,947  
    

 

 

 
Communications Equipment-3.10%

 

  

InterDigital, Inc.

    272,086        14,591,972  
    

 

 

 
Data Processing & Outsourced Services-3.06%

 

  

CSG Systems International, Inc.

    249,938        14,406,426  
    

 

 

 
Health Care Technology-7.06%

 

  

Inovalon Holdings, Inc., Class A(b)(c)

    820,296        12,821,227  

Veeva Systems, Inc., Class A(b)

    144,216        20,454,155  
    

 

 

 
       33,275,382  
    

 

 

 
Internet Services & Infrastructure-2.72%

 

  

Akamai Technologies, Inc.(b)

    148,402        12,836,773  
    

 

 

 
Semiconductor Equipment-3.14%

 

  

Xperi Corp.

    729,203        14,806,467  
    

 

 

 
        Shares              Value      
Systems Software-29.85%

 

  

CyberArk Software Ltd.(b)

    116,598      $ 11,844,025  

Microsoft Corp.

    176,061        25,241,866  

Oracle Corp.

    466,213        25,403,946  

Qualys, Inc.(b)

    163,938        13,988,830  

ServiceNow, Inc.(b)

    91,838        22,707,864  

Symantec Corp.

    571,486        13,075,600  

VMware, Inc., Class A(b)

    179,161        28,355,811  
    

 

 

 
       140,617,942  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.99%
(Cost $454,354,937)

 

     471,072,909  
    

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-1.76%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
1.71%(d)(e)

    6,233,239        6,233,239  

Invesco Liquid Assets Portfolio, Institutional Class, 1.90%(d)(e)

    2,076,916        2,077,746  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $8,310,967)

 

     8,310,985  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-101.75%
(Cost $462,665,904)

 

     479,383,894  

OTHER ASSETS LESS LIABILITIES-(1.75)%

 

     (8,249,296
    

 

 

 

NET ASSETS-100.00%

 

   $ 471,134,598  
    

 

 

 

 

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 October 31, 2019.

(d) 

The security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of October 31, 2019.

(e) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  21  

 


 

 

Invesco Dynamic Software ETF (PSJ)–(continued)

October 31, 2019

(Unaudited)

 

 

Portfolio Composition

Sub-Industry Breakdown (% of the Fund’s Net Assets)

as of October 31, 2019

Application Software

    51.06  

Systems Software

    29.85  

Health Care Technology

    7.06  

Semiconductor Equipment

    3.14  

Communications Equipment

    3.10  

Data Processing & Outsourced Services

    3.06  

Internet Services & Infrastructure

    2.72  
Money Market Funds Plus Other Assets Less Liabilities     0.01  

    

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  22  

 


 

 

 

 

 

(This Page Intentionally Left Blank)

 

 

 

 

 

  23  

 


 

Statements of Assets and Liabilities

October 31, 2019

(Unaudited)

 

 

    Invesco
Dynamic
Biotechnology &
Genome
ETF (PBE)
     Invesco
Dynamic Building &
Construction
ETF (PKB)
     Invesco
Dynamic Energy
Exploration &
Production
ETF (PXE)
     Invesco
Dynamic Food &
Beverage
ETF (PBJ)
 
Assets:           

Unaffiliated investments in securities, at value(a)

  $ 224,691,307      $ 115,694,501      $ 26,346,114      $ 70,998,166  

Affiliated investments in securities, at value

    3,982,642        183,215        697,404        2,966,384  

Cash

    -        -        -        124  

Receivable for:

          

Dividends

    394        10,537        13,903        1,686  

Securities lending

    890        23        22,446        522  

Investments sold

    -        -        -        -  

Expenses absorbed

    -        -        -        -  

Other assets

    1,026        1,105        1,182        1,179  
 

 

 

    

 

 

    

 

 

    

 

 

 

Total assets

    228,676,259        115,889,381        27,081,049        73,968,061  
 

 

 

    

 

 

    

 

 

    

 

 

 
Liabilities:           

Due to custodian

    -        -        -        -  

Payable for:

          

Collateral upon return of securities loaned

    3,769,001        -        625,715        2,786,025  

Fund shares repurchased

    -        -        -        -  

Accrued advisory fees

    90,868        46,926        6,126        28,831  

Accrued trustees’ and officer’s fees

    58,621        40,084        41,306        48,334  

Accrued expenses

    150,053        150,779        54,699        84,180  
 

 

 

    

 

 

    

 

 

    

 

 

 

Total liabilities

    4,068,543        237,789        727,846        2,947,370  
 

 

 

    

 

 

    

 

 

    

 

 

 
Net Assets   $ 224,607,716      $ 115,651,592      $ 26,353,203      $ 71,020,691  
 

 

 

    

 

 

    

 

 

    

 

 

 
Net assets consist of:           

Shares of beneficial interest

  $ 417,877,748      $ 162,961,246      $ 150,250,248      $ 142,150,024  

Distributable earnings (loss)

    (193,270,032      (47,309,654      (123,897,045      (71,129 ,333
 

 

 

    

 

 

    

 

 

    

 

 

 
Net Assets   $ 224,607,716      $ 115,651,592      $ 26,353,203      $ 71,020,691  
 

 

 

    

 

 

    

 

 

    

 

 

 

Shares outstanding (unlimited amount authorized, $0.01 par value)

    4,400,000        3,450,000        1,800,000        2,100,000  

Net asset value

  $ 51.05      $ 33.52      $ 14.64      $ 33.82  
 

 

 

    

 

 

    

 

 

    

 

 

 

Market price

  $ 51.03      $ 33.46      $ 14.62      $ 33.81  
 

 

 

    

 

 

    

 

 

    

 

 

 

Unaffiliated investments in securities, at cost

  $ 222,168,573      $ 98,979,039      $ 31,471,568      $ 65,812,052  
 

 

 

    

 

 

    

 

 

    

 

 

 

Affiliated investments in securities, at cost

  $ 3,982,642      $ 183,215      $ 697,404      $ 2,966,384  
 

 

 

    

 

 

    

 

 

    

 

 

 

(a)Includes securities on loan with an aggregate value of:

  $ 3,580,060      $ -      $ 591,506      $ 2,737,807  
 

 

 

    

 

 

    

 

 

    

 

 

 

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  24  

 


 

 

 

Invesco
Dynamic Leisure
and
Entertainment
ETF (PEJ)

     Invesco
Dynamic Media
ETF (PBS)
     Invesco
Dynamic
Networking
ETF (PXQ)
     Invesco
Dynamic Oil &
Gas Services
ETF (PXJ)
     Invesco
Dynamic
Pharmaceuticals

ETF (PJP)
     Invesco
Dynamic Retail
ETF (PMR)
     Invesco
Dynamic
Semiconductors
ETF (PSI)
     Invesco
Dynamic
Software
ETF (PSJ)
 
                    
$ 52,782,597      $ 49,264,902      $ 63,599,036      $ 10,872,151      $ 358,373,708      $ 8,109,544      $ 189,875,357      $ 471,072,909  
  3,679,648        5,041,530        1,140,514        1,418,143        2,276,814        618,572        4,091,670        8,310,985  
  -        -        -        -        -        -        -        -  
                    
  41,529        20,929        6,580        3,816        429,176        954        72,145        205  
  310        497        392        1,739        703        445        500        590,695  
  -        -        -        9,746        -        -        -        4,741,279  
  -        -        -        869        -        2,163        -        -  
  1,299        1,258        819        459        1,835        849        819        820  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  56,505,383        54,329,116        64,747,341        12,306,923        361,082,236        8,732,527        194,040,491        484,716,893  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
                    
  -        -        -        -        -        -        -        96,445  
                    
  3,540,617        4,933,511        1,009,459        1,308,795        2,041,314        526,404        3,886,448        8,310,967  
  -        -        -        -        -        -        -        4,742,051  
  18,448        17,555        24,991        -        148,473        -        76,683        201,906  
  40,576        42,558        35,634        49,290        91,849        33,894        38,542        39,335  
  92,405        81,128        80,763        68,099        230,678        64,231        168,850        191,591  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  3,692,046        5,074,752        1,150,847        1,426,184        2,512,314        624,529        4,170,523        13,582,295  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
$ 52,813,337      $ 49,254,364      $ 63,596,494      $ 10,880,739      $ 358,569,922      $ 8,107,998      $ 189,869,968      $ 471,134,598  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
                    
$ 120,878,483      $ 127,127,575      $ 96,034,804      $ 116,702,775      $ 744,517,491      $ 28,294,874      $ 192,153,842      $ 451,584,160  
  (68,065,146      (77,873,211      (32,438,310      (105,822,036      (385,947,569      (20,186,876      (2,283,874      19,550,438  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
$ 52,813,337      $ 49,254,364      $ 63,596,494      $ 10,880,739      $ 358,569,922      $ 8,107,998      $ 189,869,968      $ 471,134,598  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
  1,250,000        1,550,000        1,100,000        2,350,000        6,000,000        200,000        3,100,000        5,000,000  
$ 42.25      $ 31.78      $ 57.81      $ 4.63      $ 59.76      $ 40.54      $ 61.25      $ 94.23  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
$ 42.24      $ 31.75      $ 57.70      $ 4.63      $ 59.68      $ 40.44      $ 61.18      $ 94.17  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
$ 50,048,060      $ 49,051,793      $ 58,719,093      $ 17,620,450      $ 324,577,033      $ 6,843,601      $ 155,084,718      $ 454,354,937  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
$ 3,679,648      $ 5,041,464      $ 1,140,492      $ 1,418,114      $ 2,276,765      $ 618,560      $ 4,091,670      $ 8,310,967  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
    
$

3,444,324

 
   $ 5,051,070      $ 959,908      $ 1,217,386      $ 1,913,523      $ 501,842      $ 3,788,024      $ 8,967,095  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

 

  25  

 


 

Statements of Operations

For the six months ended October 31, 2019

(Unaudited)

 

    Invesco
Dynamic
Biotechnology &
Genome

ETF (PBE)
   Invesco
Dynamic Building &
Construction

ETF (PKB)
   Invesco
Dynamic Energy
Exploration &
Production

ETF (PXE)
   Invesco
Dynamic Food &
Beverage

ETF (PBJ)
Investment income:                   

Unaffiliated dividend income

    $ 340,082      $ 628,552      $ 315,103      $ 653,824

Affiliated dividend income

      2,829        2,095        965        1,472

Securities lending income

      4,568        102        36,859        6,080

Foreign withholding tax

      -        -        -        -
   

 

 

      

 

 

      

 

 

      

 

 

 

Total investment income

      347,479        630,749        352,927        661,376
   

 

 

      

 

 

      

 

 

      

 

 

 
Expenses:                   

Advisory fees

      582,963        284,698        78,881        180,046

Sub-licensing fees

      34,984        17,085        4,735        10,804

Accounting & administration fees

      20,818        23,021        14,137        15,220

Professional fees

      13,626        13,567        13,227        12,783

Custodian & transfer agent fees

      3,499        2,154        2,067        2,324

Trustees’ and officer’s fees

      5,182        4,243        3,850        4,111

Listing fee and expenses

      4,525        3,519        3,519        4,525

Proxy fees

      6,730        5,782        5,185        5,464

Other expenses

      13,592        15,615        7,010        8,357
   

 

 

      

 

 

      

 

 

      

 

 

 

Total expenses

      685,919        369,684        132,611        243,634
   

 

 

      

 

 

      

 

 

      

 

 

 

Less: Waivers

      (251 )        (5,602 )        (28,121 )        (11,442 )
   

 

 

      

 

 

      

 

 

      

 

 

 

Net expenses

      685,668        364,082        104,490        232,192
   

 

 

      

 

 

      

 

 

      

 

 

 

Net investment income (loss)

      (338,189 )        266,667        248,437        429,184
   

 

 

      

 

 

      

 

 

      

 

 

 
Realized and unrealized gain (loss) from:                   

Net realized gain (loss) from:

                  

Investment securities

      (14,314,685 )        (1,562,708 )        (14,412,496 )        (1,140,656 )

In-kind redemptions

      9,901,628        6,642,681        25,041        1,993,335
   

 

 

      

 

 

      

 

 

      

 

 

 

Net realized gain (loss)

      (4,413,057 )        5,079,973        (14,387,455 )        852,679
   

 

 

      

 

 

      

 

 

      

 

 

 

Change in net unrealized appreciation (depreciation) of:

                  

Unaffiliated investment securities

      (2,064,001 )        7,114,623        4,706,198        (1,554,030 )

Affiliated investment securities

      -        -        -        -
   

 

 

      

 

 

      

 

 

      

 

 

 

Change in unrealized appreciation (depreciation)

      (2,064,001 )        7,114,623        4,706,198        (1,554,030 )
   

 

 

      

 

 

      

 

 

      

 

 

 

Net realized and unrealized gain (loss)

      (6,477,058 )        12,194,596        (9,681,257 )        (701,351 )
   

 

 

      

 

 

      

 

 

      

 

 

 

Net increase (decrease) in net assets resulting from operations

    $ (6,815,247 )      $ 12,461,263      $ (9,432,820 )      $ (272,167 )
   

 

 

      

 

 

      

 

 

      

 

 

 

 

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

 

 

  26  

 


 

    

 

Invesco
Dynamic Leisure
and
Entertainment
ETF (PEJ)
  Invesco
Dynamic Media
ETF (PBS)
   Invesco
Dynamic
Networking
ETF (PXQ)
   Invesco
Dynamic Oil &
Gas Services
ETF (PXJ)
   Invesco
Dynamic
Pharmaceuticals
ETF (PJP)
   Invesco
Dynamic Retail
ETF (PMR)
   Invesco
Dynamic
Semiconductors
ETF (PSI)
   Invesco
Dynamic
Software

ETF (PSJ)
                                          
  $ 351,722     $ 348,565      $ 287,117      $ 115,421      $ 2,858,243      $ 41,179      $ 1,138,142      $ 880,798
    1,572       1,140        1,329        1,223        3,738        1,042        2,729        3,117
    3,111       2,917        6,062        4,617        5,804        1,526        696        1,038,708
    -       -        -        (1,353 )        -        -        (5,918 )        (55,467 )
 

 

 

     

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

 
    356,405       352,622        294,508        119,908        2,867,785        43,747        1,135,649        1,867,156
 

 

 

     

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

 
                                          
    148,903       170,962        177,348        34,547        955,134        18,939        451,905        1,255,431
    8,936       10,260        10,645        2,074        57,318        1,137        27,119        76,249
    16,109       14,270        14,418        13,313        30,966        12,961        24,603        17,538
    13,440       13,132        12,992        13,268        15,191        12,544        14,003        13,560
    1,546       1,673        1,291        1,931        3,333        3,574        2,564