N-CSR

Domestic Equity

The US stock market hit new highs in the second quarter of 2021, despite higher volatility stemming from inflation concerns and the potential for rising interest rates. Investors remained optimistic about the strength of the economic recovery after the US gross domestic product (GDP) grew at a 6.4% annualized rate for the first quarter of 2021.¹ Corporate earnings also remained strong as the majority of S&P 500 companies beat Wall Street earnings forecasts. US equity markets continued to move higher in July 2021 despite inflation concerns and increasing COVID-19 infection rates due to the rapidly spreading Delta variant. Despite the Consumer Price Index (CPI) increasing monthly from June through September,² the US Federal Reserve (the Fed) declined to raise interest rates at its September Federal Open Market Committee meeting. The US stock market saw continued volatility in August 2021 and a selloff through most of September due to increasing concerns of inflation due to a spike in oil prices and supply chain shortages causing rising costs.

Equity markets were volatile in the fourth quarter of 2021 amid record inflation and the emergence of a new COVID-19 variant. Pandemic-related supply chain disruptions and labor shortages intensified during the quarter, resulting in broadly higher input costs for companies and consumers alike. Additionally, the price of oil (West Texas Intermediate) rose to nearly $85 per barrel in October,³ causing higher gas prices for consumers and pushing energy stocks higher. The CPI reported for November increased 0.8%, resulting in a 6.8% increase over the last 12 months, the highest since 1982.²To combat inflation, the Fed announced a faster pace of tapering at its December meeting, pledging to end its asset purchase program by March 2022. The Fed also announced the potential for three interest rate increases in 2022. With solid corporate earnings and optimism about the COVID-19 Omicron variant reporting milder symptoms, stocks rallied at 2021 year-end.

Equity markets declined in the first quarter of 2022 amid volatility sparked by Russia’s invasion of Ukraine, rising commodity prices, rampant global inflation and the Fed’s shift toward tighter monetary policy. Russia’s invasion exacerbated inflationary pressures, disrupting already strained supply chains and increasing shortages of oil, gas and raw materials. The price of oil rose sharply, with crude prices reaching their highest price per barrel since 2008.³ The CPI rose by 7.9% for the 12 months ended February 28, 2022, the largest 12-month increase since 1982.² To combat inflation, the Fed raised the federal funds rate by one-quarter percentage point in March, with several more rate increases expected in 2022. As the war in Ukraine continued and corporate earnings in high-profile names, like Netflix reported slowing growth and profits, equity markets sold off for much of the month of April 2022. In this environment, US stocks had flat returns for the fiscal year ended April 30, 2022, of 0.21%, as measured by the S&P 500 Index.⁴

As an index fund, the Invesco S&P 500^® Equal Weight ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which consists of all of the components of the S&P 500^® Index. Unlike the S&P 500^® Index, which employs a float-adjusted market capitalization weighted methodology, the Index assigns each component security the same weight. The Fund generally invests in all of the securities comprising the Index in proportion to their weightings in the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 0.86%. On a net asset value (“NAV”) basis, the Fund returned 0.88%. During the same time period, the Index returned 1.08%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

During this same time period, the S&P 500^® Index (the “Benchmark Index”) returned 0.21%. The Benchmark Index is an unmanaged index weighted by market capitalization based on the average performance of approximately 505 equity securities. The Benchmark Index was selected for its recognition in the marketplace, and its performance comparison is a useful measure for investors as a broad representation of the U.S. equity market.

Relative to the Benchmark Index, the Fund was most overweight in the industrials sector and most underweight in the information technology sector during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s underweight allocation to and security selection within the communication services sector and to the Fund’s overweight allocation to and security selection within the energy sector.

For the fiscal year ended April 30, 2022, the energy sector contributed most significantly to the Fund’s return, followed by the real estate and consumer staples sectors, respectively. The consumer discretionary sector detracted most significantly from the Fund’s performance during the period, followed by the information technology and communication services sectors, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Devon Energy Corp., an energy company (portfolio average weight of 0.23%) and Occidental Petroleum Corp., an energy company (portfolio average weight of 0.22%). Positions that detracted most significantly from the Fund’s return during this period included PayPal Holdings, Inc., an information technology company (portfolio average weight of 0.18%) and IPG Photonics Corp., an information technology company (portfolio average weight of 0.18%).


Sector Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Information Technology			14.91
Industrials			14.28
Health Care			12.80
Financials			12.68
Consumer Discretionary			11.78
Consumer Staples			7.02
Real Estate			6.01
Utilities			6.00
Materials			5.85
Energy			4.28
Communication Services			4.28
Money Market Funds Plus Other Assets Less Liabilities			0.11

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Nielsen Holdings PLC			0.31
Twitter, Inc.			0.30
United Airlines Holdings, Inc.			0.29
Delta Air Lines, Inc.			0.27
American Airlines Group, Inc.			0.27
EPAM Systems, Inc.			0.27
Lamb Weston Holdings, Inc.			0.26
Valero Energy Corp.			0.24
Constellation Energy Corp.			0.24
Kimberly-Clark Corp.			0.24
Total			2.69

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight ETF (the “Predecessor Fund”) Inception: April 24, 2003

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.20% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Performance results for the indexes stated above are based upon a hypothetical investment in their respective constituent securities. The returns of an index do not represent Fund returns. An investor cannot invest directly in an index. The indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the hypothetical performance shown. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in the Fund.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Communication Services ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Communication Services Plus Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the” Index Provider”) compiles, maintains and calculates the Index, which is composed of all of the components of the S&P 500^® Communication Services Index (the “Parent Index”), an index that contains the common stocks of all companies included in the S&P 500^® Index that are classified as members of the communication services sector, as defined according to the Global Industry Classification Standard (“GICS”), with a 22 company minimum count. The communication services sector includes companies that facilitate communication or offer related content and information through various mediums and is comprised of companies from the following industries: diversified telecommunications services; wireless telecommunication services; media; entertainment; and interactive media & services. In the event there are fewer than 22 companies eligible for inclusion in the Index at a quarterly rebalance, the Index will be supplemented with the largest communication services companies in the S&P MidCap 400^® Index based on float-adjusted market capitalization until the 22 company minimum is reached. Any supplementary companies that are added to the Index will remain in the Index until the next quarterly rebalance, at which point those companies will be reviewed.

The Index is an equal-weighted version of the Parent Index. Unlike the Parent Index, which employs a float-adjusted market capitalization weighted methodology, the Index assigns each component security the same weight. The Fund generally invests in all of the securities comprising the Index in proportion to their weightings in the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (20.98)%. On a net asset value (“NAV”) basis, the Fund returned (20.90)%. During the same time period, the Index returned (20.60)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

The performance of the Fund differed from the Benchmark Index in part because the Fund seeks to track an Index that employs an equal weighted methodology, whereas the Benchmark Index weights stocks based primarily on market capitalization. Furthermore, the Fund seeks to track an index that focuses on a particular sector, whereas the Benchmark Index is a broad-based index.

Relative to the Benchmark Index, the Fund was most overweight in the media industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s underperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to the media industry, as well as the Fund’s overweight allocation to the entertainment industry.

For the fiscal year ended April 30, 2022, no industry contributed to the Fund’s return. The media industry detracted most significantly from the Fund’s return, followed by the entertainment industry.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Live Nation Entertainment Inc., an entertainment company (portfolio average weight of 4.71%) and Interpublic Group of Cos., Inc., a media company (portfolio average weight of 4.61%). Positions that detracted most significantly from the Fund’s return included Netflix, Inc., an entertainment company (portfolio average weight of 4.36%) and Match Group, Inc., an interactive media and services company (portfolio average weight of 2.00%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Media			34.36
Entertainment			27.24
Interactive Media & Services			20.29
Diversified Telecommunication Services			13.48
Wireless Telecommunication Services			4.64
Money Market Funds Plus Other Assets Less Liabilities			(0.01)

Fund Inception: November 7, 2018

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

As an index fund, the Invesco S&P 500^® Equal Weight Consumer Discretionary ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Consumer Discretionary Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (13.44)%. On a net asset value (“NAV”) basis, the Fund returned (13.39)%. During the same time period, the Index returned (13.07)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the hotels, restaurants & leisure industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s underperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to and security selection in the hotels, restaurants & leisure industry and the Fund’s overweight allocation to the household durables industry.

For the fiscal year ended April 30, 2022, the multiline retail industry contributed most significantly to the Fund’s return, followed by the distributors and automobiles industries, respectively. The hotels, restaurants & leisure industry detracted most significantly from the Fund’s return, followed by the household durables and textiles, apparel & luxury goods industries, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Dollar Tree, Inc., a multiline retail company (portfolio average weight of 1.74%) and AutoZone, Inc., a specialty retail company (portfolio average weight of 1.80%). Positions that detracted most significantly from the Fund’s return during this period included Penn National Gaming, Inc., a hotels, restaurants & leisure company (portfolio average weight of 1.41%) and Etsy, Inc., an internet & direct marketing retail company (portfolio average weight of 1.59%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Hotels, Restaurants & Leisure			30.95
Specialty Retail			20.13
Household Durables			13.10
Textiles, Apparel & Luxury Goods			10.11
Multiline Retail			5.74
Distributors			5.31
Automobiles			4.93
Internet & Direct Marketing Retail			4.53
Auto Components			3.44
Leisure Products			1.74
Money Market Funds Plus Other Assets Less Liabilities			0.02

Guggenheim S&P 500^® Equal Weight Consumer Discretionary ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Consumer Staples ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Consumer Staples Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 10.58%. On a net asset value (“NAV”) basis, the Fund returned 10.50%. During the same time period, the Index returned 10.98%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the food products industry and most underweight in the

software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to the food products and beverages industries, respectively.

For the fiscal year ended April 30, 2022, the foods products industry contributed most significantly to the Fund’s return, followed by the food & staples retailing and tobacco industries, respectively. The personal products industry was the only industry to detract from the Fund’s return during this period.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Costco Wholesale Corp., a food & staples retailing company (portfolio average weight of 3.27%) and Kroger Co., a food & staples retailing company (portfolio average weight of 3.19%). Positions that detracted most significantly from the Fund’s return during this period included Clorox Co., a personal products company (portfolio average weight of 3.01%) and Walgreens Boots Alliance, Inc., a food & staples retailing company (portfolio average weight of 2.95%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Food Products			41.44
Beverages			19.18
Household Products			15.65
Food & Staples Retailing			14.42
Tobacco			6.37
Personal Products			2.86
Money Market Funds Plus Other Assets Less Liabilities			0.08

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Lamb Weston Holdings, Inc.			3.77
Kimberly-Clark Corp.			3.38
Monster Beverage Corp.			3.35
Conagra Brands, Inc.			3.32
Constellation Brands, Inc., Class A			3.31
Kellogg Co.			3.27
Kraft Heinz Co. (The)			3.26
General Mills, Inc.			3.25
Philip Morris International, Inc.			3.22
Procter & Gamble Co. (The)			3.21
Total			33.34

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Consumer Staples ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

Effective after the close of markets on March 18, 2022, Invesco S&P 500^® Equal Weight Energy ETF’s (the “Fund”) underlying index changed from S&P 500^® Equal Weight Energy Index (the “Previous Index”) to S&P 500^® Equal Weight Energy Plus Index (the “Index”). At the time, the Fund also changed its investment objective and principal investment strategy.

As an index fund, the Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Index and, through March 18, 2022, the Previous Index. The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index, and through March 18, 2022, the Previous Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which is composed of all of the components of the S&P 500^® Energy Index (the “Parent Index”), an index that contains the common stocks of all companies included in the S&P 500^® Index that are classified as members of the energy sector, as defined according to the Global Industry Classification Standard (“GICS”), with a 22 company minimum count at each rebalance. The energy sector includes companies engaged in the exploration and production, refining and marketing, and storage and transportation of oil and gas and coal and consumable fuels, as well as companies that offer oil and gas equipment and services. All companies included in the Parent Index and the Index are domiciled in the United States and trade on U.S. exchanges. In the event there are fewer than 22 companies eligible for inclusion in the Index at a quarterly rebalance, the Index will be supplemented with the largest energy companies in the S&P MidCap 400^® Index based on float-adjusted market capitalization until the 22 company minimum is reached. Any supplementary companies that are added to the Index will remain in the Index until at least the next quarterly rebalance, at which point those companies will be reviewed.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 65.68%. On a net asset value (“NAV”) basis, the Fund returned 65.91%. During the same time period, the Custom Invesco S&P 500 Equal Weight Energy ETF Benchmark (a composite of the Previous Index through March 18, 2022, and of the Index for the remainder of the fiscal year, referred to herein as the “Blended-Index”) returned 66.93%. During the fiscal year, the Fund’s performance, on a NAV basis, differed from the return of the Blended-Index primarily due to the fees and expenses that

the Fund incurred during the period, the effect of which was compounded during a time period of high returns.

Relative to the Benchmark Index, the Fund was most overweight in the oil, gas & consumable fuels industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund being overweight in the oil, gas & consumable fuels industry.

For the fiscal year ended April 30, 2022, the oil, gas & consumable fuels industry contributed most significantly to the Fund’s return, followed by the energy equipment & services industry. No industry detracted from the Fund’s return during this period.

The position that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, was Devon Energy Corp., an oil, gas & consumable fuels company (portfolio average weight of 4.94%) and Marathon Oil Corp., an oil, gas & consumable fuels company (portfolio average weight of 4.90%). The only position that detracted from the Fund’s return during this period was NOV Inc., an energy equipment & services company (no longer held at fiscal year-end).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Oil, Gas & Consumable Fuels			87.83
Energy Equipment & Services			12.00
Money Market Funds Plus Other Assets Less Liabilities			0.17

Guggenheim S&P 500^® Equal Weight Energy ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

-	The Custom Invesco S&P 500 Equal Weight Energy ETF Benchmark is comprised of the performance of the Previous Index from Fund Inception through the conversion date, March 18, 2022, followed by the performance of the Index starting from the conversion date through April 30, 2022.

As an index fund, the Invesco S&P 500^® Equal Weight Financials ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Financials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (2.08)%. On a net asset value (“NAV”) basis, the Fund returned (1.90)%. During the same time period, the Index returned (1.52)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the insurance industry and most underweight the software

industry during the fiscal year ended April 30, 2022. The majority of the Fund’s underperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to and security selection within the capital markets industry.

For the fiscal year ended April 30, 2022, the insurance industry most significantly contributed to the Fund’s return, followed by the diversified financial services industry. The capital markets industry detracted most significantly from the Fund’s return during the period, followed by the banks and consumer finance industries, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included W.R. Berkley Corp., an insurance company (portfolio average weight of 1.55%) and Chubb Ltd., an insurance company (portfolio average weight of 1.53%). Positions that detracted most significantly from the Fund’s return during this period included MarketAxess Holdings Inc., a capital markets company (portfolio average weight of 1.42%) and Invesco, Ltd., a capital markets company (portfolio average weight of 1.45%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Insurance			35.52
Capital Markets			30.84
Banks			25.48
Consumer Finance			6.52
Diversified Financial Services			1.56
Money Market Funds Plus Other Assets Less Liabilities			0.08

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Arthur J. Gallagher & Co.			1.73
Marsh & McLennan Cos., Inc.			1.71
Discover Financial Services			1.70
Assurant, Inc.			1.69
W.R. Berkley Corp.			1.67
Synchrony Financial			1.66
Principal Financial Group, Inc.			1.66
Hartford Financial Services Group, Inc. (The)			1.65
American Express Co.			1.65
Moody’s Corp.			1.64
Total			16.76

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Financials ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Health Care ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Health Care Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 0.91%. On a net asset value (“NAV”) basis, the Fund returned 1.00%. During the same time period, the Index returned 1.42%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the health care equipment & supplies industry and most

underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to the health care providers & services and pharmaceuticals industries, respectively.

For the fiscal year ended April 30, 2022, the health care providers & services industry contributed most significantly to the Fund’s return, followed by the pharmaceuticals and biotechnology industries, respectively. The health care equipment & supplies industry detracted most significantly from the Fund’s return, followed by the life sciences tools & services industry.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included McKesson Corp., a health care providers & services company (portfolio average weight of 1.63%) and Eli Lilly and Co., a pharmaceuticals company (portfolio average weight of 1.61%). Positions that detracted most significantly from the Fund’s return during this period included Moderna, Inc., a biotechnology company (portfolio average weight of 1.07%) and Align Technology, Inc., a health care equipment & services company (portfolio average weight of 1.46%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Health Care Equipment & Supplies			28.19
Health Care Providers & Services			24.88
Life Sciences Tools & Services			17.96
Pharmaceuticals			14.42
Biotechnology			12.93
Health Care Technology			1.57
Money Market Funds Plus Other Assets Less Liabilities			0.05

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Vertex Pharmaceuticals, Inc.			1.81
Merck & Co., Inc.			1.78
Cardinal Health, Inc.			1.73
McKesson Corp.			1.73
Eli Lilly and Co.			1.72
Bristol-Myers Squibb Co.			1.71
Cigna Corp.			1.71
Anthem, Inc.			1.69
Johnson & Johnson			1.67
UnitedHealth Group, Inc.			1.65
Total			17.20

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Health Care ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Industrials ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Industrials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which is composed of all of the components of the S&P 500^® Industrials Index (the “Parent Index”), an index that contains the common stocks of all companies included in the S&P 500^® Index that are classified as members of the industrials sector, as defined according to the Global Industry Classification Standard (“GICS”). The industrials sector includes manufacturers and distributors of capital goods such as aerospace and defense, building products, electrical equipment and machinery, companies that offer construction and engineering services, providers of commercial and professional services including printing, environmental and facilities services, office services and supplies, security and alarm services, human resource and employment services, research and consulting services and providers of transportation services.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (3.71)%. On a net asset value (“NAV”) basis, the Fund returned (3.70)%. During the same time period, the Index returned (3.32)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the machinery industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s underperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to and security selection within the machinery industry.

For the fiscal year ended April 30, 2022, the aerospace & defense industry contributed most significantly to the Fund’s return, followed by the professional services and commercial services & supplies industries, respectively. The machinery industry detracted most significantly from the Fund’s return during this period, followed by the building products and industrial conglomerates industries, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Quanta Services, Inc., a construction & engineering company (portfolio average weight of 1.37%) and Republic Services Inc., a commercial services & supplies company (portfolio average weight of 1.41%). Positions that detracted most significantly from the Fund’s return during the period included Stanley Black & Decker, Inc., a machinery company (portfolio average weight of 1.31%) and Boeing Co., an aerospace & defense company (portfolio average weight of 1.32%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Machinery			23.14
Aerospace & Defense			13.72
Professional Services			9.26
Building Products			9.22
Airlines			9.00
Commercial Services & Supplies			7.38
Electrical Equipment			6.63
Road & Rail			6.50
Air Freight & Logistics			5.41
Trading Companies & Distributors			4.31
Industrial Conglomerates			4.07
Industry Types Each Less Than 3%			1.32
Money Market Funds Plus Other Assets Less Liabilities			0.04

Guggenheim S&P 500^® Equal Weight Industrials ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Materials ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Materials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 10.11%. On a net asset value (“NAV”) basis, the Fund returned 10.18%. During the same time period, the Index returned 10.58%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the chemicals industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority

of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to and security selection within the chemicals and metals & mining industries.

For the fiscal year ended April 30, 2022, the chemicals industry contributed most significantly to the Fund’s return followed by the metals & mining industry. No industry detracted from the Fund’s return during this period.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included CF Industries Holdings, Inc., a chemicals company (portfolio average weight of 3.95%) and Mosaic Co. (The), a chemicals company (portfolio average weight of 3.88%). Positions that detracted most significantly from the Fund’s return during the period included PPG Industries, Inc., a chemicals company (portfolio average weight of 3.54%) and Ecolab Inc., a chemicals company (portfolio average weight of 3.44%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Chemicals			57.59
Containers & Packaging			25.56
Metals & Mining			10.14
Construction Materials			6.65
Money Market Funds Plus Other Assets Less Liabilities			0.06

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Sherwin-Williams Co. (The)			4.04
Nucor Corp.			3.93
WestRock Co.			3.92
Avery Dennison Corp.			3.82
Linde PLC			3.81
Dow, Inc.			3.74
International Paper Co.			3.74
Amcor PLC			3.73
Packaging Corp. of America			3.69
Corteva, Inc.			3.69
Total			38.11

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Materials ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Real Estate ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Real Estate Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 13.37%. On a net asset value (“NAV”) basis, the Fund returned 13.20%. During the same time period, the Index returned 13.63%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the equity REITs industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index

during that period can be attributed to the Fund being overweight in the equity REITs industry. For the fiscal year ended April 30, 2022, the equity REITs industry contributed most significantly to the Fund’s return, followed by the real estate management & development industry. No industry detracted from the Fund’s return during this period.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Iron Mountain, Inc., an equity REITs company (portfolio average weight of 3.41%) and Prologis, Inc, an equity REITs company (portfolio average weight of 3.54%). Positions that detracted most significantly from the Fund’s return during the period included Camden Property Trust, an equity REITs company (portfolio average weight of 0.22%) and Vornado Realty Trust, an equity REITs company (portfolio average weight of 3.31%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Equity REITs			96.79
Real Estate Management & Development			3.17
Money Market Funds Plus Other Assets Less Liabilities			0.04

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Host Hotels & Resorts, Inc.			3.77
Prologis, Inc.			3.62
SBA Communications Corp., Class A			3.61
Digital Realty Trust, Inc.			3.59
Kimco Realty Corp.			3.57
Crown Castle International Corp.			3.56
Iron Mountain, Inc.			3.55
Realty Income Corp.			3.54
Weyerhaeuser Co.			3.47
Equinix, Inc.			3.46
Total			35.74

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Real Estate ETF (the “Predecessor Fund”) Inception: August 13, 2015

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Technology ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Information Technology Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (6.08)%. On a net asset value (“NAV”) basis, the Fund returned (6.10)%. During the same time period, the Index returned (5.73)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to fees incurred during the period.

Relative to the Benchmark Index, the Fund was most overweight in the IT services industry and most underweight in the interactive media & services industry during the fiscal year ended April 30,

2022. The majority of the Fund’s underperformance relative to the Benchmark Index during that period can be attributed to the Fund’s overweight allocation to the IT services industry. For the fiscal year ended April 30, 2022, the communications equipment industry was the only industry to contribute to the Fund’s return. The IT services industry detracted most significantly from the Fund’s return during this period, followed by the electronic equipment, instruments and components and software industries, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Arista Networks, Inc., a communications equipment company (portfolio average weight of 1.46%) and Gartner, Inc., an IT Services company (portfolio average weight of 1.41%). Positions that detracted most significantly from the Fund’s return during this period included PayPal Holdings, Inc., an IT services company (portfolio average weight of 1.22%) and IPG Photonics Corp., an electronic equipment, instruments & components company (portfolio average weight of 1.23%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
IT Services			26.56
Semiconductors & Semiconductor Equipment			23.88
Software			23.64
Electronic Equipment, Instruments & Components			11.71
Technology Hardware, Storage & Peripherals			8.00
Communications Equipment			6.24
Money Market Funds Plus Other Assets Less Liabilities			(0.03)

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
EPAM Systems, Inc.			1.78
Western Digital Corp.			1.58
Mastercard, Inc., Class A			1.51
Fidelity National Information Services, Inc.			1.49
PTC, Inc.			1.48
FleetCor Technologies, Inc.			1.46
Roper Technologies, Inc.			1.46
Visa, Inc., Class A			1.46
Global Payments, Inc.			1.45
International Business Machines Corp.			1.44
Total			15.11

*	Excluding money market fund holdings.

Guggenheim S&P 500^® Equal Weight Technology ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P 500^® Equal Weight Utilities ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500^® Equal Weight Utilities Plus Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which is composed of all of the components of the S&P 500^® Utilities Index (the “Parent Index”), an index that contains the common stocks of all companies included in the S&P 500^® Index that are classified as members of the utilities sector, as defined according to the Global Industry Classification Standard (“GICS”), with a 22 company minimum count. The utilities sector includes utility companies such as electric, gas and water utilities, independent power producers and energy traders and companies that engage in generation and distribution of electricity using renewable sources. In the event there are fewer than 22 companies eligible for inclusion in the Index at a quarterly rebalance, the Index will be supplemented with the largest utilities companies in the S&P MidCap 400^® Index based on float-adjusted market capitalization until the 22 company minimum is reached. Any supplementary companies that are added to the Index will remain in the Index until at least the next quarterly rebalance, at which point those companies will be reviewed.

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned 11.15%. On a net asset value (“NAV”) basis, the Fund returned 10.90%. During the same time period, the Index returned 11.39%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

The performance of the Fund differed from the Benchmark Index in part because the Fund seeks to track an Index that employs an equal weighted methodology, whereas the Benchmark Index

weights stocks based primarily on market capitalization. Furthermore, the Fund seeks to track an index that focuses on a particular sector, whereas the Benchmark Index is a broad-based index.

Relative to the Benchmark Index, the Fund was most overweight in the electric utilities industry and most underweight in the software industry during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund being overweight to and security selection in the electric utilities industry.

For the fiscal year ended April 30, 2022, the electric utilities industry contributed most significantly to the Fund’s return, followed by the multi-utilities and gas utilities industries, respectively. The independent power and renewable electricity producers industry was the only industry to detract from the Fund’s return during this period.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Exelon Corp., an electric utilities company (portfolio average weight of 3.54%) and CenterPoint Energy, Inc., a multi-utilities company (portfolio average weight of 3.59%). Positions that detracted most significantly from the Fund’s return during this period included AES Corp. (The), an independent power and renewable electricity producers company (portfolio average weight of 3.41%) and Pinnacle West Capital Corp., an electric utilities company (portfolio average weight of 3.47%).


Industry Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Electric Utilities			55.30
Multi-Utilities			34.74
Water Utilities			3.39
Gas Utilities			3.33
Independent Power and Renewable Electricity Producers			3.08
Money Market Funds Plus Other Assets Less Liabilities			0.16

Guggenheim S&P 500^® Equal Weight Utilities ETF (the “Predecessor Fund”) Inception: November 1, 2006

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P MidCap 400^® Equal Weight ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400^® Equal Weight Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which consists of all of the components of the S&P MidCap 400^® Index (the “Parent Index”), a broad-based index of approximately 400 securities that measures the mid-cap segment of the U.S. equity market. Such components include common stock of companies listed on certain U.S. exchanges and also may include equity interests in real estate investment trusts (“REITs”).

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (6.81)%. On a net asset value (“NAV”) basis, the Fund returned (6.72)%. During the same time period, the Index returned (6.37)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

During this same time period, the S&P MidCap 400^® Index (the “Benchmark Index”) returned (7.03)%. The Benchmark Index is an unmanaged index weighted by market capitalization based on the average performance of approximately 400 equity securities. The Benchmark Index was selected for its recognition in the marketplace, and its performance comparison is a useful measure for investors as a broad representation of the U.S. midcap market.

Relative to the Benchmark Index, the Fund was most overweight in the financials sector and most underweight in the industrials sector during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s security selection in the consumer discretionary and industrials sectors, respectively.

For the fiscal year ended April 30, 2022, the energy sector contributed most significantly to the Fund’s return, followed by the real estate and materials sectors, respectively. The consumer discretionary sector detracted most significantly from the Fund’s return during this period, followed by the information technology and health care sectors, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included Avis Budget Group, Inc., an industrials company (portfolio average weight of 0.33%) and Murphy Oil Corp., an energy company (portfolio average weight of 0.28%). Positions that detracted most significantly from the Fund’s return during this period included Cerence, Inc., an information technology company (no longer held at fiscal year-end) and Boston Beer Co., Inc. (The), Class A, a consumer staples company (portfolio average weight of 0.22%).


Sector Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Industrials			16.86
Consumer Discretionary			15.80
Financials			14.60
Information Technology			13.92
Health Care			9.27
Real Estate			8.54
Materials			6.81
Consumer Staples			4.83
Utilities			3.62
Energy			3.47
Communication Services			2.21
Money Market Funds Plus Other Assets Less Liabilities			0.07

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
EQT Corp.			0.38
SailPoint Technologies Holding, Inc.			0.37
GameStop Corp., Class A			0.35
Murphy USA, Inc.			0.34
Alleghany Corp.			0.34
Avis Budget Group, Inc.			0.33
Chemours Co. (The)			0.32
FirstCash Holdings, Inc.			0.32
Pilgrim’s Pride Corp.			0.32
Ollie’s Bargain Outlet Holdings, Inc.			0.31
Total			3.38

*	Excluding money market fund holdings.

Guggenheim S&P MidCap 400^® Equal Weight ETF (the “Predecessor Fund”) Inception: December 3, 2010

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Performance results for the indexes stated above are based upon a hypothetical investment in their respective constituent securities. The

returns of an index do not represent Fund returns. An investor cannot invest directly in an index. The indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the hypothetical performance shown. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in the Fund.

Notes Regarding Indexes and Fund Performance History:

The Blended—S&P MidCap 400^® Equal Weight Index performance is comprised of the performance of the Russell MidCap Equal Weight Index, the Fund’s previous underlying index, prior to the conversion date, January 26, 2016, followed by the performance of the Index, starting from the conversion date through April 30, 2022.

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

As an index fund, the Invesco S&P SmallCap 600^® Equal Weight ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600^® Equal Weight Index (the “Index”). The Fund generally will invest at least 90% of its total assets in the securities that comprise the Index.

Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the Index, which consists of all of the components of the S&P SmallCap 600^® Index (the Parent Index”), a broad-based index of approximately 600 securities that measures the small-cap segment of the U.S. equity market. Such components include common stock of companies listed on certain U.S. exchanges and also may include equity interests in real estate investment trusts (“REITs”).

For the fiscal year ended April 30, 2022, on a market price basis, the Fund returned (8.54)%. On a net asset value (“NAV”) basis, the Fund returned (8.27)%. During the same time period, the Index returned (7.97)%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the fees and expenses that the Fund incurred during the period.

During this same time period, the S&P SmallCap 600^® Index (the “Benchmark Index”) returned (8.54)%. The Benchmark Index is an unmanaged index weighted by market capitalization based on the average performance of approximately 600 equity securities. The Benchmark Index was selected for its recognition in the marketplace, and its performance comparison is a useful measure for investors as a broad representation of the U.S. small cap market.

Relative to the Benchmark Index, the Fund was most overweight in the health care sector and most underweight in the information technology sector during the fiscal year ended April 30, 2022. The majority of the Fund’s outperformance relative to the Benchmark Index during that period can be attributed to the Fund’s security selection in the materials and industrials sectors, respectively.

For the fiscal year ended April 30, 2022, the energy sector contributed most significantly to the Fund’s return, followed by the materials sector. The consumer discretionary sector detracted most significantly from the Fund’s return during this period, followed by the health care and financials sectors, respectively.

Positions that contributed most significantly to the Fund’s return for the fiscal year ended April 30, 2022, included CONSOL Energy, Inc., an energy company (portfolio average weight of 0.20%) and Lantheus Holdings, Inc., a health care company (portfolio average weight of 0.19%). Positions that detracted most significantly from the Fund’s return during this period included Tabula Rasa Healthcare, Inc., a health care company (no longer held at fiscal year-end) and SelectQuote, Inc., a financials company (portfolio average weight of 0.12%).


Sector Breakdown (% of the Fund’s Net Assets) as of April 30, 2022
Financials			17.45
Industrials			14.55
Consumer Discretionary			14.48
Health Care			13.51
Information Technology			11.17
Real Estate			8.05
Materials			6.22
Consumer Staples			5.53
Energy			4.95
Sector Types Each Less Than 3%			4.04
Money Market Funds Plus Other Assets Less Liabilities			0.05

Top Ten Fund Holdings* (% of the Fund’s Net Assets) as of April 30, 2022
Security
Plantronics, Inc.			0.27
CONSOL Energy, Inc.			0.25
CoreCivic, Inc.			0.25
Southwestern Energy Co.			0.24
Natus Medical, Inc.			0.24
Sylvamo Corp.			0.23
Chico’s FAS, Inc.			0.23
Guess?, Inc.			0.23
Cutera, Inc.			0.23
Chefs’ Warehouse, Inc. (The)			0.23
Total			2.40

*	Excluding money market fund holdings.

Guggenheim S&P SmallCap 600^® Equal Weight ETF (the “Predecessor Fund”) Inception: December 3, 2010

Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.40% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.

Notes Regarding Indexes and Fund Performance History:

The Blended—S&P SmallCap 600^® Equal Weight Index performance is comprised of the performance of the Russell 2000^® Equal Weight Index, the Fund’s previous underlying index, prior to the conversion date, January 26, 2016, followed by the performance of the Index, starting from the conversion date through April 30, 2022.

-	Average Annualized and Cumulative Inception returns for the Fund and indexes are based on the inception date of the Predecessor Fund.

-	Effective after the close of business on April 6, 2018, the Predecessor Fund was reorganized into the Fund. Returns shown are blended returns of the Predecessor Fund and the Fund.

In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), the Funds have adopted and implemented a liquidity risk management program (the “Program”). The Program is reasonably designed to assess and manage the Funds’ liquidity risk, which is the risk that the Funds could not meet redemption requests without significant dilution of remaining investors’ interests in the Funds. The Board of Trustees of the Funds (the “Board”) has appointed Invesco Capital Management LLC (“Invesco”), the Funds’ investment adviser, as the Program’s administrator, and Invesco has delegated oversight of the Program to the Liquidity Risk Management Committee (the “Committee”), which is composed of senior representatives from relevant business groups at Invesco and its affiliates.

As required by the Liquidity Rule, the Program includes policies and procedures providing for an assessment, no less frequently than annually, of the Funds’ liquidity risk that takes into account, as relevant to the Funds’ liquidity risk: (1) each Fund’s investment strategy and liquidity of portfolio investments during both normal and reasonably foreseeable stressed conditions; (2) short-term and long-term cash flow projections for the Funds during both normal and reasonably foreseeable stressed conditions; (3) each Fund’s holdings of cash and cash equivalents and any borrowing arrangements; (4) the relationship between the Funds’ portfolio liquidity and the way in which, and the prices and spreads at which, Fund shares trade, including the efficiency of the arbitrage function and the level of active participation by market participants, including authorized participants; and (5) the effect of the composition of baskets on the overall liquidity of each Fund’s portfolio. The Liquidity Rule also requires the classification of each Fund’s investments into categories that reflect the assessment of their relative liquidity under current market conditions. Each Fund classifies its investments into one of four categories defined in the Liquidity Rule: “Highly Liquid,” “Moderately Liquid,” “Less Liquid,” and “Illiquid.” Funds that are not invested primarily in “Highly Liquid Investments” that are assets (cash or investments that are reasonably expected to be convertible into cash within three business days without significantly changing the market value of the investment) are required to establish a “Highly Liquid Investment Minimum” (“HLIM”), which is the minimum percentage of net assets that must be invested in Highly Liquid Investments. Funds with HLIMs have procedures for addressing HLIM shortfalls, including reporting to the Board and the SEC (on a non-public basis) as required by the Program and the Liquidity Rule. In addition, a Fund may not acquire an investment if, immediately after the acquisition, over 15% of such Fund’s net assets would consist of “Illiquid Investments” that are assets (an investment that cannot reasonably be expected to be sold or disposed of in current market conditions in seven calendar days or less without the sale or disposition significantly changing the market value of the investment). The Liquidity Rule and the Program also require reporting to the Board and the SEC (on a non-public basis) if a Fund’s holdings of Illiquid Investments exceed 15% of such Fund’s assets.

At a meeting held on March 15, 2022, the Committee presented a report to the Board that addressed the operation of the Program and assessed the Program’s adequacy and effectiveness of implementation (the “Report”). The Report covered the period from January 1, 2021 through December 31, 2021 (the “Program Reporting Period”). The Report discussed notable events affecting liquidity over the Program Reporting Period, including the impact of the coronavirus pandemic on the Funds and the overall market. The Report noted that there were no material changes to the Program during the Program Reporting Period.


	Shares		Value
Common Stocks & Other Equity Interests-99.89%
Communication Services-4.28%
Activision Blizzard, Inc.		808,627	$	61,132,201
Alphabet, Inc., Class A^(b)		12,635		28,835,471
Alphabet, Inc., Class C^(b)		11,743		27,001,032
AT&T, Inc.		3,616,418		68,205,644
Charter Communications, Inc., Class A^(b)(c)		115,972		49,692,842
Comcast Corp., Class A		1,442,486		57,353,243
DISH Network Corp., Class A^(b)(c)		2,161,144		61,614,215
Electronic Arts, Inc.		530,735		62,653,267
Fox Corp., Class A		1,160,888		41,606,226
Fox Corp., Class B		532,744		17,708,411
Interpublic Group of Cos., Inc. (The)		1,931,765		63,014,174
Live Nation Entertainment, Inc.^(b)(c)		598,089		62,727,574
Lumen Technologies, Inc.^(c)		6,029,363		60,655,392
Match Group, Inc.^(b)(c)		734,392		58,127,127
Meta Platforms, Inc., Class A^(b)		346,221		69,406,924
Netflix, Inc.^(b)		190,944		36,348,100
News Corp., Class A		2,353,152		46,733,599
News Corp., Class B		729,013		14,514,649
Omnicom Group, Inc.		852,257		64,882,325
Paramount Global, Class B^(c)		1,990,786		57,971,688
Take-Two Interactive Software, Inc.^(b)(c)		422,933		50,544,723
T-Mobile US, Inc.^(b)		521,386		64,203,472
Twitter, Inc.^(b)(c)		1,967,883		96,465,625
Verizon Communications, Inc.		1,224,364		56,688,053
Walt Disney Co. (The)^(b)		492,633		54,992,622
Warner Bros Discovery, Inc.^(b)		2,705,833		49,110,877

				1,382,189,476

Consumer Discretionary-11.78%
Advance Auto Parts, Inc.		318,410		63,564,188
Amazon.com, Inc.^(b)		22,303		55,437,006
Aptiv PLC^(b)		611,786		65,094,030
AutoZone, Inc.^(b)		35,011		68,462,960
Bath & Body Works, Inc.^(c)		1,387,085		73,362,926
Best Buy Co., Inc.		686,364		61,724,715
Booking Holdings, Inc.^(b)		31,833		70,360,798
BorgWarner, Inc.^(c)		1,788,102		65,855,797
Caesars Entertainment, Inc.^(b)(c)		868,202		57,544,429
CarMax, Inc.^(b)(c)		654,601		56,151,674
Carnival Corp.^(b)(c)		3,710,712		64,195,318
Chipotle Mexican Grill, Inc.^(b)		44,009		64,059,940
D.R. Horton, Inc.		802,268		55,829,830
Darden Restaurants, Inc.		503,402		66,313,145
Dollar General Corp.		315,731		74,995,584
Dollar Tree, Inc.^(b)		442,404		71,868,530
Domino’s Pizza, Inc.^(c)		168,218		56,857,684
eBay, Inc.		1,297,098		67,345,328
Etsy, Inc.^(b)(c)		535,426		49,896,349
Expedia Group, Inc.^(b)(c)		362,461		63,340,060
Ford Motor Co.		4,048,537		57,327,284
Garmin Ltd.		591,418		64,902,211
General Motors Co.^(b)		1,564,172		59,297,761
Genuine Parts Co.^(c)		533,469		69,377,643
Hasbro, Inc.		750,857		66,120,467
Hilton Worldwide Holdings, Inc.^(b)(c)		458,090		71,136,796
Home Depot, Inc. (The)		204,825		61,529,430


	Shares		Value
Consumer Discretionary-(continued)
Las Vegas Sands Corp.^(b)(c)		1,782,816	$	63,165,171
Lennar Corp., Class A		750,008		57,368,112
LKQ Corp.		1,474,020		73,155,613
Lowe’s Cos., Inc.		292,082		57,753,374
Marriott International, Inc., Class A^(b)		401,590		71,290,257
McDonald’s Corp.		286,203		71,310,339
MGM Resorts International		1,619,030		66,444,991
Mohawk Industries, Inc.^(b)		495,467		69,890,575
Newell Brands, Inc.^(c)		3,008,965		69,657,540
NIKE, Inc., Class B		529,463		66,024,036
Norwegian Cruise Line Holdings Ltd.^(b)(c)		3,712,595		74,363,278
NVR, Inc.^(b)		13,356		58,448,661
O’Reilly Automotive, Inc.^(b)		96,012		58,236,079
Penn National Gaming, Inc.^(b)(c)		1,521,617		55,645,534
Pool Corp.		147,017		59,574,229
PulteGroup, Inc.		1,399,864		58,458,321
PVH Corp.		895,500		65,174,490
Ralph Lauren Corp.^(c)		604,042		63,025,742
Ross Stores, Inc.		740,045		73,834,290
Royal Caribbean Cruises Ltd.^(b)(c)		948,820		73,751,779
Starbucks Corp.		785,010		58,593,146
Tapestry, Inc.		1,890,307		62,228,906
Target Corp.		313,609		71,706,698
Tesla, Inc.^(b)		81,769		71,201,174
TJX Cos., Inc. (The)		1,056,984		64,771,979
Tractor Supply Co.		286,636		57,742,822
Ulta Beauty, Inc.^(b)		176,197		69,914,970
Under Armour, Inc., Class A^(b)		2,072,823		31,838,561
Under Armour, Inc., Class C^(b)(c)		2,362,988		33,530,800
VF Corp.^(c)		1,213,576		63,105,952
Whirlpool Corp.^(c)		350,262		63,579,558
Wynn Resorts Ltd.^(b)		897,925		63,285,754
Yum! Brands, Inc.		558,304		65,327,151

				3,805,351,765

Consumer Staples-7.02%
Altria Group, Inc.		1,286,527		71,492,305
Archer-Daniels-Midland Co.		777,191		69,605,226
Brown-Forman Corp., Class B		1,027,020		69,262,229
Campbell Soup Co.^(c)		1,539,741		72,706,570
Church & Dwight Co., Inc.		682,407		66,575,627
Clorox Co. (The)		499,007		71,592,534
Coca-Cola Co. (The)		1,121,079		72,432,914
Colgate-Palmolive Co.		880,188		67,818,485
Conagra Brands, Inc.		2,157,151		75,349,285
Constellation Brands, Inc., Class A		305,766		75,245,955
Costco Wholesale Corp.		123,294		65,557,886
Estee Lauder Cos., Inc. (The), Class A		245,663		64,869,772
General Mills, Inc.		1,043,017		73,772,592
Hershey Co. (The)		317,210		71,616,502
Hormel Foods Corp.^(c)		1,286,527		67,401,150
JM Smucker Co. (The)		504,014		69,014,637
Kellogg Co.		1,085,218		74,337,433
Kimberly-Clark Corp.		552,419		76,692,330
Kraft Heinz Co. (The)		1,737,976		74,089,917
Kroger Co. (The)		1,162,071		62,705,351
Lamb Weston Holdings, Inc.		1,282,484		84,772,192

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


	Shares		Value
Consumer Staples-(continued)
McCormick & Co., Inc.		672,919	$	67,675,464
Molson Coors Beverage Co., Class B^(c)		1,277,621		69,170,401
Mondelez International, Inc., Class A		1,098,340		70,820,963
Monster Beverage Corp.^(b)		886,638		75,967,144
PepsiCo, Inc.		422,286		72,510,729
Philip Morris International, Inc.		730,543		73,054,300
Procter & Gamble Co. (The)		453,548		72,817,131
Sysco Corp.		834,417		71,325,965
Tyson Foods, Inc., Class A		741,038		69,035,100
Walgreens Boots Alliance, Inc.		1,368,591		58,028,258
Walmart, Inc.		457,142		69,938,155

				2,267,254,502

Energy-4.28%
APA Corp.		1,663,778		68,098,434
Baker Hughes Co., Class A		1,725,605		53,528,267
Chevron Corp.		379,979		59,531,310
ConocoPhillips		660,248		63,066,889
Coterra Energy, Inc.		2,534,639		72,972,257
Devon Energy Corp.		1,107,788		64,440,028
Diamondback Energy, Inc.		501,230		63,270,263
EOG Resources, Inc.		562,181		65,640,254
Exxon Mobil Corp.		765,079		65,222,985
Halliburton Co.		1,736,054		61,838,243
Hess Corp.^(c)		686,409		70,748,176
Kinder Morgan, Inc.		3,587,813		65,118,806
Marathon Oil Corp.		2,802,881		69,847,794
Marathon Petroleum Corp.		828,132		72,262,798
Occidental Petroleum Corp.		1,121,365		61,775,998
ONEOK, Inc.		983,242		62,268,716
Phillips 66		804,116		69,765,104
Pioneer Natural Resources Co.^(c)		279,972		65,085,091
Schlumberger N.V.^(c)		1,514,575		59,083,571
Valero Energy Corp.		708,359		78,967,861
Williams Cos., Inc. (The)^(c)		2,036,119		69,818,520

				1,382,351,365

Financials-12.68%
Aflac, Inc.		1,082,791		62,022,268
Allstate Corp. (The)		526,776		66,658,235
American Express Co.		386,919		67,598,618
American International Group, Inc.		1,139,253		66,657,693
Ameriprise Financial, Inc.		238,899		63,425,296
Aon PLC, Class A		216,125		62,241,839
Arthur J. Gallagher & Co.		422,582		71,200,841
Assurant, Inc.		382,847		69,632,212
Bank of America Corp.		1,609,903		57,441,339
Bank of New York Mellon Corp. (The)		1,288,701		54,202,764
Berkshire Hathaway, Inc., Class B^(b)		195,291		63,045,794
BlackRock, Inc.		94,376		58,954,800
Brown & Brown, Inc.		1,035,400		64,174,092
Capital One Financial Corp.^(c)		499,270		62,219,027
Cboe Global Markets, Inc.		569,627		64,356,458
Charles Schwab Corp. (The)		809,318		53,682,063
Chubb Ltd.		322,326		66,544,203
Cincinnati Financial Corp.		533,645		65,456,896
Citigroup, Inc.		1,176,350		56,711,833
Citizens Financial Group, Inc.		1,385,083		54,572,270
CME Group, Inc., Class A		287,332		63,023,401
Comerica, Inc.		737,740		60,420,906
Discover Financial Services		611,978		68,823,046


	Shares		Value
Financials-(continued)
Everest Re Group Ltd.		239,295	$	65,736,729
FactSet Research Systems, Inc.		157,346		63,487,538
Fifth Third Bancorp		1,475,660		55,381,520
First Republic Bank		404,629		60,378,739
Franklin Resources, Inc.^(c)		2,382,272		58,580,068
Globe Life, Inc.		670,673		65,779,608
Goldman Sachs Group, Inc. (The)		199,214		60,857,885
Hartford Financial Services Group, Inc. (The)		969,817		67,819,303
Huntington Bancshares, Inc.		4,411,323		58,008,897
Intercontinental Exchange, Inc.		513,676		59,488,818
Invesco Ltd.^(d)		3,240,408		59,558,699
JPMorgan Chase & Co.		503,822		60,136,194
KeyCorp		2,833,051		54,706,215
Lincoln National Corp.		1,051,728		63,261,439
Loews Corp.		1,067,519		67,082,894
M&T Bank Corp.		376,998		62,822,947
MarketAxess Holdings, Inc.		188,862		49,785,912
Marsh & McLennan Cos., Inc.		434,186		70,207,876
MetLife, Inc.		1,011,411		66,429,474
Moody’s Corp.		213,400		67,536,832
Morgan Stanley		763,077		61,496,375
MSCI, Inc.		141,962		59,801,492
Nasdaq, Inc.		393,881		61,985,053
Northern Trust Corp.		618,034		63,688,404
PNC Financial Services Group, Inc. (The)		356,383		59,195,216
Principal Financial Group, Inc.^(c)		998,315		68,025,184
Progressive Corp. (The)		615,656		66,096,828
Prudential Financial, Inc.		612,351		66,446,207
Raymond James Financial, Inc.		675,592		65,843,196
Regions Financial Corp.		2,963,673		61,407,305
S&P Global, Inc.^(c)		171,119		64,426,346
Signature Bank		224,392		54,358,962
State Street Corp.		781,914		52,364,781
SVB Financial Group^(b)		122,573		59,771,498
Synchrony Financial		1,853,422		68,224,464
T. Rowe Price Group, Inc.^(c)		476,442		58,621,424
Travelers Cos., Inc. (The)		373,870		63,954,202
Truist Financial Corp.		1,136,519		54,950,694
U.S. Bancorp		1,233,219		59,885,115
W.R. Berkley Corp.		1,032,225		68,632,640
Wells Fargo & Co.		1,339,677		58,450,108
Willis Towers Watson PLC		294,001		63,169,055
Zions Bancorporation N.A.		1,011,257		57,146,133

				4,098,054,163

Health Care-12.80%
Abbott Laboratories		569,529		64,641,542
AbbVie, Inc.		436,695		64,141,762
ABIOMED, Inc.^(b)(c)		226,278		64,846,749
Agilent Technologies, Inc.		498,445		59,449,535
Align Technology, Inc.^(b)		161,893		46,934,400
AmerisourceBergen Corp.		449,586		68,017,866
Amgen, Inc.		283,777		66,173,959
Anthem, Inc.		137,068		68,798,541
Baxter International, Inc.^(c)		845,184		60,058,775
Becton, Dickinson and Co.		261,385		64,611,758
Biogen, Inc.^(b)		328,517		68,147,566
Bio-Rad Laboratories, Inc., Class A^(b)		122,732		62,846,148
Bio-Techne Corp.		161,826		61,443,714

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


	Shares		Value
Health Care-(continued)
Boston Scientific Corp.^(b)		1,557,217	$	65,574,408
Bristol-Myers Squibb Co.		943,843		71,043,063
Cardinal Health, Inc.		1,235,058		71,695,117
Catalent, Inc.^(b)		675,661		61,187,860
Centene Corp.^(b)		779,011		62,749,336
Cerner Corp.		695,534		65,129,804
Charles River Laboratories International, Inc.^(b)		250,013		60,380,640
Cigna Corp.		286,215		70,632,138
Cooper Cos., Inc. (The)		170,996		61,736,396
CVS Health Corp.		628,617		60,428,952
Danaher Corp.		247,231		62,087,121
DaVita, Inc.^(b)		590,523		63,994,978
DENTSPLY SIRONA, Inc.		1,331,605		53,250,884
DexCom, Inc.^(b)		166,578		68,060,439
Edwards Lifesciences Corp.^(b)		627,875		66,416,617
Eli Lilly and Co.		244,293		71,365,314
Gilead Sciences, Inc.		1,119,565		66,434,987
HCA Healthcare, Inc.		238,219		51,109,886
Henry Schein, Inc.^(b)		771,545		62,572,300
Hologic, Inc.^(b)		935,301		67,332,319
Humana, Inc.		152,412		67,756,279
IDEXX Laboratories, Inc.^(b)		130,398		56,133,731
Illumina, Inc.^(b)		213,812		63,427,330
Incyte Corp.^(b)		878,206		65,830,322
Intuitive Surgical, Inc.^(b)		237,343		56,796,180
IQVIA Holdings, Inc.^(b)		304,056		66,281,167
Johnson & Johnson		383,208		69,153,716
Laboratory Corp. of America Holdings^(b)		244,521		58,753,506
McKesson Corp.		231,587		71,701,651
Medtronic PLC		625,684		65,296,382
Merck & Co., Inc.		829,822		73,596,913
Mettler-Toledo International, Inc.^(b)		49,407		63,118,925
Moderna, Inc.^(b)		469,652		63,125,925
Molina Healthcare, Inc.^(b)		207,158		64,933,675
Organon & Co.^(c)		1,812,501		58,598,157
PerkinElmer, Inc.		389,626		57,123,068
Pfizer, Inc.		1,291,791		63,388,184
Quest Diagnostics, Inc.		476,408		63,762,447
Regeneron Pharmaceuticals, Inc.^(b)		99,200		65,383,712
ResMed, Inc.		272,537		54,499,224
STERIS PLC^(c)		297,046		66,553,156
Stryker Corp.		262,104		63,235,211
Teleflex, Inc.		193,352		55,225,198
Thermo Fisher Scientific, Inc.		122,750		67,870,930
UnitedHealth Group, Inc.		134,420		68,359,291
Universal Health Services, Inc., Class B^(c)		431,478		52,868,999
Vertex Pharmaceuticals, Inc.^(b)		275,225		75,196,974
Viatris, Inc.		6,480,842		66,947,098
Waters Corp.^(b)		207,249		62,800,592
West Pharmaceutical Services, Inc.		178,715		56,305,948
Zimmer Biomet Holdings, Inc.		546,544		65,995,188
Zoetis, Inc.		350,465		62,119,921

				4,135,433,874

Industrials-14.28%
3M Co.		460,668		66,437,539
A.O. Smith Corp.		988,047		57,731,586
Alaska Air Group, Inc.^(b)(c)		1,330,269		72,353,331


	Shares		Value
Industrials-(continued)
Allegion PLC		583,560	$	66,665,894
American Airlines Group, Inc.^(b)(c)		4,631,560		86,934,381
AMETEK, Inc.		511,590		64,593,353
Boeing Co. (The)^(b)		368,563		54,856,917
C.H. Robinson Worldwide, Inc.^(c)		635,151		67,421,279
Carrier Global Corp.		1,502,675		57,507,372
Caterpillar, Inc.		302,365		63,659,927
Cintas Corp		175,828		69,849,431
Copart, Inc.^(b)		562,286		63,903,804
CSX Corp.		1,871,709		64,274,487
Cummins, Inc.		326,660		61,800,805
Deere & Co.		167,015		63,056,513
Delta Air Lines, Inc.^(b)		2,024,648		87,120,603
Dover Corp.		428,263		57,087,458
Eaton Corp. PLC		441,913		64,086,223
Emerson Electric Co.		698,310		62,973,596
Equifax, Inc.		289,922		59,004,925
Expeditors International of Washington, Inc.		652,347		64,628,017
Fastenal Co.		1,203,250		66,551,757
FedEx Corp.		304,657		60,547,532
Fortive Corp.		1,154,783		66,400,023
Fortune Brands Home & Security, Inc.		774,019		55,148,854
Generac Holdings, Inc.^(b)(c)		230,783		50,629,175
General Dynamics Corp.		279,601		66,134,025
General Electric Co.		703,646		52,456,809
Honeywell International, Inc.		356,210		68,930,197
Howmet Aerospace, Inc.^(c)		1,925,907		65,711,947
Huntington Ingalls Industries, Inc.		314,951		67,002,676
IDEX Corp.		342,592		65,030,813
Illinois Tool Works, Inc.		318,747		62,828,221
Ingersoll Rand, Inc.		1,364,365		59,977,485
J.B. Hunt Transport Services, Inc.		321,233		54,882,658
Jacobs Engineering Group, Inc.		519,507		71,977,695
Johnson Controls International PLC		1,073,698		64,282,299
L3Harris Technologies, Inc.		260,477		60,498,388
Leidos Holdings, Inc.		636,799		65,915,064
Lockheed Martin Corp.		148,422		64,136,115
Masco Corp.		1,208,514		63,676,603
Nielsen Holdings PLC		3,708,441		99,423,303
Nordson Corp.		299,726		64,647,901
Norfolk Southern Corp.		242,863		62,629,510
Northrop Grumman Corp.		149,185		65,551,889
Old Dominion Freight Line, Inc.		210,421		58,943,131
Otis Worldwide Corp.		896,953		65,334,057
PACCAR, Inc.		759,131		63,045,830
Parker-Hannifin Corp.		239,667		64,906,617
Pentair PLC		1,206,974		61,253,931
Quanta Services, Inc.		526,923		61,112,530
Raytheon Technologies Corp.		671,188		63,702,453
Republic Services, Inc.		512,960		68,875,139
Robert Half International, Inc.		596,689		58,660,496
Rockwell Automation, Inc.		252,875		63,893,926
Rollins, Inc.^(c)		2,016,668		67,639,045
Snap-on, Inc.		315,506		67,041,870
Southwest Airlines Co.^(b)		1,613,907		75,401,735
Stanley Black & Decker, Inc.		443,273		53,259,251
Textron, Inc.		938,611		64,998,812
Trane Technologies PLC^(c)		436,358		61,042,121
TransDigm Group, Inc.^(b)		104,181		61,967,901

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


	Shares		Value
Industrials-(continued)
Union Pacific Corp.		243,292	$	57,000,883
United Airlines Holdings, Inc.^(b)(c)		1,862,272		94,044,736
United Parcel Service, Inc., Class B		318,685		57,356,926
United Rentals, Inc.^(b)		201,118		63,657,869
Verisk Analytics, Inc.		356,594		72,763,006
W.W. Grainger, Inc.		137,379		68,693,621
Wabtec Corp.		729,177		65,560,304
Waste Management, Inc.		428,909		70,529,796
Xylem, Inc.		776,350		62,496,175

				4,614,100,541

Information Technology-14.91%
Accenture PLC, Class A		208,633		62,665,008
Adobe, Inc.^(b)		155,904		61,730,189
Advanced Micro Devices, Inc.^(b)		622,446		53,231,582
Akamai Technologies, Inc.^(b)		598,683		67,220,127
Amphenol Corp., Class A		882,063		63,067,505
Analog Devices, Inc.		439,919		67,914,695
ANSYS, Inc.^(b)		221,119		60,960,297
Apple, Inc.		414,949		65,416,710
Applied Materials, Inc.		525,226		57,958,689
Arista Networks, Inc.^(b)		541,678		62,601,726
Autodesk, Inc.^(b)		337,485		63,879,161
Automatic Data Processing, Inc.		306,249		66,817,407
Broadcom, Inc.		112,319		62,268,530
Broadridge Financial Solutions, Inc.		448,832		64,690,156
Cadence Design Systems, Inc.^(b)		447,891		67,564,357
CDW Corp.		381,762		62,295,923
Ceridian HCM Holding, Inc.^(b)		1,057,828		59,375,886
Cisco Systems, Inc.		1,187,285		58,153,219
Citrix Systems, Inc.		642,664		64,330,666
Cognizant Technology Solutions Corp., Class A		738,252		59,724,587
Corning, Inc.		1,781,858		62,703,583
DXC Technology Co.^(b)		2,124,921		60,985,233
Enphase Energy, Inc.^(b)		379,449		61,243,069
EPAM Systems, Inc.^(b)		324,546		86,001,445
F5, Inc.^(b)		333,879		55,894,683
Fidelity National Information Services, Inc.		726,778		72,060,039
Fiserv, Inc.^(b)		689,479		67,513,784
FleetCor Technologies, Inc.^(b)		282,942		70,599,688
Fortinet, Inc.^(b)		232,814		67,285,574
Gartner, Inc.^(b)		232,244		67,478,494
Global Payments, Inc.		511,206		70,024,998
Hewlett Packard Enterprise Co.		3,923,643		60,463,339
HP, Inc.^(c)		1,789,549		65,551,180
Intel Corp.		1,417,067		61,769,951
International Business Machines Corp.		523,898		69,264,555
Intuit, Inc.		147,927		61,944,431
IPG Photonics Corp.^(b)(c)		586,190		55,383,231
Jack Henry & Associates, Inc.^(c)		346,818		65,749,756
Juniper Networks, Inc.		1,959,264		61,756,001
Keysight Technologies, Inc.^(b)		445,030		62,424,358
KLA Corp.		200,801		64,107,727
Lam Research Corp.		134,278		62,541,321
Mastercard, Inc., Class A		199,880		72,632,394
Microchip Technology, Inc.^(c)		940,608		61,327,642
Micron Technology, Inc.		891,886		60,817,706
Microsoft Corp.		232,049		64,398,238


	Shares		Value
Information Technology-(continued)
Monolithic Power Systems, Inc.		163,844	$	64,266,171
Motorola Solutions, Inc.		292,650		62,536,379
NetApp, Inc.		772,036		56,551,637
NortonLifeLock, Inc.^(c)		2,350,934		58,867,387
NVIDIA Corp.		293,649		54,463,080
NXP Semiconductors N.V. (China)		363,853		62,182,478
Oracle Corp.		834,417		61,246,208
Paychex, Inc.		538,687		68,267,804
Paycom Software, Inc.^(b)		214,261		60,308,044
PayPal Holdings, Inc.^(b)		672,577		59,139,696
PTC, Inc.^(b)		624,977		71,378,623
Qorvo, Inc.^(b)		525,268		59,764,993
QUALCOMM, Inc.		426,034		59,512,689
Roper Technologies, Inc.		150,275		70,617,228
salesforce.com, inc.^(b)		328,143		57,733,479
Seagate Technology Holdings PLC		743,614		61,006,093
ServiceNow, Inc.^(b)(c)		126,889		60,665,631
Skyworks Solutions, Inc.		509,046		57,674,912
SolarEdge Technologies, Inc.^(b)(c)		204,447		51,195,573
Synopsys, Inc.^(b)		221,067		63,399,805


		Invesco Annual Report to Shareholders April 30, 2022

		RSP		Invesco S&P 500^®Equal Weight ETF

		EWCO		Invesco S&P 500^®Equal Weight Communication Services ETF

		RCD		Invesco S&P 500^®Equal Weight Consumer Discretionary ETF

		RHS		Invesco S&P 500^®Equal Weight Consumer Staples ETF

		RYE		Invesco S&P 500^®Equal Weight Energy ETF

		RYF		Invesco S&P 500^®Equal Weight Financials ETF

		RYH		Invesco S&P 500^®Equal Weight Health Care ETF

		RGI		Invesco S&P 500^®Equal Weight Industrials ETF

		RTM		Invesco S&P 500^®Equal Weight Materials ETF

		EWRE		Invesco S&P 500^®Equal Weight Real Estate ETF

		RYT		Invesco S&P 500^®Equal Weight Technology ETF

		RYU		Invesco S&P 500^®Equal Weight Utilities ETF

		EWMC		Invesco S&P MidCap 400^®Equal Weight ETF

		EWSC		Invesco S&P SmallCap 600^®Equal Weight ETF



The Market Environment			3

Management’s Discussion of Fund Performance			4

Liquidity Risk Management Program			37

Schedules of Investments

Invesco S&P 500^® Equal Weight ETF (RSP)			38

Invesco S&P 500^® Equal Weight Communication Services ETF (EWCO)			44

Invesco S&P 500^® Equal Weight Consumer Discretionary ETF (RCD)			45

Invesco S&P 500^® Equal Weight Consumer Staples ETF (RHS)			47

Invesco S&P 500^® Equal Weight Energy ETF (RYE)			49

Invesco S&P 500^® Equal Weight Financials ETF (RYF)			50

Invesco S&P 500^® Equal Weight Health Care ETF (RYH)			52

Invesco S&P 500^® Equal Weight Industrials ETF (RGI)			54

Invesco S&P 500^® Equal Weight Materials ETF (RTM)			56

Invesco S&P 500^® Equal Weight Real Estate ETF (EWRE)			58

Invesco S&P 500^® Equal Weight Technology ETF (RYT)			60

Invesco S&P 500^® Equal Weight Utilities ETF (RYU)			62

Invesco S&P MidCap 400^® Equal Weight ETF (EWMC)			64

Invesco S&P SmallCap 600^® Equal Weight ETF (EWSC)			69

Statements of Assets and Liabilities			76

Statements of Operations			80

Statements of Changes in Net Assets			84

Financial Highlights			90

Notes to Financial Statements			104

Report of Independent Registered Public Accounting Firm			117

Fund Expenses			119

Tax Information			121

Trustees and Officers			122

Approval of Investment Advisory Contracts			132


RSP		Management’s Discussion of Fund Performance
RSP		Invesco S&P 500^® Equal Weight ETF (RSP)


	1 Year			3 Years Average Annualized			3 Years Cumulative			5 Years Average Annualized			5 Years Cumulative			10 Years Average Annualized			10 Years Cumulative			Fund Inception
Index	1 Year			3 Years Average Annualized			3 Years Cumulative			5 Years Average Annualized			5 Years Cumulative			10 Years Average Annualized			10 Years Cumulative			Average Annualized			Cumulative
S&P 500^® Equal Weight Index		1.08	%		13.08	%		44.58	%		12.24	%		78.10	%		13.29	%		248.21	%		11.85	%		741.11	%
S&P 500^® Index		0.21			13.85			47.56			13.66			89.68			13.67			260.05			10.45			561.97
Fund
NAV Return		0.88			12.89			43.88			12.04			76.56			12.95			237.97			11.38			676.51
Market Price Return		0.86			12.87			43.79			12.04			76.59			12.95			237.96			11.38			676.35


EWCO		Management’s Discussion of Fund Performance
EWCO		Invesco S&P 500^® Equal Weight Communication Services ETF (EWCO)