LOGO

   
  Invesco Semi-Annual Report to Shareholders
  October 31, 2021
  PBE   Invesco Dynamic Biotechnology & Genome ETF
  PKB   Invesco Dynamic Building & Construction ETF
  PXE   Invesco Dynamic Energy Exploration & Production ETF
  PBJ   Invesco Dynamic Food & Beverage ETF
  PEJ   Invesco Dynamic Leisure and Entertainment ETF
  PBS   Invesco Dynamic Media ETF
  PXQ      Invesco Dynamic Networking ETF
  PXJ   Invesco Dynamic Oil & Gas Services ETF
  PJP   Invesco Dynamic Pharmaceuticals ETF
  PSI   Invesco Dynamic Semiconductors ETF
  PSJ   Invesco Dynamic Software ETF


 

Table of Contents

 

 

Schedules of Investments

  

Invesco Dynamic Biotechnology & Genome ETF (PBE)

     3  

Invesco Dynamic Building & Construction ETF (PKB)

     5  

Invesco Dynamic Energy Exploration  & Production ETF (PXE)

     7  

Invesco Dynamic Food & Beverage ETF (PBJ)

     9  

Invesco Dynamic Leisure and Entertainment ETF (PEJ)

     11  

Invesco Dynamic Media ETF (PBS)

     13  

Invesco Dynamic Networking ETF (PXQ)

     15  

Invesco Dynamic Oil & Gas Services ETF (PXJ)

     17  

Invesco Dynamic Pharmaceuticals ETF (PJP)

     19  

Invesco Dynamic Semiconductors ETF (PSI)

     21  

Invesco Dynamic Software ETF (PSJ)

     23  

Statements of Assets and Liabilities

     26  

Statements of Operations

     28  

Statements of Changes in Net Assets

     30  

Financial Highlights

     34  

Notes to Financial Statements

     45  

Fund Expenses

     55  

 

   

 

  2   

   
 


 

Invesco Dynamic Biotechnology & Genome ETF (PBE)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares          Value  

Common Stocks & Other Equity Interests-100.04%

 

Biotechnology-70.99%

     

Alkermes PLC(b)(c)

     269,221      $ 8,154,704  

Amgen, Inc.

     66,810        13,827,666  

Arrowhead Pharmaceuticals, Inc.(b)

     129,910        8,290,856  

Avid Bioservices, Inc.(b)(c)

     339,269        10,408,773  

Biogen, Inc.(b)

     42,905        11,441,906  

Blueprint Medicines Corp.(b)(c)

     86,231        9,700,125  

CareDx, Inc.(b)

     104,765        5,343,015  

Celldex Therapeutics, Inc.(b)(c)

     166,594        7,086,909  

Dicerna Pharmaceuticals, Inc.(b)(c)

     396,328        8,247,586  

Dynavax Technologies Corp.(b)(c)

     540,416        10,792,108  

Emergent BioSolutions, Inc.(b)(c)

     130,260        6,209,494  

Exelixis, Inc.(b)

     431,924        9,290,685  

Gilead Sciences, Inc.

     207,476        13,461,043  

Halozyme Therapeutics, Inc.(b)

     202,136        7,695,318  

Incyte Corp.(b)

     198,446        13,291,913  

Ironwood Pharmaceuticals, Inc.(b)(c)

     617,073        7,880,022  

Myriad Genetics, Inc.(b)(c)

     233,007        7,169,625  

Neurocrine Biosciences, Inc.(b)

     88,201        9,297,268  

OPKO Health, Inc.(b)(c)

     2,163,067        8,198,024  

Prothena Corp. PLC (Ireland)(b)(c)

     127,795        7,073,453  

United Therapeutics Corp.(b)

     39,778        7,588,051  

Vericel Corp.(b)(c)

     155,115        7,138,392  

Xencor, Inc.(b)(c)

     255,263        10,098,204  
     

 

 

 
        207,685,140  
     

 

 

 

Health Care Equipment-2.71%

     

Cardiovascular Systems, Inc.(b)

     225,928        7,925,554  
     

 

 

 

Health Care Services-2.48%

     

Fulgent Genetics, Inc.(b)(c)

     87,411        7,248,120  
     

 

 

 

Life Sciences Tools & Services-18.27%

 

Bio-Techne Corp.

     30,439        15,939,382  

Illumina, Inc.(b)

     31,253        12,971,870  

QIAGEN N.V.(b)

     151,049        8,422,492  

Repligen Corp.(b)

     55,449        16,107,935  
     

 

 

 
        53,441,679  
     

 

 

 
           Shares            Value  

Pharmaceuticals-5.59%

     

Catalent, Inc.(b)

     118,734      $ 16,368,669  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $271,062,513)

 

     292,669,162  
     

 

 

 

Money Market Funds-0.04%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $115,549)

     115,549        115,549  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.08%
(Cost $271,178,062)

 

     292,784,711  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-18.54%      

Invesco Private Government Fund,
0.02%(d)(e)(f)

     16,274,460        16,274,460  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     37,958,557        37,973,741  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $54,248,201)

 

     54,248,201  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-118.62%
(Cost $325,426,263)

 

     347,032,912  

OTHER ASSETS LESS LIABILITIES-(18.62)%

 

     (54,483,625
     

 

 

 

NET ASSETS-100.00%

 

   $ 292,549,287  
     

 

 

 

 

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

   $ 97,394        $   6,842,292        $   (6,824,137        $-          $-          $    115,549        $ 26  

 

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

   
   

 

  3   

   
 


 

Invesco Dynamic Biotechnology & Genome ETF (PBE)—(continued)

October 31, 2021

(Unaudited)

 

    

Value

April 30, 2021

 

    

   Purchases
at Cost
          Proceeds
from Sales
 

    

  

Change in

Unrealized

Appreciation

 

    

   Realized
    Gain    
 

    

  

Value

October 31, 2021

 

    

  

Dividend

Income

Investments Purchased with Cash Collateral from Securities on Loan:

                                                          

Invesco Private Government Fund

     $ 17,075,160          $ 61,522,494          $ (62,323,194 )            $-              $-            $ 16,274,460          $ 1,160 *

Invesco Private Prime Fund

       25,612,740            127,611,539            (115,250,538 )            -              -              37,973,741            16,393 *
    

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

Total

     $ 42,785,294          $ 195,976,325          $ (184,397,869 )            $-              $-            $ 54,363,750          $ 17,579
    

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

 

*

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

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

as of October 31, 2021

 

 
     

Biotechnology

    70.99                                 

Life Sciences Tools & Services

    18.27    

Pharmaceuticals

    5.59    

Sub-Industry Types Each Less Than 3%

    5.19    

Money Market Funds Plus Other Assets Less Liabilities

    (0.04  

    

 

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

   
   

 

  4   

   
 


 

Invesco Dynamic Building & Construction ETF (PKB)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares          Value  

Common Stocks & Other Equity Interests-100.04%

 

Building Products-30.53%

     

A.O. Smith Corp.

     106,589      $ 7,788,458  

Allegion PLC

     54,512        6,993,889  

Armstrong World Industries, Inc.

     72,060        7,613,139  

Carlisle Cos., Inc.

     36,965        8,240,238  

Carrier Global Corp.

     247,895        12,947,556  

Cornerstone Building Brands, Inc.(b)

     473,086        6,769,861  

Johnson Controls International PLC

     188,062        13,798,109  

Owens Corning

     80,612        7,529,967  

Trane Technologies PLC

     71,384        12,915,507  
     

 

 

 
        84,596,724  
     

 

 

 

Construction & Engineering-8.13%

     

EMCOR Group, Inc.

     63,320        7,692,747  

Granite Construction, Inc.

     191,607        7,112,452  

MYR Group, Inc.(b)

     75,641        7,726,728  
     

 

 

 
        22,531,927  
     

 

 

 

Construction Machinery & Heavy Trucks-2.42%

 

Terex Corp.

     149,536        6,699,213  
     

 

 

 

Construction Materials-18.83%

     

Eagle Materials, Inc.

     49,755        7,381,652  

Forterra, Inc.(b)

     329,227        7,842,187  

Martin Marietta Materials, Inc.

     36,998        14,534,294  

Summit Materials, Inc., Class A(b)(c)

     227,061        8,094,725  

Vulcan Materials Co.

     75,300        14,316,036  
     

 

 

 
        52,168,894  
     

 

 

 

Forest Products-2.70%

     

Louisiana-Pacific Corp.

     126,753        7,469,554  
     

 

 

 

Gas Utilities-2.76%

     

Southwest Gas Holdings, Inc.

     110,581        7,657,734  
     

 

 

 

Home Furnishings-4.41%

     

Mohawk Industries, Inc.(b)

     69,017        12,230,503  
     

 

 

 

Home Improvement Retail-8.96%

     

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

     64,463        8,761,811  

Home Depot, Inc. (The)

     43,194        16,056,937  
     

 

 

 
        24,818,748  
     

 

 

 

Homebuilding-15.29%

     

Cavco Industries, Inc.(b)

     29,901        7,187,602  
           Shares            Value  

Homebuilding-(continued)

     

LGI Homes, Inc.(b)

     49,050      $ 7,323,165  

M/I Homes, Inc.(b)

     118,970        6,812,222  

NVR, Inc.(b)

     2,710        13,264,908  

Skyline Champion Corp.(b)

     122,867        7,779,939  
     

 

 

 
        42,367,836  
     

 

 

 

Oil & Gas Equipment & Services-3.57%

 

Aspen Aerogels, Inc.(b)

     181,517        9,885,416  
     

 

 

 

Specialized Consumer Services-2.44%

 

frontdoor, inc.(b)

     181,208        6,755,434  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $259,602,182)

 

     277,181,983  
     

 

 

 
Money Market Funds-0.02%

 

Invesco Government & Agency Portfolio, Institutional Class,
0.03%(d)(e)
(Cost $67,447)

     67,447        67,447  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.06%
(Cost $259,669,629)

 

     277,249,430  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-2.04%

 

Invesco Private Government Fund, 0.02%(d)(e)(f)

     1,691,808        1,691,808  

Invesco Private Prime Fund,
0.11%(d)(e)(f)

     3,945,973        3,947,552  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $5,639,360)

 

     5,639,360  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-102.10%
(Cost $265,308,989)

 

     282,888,790  

OTHER ASSETS LESS LIABILITIES-(2.10)%

 

     (5,806,417
     

 

 

 

NET ASSETS-100.00%

 

   $ 277,082,373  
     

 

 

 

 

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

       $161,244           $  1,526,583            $  (1,620,380)              $-            $-            $  67,447            $   16

 

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

   
   

 

  5   

   
 


 

Invesco Dynamic Building & Construction ETF (PKB)—(continued)

October 31, 2021

(Unaudited)

 

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

Investments Purchased with Cash Collateral from Securities on Loan:

                                                            

Invesco Private Government Fund

     $ 76,577            $ 16,849,811          $ (15,234,580 )          $ -          $ -          $ 1,691,808          $ 237 *

Invesco Private Prime Fund

       112,671              36,338,434            (32,503,553 )            -            -            3,947,552            3,363 *
    

 

 

            

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

Total

     $ 350,492            $ 54,714,828          $ (49,358,513 )          $ -          $ -          $ 5,706,807          $ 3,616
    

 

 

            

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

 

*

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

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

 as of October 31, 2021

 

     

Building Products

     30.53                                 

Construction Materials

     18.83    

Homebuilding

     15.29    

Home Improvement Retail

     8.96    

Construction & Engineering

     8.13    

Home Furnishings

     4.41    

Oil & Gas Equipment & Services

     3.57    

Sub-Industry Types Each Less Than 3%

     10.32    

Money Market Funds Plus Other Assets Less Liabilities

     (0.04  

    

 

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

   
   

 

  6   

   
 


 

Invesco Dynamic Energy Exploration & Production ETF (PXE)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares          Value  

Common Stocks & Other Equity Interests-99.97%

 

Integrated Oil & Gas-5.08%

     

Occidental Petroleum Corp.

     214,975      $ 7,208,112  
     

 

 

 
Oil & Gas Exploration & Production-80.23%

 

Antero Resources Corp.(b)

     230,729        4,584,585  

APA Corp.

     159,877        4,190,376  

California Resources Corp.(b)

     93,530        4,314,539  

CNX Resources Corp.(b)(c)

     264,232        3,860,430  

ConocoPhillips

     94,551        7,043,104  

Continental Resources, Inc.(c)

     76,547        3,736,259  

Coterra Energy, Inc.

     397,238        8,469,114  

Denbury, Inc.(b)

     41,161        3,484,690  

Diamondback Energy, Inc.

     38,464        4,122,956  

EOG Resources, Inc.

     76,606        7,082,991  

EQT Corp.(b)

     172,390        3,432,285  

Hess Corp.

     76,799        6,341,293  

Magnolia Oil & Gas Corp., Class A(c)

     199,638        4,168,441  

Marathon Oil Corp.

     246,314        4,019,845  

Matador Resources Co.

     103,338        4,324,695  

Murphy Oil Corp.

     133,601        3,718,116  

Oasis Petroleum, Inc.

     32,981        3,977,509  

Ovintiv, Inc.

     112,138        4,207,418  

PDC Energy, Inc.

     72,417        3,788,133  

Pioneer Natural Resources Co.

     35,756        6,685,657  

Range Resources Corp.(b)

     217,724        5,077,324  

SM Energy Co.

     164,303        5,638,879  

Southwestern Energy Co.(b)

     694,228        3,387,833  

Whiting Petroleum Corp.(b)

     66,448        4,327,758  
     

 

 

 
        113,984,230  
     

 

 

 

Oil & Gas Refining & Marketing-14.66%

 

HollyFrontier Corp.

     92,152        3,114,738  

Marathon Petroleum Corp.

     90,408        5,960,599  
           Shares            Value  
Oil & Gas Refining & Marketing-(continued)

 

Phillips 66

     73,908      $ 5,526,840  

Valero Energy Corp.

     80,498        6,224,910  
     

 

 

 
        20,827,087  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $121,525,386)

 

     142,019,429  
     

 

 

 

Money Market Funds-0.11%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $162,115)

     162,115        162,115  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.08%
(Cost $121,687,501)

 

     142,181,544  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-6.58%

 

  

Invesco Private Government Fund,
0.02%(d)(e)(f)

     2,802,746        2,802,746  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     6,537,126        6,539,741  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $9,342,487)

 

     9,342,487  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-106.66%
(Cost $131,029,988)

 

     151,524,031  

OTHER ASSETS LESS LIABILITIES-(6.66)%

 

     (9,456,169
     

 

 

 

NET ASSETS-100.00%

 

   $ 142,067,862  
     

 

 

 

 

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

     $ 126,666          $ 1,907,907          $ (1,872,458 )            $-            $-          $ 162,115          $ 17

Investments Purchased with Cash Collateral from Securities on Loan:

                                                          

Invesco Private Government Fund

       1,611,585            19,532,915            (18,341,754 )            -            -            2,802,746            232 *

Invesco Private Prime Fund

       2,587,028            36,989,302            (33,036,589 )            -            -            6,539,741            3,338 *
    

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

Total

     $ 4,325,279          $ 58,430,124          $ (53,250,801 )            $-            $-          $ 9,504,602          $ 3,587
    

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

          

 

 

 

 

*

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.

 

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

   
   

 

  7   

   
 


 

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

October 31, 2021

(Unaudited)

 

(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

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

 as of October 31, 2021

 

     

Oil & Gas Exploration & Production

     80.23                                       

Oil & Gas Refining & Marketing

     14.66     

Integrated Oil & Gas

     5.08     

Money Market Funds Plus Other Assets Less Liabilities

     0.03     

    

 

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

   
   

 

  8   

   
 


 

Invesco Dynamic Food & Beverage ETF (PBJ)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares          Value  

Common Stocks & Other Equity Interests-99.95%

 

Agricultural Products-12.18%

     

Archer-Daniels-Midland Co.

     43,989      $ 2,825,853  

Bunge Ltd.

     34,711        3,215,627  

Darling Ingredients, Inc.(b)

     35,679        3,015,589  

Fresh Del Monte Produce, Inc.

     82,716        2,770,159  
     

 

 

 
        11,827,228  
     

 

 

 

Brewers-2.46%

     

Molson Coors Beverage Co., Class B

     54,120        2,386,151  
     

 

 

 

Distillers & Vintners-7.65%

     

Constellation Brands, Inc., Class A

     22,169        4,806,461  

MGP Ingredients, Inc.(c)

     40,855        2,623,300  
     

 

 

 
        7,429,761  
     

 

 

 

Food Distributors-8.20%

     

Sysco Corp.

     61,276        4,712,124  

United Natural Foods, Inc.(b)

     75,025        3,255,335  
     

 

 

 
        7,967,459  
     

 

 

 

Food Retail-5.31%

     

Albertsons Cos., Inc., Class A(c)

     92,491        2,862,597  

Kroger Co. (The)

     57,314        2,293,706  
     

 

 

 
        5,156,303  
     

 

 

 

Packaged Foods & Meats-42.44%

     

Dole PLC(b)

     162,966        2,379,304  

Hain Celestial Group, Inc. (The)(b)

     65,389        2,934,004  

Hershey Co. (The)

     27,292        4,785,652  

Hostess Brands, Inc.(b)(c)

     168,192        3,180,511  

J&J Snack Foods Corp.

     16,081        2,372,752  

JM Smucker Co. (The)

     20,611        2,532,267  

Kraft Heinz Co. (The)

     131,526        4,720,468  

Mondelez International, Inc., Class A

     77,224        4,690,586  

Nomad Foods Ltd. (United Kingdom)(b)

     98,244        2,675,184  

Pilgrim’s Pride Corp.(b)

     96,294        2,711,639  

Sanderson Farms, Inc.

     13,616        2,579,551  

Simply Good Foods Co. (The)(b)

     75,457        2,991,870  

Tyson Foods, Inc., Class A

     33,140        2,650,206  
     

 

 

 
        41,203,994  
     

 

 

 

Personal Products-2.52%

     

Herbalife Nutrition Ltd.(b)

     52,705        2,445,512  
     

 

 

 
           Shares          Value  

Restaurants-4.56%

     

Starbucks Corp.

     41,772      $ 4,430,756  
     

 

 

 

Soft Drinks-14.63%

     

Coca-Cola Consolidated, Inc.

     6,595        2,647,233  

Coca-Cola Europacific Partners PLC
(United Kingdom)

     44,991        2,368,776  

Keurig Dr Pepper, Inc.

     137,466        4,961,148  

Monster Beverage Corp.(b)

     49,748        4,228,580  
     

 

 

 
        14,205,737  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $87,765,509)

 

     97,052,901  
     

 

 

 
Money Market Funds-0.18%      

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $171,773)

     171,773        171,773  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.13%
(Cost $87,937,282)

 

     97,224,674  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-7.32%

 

Invesco Private Government Fund,
0.02%(d)(e)(f)

     2,110,189        2,110,189  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     4,997,315        4,999,315  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $7,109,504)

 

     7,109,504  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.45%
(Cost $95,046,786)

 

     104,334,178  

OTHER ASSETS LESS LIABILITIES-(7.45)%

 

     (7,237,299
     

 

 

 

NET ASSETS-100.00%

 

   $ 97,096,879  
     

 

 

 

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

     $   178,307          $   2,231,105          $   (2,237,639          $ -          $ -          $     171,773          $     23

 

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

   
   

 

  9   

   
 


 

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

October 31, 2021

(Unaudited)

 

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

Investments Purchased with Cash Collateral from Securities on Loan:

 

                                                                 

Invesco Private Government Fund

     $ 3,583,338                   $ 12,997,084                   $ (14,470,233 )                   $ -                   $ -                   $ 2,110,189                   $ 166 *

Invesco Private Prime Fund

       5,375,007              23,467,510              (23,843,202 )              -              -              4,999,315              2,559 *
    

 

 

            

 

 

            

 

 

            

 

 

            

 

 

            

 

 

            

 

 

 

Total

     $ 9,136,652            $ 38,695,699            $ (40,551,074 )            $ -            $ -            $ 7,281,277            $ 2,748
    

 

 

            

 

 

            

 

 

            

 

 

            

 

 

            

 

 

            

 

 

 

 

*

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

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

 as of October 31, 2021

 

     

Packaged Foods & Meats

     42.44                                  

Soft Drinks

     14.63     

Agricultural Products

     12.18     

Food Distributors

     8.20     

Distillers & Vintners

     7.65     

Food Retail

     5.31     

Restaurants

     4.56     

Sub-Industry Types Each Less Than 3%

     4.98     

Money Market Funds Plus Other Assets Less Liabilities

     0.05     

    

 

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

   
   

 

  10   

   
 


 

Invesco Dynamic Leisure and Entertainment ETF (PEJ)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares          Value  

Common Stocks & Other Equity Interests-100.06%

 

Airlines-2.58%

     

SkyWest, Inc.(b)(c)

     851,813      $ 36,653,513  
     

 

 

 

Broadcasting-11.44%

 

  

AMC Networks, Inc., Class A(b)(c)

     768,550        30,580,605  

Discovery, Inc., Class A(b)(c)

     1,304,137        30,568,971  

Fox Corp., Class A

     1,009,674        40,124,445  

ViacomCBS, Inc., Class B

     1,685,983        61,066,304  
     

 

 

 
        162,340,325  
     

 

 

 

Casinos & Gaming-17.65%

 

  

Boyd Gaming Corp.(b)(c)

     621,942        39,667,461  

Everi Holdings, Inc.(b)

     1,621,695        38,920,680  

Golden Entertainment, Inc.(b)

     768,859        39,957,602  

MGM Resorts International

     914,894        43,146,401  

Red Rock Resorts, Inc., Class A(b)(c)

     863,403        46,977,757  

Scientific Games Corp.(b)

     523,836        41,933,072  
     

 

 

 
            250,602,973  
     

 

 

 

Food Distributors-7.45%

 

  

Sysco Corp.

     874,689        67,263,584  

US Foods Holding Corp.(b)

     1,110,640        38,505,889  
     

 

 

 
        105,769,473  
     

 

 

 

Hotels, Resorts & Cruise Lines-11.52%

 

  

Booking Holdings, Inc.(b)

     30,728        74,385,728  

Choice Hotels International,
Inc.
(c)

     317,760        44,683,411  

Wyndham Hotels & Resorts, Inc.

     525,686        44,404,697  
     

 

 

 
        163,473,836  
     

 

 

 

Interactive Media & Services-5.55%

 

  

Eventbrite, Inc., Class A(b)(c)

     2,149,845        43,512,863  

TripAdvisor, Inc.(b)(c)

     1,069,688        35,267,613  
     

 

 

 
        78,780,476  
     

 

 

 

Movies & Entertainment-20.62%

 

  

Cinemark Holdings, Inc.(b)(c)

     2,324,764        43,705,563  

Live Nation Entertainment,
Inc.
(b)(c)

     436,530        44,155,010  

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

     227,384        43,091,542  
           Shares            Value  

Movies & Entertainment-(continued)

 

  

Walt Disney Co. (The)(b)

     384,491      $ 65,005,893  

Warner Music Group Corp., Class A

     1,031,381        51,043,046  

World Wrestling Entertainment, Inc., Class A(c)

     748,272        45,711,936  
     

 

 

 
        292,712,990  
     

 

 

 

Restaurants-23.25%

     

Bloomin’ Brands, Inc.(b)(c)

     1,450,727        31,364,718  

Chipotle Mexican Grill, Inc.(b)

     35,737        63,577,195  

Darden Restaurants, Inc.

     256,584        36,984,018  

McDonald’s Corp.

     287,786        70,665,852  

Starbucks Corp.

     596,269        63,246,253  

Yum! Brands, Inc.

     513,851        64,200,544  
     

 

 

 
        330,038,580  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.06%
(Cost $1,453,672,662)

 

     1,420,372,166  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-13.52%

 

  

Invesco Private Government Fund, 0.02%(d)(e)(f)

     57,594,300        57,594,300  

Invesco Private Prime Fund,
0.11%
(d)(e)(f)

     134,332,965        134,386,700  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $191,980,999)

 

     191,981,000  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-113.58%
(Cost $1,645,653,661)

 

     1,612,353,166  

OTHER ASSETS LESS LIABILITIES-(13.58)%

 

     (192,767,103
     

 

 

 

NET ASSETS-100.00%

 

   $ 1,419,586,063  
     

 

 

 

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
(Depreciation)
       Realized  
Gain
(Loss)
     Value
October 31, 2021
   Dividend 
Income
 

Investments in Affiliated Money Market Funds:

 

               

Invesco Government & Agency Portfolio, Institutional Class

     $ 480,462      $ 172,980,781      $ (173,461,243    $ -      $ -       $ -       $ 538  

 

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

   
   

 

  11   

   
 


 

Invesco Dynamic Leisure and Entertainment ETF (PEJ)—(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 Purchased with Cash Collateral from Securities on Loan:

                

Invesco Private Government Fund

   $ 168,230,291      $ 256,294,839      $ (366,930,830   $ -     $ -     $ 57,594,300       $ 4,526

Invesco Private Prime Fund

     254,337,814        513,927,442        (633,878,555     (1     -       134,386,700       72,473

Investments in Other Affiliates:

                

Manchester United PLC, Class A

     50,018,741        17,670,650        (66,017,990     (1,005,808     (665,593     -       250,879  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

 

 

 

Total

   $ 473,067,308      $ 960,873,712      $ (1,240,288,618   $ (1,005,809   $ (665,593   $ 191,981,000     $ 328,416  
  

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

 

 

 

 

*

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

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

  as of October 31, 2021

     

Restaurants

     23.25    

Movies & Entertainment

     20.62    

Casinos & Gaming

     17.65                                 

Hotels, Resorts & Cruise Lines

     11.52    

Broadcasting

     11.44    

Food Distributors

     7.45    

Interactive Media & Services

     5.55    

Airlines

     2.58    

Money Market Funds Plus Other Assets Less Liabilities

     (0.06  

 

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

   
   

 

  12   

   
 


 

Invesco Dynamic Media ETF (PBS)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares         Value  

Common Stocks & Other Equity Interests-100.08%

 

Advertising-8.46%

    

Interpublic Group of Cos., Inc. (The)

     83,544       $ 3,055,204  

Omnicom Group, Inc.

     42,607       2,900,685  

TechTarget, Inc.(b)

     40,450       3,814,839  
    

 

 

 
       9,770,728  
    

 

 

 

Broadcasting-17.54%

    

AMC Networks, Inc., Class A(b)(c)

     63,507       2,526,943  

Discovery, Inc., Class A(b)

     107,765       2,526,012  

Fox Corp., Class A

     83,433       3,315,628  

iHeartMedia, Inc., Class A(b)

     130,005       2,519,497  

Nexstar Media Group, Inc., Class A

     20,947       3,140,584  

TEGNA, Inc.

     176,532       3,470,619  

ViacomCBS, Inc., Class B

     75,991       2,752,394  
    

 

 

 
       20,251,677  
    

 

 

 

Cable & Satellite-7.56%

    

DISH Network Corp., Class A(b)

     71,577       2,939,668  

Sirius XM Holdings, Inc.(c)

     490,147       2,984,995  

WideOpenWest, Inc.(b)

     146,997       2,800,293  
    

 

 

 
       8,724,956  
    

 

 

 

Interactive Media & Services-34.57%

 

 

Alphabet, Inc., Class A(b)

     2,006       5,939,606  

IAC/InterActiveCorp.(b)

     23,273       3,546,107  

Match Group, Inc.(b)

     40,456       6,099,956  

Meta Platforms, Inc., Class A(b)

     15,513       5,019,541  

Pinterest, Inc., Class A(b)

     102,757       4,587,073  

Twitter, Inc.(b)

     88,624       4,744,929  

Yelp, Inc.(b)

     80,394       3,105,620  

Ziff Davis, Inc.(b)

     27,435       3,519,087  

ZipRecruiter, Inc., Class A(b)

     120,767       3,354,907  
    

 

 

 
       39,916,826  
    

 

 

 

Internet & Direct Marketing Retail-2.89%

 

 

Shutterstock, Inc.

     27,567       3,339,742  
    

 

 

 

IT Consulting & Other Services-2.95%

 

 

Gartner, Inc.(b)

     10,275       3,410,375  
    

 

 

 

Movies & Entertainment-17.09%

 

 

Netflix, Inc.(b)

     10,245       7,072,226  
           Shares            Value  

Movies & Entertainment-(continued)

 

  

Spotify Technology S.A.(b)

     25,213      $ 7,296,642  

Walt Disney Co. (The)(b)

     31,771        5,371,523  
     

 

 

 
        19,740,391  
     

 

 

 

Publishing-9.02%

     

John Wiley & Sons, Inc., Class A

     53,113        2,877,131  

Meredith Corp.(b)

     74,924        4,363,574  

News Corp., Class A

     138,569        3,173,230  
     

 

 

 
            10,413,935  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $109,506,397)

 

     115,568,630  
     

 

 

 
Money Market Funds-0.05%

 

  

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $61,714)

     61,714        61,714  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.13%
(Cost $109,568,111)

 

     115,630,344  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  
Money Market Funds-2.91%

 

  

Invesco Private Government Fund, 0.02%(d)(e)(f)

     986,436        986,436  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     2,369,685        2,370,633  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,357,069)

 

     3,357,069  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-103.04%
(Cost $112,925,180)

 

     118,987,413  

OTHER ASSETS LESS LIABILITIES-(3.04)%

 

     (3,512,162
     

 

 

 

NET ASSETS-100.00%

      $ 115,475,251  
     

 

 

 

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

        $ 103,023     $ 1,210,537         $ (1,251,846 )           $-           $-     $ 61,714     $ 15

 

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

   
   

 

  13   

   
 


 

Invesco Dynamic Media ETF (PBS)—(continued)

October 31, 2021

(Unaudited)

 

   

    

 

Value

April 30, 2021

 

Purchases

    at Cost    

        

Proceeds

from Sales

        

Change in

Unrealized

Appreciation

        

Realized

    Gain    

 

Value

October 31, 2021

 

Dividend

  Income  

Investments Purchased with Cash Collateral from Securities on Loan:

                                           

Invesco Private Government Fund

        $ 5,913,120     $ 14,217,101         $ (19,143,785 )           $-           $-     $ 986,436     $ 251 *

Invesco Private Prime Fund

          8,869,680       29,987,879           (36,486,926 )           -           -       2,370,633       3,850 *
       

 

 

     

 

 

         

 

 

         

 

 

         

 

 

     

 

 

     

 

 

 

Total

        $ 14,885,823     $ 45,415,517         $ (56,882,557 )           $-           $-     $ 3,418,783     $ 4,116
       

 

 

     

 

 

         

 

 

         

 

 

         

 

 

     

 

 

     

 

 

 

 

*

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

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

as of October 31, 2021

     

Interactive Media & Services

     34.57    

Broadcasting

     17.54                                 

Movies & Entertainment

     17.09    

Publishing

     9.02    

Advertising

     8.46    

Cable & Satellite

     7.56    

Sub-Industry Types Each Less Than 3%

     5.84    

Money Market Funds Plus Other Assets Less Liabilities

     (0.08  

 

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

   
   

 

  14   

   
 


 

Invesco Dynamic Networking ETF (PXQ)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

           Shares         Value  

Common Stocks & Other Equity Interests-100.01%

 

Application Software-14.74%

    

Datadog, Inc., Class A(b)

     16,118       $ 2,692,512  

Dynatrace, Inc.(b)

     18,160       1,362,000  

InterDigital, Inc.

     16,573       1,109,563  

Mimecast Ltd.(b)

     19,012       1,434,264  
    

 

 

 
       6,598,339  
    

 

 

 

Communications Equipment-33.99%

 

 

Arista Networks, Inc.(b)

     3,164       1,296,259  

Calix, Inc.(b)

     25,429       1,591,601  

Ciena Corp.(b)

     21,167       1,149,156  

Cisco Systems, Inc.

     36,812       2,060,368  

CommScope Holding Co., Inc.(b)

     75,148       804,835  

Extreme Networks, Inc.(b)

     108,875       1,070,241  

F5 Networks, Inc.(b)

     5,793       1,223,192  

Juniper Networks, Inc.

     40,472       1,194,734  

Motorola Solutions, Inc.

     4,981       1,238,227  

NetScout Systems, Inc.(b)

     42,600       1,152,756  

Radware Ltd. (Israel)(b)

     35,094       1,243,380  

Ubiquiti, Inc.

     3,902       1,192,178  
    

 

 

 
       15,216,927  
    

 

 

 

Consumer Electronics-2.20%

 

 

Garmin Ltd.

     6,869       986,388  
    

 

 

 

Electronic Components-7.87%

 

 

Amphenol Corp., Class A

     28,984       2,225,102  

Belden, Inc.

     21,544       1,297,164  
    

 

 

 
       3,522,266  
    

 

 

 

Semiconductors-4.49%

 

 

QUALCOMM, Inc.

     15,116       2,011,033  
    

 

 

 

Systems Software-31.83%

 

 

Crowdstrike Holdings, Inc., Class A(b)

     8,221       2,316,678  

Fortinet, Inc.(b)

     7,283       2,449,564  

KnowBe4, Inc., Class A(b)

     52,961       1,238,228  

McAfee Corp., Class A

     44,278       946,221  

Qualys, Inc.(b)

     10,632       1,323,471  
           Shares            Value  

Systems Software-(continued)

     

SecureWorks Corp., Class A(b)

     60,925      $ 1,122,238  

Varonis Systems, Inc.(b)(c)

     19,601        1,268,969  

VMware, Inc., Class A(b)(c)

     13,918        2,111,361  

Zscaler, Inc.(b)

     4,617        1,472,177  
     

 

 

 
        14,248,907  
     

 

 

 

Technology Hardware, Storage & Peripherals-4.89%

 

  

Apple, Inc.

     14,595        2,186,331  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $36,414,137)

 

     44,770,191  
     

 

 

 

Money Market Funds-0.21%

 

  

Invesco Government & Agency Portfolio, Institutional Class,
0.03%
(d)(e)
(Cost $93,768)

     93,768        93,768  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.22%
(Cost $36,507,905)

 

     44,863,959  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

  

Money Market Funds-6.17%

     

Invesco Private Government Fund, 0.02%(d)(e)(f)

     828,873        828,873  

Invesco Private Prime Fund,
0.11%
(d)(e)(f)

     1,933,264        1,934,037  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $2,762,910)

 

     2,762,910  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-106.39%
(Cost $39,270,815)

        47,626,869  

OTHER ASSETS LESS LIABILITIES-(6.39)%

        (2,861,140
     

 

 

 

NET ASSETS-100.00%

      $ 44,765,729  
     

 

 

 

 

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

   $ 131,683         $ 458,710      $ (496,625     $-        $-        $    93,768           $    13  

 

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

   
   

 

  15   

   
 


 

Invesco Dynamic Networking ETF (PXQ)—(continued)

October 31, 2021

(Unaudited)

 

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

Investments Purchased with Cash

Collateral from Securities on Loan:

 

 

                                 

Invesco Private Government Fund

     $ 3,007,918           $ 8,438,140      $ (10,617,185 )     $ -      $ -      $ 828,873           $ 74 *

Invesco Private Prime Fund

       4,511,877             14,874,252        (17,452,092 )       -        -        1,934,037             1,186 *
    

 

 

           

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

 

Total

     $ 7,651,478           $ 23,771,102      $ (28,565,902 )     $ -      $ -      $ 2,856,678           $ 1,273
    

 

 

           

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

 

 

*

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

    

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

as of October 31, 2021

 

 

Communications Equipment

     33.99                                 

Systems Software

     31.83    

Application Software

     14.74    

Electronic Components

     7.87    

Technology Hardware, Storage & Peripherals

     4.89    

Semiconductors

     4.49    

Consumer Electronics

     2.20    

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.

   
   

 

  16   

   
 


 

Invesco Dynamic Oil & Gas Services ETF (PXJ)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

         Shares        Value  

Common Stocks & Other Equity Interests-81.65%

 

Oil & Gas Drilling-17.80%

     

Helmerich & Payne, Inc.

     76,981      $ 2,389,490  

Patterson-UTI Energy, Inc.

     157,626        1,349,278  

Transocean Ltd.(b)(c)

     387,562        1,368,094  
     

 

 

 
        5,106,862  
     

 

 

 

Oil & Gas Equipment & Services-59.07%

 

Baker Hughes Co., Class A

     89,739        2,250,654  

Cactus, Inc., Class A

     30,955        1,346,543  

ChampionX Corp.(b)

     86,993        2,281,826  

Halliburton Co.

     99,951        2,497,775  

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

     104,176        1,345,954  

NOV, Inc.(b)

     97,026        1,360,305  

Schlumberger N.V.

     70,635        2,278,685  

TechnipFMC PLC (United Kingdom)(b)

     301,324        2,220,758  

USA Compression Partners L.P.

     86,005     

 

1,366,619

 

     

 

 

 
        16,949,119  
     

 

 

 

Oil & Gas Storage & Transportation-4.78%

 

Frontline Ltd. (Norway)(c)

     155,591        1,370,757  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $22,866,978)

 

     23,426,738  
     

 

 

 

Exchange-Traded Funds-9.57%

 

Energy Select Sector SPDR Fund

     14,193        815,672  

VanEck Oil Services ETF

     5,201        1,093,458  

Vanguard Energy ETF

     10,318        838,028  
     

 

 

 

Total Exchange-Traded Funds
(Cost $2,747,351)

 

     2,747,158  
     

 

 

 

         Shares        Value  

Money Market Funds-0.33%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $95,450)

     95,450      $ 95,450  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-91.55%
(Cost $25,709,779)

 

     26,269,346  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-12.62%

 

Invesco Private Government Fund, 0.02%(d)(e)(f)

     1,085,928        1,085,928  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     2,532,820        2,533,833  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,619,761)

 

     3,619,761  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-104.17%
(Cost $29,329,540)

 

     29,889,107  

OTHER ASSETS LESS LIABILITIES-(4.17)%

 

     (1,197,638
     

 

 

 

NET ASSETS-100.00%

      $ 28,691,469  
     

 

 

 

 

Investment Abbreviations:

ETF -Exchange-Traded Fund

SPDR-Standard & Poor’s 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 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

     $   105,292      $   7,112,190      $   (7,122,032     $ -      $ -      $   95,450           $   20

 

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

   
   

 

  17   

   
 


 

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

October 31, 2021

(Unaudited)

 

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

Investments Purchased with Cash

Collateral from Securities on Loan:

 

 

                                 

Invesco Private Government Fund

     $ 4,682,156      $ 10,762,303      $ (14,358,531 )     $ -      $ -      $ 1,085,928           $ 96 *

Invesco Private Prime Fund

       7,023,233        18,815,685        (23,305,085 )       -        -        2,533,833             1,527 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

 

Total

     $ 11,810,681      $ 36,690,178      $ (44,785,648 )     $ -      $ -      $ 3,715,211           $ 1,643
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

 

 

*

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

     

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

as of October 31, 2021

 

 

Oil & Gas Equipment & Services

     59.07     

Oil & Gas Drilling

     17.80                                  

Investment Companies - Exchange- Traded Funds

     9.57     

Oil & Gas Storage & Transportation

     4.78     

Money Market Funds Plus Other Assets Less Liabilities

     8.78     

 

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

   
   

 

  18   

   
 


 

Invesco Dynamic Pharmaceuticals ETF (PJP)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

         Shares        Value  

Common Stocks & Other Equity Interests-99.98%

 

Biotechnology-39.28%

     

AbbVie, Inc.

     223,283      $ 25,603,862  

Amgen, Inc.

     119,089        24,647,850  

Biogen, Inc.(b)

     47,559        12,683,034  

Emergent BioSolutions, Inc.(b)(c)

     264,772        12,621,681  

Gilead Sciences, Inc.

     369,861        23,996,582  

Horizon Therapeutics PLC(b)

     153,014        18,347,909  

Ligand Pharmaceuticals, Inc.(b)(c)

     143,491        20,941,076  

Regeneron Pharmaceuticals, Inc.(b)

     24,806        15,874,352  

United Therapeutics Corp.(b)

     80,674        15,389,372  
     

 

 

 
        170,105,718  
     

 

 

 

Health Care Equipment-6.34%

     

Abbott Laboratories

     212,939        27,445,708  
     

 

 

 

Pharmaceuticals-54.36%

     

Bausch Health Cos., Inc.(b)

     579,800        16,280,784  

Corcept Therapeutics, Inc.(b)

     786,418        14,155,524  

Eli Lilly and Co.

     101,687        25,905,780  

Jazz Pharmaceuticals PLC(b)(c)

     121,834        16,208,795  

Johnson & Johnson

     152,367        24,817,537  

Merck & Co., Inc.

     343,836        30,274,760  

Pacira BioSciences, Inc.(b)

     284,245        14,860,329  

Perrigo Co. PLC

     405,419        18,304,668  

Pfizer, Inc.

     552,354        24,159,964  

Prestige Consumer Healthcare, Inc.(b)

     290,053        17,400,279  

Supernus Pharmaceuticals, Inc.(b)(c)

     660,744        19,723,208  

Taro Pharmaceutical Industries Ltd.(b)

     240,377        13,357,750  
     

 

 

 
        235,449,378  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $376,171,833)

 

     433,000,804  
     

 

 

 
         Shares        Value  

Money Market Funds-0.01%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $59,889)

     59,889      $ 59,889  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.99%
(Cost $376,231,722)

 

     433,060,693  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-6.55%

 

Invesco Private Government Fund,
0.02%(d)(e)(f)

     8,505,459        8,505,459  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     19,838,137        19,846,072  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $28,351,531)

 

     28,351,531  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-106.54%
(Cost $404,583,253)

 

     461,412,224  

OTHER ASSETS LESS LIABILITIES-(6.54)%

 

     (28,328,110
     

 

 

 

NET ASSETS-100.00%

      $ 433,084,114  
     

 

 

 

 

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

     $ -      $ 7,449,948      $ (7,390,059 )     $ -      $ -      $ 59,889           $ 30    

Investments Purchased with Cash

Collateral from Securities on Loan:

 

 

                                     

Invesco Private Government Fund

       1,171,074        39,524,933        (32,190,548 )       -        -        8,505,459             499 *    

Invesco Private Prime Fund

       1,756,610        87,817,390        (69,727,928 )       -        -        19,846,072             6,797 *    
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

     

Total

     $ 2,927,684      $ 134,792,271      $ (109,308,535 )     $ -      $ -      $ 28,411,420           $ 7,326    
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

           

 

 

     

 

*

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.

 

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

   
   

 

  19   

   
 


 

Invesco Dynamic Pharmaceuticals ETF (PJP) —(continued)

October 31, 2021

(Unaudited)

 

(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

     

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

as of October 31, 2021

 

 

Pharmaceuticals

     54.36                                  

Biotechnology

     39.28     

Health Care Equipment

     6.34     

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.

   
   

 

  20   

   
 


 

Invesco Dynamic Semiconductors ETF (PSI)

October 31, 2021

(Unaudited)

 

Schedule of Investments(a)

 

         Shares        Value  

Common Stocks & Other Equity Interests-100.03%

 

Electronic Manufacturing Services-2.44%

 

TE Connectivity Ltd.

     127,755      $ 18,652,230