N-CSRS



		Invesco Semi-Annual Report to Shareholders
		October 31, 2021
		PPA		Invesco Aerospace & Defense ETF

		PDP		Invesco DWA Momentum ETF

		PSP		Invesco Global Listed Private Equity ETF

		PGJ		Invesco Golden Dragon China ETF

		ERTH		Invesco MSCI Sustainable Future ETF

		RYJ		Invesco Raymond James SB-1 Equity ETF

		PBP		Invesco S&P 500 BuyWrite ETF

		SPHQ		Invesco S&P 500^® Quality ETF

		CSD		Invesco S&P Spin-Off ETF

		PHO		Invesco Water Resources ETF

		PBW		Invesco WilderHill Clean Energy ETF

Table of Contents



Schedules of Investments

Invesco Aerospace & Defense ETF (PPA)			3

Invesco DWA Momentum ETF (PDP)			5

Invesco Global Listed Private Equity ETF (PSP)			8

Invesco Golden Dragon China ETF (PGJ)			11

Invesco MSCI Sustainable Future ETF (ERTH)			14

Invesco Raymond James SB-1 Equity ETF (RYJ)			18

Invesco S&P 500 BuyWrite ETF (PBP)			21

Invesco S&P 500^® Quality ETF (SPHQ)			27

Invesco S&P Spin-Off ETF (CSD)			30

Invesco Water Resources ETF (PHO)			32

Invesco WilderHill Clean Energy ETF (PBW)			34

Statements of Assets and Liabilities			38

Statements of Operations			40

Statements of Changes in Net Assets			42

Financial Highlights			46

Notes to Financial Statements			57

Fund Expenses			73

Invesco Aerospace & Defense ETF (PPA)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.02%
Aerospace & Defense-73.70%
AAR Corp.^(b)		81,275	$	2,874,697
Aerojet Rocketdyne Holdings, Inc.^(c)		176,587		7,771,594
AeroVironment, Inc.^(b)(c)		50,591		4,508,164
Axon Enterprise, Inc.^(b)		150,456		27,076,062
Boeing Co. (The)^(b)		192,336		39,819,322
BWX Technologies, Inc.		171,641		9,738,910
CAE, Inc. (Canada)^(b)(c)		695,193		21,113,011
Curtiss-Wright Corp.		59,947		7,654,033
Ducommun, Inc.^(b)		25,942		1,255,333
Elbit Systems Ltd. (Israel)^(c)		97,216		15,438,873
General Dynamics Corp.		170,325		34,533,394
HEICO Corp.^(c)		107,736		15,017,321
Hexcel Corp.^(b)(c)		163,275		9,264,224
Howmet Aerospace, Inc.		569,909		16,920,598
Huntington Ingalls Industries, Inc.		86,027		17,440,254
Kaman Corp.		49,745		1,780,374
Kratos Defense & Security Solutions, Inc.^(b)		283,979		6,074,311
L3Harris Technologies, Inc.		147,642		34,037,387
Lockheed Martin Corp.		122,126		40,584,912
Maxar Technologies, Inc.		166,611		4,423,522
Mercury Systems, Inc.^(b)		127,035		6,547,384
Moog, Inc., Class A		46,276		3,495,226
Northrop Grumman Corp.		119,743		42,774,594
PAE, Inc.^(b)		194,024		1,924,718
Parsons Corp.^(b)(c)		114,568		3,968,636
RADA Electronic Industries Ltd. (Israel)^(b)		112,837		1,154,323
Raytheon Technologies Corp.		489,427		43,490,483
Spirit AeroSystems Holdings, Inc., Class A^(c)		241,529		9,972,732
Teledyne Technologies, Inc.^(b)		23,288		10,461,435
Textron, Inc.		374,842		27,682,082
TransDigm Group, Inc.^(b)		47,482		29,620,221
Triumph Group, Inc.^(b)		145,034		2,965,945
Vectrus, Inc.^(b)		26,860		1,300,830

				502,684,905

Communications Equipment-1.10%
Comtech Telecommunications Corp.		59,723		1,288,225
ViaSat, Inc.^(b)(c)		103,782		6,194,748

				7,482,973

Containers & Packaging-1.56%
Ball Corp.		116,083		10,619,273

Diversified Telecommunication Services-0.38%
Iridium Communications, Inc.^(b)		64,235		2,604,729

Electronic Equipment, Instruments & Components-1.61%
Keysight Technologies, Inc.^(b)		46,417		8,355,988
OSI Systems, Inc.^(b)		27,911		2,598,793

				10,954,781

Industrial Conglomerates-5.32%
Honeywell International, Inc.		165,940		36,277,803



	Shares		Value
Machinery-2.68%
Oshkosh Corp.		74,111	$	7,929,877
Woodward, Inc.		91,913		10,381,573

				18,311,450

Metals & Mining-0.46%
Allegheny Technologies, Inc.^(b)(c)		197,285		3,176,289

Professional Services-12.00%
Booz Allen Hamilton Holding Corp		229,924		19,971,199
CACI International, Inc., Class A^(b)		37,397		10,756,873
Jacobs Engineering Group, Inc.		79,334		11,140,080
KBR, Inc.^(c)		190,287		8,075,780
Leidos Holdings, Inc.		210,316		21,027,394
ManTech International Corp., Class A		61,766		5,325,465
Science Applications International Corp.		61,981		5,564,654

				81,861,445

Software-1.21%
Mandiant, Inc.^(b)		136,995		2,389,193
Palantir Technologies, Inc., Class A^(b)(c)		76,188		1,971,746
Telos Corp.^(b)		149,873		3,883,209

				8,244,148

Total Common Stocks & Other Equity Interests (Cost $599,269,076)				682,217,796


Money Market Funds-0.08%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%^(d)(e)(Cost $536,729)		536,729		536,729

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.10% (Cost $599,805,805)				682,754,525


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-7.04%
Invesco Private Government Fund, 0.02%^(d)(e)(f)		14,397,127		14,397,127
Invesco Private Prime Fund, 0.11%^(d)(e)(f)		33,579,866		33,593,298

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $47,990,425)				47,990,425


TOTAL INVESTMENTS IN SECURITIES-107.14% (Cost $647,796,230)				730,744,950
OTHER ASSETS LESS LIABILITIES-(7.14)%				(48,702,113	)

NET ASSETS-100.00%			$	682,042,837

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



		3
		3

Invesco Aerospace & Defense ETF (PPA)—(continued)

October 31, 2021

(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 October 31, 2021.

^(d)

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2021.



	Value April 30, 2021			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain			Value October 31, 2021			Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	159,537	$	17,112,361	$	(16,735,169	)		$	-		$	-		$	536,729	$	119

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			7,903,102		48,268,790		(41,774,765	)			-			-			14,397,127		761	*

Invesco Private Prime Fund			11,854,653		101,158,713		(79,420,068	)			-			-			33,593,298		10,840	*


Total		$	19,917,292	$	166,539,864	$	(137,930,002	)		$	-		$	-		$	48,527,154	$	11,720

*	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 October 31, 2021.

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

Portfolio Composition

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

as of October 31, 2021



Aerospace & Defense	73.70

Professional Services	12.00

Industrial Conglomerates	5.32

Industry Types Each Less Than 3%	9.00

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.



		4
		4

Invesco DWA Momentum ETF (PDP)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.03%
Communication Services-1.44%
Alphabet, Inc., Class A^(b)		3,536	$	10,469,813
Iridium Communications, Inc.^(b)(c)		212,094		8,600,412
Snap, Inc., Class A^(b)(c)		152,502		8,018,555

				27,088,780

Consumer Discretionary-14.75%
Carvana Co.^(b)(c)		43,781		13,273,524
Chipotle Mexican Grill, Inc.^(b)		5,696		10,133,355
Crocs, Inc.^(b)		139,565		22,532,769
Dick’s Sporting Goods, Inc.^(c)		78,232		9,717,197
Domino’s Pizza, Inc.		98,227		48,030,056
Etsy, Inc.^(b)(c)		44,244		11,091,528
GameStop Corp., Class A^(b)(c)		53,317		9,784,203
Home Depot, Inc. (The)		31,665		11,771,147
MGM Resorts International		224,253		10,575,771
NIKE, Inc., Class B		247,944		41,478,552
Pool Corp.		50,191		25,856,396
RH^(b)^(c)		18,407		12,141,809
Scientific Games Corp.^(b)		400,302		32,044,175
Tempur Sealy International, Inc.		212,490		9,449,430
YETI Holdings, Inc.^(b)(c)		96,569		9,495,630

				277,375,542

Consumer Staples-3.82%
Celsius Holdings, Inc.^(b)(c)		480,970		46,423,224
Costco Wholesale Corp.		24,995		12,286,042
Estee Lauder Cos., Inc. (The), Class A		40,811		13,236,232

				71,945,498

Energy-0.65%
Ovintiv, Inc.		326,149		12,237,111

Financials-3.49%
Blackstone, Inc., Class A		74,363		10,293,327
Moody’s Corp.		29,904		12,085,702
MSCI, Inc.		49,800		33,111,024
Upstart Holdings, Inc.^(b)		31,636		10,188,057

				65,678,110

Health Care-24.39%
Apollo Medical Holdings, Inc.^(b)(c)		137,718		9,451,586
Bio-Rad Laboratories, Inc., Class A^(b)		11,918		9,470,996
Catalent, Inc.^(b)		67,481		9,302,931
Charles River Laboratories International, Inc.^(b)		24,359		10,929,396
Danaher Corp.		113,477		35,378,724
DexCom, Inc.^(b)		36,868		22,976,506
Edwards Lifesciences Corp.^(b)		114,638		13,735,925
Horizon Therapeutics PLC^(b)		143,750		17,237,062
IDEXX Laboratories, Inc.^(b)		41,491		27,638,815
Inspire Medical Systems, Inc.^(b)		65,142		17,560,980
Intuitive Surgical, Inc.^(b)		27,969		10,100,445
Masimo Corp.^(b)(c)		54,522		15,459,168
Medpace Holdings, Inc.^(b)		58,347		13,218,513
Mettler-Toledo International, Inc.^(b)		21,492		31,827,073
Mirati Therapeutics, Inc.^(b)		286,988		54,246,472
Natera, Inc.^(b)(c)		80,787		9,255,767
NeoGenomics, Inc.^(b)(c)		208,463		9,589,298
Repligen Corp.^(b)		45,830		13,313,615



	Shares		Value
Health Care-(continued)
Shockwave Medical, Inc.^(b)		56,763	$	12,130,253
STAAR Surgical Co.^(b)(c)		252,669		29,931,170
Thermo Fisher Scientific, Inc.		16,228		10,273,460
Veeva Systems, Inc., Class A^(b)		61,873		19,614,360
Waters Corp.^(b)		29,852		10,972,103
West Pharmaceutical Services, Inc.		105,291		45,262,495

				458,877,113

Industrials-12.53%
Advanced Drainage Systems, Inc.		87,240		9,840,672
AMERCO		16,745		12,340,898
Avis Budget Group, Inc.^(b)(c)		179,525		31,113,478
Axon Enterprise, Inc.^(b)		72,217		12,996,171
Chart Industries, Inc.^(b)(c)		88,317		15,678,034
Copart, Inc.^(b)		281,948		43,783,705
Equifax, Inc.		38,698		10,735,986
Generac Holdings, Inc.^(b)		46,107		22,987,106
Old Dominion Freight Line, Inc.		97,328		33,222,913
SiteOne Landscape Supply, Inc.^(b)		47,980		11,273,381
Toro Co. (The)		94,577		9,029,266
Trane Technologies PLC		63,767		11,537,363
WESCO International, Inc.^(b)		86,109		11,156,282

				235,695,255

Information Technology-34.07%
Accenture PLC, Class A		30,070		10,788,815
Adobe, Inc.^(b)		29,487		19,177,165
Advanced Micro Devices, Inc.^(b)		172,051		20,685,692
Amphenol Corp., Class A		410,715		31,530,591
Applied Materials, Inc.		72,994		9,974,630
Asana, Inc., Class A^(b)(c)		93,824		12,741,299
Bill.com Holdings, Inc.^(b)		46,884		13,798,430
CDW Corp.		51,925		9,691,801
Cloudflare, Inc., Class A^(b)(c)		114,671		22,328,737
Crowdstrike Holdings, Inc., Class A^(b)		38,621		10,883,398
DocuSign, Inc.^(b)		38,321		10,664,351
Entegris, Inc.		198,783		27,984,671
EPAM Systems, Inc.^(b)		39,560		26,633,374
Fortinet, Inc.^(b)		43,351		14,580,675
HubSpot, Inc.^(b)(c)		13,760		11,148,765
Intuit, Inc.		39,375		24,648,356
Keysight Technologies, Inc.^(b)		53,691		9,665,454
Lattice Semiconductor Corp.^(b)		311,652		21,641,115
Marvell Technology, Inc.		154,266		10,567,221
Microsoft Corp.		32,355		10,729,565
Monolithic Power Systems, Inc.		69,726		36,638,224
NVIDIA Corp.		212,845		54,418,081
ON Semiconductor Corp.^(b)		193,128		9,283,663
Paycom Software, Inc.^(b)		85,611		46,901,986
Paylocity Holding Corp.^(b)		80,687		24,620,831
ServiceNow, Inc.^(b)		38,151		26,620,242
Square, Inc., Class A^(b)(c)		37,568		9,561,056
Synaptics, Inc.^(b)(c)		56,393		10,972,386
Synopsys, Inc.^(b)		40,717		13,566,090
Teledyne Technologies, Inc.^(b)		63,216		28,397,892
Workiva, Inc.^(b)(c)		103,850		15,530,768

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



		5
		5

Invesco DWA Momentum ETF (PDP)—(continued)

October 31, 2021

(Unaudited)



	Shares		Value
Information Technology-(continued)
Zebra Technologies Corp., Class A^(b)		24,955	$	13,324,722
Zscaler, Inc.^(b)		66,402		21,172,942

				640,872,988

Materials-0.58%
Alcoa Corp.		237,973		10,934,859

Real Estate-4.31%
American Tower Corp.		182,466		51,449,938
Equity LifeStyle Properties, Inc.		145,141		12,265,866
Extra Space Storage, Inc.		88,120		17,392,244

				81,108,048

Total Common Stocks & Other Equity Interests (Cost $1,643,983,692)				1,881,813,304


Money Market Funds-0.02%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%^(d)(e)(Cost $252,422)		252,422		252,422

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.05% (Cost $1,644,236,114)				1,882,065,726



	Shares		Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-6.66%
Invesco Private Government Fund, 0.02%^(d)(e)(f)		37,588,078	$	37,588,078
Invesco Private Prime Fund, 0.11%^(d)(e)(f)		87,670,446		87,705,515

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $125,293,592)				125,293,593

TOTAL INVESTMENTS IN SECURITIES-106.71% (Cost $1,769,529,706)				2,007,359,319
OTHER ASSETS LESS LIABILITIES-(6.71)%				(126,166,675	)

NET ASSETS-100.00%			$	1,881,192,644

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, 2021.

^(d)



	Value April 30, 2021			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain			Value October 31, 2021			Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	701,168	$	5,978,057	$	(6,426,803	)		$	-		$	-		$	252,422		$	93

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			57,906,299		251,573,045		(271,891,266	)			-			-			37,588,078			2,877	*

Invesco Private Prime Fund			86,859,449		438,959,214		(438,113,148	)			-			-			87,705,515			43,856	*

Total		$	145,466,916	$	696,510,316	$	(716,431,217	)		$	-		$	-		$	125,546,015		$	46,826

*	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 October 31, 2021.

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

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



		6
		6

Invesco DWA Momentum ETF (PDP)—(continued)

October 31, 2021

(Unaudited)

Portfolio Composition

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

as of October 31, 2021



Information Technology	34.07

Health Care	24.39

Consumer Discretionary	14.75

Industrials	12.53

Real Estate	4.31

Consumer Staples	3.82

Financials	3.49

Sector Types Each Less Than 3%	2.67

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.



		7
		7

Invesco Global Listed Private Equity ETF (PSP)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-90.46%
Biotechnology-0.50%
PureTech Health PLC^(b)		283,360	$	1,374,993

Capital Markets-56.17%
3i Group PLC (United Kingdom)		660,714		12,353,400
Alaris Equity Partners Income (Canada)		45,358		678,421
Ares Capital Corp.^(c)		434,200		9,309,248
AURELIUS Equity Opportunities SE & Co. KGaA (Germany)		43,625		1,263,136
Blackstone, Inc., Class A		49,913		6,908,958
Blue Owl Capital, Inc.^(c)		470,605		8,113,230
Bridgepoint Group PLC (United
Kingdom)^(b)(d)		582,432		3,959,912
Bure Equity AB (Sweden)		28,566		1,324,443
Carlyle Group, Inc. (The)		230,793		12,959,027
Chrysalis Investments Ltd. (Guernsey)^(b)		542,671		1,867,106
Deutsche Beteiligungs AG (Germany)		15,469		716,060
Draper Esprit PLC (United Kingdom)^(b)		173,527		2,300,129
EQT AB (Sweden)		250,573		13,204,790
FS KKR Capital Corp.^(c)		293,367		6,442,339
Georgia Capital PLC (Georgia)^(b)		78,686		651,468
Gimv N.V. (Belgium)		20,369		1,317,677
Goldman Sachs BDC, Inc.		106,254		2,015,638
Golub Capital BDC, Inc.^(c)		129,118		2,050,394
Hamilton Lane, Inc., Class A^(c)		39,707		4,149,779
Hercules Capital, Inc.^(c)		120,786		2,134,289
Intermediate Capital Group PLC (United Kingdom)		195,824		5,881,213
IP Group PLC (United Kingdom)		1,026,995		1,697,752
JAFCO Group Co. Ltd. (Japan)		32,614		2,056,520
KKR & Co., Inc., Class A		109,955		8,760,115
Main Street Capital Corp.		65,355		2,863,856
Mutares SE & Co. KGaA (Germany)^(c)		23,519		634,165
New Mountain Finance Corp.		100,670		1,415,420
Oaktree Specialty Lending Corp.		185,040		1,363,745
Onex Corp. (Canada)		67,372		5,012,883
Owl Rock Capital Corp.^(c)		368,327		5,296,542
Partners Group Holding AG (Switzerland)		7,659		13,390,153
Patria Investments Ltd., Class A (Cayman Islands)		83,954		1,440,651
Prospect Capital Corp.^(c)		342,150		2,802,209
Ratos AB, Class B (Sweden)		203,166		1,168,113
Sixth Street Specialty Lending, Inc.^(c)		59,030		1,407,275
StepStone Group, Inc., Class A		70,138		3,295,083
SuRo Capital Corp.		54,137		776,325
Tamburi Investment Partners S.p.A. (Italy)		121,007		1,365,346
VNV Global AB (Sweden)^(b)		112,706		1,653,485

				156,000,295

Construction & Engineering-0.51%
Brookfield Business Partners L.P., Class U (Canada)		29,094		1,411,571

Diversified Consumer Services-0.95%
Graham Holdings Co., Class B		4,525		2,650,971

Diversified Financial Services-10.65%
Cannae Holdings, Inc.^(b)		104,619		3,567,508
Compass Diversified Holdings		86,543		2,583,309
Eurazeo SE (France)		59,483		5,579,218



	Shares		Value
Diversified Financial Services-(continued)
Kinnevik AB, Class B (Sweden)^(b)		186,127	$	7,295,762
Sofina S.A. (Belgium)		15,394		6,812,348
Wendel SE (France)		28,149		3,749,434

				29,587,579

Diversified Telecommunication Services-0.22%
ATN International, Inc.		14,796		603,381

Food Products-0.44%
Schouw & Co. A/S (Denmark)		12,592		1,226,223

Industrial Conglomerates-4.95%
Fosun International Ltd. (China)		3,019,746		3,551,935
Italmobiliare S.p.A. (Italy)		17,611		618,543
Melrose Industries PLC (United Kingdom)		4,421,021		9,562,869

				13,733,347

Interactive Media & Services-4.52%
IAC/InterActiveCorp.^(b)(c)		82,390		12,553,764

Internet & Direct Marketing Retail-4.70%
Prosus N.V. (China)^(b)		147,974		13,050,430

IT Services-0.50%
Digital Garage, Inc. (Japan)^(c)		29,903		1,389,922

Life Sciences Tools & Services-0.45%
Malin Corp. PLC (Ireland)^(b)		81,766		624,517
Medcap AB (Sweden)^(b)(c)		27,049		629,889

				1,254,406

Multiline Retail-4.90%
Wesfarmers Ltd. (Australia)		316,185		13,596,107

Trading Companies & Distributors-1.00%
Seven Group Holdings Ltd. (Australia)		172,513		2,789,740

Total Common Stocks & Other Equity Interests (Cost $198,439,005)				251,222,729


Closed-End Funds-3.68%
Apax Global Alpha Ltd.^(c)(d)		466,870		1,366,320
HBM Healthcare Investments AG, Class A^(c)		5,242		1,996,406
HgCapital Trust PLC^(c)		365,831		1,935,648
NB Private Equity Partners Ltd.		31,026		727,245
Oakley Capital Investments Ltd.		139,265		735,910
Princess Private Equity Holding Ltd.		84,482		1,339,406
Schroder UK Public Private^(b)(c)		1,551,308		720,869
Syncona Ltd.^(b)(c)		513,312		1,400,210

Total Closed-End Funds (Cost $7,329,639)				10,222,014


	Shares
Money Market Funds-5.64%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%^(e)(f)(Cost $15,660,084)		15,660,084		15,660,084

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-96.10% (Cost $214,099,089)				266,882,813

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



		8
		8

Invesco Global Listed Private Equity ETF (PSP)—(continued)

October 31, 2021

(Unaudited)



	Shares		Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-13.13%
Invesco Private Government Fund, 0.02%^(e)(f)(g)		10,946,278	$	10,946,278
Invesco Private Prime Fund, 0.11%^(e)(f)(g)		25,509,003		25,519,207

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $36,465,484)				36,465,485

TOTAL INVESTMENTS IN SECURITIES-112.91% (Cost $257,894,212)				313,570,312
OTHER ASSETS LESS LIABILITIES-(12.91)%				(35,858,421	)

NET ASSETS-100.00%			$	277,711,891

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, 2021.

^(d)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2021 was $5,326,232, which represented 1.92% of the Fund’s Net Assets.

^(e)



	Value April 30, 2021			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain			Value October 31, 2021			Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	9,775,371	$	27,057,432	$	(21,172,719	)		$	-		$	-		$	15,660,084		$	1,698

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			1,871,653		39,273,508		(30,198,883	)			-			-			10,946,278			422	*

Invesco Private Prime Fund			2,807,480		82,019,991		(59,308,265	)			1			-			25,519,207			5,835	*

Total		$	14,454,504	$	148,350,931	$	(110,679,867	)		$	1		$	-		$	52,125,569		$	7,955

*	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.

^(f)	The rate shown is the 7-day SEC standardized yield as of October 31, 2021.

^(g)	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.

This Fund has holdings greater than 10% of net assets in the following country:


United Kingdom			14.35	%

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



		9
		9

Invesco Global Listed Private Equity ETF (PSP)—(continued)

October 31, 2021

(Unaudited)



Open Over-The-Counter Total Return Swap Agreements^(a)


Counterparty	Pay/ Receive		Reference Entity	Rate		Payment Frequency		Maturity Date		Notional Value^(b)		Upfront Payments Paid (Received)			Value				Unrealized Appreciation (Depreciation)

Equity Risk

Citibank, N.A.		Receive	KKR & Co. LP		1-Day EFFR plus 55 basis points		Monthly		October-2022		$ 5,989,419		$	-		$	384,181			$	384,181

Citibank, N.A.		Receive	Brookfield Business Partners LP		1-Day CORRA plus 55 basis points		Monthly		October-2022		CAD 4,003,734			-			20,690				20,690

Subtotal – Appreciation														-			404,871				404,871


Equity Risk

Citibank, N.A.		Receive	The Blackstone Group LP		1-Day EFFR plus 55 basis points		Monthly		October-2022		6,281,299			-			(3,349	)			(3,349	)

Subtotal – Depreciation														-			(3,349	)			(3,349	)

Total Over-The-Counter Total Return Swap Agreements													$	-		$	401,522			$	401,522

Abbreviations:

CAD -Canadian Dollar

CORRA-Canadian Overnight Repo Rate Average

EFFR -Effective Federal Funds Rate

^(a)	The Fund receives or pays payments based on any positive or negative return on the Reference Entity, respectively.

^(b)	Notional Value is denominated in U.S. Dollars unless otherwise noted.


Portfolio Composition Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2021

Capital Markets			56.17

Diversified Financial Services			10.65

Industrial Conglomerates			4.95

Multiline Retail			4.90

Internet & Direct Marketing Retail			4.70

Interactive Media & Services			4.52

Closed-End Funds			3.68

Industry Types Each Less Than 3%			4.57

Money Market Funds Plus Other Assets Less Liabilities			5.86

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



		10
		10

Invesco Golden Dragon China ETF (PGJ)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.01%^(b)
Communication Services-23.31%
9F, Inc., ADR^(c)		44,389	$	66,583
Autohome, Inc., ADR		48,913		1,924,727
Baidu, Inc., ADR^(c)		129,185		20,958,974
Bilibili, Inc., ADR^(c)(d)		126,425		9,266,952
BlueCity Holdings Ltd., ADR^(c)(d)		20,877		57,621
Hello Group, Inc., ADR		117,199		1,459,128
iQIYI, Inc., ADR^(c)(d)		262,636		2,174,626
JOYY, Inc., ADR^(d)		41,193		2,075,715
Lizhi, Inc., ADR^(c)(d)		19,996		61,588
Luokung Technology Corp.^(c)(d)		273,663		336,605
NetEase, Inc., ADR		104,108		10,159,900
Qutoutiao, Inc., ADR^(c)(d)		103,053		102,053
Sohu.com Ltd., ADR^(c)		28,727		582,009
So-Young International, Inc., ADR^(c)(d)		47,105		186,065
Tencent Music Entertainment Group, ADR^(c)		476,353		3,744,135
Weibo Corp., ADR^(c)(d)		53,455		2,404,406
WiMi Hologram Cloud, Inc., ADR^(c)		40,082		197,203

				55,758,290

Consumer Discretionary-54.22%
Alibaba Group Holding Ltd., ADR^(c)		121,469		20,035,097
Baozun, Inc., ADR^(c)(d)		38,842		671,967
China Automotive Systems, Inc.^(c)		22,144		83,483
Dada Nexus Ltd., ADR^(c)(d)		58,236		1,182,773
Future FinTech Group, Inc.^(c)(d)		50,287		105,100
Huazhu Group Ltd., ADR^(c)(d)		111,888		5,187,128
JD.com, Inc., ADR^(c)		258,200		20,211,896
Kaixin Auto Holdings (Hong Kong)^(c)		102,980		221,407
Kandi Technologies Group, Inc.^(c)(d)		54,488		238,657
Li Auto, Inc., ADR^(c)(d)		295,342		9,637,009
MINISO Group Holding Ltd., ADR^(d)		57,642		865,206
Moxian BVI, Inc.^(c)		13,892		84,047
New Oriental Education & Technology Group, Inc., ADR^(c)		997,456		2,044,785
Newegg Commerce, Inc.^(c)(d)		264,207		3,117,643
NIO, Inc., ADR^(c)(d)		516,032		20,336,821
Niu Technologies, ADR^(c)(d)		35,449		928,055
Pinduoduo, Inc., ADR^(c)		202,821		18,034,843
TAL Education Group, ADR^(c)		303,315		1,240,558
Trip.com Group Ltd., ADR^(c)		332,660		9,500,769
Uxin Ltd., ADR^(c)		194,454		466,690
Viomi Technology Co. Ltd., ADR^(c)(d)		27,539		121,447
Vipshop Holdings Ltd., ADR^(c)		373,623		4,169,633
Wunong Net Technology Co. Ltd.^(c)		17,937		60,627
XPeng, Inc., ADR^(c)		238,616		11,126,664

				129,672,305

Consumer Staples-0.29%
111, Inc., ADR^(c)(d)		30,685		159,562
Jowell Global Ltd.^(c)		18,253		106,963
TDH Holdings, Inc.^(c)		46,836		80,090
Yatsen Holding Ltd., ADR^(c)		124,803		349,448

				696,063

Energy-0.30%
China Petroleum & Chemical Corp., ADR		8,596		418,453



	Shares		Value
Energy-(continued)
PetroChina Co. Ltd., ADR		6,094	$	294,097
Sino Clean Energy, Inc., Rts., expiring 07/31/2049^(c)(e)		26,179		0

				712,550

Financials-3.57%
360 DigiTech, Inc., ADR^(c)(d)		90,667		1,850,513
AGM Group Holdings, Inc.^(c)(d)		15,317		170,019
Bridgetown 2 Holdings Ltd., Class A (Hong Kong)^(c)(d)		21,469		216,408
China Life Insurance Co. Ltd., ADR		21,263		183,287
Fanhua, Inc., ADR^(d)		23,800		315,588
Huize Holding Ltd., ADR^(c)		21,954		44,567
LexinFintech Holdings Ltd., ADR^(c)(d)		100,974		539,201
Lufax Holding Ltd., ADR^(c)(d)		472,355		2,980,560
Noah Holdings Ltd., ADR^(c)(d)		23,228		987,422
Poema Global Holdings Corp., Class A^(c)		24,767		245,689
Qudian, Inc., ADR^(c)		143,723		240,017
Silver Crest Acquisition Corp., Class A (Hong Kong)^(c)		24,767		245,936
Up Fintech Holding Ltd., ADR^(c)(d)		78,127		505,482

				8,524,689

Health Care-3.38%
Adagene, Inc., ADR^(c)(d)		6,063		68,148
Burning Rock Biotech Ltd., ADR^(c)		31,778		447,752
Connect Biopharma Holdings Ltd., ADR^(c)(d)		9,280		146,995
Genetron Holdings Ltd., ADR^(c)		19,896		273,968
Gracell Biotechnologies, Inc., ADR^(c)		9,085		97,209
I-Mab, ADR^(c)(d)		30,096		1,859,632
Zai Lab Ltd., ADR^(c)		49,764		5,195,362

				8,089,066

Industrials-3.93%
CBAK Energy Technology, Inc.^(c)(d)		63,473		133,928
EHang Holdings Ltd., ADR^(c)(d)		22,195		535,565
NiSun International Enterprise Development Group Co. Ltd.^(c)(d)		14,744		176,781
Nuvve Holding Corp.^(c)(d)		13,377		163,066
ReneSola Ltd., ADR^(c)		32,817		291,743
ZTO Express Cayman, Inc., ADR^(d)		276,441		8,108,014

				9,409,097

Information Technology-8.45%
Agora, Inc., ADR^(c)(d)		46,261		1,008,490
Aurora Mobile Ltd., ADR^(c)(d)		36,617		53,827
Bit Digital, Inc.^(c)(d)		39,467		562,405
BIT Mining Ltd., ADR^(c)(d)		30,205		253,420
Canaan, Inc., ADR^(c)(d)		106,737		914,736
Canadian Solar, Inc. (Canada)^(c)(d)		43,072		1,789,642
Chindata Group Holdings Ltd., ADR^(c)(d)		77,230		769,211
Daqo New Energy Corp., ADR^(c)		41,836		3,254,422
Ebang International Holdings, Inc., A Shares^(c)(d)		99,918		216,822
GDS Holdings Ltd., ADR^(c)(d)		78,337		4,653,218
Hollysys Automation Technologies Ltd.		43,967		877,142
JinkoSolar Holding Co. Ltd., ADR^(c)(d)		28,600		1,710,852
Kingsoft Cloud Holdings Ltd., ADR^(c)(d)		69,037		1,585,780

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



		11
		11

Invesco Golden Dragon China ETF (PGJ)—(continued)

October 31, 2021

(Unaudited)



	Shares		Value
Information Technology-(continued)
OneConnect Financial Technology Co. Ltd., ADR^(c)(d)		91,033	$	288,575
SGOCO Group Ltd.^(c)(d)		72,921		442,630
SPI Energy Co. Ltd. (Australia)^(c)(d)		17,137		84,485
Vnet Group, Inc., ADR^(c)(d)		91,465		1,434,171
Xunlei Ltd., ADR^(c)		36,956		107,911
Zepp Health Corp., ADR^(c)		25,400		208,534

				20,216,273

Materials-0.05%
CN Energy Group, Inc.^(c)		14,437		123,436

Real Estate-2.51%
KE Holdings, Inc., ADR^(c)(d)		290,912		5,300,417
Nam Tai Property, Inc.^(c)(d)		28,132		693,735

				5,994,152

Total Common Stocks & Other Equity Interests (Cost $278,788,101)				239,195,921


Money Market Funds-0.11%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%^(f)(g)(Cost $273,639)		273,639		273,639

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.12% (Cost $279,061,740)				239,469,560



	Shares		Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-31.05%
Invesco Private Government Fund, 0.02%^(f)(g)(h)		22,278,469	$	22,278,469
Invesco Private Prime Fund, 0.11%^(f)(g)(h)		51,962,309		51,983,094

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $74,261,563)				74,261,563

TOTAL INVESTMENTS IN SECURITIES-131.17% (Cost $353,323,303)				313,731,123
OTHER ASSETS LESS LIABILITIES-(31.17)%				(74,553,999	)

NET ASSETS-100.00%			$	239,177,124

Investment Abbreviations:

ADR-American Depositary Receipt

Rts.-Rights

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)	Country of issuer and/or credit risk exposure listed in Common Stocks & Other Equity Interests has been determined to be China unless otherwise noted.

^(c)	Non-income producing security.

^(d)	All or a portion of this security was out on loan at October 31, 2021.

^(e)	Security valued using significant unobservable inputs (Level 3). See Note 5.

^(f)



	Value April 30, 2021		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)		Realized Gain		Value October 31, 2021		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class	$	443,239	$	1,160,880		$ (1,330,480	)		$ -		$-		$ 273,639	$	52

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



		12
		12

Invesco Golden Dragon China ETF (PGJ)—(continued)

October 31, 2021

(Unaudited)



	Value April 30, 2021			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)				Realized Gain			Value October 31, 2021			Dividend Income
Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	27,005,098	$	102,815,778	$	(107,542,407	)		$	-			$	-		$	22,278,469		$	1,519	*
Invesco Private Prime Fund			40,595,848		178,860,690		(167,473,443	)			(1	)			-			51,983,094			22,285	*

Total		$	68,044,185	$	282,837,348	$	(276,346,330	)		$	(1	)		$	-		$	74,535,202		$	23,856

*	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.

^(g)	The rate shown is the 7-day SEC standardized yield as of October 31, 2021.

^(h)	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 October 31, 2021



Consumer Discretionary	54.22

Communication Services	23.31

Information Technology	8.45

Industrials	3.93

Financials	3.57

Health Care	3.38

Sector Types Each Less Than 3%	3.15

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.



		13
		13

Invesco MSCI Sustainable Future ETF (ERTH)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-98.89%
Auto Components-0.19%
Tianneng Power International Ltd. (China)^(b)		491,842	$	562,084
XL Fleet Corp.^(b)(c)		50,528		276,893

				838,977

Automobiles-18.54%
Li Auto, Inc., ADR (China)^(b)(c)		392,501		12,807,308
NIO, Inc., ADR (China)^(b)(c)		545,836		21,511,397
Niu Technologies, ADR (China)^(b)(c)		21,994		575,803
Tesla, Inc.^(c)		29,413		32,766,082
Workhorse Group, Inc.^(b)(c)		80,578		542,290
XPeng, Inc., ADR (China)^(b)(c)		279,318		13,024,598
Yadea Group Holdings Ltd. (China)^(b)(d)		869,853		1,498,387

				82,725,865

Building Products-4.51%
Advanced Drainage Systems, Inc.		39,001		4,399,313
Kingspan Group PLC (Ireland)		112,076		12,923,311
Rockwool International A/S, Class B (Denmark)		6,081		2,781,140

				20,103,764

Chemicals-1.84%
Umicore S.A. (Belgium)		143,180		8,215,166

Commercial Services & Supplies-0.91%
China Everbright Environment Group Ltd. (China)		2,678,181		1,841,905
Covanta Holding Corp.		86,928		1,754,207
Dynagreen Environmental Protection Group Co. Ltd., H Shares (China)^(d)		294,095		150,468
Sunny Friend Environmental Technology Co. Ltd. (Taiwan)		45,000		322,833

				4,069,413

Construction & Engineering-1.29%
China Conch Venture Holdings Ltd. (China)^(b)		1,180,286		5,765,597

Electrical Equipment-17.03%
Alfen Beheer B.V. (Netherlands)^(b)(c)(d)		15,009		1,690,021
Blink Charging Co.^(b)(c)		27,447		872,815
China High Speed Transmission Equipment Group Co. Ltd. (Hong Kong)^(c)		297,650		231,109
Contemporary Amperex Technology Co. Ltd., A Shares (China)		101,500		10,138,739
CS Wind Corp. (South Korea)		18,379		1,091,526
Fagerhult AB (Sweden)		57,918		464,639
Ming Yang Smart Energy Group Ltd., A Shares (China)		85,100		412,115
Nordex SE (Germany)^(c)		75,552		1,390,178
Plug Power, Inc.^(b)(c)		371,523		14,218,185
PNE AG (Germany)		25,039		241,953
Shoals Technologies Group, Inc., Class A^(c)		64,550		2,000,404
Siemens Gamesa Renewable Energy S.A.,
Class R (Spain)^(b)(c)		173,164		4,695,235
SIF Holding N.V. (Netherlands)^(b)		9,262		151,130
Signify N.V. (Netherlands)		93,224		4,514,926
Sungrow Power Supply Co. Ltd., A Shares (China)		63,500		1,628,358
Sunrun, Inc.^(c)		125,908		7,262,373
TPI Composites, Inc.^(b)(c)		26,666		896,778



	Shares		Value
Electrical Equipment-(continued)
Unison Co. Ltd. (South Korea)^(c)		79,580	$	234,950
Vestas Wind Systems A/S (Denmark)		507,233		21,959,437
Xinjiang Goldwind Science & Technology Co. Ltd., A Shares (China)		150,500		435,792
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares (China)^(b)		562,128		1,260,245
Zumtobel Group AG (Austria)		20,539		211,542

				76,002,450

Electronic Equipment, Instruments & Components-0.58%
Badger Meter, Inc.		21,192		2,166,882
Wuxi Lead Intelligent Equipment Co. Ltd. (China)		34,020		431,889

				2,598,771

Equity REITs-14.63%
Brandywine Realty Trust		124,105		1,644,391
CapitaLand Integrated Commercial Trust (Singapore)		3,292,810		5,249,938
Covivio (France)		37,784		3,270,672
CRE Logistics REIT, Inc. (Japan)		345		670,182
Digital Realty Trust, Inc.		121,598		19,189,380
Douglas Emmett, Inc.		127,456		4,165,262
First Capital REIT (Canada)		78,094		1,113,874
Fukuoka REIT Corp. (Japan)		462		685,150
Inmobiliaria Colonial SOCIMI S.A. (Spain)		202,991		1,975,605
Keppel REIT (Singapore)		1,333,152		1,117,139
Klepierre S.A. (France)^(c)		149,916		3,566,963
Lar Espana Real Estate SOCIMI S.A. (Spain)		41,375		251,855
Mapletree Commercial Trust (Singapore)		1,567,617		2,534,227
Mapletree North Asia Commercial Trust (Hong Kong)^(d)		1,627,824		1,231,280
Mercialys S.A. (France)		51,147		554,905
Merlin Properties SOCIMI S.A. (Spain)^(b)		255,916		2,774,417
Mori Hills REIT Investment Corp. (Japan)		1,113		1,507,101
Nippon Prologis REIT, Inc. (Japan)		1,501		5,008,818
OUE Commercial REIT (Singapore)		1,578,599		526,785
Paramount Group, Inc.		127,230		1,078,910
Piedmont Office Realty Trust, Inc., Class A		90,089		1,599,981
SPH REIT (Singapore)		707,290		511,389
Vornado Realty Trust		118,212		5,039,378

				65,267,602

Food Products-2.46%
Darling Ingredients, Inc.^(c)		118,522		10,017,479
Grieg Seafood ASA (Norway)^(b)(c)		37,082		411,399
SLC Agricola S.A. (Brazil)		69,200		534,990

				10,963,868

Household Durables-1.21%
KB Home		60,165		2,415,625
Meritage Homes Corp.^(c)		27,490		2,988,438

				5,404,063

Independent Power and Renewable Electricity Producers-7.73%
Albioma S.A. (France)		18,387		723,465
BCPG PCL, NVDR (Thailand)		576,491		227,591
Beijing Energy International Holding Co. Ltd. (Hong Kong)^(b)(c)		4,888,357		185,378
Boralex, Inc., Class A (Canada)		63,358		1,957,655

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



		14
		14

Invesco MSCI Sustainable Future ETF (ERTH)—(continued)

October 31, 2021

(Unaudited)



	Shares		Value
Independent Power and Renewable Electricity Producers-(continued)
Canvest Environmental Protection Group Co. Ltd. (Hong Kong)^(d)		354,307	$	203,592
China Datang Corp. Renewable Power Co. Ltd., H Shares (China)^(b)		1,635,860		696,061
China Everbright Greentech Ltd. (China)^(b)(d)		450,013		158,507
Concord New Energy Group Ltd. (Hong Kong)		3,942,399		415,574
EDP Renovaveis S.A. (Spain)		209,313		5,837,686
Encavis AG (Germany)		70,389		1,474,385
Energix-Renewable Energies Ltd. (Israel)		159,127		748,542
Enlight Renewable Energy Ltd. (Israel)^(c)		666,602		1,647,052
eRex Co. Ltd. (Japan)^(b)		19,306		440,893
Falck Renewables S.p.A. (Italy)^(b)		84,669		853,924
Neoen S.A. (France)^(b)(c)(d)		27,202		1,252,885
NextEra Energy Partners L.P.^(b)		55,125		4,757,288
Omega Geracao S.A. (Brazil)^(c)		92,800		538,823
Ormat Technologies, Inc.^(b)		32,533		2,353,112
RENOVA, Inc. (Japan)^(c)		25,549		1,120,325
Scatec ASA (South Africa)^(d)		86,544		1,699,308
Solaria Energia y Medio Ambiente S.A. (Spain)^(c)		54,455		1,088,322
Solarpack Corp. Tecnologica S.A. (Spain)^(c)		10,870		332,723
SPCG PCL, NVDR (Thailand)		349,802		187,643
Sunnova Energy International, Inc.^(b)(c)		60,999		2,718,115
Super Energy Corp. PCL, NVDR (Thailand)		11,884,645		347,415
Terna Energy S.A. (Greece)		33,662		455,778
TransAlta Renewables, Inc. (Canada)^(b)		77,547		1,146,110
West Holdings Corp. (Japan)^(b)		16,693		928,162

				34,496,314

IT Services-0.75%
Chindata Group Holdings Ltd., ADR (China)^(b)(c)		63,266		630,129
Kingsoft Cloud Holdings Ltd., ADR (China)^(b)(c)		40,554		931,526
Switch, Inc., Class A		71,326		1,803,121

				3,364,776

Machinery-2.37%
Alstom S.A. (France)		229,614		8,178,891
Energy Recovery, Inc.^(c)		27,159		551,871
Riyue Heavy Industry Co. Ltd., A Shares (China)		42,200		256,591
Stadler Rail AG (Switzerland)^(b)		36,318		1,597,793

				10,585,146

Metals & Mining-0.53%
Schnitzer Steel Industries, Inc., Class A		18,814		1,012,193
Sims Ltd.		124,380		1,334,998

				2,347,191

Oil, Gas & Consumable Fuels-0.86%
Renewable Energy Group, Inc.^(b)(c)		34,620		2,215,680
REX American Resources Corp.^(c)		3,918		344,588
VERBIO Vereinigte BioEnergie AG (Germany)		16,017		1,271,548

				3,831,816

Paper & Forest Products-2.59%
Canfor Corp. (Canada)^(c)		45,477		940,688
Mercer International, Inc. (Germany)		31,156		335,550



	Shares		Value
Paper & Forest Products-(continued)
Suzano S.A. (Brazil)^(c)		543,900	$	4,750,079
West Fraser Timber Co. Ltd. (Canada)		69,389		5,546,978

				11,573,295

Real Estate Management & Development-0.83%
Deutsche EuroShop AG (Germany)		35,901		729,971
Platzer Fastigheter Holding AB, Class B (Sweden)		43,553		709,952
Swire Properties Ltd. (Hong Kong)		849,848		2,277,827

				3,717,750

Road & Rail-5.53%
Beijing-Shanghai High Speed Railway Co. Ltd., A Shares (China)		1,783,500		1,282,031
BTS Group Holdings PCL, NVDR (Thailand)		5,746,807		1,653,944
BTS Group Holdings PCL, Wts., expiring 09/05/2022 (Thailand)^(c)		314,107		13,537
BTS Group Holdings PCL, Wts., expiring 11/07/2024 (Thailand)^(c)		628,214		20,742
BTS Group Holdings PCL, Wts., expiring 11/20/2026 (Thailand)^(c)		1,256,428		33,907
Central Japan Railway Co. (Japan)		104,826		15,536,588
MTR Corp. Ltd. (Hong Kong)		1,123,034		6,121,138

				24,661,887

Semiconductors & Semiconductor Equipment-13.78%
Duk San Neolux Co. Ltd. (South Korea)^(c)		7,849		363,383
Enphase Energy, Inc.^(c)		93,639		21,689,601
First Solar, Inc.^(c)		69,499		8,311,385
GCL System Integration Technology Co. Ltd., A Shares (China)^(c)		255,200		160,714
JA Solar Technology Co. Ltd., A Shares (China)		69,500		991,026
JinkoSolar Holding Co. Ltd., ADR (China)^(b)(c)		27,228		1,628,779
LONGi Green Energy Technology Co. Ltd., A Shares (China)		235,980		3,602,407
Motech Industries, Inc. (Taiwan)		245,000		282,809
SMA Solar Technology AG (Germany)		7,562		399,577
SolarEdge Technologies, Inc.^(c)		37,754		13,390,589
SunPower Corp.^(b)(c)		62,657		2,109,035
TSEC Corp. (Taiwan)^(c)		276,000		330,503
United Renewable Energy Co. Ltd. (Taiwan)^(c)		991,075		851,779
Xinyi Solar Holdings Ltd. (China)^(b)		3,521,432		7,369,655

				61,481,242

Software-0.08%
CM.com N.V. (Netherlands)^(c)(d)		8,362		333,370

Transportation Infrastructure-0.34%
Taiwan High Speed Rail Corp. (Taiwan)		1,431,000		1,494,886

Water Utilities-0.31%
Beijing Enterprises Water Group Ltd. (China)		3,277,068		1,251,167
China Everbright Water Ltd. (China)		623,379		147,928

				1,399,095

Total Common Stocks & Other Equity Interests (Cost $357,722,523)				441,242,304

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



		15
		15

Invesco MSCI Sustainable Future ETF (ERTH)—(continued)

October 31, 2021

(Unaudited)



	Shares		Value
Exchange-Traded Funds-1.14%
iShares MSCI India ETF (Cost $4,466,713)		104,398	$	5,098,798


TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.03% (Cost $362,189,236)				446,341,102


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-20.91%
Invesco Private Government Fund, 0.02%^(e)(f)(g)		27,998,742		27,998,742



	Shares		Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 0.11%^(e)(f)(g)		65,304,275	$	65,330,397

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $93,329,138)				93,329,139

TOTAL INVESTMENTS IN SECURITIES-120.94% (Cost $455,518,374)				539,670,241
OTHER ASSETS LESS LIABILITIES-(20.94)%				(93,452,699	)

NET ASSETS-100.00%			$	446,217,542

Investment Abbreviations:

ADR -American Depositary Receipt

ETF -Exchange-Traded Fund

NVDR -Non-Voting Depositary Receipt

REIT -Real Estate Investment Trust

Wts. -Warrants

Notes to Schedule of Investments:

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

^(b)	All or a portion of this security was out on loan at October 31, 2021.

^(c)	Non-income producing security.

^(d)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2021 was $8,217,818, which represented 1.84% of the Fund’s Net Assets.

^(e)



	Value April 30, 2021			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain			Value October 31, 2021			Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	-	$	66,284,761	$	(66,284,761	)		$	-		$	-		$	-		$	364

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			31,055,288		136,921,039		(139,977,585	)			-			-			27,998,742			1,581	*

Invesco Private Prime Fund			46,582,932		207,434,310		(188,686,846	)			1			-			65,330,397			23,457	*


Total		$	77,638,220	$	410,640,110	$	(394,949,192	)		$	1		$	-		$	93,329,139		$	25,402

*	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.

^(f)	The rate shown is the 7-day SEC standardized yield as of October 31, 2021.

^(g)	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.

This Fund has holdings greater than 10% of net assets in the following country:


China			20.43	%

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



		16
		16

Invesco MSCI Sustainable Future ETF (ERTH)—(continued)

October 31, 2021

(Unaudited)


Portfolio Composition Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2021

Automobiles	18.54

Electrical Equipment	17.03

Equity REITs	14.63

Semiconductors & Semiconductor Equipment	13.78

Independent Power and Renewable Electricity Producers	7.73

Road & Rail	5.53

Building Products	4.51

Industry Types Each Less Than 3%	18.28

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.



		17
		17

Invesco Raymond James SB-1 Equity ETF (RYJ)

October 31, 2021

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.99%
Communication Services-3.85%
DISH Network Corp., Class A^(b)		18,488	$	759,302
EchoStar Corp., Class A^(b)		33,058		775,541