LOGO             

  

 

 

Invesco Semi-Annual Report to Shareholders

 

February 28, 2023

    

 

  IMFL   Invesco International Developed Dynamic Multifactor ETF
  OMFL   Invesco Russell 1000® Dynamic Multifactor ETF
  OMFS   Invesco Russell 2000® Dynamic Multifactor ETF

 

 

Table of Contents

 

Schedules of Investments

   

Invesco International Developed Dynamic Multifactor ETF (IMFL)

     3  

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)

      10  

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)

      15  

Statements of Assets and Liabilities

      23  

Statements of Operations

      24  

Statements of Changes in Net Assets

      25  

Financial Highlights

      26  

Notes to Financial Statements

      29  

Fund Expenses

      38  

 

    2    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)

February 28, 2023

(Unaudited)

Schedule of Investments

 

        Shares      Value  

Common Stocks & Other Equity Interests-99.71%

 

Australia-6.83%

     

Adbri Ltd.(a)

     66,335      $ 76,493  

AGL Energy Ltd.

      96,769              450,268  

AMP Ltd.

      380,188       265,353  

Ampol Ltd.

      20,747       461,135  

Ansell Ltd.

      16,260       297,479  

Aurizon Holdings Ltd.

      111,283       248,395  

Beach Energy Ltd.

      253,732       242,112  

Bendigo & Adelaide Bank Ltd.

      37,683       248,525  

BlueScope Steel Ltd.

      68,027       874,359  

Boral Ltd.(a)(b)

     48,586       119,261  

Challenger Ltd.(a)

     96,706       488,451  

Charter Hall Group

      27,062       242,898  

CSR Ltd.

      70,443       241,791  

Deterra Royalties Ltd.

      23,186       69,891  

Downer EDI Ltd.

      97,124       206,966  

EBOS Group Ltd.(a)

     9,458       259,995  

Evolution Mining Ltd.

      163,382       299,680  

GPT Group (The)(a)

     93,908       298,270  

Harvey Norman Holdings Ltd.(a)

     74,928       194,532  

Iluka Resources Ltd.

      23,447       164,756  

JB Hi-Fi Ltd.(a)

     15,705       443,114  

Magellan Financial Group Ltd.

      20,234       116,799  

Metcash Ltd.

      138,865       381,130  

Mirvac Group

      146,810       224,733  

Nufarm Ltd.

      54,555       213,745  

Orora Ltd.

      117,385       279,430  

Perpetual Ltd.

      4,325       71,135  

Platinum Asset Management Ltd.

      55,125       69,886  

Region RE Ltd.

      102,976       177,077  

Seven Group Holdings Ltd.

      9,685       159,881  

Stockland

      128,570       332,933  

Tabcorp Holdings Ltd.

      317,738       216,409  

Vicinity Ltd.

      123,720       170,198  

Whitehaven Coal Ltd.(a)

     114,960       560,493  
    

 

 

  
       9,167,573  
    

 

 

  

Austria-1.13%

     

ANDRITZ AG

      3,126       193,769  

OMV AG

      5,606       274,132  

Raiffeisen Bank International AG(b)

     18,585       311,409  

Telekom Austria AG(b)

     17,485       130,912  

voestalpine AG

      16,485       612,232  
    

 

 

  
       1,522,454  
    

 

 

  

Belgium-1.49%

     

Ackermans & van Haaren N.V.

      1,336       227,118  

Etablissements Franz Colruyt N.V.(a)

     7,243       196,562  

Proximus SADP

      20,291       187,642  

Sofina S.A.

      943       236,412  

Solvay S.A., Class A

      3,434       394,221  

Umicore S.A.

      18,400       616,032  

Warehouses De Pauw C.V.A.

      4,723       145,053  
    

 

 

  
       2,003,040  
    

 

 

  

Burkina Faso-0.16%

     

Endeavour Mining PLC

      10,354       212,720  
    

 

 

  

Cambodia-0.06%

     

NagaCorp Ltd.(b)

     104,000       82,145  
    

 

 

  
        Shares      Value  

Canada-1.75%

     

Canadian Tire Corp. Ltd., Class A

      7,929      $ 990,594  

Fairfax Financial Holdings Ltd.

      1,711       1,198,900  

IGM Financial, Inc.

      5,081       154,955  
    

 

 

  
           2,344,449  
    

 

 

  

China-1.20%

     

AAC Technologies Holdings, Inc.(b)

     99,000       220,967  

BOC Aviation Ltd.(c)

     15,000       108,351  

Kerry Logistics Network Ltd.

      39,500       65,217  

Lenovo Group Ltd.

      636,000       570,411  

MMG Ltd.(b)

     360,000       101,357  

Nexteer Automotive Group Ltd.

      118,000       74,863  

SITC International Holdings Co. Ltd.

      81,000       169,234  

Xinyi Glass Holdings Ltd.

      160,000       298,821  
    

 

 

  
       1,609,221  
    

 

 

  

Denmark-1.10%

     

Danske Bank A/S

      29,587       689,084  

GN Store Nord A/S(a)

     8,274       179,675  

H Lundbeck A/S

      16,338       69,282  

H Lundbeck A/S, Class A(b)

     8,636       33,102  

Pandora A/S

      4,331       411,871  

Rockwool A/S, Class B(a)

     442       100,927  
    

 

 

  
       1,483,941  
    

 

 

  

Finland-1.29%

     

Fortum OYJ(a)

     37,650       577,357  

Huhtamaki OYJ

      3,915       138,631  

Kesko OYJ, Class B

      15,316       334,111  

Kojamo OYJ(a)

     16,776       223,098  

Valmet OYJ

      7,175       237,936  

Wartsila OYJ Abp(a)

     22,695       220,367  
    

 

 

  
       1,731,500  
    

 

 

  

France-6.51%

     

ALD S.A.(c)

     12,668       168,736  

Arkema S.A.

      7,727       787,982  

Bouygues S.A.

      12,790       434,584  

Carrefour S.A.(a)

     30,167       598,572  

Cie de L’Odet SE(a)

     56       85,519  

Covivio

      2,852       183,590  

Eiffage S.A.

      6,429       709,068  

Eurazeo SE

      7,014       474,567  

Faurecia SE(b)

     22,697       498,493  

ICADE(a)

     2,876       144,570  

JCDecaux SE(b)

     8,030       184,282  

Renault S.A.(b)

     19,054       858,182  

Rexel S.A.

      34,680       866,126  

SCOR SE.

      21,564       531,696  

SEB S.A.(a)

     4,208       488,207  

Valeo

      34,939       731,237  

Vivendi SE

      53,107       549,007  

Wendel SE

      3,857       439,713  
    

 

 

  
       8,734,131  
    

 

 

  

Germany-6.27%

     

1&1 AG

      5,998       72,132  

Aroundtown S.A.(a)

     154,650       402,144  

Commerzbank AG(b)

     52,268       638,833  

Continental AG

      4,317       311,316  

 

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

 

    3    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Germany-(continued)

     

Covestro AG(c)

     25,582      $     1,129,953  

DWS Group GmbH & Co. KGaA(c)

     1,834       59,905  

Evonik Industries AG

      8,817       189,159  

Fresenius Medical Care AG& Co. KGaA

      14,458       566,084  

Fresenius SE & Co. KGaA

      23,955       661,274  

Fuchs Petrolub SE

      1,297       42,640  

HeidelbergCement AG

      12,055       832,516  

HelloFresh SE(b)

     9,557       215,576  

HOCHTIEF AG

      3,085       210,956  

KION Group AG

      7,545       297,575  

Lanxess AG

      12,420       580,859  

LEG Immobilien SE

      6,199       452,163  

METRO AG(a)(b)

     18,998       172,159  

Sixt SE, Preference Shares

      625       50,838  

Talanx AG

      4,027       192,862  

Telefonica Deutschland Holding AG

      26,631       81,083  

thyssenkrupp AG

      65,445       493,049  

Traton SE

      5,711       93,694  

United Internet AG

      13,070       287,195  

Wacker Chemie AG

      628       98,834  

Zalando SE(b)(c)

     7,291       290,727  
    

 

 

  
       8,423,526  
    

 

 

  

Hong Kong-1.92%

     

ASMPT Ltd.

      37,000       315,345  

Bank of East Asia Ltd. (The)

      126,800       178,985  

Cafe de Coral Holdings Ltd.

      32,000       49,165  

Dah Sing Banking Group Ltd.

      52,800       42,848  

Dah Sing Financial Holdings Ltd.

      20,400       55,097  

DFI Retail Group Holdings Ltd.

      43,570       140,295  

Guotai Junan International Holdings Ltd.

      359,000       31,558  

Haitong International Securities Group
Ltd.(a)(b)

     404,000       40,660  

Hang Lung Group Ltd.

      95,000       172,584  

Huabao International Holdings Ltd.(a)

     75,000       37,550  

Hutchison Port Holdings Trust, Class U

      733,146       134,899  

Hutchison Telecommunications Hong Kong Holdings Ltd.

      176,000       30,045  

Hysan Development Co. Ltd.

      22,000       69,648  

Johnson Electric Holdings Ltd.

      51,000       58,475  

Kerry Properties Ltd.

      86,500       216,429  

Man Wah Holdings Ltd.

      120,400       123,015  

PCCW Ltd.

      378,144       187,880  

United Energy Group Ltd.

      480,000       44,028  

VTech Holdings Ltd.

      21,200       116,405  

WH Group Ltd.(c)

     648,500       376,732  

Yue Yuen Industrial Holdings Ltd.

      102,000       150,736  
    

 

 

  
       2,572,379  
    

 

 

  

Indonesia-0.08%

     

First Pacific Co. Ltd.

      334,000       111,908  
    

 

 

  

Ireland-1.25%

     

AIB Group PLC

      114,134       489,724  

Bank of Ireland Group PLC

      94,807       1,048,662  

Glanbia PLC

      10,882       135,138  
    

 

 

  
       1,673,524  
    

 

 

  

Israel-1.44%

     

Airport City Ltd.(b)

     5,763       76,167  

Alony Hetz Properties & Investments Ltd.

      10,024       87,288  

Ashtrom Group Ltd.

      5,521       84,636  
        Shares      Value  

Israel-(continued)

     

Bezeq The Israeli Telecommunication Corp. Ltd.

      121,054      $ 167,613  

Big Shopping Centers Ltd.(b)

     496       43,028  

Delek Group Ltd.(b)

     1,113              104,719  

Elco Ltd.

      1,383       51,034  

Fox Wizel Ltd.

      497       39,523  

Gav-Yam Lands Corp. Ltd.

      2,532       18,098  

Harel Insurance Investments & Financial Services Ltd.

      16,064       135,223  

Israel Corp. Ltd.

      524       178,874  

Israel Discount Bank Ltd., Class A

      51,011       242,138  

Melisron Ltd.

      703       42,068  

Mivne Real Estate KD Ltd.

      25,376       65,611  

Paz Oil Co. Ltd.(b)

     1,424       150,859  

Phoenix Holdings Ltd. (The)

      17,186       164,145  

Sapiens International Corp. N.V.

      1,541       32,107  

Shufersal Ltd.

      38,202       197,232  

Strauss Group Ltd.(a)

     2,525       57,509  
    

 

 

  
       1,937,872  
    

 

 

  

Italy-3.30%

     

A2A S.p.A.(a)

     219,200       324,400  

Banca Mediolanum S.p.A.

      28,850       280,744  

Buzzi Unicem S.p.A.

      12,486       288,001  

De’ Longhi S.p.A.(a)

     10,025       250,904  

Hera S.p.A.(a)

     112,980       302,294  

Italgas S.p.A.

      33,283       190,072  

Leonardo S.p.A.

      57,502       647,312  

Mediobanca Banca di Credito Finanziario S.p.A.

      61,337       656,984  

Pirelli & C. S.p.A.(c)

     56,035       286,548  

Poste Italiane S.p.A.(c)

     27,704       299,677  

Telecom Italia S.p.A.(a)(b)

     1,503,697       493,072  

Telecom Italia S.p.A., RSP(a)(b)

     875,318       282,196  

UnipolSai Assicurazioni S.p.A.(a)

     49,288       125,762  
    

 

 

  
       4,427,966  
    

 

 

  

Japan-30.59%

     

Aeon Mall Co. Ltd.

      4,130       53,908  

AGC, Inc.

      9,776       361,715  

Aica Kogyo Co. Ltd.

      2,242       50,941  

Ain Holdings, Inc.

      826       34,322  

Air Water, Inc.

      23,092       277,514  

Aisin Corp.

      9,186       251,542  

Alfresa Holdings Corp.

      23,900       288,804  

Alps Alpine Co. Ltd.

      28,974       275,244  

Amada Co. Ltd.

      14,832       134,911  

Amano Corp.

      2,124       39,248  

Anritsu Corp.

      2,714       24,786  

ASKUL Corp.

      4,366       55,194  

Benesse Holdings, Inc.

      4,130       61,094  

Bic Camera, Inc.(a)

     20,614       176,607  

BIPROGY, Inc.

      2,950       65,404  

Brother Industries Ltd.

      7,888       115,991  

Canon Marketing Japan, Inc.

      2,242       49,542  

Chiba Bank Ltd. (The)

      19,906       145,698  

Chugin Financial Group, Inc.

      23,546       165,080  

Chugoku Electric Power Co., Inc. (The)

      6,944       34,206  

Coca-Cola Bottlers Japan Holdings, Inc.

      14,714       154,901  

COMSYS Holdings Corp.(a)

     6,944       126,324  

Concordia Financial Group Ltd.

      38,160       163,885  

 

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

 

    4    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Japan-(continued)

     

Cosmo Energy Holdings Co. Ltd.

      10,484      $        315,178  

CyberAgent, Inc.

      13,316       113,985  

Dai Nippon Printing Co. Ltd.

      13,224       354,349  

Daicel Corp.

      36,390       252,458  

Daido Steel Co. Ltd.

      5,056       198,209  

Daio Paper Corp.

      11,782       93,502  

Daito Trust Construction Co. Ltd.

      1,566       147,500  

DeNA Co. Ltd.

      6,354       81,585  

Denka Co. Ltd.

      7,534       159,015  

DIC Corp.

      11,782       210,184  

DMG Mori Co. Ltd.

      12,372       198,820  

Dowa Holdings Co. Ltd.(a)

     6,472       210,721  

Ebara Corp.

      5,292       224,944  

Electric Power Development Co. Ltd.

      23,734       378,796  

ENEOS Holdings, Inc.

      88,096       304,163  

EXEO Group, Inc.

      14,360       251,852  

Ezaki Glico Co. Ltd.

      3,540       88,880  

Food & Life Cos. Ltd.

      4,130       104,603  

FP Corp.

      1,180       29,930  

Fuji Media Holdings, Inc.

      6,472       54,308  

Fuji Oil Holdings, Inc.

      2,950       42,339  

Fukuoka Financial Group, Inc.(a)

     8,950       199,743  

Furukawa Electric Co. Ltd.

      8,832       154,381  

Fuyo General Lease Co. Ltd.

      2,714       186,891  

GS Yuasa Corp.

      5,410       97,544  

GungHo Online Entertainment, Inc.(b)

     4,248       76,437  

H.U. Group Holdings, Inc.

      7,534       148,230  

Hachijuni Bank Ltd. (The)

      23,092       104,428  

Hakuhodo DY Holdings, Inc.

      15,540       173,180  

Haseko Corp.

      29,238       335,492  

Hino Motors Ltd.(b)

     23,092       93,917  

Hirogin Holdings, Inc.

      16,602       83,976  

Hitachi Construction Machinery Co. Ltd.

      5,882       131,488  

Horiba Ltd.

      2,124       113,205  

House Foods Group, Inc.

      1,652       32,757  

Hulic Co. Ltd.

      18,962       150,900  

Ibiden Co. Ltd.

      3,540       121,495  

Idemitsu Kosan Co. Ltd.

      14,524       323,609  

IHI Corp.

      13,080       339,447  

Iida Group Holdings Co. Ltd.(a)

     10,130       168,294  

INFRONEER Holdings, Inc.

      33,204       251,806  

Itoham Yonekyu Holdings, Inc.

      19,080       100,012  

Iwatani Corp.

      3,894       160,946  

Iyogin Holdings, Inc.

      11,192       66,635  

Izumi Co. Ltd.

      5,646       123,353  

J. Front Retailing Co. Ltd.

      10,248       95,096  

Japan Aviation Electronics Industry Ltd.

      2,832       46,987  

Japan Post Insurance Co. Ltd.

      9,068       157,241  

Japan Steel Works Ltd. (The)

      2,950       55,420  

JFE Holdings, Inc.(a)

     49,706       615,236  

JTEKT Corp.

      32,750       244,516  

Kajima Corp.

      33,558       400,829  

Kaken Pharmaceutical Co. Ltd.

      1,888       50,244  

Kamigumi Co. Ltd.

      4,288       84,806  

Kandenko Co. Ltd.

      15,068       98,894  

Kaneka Corp.

      8,950       224,711  

Kansai Electric Power Co., Inc. (The)

      33,040       310,959  

Kawasaki Heavy Industries Ltd.(a)

     20,968       457,797  

Kawasaki Kisen Kaisha Ltd.

      23,546       564,385  

Keikyu Corp.

      6,590       61,393  
        Shares      Value  

Japan-(continued)

     

Kewpie Corp.

      5,528      $ 89,323  

Kinden Corp.

      11,782              132,252  

Kobe Steel Ltd.(a)

     47,700       322,868  

Kokuyo Co. Ltd.

      6,236       85,793  

Konica Minolta, Inc.

      41,818       182,358  

K’s Holdings Corp.

      22,148       190,888  

Kuraray Co. Ltd.

      43,570       390,551  

Kusuri no Aoki Holdings Co. Ltd.

      1,180       60,553  

Kyudenko Corp.

      4,366       110,260  

Kyushu Electric Power Co., Inc.

      66,426       353,063  

Kyushu Financial Group, Inc.

      53,346       203,256  

Lawson, Inc.(a)

     4,484       176,443  

Lintec Corp.

      6,472       106,002  

Lixil Corp.

      15,304       243,916  

Maruichi Steel Tube Ltd.

      3,699       80,272  

Matsui Securities Co. Ltd.

      5,056       30,103  

Mazda Motor Corp.

      54,290       489,034  

Mebuki Financial Group, Inc.

      41,582       111,728  

Medipal Holdings Corp.

      20,850       273,224  

MEIJI Holdings Co. Ltd.

      3,422       156,762  

Mitsubishi Chemical Group Corp.

      93,158       542,336  

Mitsubishi Gas Chemical Co., Inc.

      16,248       230,095  

Mitsubishi HC Capital, Inc.

      41,936       218,893  

Mitsubishi Logistics Corp.

      2,832       65,698  

Mitsubishi Materials Corp.

      17,900       278,589  

Mitsubishi Motors Corp.(a)(b)

     33,558       132,296  

Mitsui Chemicals, Inc.

      20,496       494,287  

Mitsui Mining & Smelting Co. Ltd.

      7,888       194,283  

Mitsui OSK Lines Ltd.(a)

     15,540       406,140  

Morinaga & Co. Ltd.

      4,130       119,156  

Morinaga Milk Industry Co. Ltd.

      5,292       179,489  

Nabtesco Corp.

      8,124       209,936  

Nagase & Co. Ltd.

      12,254       181,991  

Nagoya Railroad Co. Ltd.

      4,602       69,833  

NEC Corp.

      6,472       231,626  

NEC Networks & System Integration Corp.

      2,596       31,827  

NGK Insulators Ltd.

      11,900       157,950  

NGK Spark Plug Co. Ltd.

      7,180       144,375  

NH Foods Ltd.(a)

     12,372       341,510  

NHK Spring Co. Ltd.

      22,502       149,832  

Nichirei Corp.

      8,360       164,972  

Nifco, Inc.

      3,186       83,968  

Nihon Kohden Corp.

      5,646       141,342  

Nippon Electric Glass Co. Ltd.

      11,192       208,204  

Nippon Express Holdings, Inc.

      5,982       333,761  

Nippon Kayaku Co. Ltd.

      9,894       86,872  

Nippon Shokubai Co. Ltd.

      4,130       171,306  

Nippon Television Holdings, Inc.

      3,540       29,133  

Nippon Yusen K.K.(a)

     12,962       336,099  

Nipro Corp.

      16,838       128,063  

Nishi-Nippon Railroad Co. Ltd.

      6,472       112,749  

Nisshin Seifun Group, Inc.

      8,242       95,238  

NOK Corp.

      16,366       160,398  

Nomura Real Estate Holdings, Inc.

      2,950       65,729  

NS Solutions Corp.

      1,062       27,678  

NSK Ltd.

      24,844       137,521  

Obayashi Corp.

      40,402       298,681  

Oji Holdings Corp.

      123,194       500,138  

OKUMA Corp.

      1,652       66,461  

Open House Group Co. Ltd.

      2,124       76,406  

 

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

 

    5    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Japan-(continued)

     

Orient Corp.

      8,242      $ 70,673  

Osaka Gas Co. Ltd.

      16,533              268,601  

OSG Corp.

      3,894       55,431  

Paltac Corp.

      4,484       162,947  

Penta-Ocean Construction Co. Ltd.

      13,316       63,444  

Persol Holdings Co. Ltd.

      5,056       101,220  

Rakuten Group, Inc.

      27,322       134,790  

Rengo Co. Ltd.

      30,154       195,692  

Resonac Holdings Corp.

      25,552       419,629  

Ricoh Co. Ltd.

      35,918       278,980  

Ryohin Keikaku Co. Ltd.(a)

     22,856       230,045  

Sankyo Co. Ltd.

      1,196       48,730  

Sankyu, Inc.

      6,944       255,401  

Santen Pharmaceutical Co. Ltd.

      19,198       146,577  

Sanwa Holdings Corp.

      11,310       119,232  

Sapporo Holdings Ltd.(a)

     5,174       121,549  

SCREEN Holdings Co. Ltd.

      2,950       235,411  

Sega Sammy Holdings, Inc.

      4,210       71,952  

Seibu Holdings, Inc.

      5,646       56,827  

Seiko Epson Corp.

      15,658       215,762  

Seino Holdings Co. Ltd.

      19,906       205,322  

Sekisui Chemical Co. Ltd.

      7,032       94,214  

Seven Bank Ltd.

      17,074       34,345  

Sharp Corp.

      25,434       175,516  

Shikoku Electric Power Co., Inc.

      22,266       119,491  

Shimamura Co. Ltd.

      762       71,157  

Shimizu Corp.

      47,818       258,020  

Shinko Electric Industries Co. Ltd.

      2,478       67,946  

Ship Healthcare Holdings, Inc.

      8,478       152,986  

Shizuoka Financial Group, Inc.

      11,900       95,050  

Skylark Holdings Co. Ltd.(b)

     5,646       66,070  

Sohgo Security Services Co. Ltd.

      4,130       108,393  

Sojitz Corp.(a)

     33,144       636,042  

Stanley Electric Co. Ltd.

      3,658       76,267  

Sugi Holdings Co. Ltd.

      1,298       54,316  

Sumitomo Bakelite Co. Ltd.

      2,832       98,860  

Sumitomo Chemical Co. Ltd.

      123,902       433,882  

Sumitomo Electric Industries Ltd.

      17,546       215,823  

Sumitomo Forestry Co. Ltd.

      19,670       377,328  

Sumitomo Heavy Industries Ltd.

      16,130       379,522  

Sumitomo Metal Mining Co. Ltd.

      9,068       336,850  

Sumitomo Pharma Co. Ltd.(a)

     20,732       129,827  

Sumitomo Rubber Industries Ltd.

      25,906       233,166  

Sundrug Co. Ltd.

      3,186       86,190  

Suzuken Co. Ltd.

      10,602       267,745  

Taiheiyo Cement Corp.

      16,484       302,899  

Taisei Corp.

      6,682       217,803  

Taiyo Yuden Co. Ltd.

      4,820       145,964  

Takara Holdings, Inc.(a)

     14,024       110,676  

Takashimaya Co. Ltd.(a)

     12,962       180,420  

Teijin Ltd.

      26,496       275,240  

THK Co. Ltd.

      3,186       71,338  

Toda Corp.

      33,558       174,916  

Toho Gas Co. Ltd.

      4,702       88,265  

Tohoku Electric Power Co., Inc.

      51,812       246,860  

Tokai Carbon Co. Ltd.

      17,310       168,887  

Tokyo Century Corp.

      6,000       200,639  

Tokyo Electric Power Co. Holdings, Inc.(b)

     140,858       467,407  

Tokyo Gas Co. Ltd.

      10,763       207,651  

Tokyo Ohka Kogyo Co. Ltd.

      826       43,600  
        Shares      Value  

Japan-(continued)

     

Tokyo Tatemono Co. Ltd.

      7,416      $ 90,812  

Tokyu Fudosan Holdings Corp.

      30,508       147,372  

Toppan, Inc.

      20,834       376,714  

Toshiba TEC Corp.

      1,062       29,627  

Tosoh Corp.

      30,626       416,396  

Toyo Seikan Group Holdings Ltd.

      20,378       264,945  

Toyo Tire Corp.

      14,124       167,147  

Toyoda Gosei Co. Ltd.

      7,652       124,598  

Toyota Boshoku Corp.

      8,832       137,328  

Toyota Tsusho Corp.

      5,882       240,090  

TS Tech Co. Ltd.

      6,944       88,039  

Tsumura & Co.

      3,658       69,580  

Tsuruha Holdings, Inc.

      3,068       215,998  

UBE Corp.

      13,906       208,465  

Ulvac, Inc.

      2,596       99,483  

Ushio, Inc.

      4,602       52,569  

Welcia Holdings Co. Ltd.

      2,242       49,032  

Yamada Holdings Co. Ltd.(a)

     106,238       373,586  

Yamaha Motor Co. Ltd.

      14,596       373,432  

Yamato Holdings Co. Ltd.

      12,726       214,973  

Yamato Kogyo Co. Ltd.

      1,234       49,373  

Yamazaki Baking Co. Ltd.

      16,366       189,954  

Yaoko Co. Ltd.

      2,124       106,968  

Yokohama Rubber Co. Ltd. (The)

      18,962       359,709  

Zenkoku Hosho Co. Ltd.

      1,062       40,464  

Zeon Corp.

      12,844       121,448  
    

 

 

  
         41,060,260  
    

 

 

  

Jordan-0.36%

     

Hikma Pharmaceuticals PLC

      23,141       485,231  
    

 

 

  

Luxembourg-0.15%

     

RTL Group S.A.(a)

     4,188       202,971  
    

 

 

  

Mexico-0.05%

     

Fresnillo PLC(a)

     6,951       64,242  
    

 

 

  

Netherlands-1.18%

     

Aalberts N.V.

      5,049       246,520  

ASR Nederland N.V.

      10,898       497,659  

CTP N.V.(c)

     2,380       32,913  

Koninklijke Vopak N.V.(a)

     7,051       225,674  

OCI N.V.

      3,917       130,435  

Randstad N.V.(a)

     7,257       447,140  
    

 

 

  
       1,580,341  
    

 

 

  

New Zealand-0.45%

     

Fletcher Building Ltd.

      112,912       332,285  

Kiwi Property Group Ltd., (Acquired 12/06/2022 - 01/26/2023;
Cost $79,750)(d)

      133,858       76,712  

Ryman Healthcare Ltd.

      58,996       192,258  

Ryman Healthcare Ltd., Rts., expiring 06/30/2023(b)

     20,995       2,601  
    

 

 

  
       603,856  
    

 

 

  

Nigeria-0.08%

     

Airtel Africa PLC(c)

     73,183       106,850  
    

 

 

  

Norway-0.41%

     

Leroy Seafood Group ASA

      11,091       55,420  

 

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

 

    6    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Norway-(continued)

     

Schibsted ASA, Class A

      11,202      $ 228,879  

Schibsted ASA, Class B

      13,961       266,359  
    

 

 

  
              550,658  
    

 

 

  

Poland-1.96%

     

Bank Polska Kasa Opieki S.A.

      5,514       111,446  

InPost S.A.(b)

     7,659       63,663  

KGHM Polska Miedz S.A.

      19,635       563,769  

LPP S.A.(a)

     80       169,841  

Polski Koncern Naftowy ORLEN S.A.(a)

     57,170       858,883  

Powszechny Zaklad Ubezpieczen S.A.(a)

     80,504       664,411  

Santander Bank Polska S.A.(a)

     2,907       195,761  
    

 

 

  
       2,627,774  
    

 

 

  

Singapore-1.02%

     

CapitaLand Ascott Trust

      61,016       45,780  

ComfortDelGro Corp. Ltd.

      294,914       265,086  

Frasers Logistics & Commercial Trust(c)

     168,534       159,000  

Jardine Cycle & Carriage Ltd.

      6,118       135,027  

Kenon Holdings Ltd.

      2,353       65,894  

Keppel DC REIT

      58,302       85,754  

Olam Group Ltd.

      50,060       57,269  

Sembcorp Industries Ltd.

      82,202       221,664  

Singapore Post Ltd.

      191,036       75,923  

StarHub Ltd.

      83,618       65,843  

Suntec Real Estate Investment Trust

      86,450       91,193  

UOL Group Ltd.

      20,142       102,195  
    

 

 

  
       1,370,628  
    

 

 

  

South Korea-8.40%

     

Amorepacific Corp., Preference Shares

      982       33,840  

AMOREPACIFIC Group

      3,625       109,579  

BGF retail Co. Ltd.

      706       96,410  

BNK Financial Group, Inc.

      20,757       105,099  

Cheil Worldwide, Inc.

      3,705       55,999  

CJ CheilJedang Corp.

      1,001       242,827  

CJ Corp.

      1,863       122,346  

CJ ENM Co. Ltd.(b)

     1,468       102,840  

CJ Logistics Corp.

      1,185       73,164  

Daewoo Engineering & Construction Co. Ltd.(b)

     25,596       83,273  

DB Insurance Co. Ltd.

      6,390       371,835  

DGB Financial Group, Inc.

      22,187       132,460  

DL E&C Co. Ltd.

      4,378       109,181  

DL Holdings Co. Ltd.

      1,760       78,340  

Doosan Bobcat, Inc.

      1,900       54,419  

E-MART, Inc.

      2,848       241,055  

Fila Holdings Corp.

      7,414       218,512  

GS Engineering & Construction Corp.

      9,055       152,257  

GS Holdings Corp.

      7,296       224,132  

GS Retail Co. Ltd.

      5,619       122,508  

Hana Financial Group, Inc.

      7,762       266,310  

Hankook Tire & Technology Co. Ltd.

      5,800       163,053  

Hanssem Co. Ltd.

      643       21,794  

Hanwha Aerospace Co. Ltd.

      2,538       172,620  

Hanwha Corp.

      6,073       123,686  

Hanwha Corp., Third Preference Shares

      3,334       35,904  

Hanwha Life Insurance Co. Ltd.(b)

     39,744       89,355  

HD Hyundai Co. Ltd.

      5,255       235,894  

Hite Jinro Co. Ltd.(b)

     2,387       43,113  

HL Mando Co. Ltd.

      3,497       125,398  
        Shares      Value  

South Korea-(continued)

     

HMM Co. Ltd.(b)

     20,992      $        357,733  

Hyundai Department Store Co. Ltd.

      2,118       86,913  

Hyundai Doosan Infracore Co. Ltd.

      19,721       127,276  

Hyundai Engineering & Construction Co. Ltd.

      8,231       226,419  

Hyundai Glovis Co. Ltd.

      1,859       222,813  

Hyundai Marine & Fire Insurance Co. Ltd.

      8,607       228,956  

Hyundai Steel Co.

      10,753       284,417  

Hyundai Wia Corp.

      2,275       96,106  

Industrial Bank of Korea

      27,830       218,308  

KCC Corp.

      265       49,165  

Korea Gas Corp.(b)

     3,733       79,131  

Korea Investment Holdings Co. Ltd.(b)

     1,402       65,690  

Korean Air Lines Co. Ltd.

      5,347       91,928  

Kumho Petrochemical Co. Ltd.(b)

     2,504       297,660  

LG Display Co. Ltd.(b)

     31,960       369,294  

LG Innotek Co. Ltd.

      632       132,299  

LG Uplus Corp.

      30,301       253,491  

LOTTE Chemical Corp.

      2,209       297,483  

LOTTE Chilsung Beverage Co. Ltd.

      368       46,554  

LOTTE Corp.

      3,800       88,018  

LOTTE Fine Chemical Co. Ltd.

      2,524       110,821  

LOTTE Shopping Co. Ltd.

      1,629       107,102  

LS Corp.

      2,501       127,389  

Meritz Financial Group, Inc.

      1,508       51,283  

Mirae Asset Securities Co. Ltd.

      5,503       29,735  

NH Investment & Securities Co. Ltd.(b)

     19,631       140,937  

NHN Corp.(b)

     2,504       54,877  

NongShim Co. Ltd.

      145       40,106  

OCI Co. Ltd.

      2,616       179,507  

Ottogi Corp.(b)

     88       29,261  

Pan Ocean Co. Ltd.

      27,160       129,925  

POSCO Holdings, Inc.

      1,819       437,137  

Posco International Corp.

      7,113       121,484  

S-1 Corp.

      1,156       49,271  

Samsung Engineering Co. Ltd.(b)

     9,103       180,581  

Samsung Fire & Marine Insurance Co. Ltd.

      1,747       283,190  

Samsung Life Insurance Co. Ltd.

      3,242       166,847  

Samsung Securities Co. Ltd.

      1,590       40,253  

SD Biosensor, Inc.

      4,813       83,657  

Seegene, Inc.

      4,099       75,583  

Shinsegae, Inc.

      991       152,778  

SK Chemicals Co. Ltd.

      1,808       106,984  

SK Networks Co. Ltd.

      19,316       60,068  

SK Telecom Co. Ltd.

      1,779       60,700  

SK, Inc.

      2,105       284,113  

S-Oil Corp.

      1,209       73,732  

Woori Financial Group, Inc.

      51,841       477,960  
    

 

 

  
       11,282,138  
    

 

 

  

Spain-1.86%

     

ACS Actividades de Construccion y Servicios S.A.

      31,516       957,896  

Bankinter S.A.

      98,425       694,334  

Enagas S.A.

      8,486       152,630  

Fluidra S.A.(a)

     8,905       155,161  

Inmobiliaria Colonial SOCIMI S.A.

      18,054       130,003  

Mapfre S.A.

      142,017       305,435  

Merlin Properties SOCIMI S.A.

      10,657       101,603  
    

 

 

  
       2,497,062  
    

 

 

  

 

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

 

    7    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Sweden-3.74%

     

Alleima AB(b)

     27,556      $ 149,768  

Castellum AB(a)

     23,540       302,133  

Electrolux AB, Class B(a)

     31,518       383,888  

Fastighets AB Balder(a)(b)

     49,527       247,051  

Getinge AB, Class B

      15,782       341,258  

Husqvarna AB, Class B(a)

     46,414       413,554  

Industrivarden AB, Class A

      9,309       257,259  

Industrivarden AB, Class C

      6,482       178,761  

Kinnevik AB, Class B(a)(b)

     34,508       516,697  

Saab AB, Class B

      4,768       276,334  

Sagax AB, Class D

      12,318       32,364  

Securitas AB, Class B(a)

     53,331       462,196  

Skanska AB, Class B

      39,393       719,973  

SKF AB, Class B

      19,189       366,811  

Sweco AB, Class B(a)

     7,882       92,964  

Trelleborg AB, Class B

      10,607       275,026  
    

 

 

  
           5,016,037  
    

 

 

  

Switzerland-1.83%

     

Adecco Group AG(a)

     22,935       818,784  

Baloise Holding AG

      4,833       807,004  

DKSH Holding AG

      3,232       263,974  

Georg Fischer AG

      3,057       208,747  

Helvetia Holding AG

      2,773       357,109  
    

 

 

  
       2,455,618  
    

 

 

  

United Kingdom-11.13%

     

abrdn PLC(a)

     310,639       844,665  

Admiral Group PLC

      9,621       256,365  

B&M European Value Retail S.A.

      87,289       519,717  

Barratt Developments PLC

      136,528       775,364  

Bellway PLC

      17,767       476,868  

British Land Co. PLC (The)

      78,849       426,413  

Centrica PLC

      853,858       1,086,960  

DCC PLC

      13,069       731,292  

Direct Line Insurance Group PLC

      170,980       373,319  

Dr. Martens PLC

      25,205       48,793  

DS Smith PLC

      184,826       754,741  

Howden Joinery Group PLC

      40,584       352,185  

IMI PLC

      12,230       230,533  

Intermediate Capital Group PLC

      11,630       197,400  

International Distributions Services PLC

      125,955       358,650  

ITV PLC(a)

     509,247       545,004  

Investment Abbreviations:

REIT-Real Estate Investment Trust

RSP-Registered Savings Plan Shares

Rts.-Rights

        Shares      Value  

United Kingdom-(continued)

     

J Sainsbury PLC

      248,797      $ 807,835  

JD Sports Fashion PLC

      159,310       349,285  

Johnson Matthey PLC

      25,977       686,218  

Kingfisher PLC

      286,315       995,514  

Land Securities Group PLC

      35,501       295,612  

M&G PLC

      345,263       895,758  

Pepco Group N.V.(b)(c)

     3,959       39,313  

Persimmon PLC

      30,546       537,142  

Schroders PLC

      21,273       128,101  

St James’s Place PLC

      47,251       733,075  

Taylor Wimpey PLC

      369,647       551,336  

Wise PLC, Class A(b)

     46,842       332,203  

WPP PLC

      49,050       608,076  
    

 

 

  
         14,937,737  
    

 

 

  

United States-0.72%

     

JS Global Lifestyle Co. Ltd.(a)(c)

     90,500       85,894  

Signify N.V.(c)

     17,968       625,578  

Sims Ltd.

      23,218       250,043  
    

 

 

  
       961,515  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.71%
(Cost $127,260,152)

 

     133,841,267  
    

 

 

  

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-12.52%

 

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

     4,712,703       4,712,703  

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

     12,097,210       12,099,629  
    

 

 

  

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $16,813,259)

 

     16,812,332  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES-112.23%
(Cost $144,073,411)

 

     150,653,599  

OTHER ASSETS LESS LIABILITIES-(12.23)%

 

     (16,416,836 ) 
    

 

 

  

NET ASSETS-100.00%

      $ 134,236,763  
    

 

 

  

 

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

 

    8    

 

  

 

 

 

Invesco International Developed Dynamic Multifactor ETF (IMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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 $3,770,177, which represented 2.81% of the Fund’s Net Assets.

(d) 

Restricted security. The value of this security at February 28, 2023 represented less than 1% of the Fund’s Net Assets.

(e) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended 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           $ 144,588           $ 3,995,867      $ (4,140,455 )          $ -               $ -                $ -           $ 1,848
Investments Purchased with Cash Collateral from Securities on Loan:                                                                         
Invesco Private Government Fund             900,342             12,508,105        (8,695,744 )                -                     -                       4,712,703                 34,234 *

Invesco Private Prime Fund

             2,315,165             25,734,527        (15,949,675 )            (1,091 )                 703                  12,099,629             93,964 *
         

 

 

            

 

 

       

 

 

           

 

 

                

 

 

                 

 

 

            

 

 

  

Total

                $ 3,360,095               $ 42,238,499      $ (28,785,874 )          $ (1,091 )               $ 703                $ 16,812,332           $ 130,046
         

 

 

            

 

 

       

 

 

           

 

 

                

 

 

                 

 

 

            

 

 

  

 

*

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

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

as of February 28, 2023

     
Industrials      21.77                                   
Financials      17.09     
Materials      16.76     
Consumer Discretionary      14.35     
Consumer Staples      5.67     
Real Estate      4.90     
Utilities      4.41     
Communication Services      4.27     
Health Care      3.76     
Information Technology      3.50     
Energy      3.23     
Money Market Funds Plus Other Assets Less Liabilities      0.29     

 

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

 

    9    

 

  

 

 

 

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)

February 28, 2023

(Unaudited)

Schedule of Investments(a)

 

        Shares      Value  

Common Stocks & Other Equity Interests-99.88%

 

Communication Services-3.95%

     

Altice USA, Inc., Class A(b)(c)

     278,951      $        1,104,646  

Cable One, Inc.(c)

     3,091       2,134,676  

DISH Network Corp., Class A(b)(c)

     334,052       3,811,533  

Fox Corp., Class A

      174,366       6,106,297  

Fox Corp., Class B

      86,032       2,774,532  

Frontier Communications Parent,
Inc.(b)(c)

     324,214       8,870,495  

IAC, Inc.(b)

     99,436       5,164,706  

Interpublic Group of Cos., Inc. (The)

      410,245       14,580,107  

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

     49,097       1,590,252  

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

     107,181       3,453,372  

Lumen Technologies, Inc.(c)

         1,355,401       4,608,363  

New York Times Co. (The), Class A(c)

     69,749       2,685,337  

News Corp., Class A

      354,889       6,086,346  

News Corp., Class B(c)

     115,185       1,988,093  

Nexstar Media Group, Inc., Class A

      51,706       9,612,146  

Omnicom Group, Inc.

      165,318       14,972,851  

Paramount Global, Class B(c)

     373,935       8,009,688  

Playtika Holding Corp.(b)(c)

     82,880       795,648  

World Wrestling Entertainment, Inc., Class A

      16,495       1,385,580  
    

 

 

  
       99,734,668  
    

 

 

  

Consumer Discretionary-17.59%

     

ADT, Inc.

      278,685       2,101,285  

Advance Auto Parts, Inc.

      50,564       7,329,757  

Aramark(c)

     199,226       7,331,517  

AutoNation, Inc.(b)(c)

     53,003       7,235,440  

Bath & Body Works, Inc.

      316,885       12,951,090  

Best Buy Co., Inc.

      179,418       14,911,430  

BorgWarner, Inc.

      316,603       15,918,799  

Boyd Gaming Corp.(c)

     106,699       6,949,306  

Brunswick Corp.

      101,927       8,910,458  

Burlington Stores, Inc.(b)(c)

     39,940       8,557,145  

Capri Holdings Ltd.(b)

     190,843       9,460,088  

Carter’s, Inc.

      52,653       3,969,510  

Carvana Co.(b)(c)

     43,650       411,183  

Columbia Sportswear Co.

      44,796       3,906,211  

Deckers Outdoor Corp.(b)(c)

     11,550       4,808,842  

Dick’s Sporting Goods, Inc.

      74,132       9,535,599  

DraftKings, Inc., Class A(b)(c)

     286,089       5,395,639  

eBay, Inc.

      207,970       9,545,823  

Five Below, Inc.(b)(c)

     20,865       4,262,720  

Gap, Inc. (The)(c)

     263,630       3,429,826  

Gentex Corp.(c)

     83,453       2,382,583  

Grand Canyon Education, Inc.(b)

     42,494       4,814,145  

H&R Block, Inc.

      107,305       3,948,824  

Hanesbrands, Inc.(c)

     464,709       2,639,547  

Harley-Davidson, Inc.

      177,941       8,461,095  

Kohl’s Corp.(c)

     170,551       4,782,250  

Lear Corp.

      79,195       11,059,582  

Leggett & Platt, Inc.(c)

     177,264       6,113,835  

Lennar Corp., Class A

      140,996       13,639,953  

Lennar Corp., Class B

      9,142       746,536  

Leslie’s, Inc.(b)(c)

     84,237       1,062,229  

Lithia Motors, Inc., Class A(c)

     37,791       9,643,507  
        Shares      Value  

Consumer Discretionary-(continued)

     

LKQ Corp.

      182,723      $ 10,468,201  

Macy’s, Inc.

      376,971       7,712,827  

Mattel, Inc.(b)

     318,702       5,733,449  

MGM Resorts International

      196,625       8,456,841  

Mohawk Industries, Inc.(b)

     70,192       7,219,247  

Newell Brands, Inc.

      503,354       7,394,270  

Nordstrom, Inc.(c)

     149,073       2,903,942  

NVR, Inc.(b)

     1,637       8,469,216  

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

     43,588       2,508,054  

Penn Entertainment, Inc.(b)(c)

     219,799       6,710,463  

Penske Automotive Group, Inc.(c)

     36,711       5,291,891  

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

            107,430       1,106,529  

Polaris, Inc.

      74,944       8,524,880  

PulteGroup, Inc.

      314,883       17,214,654  

PVH Corp.

      89,417       7,174,820  

Ralph Lauren Corp.(c)

     60,840       7,190,680  

RH(b)(c)

     23,105       6,909,088  

Service Corp. International(c)

     82,127       5,546,036  

Six Flags Entertainment Corp.(b)

     102,918       2,717,035  

Skechers U.S.A., Inc., Class A(b)(c)

     178,515       7,945,703  

Tapestry, Inc.

      338,101       14,710,775  

Tempur Sealy International, Inc.

      226,638       9,686,508  

Thor Industries, Inc.(c)

     70,595       6,423,439  

Toll Brothers, Inc.

      146,602       8,787,324  

TopBuild Corp.(b)(c)

     25,175       5,226,078  

Travel + Leisure Co.

      111,590       4,681,200  

Under Armour, Inc., Class A(b)(c)

     251,253       2,494,942  

Under Armour, Inc., Class C(b)(c)

     290,751       2,558,609  

Victoria’s Secret & Co.(b)(c)

     110,206       4,368,566  

Wayfair, Inc., Class A(b)(c)

     102,810       4,162,777  

Wendy’s Co. (The)

      173,688       3,814,188  

Whirlpool Corp.

      73,229       10,104,137  

Williams-Sonoma, Inc.(c)

     92,244       11,523,120  

YETI Holdings, Inc.(b)(c)

     48,053       1,873,106  
    

 

 

  
          443,828,349  
    

 

 

  

Consumer Staples-4.98%

     

Albertsons Cos., Inc., Class A(c)

     203,795       4,051,445  

BJ’s Wholesale Club Holdings, Inc.(b)(c)

     178,781       12,836,476  

Bunge Ltd.

      67,025       6,400,887  

Campbell Soup Co.

      93,847       4,928,844  

Casey’s General Stores, Inc.

      49,120       10,214,504  

Conagra Brands, Inc.

      287,003       10,449,779  

Flowers Foods, Inc.

      163,734       4,564,904  

Grocery Outlet Holding Corp.(b)(c)

     78,033       2,110,793  

Ingredion, Inc.

      73,899       7,345,561  

JM Smucker Co. (The)

      48,670       7,197,806  

Molson Coors Beverage Co., Class B

      208,160       11,072,030  

Performance Food Group Co.(b)(c)

     201,594       11,408,204  

Pilgrim’s Pride Corp.(b)(c)

     62,854       1,470,155  

Post Holdings, Inc.(b)

     74,293       6,683,398  

Reynolds Consumer Products, Inc.

      49,729       1,364,564  

Seaboard Corp.

      342       1,350,893  

Spectrum Brands Holdings, Inc.

      53,231       3,407,849  

Tyson Foods, Inc., Class A

      127,907       7,577,211  

US Foods Holding Corp.(b)

     294,981       11,070,637  
    

 

 

  
          125,505,940  
    

 

 

  

 

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

 

    10    

 

  

 

 

 

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Energy-3.22%

     

Antero Midstream Corp.(c)

     399,163      $ 4,207,178  

APA Corp.

      282,103       10,827,113  

Chesapeake Energy Corp.

      169,215       13,674,264  

DT Midstream, Inc.

      72,606       3,644,821  

Enviva, Inc.(c)

     26,936       1,173,332  

HF Sinclair Corp.

      179,291       8,914,349  

Ovintiv, Inc.

      297,184       12,710,560  

PDC Energy, Inc.

      125,354       8,412,507  

Range Resources Corp.

      147,002       3,960,234  

Southwestern Energy Co.(b)

     730,940       3,873,982  

Targa Resources Corp.

      126,640       9,384,024  

Vitesse Energy, Inc.(b)

     30,260       526,221  
    

 

 

  
            81,308,585  
    

 

 

  

Financials-21.02%

     

Affiliated Managers Group, Inc.(c)

     51,137       8,151,749  

AGNC Investment Corp.

             696,299       7,568,770  

Ally Financial, Inc.(c)

     342,438       10,290,262  

American Financial Group, Inc.

      57,376       7,694,695  

Annaly Capital Management, Inc.

      515,847       10,667,716  

Arch Capital Group Ltd.(b)

     213,414       14,938,980  

Assurant, Inc.

      69,132       8,806,726  

Assured Guaranty Ltd.

      82,084       5,122,862  

AXIS Capital Holdings Ltd.

      103,754       6,299,943  

Bank of Hawaii Corp.

      43,707       3,271,906  

Bank OZK(c)

     131,985       6,075,270  

Brighthouse Financial, Inc.(b)(c)

     99,868       5,775,366  

Carlyle Group, Inc. (The)

      200,566       6,899,470  

Cincinnati Financial Corp.

      58,810       7,098,367  

Citizens Financial Group, Inc.

      144,430       6,031,397  

CNA Financial Corp.

      27,062       1,184,774  

Coinbase Global, Inc., Class A(b)(c)

     175,275       11,363,078  

Comerica, Inc.

      58,160       4,077,016  

Commerce Bancshares, Inc.

      40,823       2,700,441  

Credit Acceptance Corp.(b)(c)

     7,201       3,199,692  

Cullen/Frost Bankers, Inc.

      21,334       2,812,248  

East West Bancorp, Inc.

      73,779       5,622,698  

Erie Indemnity Co., Class A(c)

     7,193       1,693,160  

Evercore, Inc., Class A

      50,335       6,602,945  

Everest Re Group Ltd.

      51,704       19,852,785  

F&G Annuities & Life, Inc.

      24,250       493,973  

F.N.B. Corp.

      448,571       6,401,108  

Fidelity National Financial, Inc.

      355,256       14,160,504  

First American Financial Corp.

      137,607       7,813,326  

First Hawaiian, Inc.(c)

     154,361       4,221,773  

First Horizon Corp.

      158,975       3,937,811  

Franklin Resources, Inc.

      200,937       5,921,613  

Globe Life, Inc.

      83,158       10,119,497  

Hanover Insurance Group, Inc. (The)

      47,326       6,601,031  

Hartford Financial Services Group, Inc. (The)

      126,236       9,881,754  

Interactive Brokers Group, Inc., Class A

      123,994       10,677,123  

Invesco Ltd.(d)

     493,617       8,717,276  

Janus Henderson Group PLC(c)

     183,476       5,038,251  

Jefferies Financial Group, Inc.

      277,619       10,491,222  

Kemper Corp.

      84,525       5,206,740  

KeyCorp

      308,989       5,651,409  

Lazard Ltd., Class A

      125,764       4,698,543  

Lincoln National Corp.

      228,604       7,251,319  

Loews Corp.

      142,198       8,686,876  
        Shares      Value  

Financials-(continued)

     

Markel Corp.(b)(c)

     6,907      $        9,185,343  

MGIC Investment Corp.

             410,442       5,647,682  

New York Community Bancorp, Inc.

      495,762       4,402,367  

Old Republic International Corp.

      374,123       9,865,624  

OneMain Holdings, Inc.

      156,917       6,761,554  

PacWest Bancorp.

      154,832       4,296,588  

Pinnacle Financial Partners, Inc.

      58,063       4,301,888  

Popular, Inc.

      99,833       7,128,076  

Primerica, Inc.

      50,980       9,785,101  

Principal Financial Group, Inc.(c)

     138,769       12,428,152  

Prosperity Bancshares, Inc.

      59,427       4,367,290  

Raymond James Financial, Inc.

      94,106       10,206,737  

Regions Financial Corp.

      340,819       7,947,899  

Reinsurance Group of America, Inc.

      89,017       12,860,286  

RenaissanceRe Holdings Ltd. (Bermuda)

      43,850       9,423,365  

Rithm Capital Corp.(c)

     568,791       5,175,998  

Rocket Cos., Inc., Class A(c)

     157,580       1,238,579  

Ryan Specialty Holdings, Inc.,
Class A(b)(c)

     29,922       1,260,315  

SEI Investments Co.

      48,167       2,902,062  

SLM Corp.

      359,662       5,171,940  

Stifel Financial Corp.

      136,818       9,143,547  

Synchrony Financial

      491,093       17,536,931  

Synovus Financial Corp.(c)

     186,451       7,795,516  

Umpqua Holdings Corp.

      288,191       5,089,453  

Unum Group

      265,212       11,815,195  

Upstart Holdings, Inc.(b)(c)

     24,068       445,499  

Virtu Financial, Inc., Class A

      132,667       2,438,419  

Voya Financial, Inc.

      134,666       10,031,270  

Willis Towers Watson PLC

      35,831       8,397,353  

Wintrust Financial Corp.(c)

     80,024       7,372,611  

Zions Bancorporation N.A.

      117,541       5,949,925  
    

 

 

  
       530,146,030  
    

 

 

  

Health Care-7.52%

     

Acadia Healthcare Co., Inc.(b)

     39,242       2,845,437  

Amedisys, Inc.(b)(c)

     32,231       2,963,640  

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

     20,956       10,013,615  

Cardinal Health, Inc.

      324,424       24,562,141  

Cooper Cos., Inc. (The)

      22,437       7,336,226  

DaVita, Inc.(b)

     77,781       6,398,265  

DENTSPLY SIRONA, Inc.

      142,923       5,441,079  

Doximity, Inc., Class A(b)(c)

     70,784       2,380,466  

Encompass Health Corp.(c)

     129,750       7,333,470  

Enhabit, Inc.(b)

     65,309       1,002,493  

Enovis Corp.(b)(c)

     67,380       3,882,436  

Envista Holdings Corp.(b)(c)

     80,993       3,131,189  

Exelixis, Inc.(b)(c)

     156,860       2,679,169  

Henry Schein, Inc.(b)

     108,128       8,467,504  

Hologic, Inc.(b)

     111,990       8,918,883  

ICU Medical, Inc.(b)(c)

     9,723       1,659,133  

Integra LifeSciences Holdings Corp.(b)(c)

     34,564       1,922,450  

Laboratory Corp. of America Holdings

      42,943       10,278,836  

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

     45,206       666,788  

Molina Healthcare, Inc.(b)

     49,999       13,766,225  

Organon & Co.

      336,340       8,236,967  

Perrigo Co. PLC

      52,581       1,981,778  

Premier, Inc., Class A

      130,574       4,203,177  

Quest Diagnostics, Inc.

      95,081       13,155,407  

QuidelOrtho Corp.(b)(c)

     65,855       5,725,434  

 

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

 

    11    

 

  

 

 

 

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)–(continued)

February 28, 2023

(Unaudited)

    

 

        Shares      Value  

Health Care-(continued)

     

Syneos Health, Inc.(b)(c)

     67,315      $ 2,707,409  

Tenet Healthcare Corp.(b)

     141,760       8,297,213  

Universal Health Services, Inc., Class B

      86,168       11,509,460  

Viatris, Inc.

             722,102       8,231,963  
    

 

 

  
          189,698,253  
    

 

 

  

Industrials-18.72%

     

A.O. Smith Corp.

      103,054       6,763,434  

Acuity Brands, Inc.(c)

     30,388       5,894,056  

AECOM

      136,877       11,820,698  

AGCO Corp.(c)

     82,246       11,581,059  

Air Lease Corp.

      138,400       5,989,952  

Alaska Air Group, Inc.(b)

     164,892       7,886,784  

Allison Transmission Holdings, Inc.

      129,126       6,133,485  

American Airlines Group, Inc.(b)(c)

     248,328       3,968,281  

Armstrong World Industries, Inc.

      26,494       2,089,052  

Avis Budget Group, Inc.(b)(c)

     39,703       8,721,161  

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

     71,789       1,729,397  

Booz Allen Hamilton Holding Corp.

      71,189       6,743,734  

Builders FirstSource, Inc.(b)

     229,061       19,419,792  

BWX Technologies, Inc.

      104,104       6,361,795  

C.H. Robinson Worldwide, Inc.

      106,310       10,626,748  

CACI International, Inc., Class A(b)

     30,849       9,038,757  

Clean Harbors, Inc.(b)

     67,926       8,970,987  

Copa Holdings S.A., Class A
(Panama)(b)(c)

     41,111       3,796,601  

Core & Main, Inc., Class A(b)(c)

     33,792       787,691  

Crane Holdings Co.

      62,552       7,492,479  

Curtiss-Wright Corp.

      31,328       5,475,821  

Donaldson Co., Inc.

      77,479       4,900,547  

ESAB Corp.

      67,457       3,956,353  

Expeditors International of Washington, Inc.

      71,894       7,517,237  

Flowserve Corp.(c)

     151,891       5,269,099  

Fortune Brands Innovations, Inc.

      154,688       9,582,922  

FTI Consulting, Inc.(b)(c)

     22,632       4,157,725  

Gates Industrial Corp. PLC(b)

     147,608       2,072,416  

GXO Logistics, Inc.(b)

     140,929       6,985,851  

Hayward Holdings, Inc.(b)(c)

     45,191       556,301  

Hertz Global Holdings, Inc.(b)(c)

     310,717       5,751,372  

Huntington Ingalls Industries, Inc.

      52,361       11,268,087  

IAA, Inc.(b)

     85,299       3,489,582  

JetBlue Airways Corp.(b)

     427,584       3,548,947  

KBR, Inc.

      183,335       10,103,592  

Knight-Swift Transportation Holdings, Inc.

      211,829       12,040,360  

Landstar System, Inc.(c)

     48,854       8,832,315  

Leidos Holdings, Inc.

      167,731       16,281,648  

Lennox International, Inc.(c)

     27,200       6,931,376  

Lincoln Electric Holdings, Inc.(c)

     21,815       3,663,393  

ManpowerGroup, Inc.

      69,969       5,938,969  

MasTec, Inc.(b)

     78,562       7,677,079  

MasterBrand, Inc.(b)

     156,548       1,524,777  

MDU Resources Group, Inc.

      267,576       8,522,296  

Middleby Corp. (The)(b)(c)

     27,959       4,347,345  

MSC Industrial Direct Co., Inc., Class A(c)

     44,743       3,781,678  

nVent Electric PLC

      110,048       5,044,600  

Oshkosh Corp.

      30,876       2,753,830  

Owens Corning

      129,206       12,635,055  

Pentair PLC(c)

     122,849       6,872,173  

Robert Half International, Inc.(c)

     72,086       5,811,573  
        Shares      Value  

Industrials-(continued)

     

RXO, Inc.(b)

     136,499      $ 2,807,784  

Ryder System, Inc.(c)

     65,895       6,451,779  

Schneider National, Inc., Class B

      71,955       2,019,057  

Science Applications International
Corp.(c)

     73,521       7,840,279  

Sensata Technologies Holding PLC

      93,093       4,708,644  

SiteOne Landscape Supply, Inc.(b)(c)

     23,072       3,422,500  

Snap-on, Inc.(c)

     28,035       6,971,744  

Stanley Black & Decker, Inc.

      68,790       5,889,112  

Stericycle, Inc.(b)(c)

     45,409       2,165,101  

Textron, Inc.

      162,905       11,815,500  

Timken Co. (The)(c)

     83,028       7,094,743  

Toro Co. (The)

      56,998       6,294,859  

U-Haul Holding Co.(c)

     11,927       765,833  

U-Haul Holding Co., Series N(c)

     108,055       6,011,100  

United Rentals, Inc.(c)

     30,858       14,457,899  

Univar Solutions, Inc.(b)

            223,264       7,758,424  

Valmont Industries, Inc.

      10,467       3,321,493  

Vertiv Holdings Co.

      404,759       6,577,334  

Watsco, Inc.(c)

     16,265       4,956,108  

WESCO International, Inc.(b)(c)

     59,450       9,843,731  

Woodward, Inc.(c)

     34,216       3,387,384  

XPO, Inc.(b)

     136,499       4,553,607  
    

 

 

  
          472,224,277  
    

 

 

  

Information Technology-9.55%

     

Amdocs Ltd.

      139,614       12,790,039  

Arrow Electronics, Inc.(b)(c)

     87,117       10,278,935  

Avnet, Inc.

      129,541       5,791,778  

Ciena Corp.(b)(c)

     115,771       5,582,478  

Cirrus Logic, Inc.(b)(c)

     73,321       7,533,733  

Coherent Corp.(b)(c)

     140,390       6,055,021  

Concentrix Corp.

      57,755       7,903,194  

Dell Technologies, Inc., Class C(c)

     354,804       14,419,235  

Dolby Laboratories, Inc., Class A

      49,893       4,105,196  

Dropbox, Inc., Class A(b)(c)

     371,034       7,569,094  

DXC Technology Co.(b)

     323,764       8,981,213  

Euronet Worldwide, Inc.(b)(c)

     23,276       2,533,593  

First Solar, Inc.(b)

     49,825       8,427,400  

Genpact Ltd.

      125,362       5,983,528  

Hewlett Packard Enterprise Co.

      1,729,371       26,995,481  

IPG Photonics Corp.(b)(c)

     43,725       5,388,669  

Jabil, Inc.

      183,573       15,242,066  

Juniper Networks, Inc.

      128,322       3,949,751  

Littelfuse, Inc.

      11,126       2,878,630  

Lumentum Holdings, Inc.(b)(c)

     81,161       4,367,273  

MKS Instruments, Inc.

      61,041       5,916,704  

NCR Corp.(b)

     169,492       4,327,131  

Qorvo, Inc.(b)

     132,985       13,416,857  

Skyworks Solutions, Inc.

      122,725       13,692,428  

TD SYNNEX Corp.

      56,690       5,471,719  

Teradata Corp.(b)(c)

     138,820       5,658,303  

Viasat, Inc.(b)(c)

     94,239       2,993,031  

Vontier Corp.

      214,485       5,613,072  

Western Digital Corp.(b)

     266,749       10,264,501  

Western Union Co. (The)(c)

     513,125       6,650,100  
    

 

 

  
          240,780,153  
    

 

 

  

Materials-9.59%

     

Alcoa Corp.

      157,237       7,695,179  

AptarGroup, Inc.

      31,931       3,726,986  

Ardagh Group S.A.(b)(e)

     16,236     <