

		Invesco Semi-Annual Report to Shareholders
		October 31, 2022
		PWB		Invesco Dynamic Large Cap Growth ETF
		PWV		Invesco Dynamic Large Cap Value ETF
		EQWL		Invesco S&P 100 Equal Weight ETF

		SPGP		Invesco S&P 500 GARP ETF

		SPVM		Invesco S&P 500 Value with Momentum ETF

		XMMO		Invesco S&P MidCap Momentum ETF

		XMHQ		Invesco S&P MidCap Quality ETF

		XMVM		Invesco S&P MidCap Value with Momentum ETF

		XSMO		Invesco S&P SmallCap Momentum ETF

		XSVM		Invesco S&P SmallCap Value with Momentum ETF

		CZA		Invesco Zacks Mid-Cap ETF

		CVY		Invesco Zacks Multi-Asset Income ETF

Table of Contents



Schedules of Investments

Invesco Dynamic Large Cap Growth ETF (PWB)			3

Invesco Dynamic Large Cap Value ETF (PWV)			5

Invesco S&P 100 Equal Weight ETF (EQWL)			7

Invesco S&P 500 GARP ETF (SPGP)			10

Invesco S&P 500 Value with Momentum ETF (SPVM)			13

Invesco S&P MidCap Momentum ETF (XMMO)			15

Invesco S&P MidCap Quality ETF (XMHQ)			18

Invesco S&P MidCap Value with Momentum ETF (XMVM)			21

Invesco S&P SmallCap Momentum ETF (XSMO)			24

Invesco S&P SmallCap Value with Momentum ETF (XSVM)			27

Invesco Zacks Mid-Cap ETF (CZA)			30

Invesco Zacks Multi-Asset Income ETF (CVY)			33

Statements of Assets and Liabilities			38

Statements of Operations			40

Statements of Changes in Net Assets			42

Financial Highlights			47

Notes to Financial Statements			59

Fund Expenses			71

Invesco Dynamic Large Cap Growth ETF (PWB)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.97%
Communication Services-3.01%
Alphabet, Inc., Class A^(b)		176,101	$	16,643,306


Consumer Discretionary-10.31%
Airbnb, Inc., Class A^(b)(c)		76,992		8,231,215
Booking Holdings, Inc.^(b)		4,307		8,051,850
Dollar Tree, Inc.^(b)(c)		51,721		8,197,779
Hilton Worldwide Holdings, Inc.		64,971		8,787,978
Marriott International, Inc., Class A^(c)		54,175		8,673,959
O’Reilly Automotive, Inc.^(b)		11,941		9,996,647
Tesla, Inc.^(b)		22,547		5,130,344

				57,069,772

Consumer Staples-6.32%
Brown-Forman Corp., Class B		112,239		7,632,252
Costco Wholesale Corp.		36,994		18,552,491
Hershey Co. (The)		36,955		8,823,745

				35,008,488

Energy-5.35%
Cheniere Energy, Inc.		50,245		8,863,720
Devon Energy Corp.^(c)		121,234		9,377,450
Schlumberger Ltd.		218,322		11,359,294

				29,600,464

Financials-4.63%
American Express Co.		54,613		8,107,300
Arthur J. Gallagher & Co.		46,121		8,628,317
Progressive Corp. (The)		69,074		8,869,101

				25,604,718

Health Care-14.61%
Eli Lilly and Co.		63,629		23,039,425
Humana, Inc.		17,435		9,730,125
Thermo Fisher Scientific, Inc.		34,993		17,985,352
UnitedHealth Group, Inc.		37,413		20,769,827
Vertex Pharmaceuticals, Inc.^(b)(c)		30,032		9,369,984

				80,894,713

Industrials-7.24%
Cintas Corp.		20,086		8,587,769
Old Dominion Freight Line, Inc.^(c)		29,428		8,080,929
Republic Services, Inc.		58,953		7,818,347
TransDigm Group, Inc.		13,451		7,744,548
Waste Management, Inc.^(c)		49,553		7,847,708

				40,079,301

Information Technology-43.67%
Adobe, Inc.^(b)		48,865		15,563,502
Advanced Micro Devices, Inc.^(b)		92,921		5,580,835
Amphenol Corp., Class A		110,890		8,408,789
Analog Devices, Inc.		52,272		7,455,033
Apple, Inc.		119,911		18,387,153
Arista Networks, Inc.^(b)		67,693		8,181,376



	Shares		Value
Information Technology-(continued)
Automatic Data Processing, Inc.		33,608	$	8,123,053
Broadcom, Inc.		37,850		17,794,042
Cadence Design Systems, Inc.^(b)(c)		46,899		7,100,040
Datadog, Inc., Class A^(b)		83,434		6,717,271
Enphase Energy, Inc.^(b)		30,115		9,245,305
Fortinet, Inc.^(b)		169,861		9,709,255
Mastercard, Inc., Class A		58,832		19,307,486
Microsoft Corp.		72,524		16,834,996
NVIDIA Corp.		116,700		15,750,999
NXP Semiconductors N.V. (China)		49,403		7,216,790
Paychex, Inc.		63,649		7,530,313
QUALCOMM, Inc.		61,065		7,184,908
salesforce.com, inc.^(b)(c)		113,920		18,522,253
Synopsys, Inc.^(b)		23,927		6,999,844
Visa, Inc., Class A^(c)		96,955		20,085,198

				241,698,441

Materials-1.64%
Corteva, Inc.		139,112		9,089,578


Utilities-3.19%
NextEra Energy, Inc.		227,895		17,661,862

Total Common Stocks & Other Equity Interests (Cost $560,627,318)				553,350,643


Money Market Funds-0.08%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e)(Cost $444,235)		444,235		444,235

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.05% (Cost $561,071,553)				553,794,878


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-13.60%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		21,077,241		21,077,241
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		54,186,056		54,186,056

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $75,259,737)				75,263,297

TOTAL INVESTMENTS IN SECURITIES-113.65% (Cost $636,331,290)				629,058,175
OTHER ASSETS LESS LIABILITIES-(13.65)%				(75,564,737	)

NET ASSETS-100.00%.			$	553,493,438

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



		3
		3

Invesco Dynamic Large Cap Growth ETF (PWB)–(continued)

October 31, 2022

(Unaudited)

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

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

^(d)

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



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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	14,052		$	5,673,658		$	(5,243,475	)		$	-		$	-			$	444,235		$	2,194

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			6,011,107			104,105,899			(89,039,765	)			-			-				21,077,241			51,452	*

Invesco Private Prime Fund			14,017,490			222,178,439			(182,009,557	)			2,725			(3,041	)			54,186,056			141,025	*


Total		$	20,042,649		$	331,957,996		$	(276,292,797	)		$	2,725		$	(3,041	)		$	75,707,532		$	194,671

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

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

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

Portfolio Composition

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

as of October 31, 2022



Information Technology			43.67

Health Care			14.61

Consumer Discretionary			10.31

Industrials			7.24

Consumer Staples			6.32

Energy			5.35

Financials			4.63

Utilities			3.19

Communication Services			3.01

Materials			1.64

Money Market Funds Plus Other Assets Less Liabilities			0.03

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



		4
		4

Invesco Dynamic Large Cap Value ETF (PWV)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.92%
Communication Services-1.94%
Meta Platforms, Inc., Class A^(b)		165,885	$	15,453,847


Consumer Staples-14.11%
Altria Group, Inc.		250,962		11,612,012
Archer-Daniels-Midland Co.		129,767		12,584,804
General Mills, Inc.		146,732		11,970,396
Kraft Heinz Co. (The)		295,104		11,352,651
Philip Morris International, Inc.		273,206		25,093,971
Sysco Corp.		133,988		11,598,001
Walmart, Inc.		199,440		28,386,295

				112,598,130

Energy-14.03%
Chevron Corp.		164,964		29,841,988
Energy Transfer L.P.		938,120		11,979,792
Kinder Morgan, Inc.		604,891		10,960,625
Marathon Petroleum Corp.		110,409		12,544,670
Occidental Petroleum Corp.		154,850		11,242,110
Phillips 66		125,003		13,036,563
Pioneer Natural Resources Co.		45,380		11,635,886
Williams Cos., Inc. (The)		325,349		10,648,673

				111,890,307

Financials-27.71%
Aflac, Inc.		185,524		12,079,468
American International Group, Inc.		210,542		12,000,894
Bank of America Corp.		776,457		27,983,510
Berkshire Hathaway, Inc., Class B^(b)		92,240		27,219,102
Chubb Ltd.		58,083		12,481,456
Citigroup, Inc.		224,263		10,284,701
JPMorgan Chase & Co.		231,268		29,112,016
MetLife, Inc.		173,994		12,738,101
Morgan Stanley		302,601		24,864,724
Prudential Financial, Inc.		115,034		12,100,426
Travelers Cos., Inc. (The)		67,893		12,523,543
Wells Fargo & Co.		602,106		27,690,855

				221,078,796

Health Care-20.18%
AbbVie, Inc.		192,223		28,141,447
Amgen, Inc.^(c)		46,736		12,635,078
Bristol-Myers Squibb Co.		367,257		28,451,400
Cigna Corp.		40,051		12,938,876
CVS Health Corp.		112,990		10,700,153
Johnson & Johnson		160,860		27,984,814
Pfizer, Inc.		556,541		25,906,983
Regeneron Pharmaceuticals, Inc.^(b)		19,021		14,241,974

				161,000,725

Industrials-7.50%
General Dynamics Corp.		48,826		12,196,735
Lockheed Martin Corp.^(c)		26,379		12,838,132



	Shares		Value
Industrials-(continued)
Northrop Grumman Corp.		23,666	$	12,992,870
United Parcel Service, Inc., Class B		130,208		21,844,996

				59,872,733

Information Technology-5.67%
Cisco Systems, Inc.		563,639		25,606,121
Global Payments, Inc.		88,759		10,141,603
HP, Inc.		342,106		9,448,967

				45,196,691

Materials-2.57%
Dow, Inc.		205,431		9,601,845
Nucor Corp.		83,123		10,920,700

				20,522,545

Utilities-6.21%
American Electric Power Co., Inc.		111,263		9,782,243
Consolidated Edison, Inc.		115,696		10,176,620
Sempra Energy		67,888		10,247,015
Southern Co. (The)		145,019		9,495,844
WEC Energy Group, Inc.		107,850		9,849,940

				49,551,662

Total Common Stocks & Other Equity Interests (Cost $773,565,688)				797,165,436


Money Market Funds-0.03%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e) (Cost $273,808)		273,808		273,808

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.95% (Cost $773,839,496)				797,439,244


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-3.23%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		7,215,675		7,215,675
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		18,549,995		18,549,995

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $25,764,733)				25,765,670

TOTAL INVESTMENTS IN SECURITIES-103.18% (Cost $799,604,229)				823,204,914
OTHER ASSETS LESS LIABILITIES-(3.18)%				(25,397,125	)

NET ASSETS-100.00%.			$	797,807,789

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



		5
		5

Invesco Dynamic Large Cap Value ETF (PWV)–(continued)

October 31, 2022

(Unaudited)

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

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

^(d)



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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	91,482		$	13,368,017		$	(13,185,691	)		$	-			$	-		$	273,808		$	4,801

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			3,785,178			43,163,893			(39,733,396	)			-				-			7,215,675			51,821	*

Invesco Private Prime Fund			8,832,210			107,001,907			(97,286,777	)			(443	)			3,098			18,549,995			139,454	*


Total		$	12,708,870		$	163,533,817		$	(150,205,864	)		$	(443	)		$	3,098		$	26,039,478		$	196,076

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

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

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

Portfolio Composition

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

as of October 31, 2022



Financials			27.71

Health Care			20.18

Consumer Staples			14.11

Energy			14.03

Industrials			7.50

Utilities			6.21

Information Technology			5.67

Sector Types Each Less Than 3%			4.51

Money Market Funds Plus Other Assets Less Liabilities			0.08

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



		6
		6

Invesco S&P 100 Equal Weight ETF (EQWL)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.00%
Communication Services-8.63%
Alphabet, Inc., Class A^(b)		6,657	$	629,153
Alphabet, Inc., Class C^(b)		5,951		563,322
AT&T, Inc.		82,458		1,503,209
Charter Communications, Inc., Class A^(b)		3,457		1,270,862
Comcast Corp., Class A		39,649		1,258,459
Meta Platforms, Inc., Class A^(b)		8,290		772,296
Netflix, Inc.^(b)		6,009		1,753,907
T-Mobile US, Inc.^(b)		9,639		1,460,887
Verizon Communications, Inc.		33,253		1,242,665
Walt Disney Co. (The)^(b)		12,198		1,299,575

				11,754,335

Consumer Discretionary-10.35%
Amazon.com, Inc.^(b)		10,543		1,080,025
Booking Holdings, Inc.^(b)		709		1,325,461
Ford Motor Co.		91,099		1,217,994
General Motors Co.		34,021		1,335,324
Home Depot, Inc. (The)		4,682		1,386,481
Lowe’s Cos., Inc.		6,831		1,331,704
McDonald’s Corp.		5,409		1,474,818
NIKE, Inc., Class B		12,658		1,173,143
Starbucks Corp.		15,831		1,370,806
Target Corp.		8,087		1,328,290
Tesla, Inc.^(b)		4,687		1,066,480

				14,090,526

Consumer Staples-11.26%
Altria Group, Inc.		30,811		1,425,625
Coca-Cola Co. (The)		22,541		1,349,079
Colgate-Palmolive Co.		17,993		1,328,603
Costco Wholesale Corp.		2,616		1,311,924
Kraft Heinz Co. (The)		38,509		1,481,441
Mondelez International, Inc., Class A		22,904		1,408,138
PepsiCo, Inc.		8,109		1,472,432
Philip Morris International, Inc.		14,471		1,329,161
Procter & Gamble Co. (The)		10,032		1,351,010
Walgreens Boots Alliance, Inc.		38,751		1,414,412
Walmart, Inc.		10,257		1,459,879

				15,331,704

Energy-3.51%
Chevron Corp.		8,773		1,587,035
ConocoPhillips		12,543		1,581,547
Exxon Mobil Corp.		14,554		1,612,729

				4,781,311

Financials-15.31%
American Express Co.		8,866		1,316,158
American International Group, Inc.		25,518		1,454,526
Bank of America Corp.		40,194		1,448,592
Bank of New York Mellon Corp. (The)		31,823		1,340,067
Berkshire Hathaway, Inc., Class B^(b)		4,911		1,449,187
BlackRock, Inc.		2,017		1,302,800
Capital One Financial Corp.		12,967		1,374,761
Charles Schwab Corp. (The)		18,842		1,501,142
Citigroup, Inc.		27,725		1,271,469
Goldman Sachs Group, Inc. (The)		4,126		1,421,448
JPMorgan Chase & Co.		11,788		1,483,873



	Shares		Value
Financials-(continued)
MetLife, Inc.		20,757	$	1,519,620
Morgan Stanley		15,704		1,290,398
U.S. Bancorp		29,520		1,253,124
Wells Fargo & Co.		30,972		1,424,402

				20,851,567

Health Care-14.84%
Abbott Laboratories		12,950		1,281,273
AbbVie, Inc.		9,933		1,454,191
Amgen, Inc.		5,664		1,531,263
Bristol-Myers Squibb Co.		20,010		1,550,175
CVS Health Corp.		13,749		1,302,030
Danaher Corp.		4,837		1,217,328
Eli Lilly and Co.		4,422		1,601,162
Gilead Sciences, Inc.		21,505		1,687,282
Johnson & Johnson.		8,477		1,474,744
Medtronic PLC		15,648		1,366,696
Merck & Co., Inc.		16,076		1,626,891
Pfizer, Inc.		29,354		1,366,429
Thermo Fisher Scientific, Inc.		2,465		1,266,936
UnitedHealth Group, Inc.		2,679		1,487,247

				20,213,647

Industrials-12.35%
3M Co.		11,412		1,435,515
Boeing Co. (The)^(b)		8,917		1,270,762
Caterpillar, Inc.		7,410		1,603,969
Emerson Electric Co.		16,575		1,435,395
FedEx Corp.		6,718		1,076,761
General Dynamics Corp.		6,066		1,515,287
General Electric Co.		18,966		1,475,744
Honeywell International, Inc.		7,318		1,493,018
Lockheed Martin Corp.^(c)		3,332		1,621,618
Raytheon Technologies Corp.		15,950		1,512,379
Union Pacific Corp.		6,049		1,192,500
United Parcel Service, Inc., Class B		7,069		1,185,966

				16,818,914

Information Technology-16.35%
Accenture PLC, Class A		4,833		1,372,089
Adobe, Inc.^(b)		3,557		1,132,905
Advanced Micro Devices, Inc.^(b)		16,411		985,645
Apple, Inc.		8,924		1,368,406
Broadcom, Inc.		2,689		1,264,153
Cisco Systems, Inc.		30,689		1,394,201
Intel Corp.		44,651		1,269,428
International Business Machines Corp.		10,873		1,503,627
Mastercard, Inc., Class A		4,179		1,371,464
Microsoft Corp.		5,305		1,231,450
NVIDIA Corp.		9,765		1,317,982
Oracle Corp.		18,502		1,444,451
PayPal Holdings, Inc.^(b)		14,599		1,220,184
QUALCOMM, Inc.		10,632		1,250,961
salesforce.com, inc.^(b)		8,641		1,404,940
Texas Instruments, Inc.		8,221		1,320,539
Visa, Inc., Class A^(c)		6,845		1,418,010

				22,270,435

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



		7
		7

Invesco S&P 100 Equal Weight ETF (EQWL)–(continued)

October 31, 2022

(Unaudited)



	Shares		Value
Materials-2.02%
Dow, Inc.		27,807	$	1,299,699
Linde PLC (United Kingdom)		4,890		1,454,042

				2,753,741

Real Estate-1.90%
American Tower Corp.		5,371		1,112,818
Simon Property Group, Inc.		13,533		1,474,826

				2,587,644

Utilities-3.48%
Duke Energy Corp.		12,786		1,191,399
Exelon Corp.		30,644		1,182,552
NextEra Energy, Inc.		15,624		1,210,860
Southern Co. (The)		17,664		1,156,639

				4,741,450

Total Common Stocks & Other Equity Interests (Cost $136,964,537)				136,195,274


Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e) (Cost $76,252)		76,252		76,252

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.06% (Cost $137,040,789)				136,271,526



	Shares		Value

Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-1.25%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		477,340	$	477,340
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		1,227,146		1,227,146

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,704,370)				1,704,486

TOTAL INVESTMENTS IN SECURITIES-101.31% (Cost $138,745,159)				137,976,012
OTHER ASSETS LESS LIABILITIES-(1.31)%				(1,782,038	)

NET ASSETS-100.00%.			$	136,193,974

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

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

^(d)



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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	11,989		$	1,693,255		$	(1,628,992	)		$	-			$	-			$	76,252		$	587

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			910,271			7,481,304			(7,914,235	)			-				-				477,340			6,537	*

Invesco Private Prime Fund			2,122,133			15,228,363			(16,123,089	)			(30	)			(231	)			1,227,146			16,753	*


Total		$	3,044,393		$	24,402,922		$	(25,666,316	)		$	(30	)		$	(231	)		$	1,780,738		$	23,877

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

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

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

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



		8
		8

Invesco S&P 100 Equal Weight ETF (EQWL)–(continued)

October 31, 2022

(Unaudited)

Portfolio Composition

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

as of October 31, 2022



Information Technology			16.35

Financials			15.31

Health Care			14.84

Industrials			12.35

Consumer Staples			11.26

Consumer Discretionary			10.35

Communication Services			8.63

Energy			3.51

Utilities			3.48

Sector Types Each Less Than 3%			3.92

Money Market Funds Plus Other Assets Less Liabilities			0.00

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



		9
		9

Invesco S&P 500 GARP ETF (SPGP)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-2.37%
Alphabet, Inc., Class C^(b)		228,109	$	21,592,798
Meta Platforms, Inc., Class A^(b)		139,247		12,972,251

				34,565,049

Consumer Discretionary-13.32%
Best Buy Co., Inc.		204,916		14,018,304
D.R. Horton, Inc.		344,422		26,479,163
eBay, Inc.		631,783		25,170,235
Garmin Ltd.		165,279		14,551,163
Lennar Corp., Class A		209,715		16,924,000
Pool Corp.		60,524		18,413,217
PulteGroup, Inc.		425,132		17,001,029
Target Corp.		127,750		20,982,937
Tractor Supply Co.		112,157		24,648,744
Ulta Beauty, Inc.^(b)		38,551		16,167,133

				194,355,925

Consumer Staples-2.60%
Campbell Soup Co.		361,345		19,118,764
Monster Beverage Corp.^(b)		201,091		18,846,249

				37,965,013

Energy-3.56%
Coterra Energy, Inc.^(c)		520,576		16,205,531
Diamondback Energy, Inc.^(c)		137,175		21,551,564
Pioneer Natural Resources Co.		55,686		14,278,447

				52,035,542

Financials-27.37%
Allstate Corp. (The)		122,403		15,453,379
Assurant, Inc.		104,938		14,256,877
Berkshire Hathaway, Inc., Class B^(b)		65,779		19,410,725
BlackRock, Inc.		24,837		16,042,467
Capital One Financial Corp.		163,724		17,358,018
Chubb Ltd.		75,911		16,312,515
Cincinnati Financial Corp.		240,669		24,865,921
Citigroup, Inc.		311,421		14,281,767
Discover Financial Services		213,683		22,321,326
Everest Re Group Ltd.		99,668		32,158,877
Franklin Resources, Inc.^(c)		749,854		17,584,076
Goldman Sachs Group, Inc. (The)		76,656		26,408,759
Intercontinental Exchange, Inc.		180,029		17,205,371
Loews Corp.		256,842		14,645,131
Moody’s Corp.		60,348		15,984,375
Raymond James Financial, Inc.		176,415		20,841,668
Regions Financial Corp.		774,653		17,003,633
Signature Bank		83,652		13,261,352
SVB Financial Group^(b)(c)		55,822		12,892,649
Synchrony Financial		581,294		20,670,815
T. Rowe Price Group, Inc.^(c)		151,503		16,083,558
Zions Bancorporation N.A		276,447		14,358,657

				399,401,916

Health Care-19.40%
Cigna Corp.		101,958		32,938,552
Cooper Cos., Inc. (The)		55,516		15,177,519
Elevance Health, Inc.		39,603		21,653,732
Humana, Inc.		43,853		24,473,482
IDEXX Laboratories, Inc.^(b)		49,543		17,819,626



	Shares		Value
Health Care-(continued)
Incyte Corp.^(b)		343,688	$	25,549,766
Laboratory Corp. of America Holdings		83,610		18,549,715
Pfizer, Inc.		519,639		24,189,195
Quest Diagnostics, Inc.		156,395		22,466,142
Regeneron Pharmaceuticals, Inc.^(b)		48,760		36,509,050
Vertex Pharmaceuticals, Inc.^(b)		93,668		29,224,416
Waters Corp.^(b)		48,724		14,576,759

				283,127,954

Industrials-8.76%
C.H. Robinson Worldwide, Inc.^(c)		159,752		15,610,965
Copart, Inc.^(b)		160,243		18,431,150
Expeditors International of Washington, Inc.^(c)		273,981		26,809,041
Fortune Brands Home & Security, Inc.		265,172		15,995,175
J.B. Hunt Transport Services, Inc.		102,825		17,590,273
Old Dominion Freight Line, Inc.^(c)		63,885		17,542,821
United Parcel Service, Inc., Class B		94,268		15,815,342

				127,794,767

Information Technology-14.05%
Adobe, Inc.^(b)		54,096		17,229,576
Apple, Inc.		139,337		21,365,935
Applied Materials, Inc.		174,148		15,375,527
Arista Networks, Inc.^(b)		162,102		19,591,648
Cisco Systems, Inc.		426,978		19,397,610
KLA Corp.		65,157		20,618,933
Lam Research Corp.		36,058		14,595,557
Microsoft Corp.		81,855		19,001,001
Qorvo, Inc.^(b)		264,711		22,786,323
Skyworks Solutions, Inc.		163,498		14,062,463
Teradyne, Inc.^(c)		258,042		20,991,717

				205,016,290

Materials-5.17%
Celanese Corp.		110,097		10,582,524
CF Industries Holdings, Inc.		249,833		26,547,254
Mosaic Co. (The)		307,929		16,551,184
Nucor Corp.		165,740		21,774,921

				75,455,883

Real Estate-1.03%
Weyerhaeuser Co.		485,909		15,029,165


Utilities-2.31%
NRG Energy, Inc.		758,265		33,666,966

Total Common Stocks & Other Equity Interests (Cost $1,511,643,134)				1,458,414,470


Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e)(Cost $821,590)		821,590		821,590

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.00% (Cost $1,512,464,724)				1,459,236,060

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



		10
		10

Invesco S&P 500 GARP ETF (SPGP)–(continued)

October 31, 2022

(Unaudited)



	Shares		Value

Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-3.69%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		15,096,306	$	15,096,306
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		38,807,883		38,807,883

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $53,902,985)				53,904,189

TOTAL INVESTMENTS IN SECURITIES-103.69% (Cost $1,566,367,709)				1,513,140,249
OTHER ASSETS LESS LIABILITIES-(3.69)%				(53,847,813	)

NET ASSETS-100.00%			$	1,459,292,436

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

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

^(d)



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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	-		$	9,259,166		$	(8,437,576	)		$	-		$	-		$	821,590		$	4,792

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			8,620,026			181,513,281			(175,037,001	)			-			-			15,096,306			156,106	*

Invesco Private Prime Fund			20,110,514			365,620,782			(346,931,555	)			462			7,680			38,807,883			437,421	*


Total		$	28,730,540		$	556,393,229		$	(530,406,132	)		$	462		$	7,680		$	54,725,779		$	598,319

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

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

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

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



		11
		11

Invesco S&P 500 GARP ETF (SPGP)–(continued)

October 31, 2022

(Unaudited)


Portfolio Composition Sector Breakdown (% of the Fund’s Net Assets) as of October 31, 2022

Financials			27.37

Health Care			19.40

Information Technology			14.05

Consumer Discretionary			13.32

Industrials			8.76

Materials			5.17

Energy			3.56

Sector Types Each Less Than 3%			8.31

Money Market Funds Plus Other Assets Less Liabilities			0.06

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



		12
		12

Invesco S&P 500 Value with Momentum ETF (SPVM)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.97%
Communication Services-0.81%
Interpublic Group of Cos., Inc. (The)		13,136	$	391,321


Consumer Discretionary-7.84%
Advance Auto Parts, Inc.		1,948		369,964
Bath & Body Works, Inc.		10,034		334,935
eBay, Inc.		11,672		465,013
Ford Motor Co.		87,306		1,167,281
Genuine Parts Co.		2,449		435,579
LKQ Corp.		8,928		496,754
Target Corp.		3,231		530,692

				3,800,218

Consumer Staples-7.11%
Archer-Daniels-Midland Co.		7,165		694,862
JM Smucker Co. (The)		3,188		480,304
Kraft Heinz Co. (The)		13,985		538,003
Kroger Co. (The)		12,023		568,568
Tyson Foods, Inc., Class A		9,334		637,979
Walmart, Inc.		3,725		530,179

				3,449,895

Energy-11.80%
APA Corp.		8,147		370,363
Chevron Corp.		2,060		372,654
ConocoPhillips		3,049		384,448
Coterra Energy, Inc.		10,082		313,853
Diamondback Energy, Inc.		2,756		432,995
Exxon Mobil Corp.		4,026		446,121
Kinder Morgan, Inc.		17,137		310,522
Marathon Oil Corp.		13,162		400,783
Marathon Petroleum Corp.		8,877		1,008,605
Occidental Petroleum Corp.		5,418		393,347
Phillips 66		6,687		697,387
Valero Energy Corp.		4,709		591,215

				5,722,293

Financials-33.27%
Aflac, Inc.		10,327		672,391
Allstate Corp. (The)		4,962		626,452
American International Group, Inc.		17,502		997,614
Ameriprise Financial, Inc.		1,240		383,309
Assurant, Inc.		3,762		511,105
Berkshire Hathaway, Inc., Class B^(b)		1,985		585,754
Chubb Ltd.		2,424		520,893
Cincinnati Financial Corp.		4,063		419,789
Comerica, Inc.		5,729		403,895
Discover Financial Services.		4,999		522,196
Everest Re Group Ltd.		2,862		923,453
Fifth Third Bancorp		12,627		450,658
Hartford Financial Services Group, Inc. (The)		8,918		645,752
Lincoln National Corp.		18,155		978,010
Loews Corp.		12,239		697,868
M&T Bank Corp.		2,551		429,512
MetLife, Inc.		13,092		958,465
Morgan Stanley		6,039		496,225
Principal Financial Group, Inc.		7,682		677,015
Prudential Financial, Inc.		9,360		984,578
Raymond James Financial, Inc.		4,128		487,682
Regions Financial Corp.		26,678		585,582



	Shares		Value
Financials-(continued)
Travelers Cos., Inc. (The)		3,214	$	592,854
W.R. Berkley Corp.		5,203		386,999
Wells Fargo & Co.		14,938		686,999
Zions Bancorporation N.A		9,845		511,349

				16,136,399

Health Care-11.91%
AmerisourceBergen Corp.		3,810		599,008
Centene Corp.^(b)		8,681		739,014
CVS Health Corp.		8,557		810,348
Elevance Health, Inc.		847		463,114
HCA Healthcare, Inc.		1,824		396,665
Henry Schein, Inc.^(b)		4,981		340,999
Hologic, Inc.^(b)		4,061		275,336
McKesson Corp.		1,434		558,357
Molina Healthcare, Inc.^(b)		1,591		570,946
Organon & Co.		10,704		280,231
Pfizer, Inc.		6,108		284,327
Regeneron Pharmaceuticals, Inc.^(b)		613		458,984

				5,777,329

Industrials-6.67%
C.H. Robinson Worldwide, Inc.		5,090		497,395
General Dynamics Corp.		1,356		338,729
Leidos Holdings, Inc.		3,550		360,644
Northrop Grumman Corp.		657		360,699
Quanta Services, Inc.		2,315		328,823
Raytheon Technologies Corp.		3,124		296,218
Robert Half International, Inc.		3,405		260,346
Textron, Inc.		6,559		448,898
Wabtec Corp.		3,689		344,110

				3,235,862

Information Technology-2.96%
Hewlett Packard Enterprise Co.		70,707		1,008,989
HP, Inc.		15,426		426,066

				1,435,055

Materials-7.81%
Celanese Corp.		2,950		283,554
CF Industries Holdings, Inc.		3,337		354,590
Corteva, Inc.		5,331		348,328
Dow, Inc.		10,064		470,391
Freeport-McMoRan, Inc.		8,550		270,949
LyondellBasell Industries N.V., Class A		6,754		516,343
Mosaic Co. (The)		9,748		523,955
Nucor Corp.		5,954		782,237
Packaging Corp. of America		1,973		237,174

				3,787,521

Real Estate-2.32%
CBRE Group, Inc., Class A^(b)		5,880		417,127
Kimco Realty Corp.		18,599		397,646
Weyerhaeuser Co.		10,090		312,084

				1,126,857

Utilities-7.47%
American Electric Power Co., Inc.		3,174		279,058
Atmos Energy Corp.		2,861		304,840
CenterPoint Energy, Inc.		13,200		377,652

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



		13
		13

Invesco S&P 500 Value with Momentum ETF (SPVM)–(continued)

October 31, 2022

(Unaudited)



	Shares		Value
Utilities-(continued)
CMS Energy Corp.		4,464	$	254,671
Consolidated Edison, Inc.		3,742		329,146
Duke Energy Corp.		2,945		274,415
Edison International		4,650		279,186
Entergy Corp.		2,874		307,920
Evergy, Inc.		5,254		321,177
Exelon Corp.		8,879		342,641
FirstEnergy Corp.		7,525		283,768
NiSource, Inc.		10,525		270,387

				3,624,861

Total Common Stocks & Other Equity Interests (Cost $45,890,273)				48,487,611



	Shares		Value
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(c)(d)(Cost $43,770)		43,770	$	43,770

TOTAL INVESTMENTS IN SECURITIES-100.06% (Cost $45,934,043)				48,531,381
OTHER ASSETS LESS LIABILITIES-(0.06)%				(28,884	)

NET ASSETS-100.00%			$	48,502,497

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

^(c)



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

Invesco Ltd.		$	618,818		$	32,269		$	(569,591	)		$	197,725		$	(279,221	)		$	-		$	6,313

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class			79,573			895,031			(930,834	)			-			-				43,770			602


Total		$	698,391		$	927,300		$	(1,500,425	)		$	197,725		$	(279,221	)		$	43,770		$	6,915

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


Portfolio Composition Sector Breakdown (% of the Fund’s Net Assets) as of October 31, 2022

Financials			33.27

Health Care			11.91

Energy			11.80

Consumer Discretionary			7.84

Materials			7.81

Utilities			7.47

Consumer Staples			7.11

Industrials			6.67

Sector Types Each Less Than 3%			6.09

Money Market Funds Plus Other Assets Less Liabilities			0.03

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



		14
		14

Invesco S&P MidCap Momentum ETF (XMMO)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.96%
Communication Services-0.97%
World Wrestling Entertainment, Inc., Class A^(b)		123,855	$	9,770,921


Consumer Discretionary-6.47%
H&R Block, Inc.^(b)		550,663		22,659,782
Murphy USA, Inc.		74,123		23,312,425
Service Corp. International		322,030		19,518,238

				65,490,445

Consumer Staples-5.63%
BJ’s Wholesale Club Holdings, Inc.^(c)		264,567		20,477,486
Coca-Cola Consolidated, Inc.^(b)		8,029		3,910,203
Flowers Foods, Inc.		467,572		13,423,992
Grocery Outlet Holding Corp.^(b)(c)		168,619		5,829,159
Pilgrim’s Pride Corp.^(c)		110,714		2,551,958
Post Holdings, Inc.^(c)		119,969		10,847,597

				57,040,395

Energy-16.00%
CNX Resources Corp.^(b)(c)		425,367		7,150,419
DT Midstream, Inc.^(b)		256,518		15,314,124
HF Sinclair Corp.		411,613		25,178,367
Matador Resources Co.		331,989		22,060,669
Murphy Oil Corp.		360,649		17,495,083
NOV, Inc.^(b)		756,740		16,950,976
PDC Energy, Inc.^(b)		252,534		18,217,803
Range Resources Corp.		854,910		24,347,837
Southwestern Energy Co.^(c)		2,207,820		15,300,193

				162,015,471

Financials-13.62%
American Financial Group, Inc.		150,073		21,777,093
Cathay General Bancorp		118,770		5,415,912
Cullen/Frost Bankers, Inc.^(b)		133,247		20,659,947
Fulton Financial Corp.		272,778		4,972,743
Hancock Whitney Corp.		132,533		7,404,619
Home BancShares, Inc.^(b)		304,583		7,763,821
International Bancshares Corp.^(b)		88,933		4,411,077
Kinsale Capital Group, Inc.^(b)		48,719		15,354,767
Prosperity Bancshares, Inc.		148,795		10,649,258
United Bankshares, Inc.^(b)		237,779		10,069,941
Unum Group.		333,967		15,225,555
Washington Federal, Inc.		94,293		3,649,139
Wintrust Financial Corp.		113,088		10,587,299

				137,941,171

Health Care-6.99%
Acadia Healthcare Co., Inc.^(c)		199,405		16,211,627
Exelixis, Inc.^(c)		576,630		9,560,526
Halozyme Therapeutics, Inc.^(b)(c)		222,709		10,647,717
Option Care Health, Inc.^(c)		451,213		13,653,705
United Therapeutics Corp.^(c)		89,834		20,709,432

				70,783,007

Industrials-22.60%
AECOM		229,058		17,243,486
Avis Budget Group, Inc.^(b)(c)		62,360		14,745,646
Builders FirstSource, Inc.^(b)(c)		392,763		24,217,767
CACI International, Inc., Class A^(c)		38,958		11,844,401



	Shares		Value
Industrials-(continued)
Carlisle Cos., Inc.		167,963	$	40,109,564
Chart Industries, Inc.^(b)(c)		58,447		13,026,667
Curtiss-Wright Corp.		78,710		13,209,899
Dycom Industries, Inc.^(c)		67,821		8,015,086
Fluor Corp.^(b)(c)		344,664		10,429,533
FTI Consulting, Inc.^(b)(c)		57,450		8,940,943
Insperity, Inc.^(b)		54,188		6,395,268
KBR, Inc.		371,509		18,490,003
Knight-Swift Transportation Holdings, Inc.		234,587		11,267,214
nVent Electric PLC		265,246		9,681,479
Science Applications International Corp.		90,853		9,843,014
Valmont Industries, Inc.		35,465		11,321,137

				228,781,107

Information Technology-2.90%
Aspen Technology, Inc.^(b)(c)		66,856		16,142,381
Avnet, Inc.		170,270		6,843,151
Belden, Inc.^(b)		92,214		6,420,861

				29,406,393

Materials-10.56%
Alcoa Corp.		277,832		10,843,783
Ashland, Inc.		96,875		10,164,125
Cabot Corp.		132,628		9,745,505
Commercial Metals Co.		208,846		9,502,493
Greif, Inc., Class A^(b)		47,126		3,120,213
Louisiana-Pacific Corp.^(b)		106,817		6,051,183
Reliance Steel & Aluminum Co.		117,621		23,698,279
Silgan Holdings, Inc.		137,266		6,500,918
Steel Dynamics, Inc.		290,120		27,285,786

				106,912,285

Real Estate-4.72%
Healthcare Realty Trust, Inc.^(b)		689,552		14,018,592
Independence Realty Trust, Inc.^(b)		399,570		6,696,793
Life Storage, Inc.		126,206		13,959,646
Rexford Industrial Realty, Inc.		236,827		13,091,796

				47,766,827

Utilities-9.50%
Black Hills Corp.		131,437		8,592,037
IDACORP, Inc.		79,151		8,287,110
National Fuel Gas Co.		311,970		21,054,855
New Jersey Resources Corp.^(b)		229,935		10,264,298
OGE Energy Corp.		582,471		21,335,913
ONE Gas, Inc.		109,406		8,476,777
Ormat Technologies, Inc.^(b)		82,518		7,463,753
Southwest Gas Holdings, Inc.		145,986		10,667,197

				96,141,940

Total Common Stocks & Other Equity Interests (Cost $955,327,672)				1,012,049,962

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



		15
		15

Invesco S&P MidCap Momentum ETF (XMMO)–(continued)

October 31, 2022

(Unaudited)



	Shares		Value
Money Market Funds-0.04%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e)(Cost $406,122)		406,122	$	406,122

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.00% (Cost $955,733,794)				1,012,456,084


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-14.85%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		44,044,500		44,044,500



	Shares		Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		106,262,419	$	106,262,419

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $150,308,001)				150,306,919

TOTAL INVESTMENTS IN SECURITIES-114.85% (Cost $1,106,041,795)				1,162,763,003
OTHER ASSETS LESS LIABILITIES-(14.85)%				(150,349,938	)

NET ASSETS-100.00%			$	1,012,413,065

Notes to Schedule of Investments:

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

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

^(c)	Non-income producing security.

^(d)



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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	531,940		$	20,388,321		$	(20,514,139	)		$	-			$	-			$	406,122		$	6,406

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			19,658,589			174,903,038			(150,517,127	)			-				-				44,044,500			316,311	*

Invesco Private Prime Fund			45,795,787			398,818,143			(338,347,393	)			(3,121	)			(997	)			106,262,419			861,407	*


Total		$	65,986,316		$	594,109,502		$	(509,378,659	)		$	(3,121	)		$	(997	)		$	150,713,041		$	1,184,124

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

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

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

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



		16
		16

Invesco S&P MidCap Momentum ETF (XMMO)–(continued)

October 31, 2022

(Unaudited)

Portfolio Composition

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

as of October 31, 2022



Industrials			22.60

Energy			16.00

Financials			13.62

Materials			10.56

Utilities			9.50

Health Care			6.99

Consumer Discretionary			6.47

Consumer Staples			5.63

Real Estate			4.72

Sector Types Each Less Than 3%			3.87

Money Market Funds Plus Other Assets Less Liabilities			0.04

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



		17
		17

Invesco S&P MidCap Quality ETF (XMHQ)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.98%
Communication Services-0.78%
Ziff Davis, Inc.^(b)(c)		32,176	$	2,490,101


Consumer Discretionary-17.39%
AutoNation, Inc.^(b)(c)		29,117		3,095,428
Capri Holdings Ltd.^(b)(c)		85,510		3,906,097
Carter’s, Inc.^(c)		25,217		1,711,478
Choice Hotels International, Inc.^(c)		26,027		3,379,346
Deckers Outdoor Corp.^(b)		23,247		8,134,823
Dick’s Sporting Goods, Inc.		40,681		4,627,870
Gentex Corp.		136,816		3,624,256
Grand Canyon Education, Inc.^(b)		38,468		3,871,035
Macy’s, Inc.		183,218		3,820,095
Mattel, Inc.^(b)(c)		234,468		4,445,513
Texas Roadhouse, Inc.		39,402		3,898,828
Toll Brothers, Inc.		67,473		2,906,737
Williams-Sonoma, Inc.		63,429		7,854,413

				55,275,919

Energy-2.73%
Matador Resources Co.		63,873		4,244,361
PDC Energy, Inc.		61,519		4,437,980

				8,682,341

Financials-29.39%
American Financial Group, Inc.		64,998		9,431,860
Associated Banc-Corp		86,994		2,118,304
Cathay General Bancorp		65,106		2,968,834
Commerce Bancshares, Inc.		90,458		6,408,045
East West Bancorp, Inc.		81,667		5,844,907
Evercore, Inc., Class A^(c)		26,936		2,830,974
F.N.B. Corp.^(c)		281,575		4,068,759
Federated Hermes, Inc., Class B		59,902		2,081,595
Fulton Financial Corp.		121,275		2,210,843
Hanover Insurance Group, Inc. (The)		22,150		3,244,754
Home BancShares, Inc.^(c)		128,428		3,273,630
International Bancshares Corp.		44,615		2,212,904
Janus Henderson Group PLC^(c)		102,068		2,324,088
PacWest Bancorp		74,841		1,860,547
Pinnacle Financial Partners, Inc.		49,202		4,083,274
Prosperity Bancshares, Inc.		61,809		4,423,670
RLI Corp.		24,527		3,190,227
SEI Investments Co.		69,838		3,792,203
Texas Capital Bancshares, Inc.^(b)		40,577		2,434,620
Umpqua Holdings Corp.		189,630		3,769,844
United Bankshares, Inc.^(c)		116,707		4,942,541
Valley National Bancorp		313,377		3,719,785
Voya Financial, Inc.^(c)		65,917		4,506,086
Washington Federal, Inc.		51,072		1,976,486
Webster Financial Corp.		105,311		5,714,175

				93,432,955

Health Care-8.19%
Acadia Healthcare Co., Inc.^(b)		56,988		4,633,125
Azenta, Inc.^(c)		64,483		2,863,045
Chemed Corp.		11,280		5,266,294
Envista Holdings Corp.^(b)(c)		95,608		3,156,020
Exelixis, Inc.^(b)		180,492		2,992,557



	Shares		Value
Health Care-(continued)
Medpace Holdings, Inc.^(b)(c)		19,951	$	4,428,723
QuidelOrtho Corp.^(b)		30,016		2,696,037

				26,035,801

Industrials-18.72%
ASGN, Inc.^(b)		31,424		2,664,127
Axon Enterprise, Inc.^(b)