LOGO  

Invesco Semi-Annual Report to Shareholders

 

April 30, 2022

 

PBTP   Invesco PureBetaSM 0-5 Yr US TIPS ETF

PBDM  Invesco PureBetaSM FTSE Developed ex-North America ETF

PBEE   Invesco PureBetaSM FTSE Emerging Markets ETF


 

Table of Contents

 

Liquidity Risk Management Program      3  
Schedules of Investments   

Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP)

     4  

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)

     6  

Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)

     22  
Statements of Assets and Liabilities      34  
Statements of Operations      35  
Statements of Changes in Net Assets      36  
Financial Highlights      37  
Notes to Financial Statements      40  
Fund Expenses      51  
Approval of Investment Advisory and Sub-Advisory Contracts      53  

 

  

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 PureBetaSM 0-5 Yr US TIPS ETF (PBTP)

April 30, 2022

(Unaudited)

Schedule of Investments

 

     Principal 
Amount
     Value  
U.S. Treasury Securities-99.89%

 

U.S. Treasury Inflation – Indexed Notes-99.89%(a)

 

0.13%, 07/15/2022

  $ 6,174,178      $ 6,286,458  

0.13%, 01/15/2023

    6,151,527        6,324,913  

0.63%, 04/15/2023

    6,553,087        6,776,444  

0.38%, 07/15/2023

    6,101,064        6,339,922  

0.63%, 01/15/2024

    6,079,578        6,346,886  

0.50%, 04/15/2024

    4,422,550        4,615,560  

0.13%, 07/15/2024

    5,976,979        6,224,445  

0.13%, 10/15/2024

    4,745,848        4,927,443  

0.25% - 2.38%, 01/15/2025

    11,134,397        11,887,439  

0.13%, 04/15/2025

    4,765,475        4,934,474  

0.38%, 07/15/2025

    5,984,582        6,268,054  

0.13%, 10/15/2025

    4,574,953        4,744,046  

0.63% - 2.00%, 01/15/2026

    9,667,326        10,364,926  

0.13%, 04/15/2026

    5,259,846        5,427,804  

0.13%, 07/15/2026

    5,321,555        5,512,833  

0.13%, 10/15/2026

    4,854,120        5,017,528  

0.38% - 2.38%, 01/15/2027

    8,346,407        8,977,598  

0.13%, 04/15/2027

    2,446,597        2,519,713  
    

 

 

 

Total U.S. Treasury Securities
(Cost $114,704,694)

       113,496,486  
    

 

 

 
        Shares          Value  
Money Market Funds-0.05%     

Invesco Government & Agency Portfolio, Institutional Class,
0.35%(b)(c) (Cost $55,412)

    55,412      $ 55,412  
    

 

 

 

TOTAL INVESTMENTS IN SECURITIES-99.94%
(Cost $114,760,106)

 

     113,551,898  

OTHER ASSETS LESS LIABILITIES-0.06%

 

     67,110  
    

 

 

 

NET ASSETS-100.00%

     $ 113,619,008  
    

 

 

 

 

Notes to Schedule of Investments:

(a)

Principal amount of security and interest payments are adjusted for inflation. See Note 2I.

(b)

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
    $ 60,551      $ 1,258,330      $ (1,263,469 )      $ -      $ -      $ 55,412      $ 39
Investments Purchased with Cash Collateral from Securities on Loan:                                  
Invesco Private Government Fund       1,543,304        13,231,432        (14,774,736 )        -        -        -        123 *
Invesco Private Prime Fund       3,601,042        23,857,518        (27,457,908 )        -        (652 )        -        743 *
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

 
Total     $ 5,204,897      $ 38,347,280      $ (43,496,113 )      $ -      $ (652 )      $ 55,412      $ 905
   

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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.

 

(c)

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

 

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

 

  4  

 

 

 

 


 

Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP)–(continued)

April 30, 2022

(Unaudited)

    

 

Portfolio Composition

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

as of April 30, 2022

 

Maturing in 0-5 Years

    99.89      
Money Market Funds Plus Other Assets Less Liabilities     0.11    

 

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

 

  5  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)

April 30, 2022

(Unaudited)

Schedule of Investments

 

        Shares             Value      
Common Stocks & Other Equity Interests-99.61%

 

Australia-8.81%            

Adbri Ltd.

    2,521     $ 5,152  

AGL Energy Ltd.

    3,628       22,227  

Allkem Ltd.(a)

    3,186       26,555  

ALS Ltd.

    2,648       24,114  

Altium Ltd.

    601       13,468  

Alumina Ltd.

    13,913       17,727  

AMP Ltd.(a)

    18,019       14,595  

Ampol Ltd.

    1,314       30,916  

Ansell Ltd.

    709       13,657  

APA Group

    6,512       52,558  

Appen Ltd.

    606       2,782  

Aristocrat Leisure Ltd.

    3,692       85,833  

ASX Ltd.

    1,068       64,563  

Atlas Arteria Ltd.

    5,290       25,806  

Aurizon Holdings Ltd.

    9,740       27,777  

Australia & New Zealand Banking Group Ltd.

    15,535       296,580  

Bank of Queensland Ltd.

    3,529       20,009  

Beach Energy Ltd.

    9,733       11,129  

Bendigo & Adelaide Bank Ltd.(b)

    3,044       22,718  

BHP Group Ltd.

    27,880       942,507  

BlueScope Steel Ltd.

    2,703       38,542  

Boral Ltd.(b)

    2,219       5,550  

Brambles Ltd.

    7,915       58,787  

carsales.com Ltd.

    1,487       21,900  

Challenger Ltd.

    3,698       18,714  

Charter Hall Group

    2,600       27,717  

Cleanaway Waste Management Ltd.

    7,511       16,902  

Cochlear Ltd.

    353       57,044  

Coles Group Ltd.

    6,997       92,163  

Commonwealth Bank of Australia

    9,531       694,498  

Computershare Ltd.

    2,964       52,257  

Crown Resorts Ltd.(a)

    1,925       17,572  

CSL Ltd.

    2,673       508,825  

CSR Ltd.

    2,677       11,474  

Deterra Royalties Ltd.

    2,333       7,937  

Dexus

    5,936       46,522  

Domain Holdings Australia Ltd.

    1,276       3,108  

Domino’s Pizza Enterprises Ltd.

    333       17,703  

Downer EDI Ltd.

    3,800       14,787  

EBOS Group Ltd.

    595       16,266  

Endeavour Group Ltd.

    6,997       38,679  

Evolution Mining Ltd.

    9,242       26,094  

Flight Centre Travel Group Ltd.(a)(b)

    791       12,389  

Fortescue Metals Group Ltd.

    8,772       133,756  

Glencore PLC

    73,400       451,747  

Goodman Group

    10,114       169,203  

GPT Group (The)

    10,572       37,832  

Harvey Norman Holdings Ltd.(b)

    3,268       11,700  

IDP Education Ltd.

    999       18,497  

IGO Ltd.

    3,427       31,768  

Iluka Resources Ltd.

    2,313       18,240  

Incitec Pivot Ltd.

    10,701       29,132  

Insignia Financial Ltd.

    3,508       8,401  

Insurance Australia Group Ltd.

    13,408       42,773  

JB Hi-Fi Ltd.

    623       23,196  

Lendlease Corp. Ltd.

    3,793       32,588  

Lynas Rare Earths Ltd.(a)

    4,957       31,347  
        Shares             Value      

Australia-(continued)

   

Macquarie Group Ltd.

    1,915     $ 276,015  

Magellan Financial Group Ltd.(b)

    769       8,738  

Medibank Pvt Ltd.

    15,200       34,235  

Metcash Ltd.(b)

    5,327       17,957  

Mineral Resources Ltd.

    768       31,464  

Mirvac Group

    21,708       36,964  

National Australia Bank Ltd.

    18,175       416,071  

Newcrest Mining Ltd.

    4,923       92,827  

NEXTDC Ltd.(a)

    2,499       19,505  

Northern Star Resources Ltd.

    6,273       42,901  

Nufarm Ltd.

    1,758       7,932  

Orica Ltd.

    2,240       25,837  

Origin Energy Ltd.

    9,690       46,555  

Orora Ltd.

    4,783       13,412  

OZ Minerals Ltd.

    1,791       31,266  

Perpetual Ltd.(b)

    310       7,142  

Pilbara Minerals Ltd.(a)

    14,500       28,085  

Platinum Asset Management Ltd.

    2,893       3,804  

Pro Medicus Ltd.(b)

    223       7,292  

Qantas Airways Ltd.(a)

    4,060       15,750  

QBE Insurance Group Ltd.

    8,129       70,031  

Qube Holdings Ltd.

    8,104       16,732  

Ramsay Health Care Ltd.

    964       54,771  

REA Group Ltd.

    278       24,814  

Reece Ltd.

    1,467       17,832  

Rio Tinto Ltd.

    2,048       163,275  

Rio Tinto PLC

    6,081       430,668  

Santos Ltd.

    16,944       95,174  

Scentre Group

    28,619       59,965  

SEEK Ltd.

    1,923       37,659  

Seven Group Holdings Ltd.

    740       10,353  

Shopping Centres Australasia Property Group

    6,119       13,084  

Sonic Healthcare Ltd.

    2,635       67,968  

South32 Ltd.

    25,739       86,278  

Star Entertainment Group Ltd. (The)(a)

    4,729       10,496  

Stockland

    13,163       38,138  

Suncorp Group Ltd.

    6,964       56,164  

Tabcorp Holdings Ltd.

    11,472       43,876  

Telstra Corp. Ltd.

    22,694       64,675  

TPG Telecom Ltd.

    2,024       8,361  

Transurban Group

    16,776       168,669  

Treasury Wine Estates Ltd.

    3,984       31,297  

Vicinity Centres

    20,790       27,258  

Washington H Soul Pattinson & Co. Ltd.

    1,468       28,585  

Wesfarmers Ltd.

    6,244       216,608  

Westpac Banking Corp.

    19,644       329,159  

Whitehaven Coal Ltd.

    4,762       16,460  

WiseTech Global Ltd.

    869       26,950  

Woodside Petroleum Ltd.

    5,302       115,906  

Woolworths Group Ltd.

    6,673       181,286  

Worley Ltd.

    2,060       20,196  
   

 

 

 
      8,262,723  
   

 

 

 

Austria-0.26%

   

ams-OSRAM AG(a)(b)

    1,356       16,665  

ANDRITZ AG

    371       15,738  

Erste Group Bank AG

    1,695       52,361  

Mondi PLC(b)

    2,672       49,386  

 

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

 

  6  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares             Value      

Austria-(continued)

   

OMV AG

    783     $ 39,978  

Raiffeisen Bank International AG(b)

    713       8,010  

Telekom Austria AG

    754       5,377  

Verbund AG(b)

    364       38,978  

voestalpine AG

    633       16,507  
   

 

 

 
      243,000  
   

 

 

 

Belgium-0.85%

   

Ackermans & van Haaren N.V.

    140       24,959  

Ageas S.A./N.V.

    981       47,032  

Anheuser-Busch InBev S.A./N.V.

    4,763       274,612  

D’Ieteren Group

    153       24,788  

Elia Group S.A./N.V.(b)

    185       29,481  

Etablissements Franz Colruyt N.V.

    275       10,115  

Groupe Bruxelles Lambert S.A.

    560       52,915  

KBC Group N.V.

    1,515       103,189  

Proximus SADP

    771       13,445  

Sofina S.A.

    84       25,805  

Solvay S.A., Class A

    371       35,063  

Telenet Group Holding N.V.

    251       7,463  

UCB S.A.

    666       75,791  

Umicore S.A.(b)

    1,129       43,586  

Warehouses De Pauw C.V.A.(b)

    776       29,783  
   

 

 

 
      798,027  
   

 

 

 

Brazil-0.05%

   

Yara International ASA

    897       45,927  
   

 

 

 

Cambodia-0.01%

   

NagaCorp Ltd.

    6,692       5,981  
   

 

 

 

Chile-0.04%

   

Antofagasta PLC(b)

    1,909       36,659  
   

 

 

 

China-0.47%

   

AAC Technologies Holdings, Inc.

    3,807       8,813  

BeiGene Ltd.(a)(b)

    3,670       46,019  

BOC Hong Kong Holdings Ltd.

    19,614       70,760  

Budweiser Brewing Co. APAC Ltd.(c)

    9,298       23,262  

China Travel International Investment Hong Kong Ltd.(a)

    13,198       2,375  

Chow Tai Fook Jewellery Group Ltd.

    8,909       14,877  

ESR Cayman Ltd.(a)(c)

    9,202       27,914  

FIH Mobile Ltd.(a)

    15,371       1,906  

HUTCHMED China Ltd.(a)

    2,500       8,019  

Kerry Logistics Network Ltd.

    1,263       2,883  

Lee & Man Paper Manufacturing Ltd.

    7,642       3,646  

Lenovo Group Ltd.

    41,428       40,189  

MicroPort Scientific Corp.

    2,619       5,159  

Minth Group Ltd.

    4,329       10,209  

MMG Ltd.(a)

    13,057       5,508  

Nexteer Automotive Group Ltd.

    4,389       2,459  

Shangri-La Asia Ltd.(a)

    6,527       4,947  

Shui On Land Ltd.

    19,144       2,709  

SITC International Holdings Co. Ltd.

    6,545       21,853  

Tingyi Cayman Islands Holding Corp.

    10,889       19,777  

Towngas Smart Energy Co. Ltd.

    5,488       2,704  

Uni-President China Holdings Ltd.

    6,548       5,749  

Want Want China Holdings Ltd.

    29,387       26,459  

Wharf Holdings Ltd. (The)

    7,614       22,168  
        Shares             Value      

China-(continued)

   

Wilmar International Ltd.

    11,622     $ 37,239  

Xinyi Glass Holdings Ltd.

    10,912       24,117  
   

 

 

 
      441,720  
   

 

 

 

Denmark-2.40%

   

Ambu A/S, Class B(b)

    945       12,421  

AP Moller - Maersk A/S, Class A

    23       64,551  

AP Moller - Maersk A/S, Class B

    30       86,079  

Carlsberg A/S, Class B

    530       67,084  

Chr. Hansen Holding A/S

    567       44,184  

Coloplast A/S, Class B

    734       99,099  

Danske Bank A/S

    3,634       55,091  

Demant A/S(a)

    559       24,577  

DSV A/S

    1,071       174,943  

Genmab A/S(a)

    326       114,996  

GN Store Nord A/S

    705       26,283  

H Lundbeck A/S

    329       7,565  

Novo Nordisk A/S, Class B

    8,804       1,006,916  

Novozymes A/S, Class B

    1,094       76,009  

Orsted A/S(c)

    1,039       116,833  

Pandora A/S

    512       44,407  

ROCKWOOL A/S, Class B

    34       9,541  

Royal Unibrew A/S

    260       22,237  

SimCorp A/S

    219       15,363  

Tryg A/S

    1,696       40,200  

Vestas Wind Systems A/S

    5,564       143,144  
   

 

 

 
      2,251,523  
   

 

 

 

Finland-1.19%

   

Elisa OYJ

    791       46,232  

Fortum OYJ

    2,379       39,127  

Huhtamaki OYJ

    512       19,191  

Kesko OYJ, Class B

    1,486       37,493  

Kojamo OYJ

    1,075       21,206  

Kone OYJ, Class B

    2,166       103,935  

Metso Outotec OYJ

    3,340       28,262  

Neste OYJ

    2,294       98,617  

Nokia OYJ(a)

    31,062       158,069  

Nokian Renkaat OYJ

    747       10,047  

Nordea Bank Abp

    19,697       195,531  

Orion OYJ, Class B

    572       22,378  

Sampo OYJ, Class A

    2,787       134,299  

Stora Enso OYJ, Class R

    3,166       61,962  

UPM-Kymmene OYJ

    2,939       100,953  

Valmet OYJ

    732       19,592  

Wartsila OYJ Abp

    2,687       21,451  
   

 

 

 
      1,118,345  
   

 

 

 

France-9.42%

   

Accor S.A.(a)

    1,008       32,761  

Adevinta ASA, Class B(a)

    1,530       12,029  

Aeroports de Paris(a)(b)

    148       20,924  

Air Liquide S.A.

    2,601       449,045  

Airbus SE

    3,124       339,727  

ALD S.A.(b)(c)

    444       6,040  

Alstom S.A.

    1,627       35,419  

Amundi S.A.(c)

    314       18,734  

Arkema S.A.

    358       40,404  

Atos SE

    518       12,533  

AXA S.A.

    10,607       280,828  

BioMerieux

    223       21,157  

 

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

 

  7  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares             Value      

France-(continued)

   

BNP Paribas S.A.

    6,002     $ 307,820  

Bollore SE

    5,448       25,299  

Bouygues S.A.(b)

    1,173       40,302  

Bureau Veritas S.A.

    1,564       44,818  

Capgemini SE

    882       179,423  

Carrefour S.A.

    3,420       72,498  

Cie de L’Odet SE

    2       2,309  

Cie de Saint-Gobain

    2,576       149,906  

Cie Generale des Etablissements Michelin S.C.A.

    965       119,298  

Cie Plastic Omnium S.A.

    304       4,884  

CNP Assurances(b)

    824       18,142  

Covivio

    276       19,502  

Credit Agricole S.A.

    6,678       71,678  

Danone S.A.

    3,311       199,049  

Dassault Aviation S.A.

    128       21,632  

Dassault Systemes SE

    3,670       163,259  

Edenred

    1,375       68,922  

Eiffage S.A.

    408       40,023  

Electricite de France S.A.

    3,904       35,301  

ENGIE S.A.(b)

    9,145       107,425  

EssilorLuxottica S.A.

    1,627       276,015  

Eurazeo SE

    267       20,443  

Faurecia SE

    656       14,133  

Gecina S.A.

    284       31,818  

Getlink SE

    2,510       45,849  

Hermes International

    171       210,399  

ICADE

    179       10,650  

Ipsen S.A.

    185       19,197  

JCDecaux S.A.(a)

    400       8,421  

Kering S.A.

    405       215,117  

Klepierre S.A.

    999       23,724  

La Francaise des Jeux SAEM(c)

    480       17,858  

Legrand S.A.

    1,474       130,113  

L’Oreal S.A.(b)

    1,378       501,317  

LVMH Moet Hennessy Louis Vuitton SE(b)

    1,383       884,976  

Neoen S.A.(a)(b)(c)

    148       5,894  

Orange S.A.

    10,573       125,926  

Orpea S.A.(b)

    259       9,194  

Pernod Ricard S.A.

    1,151       237,146  

Publicis Groupe S.A.

    1,261       75,481  

Remy Cointreau S.A.

    135       26,734  

Renault S.A.(a)

    1,016       24,624  

Rexel S.A.

    1,674       34,351  

Safran S.A.

    1,920       204,341  

Sanofi(b)

    6,085       640,453  

Sartorius Stedim Biotech

    132       42,966  

Schneider Electric SE

    2,965       422,287  

SCOR SE

    863       24,260  

SEB S.A.

    166       19,902  

Societe Generale S.A.

    4,202       99,836  

Sodexo S.A.

    480       35,991  

SOITEC(a)

    112       20,055  

Somfy S.A.

    43       5,726  

Teleperformance

    320       114,413  

Thales S.A.

    553       70,840  

TotalEnergies SE

    13,280       654,327  

Ubisoft Entertainment S.A.(a)(b)

    518       23,388  

Unibail-Rodamco-Westfield(a)(b)

    566       40,097  

Valeo

    1,324       23,875  
        Shares             Value      

France-(continued)

   

Veolia Environnement S.A.

    3,573     $ 102,983  

Vinci S.A.

    2,765       266,779  

Vivendi SE(b)

    3,868       44,353  

Wendel SE

    148       14,663  

Worldline S.A.(a)(c)

    1,340       52,522  
   

 

 

 
      8,834,528  
   

 

 

 

Germany-7.39%

   

1&1 AG

    254       5,334  

adidas AG

    1,011       205,919  

Allianz SE

    2,299       524,356  

Aroundtown S.A.

    6,286       31,818  

Auto1 Group SE(a)(c)

    370       3,915  

BASF SE

    5,048       268,453  

Bayer AG

    5,522       363,970  

Bayerische Motoren Werke AG

    1,771       146,682  

Bayerische Motoren Werke AG, Preference Shares

    318       23,701  

Bechtle AG

    444       20,759  

Beiersdorf AG

    550       55,597  

Brenntag SE

    853       66,537  

Carl Zeiss Meditec AG, BR

    202       25,514  

Commerzbank AG(a)

    5,737       38,020  

Continental AG(a)

    596       41,510  

Covestro AG(c)

    993       43,254  

CTS Eventim AG & Co. KGaA(a)

    324       22,517  

Daimler Truck Holding AG(a)

    2,314       62,524  

Deutsche Bank AG(a)

    11,269       115,082  

Deutsche Boerse AG

    1,013       177,612  

Deutsche Lufthansa AG(a)(b)

    3,298       24,887  

Deutsche Post AG

    5,394       232,851  

Deutsche Telekom AG

    18,972       349,458  

Deutsche Wohnen SE

    251       7,217  

DWS Group GmbH & Co. KGaA(c)

    185       6,124  

E.ON SE

    11,942       125,100  

Evonik Industries AG

    1,053       27,845  

Evotec SE(a)

    849       20,621  

Fielmann AG

    134       6,814  

Fraport AG Frankfurt Airport Services Worldwide(a)

    185       10,002  

Fresenius Medical Care AG & Co. KGaA

    1,120       70,231  

Fresenius SE & Co. KGaA

    2,250       80,229  

Fuchs Petrolub SE

    185       4,938  

Fuchs Petrolub SE, Preference Shares

    384       12,225  

GEA Group AG

    913       35,867  

Hannover Rueck SE

    331       51,994  

HeidelbergCement AG

    798       46,521  

Hella GmbH & Co. KGaA

    126       7,982  

HelloFresh SE(a)

    902       38,614  

Henkel AG & Co. KGaA

    555       35,481  

Henkel AG & Co. KGaA, Preference Shares

    963       62,337  

HOCHTIEF AG

    106       6,459  

Infineon Technologies AG

    7,182       207,979  

KION Group AG

    432       24,363  

Knorr-Bremse AG

    365       26,315  

LANXESS AG

    470       18,480  

LEG Immobilien SE

    402       41,391  

Mercedes-Benz Group AG

    4,714       333,691  

Merck KGaA

    713       132,223  

METRO AG(a)

    722       6,349  

 

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

 

  8  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares             Value      

Germany-(continued)

   

MTU Aero Engines AG

    294     $ 59,458  

Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class R

    773       184,971  

Nemetschek SE

    296       23,766  

Porsche Automobil Holding SE, Preference Shares

    845       70,905  

Puma SE

    549       40,936  

Rational AG

    18       11,080  

Rheinmetall AG

    238       53,796  

RWE AG

    3,475       145,135  

SAP SE

    6,196       639,074  

Sartorius AG

    13       4,361  

Sartorius AG, Preference Shares

    136       51,521  

Scout24 SE(c)

    414       26,415  

Siemens AG

    4,204       522,356  

Siemens Energy AG

    2,364       45,770  

Siemens Healthineers AG(c)

    1,529       82,683  

Sixt SE(a)

    72       9,472  

Sixt SE, Preference Shares

    91       6,634  

SUSE S.A.(a)

    198       6,448  

Symrise AG

    761       91,080  

Talanx AG

    293       12,355  

Telefonica Deutschland Holding AG

    3,684       11,150  

thyssenkrupp AG(a)

    2,674       20,819  

Traton SE

    276       4,628  

TUI AG(a)(b)

    5,943       16,701  

Uniper SE

    482       12,468  

United Internet AG

    592       19,192  

Vantage Towers AG

    510       17,324  

Varta AG

    74       6,962  

Volkswagen AG

    176       38,842  

Volkswagen AG, Preference Shares

    1,010       158,696  

Vonovia SE

    4,286       171,382  

Wacker Chemie AG

    74       11,935  

Zalando SE(a)(c)

    1,202       47,674  
   

 

 

 
      6,923,651  
   

 

 

 

Hong Kong-2.40%

   

AIA Group Ltd.

    67,586       660,381  

ASM Pacific Technology Ltd.

    1,741       17,594  

Bank of East Asia Ltd. (The)

    6,966       10,280  

Cafe de Coral Holdings Ltd.

    2,159       3,365  

Cathay Pacific Airways Ltd.(a)

    5,377       5,371  

Champion REIT

    10,931       4,777  

CK Asset Holdings Ltd.

    10,888       73,718  

CK Hutchison Holdings Ltd.

    14,705       102,960  

CK Infrastructure Holdings Ltd.

    3,296       22,179  

CLP Holdings Ltd.

    9,239       89,948  

Dah Sing Banking Group Ltd.

    2,174       1,817  

Dah Sing Financial Holdings Ltd.

    869       2,526  

Dairy Farm International Holdings Ltd.

    1,686       4,542  

Guotai Junan International Holdings Ltd.

    14,111       1,530  

Haitong International Securities Group Ltd.

    14,069       2,234  

Hang Lung Group Ltd.

    4,416       8,615  

Hang Lung Properties Ltd.

    10,912       20,811  

Hang Seng Bank Ltd.

    4,026       71,097  

Henderson Land Development Co. Ltd.

    7,584       30,581  

Hong Kong & China Gas Co. Ltd. (The)

    59,892       65,992  

Hong Kong Exchanges & Clearing Ltd.

    7,026       298,006  

Hongkong Land Holdings Ltd.

    6,431       29,939  
        Shares             Value      

Hong Kong-(continued)

   

Huabao International Holdings Ltd.

    5,425     $ 2,954  

Hutchison Port Holdings Trust, Class U

    27,834       6,648  

Hutchison Telecommunications Hong Kong Holdings Ltd.

    6,614       1,101  

Hysan Development Co. Ltd.

    3,296       9,648  

Jardine Matheson Holdings Ltd.

    1,147       60,614  

Johnson Electric Holdings Ltd., H Shares

    1,662       1,900  

Kerry Properties Ltd.

    3,284       8,831  

Lifestyle International Holdings Ltd.(a)

    2,713       1,304  

Link REIT

    11,636       100,343  

Man Wah Holdings Ltd.

    8,501       7,942  

Mapletree North Asia Commercial Trust(c)

    11,992       10,328  

Melco International Development
Ltd.(a)

    4,380       3,435  

MTR Corp. Ltd.

    8,147       43,243  

New World Development Co. Ltd.

    7,656       29,279  

NWS Holdings Ltd.

    7,665       6,937  

Orient Overseas International Ltd.

    700       19,297  

PCCW Ltd.

    22,985       13,035  

Power Assets Holdings Ltd.

    7,623       51,224  

Shun Tak Holdings Ltd.(a)

    6,883       1,390  

Sino Land Co. Ltd.

    19,416       25,591  

Sun Hung Kai Properties Ltd.

    8,098       93,309  

Swire Pacific Ltd., Class A

    2,740       15,616  

Swire Pacific Ltd., Class B

    5,440       5,116  

Swire Properties Ltd.

    5,903       14,060  

Techtronic Industries Co. Ltd.

    7,062       94,292  

United Energy Group Ltd.

    41,446       4,888  

Vinda International Holdings Ltd.(b)

    1,117       2,694  

Vitasoy International Holdings Ltd.(b)

    4,362       7,917  

VTech Holdings Ltd.

    875       6,178  

WH Group Ltd.

    42,789       29,454  

Wharf Real Estate Investment Co. Ltd.

    8,738       40,981  

Yue Yuen Industrial Holdings Ltd.(a)

    3,844       5,648  
   

 

 

 
      2,253,460  
   

 

 

 

Indonesia-0.01%

   

First Pacific Co. Ltd.

    13,111       5,274  

Golden Agri-Resources Ltd.

    35,054       8,192  
   

 

 

 
      13,466  
   

 

 

 

Ireland-0.55%

   

AIB Group PLC

    4,327       9,328  

CRH PLC

    4,267       168,818  

Flutter Entertainment PLC(a)

    966       96,901  

Glanbia PLC

    1,037       12,449  

Kerry Group PLC, Class A

    849       93,791  

Kingspan Group PLC

    833       76,359  

Smurfit Kappa Group PLC

    1,430       59,948  
   

 

 

 
      517,594  
   

 

 

 

Israel-0.77%

   

AFI Properties Ltd.

    92       5,586  

Airport City Ltd.(a)

    407       9,074  

Alony Hetz Properties & Investments Ltd.

    592       9,659  

Amot Investments Ltd.

    777       5,897  

Ashtrom Group Ltd.(b)

    221       6,177  

Azrieli Group Ltd.

    222       19,031  

Bank Hapoalim BM

    7,371       68,191  

Bank Leumi Le-Israel BM

    8,170       85,629  

Bezeq The Israeli Telecommunication Corp. Ltd.(a)

    11,807       18,720  

 

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

 

  9  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares             Value      

Israel-(continued)

   

Big Shopping Centers Ltd.

    74     $ 11,217  

Camtek Ltd.(a)

    147       4,278  

Elbit Systems Ltd.

    147       31,968  

Elco Ltd.

    52       4,046  

Electra Ltd.

    10       6,869  

Energix-Renewable Energies Ltd.

    1,036       3,533  

Enlight Renewable Energy Ltd.(a)

    5,091       10,977  

Fattal Holdings 1998 Ltd.(a)

    45       6,473  

First International Bank of Israel Ltd. (The)

    296       12,421  

Fox Wizel Ltd.

    38       5,539  

Gav-Yam Lands Corp. Ltd.

    554       6,079  

Gazit-Globe Ltd

    481       4,539  

Harel Insurance Investments & Financial Services Ltd.

    629       7,690  

ICL Group Ltd.

    4,005       44,369  

Israel Corp. Ltd. (The)(a)

    20       11,331  

Israel Discount Bank Ltd., Class A

    6,753       39,851  

Maytronics Ltd.

    258       4,595  

Melisron Ltd.(a)

    111       9,003  

Mivne Real Estate KD Ltd.

    3,894       14,649  

Mizrahi Tefahot Bank Ltd.

    740       27,359  

Nice Ltd.(a)

    372       76,904  

Nova Ltd.(a)

    149       14,260  

OPC Energy Ltd.(a)

    407       4,477  

Paz Oil Co. Ltd.(a)

    86       13,350  

Phoenix Holdings Ltd. (The)

    703       8,806  

Sapiens International Corp. N.V

    148       3,458  

Shapir Engineering and Industry
Ltd.(b)

    629       5,871  

Shikun & Binui Ltd.(a)

    1,182       6,979  

Shufersal Ltd.(b)

    629       5,301  

Strauss Group Ltd.

    222       5,923  

Teva Pharmaceutical Industries
Ltd.(a)(b)

    5,570       48,984  

Tower Semiconductor Ltd.(a)

    592       28,453  
   

 

 

 
      717,516  
   

 

 

 

Italy-1.97%

   

A2A S.p.A.

    8,343       14,222  

Amplifon S.p.A.

    703       27,973  

Assicurazioni Generali S.p.A.(b)

    7,159       135,106  

Atlantia S.p.A.(a)

    2,714       64,429  

Banca Mediolanum S.p.A.

    1,325       9,542  

Buzzi Unicem S.p.A.(b)

    513       9,437  

Coca-Cola HBC AG

    1,076       21,721  

Davide Campari-Milano N.V.

    2,725       30,667  

De Longhi S.p.A.(b)

    389       9,409  

DiaSorin S.p.A.

    150       19,608  

Enel S.p.A.

    42,862       277,020  

Eni S.p.A.

    13,658       191,649  

Ferrari N.V.

    685       144,488  

FinecoBank Banca Fineco S.p.A.

    3,365       46,358  

Hera S.p.A.

    4,334       16,121  

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

    1,941       20,680  

Interpump Group S.p.A.

    443       17,827  

Intesa Sanpaolo S.p.A.

    91,560       184,131  

Italgas S.p.A.

    2,700       17,431  

Iveco Group N.V.(a)

    1,085       6,465  

Leonardo S.p.A.(a)

    2,206       22,863  

Mediobanca Banca di Credito Finanziario S.p.A.

    3,832       38,101  

Moncler S.p.A.

    1,185       61,549  
        Shares             Value      

Italy-(continued)

   

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

    4,094     $ 40,240  

Pirelli & C S.p.A.(c)

    2,698       13,231  

Poste Italiane S.p.A.(c)

    2,516       24,427  

PRADA S.p.A.

    2,843       17,519  

Prysmian S.p.A.

    1,453       47,107  

Recordati Industria Chimica e Farmaceutica S.p.A.

    534       25,564  

Reply S.p.A.

    148       21,715  

Snam S.p.A.

    12,287       67,428  

Telecom Italia S.p.A.(b)

    59,181       17,157  

Telecom Italia S.p.A., RSP

    33,268       9,172  

Terna Rete Elettrica Nazionale S.p.A

    7,773       63,314  

UniCredit S.p.A.(b)

    11,812       107,728  

UnipolSai Assicurazioni S.p.A.(b)

    2,347       6,570  
   

 

 

 
      1,847,969  
   

 

 

 

Japan-22.19%

   

ABC-Mart, Inc.

    148       6,112  

Acom Co. Ltd.

    2,067       5,333  

Activia Properties, Inc.

    4       12,782  

Advance Residence Investment Corp.

    7       19,261  

Advantest Corp.

    1,082       74,618  

Aeon Co. Ltd.

    3,867       73,543  

AEON Financial Service Co. Ltd.

    666       6,116  

Aeon Mall Co. Ltd.

    703       8,536  

AEON REIT Investment Corp.

    9       10,344  

AGC, Inc.

    1,036       38,975  

Aica Kogyo Co. Ltd.

    296       6,844  

Ain Holdings, Inc.

    148       6,671  

Air Water, Inc.(b)

    888       11,765  

Aisin Corp.

    962       27,972  

Ajinomoto Co., Inc.

    2,649       69,064  

Alfresa Holdings Corp.

    936       12,770  

Alps Alpine Co. Ltd.

    1,110       9,785  

Amada Co. Ltd.

    1,750       13,642  

Amano Corp.

    370       7,142  

ANA Holdings, Inc.(a)

    866       16,344  

Anritsu Corp.

    777       9,807  

Aozora Bank Ltd.

    666       13,334  

Ariake Japan Co. Ltd.

    111       4,454  

As One Corp.

    148       7,785  

Asahi Group Holdings Ltd.

    2,442       91,329  

Asahi Intecc Co. Ltd.

    1,073       21,036  

Asahi Kasei Corp.

    6,774       55,839  

Asics Corp.

    961       14,999  

ASKUL Corp.

    222       2,696  

Astellas Pharma, Inc.

    10,240       156,335  

Azbil Corp.

    740       22,627  

Bandai Namco Holdings, Inc.

    1,108       75,528  

Bank of Kyoto Ltd. (The)

    407       17,704  

BayCurrent Consulting, Inc.

    74       24,501  

Benefit One, Inc.

    333       5,004  

Benesse Holdings, Inc.

    407       7,142  

Bic Camera, Inc.

    788       6,653  

BIPROGY, Inc.

    370       9,424  

Bridgestone Corp.

    3,309       121,314  

Brother Industries Ltd.

    1,330       23,158  

Calbee, Inc.

    444       7,968  

Canon Marketing Japan, Inc.

    259       5,636  

Canon, Inc.(b)

    5,508       126,773  

 

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

 

  10  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares              Value      

Japan-(continued)

    

Capcom Co. Ltd.

    1,036      $ 27,382  

Casio Computer Co. Ltd.

    1,184        12,172  

Central Japan Railway Co.

    1,034        130,674  

Chiba Bank Ltd. (The)

    3,315        19,087  

Chubu Electric Power Co., Inc.

    3,831        38,795  

Chugai Pharmaceutical Co. Ltd.

    3,571        107,347  

Chugoku Bank Ltd. (The)

    899        6,622  

Chugoku Electric Power Co., Inc. (The)

    1,649        10,869  

Coca-Cola Bottlers Japan Holdings, Inc.

    751        8,441  

COMSYS Holdings Corp.

    628        13,092  

Concordia Financial Group Ltd.

    6,157        22,431  

Cosmo Energy Holdings Co. Ltd.

    617        15,287  

Cosmos Pharmaceutical Corp.

    116        10,794  

Credit Saison Co. Ltd.

    825        9,266  

CyberAgent, Inc.

    2,158        22,977  

Dai Nippon Printing Co. Ltd.

    1,428        29,891  

Daicel Corp.

    1,456        8,885  

Daido Steel Co. Ltd.

    222        6,370  

Daifuku Co. Ltd.

    553        34,191  

Dai-ichi Life Holdings, Inc.

    5,467        109,901  

Daiichi Sankyo Co. Ltd.

    10,595        266,756  

Daiichikosho Co. Ltd.

    222        6,063  

Daikin Industries Ltd.

    1,492        229,791  

Daio Paper Corp.

    443        5,289  

Daito Trust Construction Co. Ltd.

    369        35,575  

Daiwa House Industry Co. Ltd.

    3,499        84,653  

Daiwa House REIT Investment Corp.

    12        29,176  

Daiwa Office Investment Corp.

    2        11,362  

Daiwa Securities Group, Inc.

    8,031        39,358  

DeNA Co. Ltd.(a)

    482        6,995  

Denka Co. Ltd.

    481        12,884  

Denso Corp.

    2,464        150,617  

Dentsu Group, Inc.

    1,219        44,132  

Descente Ltd.

    200        3,880  

DIC Corp.

    481        9,161  

Disco Corp.

    148        36,539  

DMG Mori Co. Ltd.

    592        7,463  

Dowa Holdings Co. Ltd.

    259        11,075  

East Japan Railway Co.

    2,039        107,066  

Ebara Corp.

    518        23,966  

Eisai Co. Ltd.

    1,492        65,093  

Electric Power Development Co. Ltd.

    862        11,889  

ENEOS Holdings, Inc.

    16,459        57,792  

EXEO Group, Inc.

    518        8,643  

Ezaki Glico Co. Ltd.

    296        8,520  

Fancl Corp.

    370        7,117  

FANUC Corp.

    1,072        166,077  

Fast Retailing Co. Ltd.

    284        130,358  

Food & Life Cos. Ltd.

    592        14,120  

FP Corp.

    258        5,800  

Fuji Electric Co. Ltd.

    666        29,387  

Fuji Kyuko Co. Ltd.

    101        3,205  

Fuji Media Holdings, Inc.

    259        2,238  

Fuji Oil Holdings, Inc.

    259        3,690  

FUJIFILM Holdings Corp.

    1,999        110,673  

Fujitsu General Ltd.

    333        5,928  

Fujitsu Ltd.

    1,020        144,444  

Fukuoka Financial Group, Inc.

    851        15,560  

Fukuyama Transporting Co. Ltd.

    185        5,182  

Furukawa Electric Co. Ltd.

    370        6,034  
        Shares              Value      

Japan-(continued)

    

Fuyo General Lease Co. Ltd.

    111      $ 6,007  

GLP J-Reit

    23        30,943  

GMO internet, Inc.

    333        6,716  

GMO Payment Gateway, Inc.

    222        18,776  

GOLDWIN, Inc.

    186        9,244  

GS Yuasa Corp.

    444        7,738  

GungHo Online Entertainment, Inc.

    185        3,793  

H.U. Group Holdings, Inc.

    296        6,622  

Hachijuni Bank Ltd. (The)

    2,452        8,086  

Hakuhodo DY Holdings, Inc.

    1,331        15,762  

Hamamatsu Photonics K.K.

    703        31,656  

Hankyu Hanshin Holdings, Inc.

    1,220        32,259  

Haseko Corp.

    1,455        15,942  

Heiwa Corp.

    296        4,434  

Hikari Tsushin, Inc.

    111        12,851  

Hino Motors Ltd.

    1,501        7,778  

Hirogin Holdings, Inc.

    1,649        8,171  

Hirose Electric Co. Ltd.

    185        23,598  

Hisamitsu Pharmaceutical Co., Inc.

    407        11,192  

Hitachi Construction Machinery Co. Ltd.

    629        14,278  

Hitachi Ltd.

    5,102        237,976  

Hitachi Metals Ltd.(a)

    1,070        16,749  

Hitachi Transport System Ltd.

    184        12,128  

Honda Motor Co. Ltd.

    9,448        248,494  

Horiba Ltd.

    222        10,822  

Hoshizaki Corp.

    296        18,793  

House Foods Group, Inc.

    407        9,538  

Hoya Corp.

    2,010        200,587  

Hulic Co. Ltd.

    2,119        17,904  

Ibiden Co. Ltd.

    592        22,466  

Idemitsu Kosan Co. Ltd.

    1,308        34,376  

IHI Corp.

    703        15,939  

Iida Group Holdings Co. Ltd.

    814        13,056  

Industrial & Infrastructure Fund Investment Corp.

    10        14,362  

Information Services International-Dentsu Ltd.

    112        3,201  

INFRONEER Holdings, Inc.

    1,377        10,101  

Inpex Corp.

    4,728        55,907  

Internet Initiative Japan, Inc.

    296        9,346  

Isetan Mitsukoshi Holdings Ltd.

    1,872        13,877  

Isuzu Motors Ltd.

    2,870        33,478  

Ito En Ltd.

    297        12,213  

ITOCHU Corp.

    7,640        231,503  

Itochu Techno-Solutions Corp.

    553        13,040  

Itoham Yonekyu Holdings, Inc.

    777        3,940  

Iwatani Corp.

    260        10,394  

Iyo Bank Ltd. (The)

    1,538        7,454  

Izumi Co. Ltd.

    222        4,794  

J. Front Retailing Co. Ltd.

    1,356        10,158  

Japan Airlines Co. Ltd.(a)

    1,022        16,905  

Japan Airport Terminal Co. Ltd.(a)

    259        10,753  

Japan Aviation Electronics Industry Ltd.

    259        3,629  

Japan Exchange Group, Inc.

    2,871        43,127  

Japan Hotel REIT Investment Corp.

    25        12,619  

Japan Logistics Fund, Inc.

    5        12,272  

Japan Metropolitan Fund Investment Corp.

    37        29,501  

Japan Post Bank Co. Ltd.

    2,204        16,705  

Japan Post Holdings Co. Ltd.

    12,241        85,922  

Japan Post Insurance Co. Ltd.

    1,110        18,034  

Japan Prime Realty Investment Corp.

    5        15,195  

 

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

 

  11  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares              Value      

Japan-(continued)

    

Japan Real Estate Investment Corp.

    7      $ 33,888  

Japan Steel Works Ltd. (The)

    300        8,482  

Japan Tobacco, Inc.

    6,479        111,026  

JCR Pharmaceuticals Co. Ltd.

    296        5,473  

Jeol Ltd.

    223        10,158  

JFE Holdings, Inc.

    2,796        34,480  

JGC Holdings Corp.

    1,171        13,331  

JSR Corp.

    999        27,283  

JTEKT Corp.

    1,245        8,681  

JustSystems Corp.

    185        8,041  

Kadokawa Corp.

    546        13,748  

Kagome Co. Ltd.

    444        11,124  

Kajima Corp.

    2,389        26,681  

Kakaku.com, Inc.

    738        15,546  

Kaken Pharmaceutical Co. Ltd.

    185        5,609  

Kamigumi Co. Ltd.

    592        10,079  

Kandenko Co. Ltd.

    592        3,759  

Kaneka Corp.

    333        8,930  

Kansai Electric Power Co., Inc. (The)

    3,993        35,134  

Kansai Paint Co. Ltd.

    1,073        14,860  

Kao Corp.

    2,601        104,772  

Katitas Co. Ltd.

    300        7,025  

Kawasaki Heavy Industries Ltd.

    851        15,117  

Kawasaki Kisen Kaisha Ltd.

    445        23,107  

KDDI Corp.

    9,165        304,374  

Keihan Holdings Co. Ltd.

    555        11,882  

Keikyu Corp.

    1,356        13,690  

Keio Corp.

    664        25,529  

Keisei Electric Railway Co. Ltd.(b)

    776        19,077  

Kenedix Office Investment Corp.(b)

    2        10,444  

Kewpie Corp.

    591        10,017  

Keyence Corp.

    999        403,722  

Kikkoman Corp.

    1,034        58,224  

Kinden Corp.

    701        8,304  

Kintetsu Group Holdings Co. Ltd.

    1,036        29,794  

Kirin Holdings Co. Ltd.

    4,214        61,987  

Kobayashi Pharmaceutical Co.
Ltd.(b)

    333        22,788  

Kobe Bussan Co. Ltd.

    758        18,490  

Kobe Steel Ltd.

    1,786        7,811  

Koei Tecmo Holdings Co. Ltd.

    443        13,512  

Koito Manufacturing Co. Ltd.

    629        23,136  

Kokuyo Co. Ltd.

    481        6,279  

Komatsu Ltd.

    5,064        113,794  

Konami Holdings Corp.

    518        32,145  

Konica Minolta, Inc.

    2,511        8,779  

Kose Corp.

    148        15,353  

Kotobuki Spirits Co. Ltd.

    111        5,872  

K’s Holdings Corp.

    862        8,568  

Kubota Corp.

    6,026        102,805  

Kuraray Co. Ltd.

    1,936        15,527  

Kurita Water Industries Ltd.

    627        21,573  

Kusuri no Aoki Holdings Co. Ltd.

    74        3,284  

Kyocera Corp.

    1,749        92,647  

Kyowa Kirin Co. Ltd.

    1,404        29,532  

Kyudenko Corp.

    222        5,045  

Kyushu Electric Power Co., Inc.

    2,548        16,072  

Kyushu Financial Group, Inc.

    2,004        6,156  

Kyushu Railway Co.

    825        16,224  

LaSalle Logiport REIT

    10        13,569  

Lasertec Corp.

    443        59,965  
        Shares              Value      

Japan-(continued)

    

Lawson, Inc.

    259      $ 9,536  

Lintec Corp.

    296        5,554  

Lion Corp.

    1,418        14,629  

Lixil Corp.

    1,491        26,287  

M3, Inc.

    2,442        78,757  

Mabuchi Motor Co. Ltd.

    296        7,936  

Makita Corp.

    1,381        41,099  

Mani, Inc.

    333        3,769  

Marubeni Corp.(b)

    8,635        94,808  

Marui Group Co. Ltd.

    1,045        18,044  

Maruichi Steel Tube Ltd.

    370        7,908  

Maruwa Unyu Kikan Co. Ltd.

    258        3,029  

Matsui Securities Co. Ltd.

    592        3,671  

MatsukiyoCocokara & Co.

    644        21,399  

Mazda Motor Corp.

    3,128        22,341  

Mebuki Financial Group, Inc.

    5,149        10,412  

Medipal Holdings Corp.

    813        13,340  

MEIJI Holdings Co. Ltd.

    740        37,010  

Menicon Co. Ltd.

    260        5,569  

MINEBEA MITSUMI, Inc.

    2,204        42,603  

MISUMI Group, Inc.

    1,566        39,454  

Mitsubishi Chemical Holdings Corp.

    6,974        42,686  

Mitsubishi Corp.

    6,705        225,369  

Mitsubishi Electric Corp.

    10,740        113,075  

Mitsubishi Estate Co. Ltd.

    6,320        91,693  

Mitsubishi Gas Chemical Co., Inc.

    999        14,706  

Mitsubishi HC Capital, Inc.

    3,471        15,638  

Mitsubishi Heavy Industries Ltd.

    1,538        52,648  

Mitsubishi Logistics Corp.

    334        7,725  

Mitsubishi Materials Corp.

    640        10,043  

Mitsubishi Motors Corp.(a)

    3,446        8,658  

Mitsubishi UFJ Financial Group, Inc.

    68,545        399,070  

Mitsui & Co. Ltd.

    8,684        211,135  

Mitsui Chemicals, Inc.

    997        22,819  

Mitsui Fudosan Co. Ltd.

    5,100        107,792  

Mitsui Fudosan Logistics Park, Inc.

    3        12,863  

Mitsui High-Tec, Inc.

    168        14,688  

Mitsui Mining & Smelting Co. Ltd.

    333        8,482  

Mitsui OSK Lines Ltd.

    1,887        43,998  

Miura Co. Ltd.

    554        11,626  

Mizuho Financial Group, Inc.

    13,997        170,533  

Money Forward, Inc.(a)

    333        11,313  

MonotaRO Co. Ltd.

    1,245        21,622  

Mori Hills REIT Investment Corp.

    9        10,199  

Morinaga & Co. Ltd.

    222        6,896  

Morinaga Milk Industry Co. Ltd.

    222        8,982  

MS&AD Insurance Group Holdings, Inc.

    2,527        75,697  

Murata Manufacturing Co. Ltd.

    3,176        190,465  

Nabtesco Corp.

    629        14,394  

Nagase & Co. Ltd.

    629        9,023  

Nagoya Railroad Co. Ltd.

    1,073        17,293  

Nankai Electric Railway Co. Ltd.

    629        11,254  

NEC Corp.

    1,491        57,903  

NEC Networks & System Integration Corp.

    407        5,788  

NET One Systems Co. Ltd.

    481        11,489  

Nexon Co. Ltd..

    2,306        52,745  

NGK Insulators Ltd.

    1,441        19,423  

NGK Spark Plug Co. Ltd.

    1,110        17,064  

NH Foods Ltd.

    554        17,553  

NHK Spring Co. Ltd.

    862        5,584  

 

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

 

  12  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares              Value      

Japan-(continued)

    

Nichirei Corp.

    529      $ 9,725  

Nidec Corp.

    2,601        170,672  

Nifco, Inc.

    445        9,353  

Nihon Kohden Corp.

    407        9,828  

Nihon M&A Center Holdings, Inc.

    1,456        18,041  

Nikon Corp.

    1,824        20,630  

Nintendo Co. Ltd.

    592        273,282  

Nippon Accommodations Fund, Inc.

    3        14,769  

Nippon Building Fund, Inc.

    9        46,705  

Nippon Electric Glass Co. Ltd.

    381        7,714  

Nippon Express Holdings, Inc.

    371        21,877  

Nippon Kayaku Co. Ltd.

    899        7,842  

Nippon Paint Holdings Co. Ltd.(b)

    5,600        44,675  

Nippon Prologis REIT, Inc.

    13        36,127  

Nippon Sanso Holdings Corp.

    812        14,600  

Nippon Shinyaku Co. Ltd.

    296        20,079  

Nippon Shokubai Co. Ltd.

    185        7,502  

Nippon Steel Corp.

    4,509        72,024  

Nippon Telegraph & Telephone Corp.

    6,626        196,064  

Nippon Television Holdings, Inc.

    148        1,423  

Nippon Yusen K.K.

    888        63,825  

Nipro Corp.

    603        4,765  

Nishi-Nippon Railroad Co. Ltd.

    444        8,910  

Nissan Chemical Corp.

    740        39,279  

Nissan Motor Co. Ltd.(a)

    10,682        42,432  

Nisshin Seifun Group, Inc.

    1,441        19,178  

Nissin Foods Holdings Co. Ltd.

    371        25,915  

Nitori Holdings Co. Ltd.

    407        41,475  

Nitto Denko Corp.

    814        54,747  

Noevir Holdings Co. Ltd.

    74        2,907  

NOF Corp.

    370        13,887  

NOK Corp.

    666        5,688  

Nomura Holdings, Inc.

    16,491        63,226  

Nomura Real Estate Holdings, Inc.

    628        15,254  

Nomura Real Estate Master Fund, Inc.

    25        31,347  

Nomura Research Institute Ltd.

    1,455        41,297  

NS Solutions Corp.

    185        5,541  

NSK Ltd.

    2,389        13,217  

NTT Data Corp.

    3,460        63,872  

Obayashi Corp.

    3,683        25,421  

OBIC Business Consultants Co. Ltd.

    174        6,287  

Obic Co. Ltd.

    370        54,842  

Odakyu Electric Railway Co. Ltd.

    1,649        25,071  

Oji Holdings Corp.

    4,878        23,110  

OKUMA Corp.

    149        5,350  

Olympus Corp.

    5,754        102,086  

Omron Corp.

    1,036        61,486  

Ono Pharmaceutical Co. Ltd.

    2,316        59,580  

Open House Group Co. Ltd.

    370        14,348  

Orient Corp.

    3,113        2,999  

Oriental Land Co. Ltd.

    1,036        156,192  

ORIX Corp.

    6,665        121,787  

ORIX JREIT, Inc.

    14        18,813  

Osaka Gas Co. Ltd.

    2,130        38,552  

OSG Corp.

    407        5,110  

Otsuka Corp.

    590        19,401  

Otsuka Holdings Co. Ltd.

    2,278        76,574  

Paltac Corp.

    185        6,756  

Pan Pacific International Holdings Corp.

    2,180        33,837  

Panasonic Holdings Corp.

    11,727        104,698  
        Shares              Value      

Japan-(continued)

    

Park24 Co. Ltd.(a)

    629      $ 8,989  

Penta-Ocean Construction Co. Ltd.

    1,575        7,726  

PeptiDream, Inc.(a)

    481        7,766  

Persol Holdings Co. Ltd.

    925        18,429  

Pigeon Corp.

    629        10,676  

Pola Orbis Holdings, Inc.

    444        5,141  

Rakus Co. Ltd.

    553        6,741  

Rakuten Group, Inc.

    4,472        31,576  

Recruit Holdings Co. Ltd.

    7,898        291,822  

Relo Group, Inc.

    592        8,510  

Renesas Electronics Corp.(a)

    5,422        58,149  

Rengo Co. Ltd.

    1,121        6,650  

RENOVA, Inc.(a)

    258        3,178  

Resona Holdings, Inc.

    11,951        51,947  

Resorttrust, Inc.

    370        6,181  

Ricoh Co. Ltd.

    3,335        24,421  

Rinnai Corp.

    186        11,804  

Rohm Co. Ltd.

    445        31,377  

Rohto Pharmaceutical Co. Ltd.

    555        14,833  

Ryohin Keikaku Co. Ltd.

    1,345        12,097  

Sankyo Co. Ltd.

    258        7,443  

Sankyu, Inc.

    296        9,019  

Sansan, Inc.(a)

    444        4,259  

Santen Pharmaceutical Co. Ltd.

    2,009        16,441  

Sanwa Holdings Corp.

    1,047        9,565  

Sapporo Holdings Ltd.

    370        7,694  

Sawai Group Holdings Co. Ltd.

    222        7,462  

SBI Holdings, Inc.(b)

    1,345        30,151  

SCREEN Holdings Co. Ltd.

    222        18,217  

SCSK Corp.

    703        11,230  

Secom Co. Ltd.

    1,073        75,822  

Sega Sammy Holdings, Inc.

    1,047        18,622  

Seibu Holdings, Inc.

    1,147        11,438  

Seiko Epson Corp.

    1,529        21,386  

Seino Holdings Co. Ltd.

    751        6,139  

Sekisui Chemical Co. Ltd.

    1,835        24,824  

Sekisui House Ltd.

    3,128        54,037  

Sekisui House REIT, Inc.

    23        13,499  

Seven & i Holdings Co. Ltd.

    4,250        187,569  

Seven Bank Ltd.

    3,531        6,613  

SG Holdings Co. Ltd.

    2,379        41,989  

Sharp Corp.

    1,486        12,575  

SHIFT, Inc.(a)

    73        13,876  

Shikoku Electric Power Co., Inc.

    888        5,128  

Shimadzu Corp.

    1,451        47,782  

Shimamura Co. Ltd.

    111        9,860  

Shimano, Inc.

    443        77,550  

Shimizu Corp.

    2,944        15,490  

Shin-Etsu Chemical Co. Ltd.

    2,232        308,236  

Shinko Electric Industries Co. Ltd.

    370        16,098  

Shinsei Bank Ltd.(a)

    362        6,352  

Shionogi & Co. Ltd.

    1,529        85,809  

Ship Healthcare Holdings, Inc.

    444        7,451  

Shiseido Co. Ltd.

    2,204        104,037  

Shizuoka Bank Ltd. (The)

    2,722        17,669  

SHO-BOND Holdings Co. Ltd.

    259        10,932  

Shochiku Co. Ltd.(a)

    38        3,886  

Showa Denko K.K.

    1,135        22,048  

Skylark Holdings Co. Ltd.

    1,110        13,204  

SMC Corp.

    319        154,443  

 

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

 

  13  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares              Value      

Japan-(continued)

    

SMS Co. Ltd.

    259      $ 5,990  

Softbank Corp.

    15,044        175,114  

SoftBank Group Corp.

    7,308        295,522  

Sohgo Security Services Co. Ltd.

    370        10,312  

Sojitz Corp.

    1,221        18,693  

Sompo Holdings, Inc.

    1,761        71,835  

Sony Group Corp.

    6,888        593,016  

Sotetsu Holdings, Inc.

    444        7,643  

Square Enix Holdings Co. Ltd.

    444        17,805  

Stanley Electric Co. Ltd.

    813        14,020  

Subaru Corp.

    3,315        49,956  

Sugi Holdings Co. Ltd.

    185        7,968  

SUMCO Corp.

    1,571        22,774  

Sumitomo Bakelite Co. Ltd.

    185        6,106  

Sumitomo Chemical Co. Ltd.

    8,303        35,222  

Sumitomo Corp.

    6,210        98,658  

Sumitomo Electric Industries Ltd.

    4,140        44,521  

Sumitomo Forestry Co. Ltd.

    777        11,949  

Sumitomo Heavy Industries Ltd.

    666        14,093  

Sumitomo Metal Mining Co. Ltd.

    1,330        57,894  

Sumitomo Mitsui Financial Group, Inc.

    7,339        221,297  

Sumitomo Mitsui Trust Holdings,
Inc.(b)

    2,047        63,519  

Sumitomo Pharma Co. Ltd.

    962        8,573  

Sumitomo Realty & Development Co. Ltd.

    2,131        56,311  

Sumitomo Rubber Industries Ltd.

    1,036        8,981  

Sundrug Co. Ltd.

    370        8,625  

Suntory Beverage & Food Ltd.

    702        27,919  

Suzuken Co. Ltd..

    444        13,160  

Suzuki Motor Corp.

    2,489        74,780  

Sysmex Corp.

    1,071        69,480  

T&D Holdings, Inc.

    2,906        37,358  

Taiheiyo Cement Corp.

    664        10,760  

Taisei Corp.

    851        23,114  

Taisho Pharmaceutical Holdings Co. Ltd.

    259        10,174  

Taiyo Yuden Co. Ltd.

    666        26,329  

Takara Bio, Inc.

    259        4,178  

Takara Holdings, Inc.

    936        7,894  

Takashimaya Co. Ltd.

    751        6,832  

Takeda Pharmaceutical Co. Ltd.

    8,450        245,537  

TBS Holdings, Inc.

    222        2,918  

TDK Corp.

    1,945        60,855  

TechnoPro Holdings, Inc.

    592        14,842  

Teijin Ltd.

    1,036        11,135  

Terumo Corp.

    3,609        108,061  

THK Co. Ltd.

    566        11,272  

TIS, Inc.

    1,345        30,324  

Tobu Railway Co. Ltd.

    1,145        25,777  

Toda Corp.

    1,282        7,411  

Toho Co. Ltd.

    628        23,350  

Toho Gas Co. Ltd.

    518        12,191  

Tohoku Electric Power Co., Inc.

    2,573        14,339  

Tokai Carbon Co. Ltd.

    1,047        8,660  

Tokio Marine Holdings, Inc.

    3,535        191,082  

Tokyo Century Corp.(b)

    334        10,284  

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

    8,563        29,610  

Tokyo Electron Ltd.

    827        351,407  

Tokyo Gas Co. Ltd.

    2,379        45,740  

Tokyo Ohka Kogyo Co. Ltd.

    221        12,120  

Tokyo Tatemono Co. Ltd.

    1,109        15,578  

Tokyu Corp.

    2,749        33,668  
        Shares              Value      

Japan-(continued)

    

Tokyu Fudosan Holdings Corp.

    3,361      $ 17,502  

Toppan, Inc.

    1,551        25,695  

Toray Industries, Inc.

    8,340        39,728  

Toshiba Corp.

    2,352        98,439  

Toshiba TEC Corp.

    148        5,055  

Tosoh Corp.

    1,566        21,618  

TOTO Ltd.

    813        27,396  

Toyo Seikan Group Holdings Ltd.

    814        8,833  

Toyo Suisan Kaisha Ltd.

    518        16,013  

Toyo Tire Corp.

    592        6,787  

Toyoda Gosei Co. Ltd.

    444        6,420  

Toyota Boshoku Corp.

    370        5,919  

Toyota Industries Corp.

    888        53,160  

Toyota Motor Corp.

    67,368        1,149,853  

Toyota Tsusho Corp.

    1,256        45,334  

Trend Micro, Inc.

    664        37,054  

TS Tech Co. Ltd.

    592        6,130  

Tsumura & Co.

    370        9,105  

Tsuruha Holdings, Inc.

    186        9,532  

UBE Corp.

    554        8,656  

Ulvac, Inc.

    260        10,290  

Unicharm Corp.

    2,194        76,440  

United Urban Investment Corp.

    16        17,467  

Ushio, Inc.

    628        8,213  

USS Co. Ltd.

    1,183        19,558  

Welcia Holdings Co. Ltd.

    555        11,476  

West Japan Railway Co.

    1,294        48,257  

Yakult Honsha Co. Ltd.

    703        36,463  

Yamada Holdings Co. Ltd.(a)

    4,088        12,199  

Yamaguchi Financial Group, Inc.

    1,245        6,827  

Yamaha Corp.

    886        34,065  

Yamaha Motor Co. Ltd.

    1,675        34,636  

Yamato Holdings Co. Ltd.

    1,797        33,761  

Yamato Kogyo Co. Ltd.

    185        5,997  

Yamazaki Baking Co. Ltd.

    640        7,933  

Yaoko Co. Ltd.

    111        5,876  

Yaskawa Electric Corp.

    1,455        49,724  

Yokogawa Electric Corp.

    1,319        21,118  

Yokohama Rubber Co. Ltd. (The)

    529        7,069  

Z Holdings Corp.

    14,335        56,625  

Zenkoku Hosho Co. Ltd.

    296        10,407  

Zensho Holdings Co. Ltd.

    555        13,132  

Zeon Corp.

    751        8,055  

ZOZO, Inc.

    627        12,820  
    

 

 

 
       20,806,212  
    

 

 

 

Jordan-0.02%

    

Hikma Pharmaceuticals PLC

    931        21,884  
    

 

 

 
Luxembourg-0.19%     

ArcelorMittal S.A.

    3,237        94,493  

Eurofins Scientific SE

    669        62,171  

L’Occitane International S.A.

    2,466        7,755  

RTL Group S.A.(b)

    213        11,118  
    

 

 

 
       175,537  
    

 

 

 

Macau-0.12%

    

Galaxy Entertainment Group Ltd.

    11,968        68,369  

MGM China Holdings Ltd.(a)

    3,956        2,256  

Sands China Ltd.(a)

    13,081        28,722  

 

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

 

  14  

 

 

 

 


 

Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)

April 30, 2022

(Unaudited)

 

        Shares              Value      

Macau-(continued)

    

SJM Holdings Ltd.(a)

    9,892      $ 4,169  

Wynn Macau Ltd.(a)

    7,895        4,818  
    

 

 

 
       108,334  
    

 

 

 

Mexico-0.01%

    

Fresnillo PLC(b)

    1,017        9,988  
    

 

 

 

Netherlands-4.98%

    

Aalberts N.V.

    530        25,551  

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

    2,283        28,478  

Adyen N.V.(a)(b)(c)

    165        275,956  

Aegon N.V.

    9,764        50,511  

Akzo Nobel N.V.

    947        81,707  

Argenx SE(a)(b)

    281        80,789  

ASM International N.V.

    275        82,120  

ASML Holding N.V.(b)

    2,120        1,199,430  

ASR Nederland N.V.

    721        32,627  

BE Semiconductor Industries N.V.(b)

    401        24,282  

CTP N.V.(c)

    333        4,681  

Euronext N.V.(c)

    445        35,727  

EXOR N.V.

    570        39,242  

Heineken Holding N.V.

    583        45,441  

Heineken N.V.(b)

    1,313        128,061  

IMCD N.V.

    314        49,883  

ING Groep N.V.

    20,839        195,015  

JDE Peet’s N.V.(b)

    460        13,510  

Koninklijke Ahold Delhaize N.V.(b)

    5,375        158,778  

Koninklijke DSM N.V.

    917        153,588  

Koninklijke KPN N.V.(b)

    17,934        62,028  

Koninklijke Philips N.V.

    4,829        126,684  

Koninklijke Vopak N.V.

    359        9,614  

NN Group N.V.

    1,712        83,653  

Prosus N.V.

    4,861        234,401  

Randstad N.V.

    609        32,203  

Shell PLC

    42,348        1,144,419  

Signify N.V.

    693        29,261  

Universal Music Group N.V.

    4,117        95,248  

Wolters Kluwer N.V.

    1,415        143,128  
    

 

 

 
       4,666,016  
    

 

 

 

New Zealand-0.33%

    

a2 Milk Co. Ltd. (The)(a)

    4,062        12,891  

Air New Zealand Ltd.(a)(b)

    2,797        1,587  

Auckland International Airport Ltd.(a)