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Invesco Semi-Annual Report to Shareholders

 

February 28, 2023

 

IBBQ      Invesco Nasdaq Biotechnology ETF

 

SOXQ     Invesco PHLX Semiconductor ETF

 

TAN        Invesco Solar ETF

 

Table of Contents

 

Schedules of Investments

   

Invesco Nasdaq Biotechnology ETF (IBBQ)

      3  

Invesco PHLX Semiconductor ETF (SOXQ)

      7  

Invesco Solar ETF (TAN)

      9  

Statements of Assets and Liabilities

      12  

Statements of Operations

      13  

Statements of Changes in Net Assets

      14  

Financial Highlights

      15  

Notes to Financial Statements

      18  

Fund Expenses

      28  

 

    2    

 

  

 

 

 

Invesco Nasdaq Biotechnology ETF (IBBQ)

February 28, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares       Value  

Common Stocks & Other Equity Interests-99.90%

 

Biotechnology-80.16%

     

2seventy bio, Inc.(b)(c)

     719       $ 9,699  

4D Molecular Therapeutics, Inc.(b)

     614       11,813  

89bio, Inc.(b)

     882       12,013  

Abcam PLC, ADR (United Kingdom)(b)

     586       8,444  

Acadia Pharmaceuticals, Inc.(b)(c)

     3,049       63,084  

Acumen Pharmaceuticals, Inc.(b)

     776       4,090  

Adaptimmune Therapeutics PLC, ADR(b)(c)

     2,742       4,853  

Adicet Bio, Inc.(b)(c)

     812       6,399  

ADMA Biologics, Inc.(b)(c)

     4,182       14,846  

Affimed N.V. (Germany)(b)(c)

     2,831       2,574  

Agios Pharmaceuticals, Inc.(b)

     1,039       26,297  

Akero Therapeutics, Inc.(b)

     879       40,003  

Alaunos Therapeutics, Inc.(b)

     4,558       2,530  

Alector, Inc.(b)

     1,568       13,391  

Alkermes PLC(b)

     3,109       83,135  

Allakos, Inc.(b)

     1,615       9,609  

Allogene Therapeutics, Inc.(b)(c)

     2,734       17,361  

Allovir, Inc.(b)(c)

     1,766       11,920  

Alnylam Pharmaceuticals, Inc.(b)

     2,329       445,887  

Alpine Immune Sciences, Inc.(b)(c)

     870       6,934  

Altimmune, Inc.(b)(c)

     932       11,734  

ALX Oncology Holdings, Inc.(b)(c)

     773       5,117  

Amarin Corp. PLC, ADR (Ireland)(b)

     7,611       15,450  

Amgen, Inc.

      5,765         1,335,520  

Amicus Therapeutics, Inc.(b)(c)

     5,303       69,947  

AnaptysBio, Inc.(b)(c)

     539       13,421  

Anavex Life Sciences Corp.(b)(c)

     1,478       14,071  

Annexon, Inc.(b)(c)

     903       4,813  

Apellis Pharmaceuticals, Inc.(b)

     2,091       136,919  

Arbutus Biopharma Corp.(b)

     2,966       8,245  

Arcellx, Inc.(b)(c)

     831       23,276  

Arcturus Therapeutics Holdings, Inc.(b)(c)

     502       8,158  

Arcutis Biotherapeutics, Inc.(b)(c)

     1,155       18,688  

Ardelyx, Inc.(b)

     3,554       10,236  

Argenx SE, ADR (Netherlands)(b)

     588       215,220  

Arrowhead Pharmaceuticals, Inc.(b)(c)

     2,000       64,600  

ARS Pharmaceuticals, Inc.(b)

     1,778       15,860  

Ascendis Pharma A/S, ADR (Denmark)(b)

     1,056       117,311  

Atara Biotherapeutics, Inc.(b)(c)

     1,799       7,286  

Aurinia Pharmaceuticals, Inc. (Canada)(b)

     2,694       24,488  

Avidity Biosciences, Inc.(b)

     1,258       29,815  

Beam Therapeutics, Inc.(b)(c)

     1,327       53,398  

BeiGene Ltd., ADR (China)(b)(c)

     906       203,515  

BELLUS Health, Inc. (Canada)(b)

     2,385       18,364  

Bicycle Therapeutics PLC, ADR (United Kingdom)(b)(c)

     484       11,001  

BioAtla, Inc.(b)

     875       2,608  

BioCryst Pharmaceuticals, Inc.(b)(c)

     3,524       31,187  

Biogen, Inc.(b)

     2,705       729,971  

BioMarin Pharmaceutical, Inc.(b)

     3,518       350,358  

Biomea Fusion, Inc.(b)

     557       7,152  

BioNTech SE, ADR (Germany)

      1,741       226,417  

Bluebird Bio, Inc.(b)

     1,959       10,187  

Blueprint Medicines Corp.(b)

     1,125       47,666  

Bridgebio Pharma, Inc.(b)(c)

     2,819       32,193  

C4 Therapeutics, Inc.(b)(c)

     928       4,891  

Caribou Biosciences, Inc.(b)

     1,157       7,046  
         Shares       Value  

Biotechnology-(continued)

     

Centessa Pharmaceuticals PLC, ADR(b)(c)

     995       $ 3,502  

Century Therapeutics, Inc.(b)(c)

     1,118       5,042  

Chinook Therapeutics, Inc.(b)(c)

     1,212       26,446  

Cogent Biosciences, Inc.(b)

     1,325       17,530  

Coherus Biosciences, Inc.(b)(c)

     1,475       9,986  

Compass Pathways PLC, ADR (United Kingdom)(b)(c)

     449       3,704  

Concert Pharmaceuticals, Inc.(b)

     1,184       9,922  

Crinetics Pharmaceuticals, Inc.(b)(c)

     1,020       20,033  

CRISPR Therapeutics AG (Switzerland)(b)(c)

     1,478       72,895  

Cullinan Oncology, Inc.(b)

     868       9,800  

CureVac N.V. (Germany)(b)

     4,206       36,340  

Cytokinetics, Inc.(b)(c)

     1,784       77,354  

Day One Biopharmaceuticals, Inc.(b)(c)

     1,394       25,677  

Deciphera Pharmaceuticals, Inc.(b)

     1,405       20,372  

Denali Therapeutics, Inc.(b)(c)

     2,565       69,640  

Design Therapeutics, Inc.(b)

     1,060       7,494  

Dyne Therapeutics, Inc.(b)

     988       12,725  

Eagle Pharmaceuticals, Inc.(b)

     247       6,916  

Editas Medicine, Inc.(b)(c)

     1,304       11,788  

Eiger BioPharmaceuticals, Inc.(b)

     836       1,572  

Enanta Pharmaceuticals, Inc.(b)

     394       19,109  

EQRx, Inc.(b)

     9,260       20,928  

Erasca, Inc.(b)(c)

     2,610       9,396  

Evelo Biosciences, Inc.(b)(c)

     2,078       1,288  

Exelixis, Inc.(b)(c)

     6,100       104,188  

Exscientia PLC, ADR (United Kingdom)(b)

     685       4,459  

Fate Therapeutics, Inc.(b)

     1,842       11,273  

FibroGen, Inc.(b)(c)

     1,776       39,427  

Foghorn Therapeutics, Inc.(b)(c)

     793       4,544  

G1 Therapeutics, Inc.(b)

     960       3,475  

Galapagos N.V., ADR (Belgium)(b)

     254       9,521  

Generation Bio Co.(b)

     1,127       4,463  

Genmab A/S, ADR (Denmark)(b)

     810       30,424  

Geron Corp.(b)(c)

     8,278       23,013  

Gilead Sciences, Inc.

      18,800         1,513,964  

Gossamer Bio., Inc.(b)(c)

     1,791       3,098  

Gracell Biotechnologies, Inc., ADR
(China)(b)

     1,264       2,541  

Graphite Bio, Inc.(b)

     1,103       2,901  

GreenLight Biosciences Holdings PBC(b)

     2,873       1,379  

Grifols S.A., ADR (Spain)(b)

     2,108       18,255  

Gritstone bio, Inc.(b)(c)

     1,581       3,873  

Halozyme Therapeutics, Inc.(b)(c)

     2,559       122,806  

HilleVax, Inc.(b)

     632       10,649  

Horizon Therapeutics PLC(b)

     4,290       469,712  

Humacyte, Inc.(b)

     1,955       5,982  

Ideaya Biosciences, Inc.(b)(c)

     912       16,097  

IGM Biosciences, Inc.(b)

     552       11,603  

I-Mab, ADR (China)(b)

     1,033       4,442  

Immuneering Corp., Class A(b)(c)

     501       2,450  

ImmunityBio, Inc.(b)

     7,539       18,395  

Immunocore Holdings PLC, ADR (United Kingdom)(b)(c)

     486       26,657  

ImmunoGen, Inc.(b)

     4,185       16,238  

Immunovant, Inc.(b)(c)

     2,443       42,679  

Incyte Corp.(b)

     4,211       324,163  

Inhibrx, Inc.(b)

     826       19,874  

Inovio Pharmaceuticals, Inc.(b)

     4,730       5,960  

 

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

 

    3    

 

  

 

 

 

Invesco Nasdaq Biotechnology ETF (IBBQ)–(continued)

February 28, 2023

(Unaudited)

    

 

         Shares       Value  

Biotechnology-(continued)

     

Insmed, Inc.(b)(c)

     2,549     $ 51,949  

Instil Bio, Inc.(b)

     2,460         1,912  

Intellia Therapeutics, Inc.(b)

     1,484       59,612  

Intercept Pharmaceuticals, Inc.(b)

     785       15,841  

Invivyd, Inc.(b)(c)

     2,066       3,595  

Ionis Pharmaceuticals, Inc.(b)(c)

     2,683       96,320  

Iovance Biotherapeutics, Inc.(b)

     2,992       21,812  

Ironwood Pharmaceuticals, Inc.(b)

     2,901       32,694  

iTeos Therapeutics, Inc.(b)

     674       11,937  

IVERIC bio, Inc.(b)(c)

     2,570       53,405  

Karuna Therapeutics, Inc.(b)(c)

     649            129,424  

Karyopharm Therapeutics, Inc.(b)

     2,154       6,505  

Keros Therapeutics, Inc.(b)(c)

     522       27,781  

Kezar Life Sciences, Inc.(b)

     1,296       8,152  

Kiniksa Pharmaceuticals Ltd., Class A(b)

     655       8,423  

Kinnate Biopharma, Inc.(b)

     837       4,419  

Kodiak Sciences, Inc.(b)

     992       6,448  

Krystal Biotech, Inc.(b)(c)

     488       39,972  

Kura Oncology, Inc.(b)

     1,294       15,424  

Kymera Therapeutics, Inc.(b)(c)

     1,034       32,447  

Legend Biotech Corp., ADR(b)(c)

     1,223       56,478  

Lexicon Pharmaceuticals, Inc.(b)(c)

     3,578       8,051  

Lyell Immunopharma, Inc.(b)(c)

     4,727       10,163  

MacroGenics, Inc.(b)

     1,166       7,101  

Madrigal Pharmaceuticals, Inc.(b)(c)

     323       87,536  

MannKind Corp.(b)(c)

     4,990       26,347  

MeiraGTx Holdings PLC(b)

     848       6,547  

Mersana Therapeutics, Inc.(b)

     1,892       11,466  

Merus N.V. (Netherlands)(b)(c)

     878       16,743  

Mirati Therapeutics, Inc.(b)(c)

     1,085       49,736  

Mirum Pharmaceuticals, Inc.(b)

     699       16,433  

Moderna, Inc.(b)

     7,269       1,009,010  

Monte Rosa Therapeutics, Inc.(b)(c)

     918       5,581  

Morphic Holding, Inc.(b)(c)

     727       30,912  

Myriad Genetics, Inc.(b)

     1,536       29,061  

Neurocrine Biosciences, Inc.(b)

     1,817       187,333  

Nkarta, Inc.(b)(c)

     925       3,885  

Novavax, Inc.(b)(c)

     1,488       13,779  

Nurix Therapeutics, Inc.(b)

     894       8,430  

Nuvalent, Inc., Class A(b)(c)

     965       29,230  

Omega Therapeutics, Inc.(b)

     911       5,885  

OmniAb, Inc.(b)(d)

     125       0  

OmniAb, Inc.(b)(d)

     125       0  

PepGen, Inc.(b)

     448       6,841  

PMV Pharmaceuticals, Inc.(b)(c)

     866       6,244  

Poseida Therapeutics, Inc.(b)(c)

     1,630       9,275  

Precigen, Inc.(b)

     4,703       5,926  

Prelude Therapeutics, Inc.(b)

     691       3,911  

Prometheus Biosciences, Inc.(b)(c)

     877       107,336  

Protagonist Therapeutics, Inc.(b)

     933       15,133  

Prothena Corp. PLC (Ireland)(b)

     910       50,742  

PTC Therapeutics, Inc.(b)(c)

     1,357       59,260  

RAPT Therapeutics, Inc.(b)

     644       18,966  

Recursion Pharmaceuticals, Inc., Class A(b)(c)

     3,429       27,946  

Regeneron Pharmaceuticals, Inc.(b)

     2,026       1,540,611  

REGENXBIO, Inc.(b)

     821       18,267  

Relay Therapeutics, Inc.(b)(c)

     2,273       36,709  

Repare Therapeutics, Inc. (Canada)(b)(c)

     796       8,159  

Replimune Group, Inc.(b)

     1,068       23,389  

REVOLUTION Medicines, Inc.(b)(c)

     1,680       44,957  
         Shares       Value  

Biotechnology-(continued)

     

Rhythm Pharmaceuticals, Inc.(b)(c)

     1,068     $ 25,963  

Rocket Pharmaceuticals, Inc.(b)(c)

     1,428       27,432  

Roivant Sciences Ltd.(b)

     13,717         110,971  

Sage Therapeutics, Inc.(b)(c)

     1,119       46,595  

Sana Biotechnology, Inc.(b)(c)

     3,616       13,271  

Sangamo Therapeutics, Inc.(b)(c)

     3,107       9,476  

Sarepta Therapeutics, Inc.(b)

     1,662            202,980  

Scholar Rock Holding Corp.(b)(c)

     979       8,400  

Seagen, Inc.(b)

     3,515       631,610  

Selecta Biosciences, Inc.(b)(c)

     2,901       4,729  

Seres Therapeutics, Inc.(b)

     2,362       11,928  

SpringWorks Therapeutics, Inc.(b)(c)

     1,177       37,546  

Stoke Therapeutics, Inc.(b)

     748       6,650  

Summit Therapeutics, Inc.(b)

     3,817       6,871  

Sutro Biopharma, Inc.(b)

     1,090       6,148  

Syndax Pharmaceuticals, Inc.(b)(c)

     1,278       32,397  

Tango Therapeutics, Inc.(b)(c)

     1,672       8,745  

Travere Therapeutics, Inc.(b)(c)

     1,217       26,969  

Twist Bioscience Corp.(b)(c)

     1,072       20,861  

Ultragenyx Pharmaceutical, Inc.(b)

     1,326       58,994  

uniQure N.V. (Netherlands)(b)

     888       18,612  

United Therapeutics Corp.(b)

     863       212,333  

UroGen Pharma Ltd.(b)

     438       4,511  

Vanda Pharmaceuticals, Inc.(b)

     1,073       6,910  

Vaxcyte, Inc.(b)

     1,488       60,963  

Veracyte, Inc.(b)(c)

     1,357       33,396  

Vertex Pharmaceuticals, Inc.(b)

     4,857       1,409,939  

Verve Therapeutics, Inc.(b)(c)

     1,168       22,192  

Vir Biotechnology, Inc.(b)(c)

     2,513       57,296  

Xencor, Inc.(b)(c)

     1,134       36,435  

Xenon Pharmaceuticals, Inc. (Canada)(b)(c)

     1,176       46,405  

Zai Lab Ltd., ADR (China)(b)

     1,303       48,406  

Zentalis Pharmaceuticals, Inc.(b)

     1,082       20,482  
    

 

 

  
       15,566,842  
    

 

 

  

Health Care Equipment & Supplies-0.82%

 

  

Cue Health, Inc.(b)

     2,833       6,091  

Novocure Ltd.(b)(c)

     1,984       152,709  
    

 

 

  
       158,800  
    

 

 

  

Health Care Providers & Services-0.47%

 

  

23andMe Holding Co., Class A(b)

     5,436       13,644  

Castle Biosciences, Inc.(b)(c)

     500       12,590  

Guardant Health, Inc.(b)

     1,933       59,710  

PetIQ, Inc.(b)(c)

     549       5,117  
    

 

 

  
       91,061  
    

 

 

  

Life Sciences Tools & Services-4.97%

 

  

AbCellera Biologics, Inc. (Canada)(b)

     5,386       45,242  

Absci Corp.(b)

     1,752       3,714  

Adaptive Biotechnologies Corp.(b)(c)

     2,711       23,179  

Codexis, Inc.(b)

     1,245       6,020  

Illumina, Inc.(b)

     2,978       593,218  

Maravai LifeSciences Holdings, Inc., Class A(b)

     2,491       36,742  

MaxCyte, Inc.(b)

     1,935       8,785  

Medpace Holdings, Inc.(b)(c)

     588       114,001  

NanoString Technologies, Inc.(b)

     884       8,628  

Nautilus Biotechnology, Inc.(b)

     2,365       5,014  

Pacific Biosciences of California, Inc.(b)(c)

     4,269       38,763  

 

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

 

    4    

 

  

 

 

 

Invesco Nasdaq Biotechnology ETF (IBBQ)–(continued)

February 28, 2023

(Unaudited)

    

 

         Shares       Value  

Life Sciences Tools & Services-(continued)

 

Quantum-Si, Inc.(b)

     2,273       $ 4,137  

Syneos Health, Inc.(b)

     1,943       78,147  
    

 

 

  
            965,590  
    

 

 

  

Pharmaceuticals-13.48%

     

Aclaris Therapeutics, Inc.(b)

     1,264       15,749  

Amphastar Pharmaceuticals, Inc.(b)

     916       29,184  

Amylyx Pharmaceuticals, Inc.(b)(c)

     1,248       43,455  

ANI Pharmaceuticals, Inc.(b)

     331       13,849  

Arvinas, Inc.(b)(c)

     1,009       30,926  

AstraZeneca PLC, ADR (United Kingdom)

      11,565       753,807  

ATAI Life Sciences N.V. (Germany)(b)

     3,145       5,284  

Atea Pharmaceuticals, Inc.(b)(c)

     1,579       5,590  

Avadel Pharmaceuticals PLC, ADR(b)(c)

     1,153       11,472  

Axsome Therapeutics, Inc.(b)(c)

     818       55,779  

Cara Therapeutics, Inc.(b)(c)

     1,019       10,353  

Collegium Pharmaceutical, Inc.(b)(c)

     636       16,873  

Cymabay Therapeutics, Inc.(b)(c)

     1,797       14,376  

DICE Therapeutics, Inc.(b)

     898       26,796  

Edgewise Therapeutics, Inc.(b)(c)

     1,198       11,477  

Esperion Therapeutics, Inc.(b)

     1,397       8,633  

Evolus, Inc.(b)

     1,066       9,669  

Fulcrum Therapeutics, Inc.(b)

     1,165       7,037  

Harmony Biosciences Holdings, Inc.(b)(c)

     1,119       49,270  

Harrow Health, Inc.(b)(c)

     520       9,318  

Hutchmed China Ltd., ADR (China)(b)

     701       11,602  

Innoviva, Inc.(b)(c)

     1,323       15,969  

Intra-Cellular Therapies, Inc.(b)

     1,789       87,715  

Jazz Pharmaceuticals PLC(b)

     1,190       167,076  

Ligand Pharmaceuticals, Inc.(b)

     320       23,085  

Marinus Pharmaceuticals, Inc.(b)(c)

     905       6,244  

Nektar Therapeutics(b)

     3,498       4,827  

NGM Biopharmaceuticals, Inc.(b)(c)

     1,549       7,342  

Ocular Therapeutix, Inc.(b)(c)

     1,460       8,818  

Omeros Corp.(b)(c)

     1,189       4,482  

Optinose, Inc.(b)

     2,082       3,748  

Pacira BioSciences, Inc.(b)

     869       36,993  

Phathom Pharmaceuticals, Inc.(b)(c)

     789       6,754  

Phibro Animal Health Corp., Class A

      386       6,064  
         Shares       Value  

Pharmaceuticals-(continued)

     

Pliant Therapeutics, Inc.(b)

     1,081       $ 34,441  

Provention Bio, Inc.(b)(c)

     1,653       13,720  

Reata Pharmaceuticals, Inc., Class A(b)(c)

     600       18,702  

Revance Therapeutics, Inc.(b)(c)

     1,548       53,716  

Royalty Pharma PLC, Class A

      8,352       299,419  

Sanofi, ADR

      5,470       256,269  

SIGA Technologies, Inc.(c)

     1,384       9,480  

Supernus Pharmaceuticals, Inc.(b)

     1,019       38,304  

Tarsus Pharmaceuticals, Inc.(b)

     506       7,838  

Terns Pharmaceuticals, Inc.(b)

     936       9,482  

Theravance Biopharma, Inc.(b)

     1,277       13,792  

Ventyx Biosciences, Inc.(b)(c)

     1,065       46,061  

Verona Pharma PLC, ADR (United Kingdom)(b)

     1,151       24,677  

Viatris, Inc.

      22,959       261,733  

WaVe Life Sciences Ltd.(b)(c)

     1,868       7,846  

Xeris Biopharma Holdings, Inc.(b)

     2,578       3,558  
    

 

 

  
       2,618,654  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.90%
(Cost $24,610,981)

 

     19,400,947  
    

 

 

  

Investments Purchased with Cash Collateral from Securities on Loan

 

 

Money Market Funds-17.55%

 

Invesco Private Government Fund,
4.58%(e)(f)(g)

     933,878       933,878  

Invesco Private Prime Fund, 4.83%(e)(f)(g)

     2,473,934       2,474,429  
    

 

 

  

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,408,437)

 

     3,408,307  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES-117.45%
(Cost $28,019,418)

 

     22,809,254  

OTHER ASSETS LESS LIABILITIES-(17.45)%

 

     (3,389,202 ) 
    

 

 

  

NET ASSETS-100.00%

      $ 19,420,052  
    

 

 

  

Investment Abbreviations:

ADR-American Depositary Receipt

 

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

 

    5    

 

  

 

 

 

Invesco Nasdaq Biotechnology ETF (IBBQ)–(continued)

February 28, 2023

(Unaudited)

    

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at February 28, 2023.

(d) 

Security valued using significant unobservable inputs (Level 3). See Note 4.

(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 February 28, 2023.

 

     Value
August 31,  2022		      Purchases
at Cost		      Proceeds
from Sales		     Change in
Unrealized
Appreciation
(Depreciation)		     

Realized

    Gain    

     

Value

February 28, 2023

      Dividend
Income		  
Investments in Affiliated Money Market Funds:                                           
Invesco Government & Agency Portfolio, Institutional Class                $ -         $ 62,619      $ (62,619 )                $ -                             $ -                              $ -                  $ 24  
Investments Purchased with Cash Collateral from Securities on Loan:                                           
Invesco Private Government Fund         749,198           4,338,193        (4,153,513 )         -             -              933,878           16,881 * 
Invesco Private Prime Fund         1,937,694           9,507,485        (8,970,697 )         (215 )            162              2,474,429           45,931 * 
     

 

 

        

 

 

     

 

 

       

 

 

          

 

 

           

 

 

        

 

 

  
Total       $ 2,686,892         $ 13,908,297      $ (13,186,829 )       $ (215 )          $ 162            $ 3,408,307         $ 62,836  
     

 

 

        

 

 

     

 

 

       

 

 

          

 

 

           

 

 

        

 

 

  

 

*

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 February 28, 2023.

(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.

Portfolio Composition

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

as of February 28, 2023

 

   

Biotechnology

    80.16

Pharmaceuticals

    13.48

Life Sciences Tools & Services

      4.97

Industry Types Each Less Than 3%

      1.29
Money Market Funds Plus Other Assets Less Liabilities      0.10

 

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

 

    6    

 

  

 

 

 

Invesco PHLX Semiconductor ETF (SOXQ)

February 28, 2023

(Unaudited)

    

Schedule of Investments(a)

 

     Shares   Value  

Common Stocks & Other Equity Interests-99.93%

 

Electronic Equipment, Instruments & Components-1.52%

 

Coherent Corp.(b)

     11,872     $ 512,039  

IPG Photonics Corp.(b)

     4,172       514,157  

Novanta, Inc.(b)

     3,062       480,459  
    

 

 

  
       1,506,655  
    

 

 

  

Life Sciences Tools & Services-0.29%

     

Azenta, Inc.(b)

     6,426       282,037  
    

 

 

  

Semiconductors & Semiconductor Equipment-98.12%

 

Advanced Micro Devices, Inc.(b)

     97,314       7,646,934  

Analog Devices, Inc.

      22,033       4,042,395  

Applied Materials, Inc.

      34,562       4,014,376  

ASML Holding N.V., New York Shares (Netherlands)

      6,228       3,847,222  

Broadcom, Inc.

      13,748       8,170,299  

Entegris, Inc.

      12,777       1,088,984  

GLOBALFOUNDRIES, Inc.(b)(c)

     46,729       3,053,273  

Intel Corp.

         125,954         3,140,033  

KLA Corp.

      9,633       3,654,568  

Lam Research Corp.

      8,018       3,896,828  

Lattice Semiconductor Corp.(b)

     11,745       997,855  

Marvell Technology, Inc.

      73,076       3,299,381  

Microchip Technology, Inc.

      47,152       3,820,727  

Micron Technology, Inc.

      65,698       3,798,658  

Monolithic Power Systems, Inc.

      4,023       1,948,299  

NVIDIA Corp.

      44,763         10,392,178  

NXP Semiconductors N.V. (China)

      21,542       3,844,816  

ON Semiconductor Corp.(b)

     37,063       2,869,047  

Qorvo, Inc.(b)

     8,686       876,331  

QUALCOMM, Inc.

      59,889       7,398,088  
     Shares   Value  

Semiconductors & Semiconductor Equipment-(continued)

 

Skyworks Solutions, Inc.

      13,725       $ 1,531,298  

Synaptics, Inc.(b)

     3,415       401,638  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR (Taiwan)

      45,647       3,974,484  

Teradyne, Inc.

      13,349       1,350,118  

Texas Instruments, Inc.

      41,975       7,196,614  

Wolfspeed, Inc.(b)(c)

     10,647       787,665  
    

 

 

  
       97,042,109  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.93%
(Cost $100,137,492)

        98,830,801  
    

 

 

  

Investments Purchased with Cash Collateral from Securities on Loan

 

 

Money Market Funds-3.21%

 

Invesco Private Government Fund,
4.58%(d)(e)(f)

     888,523       888,523  

Invesco Private Prime Fund, 4.83%(d)(e)(f)

     2,284,316       2,284,773  
    

 

 

  

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,173,376)

 

     3,173,296  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES-103.14%
(Cost $103,310,868)

 

     102,004,097  

OTHER ASSETS LESS LIABILITIES-(3.14)%

 

     (3,107,058 ) 
    

 

 

  

NET ASSETS-100.00%

 

   $ 98,897,039  
    

 

 

  

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 February 28, 2023.

(d) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended February 28, 2023.

 

     Value
August 31,  2022		      Purchases
at Cost		      Proceeds
from  Sales		     Change in
Unrealized
Appreciation
(Depreciation)		      Realized
Gain		      Value
February 28,  2023		      Dividend
Income		  
Investments in Affiliated Money Market Funds:                                            
Invesco Government & Agency Portfolio, Institutional Class                      $ -                  $ 764,991      $ (764,991 )                $   -                              $   -                            $         -                $ 472  

 

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

 

    7    

 

  

 

 

 

Invesco PHLX Semiconductor ETF (SOXQ)–(continued)

February 28, 2023

(Unaudited)

    

 

     Value
August 31, 2022		    Purchases
at Cost		    Proceeds
from Sales		   Change in
Unrealized
Appreciation
(Depreciation)		    Realized
Gain		   

Value

February 28, 2023

    Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                                                                         
Invesco Private Government Fund                        $ -                  $ 7,849,763      $ (6,961,240 )                 $ -                      $ -                              $ 888,523                  $ 8,546 *
Invesco Private Prime Fund             -             17,202,433        (14,917,608 )            (80 )                 28                  2,284,773             24,589 *
         

 

 

            

 

 

       

 

 

           

 

 

                

 

 

                 

 

 

            

 

 

  
Total           $ -           $ 25,817,187      $ (22,643,839 )          $ (80 )               $ 28                $ 3,173,296           $ 33,607
         

 

 

            

 

 

       

 

 

           

 

 

                

 

 

                 

 

 

            

 

 

  

 

*

Represents the income earned on the investment of cash collateral, which is included in securities lending income on the Statements of Operations. Does not include rebates and fees paid to lending agent or premiums received from borrowers, if any.

 

(e) 

The rate shown is the 7-day SEC standardized yield as of February 28, 2023.

(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 February 28, 2023

 

   
Semiconductors & Semiconductor
Equipment		    98.12
Industry Types Each Less Than 3%      1.81
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.

 

    8    

 

  

 

 

 

Invesco Solar ETF (TAN)

February 28, 2023

(Unaudited)

Schedule of Investments(a)

 

     Shares   Value  

Common Stocks & Other Equity Interests-99.84%

 

Building Products-0.64%

     

Triumph New Energy Co. Ltd., H Shares (China)(b)(c)(d)

     13,542,458     $ 14,871,774  
    

 

 

  

Chemicals-2.57%

     

Hanwha Solutions Corp. (South Korea)(c)

     1,901,899       59,791,421  
    

 

 

  

Construction & Engineering-1.45%

     

Emeren Group Ltd., ADR (China)(c)(d)

     2,701,793       12,239,122  

Xinte Energy Co. Ltd., H Shares
(China)(d)

     9,720,354       21,423,291  
    

 

 

  
       33,662,413  
    

 

 

  

Electrical Equipment-13.35%

     

Array Technologies, Inc.(c)(d)

     3,772,117       70,689,473  

Shoals Technologies Group, Inc., Class A(c)(d)

     2,913,413       71,495,155  

Soltec Power Holdings S.A. (Spain)(c)(d)

     1,999,244       12,318,358  

SunPower Corp.(c)(d)

     2,729,949       41,003,834  

Sunrun, Inc.(c)(d)

     4,799,387       115,377,263  
    

 

 

  
       310,884,083  
    

 

 

  

Independent Power and Renewable Electricity Producers-20.45%

 

Altus Power, Inc.(c)(d)

     2,059,922       13,945,672  

Atlantica Sustainable Infrastructure PLC (Spain)(d)

     2,036,677       56,212,285  

Doral Group Renewable Energy Resources Ltd. (Israel)(c)(d)

     4,068,364       7,740,249  

Encavis AG (Germany)

      3,551,553       69,848,328  

Energix-Renewable Energies Ltd. (Israel)

      6,131,994       16,870,118  

Enlight Renewable Energy Ltd.
(Israel)(c)(d)

     1,833,587       30,000,953  

GCL New Energy Holdings Ltd.
(China)(c)(d)

     62,130,336       8,152,653  

Grenergy Renovables S.A. (Spain)(c)(d)

     700,533       21,648,560  

Neoen S.A. (France)(d)(e)

     933,413       33,814,470  

OY Nofar Energy Ltd. (Israel)(c)

     747,941       18,017,741  

ReNew Energy Global PLC, Class A (India)(c)(d)

     2,451,653       10,640,174  

RENOVA, Inc. (Japan)(c)(d)

     1,038,968       16,017,566  

Scatec ASA (South Africa)(e)

     2,787,954       18,959,020  

Solaria Energia y Medio Ambiente S.A. (Spain)(c)

     2,716,490       50,126,598  

Sunnova Energy International, Inc.(c)(d)

     3,132,149       55,689,609  

West Holdings Corp. (Japan)(d)

     905,756       22,308,933  

Xinyi Energy Holdings Ltd. (China)(d)

       81,297,784         26,099,805  
    

 

 

  
          476,092,734  
    

 

 

  

Mortgage REITs-1.95%

     

Hannon Armstrong Sustainable Infrastructure Capital, Inc.(d)

     1,448,780       45,506,180  
    

 

 

  

Semiconductors & Semiconductor Equipment-59.43%

 

Canadian Solar, Inc. (Canada)(c)(d)

     1,633,022       64,912,624  

Daqo New Energy Corp., ADR (China)(c)

     1,633,177       72,153,760  
     Shares   Value  

Semiconductors & Semiconductor Equipment-(continued)

 

Enphase Energy, Inc.(c)

     770,546     $ 162,223,049  

First Solar, Inc.

      1,631,089       275,882,393  

Flat Glass Group Co. Ltd., H Shares (China)(d)

     14,803,221       39,132,026  

GCL Technology Holdings Ltd.
(China)(c)(d)

     473,448,222         121,837,749  

Gigasolar Materials Corp. (Taiwan)(c)

     2,274,000       8,060,257  

Hyundai Energy Solutions Co. Ltd. (South Korea)

      330,083       12,198,042  

JinkoSolar Holding Co. Ltd., ADR
(China)(c)(d)

     1,179,355       62,505,815  

Maxeon Solar Technologies Ltd.(c)(d)

      1,084,273       19,083,205  

Meyer Burger Technology AG (Switzerland)(c)(d)

     92,244,021       68,647,858  

Motech Industries, Inc. (Taiwan)

      15,736,000       14,641,382  

SMA Solar Technology AG
(Germany)(c)(d)

     561,335       43,992,378  

SolarEdge Technologies, Inc.(c)

     775,502       246,547,596  

TSEC Corp. (Taiwan)(c)

     19,078,000       23,229,584  

United Renewable Energy Co. Ltd. (Taiwan)(c)

     50,400,458       34,323,159  

Xinyi Solar Holdings Ltd. (China)

      107,338,951       114,593,338  
    

 

 

  
       1,383,964,215  
    

 

 

  

Total Common Stocks & Other Equity Interests
(Cost $2,714,387,671)

 

     2,324,772,820  
    

 

 

  

Money Market Funds-0.03%

 

Invesco Government & Agency Portfolio, Institutional Class, 4.51%(b)(f)
(Cost $761,253)

      761,253       761,253  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.87%
(Cost $2,715,148,924)

 

     2,325,534,073  
    

 

 

  
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-16.25%

 

Invesco Private Government Fund,
4.58%(b)(f)(g)

     105,885,675       105,885,675  

Invesco Private Prime Fund, 4.83%(b)(f)(g)

      272,333,979       272,388,437  
    

 

 

  

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $378,287,845)

 

     378,274,112  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES-116.12%
(Cost $3,093,436,769)

 

     2,703,808,185  

OTHER ASSETS LESS LIABILITIES-(16.12)%

 

     (375,298,231 ) 
    

 

 

  

NET ASSETS-100.00%

 

   $ 2,328,509,954  
    

 

 

  

Investment Abbreviations:

ADR-American Depositary Receipt

 

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

 

    9    

 

  

 

 

 

Invesco Solar ETF (TAN)–(continued)

February 28, 2023

(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) 

Affiliated issuer. The issuer is affiliated by having an investment adviser that is under common control of Invesco Ltd. and/or is an “affiliated person” under the Investment Company Act of 1940, as amended (the “1940 Act”), which defines “affiliated person” to include an issuer of which a fund holds 5% or more of the outstanding voting securities. For the Investments in Other Affiliates below, 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 February 28, 2023.

 

     Value
August 31,  2022		      Purchases
at Cost		      Proceeds
from Sales		    

Change in

Unrealized

Appreciation

(Depreciation)

      Realized
Gain
(Loss)		    

Value

February 28, 2023

      Dividend
Income		  
Investments in Affiliated Money Market Funds:                                    
Invesco Government & Agency Portfolio, Institutional Class       $ -         $ 49,563,995      $ (48,802,742 )       $ -        $ -        $ 761,253         $ 63,161  
Investments Purchased with Cash Collateral from Securities on Loan:                                    
Invesco Private Government Fund         190,757,568           248,426,821        (333,298,714 )         -                   -          105,885,675                    2,019,243 * 
Invesco Private Prime Fund         493,969,145           599,222,845        (820,812,332 )         (54,127 )         62,906          272,388,437           5,470,708 * 
Investments in Other Affiliates:                                    
Motech Industries, Inc.**         18,434,760           8,449,887        (11,965,853 )         3,549,852          (3,827,264 )         14,641,382           -  
Triumph New Energy Co. Ltd., H Shares***         20,436,951           6,050,561        (6,237,810 )         (3,667,800 )         (1,710,128 )         14,871,774           -  
TSEC Corp.**,****         28,352,920           7,202,846        (10,168,703 )         404,795          (2,562,274 )         23,229,584           -  
     

 

 

        

 

 

     

 

 

       

 

 

       

 

 

       

 

 

        

 

 

  
Total       $ 751,951,344         $ 918,916,955      $ (1,231,286,154 )       $ 232,720        $ (8,036,760 )       $ 431,778,105         $ 7,553,112  
     

 

 

        

 

 

     

 

 

       

 

 

       

 

 

       

 

 

        

 

 

  

 

*

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 February 28, 2023, this security was not considered as an affiliate of the Fund.

***

Formerly known as Luoyang Glass Co. Ltd., H Shares.

****

As of August 31, 2022, this security was not considered as an affiliate of the Fund.

 

(c) 

Non-income producing security.

(d) 

All or a portion of this security was out on loan at February 28, 2023.

(e) 

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 February 28, 2023 was $52,773,490, which represented 2.27% of the Fund’s Net Assets.

(f) 

The rate shown is the 7-day SEC standardized yield as of February 28, 2023.

(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

      21.17 % 

 

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

 

    10    

 

  

 

 

 

Invesco Solar ETF (TAN)–(continued)

February 28, 2023

(Unaudited)

    

 

Portfolio Composition

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

as of February 28, 2023

 

   
Semiconductors & Semiconductor Equipment    59.43
Independent Power and Renewable Electricity Producers    20.45
Electrical Equipment    13.35
Industry Types Each Less Than 3%      6.61
Money Market Funds Plus Other Assets Less Liabilities      0.16

 

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

 

    11    

 

  

 

 

 

Statements of Assets and Liabilities

February 28, 2023

(Unaudited)

    

 

    

Invesco Nasdaq

Biotechnology

    ETF (IBBQ)    

     

Invesco PHLX
Semiconductor

    ETF (SOXQ)    

         

Invesco Solar
    ETF (TAN)    

  

Assets:

                      

Unaffiliated investments in securities, at value(a)

                 $ 19,400,947                             $ 98,830,801             $ 2,309,901,046  

Affiliated investments in securities, at value

         3,408,307             3,173,296             393,907,139  

Foreign currencies, at value

         -             -             4,141,301  

Receivable for:

                      

Dividends

         27,035             112,883             136,651  

Securities lending

         1,080             7,316             106,431  

Investments sold

         24,114             -             415,742  

Fund shares sold

         -             -             90,350  

Foreign tax reclaims

         -             -             172,190  

Other assets

         -             -             12,051  
     

 

 

          

 

 

          

 

 

  

Total assets

         22,861,483             102,124,296             2,708,882,901  
     

 

 

          

 

 

          

 

 

  

Liabilities:

                      

Due to custodian

         30,056             39,136             1,107  

Payable for:

                      

Investments purchased

         -             -             200  

Collateral upon return of securities loaned

         3,408,437             3,173,376             378,287,845  

Accrued unitary management fees

         2,938             14,745             -  

Accrued advisory fees

         -             -             941,566  

Accrued trustees’ and officer’s fees

         -             -             20,292  

Accrued expenses

         -             -             1,114,048  

Accrued tax expenses

         -             -             7,889  
     

 

 

          

 

 

          

 

 

  

Total liabilities

         3,441,431             3,227,257             380,372,947  
     

 

 

          

 

 

          

 

 

  

Net Assets

       $ 19,420,052           $ 98,897,039           $ 2,328,509,954  
     

 

 

          

 

 

          

 

 

  

Net assets consist of:

                      

Shares of beneficial interest

       $ 26,135,286           $ 104,753,696           $ 3,431,785,774  

Distributable earnings (loss)

         (6,715,234 )            (5,856,657 )            (1,103,275,820 ) 
     

 

 

          

 

 

          

 

 

  

Net Assets

       $ 19,420,052           $ 98,897,039           $ 2,328,509,954  
     

 

 

          

 

 

          

 

 

  

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

         950,001             4,240,001             31,288,000  

Net asset value

       $ 20.44           $ 23.32           $ 74.42  
     

 

 

          

 

 

          

 

 

  

Market price

       $ 20.47           $ 23.34           $ 74.29  
     

 

 

          

 

 

          

 

 

  

Unaffiliated investments in securities, at cost

       $ 24,610,981           $ 100,137,492           $ 2,697,931,415  
     

 

 

          

 

 

          

 

 

  

Affiliated investments in securities, at cost

       $ 3,408,437           $ 3,173,376           $ 395,505,354  
     

 

 

          

 

 

          

 

 

  

Foreign currencies, at cost

       $ -           $ -           $ 3,932,311  
     

 

 

          

 

 

          

 

 

  

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

       $ 3,350,778           $ 3,133,664           $ 370,911,757  
     

 

 

          

 

 

          

 

 

  

 

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

 

    12    

 

  

 

 

 

Statements of Operations

For the six months ended February 28, 2023

(Unaudited)

    

 

    

Invesco Nasdaq

Biotechnology

    ETF (IBBQ)    

     

Invesco PHLX

Semiconductor

    ETF (SOXQ)    

           

Invesco Solar

    ETF (TAN)    

 

Investment income:

                      

Unaffiliated dividend income

       $ 76,101           $ 559,195           $ 2,933,224  

Affiliated dividend income

                  24                             472             63,161  

Non-cash dividend income

         -             -             1,252,206  

Securities lending income, net

         6,757             27,414             1,214,459  

Foreign withholding tax

         -             (13,454 )            (104,716 ) 
     

 

 

          

 

 

          

 

 

  

Total investment income

         82,882             573,627             5,358,334  
     

 

 

          

 

 

          

 

 

  

Expenses:

                      

Unitary management fees

         19,061             71,871             -  

Advisory fees

         -             -             6,386,150  

Sub-licensing fees

         -             -             1,788,118  

Accounting & administration fees

         -             -             86,901  

Custodian & transfer agent fees

         -             -             165,619  

Trustees’ and officer’s fees

         -             -             16,340  

Other expenses

         -             -             131,315  
     

 

 

          

 

 

          

 

 

  

Total expenses

         19,061             71,871             8,574,443  
     

 

 

          

 

 

          

 

 

  

Less: Waivers

         (1 )            (12 )            (1,508 ) 
     

 

 

          

 

 

          

 

 

  

Net expenses

         19,060             71,859             8,572,935  
     

 

 

          

 

 

          

 

 

  

Net investment income (loss)

         63,822             501,768             (3,214,601 ) 
     

 

 

          

 

 

          

 

 

  

Realized and unrealized gain (loss) from:

                      

Net realized gain (loss) from:

                      

Unaffiliated investment securities

         (900,119 )            (3,748,021 )            (120,067,201 ) 

Affiliated investment securities

         162             28             (8,249,809 ) 

Unaffiliated in-kind redemptions

         186,816             952,137             50,113,890  

Affiliated in-kind redemptions

         -             -             213,049  

Foreign currencies

         -             -             192,231  
     

 

 

          

 

 

          

 

 

  

Net realized gain (loss)

         (713,141 )            (2,795,856 )            (77,797,840 ) 
     

 

 

          

 

 

          

 

 

  

Change in net unrealized appreciation (depreciation) of:

                      

Unaffiliated investment securities

         1,793,012             13,887,952             (307,415,566 ) 

Affiliated investment securities

         (215 )            (80 )            (52,513 ) 

Foreign currencies

         -             -             207,536  
     

 

 

          

 

 

          

 

 

  

Change in net unrealized appreciation (depreciation)

         1,792,797             13,887,872             (307,260,543 ) 
     

 

 

          

 

 

          

 

 

  

Net realized and unrealized gain (loss)

         1,079,656             11,092,016             (385,058,383 ) 
     

 

 

          

 

 

          

 

 

  

Net increase (decrease) in net assets resulting from operations

       $ 1,143,478           $ 11,593,784           $ (388,272,984 ) 
     

 

 

          

 

 

          

 

 

  

 

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

 

    13    

 

  

 

 

 

Statements of Changes in Net Assets

For the six months ended February 28, 2023 and the year ended August 31, 2022

(Unaudited)

    

 

     Invesco Nasdaq
Biotechnology ETF (IBBQ)		      Invesco PHLX
Semiconductor ETF (SOXQ)		      Invesco Solar
ETF (TAN)		  
     Six Months Ended
February 28,
2023		      Year Ended
August 31,
      2022       		      Six Months Ended
February 28,
2023		      Year Ended
August 31,
      2022       		      Six Months Ended
February 28,
2023		      Year Ended
August 31,
2022		  

Operations:

                                              

Net investment income (loss)

       $ 63,822           $ 226,454           $ 501,768           $ 712,963           $ (3,214,601 )          $ (6,607,150 ) 

Net realized gain (loss)

         (713,141 )            (918,325 )            (2,795,856 )            5,375,577             (77,797,840 )            62,159,308  

Change in net unrealized appreciation (depreciation)

                1,792,797                           (9,312,583 )                          13,887,872                           (18,852,741 )                          (307,260,543 )            (273,869,705 ) 
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Net increase (decrease) in net assets resulting from operations

         1,143,478             (10,004,454 )            11,593,784             (12,764,201 )            (388,272,984 )            (218,317,547 ) 
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Distributions to Shareholders from:

 

Distributable earnings

         (79,360 )            (290,468 )            (455,923 )            (728,394 )            -             -  
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Shareholder Transactions:

 

Proceeds from shares sold

         -             35,536,414             33,784,478             62,816,295             383,545,437             1,842,850,588  

Value of shares repurchased

         (1,997,776 )            (56,556,737 )            (6,410,952 )            (52,100,885 )            (642,244,999 )            (1,867,798,055 ) 
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Net increase (decrease) in net assets resulting from share transactions

         (1,997,776 )            (21,020,323 )            27,373,526             10,715,410             (258,699,562 )            (24,947,467 ) 
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Net increase (decrease) in net assets

         (933,658 )            (31,315,245 )            38,511,387             (2,777,185 )            (646,972,546 )            (243,265,014 ) 
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Net assets:

                                              

Beginning of period

         20,353,710             51,668,955             60,385,652             63,162,837             2,975,482,500             3,218,747,514  
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

End of period

       $ 19,420,052           $ 20,353,710           $ 98,897,039           $ 60,385,652           $ 2,328,509,954           $ 2,975,482,500  
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Changes in Shares Outstanding:

 

Shares sold

         -             1,610,000             1,700,000             2,380,000             4,720,000             22,400,000  

Shares repurchased

         (100,000 )            (2,480,000 )            (320,000 )            (1,860,000 )            (8,720,000 )            (24,480,000 ) 

Shares outstanding, beginning of period

         1,050,001             1,920,001             2,860,001             2,340,001             35,288,000             37,368,000  
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

Shares outstanding, end of period

         950,001             1,050,001             4,240,001             2,860,001             31,288,000             35,288,000  
     

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

  

 

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

 

    14    

 

  

 

 

 

Financial Highlights

Invesco Nasdaq Biotechnology ETF (IBBQ)

 

    

Six Months Ended

February 28,

2023

      (Unaudited)       

     

Year Ended August 31,

                  2022                 

     

For the Period

June 9, 2021(a)

Through

August 31,

          2021           

  

Per Share Operating Performance:

                        

Net asset value at beginning of period

                        $ 19.38                            $ 26.91                                         $ 25.34    
     

 

 

          

 

 

          

 

 

    

Net investment income(b)

        0.07             0.17             0.04    

Net realized and unrealized gain (loss) on investments

         1.07             (7.47 )            1.53    
     

 

 

          

 

 

          

 

 

    

Total from investment operations

         1.14             (7.30 )            1.57    
     

 

 

          

 

 

          

 

 

    

Distributions to shareholders from:

                        

Net investment income

         (0.08 )            (0.23 )            -    
     

 

 

          

 

 

          

 

 

    

Net asset value at end of period

       $ 20.44           $ 19.38           $ 26.91    
     

 

 

          

 

 

          

 

 

    

Market price at end of period(c)

      $ 20.47           $ 19.40           $ 26.87    
     

 

 

          

 

 

          

 

 

    

Net Asset Value Total Return(d)

        5.89 %            (27.24 )%            6.19 %(e)   

Market Price Total Return(d)

        5.93 %            (27.06 )%            6.04 %(e)   

Ratios/Supplemental Data:

                        

Net assets at end of period (000’s omitted)

       $ 19,420           $ 20,354           $ 51,669    

Ratio to average net assets of:

                        

Expenses, after Waivers

         0.19 %(f)            0.11 %            - %(f)    

Expenses, prior to Waivers

         0.19 %(f)            0.19 %            0.19 %(f)   

Net investment income

         0.64 %(f)            0.76 %            0.65 %(f)   

Portfolio turnover rate(g)

        7 %            22 %            8 %   

 

(a) 

Commencement of investment operations.

(b) 

Based on average shares outstanding.

(c) 

The mean between the last bid and ask prices.

(d) 

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.

(e) 

The net asset value total return from Fund Inception (June 11, 2021, the first day of trading on the exchange) to August 31, 2021 was 5.16%. The market price total return from Fund Inception to August 31, 2021 was 5.00%.

(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.

 

    15    

 

  

 

 

 

Financial Highlights–(continued)

Invesco PHLX Semiconductor ETF (SOXQ)

 

    

Six Months Ended

February 28,

2023

      (Unaudited)       

   

Year Ended August 31,

                 2022                

         For the Period
June 9,  2021(a)
Through
August 31,
         2021        

Per Share Operating Performance:

                                               

Net asset value at beginning of period

                          $ 21.11                              $ 26.99                               $ 24.88    
         

 

 

                

 

 

                     

 

 

      

Net investment income(b)

            0.14                 0.31                      0.06    

Net realized and unrealized gain (loss) on investments

             2.21                 (5.83 )                      2.05    
         

 

 

                

 

 

                     

 

 

      

Total from investment operations

             2.35                 (5.52 )                      2.11    
         

 

 

                

 

 

                     

 

 

      

Distributions to shareholders from:

                                               

Net investment income

             (0.14 )                 (0.36 )                      -    
         

 

 

                

 

 

                     

 

 

      

Net asset value at end of period

           $ 23.32               $ 21.11                    $ 26.99    
         

 

 

                

 

 

                     

 

 

      

Market price at end of period(c)

          $ 23.34               $ 21.15                    $ 27.06    
         

 

 

                

 

 

                     

 

 

      

Net Asset Value Total Return(d)

            11.21 %                 (20.70 )%                      8.48 %(e)    

Market Price Total Return(d)

            11.09 %                 (20.76 )%                      8.76 %(e)    

Ratios/Supplemental Data:

                                               

Net assets at end of period (000’s omitted)

           $ 98,897               $ 60,386                    $ 63,163    

Ratio to average net assets of:

                                               

Expenses, after Waivers

             0.19 %(f)                 0.13 %                      - %(f)    

Expenses, prior to Waivers

             0.19 %(f)                 0.19 %                      0.19 %(f)    

Net investment income

             1.33 %(f)                 1.22 %                      1.09 %(f)    

Portfolio turnover rate(g)

            11 %                 19 %                      4 %    

 

(a) 

Commencement of investment operations.

(b) 

Based on average shares outstanding.

(c) 

The mean between the last bid and ask prices.

(d) 

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.

(e) 

The net asset value total return from Fund Inception (June 11, 2021, the first day of trading on the exchange) to August 31, 2021 was 6.72%. The market price total return from Fund Inception to August 31, 2021 was 7.08%.

(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.

 

    16    

 

  

 

 

 

Financial Highlights–(continued)

Invesco Solar ETF (TAN)

 

     Six Months Ended                                 
     February 28,                                 
     2023      Years Ended August 31,  
    

      (Unaudited)       

      2022     2021     2020     2019     2018  

Per Share Operating Performance:

                   

Net asset value at beginning of period

                  $ 84.32        $ 86.14     $ 56.75     $ 30.63     $ 21.92     $ 21.62