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Invesco Semi-Annual Report to Shareholders

 

February 28, 2022

 

  PBUS    Invesco PureBetaSM MSCI USA ETF
  PBSM    Invesco PureBetaSM MSCI USA Small Cap ETF
  PBND    Invesco PureBetaSM US Aggregate Bond ETF


 

Table of Contents

 

Schedules of Investments

  

Invesco PureBetaSM MSCI USA ETF (PBUS)

     3  

Invesco PureBetaSM MSCI USA Small Cap ETF (PBSM)

     10  

Invesco PureBetaSM US Aggregate Bond ETF (PBND)

     28  

Statements of Assets and Liabilities

     35  

Statements of Operations

     36  

Statements of Changes in Net Assets

     38  

Financial Highlights

     40  

Notes to Financial Statements

     43  

Fund Expenses

     52  

 

    2    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)

February 28, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares       Value  

Common Stocks & Other Equity Interests-99.90%

 

Communication Services-9.60%

    

Activision Blizzard, Inc.

     47,668      $        3,884,942  

Alphabet, Inc., Class A(b)

     18,410       49,727,987  

Alphabet, Inc., Class C(b)

     17,501       47,214,548  

AMC Entertainment Holdings, Inc., Class A(b)(c)

     31,454       593,222  

AT&T, Inc.

     437,029       10,353,217  

Cable One, Inc.

     333       477,139  

Charter Communications, Inc., Class A(b)(c)

     7,681       4,622,272  

Comcast Corp., Class A

     279,040       13,047,910  

Discovery, Inc., Class A(b)

     10,320       289,476  

Discovery, Inc., Class C(b)

     19,195       536,884  

DISH Network Corp., Class A(b)

     15,104       482,724  

Electronic Arts, Inc.

     17,364       2,258,883  

Fox Corp., Class A

     19,732       825,390  

Fox Corp., Class B

     9,200       351,992  

IAC/InterActiveCorp.(b)

     4,871       558,996  

Interpublic Group of Cos., Inc. (The)

     24,098       886,806  

Liberty Broadband Corp., Class A(b)

     1,460       211,423  

Liberty Broadband Corp., Class C(b)

     8,659       1,270,275  

Liberty Global PLC, Class A (United Kingdom)(b)

     9,690       249,808  

Liberty Global PLC, Class C (United Kingdom)(b)

     20,530       531,111  

Liberty Media Corp.-Liberty Formula One, Class C(b)

     11,837       718,861  

Liberty Media Corp.-Liberty SiriusXM, Class A(b)

     5,048       254,217  

Liberty Media Corp.-Liberty SiriusXM, Class C(b)

     10,309       518,749  

Live Nation Entertainment, Inc.(b)

     10,164       1,228,015  

Lumen Technologies, Inc.(c)

     53,263       551,805  

Match Group, Inc.(b)(c)

     16,459       1,835,014  

Meta Platforms, Inc., Class A(b)

     144,816       30,560,521  

Netflix, Inc.(b)

     27,109       10,695,043  

News Corp., Class A

     24,050       536,796  

Omnicom Group, Inc.

     13,082       1,097,449  

Paramount Global, Class B

     37,130       1,136,549  

Pinterest, Inc., Class A(b)

     34,437       921,190  

Roku, Inc., Class A(b)

     7,204       1,005,174  

Sirius XM Holdings, Inc.(c)

     61,779       380,559  

Snap, Inc., Class A(b)

     66,365       2,650,618  

Take-Two Interactive Software, Inc.(b)

     7,106       1,151,172  

T-Mobile US, Inc.(b)

     38,221       4,709,209  

Twitter, Inc.(b)

     48,936       1,739,675  

Verizon Communications, Inc.

     253,378       13,598,797  

Walt Disney Co. (The)(b)

     111,240       16,514,690  

ZoomInfo Technologies, Inc., Class A(b)

     17,274       944,715  
    

 

 

 
       231,123,823  
    

 

 

 

Consumer Discretionary-11.88%

    

Advance Auto Parts, Inc.

     3,847       786,635  

Airbnb, Inc., Class A(b)

     18,042       2,733,183  

Amazon.com, Inc.(b)

     27,934       85,792,577  

Aptiv PLC(b)

     16,555       2,142,879  

Aramark(c)

     14,103       521,247  

AutoZone, Inc.(b)

     1,283       2,390,729  

Bath & Body Works, Inc.

     16,180       863,527  
         Shares       Value  

Consumer Discretionary-(continued)

    

Best Buy Co., Inc.

     13,548      $        1,309,279  

Booking Holdings, Inc.(b)

     2,513       5,458,864  

BorgWarner, Inc.

     14,674       601,781  

Burlington Stores, Inc.(b)(c)

     4,086       922,987  

Caesars Entertainment, Inc.(b)

     13,083       1,101,458  

CarMax, Inc.(b)

     9,948       1,087,615  

Carnival Corp.(b)(c)

     51,034       1,037,521  

Carvana Co.(b)(c)

     4,714       709,316  

Chewy, Inc., Class A(b)(c)

     5,544       261,344  

Chipotle Mexican Grill, Inc.(b)

     1,722       2,623,209  

D.R. Horton, Inc.

     20,755       1,772,477  

Darden Restaurants, Inc.

     7,956       1,155,370  

Dollar General Corp.

     14,279       2,832,097  

Dollar Tree, Inc.(b)

     13,767       1,956,015  

Domino’s Pizza, Inc.

     2,248       971,608  

DoorDash, Inc., Class A(b)

     6,674       700,436  

DraftKings, Inc., Class A(b)(c)

     19,900       471,232  

eBay, Inc.

     38,311       2,091,397  

Etsy, Inc.(b)

     7,759       1,201,792  

Expedia Group, Inc.(b)

     8,935       1,752,243  

Ford Motor Co.

     240,234       4,218,509  

Garmin Ltd.

     9,416       1,039,903  

General Motors Co.(b)

     79,968       3,736,105  

Genuine Parts Co.

     8,738       1,067,434  

Hasbro, Inc.

     8,020       778,341  

Hilton Worldwide Holdings, Inc.(b)

     17,058       2,539,254  

Home Depot, Inc. (The)

     63,907       20,183,748  

Las Vegas Sands Corp.(b)

     21,040       901,774  

Lear Corp.

     3,650       574,291  

Lennar Corp., Class A

     16,765       1,506,838  

LKQ Corp.

     17,037       799,887  

Lowe’s Cos., Inc.

     41,233       9,114,967  

Lucid Group, Inc.(b)(c)

     25,189       729,977  

lululemon athletica, inc.(b)

     7,245       2,317,965  

Marriott International, Inc., Class A(b)

     16,942       2,882,512  

McDonald’s Corp.

     45,731       11,193,577  

MercadoLibre, Inc. (Brazil)(b)

     2,779       3,130,960  

MGM Resorts International

     22,960       1,016,898  

Mohawk Industries, Inc.(b)

     3,585       504,696  

Newell Brands, Inc.

     23,431       556,486  

NIKE, Inc., Class B

     78,202       10,678,483  

NVR, Inc.(b)

     202       1,001,605  

O’Reilly Automotive, Inc.(b)

     4,124       2,677,466  

Peloton Interactive, Inc., Class A(b)(c)

     17,319       503,290  

Pool Corp.

     2,453       1,124,897  

PulteGroup, Inc.

     15,495       769,482  

Rivian Automotive, Inc., Class A(b)(c)

     10,924       738,025  

Ross Stores, Inc.

     21,790       1,991,388  

Royal Caribbean Cruises Ltd.(b)(c)

     14,034       1,132,824  

Starbucks Corp.

     71,881       6,597,957  

Target Corp.

     29,322       5,857,656  

Tesla, Inc.(b)

     52,242       45,473,004  

TJX Cos., Inc. (The)

     73,595       4,864,629  

Tractor Supply Co.

     6,973       1,421,028  

Ulta Beauty, Inc.(b)

     3,160       1,183,420  

Vail Resorts, Inc.

     2,475       644,861  

VF Corp.

     20,433       1,185,523  

Wayfair, Inc., Class A(b)(c)

     4,534       638,705  

 

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

 

    3    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Consumer Discretionary-(continued)

 

 

Whirlpool Corp.

     3,717      $ 748,121  

Wynn Resorts Ltd.(b)(c)

     6,353       549,662  

Yum! Brands, Inc.

     18,035       2,210,730  
    

 

 

 
          286,035,696  
    

 

 

 

Consumer Staples-6.02%

    

Altria Group, Inc.

     112,507       5,770,484  

Archer-Daniels-Midland Co.

     34,238       2,685,971  

Brown-Forman Corp., Class B

     18,955       1,236,435  

Bunge Ltd.

     8,647       904,044  

Campbell Soup Co.

     12,012       540,180  

Church & Dwight Co., Inc.

     14,983       1,466,087  

Clorox Co. (The)

     7,519       1,096,195  

Coca-Cola Co. (The)

     251,131       15,630,393  

Colgate-Palmolive Co.

     49,003       3,770,781  

Conagra Brands, Inc.

     29,357       1,026,614  

Constellation Brands, Inc., Class A

     10,053       2,167,628  

Costco Wholesale Corp.

     27,059       14,050,386  

Estee Lauder Cos., Inc. (The), Class A

     14,191       4,205,219  

General Mills, Inc.

     37,068       2,499,495  

Hershey Co. (The)

     8,898       1,799,709  

Hormel Foods Corp.

     18,262       870,002  

JM Smucker Co. (The)

     6,632       893,662  

Kellogg Co.

     15,658       1,001,173  

Keurig Dr Pepper, Inc.

     43,390       1,677,891  

Kimberly-Clark Corp.

     20,607       2,682,001  

Kraft Heinz Co. (The)

     41,201       1,615,903  

Kroger Co. (The)

     43,314       2,027,095  

McCormick & Co., Inc.

     15,260       1,452,294  

Molson Coors Beverage Co., Class B

     11,660       608,419  

Mondelez International, Inc., Class A

     85,372       5,590,159  

Monster Beverage Corp.(b)

     24,287       2,049,823  

PepsiCo, Inc.

     84,618       13,855,351  

Philip Morris International, Inc.

     95,278       9,629,747  

Procter & Gamble Co. (The)

     148,101       23,087,465  

Sysco Corp.

     31,375       2,732,762  

Tyson Foods, Inc., Class A

     18,040       1,671,586  

Walgreens Boots Alliance, Inc.

     45,029       2,075,387  

Walmart, Inc.

     93,861       12,686,253  
    

 

 

 
       145,056,594  
    

 

 

 

Energy-3.48%

    

Baker Hughes Co., Class A

     50,547       1,485,071  

Cheniere Energy, Inc.

     14,744       1,959,478  

Chevron Corp.

     117,995       16,991,280  

ConocoPhillips

     80,719       7,657,004  

Coterra Energy, Inc.

     47,301       1,103,532  

Devon Energy Corp.

     39,361       2,343,948  

Diamondback Energy, Inc.

     10,533       1,454,607  

EOG Resources, Inc.

     35,807       4,114,940  

Exxon Mobil Corp.

     259,094       20,318,151  

Halliburton Co.

     54,781       1,836,807  

Hess Corp.

     17,060       1,724,084  

Kinder Morgan, Inc.

     124,675       2,169,345  

Marathon Petroleum Corp.

     37,674       2,933,674  

Occidental Petroleum Corp.

     57,160       2,499,607  

ONEOK, Inc.

     27,291       1,782,102  

Phillips 66

     26,816       2,258,980  

Pioneer Natural Resources Co.

     14,193       3,400,643  

Schlumberger N.V.

     85,841       3,368,401  
         Shares       Value  

Energy-(continued)

    

Valero Energy Corp.

     25,021      $        2,089,504  

Williams Cos., Inc. (The)

     74,360       2,325,981  
    

 

 

 
       83,817,139  
    

 

 

 

Financials-11.26%

    

Aflac, Inc.

     38,461       2,349,582  

AGNC Investment Corp.

     32,031       413,520  

Alleghany Corp.(b)

     838       554,689  

Allstate Corp. (The)

     17,545       2,146,806  

Ally Financial, Inc.

     22,304       1,112,970  

American Express Co.

     40,292       7,838,406  

American Financial Group, Inc.

     4,412       597,341  

American International Group, Inc.

     50,814       3,111,849  

Ameriprise Financial, Inc.

     6,848       2,052,962  

Annaly Capital Management, Inc.(c)

     88,747       617,679  

Aon PLC, Class A

     13,484       3,939,216  

Apollo Global Management, Inc.(c)

     22,016       1,436,764  

Arch Capital Group Ltd.(b)

     23,631       1,113,256  

Arthur J. Gallagher & Co.

     12,685       2,006,640  

Assurant, Inc.

     3,487       591,779  

Bank of America Corp.

     450,779       19,924,432  

Bank of New York Mellon Corp. (The)

     48,013       2,551,891  

Berkshire Hathaway, Inc., Class B(b)

     79,773       25,643,031  

BlackRock, Inc.

     9,297       6,915,945  

Blackstone, Inc., Class A

     42,037       5,358,456  

Brown & Brown, Inc.

     14,692       993,326  

Capital One Financial Corp.

     26,048       3,992,377  

Carlyle Group, Inc. (The)

     9,819       460,217  

Cboe Global Markets, Inc.

     6,527       765,552  

Charles Schwab Corp. (The)

     88,681       7,489,997  

Chubb Ltd.

     26,361       5,368,154  

Cincinnati Financial Corp.

     9,369       1,150,420  

Citigroup, Inc.

     121,437       7,192,713  

Citizens Financial Group, Inc.

     26,083       1,367,271  

CME Group, Inc., Class A

     21,995       5,202,477  

Coinbase Global, Inc., Class A(b)(c)

     2,375       453,079  

Discover Financial Services

     17,936       2,214,020  

Equitable Holdings, Inc.

     22,637       739,324  

Erie Indemnity Co., Class A(c)

     1,555       272,280  

Everest Re Group Ltd.

     2,431       724,973  

FactSet Research Systems, Inc.

     2,304       935,631  

Fidelity National Financial, Inc.

     16,544       788,156  

Fifth Third Bancorp

     42,022       2,010,332  

First Citizens BancShares, Inc., Class A

     732       577,145  

First Republic Bank

     10,817       1,874,153  

Franklin Resources, Inc.

     18,403       547,121  

Globe Life, Inc.

     5,900       595,664  

Goldman Sachs Group, Inc. (The)

     20,638       7,043,543  

Hartford Financial Services Group, Inc. (The)

     20,830       1,447,268  

Huntington Bancshares, Inc.(c)

     88,523       1,373,877  

Intercontinental Exchange, Inc.

     34,480       4,417,578  

Invesco Ltd.(d)

     21,118       448,546  

JPMorgan Chase & Co.

     180,862       25,646,232  

KeyCorp

     56,981       1,428,514  

KKR & Co., Inc., Class A

     32,222       1,937,187  

Lincoln National Corp.

     10,506       708,315  

Loews Corp.

     13,341       818,337  

M&T Bank Corp.

     7,875       1,435,061  

Markel Corp.(b)

     836       1,039,073  

 

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

 

    4    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Financials-(continued)

    

MarketAxess Holdings, Inc.

     2,327      $           887,588  

Marsh & McLennan Cos., Inc.

     30,909       4,803,568  

MetLife, Inc.

     43,757       2,955,785  

Moody’s Corp.

     10,239       3,297,265  

Morgan Stanley

     82,363       7,473,619  

MSCI, Inc.

     5,062       2,539,555  

Nasdaq, Inc.

     7,164       1,226,119  

Northern Trust Corp.

     12,086       1,376,595  

PNC Financial Services Group, Inc. (The)

     25,904       5,161,372  

Principal Financial Group, Inc.

     16,369       1,156,306  

Progressive Corp. (The)

     35,803       3,792,612  

Prudential Financial, Inc.

     23,134       2,583,142  

Raymond James Financial, Inc.

     11,335       1,242,883  

Regions Financial Corp.

     58,341       1,411,269  

Robinhood Markets, Inc., Class A(b)(c)

     11,062       132,855  

S&P Global, Inc.(c)

     21,677       8,144,012  

SEI Investments Co.

     7,312       428,337  

Signature Bank

     3,711       1,279,887  

SoFi Technologies, Inc.(b)(c)

     32,099       367,534  

State Street Corp.

     22,376       1,909,344  

SVB Financial Group(b)

     3,592       2,176,752  

Synchrony Financial

     33,492       1,432,788  

T. Rowe Price Group, Inc.

     13,803       1,995,362  

Tradeweb Markets, Inc., Class A

     6,426       542,868  

Travelers Cos., Inc. (The)

     15,056       2,587,072  

Truist Financial Corp.

     81,695       5,083,063  

U.S. BanCorp

     86,210       4,874,313  

Upstart Holdings, Inc.(b)(c)

     2,508       396,239  

W.R. Berkley Corp.

     8,666       782,540  

Webster Financial Corp.

     11,004       662,551  

Wells Fargo & Co.

     244,018       13,023,241  

Willis Towers Watson PLC

     7,626       1,695,260  
    

 

 

 
       271,156,823  
    

 

 

 

Health Care-13.18%

    

10X Genomics, Inc., Class A(b)

     4,764       388,123  

Abbott Laboratories

     108,292       13,062,181  

AbbVie, Inc.

     108,194       15,987,827  

ABIOMED, Inc.(b)

     2,784       865,100  

Agilent Technologies, Inc.

     18,481       2,409,183  

Align Technology, Inc.(b)

     4,585       2,345,044  

Alnylam Pharmaceuticals, Inc.(b)

     7,320       1,155,462  

AmerisourceBergen Corp.

     9,553       1,361,589  

Amgen, Inc.(c)

     34,472       7,807,219  

Anthem, Inc.

     14,879       6,723,076  

Avantor, Inc.(b)

     33,569       1,164,509  

Baxter International, Inc.

     30,642       2,603,651  

Becton, Dickinson and Co.

     17,382       4,715,389  

Biogen, Inc.(b)

     8,990       1,896,980  

BioMarin Pharmaceutical, Inc.(b)

     11,236       877,756  

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

     1,368       856,313  

Bio-Techne Corp.

     2,405       1,008,681  

Boston Scientific Corp.(b)

     87,209       3,852,022  

Bristol-Myers Squibb Co.

     135,842       9,328,270  

Cardinal Health, Inc.

     17,245       931,402  

Catalent, Inc.(b)

     10,477       1,069,073  

Centene Corp.(b)

     35,710       2,950,360  

Cerner Corp.

     18,031       1,681,391  

Charles River Laboratories International, Inc.(b)

     3,126       910,166  
         Shares       Value  

Health Care-(continued)

    

Cigna Corp.

     20,283      $        4,822,892  

Cooper Cos., Inc. (The)

     3,033       1,240,558  

CVS Health Corp.

     80,788       8,373,676  

Danaher Corp.

     39,359       10,800,503  

DaVita, Inc.(b)

     4,158       468,898  

DENTSPLY SIRONA, Inc.

     13,379       724,339  

DexCom, Inc.(b)

     5,932       2,455,314  

Edwards Lifesciences Corp.(b)

     38,209       4,293,545  

Elanco Animal Health, Inc.(b)

     26,058       740,308  

Eli Lilly and Co.

     49,762       12,438,012  

Exact Sciences Corp.(b)(c)

     10,546       823,221  

Gilead Sciences, Inc.

     76,768       4,636,787  

HCA Healthcare, Inc.

     15,228       3,811,721  

Henry Schein, Inc.(b)

     8,525       736,390  

Hologic, Inc.(b)

     15,465       1,100,644  

Horizon Therapeutics PLC(b)

     13,187       1,202,259  

Humana, Inc.

     7,866       3,416,361  

IDEXX Laboratories, Inc.(b)

     5,189       2,762,364  

Illumina, Inc.(b)

     9,087       2,967,814  

Incyte Corp.(b)

     11,491       784,835  

Insulet Corp.(b)

     4,221       1,117,256  

Intuitive Surgical, Inc.(b)

     21,847       6,342,840  

IQVIA Holdings, Inc.(b)

     11,686       2,689,182  

Jazz Pharmaceuticals PLC(b)

     3,762       516,974  

Johnson & Johnson

     161,115       26,514,696  

Laboratory Corp. of America Holdings(b)

     5,886       1,596,636  

Masimo Corp.(b)

     3,211       505,572  

McKesson Corp.

     9,344       2,569,226  

Medtronic PLC

     82,305       8,641,202  

Merck & Co., Inc.

     154,588       11,838,349  

Mettler-Toledo International, Inc.(b)

     1,407       1,982,097  

Moderna, Inc.(b)

     21,091       3,239,578  

Molina Healthcare, Inc.(b)

     3,574       1,096,753  

Neurocrine Biosciences, Inc.(b)

     5,806       521,785  

Novavax, Inc.(b)(c)

     4,396       366,495  

Novocure Ltd.(b)(c)

     5,718       468,075  

PerkinElmer, Inc.

     6,951       1,248,469  

Pfizer, Inc.

     343,507       16,124,219  

Quest Diagnostics, Inc.

     7,508       985,575  

Regeneron Pharmaceuticals, Inc.(b)

     6,470       4,000,789  

ResMed, Inc.

     8,918       2,200,517  

Royalty Pharma PLC, Class A

     21,029       825,599  

Seagen, Inc.(b)

     8,393       1,081,606  

STERIS PLC

     6,121       1,469,040  

Stryker Corp.

     20,800       5,477,680  

Teladoc Health, Inc.(b)(c)

     8,818       669,374  

Teleflex, Inc.

     2,867       964,201  

Thermo Fisher Scientific, Inc.

     24,116       13,119,104  

UnitedHealth Group, Inc.

     57,641       27,429,623  

Universal Health Services, Inc., Class B

     4,475       644,087  

Veeva Systems, Inc., Class A(b)

     8,486       1,943,718  

Vertex Pharmaceuticals, Inc.(b)

     15,560       3,579,111  

Viatris, Inc.

     74,015       814,905  

Waters Corp.(b)

     3,748       1,187,104  

West Pharmaceutical Services, Inc.

     4,534       1,755,021  

Zimmer Biomet Holdings, Inc.

     12,785       1,626,124  

Zoetis, Inc.

     28,955       5,607,136  
    

 

 

 
       317,310,926  
    

 

 

 

 

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

 

    5    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Industrials-7.83%

    

3M Co.

     35,302      $        5,247,642  

A.O. Smith Corp.

     8,131       557,624  

Allegion PLC

     5,480       627,570  

AMERCO

     600       346,566  

AMETEK, Inc.

     14,157       1,837,437  

Boeing Co. (The)(b)

     34,169       7,016,262  

Booz Allen Hamilton Holding Corp.

     8,251       665,773  

C.H. Robinson Worldwide, Inc.

     8,041       777,404  

Carrier Global Corp.

     50,383       2,261,189  

Caterpillar, Inc.

     33,106       6,210,024  

Cintas Corp.

     5,696       2,137,823  

Clarivate PLC(b)(c)

     21,478       321,740  

Copart, Inc.(b)

     13,064       1,605,304  

CoStar Group, Inc.(b)

     24,170       1,474,612  

CSX Corp.

     135,740       4,602,943  

Cummins, Inc.

     8,762       1,788,499  

Deere & Co.

     18,060       6,501,961  

Delta Air Lines, Inc.(b)

     9,792       390,897  

Dover Corp.

     8,812       1,382,250  

Eaton Corp. PLC

     24,394       3,763,750  

Emerson Electric Co.

     36,478       3,389,536  

Equifax, Inc.

     7,466       1,630,126  

Expeditors International of Washington, Inc.

     10,369       1,071,740  

Fastenal Co.

     35,200       1,811,392  

FedEx Corp.

     15,445       3,432,960  

Fortive Corp.

     20,848       1,349,908  

Fortune Brands Home & Security, Inc.

     8,415       731,264  

Generac Holdings, Inc.(b)

     3,861       1,218,030  

General Dynamics Corp.

     14,525       3,405,386  

General Electric Co.

     67,206       6,418,845  

HEICO Corp.(c)

     2,655       391,639  

HEICO Corp., Class A

     4,470       549,452  

Honeywell International, Inc.

     42,131       7,994,357  

Howmet Aerospace, Inc.

     23,556       846,132  

Huntington Ingalls Industries, Inc.

     2,447       500,167  

IDEX Corp.

     4,653       892,911  

Illinois Tool Works, Inc.

     19,220       4,158,055  

Ingersoll Rand, Inc.

     24,944       1,260,171  

J.B. Hunt Transport Services, Inc.

     5,141       1,043,263  

Jacobs Engineering Group, Inc.

     7,956       978,588  

Johnson Controls International PLC

     43,105       2,800,101  

Knight-Swift Transportation Holdings, Inc.

     9,649       525,678  

L3Harris Technologies, Inc.

     12,009       3,029,991  

Leidos Holdings, Inc.

     8,209       836,005  

Lennox International, Inc.

     2,016       538,131  

Lockheed Martin Corp.

     15,207       6,596,797  

Lyft, Inc., Class A(b)

     16,261       633,203  

Masco Corp.

     15,082       845,195  

Nordson Corp.

     3,201       724,995  

Norfolk Southern Corp.

     14,893       3,820,352  

Northrop Grumman Corp.

     9,217       4,075,204  

Old Dominion Freight Line, Inc.

     6,010       1,887,320  

Otis Worldwide Corp.

     24,733       1,937,336  

Owens Corning

     6,233       580,853  

PACCAR, Inc.

     21,247       1,950,687  

Parker-Hannifin Corp.

     7,882       2,336,146  

Pentair PLC

     10,125       586,339  

Plug Power, Inc.(b)(c)

     31,746       802,856  

Raytheon Technologies Corp.

     91,603       9,407,628  
         Shares       Value  

Industrials-(continued)

    

Republic Services, Inc.

     13,594      $        1,635,086  

Robert Half International, Inc.

     6,830       821,581  

Rockwell Automation, Inc.

     7,098       1,892,185  

Rollins, Inc.

     13,508       440,766  

Roper Technologies, Inc.

     6,456       2,893,708  

Sensata Technologies Holding PLC(b)

     9,699       561,669  

Snap-on, Inc.

     3,300       693,594  

Southwest Airlines Co.(b)

     9,023       395,207  

Stanley Black & Decker, Inc.

     9,978       1,623,421  

Sunrun, Inc.(b)(c)

     10,768       293,751  

Textron, Inc.

     13,595       994,202  

Trane Technologies PLC

     14,537       2,237,680  

TransDigm Group, Inc.(b)

     3,212       2,141,087  

TransUnion

     11,726       1,064,252  

Uber Technologies, Inc.(b)

     89,051       3,208,508  

Union Pacific Corp.

     39,344       9,676,657  

United Parcel Service, Inc., Class B

     44,624       9,389,782  

United Rentals, Inc.(b)

     4,431       1,425,098  

Verisk Analytics, Inc.

     9,370       1,661,676  

W.W. Grainger, Inc.

     2,680       1,278,521  

Wabtec Corp.

     10,957       1,017,029  

Waste Connections, Inc.

     15,944       1,968,925  

Waste Management, Inc.

     25,657       3,704,871  

Xylem, Inc.

     11,036       981,652  
    

 

 

 
       188,506,917  
    

 

 

 

Information Technology-28.82%

    

Accenture PLC, Class A

     38,677       12,222,706  

Adobe, Inc.(b)

     29,133       13,624,921  

Advanced Micro Devices, Inc.(b)

     100,045       12,339,550  

Affirm Holdings, Inc.(b)

     10,193       426,475  

Akamai Technologies, Inc.(b)(c)

     9,941       1,076,213  

Amphenol Corp., Class A

     36,599       2,781,890  

Analog Devices, Inc.

     32,828       5,262,000  

ANSYS, Inc.(b)

     5,340       1,731,175  

Apple, Inc.

     1,004,071       165,792,204  

Applied Materials, Inc.

     55,259       7,415,758  

Arista Networks, Inc.(b)

     14,085       1,728,652  

Arrow Electronics, Inc.(b)

     4,336       528,472  

Asana, Inc., Class A(b)(c)

     4,065       222,721  

Autodesk, Inc.(b)

     13,455       2,963,195  

Automatic Data Processing, Inc.

     25,816       5,277,823  

Avalara, Inc.(b)(c)

     5,319       552,697  

Bentley Systems, Inc., Class B

     10,770       413,460  

Bill.com Holdings, Inc.(b)(c)

     4,707       1,119,701  

Black Knight, Inc.(b)

     9,551       536,671  

Block, Inc., Class A(b)

     31,087       3,963,592  

Broadcom, Inc.

     25,191       14,798,201  

Broadridge Financial Solutions, Inc.

     7,135       1,043,208  

Cadence Design Systems, Inc.(b)

     16,961       2,568,404  

CDW Corp.

     8,359       1,441,593  

Ceridian HCM Holding, Inc.(b)

     8,335       607,705  

Cisco Systems, Inc.

     258,117       14,395,185  

Citrix Systems, Inc.

     7,633       782,382  

Cloudflare, Inc., Class A(b)

     15,924       1,853,872  

Cognex Corp.

     10,820       730,999  

Cognizant Technology Solutions Corp., Class A

     32,145       2,768,649  

Corning, Inc.

     49,617       2,004,527  

Coupa Software, Inc.(b)(c)

     4,532       548,417  

 

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

 

    6    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Information Technology-(continued)

 

 

Crowdstrike Holdings, Inc., Class A(b)

     11,967      $        2,336,078  

Datadog, Inc., Class A(b)

     13,379       2,155,491  

Dell Technologies, Inc., Class C(b)

     17,800       907,088  

DocuSign, Inc.(b)

     12,039       1,425,779  

Dropbox, Inc., Class A(b)

     19,241       436,578  

Dynatrace, Inc.(b)

     11,340       503,723  

Enphase Energy, Inc.(b)

     7,844       1,307,595  

Entegris, Inc.

     8,293       1,082,071  

EPAM Systems, Inc.(b)

     3,471       721,100  

F5, Inc.(b)

     3,747       752,585  

Fair Isaac Corp.(b)

     1,674       788,772  

Fidelity National Information Services, Inc.

     37,267       3,548,936  

Fiserv, Inc.(b)

     36,368       3,552,063  

FleetCor Technologies, Inc.(b)

     4,721       1,105,658  

Fortinet, Inc.(b)

     8,505       2,930,143  

Gartner, Inc.(b)

     5,055       1,417,523  

Global Payments, Inc.

     17,757       2,368,429  

GoDaddy, Inc., Class A(b)

     10,305       859,540  

Guidewire Software, Inc.(b)

     4,843       426,910  

Hewlett Packard Enterprise Co.

     80,053       1,274,444  

HP, Inc.

     70,534       2,423,548  

HubSpot, Inc.(b)

     2,762       1,450,050  

Intel Corp.

     248,900       11,872,530  

International Business Machines Corp.

     54,884       6,723,839  

Intuit, Inc.

     16,463       7,809,553  

IPG Photonics Corp.(b)

     2,284       297,719  

Jack Henry & Associates, Inc.

     4,531       801,081  

Juniper Networks, Inc.

     19,901       672,455  

Keysight Technologies, Inc.(b)

     11,273       1,774,032  

KLA Corp.

     9,279       3,233,731  

Lam Research Corp.

     8,617       4,837,153  

Marvell Technology, Inc.

     50,406       3,444,242  

Mastercard, Inc., Class A

     53,687       19,371,343  

Microchip Technology, Inc.

     33,958       2,388,266  

Micron Technology, Inc.

     68,460       6,083,356  

Microsoft Corp.

     436,514       130,426,018  

MongoDB, Inc.(b)(c)

     3,645       1,392,354  

Monolithic Power Systems, Inc.

     2,680       1,229,316  

Motorola Solutions, Inc.

     10,335       2,278,144  

NetApp, Inc.

     13,686       1,072,709  

NortonLifeLock, Inc.

     35,605       1,031,833  

Nuance Communications, Inc.(b)

     18,573       1,031,173  

NVIDIA Corp.

     153,000       37,309,050  

NXP Semiconductors N.V. (China)

     16,275       3,094,203  

Okta, Inc.(b)(c)

     9,034       1,651,777  

ON Semiconductor Corp.(b)

     26,367       1,650,838  

Oracle Corp.

     100,381       7,625,945  

Palantir Technologies, Inc., Class A(b)(c)

     99,181       1,175,295  

Palo Alto Networks, Inc.(b)

     6,038       3,588,081  

Paychex, Inc.

     19,861       2,364,651  

Paycom Software, Inc.(b)

     3,123       1,059,353  

PayPal Holdings, Inc.(b)

     68,310       7,645,938  

PTC, Inc.(b)

     6,853       762,602  

Qorvo, Inc.(b)

     6,780       927,368  

QUALCOMM, Inc.

     68,544       11,788,883  

RingCentral, Inc., Class A(b)

     4,774       624,630  

salesforce.com, inc.(b)

     59,915       12,613,905  

Seagate Technology Holdings PLC

     12,263       1,265,051  

ServiceNow, Inc.(b)

     12,179       7,062,846  

Skyworks Solutions, Inc.

     10,122       1,398,557  
         Shares       Value  

Information Technology-(continued)

    

Snowflake, Inc., Class A(b)

     12,891      $        3,424,623  

SolarEdge Technologies, Inc.(b)(c)

     3,214       1,026,616  

Splunk, Inc.(b)

     9,961       1,176,394  

SS&C Technologies Holdings, Inc.

     14,011       1,050,405  

Synopsys, Inc.(b)

     9,333       2,915,536  

TE Connectivity Ltd. (Switzerland)

     20,010       2,850,024  

Teledyne Technologies, Inc.(b)(c)

     2,869       1,231,891  

Teradyne, Inc.

     10,071       1,187,572  

Texas Instruments, Inc.

     56,520       9,607,835  

Trade Desk, Inc. (The), Class A(b)

     26,688       2,277,020  

Trimble, Inc.(b)

     15,352       1,070,802  

Twilio, Inc., Class A(b)

     10,309       1,802,013  

Tyler Technologies, Inc.(b)

     2,508       1,074,076  

Unity Software, Inc.(b)

     3,501       372,681  

VeriSign, Inc.(b)

     6,146       1,313,523  

Visa, Inc., Class A(c)

     102,187       22,084,654  

VMware, Inc., Class A

     12,842       1,506,623  

Western Digital Corp.(b)

     19,071       971,477  

Western Union Co. (The)(c)

     24,788       450,646  

Workday, Inc., Class A(b)

     11,812       2,705,539  

Zebra Technologies Corp., Class A(b)

     3,271       1,352,035  

Zendesk, Inc.(b)

     7,398       863,125  

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

     13,343       1,769,282  

Zscaler, Inc.(b)

     5,143       1,229,948  
    

 

 

 
       693,991,282  
    

 

 

 

Materials-2.53%

    

Air Products and Chemicals, Inc.

     13,553       3,202,574  

Albemarle Corp.

     7,159       1,402,377  

Amcor PLC

     93,859       1,091,580  

Avery Dennison Corp.

     5,067       892,805  

Ball Corp.

     19,926       1,788,159  

Celanese Corp.

     6,663       928,023  

CF Industries Holdings, Inc.

     13,124       1,065,538  

Corteva, Inc.

     44,788       2,330,320  

Crown Holdings, Inc.

     7,826       960,015  

Dow, Inc.

     45,410       2,677,374  

DuPont de Nemours, Inc.

     31,708       2,453,248  

Eastman Chemical Co.

     8,287       981,761  

Ecolab, Inc.

     15,784       2,782,088  

FMC Corp.

     7,858       921,350  

Freeport-McMoRan, Inc.

     89,871       4,219,443  

International Flavors & Fragrances, Inc.

     15,578       2,071,874  

International Paper Co.

     22,649       985,911  

Linde PLC (United Kingdom)

     31,368       9,198,352  

LyondellBasell Industries N.V., Class A

     16,321       1,586,891  

Martin Marietta Materials, Inc.

     3,818       1,448,549  

Mosaic Co. (The)

     22,669       1,188,536  

Newmont Corp.

     48,803       3,230,759  

Nucor Corp.

     17,491       2,302,165  

Packaging Corp. of America

     5,813       855,615  

PPG Industries, Inc.

     14,529       1,938,895  

RPM International, Inc.

     7,923       670,048  

Sealed Air Corp.

     9,143       613,770  

Sherwin-Williams Co. (The)

     15,262       4,015,890  

Steel Dynamics, Inc.

     12,145       857,194  

Vulcan Materials Co.

     8,122       1,473,737  

WestRock Co.

     16,285       737,222  
    

 

 

 
       60,872,063  
    

 

 

 

 

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

 

    7    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Real Estate-2.79%

    

Alexandria Real Estate Equities, Inc.(c)

     9,010      $ 1,706,494  

American Tower Corp.

     27,871       6,323,094  

AvalonBay Communities, Inc.

     8,552       2,040,422  

Boston Properties, Inc.

     9,082       1,110,819  

Camden Property Trust

     6,254       1,032,598  

CBRE Group, Inc., Class A(b)

     20,479       1,983,391  

Crown Castle International Corp.

     26,451       4,406,472  

Digital Realty Trust, Inc.

     17,368       2,343,291  

Duke Realty Corp.

     23,308       1,235,324  

Equinix, Inc.

     5,511       3,911,322  

Equity LifeStyle Properties, Inc.

     10,688       797,539  

Equity Residential

     21,803       1,859,796  

Essex Property Trust, Inc.

     3,983       1,263,288  

Extra Space Storage, Inc.

     8,194       1,541,701  

Healthpeak Properties, Inc.

     32,991       1,024,700  

Host Hotels & Resorts, Inc.(b)

     43,699       798,381  

Invitation Homes, Inc.

     36,522       1,380,532  

Iron Mountain, Inc.

     17,720       871,470  

Kimco Realty Corp.

     37,725       887,669  

Medical Properties Trust, Inc.

     36,494       742,288  

Mid-America Apartment Communities, Inc.

     7,075       1,447,616  

Prologis, Inc.

     45,247       6,599,275  

Public Storage

     9,686       3,438,724  

Realty Income Corp.

     34,631       2,288,763  

Regency Centers Corp.

     9,430       621,343  

SBA Communications Corp., Class A

     6,683       2,027,555  

Simon Property Group, Inc.

     20,111       2,766,469  

Sun Communities, Inc.(c)

     7,097       1,284,557  

UDR, Inc.

     18,922       1,038,250  

Ventas, Inc.

     24,430       1,319,220  

VICI Properties, Inc.

     38,491       1,076,208  

Vornado Realty Trust

     9,941       430,246  

W.P. Carey, Inc.

     11,401       882,437  

Welltower, Inc.

     26,639       2,218,762  

Weyerhaeuser Co.

     45,842       1,782,337  

Zillow Group, Inc., Class A(b)

     3,747       214,591  

Zillow Group, Inc., Class C(b)(c)

     10,312       593,146  
    

 

 

 
       67,290,090  
    

 

 

 

Utilities-2.51%

    

AES Corp. (The)

     40,803       866,248  

Alliant Energy Corp.

     15,322       894,805  

Ameren Corp.

     15,765       1,355,002  

American Electric Power Co., Inc.

     30,823       2,794,105  

American Water Works Co., Inc.

     11,110       1,678,610  

Atmos Energy Corp.(c)

     8,104       889,900  

CenterPoint Energy, Inc.

     38,487       1,052,619  

CMS Energy Corp.

     17,729       1,134,833  
         Shares       Value  

Utilities-(continued)

    

Consolidated Edison, Inc.

     21,649      $ 1,856,835  

Constellation Energy Corp.

     19,948       917,209  

Dominion Energy, Inc.

     49,566       3,941,984  

DTE Energy Co.

     11,856       1,441,571  

Duke Energy Corp.

     47,084       4,727,704  

Edison International

     23,250       1,474,515  

Entergy Corp.

     12,300       1,294,083  

Essential Utilities, Inc.

     14,694       692,234  

Evergy, Inc.

     14,033       875,800  

Eversource Energy

     21,041       1,721,154  

Exelon Corp.

     59,873       2,548,195  

FirstEnergy Corp.

     33,318       1,394,358  

NextEra Energy, Inc.

     120,083       9,398,896  

NiSource, Inc.

     24,034       695,304  

NRG Energy, Inc.

     14,984       566,995  

PG&E Corp.(b)(c)

     91,128       1,036,125  

PPL Corp.

     45,944       1,202,355  

Public Service Enterprise Group, Inc.

     30,947       2,006,294  

Sempra Energy

     19,543       2,818,491  

Southern Co. (The)

     64,860       4,200,982  

UGI Corp.

     12,804       492,186  

Vistra Corp.

     26,583       606,624  

WEC Energy Group, Inc.

     19,305       1,754,438  

Xcel Energy, Inc.

     32,967       2,219,668  
    

 

 

 
       60,550,122  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.90%
(Cost $2,300,653,285)

 

    2,405,711,475  
    

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-2.74%

 

 

Invesco Private Government Fund, 0.12%(d)(e)(f)

     19,753,673       19,753,673  

Invesco Private Prime Fund, 0.08%(d)(e)(f)

     46,087,294       46,091,904  
    

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $65,850,498)

 

    65,845,577  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-102.64%
(Cost $2,366,503,783)

 

    2,471,557,052  

OTHER ASSETS LESS LIABILITIES-(2.64)%

 

    (63,484,221
    

 

 

 

NET ASSETS-100.00%

 

  $ 2,408,072,831  
    

 

 

 

 

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

 

    8    

 

 

 

 


 

Invesco PureBetaSM MSCI USA ETF (PBUS)–(continued)

February 28, 2022

(Unaudited)

    

 

Notes to Schedule of Investments:

(a) 

Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at February 28, 2022.

(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 six months ended February 28, 2022.

 

     Value
August 31, 2021
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
(Loss)
  Value
February 28, 2022
   Dividend
Income
Invesco Ltd.      $ 462,824      $ 132,131      $ (53,494 )     $ (87,190 )     $ (5,725 )     $ 448,546      $ 7,551
Investments in Affiliated Money Market Funds:                                
Invesco Government & Agency Portfolio, Institutional Class        -        24,102,424        (24,102,424 )       -       -       -        141
Investments Purchased with Cash Collateral from Securities on Loan:                                
Invesco Private Government Fund        3,815,320        81,244,049        (65,305,696 )       -       -       19,753,673        1,737 *
Invesco Private Prime Fund        9,010,612        181,178,005        (144,086,520 )       (4,921 )       (5,272 )       46,091,904        12,965 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

     

 

 

      

 

 

 
Total      $ 13,288,756      $ 286,656,609      $ (233,548,134 )     $ (92,111 )     $ (10,997 )     $ 66,294,123      $ 22,394
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

     

 

 

      

 

 

 

 

*

Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statements of Operations. 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 February 28, 2022.

(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. See Note 2I.

Portfolio Composition

Sector Breakdown (% of the Fund’s Net Assets)

as of February 28, 2022

 

     

Information Technology

     28.82                                   

Health Care

     13.18     

Consumer Discretionary

     11.88     

Financials

     11.26     

Communication Services

     9.60     

Industrials

     7.83     

Consumer Staples

     6.02     

Energy

     3.48     

Sector Types Each Less Than 3%

     7.83     

Money Market Funds Plus Other Assets Less Liabilities

     0.10     

 

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

 

    9    

 

 

 

 


 

Invesco PureBetaSM MSCI USA Small Cap ETF (PBSM)

February 28, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares       Value  

Common Stocks & Other Equity Interests-99.93%

 

Communication Services-2.43%

    

Advantage Solutions, Inc.(b)(c)

     477       $ 3,754  

Altice USA, Inc., Class A(b)

     1,624              18,773  

AMC Networks, Inc., Class A(b)(c)

     208       8,622  

Angi, Inc., Class A(b)(c)

     524       3,610  

Anterix, Inc.(b)

     89       4,742  

ATN International, Inc.

     83       2,766  

Audacy, Inc.(b)(c)

     925       2,868  

Bandwidth, Inc., Class A(b)(c)

     165       5,041  

Boston Omaha Corp., Class A(b)

     129       3,611  

Bumble, Inc., Class A(b)(c)

     530       13,584  

Cardlytics, Inc.(b)(c)

     248       14,384  

Cargurus, Inc.(b)

     603       29,215  

Cars.com, Inc.(b)

     517       8,365  

Cinemark Holdings, Inc.(b)(c)

     757       13,278  

Clear Channel Outdoor Holdings, Inc.(b)

     2,468       9,230  

Cogent Communications Holdings, Inc.

     322       20,415  

Consolidated Communications Holdings, Inc.(b)

     555       3,952  

CuriosityStream, Inc.(b)

     213       780  

E.W. Scripps Co. (The), Class A(b)

     396       8,815  

EchoStar Corp., Class A(b)

     289       7,034  

Eventbrite, Inc., Class A(b)(c)

     537       8,114  

EverQuote, Inc., Class A(b)

     140       2,083  

Frontier Communications Parent, Inc.(b)

     1,372       37,799  

fuboTV, Inc.(b)(c)

     367       3,138  

Gannett Co., Inc.(b)

     1,014       5,029  

Globalstar, Inc.(b)

     5,367       6,333  

Gogo, Inc.(b)(c)

     373       5,312  

Gray Television, Inc.(c)

     598       14,011  

Hemisphere Media Group, Inc.(b)

     123       658  

IDT Corp., Class B(b)

     163       5,878  

iHeartMedia, Inc., Class A(b)

     891       19,112  

IMAX Corp.(b)

     377       7,796  

Iridium Communications, Inc.(b)

     888       35,156  

John Wiley & Sons, Inc., Class A

     329       16,552  

Liberty Latin America Ltd., Class A (Chile)(b)

     344       3,457  

Liberty Latin America Ltd., Class C (Chile)(b)

     1,162       11,725  

Liberty Media Corp.-Liberty Braves, Class A(b)(c) .

     61       1,563  

Liberty Media Corp.-Liberty Braves, Class C(b)

     295       7,286  

Lions Gate Entertainment Corp., Class A(b)

     436       6,697  

Lions Gate Entertainment Corp., Class B(b)

     901       12,839  

Loyalty Ventures, Inc.(b)

     147       3,528  

Madison Square Garden Entertainment Corp.(b)(c)

     182       14,262  

Madison Square Garden Sports Corp., Class A(b)

     110       19,030  

Magnite, Inc.(b)(c)

     933       13,603  

Marcus Corp. (The)(b)(c)

     164       2,982  

MediaAlpha, Inc., Class A(b)

     117       1,680  

New York Times Co. (The), Class A

     1,254       55,163  

Nexstar Media Group, Inc., Class A

     306       56,625  

PubMatic, Inc., Class A(b)

     196       5,998  

QuinStreet, Inc.(b)

     385       4,331  

Radius Global Infrastructure, Inc., Class A(b)

     452       5,813  

Scholastic Corp.

     196       8,248  

Shenandoah Telecommunications Co.

     355       7,934  

Sinclair Broadcast Group, Inc., Class A

     369       11,070  

Skillz, Inc., (Acquired 05/27/2021 -02/10/2022; Cost $11,267)(b)(d)

     751       2,336  
         Shares       Value  

Communication Services-(continued)

    

Stagwell, Inc.(b)

     478       $ 3,623  

TechTarget, Inc.(b)(c)

     189              14,814  

TEGNA, Inc.

     1,573       36,053  

Telephone & Data Systems, Inc.

     720       12,492  

Thryv Holdings, Inc.(b)

     152       4,621  

TripAdvisor, Inc.(b)

     746       18,978  

TrueCar, Inc.(b)

     641       2,141  

United States Cellular Corp.(b)

     100       2,751  

Vimeo, Inc.(b)(c)

     1,104       14,341  

WideOpenWest, Inc.(b)

     391       6,643  

World Wrestling Entertainment, Inc., Class A

     337       19,971  

Yelp, Inc.(b)

     551       18,673  

Ziff Davis, Inc.(b)

     342       34,405  

ZipRecruiter, Inc., Class A(b)

     155       3,097  

Zynga, Inc., Class A(b)

     7,133       64,768  
    

 

 

 
       863,351  
    

 

 

 

Consumer Discretionary-13.81%

    

1-800-Flowers.com, Inc., Class A(b)

     208       3,220  

2U, Inc.(b)(c)

     559       5,869  

Aaron’s Co., Inc. (The)

     245       5,143  

Abercrombie & Fitch Co., Class A(b)

     427       16,260  

Academy Sports & Outdoors, Inc.(b)

     633       20,490  

Accel Entertainment, Inc.(b)

     421       5,511  

Acushnet Holdings Corp.

     277       12,133  

Adient PLC(b)

     705       31,549  

Adtalem Global Education, Inc.(b)

     353       7,335  

American Axle & Manufacturing Holdings, Inc.(b)

     853       7,899  

American Eagle Outfitters, Inc.(c)

     1,192       25,127  

American Public Education, Inc.(b)

     139       2,774  

America’s Car-Mart, Inc.(b)

     50       4,809  

AMMO, Inc.(b)(c)

     636       2,996  

Arko Corp.(b)

     369       3,081  

Asbury Automotive Group, Inc.(b)

     161       31,252  

Autoliv, Inc. (Sweden)

     629       55,358  

AutoNation, Inc.(b)

     319       36,577  

Bally’s Corp.(b)

     245       8,825  

BARK, Inc.(b)

     442       1,392  

Beachbody Co., Inc. (The)(b)(c)

     750       1,500  

Bed Bath & Beyond, Inc.(b)(c)

     743       12,549  

Big Lots, Inc.

     247       8,586  

BJ’s Restaurants, Inc.(b)

     178       5,708  

Bloomin’ Brands, Inc.(b)

     602       14,815  

Boot Barn Holdings, Inc.(b)

     220       19,144  

Boyd Gaming Corp.(b)

     630       44,692  

Bright Horizons Family Solutions, Inc.(b)

     454       59,311  

Brinker International, Inc.(b)

     344       14,634  

Brunswick Corp.

     569       54,351  

Buckle, Inc. (The)(c)

     223       8,028  

Caleres, Inc.

     287       5,958  

Callaway Golf Co.(b)(c)

     905       22,390  

Camping World Holdings, Inc., Class A

     307       9,428  

Canoo, Inc.(b)(c)

     796       4,569  

Capri Holdings Ltd.(b)

     1,140       77,224  

CarLotz, Inc.(b)(c)

     511       1,032  

CarParts.com, Inc.(b)(c)

     289       2,419  

Carriage Services, Inc.

     127       6,250  

Carter’s, Inc.

     317       30,648  

 

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

 

    10    

 

 

 

 


 

Invesco PureBetaSM MSCI USA Small Cap ETF (PBSM)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Consumer Discretionary-(continued)

    

Cavco Industries, Inc.(b)

     62       $        16,903  

Century Communities, Inc.

     227       14,464  

Cheesecake Factory, Inc. (The)(b)(c)

     367       15,704  

Chegg, Inc.(b)(c)

     1,082       33,834  

Children’s Place, Inc. (The)(b)

     104       6,548  

Choice Hotels International, Inc.

     277       39,985  

Churchill Downs, Inc.

     257       61,904  

Chuy’s Holdings, Inc.(b)

     149       4,857  

Citi Trends, Inc.(b)

     65       2,425  

Clarus Corp.(c)

     165       3,757  

Columbia Sportswear Co.

     271       25,127  

Container Store Group, Inc. (The)(b)

     246       2,172  

ContextLogic, Inc., Class A(b)

     2,084       4,939  

Coursera, Inc.(b)(c)

     361       7,339  

Cracker Barrel Old Country Store, Inc.(c)

     169       22,692  

Cricut, Inc., Class A(b)(c)

     92       1,539  

Crocs, Inc.(b)

     441       36,925  

Dana, Inc.

     1,087       20,240  

Dave & Buster’s Entertainment, Inc.(b)

     289       12,525  

Deckers Outdoor Corp.(b)

     203       58,594  

Denny’s Corp.(b)

     481       7,609  

Designer Brands, Inc., Class A(b)(c)

     463       6,042  

Dick’s Sporting Goods, Inc.(c)

     471       49,455  

Dillard’s, Inc., Class A

     45       11,282  

Dine Brands Global, Inc.

     122       10,228  

Dorman Products, Inc.(b)

     218       20,366  

Dream Finders Homes, Inc., Class A(b)

     134       2,696  

Duluth Holdings, Inc., Class B(b)

     156       2,173  

Duolingo, Inc.(b)

     48       4,142  

El Pollo Loco Holdings, Inc.(b)

     151       2,004  

Electric Last Mile Solutions, Inc.(b)(c)

     417       909  

Ethan Allen Interiors, Inc.

     161       4,196  

European Wax Center, Inc., Class A(b)(c)

     95       2,363  

Everi Holdings, Inc.(b)

     675       15,795  

F45 Training Holdings, Inc.(b)(c)

     140       2,153  

Faraday Future Intelligent Electric, Inc.(b)(c)

     779       4,479  

Fisker, Inc.(b)(c)

     1,104       13,469  

Five Below, Inc.(b)

     422       69,043  

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

     785       75,062  

Foot Locker, Inc.

     697       22,039  

Fox Factory Holding Corp.(b)

     315       37,176  

Franchise Group, Inc.

     180       7,587  

frontdoor, inc.(b)

     646       19,412  

Funko, Inc., Class A(b)

     162       2,829  

GameStop Corp., Class A(b)(c)

     479       59,080  

GAN Ltd. (United Kingdom)(b)

     252       1,681  

Gap, Inc. (The)(c)

     1,690       24,589  

Genesco, Inc.(b)

     106       6,800  

Gentex Corp.

     1,783       53,971  

Gentherm, Inc.(b)

     249       21,125  

G-III Apparel Group Ltd.(b)

     327       9,071  

Golden Entertainment, Inc.(b)

     140       7,970  

Golden Nugget Online Gaming, Inc.(b)

     295       2,537  

Goodyear Tire & Rubber Co. (The)(b)(c)

     2,105       32,606  

GoPro, Inc., Class A(b)(c)

     899       7,731  

Graham Holdings Co., Class B

     30       18,034  

Grand Canyon Education, Inc.(b)

     300       26,049  

Green Brick Partners, Inc.(b)

     248       5,751  

Group 1 Automotive, Inc.

     129       23,469  

Groupon, Inc.(b)(c)

     187       4,062  
         Shares       Value  

Consumer Discretionary-(continued)

    

GrowGeneration Corp.(b)(c)

     357       $          3,002  

Guess?, Inc.(c)

     296       6,482  

H&R Block, Inc.

     1,333       33,072  

Hanesbrands, Inc.

     2,613       40,371  

Harley-Davidson, Inc.

     1,154       47,660  

Haverty Furniture Cos., Inc., (Acquired 09/19/2017 - 02/10/2022; Cost $3,615)(d)

     121       3,438  

Hayward Holdings, Inc.(b)

     346       6,190  

Helen of Troy Ltd.(b)(c)

     180       37,021  

Hibbett, Inc.(c)

     120       5,410  

Hilton Grand Vacations, Inc.(b)

     672       34,850  

Holley, Inc.(b)

     309       4,008  

Houghton Mifflin Harcourt Co.(b)

     952       19,944  

Hovnanian Enterprises, Inc., Class A(b)

     42       4,037  

Hyatt Hotels Corp., Class A

     368       35,736  

Installed Building Products, Inc.

     174       16,826  

iRobot Corp.(b)

     211       13,116  

Jack in the Box, Inc.(c)

     163       14,062  

Johnson Outdoors, Inc., Class A

     44       3,629  

KB Home

     590       22,780  

Kohl’s Corp.

     1,128       62,739  

Kontoor Brands, Inc.

     368       18,231  

Krispy Kreme, Inc.(c)

     564       8,409  

Lands’ End, Inc.(b)

     95       1,611  

Latham Group, Inc.(b)(c)

     359       6,279  

Laureate Education, Inc., Class A

     816       8,845  

La-Z-Boy, Inc.

     328       9,571  

LCI Industries

     189       23,534  

Leggett & Platt, Inc.(c)

     997       36,969  

Leslie’s, Inc.(b)(c)

     920       19,605  

Levi Strauss & Co., Class A

     650       14,722  

LGI Homes, Inc.(b)(c)

     166       20,938  

Lindblad Expeditions Holdings, Inc.(b)(c)

     225       3,989  

Liquidity Services, Inc.(b)

     213       3,670  

Lithia Motors, Inc., Class A

     229       78,048  

LL Flooring Holdings, Inc.(b)

     217       3,485  

Lordstown Motors Corp., Class A(b)(c)

     861       2,213  

Lovesac Co. (The)(b)(c)

     100       4,249  

Luminar Technologies, Inc.(b)(c)

     1,298       18,211  

M.D.C. Holdings, Inc.

     423       18,756  

M/I Homes, Inc.(b)

     219       10,795  

Macy’s, Inc.

     2,242       58,113  

Malibu Boats, Inc., Class A(b)(c)

     156       10,869  

MarineMax, Inc.(b)

     163       7,459  

Marriott Vacations Worldwide Corp.

     308       49,486  

Mattel, Inc.(b)

     2,655       66,322  

Membership Collective Group, Inc., Class A (United Kingdom)(b)(c)

     234       1,916  

Meritage Homes Corp.(b)

     282       27,800  

Mister Car Wash, Inc.(b)

     444       7,113  

Modine Manufacturing Co.(b)

     387       3,909  

Monarch Casino & Resort, Inc.(b)

     104       8,102  

Monro, Inc.

     252       11,763  

Movado Group, Inc.

     117       4,612  

Murphy USA, Inc.

     183       33,075  

National Vision Holdings, Inc.(b)

     612       22,442  

Nordstrom, Inc.(b)(c)

     833       17,276  

Norwegian Cruise Line Holdings Ltd.(b)(c)

     3,110       60,614  

ODP Corp. (The)(b)

     400       17,600  

Ollie’s Bargain Outlet Holdings, Inc.(b)(c)

     440       18,999  

 

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

 

    11    

 

 

 

 


 

Invesco PureBetaSM MSCI USA Small Cap ETF (PBSM)–(continued)

February 28, 2022

(Unaudited)

 

         Shares       Value  

Consumer Discretionary-(continued)

    

OneSpaWorld Holdings Ltd. (Bahamas)(b)(c)

     493       $          5,098  

Overstock.com, Inc.(b)

     322       18,322  

Oxford Industries, Inc.

     127       11,226  

Papa John’s International, Inc.

     259       27,666  

Party City Holdco, Inc.(b)

     797       3,451  

Patrick Industries, Inc.

     169       12,056  

Penn National Gaming, Inc.(b)

     1,264       64,906  

Penske Automotive Group, Inc.

     241       23,688  

Perdoceo Education Corp.(b)

     525       5,497  

Petco Health & Wellness Co., Inc.(b)(c)

     679       11,896  

PetMed Express, Inc.(c)

     152       4,096  

Planet Fitness, Inc., Class A(b)

     624       52,809  

Playa Hotels & Resorts N.V.(b)

     861       8,136  

PLBY Group, Inc.(b)(c)

     133       2,117  

Polaris, Inc.

     431       52,371  

Porch Group, Inc.(b)(c)

     615       4,982  

Poshmark, Inc., Class A(b)(c)

     212       3,163  

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

     356       5,607  

Purple Innovation, Inc.(b)(c)

     451       2,715  

PVH Corp.

     533       52,175  

Quotient Technology, Inc.(b)(c)

     599       3,977  

Qurate Retail, Inc., Class A

     2,986       16,453  

Ralph Lauren Corp.(c)

     365       48,195  

RealReal, Inc. (The)(b)(c)

     582       5,186  

Red Rock Resorts, Inc., Class A

     474       23,833  

Rent-A-Center, Inc.(c)

     452       12,841  

Revolve Group, Inc.(b)

     285       13,518  

RH(b)(c)

     124       49,832  

Rover Group, Inc.(b)(c)

     588       3,357  

Rush Street Interactive, Inc.(b)

     399       4,122  

Ruth’s Hospitality Group, Inc.

     248       6,153  

Sally Beauty Holdings, Inc.(b)(c)

     845       14,602  

Scientific Games Corp.(b)

     681       42,849  

SeaWorld Entertainment, Inc.(b)

     385       26,715  

Service Corp. International

     1,233       75,028  

Shake Shack, Inc., Class A(b)(c)

     279       20,847  

Shoe Carnival, Inc.

     134       3,907  

Shutterstock, Inc.

     174       15,752  

Signet Jewelers Ltd.

     394       27,777  

Six Flags Entertainment Corp.(b)

     546       23,838  

Skechers U.S.A., Inc., Class A(b)

     1,009       46,394  

Skyline Champion Corp.(b)

     382       25,686  

Sleep Number Corp.(b)(c)

     173       11,366  

Smith & Wesson Brands, Inc.

     360       6,347  

Snap One Holdings Corp.(b)

     113       2,219  

Sonic Automotive, Inc., Class A

     167       8,970  

Sonos, Inc.(b)(c)

     942       25,801  

Sportsman’s Warehouse Holdings, Inc.(b)

     329       3,754  

Standard Motor Products, Inc.

     149       6,513  

Steven Madden Ltd.

     613       26,151  

Stitch Fix, Inc., Class A(b)

     511       6,413  

Stoneridge, Inc.(b)(c)

     204       3,368  

Strategic Education, Inc.

     179       10,565  

Stride, Inc.(b)

     311       10,443  

Sturm Ruger & Co., Inc.