| ||||
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 |
Schedules of Investments |
||||
3 | ||||
5 | ||||
8 | ||||
11 | ||||
14 | ||||
18 | ||||
21 | ||||
27 | ||||
30 | ||||
32 | ||||
34 | ||||
38 | ||||
40 | ||||
42 | ||||
46 | ||||
57 | ||||
73 |
2 |
||||
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 |
|
682,217,796 | ||||||
|
|
|||||||
Money Market Funds-0.08% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(d)(e) |
536,729 | 536,729 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
682,754,525 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
|
|||||||
Money Market Funds-7.04% |
| |||||||
Invesco Private Government Fund, |
14,397,127 | 14,397,127 | ||||||
Invesco Private Prime Fund, |
33,579,866 | 33,593,298 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
47,990,425 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-107.14% |
|
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 |
||||
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 |
||||
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 |
||||
Invesco DWA Momentum ETF (PDP)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Information Technology-(continued) |
| |||||||
Zebra Technologies Corp., |
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 |
|
1,881,813,304 | ||||||
|
|
|||||||
Money Market Funds-0.02% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(d)(e) |
252,422 | 252,422 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
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 |
|
125,293,593 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-106.71% |
|
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) |
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 |
Realized |
Value |
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 |
||||
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 |
||||
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 |
|
251,222,729 | ||||||
|
|
|||||||
Closed-End Funds-3.68% |
| |||||||
Apax Global Alpha Ltd.(c)(d) |
466,870 | 1,366,320 | ||||||
HBM Healthcare Investments AG, |
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 |
10,222,014 | |||||||
|
|
|||||||
Shares | ||||||||
Money Market Funds-5.64% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(e)(f) |
15,660,084 | 15,660,084 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
266,882,813 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
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 |
36,465,485 | |||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-112.91% |
|
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) |
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 |
Purchases at Cost |
Proceeds from Sales |
Change
in |
Realized |
Value |
Dividend |
||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
||||
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 |
||||
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., |
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., |
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 |
||||
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 |
|
239,195,921 | ||||||
|
|
|||||||
Money Market Funds-0.11% |
|
|||||||
Invesco Government & Agency Portfolio, Institutional
Class, 0.03%(f)(g) |
273,639 | 273,639 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
239,469,560 | ||||||
|
|
Shares | Value | |||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-31.05% |
| |||||||
Invesco Private Government Fund, |
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 |
|
74,261,563 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-131.17% |
|
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) |
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 (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 |
||||
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 |
||||
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. |
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 |
||||
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. |
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, |
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 |
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 |
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 |
|
441,242,304 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
15 |
||||
Invesco MSCI Sustainable Future ETF (ERTH)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Exchange-Traded Funds-1.14% |
| |||||||
iShares MSCI India ETF |
104,398 | $ | 5,098,798 | |||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
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 |
|
93,329,139 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-120.94% |
|
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) |
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 |
$ | - | $ | 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 |
||||
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 |
||||
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 | ||||||
Meta Platforms, Inc., Class A(b) |
2,373 | 767,832 | ||||||
Telephone & Data Systems, Inc. |
41,560 | 778,834 | ||||||
United States Cellular Corp.(b) |
25,583 | 782,072 | ||||||
WideOpenWest, Inc.(b) |
39,458 | 751,675 | ||||||
ZipRecruiter, Inc., Class A(b) |
28,737 | 798,314 | ||||||
|
|
|||||||
5,413,570 | ||||||||
|
|
|||||||
Consumer Discretionary-11.31% |
||||||||
Advance Auto Parts, Inc. |
3,442 | 776,240 | ||||||
Arko Corp.(b) |
83,547 | 801,216 | ||||||
Bloomin’ Brands, Inc.(b) |
36,379 | 786,514 | ||||||
D.R. Horton, Inc. |
9,093 | 811,732 | ||||||
Dave & Buster’s Entertainment, |
21,985 | 816,303 | ||||||
Dollar General Corp. |
3,705 | 820,731 | ||||||
Everi Holdings, Inc.(b) |
33,440 | 802,560 | ||||||
KB Home |
19,859 | 797,339 | ||||||
M.D.C. Holdings, Inc. |
16,100 | 788,578 | ||||||
Mohawk Industries, Inc.(b) |
4,228 | 749,244 | ||||||
Newell Brands, Inc. |
34,892 | 798,678 | ||||||
Polaris, Inc.(c) |
6,344 | 729,243 | ||||||
PulteGroup, Inc. |
16,192 | 778,511 | ||||||
Rent-A-Center, Inc. |
14,280 | 760,553 | ||||||
Ruth’s Hospitality Group, Inc.(b) |
42,652 | 824,890 | ||||||
Target Corp. |
3,166 | 821,957 | ||||||
Tempur Sealy International, Inc. |
16,979 | 755,056 | ||||||
Texas Roadhouse, Inc. |
9,164 | 813,855 | ||||||
Tractor Supply Co. |
3,825 | 830,675 | ||||||
Xponential Fitness, Inc., Class A(c) |
50,141 | 847,383 | ||||||
|
|
|||||||
15,911,258 | ||||||||
|
|
|||||||
Consumer Staples-1.80% |
||||||||
Darling Ingredients, Inc.(b) |
10,587 | 894,813 | ||||||
Estee Lauder Cos., Inc. (The), Class A |
2,553 | 828,014 | ||||||
Primo Water Corp. |
51,215 | 814,319 | ||||||
|
|
|||||||
2,537,146 | ||||||||
|
|
|||||||
Energy-11.37% |
||||||||
Antero Resources Corp.(b) |
41,432 | 823,254 | ||||||
APA Corp. |
30,039 | 787,322 | ||||||
Black Stone Minerals L.P. |
67,660 | 846,427 | ||||||
Brigham Minerals, Inc., Class A |
36,351 | 842,616 | ||||||
Cheniere Energy, Inc.(b) |
7,596 | 785,426 | ||||||
ConocoPhillips |
10,876 | 810,153 | ||||||
DCP Midstream L.P. |
24,628 | 765,931 | ||||||
Devon Energy Corp. |
20,434 | 818,995 | ||||||
Diamondback Energy, Inc. |
7,448 | 798,351 | ||||||
Energy Transfer L.P. |
82,027 | 780,077 | ||||||
Enterprise Products Partners L.P. |
33,250 | 754,110 | ||||||
Kimbell Royalty Partners L.P. |
53,301 | 804,312 | ||||||
Marathon Oil Corp. |
50,139 | 818,268 | ||||||
Marathon Petroleum Corp. |
12,001 | 791,226 | ||||||
Northern Oil and Gas, Inc.(c) |
33,509 | 776,068 | ||||||
Occidental Petroleum Corp. |
24,733 | 829,298 | ||||||
Pioneer Natural Resources Co. |
4,299 | 803,827 | ||||||
Targa Resources Corp. |
14,565 | 796,269 |
Shares | Value | |||||||
Energy-(continued) |
||||||||
Valero Energy Corp. |
9,893 | $ | 765,026 | |||||
Williams Cos., Inc. (The) |
28,445 | 799,020 | ||||||
|
|
|||||||
15,995,976 | ||||||||
|
|
|||||||
Financials-20.07% |
||||||||
Allstate Corp. (The) |
6,399 | 791,364 | ||||||
Argo Group International Holdings Ltd. |
14,902 | 821,100 | ||||||
AssetMark Financial Holdings, Inc.(b) |
31,505 | 807,788 | ||||||
Axos Financial, Inc.(b) |
15,307 | 811,271 | ||||||
Bancorp, Inc. (The)(b) |
25,544 | 780,369 | ||||||
Banner Corp. |
13,628 | 787,153 | ||||||
Barings BDC, Inc. |
74,019 | 831,974 | ||||||
Cadence Bank |
26,153 | 758,960 | ||||||
Chubb Ltd. |
4,356 | 851,075 | ||||||
ConnectOne Bancorp, Inc. |
25,039 | 844,565 | ||||||
Dime Community Bancshares, Inc. |
23,440 | 836,339 | ||||||
Finance Of America Cos., Inc., |
170,789 | 818,079 | ||||||
Hancock Whitney Corp. |
15,817 | 782,625 | ||||||
Huntington Bancshares, Inc. |
49,196 | 774,345 | ||||||
Intercontinental Exchange, Inc. |
6,259 | 866,621 | ||||||
Ladder Capital Corp. |
67,887 | 814,644 | ||||||
Lakeland Bancorp, Inc. |
45,119 | 811,240 | ||||||
Level One Bancorp, Inc. |
8,421 | 264,504 | ||||||
Merchants Bancorp |
18,994 | 843,903 | ||||||
Meta Financial Group, Inc. |
13,177 | 730,533 | ||||||
Nexpoint Real Estate Finance, Inc. |
38,723 | 802,728 | ||||||
OceanFirst Financial Corp. |
36,875 | 817,519 | ||||||
Old Republic International Corp. |
32,685 | 844,254 | ||||||
Old Second Bancorp, Inc. |
60,226 | 815,460 | ||||||
Open Lending Corp., Class A(b) |
23,406 | 737,757 | ||||||
Origin Bancorp, Inc. |
18,375 | 819,525 | ||||||
PacWest Bancorp |
17,187 | 815,867 | ||||||
Redwood Trust, Inc. |
57,987 | 786,304 | ||||||
Signature Bank |
2,600 | 774,332 | ||||||
SmartFinancial, Inc. |
19,474 | 506,129 | ||||||
TPG RE Finance Trust, Inc. |
62,022 | 810,628 | ||||||
Triumph Bancorp, Inc.(b) |
7,388 | 866,612 | ||||||
Veritex Holdings, Inc. |
20,190 | 826,781 | ||||||
Willis Towers Watson PLC |
3,286 | 796,132 | ||||||
Wintrust Financial Corp. |
8,819 | 780,482 | ||||||
Zions Bancorporation N.A |
12,564 | 791,406 | ||||||
|
|
|||||||
28,220,368 | ||||||||
|
|
|||||||
Health Care-13.55% |
||||||||
Acadia Healthcare Co., Inc.(b) |
13,999 | 867,938 | ||||||
AngioDynamics, Inc.(b) |
28,209 | 806,777 | ||||||
Antares Pharma, Inc.(b) |
216,332 | 809,082 | ||||||
Apellis Pharmaceuticals, Inc.(b)(c) |
25,351 | 779,290 | ||||||
Aveanna Healthcare Holdings, Inc.(b) |
111,588 | 861,459 | ||||||
Blueprint Medicines Corp.(b) |
8,035 | 903,857 | ||||||
Boston Scientific Corp.(b) |
18,080 | 779,790 | ||||||
CareDx, Inc.(b)(c) |
11,442 | 583,542 | ||||||
ChemoCentryx, Inc.(b) |
23,172 | 806,617 | ||||||
Cigna Corp. |
3,723 | 795,270 | ||||||
CVS Health Corp. |
9,340 | 833,875 | ||||||
Cymabay Therapeutics, Inc.(b)(c) |
202,306 | 788,993 | ||||||
Encompass Health Corp. |
11,453 | 727,953 | ||||||
Exact Sciences Corp.(b)(c) |
8,433 | 802,990 | ||||||
Health Catalyst, Inc.(b)(c) |
15,716 | 827,290 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
18 |
||||
Invesco Raymond James SB-1 Equity ETF (RYJ)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Health Care-(continued) |
||||||||
HealthEquity, Inc.(b) |
12,316 | $ | 815,073 | |||||
Mirum Pharmaceuticals, Inc.(b) |
51,508 | 817,947 | ||||||
NGM Biopharmaceuticals, Inc.(b) |
42,143 | 778,381 | ||||||
Ocular Therapeutix, Inc.(b)(c) |
74,907 | 497,383 | ||||||
PolyPid Ltd. (Israel)(b)(c) |
22,042 | 156,719 | ||||||
REGENXBIO, Inc.(b) |
23,159 | 820,755 | ||||||
Sol-Gel Technologies Ltd. (Israel)(b)(c) |
13,294 | 116,455 | ||||||
Tarsus Pharmaceuticals, Inc.(b)(c) |
20,994 | 582,794 | ||||||
uniQure N.V. (Netherlands)(b)(c) |
28,727 | 875,312 | ||||||
UnitedHealth Group, Inc. |
1,834 | 844,502 | ||||||
VBI Vaccines, Inc.(b)(c) |
265,982 | 771,348 | ||||||
|
|
|||||||
19,051,392 | ||||||||
|
|
|||||||
Industrials-11.41% |
||||||||
Alaska Air Group, Inc.(b) |
14,435 | 762,168 | ||||||
Allegiant Travel Co.(b) |
4,337 | 760,146 | ||||||
Axon Enterprise, Inc.(b) |
4,394 | 790,744 | ||||||
Bloom Energy Corp., Class A(b)(c) |
38,030 | 1,188,818 | ||||||
Byrna Technologies, Inc.(c) |
46,785 | 788,327 | ||||||
Casella Waste Systems, Inc., |
9,908 | 859,222 | ||||||
Delta Air Lines, Inc.(b) |
20,080 | 785,730 | ||||||
Federal Signal Corp. |
19,338 | 827,860 | ||||||
Forward Air Corp. |
9,032 | 908,258 | ||||||
FTC Solar, Inc.(b)(c) |
103,740 | 989,680 | ||||||
PACCAR, Inc. |
9,353 | 838,216 | ||||||
Roper Technologies, Inc. |
1,674 | 816,694 | ||||||
SkyWest, Inc.(b) |
17,014 | 732,113 | ||||||
Tecnoglass, Inc.(c) |
29,891 | 863,252 | ||||||
Union Pacific Corp. |
3,482 | 840,555 | ||||||
United Parcel Service, Inc., Class B |
4,039 | 862,205 | ||||||
Wabash National Corp. |
50,263 | 780,584 | ||||||
Waste Connections, Inc. |
6,102 | 829,933 | ||||||
WESCO International, Inc.(b) |
6,373 | 825,686 | ||||||
|
|
|||||||
16,050,191 | ||||||||
|
|
|||||||
Information Technology-14.56% |
||||||||
Alarm.com Holdings, Inc.(b) |
9,975 | 840,493 | ||||||
Avnet, Inc. |
21,321 | 812,543 | ||||||
Cognex Corp. |
9,450 | 827,725 | ||||||
Envestnet, Inc.(b) |
9,629 | 804,022 | ||||||
Fidelity National Information Services, Inc. |
6,520 | 722,025 | ||||||
GDS Holdings Ltd., ADR (China)(b)(c) |
12,941 | 768,695 | ||||||
GoDaddy, Inc., Class A(b) |
11,669 | 807,145 | ||||||
HubSpot, Inc.(b) |
1,015 | 822,383 | ||||||
I3 Verticals, Inc., Class A(b) |
33,620 | 752,752 | ||||||
Itron, Inc.(b) |
10,419 | 810,286 | ||||||
Jabil, Inc. |
12,953 | 776,662 | ||||||
Microchip Technology, Inc. |
10,673 | 790,763 | ||||||
Micron Technology, Inc. |
11,819 | 816,693 | ||||||
MiX Telematics Ltd., ADR |
16,072 | 201,382 | ||||||
nLight, Inc.(b) |
28,788 | 809,519 | ||||||
NVIDIA Corp. |
3,548 | 907,117 | ||||||
Okta, Inc.(b) |
3,123 | 771,943 | ||||||
Ping Identity Holding Corp.(b) |
29,218 | 827,746 | ||||||
Pure Storage, Inc., Class A(b) |
30,893 | 829,786 | ||||||
QUALCOMM, Inc. |
6,097 | 811,145 |
Investment Abbreviations:
ADR-American Depositary Receipt
REIT-Real Estate Investment Trust
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
RingCentral, Inc., Class A(b) |
3,269 | $ | 796,917 | |||||
salesforce.com, inc.(b) |
2,777 | 832,239 | ||||||
SS&C Technologies Holdings, Inc. |
10,903 | 866,461 | ||||||
Switch, Inc., Class A(c) |
31,677 | 800,795 | ||||||
SYNNEX Corp. |
7,690 | 807,450 | ||||||
ViaSat, Inc.(b) |
14,341 | 856,014 | ||||||
|
|
|||||||
20,470,701 | ||||||||
|
|
|||||||
Materials-0.58% |
||||||||
Scotts Miracle-Gro Co. (The) |
5,486 | 814,452 | ||||||
|
|
|||||||
Real Estate-10.85% |
||||||||
Agree Realty Corp. |
11,526 | 819,038 | ||||||
American Homes 4 Rent, Class A |
20,502 | 832,381 | ||||||
CareTrust REIT, Inc. |
37,820 | 784,765 | ||||||
Digital Realty Trust, Inc. |
5,198 | 820,296 | ||||||
DigitalBridge Group, Inc.(b)(c) |
122,730 | 822,291 | ||||||
EPR Properties |
15,758 | 791,209 | ||||||
Equinix, Inc. |
1,001 | 837,907 | ||||||
Gaming and Leisure Properties, Inc. |
16,449 | 797,612 | ||||||
Invitation Homes, Inc. |
20,130 | 830,362 | ||||||
Kite Realty Group Trust |
38,302 | 777,531 | ||||||
National Retail Properties, Inc. |
17,590 | 797,882 | ||||||
PotlatchDeltic Corp. |
14,918 | 779,764 | ||||||
Prologis, Inc. |
5,554 | 805,108 | ||||||
SBA Communications Corp., Class A |
2,385 | 823,612 | ||||||
Uniti Group, Inc. |
56,336 | 806,168 | ||||||
Ventas, Inc. |
14,440 | 770,663 | ||||||
VICI Properties, Inc.(c) |
26,934 | 790,513 | ||||||
Welltower, Inc. |
9,757 | 784,463 | ||||||
Weyerhaeuser Co. |
22,051 | 787,662 | ||||||
|
|
|||||||
15,259,227 | ||||||||
|
|
|||||||
Utilities-0.64% |
||||||||
Sunnova Energy International, Inc.(b)(c) |
20,179 | 899,176 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
140,623,457 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-9.54% |
||||||||
Invesco Private Government Fund, 0.02%(d)(e)(f) |
4,025,103 | 4,025,103 | ||||||
Invesco Private Prime Fund, 0.11%(d)(e)(f) |
9,388,151 | 9,391,906 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
13,417,009 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-109.53% |
|
154,040,466 | ||||||
OTHER ASSETS LESS LIABILITIES-(9.53)% |
|
(13,403,328 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 140,637,138 | |||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
19 |
||||
Invesco Raymond James SB-1 Equity ETF (RYJ)—(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 |
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Investments in Affiliated Money Market Funds: |
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Invesco Government & Agency Portfolio, Institutional Class |
$ | - | $ | 382,543 | $ | (382,543 | ) | $- | $- | $ | - | $ | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
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Invesco Private Government Fund |
3,616,622 | 16,305,020 | (15,896,539 | ) | - | - | 4,025,103 | 252 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Prime Fund |
5,424,933 | 36,901,592 | (32,934,619 | ) | - | - | 9,391,906 | 3,729 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Total |
$ | 9,041,555 | $ | 53,589,155 | $ | (49,213,701 | ) | $- | $- | $ | 13,417,009 | $ | 3,982 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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* |
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
Sector Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021
Financials |
20.07 | |||
Information Technology |
14.56 | |||
Health Care |
13.55 | |||
Industrials |
11.41 | |||
Energy |
11.37 | |||
Consumer Discretionary |
11.31 | |||
Real Estate |
10.85 | |||
Communication Services |
3.85 | |||
Sector Types Each Less Than 3% |
3.02 | |||
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.
20 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)
October 31, 2021
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-103.39% |
| |||||||
Communication Services-11.19% |
| |||||||
Activision Blizzard, Inc. |
3,638 | $ | 284,456 | |||||
Alphabet, Inc., Class A(b) |
1,406 | 4,163,054 | ||||||
Alphabet, Inc., Class C(b) |
1,318 | 3,908,410 | ||||||
AT&T, Inc. |
33,421 | 844,214 | ||||||
Charter Communications, Inc., |
594 | 400,885 | ||||||
Comcast Corp., Class A |
21,439 | 1,102,608 | ||||||
Discovery, Inc., Class A(b) |
802 | 18,799 | ||||||
Discovery, Inc., Class C(b) |
1,411 | 31,832 | ||||||
DISH Network Corp., Class A(b) |
1,164 | 47,805 | ||||||
Electronic Arts, Inc. |
1,336 | 187,374 | ||||||
Fox Corp., Class A |
1,515 | 60,206 | ||||||
Fox Corp., Class B |
686 | 25,355 | ||||||
Interpublic Group of Cos., Inc. (The) |
1,833 | 67,033 | ||||||
Live Nation Entertainment, Inc.(b) |
618 | 62,511 | ||||||
Lumen Technologies, Inc. |
4,658 | 55,244 | ||||||
Match Group, Inc.(b) |
1,297 | 195,562 | ||||||
Meta Platforms, Inc., Class A(b) |
11,160 | 3,611,041 | ||||||
Netflix, Inc.(b) |
2,071 | 1,429,632 | ||||||
News Corp., Class A |
1,833 | 41,976 | ||||||
News Corp., Class B |
573 | 12,927 | ||||||
Omnicom Group, Inc. |
1,002 | 68,216 | ||||||
Take-Two Interactive Software, Inc.(b) |
544 | 98,464 | ||||||
T-Mobile US, Inc.(b) |
2,743 | 315,527 | ||||||
Twitter, Inc.(b) |
3,736 | 200,025 | ||||||
Verizon Communications, Inc. |
19,379 | 1,026,893 | ||||||
ViacomCBS, Inc., Class B |
2,836 | 102,720 | ||||||
Walt Disney Co. (The)(b) |
8,507 | 1,438,278 | ||||||
|
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19,801,047 | ||||||||
|
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|||||||
Consumer Discretionary-13.25% |
| |||||||
Advance Auto Parts, Inc. |
306 | 69,009 | ||||||
Amazon.com, Inc.(b) |
2,037 | 6,869,640 | ||||||
Aptiv PLC(b) |
1,264 | 218,533 | ||||||
AutoZone, Inc.(b) |
100 | 178,484 | ||||||
Bath & Body Works, Inc. |
1,241 | 85,741 | ||||||
Best Buy Co., Inc. |
1,056 | 129,085 | ||||||
Booking Holdings, Inc.(b) |
195 | 472,052 | ||||||
BorgWarner, Inc. |
1,121 | 50,523 | ||||||
Caesars Entertainment, Inc.(b) |
998 | 109,241 | ||||||
CarMax, Inc.(b) |
764 | 104,607 | ||||||
Carnival Corp.(b) |
3,739 | 82,856 | ||||||
Chipotle Mexican Grill, Inc.(b) |
131 | 233,053 | ||||||
D.R. Horton, Inc. |
1,527 | 136,315 | ||||||
Darden Restaurants, Inc. |
611 | 88,070 | ||||||
Dollar General Corp. |
1,108 | 245,444 | ||||||
Dollar Tree, Inc.(b) |
1,087 | 117,135 | ||||||
Domino’s Pizza, Inc. |
172 | 84,103 | ||||||
eBay, Inc. |
3,040 | 233,229 | ||||||
Etsy, Inc.(b) |
593 | 148,659 | ||||||
Expedia Group, Inc.(b) |
678 | 111,470 | ||||||
Ford Motor Co.(b) |
18,367 | 313,708 | ||||||
Gap, Inc. (The) |
992 | 22,508 | ||||||
Garmin Ltd. |
710 | 101,956 | ||||||
General Motors Co.(b) |
6,795 | 369,852 | ||||||
Genuine Parts Co. |
668 | 87,581 | ||||||
Hanesbrands, Inc. |
1,634 | 27,843 | ||||||
Hasbro, Inc. |
611 | 58,509 |
Shares | Value | |||||||
Consumer Discretionary-(continued) |
| |||||||
Hilton Worldwide Holdings, Inc.(b) |
1,303 | $ | 187,567 | |||||
Home Depot, Inc. (The) |
4,975 | 1,849,407 | ||||||
Las Vegas Sands Corp.(b) |
1,602 | 62,174 | ||||||
Leggett & Platt, Inc. |
625 | 29,281 | ||||||
Lennar Corp., Class A |
1,284 | 128,310 | ||||||
LKQ Corp.(b) |
1,259 | 69,346 | ||||||
Lowe’s Cos., Inc. |
3,310 | 773,944 | ||||||
Marriott International, Inc., Class A(b) |
1,278 | 204,506 | ||||||
McDonald’s Corp. |
3,493 | 857,706 | ||||||
MGM Resorts International |
1,870 | 88,189 | ||||||
Mohawk Industries, Inc.(b) |
261 | 46,252 | ||||||
Newell Brands, Inc. |
1,755 | 40,172 | ||||||
NIKE, Inc., Class B |
5,984 | 1,001,063 | ||||||
Norwegian Cruise Line Holdings |
1,717 | 44,161 | ||||||
NVR, Inc.(b) |
17 | 83,212 | ||||||
O’Reilly Automotive, Inc.(b) |
324 | 201,632 | ||||||
Penn National Gaming, Inc.(b) |
733 | 52,483 | ||||||
Pool Corp. |
189 | 97,365 | ||||||
PulteGroup, Inc. |
1,216 | 58,465 | ||||||
PVH Corp.(b) |
336 | 36,735 | ||||||
Ralph Lauren Corp. |
229 | 29,122 | ||||||
Ross Stores, Inc. |
1,673 | 189,384 | ||||||
Royal Caribbean Cruises Ltd.(b) |
1,050 | 88,652 | ||||||
Starbucks Corp. |
5,521 | 585,612 | ||||||
Tapestry, Inc. |
1,297 | 50,557 | ||||||
Target Corp. |
2,314 | 600,761 | ||||||
Tesla, Inc.(b) |
3,796 | 4,228,744 | ||||||
TJX Cos., Inc. (The) |
5,649 | 369,953 | ||||||
Tractor Supply Co. |
534 | 115,969 | ||||||
Ulta Beauty, Inc.(b) |
255 | 93,677 | ||||||
Under Armour, Inc., Class A(b) |
878 | 19,281 | ||||||
Under Armour, Inc., Class C(b) |
955 | 18,030 | ||||||
VF Corp. |
1,527 | 111,288 | ||||||
Whirlpool Corp. |
294 | 61,984 | ||||||
Wynn Resorts Ltd.(b) |
497 | 44,631 | ||||||
Yum! Brands, Inc. |
1,385 | 173,042 | ||||||
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23,441,863 | ||||||||
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Consumer Staples-5.78% |
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Altria Group, Inc. |
8,633 | 380,802 | ||||||
Archer-Daniels-Midland Co. |
2,616 | 168,052 | ||||||
Brown-Forman Corp., Class B |
855 | 58,046 | ||||||
Campbell Soup Co. |
955 | 38,152 | ||||||
Church & Dwight Co., Inc. |
1,144 | 99,940 | ||||||
Clorox Co. (The) |
573 | 93,405 | ||||||
Coca-Cola Co. (The) |
18,185 | 1,025,089 | ||||||
Colgate-Palmolive Co. |
3,946 | 300,646 | ||||||
Conagra Brands, Inc. |
2,249 | 72,418 | ||||||
Constellation Brands, Inc., Class A |
789 | 171,063 | ||||||
Costco Wholesale Corp. |
2,069 | 1,016,996 | ||||||
Estee Lauder Cos., Inc. (The), Class A |
1,087 | 352,547 | ||||||
General Mills, Inc. |
2,838 | 175,388 | ||||||
Hershey Co. (The) |
679 | 119,063 | ||||||
Hormel Foods Corp. |
1,319 | 55,820 | ||||||
JM Smucker Co. (The) |
510 | 62,659 | ||||||
Kellogg Co. |
1,197 | 73,376 | ||||||
Kimberly-Clark Corp. |
1,574 | 203,817 | ||||||
Kraft Heinz Co. (The) |
3,151 | 113,089 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
21 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Consumer Staples-(continued) |
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Kroger Co. (The) |
3,180 | $ | 127,264 | |||||
Lamb Weston Holdings, Inc. |
687 | 38,781 | ||||||
McCormick & Co., Inc. |
1,166 | 93,548 | ||||||
Molson Coors Beverage Co., Class B |
878 | 38,711 | ||||||
Mondelez International, Inc., Class A |
6,543 | 397,422 | ||||||
Monster Beverage Corp.(b) |
1,755 | 149,175 | ||||||
PepsiCo, Inc. |
6,467 | 1,045,067 | ||||||
Philip Morris International, Inc. |
7,297 | 689,858 | ||||||
Procter & Gamble Co. (The) |
11,361 | 1,624,509 | ||||||
Sysco Corp. |
2,396 | 184,252 | ||||||
Tyson Foods, Inc., Class A |
1,381 | 110,439 | ||||||
Walgreens Boots Alliance, Inc. |
3,359 | 157,940 | ||||||
Walmart, Inc. |
6,690 | 999,620 | ||||||
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10,236,954 | ||||||||
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Energy-2.95% |
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APA Corp. |
1,755 | 45,999 | ||||||
Baker Hughes Co., Class A |
3,878 | 97,260 | ||||||
Chevron Corp. |
9,052 | 1,036,363 | ||||||
ConocoPhillips |
6,269 | 466,978 | ||||||
Coterra Energy, Inc. |
3,802 | 81,059 | ||||||
Devon Energy Corp. |
2,947 | 118,116 | ||||||
Diamondback Energy, Inc. |
803 | 86,074 | ||||||
EOG Resources, Inc. |
2,735 | 252,878 | ||||||
Exxon Mobil Corp. |
19,816 | 1,277,537 | ||||||
Halliburton Co. |
4,169 | 104,183 | ||||||
Hess Corp. |
1,289 | 106,433 | ||||||
Kinder Morgan, Inc. |
9,122 | 152,793 | ||||||
Marathon Oil Corp. |
3,664 | 59,796 | ||||||
Marathon Petroleum Corp. |
2,989 | 197,065 | ||||||
Occidental Petroleum Corp. |
4,152 | 139,217 | ||||||
ONEOK, Inc. |
2,086 | 132,711 | ||||||
Phillips 66 |
2,049 | 153,224 | ||||||
Pioneer Natural Resources Co. |
1,063 | 198,760 | ||||||
Schlumberger N.V. |
6,546 | 211,174 | ||||||
Valero Energy Corp. |
1,908 | 147,546 | ||||||
Williams Cos., Inc. (The) |
5,689 | 159,804 | ||||||
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5,224,970 | ||||||||
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Financials-11.79% |
| |||||||
Aflac, Inc. |
2,886 | 154,892 | ||||||
Allstate Corp. (The) |
1,385 | 171,283 | ||||||
American Express Co. |
3,014 | 523,773 | ||||||
American International Group, Inc. |
4,003 | 236,537 | ||||||
Ameriprise Financial, Inc. |
530 | 160,129 | ||||||
Aon PLC, Class A |
1,058 | 338,475 | ||||||
Arthur J. Gallagher & Co. |
966 | 161,969 | ||||||
Assurant, Inc. |
275 | 44,360 | ||||||
Bank of America Corp. |
34,664 | 1,656,246 | ||||||
Bank of New York Mellon Corp. (The) |
3,718 | 220,106 | ||||||
Berkshire Hathaway, Inc., Class B(b) |
8,674 | 2,489,525 | ||||||
BlackRock, Inc. |
668 | 630,231 | ||||||
Brown & Brown, Inc. |
1,096 | 69,169 | ||||||
Capital One Financial Corp. |
2,089 | 315,502 | ||||||
Cboe Global Markets, Inc. |
501 | 66,102 | ||||||
Charles Schwab Corp. (The) |
7,029 | 576,589 | ||||||
Chubb Ltd. |
2,053 | 401,115 | ||||||
Cincinnati Financial Corp. |
700 | 85,008 | ||||||
Citigroup, Inc. |
9,487 | 656,121 | ||||||
Citizens Financial Group, Inc. |
1,996 | 94,570 | ||||||
CME Group, Inc., Class A |
1,680 | 370,524 |
Shares | Value | |||||||
Financials-(continued) |
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Comerica, Inc. |
628 | $ | 53,436 | |||||
Discover Financial Services |
1,404 | 159,101 | ||||||
Everest Re Group Ltd. |
188 | 49,162 | ||||||
Fifth Third Bancorp |
3,232 | 140,689 | ||||||
First Republic Bank |
823 | 178,040 | ||||||
Franklin Resources, Inc. |
1,318 | 41,504 | ||||||
Globe Life, Inc. |
438 | 38,991 | ||||||
Goldman Sachs Group, Inc. (The) |
1,575 | 651,026 | ||||||
Hartford Financial Services Group, Inc. (The) |
1,625 | 118,511 | ||||||
Huntington Bancshares, Inc. |
6,910 | 108,763 | ||||||
Intercontinental Exchange, Inc. |
2,635 | 364,842 | ||||||
Invesco Ltd.(c) |
1,564 | 39,741 | ||||||
JPMorgan Chase & Co. |
13,984 | 2,375,742 | ||||||
KeyCorp. |
4,478 | 104,203 | ||||||
Lincoln National Corp. |
825 | 59,524 | ||||||
Loews Corp. |
955 | 53,547 | ||||||
M&T Bank Corp. |
603 | 88,713 | ||||||
MarketAxess Holdings, Inc. |
179 | 73,152 | ||||||
Marsh & McLennan Cos., Inc. |
2,372 | 395,650 | ||||||
MetLife, Inc. |
3,409 | 214,085 | ||||||
Moody’s Corp. |
759 | 306,750 | ||||||
Morgan Stanley |
6,833 | 702,296 | ||||||
MSCI, Inc. |
385 | 255,979 | ||||||
Nasdaq, Inc. |
546 | 114,589 | ||||||
Northern Trust Corp. |
973 | 119,718 | ||||||
People’s United Financial, Inc. |
1,985 | 34,023 | ||||||
PNC Financial Services Group, Inc. (The) |
1,991 | 420,161 | ||||||
Principal Financial Group, Inc. |
1,168 | 78,361 | ||||||
Progressive Corp. (The) |
2,737 | 259,687 | ||||||
Prudential Financial, Inc. |
1,811 | 199,301 | ||||||
Raymond James Financial, Inc. |
866 | 85,379 | ||||||
Regions Financial Corp. |
4,469 | 105,826 | ||||||
S&P Global, Inc. |
1,126 | 533,904 | ||||||
State Street Corp. |
1,709 | 168,422 | ||||||
SVB Financial Group(b) |
274 | 196,568 | ||||||
Synchrony Financial |
2,667 | 123,882 | ||||||
T. Rowe Price Group, Inc. |
1,063 | 230,543 | ||||||
Travelers Cos., Inc. (The) |
1,167 | 187,747 | ||||||
Truist Financial Corp. |
6,249 | 396,624 | ||||||
U.S. Bancorp |
6,314 | 381,176 | ||||||
W.R. Berkley Corp. |
658 | 52,377 | ||||||
Wells Fargo & Co. |
19,221 | 983,346 | ||||||
Willis Towers Watson PLC |
605 | 146,579 | ||||||
Zions Bancorporation N.A. |
764 | 48,124 | ||||||
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20,862,010 | ||||||||
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Health Care-13.46% |
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Abbott Laboratories |
8,298 | 1,069,529 | ||||||
AbbVie, Inc. |
8,271 | 948,436 | ||||||
ABIOMED, Inc.(b) |
215 | 71,389 | ||||||
Agilent Technologies, Inc. |
1,417 | 223,163 | ||||||
Align Technology, Inc.(b) |
346 | 216,032 | ||||||
AmerisourceBergen Corp. |
699 | 85,292 | ||||||
Amgen, Inc. |
2,657 | 549,919 | ||||||
Anthem, Inc. |
1,140 | 496,048 | ||||||
Baxter International, Inc. |
2,339 | 184,687 | ||||||
Becton, Dickinson and Co. |
1,345 | 322,249 | ||||||
Biogen, Inc.(b) |
696 | 185,609 | ||||||
Bio-Rad Laboratories, Inc., Class A(b) |
100 | 79,468 | ||||||
Bio-Techne Corp. |
183 | 95,828 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
22 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Health Care-(continued) |
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Boston Scientific Corp.(b) |
6,665 | $ | 287,461 | |||||
Bristol-Myers Squibb Co. |
10,403 | 607,535 | ||||||
Cardinal Health, Inc. |
1,359 | 64,974 | ||||||
Catalent, Inc.(b) |
803 | 110,702 | ||||||
Centene Corp.(b) |
2,731 | 194,556 | ||||||
Cerner Corp. |
1,385 | 102,892 | ||||||
Charles River Laboratories International, Inc.(b) |
234 | 104,991 | ||||||
Cigna Corp. |
1,591 | 339,854 | ||||||
Cooper Cos., Inc. (The) |
228 | 95,058 | ||||||
CVS Health Corp. |
6,176 | 551,393 | ||||||
Danaher Corp. |
2,974 | 927,204 | ||||||
DaVita, Inc.(b) |
315 | 32,521 | ||||||
DENTSPLY SIRONA, Inc. |
1,031 | 58,984 | ||||||
DexCom, Inc.(b) |
453 | 282,314 | ||||||
Edwards Lifesciences Corp.(b) |
2,915 | 349,275 | ||||||
Eli Lilly and Co. |
3,717 | 946,943 | ||||||
Gilead Sciences, Inc. |
5,867 | 380,651 | ||||||
HCA Healthcare, Inc. |
1,153 | 288,780 | ||||||
Henry Schein, Inc.(b) |
650 | 49,628 | ||||||
Hologic, Inc.(b) |
1,183 | 86,726 | ||||||
Humana, Inc. |
602 | 278,822 | ||||||
IDEXX Laboratories, Inc.(b) |
397 | 264,458 | ||||||
Illumina, Inc.(b) |
685 | 284,316 | ||||||
Incyte Corp.(b) |
878 | 58,808 | ||||||
Intuitive Surgical, Inc.(b) |
1,670 | 603,087 | ||||||
IQVIA Holdings, Inc.(b) |
897 | 234,494 | ||||||
Johnson & Johnson |
12,324 | 2,007,333 | ||||||
Laboratory Corp. of America Holdings(b) |
453 | 130,020 | ||||||
McKesson Corp. |
725 | 150,713 | ||||||
Medtronic PLC |
6,288 | 753,680 | ||||||
Merck & Co., Inc. |
11,849 | 1,043,304 | ||||||
Mettler-Toledo International, Inc.(b) |
108 | 159,935 | ||||||
Moderna, Inc.(b) |
1,644 | 567,525 | ||||||
Organon & Co. |
1,183 | 43,475 | ||||||
PerkinElmer, Inc. |
523 | 92,513 | ||||||
Pfizer, Inc. |
26,246 | 1,148,000 | ||||||
Quest Diagnostics, Inc. |
572 | 83,958 | ||||||
Regeneron Pharmaceuticals, Inc.(b) |
494 | 316,130 | ||||||
ResMed, Inc. |
680 | 178,779 | ||||||
STERIS PLC |
467 | 109,157 | ||||||
Stryker Corp. |
1,568 | 417,198 | ||||||
Teleflex, Inc. |
222 | 79,241 | ||||||
Thermo Fisher Scientific, Inc. |
1,843 | 1,166,748 | ||||||
UnitedHealth Group, Inc. |
4,412 | 2,031,594 | ||||||
Universal Health Services, Inc., Class B |
357 | 44,304 | ||||||
Vertex Pharmaceuticals, Inc.(b) |
1,216 | 224,875 | ||||||
Viatris, Inc. |
5,661 | 75,574 | ||||||
Waters Corp.(b) |
288 | 105,854 | ||||||
West Pharmaceutical Services, Inc. |
348 | 149,598 | ||||||
Zimmer Biomet Holdings, Inc. |
976 | 139,685 | ||||||
Zoetis, Inc. |
2,218 | 479,532 | ||||||
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23,812,801 | ||||||||
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Industrials-8.30% |
||||||||
3M Co. |
2,710 | 484,223 | ||||||
A.O. Smith Corp. |
625 | 45,669 | ||||||
Alaska Air Group, Inc.(b) |
586 | 30,941 | ||||||
Allegion PLC |
420 | 53,886 | ||||||
American Airlines Group, Inc.(b) |
3,016 | 57,907 | ||||||
AMETEK, Inc. |
1,084 | 143,522 |
Shares | Value | |||||||
Industrials-(continued) |
| |||||||
Boeing Co. (The)(b) |
2,581 | $ | 534,344 | |||||
C.H. Robinson Worldwide, Inc. |
617 | 59,843 | ||||||
Carrier Global Corp. |
4,064 | 212,263 | ||||||
Caterpillar, Inc. |
2,564 | 523,082 | ||||||
Cintas Corp. |
409 | 177,138 | ||||||
Copart, Inc.(b) |
992 | 154,048 | ||||||
CSX Corp. |
10,554 | 381,738 | ||||||
Cummins, Inc. |
670 | 160,693 | ||||||
Deere & Co. |
1,328 | 454,588 | ||||||
Delta Air Lines, Inc.(b) |
2,996 | 117,233 | ||||||
Dover Corp. |
672 | 113,622 | ||||||
Eaton Corp. PLC |
1,864 | 307,113 | ||||||
Emerson Electric Co. |
2,797 | 271,337 | ||||||
Equifax, Inc. |
569 | 157,858 | ||||||
Expeditors International of Washington, Inc. |
802 | 98,854 | ||||||
Fastenal Co. |
2,691 | 153,602 | ||||||
FedEx Corp. |
1,150 | 270,859 | ||||||
Fortive Corp. |
1,679 | 127,117 | ||||||
Fortune Brands Home & Security, Inc. |
650 | 65,910 | ||||||
Generac Holdings, Inc.(b) |
296 | 147,574 | ||||||
General Dynamics Corp. |
1,088 | 220,592 | ||||||
General Electric Co. |
5,137 | 538,717 | ||||||
Honeywell International, Inc. |
3,231 | 706,361 | ||||||
Howmet Aerospace, Inc. |
1,794 | 53,264 | ||||||
Huntington Ingalls Industries, Inc. |
192 | 38,924 | ||||||
IDEX Corp. |
358 | 79,680 | ||||||
IHS Markit Ltd. |
1,864 | 243,662 | ||||||
Illinois Tool Works, Inc. |
1,342 | 305,801 | ||||||
Ingersoll Rand, Inc.(b) |
1,896 | 101,913 | ||||||
J.B. Hunt Transport Services, Inc. |
393 | 77,496 | ||||||
Jacobs Engineering Group, Inc. |
611 | 85,797 | ||||||
Johnson Controls International PLC |
3,332 | 244,469 | ||||||
Kansas City Southern |
425 | 131,856 | ||||||
L3Harris Technologies, Inc. |
943 | 217,399 | ||||||
Leidos Holdings, Inc. |
666 | 66,587 | ||||||
Lockheed Martin Corp. |
1,153 | 383,165 | ||||||
Masco Corp. |
1,156 | 75,776 | ||||||
Nielsen Holdings PLC |
1,680 | 34,020 | ||||||
Norfolk Southern Corp. |
1,155 | 338,473 | ||||||
Northrop Grumman Corp. |
703 | 251,126 | ||||||
Old Dominion Freight Line, Inc. |
439 | 149,853 | ||||||
Otis Worldwide Corp. |
2,000 | 160,620 | ||||||
PACCAR, Inc. |
1,625 | 145,632 | ||||||
Parker-Hannifin Corp. |
605 | 179,437 | ||||||
Pentair PLC |
778 | 57,549 | ||||||
Quanta Services, Inc. |
650 | 78,832 | ||||||
Raytheon Technologies Corp. |
7,056 | 626,996 | ||||||
Republic Services, Inc. |
982 | 132,177 | ||||||
Robert Half International, Inc. |
522 | 59,023 | ||||||
Rockwell Automation, Inc. |
541 | 172,795 | ||||||
Rollins, Inc. |
1,060 | 37,344 | ||||||
Roper Technologies, Inc. |
497 | 242,471 | ||||||
Snap-on, Inc. |
251 | 51,011 | ||||||
Southwest Airlines Co.(b) |
2,768 | 130,871 | ||||||
Stanley Black & Decker, Inc. |
764 | 137,314 | ||||||
Textron, Inc. |
1,050 | 77,542 | ||||||
Trane Technologies PLC |
1,109 | 200,651 | ||||||
TransDigm Group, Inc.(b) |
244 | 152,212 | ||||||
Union Pacific Corp. |
3,050 | 736,270 | ||||||
United Airlines Holdings, Inc.(b) |
1,516 | 69,948 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
23 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)–(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Industrials-(continued) |
| |||||||
United Parcel Service, Inc., Class B |
3,409 | $ | 727,719 | |||||
United Rentals, Inc.(b) |
340 | 128,897 | ||||||
Verisk Analytics, Inc. |
755 | 158,754 | ||||||
W.W. Grainger, Inc. |
207 | 95,864 | ||||||
Wabtec Corp. |
885 | 80,296 | ||||||
Waste Management, Inc. |
1,814 | 290,657 | ||||||
Xylem, Inc. |
839 | 109,565 | ||||||
|
|
|||||||
14,690,342 | ||||||||
|
|
|||||||
Information Technology-28.88% |
| |||||||
Accenture PLC, Class A |
2,968 | 1,064,889 | ||||||
Adobe, Inc.(b) |
2,230 | 1,450,303 | ||||||
Advanced Micro Devices, Inc.(b) |
5,680 | 682,906 | ||||||
Akamai Technologies, Inc.(b) |
764 | 80,571 | ||||||
Amphenol Corp., Class A |
2,799 | 214,879 | ||||||
Analog Devices, Inc. |
2,518 | 436,848 | ||||||
ANSYS, Inc.(b) |
408 | 154,869 | ||||||
Apple, Inc. |
73,506 | 11,011,199 | ||||||
Applied Materials, Inc. |
4,278 | 584,589 | ||||||
Arista Networks, Inc.(b) |
261 | 106,929 | ||||||
Autodesk, Inc.(b) |
1,030 | 327,138 | ||||||
Automatic Data Processing, Inc. |
1,982 | 444,939 | ||||||
Broadcom, Inc. |
1,920 | 1,020,806 | ||||||
Broadridge Financial Solutions, Inc. |
542 | 96,698 | ||||||
Cadence Design Systems, Inc.(b) |
1,297 | 224,524 | ||||||
CDW Corp. |
645 | 120,389 | ||||||
Ceridian HCM Holding, Inc.(b) |
633 | 79,283 | ||||||
Cisco Systems, Inc. |
19,728 | 1,104,176 | ||||||
Citrix Systems, Inc. |
582 | 55,133 | ||||||
Cognizant Technology Solutions Corp., Class A |
2,458 | 191,945 | ||||||
Corning, Inc. |
3,599 | 128,016 | ||||||
DXC Technology Co.(b) |
1,183 | 38,530 | ||||||
Enphase Energy, Inc.(b) |
631 | 146,158 | ||||||
F5 Networks, Inc.(b) |
282 | 59,544 | ||||||
Fidelity National Information Services, Inc. |
2,889 | 319,928 | ||||||
Fiserv, Inc.(b) |
2,789 | 274,689 | ||||||
FleetCor Technologies, Inc.(b) |
385 | 95,253 | ||||||
Fortinet, Inc.(b) |
636 | 213,912 | ||||||
Gartner, Inc.(b) |
390 | 129,445 | ||||||
Global Payments, Inc. |
1,375 | 196,611 | ||||||
Hewlett Packard Enterprise Co. |
6,115 | 89,585 | ||||||
HP, Inc. |
5,623 | 170,546 | ||||||
Intel Corp. |
18,992 | 930,608 | ||||||
International Business Machines Corp. |
4,197 | 525,045 | ||||||
Intuit, Inc. |
1,277 | 799,389 | ||||||
IPG Photonics Corp.(b) |
169 | 26,873 | ||||||
Jack Henry & Associates, Inc. |
350 | 58,268 | ||||||
Juniper Networks, Inc. |
1,523 | 44,959 | ||||||
Keysight Technologies, Inc.(b) |
862 | 155,177 | ||||||
KLA Corp. |
714 | 266,151 | ||||||
Lam Research Corp. |
665 | 374,774 | ||||||
Mastercard, Inc., Class A |
4,075 | 1,367,244 | ||||||
Microchip Technology, Inc. |
2,567 | 190,189 | ||||||
Micron Technology, Inc. |
5,267 | 363,950 | ||||||
Microsoft Corp. |
35,174 | 11,664,402 | ||||||
Monolithic Power Systems, Inc. |
205 | 107,719 | ||||||
Motorola Solutions, Inc. |
794 | 197,380 | ||||||
NetApp, Inc. |
1,049 | 93,676 | ||||||
NortonLifeLock, Inc. |
2,710 | 68,969 | ||||||
NVIDIA Corp. |
11,664 | 2,982,135 |
Shares | Value | |||||||
Information Technology-(continued) |
| |||||||
NXP Semiconductors N.V. (China) |
1,243 | $ | 249,669 | |||||
Oracle Corp. |
7,711 | 739,793 | ||||||
Paychex, Inc. |
1,499 | 184,797 | ||||||
Paycom Software, Inc.(b) |
223 | 122,171 | ||||||
PayPal Holdings, Inc.(b) |
5,500 | 1,279,245 | ||||||
PTC, Inc.(b) |
497 | 63,293 | ||||||
Qorvo, Inc.(b) |
518 | 87,143 | ||||||
QUALCOMM, Inc. |
5,278 | 702,185 | ||||||
salesforce.com, inc.(b) |
4,546 | 1,362,391 | ||||||
Seagate Technology Holdings PLC |
978 | 87,110 | ||||||
ServiceNow, Inc.(b) |
928 | 647,521 | ||||||
Skyworks Solutions, Inc. |
774 | 129,359 | ||||||
Synopsys, Inc.(b) |
713 | 237,557 | ||||||
TE Connectivity Ltd. |
1,537 | 224,402 | ||||||
Teledyne Technologies, Inc.(b) |
221 | 99,278 | ||||||
Teradyne, Inc. |
774 | 106,998 | ||||||
Texas Instruments, Inc. |
4,322 | 810,289 | ||||||
Trimble, Inc.(b) |
1,183 | 103,359 | ||||||
Tyler Technologies, Inc.(b) |
193 | 104,841 | ||||||
VeriSign, Inc.(b) |
458 | 101,983 | ||||||
Visa, Inc., Class A |
7,901 | 1,673,195 | ||||||
Western Digital Corp.(b) |
1,433 | 74,932 | ||||||
Western Union Co. (The) |
1,901 | 34,636 | ||||||
Xilinx, Inc. |
1,157 | 208,260 | ||||||
Zebra Technologies Corp., Class A(b) |
249 | 132,954 | ||||||
|
|
|||||||
51,099,499 | ||||||||
|
|
|||||||
Materials-2.58% |
| |||||||
Air Products and Chemicals, Inc. |
1,036 | 310,603 | ||||||
Albemarle Corp. |
546 | 136,757 | ||||||
Amcor PLC |
7,216 | 87,097 | ||||||
Avery Dennison Corp. |
387 | 84,258 | ||||||
Ball Corp. |
1,527 | 139,690 | ||||||
Celanese Corp. |
518 | 83,662 | ||||||
CF Industries Holdings, Inc. |
1,006 | 57,141 | ||||||
Corteva, Inc. |
3,438 | 148,350 | ||||||
Dow, Inc. |
3,489 | 195,279 | ||||||
DuPont de Nemours, Inc. |
2,447 | 170,311 | ||||||
Eastman Chemical Co. |
637 | 66,267 | ||||||
Ecolab, Inc. |
1,164 | 258,664 | ||||||
FMC Corp. |
603 | 54,879 | ||||||
Freeport-McMoRan, Inc. |
6,874 | 259,287 | ||||||
International Flavors & Fragrances, Inc. |
1,165 | 171,779 | ||||||
International Paper Co. |
1,832 | 90,995 | ||||||
Linde PLC (United Kingdom) |
2,419 | 772,145 | ||||||
LyondellBasell Industries N.V., Class A |
1,239 | 115,004 | ||||||
Martin Marietta Materials, Inc. |
293 | 115,102 | ||||||
Mosaic Co. (The) |
1,618 | 67,260 | ||||||
Newmont Corp. |
3,742 | 202,068 | ||||||
Nucor Corp. |
1,375 | 153,519 | ||||||
Packaging Corp. of America |
445 | 61,130 | ||||||
PPG Industries, Inc. |
1,108 | 177,912 | ||||||
Sealed Air Corp. |
700 | 41,524 | ||||||
Sherwin-Williams Co. (The) |
1,131 | 358,086 | ||||||
Vulcan Materials Co. |
622 | 118,255 | ||||||
WestRock Co. |
1,252 | 60,221 | ||||||
|
|
|||||||
4,557,245 | ||||||||
|
|
|||||||
Real Estate-2.72% |
||||||||
Alexandria Real Estate Equities, Inc. |
650 | 132,691 | ||||||
American Tower Corp. |
2,132 | 601,160 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
24 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Real Estate-(continued) |
| |||||||
AvalonBay Communities, Inc. |
655 | $ | 155,025 | |||||
Boston Properties, Inc. |
668 | 75,912 | ||||||
CBRE Group, Inc., Class A(b) |
1,569 | 163,301 | ||||||
Crown Castle International Corp. |
2,022 | 364,567 | ||||||
Digital Realty Trust, Inc. |
1,323 | 208,783 | ||||||
Duke Realty Corp. |
1,770 | 99,545 | ||||||
Equinix, Inc. |
420 | 351,569 | ||||||
Equity Residential |
1,594 | 137,722 | ||||||
Essex Property Trust, Inc. |
306 | 104,019 | ||||||
Extra Space Storage, Inc. |
627 | 123,751 | ||||||
Federal Realty Investment Trust |
329 | 39,595 | ||||||
Healthpeak Properties, Inc. |
2,523 | 89,592 | ||||||
Host Hotels & Resorts, Inc.(b) |
3,321 | 55,892 | ||||||
Iron Mountain, Inc. |
1,355 | 61,842 | ||||||
Kimco Realty Corp. |
2,874 | 64,952 | ||||||
Mid-America Apartment Communities, Inc. |
541 | 110,478 | ||||||
Prologis, Inc. |
3,461 | 501,707 | ||||||
Public Storage |
713 | 236,844 | ||||||
Realty Income Corp. |
2,606 | 186,147 | ||||||
Regency Centers Corp. |
725 | 51,047 | ||||||
SBA Communications Corp., Class A |
515 | 177,845 | ||||||
Simon Property Group, Inc. |
1,540 | 225,733 | ||||||
UDR, Inc. |
1,297 | 72,022 | ||||||
Ventas, Inc. |
1,844 | 98,414 | ||||||
Vornado Realty Trust |
744 | 31,717 | ||||||
Welltower, Inc. |
1,980 | 159,192 | ||||||
Weyerhaeuser Co. |
3,509 | 125,341 | ||||||
|
|
|||||||
4,806,405 | ||||||||
|
|
|||||||
Utilities-2.49% |
| |||||||
AES Corp. (The) |
3,119 | 78,380 | ||||||
Alliant Energy Corp. |
1,171 | 66,243 | ||||||
Ameren Corp. |
1,205 | 101,569 | ||||||
American Electric Power Co., Inc. |
2,340 | 198,221 | ||||||
American Water Works Co., Inc. |
849 | 147,879 | ||||||
Atmos Energy Corp. |
611 | 56,285 | ||||||
CenterPoint Energy, Inc. |
2,774 | 72,235 |
Shares | Value | |||||||
Utilities-(continued) |
| |||||||
CMS Energy Corp. |
1,356 | $ | 81,835 | |||||
Consolidated Edison, Inc. |
1,654 | 124,712 | ||||||
Dominion Energy, Inc. |
3,783 | 287,243 | ||||||
DTE Energy Co. |
907 | 102,808 | ||||||
Duke Energy Corp. |
3,603 | 367,542 | ||||||
Edison International |
1,777 | 111,827 | ||||||
Entergy Corp. |
943 | 97,148 | ||||||
Evergy, Inc. |
1,069 | 68,149 | ||||||
Eversource Energy |
1,603 | 136,095 | ||||||
Exelon Corp |
4,576 | 243,397 | ||||||
FirstEnergy Corp. |
2,549 | 98,213 | ||||||
NextEra Energy, Inc. |
9,183 | 783,585 | ||||||
NiSource, Inc. |
1,833 | 45,220 | ||||||
NRG Energy, Inc. |
1,145 | 45,674 | ||||||
Pinnacle West Capital Corp. |
534 | 34,438 | ||||||
PPL Corp. |
3,605 | 103,824 | ||||||
Public Service Enterprise Group, Inc. |
2,367 | 151,015 | ||||||
Sempra Energy |
1,494 | 190,679 | ||||||
Southern Co. (The) |
4,959 | 309,045 | ||||||
WEC Energy Group, Inc. |
1,477 | 133,019 | ||||||
Xcel Energy, Inc. |
2,520 | 162,767 | ||||||
|
|
|||||||
4,399,047 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
182,932,183 | ||||||
|
|
|||||||
Money Market Funds-0.06% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, |
113,157 | 113,157 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-103.45% |
|
183,045,340 | ||||||
OTHER ASSETS LESS LIABILITIES-(3.45)% |
|
(6,106,560 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 176,938,780 | |||||
|
|
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) |
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 (Depreciation) |
Realized Gain (Loss) |
Value October 31, 2021 |
Dividend Income |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Ltd. |
$ | 51,975 | $ | 1,122 | $ | (10,555 | ) | $ | (1,499 | ) | $ | (1,302 | ) | $ | 39,741 | $ | 628 | |||||||||||||||||||||||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
|
- | 1,694,194 | (1,581,037 | ) | - | - | 113,157 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
Total |
$ | 51,975 | $ | 1,695,316 | $ | (1,591,592 | ) | $ | (1,499 | ) | $ | (1,302 | ) | $ | 152,898 | $ | 638 | |||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(d) |
The rate shown is the 7-day SEC standardized yield as of October 31, 2021. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
25 |
||||
Invesco S&P 500 BuyWrite ETF (PBP)—(continued)
October 31, 2021
(Unaudited)
Open Exchange-Traded Index Options Written |
||||||||||||||||||||||||
Description | Type of Contract |
Expiration Date |
Number of Contracts |
Exercise Price |
Notional Value* |
Value | ||||||||||||||||||
Equity Risk |
||||||||||||||||||||||||
S&P 500 Index |
Call | 11/19/2021 | 397 | $4,470 | $177,459,000 | $(6,119,755 | ) |
* |
Notional Value is calculated by multiplying the Number of Contracts by the Exercise Price by the multiplier. |
Portfolio Composition
Sector Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021
Information Technology |
28.88 | |||||||
Health Care |
13.46 | |||||||
Consumer Discretionary |
13.25 | |||||||
Financials |
11.79 | |||||||
Communication Services |
11.19 | |||||||
Industrials |
8.30 | |||||||
Consumer Staples |
5.78 | |||||||
Sector Types Each Less Than 3% |
10.74 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
(3.39 | ) |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
26 |
||||
Invesco S&P 500® Quality ETF (SPHQ)
October 31, 2021
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.98% |
| |||||||
Communication Services-0.16% |
||||||||
Interpublic Group of Cos., Inc. (The) |
142,563 | $ | 5,213,529 | |||||
|
|
|||||||
Consumer Discretionary-6.40% |
||||||||
Best Buy Co., Inc. |
137,231 | 16,775,117 | ||||||
eBay, Inc. |
255,679 | 19,615,693 | ||||||
Etsy, Inc.(b)(c) |
64,830 | 16,252,233 | ||||||
Genuine Parts Co. |
59,247 | 7,767,874 | ||||||
Lennar Corp., Class A |
109,273 | 10,919,651 | ||||||
Newell Brands, Inc. |
144,332 | 3,303,759 | ||||||
NVR, Inc.(b) |
1,281 | 6,270,239 | ||||||
Pool Corp. |
15,716 | 8,096,254 | ||||||
PulteGroup, Inc. |
103,157 | 4,959,789 | ||||||
Ross Stores, Inc. |
158,565 | 17,949,558 | ||||||
Target Corp. |
209,802 | 54,468,795 | ||||||
TJX Cos., Inc. (The) |
494,863 | 32,408,578 | ||||||
Ulta Beauty, Inc.(b) |
22,638 | 8,316,296 | ||||||
Under Armour, Inc., Class A(b)(c) |
75,908 | 1,666,940 | ||||||
|
|
|||||||
208,770,776 | ||||||||
|
|
|||||||
Consumer Staples-8.09% |
||||||||
Brown-Forman Corp., Class B |
69,333 | 4,707,017 | ||||||
Campbell Soup Co. |
79,832 | 3,189,289 | ||||||
Clorox Co. (The) |
56,587 | 9,224,247 | ||||||
General Mills, Inc. |
215,261 | 13,303,130 | ||||||
Hershey Co. (The) |
55,911 | 9,803,994 | ||||||
Procter & Gamble Co. (The) |
1,022,170 | 146,160,088 | ||||||
Walmart, Inc. |
518,715 | 77,506,395 | ||||||
|
|
|||||||
263,894,160 | ||||||||
|
|
|||||||
Energy-0.56% |
||||||||
Baker Hughes Co., Class A |
344,887 | 8,649,766 | ||||||
Devon Energy Corp.(c) |
240,111 | 9,623,649 | ||||||
|
|
|||||||
18,273,415 | ||||||||
|
|
|||||||
Financials-24.49% |
||||||||
American Express Co. |
321,108 | 55,802,148 | ||||||
Ameriprise Financial, Inc. |
51,796 | 15,649,125 | ||||||
Assurant, Inc. |
23,842 | 3,845,953 | ||||||
Bank of America Corp. |
3,130,984 | 149,598,416 | ||||||
Capital One Financial Corp. |
243,529 | 36,780,185 | ||||||
Citizens Financial Group, Inc. |
170,310 | 8,069,288 | ||||||
Comerica, Inc. |
77,695 | 6,611,068 | ||||||
Discover Financial Services |
149,435 | 16,933,974 | ||||||
Huntington Bancshares, Inc. |
537,275 | 8,456,709 | ||||||
JPMorgan Chase & Co. |
939,206 | 159,561,707 | ||||||
M&T Bank Corp. |
52,040 | 7,656,125 | ||||||
MarketAxess Holdings, Inc. |
16,655 | 6,806,399 | ||||||
Moody’s Corp. |
58,068 | 23,468,182 | ||||||
PNC Financial Services Group, Inc. (The) |
183,490 | 38,721,895 | ||||||
Raymond James Financial, Inc. |
66,684 | 6,574,376 | ||||||
Regions Financial Corp. |
412,547 | 9,769,113 | ||||||
S&P Global, Inc.(c) |
127,840 | 60,616,614 | ||||||
Synchrony Financial |
226,050 | 10,500,022 | ||||||
T. Rowe Price Group, Inc.(c) |
82,548 | 17,903,010 | ||||||
U.S. Bancorp |
719,828 | 43,456,016 | ||||||
W.R. Berkley Corp. |
56,678 | 4,511,569 |
Shares | Value | |||||||
Financials-(continued) |
||||||||
Wells Fargo & Co. |
1,983,414 | $ | 101,471,460 | |||||
Zions Bancorporation N.A. |
90,927 | 5,727,492 | ||||||
|
|
|||||||
798,490,846 | ||||||||
|
|
|||||||
Health Care-11.80% |
||||||||
Abbott Laboratories |
662,942 | 85,446,594 | ||||||
Biogen, Inc.(b) |
35,544 | 9,478,874 | ||||||
Cardinal Health, Inc. |
149,472 | 7,146,256 | ||||||
Cigna Corp. |
138,091 | 29,497,618 | ||||||
Cooper Cos., Inc. (The) |
19,422 | 8,097,420 | ||||||
Eli Lilly and Co. |
250,439 | 63,801,840 | ||||||
Hologic, Inc.(b) |
99,306 | 7,280,123 | ||||||
IDEXX Laboratories, Inc.(b) |
39,859 | 26,551,674 | ||||||
Pfizer, Inc. |
2,122,313 | 92,829,971 | ||||||
Vertex Pharmaceuticals, Inc.(b) |
101,464 | 18,763,738 | ||||||
Zoetis, Inc. |
165,938 | 35,875,796 | ||||||
|
|
|||||||
384,769,904 | ||||||||
|
|
|||||||
Industrials-9.19% |
||||||||
3M Co.(c) |
224,222 | 40,063,987 | ||||||
A.O. Smith Corp. |
60,211 | 4,399,618 | ||||||
Allegion PLC |
35,983 | 4,616,619 | ||||||
Cintas Corp. |
31,123 | 13,479,371 | ||||||
Cummins, Inc. |
53,217 | 12,763,565 | ||||||
Fastenal Co. |
224,411 | 12,809,380 | ||||||
Fortive Corp. |
136,611 | 10,342,819 | ||||||
Generac Holdings, Inc.(b) |
21,855 | 10,896,029 | ||||||
Howmet Aerospace, Inc. |
148,611 | 4,412,260 | ||||||
Illinois Tool Works, Inc.(c) |
114,152 | 26,011,816 | ||||||
Lockheed Martin Corp. |
114,955 | 38,201,846 | ||||||
Northrop Grumman Corp. |
56,294 | 20,109,343 | ||||||
Robert Half International, Inc. |
51,638 | 5,838,709 | ||||||
Rollins, Inc. |
85,567 | 3,014,525 | ||||||
Snap-on, Inc. |
20,107 | 4,086,346 | ||||||
Trane Technologies PLC |
113,808 | 20,591,281 | ||||||
United Parcel Service, Inc., Class B |
317,932 | 67,868,944 | ||||||
|
|
|||||||
299,506,458 | ||||||||
|
|
|||||||
Information Technology-36.87% |
| |||||||
Adobe, Inc.(b) |
172,138 | 111,951,670 | ||||||
Apple, Inc. |
1,203,765 | 180,323,997 | ||||||
Applied Materials, Inc. |
355,336 | 48,556,664 | ||||||
Automatic Data Processing, Inc. |
159,511 | 35,808,624 | ||||||
Cisco Systems, Inc. |
1,731,818 | 96,929,854 | ||||||
Cognizant Technology Solutions Corp., Class A |
191,927 | 14,987,579 | ||||||
FleetCor Technologies, Inc.(b) |
30,648 | 7,582,622 | ||||||
Fortinet, Inc.(b) |
80,004 | 26,908,545 | ||||||
Jack Henry & Associates, Inc. |
25,832 | 4,300,511 | ||||||
KLA Corp. |
67,272 | 25,076,311 | ||||||
Lam Research Corp. |
56,849 | 32,038,391 | ||||||
Mastercard, Inc., Class A |
364,372 | 122,254,094 | ||||||
Microsoft Corp. |
603,470 | 200,122,721 | ||||||
Oracle Corp. |
709,929 | 68,110,588 | ||||||
Paychex, Inc. |
123,047 | 15,169,234 | ||||||
Qorvo, Inc.(b) |
41,430 | 6,969,769 | ||||||
Texas Instruments, Inc. |
406,128 | 76,140,877 | ||||||
Visa, Inc., Class A |
609,384 | 129,049,250 | ||||||
|
|
|||||||
1,202,281,301 | ||||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
27 |
||||
Invesco S&P 500® Quality ETF (SPHQ)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Materials-2.11% |
||||||||
Celanese Corp. |
46,480 | $ | 7,506,985 | |||||
Dow, Inc. |
268,409 | 15,022,852 | ||||||
Newmont Corp. |
312,764 | 16,889,256 | ||||||
Sherwin-Williams Co. (The) |
92,322 | 29,230,068 | ||||||
|
|
|||||||
68,649,161 | ||||||||
|
|
|||||||
Real Estate-0.31% |
||||||||
Weyerhaeuser Co. |
282,367 | 10,086,149 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
3,259,935,699 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-2.55% |
|
|||||||
Invesco Private Government Fund, 0.02%(d)(e)(f) |
24,970,640 | 24,970,640 |
Shares | Value | |||||||
Money Market Funds-(continued) |
| |||||||
Invesco Private Prime Fund, 0.11%(d)(e)(f) |
58,241,531 | $ | 58,264,828 | |||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
83,235,468 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-102.53% |
|
3,343,171,167 | ||||||
OTHER ASSETS LESS LIABILITIES-(2.53)% |
|
(82,497,746 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 3,260,673,421 | |||||
|
|
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 |
|
$ | 1,406,928 | $ | 29,126,758 | $ | (30,533,686 | ) | $ | - | $ | - | $ | - | $ | 265 | ||||||||||||||||||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Government Fund |
9,617,056 | 112,407,540 | (97,053,956 | ) | - | - | 24,970,640 | 784 | * | |||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Prime Fund |
14,425,585 | 249,162,731 | (205,323,489 | ) | 1 | - | 58,264,828 | 10,670 | * | |||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
Total |
$ | 25,449,569 | $ | 390,697,029 | $ | (332,911,131 | ) | $ | 1 | $ | - | $ | 83,235,468 | $ | 11,719 | |||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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.
28 |
||||
Invesco S&P 500® Quality ETF (SPHQ)—(continued)
October 31, 2021
(Unaudited)
Portfolio Composition
Sector Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021
Information Technology |
36.87 | |||||||
Financials |
24.49 | |||||||
Health Care |
11.80 | |||||||
Industrials |
9.19 | |||||||
Consumer Staples |
8.09 | |||||||
Consumer Discretionary |
6.40 | |||||||
Sector Types Each Less Than 3% |
3.14 | |||||||
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.
29 |
||||
Invesco S&P Spin-Off ETF (CSD)
October 31, 2021
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.98% |
| |||||||
Communication Services-4.44% |
| |||||||
Madison Square Garden Entertainment Corp.(b)(c) |
12,125 | $ | 854,449 | |||||
Vimeo, Inc.(b) |
74,700 | 2,519,631 | ||||||
|
|
|||||||
3,374,080 | ||||||||
|
|
|||||||
Consumer Discretionary-20.29% |
||||||||
frontdoor, inc.(b) |
41,264 | 1,538,322 | ||||||
Kontoor Brands, Inc. |
23,032 | 1,220,696 | ||||||
Penn National Gaming, Inc.(b)(c) |
79,918 | 5,722,129 | ||||||
Veoneer, Inc. (Sweden)(b)(c) |
48,490 | 1,706,848 | ||||||
Victoria’s Secret & Co.(b) |
36,139 | 1,823,935 | ||||||
Wyndham Hotels & Resorts, Inc. |
40,459 | 3,417,572 | ||||||
|
|
|||||||
15,429,502 | ||||||||
|
|
|||||||
Energy-8.94% |
||||||||
ChampionX Corp.(b) |
97,112 | 2,547,248 | ||||||
DT Midstream, Inc. |
46,614 | 2,235,607 | ||||||
Equitrans Midstream Corp. |
195,653 | 2,017,182 | ||||||
|
|
|||||||
6,800,037 | ||||||||
|
|
|||||||
Health Care-6.14% |
||||||||
Covetrus, Inc.(b) |
49,669 | 1,002,817 | ||||||
Organon & Co. |
99,892 | 3,671,031 | ||||||
|
|
|||||||
4,673,848 | ||||||||
|
|
|||||||
Industrials-31.86% |
||||||||
Arcosa, Inc. |
23,292 | 1,204,895 | ||||||
Carrier Global Corp. |
104,652 | 5,465,974 | ||||||
GXO Logistics, Inc.(b) |
42,477 | 3,771,958 | ||||||
IAA, Inc.(b) |
64,868 | 3,869,376 | ||||||
nVent Electric PLC |
80,898 | 2,867,834 | ||||||
Otis Worldwide Corp. |
66,438 | 5,335,636 | ||||||
Resideo Technologies, Inc.(b) |
69,385 | 1,711,034 | ||||||
|
|
|||||||
24,226,707 | ||||||||
|
|
|||||||
Information Technology-8.70% |
| |||||||
Concentrix Corp. |
18,362 | 3,262,560 | ||||||
Vontier Corp. |
99,232 | 3,357,019 | ||||||
|
|
|||||||
6,619,579 | ||||||||
|
|
Shares | Value | |||||||
Materials-14.53% |
||||||||
Corteva, Inc. |
131,089 | $ | 5,656,490 | |||||
Dow, Inc. |
96,321 | 5,391,086 | ||||||
|
|
|||||||
11,047,576 | ||||||||
|
|
|||||||
Real Estate-5.08% |
||||||||
Apartment Income REIT Corp. |
65,884 | 3,532,041 | ||||||
CorePoint Lodging, Inc.(b) |
19,132 | 329,836 | ||||||
|
|
|||||||
3,861,877 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
76,033,206 | ||||||
|
|
|||||||
Money Market Funds-0.17% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(d)(e) |
129,615 | 129,615 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
76,162,821 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-7.99% |
|
|||||||
Invesco Private Government Fund, |
1,822,874 | 1,822,874 | ||||||
Invesco Private Prime Fund, 0.11%(d)(e)(f) |
4,251,672 | 4,253,373 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
6,076,247 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-108.14% |
|
82,239,068 | ||||||
OTHER ASSETS LESS LIABILITIES-(8.14)% |
|
(6,190,285 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 76,048,783 | |||||
|
|
Investment Abbreviations:
REIT-Real Estate Investment Trust
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
30 |
||||
Invesco S&P Spin-Off ETF (CSD)—(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 |
Value |
Dividend |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
$ | 175,341 | $ | 3,111,769 | $ | (3,157,495 | ) | $ | - | $ | - | $ | 129,615 | $ | 27 | |||||||||||||||||||||||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Government Fund |
557,174 | 10,705,859 | (9,440,159 | ) | - | - | 1,822,874 | 93 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Prime Fund |
835,762 | 20,005,976 | (16,588,365 | ) | - | - | 4,253,373 | 1,271 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||
Total |
$ | 1,568,277 | $ | 33,823,604 | $ | (29,186,019 | ) | $ | - | $ | - | $ | 6,205,862 | $ | 1,391 | |||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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
Sector Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021
Industrials |
31.86 | |||||||
Consumer Discretionary |
20.29 | |||||||
Materials |
14.53 | |||||||
Energy |
8.94 | |||||||
Information Technology |
8.70 | |||||||
Health Care |
6.14 | |||||||
Real Estate |
5.08 | |||||||
Communication Services |
4.44 | |||||||
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.
31 |
||||
Invesco Water Resources ETF (PHO)
October 31, 2021
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-100.00% |
| |||||||
Building Products-13.07% |
| |||||||
A.O. Smith Corp. |
1,125,817 | $ | 82,263,448 | |||||
Advanced Drainage Systems, Inc. |
717,205 | 80,900,724 | ||||||
Zurn Water Solutions Corp.(b) |
2,797,517 | 101,493,917 | ||||||
|
|
|||||||
264,658,089 | ||||||||
|
|
|||||||
Chemicals-7.97% |
||||||||
Ecolab, Inc. |
726,558 | 161,455,719 | ||||||
|
|
|||||||
Commercial Services & Supplies-3.97% |
| |||||||
Tetra Tech, Inc.(b) |
457,653 | 80,391,326 | ||||||
|
|
|||||||
Construction & Engineering-2.52% |
| |||||||
Northwest Pipe Co.(c) |
113,096 | 2,687,161 | ||||||
Valmont Industries, Inc. |
202,501 | 48,389,639 | ||||||
|
|
|||||||
51,076,800 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components-4.16% |
| |||||||
Badger Meter, Inc. |
225,774 | 23,085,391 | ||||||
Itron, Inc.(b)(c) |
787,871 | 61,272,728 | ||||||
|
|
|||||||
84,358,119 | ||||||||
|
|
|||||||
Health Care Equipment & Supplies-7.78% |
| |||||||
Danaher Corp. |
505,115 | 157,479,703 | ||||||
|
|
|||||||
Industrial Conglomerates-8.16% |
| |||||||
Roper Technologies, Inc. |
338,810 | 165,295,235 | ||||||
|
|
|||||||
Life Sciences Tools & Services-7.18% |
| |||||||
Waters Corp.(c) |
395,477 | 145,357,571 | ||||||
|
|
|||||||
Machinery-26.39% |
| |||||||
Energy Recovery, Inc.(b)(c) |
779,943 | 15,848,442 | ||||||
Evoqua Water Technologies Corp.(b)(c) |
1,572,956 | 65,796,750 | ||||||
Franklin Electric Co., Inc. |
293,330 | 25,337,845 | ||||||
Gorman-Rupp Co. (The) |
141,817 | 6,030,059 | ||||||
IDEX Corp. |
365,487 | 81,346,442 | ||||||
Lindsay Corp. |
103,902 | 15,135,404 | ||||||
Mueller Industries, Inc. |
490,493 | 25,819,552 | ||||||
Mueller Water Products, Inc., Class A |
1,607,810 | 26,384,162 | ||||||
Pentair PLC(b) |
1,061,025 | 78,484,019 | ||||||
Toro Co. (The)(b) |
744,669 | 71,093,549 | ||||||
Watts Water Technologies, Inc., Class A |
235,199 | 44,692,514 | ||||||
Xylem, Inc.(b) |
600,602 | 78,432,615 | ||||||
|
|
|||||||
534,401,353 | ||||||||
|
|
|||||||
Professional Services-0.29% |
| |||||||
Stantec, Inc. (Canada) |
105,391 | 5,828,122 | ||||||
|
|
Investment Abbreviations:
ADR-American Depositary Receipt
Shares | Value | |||||||
Water Utilities-18.51% |
| |||||||
American States Water Co.(b) |
339,839 | $ | 30,870,975 | |||||
American Water Works Co., Inc. |
898,426 | 156,487,841 | ||||||
Artesian Resources Corp., Class A |
65,691 | 2,642,092 | ||||||
California Water Service Group |
391,192 | 23,815,769 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo, ADR (Brazil)(b) |
3,445,474 | 21,637,577 | ||||||
Consolidated Water Co. Ltd. |
245,161 | 2,723,739 | ||||||
Essential Utilities, Inc. |
1,647,009 | 77,524,713 | ||||||
Global Water Resources, Inc. |
59,126 | 1,118,664 | ||||||
Middlesex Water Co. |
396,210 | 43,630,645 | ||||||
SJW Group |
164,575 | 10,848,784 | ||||||
York Water Co. (The) |
75,932 | 3,638,661 | ||||||
|
|
|||||||
374,939,460 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
2,025,241,497 | ||||||
|
|
|||||||
Money Market Funds-0.08% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional |
1,672,153 | 1,672,153 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
2,026,913,650 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-1.73% |
| |||||||
Invesco Private Government Fund, 0.02%(d)(e)(f) |
10,530,131 | 10,530,131 | ||||||
Invesco Private Prime Fund, 0.11%(d)(e)(f) |
24,560,482 | 24,570,306 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
35,100,437 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-101.81% |
|
2,062,014,087 | ||||||
OTHER ASSETS LESS LIABILITIES-(1.81)% |
|
(36,675,767 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 2,025,338,320 | |||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
32 |
||||
Invesco Water Resources ETF (PHO)—(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) |
All or a portion of this security was out on loan at October 31, 2021. |
(c) |
Non-income producing security. |
(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 |
Value |
Dividend |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
$ | 1,323,600 | $ | 12,303,170 | $ | (11,954,617 | ) | $ | - | $ | - | $ | 1,672,153 | $ | 241 | |||||||||||||||||||||||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Government Fund |
10,980,288 | 73,593,743 | (74,043,900 | ) | - | - | 10,530,131 | 876 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Invesco Private Prime Fund |
16,470,432 | 143,233,435 | (135,133,561 | ) | - | - | 24,570,306 | 12,905 | * | |||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||
Total |
$ | 28,774,320 | $ | 229,130,348 | $ | (221,132,078 | ) | $ | - | $ | - | $ | 36,772,590 | $ | 14,022 | |||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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
Machinery |
26.39 | |||||||
Water Utilities |
18.51 | |||||||
Building Products |
13.07 | |||||||
Industrial Conglomerates |
8.16 | |||||||
Chemicals |
7.97 | |||||||
Health Care Equipment & Supplies |
7.78 | |||||||
Life Sciences Tools & Services |
7.18 | |||||||
Electronic Equipment, Instruments & Components |
4.16 | |||||||
Commercial Services & Supplies |
3.97 | |||||||
Industry Types Each Less Than 3% |
2.81 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
0.00 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
33 |
||||
Invesco WilderHill Clean Energy ETF (PBW)
October 31, 2021
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.93% |
| |||||||
Airlines-1.08% |
||||||||
Joby Aviation, Inc.(b)(c) |
2,488,680 | $ | 21,601,742 | |||||
|
|
|||||||
Auto Components-3.91% |
||||||||
Gentherm, Inc.(b) |
309,488 | 22,787,601 | ||||||
Kandi Technologies Group, Inc. |
5,625,685 | 24,640,500 | ||||||
QuantumScape Corp.(b)(c) |
1,065,057 | 30,822,750 | ||||||
|
|
|||||||
78,250,851 | ||||||||
|
|
|||||||
Automobiles-12.61% |
||||||||
Arcimoto, Inc.(b)(c)(d) |
2,071,093 | 24,190,366 | ||||||
AYRO, Inc.(b)(c)(d) |
2,452,072 | 7,233,612 | ||||||
Canoo, Inc.(b)(c) |
3,674,170 | 29,466,843 | ||||||
ElectraMeccanica Vehicles Corp. (Canada)(b)(c)(d) |
6,995,921 | 24,835,520 | ||||||
Fisker, Inc.(b)(c) |
1,761,809 | 28,277,035 | ||||||
Lordstown Motors Corp., Class A(b)(c) |
3,676,429 | 19,007,138 | ||||||
NIO, Inc., ADR (China)(b) |
704,391 | 27,760,049 | ||||||
Tesla, Inc.(b) |
33,426 | 37,236,564 | ||||||
Workhorse Group, Inc.(b)(c) |
3,393,668 | 22,839,386 | ||||||
XPeng, Inc., ADR (China)(b) |
680,546 | 31,733,860 | ||||||
|
|
|||||||
252,580,373 | ||||||||
|
|
|||||||
Chemicals-4.11% |
||||||||
Albemarle Corp. |
112,629 | 28,210,186 | ||||||
Livent Corp.(b)(c) |
1,025,142 | 28,929,507 | ||||||
Sociedad Quimica y Minera de Chile S.A., ADR (Chile) |
460,876 | 25,297,484 | ||||||
|
|
|||||||
82,437,177 | ||||||||
|
|
|||||||
Commercial Services & Supplies-1.57% |
| |||||||
Li-Cycle Holdings Corp. (Canada)(b)(c) |
2,438,321 | 31,551,874 | ||||||
|
|
|||||||
Construction & Engineering-6.91% |
| |||||||
Ameresco, Inc., Class A(b) |
382,349 | 31,402,323 | ||||||
Infrastructure and Energy Alternatives, Inc.(b)(c)(d) |
2,060,428 | 22,808,938 | ||||||
MYR Group, Inc.(b) |
245,346 | 25,062,094 | ||||||
Quanta Services, Inc. |
207,732 | 25,193,737 | ||||||
ReneSola Ltd., ADR (China)(b)(c)(d) |
3,823,458 | 33,990,542 | ||||||
|
|
|||||||
138,457,634 | ||||||||
|
|
|||||||
Electrical Equipment-26.71% |
| |||||||
Advent Technologies Holdings, |
2,875,194 | 27,573,110 | ||||||
American Superconductor Corp.(b)(d) |
1,730,136 | 31,799,900 | ||||||
Array Technologies, Inc.(b) |
1,439,596 | 30,735,375 | ||||||
Ballard Power Systems, Inc. |
1,599,402 | 28,981,164 | ||||||
Beam Global(b)(c)(d) |
951,434 | 29,970,171 | ||||||
Blink Charging Co.(b)(c) |
804,891 | 25,595,534 | ||||||
Bloom Energy Corp., Class A(b)(c) |
1,289,920 | 40,322,899 | ||||||
ChargePoint Holdings, Inc.(b) |
1,184,309 | 29,347,177 | ||||||
Enovix Corp.(b)(c) |
1,421,539 | 37,528,630 | ||||||
Eos Energy Enterprises, Inc.(b)(c) |
1,832,841 | 19,336,473 | ||||||
FTC Solar, Inc.(b) |
2,984,461 | 28,471,758 | ||||||
FuelCell Energy, Inc.(b)(c) |
3,734,265 | 29,836,777 | ||||||
Plug Power, Inc.(b)(c) |
923,862 | 35,356,199 | ||||||
Romeo Power, Inc.(c) |
5,039,447 | 21,871,200 | ||||||
Shoals Technologies Group, Inc., |
760,161 | 23,557,389 | ||||||
Stem, Inc.(b) |
1,071,687 | 25,409,699 |
Shares | Value | |||||||
Electrical Equipment-(continued) |
| |||||||
Sunrun, Inc.(b) |
616,950 | $ | 35,585,676 | |||||
Sunworks, Inc.(b)(c)(d) |
1,432,788 | 8,697,023 | ||||||
TPI Composites, Inc.(b) |
743,773 | 25,013,086 | ||||||
|
|
|||||||
534,989,240 | ||||||||
|
|
|||||||
Electronic Equipment, Instruments & Components-2.49% |
| |||||||
Advanced Energy Industries, Inc. |
283,824 | 26,060,719 | ||||||
Itron, Inc.(b) |
306,884 | 23,866,369 | ||||||
|
|
|||||||
49,927,088 | ||||||||
|
|
|||||||
Independent Power and Renewable Electricity Producers-6.07% |
| |||||||
Azure Power Global Ltd. (India)(b) |
1,240,534 | 29,512,304 | ||||||
Ormat Technologies, Inc.(c) |
386,257 | 27,937,969 | ||||||
ReNew Energy Global PLC, Class A (India)(b) |
2,818,517 | 28,044,244 | ||||||
Sunnova Energy International, Inc.(b) |
809,560 | 36,073,993 | ||||||
|
|
|||||||
121,568,510 | ||||||||
|
|
|||||||
Machinery-5.31% |
||||||||
ESCO Technologies, Inc. |
323,555 | 27,359,811 | ||||||
GreenPower Motor Co., Inc. |
1,822,250 | 26,094,620 | ||||||
Lion Electric Co. (The) (Canada)(b)(c) |
2,018,226 | 28,759,720 | ||||||
Woodward, Inc. |
214,102 | 24,182,821 | ||||||
|
|
|||||||
106,396,972 | ||||||||
|
|
|||||||
Metals & Mining-6.51% |
||||||||
Lithium Americas Corp. (Canada)(b)(c) |
1,140,471 | 33,096,468 | ||||||
MP Materials Corp.(b) |
789,309 | 26,718,110 | ||||||
Piedmont Lithium, Inc.(b) |
479,637 | 29,900,571 | ||||||
Standard Lithium Ltd. (Canada)(b) |
3,571,998 | 40,613,617 | ||||||
|
|
|||||||
130,328,766 | ||||||||
|
|
|||||||
Oil, Gas & Consumable Fuels-3.27% |
| |||||||
Gevo, Inc.(b)(c) |
4,145,101 | 29,969,080 | ||||||
Renewable Energy Group, Inc.(b) |
556,223 | 35,598,272 | ||||||
|
|
|||||||
65,567,352 | ||||||||
|
|
|||||||
Professional Services-1.24% |
||||||||
Willdan Group, Inc.(b)(d) |
740,488 | 24,754,514 | ||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment-16.76% |
| |||||||
Canadian Solar, Inc. (Canada)(b)(c) |
738,912 | 30,701,794 | ||||||
Daqo New Energy Corp., ADR (China)(b) |
427,609 | 33,263,704 | ||||||
Enphase Energy, Inc.(b) |
157,180 | 36,407,603 | ||||||
First Solar, Inc.(b) |
272,871 | 32,632,643 | ||||||
JinkoSolar Holding Co. Ltd., ADR (China)(b)(c) |
560,892 | 33,552,559 | ||||||
Maxeon Solar Technologies Ltd.(b) |
1,375,140 | 30,981,904 | ||||||
SolarEdge Technologies, Inc.(b) |
88,215 | 31,288,096 | ||||||
SPI Energy Co. Ltd. (Australia)(b)(c)(d) |
1,588,473 | 7,831,172 | ||||||
SunPower Corp.(b)(c) |
1,238,857 | 41,699,927 | ||||||
Universal Display Corp. |
124,910 | 22,883,512 | ||||||
Wolfspeed, Inc.(b) |
287,842 | 34,572,703 | ||||||
|
|
|||||||
335,815,617 | ||||||||
|
|
|||||||
Specialty Retail-1.38% |
| |||||||
EVgo, Inc.(b)(c) |
2,971,102 | 27,690,671 | ||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
2,001,918,381 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
34 |
||||
Invesco WilderHill Clean Energy ETF (PBW)—(continued)
October 31, 2021
(Unaudited)
Shares | Value | |||||||
Money Market Funds-0.10% |
| |||||||
Invesco Government & Agency Portfolio, Institutional
Class, 0.03%(d)(e) |
2,113,195 | $ | 2,113,195 | |||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
2,004,031,576 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-22.55% |
| |||||||
Invesco Private Government Fund, 0.02%(d)(e)(f) |
135,507,496 | 135,507,496 |
Shares | Value | |||||||
Money Market Funds-(continued) |
| |||||||
Invesco Private Prime Fund, |
316,057,733 | $ | 316,184,159 | |||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
451,691,655 | |||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-122.58% |
|
2,455,723,231 | ||||||
OTHER ASSETS LESS LIABILITIES-(22.58)% |
|
(452,402,723 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 2,003,320,508 | |||||
|
|
Investment Abbreviations:
ADR-American Depositary Receipt
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 is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or the Investment Company Act of 1940, as amended (the “1940 Act”), defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. The Fund has not owned enough of the outstanding voting securities of the issuer to have control (as defined in the 1940 Act) of that issuer. 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 (Depreciation) |
Realized
Gain (Loss) |
Value October 31, 2021 |
Dividend Income |
||||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
||||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
$ | 1,137,874 | $ | 64,891,661 | $ | (63,916,340 | ) | $ | - | $ | - | $ | 2,113,195 | $ | 271 | |||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
||||||||||||||||||||||||||||||||||||
Invesco Private Government Fund |
286,190,190 | 330,716,750 | (481,399,444 | ) | - | - | 135,507,496 | 12,188 | * | |||||||||||||||||||||||||||
Invesco Private Prime Fund |
436,157,584 | 649,464,811 | (769,438,234 | ) | (2 | ) | - | 316,184,159 | 185,458 | * |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
35 |
||||
Invesco WilderHill Clean Energy ETF (PBW)—(continued)
October 31, 2021
(Unaudited)
Value April 30, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change in Unrealized Appreciation (Depreciation) |
Realized Gain (Loss) |
Value October 31, 2021 |
Dividend Income |
||||||||||||||||||||||||||||||||||||||
Investments in Other Affiliates: |
||||||||||||||||||||||||||||||||||||||||||||
Advent Technologies Holdings, Inc. |
$ | 29,359,271 | $ | 17,599,909 | $ | (13,683,147 | ) | $ | (3,759,718 | ) | $ | (1,943,205 | ) | $ | 27,573,110 | $ | - | |||||||||||||||||||||||||||
Aemetis, Inc.** |
28,235,973 | 3,991,653 | (22,207,595 | ) | 6,458,982 | (16,479,013 | ) | - | - | |||||||||||||||||||||||||||||||||||
American Superconductor Corp. |
25,834,117 | 19,503,590 | (15,250,035 | ) | 3,654,153 | (1,941,925 | ) | 31,799,900 | - | |||||||||||||||||||||||||||||||||||
Arcimoto, Inc. |
23,013,807 | 13,443,903 | (14,070,798 | ) | 2,847,061 | (1,043,607 | ) | 24,190,366 | - | |||||||||||||||||||||||||||||||||||
AYRO, Inc. |
24,798,688 | 7,544,522 | (18,400,720 | ) | (2,725,628 | ) | (3,983,250 | ) | 7,233,612 | - | ||||||||||||||||||||||||||||||||||
Beam Global |
33,428,879 | 15,416,616 | (16,449,844 | ) | 899,686 | (3,325,166 | ) | 29,970,171 | - | |||||||||||||||||||||||||||||||||||
Broadwind, Inc.** |
10,844,406 | 405,670 | (5,468,422 | ) | 6,477,458 | (12,259,112 | ) | - | - | |||||||||||||||||||||||||||||||||||
ElectraMeccanica Vehicles Corp. |
28,518,659 | 14,646,426 | (13,037,007 | ) | (3,224,483 | ) | (2,068,075 | ) | 24,835,520 | - | ||||||||||||||||||||||||||||||||||
Flux Power Holdings, Inc.** |
10,954,842 | 4,122,697 | (8,827,501 | ) | 8,017,670 | (14,267,708 | ) | - | - | |||||||||||||||||||||||||||||||||||
GreenPower Motor Co., Inc. |
30,664,650 | 17,347,736 | (13,881,906 | ) | (5,633,914 | ) | (2,401,946 | ) | 26,094,620 | - | ||||||||||||||||||||||||||||||||||
Infrastructure and Energy Alternatives, Inc.** |
33,000,242 | 14,300,117 | (19,190,479 | ) | (2,486,772 | ) | (2,814,170 | ) | 22,808,938 | - | ||||||||||||||||||||||||||||||||||
Kandi Technologies Group, Inc. |
35,546,964 | 14,076,827 | (16,945,146 | ) | (5,825,546 | ) | (2,212,599 | ) | 24,640,500 | - | ||||||||||||||||||||||||||||||||||
ReneSola Ltd., ADR |
36,231,902 | 20,161,284 | (17,390,667 | ) | (547,296 | ) | (4,464,681 | ) | 33,990,542 | - | ||||||||||||||||||||||||||||||||||
SPI Energy Co. Ltd. |
10,917,211 | 4,538,157 | (4,717,023 | ) | (2,251,049 | ) | (656,124 | ) | 7,831,172 | - | ||||||||||||||||||||||||||||||||||
Sunworks, Inc.** |
33,210,174 | 11,788,435 | (19,435,655 | ) | (2,495,127 | ) | (14,370,804 | ) | 8,697,023 | - | ||||||||||||||||||||||||||||||||||
Willdan Group, Inc. |
35,530,087 | 12,734,210 | (19,685,906 | ) | (4,313,591 | ) | 489,714 | 24,754,514 | - | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total |
$ | 1,153,575,520 | $ | 1,236,694,974 | $ | (1,553,395,869 | ) | $ | (4,908,116 | ) | $ | (83,741,671 | ) | $ | 748,224,838 | $ | 197,917 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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. |
** |
As of October 31, 2021, this security was not considered as an affiliate of the Fund. |
(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. |
This Fund has holdings greater than 10% of net assets in the following country:
Canada | 12.21 | % |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
36 |
||||
Invesco WilderHill Clean Energy ETF (PBW)—(continued)
October 31, 2021
(Unaudited)
Portfolio Composition
Industry Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021
Electrical Equipment |
26.71 | |||||||
Semiconductors & Semiconductor Equipment |
16.76 | |||||||
Automobiles |
12.61 | |||||||
Construction & Engineering |
6.91 | |||||||
Metals & Mining |
6.51 | |||||||
Independent Power and Renewable Electricity Producers |
6.07 | |||||||
Machinery |
5.31 | |||||||
Chemicals |
4.11 | |||||||
Auto Components |
3.91 | |||||||
Oil, Gas & Consumable Fuels |
3.27 | |||||||
Industry Types Each Less Than 3% |
7.76 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
0.07 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
37 |
||||
Statements of Assets and Liabilities
October 31, 2021
(Unaudited)
Invesco Aerospace & Defense ETF (PPA) |
Invesco DWA Momentum ETF (PDP) |
Invesco Global Listed Private Equity ETF (PSP) |
Invesco Golden Dragon China ETF (PGJ) |
|||||||||||||||||||||
Assets: |
||||||||||||||||||||||||
Unaffiliated investments in securities, at value(a) |
$ | 682,217,796 | $ | 1,881,813,304 | $ | 261,444,743 | $ | 239,195,921 | ||||||||||||||||
Affiliated investments in securities, at value |
48,527,154 | 125,546,015 | 52,125,569 | 74,535,202 | ||||||||||||||||||||
Other investments: |
||||||||||||||||||||||||
Unrealized appreciation on swap agreements – OTC |
- | - | 401,522 | - | ||||||||||||||||||||
Cash |
- | - | 717 | - | ||||||||||||||||||||
Receivable for: |
||||||||||||||||||||||||
Dividends |
209,571 | 170,705 | 238,570 | 9,372 | ||||||||||||||||||||
Securities lending |
2,959 | 10,398 | 9,164 | 137,678 | ||||||||||||||||||||
Investments sold |
- | - | 71 | 60 | ||||||||||||||||||||
Investments sold - affiliated broker |
- | - | - | - | ||||||||||||||||||||
Fund shares sold |
- | - | - | 1,771,682 | ||||||||||||||||||||
Foreign tax reclaims |
- | - | 668,790 | - | ||||||||||||||||||||
Other assets |
657 | - | - | - | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total assets |
730,958,137 | 2,007,540,422 | 314,889,146 | 315,649,915 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Liabilities: |
||||||||||||||||||||||||
Other investments: |
||||||||||||||||||||||||
Open written options, at value |
- | - | - | - | ||||||||||||||||||||
Due to custodian |
- | - | - | - | ||||||||||||||||||||
Due to foreign custodian |
- | - | 360,492 | - | ||||||||||||||||||||
Payable for: |
||||||||||||||||||||||||
Investments purchased |
- | - | - | 1,765,256 | ||||||||||||||||||||
Investments purchased - affiliated broker |
- | - | - | - | ||||||||||||||||||||
Collateral upon return of securities loaned |
47,990,425 | 125,293,592 | 36,465,484 | 74,261,563 | ||||||||||||||||||||
Fund shares repurchased |
- | - | - | - | ||||||||||||||||||||
Expenses recaptured |
- | - | - | - | ||||||||||||||||||||
Accrued unitary management fees |
- | - | - | - | ||||||||||||||||||||
Accrued advisory fees |
292,952 | 795,642 | 112,465 | 75,146 | ||||||||||||||||||||
Accrued trustees’ and officer’s fees |
87,723 | 183,371 | 92,128 | 96,301 | ||||||||||||||||||||
Accrued expenses |
544,200 | 75,173 | 146,686 | 274,465 | ||||||||||||||||||||
Other payables |
- | - | - | 60 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total liabilities |
48,915,300 | 126,347,778 | 37,177,255 | 76,472,791 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Assets |
$ | 682,042,837 | $ | 1,881,192,644 | $ | 277,711,891 | $ | 239,177,124 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net assets consist of: |
||||||||||||||||||||||||
Shares of beneficial interest |
$ | 607,471,502 | $ | 1,875,269,822 | $ | 300,643,515 | $ | 514,179,812 | ||||||||||||||||
Distributable earnings (loss) |
74,571,335 | 5,922,822 | (22,931,624 | ) | (275,002,688 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Assets |
$ | 682,042,837 | $ | 1,881,192,644 | $ | 277,711,891 | $ | 239,177,124 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) |
9,300,000 | 19,270,000 | 17,000,000 | 5,400,000 | ||||||||||||||||||||
Net asset value |
$ | 73.34 | $ | 97.62 | $ | 16.34 | $ | 44.29 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Market price |
$ | 73.23 | $ | 97.54 | $ | 16.40 | $ | 44.26 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Unaffiliated investments in securities, at cost |
$ | 599,269,076 | $ | 1,643,983,692 | $ | 205,768,644 | $ | 278,788,101 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Affiliated investments in securities, at cost |
$ | 48,527,154 | $ | 125,546,014 | $ | 52,125,568 | $ | 74,535,202 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Foreign currencies (due to foreign custodian), at cost |
$ | - | $ | - | $ | (363,047 | ) | $ | - | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Premium received on written options |
$ | - | $ | - | $ | - | $ | - | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
(a) Includes securities on loan with an aggregate value of: |
$ | 47,104,569 | $ | 123,334,557 | $ | 35,282,379 | $ | 70,134,369 | ||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
38 |
||||
Invesco MSCI Sustainable Future ETF (ERTH) |
Invesco Raymond James SB-1 Equity ETF (RYJ) |
Invesco S&P 500 BuyWrite ETF (PBP) |
Invesco S&P 500® Quality ETF (SPHQ) |
Invesco S&P Spin-Off ETF (CSD) |
Invesco Water Resources ETF (PHO) |
Invesco WilderHill Clean Energy ETF (PBW) |
||||||||||||||||||||||||||||||||||||||||||||||||
$ | 446,341,102 | $ | 140,623,457 | $ | 182,892,442 | $ | 3,259,935,699 | $ | 76,033,206 | $ | 2,025,241,497 | $ | 1,739,004,354 | |||||||||||||||||||||||||||||||||||||||||
93,329,139 | 13,417,009 | 152,898 | 83,235,468 | 6,205,862 | 36,772,590 | 716,718,877 | ||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
86,031 | 33,528 | 140,970 | 3,677,718 | 31,309 | 527,775 | 47 | ||||||||||||||||||||||||||||||||||||||||||||||||
18,268 | 2,527 | - | 4,715 | 762 | 3,961 | 1,476,800 | ||||||||||||||||||||||||||||||||||||||||||||||||
103,859 | 5,626,083 | 6,199,826 | - | - | 66 | 8,638,632 | ||||||||||||||||||||||||||||||||||||||||||||||||
- | 2,289,860 | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
491,524 | 754 | - | - | - | 1,278 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
657 | - | - | 1,882 | 3,552 | - | 2,324 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
540,370,580 | 161,993,218 | 189,386,136 | 3,346,855,482 | 82,274,691 | 2,062,547,167 | 2,465,841,034 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
- | - | 6,119,755 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
447,457 | 762,426 | 16,449 | 2,314,622 | - | 805 | - | ||||||||||||||||||||||||||||||||||||||||||||||||
12,465 | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
- | 661,828 | 203,470 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
- | 2,621,370 | 55,792 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
93,329,138 | 13,417,009 | - | 83,235,467 | 6,076,247 | 35,100,437 | 451,691,653 | ||||||||||||||||||||||||||||||||||||||||||||||||
103,847 | 3,803,760 | 5,977,662 | - | - | - | 8,779,419 | ||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 329 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
- | 89,687 | 74,228 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
174,892 | - | - | 311,259 | 32,119 | 834,427 | 772,021 | ||||||||||||||||||||||||||||||||||||||||||||||||
63,782 | - | - | 112,586 | 9,056 | 234,470 | 118,846 | ||||||||||||||||||||||||||||||||||||||||||||||||
21,457 | - | - | 208,127 | 108,157 | 1,038,708 | 1,158,587 | ||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
94,153,038 | 21,356,080 | 12,447,356 | 86,182,061 | 6,225,908 | 37,208,847 | 462,520,526 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 446,217,542 | $ | 140,637,138 | $ | 176,938,780 | $ | 3,260,673,421 | $ | 76,048,783 | $ | 2,025,338,320 | $ | 2,003,320,508 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 357,278,129 | $ | 171,883,221 | $ | 167,492,392 | $ | 2,640,887,382 | $ | 214,771,781 | $ | 1,622,518,104 | $ | 2,806,599,519 | |||||||||||||||||||||||||||||||||||||||||
88,939,413 | (31,246,083 | ) | 9,446,388 | 619,786,039 | (138,722,998 | ) | 402,820,216 | (803,279,011 | ) | |||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 446,217,542 | $ | 140,637,138 | $ | 176,938,780 | $ | 3,260,673,421 | $ | 76,048,783 | $ | 2,025,338,320 | $ | 2,003,320,508 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
6,200,000 | 2,222,822 | 7,400,000 | 63,330,000 | 1,170,000 | 34,960,000 | 22,528,273 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 71.97 | $ | 63.27 | $ | 23.91 | $ | 51.49 | $ | 65.00 | $ | 57.93 | $ | 88.92 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 72.01 | $ | 63.21 | $ | 23.88 | $ | 51.47 | $ | 64.98 | $ | 57.88 | $ | 88.85 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 362,189,236 | $ | 113,746,902 | $ | 104,029,210 | $ | 2,709,799,161 | $ | 58,981,397 | $ | 1,477,697,632 | $ | 1,831,827,166 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 93,329,138 | $ | 13,417,009 | $ | 162,766 | $ | 83,235,467 | $ | 6,205,862 | $ | 36,772,590 | $ | 848,990,135 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | (12,454 | ) | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | - | $ | - | $ | 2,461,885 | $ | - | $ | - | $ | - | $ | - | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||
$ | 90,056,000 | $ | 13,051,774 | $ | - | $ | 82,583,761 | $ | 5,862,891 | $ | 34,163,725 | $ | 446,490,260 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
39 |
||||
For the six months ended October 31, 2021
(Unaudited)
Invesco Aerospace & Defense ETF (PPA) |
Invesco DWA Momentum ETF (PDP) |
Invesco Global Listed Private Equity ETF (PSP) |
Invesco Golden Dragon China |
|||||||||||||||||||||||||||||||||
Investment income: |
||||||||||||||||||||||||||||||||||||
Unaffiliated dividend income |
$ | 3,934,690 | $ | 4,273,821 | $ | 4,431,754 | $ | 205,857 | ||||||||||||||||||||||||||||
Affiliated dividend income |
119 | 93 | 1,698 | 52 | ||||||||||||||||||||||||||||||||
Non-cash dividend income |
- | - | 2,657,103 | - | ||||||||||||||||||||||||||||||||
Securities lending income |
15,777 | 61,592 | 50,646 | 421,598 | ||||||||||||||||||||||||||||||||
Foreign withholding tax |
(14,754 | ) | - | (119,487 | ) | (6,788 | ) | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total investment income |
3,935,832 | 4,335,506 | 7,021,714 | 620,719 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Expenses: |
||||||||||||||||||||||||||||||||||||
Unitary management fees |
- | - | - | - | ||||||||||||||||||||||||||||||||
Advisory fees |
1,799,250 | 4,558,239 | 643,468 | 593,913 | ||||||||||||||||||||||||||||||||
Sub-licensing fees |
215,906 | 911,641 | 128,693 | 118,782 | ||||||||||||||||||||||||||||||||
Accounting & administration fees |
29,267 | 61,393 | 11,783 | 12,950 | ||||||||||||||||||||||||||||||||
Custodian & transfer agent fees |
2,941 | 5,442 | 8,151 | 45,001 | ||||||||||||||||||||||||||||||||
Trustees’ and officer’s fees |
10,238 | 18,948 | 8,252 | 8,764 | ||||||||||||||||||||||||||||||||
Recapture (Note 3) |
- | - | - | - | ||||||||||||||||||||||||||||||||
Tax expenses |
- | - | - | - | ||||||||||||||||||||||||||||||||
Other expenses |
65,321 | 72,260 | 33,413 | 31,373 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total expenses |
2,122,923 | 5,627,923 | 833,760 | 810,783 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Less: Waivers |
(17 | ) | (3 | ) | (99 | ) | (4 | ) | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net expenses |
2,122,906 | 5,627,920 | 833,661 | 810,779 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net investment income (loss) |
1,812,926 | (1,292,414 | ) | 6,188,053 | (190,060 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Realized and unrealized gain (loss) from: |
||||||||||||||||||||||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||||||||||||||||||||||
Unaffiliated investment securities |
(3,249,562 | ) | (83,076,083 | ) | 2,719,303 | (9,764,759 | ) | |||||||||||||||||||||||||||||
Affiliated investment securities |
- | - | - | - | ||||||||||||||||||||||||||||||||
Unaffiliated in-kind redemptions |
50,770,194 | 259,392,997 | 16,320,721 | 6,900,504 | ||||||||||||||||||||||||||||||||
Affiliated in-kind redemptions |
- | - | - | - | ||||||||||||||||||||||||||||||||
Short Sales |
- | - | - | - | ||||||||||||||||||||||||||||||||
Foreign currencies |
- | - | 1,642 | - | ||||||||||||||||||||||||||||||||
Swap agreements |
- | - | 4,347,444 | - | ||||||||||||||||||||||||||||||||
Written options |
- | - | - | - | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net realized gain (loss) |
47,520,632 | 176,316,914 | 23,389,110 | (2,864,255 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) of: |
||||||||||||||||||||||||||||||||||||
Unaffiliated investment securities |
(66,076,245 | ) | 11,013,964 | (2,272,488 | ) | (80,179,174 | ) | |||||||||||||||||||||||||||||
Affiliated investment securities |
- | - | 1 | (1 | ) | |||||||||||||||||||||||||||||||
Foreign currencies |
- | - | (9,700 | ) | - | |||||||||||||||||||||||||||||||
Swap agreements |
- | - | 152,415 | - | ||||||||||||||||||||||||||||||||
Written options |
- | - | - | - | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) |
(66,076,245 | ) | 11,013,964 | (2,129,772 | ) | (80,179,175 | ) | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) |
(18,555,613 | ) | 187,330,878 | 21,259,338 | (83,043,430 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
$ | (16,742,687 | ) | $ | 186,038,464 | $ | 27,447,391 | $ | (83,233,490 | ) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
40 |
||||
Invesco MSCI Sustainable Future ETF (ERTH) |
Invesco Raymond James SB-1 Equity ETF (RYJ) |
Invesco S&P 500 BuyWrite ETF (PBP) |
Invesco S&P 500® Quality ETF (SPHQ) |
Invesco S&P Spin-Off ETF (CSD) |
Invesco Water Resources ETF (PHO) |
Invesco WilderHill Clean Energy ETF (PBW) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 3,189,515 | $ | 1,041,405 | $ | 1,267,883 | $ | 23,844,408 | $ | 530,383 | $ | 7,401,657 | $ | 972,616 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
364 | 1 | 10 | 265 | 27 | 241 | 271 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
116,378 | 23,522 | - | 12,715 | 3,011 | 20,161 | 15,478,372 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(117,939 | ) | (2,045 | ) | (221 | ) | - | - | (4,036 | ) | (135,592 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3,188,318 | 1,062,883 | 1,267,672 | 23,857,388 | 533,421 | 7,418,023 | 16,315,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | 523,957 | 425,432 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,077,097 | - | - | 2,290,838 | 192,024 | 4,598,008 | 4,833,076 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
13,464 | - | - | 365,511 | 19,203 | 689,705 | 966,608 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
16,104 | - | - | 78,428 | 8,306 | 43,791 | 30,534 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7,424 | - | - | 7,532 | 1,507 | 3,701 | 8,147 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8,310 | - | - | 20,291 | (603 | ) | 20,087 | 19,464 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | 2,563 | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12,847 | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
38,529 | - | - | 70,247 | 26,725 | 72,214 | 67,377 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,173,775 | 523,957 | 425,432 | 2,832,847 | 249,725 | 5,427,506 | 5,925,206 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | (537,875 | ) | (2 | ) | (8 | ) | (8,687 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,173,775 | 523,957 | 425,432 | 2,294,972 | 249,723 | 5,427,498 | 5,916,519 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2,014,543 | 538,926 | 842,240 | 21,562,416 | 283,698 | 1,990,525 | 10,399,148 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
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|
|
|
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|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(4,345,936 | ) | 1,064,365 | 377,017 | 52,727,039 | (1,324,406 | ) | 18,526,465 | (58,922,215 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | (2,509 | ) | - | - | - | (83,741,671 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10,332,507 | 13,592,166 | 6,126,239 | 263,990,910 | 209,966 | 129,908,810 | 84,753,991 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | 1,207 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | (4,601 | ) | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(7,260 | ) | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | 2,783,292 | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
|
|
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|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
5,979,311 | 14,656,531 | 9,280,645 | 316,717,949 | (1,114,440 | ) | 148,435,275 | (57,909,895 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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|
|
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|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
34,746,940 | (9,661,684 | ) | 10,825,368 | 24,964,126 | 1,341,429 | 30,809,256 | 56,226,483 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1 | - | (1,499 | ) | 1 | - | - | (4,908,116 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(12,061 | ) | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | - | - | - | - | - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | - | (3,935,115 | ) | - | - | - | - | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
|
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|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
34,734,880 | (9,661,684 | ) | 6,888,754 | 24,964,127 | 1,341,429 | 30,809,256 | 51,318,367 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
40,714,191 | 4,994,847 | 16,169,399 | 341,682,076 | 226,989 | 179,244,531 | (6,591,528 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 42,728,734 | $ | 5,533,773 | $ | 17,011,639 | $ | 363,244,492 | $ | 510,687 | $ | 181,235,056 | $ | 3,807,620 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
|
|
|
|
|
41 |
||||
Statements of Changes in Net Assets
For the six months ended October 31, 2021 and the year ended April 30, 2021
(Unaudited)
Invesco Aerospace & Defense ETF (PPA) |
Invesco DWA Momentum ETF (PDP) |
|||||||||||||||||||||||||||||
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
|||||||||||||||||||||||||||
Operations: |
|
|||||||||||||||||||||||||||||
Net investment income (loss) |
$ | 1,812,926 | $ | 4,901,284 | $ | (1,292,414 | ) | $ | (3,200,469 | ) | ||||||||||||||||||||
Net realized gain (loss) |
47,520,632 | 46,232,750 | 176,316,914 | 600,380,405 | ||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) |
(66,076,245 | ) | 179,147,318 | 11,013,964 | 11,364,728 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(16,742,687 | ) | 230,281,352 | 186,038,464 | 608,544,664 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Distributions to Shareholders from: |
||||||||||||||||||||||||||||||
Distributable earnings |
(1,917,937 | ) | (4,974,374 | ) | - | (513,422 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Shareholder Transactions: |
||||||||||||||||||||||||||||||
Proceeds from shares sold |
115,908,961 | 96,845,229 | 1,105,143,696 | 1,889,632,495 | ||||||||||||||||||||||||||
Value of shares repurchased |
(158,600,530 | ) | (287,278,268 | ) | (1,199,026,488 | ) | (1,999,394,937 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase (decrease) in net assets resulting from share transactions |
(42,691,569 | ) | (190,433,039 | ) | (93,882,792 | ) | (109,762,442 | ) | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net increase (decrease) in net assets |
(61,352,193 | ) | 34,873,939 | 92,155,672 | 498,268,800 | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Net assets: |
||||||||||||||||||||||||||||||
Beginning of period |
743,395,030 | 708,521,091 | 1,789,036,972 | 1,290,768,172 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
End of period |
$ | 682,042,837 | $ | 743,395,030 | $ | 1,881,192,644 | $ | 1,789,036,972 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Changes in Shares Outstanding: |
||||||||||||||||||||||||||||||
Shares sold |
1,520,000 | 1,410,000 | 12,220,000 | 24,410,000 | ||||||||||||||||||||||||||
Shares repurchased |
(2,130,000 | ) | (4,650,000 | ) | (13,400,000 | ) | (25,260,000 | ) | ||||||||||||||||||||||
Shares outstanding, beginning of period |
9,910,000 | 13,150,000 | 20,450,000 | 21,300,000 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
Shares outstanding, end of period |
9,300,000 | 9,910,000 | 19,270,000 | 20,450,000 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
42 |
||||
Invesco Global Listed Private Equity ETF (PSP) |
Invesco Golden Dragon China ETF (PGJ) |
Invesco MSCI Sustainable Future ETF (ERTH) |
Invesco Raymond James SB-1 Equity ETF (RYJ) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 6,188,053 | $ | 4,229,129 | $ | (190,060 | ) | $ | (461,867 | ) | $ | 2,014,543 | $ | 565,792 | $ | 538,926 | $ | 581,231 | |||||||||||||||||||||||||||||||||||||||||||||||||
23,389,110 | 17,098,597 | (2,864,255 | ) | 35,506,391 | 5,979,311 | 143,803,097 | 14,656,531 | 28,594,856 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(2,129,772 | ) | 76,392,248 | (80,179,175 | ) | 38,219,950 | 34,734,880 | 21,171,270 | (9,661,684 | ) | 38,569,122 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
27,447,391 | 97,719,974 | (83,233,490 | ) | 73,264,474 | 42,728,734 | 165,540,159 | 5,533,773 | 67,745,209 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
(15,843,015 | ) | (7,353,679 | ) | - | (416,183 | ) | (62,073,656 | ) | (1,027,732 | ) | - | (349,993 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
62,348,651 | 55,921,055 | 70,057,547 | 149,050,053 | 45,597,512 | 206,512,897 | 34,861,932 | 48,213,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(30,593,718 | ) | (53,468,279 | ) | (21,941,591 | ) | (109,053,471 | ) | (66,842,188 | ) | (108,276,729 | ) | (40,988,293 | ) | (75,982,774 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
31,754,933 | 2,452,776 | 48,115,956 | 39,996,582 | (21,244,676 | ) | 98,236,168 | (6,126,361 | ) | (27,769,174 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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|
|
|
|
|
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|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
43,359,309 | 92,819,071 | (35,117,534 | ) | 112,844,873 | (40,589,598 | ) | 262,748,595 | (592,588 | ) | 39,626,042 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
234,352,582 | 141,533,511 | 274,294,658 | 161,449,785 | 486,807,140 | 224,058,545 | 141,229,726 | 101,603,684 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 277,711,891 | $ | 234,352,582 | $ | 239,177,124 | $ | 274,294,658 | $ | 446,217,542 | $ | 486,807,140 | $ | 140,637,138 | $ | 141,229,726 | |||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
3,900,000 | 4,400,000 | 1,510,000 | 2,220,000 | 650,000 | 3,100,000 | 570,000 | 970,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1,900,000 | ) | (4,600,000 | ) | (430,000 | ) | (1,900,000 | ) | (950,000 | ) | (1,850,000 | ) | (670,000 | ) | (1,620,000 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
15,000,000 | 15,200,000 | 4,320,000 | 4,000,000 | 6,500,000 | 5,250,000 | 2,322,822 | 2,972,822 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
17,000,000 | 15,000,000 | 5,400,000 | 4,320,000 | 6,200,000 | 6,500,000 | 2,222,822 | 2,322,822 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
43 |
||||
Statements of Changes in Net Assets—(continued)
For the six months ended October 31, 2021 and the year ended April 30, 2021
(Unaudited)
Invesco S&P 500 BuyWrite ETF (PBP) |
Invesco S&P 500® Quality ETF (SPHQ) |
|||||||||||||||||||||||||||||||
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
|||||||||||||||||||||||||||||
Operations: |
||||||||||||||||||||||||||||||||
Net investment income |
$ | 842,240 | $ | 2,060,239 | $ | 21,562,416 | $ | 35,964,127 | ||||||||||||||||||||||||
Net realized gain (loss) |
9,280,645 | 4,276,581 | 316,717,949 | 239,214,898 | ||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) |
6,888,754 | 34,491,286 | 24,964,127 | 442,404,302 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net increase in net assets resulting from operations |
17,011,639 | 40,828,106 | 363,244,492 | 717,583,327 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Distributions to Shareholders from: |
||||||||||||||||||||||||||||||||
Distributable earnings |
(960,802 | ) | (2,096,531 | ) | (19,521,456 | ) | (35,227,013 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Shareholder Transactions: |
||||||||||||||||||||||||||||||||
Proceeds from shares sold |
4,580,303 | 5,023,505 | 1,300,157,781 | 1,566,882,564 | ||||||||||||||||||||||||||||
Value of shares repurchased |
(11,510,580 | ) | (68,749,755 | ) | (1,053,425,353 | ) | (1,335,231,097 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from share transactions |
(6,930,277 | ) | (63,726,250 | ) | 246,732,428 | 231,651,467 | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net increase (decrease) in net assets |
9,120,560 | (24,994,675 | ) | 590,455,464 | 914,007,781 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net assets: |
||||||||||||||||||||||||||||||||
Beginning of period |
167,818,220 | 192,812,895 | 2,670,217,957 | 1,756,210,176 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
End of period |
$ | 176,938,780 | $ | 167,818,220 | $ | 3,260,673,421 | $ | 2,670,217,957 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Changes in Shares Outstanding: |
||||||||||||||||||||||||||||||||
Shares sold |
200,000 | 250,000 | 27,250,000 | 40,490,000 | ||||||||||||||||||||||||||||
Shares repurchased |
(500,000 | ) | (3,600,000 | ) | (22,310,000 | ) | (34,350,000 | ) | ||||||||||||||||||||||||
Shares outstanding, beginning of period |
7,700,000 | 11,050,000 | 58,390,000 | 52,250,000 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Shares outstanding, end of period |
7,400,000 | 7,700,000 | 63,330,000 | 58,390,000 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
44 |
||||
Invesco S&P Spin-Off ETF (CSD) |
Invesco Water Resources ETF (PHO) |
Invesco WilderHill Clean Energy ETF (PBW) |
||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
Six Months Ended October 31, 2021 |
Year Ended April 30, 2021 |
|||||||||||||||||||||||||||||||||||||||||
$ | 283,698 | $ | 443,581 | $ | 1,990,525 | $ | 4,714,395 | $ | 10,399,148 | $ | 10,162,137 | |||||||||||||||||||||||||||||||||||
(1,114,440 | ) | (4,609,226 | ) | 148,435,275 | 139,703,627 | (57,909,895 | ) | 702,026,622 | ||||||||||||||||||||||||||||||||||||||
1,341,429 | 45,720,361 | 30,809,256 | 363,934,247 | 51,318,367 | (283,880,388 | ) | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
510,687 | 41,554,716 | 181,235,056 | 508,352,269 | 3,807,620 | 428,308,371 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
- | (669,670 | ) | (1,993,390 | ) | (4,879,305 | ) | (12,811,783 | ) | (9,830,994 | ) | ||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
644,755 | 12,625,886 | 472,300,190 | 393,235,944 | 797,332,672 | 3,043,741,601 | |||||||||||||||||||||||||||||||||||||||||
(654,610 | ) | (36,410,061 | ) | (230,615,623 | ) | (284,142,432 | ) | (981,403,873 | ) | (1,513,699,302 | ) | |||||||||||||||||||||||||||||||||||
|
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|
|
|||||||||||||||||||||||||||||||||||
(9,855 | ) | (23,784,175 | ) | 241,684,567 | 109,093,512 | (184,071,201 | ) | 1,530,042,299 | ||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
500,832 | 17,100,871 | 420,926,233 | 612,566,476 | (193,075,364 | ) | 1,948,519,676 | ||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
75,547,951 | 58,447,080 | 1,604,412,087 | 991,845,611 | 2,196,395,872 | 247,876,196 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
$ | 76,048,783 | $ | 75,547,951 | $ | 2,025,338,320 | $ | 1,604,412,087 | $ | 2,003,320,508 | $ | 2,196,395,872 | |||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
10,000 | 280,000 | 8,440,000 | 8,560,000 | 9,430,000 | 33,950,000 | |||||||||||||||||||||||||||||||||||||||||
(10,000 | ) | (810,000 | ) | (4,230,000 | ) | (6,610,000 | ) | (11,900,000 | ) | (16,720,000 | ) | |||||||||||||||||||||||||||||||||||
1,170,000 | 1,700,000 | 30,750,000 | 28,800,000 | 24,998,273 | 7,768,273 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||
1,170,000 | 1,170,000 | 34,960,000 | 30,750,000 | 22,528,273 | 24,998,273 | |||||||||||||||||||||||||||||||||||||||||
|
|
|
|
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|
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|
|
|
|
|
45 |
||||
Invesco Aerospace & Defense ETF (PPA)
Six Months Ended | ||||||||||||||||||||||||||||
October 31, | ||||||||||||||||||||||||||||
2021 | Years Ended April 30, | |||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||
Per Share Operating Performance: |
|
|||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 75.01 | $ | 53.88 | $ | 61.93 | $ | 55.62 | $ | 44.81 | $ | 36.43 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net investment income(a) |
0.19 | 0.44 | 0.80 | 0.49 | 0.42 | 0.60 | ||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(1.66 | ) | 21.13 | (7.98 | ) | 6.30 | 10.79 | 8.43 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Total from investment operations |
(1.47 | ) | 21.57 | (7.18 | ) | 6.79 | 11.21 | 9.03 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||
Net investment income |
(0.20 | ) | (0.44 | ) | (0.87 | ) | (0.48 | ) | (0.40 | ) | (0.65 | ) | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net asset value at end of period |
$ | 73.34 | $ | 75.01 | $ | 53.88 | $ | 61.93 | $ | 55.62 | $ | 44.81 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Market price at end of period(b) |
$ | 73.23 | $ | 74.97 | $ | 53.98 | $ | 61.94 | $ | 55.66 | $ | 44.84 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Net Asset Value Total Return(c) |
(1.96 | )% | 40.21 | % | (11.64 | )% | 12.33 | % | 25.13 | % | 25.06 | % | ||||||||||||||||
Market Price Total Return(c) |
(2.05 | )% | 39.87 | % | (11.48 | )% | 12.27 | % | 25.14 | % | 25.18 | % | ||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 682,043 | $ | 743,395 | $ | 708,521 | $ | 938,246 | $ | 1,006,709 | $ | 569,149 | ||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||
Expenses, after Waivers |
0.59 | %(d) | 0.61 | % | 0.59 | % | 0.59 | % | 0.60 | % | 0.61 | % | ||||||||||||||||
Expenses, prior to Waivers |
0.59 | %(d) | 0.61 | % | 0.59 | % | 0.59 | % | 0.60 | % | 0.61 | % | ||||||||||||||||
Net investment income |
0.50 | %(d) | 0.71 | % | 1.22 | % | 0.86 | % | 0.80 | % | 1.47 | % | ||||||||||||||||
Portfolio turnover rate(e) |
15 | % | 22 | % | 18 | % | 15 | % | 7 | % | 10 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
46 |
||||
Financial Highlights—(continued)
Invesco DWA Momentum ETF (PDP)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 87.48 | $ | 60.60 | $ | 58.78 | $ | 52.66 | $ | 45.86 | $ | 40.51 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income (loss)(a) |
(0.06 | ) | (0.15 | ) | 0.19 | 0.11 | 0.13 | 0.28 | ||||||||||||||||||||||
Net realized and unrealized gain on investments |
|
10.20 | 27.05 | 1.86 | 6.10 | 6.81 | 5.41 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
10.14 | 26.90 | 2.05 | 6.21 | 6.94 | 5.69 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
- | (0.02 | ) | (0.23 | ) | (0.09 | ) | (0.13 | ) | (0.34 | ) | |||||||||||||||||||
Return of capital |
- | - | - | - | (0.01 | ) | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total distributions |
- | (0.02 | ) | (0.23 | ) | (0.09 | ) | (0.14 | ) | (0.34 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 97.62 | $ | 87.48 | $ | 60.60 | $ | 58.78 | $ | 52.66 | $ | 45.86 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(b) |
$ | 97.54 | $ | 87.44 | $ | 60.68 | $ | 58.79 | $ | 52.72 | $ | 45.87 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(c) |
11.59 | % | 44.41 | % | 3.53 | % | 11.81 | % | 15.17 | % | 14.12 | % | ||||||||||||||||||
Market Price Total Return(c) |
11.55 | % | 44.15 | % | 3.65 | % | 11.70 | % | 15.28 | % | 14.17 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 1,881,193 | $ | 1,789,037 | $ | 1,290,768 | $ | 1,545,947 | $ | 1,521,909 | $ | 1,417,070 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.62 | %(d) | 0.62 | % | 0.62 | % | 0.62 | % | 0.63 | % | 0.63 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.62 | %(d) | 0.62 | % | 0.62 | % | 0.62 | % | 0.63 | % | 0.63 | % | ||||||||||||||||||
Net investment income (loss) |
(0.14 | )%(d) | (0.18 | )% | 0.32 | % | 0.20 | % | 0.26 | % | 0.65 | % | ||||||||||||||||||
Portfolio turnover rate(e) |
90 | % | 124 | % | 82 | % | 82 | % | 68 | % | 68 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
47 |
||||
Financial Highlights—(continued)
Invesco Global Listed Private Equity ETF (PSP)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 15.62 | $ | 9.31 | $ | 12.10 | $ | 12.19 | $ | 12.25 | $ | 10.45 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(a) |
0.38 | (b) | 0.30 | 0.52 | (c) | 0.32 | 0.40 | (d) | 0.41 | |||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
1.32 | 6.53 | (2.36 | ) | (0.03 | ) | 0.99 | 1.85 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
1.70 | 6.83 | (1.84 | ) | 0.29 | 1.39 | 2.26 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.98 | ) | (0.52 | ) | (0.95 | ) | (0.38 | ) | (1.40 | ) | (0.46 | ) | ||||||||||||||||||
Return of capital |
- | - | - | - | (0.05 | ) | - | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total distributions |
(0.98 | ) | (0.52 | ) | (0.95 | ) | (0.38 | ) | (1.45 | ) | (0.46 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 16.34 | $ | 15.62 | $ | 9.31 | $ | 12.10 | $ | 12.19 | $ | 12.25 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(e) |
$ | 16.40 | $ | 15.60 | $ | 9.32 | $ | 12.13 | $ | 12.21 | $ | 12.29 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(f) |
11.45 | % | 75.17 | % | (15.82 | )% | 2.28 | % | 11.76 | % | 22.21 | % | ||||||||||||||||||
Market Price Total Return(f) |
12.01 | % | 74.76 | % | (15.92 | )% | 2.36 | % | 11.57 | % | 23.32 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 277,712 | $ | 234,353 | $ | 141,534 | $ | 244,443 | $ | 245,052 | $ | 286,143 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers(g) |
0.65 | %(h) | 0.68 | % | 0.63 | % | 0.64 | % | 0.64 | % | 0.66 | % | ||||||||||||||||||
Expenses, prior to Waivers(g) |
0.65 | %(h) | 0.69 | % | 0.65 | % | 0.66 | % | 0.65 | % | 0.67 | % | ||||||||||||||||||
Net investment income |
4.81 | %(b)(h) | 2.42 | % | 4.47 | %(c) | 2.79 | % | 3.16 | %(d) | 3.77 | % | ||||||||||||||||||
Portfolio turnover rate(i) |
34 | % | 47 | % | 50 | % | 64 | % | 44 | % | 39 | % |
(a) |
Based on average shares outstanding. |
(b) |
Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.22 and 2.75%, respectively. |
(c) |
Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.33 and 2.82%, respectively. |
(d) |
Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.30 and 2.37%, respectively. |
(e) |
The mean between the last bid and ask prices. |
(f) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(g) |
In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of the investment companies in which the Fund invests. Estimated investment companies’ expenses are not expenses that are incurred directly by the Fund. They are expenses that are incurred directly by the investment companies and are deducted from the value of the investment companies the Fund invests in. The effect of the estimated investment companies’ expenses that the Fund bears indirectly is included in the Fund’s total return. |
(h) |
Annualized. |
(i) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
48 |
||||
Financial Highlights—(continued)
Invesco Golden Dragon China ETF (PGJ)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
|
|||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 63.49 | $ | 40.36 | $ | 42.08 | $ | 45.58 | $ | 35.69 | $ | 30.51 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income (loss)(a) |
(0.04 | ) | (0.12 | ) | 0.16 | 0.11 | 0.31 | 0.19 | ||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(19.16 | ) | 23.36 | (1.72 | ) | (3.51 | ) | 10.50 | 5.54 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
(19.20 | ) | 23.24 | (1.56 | ) | (3.40 | ) | 10.81 | 5.73 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
- | (0.11 | ) | (0.16 | ) | (0.10 | ) | (0.92 | ) | (0.55 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 44.29 | $ | 63.49 | $ | 40.36 | $ | 42.08 | $ | 45.58 | $ | 35.69 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(b) |
$ | 44.26 | $ | 63.52 | $ | 40.32 | $ | 42.11 | $ | 45.58 | $ | 35.69 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(c) |
(30.24 | )% | 57.61 | % | (3.67 | )% | (7.46 | )% | 30.46 | % | 19.23 | % | ||||||||||||||||||
Market Price Total Return(c) |
(30.32 | )% | 57.84 | % | (3.83 | )% | (7.39 | )% | 30.46 | % | 19.31 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 239,177 | $ | 274,295 | $ | 161,450 | $ | 216,730 | $ | 271,208 | $ | 153,460 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.68 | %(d) | 0.69 | % | 0.70 | %(e) | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.68 | %(d) | 0.69 | % | 0.71 | %(e) | 0.70 | % | 0.70 | % | 0.73 | % | ||||||||||||||||||
Net investment income (loss) |
(0.16 | )%(d) | (0.20 | )% | 0.40 | %(e) | 0.27 | % | 0.70 | % | 0.61 | % | ||||||||||||||||||
Portfolio turnover rate(f) |
25 | % | 40 | % | 30 | % | 36 | % | 25 | % | 30 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Ratios include non-recurring costs associated with a proxy statement of less than 0.005%. |
(f) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
49 |
||||
Financial Highlights—(continued)
Invesco MSCI Sustainable Future ETF (ERTH)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 74.89 | $ | 42.68 | $ | 45.03 | $ | 42.12 | $ | 37.06 | $ | 30.41 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(a) |
0.32 | 0.10 | 0.23 | 0.19 | 0.25 | 0.59 | (b) | |||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(2.80 | )(c) | 32.29 | (2.25 | ) | 2.95 | 5.18 | 6.41 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
(2.48 | ) | 32.39 | (2.02 | ) | 3.14 | 5.43 | 7.00 | ||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.44 | ) | (0.18 | ) | (0.33 | ) | (0.23 | ) | (0.37 | ) | (0.35 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 71.97 | $ | 74.89 | $ | 42.68 | $ | 45.03 | $ | 42.12 | $ | 37.06 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(d) |
$ | 72.01 | $ | 74.75 | $ | 42.74 | $ | 45.21 | $ | 42.26 | $ | 37.19 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(e) |
|
10.86 | % | 75.99 | % | (4.49 | )% | 7.48 | % | 14.74 | % | 23.21 | % | |||||||||||||||||
Market Price Total Return(e) |
11.06 | % | 75.42 | % | (4.73 | )% | 7.55 | % | 14.72 | % | 24.13 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 446,218 | $ | 486,807 | $ | 224,059 | $ | 180,121 | $ | 160,057 | $ | 92,639 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.54 | %(f) | 0.61 | % | 0.65 | % | 0.68 | % | 0.67 | % | 0.68 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.54 | %(f) | 0.61 | % | 0.65 | % | 0.68 | % | 0.68 | % | 0.73 | % | ||||||||||||||||||
Net investment income |
0.94 | %(f) | 0.16 | % | 0.51 | % | 0.47 | % | 0.61 | % | 1.81 | %(b) | ||||||||||||||||||
Portfolio turnover rate(g) |
18 | % | 140 | % | 75 | % | 21 | % | 17 | % | 24 | % |
(a) |
Based on average shares outstanding. |
(b) |
Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.39 and 1.20%, respectively. |
(c) |
Net realized and unrealized gain (loss) on investments per share may not correlate with the Fund’s net realized and unrealized gain (loss) due to timing of shareholder transactions in relation to the fluctuating market values of the Fund’s investments. |
(d) |
The mean between the last bid and ask prices. |
(e) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(f) |
Annualized. |
(g) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
50 |
||||
Financial Highlights—(continued)
Invesco Raymond James SB-1 Equity ETF (RYJ)
Six Months Ended October 31, 2021 |
Years Ended April 30, |
Eight Months Ended April 30, |
Years Ended August 31, | |||||||||||||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 60.80 | $ | 34.18 | $ | 45.30 | $ | 49.24 | $ | 39.34 | $ | 35.99 | $ | 34.24 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net investment income(a) |
0.24 | 0.23 | 0.33 | 0.13 | 0.27 | 0.12 | 0.29 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
2.23 | 26.53 | (11.35 | ) | (3.55 | ) | 9.63 | 3.82 | 1.76 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total from investment operations |
2.47 | 26.76 | (11.02 | ) | (3.42 | ) | 9.90 | 3.94 | 2.05 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||||||||||||||
Net investment income |
- | (0.14 | ) | (0.10 | ) | (0.52 | ) | - | (0.52 | ) | (0.30 | ) | ||||||||||||||||||||||||||||||
Return of capital |
- | - | - | - | - | (0.07 | ) | - | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total distributions |
- | (0.14 | ) | (0.10 | ) | (0.52 | ) | - | (0.59 | ) | (0.30 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net asset value at end of period |
$ | 63.27 | $ | 60.80 | $ | 34.18 | $ | 45.30 | $ | 49.24 | $ | 39.34 | $ | 35.99 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Market price at end of period |
$ | 63.21 | (b) | $ | 60.81 | (b) | $ | 34.22 | (b) | $ | 45.30 | (b) | $ | 49.19 | (b) | $ | 39.32 | $ | 36.01 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net Asset Value Total Return(c) |
4.06 | % | 78.39 | % | (24.40 | )% | (6.60 | )% | 25.16 | % | 11.00 | % | 6.08 | % | ||||||||||||||||||||||||||||
Market Price Total Return(c) |
3.95 | % | 78.21 | % | (24.31 | )% | (6.51 | )% | 25.10 | % | ||||||||||||||||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 140,637 | $ | 141,230 | $ | 101,604 | $ | 173,156 | $ | 200,560 | $ | 185,801 | $ | 180,784 | ||||||||||||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.75 | %(d) | 0.75 | %(e) | 0.75 | % | 0.75 | %(d)(e) | 0.71 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||||||||||||
Expenses, prior to Waivers |
0.75 | %(d) | 0.75 | %(e) | 0.75 | % | 0.75 | %(d)(e) | 0.71 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||||||||||||
Net investment income |
0.77 | %(d) | 0.49 | % | 0.78 | % | 0.44 | %(d) | 0.60 | % | 0.30 | % | 0.87 | % | ||||||||||||||||||||||||||||
Portfolio turnover rate(f) |
44 | % | 110 | % | 114 | % | 65 | % | 82 | % | 90 | % | 118 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of the investment companies in which the Fund invests. Estimated investment companies’ expenses are not expenses that are incurred directly by the Fund. They are expenses that are incurred directly by the investment companies and are deducted from the value of the investment companies the Fund invests in. The effect of the estimated investment companies’ expenses that the Fund bears indirectly is included in the Fund’s total return. |
(f) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
51 |
||||
Financial Highlights—(continued)
Invesco S&P 500 BuyWrite ETF (PBP)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 21.79 | $ | 17.45 | $ | 21.39 | $ | 21.29 | $ | 22.21 | $ | 20.33 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(a) |
0.11 | 0.23 | 0.33 | 0.32 | 0.28 | 0.29 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
2.14 | 4.35 | (3.05 | ) | 0.32 | 1.16 | 2.10 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
2.25 | 4.58 | (2.72 | ) | 0.64 | 1.44 | 2.39 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.13 | ) | (0.24 | ) | (0.36 | ) | (0.31 | ) | (1.09 | ) | (0.33 | ) | ||||||||||||||||||
Net realized gains |
- | - | (0.86 | ) | (0.23 | ) | (1.27 | ) | (0.18 | ) | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total distributions |
(0.13 | ) | (0.24 | ) | (1.22 | ) | (0.54 | ) | (2.36 | ) | (0.51 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 23.91 | $ | 21.79 | $ | 17.45 | $ | 21.39 | $ | 21.29 | $ | 22.21 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(b) |
$ | 23.88 | $ | 21.76 | $ | 17.40 | $ | 21.39 | $ | 21.33 | $ | 22.23 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(c) |
10.35 | % | 26.40 | % | (13.62 | )% | 3.16 | % | 6.59 | % | 11.86 | % | ||||||||||||||||||
Market Price Total Return(c) |
10.36 | % | 26.59 | % | (13.85 | )% | 2.97 | % | 6.68 | % | 12.18 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 176,939 | $ | 167,818 | $ | 192,813 | $ | 320,778 | $ | 302,296 | $ | 327,596 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses |
0.49 | %(d) | 0.49 | % | 0.49 | % | 0.53 | % | 0.75 | % | 0.75 | % | ||||||||||||||||||
Net investment income |
0.97 | %(d) | 1.19 | % | 1.56 | % | 1.47 | % | 1.25 | % | 1.37 | % | ||||||||||||||||||
Portfolio turnover rate(e) |
14 | % | 19 | % | 19 | % | 15 | % | 16 | % | 24 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
52 |
||||
Financial Highlights—(continued)
Invesco S&P 500® Quality ETF (SPHQ)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 45.73 | $ | 33.61 | $ | 33.29 | $ | 29.53 | $ | 27.62 | $ | 24.70 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(a) |
0.35 | 0.63 | 0.61 | 0.51 | 0.57 | 0.54 | ||||||||||||||||||||||||
Net realized and unrealized gain on investments |
5.73 | 12.11 | 0.35 | 3.75 | 1.89 | 2.84 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
6.08 | 12.74 | 0.96 | 4.26 | 2.46 | 3.38 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.32 | ) | (0.62 | ) | (0.64 | ) | (0.50 | ) | (0.55 | ) | (0.46 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 51.49 | $ | 45.73 | $ | 33.61 | $ | 33.29 | $ | 29.53 | $ | 27.62 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(b) |
$ | 51.47 | $ | 45.75 | $ | 33.62 | $ | 33.30 | $ | 29.55 | $ | 27.63 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(c) |
13.33 | % | 38.23 | % | 3.03 | % | 14.63 | % | 8.94 | % | 13.84 | % | ||||||||||||||||||
Market Price Total Return(c) |
13.24 | % | 38.26 | % | 3.03 | % | 14.59 | % | 8.98 | % | 13.88 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 3,260,673 | $ | 2,670,218 | $ | 1,756,210 | $ | 1,469,785 | $ | 1,327,157 | $ | 1,222,223 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.15 | %(d) | 0.15 | % | 0.15 | % | 0.19 | % | 0.29 | % | 0.29 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.19 | %(d) | 0.19 | % | 0.21 | % | 0.26 | % | 0.37 | % | 0.38 | % | ||||||||||||||||||
Net investment income |
1.41 | %(d) | 1.59 | % | 1.79 | % | 1.67 | % | 1.95 | % | 2.10 | % | ||||||||||||||||||
Portfolio turnover rate(e) |
39 | % | 57 | % | 56 | % | 73 | % | 60 | % | 49 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
53 |
||||
Financial Highlights—(continued)
Invesco S&P Spin-Off ETF (CSD)
Six Months Ended October 31, 2021 |
Years Ended April 30, | Eight Months Ended April 30, |
Years Ended August 31, |
|||||||||||||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 64.57 | $ | 34.38 | $ | 52.43 | $ | 52.61 | $ | 49.42 | $ | 42.42 | $ | 40.90 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net investment income(a) |
0.24 | 0.33 | 0.58 | 0.43 | 0.04 | 0.39 | 0.61 | |||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
0.19 | 30.41 | (18.08 | ) | (0.19 | ) | 3.46 | 7.31 | 1.91 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total from investment operations |
0.43 | 30.74 | (17.50 | ) | 0.24 | 3.50 | 7.70 | 2.52 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||||||||||||||
Net investment income |
- | (0.55 | ) | (0.55 | ) | (0.42 | ) | (0.20 | ) | (0.70 | ) | (1.00 | ) | |||||||||||||||||||||||||||||
Return of capital |
- | - | - | - | (0.11 | ) | - | - | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Total distributions |
- | (0.55 | ) | (0.55 | ) | (0.42 | ) | (0.31 | ) | (0.70 | ) | (1.00 | ) | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net asset value at end of period |
$ | 65.00 | $ | 64.57 | $ | 34.38 | $ | 52.43 | $ | 52.61 | $ | 49.42 | $ | 42.42 | ||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Market price at end of period |
$ | 64.98 | (b) | $ | 64.57 | (b) | $ | 34.41 | (b) | $ | 52.41 | (b) | $ | 52.55 | (b) | $ | 49.34 | $ | 42.42 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
Net Asset Value Total Return(c) |
0.67 | % | 89.69 | % | (33.72 | )% | 0.71 | % | 7.10 | % | 18.39 | % | 6.42 | % | ||||||||||||||||||||||||||||
Market Price Total Return(c) |
0.63 | % | 89.53 | % | (33.64 | )% | 0.78 | % | 7.15 | % | ||||||||||||||||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 76,049 | $ | 75,548 | $ | 58,447 | $ | 146,814 | $ | 202,534 | $ | 195,208 | $ | 216,319 | ||||||||||||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.65 | %(d) | 0.65 | % | 0.62 | % | 0.62 | % | 0.64 | %(d) | 0.64 | % | 0.65 | % | ||||||||||||||||||||||||||||
Expenses, prior to Waivers |
0.65 | %(d) | 0.68 | % | 0.62 | % | 0.62 | % | 0.65 | %(d) | 0.64 | % | 0.71 | % | ||||||||||||||||||||||||||||
Net investment income |
0.74 | %(d) | 0.68 | % | 1.27 | % | 0.84 | % | 0.12 | %(d) | 0.86 | % | 1.54 | % | ||||||||||||||||||||||||||||
Portfolio turnover rate(e) |
39 | % | 57 | % | 55 | % | 49 | % | 24 | % | 44 | % | 116 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
54 |
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Financial Highlights—(continued)
Invesco Water Resources ETF (PHO)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017 | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
|
$ | 52.18 | $ | 34.44 | $ | 34.67 | $ | 30.09 | $ | 26.71 | $ | 22.99 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(a) |
0.06 | 0.17 | 0.15 | 0.16 | 0.09 | 0.16 | ||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
5.75 | 17.74 | (0.18 | ) | 4.55 | 3.39 | 3.68 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
5.81 | 17.91 | (0.03 | ) | 4.71 | 3.48 | 3.84 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.06 | ) | (0.17 | ) | (0.20 | ) | (0.13 | ) | (0.10 | ) | (0.12 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 57.93 | $ | 52.18 | $ | 34.44 | $ | 34.67 | $ | 30.09 | $ | 26.71 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(b) |
$ | 57.88 | $ | 52.17 | $ | 34.49 | $ | 34.70 | $ | 30.09 | $ | 26.70 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(c) |
11.14 | % | 52.15 | % | (0.07 | )% | 15.74 | % | 13.07 | % | 16.73 | % | ||||||||||||||||||
Market Price Total Return(c) |
11.07 | % | 51.90 | % | (0.01 | )% | 15.84 | % | 13.11 | % | 16.74 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 2,025,338 | $ | 1,604,412 | $ | 991,846 | $ | 941,269 | $ | 821,548 | $ | 797,147 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.59 | %(d) | 0.60 | % | 0.60 | % | 0.60 | % | 0.62 | % | 0.62 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.59 | %(d) | 0.60 | % | 0.60 | % | 0.60 | % | 0.62 | % | 0.62 | % | ||||||||||||||||||
Net investment income |
0.22 | %(d) | 0.39 | % | 0.42 | % | 0.51 | % | 0.31 | % | 0.64 | % | ||||||||||||||||||
Portfolio turnover rate(e) |
15 | % | 22 | % | 26 | % | 31 | % | 23 | % | 44 | % |
(a) |
Based on average shares outstanding. |
(b) |
The mean between the last bid and ask prices. |
(c) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(d) |
Annualized. |
(e) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
55 |
||||
Financial Highlights—(continued)
Invesco WilderHill Clean Energy ETF (PBW)
Six Months Ended October 31, 2021 |
Years Ended April 30, | |||||||||||||||||||||||||||||
(Unaudited) |
2021 | 2020 | 2019 | 2018 | 2017(a) | |||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 87.86 | $ | 31.91 | $ | 28.30 | $ | 24.64 | $ | 20.85 | $ | 20.55 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net investment income(b) |
|
0.45 | 0.61 | 0.49 | 0.39 | 0.31 | 0.30 | |||||||||||||||||||||||
Net realized and unrealized gain on investments |
1.14 | (c) | 55.82 | 3.73 | 3.66 | 3.78 | 0.40 | |||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total from investment operations |
1.59 | 56.43 | 4.22 | 4.05 | 4.09 | 0.70 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||
Net investment income |
(0.53 | ) | (0.48 | ) | (0.61 | ) | (0.39 | ) | (0.30 | ) | (0.40 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net asset value at end of period |
$ | 88.92 | $ | 87.86 | $ | 31.91 | $ | 28.30 | $ | 24.64 | $ | 20.85 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Market price at end of period(d) |
$ | 88.85 | $ | 87.72 | $ | 31.93 | $ | 28.31 | $ | 24.66 | $ | 20.85 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Net Asset Value Total Return(e) |
1.87 | % | 176.87 | % | 15.13 | % | 16.76 | % | 19.78 | % | 3.60 | % | ||||||||||||||||||
Market Price Total Return(e) |
1.95 | % | 176.26 | % | 15.16 | % | 16.70 | % | 19.87 | % | 3.60 | % | ||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 2,003,321 | $ | 2,196,396 | $ | 247,876 | $ | 144,857 | $ | 116,263 | $ | 103,177 | ||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.61 | %(f) | 0.61 | % | 0.70 | % | 0.70 | % | 0.70 | % | 0.70 | % | ||||||||||||||||||
Expenses, prior to Waivers |
0.61 | %(f) | 0.61 | % | 0.70 | % | 0.71 | % | 0.77 | % | 0.76 | % | ||||||||||||||||||
Net investment income |
1.08 | %(f) | 0.71 | % | 1.57 | % | 1.56 | % | 1.30 | % | 1.59 | % | ||||||||||||||||||
Portfolio turnover rate(g) |
26 | % | 81 | % | 40 | % | 40 | % | 43 | % | 59 | % |
(a) |
Per share amounts have been adjusted to reflect a one-for-five reverse stock split effective after the close of business on October 20, 2017. |
(b) |
Based on average shares outstanding. |
(c) |
Net realized and unrealized gain (loss) on investments per share may not correlate with the Fund’s net realized and unrealized gain (loss) due to timing of shareholder transactions in relation to the fluctuating market values of the Fund’s investments. |
(d) |
The mean between the last bid and ask prices. |
(e) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(f) |
Annualized. |
(g) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
56 |
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Invesco Exchange-Traded Fund Trust
October 31, 2021
(Unaudited)
NOTE 1–Organization
Invesco Exchange-Traded Fund Trust (the “Trust”) was organized as a Massachusetts business trust and is authorized to have multiple series of portfolios. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). This report includes the following portfolios:
Full Name | Short Name | |
Invesco Aerospace & Defense ETF (PPA) |
“Aerospace & Defense ETF” | |
Invesco DWA Momentum ETF (PDP) |
“DWA Momentum ETF” | |
Invesco Global Listed Private Equity ETF (PSP) |
“Global Listed Private Equity ETF” | |
Invesco Golden Dragon China ETF (PGJ) |
“Golden Dragon China ETF” | |
Invesco MSCI Sustainable Future ETF (ERTH) |
“MSCI Sustainable Future ETF” | |
Invesco Raymond James SB-1 Equity ETF (RYJ) |
“Raymond James SB-1 Equity ETF” | |
Invesco S&P 500 BuyWrite ETF (PBP) |
“S&P 500 BuyWrite ETF” | |
Invesco S&P 500® Quality ETF (SPHQ) |
“S&P 500® Quality ETF” | |
Invesco S&P Spin-Off ETF (CSD) |
“S&P Spin-Off ETF” | |
Invesco Water Resources ETF (PHO) |
“Water Resources ETF” | |
Invesco WilderHill Clean Energy ETF (PBW) |
“WilderHill Clean Energy ETF” |
Each portfolio (each, a “Fund”, and collectively, the “Funds”) represents a separate series of the Trust. The shares of the Funds are referred to herein as “Shares” or “Fund’s Shares.” Each Fund’s Shares are listed and traded on NYSE Arca, Inc., except for Shares of DWA Momentum ETF, Golden Dragon China ETF and Water Resources ETF, which are listed and traded on The Nasdaq Stock Market.
The market price of each Share may differ to some degree from a Fund’s net asset value (“NAV”). Unlike conventional mutual funds, each Fund issues and redeems Shares on a continuous basis, at NAV, only in a large specified number of Shares, each called a “Creation Unit.” Creation Units are issued and redeemed principally in exchange for the deposit or delivery of a basket of securities (“Deposit Securities”). Except when aggregated in Creation Units by Authorized Participants, the Shares are not individually redeemable securities of the Funds.
The investment objective of each Fund is to seek to track the investment results (before fees and expenses) of its respective index listed below (each, an “Underlying Index”):
Fund | Underlying Index | |
Aerospace & Defense ETF |
SPADE® Defense Index | |
DWA Momentum ETF |
Dorsey Wright® Technical Leaders Index | |
Global Listed Private Equity ETF |
Red Rocks Global Listed Private Equity Index | |
Golden Dragon China ETF |
NASDAQ Golden Dragon China Index | |
MSCI Sustainable Future ETF |
MSCI Global Environment Select Index | |
Raymond James SB-1 Equity ETF |
Raymond James SB-1 Equity index | |
S&P 500 BuyWrite ETF |
CBOE S&P 500 BuyWrite IndexSM | |
S&P 500® Quality ETF |
S&P 500® Quality Index | |
S&P Spin-Off ETF |
S&P U.S. Spin-Off Index | |
Water Resources ETF |
NASDAQ OMX US Water IndexSM | |
WilderHill Clean Energy ETF |
WilderHill Clean Energy Index |
NOTE 2–Significant Accounting Policies
The following is a summary of the significant accounting policies followed by the Funds in preparation of their financial statements.
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services–Investment Companies.
57 |
||||
A. |
Security Valuation - Securities, including restricted securities, are valued according to the following policies: |
A security listed or traded on an exchange (except convertible securities) is generally valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded or, lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued by an independent pricing service they may be considered fair valued. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and asked prices from the exchange on which they are principally traded, or at the final settlement price set by such exchange. Swaps and options not listed on an exchange are valued by an independent source. For purposes of determining NAV per Share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange (“NYSE”).
Investment companies are valued using such company’s NAV per share, unless the shares are exchange-traded, in which case they are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded.
Debt obligations (including convertible securities) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a Fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.
Foreign securities’ (including foreign exchange contracts’) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the London world markets. If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that Invesco Capital Management LLC (the “Adviser”) determines are significant and make the closing price unreliable, a Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities’ prices meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, the potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.
Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The last bid price may be used to value exchange-traded equity securities. The mean between the last bid and asked prices may be used to value debt obligations, including corporate loans, and unlisted equity securities.
Securities for which market quotations are not readily available or became unreliable are valued at fair value as determined in good faith following procedures approved by the Board of Trustees. Issuer-specific events, market trends, bid/asked quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value.
Each Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.
Valuations change in response to many factors, including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or adverse investor sentiment generally and market liquidity. Because of the inherent
58 |
||||
uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
B. |
Investment Transactions and Investment Income - Investment transactions are accounted for on a trade date basis. Realized gains and losses from the sale or disposition of securities are computed on the specific identified cost basis. Interest income is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Dividend income from REITs is recorded based on the income included in the distributions received from the REIT investments using published REIT classifications, including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts. Realized gains, dividends and interest received by a Fund may give rise to withholding and other taxes imposed by foreign countries. Tax conventions between certain countries and the United States may reduce or eliminate such taxes. |
The Funds may periodically participate in litigation related to each Fund’s investments. As such, the Funds may receive proceeds from litigation settlements. Any proceeds received are included in the Statements of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.
Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statements of Operations and the Statements of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of each Fund’s NAV and, accordingly, they reduce each Fund’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statements of Operations and the Statements of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between each Fund and the Adviser.
C. |
Country Determination - For the purposes of presentation in the Schedules of Investments, the Adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include whether each Fund’s Underlying Index has made a country determination and may include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. |
Dividends and Distributions to Shareholders - Each Fund (except Raymond James SB-1 Equity ETF and S&P Spin-Off ETF) declares and pays dividends from net investment income, if any, to its shareholders quarterly and records such dividends on the ex-dividend date. Raymond James SB-1 Equity ETF and S&P Spin-Off ETF declare and pay dividends from net investment income, if any, to shareholders annually and records such dividends on the ex-dividend date. Generally, each Fund distributes net realized taxable capital gains, if any, annually in cash and records them on the ex-dividend date. Such distributions on a tax basis are determined in conformity with federal income tax regulations, which may differ from accounting principles generally accepted in the United States of America (“GAAP”). Distributions in excess of tax basis earnings and profits, if any, are reported in such Fund’s financial statements as a tax return of capital at fiscal year-end. |
E. |
Federal Income Taxes - Each Fund intends to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and to distribute substantially all of the Fund’s taxable earnings to its shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized gains) that is distributed to the shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. |
Each Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund’s uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.
Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing book and tax treatments for in-kind transactions, losses deferred due to wash sales, and passive foreign investment company adjustments, if any.
The Funds file U.S. federal tax returns and tax returns in certain other jurisdictions. Generally, a Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.
F. |
Expenses - Each Fund (except for S&P 500 BuyWrite ETF and Raymond James SB-1 Equity ETF) is responsible for all of its expenses, including the investment advisory fees, costs of transfer agency, custody, fund administration, legal, audit and other services, interest, taxes, brokerage commissions and other expenses connected with executions of portfolio transactions, |
59 |
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sub-licensing fees related to its respective Underlying Index, any distribution fees or expenses, litigation expenses, fees payable to the Trust’s Board members who are not “interested persons” (as defined in the 1940 Act) of the Trust (the “Independent Trustees”) or the Adviser, expenses incurred in connection with the Board members’ services, including travel expenses and legal fees of counsel for the Independent Trustees acquired fund fees and expenses, if any, and extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser). |
S&P 500 BuyWrite ETF and Raymond James SB-1 Equity ETF have agreed to pay an annual unitary management fee to the Adviser. Out of the unitary management fee, the Adviser has agreed to pay for substantially all expenses of the Fund, including the costs of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser).
Expenses of the Trust that are excluded from a Fund’s unitary management fee and are directly identifiable to a specific Fund are applied to that Fund. Expenses of the Trust that are excluded from a Fund’s unitary management fee and are not readily identifiable to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of each Fund.
To the extent a Fund invests in other investment companies, the expenses shown in the accompanying financial statements reflect the expenses of the Fund and do not include any expenses of the investment companies in which it invests. The effects of such investment companies’ expenses are included in the realized and unrealized gain or loss on the investments in the investment companies.
G. |
Accounting Estimates - The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements, including estimates and assumptions related to taxation. Actual results could differ from these estimates. In addition, the Funds monitor for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print. |
H. |
Indemnifications - Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Each Independent Trustee is also indemnified against certain liabilities arising out of the performance of their duties to the Trust pursuant to an Indemnification Agreement between such trustee and the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. |
I. |
Securities Lending - Each Fund (except for S&P 500 BuyWrite ETF) may participate in securities lending and may loan portfolio securities having a market value up to one-third of each Fund’s total assets. Such loans are secured by cash collateral equal to no less than 102% (105% for international securities) of the market value of the loaned securities determined daily by the securities lending provider. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the Investment Company Act and money market funds (collectively, “affiliated money market funds”) and is shown as such on the Schedules of Investments. Each Fund bears the risk of loss with respect to the investment of collateral. It is the policy of these Funds to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, each Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to each Fund if, and to the extent that, the market value of the securities loaned were to increase, and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or each Fund. Upon termination, the borrower will return to each Fund the securities loaned and each Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. Each Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to each Fund. Some of these losses may be indemnified by the lending agent. Each Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. For Funds that participated in securities lending, dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in Securities lending income on the Statements of Operations. The aggregate value of securities out on loan, if any, is shown on the Statements of Assets and Liabilities. |
On September 14, 2021, the Board of Trustees appointed Invesco Advisers, Inc. (“Invesco”), an affiliate of the Adviser, to serve as an affiliated securities lending agent for each Fund participating in the securities lending program. BNY Mellon (“BNYM”) also continues to serve as a lending agent. Prior to September 14, 2021, BNYM served as the sole securities
60 |
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lending agent for each Fund under the securities lending program. To the extent a Fund utilizes Invesco as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the six months ended October 31, 2021, S&P 500® Quality ETF had affiliated securities lending transactions with Invesco and the fees paid to Invesco by the Fund were less than $100.
J. |
Foreign Currency Translations - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. Each Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statements of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on a Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period-end, resulting from changes in exchange rates. |
Each Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which a Fund invests.
K. |
Call Options Purchased and Written - Certain Funds may write call options and/or buy call options. A covered call option gives the purchaser of such option the right to buy, and the writer the obligation to sell, the underlying security or foreign currency at the stated exercise price during the option period. An uncovered call option exists without the ownership of the underlying security. Options written by the Fund normally will have expiration dates between three and nine months from the date written. The exercise price of a call option may be below, equal to, or above the current market value of the underlying security at the time the option is written. |
When the Fund writes a covered call option, an amount equal to the premium received by the Fund is recorded as an asset and an equivalent liability in the Statements of Assets and Liabilities. The amount of the liability is subsequently “marked-to-market” to reflect the current market value of the option written. If a written covered call option expires on the stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or a loss if the closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such option is extinguished. If a written covered call option is exercised, the Fund realizes a gain or a loss from the sale of the underlying security and the proceeds of the sale are increased by the premium originally received. Realized and unrealized gains and losses on call options written are included in the Statements of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Option contracts written. A risk in writing a covered call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in writing an uncovered call option is that the Fund may incur significant losses if the value of the written security exceeds the exercise price of the option.
When the Fund buys a call option, an amount equal to the premium paid by the Fund is recorded as an investment on the Statements of Assets and Liabilities. The amount of the investment is subsequently “marked-to-market” to reflect the current value of the option purchased. Realized and unrealized gains and losses on call options purchased are included in the Statements of Operations as Net realized gain (loss) from and Change in net unrealized appreciation (depreciation) of Investment securities. A risk in buying an option is that the Fund pays a premium whether or not the option is exercised. In addition, there can be no assurance that a liquid secondary market will exist for any option purchased.
L. |
Swap Agreements - Certain Funds may enter into various swap transactions, including interest rate, total return, index, currency exchange rate and credit default swap contracts (“CDS”) for investment purposes or to manage interest rate, currency or credit risk. Such transactions are agreements between Counterparties. These agreements may contain, among other conditions, events of default and termination events, and various covenants and representations such as provisions that require the Fund to maintain a pre-determined level of net assets, and/or provide limits regarding the decline of the Fund’s NAV over specific periods of time. If the Fund were to trigger such provisions and have open derivative positions at that time, the Counterparty may be able to terminate such agreement and request immediate payment in an amount equal to the net liability positions, if any. |
Interest rate, total return, index and currency exchange rate swap agreements are two-party contracts entered into primarily to exchange the returns (or differentials in rates of returns) earned or realized on particular predetermined investments or instruments. The gross returns to be exchanged or “swapped” between the parties are calculated with respect
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to a notional amount, i.e., the return on or increase in value of a particular dollar amount invested at a particular interest rate or return of an underlying asset, in a particular foreign currency, or in a “basket” of securities representing a particular index.
In a centrally cleared swap, the Fund’s ultimate Counterparty is a central clearinghouse. The Fund initially will enter into centrally cleared swaps through an executing broker. When a fund enters into a centrally cleared swap, it must deliver to the central Counterparty (via the futures commission merchant (“FCM”)) an amount referred to as “initial margin.” Initial margin requirements are determined by the central Counterparty, but an FCM may require additional initial margin above the amount required by the central Counterparty. Initial margin deposits required upon entering into centrally cleared swaps are satisfied by cash or securities as collateral at the FCM. Securities deposited as initial margin are designated on the Schedule of Investments and cash deposited is recorded on the Statements of Assets and Liabilities. During the term of a cleared swap agreement, a “variation margin” amount may be required to be paid by the Fund or may be received by the Fund, based on the daily change in price of the underlying reference instrument subject to the swap agreement and is recorded as a receivable or payable for variation margin in the Statements of Assets and Liabilities until the centrally cleared swap is terminated at which time a realized gain or loss is recorded.
Changes in the value of swap agreements are recognized as unrealized gains (losses) in the Statements of Operations by “marking to market” on a daily basis to reflect the value of the swap agreement at the end of each trading day. Payments received or paid at the beginning of the agreement are reflected as such on the Statements of Assets and Liabilities and may be referred to as upfront payments. The Fund accrues for the fixed payment stream and amortizes upfront payments, if any, on swap agreements on a daily basis with the net amount, recorded as a component of realized gain (loss) on the Statements of Operations. A liquidation payment received or made at the termination of a swap agreement is recorded as realized gain (loss) on the Statements of Operations. The Fund segregates cash or liquid securities having a value at least equal to the amount of the potential obligation of the Fund under any swap transaction. Cash held as collateral is recorded as deposits with brokers on the Statements of Assets and Liabilities. Entering into these agreements involves, to varying degrees, lack of liquidity and elements of credit, market, and counterparty risk in excess of amounts recognized on the Statements of Assets and Liabilities. Such risks involve the possibility that a swap is difficult to sell or liquidate, the Counterparty does not honor its obligations under the agreement and unfavorable interest rates and market fluctuations. It is possible that developments in the swaps market, including potential government regulation, could adversely affect the Fund’s ability to terminate existing swap agreements or to realize amounts to be received under such agreements. Additionally, an International Swaps and Derivatives Association Master Agreement (“ISDA Master Agreement”) includes credit related contingent features which allow Counterparties to over-the-counter (“OTC”) derivatives to terminate derivative contracts prior to maturity in the event that, for example, the Fund’s net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA master agreements, which would cause the Fund to accelerate payment of any net liability owed to the Counterparty.
M. |
Other Risks |
ADR and GDR Risk. Certain Funds may invest in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). ADRs are certificates that evidence ownership of shares of a foreign issuer and are alternatives to purchasing the underlying foreign securities directly in their national markets and currencies. GDRs are certificates issued by an international bank that generally are traded and denominated in the currencies of countries other than the home country of the issuer of the underlying shares. ADRs and GDRs may be subject to certain of the risks associated with direct investments in the securities of foreign companies, such as currency, political, economic and market risks, because their values depend on the performance of the non-dollar denominated underlying foreign securities. Moreover, ADRs and GDRs may not track the price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets are not open for trading.
Authorized Participant Concentration Risk. Only authorized participants (“APs”) may engage in creation or redemption transactions directly with each Fund. Each Fund has a limited number of institutions that may act as APs, and such APs have no obligation to submit creation or redemption orders. Consequently, there is no assurance that APs will establish or maintain an active trading market for the Shares. This risk may be heightened to the extent that securities held by each Fund are traded outside a collateralized settlement system. In that case, APs may be required to post collateral on certain trades on an agency basis (i.e., on behalf of other market participants), which only a limited number of APs may be able to do. In addition, to the extent that APs exit the business or are unable to proceed with creation and/or redemption orders with respect to each Fund and no other AP is able to step forward to create or redeem Creation Units, this may result in a significantly diminished trading market for Fund Shares, and Shares may be more likely to trade at a premium or discount to a Fund’s NAV and to face trading halts and/or delisting. Investments in non-U.S. securities, which may have lower trading volumes, may increase this risk.
China Investment Risk. Investments in companies located or operating in Greater China involve risks not associated with investments in Western nations, such as nationalization, expropriation, or confiscation of property; difficulty in obtaining information necessary for investigations into and/or litigation against Chinese companies, as well as in obtaining and/or enforcing judgments; limited legal remedies for shareholders; alteration or discontinuation of economic reforms; military conflicts, either internal or with other countries; inflation, currency fluctuations and fluctuations in inflation and interest rates that may have negative effects on the economy and securities markets of Greater China; and Greater China’s dependency on the economies of other Asian countries, many of which are developing countries. Events in any one country within Greater
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China may impact the other countries in the region or Greater China as a whole. Export growth continues to be a major driver of China’s rapid economic growth. As a result, a reduction in spending on Chinese products and services, the institution of additional tariffs or other trade barriers (or the threat thereof), including as a result of trade tensions between China and the United States, or a downturn in any of the economies of China’s key trading partners may have an adverse impact on the Chinese economy. Further, health events, such as the recent coronavirus outbreak, may cause uncertainty and volatility in the Chinese economy, especially in the consumer discretionary (leisure, retail, gaming, tourism), industrials, and commodities sectors. Additionally, the inability of the Public Company Accounting Oversight Board (“PCAOB”) to inspect audit work papers and practices of PCAOB-registered accounting firms in China with respect to their audit work of U.S. reporting companies may impose significant additional risks associated with investments in China.
From time to time, certain companies in which a Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. Government and the United Nations and/or in countries the U.S. Government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company’s performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U. S. Government identifies as state sponsors of terrorism or subjects to sanctions.
Currency Risk. Because each Fund’s NAV is determined in U.S. dollars, a Fund’s NAV could decline if the currency of a non-U.S. market in which the Fund invests depreciates against the U.S. dollar. Generally, an increase in the value of the U.S. dollar against a foreign currency will reduce the value of a security denominated in that foreign currency, thereby decreasing a Fund’s overall NAV. Exchange rates may be volatile and may change quickly and unpredictably in response to both global economic developments and economic conditions, causing an adverse impact on a Fund. As a result, investors have the potential for losses regardless of the length of time they intend to hold Shares.
Emerging Markets Investment Risk. For certain Funds, investments in the securities of issuers in emerging market countries involve risks often not associated with investments in the securities of issuers in developed countries. Securities in emerging markets may be subject to greater price fluctuations than securities in more developed markets. Companies in emerging market countries generally may be subject to less stringent financial reporting, accounting, auditing and recordkeeping standards than companies in more developed countries. In addition, information about such companies may be less available and reliable. Emerging markets usually are subject to greater market volatility, political, social and economic instability, uncertainty regarding the existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Securities law in many emerging market countries is relatively new and unsettled. Therefore, laws regarding foreign investment in emerging market securities, securities regulation, title to securities, and shareholder rights may change quickly and unpredictably, and the ability to bring and enforce actions may be limited. In addition, the enforcement of systems of taxation at federal, regional and local levels in emerging market countries may be inconsistent and subject to sudden change. Investments in emerging markets securities may be subject to additional transaction costs, delays in settlement procedures, unexpected market closures, and lack of timely information. In addition, lack of relevant data and reliable public information about securities in emerging markets may contribute to incorrect weightings and data and computational errors when a Fund’s index provider selects securities for inclusion in the Fund’s Underlying Index or rebalances the Underlying Index.
Equity Risk. Equity risk is the risk that the value of equity securities, including common stocks, may fall due to both changes in general economic conditions that impact the market as a whole, as well as factors that directly relate to a specific company or its industry. Such general economic conditions include changes in interest rates, periods of market turbulence or instability, or general and prolonged periods of economic decline and cyclical change. It is possible that a drop in the stock market may depress the price of most or all of the common stocks that each Fund holds. In addition, equity risk includes the risk that investor sentiment toward one or more industries will become negative, resulting in those investors exiting their investments in those industries, which could cause a reduction in the value of companies in those industries more broadly. The value of a company’s common stock may fall solely because of factors, such as an increase in production costs that negatively impact other companies in the same region, industry or sector of the market. A company’s common stock also may decline significantly in price over a short period of time due to factors specific to that company, including decisions made by its management or lower demand for the company’s products or services. For example, an adverse event, such as an unfavorable earnings report or the failure to make anticipated dividend payments, may depress the value of common stock.
Foreign Investment Risk. Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers. Foreign securities also are subject to the risks of expropriation, nationalization, political instability, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers or other adverse political or economic developments and the difficulty of enforcing obligations in other countries. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. If a Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund’s returns.
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Index Risk. Unlike many investment companies, each Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index. Therefore, a Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming. Additionally, each Fund rebalances its portfolio in accordance with its Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to each Fund’s rebalance schedule.
Industry Concentration Risk. In following its methodology, each Fund’s Underlying Index will be concentrated to a significant degree in securities of issuers operating in a single industry or industry group. As a result, the corresponding Fund will also concentrate its investments to approximately the same extent. By concentrating its investments in an industry or industry group, each Fund faces more risks than if it were diversified broadly over numerous industries or industry groups. Such industry-based risks, any of which may adversely affect the companies in which each Fund invests, may include, but are not limited to, the following: general economic conditions or cyclical market patterns that could negatively affect supply and demand in a particular industry; competition for resources, adverse labor relations, political or world events; obsolescence of technologies; and increased competition or new product introductions that may affect the profitability or viability of companies in an industry. In addition, at times, such industry or industry group may be out of favor and underperform other industries or the market as a whole.
Listed Private Equity Companies Risk. There are certain risks inherent in investing in listed private equity companies, which encompass financial institutions or vehicles whose principal business is to invest in and lend capital to or provide services to privately held companies. Generally, little public information exists for private and thinly traded companies, and there is a risk that investors may not be able to make a fully informed investment decision. A Fund is also subject to the underlying risks which affect the listed private equity companies in which the financial institutions or vehicles held by the Fund invest. Listed private equity companies are subject to various risks depending on their underlying investments, which include additional liquidity risk, industry risk, foreign security risk, currency risk, valuation risk and credit risk. Listed private equity companies may have relatively concentrated investment portfolios, consisting of a relatively small number of holdings, which may be adversely impacted by the poor performance of a small number of investments. By investing in companies in the capital markets whose business is to lend money, there is a risk that the issuer may default on its payments or declare bankruptcy.
Market Risk. Securities in the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index. Additionally, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or other events could result in increased premiums or discounts to each Fund’s NAV.
Momentum Investing Risk. For certain Funds, the momentum style of investing is subject to the risk that the securities may be more volatile than the market as a whole, or that the returns on securities that previously have exhibited price momentum are less than returns on other styles of investing. Momentum can turn quickly, and stocks that previously have exhibited high positive momentum may not experience continued positive momentum. In addition, there may be periods when the momentum style of investing is out of favor and therefore, the investment performance of a Fund may suffer.
Non-Correlation Risk. Each Fund’s return may not match the return of its corresponding Underlying Index for a number of reasons. For example, each Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of its corresponding Underlying Index. In addition, the performance of each Fund and its corresponding Underlying Index may vary due to asset valuation differences and differences between each Fund’s portfolio and its corresponding Underlying Index resulting from legal restrictions, costs or liquidity constraints.
Non-Diversified Fund Risk. Because Aerospace & Defense ETF, Golden Dragon China ETF, S&P Spin-Off ETF and Water Resources ETF are non-diversified, and to the extent certain Funds become non-diversified, and can invest a greater portion of their respective assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase a Fund’s volatility and cause the performance of a relatively small number of issuers to have a greater impact on a Fund’s performance.
Portfolio Turnover Risk. Certain Funds may engage in frequent trading of their portfolio securities in connection with the rebalancing or adjustment of their respective Underlying Index. A portfolio turnover rate of 200%, for example, is equivalent to a Fund buying and selling all of its securities two times during the course of a year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs for a Fund. While a high portfolio turnover rate can result in an increase in taxable capital gains distributions to a Fund’s shareholders, a Fund will seek to utilize the in-kind creation and redemption mechanism to minimize the realization of capital gains to the extent possible.
REIT Risk. REITs are pooled investment vehicles that trade like stocks and invest substantially all of their assets in real estate and may qualify for special tax considerations. REITs are subject to certain risks inherent in the direct ownership of real estate, including without limitation, a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers. Further, failure of a company to qualify as a REIT under federal tax law may have adverse consequences to the REIT’s shareholders. In addition, REITs may have expenses, including advisory and administration expenses, and REIT shareholders will incur a proportionate share of the underlying expenses.
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Small- and Mid-Capitalization Company Risk. Investing in securities of small- and mid-capitalization companies involves greater risk than customarily is associated with investing in larger, more established companies. These companies’ securities may be more volatile and less liquid than those of more established companies. These securities may have returns that vary, sometimes significantly, from the overall securities market. Often small- and mid-capitalization companies and the industries in which they focus are still evolving and, as a result, they may be more sensitive to changing market conditions.
Thematic Investing Risk. MSCI Sustainable Future ETF relies on the index provider for its Underlying Index to identify securities that provide exposure to specific environmental themes, as set forth in the Underlying Index methodology. The Fund’s performance may suffer if such securities are not correctly identified. Performance may also suffer if the securities included in an Underlying Index do not benefit from the development of the applicable environmental theme. Further, to the extent that the index provider evaluates environmental, social and governance (“ESG”) factors as part of an Underlying Index’s methodology, there is a risk that information used by the index provider to evaluate these ESG factors may not be readily available, complete or accurate. This could negatively impact the index provider’s ability to apply its ESG standards when compiling the Underlying Index, and which may negatively impact the Fund’s performance. Performance may also be impacted by the inclusion of non-theme relevant exposures in the Underlying Index. There is no guarantee that the Underlying Index will reflect complete exposure to any particular environmental theme.
COVID-19 Risk. The COVID-19 strain of coronavirus has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain its spread have resulted in travel restrictions, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, and defaults, among other significant economic impacts that have disrupted global economic activity across many industries. Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally.
The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Funds’ performance.
NOTE 3–Investment Advisory Agreements and Other Agreements
The Trust has entered into Investment Advisory Agreements with the Adviser on behalf of the Funds, pursuant to which the Adviser has overall responsibility for the selection and ongoing monitoring of the Funds’ investments, managing the Funds’ business affairs and providing certain clerical, bookkeeping and other administrative services. Pursuant to an Investment Advisory Agreement, each Fund (except for Raymond James SB-1 Equity ETF, S&P 500 BuyWrite ETF and S&P 500® Quality ETF) accrues daily and pays monthly to the Adviser an annual fee of 0.50% of the Fund’s average daily net assets. S&P 500® Quality ETF accrues daily and pays monthly to the Adviser an annual fee of 0.15% of the Fund’s average daily net assets.
Pursuant to another Investment Advisory Agreement, Raymond James SB-1 Equity ETF and S&P 500 BuyWrite ETF accrue daily and pay monthly to the Adviser an annual unitary management fee of 0.75% and 0.49%, respectively, of the Fund’s average daily net assets. Out of the unitary management fee, the Adviser has agreed to pay for substantially all expenses of Raymond James SB-1 Equity ETF and S&P 500 BuyWrite ETF, including the cost of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser).
The Trust also has entered into an Amended and Restated Excess Expense Agreement (the “Expense Agreement”) with the Adviser on behalf of each Fund (except Raymond James SB-1 Equity ETF and S&P 500 BuyWrite ETF), pursuant to which the Adviser has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses (excluding interest expenses, brokerage commissions and other trading expenses, sub-licensing fees, offering costs, taxes, acquired fund fees and expenses, if any, and extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser)) of each Fund (except for Raymond James SB-1 Equity ETF, S&P 500 BuyWrite ETF and S&P 500® Quality ETF) from exceeding 0.60% of the Fund’s average daily net assets per year (the “Expense Cap”), through at least August 31, 2023. The Expense Cap (including sub-licensing fees) for S&P 500® Quality ETF is 0.15% of the Fund’s average daily net assets per year through at least August 31, 2023. Unless the Adviser continues the Expense Agreement, it will terminate on August 31, 2023. During its term, the Expense Agreement cannot be terminated or amended to increase the Expense Cap without approval of the Board of Trustees. The Adviser did not waive fees and/or pay Fund expenses during the period under this Expense Cap for Aerospace & Defense ETF, DWA Momentum ETF, Global Listed Private Equity ETF, Golden Dragon China ETF, MSCI Sustainable Future ETF, S&P Spin-Off ETF, Water Resources ETF and WilderHill Clean Energy ETF.
Additionally, through at least August 31, 2023, the Adviser has contractually agreed to waive the management fee payable by each Fund in an amount equal to the lesser of: (i) 100% of the net advisory fees earned by the Adviser or an affiliate of the Adviser that are attributable to the Fund’s investments in money market funds that are managed by affiliates of the Adviser and other funds (including ETFs) managed by the Adviser or affiliates of the Adviser or (ii) the management fee available to be waived. These waivers do not apply to a Fund’s investment of cash collateral received for securities lending. There is no guarantee that the Adviser will extend the waiver of these fees past that date. This agreement is not subject to recapture by the Adviser.
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For the six months ended ended October 31, 2021, the Adviser waived fees and/or paid Fund expenses for each Fund in the following amounts:
Aerospace & Defense ETF |
$ | 17 | ||
DWA Momentum ETF |
3 | |||
Global Listed Private Equity ETF |
99 | |||
Golden Dragon China ETF |
4 | |||
MSCI Sustainable Future ETF |
- | |||
Raymond James SB-1 Equity ETF |
- | |||
S&P 500 BuyWrite ETF |
- | |||
S&P 500® Quality ETF |
537,875 | |||
S&P Spin-Off ETF |
2 | |||
Water Resources ETF |
8 | |||
WilderHill Clean Energy ETF |
8,687 |
The fees waived and/or expenses borne by the Adviser, pursuant to the Expense Cap, are subject to recapture by the Adviser up to three years from the date the fees were waived or the expenses were incurred, but no recapture payment will be made by the Funds if it would result in the Funds exceeding (i) the Expense Cap or (ii) the expense cap in effect at the time the fees and/or expenses subject to recapture were waived and/or borne by the Adviser.
For the following Funds, the amounts available for potential future recapture by the Adviser under the Expense Agreement and the expiration schedule at October 31, 2021 are as follows:
Total | ||||||||||||||||||||
Potential | ||||||||||||||||||||
Recapture | Potential Recapture Amounts Expiring | |||||||||||||||||||
Amounts | 4/30/22 | 4/30/23 | 4/30/24 | 4/30/25 | ||||||||||||||||
S&P 500® Quality ETF |
$ | 2,784,904 | $ | 309,287 | $ | 943,093 | $ | 994,660 | $ | 537,864 | ||||||||||
S&P Spin-Off ETF |
17,273 | - | - | 17,273 | - |
The Trust has entered into a Distribution Agreement with Invesco Distributors, Inc. (the “Distributor”), which serves as the distributor of Creation Units for each Fund. The Distributor does not maintain a secondary market in the Shares. The Funds are not charged any fees pursuant to the Distribution Agreement. The Distributor is an affiliate of the Adviser.
The Adviser has entered into a licensing agreement for each Fund with the following entities (each, a “Licensor”):
Fund | Licensor | |||
Aerospace & Defense ETF |
SPADE Indexes | |||
DWA Momentum ETF |
Dorsey Wright & Associates, LLC | |||
Global Listed Private Equity ETF |
Red Rocks Capital, LLC | |||
Golden Dragon China ETF |
Nasdaq, Inc. | |||
MSCI Sustainable Future ETF |
MSCI, Inc. | |||
Raymond James SB-1 Equity ETF |
Raymond James Research Services, LLC | |||
S&P 500 BuyWrite ETF |
S&P Dow Jones Indices LLC | |||
S&P 500® Quality ETF |
S&P Dow Jones Indices LLC | |||
S&P Spin-Off ETF |
S&P Dow Jones Indices LLC | |||
Water Resources ETF |
Nasdaq, Inc. | |||
WilderHill Clean Energy ETF |
WilderHill |
Each Underlying Index name trademark is owned by its respective Licensor. These trademarks have been licensed to the Adviser for use by the Funds. Each Fund is entitled to use its Underlying Index pursuant to the Trust’s sub-licensing agreement with the Adviser. The Funds (except for Raymond James SB-1 Equity ETF and S&P 500 BuyWrite ETF) are required to pay the sub-licensing fees that are shown on the Statements of Operations. The Funds are not sponsored, endorsed, sold or promoted by the Licensors, and the Licensors make no representation regarding the advisability of investing in any of the Funds.
The Trust has entered into service agreements whereby The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as the administrator, custodian, fund accountant and transfer agent for each Fund.
66 |
||||
For the six months ended October 31, 2021, the following Funds incurred brokerage commissions with Invesco Capital Markets, Inc. (“ICMI”), an affiliate of the Adviser and Distributor, for portfolio transactions executed on behalf of the Funds, as listed below:
Aerospace & Defense ETF |
$ | 5,050 | ||
DWA Momentum ETF |
67,830 | |||
Golden Dragon China ETF |
386 | |||
MSCI Sustainable Future ETF |
13,053 | |||
Raymond James SB-1 Equity ETF |
15,973 | |||
S&P 500 BuyWrite ETF |
20 | |||
S&P 500® Quality ETF |
7,804 | |||
S&P Spin-Off ETF |
6,869 | |||
Water Resources ETF |
837 | |||
WilderHill Clean Energy ETF |
15,711 |
Portfolio transactions with ICMI that have not settled at period-end, if any, are shown in the Statements of Assets and Liabilities under the receivable caption Investments sold - affiliated broker and/or payable caption Investments purchased - affiliated broker.
NOTE 4–Security Transactions with Affiliated Funds
Each Fund is permitted to purchase or sell securities from or to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Fund from or to another fund or portfolio that is or could be considered an affiliate by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price.
For the six months ended October 31, 2021, the following Funds engaged in transactions with affiliates as listed below:
Securities Purchases |
Securities Sales |
Net Realized Gains* |
||||||||||||||||||||||||||||||||||
S&P 500 BuyWrite ETF |
$ | – | $ | 1,164 | $ | 173 | ||||||||||||||||||||||||||||||
S&P 500® Quality ETF |
1,187,175 | 3,717,057 | 407,002 |
* |
Net realized gains from securities sold to affiliates are included in net realized gain from investment securities in the Statements of Operations. |
NOTE 5–Additional Valuation Information
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – | Prices are determined using quoted prices in an active market for identical assets. | |||
Level 2 – | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | |||
Level 3 – | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect a Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
The following is a summary of the tiered valuation input levels, as of October 31, 2021, for each Fund (except for S&P 500 BuyWrite ETF). As of October 31, 2021, all of the securities in S&P 500 BuyWrite ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). The value on options held in S&P 500 BuyWrite ETF was based on Level 1 inputs. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in
67 |
||||
those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
Level 1 | Level 2 |
Level 3 |
Total | |||||||||||||||||||||
Aerospace & Defense ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 682,217,796 | $ | - | $ | - | $ | 682,217,796 | ||||||||||||||||
Money Market Funds |
536,729 | 47,990,425 | - | 48,527,154 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 682,754,525 | $ | 47,990,425 | $ | - | $ | 730,744,950 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
DWA Momentum ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 1,881,813,304 | $ | - | $ | - | $ | 1,881,813,304 | ||||||||||||||||
Money Market Funds |
252,422 | 125,293,593 | - | 125,546,015 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 1,882,065,726 | $ | 125,293,593 | $ | - | $ | 2,007,359,319 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Global Listed Private Equity ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 251,222,729 | $ | - | $ | - | $ | 251,222,729 | ||||||||||||||||
Closed-End Funds |
10,222,014 | - | - | 10,222,014 | ||||||||||||||||||||
Money Market Funds |
15,660,084 | 36,465,485 | - | 52,125,569 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments in Securities |
277,104,827 | 36,465,485 | - | 313,570,312 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Other Investments - Assets* |
||||||||||||||||||||||||
Swap Agreements |
- | 404,871 | - | 404,871 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Other Investments - Liabilities* |
||||||||||||||||||||||||
Swap Agreements |
- | (3,349 | ) | - | (3,349 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 277,104,827 | $ | 36,867,007 | $ | - | $ | 313,971,834 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Golden Dragon China ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 239,195,921 | $ | - | $ | 0 | $ | 239,195,921 | ||||||||||||||||
Money Market Funds |
273,639 | 74,261,563 | - | 74,535,202 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 239,469,560 | $ | 74,261,563 | $ | 0 | $ | 313,731,123 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
MSCI Sustainable Future ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 440,676,266 | $ | 566,038 | $ | - | $ | 441,242,304 | ||||||||||||||||
Exchange-Traded Funds |
5,098,798 | - | - | 5,098,798 | ||||||||||||||||||||
Money Market Funds |
- | 93,329,139 | - | 93,329,139 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 445,775,064 | $ | 93,895,177 | $ | - | $ | 539,670,241 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Raymond James SB-1 Equity ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 140,623,457 | $ | - | $ | - | $ | 140,623,457 | ||||||||||||||||
Money Market Funds |
- | 13,417,009 | - | 13,417,009 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 140,623,457 | $ | 13,417,009 | $ | - | $ | 154,040,466 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
S&P 500® Quality ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 3,259,935,699 | $ | - | $ | - | $ | 3,259,935,699 | ||||||||||||||||
Money Market Funds |
- | 83,235,468 | - | 83,235,468 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 3,259,935,699 | $ | 83,235,468 | $ | - | $ | 3,343,171,167 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
S&P Spin-Off ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 76,033,206 | $ | - | $ | - | $ | 76,033,206 | ||||||||||||||||
Money Market Funds |
129,615 | 6,076,247 | - | 6,205,862 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 76,162,821 | $ | 6,076,247 | $ | - | $ | 82,239,068 | ||||||||||||||||
|
|
|
|
|
|
|
|
68 |
||||
Level 1 | Level 2 |
Level 3 |
Total | |||||||||||||||||||||
Water Resources ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 2,025,241,497 | $ | - | $ | - | $ | 2,025,241,497 | ||||||||||||||||
Money Market Funds |
1,672,153 | 35,100,437 | - | 36,772,590 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 2,026,913,650 | $ | 35,100,437 | $ | - | $ | 2,062,014,087 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
WilderHill Clean Energy ETF |
||||||||||||||||||||||||
Investments in Securities |
||||||||||||||||||||||||
Common Stocks & Other Equity Interests |
$ | 2,001,918,381 | $ | - | $ | - | $ | 2,001,918,381 | ||||||||||||||||
Money Market Funds |
2,113,195 | 451,691,655 | - | 453,804,850 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||
Total Investments |
$ | 2,004,031,576 | $ | 451,691,655 | $ | - | $ | 2,455,723,231 | ||||||||||||||||
|
|
|
|
|
|
|
|
* |
Unrealized appreciation (depreciation). |
NOTE 6–Derivative Investments
The Funds may enter into an ISDA Master Agreement under which a Fund may trade OTC derivatives. An OTC transaction entered into under an ISDA Master Agreement typically involves a collateral posting arrangement, payment netting provisions and close-out netting provisions. These netting provisions allow for reduction of credit risk through netting of contractual obligations. The enforceability of the netting provisions of the ISDA Master Agreement depends on the governing law of the ISDA Master Agreement, among other factors.
For financial reporting purposes, the Funds do not offset OTC derivative assets or liabilities that are subject to ISDA Master Agreements in the Statements of Assets and Liabilities.
Value of Derivative Investments at Period-End
The table below summarizes the value of each Fund’s derivative investments, detailed by primary risk exposure, held as of October 31, 2021:
Value | ||||||||||||||||||||||
Global Listed Private Equity ETF |
S&P 500 BuyWrite ETF | |||||||||||||||||||||
Derivative Assets |
Equity Risk |
Equity Risk |
||||||||||||||||||||
|
| |||||||||||||||||||||
Unrealized appreciation on swap agreements-OTC |
$ | 404,871 | $ | - | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Total Derivative Assets subject to master netting agreements |
$ | 404,871 | $ | - | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Value | ||||||||||||||||||||||
Global Listed Private Equity ETF |
S&P 500 BuyWrite ETF | |||||||||||||||||||||
Derivative Liabilities |
Equity Risk |
Equity Risk |
||||||||||||||||||||
|
| |||||||||||||||||||||
Unrealized depreciation on swap agreements-OTC |
$ | (3,349 | ) | $ | - | |||||||||||||||||
Options written, at value-Exchange-Traded |
- | (6,119,755 | ) | |||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Total Derivative Liabilities |
(3,349 | ) | (6,119,755 | ) | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Derivatives not subject to master netting agreements |
- | 6,119,755 | ||||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Total Derivative Liabilities subject to master netting agreements |
$ | (3,349 | ) | $ | - | |||||||||||||||||
|
|
|
|
Offsetting Assets and Liabilities
The table below reflects the Funds’ exposure to Counterparties subject to either an ISDA Master Agreement or other agreement for OTC derivative transactions as of October 31, 2021:
Global Listed Private Equity ETF
Financial Derivative Assets |
Financial Derivative Liabilities |
Collateral (Received)/Pledged |
||||||||||||||||||||||||||||
Counterparty | Swap Agreements | Swap Agreements | Net Value of Derivatives |
Non-Cash |
Cash |
Net Amount | ||||||||||||||||||||||||
Citibank, N.A. |
$ | 404,871 | $ | (3,349 | ) | $ | 401,522 | $ | - | $ | - | $ | 401,522 |
69 |
||||
Effect of Derivative Investments for the Six-Month Period Ended October 31, 2021
The table below summarizes each Fund’s gains (losses) on derivative investments, detailed by primary risk exposure, recognized in earnings during the period:
Location of Gain (Loss) on Statements of Operations | ||||||||||||||||||||||
Global Listed Private Equity ETF |
S&P 500 BuyWrite ETF | |||||||||||||||||||||
Equity Risk |
||||||||||||||||||||||
| ||||||||||||||||||||||
Realized Gain: |
||||||||||||||||||||||
Options written |
$ | - | $ | 2,783,292 | ||||||||||||||||||
Swap agreements |
4,347,444 | - | ||||||||||||||||||||
Change in Net Unrealized Appreciation (Depreciation): |
||||||||||||||||||||||
Options written |
- | (3,935,115 | ) | |||||||||||||||||||
Swap agreements |
152,415 | - | ||||||||||||||||||||
|
|
|
|
|||||||||||||||||||
Total |
$ | 4,499,859 | $ | (1,151,823 | ) | |||||||||||||||||
|
|
|
|
|||||||||||||||||||
The table below summarizes the average notional value of derivatives held during the period.
|
|
Average Notional Value | ||||||||||||||||||||||
Global Listed Private Equity ETF |
S&P 500 BuyWrite ETF | |||||||||||||||||||||
Options written |
$ | - | $ | 172,775,286 | ||||||||||||||||||
Swap agreements |
13,731,660 | - |
NOTE 7–Tax Information
The amount and character of income and gains to be distributed are determined in accordance with federal income tax regulations, which may differ from GAAP. Reclassifications are made to the Funds’ capital accounts to reflect income and gains available for distribution (or available capital loss carryforwards) under federal income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Funds’ fiscal year-end.
Capital loss carryforwards are calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforwards actually available for the Funds to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.
The Funds had capital loss carryforwards as of April 30, 2021, as follows:
No expiration | ||||||||||||
Short-Term | Long-Term | Total* | ||||||||||
Aerospace & Defense ETF |
$ | 18,499,572 | $ | 23,005,498 | $ | 41,505,070 | ||||||
DWA Momentum ETF |
402,014,109 | - | 402,014,109 | |||||||||
Global Listed Private Equity ETF |
24,988,933 | 65,477,437 | 90,466,370 | |||||||||
Golden Dragon China ETF |
34,844,569 | 189,109,766 | 223,954,335 | |||||||||
MSCI Sustainable Future ETF |
- | - | - | |||||||||
Raymond James SB-1 Equity ETF |
38,711,527 | 29,376,800 | 68,088,327 | |||||||||
S&P 500 BuyWrite ETF |
- | 6,805,905 | 6,805,905 | |||||||||
S&P 500® Quality ETF |
127,172,054 | 103,873,770 | 231,045,824 | |||||||||
S&P Spin-Off ETF |
60,713,774 | 92,076,260 | 152,790,034 | |||||||||
Water Resources ETF |
159,825,458 | 126,040,212 | 285,865,670 | |||||||||
WilderHill Clean Energy ETF |
110,387,806 | 346,087,966 | 456,475,772 |
* |
Capital loss carryforwards are reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. |
70 |
||||
NOTE 8–Investment Transactions
For the six months ended October 31, 2021, the cost of securities purchased and the proceeds from sales of securities (other than short-term securities, U.S. Government obligations, money market funds and in-kind transactions, if any) were as follows:
Purchases | Sales | |||||||
Aerospace & Defense ETF |
$ | 110,569,867 | $ | 108,907,633 | ||||
DWA Momentum ETF |
1,748,798,621 | 1,757,680,192 | ||||||
Global Listed Private Equity ETF |
81,145,144 | 88,829,466 | ||||||
Golden Dragon China ETF |
60,712,188 | 60,734,793 | ||||||
MSCI Sustainable Future ETF |
77,542,624 | 136,795,666 | ||||||
Raymond James SB-1 Equity ETF |
62,113,918 | 60,837,433 | ||||||
S&P 500 BuyWrite ETF |
26,952,479 | 24,243,950 | ||||||
S&P 500® Quality ETF |
1,175,957,654 | 1,176,126,263 | ||||||
S&P Spin-Off ETF |
30,237,113 | 29,954,399 | ||||||
Water Resources ETF |
269,551,781 | 268,210,998 | ||||||
WilderHill Clean Energy ETF |
515,269,034 | 519,866,068 |
For the six months ended October 31, 2021, in-kind transactions associated with creations and redemptions were as follows:
In-kind Purchases |
In-kind Sales |
|||||||
Aerospace & Defense ETF |
$ | 115,973,101 | $ | 160,704,399 | ||||
DWA Momentum ETF |
1,103,575,942 | 1,189,776,372 | ||||||
Global Listed Private Equity ETF |
60,443,176 | 30,252,435 | ||||||
Golden Dragon China ETF |
70,048,327 | 21,919,767 | ||||||
MSCI Sustainable Future ETF |
40,153,074 | 62,142,380 | ||||||
Raymond James SB-1 Equity ETF |
34,704,371 | 41,433,002 | ||||||
S&P 500 BuyWrite ETF |
4,638,063 | 11,832,116 | ||||||
S&P 500® Quality ETF |
1,294,604,528 | 1,043,704,323 | ||||||
S&P Spin-Off ETF |
644,687 | 654,291 | ||||||
Water Resources ETF |
472,078,428 | 231,656,409 | ||||||
WilderHill Clean Energy ETF |
788,714,932 | 971,020,763 |
Gains (losses) on in-kind transactions are generally not considered taxable gains (losses) for federal income tax purposes.
At October 31, 2021, the aggregate cost of investments, including any derivatives, on a tax basis includes adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:
Gross Unrealized Appreciation |
Gross Unrealized (Depreciation) |
Net Unrealized Appreciation (Depreciation) |
Cost | |||||||||||||
Aerospace & Defense ETF |
$ | 94,476,203 | $ | (25,758,526 | ) | $ | 68,717,677 | $ | 662,027,273 | |||||||
DWA Momentum ETF |
254,907,081 | (19,855,039 | ) | 235,052,042 | 1,772,307,277 | |||||||||||
Global Listed Private Equity ETF |
60,881,969 | (22,842,177 | ) | 38,039,792 | 275,932,042 | |||||||||||
Golden Dragon China ETF |
25,869,463 | (73,777,664 | ) | (47,908,201 | ) | 361,639,324 | ||||||||||
MSCI Sustainable Future ETF |
98,016,684 | (15,261,305 | ) | 82,755,379 | 456,914,862 | |||||||||||
Raymond James SB-1 Equity ETF |
30,243,965 | (7,475,775 | ) | 22,768,190 | 131,272,276 | |||||||||||
S&P 500 BuyWrite ETF |
82,869,298 | (75,980,543 | ) | 6,888,755 | 170,036,830 | |||||||||||
S&P 500® Quality ETF |
578,110,684 | (48,422,636 | ) | 529,688,048 | 2,813,483,119 | |||||||||||
S&P Spin-Off ETF |
19,077,550 | (4,301,129 | ) | 14,776,421 | 67,462,647 | |||||||||||
Water Resources ETF |
554,374,976 | (14,027,836 | ) | 540,347,140 | 1,521,666,947 | |||||||||||
WilderHill Clean Energy ETF |
211,295,345 | (501,536,962 | ) | (290,241,617 | ) | 2,745,964,848 |
71 |
||||
NOTE 9–Trustees’ and Officer’s Fees
Trustees’ and Officer’s Fees include amounts accrued by the Funds to pay remuneration to the Independent Trustees and an Officer of the Trust. The Adviser, as a result of the unitary management fee, pays for such compensation for Raymond James SB-1 Equity ETF and S&P 500 BuyWrite ETF. The Trustee who is an “interested person” of the Trust does not receive any Trustees’ fees.
The Trust has adopted a deferred compensation plan (the “Plan”). Under the Plan, each Independent Trustee who has executed a Deferred Fee Agreement (a “Participating Trustee”) may defer receipt of all or a portion of their compensation (“Deferral Fees”). Such Deferral Fees are deemed to be invested in select Invesco Funds. The Deferral Fees payable to a Participating Trustee are valued as of the date such Deferral Fees would have been paid to the Participating Trustee. The value increases with contributions or with increases in the value of the Shares selected, and the value decreases with distributions or with declines in the value of the Shares selected. Obligations under the Plan represent unsecured claims against the general assets of the Funds.
NOTE 10–Capital
Shares are issued and redeemed by each Fund only in Creation Units consisting of a specified number of Shares as set forth in each Fund’s prospectus. Only Authorized Participants are permitted to purchase or redeem Creation Units from the Funds. Such transactions are principally permitted in exchange for Deposit Securities, with a balancing cash component to equate the transaction to the NAV per Share of a Fund on the transaction date. However, for all Funds, cash in an amount equivalent to the value of certain securities may be substituted, generally when the securities are not available in sufficient quantity for delivery, not eligible for trading by the Authorized Participant or as a result of other market circumstances.
To the extent that the Funds permit transactions in exchange for Deposit Securities, each Fund may issue Shares in advance of receipt of Deposit Securities subject to various conditions, including a requirement to maintain on deposit with the Trust cash at least equal to 105% of the market value of the missing Deposit Securities. In accordance with the Trust’s Participant Agreement, Creation Units will be issued to an Authorized Participant, notwithstanding the fact that the corresponding Deposit Securities have not been received in part or in whole, in reliance on the undertaking of the Authorized Participant to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by the Authorized Participant’s delivery and maintenance of collateral consisting of cash in the form of U.S. dollars in immediately available funds having a value (marked-to-market daily) at least equal to 105%, which the Adviser may change from time to time, of the value of the missing Deposit Securities.
Certain transaction fees may be charged by the Funds for creations and redemptions, which are treated as increases in capital.
Transactions in each Fund’s Shares are disclosed in detail in the Statements of Changes in Net Assets.
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Calculating your ongoing Fund expenses
Example
As a shareholder of a Fund of the Invesco Exchange-Traded Fund Trust (excluding Invesco S&P 500 BuyWrite ETF and Invesco Raymond James SB-1 Equity ETF), you incur advisory fees and other Fund expenses. As a shareholder of Invesco S&P 500 BuyWrite ETF or Invesco Raymond James SB-1 Equity ETF, you incur a unitary management fee. In addition to the unitary management fee, a shareholder may pay distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser). The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period May 1, 2021 through October 31, 2021.
In addition to the fees and expenses which the Invesco Global Listed Private Equity ETF bears directly, the Portfolio indirectly bears a pro rata share of the fees and expenses of the investment companies in which the Portfolios invests. The amount of fees and expenses incurred indirectly by the Portfolio will vary because the investment companies have varied expenses and fee levels and the Portfolio may own different proportions of the investment companies at different times. Estimated investment companies’ expenses are not expenses that are incurred directly by the Portfolio. They are expenses that are incurred directly by the investment companies and are deducted from the value of the investment companies the Portfolio invests in. The effect of the estimated investment companies’ expenses that the Portfolio bears indirectly is included in the Portfolio’s total returns.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed annualized rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs, such as sales charges and brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, expenses shown in the table do not include the expenses of the underlying funds, which are borne indirectly by a Fund. If transaction costs and indirect expenses were included, your costs would have been higher.
Beginning Account Value May 1, 2021 |
Ending Account Value October 31, 2021 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) |
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Invesco Aerospace & Defense ETF (PPA) |
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Actual |
$ | 1,000.00 | $ | 980.40 | 0.59 | % | $ | 2.95 | ||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.23 | 0.59 | 3.01 | ||||||||||||||||||||||||||||||||||||||||||
Invesco DWA Momentum ETF (PDP) |
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Actual |
1,000.00 | 1,115.90 | 0.62 | 3.31 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.08 | 0.62 | 3.16 |
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Calculating your ongoing Fund expenses—(continued)
Beginning Account Value May 1, 2021 |
Ending Account Value October 31, 2021 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) |
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Invesco Global Listed Private Equity ETF (PSP) |
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Actual |
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$ | 1,000.00 | $ | 1,114.50 | 0.65 | % | $ | 3.46 | |||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,021.93 | 0.65 | 3.31 | ||||||||||||||||||||||||||||||||||||||||||
Invesco Golden Dragon China ETF (PGJ) |
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Actual |
1,000.00 | 697.60 | 0.68 | 2.91 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,021.78 | 0.68 | 3.47 | ||||||||||||||||||||||||||||||||||||||||||
Invesco MSCI Sustainable Future ETF (ERTH) |
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Actual |
1,000.00 | 1,108.60 | 0.54 | 2.87 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.48 | 0.54 | 2.75 | ||||||||||||||||||||||||||||||||||||||||||
Invesco Raymond James SB-1 Equity ETF (RYJ) |
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Actual |
1,000.00 | 1,040.60 | 0.75 | 3.86 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,021.42 | 0.75 | 3.82 | ||||||||||||||||||||||||||||||||||||||||||
Invesco S&P 500 BuyWrite ETF (PBP) |
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Actual |
1,000.00 | 1,103.50 | 0.49 | 2.60 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.74 | 0.49 | 2.50 | ||||||||||||||||||||||||||||||||||||||||||
Invesco S&P 500® Quality ETF (SPHQ) |
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Actual |
1,000.00 | 1,133.30 | 0.15 | 0.81 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,024.45 | 0.15 | 0.77 | ||||||||||||||||||||||||||||||||||||||||||
Invesco S&P Spin-Off ETF (CSD) |
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Actual |
1,000.00 | 1,006.70 | 0.65 | 3.29 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,021.93 | 0.65 | 3.31 | ||||||||||||||||||||||||||||||||||||||||||
Invesco Water Resources ETF (PHO) |
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Actual |
1,000.00 | 1,111.40 | 0.59 | 3.14 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.23 | 0.59 | 3.01 | ||||||||||||||||||||||||||||||||||||||||||
Invesco WilderHill Clean Energy ETF (PBW) |
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Actual |
1,000.00 | 1,018.70 | 0.61 | 3.10 | ||||||||||||||||||||||||||||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.13 | 0.61 | 3.11 |
(1) |
Expenses are calculated using the annualized expense ratio, which represents the ongoing expenses as a percentage of net assets for the six-month period ended October 31, 2021. Expenses are calculated by multiplying the Fund’s annualized expense ratio by the average account value for the period, then multiplying the result by 184/365. |
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Proxy Voting Policies and Procedures
A description of the Trust’s proxy voting policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available, without charge and upon request, by calling (800) 983-0903. This information is also available on the Securities and Exchange Commission’s (the “Commission”) website at www.sec.gov.
Information regarding how each Fund voted proxies for portfolio securities, if applicable, during the most recent 12-month period ended June 30, is available, without charge and upon request, by (i) calling (800) 983-0903; or (ii) accessing the Trust’s Form N-PX on the Commission’s website at www.sec.gov.
Quarterly Portfolios
The Trust files its complete schedule of portfolio holdings for the Funds with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Forms N-PORT are available on the Commission’s website at www.sec.gov.
Frequency Distribution of Discounts and Premiums
A table showing the number of days the market price of each Fund’s shares was greater than the Fund’s net asset value, and the number of days it was less than the Fund’s net asset value (i.e., premium or discount) for the most recently completed calendar year, and the calendar quarters since that year end (or the life of the Fund, if shorter) may be found at the Fund’s website at www.invesco.com/ETFs.
©2021 Invesco Capital Management LLC | ||||
3500 Lacey Road, Suite 700 | ||||
Downers Grove, IL 60515 | P-PS-SAR-4 | invesco.com/ETFs |