LOGO  

 

Invesco Semi-Annual Report to Shareholders

 

 

October 31, 2022

 

 

PYZ

 

 

Invesco DWA Basic Materials Momentum ETF

 

 

PEZ

 

 

Invesco DWA Consumer Cyclicals Momentum ETF

 

 

PSL

 

 

Invesco DWA Consumer Staples Momentum ETF

 

 

PXI

 

 

Invesco DWA Energy Momentum ETF

 

 

PFI

 

 

Invesco DWA Financial Momentum ETF

 

 

PTH

 

 

Invesco DWA Healthcare Momentum ETF

 

 

PRN

 

 

Invesco DWA Industrials Momentum ETF

 

 

PTF

 

 

Invesco DWA Technology Momentum ETF

 

 

PUI

 

 

Invesco DWA Utilities Momentum ETF

 

 

PNQI

 

 

Invesco NASDAQ Internet ETF

 


 

Table of Contents

 

Schedules of Investments   

Invesco DWA Basic Materials Momentum ETF (PYZ)

     3  

Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)

     5  

Invesco DWA Consumer Staples Momentum ETF (PSL)

     7  

Invesco DWA Energy Momentum ETF (PXI)

     9  

Invesco DWA Financial Momentum ETF (PFI)

     11  

Invesco DWA Healthcare Momentum ETF (PTH)

     13  

Invesco DWA Industrials Momentum ETF (PRN)

     15  

Invesco DWA Technology Momentum ETF (PTF)

     17  

Invesco DWA Utilities Momentum ETF (PUI)

     19  

Invesco NASDAQ Internet ETF (PNQI)

     21  
Statements of Assets and Liabilities      24  
Statements of Operations      26  
Statements of Changes in Net Assets      28  
Financial Highlights      32  
Notes to Financial Statements      42  
Fund Expenses      53  

 

    2    

 

 

 

 


 

Invesco DWA Basic Materials Momentum ETF (PYZ)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares          Value  

Common Stocks & Other Equity Interests-99.99%

 

Aluminum-2.86%

     

Alcoa Corp.

     81,104      $     3,165,489  
     

 

 

 

Commodity Chemicals-18.90%

     

AdvanSix, Inc.

     43,476        1,581,657  

Cabot Corp.

     30,475        2,239,303  

Dow, Inc.

     40,187        1,878,340  

LyondellBasell Industries N.V., Class A

     34,124        2,608,780  

Mativ Holdings, Inc., Class A

     52,817        1,253,876  

Olin Corp.

     77,946        4,127,241  

Orion Engineered Carbons S.A. (Germany)

     85,740        1,368,410  

PureCycle Technologies, Inc.(b)(c)

     183,688        1,519,100  

Valvoline, Inc.

     71,001        2,084,589  

Westlake Corp.(c)

     23,333        2,255,134  
     

 

 

 
        20,916,430  
     

 

 

 

Construction Materials-1.83%

     

Summit Materials, Inc., Class A(b)(c)

     77,004        2,029,055  
     

 

 

 

Diversified Chemicals-4.09%

     

Chemours Co. (The)(c)

     52,833        1,512,609  

LSB Industries, Inc.(b)

     170,684        3,009,159  
     

 

 

 
        4,521,768  
     

 

 

 

Diversified Metals & Mining-3.46%

     

Materion Corp.(c)

     19,874        1,703,400  

Piedmont Lithium, Inc.(b)(c)

     34,176        2,126,431  
     

 

 

 
        3,829,831  
     

 

 

 

Fertilizers & Agricultural Chemicals-11.73%

 

  

CF Industries Holdings, Inc.

     33,946        3,607,102  

Corteva, Inc.

     55,018        3,594,876  

FMC Corp.

     17,753        2,110,832  

Mosaic Co. (The)

     68,359        3,674,296  
     

 

 

 
        12,987,106  
     

 

 

 

Forest Products-2.21%

     

Louisiana-Pacific Corp.(c)

     43,254        2,450,339  
     

 

 

 

Industrial Gases-3.12%

     

Air Products and Chemicals, Inc.

     13,804        3,456,522  
     

 

 

 

Metal & Glass Containers-1.71%

     

O-I Glass, Inc.(b)(c)

     116,029        1,892,433  
     

 

 

 

Paper Packaging-2.85%

     

Avery Dennison Corp.

     18,616        3,156,343  
     

 

 

 

Paper Products-2.43%

     

Sylvamo Corp.

     55,940        2,694,630  
     

 

 

 

Specialty Chemicals-19.09%

     

Albemarle Corp.

     11,940        3,341,648  

Ashland, Inc.

     19,131        2,007,225  

Avient Corp.

     46,990        1,620,685  

Celanese Corp.

     19,137        1,839,448  
         Shares          Value  

Specialty Chemicals-(continued)

     

Element Solutions, Inc.

     87,770      $     1,509,644  

H.B. Fuller Co.(c)

     24,837        1,731,387  

Innospec, Inc.(c)

     14,553        1,455,154  

Livent Corp.(b)(c)

     112,990        3,567,094  

Quaker Chemical Corp.(c)

     8,257        1,342,919  

RPM International, Inc.

     28,673        2,711,606  
     

 

 

 
        21,126,810  
     

 

 

 

Steel-25.71%

     

ATI, Inc.(b)(c)

     81,526        2,426,214  

Carpenter Technology Corp.

     45,987        1,719,914  

Cleveland-Cliffs, Inc.(b)(c)

     177,826        2,309,960  

Commercial Metals Co.

     58,423        2,658,246  

Nucor Corp.

     31,719        4,167,242  

Reliance Steel & Aluminum Co.

     20,318        4,093,671  

Ryerson Holding Corp.(c)

     64,451        2,162,331  

Steel Dynamics, Inc.

     41,938        3,944,269  

United States Steel Corp.

     183,456        3,735,164  

Worthington Industries, Inc.(c)

     26,146        1,243,504  
     

 

 

 
        28,460,515  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $104,719,981)

        110,687,271  
     

 

 

 

Money Market Funds-0.09%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $99,228)

     99,228        99,228  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.08%
(Cost $104,819,209)

        110,786,499  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-17.35%

 

  

Invesco Private Government Fund,
3.18%(d)(e)(f)

     5,379,068        5,379,068  

Invesco Private Prime Fund,
3.28%(d)(e)(f)

     13,827,846        13,827,846  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $19,206,305)

        19,206,914  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-117.43%
(Cost $124,025,514)

 

     129,993,413  

OTHER ASSETS LESS LIABILITIES-(17.43)%

 

     (19,297,766
     

 

 

 

NET ASSETS-100.00%.

      $ 110,695,647  
     

 

 

 

 

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

 

    3    

 

 

 

 


 

Invesco DWA Basic Materials Momentum ETF (PYZ)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at October 31, 2022.

(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, 2022.

 

    Value
April 30,  2022
  Purchases
at Cost
  Proceeds
from Sales
  Change  in
Unrealized
Appreciation
  Realized
Gain

(Loss)
  Value
October 31,  2022
  Dividend
Income
Investments in Affiliated Money Market Funds:                                                                                    
Invesco Government & Agency Portfolio, Institutional Class         $ 273,111             $ 2,155,640             $ (2,329,523 )                  $ -                    $ -                    $ 99,228                  $ 1,802    
Investments Purchased with Cash Collateral from Securities on Loan:                                                                                    
Invesco Private Government Fund           9,705,723               41,709,752               (46,036,407 )               -               -               5,379,068               61,143 *    
Invesco Private Prime Fund           22,636,353               92,384,137               (101,193,114 )               609               (139 )               13,827,846               167,463 *    
       

 

 

             

 

 

             

 

 

             

 

 

             

 

 

             

 

 

             

 

 

     
Total         $ 32,615,187             $ 136,249,529             $ (149,559,044 )             $ 609             $ (139 )             $ 19,306,142             $ 230,408    
       

 

 

             

 

 

             

 

 

             

 

 

             

 

 

             

 

 

             

 

 

     

 

*

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, 2022.

(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, 2022

 

     

Steel

   25.71   

Specialty Chemicals

   19.09   

Commodity Chemicals

   18.90   

Fertilizers & Agricultural Chemicals

   11.73   

Diversified Chemicals

   4.09   

Diversified Metals & Mining

   3.46   

Industrial Gases

   3.12   

Sub-Industry Types Each Less Than 3%

   13.89   

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.

 

    4    

 

 

 

 


 

Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares          Value  

Common Stocks & Other Equity Interests-99.99%

 

Advertising-2.56%

     

Interpublic Group of Cos., Inc. (The)

     21,427      $     638,310  
     

 

 

 

Apparel Retail-4.01%

     

Designer Brands, Inc., Class A(b)

     34,845        530,689  

Foot Locker, Inc.(b)

     14,771        468,241  
     

 

 

 
        998,930  
     

 

 

 

Apparel, Accessories & Luxury Goods-2.94%

 

  

Tapestry, Inc.

     23,093        731,586  
     

 

 

 

Auto Parts & Equipment-1.40%

     

Visteon Corp.(c)

     2,665        347,703  
     

 

 

 

Automobile Manufacturers-2.85%

     

Ford Motor Co.

     52,966        708,155  
     

 

 

 

Automotive Retail-23.19%

     

AutoNation, Inc.(b)(c)

     8,206        872,380  

AutoZone, Inc.(c)

     323        818,120  

Murphy USA, Inc.

     3,022        950,449  

O’Reilly Automotive, Inc.(c)

     2,240        1,875,261  

Penske Automotive Group, Inc.

     4,867        543,255  

Sonic Automotive, Inc., Class A(b)

     6,690        312,758  

TravelCenters of America, Inc.(c)

     6,285        399,600  
     

 

 

 
        5,771,823  
     

 

 

 

Broadcasting-3.04%

     

Nexstar Media Group, Inc., Class A(b)

     4,411        755,604  
     

 

 

 

Casinos & Gaming-1.56%

     

Churchill Downs, Inc.

     1,868        388,376  
     

 

 

 

Consumer Electronics-0.99%

     

Vizio Holding Corp., Class A(b)(c)

     22,084        247,341  
     

 

 

 

Distributors-3.16%

     

LKQ Corp

     14,144        786,972  
     

 

 

 

Footwear-2.84%

     

Deckers Outdoor Corp.(c)

     2,018        706,159  
     

 

 

 

General Merchandise Stores-2.83%

     

Dollar General Corp.

     2,765        705,213  
     

 

 

 

Health Care Distributors-3.49%

     

McKesson Corp.

     2,230        868,295  
     

 

 

 

Health Care Services-2.29%

     

CVS Health Corp.

     6,011        569,242  
     

 

 

 

Hotels, Resorts & Cruise Lines-4.63%

     

Hyatt Hotels Corp., Class A(b)(c)

     6,515        613,778  

Target Hospitality Corp.(b)(c)

     44,154        537,354  
     

 

 

 
        1,151,132  
     

 

 

 

Hypermarkets & Super Centers-3.93%

     

BJ’s Wholesale Club Holdings, Inc.(c)

     12,622        976,943  
     

 

 

 

Internet & Direct Marketing Retail-3.19%

     

Poshmark, Inc., Class A(c)

     22,138        395,385  

Xometry, Inc., Class A(c)

     6,651        399,459  
     

 

 

 
        794,844  
     

 

 

 

Leisure Facilities-1.17%

     

Bowlero Corp.(b)(c)

     19,930        290,181  
     

 

 

 
         Shares          Value  

Leisure Products-2.48%

     

Acushnet Holdings Corp.(b)

     5,057      $     235,505  

Topgolf Callaway Brands Corp.(b)(c)

     20,352        380,989  
     

 

 

 
        616,494  
     

 

 

 

Movies & Entertainment-2.62%

     

Liberty Media Corp.-Liberty Formula One, Class A(c)

     4,294        223,374  

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

     5,424        427,899  
     

 

 

 
        651,273  
     

 

 

 

Publishing-0.94%

     

Scholastic Corp.

     6,149        234,523  
     

 

 

 

Restaurants-12.27%

     

Chipotle Mexican Grill, Inc.(c)

     766        1,147,721  

Jack in the Box, Inc.(b)

     5,658        499,205  

Kura Sushi USA, Inc., Class A(b)(c)

     3,545        280,161  

Texas Roadhouse, Inc.

     6,455        638,722  

Yum! Brands, Inc.

     4,126        487,900  
     

 

 

 
        3,053,709  
     

 

 

 

Specialized REITs-1.42%

     

Lamar Advertising Co., Class A

     3,836        353,794  
     

 

 

 

Specialty Stores-10.19%

     

Academy Sports & Outdoors, Inc.(b)

     12,843        565,478  

Dick’s Sporting Goods, Inc.(b)

     11,512        1,309,605  

Ulta Beauty, Inc.(c)

     1,576        660,927  
     

 

 

 
        2,536,010  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $22,776,924)

        24,882,612  
     

 

 

 

Money Market Funds-0.43%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $105,560)

     105,560        105,560  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.42%
(Cost $22,882,484)

        24,988,172  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-27.35%

 

  

Invesco Private Government Fund,
3.18%(d)(e)(f)

     1,901,458        1,901,458  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     4,905,452        4,905,452  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $6,806,878)

        6,806,910  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-127.77%
(Cost $29,689,362)

 

     31,795,082  

OTHER ASSETS LESS LIABILITIES-(27.77)%

 

     (6,910,666
     

 

 

 

NET ASSETS-100.00%

      $ 24,884,416  
     

 

 

 

 

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

 

    5    

 

 

 

 


 

Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

All or a portion of this security was out on loan at October 31, 2022.

(c) 

Non-income producing security.

(d) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2022.

 

    Value
April 30,  2022
    Purchases
at Cost
    Proceeds
from Sales
    Change  in
Unrealized
Appreciation
    Realized
Gain
    Value
October 31, 2022
    Dividend
Income
 
Investments in Affiliated Money Market Funds:                                          

Invesco Government & Agency Portfolio, Institutional Class

    $ 140,012         $ 707,969         $ (742,421               $ -                 $ -                $ 105,560                $ 1,366    
Investments Purchased with Cash Collateral from Securities on Loan:                                          
Invesco Private Government Fund       1,359,112           13,990,711           (13,448,365)               -               -           1,901,458           13,109*    
Invesco Private Prime Fund       3,168,189           29,112,867           (27,375,864)           32           228           4,905,452           35,044*    
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   
Total     $ 4,667,313         $ 43,811,547         $ (41,566,650       $ 32         $ 228         $ 6,912,470         $ 49,519    
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   

 

*

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, 2022.

(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, 2022

 

     

Automotive Retail

     23.19     

Restaurants

     12.27     

Specialty Stores

     10.19     

Hotels, Resorts & Cruise Lines

     4.63     

Apparel Retail

     4.01     

Hypermarkets & Super Centers

     3.93     

Health Care Distributors

     3.49     

Internet & Direct Marketing Retail

     3.19     

Distributors

     3.16     

Broadcasting

     3.04     

Sub-Industry Types Each Less Than 3%

     28.89     

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.

 

    6    

 

 

 

 


 

Invesco DWA Consumer Staples Momentum ETF (PSL)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares          Value  

Common Stocks & Other Equity Interests-99.59%

 

Agricultural Products-6.26%

     

Archer-Daniels-Midland Co.

     45,727      $ 4,434,604  

Bunge Ltd.

     30,935        3,053,285  
     

 

 

 
        7,487,889  
     

 

 

 

Distillers & Vintners-5.09%

     

Brown-Forman Corp., Class B

     47,162        3,207,016  

MGP Ingredients, Inc.(b)

     25,734        2,883,495  
     

 

 

 
        6,090,511  
     

 

 

 

Education Services-5.20%

     

Adtalem Global Education, Inc.(c)

     52,011        2,168,859  

Laureate Education, Inc., Class A

     168,394        2,128,500  

Stride, Inc.(b)(c)

     57,322        1,920,860  
     

 

 

 
        6,218,219  
     

 

 

 

Food Distributors-14.48%

     

Andersons, Inc. (The)

     62,725        2,212,311  

Chefs’ Warehouse, Inc. (The)(b)(c)

     62,038        2,272,452  

Performance Food Group Co.(c)

     74,239        3,863,398  

SpartanNash Co.

     73,879        2,638,219  

Sysco Corp.

     49,179        4,256,934  

US Foods Holding Corp.(c)

     69,524        2,069,034  
     

 

 

 
        17,312,348  
     

 

 

 

Food Retail-10.65%

     

Albertsons Cos., Inc., Class A

     94,442        1,937,005  

Casey’s General Stores, Inc.

     14,825        3,449,926  

Ingles Markets, Inc., Class A

     24,053        2,269,882  

Kroger Co. (The)

     54,320        2,568,793  

Sprouts Farmers Market, Inc.(b)(c)

     85,181        2,512,839  
     

 

 

 
        12,738,445  
     

 

 

 

Household Products-6.22%

     

Church & Dwight Co., Inc.

     51,364        3,807,613  

Procter & Gamble Co. (The)

     26,962        3,630,973  
     

 

 

 
        7,438,586  
     

 

 

 

Hypermarkets & Super Centers-3.60%

     

Costco Wholesale Corp.

     8,583        4,304,374  
     

 

 

 

Packaged Foods & Meats-19.34%

     

Cal-Maine Foods, Inc.(b)

     30,884        1,745,255  

General Mills, Inc.

     43,346        3,536,167  

Hershey Co. (The)

     15,976        3,814,589  

Kraft Heinz Co. (The)

     85,556        3,291,339  

Lamb Weston Holdings, Inc.

     42,091        3,629,086  

Mondelez International, Inc., Class A

     48,888        3,005,634  
         Shares          Value  

Packaged Foods & Meats-(continued)

     

Post Holdings, Inc.(c)

     25,724      $ 2,325,964  

Utz Brands, Inc.(b)

     109,522        1,775,352  
     

 

 

 
        23,123,386  
     

 

 

 

Personal Products-6.45%

     

elf Beauty, Inc.(c)

     63,540        2,748,741  

Estee Lauder Cos., Inc. (The), Class A

     14,998        3,006,949  

Inter Parfums, Inc.

     24,273        1,963,200  
     

 

 

 
        7,718,890  
     

 

 

 

Soft Drinks-13.66%

     

Celsius Holdings, Inc.(b)(c)

     36,263        3,302,834  

Keurig Dr Pepper, Inc.

     107,002        4,155,958  

Monster Beverage Corp.(c)

     33,530        3,142,431  

National Beverage Corp.(b)

     39,666        1,880,962  

PepsiCo, Inc.

     21,236        3,856,033  
     

 

 

 
        16,338,218  
     

 

 

 

Specialized Consumer Services-6.26%

     

H&R Block, Inc.(b)

     78,885        3,246,118  

Service Corp. International

     69,996        4,242,457  
     

 

 

 
        7,488,575  
     

 

 

 

Tobacco-2.38%

     

Philip Morris International, Inc.

     30,933        2,841,196  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.59%
(Cost $109,268,713)

        119,100,637  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-13.84%

 

  

Invesco Private Government Fund,
3.18%(d)(e)(f)

     4,633,372        4,633,372  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     11,911,172        11,911,172  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $16,544,568)

        16,544,544  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-113.43%
(Cost $125,813,281)

 

     135,645,181  

OTHER ASSETS LESS LIABILITIES-(13.43)%

 

     (16,056,919
     

 

 

 

NET ASSETS-100.00%.

      $ 119,588,262  
     

 

 

 

 

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

 

    7    

 

 

 

 


 

Invesco DWA Consumer Staples Momentum ETF (PSL)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

All or a portion of this security was out on loan at October 31, 2022.

(c) 

Non-income producing security.

(d) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2022.

 

    Value
April 30,  2022
    Purchases
at Cost
    Proceeds
from Sales
    Change in
Unrealized
Appreciation

(Depreciation)
    Realized
Gain
    Value
October 31,  2022
    Dividend
Income
 
Investments in Affiliated Money Market Funds:                                          

Invesco Government & Agency Portfolio, Institutional Class

    $ 24,532         $ 4,221,293         $ (4,245,825              $ -                $ -                $ -                $ 3,029    
Investments Purchased with Cash Collateral from Securities on Loan:                                          
Invesco Private Government Fund       5,383,930           31,176,401           (31,926,959                  -                    -           4,633,372           46,339  
Invesco Private Prime Fund       12,091,655           71,986,650           (72,168,469         (1,507         2,843           11,911,172           126,317  
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   
Total     $ 17,500,117         $ 107,384,344         $ (108,341,253       $ (1,507       $ 2,843         $ 16,544,544         $ 175,685    
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   

 

*

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, 2022.

(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, 2022

 

     

Packaged Foods & Meats

     19.34     

Food Distributors

     14.48     

Soft Drinks

     13.66     

Food Retail

     10.65     

Personal Products

     6.45     

Specialized Consumer Services

     6.26     

Agricultural Products

     6.26     

Household Products

     6.22     

Education Services

     5.20     

Distillers & Vintners

     5.09     

Hypermarkets & Super Centers

     3.60     

Tobacco

     2.38     

Money Market Funds Plus Other Assets Less Liabilities

     0.41     

 

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

 

    8    

 

 

 

 


 

Invesco DWA Energy Momentum ETF (PXI)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares          Value  

Common Stocks & Other Equity Interests-99.94%

 

Coal & Consumable Fuels-5.20%

     

Centrus Energy Corp., Class A(b)(c)

     124,899      $     5,908,972  

CONSOL Energy, Inc.

     104,260        6,570,465  
     

 

 

 
        12,479,437  
     

 

 

 

Integrated Oil & Gas-5.90%

     

Exxon Mobil Corp.

     61,887        6,857,699  

Occidental Petroleum Corp.

     100,704        7,311,110  
     

 

 

 
        14,168,809  
     

 

 

 

Oil & Gas Drilling-2.90%

     

Valaris Ltd.(b)(c)

     104,021        6,962,126  
     

 

 

 

Oil & Gas Equipment & Services-7.60%

     

RPC, Inc.

     714,478        7,952,140  

Weatherford International PLC(b)

     247,300        10,307,464  
     

 

 

 
        18,259,604  
     

 

 

 

Oil & Gas Exploration & Production-64.12%

 

  

Antero Resources Corp.(b)

     221,277        8,112,015  

Berry Corp.

     626,693        5,558,767  

California Resources Corp.(c)

     126,222        5,693,874  

Chesapeake Energy Corp.(c)

     56,054        5,732,643  

Chord Energy Corp.(c)

     47,038        7,201,047  

Civitas Resources, Inc.

     103,338        7,224,360  

Comstock Resources, Inc.(b)(c)

     307,567        5,776,108  

ConocoPhillips

     60,664        7,649,124  

Devon Energy Corp.

     113,726        8,796,706  

EOG Resources, Inc.

     51,981        7,096,446  

Hess Corp.

     52,445        7,398,941  

Marathon Oil Corp.

     260,587        7,934,874  

Matador Resources Co.

     148,387        9,860,316  

Murphy Oil Corp.

     166,767        8,089,867  

Pioneer Natural Resources Co.

     25,289        6,484,352  

Range Resources Corp.(c)

     239,340        6,816,403  

SandRidge Energy, Inc.(b)(c)

     313,889        5,929,363  

Sitio Royalties Corp.(c)

     213,419        6,052,563  

SM Energy Co.

     187,068        8,414,319  

Texas Pacific Land Corp.(c)

     4,937        11,374,206  

W&T Offshore, Inc.(b)

     890,537        6,759,176  
     

 

 

 
        153,955,470  
     

 

 

 

         Shares          Value  

Oil & Gas Refining & Marketing-6.08%

     

CVR Energy, Inc.(c)

     188,383      $     7,358,240  

Marathon Petroleum Corp.

     63,678        7,235,094  
     

 

 

 
        14,593,334  
     

 

 

 

Oil & Gas Storage & Transportation-3.78%

 

  

Cheniere Energy, Inc.

     51,453        9,076,824  
     

 

 

 

Steel-4.36%

     

Alpha Metallurgical Resources, Inc.

     62,072        10,480,857  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $178,306,080)

        239,976,461  
     

 

 

 

Money Market Funds-0.16%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $384,276)

     384,276        384,276  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.10%
(Cost $178,690,356)

        240,360,737  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

  

Money Market Funds-19.05%

     

Invesco Private Government Fund,
3.18%(d)(e)(f)

     12,808,217        12,808,217  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     32,927,101        32,927,101  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $45,736,027)

        45,735,318  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-119.15%
(Cost $224,426,383)

 

     286,096,055  

OTHER ASSETS LESS LIABILITIES-(19.15)%

 

     (45,978,133
     

 

 

 

NET ASSETS-100.00%.

      $ 240,117,922  
     

 

 

 

 

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, 2022.

(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, 2022.

 

     Value
April 30,  2022
     Purchases
at Cost
     Proceeds
from  Sales
    Change in
Unrealized
Appreciation
(Depreciation)
     Realized
Gain

(Loss)
     Value
October 31, 2022
     Dividend
Income
 
Investments in Affiliated Money Market Funds:                    
Invesco Government & Agency Portfolio, Institutional Class      $249,928        $8,924,159        $(8,789,811)       $      -        $    -        $384,276        $3,452  

 

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

 

    9    

 

 

 

 


 

Invesco DWA Energy Momentum ETF (PXI)–(continued)

October 31, 2022

(Unaudited)

 

    Value
April 30, 2022
    Purchases
at Cost
    Proceeds
from Sales
    Change in
Unrealized
Appreciation
(Depreciation)
    Realized
Gain
(Loss)
    Value
October 31, 2022
    Dividend
Income
 
Investments Purchased with Cash Collateral from Securities on Loan:                                          
Invesco Private Government Fund     $ 13,426,783         $ 75,768,067         $ (76,386,633              $         -                $       -                $ 12,808,217                $ 110,570  
Invesco Private Prime Fund       31,312,864           161,569,705           (159,954,080         (1,114         (274         32,927,101           301,895  
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   
Total     $ 44,989,575         $ 246,261,931         $ (245,130,524       $ (1,114       $ (274       $ 46,119,594         $ 415,917    
   

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

       

 

 

   

 

*

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

(e) 

The rate shown is the 7-day SEC standardized yield as of October 31, 2022.

(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, 2022

 

     

Oil & Gas Exploration & Production

   64.12   

Oil & Gas Equipment & Services

   7.60   

Oil & Gas Refining & Marketing

   6.08   

Integrated Oil & Gas

   5.90   

Coal & Consumable Fuels

   5.20   

Steel

   4.36   

Oil & Gas Storage & Transportation

   3.78   

Oil & Gas Drilling

   2.90   

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.

 

    10    

 

 

 

 


 

Invesco DWA Financial Momentum ETF (PFI)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.91%

 

Asset Management & Custody Banks-7.32%

 

Ameriprise Financial, Inc.

     8,107      $   2,506,036  

Ares Management Corp., Class A

     28,050        2,127,031  
     

 

 

 
        4,633,067  
     

 

 

 

Consumer Finance-2.10%

 

American Express Co.

     8,952        1,328,924  
     

 

 

 

Data Processing & Outsourced Services-9.50%

 

International Money Express, Inc.(b)(c)

     28,198        762,192  

Mastercard, Inc., Class A

     9,757        3,202,052  

Visa, Inc., Class A

     9,878        2,046,327  
     

 

 

 
        6,010,571  
     

 

 

 

Financial Exchanges & Data-6.49%

 

Donnelley Financial Solutions, Inc.(b)(c)

     26,111        1,055,668  

FactSet Research Systems, Inc.

     2,850        1,212,646  

Nasdaq, Inc.

     29,550        1,839,192  
     

 

 

 
        4,107,506  
     

 

 

 

Hotel & Resort REITs-1.86%

 

Ryman Hospitality Properties, Inc.

     13,251        1,178,279  
     

 

 

 

Industrial REITs-2.00%

 

First Industrial Realty Trust, Inc.

     26,568        1,265,434  
     

 

 

 

Insurance Brokers-9.81%

 

Aon PLC, Class A

     5,212        1,467,126  

Arthur J. Gallagher & Co.

     9,630        1,801,581  

Brown & Brown, Inc.

     23,599        1,387,385  

Marsh & McLennan Cos., Inc.

     9,598        1,549,981  
     

 

 

 
        6,206,073  
     

 

 

 

Investment Banking & Brokerage-9.11%

 

LPL Financial Holdings, Inc.

     10,799        2,760,765  

Morgan Stanley

     15,641        1,285,221  

Raymond James Financial, Inc.

     14,537        1,717,401  
     

 

 

 
        5,763,387  
     

 

 

 

Life & Health Insurance-4.78%

 

Globe Life, Inc.

     12,972        1,498,525  

Unum Group

     33,500        1,527,265  
     

 

 

 
        3,025,790  
     

 

 

 

Mortgage REITs-4.00%

 

Arbor Realty Trust, Inc.(c)

     67,916        935,203  

Ellington Financial, Inc.

     51,546        689,686  

Ready Capital Corp.(c)

     75,101        910,224  
     

 

 

 
        2,535,113  
     

 

 

 

Property & Casualty Insurance-13.26%

 

American Financial Group, Inc.

     8,307        1,205,429  

Kinsale Capital Group, Inc.

     6,183        1,948,696  

Palomar Holdings, Inc.(b)(c)

     7,985        710,346  

Progressive Corp. (The)

     23,445        3,010,338  

W.R. Berkley Corp.

     20,361        1,514,451  
     

 

 

 
        8,389,260  
     

 

 

 

Regional Banks-17.54%

 

Ameris Bancorp

     21,452        1,104,992  
     Shares      Value  

Regional Banks-(continued)

 

BancFirst Corp.(c)

     9,114      $      873,303  

First Bancorp

     76,176        1,202,819  

First Citizens BancShares, Inc., Class A

     1,439        1,183,031  

First Merchants Corp.(c)

     18,249        819,380  

Hancock Whitney Corp.

     17,151        958,226  

Lakeland Financial Corp.(c)

     9,445        780,629  

OFG Bancorp

     27,344        762,351  

Popular, Inc.

     11,083        783,790  

ServisFirst Bancshares, Inc.(c)

     11,796        888,593  

Stock Yards Bancorp, Inc.(c)

     10,124        791,596  

Wintrust Financial Corp.

     10,150        950,243  
     

 

 

 
        11,098,953  
     

 

 

 

Residential REITs-3.44%

 

Equity LifeStyle Properties, Inc.

     34,088        2,180,268  
     

 

 

 

Retail REITs-1.30%

 

Tanger Factory Outlet Centers, Inc.

     45,732        823,633  
     

 

 

 

Specialized REITs-5.45%

 

CubeSmart

     36,462        1,526,664  

Farmland Partners, Inc.(c)

     49,335        691,183  

Life Storage, Inc.

     11,135        1,231,643  
     

 

 

 
        3,449,490  
     

 

 

 

Thrifts & Mortgage Finance-1.95%

 

Mr. Cooper Group, Inc.(b)

     31,258        1,234,378  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $58,429,984)

 

     63,230,126  
     

 

 

 

Money Market Funds-0.19%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $121,537)

     121,537        121,537  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.10%
(Cost $58,551,521)

 

     63,351,663  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-11.51%

 

Invesco Private Government Fund, 3.18%(d)(e)(f)

     2,040,090        2,040,090  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     5,244,435        5,244,435  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $7,284,343)

 

     7,284,525  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-111.61%
(Cost $65,835,864)

 

     70,636,188  

OTHER ASSETS LESS LIABILITIES-(11.61)%

 

     (7,349,030
     

 

 

 

NET ASSETS-100.00%

 

   $ 63,287,158  
     

 

 

 

 

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

 

    11    

 

 

 

 


 

Invesco DWA Financial Momentum ETF (PFI)–(continued)

October 31, 2022

(Unaudited)

    

 

Notes to Schedule of Investments:

(a)

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

(b) 

Non-income producing security.

(c)

All or a portion of this security was out on loan at October 31, 2022.

(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, 2022.

 

     Value
April 30, 2022
   Purchases at
Cost
   Proceeds from
Sales
   Change in
Unrealized
Appreciation
   Realized
Gain
   Value
October 31, 2022
   Dividend
Income
Investments in Affiliated Money Market Funds:                                                                                              
Invesco Government & Agency Portfolio, Institutional Class           $ 196,176                $ 1,344,936                $ (1,419,575 )               $ -                $ -                $ 121,537           $ 1,296
Investments Purchased with Cash Collateral from Securities on Loan:                                                                                              
Invesco Private Government Fund             949,782                  11,333,371                  (10,243,063 )                 -                  -                  2,040,090             10,953 *
Invesco Private Prime Fund             2,214,095                  28,049,172                  (25,019,107 )                 182                  93                  5,244,435             29,631 *
         

 

 

                                             

 

 

                

 

 

                

 

 

           

 

 

 
Total           $ 3,360,053                $ 40,727,479                $ (36,681,745 )               $ 182                $ 93                $ 7,406,062           $ 41,880
         

 

 

                                             

 

 

                

 

 

                

 

 

           

 

 

 

 

*

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, 2022.

(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, 2022

 

     

  Regional Banks

     17.54     

  Property & Casualty Insurance

     13.26     

  Insurance Brokers

     9.81     

  Data Processing & Outsourced Services

     9.50     

  Investment Banking & Brokerage

     9.11     

  Asset Management & Custody Banks

     7.32                                           

  Financial Exchanges & Data

     6.49     

  Specialized REITs

     5.45     

  Life & Health Insurance

     4.78     

  Mortgage REITs

     4.00     

  Residential REITs

     3.44     

  Sub-Industry Types Each Less Than 3%

     9.21     

  Money Market Funds Plus Other Assets

  Less Liabilities

     0.09     

 

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

 

    12    

 

 

 

 


 

Invesco DWA Healthcare Momentum ETF (PTH)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.97%

 

Biotechnology-39.48%

 

Akero Therapeutics, Inc.(b)(c)

     154,108      $ 6,512,604  

Allakos, Inc.(b)(c)

     379,831        2,214,415  

Apellis Pharmaceuticals, Inc.(b)(c)

     107,363        6,494,388  

Avidity Biosciences, Inc.(b)(c)

     81,969        1,170,517  

Bluebird Bio, Inc.(b)(c)

     1,102,463        6,912,443  

Bridgebio Pharma, Inc.(b)(c)

     267,600        2,791,068  

Caribou Biosciences, Inc.(b)(c)

     169,864        1,654,475  

Catalyst Pharmaceuticals, Inc.(b)(c)

     340,825        4,727,243  

Chinook Therapeutics, Inc.(b)(c)

     88,192        1,918,176  

Cogent Biosciences, Inc.(b)

     309,337        4,222,450  

Cytokinetics, Inc.(b)(c)

     162,563        7,097,501  

Deciphera Pharmaceuticals, Inc.(b)

     196,003        3,179,169  

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

     219,983        2,441,811  

IVERIC bio, Inc.(b)(c)

     342,225        8,186,022  

Karuna Therapeutics, Inc.(b)(c)

     33,910        7,437,819  

Krystal Biotech, Inc.(b)(c)

     23,450        1,793,925  

Lyell Immunopharma, Inc.(b)(c)

     249,728        1,468,401  

Mersana Therapeutics, Inc.(b)

     330,563        2,598,225  

Prometheus Biosciences, Inc.(b)(c)

     65,913        3,461,751  

PTC Therapeutics, Inc.(b)

     49,292        1,864,223  

RAPT Therapeutics, Inc.(b)(c)

     86,597        1,889,547  

Sarepta Therapeutics, Inc.(b)(c)

     51,726        5,897,799  

Seres Therapeutics, Inc.(b)(c)

     313,062        2,773,729  

Verve Therapeutics, Inc.(b)(c)

     105,562        3,979,687  

Viridian Therapeutics, Inc.(b)(c)

     143,415        2,853,958  
     

 

 

 
        95,541,346  
     

 

 

 

Health Care Equipment-11.61%

 

Axonics, Inc.(b)

     33,416        2,444,046  

Cutera, Inc.(b)(c)

     88,309        4,059,565  

PROCEPT BioRobotics Corp.(b)(c)

     82,965        3,769,100  

Shockwave Medical, Inc.(b)

     26,488        7,764,957  

STERIS PLC(c)

     31,371        5,414,007  

TransMedics Group, Inc.(b)(c)

     96,340        4,645,515  
     

 

 

 
        28,097,190  
     

 

 

 

Health Care Facilities-4.78%

 

Acadia Healthcare Co., Inc.(b)

     65,632        5,335,882  

Ensign Group, Inc. (The)(c)

     69,405        6,231,181  
     

 

 

 
        11,567,063  
     

 

 

 

Health Care Services-4.18%

 

Accolade, Inc.(b)(c)

     176,923        1,907,230  

Cross Country Healthcare, Inc.(b)

     88,574        3,285,210  

Oak Street Health, Inc.(b)(c)

     89,205        1,804,617  

Option Care Health, Inc.(b)

     102,976        3,116,054  
     

 

 

 
        10,113,111  
     

 

 

 

Health Care Supplies-5.01%

 

Lantheus Holdings, Inc.(b)

     163,944        12,130,217  
     

 

 

 

Health Care Technology-3.15%

 

Evolent Health, Inc., Class A(b)(c)

     152,757        4,859,200  

Phreesia, Inc.(b)(c)

     101,297        2,767,434  
     

 

 

 
        7,626,634  
     

 

 

 
     Shares      Value  

Life Sciences Tools & Services-2.84%

 

Medpace Holdings, Inc.(b)(c)

     30,935      $ 6,866,951  
     

 

 

 

Managed Health Care-11.88%

 

Elevance Health, Inc.

     16,955        9,270,485  

Molina Healthcare, Inc.(b)

     19,695        7,067,748  

UnitedHealth Group, Inc.

     22,343        12,403,717  
     

 

 

 
        28,741,950  
     

 

 

 

Pharmaceuticals-17.04%

 

Amylyx Pharmaceuticals, Inc.(b)(c)

     172,270        6,144,871  

Axsome Therapeutics, Inc.(b)(c)

     129,262        5,836,179  

Cassava Sciences, Inc.(b)(c)

     198,895        7,247,734  

Eli Lilly and Co.

     27,915        10,107,742  

Esperion Therapeutics, Inc.(b)(c)

     278,152        2,261,376  

Pliant Therapeutics, Inc.(b)

     266,084        6,617,509  

Relmada Therapeutics, Inc.(b)(c)

     57,314        366,236  

Revance Therapeutics, Inc.(b)

     119,712        2,670,775  
     

 

 

 
        41,252,422  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $217,918,856)

 

     241,936,884  
     

 

 

 

Money Market Funds-0.08%

 

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $207,819)

     207,819        207,819  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.05%
(Cost $218,126,675)

 

     242,144,703  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-30.71%

 

Invesco Private Government Fund,
3.18%(d)(e)(f)

     21,146,715        21,146,715  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     53,178,141        53,178,141  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $74,323,928)

 

     74,324,856  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-130.76%
(Cost $292,450,603)

 

     316,469,559  

OTHER ASSETS LESS LIABILITIES-(30.76)%

 

     (74,451,155
     

 

 

 

NET ASSETS-100.00%.

 

   $ 242,018,404  
     

 

 

 

 

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

 

    13    

 

 

 

 


 

Invesco DWA Healthcare Momentum ETF (PTH)–(continued)

October 31, 2022

(Unaudited)

    

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at October 31, 2022.

(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, 2022.

 

    

Value

April 30, 2022

   Purchases
at Cost
  

Proceeds

from Sales

  Change in
Unrealized
Appreciation
   Realized
Gain
(Loss)
  Value
October 31, 2022
   Dividend
Income
Investments in Affiliated Money Market Funds:                                 
Invesco Government & Agency Portfolio, Institutional Class      $ 481,376      $ 9,459,954      $ (9,733,511 )     $ -      $ -     $ 207,819      $ 5,521
Investments Purchased with Cash Collateral from Securities on Loan:                                 
Invesco Private Government Fund        13,055,110        100,400,800        (92,309,195 )       -        -       21,146,715        139,651 *
Invesco Private Prime Fund        30,443,565        204,999,755        (182,264,184 )       502        (1,497 )       53,178,141        380,515 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 
Total      $ 43,980,051      $ 314,860,509      $ (284,306,890 )     $ 502      $ (1,497 )     $ 74,532,675      $ 525,687
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

 

*

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, 2022.

(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, 2022

 

     

  Biotechnology

     39.48     

  Pharmaceuticals

     17.04     

  Managed Health Care

     11.88                                           

  Health Care Equipment

     11.61     

  Health Care Supplies

     5.01     

  Health Care Facilities

     4.78     

  Health Care Services

     4.18     

  Health Care Technology

     3.15     

  Life Sciences Tools & Services

     2.84     

  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.

 

    14    

 

 

 

 


 

Invesco DWA Industrials Momentum ETF (PRN)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-100.05%

 

Aerospace & Defense-2.21%

 

TransDigm Group, Inc.

     4,247      $ 2,445,253  
     

 

 

 

Building Products-10.44%

 

Advanced Drainage Systems, Inc.

     28,485        3,300,842  

Carlisle Cos., Inc.

     10,821        2,584,055  

CSW Industrials, Inc.

     10,909        1,406,388  

Trane Technologies PLC

     26,723        4,265,792  
     

 

 

 
        11,557,077  
     

 

 

 

Construction & Engineering-10.62%

 

Comfort Systems USA, Inc.(b)

     16,753        2,065,310  

MYR Group, Inc.(c)

     16,585        1,451,353  

NV5 Global, Inc.(b)(c)

     10,245        1,485,013  

Quanta Services, Inc.

     25,021        3,553,983  

WillScot Mobile Mini Holdings Corp.(c)

     75,280        3,201,658  
     

 

 

 
        11,757,317  
     

 

 

 

Data Processing & Outsourced Services-7.91%

 

Automatic Data Processing, Inc.

     12,614        3,048,804  

Broadridge Financial Solutions, Inc.

     19,133        2,871,098  

Fiserv, Inc.(c)

     27,626        2,838,295  
     

 

 

 
        8,758,197  
     

 

 

 

Diversified Support Services-3.56%

 

Cintas Corp.

     9,209        3,937,308  
     

 

 

 

Electrical Components & Equipment-13.73%

 

AMETEK, Inc.

     38,340        4,971,164  

Enovix Corp.(b)(c)

     130,719        2,466,668  

Fluence Energy, Inc.(b)(c)

     107,125        1,599,376  

Hubbell, Inc.

     16,554        3,931,244  

Stem, Inc.(b)(c)

     164,632        2,238,995  
     

 

 

 
        15,207,447  
     

 

 

 

Environmental & Facilities Services-7.25%

 

Republic Services, Inc.

     18,278        2,424,028  

Rollins, Inc.

     73,280        3,083,623  

Waste Management, Inc.

     15,890        2,516,499  
     

 

 

 
        8,024,150  
     

 

 

 

Human Resource & Employment Services-1.75%

 

Insperity, Inc.

     16,402        1,935,764  
     

 

 

 

Industrial Machinery-3.98%

 

Energy Recovery, Inc.(b)(c)

     57,894        1,489,613  

IDEX Corp.

     13,147        2,922,709  
     

 

 

 
        4,412,322  
     

 

 

 

Oil & Gas Storage & Transportation-2.05%

 

International Seaways, Inc.(b)

     53,498        2,268,850  
     

 

 

 

Paper Packaging-4.13%

 

Graphic Packaging Holding Co.

     199,183        4,573,242  
     

 

 

 
     Shares      Value  

Railroads-3.53%

 

Union Pacific Corp.

     19,855      $ 3,914,215  
     

 

 

 

Research & Consulting Services-6.53%

 

Booz Allen Hamilton Holding Corp.

     25,955        2,825,202  

CBIZ, Inc.(c)

     32,178        1,597,316  

KBR, Inc.

     56,365        2,805,286  
     

 

 

 
        7,227,804  
     

 

 

 

Trading Companies & Distributors-20.41%

 

Herc Holdings, Inc.(b)

     21,905        2,576,247  

Rush Enterprises, Inc., Class A

     29,656        1,479,538  

Triton International Ltd. (Bermuda)(b)

     40,019        2,428,753  

Veritiv Corp.(b)(c)

     23,586        2,742,108  

W.W. Grainger, Inc.

     7,427        4,339,968  

Watsco, Inc.(b)

     17,693        4,794,095  

WESCO International, Inc.(c)

     30,808        4,244,418  
     

 

 

 
        22,605,127  
     

 

 

 

Trucking-1.95%

 

ArcBest Corp.(b)

     27,143        2,155,969  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $102,996,691)

 

     110,780,042  
     

 

 

 

Money Market Funds-0.09%

 

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $103,875)

     103,875        103,875  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.14%
(Cost $103,100,566)

 

     110,883,917  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-12.67%

 

Invesco Private Government Fund,
3.18%(d)(e)(f)

     3,927,055        3,927,055  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

     10,095,862        10,095,862  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $14,022,194)

 

     14,022,917  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-112.81%
(Cost $117,122,760)

 

     124,906,834  

OTHER ASSETS LESS LIABILITIES-(12.81)%

 

     (14,183,020
     

 

 

 

NET ASSETS-100.00%.

 

   $ 110,723,814  
     

 

 

 

 

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

 

    15    

 

 

 

 


 

Invesco DWA Industrials Momentum ETF (PRN)–(continued)

October 31, 2022

(Unaudited)

    

 

Notes to Schedule of Investments:

(a)

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

(b)

All or a portion of this security was out on loan at October 31, 2022.

(c) 

Non-income producing security.

(d) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2022.

 

     Value
April 30, 2022
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
   Realized
Gain
(Loss)
  Value
October 31, 2022
   Dividend
Income
Investments in Affiliated Money Market Funds:                                 
Invesco Government & Agency Portfolio, Institutional Class      $ 253,005      $ 4,282,695      $ (4,431,825 )     $ -      $ -     $ 103,875      $ 2,184
Investments Purchased with Cash Collateral from Securities on Loan:                                 
Invesco Private Government Fund        2,482,930        21,927,544        (20,483,419 )       -        -       3,927,055        31,332 *
Invesco Private Prime Fund        5,791,524        48,611,357        (44,307,098 )       723        (644 )       10,095,862        85,624 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 
Total      $ 8,527,459      $ 74,821,596      $ (69,222,342 )     $ 723      $ (644 )     $ 14,126,792      $ 119,140
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

 

*

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, 2022.

(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, 2022

 

     

  Trading Companies & Distributors

     20.41    

  Electrical Components & Equipment

     13.73    

  Construction & Engineering

     10.62    

  Building Products

     10.44    

  Data Processing & Outsourced Services

     7.91    

  Environmental & Facilities Services

     7.25    

  Research & Consulting Services

     6.53    

  Paper Packaging

     4.13    

  Industrial Machinery

     3.98    

  Diversified Support Services

     3.56                                          

  Railroads

     3.53    

  Sub-Industry Types Each Less Than 3%

     7.96    

  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.

 

    16    

 

 

 

 


 

Invesco DWA Technology Momentum ETF (PTF)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.98%

 

Advertising-1.77%

 

Trade Desk, Inc. (The), Class A(b)

     67,148      $ 3,574,960  
     

 

 

 

Alternative Carriers-1.95%

 

Iridium Communications, Inc.(b)

     76,309        3,932,203  
     

 

 

 

Application Software-20.20%

 

Box,Inc.,Class A(b)

     131,326        3,815,020  

Cadence Design Systems, Inc.(b)

     45,161        6,836,924  

Intuit, Inc.

     24,883        10,637,483  

Manhattan Associates, Inc.(b)

     26,567        3,232,407  

Paylocity Holding Corp.(b)

     18,679        4,329,605  

PowerSchool Holdings, Inc., Class A(b)

     158,934        3,178,680  

SPS Commerce, Inc.(b)(c)

     31,348        3,966,149  

Synopsys, Inc.(b)

     16,139        4,721,464  
     

 

 

 
        40,717,732  
     

 

 

 

Communications Equipment-10.90%

 

Calix, Inc.(b)

     58,521        4,309,487  

CommScope Holding Co., Inc.(b)

     318,545        4,217,536  

Digi International, Inc.(b)(c)

     96,074        3,874,664  

Extreme Networks, Inc.(b)

     313,363       </