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Invesco Semi-Annual Report to Shareholders

  April 30, 2022
   
  IDLB   Invesco FTSE International Low Beta Equal Weight ETF
  EELV   Invesco S&P Emerging Markets Low Volatility ETF
  EEMO   Invesco S&P Emerging Markets Momentum ETF
  IDHD   Invesco S&P International Developed High Dividend Low Volatility ETF
  IDLV   Invesco S&P International Developed Low Volatility ETF
  IDMO   Invesco S&P International Developed Momentum ETF


 

Table of Contents

 

Liquidity Risk Management Program      3  
Schedules of Investments   

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)

     4  

Invesco S&P Emerging Markets Low Volatility ETF (EELV)

     14  

Invesco S&P Emerging Markets Momentum ETF (EEMO)

     18  

Invesco S&P International Developed High Dividend Low Volatility ETF (IDHD)

     22  

Invesco S&P International Developed Low Volatility ETF (IDLV)

     25  

Invesco S&P International Developed Momentum ETF (IDMO)

     29  
Statements of Assets and Liabilities      34  
Statements of Operations      36  
Statements of Changes in Net Assets      38  
Financial Highlights      40  
Notes to Financial Statements      46  
Fund Expenses      56  
Approval of Investment Advisory and Sub-Advisory Contracts      58  

 

  2  

 

 

 

 


 

Liquidity Risk Management Program

 

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.

The Report stated, in relevant part, that during the Program Reporting Period:

 

   

The Program, as adopted and implemented, remained reasonably designed to assess and manage the Funds’ liquidity risk and was operated effectively to achieve that goal;

 

   

Each Fund’s investment strategy remained appropriate for an open-end fund;

 

   

Each Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund;

 

   

The Funds did not breach the 15% limit on Illiquid Investments; and

 

   

The Funds primarily held Highly Liquid Investments and therefore have not adopted an HLIM.

 

  3  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)

April 30, 2022

(Unaudited)

Schedule of Investments

 

        Shares         Value  
Common Stocks & Other Equity Interests-98.18%

 

Australia-5.86%

   

Adbri Ltd.

    3,215     $ 6,571  

AGL Energy Ltd.

    1,378       8,442  

ALS Ltd.

    792       7,212  

Altium Ltd.

    294       6,588  

Ansell Ltd.

    400       7,705  

APA Group

    1,023       8,257  

Appen Ltd.

    1,407       6,458  

Aristocrat Leisure Ltd.

    277       6,440  

ASX Ltd.

    123       7,436  

Aurizon Holdings Ltd.

    2,943       8,393  

BHP Group Ltd.

    210       7,099  

Boral Ltd.

    2,814       7,038  

carsales.com Ltd.

    480       7,069  

Cochlear Ltd.

    45       7,272  

Coles Group Ltd.

    578       7,613  

CSL Ltd.

    40       7,614  

CSR Ltd.

    1,788       7,663  

Domino’s Pizza Enterprises Ltd.

    131       6,964  

EBOS Group Ltd.

    278       7,600  

Evolution Mining Ltd.

    2,407       6,796  

Fortescue Metals Group Ltd.

    547       8,341  

Goodman Group

    456       7,629  

Harvey Norman Holdings Ltd.(a)

    1,950       6,981  

IGO Ltd.

    862       7,991  

Iluka Resources Ltd.

    921       7,263  

Incitec Pivot Ltd.

    3,266       8,891  

Insurance Australia Group Ltd.

    2,308       7,363  

JB Hi-Fi Ltd.

    202       7,521  

Macquarie Group Ltd.

    57       8,216  

Medibank Pvt Ltd.

    3,195       7,196  

Metcash Ltd.

    2,483       8,370  

Newcrest Mining Ltd.

    397       7,486  

NEXTDC Ltd.(b)

    909       7,095  

Northern Star Resources Ltd.

    1,001       6,846  

Orora Ltd.

    2,791       7,826  

Pro Medicus Ltd.(a)

    215       7,030  

Qube Holdings Ltd.

    3,373       6,964  

Ramsay Health Care Ltd.

    162       9,204  

Reece Ltd.

    519       6,309  

Rio Tinto Ltd.

    84       6,697  

Rio Tinto PLC

    92       6,516  

Seven Group Holdings Ltd.

    455       6,365  

Shopping Centres Australasia Property Group

    3,554       7,600  

Sonic Healthcare Ltd.

    295       7,609  

TPG Telecom Ltd.

    1,743       7,200  

Transurban Group

    804       8,084  

Treasury Wine Estates Ltd.

    897       7,046  

Washington H Soul Pattinson & Co. Ltd.

    395       7,691  

Wesfarmers Ltd.

    208       7,216  

Woodside Petroleum Ltd.

    333       7,280  

Woolworths Group Ltd.

    288       7,824  
   

 

 

 
         377,880  
   

 

 

 

Austria-0.44%

   

ANDRITZ AG

    174       7,381  

Telekom Austria AG

    926       6,604  
        Shares         Value  

Austria-(continued)

   

Verbund AG(a)

    78     $ 8,352  

voestalpine AG

    220       5,737  
   

 

 

 
      28,074  
   

 

 

 

Belgium-1.11%

   

Ackermans & van Haaren N.V.

    41       7,310  

Ageas S.A./N.V.

    157       7,527  

Elia Group S.A./N.V.

    51       8,127  

Etablissements Franz Colruyt N.V.

    195       7,173  

Groupe Bruxelles Lambert S.A.

    73       6,898  

Proximus SADP

    370       6,452  

Telenet Group Holding N.V.

    217       6,452  

UCB S.A.

    68       7,738  

Umicore S.A.(a)

    175       6,756  

Warehouses De Pauw C.V.A.

    192       7,369  
   

 

 

 
      71,802  
   

 

 

 

Brazil-0.24%

   

Wheaton Precious Metals Corp.

    179       8,064  

Yara International ASA

    147       7,527  
   

 

 

 
      15,591  
   

 

 

 

Canada-3.39%

   

Agnico Eagle Mines Ltd.

    154       9,011  

Barrick Gold Corp.

    352       7,891  

BCE, Inc.

    150       8,016  

Canadian Imperial Bank of Commerce

    59       6,556  

Canadian National Railway Co.

    60       7,093  

Canadian Pacific Railway Ltd.

    104       7,647  

Canadian Tire Corp. Ltd., Class A

    56       7,753  

Canadian Utilities Ltd., Class A

    288       8,703  

Enbridge, Inc.

    183       8,027  

Fortis, Inc.

    175       8,559  

Franco-Nevada Corp.

    53       8,057  

George Weston Ltd.

    73       9,129  

Great-West Lifeco, Inc.

    278       7,709  

Hydro One Ltd.(c)

    323       8,777  

Intact Financial Corp.

    56       7,875  

Loblaw Cos. Ltd.

    102       9,378  

Metro, Inc.

    153       8,453  

Nutrien Ltd.

    92       9,087  

Restaurant Brands International, Inc.

    145       8,326  

Rogers Communications, Inc., Class B

    152       8,323  

Saputo, Inc.

    335       7,198  

Shaw Communications, Inc., Class B

    269       8,053  

Sun Life Financial, Inc.

    156       7,801  

TC Energy Corp.

    148       7,869  

Teck Resources Ltd., Class B

    210       8,327  

TELUS Corp.

    317       7,972  

Thomson Reuters Corp.

    73       7,336  
   

 

 

 
         218,926  
   

 

 

 

China-1.78%

   

AAC Technologies Holdings, Inc.

    2,827       6,545  

BOC Hong Kong Holdings Ltd.

    2,500       9,019  

Budweiser Brewing Co. APAC Ltd.(c)

    2,400       6,004  

China Travel International Investment Hong Kong Ltd.(b)

    38,000       6,839  

Chow Tai Fook Jewellery Group Ltd.

    3,800       6,346  

 

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

 

  4  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

China-(continued)

   

ESR Cayman Ltd.(b)(c)

    2,699     $ 8,187  

Kerry Logistics Network Ltd.

    3,008       6,866  

Lee & Man Paper Manufacturing Ltd.

    12,510       5,968  

Minth Group Ltd.

    2,538       5,985  

Shui On Land Ltd.

    51,500       7,286  

SITC International Holdings Co. Ltd.

    2,000       6,678  

Tingyi Cayman Islands Holding Corp.

    3,584       6,510  

Towngas Smart Energy Co. Ltd.

    11,319       5,577  

Uni-President China Holdings Ltd.

    7,425       6,519  

Want Want China Holdings Ltd.

    8,132       7,322  

Wharf Holdings Ltd. (The)

    2,000       5,823  

Wilmar International Ltd.

    2,313       7,411  
   

 

 

 
         114,885  
   

 

 

 

Denmark-1.40%

   

Ambu A/S, Class B(a)

    434       5,704  

AP Moller—Maersk A/S, Class A

    1       2,807  

AP Moller—Maersk A/S, Class B

    1       2,869  

Carlsberg A/S, Class B

    56       7,088  

Chr. Hansen Holding A/S

    105       8,182  

Coloplast A/S, Class B

    49       6,616  

Danske Bank A/S

    466       7,065  

DSV A/S

    42       6,861  

GN Store Nord A/S(a)

    151       5,629  

H Lundbeck A/S

    297       6,829  

Novo Nordisk A/S, Class B

    72       8,235  

Novozymes A/S, Class B(a)

    115       7,990  

Royal Unibrew A/S

    80       6,842  

Tryg A/S

    330       7,822  
   

 

 

 
      90,539  
   

 

 

 

Finland-1.22%

   

Elisa OYJ

    134       7,832  

Huhtamaki OYJ

    221       8,284  

Kesko OYJ, Class B

    277       6,989  

Kojamo OYJ

    318       6,273  

Kone OYJ, Class B

    136       6,526  

Nordea Bank Abp

    703       6,979  

Orion OYJ, Class B

    163       6,377  

Sampo OYJ, Class A

    166       7,999  

Stora Enso OYJ, Class R

    407       7,965  

UPM-Kymmene OYJ(a)

    223       7,660  

Valmet OYJ

    215       5,754  
   

 

 

 
      78,638  
   

 

 

 

France-4.21%

   

Air Liquide S.A.

    45       7,769  

ALD S.A.(c)

    563       7,659  

Arkema S.A.

    58       6,546  

BioMerieux

    78       7,400  

Bollore SE

    1,502       6,975  

Bouygues S.A.(a)

    211       7,250  

Bureau Veritas S.A.

    260       7,451  

Carrefour S.A.

    377       7,992  

Cie de L’Odet SE

    6       6,928  

Cie de Saint-Gobain

    124       7,216  

Cie Generale des Etablissements Michelin S.C.A.

    56       6,923  

Danone S.A.(a)

    127       7,635  

Dassault Aviation S.A.

    51       8,619  

Dassault Systemes SE

    153       6,806  

Edenred

    163       8,170  
        Shares         Value  

France-(continued)

   

ENGIE S.A.(a)

    552     $ 6,484  

EssilorLuxottica S.A.

    45       7,634  

Gecina S.A.

    62       6,946  

Hermes International

    6       7,382  

Ipsen S.A.

    65       6,745  

Kering S.A.

    11       5,843  

La Francaise des Jeux SAEM(c)

    184       6,846  

Legrand S.A.

    79       6,973  

L’Oreal S.A.(a)

    19       6,912  

LVMH Moet Hennessy Louis Vuitton SE(a)

    11       7,039  

Orange S.A.

    616       7,337  

Pernod Ricard S.A.

    36       7,417  

Publicis Groupe S.A.

    118       7,063  

Remy Cointreau S.A.

    40       7,921  

Sanofi(a)

    74       7,789  

Sartorius Stedim Biotech

    20       6,510  

Schneider Electric SE

    48       6,836  

SEB S.A.

    52       6,234  

SOITEC(b)

    46       8,237  

Somfy S.A.

    43       5,726  

Teleperformance

    20       7,151  

Ubisoft Entertainment S.A.(b)

    141       6,366  

Vivendi SE(a)

    597       6,846  
   

 

 

 
         271,576  
   

 

 

 

Germany-4.77%

   

1&1 AG

    306       6,426  

adidas AG

    33       6,721  

Beiersdorf AG

    74       7,480  

Brenntag SE

    93       7,254  

Carl Zeiss Meditec AG, BR

    47       5,936  

Commerzbank AG(b)

    976       6,468  

Covestro AG(c)

    145       6,316  

Deutsche Bank AG(b)

    640       6,536  

Deutsche Boerse AG

    46       8,065  

Deutsche Post AG

    153       6,605  

Deutsche Telekom AG

    414       7,626  

Deutsche Wohnen SE

    180       5,176  

DWS Group GmbH & Co. KGaA(c)

    210       6,952  

E.ON SE

    596       6,244  

Evotec SE(b)

    255       6,194  

Fielmann AG

    130       6,610  

Fresenius Medical Care AG & Co. KGaA

    118       7,399  

Fuchs Petrolub SE

    67       1,788  

Fuchs Petrolub SE, Preference Shares

    138       4,394  

GEA Group AG

    176       6,914  

Hannover Rueck SE

    43       6,755  

HelloFresh SE(b)

    159       6,807  

Henkel AG & Co. KGaA

    38       2,429  

Henkel AG & Co. KGaA, Preference Shares

    64       4,143  

KION Group AG

    97       5,470  

Knorr-Bremse AG

    90       6,489  

LEG Immobilien SE

    58       5,972  

Mercedes-Benz Group AG

    106       7,503  

Merck KGaA

    39       7,232  

METRO AG(b)

    864       7,597  

MTU Aero Engines AG

    32       6,472  

Nemetschek SE

    84       6,744  

Puma SE

    87       6,487  

Rational AG

    11       6,771  

 

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

 

  5  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

Germany-(continued)

   

Rheinmetall AG

    44     $ 9,946  

RWE AG

    179       7,476  

Sartorius AG

    1       336  

Sartorius AG, Preference Shares

    16       6,061  

Scout24 SE(c)

    125       7,976  

Siemens AG

    54       6,710  

Siemens Healthineers AG(c)

    117       6,327  

Symrise AG

    63       7,540  

Telefonica Deutschland Holding AG

    2,737       8,284  

United Internet AG

    223       7,229  

Varta AG

    74       6,962  

Vonovia SE

    142       5,678  

Wacker Chemie AG

    48       7,742  

Zalando SE(b)(c)

    129       5,116  
   

 

 

 
         307,358  
   

 

 

 

Hong Kong-3.42%

   

Cafe de Coral Holdings Ltd.

    5,074       7,909  

CK Infrastructure Holdings Ltd.

    1,500       10,094  

CLP Holdings Ltd.

    1,013       9,862  

Dairy Farm International Holdings Ltd.

    2,839       7,648  

Guotai Junan International Holdings Ltd.

    56,000       6,073  

Hang Lung Group Ltd.

    4,000       7,804  

Hang Lung Properties Ltd.

    3,462       6,603  

Hang Seng Bank Ltd.

    445       7,858  

Hong Kong & China Gas Co. Ltd. (The)

    5,143       5,667  

Hong Kong Exchanges & Clearing Ltd.

    159       6,744  

Hutchison Port Holdings Trust, Class U

    30,000       7,165  

Hutchison Telecommunications Hong Kong Holdings Ltd.

    46,178       7,690  

Jardine Matheson Holdings Ltd.

    180       9,512  

Johnson Electric Holdings Ltd., H Shares

    5,000       5,716  

Kerry Properties Ltd.

    2,886       7,761  

Lifestyle International Holdings Ltd.(b)

    13,000       6,249  

Link REIT

    1,000       8,624  

Mapletree North Asia Commercial Trust(c)

    9,500       8,182  

New World Development Co. Ltd.

    2,000       7,649  

PCCW Ltd.

    14,000       7,939  

Power Assets Holdings Ltd.

    1,306       8,776  

Shun Tak Holdings Ltd.(b)

    30,000       6,060  

Sino Land Co. Ltd.

    6,997       9,222  

Sun Hung Kai Properties Ltd.

    749       8,630  

Swire Properties Ltd.

    3,200       7,622  

Techtronic Industries Co. Ltd.

    466       6,222  

Vinda International Holdings Ltd.(a)

    2,706       6,525  

VTech Holdings Ltd.

    1,047       7,392  

WH Group Ltd.

    10,803       7,436  
   

 

 

 
      220,634  
   

 

 

 

Indonesia-0.24%

   

First Pacific Co. Ltd.

    20,000       8,045  

Golden Agri-Resources Ltd.

    32,700       7,642  
   

 

 

 
      15,687  
   

 

 

 

Ireland-0.32%

   

CRH PLC

    169       6,686  

Kerry Group PLC, Class A

    65       7,181  

Smurfit Kappa Group PLC

    162       6,791  
   

 

 

 
      20,658  
   

 

 

 
        Shares         Value  

Israel-2.19%

   

Bezeq The Israeli Telecommunication Corp. Ltd.(b)

    4,650     $ 7,373  

Camtek Ltd.(b)

    231       6,723  

Elco Ltd.

    88       6,847  

Electra Ltd.

    10       6,869  

Energix-Renewable Energies Ltd.

    1,784       6,084  

First International Bank of Israel Ltd. (The)

    184       7,721  

Fox Wizel Ltd.

    44       6,414  

Gav-Yam Lands Corp. Ltd.

    596       6,539  

Harel Insurance Investments & Financial Services Ltd.

    641       7,837  

Maytronics Ltd.

    355       6,323  

Mizrahi Tefahot Bank Ltd.

    203       7,505  

Nice Ltd.(b)

    33       6,822  

Nova Ltd.(b)

    71       6,795  

Sapiens International Corp. N.V.

    283       6,612  

Shapir Engineering and Industry Ltd.

    784       7,317  

Shikun & Binui Ltd.(b)

    1,239       7,312  

Shufersal Ltd.

    862       7,265  

Strauss Group Ltd.

    241       6,430  

Teva Pharmaceutical Industries Ltd.(b)

    962       8,460  

Tower Semiconductor Ltd.(b)

    162       7,786  
   

 

 

 
         141,034  
   

 

 

 

Italy-2.70%

   

A2A S.p.A.

    4,412       7,521  

Amplifon S.p.A.

    177       7,043  

Assicurazioni Generali S.p.A.(a)

    386       7,285  

Atlantia S.p.A.(b)

    418       9,923  

Buzzi Unicem S.p.A.

    402       7,395  

Davide Campari-Milano N.V.

    715       8,047  

De Longhi S.p.A.(a)

    236       5,709  

DiaSorin S.p.A.(a)

    52       6,797  

Enel S.p.A.

    1,079       6,974  

Ferrari N.V.

    36       7,594  

FinecoBank Banca Fineco S.p.A.

    474       6,530  

Hera S.p.A.(a)

    2,022       7,521  

Infrastrutture Wireless Italiane
S.p.A.(c)

    737       7,852  

Interpump Group S.p.A.

    141       5,674  

Italgas S.p.A.

    1,189       7,676  

Mediobanca Banca di Credito Finanziario S.p.A.

    768       7,636  

Moncler S.p.A.

    132       6,856  

Nexi S.p.A.(b)(c)

    574       5,642  

Prysmian S.p.A.

    217       7,035  

Recordati Industria Chimica e Farmaceutica S.p.A.

    155       7,420  

Reply S.p.A.(a)

    46       6,749  

Snam S.p.A.(a)

    1,385       7,601  

Terna Rete Elettrica Nazionale
S.p.A.(a)

    913       7,437  

UnipolSai Assicurazioni S.p.A.(a)

    2,841       7,953  
   

 

 

 
      173,870  
   

 

 

 

Japan-34.53%

   

ABC-Mart, Inc.

    200       8,259  

Acom Co. Ltd.

    2,900       7,483  

Activia Properties, Inc.

    2       6,391  

Advance Residence Investment Corp.

    3       8,255  

AEON Financial Service Co. Ltd.

    800       7,347  

Aeon Mall Co. Ltd.

    600       7,285  

AEON REIT Investment Corp.

    6       6,896  

AGC, Inc.

    200       7,524  

Aica Kogyo Co. Ltd.

    319       7,376  

Ain Holdings, Inc.(a)

    150       6,761  

 

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

 

  6  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

Japan-(continued)

   

Aisin Corp.

    200     $        5,815  

Ajinomoto Co., Inc.

    245       6,388  

Alfresa Holdings Corp.

    470       6,412  

Alps Alpine Co. Ltd.

    800       7,052  

Amano Corp.

    399       7,701  

Anritsu Corp.

    553       6,980  

Ariake Japan Co. Ltd.

    188       7,543  

As One Corp.

    140       7,364  

Asahi Kasei Corp.

    900       7,419  

ASKUL Corp.

    530       6,437  

Astellas Pharma, Inc.

    488       7,450  

Azbil Corp.

    226       6,910  

Benesse Holdings, Inc.

    382       6,703  

Bic Camera, Inc.(a)

    851       7,185  

BIPROGY, Inc.

    300       7,641  

Bridgestone Corp.

    221       8,102  

Calbee, Inc.

    374       6,712  

Canon Marketing Japan, Inc.

    356       7,746  

Canon, Inc.

    345       7,941  

Capcom Co. Ltd.

    334       8,828  

Chiba Bank Ltd. (The)

    1,400       8,061  

Chugoku Bank Ltd. (The)

    1,060       7,808  

Concordia Financial Group Ltd.

    2,000       7,286  

Cosmo Energy Holdings Co. Ltd.

    300       7,433  

Cosmos Pharmaceutical Corp.

    57       5,304  

Credit Saison Co. Ltd.

    700       7,862  

Dai Nippon Printing Co. Ltd.

    320       6,698  

Daicel Corp.

    1,057       6,450  

Dai-ichi Life Holdings, Inc.

    400       8,041  

Daito Trust Construction Co. Ltd.

    70       6,749  

Daiwa House REIT Investment Corp.

    3       7,294  

Daiwa Office Investment Corp.

    1       5,681  

Daiwa Securities Group, Inc.

    1,300       6,371  

DeNA Co. Ltd.(b)

    500       7,256  

Denka Co. Ltd.

    300       8,036  

Denso Corp.

    123       7,519  

Descente Ltd.

    300       5,820  

DIC Corp.

    352       6,704  

Disco Corp.

    36       8,888  

Eisai Co. Ltd.

    163       7,111  

Electric Power Development Co. Ltd.

    460       6,345  

ENEOS Holdings, Inc.

    1,900       6,671  

Ezaki Glico Co. Ltd.

    256       7,369  

FANUC Corp.

    40       6,197  

Fast Retailing Co. Ltd.

    15       6,885  

FP Corp.

    255       5,733  

Fuji Electric Co. Ltd.

    200       8,825  

Fuji Media Holdings, Inc.

    700       6,049  

Fuji Oil Holdings, Inc.

    447       6,368  

FUJIFILM Holdings Corp.

    122       6,754  

Fukuoka Financial Group, Inc.

    400       7,314  

Furukawa Electric Co. Ltd.

    369       6,018  

Fuyo General Lease Co. Ltd.

    147       7,956  

GLP J-Reit

    5       6,727  

GMO internet, Inc.

    325       6,554  

GMO Payment Gateway, Inc.

    77       6,512  

GOLDWIN, Inc.

    169       8,399  

GungHo Online Entertainment, Inc.

    350       7,175  

H.U. Group Holdings, Inc.

    340       7,607  

Hachijuni Bank Ltd. (The)

    2,044       6,740  
        Shares         Value  

Japan-(continued)

   

Haseko Corp.

    600     $        6,574  

Heiwa Corp.

    460       6,891  

Hikari Tsushin, Inc.

    60       6,946  

Hino Motors Ltd.

    900       4,663  

Hirogin Holdings, Inc.(a)

    1,400       6,937  

Hirose Electric Co. Ltd.

    60       7,653  

Hitachi Ltd.

    200       9,329  

Hitachi Metals Ltd.(b)

    500       7,826  

Hitachi Transport System Ltd.

    145       9,558  

Horiba Ltd.

    144       7,019  

House Foods Group, Inc.

    317       7,429  

Hulic Co. Ltd.

    893       7,545  

Ibiden Co. Ltd.

    188       7,134  

Idemitsu Kosan Co. Ltd.

    289       7,595  

Industrial & Infrastructure Fund Investment Corp.

    5       7,181  

Information Services International-Dentsu Ltd.

    261       7,460  

Inpex Corp.

    700       8,277  

Internet Initiative Japan, Inc.

    239       7,546  

ITOCHU Corp.

    242       7,333  

Itochu Techno-Solutions Corp.

    325       7,663  

Itoham Yonekyu Holdings, Inc.

    1,333       6,759  

Iyo Bank Ltd. (The)

    1,496       7,250  

Izumi Co. Ltd.

    318       6,867  

Japan Aviation Electronics Industry Ltd.

    500       7,006  

Japan Exchange Group, Inc.

    428       6,429  

Japan Hotel REIT Investment Corp.

    16       8,076  

Japan Logistics Fund, Inc.

    3       7,363  

Japan Post Bank Co. Ltd.

    930       7,049  

Japan Post Holdings Co. Ltd.

    986       6,921  

Japan Post Insurance Co. Ltd.

    500       8,124  

Japan Prime Realty Investment Corp.

    2       6,078  

Japan Real Estate Investment Corp.

    1       4,841  

Japan Steel Works Ltd. (The)

    245       6,927  

Japan Tobacco, Inc.

    438       7,506  

JCR Pharmaceuticals Co. Ltd.

    400       7,397  

Jeol Ltd.

    147       6,696  

JTEKT Corp.

    1,000       6,973  

JustSystems Corp.

    170       7,389  

Kagome Co. Ltd.

    279       6,990  

Kaken Pharmaceutical Co. Ltd.

    221       6,701  

Kamigumi Co. Ltd.

    396       6,742  

Kandenko Co. Ltd.

    1,060       6,731  

Kansai Electric Power Co., Inc. (The)

    718       6,318  

Kao Corp.

    174       7,009  

Katitas Co. Ltd.

    300       7,025  

KDDI Corp.

    231       7,672  

Kenedix Office Investment Corp.

    1       5,222  

Kewpie Corp.

    418       7,085  

Keyence Corp.

    17       6,870  

Kinden Corp.

    602       7,132  

Kintetsu Group Holdings Co. Ltd.

    300       8,628  

Kobayashi Pharmaceutical Co. Ltd.

    129       8,828  

Kobe Bussan Co. Ltd.

    259       6,318  

Kokuyo Co. Ltd.

    577       7,532  

Komatsu Ltd.

    400       8,988  

Kose Corp.

    85       8,818  

K’s Holdings Corp.

    700       6,958  

Kuraray Co. Ltd.

    900       7,218  

Kusuri no Aoki Holdings Co. Ltd.

    152       6,746  

Kyocera Corp.

    160       8,475  

 

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

 

  7  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

Japan-(continued)

   

Kyushu Electric Power Co., Inc.

    1,000     $        6,308  

Kyushu Financial Group, Inc.

    2,220       6,820  

Kyushu Railway Co.

    400       7,866  

LaSalle Logiport REIT

    5       6,785  

Lawson, Inc.

    204       7,511  

Lintec Corp.

    358       6,717  

Lion Corp.

    670       6,912  

Mabuchi Motor Co. Ltd.

    238       6,381  

Mani, Inc.

    581       6,575  

Marui Group Co. Ltd.

    400       6,907  

Maruichi Steel Tube Ltd.

    304       6,497  

Maruwa Unyu Kikan Co. Ltd.

    847       9,944  

Matsui Securities Co. Ltd.

    1,098       6,809  

Mebuki Financial Group, Inc.

    3,400       6,876  

Medipal Holdings Corp.

    417       6,843  

MEIJI Holdings Co. Ltd.

    161       8,052  

Menicon Co. Ltd.

    308       6,597  

MISUMI Group, Inc.

    260       6,551  

Mitsubishi Chemical Holdings Corp.

    1,100       6,733  

Mitsubishi Corp.

    237       7,966  

Mitsubishi Heavy Industries Ltd.

    300       10,269  

Mitsubishi Materials Corp.

    400       6,277  

Mitsubishi UFJ Financial Group, Inc.

    1,300       7,569  

Mitsui & Co. Ltd.

    300       7,294  

Mitsui Fudosan Logistics Park, Inc.

    2       8,575  

Mitsui Mining & Smelting Co. Ltd.

    300       7,641  

Mizuho Financial Group, Inc.

    600       7,310  

MonotaRO Co. Ltd.

    362       6,287  

Mori Hills REIT Investment Corp.

    7       7,932  

Morinaga & Co. Ltd.

    237       7,362  

Morinaga Milk Industry Co. Ltd.

    166       6,716  

MS&AD Insurance Group Holdings, Inc.

    245       7,339  

Nagase & Co. Ltd.

    500       7,172  

Nankai Electric Railway Co. Ltd.

    363       6,495  

NEC Networks & System Integration Corp.

    534       7,594  

Nexon Co. Ltd.

    357       8,166  

NGK Insulators Ltd.

    500       6,739  

NGK Spark Plug Co. Ltd.

    500       7,687  

NH Foods Ltd.

    258       8,175  

NHK Spring Co. Ltd.

    1,100       7,125  

Nichirei Corp.

    382       7,022  

Nihon Kohden Corp.

    298       7,196  

Nintendo Co. Ltd.

    21       9,694  

Nippon Accommodations Fund, Inc.

    1       4,923  

Nippon Building Fund, Inc.

    1       5,189  

Nippon Electric Glass Co. Ltd.

    300       6,074  

Nippon Kayaku Co. Ltd.

    800       6,979  

Nippon Prologis REIT, Inc.

    3       8,337  

Nippon Shinyaku Co. Ltd.

    128       8,683  

Nippon Shokubai Co. Ltd.

    200       8,111  

Nippon Telegraph & Telephone Corp.

    276       8,167  

Nippon Television Holdings, Inc.

    730       7,017  

Nipro Corp.

    900       7,112  

Nishi-Nippon Railroad Co. Ltd.

    400       8,027  

Nissan Chemical Corp.

    142       7,537  

Nisshin Seifun Group, Inc.

    608       8,092  

Nissin Foods Holdings Co. Ltd.

    131       9,151  

Nitori Holdings Co. Ltd.

    55       5,605  

Nitto Denko Corp.

    116       7,802  

Noevir Holdings Co. Ltd.

    199       7,817  
        Shares         Value  

Japan-(continued)

   

NOK Corp.

    800     $        6,832  

Nomura Real Estate Master Fund, Inc.

    6       7,523  

Nomura Research Institute Ltd.

    267       7,578  

NS Solutions Corp.

    297       8,896  

NSK Ltd.

    1,300       7,192  

Obayashi Corp.

    1,000       6,902  

Oji Holdings Corp.

    1,590       7,533  

Ono Pharmaceutical Co. Ltd.

    321       8,258  

Orient Corp.(a)

    7,000       6,744  

ORIX JREIT, Inc.

    6       8,063  

Osaka Gas Co. Ltd.

    421       7,620  

OSG Corp.

    500       6,278  

Otsuka Corp.

    197       6,478  

Paltac Corp.

    236       8,618  

Pan Pacific International Holdings Corp.

    507       7,870  

Panasonic Holdings Corp.

    800       7,142  

PeptiDream, Inc.(b)

    400       6,458  

Pigeon Corp.

    464       7,876  

Pola Orbis Holdings, Inc.

    561       6,496  

Relo Group, Inc.

    500       7,187  

Renesas Electronics Corp.(b)

    700       7,507  

Rengo Co. Ltd.

    1,159       6,876  

Resona Holdings, Inc.(a)

    1,700       7,389  

Rohm Co. Ltd.

    100       7,051  

Rohto Pharmaceutical Co. Ltd.

    241       6,441  

Ryohin Keikaku Co. Ltd.

    500       4,497  

Sankyo Co. Ltd.

    320       9,232  

Sansan, Inc.(b)

    783       7,510  

Santen Pharmaceutical Co. Ltd.

    692       5,663  

Sanwa Holdings Corp.

    700       6,395  

Sawai Group Holdings Co. Ltd.

    200       6,723  

SBI Holdings, Inc.

    300       6,725  

Secom Co. Ltd.

    133       9,398  

Sega Sammy Holdings, Inc.

    467       8,306  

Sekisui Chemical Co. Ltd.

    500       6,764  

Sekisui House REIT, Inc.(a)

    12       7,043  

Seven & i Holdings Co. Ltd.

    166       7,326  

Seven Bank Ltd.

    3,700       6,930  

SHIFT, Inc.(b)

    44       8,364  

Shimamura Co. Ltd.

    113       10,037  

Shimano, Inc.

    34       5,952  

Shimizu Corp.

    1,200       6,314  

Shinsei Bank Ltd.(b)

    410       7,195  

Ship Healthcare Holdings, Inc.

    404       6,780  

Shiseido Co. Ltd.

    146       6,892  

Shizuoka Bank Ltd. (The)

    1,074       6,972  

SHO-BOND Holdings Co. Ltd.

    224       9,454  

Skylark Holdings Co. Ltd.

    600       7,137  

Softbank Corp.

    652       7,589  

SoftBank Group Corp.

    181       7,319  

Sohgo Security Services Co. Ltd.

    229       6,382  

Sojitz Corp.

    475       7,272  

Sompo Holdings, Inc.

    230       9,382  

Sony Group Corp.

    97       8,351  

Square Enix Holdings Co. Ltd.

    173       6,938  

Stanley Electric Co. Ltd.

    364       6,277  

Subaru Corp.

    500       7,535  

Sugi Holdings Co. Ltd.

    134       5,771  

Sumitomo Bakelite Co. Ltd.

    200       6,601  

Sumitomo Chemical Co. Ltd.

    1,600       6,787  

 

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

 

  8  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

Japan-(continued)

   

Sumitomo Corp.

    500     $ 7,943  

Sumitomo Electric Industries Ltd.

    657       7,065  

Sumitomo Forestry Co. Ltd.

    400       6,151  

Sumitomo Heavy Industries Ltd.

    300       6,348  

Sumitomo Metal Mining Co. Ltd.

    200       8,706  

Sumitomo Mitsui Financial Group, Inc.

    200       6,031  

Sumitomo Mitsui Trust Holdings, Inc.

    237       7,354  

Sumitomo Rubber Industries Ltd.

    900       7,802  

Sundrug Co. Ltd.

    304       7,086  

Suzuken Co. Ltd.

    240       7,113  

Taiheiyo Cement Corp.

    400       6,482  

Taisho Pharmaceutical Holdings Co. Ltd.

    166       6,521  

Takara Bio, Inc.

    352       5,679  

TBS Holdings, Inc.

    500       6,572  

TDK Corp.

    188       5,882  

THK Co. Ltd.

    357       7,109  

TIS, Inc.

    358       8,071  

Tobu Railway Co. Ltd.

    300       6,754  

Toda Corp.

    1,215       7,024  

Toho Co. Ltd.

    200       7,436  

Tokai Carbon Co. Ltd.

    793       6,559  

Tokio Marine Holdings, Inc.

    149       8,054  

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

    2,200       7,607  

Tokyo Gas Co. Ltd.

    421       8,094  

Tokyo Ohka Kogyo Co. Ltd.

    161       8,830  

Tokyu Corp.

    600       7,349  

Toshiba Corp.

    237       9,919  

Toshiba TEC Corp.

    239       8,163  

Tosoh Corp.

    467       6,447  

Toyo Seikan Group Holdings Ltd.

    600       6,511  

Toyo Suisan Kaisha Ltd.

    196       6,059  

Toyoda Gosei Co. Ltd.

    400       5,784  

Toyota Boshoku Corp.

    452       7,231  

Toyota Motor Corp.

    480       8,193  

Trend Micro, Inc.

    183       10,212  

TS Tech Co. Ltd.

    600       6,213  

Tsumura & Co.

    304       7,481  

Tsuruha Holdings, Inc.

    100       5,125  

UBE Corp.

    400       6,250  

Ulvac, Inc.

    200       7,915  

Unicharm Corp.

    232       8,083  

United Urban Investment Corp.

    7       7,642  

Ushio, Inc.

    500       6,539  

USS Co. Ltd.

    500       8,266  

Welcia Holdings Co. Ltd.

    289       5,976  

Yakult Honsha Co. Ltd.

    176       9,129  

Yamada Holdings Co. Ltd.(b)

    2,200       6,565  

Yamaguchi Financial Group, Inc.

    1,283       7,035  

Yamato Holdings Co. Ltd.

    393       7,383  

Yamato Kogyo Co. Ltd.

    247       8,007  

Yamazaki Baking Co. Ltd.(a)

    601       7,450  

Yaoko Co. Ltd.

    156       8,259  

Yokohama Rubber Co. Ltd. (The)

    600       8,018  

Z Holdings Corp.

    1,600       6,320  

Zenkoku Hosho Co. Ltd.

    200       7,032  

Zensho Holdings Co. Ltd.

    300       7,099  

Zeon Corp.

    663       7,111  

ZOZO, Inc.

    266       5,439  
   

 

 

 
      2,227,700  
   

 

 

 
        Shares         Value  

Jordan-0.10%

   

Hikma Pharmaceuticals PLC

    275     $ 6,464  
   

 

 

 

Luxembourg-0.34%

   

Eurofins Scientific SE

    75       6,970  

L’Occitane International S.A.

    2,400       7,548  

RTL Group S.A.(a)

    136       7,099  
   

 

 

 
      21,617  
   

 

 

 

Mexico-0.12%

   

Fresnillo PLC(a)

    786       7,719  
   

 

 

 

Netherlands-2.05%

   

Aalberts N.V.

    140       6,749  

ABN AMRO Bank N.V., CVA(a)(c)

    604       7,534  

Aegon N.V.

    1,549       8,013  

Akzo Nobel N.V.

    82       7,075  

ASR Nederland N.V.

    179       8,100  

Euronext N.V.(c)

    85       6,824  

Heineken Holding N.V.

    95       7,405  

Heineken N.V.(a)

    77       7,510  

JDE Peet’s N.V.(a)

    229       6,726  

Koninklijke Ahold Delhaize N.V.(a)

    246       7,267  

Koninklijke DSM N.V.

    41       6,867  

Koninklijke KPN N.V.(a)

    2,177       7,530  

Koninklijke Philips N.V.

    229       6,008  

Koninklijke Vopak N.V.

    200       5,356  

NN Group N.V.

    162       7,916  

Prosus N.V.(a)

    123       5,931  

Randstad N.V.

    116       6,134  

Signify N.V.

    149       6,291  

Wolters Kluwer N.V.

    71       7,182  
   

 

 

 
         132,418  
   

 

 

 

New Zealand-0.78%

   

Auckland International Airport Ltd.(b)

    1,538       7,775  

Contact Energy Ltd.

    1,325       6,999  

Infratil Ltd.(a)

    1,345       7,289  

Kiwi Property Group Ltd.

    10,203       6,983  

Mainfreight Ltd.

    134       7,017  

SKYCITY Entertainment Group Ltd.

    3,702       6,953  

Spark New Zealand Ltd.

    2,356       7,497  
   

 

 

 
      50,513  
   

 

 

 

Nigeria-0.11%

   

Airtel Africa PLC(c)

    3,745       6,777  
   

 

 

 

Norway-0.71%

   

Gjensidige Forsikring ASA

    298       6,439  

Nordic Semiconductor ASA(b)

    282       5,671  

Orkla ASA

    820       6,721  

Salmar ASA

    98       8,107  

Schibsted ASA, Class A

    118       2,465  

Schibsted ASA, Class B

    148       2,846  

Telenor ASA

    500       7,102  

TOMRA Systems ASA

    161       6,415  
   

 

 

 
      45,766  
   

 

 

 

Poland-0.47%

   

CD Projekt S.A.(a)

    185       4,994  

Cyfrowy Polsat S.A.

    1,145       6,225  

Dino Polska S.A.(b)(c)

    109       7,026  

 

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

 

  9  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

Poland-(continued)

   

KGHM Polska Miedz S.A.

    181     $ 5,845  

Polskie Gornictwo Naftowe i Gazownictwo S.A.

    4,623       6,472  
   

 

 

 
      30,562  
   

 

 

 

Portugal-0.23%

   

EDP - Energias de Portugal S.A.

    1,616       7,524  

Jeronimo Martins SGPS S.A.

    346       7,178  
   

 

 

 
      14,702  
   

 

 

 

Singapore-2.63%

   

Ascendas REIT

    3,623       7,471  

CapitaLand Integrated Commercial Trust

    4,660       7,809  

Frasers Logistics & Commercial Trust(c)

    7,100       7,396  

Jardine Cycle & Carriage Ltd.

    497       10,374  

Kenon Holdings Ltd.

    134       7,646  

Keppel Corp. Ltd.

    1,700       8,419  

Keppel DC REIT

    4,622       6,914  

Keppel REIT

    8,745       7,685  

Mapletree Commercial Trust

    5,487       7,402  

Mapletree Industrial Trust

    3,957       7,448  

Mapletree Logistics Trust

    5,650       7,290  

NetLink NBN Trust(c)

    10,578       7,649  

Olam Group Ltd.

    5,896       7,216  

Sembcorp Industries Ltd.

    3,800       8,052  

Singapore Exchange Ltd.

    1,141       8,047  

Singapore Post Ltd.

    15,806       8,130  

Singapore Technologies Engineering Ltd.

    2,600       7,670  

StarHub Ltd.

    8,092       7,360  

STMicroelectronics N.V.

    182       6,741  

Suntec REIT

    6,100       8,076  

Venture Corp. Ltd.

    614       7,570  

Wing Tai Holdings Ltd.

    5,695       7,200  
   

 

 

 
         169,565  
   

 

 

 

South Korea-10.46%

   

Amorepacific Corp., Preference Shares

    114       6,841  

BGF retail Co. Ltd.

    55       7,882  

BNK Financial Group, Inc.

    1,169       7,229  

Celltrion Healthcare Co. Ltd.

    1       51  

Celltrion Pharm, Inc.(b)

    2       145  

Cheil Worldwide, Inc.

    394       7,875  

CJ CheilJedang Corp.

    24       7,497  

CJ CheilJedang Corp., Preference Shares

    54       7,605  

CJ Corp.

    108       7,406  

CJ ENM Co. Ltd.

    70       6,991  

CJ Logistics Corp.(b)

    69       6,683  

Coway Co. Ltd.

    124       6,942  

DB Insurance Co. Ltd.

    152       8,095  

DGB Financial Group, Inc.

    979       6,878  

DL Holdings Co. Ltd.

    149       7,268  

Dongsuh Cos., Inc.

    325       6,865  

Doosan Bobcat, Inc.

    230       7,441  

Doosan Enerbility(b)

    420       6,695  

Ecopro BM Co. Ltd.

    23       8,391  

E-MART, Inc.

    69       7,141  

Fila Holdings Corp.

    250       6,388  

GS Engineering & Construction Corp.

    206       6,801  

GS Holdings Corp.

    214       7,390  

GS Retail Co. Ltd.

    329       7,487  

Hana Financial Group, Inc.

    193       7,189  

Hankook Tire & Technology Co. Ltd.

    263       7,201  
        Shares         Value  

South Korea-(continued)

   

Hanssem Co. Ltd.

    122     $        7,542  

Hanwha Aerospace Co. Ltd.

    165       6,966  

Hanwha Corp.

    223       5,276  

Hanwha Corp., Preference Shares

    120       1,510  

Hanwha Solutions Corp.(b)

    241       6,020  

Hite Jinro Co. Ltd.

    248       7,311  

Hotel Shilla Co. Ltd.

    111       7,078  

Hyundai Department Store Co. Ltd.

    114       6,793  

Hyundai Doosan Infracore Co. Ltd.(b)

    1,287       6,646  

Hyundai Engineering & Construction Co. Ltd.

    202       7,045  

Hyundai Glovis Co. Ltd.

    51       8,355  

Hyundai Marine & Fire Insurance Co. Ltd.

    326       8,363  

Hyundai Mobis Co. Ltd.

    40       6,534  

Hyundai Motor Co.

    44       6,393  

Hyundai Motor Co., First Pfd

    7       521  

Hyundai Motor Co., Second Pfd.

    12       898  

Iljin Materials Co. Ltd.

    98       6,732  

Industrial Bank of Korea

    846       7,495  

Kakao Games Corp.(b)

    118       5,560  

KB Financial Group, Inc.

    156       7,209  

KCC Corp.

    28       7,439  

KEPCO Plant Service & Engineering Co. Ltd.

    237       7,023  

Kia Corp.

    124       8,157  

Korea Aerospace Industries Ltd.

    234       8,076  

Korea Gas Corp.

    212       6,832  

Korea Investment Holdings Co. Ltd.

    114       6,341  

Korea Zinc Co. Ltd.

    16       7,297  

KT&G Corp.

    111       7,287  

Kumho Petrochemical Co. Ltd.

    56       6,770  

LG Chem Ltd.

    16       6,427  

LG Chem Ltd., Preference Shares

    3       587  

LG Household & Health Care Ltd.

    9       6,398  

LG Household & Health Care Ltd., Preference Shares

    2       784  

LG Innotek Co. Ltd.

    28       7,615  

LG Uplus Corp.

    677       7,495  

LOTTE Chemical Corp.

    44       6,782  

LOTTE Chilsung Beverage Co. Ltd.

    56       8,042  

LOTTE Corp.

    301       8,128  

LOTTE Fine Chemical Co. Ltd.

    114       7,317  

Medy-Tox, Inc.(b)

    74       7,941  

Meritz Financial Group, Inc.

    246       7,324  

Mirae Asset Securities Co. Ltd.

    838       5,300  

Mirae Asset Securities Co. Ltd., Second Pfd.

    349       1,223  

NAVER Corp.

    29       6,560  

NCSoft Corp.

    20       6,670  

Netmarble Corp.(c)

    87       6,525  

NH Investment & Securities Co. Ltd.

    752       6,442  

NHN Corp.(b)

    234       6,435  

NongShim Co. Ltd.

    30       7,195  

Orion Corp.

    98       7,335  

Ottogi Corp.

    21       7,824  

Pearl Abyss Corp.(b)

    90       4,799  

POSCO Holdings, Inc.

    32       7,251  

Posco International Corp.

    432       8,415  

S-1 Corp.

    124       6,767  

Samsung Biologics Co. Ltd.(b)(c)

    12       7,929  

Samsung C&T Corp.

    81       7,341  

Samsung Card Co. Ltd.

    274       7,236  

Samsung Engineering Co. Ltd.(b)

    380       7,753  

 

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

 

  10  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

 

        Shares         Value  

South Korea-(continued)

   

Samsung Fire & Marine Insurance Co. Ltd.

    45     $ 7,399  

Samsung Fire & Marine Insurance Co. Ltd., Preference Shares

    4       516  

Samsung Life Insurance Co. Ltd.

    149       7,622  

Samsung SDS Co. Ltd.

    65       7,580  

Samsung Securities Co. Ltd.

    210       6,569  

Seegene, Inc.

    172       5,474  

Shin Poong Pharmaceutical Co.
Ltd.(b)

    249       5,952  

Shinhan Financial Group Co. Ltd.

    231       7,674  

Shinsegae, Inc.

    35       6,841  

SK Chemicals Co. Ltd.

    72       7,188  

SK Networks Co. Ltd.

    1,966       7,514  

SK Telecom Co. Ltd.

    165       7,429  

SKC Co. Ltd.

    65       7,663  

S-Oil Corp.

    101       8,215  

SSANGYONG C&E Co. Ltd.

    1,151       7,561  

Wemade Co. Ltd.

    82       4,921  

Woori Financial Group, Inc.

    648       7,472  

Yuhan Corp.

    155       7,472  
   

 

 

 
         674,748  
   

 

 

 

Spain-1.29%

   

Acciona S.A.

    46       8,992  

ACS Actividades de Construccion y Servicios S.A.

    296       7,559  

Enagas S.A.

    351       7,580  

Endesa S.A.

    362       7,614  

Fluidra S.A.

    243       6,556  

Grifols S.A.

    253       4,210  

Grifols S.A., Class B, Preference Shares

    198       2,148  

Iberdrola S.A.

    694       7,929  

Mapfre S.A.

    3,797       6,934  

Naturgy Energy Group S.A.

    287       8,599  

Red Electrica Corp. S.A.

    381       7,656  

Telefonica S.A

    1,542       7,503  
   

 

 

 
      83,280  
   

 

 

 

Sweden-3.08%

   

Assa Abloy AB, Class B(a)

    283       7,159  

Boliden AB

    157       6,883  

Castellum AB

    333       6,563  

Epiroc AB, Class A(a)

    258       5,261  

Epiroc AB, Class B

    158       2,748  

Essity AB, Class B

    300       7,995  

Fastighets AB Balder, Class B(b)

    122       6,065  

Getinge AB, Class B(a)

    198       5,756  

H & M Hennes & Mauritz AB, Class B(a)

    475       5,991  

Hexagon AB, Class B(a)

    569       7,377  

Holmen AB, Class B

    153       8,863  

Industrivarden AB, Class A

    162       4,157  

Industrivarden AB, Class C(a)

    123       3,102  

Kinnevik AB, Class A(b)

    276       6,035  

Lundin Energy AB(a)

    188       7,798  

Sagax AB, Class D

    2,275       7,015  

Securitas AB, Class B

    633       7,470  

Skandinaviska Enskilda Banken AB, Class A

    677       7,591  

Skandinaviska Enskilda Banken AB, Class C

    10       122  

SKF AB, Class B

    427       6,948  

Svenska Cellulosa AB S.C.A., Class A

    16       313  

Svenska Cellulosa AB S.C.A., Class B

    430       8,360  

Svenska Handelsbanken AB, Class A

    786       7,944  

Svenska Handelsbanken AB, Class B

    19       214  
        Shares         Value  

Sweden-(continued)

   

Sweco AB, Class B

    554     $ 7,841  

Swedbank AB, Class A

    485       7,674  

Swedish Match AB

    989       7,902  

Swedish Orphan Biovitrum AB, Class B(b)

    379       7,976  

Tele2 AB, Class B(a)

    564       7,464  

Telefonaktiebolaget LM Ericsson, Class A

    12       101  

Telefonaktiebolaget LM Ericsson, Class B

    922       7,423  

Telia Co. AB

    2,018       8,381  

Volvo AB, Class A

    49       800  

Volvo AB, Class B

    357       5,681  
   

 

 

 
      198,973  
   

 

 

 

Switzerland-2.28%

   

Alcon, Inc.

    98       6,968  

Baloise Holding AG

    46       8,006  

Banque Cantonale Vaudoise

    90       7,620  

Barry Callebaut AG

    3       6,928  

BKW AG

    60       7,326  

Chocoladefabriken Lindt & Spruengli AG, PC

    1       11,213  

DKSH Holding AG

    86       7,394  

Emmi AG

    7       6,958  

Helvetia Holding AG

    65       8,352  

Logitech International S.A., Class R(a)

    98       6,364  

Lonza Group AG

    11       6,472  

PSP Swiss Property AG

    57       7,206  

Roche Holding AG

    19       7,052  

Roche Holding AG, BR

    1       403  

Sonova Holding AG, Class A

    19       6,856  

Swatch Group AG (The)

    31       1,530  

Swatch Group AG (The), BR

    20       5,176  

Swiss Prime Site AG

    76       7,454  

Swisscom AG

    13       7,716  

Tecan Group AG, Class R

    17       5,120  

UBS Group AG

    423       7,172  

Zurich Insurance Group AG

    17       7,749  
   

 

 

 
         147,035  
   

 

 

 

Taiwan-0.09%

   

FIT Hon Teng Ltd.(b)(c)

    43,000       5,483  
   

 

 

 

United Kingdom-4.37%

   

3i Group PLC

    425       6,924  

Admiral Group PLC

    189       5,915  

Ashtead Group PLC

    111       5,730  

AstraZeneca PLC

    60       7,958  

Auto Trader Group PLC(c)

    830       6,549  

B&M European Value Retail S.A.

    919       5,626  

British American Tobacco PLC

    170       7,154  

Bunzl PLC

    191       7,386  

Croda International PLC

    79       7,643  

Dechra Pharmaceuticals PLC

    132       5,962  

Derwent London PLC

    186       7,043  

Diageo PLC

    153       7,570  

Direct Line Insurance Group PLC

    1,908       6,051  

Entain PLC(b)

    353       6,627  

Experian PLC

    188       6,506  

Halma PLC

    226       6,948  

Hargreaves Lansdown PLC

    520       5,904  

HomeServe PLC

    816       10,041  

Howden Joinery Group PLC

    673       6,351  

IMI PLC

    373       6,267  

 

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

 

  11  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

 

        Shares         Value  

United Kingdom-(continued)

   

Intertek Group PLC

    105     $ 6,534  

J Sainsbury PLC

    2,128       6,195  

JD Sports Fashion PLC

    3,788       6,260  

Johnson Matthey PLC(a)

    299       8,238  

Kingfisher PLC(a)

    1,876       5,888  

London Stock Exchange Group PLC

    88       8,719  

National Grid PLC

    492       7,304  

Next PLC

    86       6,444  

Renishaw PLC

    122       6,413  

Rentokil Initial PLC(a)

    1,057       7,251  

Rightmove PLC

    808       6,202  

Sage Group PLC (The)

    777       7,138  

Segro PLC

    425       7,101  

Smiths Group PLC

    361       6,595  

Spirax-Sarco Engineering PLC

    46       6,946  

SSE PLC

    341       7,931  

Tate & Lyle PLC

    744       7,239  

Tesco PLC

    1,958       6,641  

Unilever PLC

    153       7,096  

United Utilities Group PLC

    521       7,485  

Weir Group PLC (The)

    328       6,284  
   

 

 

 
         282,059  
   

 

 

 

United States-1.25%

   

Amcor PLC, CDI

    653       7,766  

Avast PLC(c)

    879       6,240  

Ferguson PLC

    49       6,170  

GlaxoSmithKline PLC

    355       7,981  

JS Global Lifestyle Co. Ltd.(c)

    7,500       8,890  

Nestle S.A.

    57       7,375  

Oracle Corp.

    122       7,873  

QIAGEN N.V.(b)

    154       7,120  
        Shares         Value  

United States-(continued)

   

Stellantis N.V.

    432     $ 5,755  

Swiss Re AG

    85       6,986  

Waste Connections, Inc.

    63       8,736  
   

 

 

 
      80,892  
   

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $6,934,835)

 

    6,333,425  
   

 

 

 
Money Market Funds-0.05%    

Invesco Government & Agency Portfolio, Institutional Class, 0.35%(d)(e)
(Cost $3,051)

    3,051       3,051  
   

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-98.23%
(Cost $6,937,886)

 

    6,336,476  
   

 

 

 
Investments Purchased with Cash
Collateral from Securities on Loan

 

 
Money Market Funds-5.97%    

Invesco Private Government
Fund, 0.40%(d)(e)(f)

    121,467       121,467  

Invesco Private Prime
Fund, 0.35%(d)(e)(f)

    264,020       264,020  
   

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $385,456)

 

    385,487  
   

 

 

 

TOTAL INVESTMENTS IN SECURITIES-104.20%
(Cost $7,323,342)

 

    6,721,963  

OTHER ASSETS LESS LIABILITIES-(4.20)%

 

    (270,913
   

 

 

 

NET ASSETS-100.00%

    $ 6,451,050  
   

 

 

 

Investment Abbreviations:

BR-Bearer Shares

CDI-CREST Depository Interest

CVA-Dutch Certificates

PC-Participation Certificate

Pfd.-Preferred

REIT-Real Estate Investment Trust

Notes to Schedule of Investments:

(a) 

All or a portion of this security was out on loan at April 30, 2022.

(b) 

Non-income producing security.

(c) 

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at April 30, 2022 was $176,658, which represented 2.74% of the Fund’s Net Assets.

(d) 

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended April 30, 2022.

 

    Value
October 31, 2021
    Purchases
at Cost
    Proceeds
from Sales
    Change in
Unrealized
Appreciation
    Realized
Gain
(Loss)
    Value
April 30, 2022
    Dividend
Income
 

Investments in Affiliated Money Market Funds:

             

Invesco Government & Agency Portfolio, Institutional Class

  $ -     $ 363,329     $ (360,278   $ -     $ -     $ 3,051     $ 5  

 

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

 

  12  

 

 

 

 


 

Invesco FTSE International Low Beta Equal Weight ETF (IDLB)–(continued)

April 30, 2022

(Unaudited)

    

 

    Value
October 31, 2021
    Purchases
at Cost
    Proceeds
from Sales
    Change in
Unrealized
Appreciation
    Realized
Gain
(Loss)
    Value
April 30, 2022
    Dividend
Income
 

Investments Purchased with Cash Collateral from Securities on Loan:

             

Invesco Private Government Fund

  $ 112,402     $ 484,049     $ (474,984   $ -     $ -     $ 121,467     $ 87

Invesco Private Prime Fund

    262,272       1,034,754       (1,032,844     31       (193     264,020       255
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 374,674     $ 1,882,132     $ (1,868,106   $ 31     $ (193   $ 388,538     $ 347  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

*

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

 

(e) 

The rate shown is the 7-day SEC standardized yield as of April 30, 2022.

(f) 

The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J.

Portfolio Composition

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

as of April 30, 2022

 

Industrials

    16.57      

Consumer Staples

    12.72    

Financials

    12.13    

Consumer Discretionary

    10.34    

Materials

    10.08    

Health Care

    7.68    

Communication Services

    7.43    

Real Estate

    7.39    

Information Technology

    7.27    

Utilities

    5.20    

Energy

    1.37    
Money Market Funds Plus Other Assets    

Less Liabilities

    1.82    

 

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

 

  13  

 

 

 

 


 

Invesco S&P Emerging Markets Low Volatility ETF (EELV)

April 30, 2022

(Unaudited)

Schedule of Investments

 

        Shares             Value      
Common Stocks & Other Equity Interests-99.77%

 

Brazil-1.90%

   

ENGIE Brasil Energia S.A.

    616,800     $ 5,218,675  

Itausa S.A., Preference Shares

    1,852,600       3,445,427  

Neoenergia S.A.

    1,152,800       4,371,710  

Telefonica Brasil S.A.

    430,300       4,621,715  
   

 

 

 
      17,657,527  
   

 

 

 

China-8.95%

   

Agricultural Bank of China Ltd., H Shares

    11,943,131       4,484,791  

Bank of China Ltd., H Shares

    15,326,334       6,033,536  

Bank of Communications Co. Ltd., H Shares

    6,622,923       4,617,219  

China CITIC Bank Corp. Ltd., H Shares

    10,270,907       5,224,056  

China Conch Venture Holdings Ltd.

    852,784       2,222,674  

China Construction Bank Corp., H Shares

    6,477,149       4,603,038  

China Everbright Bank Co. Ltd., H Shares

    11,309,000       4,098,454  

China Galaxy Securities Co. Ltd., H Shares

    6,947,000       3,768,050  

China Life Insurance Co. Ltd., H Shares

    2,917,974       4,234,701  

China Tower Corp. Ltd., H Shares(a)

    40,375,797       4,710,550  

Chongqing Rural Commercial Bank Co. Ltd., H Shares

    11,947,403       4,633,453  

CRRC Corp. Ltd., H Shares

    9,597,000       3,546,659  

Guotai Junan Securities Co. Ltd., H Shares(a)(b)

    2,650,749       3,408,793  

Haitong Securities Co. Ltd., H Shares

    5,457,303       3,815,970  

Hengan International Group Co. Ltd.

    733,537       3,471,827  

Huatai Securities Co. Ltd., H Shares(a)

    2,389,868       3,285,598  

Industrial & Commercial Bank of China Ltd., H Shares

    8,456,875       5,097,583  

People’s Insurance Co. Group of China Ltd.

   

(The), H Shares

    16,923,708       5,395,928  

Want Want China Holdings Ltd.

    3,848,597       3,465,107  

Yum China Holdings, Inc.

    72,831       3,044,336  
   

 

 

 
      83,162,323  
   

 

 

 

Czech Rep-1.00%

   

CEZ A.S.

    127,179       5,443,793  

Komercni banka A.S.(c)

    117,560       3,834,676  
   

 

 

 
      9,278,469  
   

 

 

 

Egypt-0.41%

   

Commercial International Bank Egypt S.A.E

    1,586,730       3,844,538  
   

 

 

 

Greece-0.50%

   

Hellenic Telecommunications Organization S.A.

    242,568       4,606,154  
   

 

 

 

India-0.82%

   

Dr. Reddy’s Laboratories Ltd., ADR(c)

    72,252       3,878,487  

WNS (Holdings) Ltd., ADR(b)

    48,132       3,772,105  
   

 

 

 
      7,650,592  
   

 

 

 

Indonesia-1.27%

   

PT Bank Central Asia Tbk

    7,264,977       4,063,298  

PT Indofood CBP Sukses Makmur Tbk

    7,272,481       3,821,361  

PT Indofood Sukses Makmur Tbk

    9,007,459       3,914,395  
   

 

 

 
      11,799,054  
   

 

 

 

Kuwait-3.81%

   

Gulf Bank KSCP

    5,092,063       5,666,156  

Humansoft Holding Co. KSC

    341,181       3,758,613  

Kuwait Finance House KSCP

    2,860,692       9,189,276  
        Shares             Value      

Kuwait-(continued)

   

Mobile Telecommunications Co. KSCP

    4,094,629     $ 9,099,176  

National Bank of Kuwait SAKP

    2,253,664       7,716,209  
   

 

 

 
      35,429,430  
   

 

 

 

Malaysia-7.64%

   

CIMB Group Holdings Bhd.

    3,792,000       4,519,184  

Genting Bhd.

    3,628,900       3,844,385  

Hong Leong Bank Bhd.

    1,338,100       6,425,115  

IHH Healthcare Bhd.

    2,545,247       3,833,901  

IOI Corp. Bhd.

    3,632,100       3,887,322  

Kuala Lumpur Kepong Bhd.

    560,800       3,778,940  

Malayan Banking Bhd.

    3,874,392       8,052,431  

Petronas Chemicals Group Bhd.

    2,131,800       5,004,478  

Petronas Gas Bhd.

    1,351,300       5,270,489  

Public Bank Bhd.

    6,345,000       6,818,698  

RHB Bank Bhd.

    3,755,400       5,381,410  

Sime Darby Bhd.

    7,179,900       3,841,990  

Telekom Malaysia Bhd.

    3,798,100       4,336,847  

Tenaga Nasional Bhd.

    2,868,072       5,955,523  
   

 

 

 
      70,950,713  
   

 

 

 

Mexico-4.35%

   

America Movil S.A.B. de C.V., Series L

    4,512,328       4,391,054  

Arca Continental S.A.B. de C.V.

    862,693       5,473,705  

Coca-Cola FEMSA S.A.B. de C.V., Series L

    887,339       4,837,897  

Fomento Economico Mexicano, S.A.B. de C.V., Series CPO(d)

    542,476       4,078,571  

Gruma S.A.B. de C.V., Class B

    347,763       4,130,351  

Grupo Elektra S.A.B. de C.V

    89,916       5,391,171  

Grupo Financiero Inbursa S.A.B. de C.V., Class O(b)(c)

    2,263,332       3,836,081  

Kimberly-Clark de Mexico S.A.B. de C.V., Class A(c)

    2,846,937       3,974,287  

Promotora y Operadora de Infraestructura S.A.B de C.V.

    592,560       4,319,241  
   

 

 

 
      40,432,358  
   

 

 

 

Philippines-0.41%

   

Bank of the Philippine Islands

    2,082,495       3,776,124  
   

 

 

 

Poland-0.35%

   

Cyfrowy Polsat S.A.

    593,807       3,228,426  
   

 

 

 

Qatar-5.20%

   

Commercial Bank P.S.Q.C. (The)

    2,004,281       4,231,734  

Doha Bank Q.P.S.C.

    4,750,070       3,391,277  

Ezdan Holding Group Q.S.C.(b)

    10,731,094       3,886,679  

Industries Qatar Q.S.C.

    785,688       4,058,156  

Masraf Al Rayan Q.S.C.

    4,110,274       6,083,443  

Mesaieed Petrochemical Holding Co. Q.P.S.C.

    5,054,055       3,594,426  

Ooredoo Q.P.S.C.

    2,566,009       5,284,815  

Qatar Gas Transport Co. Ltd.

    5,622,319       5,279,970  

Qatar Islamic Bank (S.A.Q)

    904,547       6,082,888  

Qatar National Bank Q.P.S.C.

    1,012,739       6,457,909  
   

 

 

 
      48,351,297  
   

 

 

 

Romania-0.52%

   

NEPI Rockcastle PLC

    803,118       4,854,099  
   

 

 

 

 

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

 

  14  

 

 

 

 


 

Invesco S&P Emerging Markets Low Volatility ETF (EELV)–(continued)

April 30, 2022

(Unaudited)

 

        Shares             Value      

Russia-0.00%

   

Mobile TeleSystems PJSC, ADR(e)

    206,291     $ 0  

X5 Retail Group N.V., GDR(a)(e)

    51,546       0  
   

 

 

 
      0