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Invesco Semi-Annual Report to Shareholders

 

October 31, 2021

 

RPG  Invesco S&P 500® Pure Growth ETF

 

RPV  Invesco S&P 500® Pure Value ETF

 

XLG  Invesco S&P 500® Top 50 ETF

 

RFG  Invesco S&P Midcap 400® Pure Growth ETF

 

RFV  Invesco S&P Midcap 400® Pure Value ETF

 

RZG  Invesco S&P SmallCap 600® Pure Growth ETF

 

RZV  Invesco S&P SmallCap 600® Pure Value ETF


 

Table of Contents

 

Schedules of Investments   

Invesco S&P 500® Pure Growth ETF (RPG)

     3  

Invesco S&P 500® Pure Value ETF (RPV)

     6  

Invesco S&P 500® Top 50 ETF (XLG)

     9  

Invesco S&P Midcap 400® Pure Growth ETF (RFG)

     11  

Invesco S&P Midcap 400® Pure Value ETF (RFV)

     14  

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)

     17  

Invesco S&P SmallCap 600® Pure Value ETF (RZV)

     20  
Statements of Assets and Liabilities      24  
Statements of Operations      26  
Statements of Changes in Net Assets      28  
Financial Highlights      32  
Notes to Financial Statements      39  
Fund Expenses      49  

 

    2    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-100.02%

 

Communication Services-7.12%

     

Alphabet, Inc., Class A(b)

     9,769      $ 28,925,227  

Alphabet, Inc., Class C(b)

     9,409        27,901,543  

Charter Communications, Inc., Class A(b)(c)

     42,538        28,708,471  

Meta Platforms, Inc., Class A(b)

     133,336        43,143,529  

Netflix, Inc.(b)

     87,760        60,581,606  

Take-Two Interactive Software, Inc.(b)

     193,683        35,056,623  

Twitter, Inc.(b)

     456,327        24,431,748  
     

 

 

 
           248,748,747  
     

 

 

 

Consumer Discretionary-14.83%

     

Amazon.com, Inc.(b)

     16,151        54,468,117  

Chipotle Mexican Grill, Inc.(b)

     22,060        39,245,402  

Dollar General Corp.

     149,172        33,044,581  

Domino’s Pizza, Inc.

     93,578        45,756,835  

eBay, Inc.

     612,195        46,967,600  

Etsy, Inc.(b)(c)

     354,304        88,820,470  

Pool Corp.

     101,923        52,506,653  

Tesla, Inc.(b)

     92,142        102,646,188  

Tractor Supply Co.

     252,382        54,809,799  
     

 

 

 
        518,265,645  
     

 

 

 

Consumer Staples-0.73%

     

Monster Beverage Corp.(b)

     301,984        25,668,640  
     

 

 

 

Financials-6.38%

     

Brown & Brown, Inc.

     466,021        29,410,585  

MarketAxess Holdings, Inc.

     57,353        23,438,450  

MSCI, Inc.

     80,391        53,450,368  

S&P Global, Inc.(c)

     58,847        27,902,894  

SVB Financial Group(b)

     123,824        88,831,338  
     

 

 

 
        223,033,635  
     

 

 

 

Health Care-20.86%

     

ABIOMED, Inc.(b)

     115,505        38,352,280  

Align Technology, Inc.(b)

     102,606        64,064,108  

Bio-Rad Laboratories, Inc., Class A(b)

     66,729        53,028,202  

Bio-Techne Corp.

     61,107        31,998,680  

Catalent, Inc.(b)(c)

     356,304        49,120,069  

Charles River Laboratories International,
Inc.(b)

     123,448        55,388,649  

DaVita, Inc.(b)

     379,638        39,193,827  

DexCom, Inc.(b)

     113,517        70,744,930  

IDEXX Laboratories, Inc.(b)

     88,326        58,837,482  

Mettler-Toledo International, Inc.(b)

     20,590        30,491,319  

PerkinElmer, Inc.

     198,514        35,115,141  

Regeneron Pharmaceuticals, Inc.(b)

     75,456        48,287,313  

ResMed, Inc.

     117,501        30,892,188  

Thermo Fisher Scientific, Inc.

     62,997        39,881,511  

Vertex Pharmaceuticals, Inc.(b)

     124,288        22,984,580  

West Pharmaceutical Services, Inc.

     140,848        60,547,738  
     

 

 

 
        728,928,017  
     

 

 

 

Industrials-7.50%

     

Copart, Inc.(b)

     207,890        32,283,238  

Generac Holdings, Inc.(b)

     156,570        78,059,539  

Old Dominion Freight Line, Inc.

     133,513        45,574,662  

Rollins, Inc.

     732,175        25,794,525  
     Shares      Value  

Industrials-(continued)

 

United Rentals, Inc.(b)

     153,425      $ 58,164,952  

Verisk Analytics, Inc.

     105,647        22,214,395  
     

 

 

 
        262,091,311  
     

 

 

 

Information Technology-40.22%

     

Adobe, Inc.(b)

     88,365        57,469,061  

Advanced Micro Devices, Inc.(b)

     481,109        57,843,735  

ANSYS, Inc.(b)

     71,060        26,972,955  

Apple, Inc.

     326,215        48,867,007  

Applied Materials, Inc.

     277,949        37,981,731  

Arista Networks, Inc.(b)

     87,722        35,938,826  

Autodesk, Inc.(b)

     155,601        49,420,434  

Cadence Design Systems, Inc.(b)

     275,252        47,648,874  

Enphase Energy, Inc.(b)(c)

     310,480        71,916,482  

Fortinet, Inc.(b)

     243,915        82,038,371  

Intuit, Inc.

     70,162        43,920,710  

KLA Corp.

     148,684        55,423,448  

Lam Research Corp.

     71,828        40,480,106  

Microsoft Corp.

     142,940        47,401,763  

Monolithic Power Systems, Inc.(c)

     167,764        88,153,271  

NVIDIA Corp.

     386,986        98,940,711  

Paycom Software, Inc.(b)

     96,589        52,916,284  

PayPal Holdings, Inc.(b)

     261,727        60,875,083  

PTC, Inc.(b)

     170,433        21,704,642  

Qorvo, Inc.(b)

     166,085        27,940,479  

QUALCOMM, Inc.

     240,340        31,974,833  

salesforce.com, inc.(b)

     170,714        51,161,279  

ServiceNow, Inc.(b)

     103,222        72,024,183  

Synopsys, Inc.(b)

     131,741        43,893,466  

Teradyne, Inc.(c)

     449,270        62,107,085  

Trimble, Inc.(b)

     393,518        34,381,668  

Tyler Technologies, Inc.(b)

     49,290        26,775,314  

Xilinx, Inc.

     163,490        29,428,200  
     

 

 

 
        1,405,600,001  
     

 

 

 

Materials-2.38%

     

Albemarle Corp.

     235,147        58,897,269  

FMC Corp.(c)

     267,681        24,361,648  
     

 

 

 
        83,258,917  
     

 

 

 

Total Common Stocks & Other Equity Interests (Cost $2,354,575,636)

 

     3,495,594,913  
     

 

 

 

Money Market Funds-0.00%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $163,984)

     163,984        163,984  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.02%
(Cost $2,354,739,620)

        3,495,758,897  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-1.79%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     18,720,306        18,720,306  

 

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

 

    3    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)–(continued)

October 31, 2021

(Unaudited)

    

 

     Shares      Value  

Money Market Funds-(continued)

 

  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     43,663,248      $ 43,680,713  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $62,401,019)

 

     62,401,019  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-101.81% (Cost $2,417,140,639)

 

     3,558,159,916  

OTHER ASSETS LESS LIABILITIES-(1.81)%

 

     (63,373,855
     

 

 

 

NET ASSETS-100.00%

      $ 3,494,786,061  
     

 

 

 

 

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, 2021.

(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, 2021.

 

     Value
April 30, 2021
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
(Depreciation)
  Realized
Gain
   Value
October 31, 2021
   Dividend
Income
Investments in Affiliated Money Market Funds:                                 
Invesco Government & Agency Portfolio, Institutional Class      $ 837,629      $ 2,890,342      $ (3,563,987 )     $ -     $ -      $ 163,984      $ 36
Investments Purchased with Cash Collateral from Securities on Loan:                                 
Invesco Private Government Fund        4,879,734        265,589,890        (251,749,318 )       -       -        18,720,306        1,319 *
Invesco Private Prime Fund        7,319,602        453,652,961        (417,291,849 )       (1 )       -        43,680,713        18,030 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 
Total      $ 13,036,965      $ 722,133,193      $ (672,605,154 )     $ (1 )     $ -      $ 62,565,003      $ 19,385
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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, 2021.

(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.

 

    4    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)–(continued)

October 31, 2021

(Unaudited)

    

 

 Portfolio Composition

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

 as of October 31, 2021

 

Information Technology

    40.22    

Health Care

    20.86    

Consumer Discretionary

    14.83    

Industrials

    7.50    

Communication Services

    7.12                         

Financials

    6.38    

Sector Types Each Less Than 3%

    3.11    

Money Market Funds Plus Other Assets Less Liabilities

    (0.02  

 

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

 

    5    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.88%

 

Communication Services-5.42%

     

AT&T, Inc.

     618,232      $ 15,616,540  

Discovery, Inc., Class A(b)(c)

     179,648        4,210,949  

Discovery, Inc., Class C(b)

     346,671        7,820,898  

DISH Network Corp., Class A(b)(c)

     421,915        17,328,049  

Fox Corp., Class A(c)

     327,839        13,028,322  

Fox Corp., Class B

     151,162        5,586,948  

Interpublic Group of Cos., Inc. (The)(c)

     347,865        12,721,423  

Lumen Technologies, Inc.(c)

     4,160,338        49,341,609  

News Corp., Class A

     349,865        8,011,908  

News Corp., Class B

     108,785        2,454,190  

ViacomCBS, Inc., Class B

     545,575        19,760,726  
     

 

 

 
           155,881,562  
     

 

 

 

Consumer Discretionary-9.75%

     

Advance Auto Parts, Inc.

     56,551        12,753,381  

BorgWarner, Inc.

     342,922        15,455,494  

CarMax, Inc.(b)(c)

     105,014        14,378,517  

Ford Motor Co.(b)

     4,148,071        70,849,053  

Gap, Inc. (The)

     352,804        8,005,123  

General Motors Co.(b)

     639,291        34,796,609  

Hanesbrands, Inc.

     841,989        14,347,493  

Lennar Corp., Class A

     270,272        27,008,281  

LKQ Corp.(b)

     378,960        20,873,117  

Mohawk Industries, Inc.(b)

     175,924        31,175,492  

PVH Corp.(b)

     121,346        13,266,758  

Whirlpool Corp.(c)

     83,661        17,638,249  
     

 

 

 
        280,547,567  
     

 

 

 

Consumer Staples-7.89%

     

Archer-Daniels-Midland Co.

     675,115        43,369,388  

JM Smucker Co. (The)

     99,741        12,254,179  

Kraft Heinz Co. (The)

     653,819        23,465,564  

Kroger Co. (The)

     1,005,557        40,242,391  

Molson Coors Beverage Co., Class B(c)

     661,871        29,181,892  

Tyson Foods, Inc., Class A

     414,235        33,126,373  

Walgreens Boots Alliance, Inc.

     792,002        37,239,934  

Walmart, Inc.

     54,906        8,204,055  
     

 

 

 
        227,083,776  
     

 

 

 

Energy-8.19%

     

Chevron Corp.

     100,672        11,525,937  

EOG Resources, Inc.

     144,755        13,384,047  

Exxon Mobil Corp.

     659,777        42,535,823  

Kinder Morgan, Inc.

     926,698        15,522,192  

Marathon Oil Corp.

     1,752,510        28,600,963  

Marathon Petroleum Corp.

     409,231        26,980,600  

Phillips 66

     433,991        32,453,847  

Pioneer Natural Resources Co.

     75,531        14,122,787  

Valero Energy Corp.

     653,409        50,528,118  
     

 

 

 
        235,654,314  
     

 

 

 

Financials-44.27%

     

Aflac, Inc.

     534,834        28,704,541  

Allstate Corp. (The)

     255,266        31,568,746  

American International Group, Inc.

     629,261        37,183,032  

Assurant, Inc.

     177,759        28,674,304  

Bank of America Corp.

     604,029        28,860,506  

Bank of New York Mellon Corp. (The)

     591,646        35,025,443  
     Shares      Value  

Financials-(continued)

     

Berkshire Hathaway, Inc., Class B(b)

     231,918      $ 66,562,785  

Capital One Financial Corp.

     239,550        36,179,236  

Chubb Ltd.

     92,401        18,053,307  

Cincinnati Financial Corp.

     185,356        22,509,633  

Citigroup, Inc.

     460,077        31,818,925  

Citizens Financial Group, Inc.

     684,212        32,417,965  

Comerica, Inc.

     386,624        32,897,836  

Everest Re Group Ltd.

     115,993        30,332,170  

Fifth Third Bancorp

     798,934        34,777,597  

Franklin Resources, Inc.

     758,433        23,883,055  

Globe Life, Inc.

     162,924        14,503,494  

Goldman Sachs Group, Inc. (The)

     79,463        32,846,031  

Hartford Financial Services Group, Inc. (The)

     694,503        50,650,104  

Huntington Bancshares, Inc.

     1,037,501        16,330,266  

Invesco Ltd.(d)

     1,710,922        43,474,528  

JPMorgan Chase & Co.

     68,701        11,671,613  

KeyCorp

     1,197,831        27,873,527  

Lincoln National Corp.(c)

     856,321        61,783,560  

Loews Corp.

     569,014        31,904,615  

M&T Bank Corp.

     142,837        21,014,179  

MetLife, Inc.

     849,049        53,320,277  

Morgan Stanley

     243,911        25,069,173  

People’s United Financial, Inc.

     1,913,356        32,794,922  

PNC Financial Services Group, Inc. (The)

     82,201        17,346,877  

Principal Financial Group, Inc.

     629,789        42,252,544  

Prudential Financial, Inc.

     515,118        56,688,736  

Raymond James Financial, Inc.

     168,303        16,592,993  

Regions Financial Corp.

     1,196,146        28,324,737  

State Street Corp.

     251,583        24,793,505  

Synchrony Financial

     267,947        12,446,138  

Travelers Cos., Inc. (The)

     160,351        25,797,269  

Truist Financial Corp.

     347,702        22,068,646  

U.S. Bancorp

     217,453        13,127,638  

Wells Fargo & Co.

     806,766        41,274,149  

Zions Bancorporation N.A

     480,717        30,280,364  
     

 

 

 
        1,273,678,966  
     

 

 

 

Health Care-8.98%

     

AmerisourceBergen Corp.

     91,411        11,153,970  

Anthem, Inc.

     56,902        24,759,767  

Cardinal Health, Inc.

     401,696        19,205,086  

Centene Corp.(b)

     598,555        42,641,058  

Cigna Corp.

     138,945        29,680,041  

CVS Health Corp.

     552,624        49,338,271  

Henry Schein, Inc.(b)

     142,432        10,874,683  

McKesson Corp.

     145,679        30,283,751  

Universal Health Services, Inc., Class B

     114,081        14,157,452  

Viatris, Inc.

     1,975,510        26,373,059  
     

 

 

 
        258,467,138  
     

 

 

 

Industrials-3.59%

     

General Dynamics Corp.

     56,600        11,475,650  

General Electric Co.

     90,072        9,445,851  

Howmet Aerospace, Inc.

     481,955        14,309,244  

Huntington Ingalls Industries, Inc.

     82,309        16,686,503  

Raytheon Technologies Corp.

     168,619        14,983,484  

 

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

 

    6    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)–(continued)

October 31, 2021

(Unaudited)

    

 

     Shares      Value  

Industrials-(continued)

     

Textron, Inc.

     308,792      $ 22,804,289  

Wabtec Corp.

     150,320        13,638,534  
     

 

 

 
          103,343,555  
     

 

 

 

Information Technology-3.66%

     

DXC Technology Co.(b)

     345,677        11,258,700  

Hewlett Packard Enterprise Co.

     2,914,080        42,691,272  

HP, Inc.

     596,032        18,077,650  

Juniper Networks, Inc.

     515,078        15,205,103  

Western Digital Corp.(b)

     346,774        18,132,812  
     

 

 

 
        105,365,537  
     

 

 

 

Materials-3.98%

     

Corteva, Inc.

     330,108        14,244,160  

International Paper Co.

     179,281        8,904,887  

Mosaic Co. (The)

     700,419        29,116,418  

Nucor Corp.(c)

     311,625        34,792,931  

WestRock Co.

     572,038        27,515,028  
     

 

 

 
        114,573,424  
     

 

 

 

Real Estate-1.29%

     

CBRE Group, Inc., Class A(b)

     162,340        16,896,347  

Kimco Realty Corp.(c)

     891,439        20,146,522  
     

 

 

 
        37,042,869  
     

 

 

 

Utilities-2.86%

     

Consolidated Edison, Inc.

     157,880        11,904,152  

Edison International

     124,211        7,816,598  

Evergy, Inc.

     176,809        11,271,574  

Exelon Corp.

     458,303        24,377,137  

FirstEnergy Corp.

     292,046        11,252,532  

Pinnacle West Capital Corp.

     111,274        7,176,060  

PPL Corp.

     297,895        8,579,376  
     

 

 

 
        82,377,429  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $2,731,516,748)

 

     2,874,016,137  
     

 

 

 
     Shares      Value  

Money Market Funds-0.05%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $1,281,746)

     1,281,746      $ 1,281,746  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.93%
(Cost $2,732,798,494)

        2,875,297,883  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-3.89%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     33,396,570        33,396,570  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     78,627,614        78,659,066  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $112,055,635)

 

     112,055,636  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-103.82%
(Cost $2,844,854,129)

 

     2,987,353,519  

OTHER ASSETS LESS LIABILITIES-(3.82)%

 

     (109,980,240
     

 

 

 

NET ASSETS-100.00%

      $ 2,877,373,279  
     

 

 

 

 

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, 2021.

(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, 2021.

 

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

Invesco Ltd.

     $ 35,552,358      $ 24,095,101      $ (12,648,549 )     $ (7,663,135 )     $ 4,138,753      $ 43,474,528      $ 505,860

Investments in Affiliated Money Market Funds:

                                

Invesco Government & Agency Portfolio, Institutional Class

       -        40,260,291        (38,978,545 )       -       -        1,281,746        291

 

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

 

    7    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)–(continued)

October 31, 2021

(Unaudited)

    

 

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

Investments Purchased with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

     $ 11,852,653      $ 135,697,602      $ (114,153,685 )     $ -     $ -      $ 33,396,570      $ 1,318 *

Invesco Private Prime Fund

       17,778,980        279,827,485        (218,947,400 )       1       -        78,659,066        18,760 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 65,183,991      $ 479,880,479      $ (384,728,179 )     $ (7,663,134 )     $ 4,138,753      $ 156,811,910      $ 526,229
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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, 2021.

(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, 2021

 

Financials

    44.27    

Consumer Discretionary

    9.75                         

Health Care

    8.98    

Energy

    8.19    

Consumer Staples

    7.89    

Communication Services

    5.42    

Materials

    3.98    

Information Technology

    3.66    

Industrials

    3.59    

Sector Types Each Less Than 3%

    4.15    

Money Market Funds Plus Other Assets Less Liabilities

    0.12    

 

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

 

    8    

 

 

 

 


 

Invesco S&P 500® Top 50 ETF (XLG)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.93%

 

Communication Services-17.50%

     

Alphabet, Inc., Class A(b)

     32,152      $ 95,199,500  

Alphabet, Inc., Class C(b)

     30,090        89,229,187  

AT&T, Inc.

     762,070        19,249,888  

Comcast Corp., Class A

     488,866        25,142,378  

Meta Platforms, Inc., Class A(b)

     254,581        82,374,774  

Netflix, Inc.(b)

     47,241        32,610,935  

Verizon Communications, Inc.(c)

     441,880        23,415,221  

Walt Disney Co. (The)(b)

     193,945        32,790,281  
     

 

 

 
           400,012,164  
     

 

 

 

Consumer Discretionary-14.78%

     

Amazon.com, Inc.(b)

     46,527        156,909,051  

Home Depot, Inc. (The)

     113,481        42,185,427  

McDonald’s Corp.

     79,711        19,573,036  

NIKE, Inc., Class B

     136,411        22,820,196  

Tesla, Inc.(b)

     86,645        96,522,530  
     

 

 

 
        338,010,240  
     

 

 

 

Consumer Staples-6.39%

     

Coca-Cola Co. (The)

     414,651        23,373,877  

Costco Wholesale Corp.

     47,185        23,193,315  

PepsiCo, Inc.

     147,512        23,837,939  

Philip Morris International, Inc.

     166,347        15,726,446  

Procter & Gamble Co. (The)

     259,086        37,046,707  

Walmart, Inc.

     152,527        22,790,584  
     

 

 

 
        145,968,868  
     

 

 

 

Energy-2.31%

     

Chevron Corp.

     206,406        23,631,423  

Exxon Mobil Corp.

     451,857        29,131,221  
     

 

 

 
        52,762,644  
     

 

 

 

Financials-8.14%

     

Bank of America Corp.

     790,364        37,763,592  

Berkshire Hathaway, Inc., Class B(b)

     197,967        56,818,509  

Citigroup, Inc.

     216,323        14,960,899  

JPMorgan Chase & Co.

     319,143        54,219,204  

Wells Fargo & Co.

     438,288        22,422,814  
     

 

 

 
        186,185,018  
     

 

 

 

Health Care-11.69%

     

Abbott Laboratories

     189,220        24,388,566  

AbbVie, Inc.

     188,618        21,628,826  

Bristol-Myers Squibb Co.

     237,175        13,851,020  

Eli Lilly and Co.

     84,737        21,587,598  

Johnson & Johnson

     281,185        45,799,413  

Medtronic PLC

     143,436        17,192,239  

Merck & Co., Inc.

     270,178        23,789,173  

Pfizer, Inc.

     598,414        26,174,628  

Thermo Fisher Scientific, Inc.

     41,994        26,585,141  

UnitedHealth Group, Inc.

     100,708        46,373,013  
     

 

 

 
        267,369,617  
     

 

 

 
     Shares      Value  

Industrials-0.74%

     

Union Pacific Corp.

     69,605      $ 16,802,647  
     

 

 

 

Information Technology-38.38%

     

Accenture PLC, Class A

     67,685        24,284,700  

Adobe, Inc.(b)

     50,843        33,066,253  

Apple, Inc.

     1,677,551        251,297,140  

Broadcom, Inc.

     43,784        23,278,639  

Cisco Systems, Inc.(c)

     449,792        25,174,858  

Intel Corp.

     433,007        21,217,343  

Mastercard, Inc., Class A

     92,978        31,195,979  

Microsoft Corp.

     802,779        266,217,572  

NVIDIA Corp.

     266,140        68,044,014  

Oracle Corp.

     175,821        16,868,267  

PayPal Holdings, Inc.(b)

     125,414        29,170,042  

salesforce.com, inc.(b)

     103,694        31,076,055  

Texas Instruments, Inc.

     98,537        18,473,717  

Visa, Inc., Class A(c)

     180,122        38,144,436  
     

 

 

 
        877,509,015  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $1,399,739,613)

 

     2,284,620,213  
     

 

 

 

Money Market Funds-0.00%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e) (Cost $11,309)

     11,309        11,309  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.93%
(Cost $1,399,750,922)

 

     2,284,631,522  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-0.38%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     2,520,863        2,520,863  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     6,135,933        6,138,388  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $8,659,251)

 

     8,659,251  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-100.31% (Cost $1,408,410,173)

 

     2,293,290,773  

OTHER ASSETS LESS LIABILITIES-(0.31)%

 

     (7,008,194
     

 

 

 

NET ASSETS-100.00%

      $ 2,286,282,579  
     

 

 

 

 

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

 

    9    

 

 

 

 


 

Invesco S&P 500® Top 50 ETF (XLG)–(continued)

October 31, 2021

(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, 2021.

(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, 2021.

 

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

Investments in Affiliated Money Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $ -      $ 12,501,025      $ (12,489,716 )     $ -      $ -      $ 11,309      $ 95

Investments Purchased with Cash Collateral from Securities on Loan:

                                 

Invesco Private Government Fund

       -        16,282,894        (13,762,031 )       -        -        2,520,863        99 *

Invesco Private Prime Fund

       -        36,694,772        (30,556,384 )       -        -        6,138,388        1,240 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ -      $ 65,478,691      $ (56,808,131 )     $ -      $ -      $ 8,670,560      $ 1,434
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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, 2021.

(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, 2021

 

Information Technology

    38.38    

Communication Services

    17.50    

Consumer Discretionary

    14.78    

Health Care

    11.69                         

Financials

    8.14    

Consumer Staples

    6.39    

Sector Types Each Less Than 3%

    3.05    

Money Market Funds Plus Other Assets Less Liabilities

    0.07    

 

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

 

    10    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Growth ETF (RFG)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.92%

 

Communication Services-0.98%

     

Cable One, Inc.

     1,483      $ 2,537,725  

New York Times Co. (The), Class A

     28,014        1,529,284  
     

 

 

 
        4,067,009  
     

 

 

 

Consumer Discretionary-23.53%

     

Churchill Downs, Inc.

     24,178        5,560,940  

Crocs, Inc.(b)

     56,049        9,049,111  

Deckers Outdoor Corp.(b)

     14,530        5,743,854  

Five Below, Inc.(b)

     20,959        4,135,211  

Fox Factory Holding Corp.(b)

     44,693        7,193,338  

Helen of Troy Ltd.(b)(c)

     15,974        3,593,351  

Jack in the Box, Inc.

     15,704        1,553,911  

Lithia Motors, Inc., Class A

     19,451        6,209,148  

Mattel, Inc.(b)

     100,847        2,199,473  

Ollie’s Bargain Outlet Holdings, Inc.(b)(c)

     58,550        3,961,493  

RH(b)(c)

     16,242        10,713,711  

Tempur Sealy International, Inc.

     80,270        3,569,607  

Texas Roadhouse, Inc.

     21,299        1,891,564  

TopBuild Corp.(b)(c)

     32,800        8,428,616  

Williams-Sonoma, Inc.

     40,022        7,433,286  

Wingstop, Inc.(c)

     46,428        8,007,437  

YETI Holdings, Inc.(b)

     84,739        8,332,386  
     

 

 

 
        97,576,437  
     

 

 

 

Consumer Staples-2.57%

     

Boston Beer Co., Inc. (The), Class A(b)(c)

     7,892        3,886,652  

Darling Ingredients, Inc.(b)

     80,365        6,792,450  
     

 

 

 
        10,679,102  
     

 

 

 

Energy-1.89%

     

Antero Midstream Corp.

     495,976        5,277,185  

CNX Resources Corp.(b)(c)

     176,107        2,572,923  
     

 

 

 
        7,850,108  
     

 

 

 

Financials-7.55%

     

Brighthouse Financial, Inc.(b)

     186,392        9,362,470  

FactSet Research Systems, Inc.

     6,028        2,675,769  

Interactive Brokers Group, Inc., Class A

     34,043        2,411,947  

Kinsale Capital Group, Inc.

     34,110        6,383,687  

Primerica, Inc.

     17,605        2,961,865  

SLM Corp.

     409,150        7,507,902  
     

 

 

 
          31,303,640  
     

 

 

 

Health Care-21.41%

     

Amedisys, Inc.(b)

     15,694        2,657,622  

Arrowhead Pharmaceuticals, Inc.(b)

     36,632        2,337,854  

Chemed Corp.

     3,653        1,761,659  

Emergent BioSolutions, Inc.(b)

     68,485        3,264,680  

Exelixis, Inc.(b)

     206,379        4,439,212  

Halozyme Therapeutics, Inc.(b)

     119,643        4,554,809  

HealthEquity, Inc.(b)

     57,077        3,777,356  

Jazz Pharmaceuticals PLC(b)

     12,669        1,685,484  

LHC Group, Inc.(b)

     12,788        1,721,137  

Masimo Corp.(b)

     14,990        4,250,265  

Medpace Holdings, Inc.(b)

     46,511        10,537,067  

Neurocrine Biosciences, Inc.(b)

     29,014        3,058,366  

Penumbra, Inc.(b)(c)

     17,594        4,865,621  

Quidel Corp.(b)(c)

     41,433        5,501,059  

R1 RCM, Inc.(b)

     282,669        6,133,917  
     Shares      Value  

Health Care-(continued)

     

Repligen Corp.(b)

     40,909      $ 11,884,064  

STAAR Surgical Co.(b)

     81,655        9,672,851  

Syneos Health, Inc.(b)

     71,617        6,684,731  
     

 

 

 
        88,787,754  
     

 

 

 

Industrials-15.55%

     

ASGN, Inc.(b)

     39,516        4,728,484  

Axon Enterprise, Inc.(b)

     47,380        8,526,505  

FTI Consulting, Inc.(b)(c)

     22,754        3,274,756  

Graco, Inc.

     29,931        2,250,212  

Insperity, Inc.

     28,764        3,595,500  

Knight-Swift Transportation Holdings, Inc.

     98,847        5,603,636  

Lincoln Electric Holdings, Inc.

     13,636        1,941,766  

Mercury Systems, Inc.(b)

     29,829        1,537,387  

Saia, Inc.(b)

     25,225        7,886,344  

Simpson Manufacturing Co., Inc.

     28,340        3,006,591  

Sunrun, Inc.(b)

     102,904        5,935,503  

Tetra Tech, Inc.

     19,880        3,492,121  

Timken Co. (The)

     40,147        2,848,430  

Toro Co. (The)

     21,251        2,028,833  

Trex Co., Inc.(b)

     73,472        7,817,421  
     

 

 

 
        64,473,489  
     

 

 

 

Information Technology-24.06%

     

Brooks Automation, Inc.

     87,987        10,246,086  

Cerence, Inc.(b)(c)

     50,832        5,343,968  

CMC Materials, Inc.

     27,079        3,476,131  

Cognex Corp.

     26,277        2,301,602  

Digital Turbine, Inc.(b)(c)

     161,616        13,908,673  

Fair Isaac Corp.(b)

     6,697        2,666,745  

First Solar, Inc.(b)

     50,874        6,084,022  

II-VI Incorporated(b)(c)

     98,845        5,981,111  

Lattice Semiconductor Corp.(b)(c)

     66,070        4,587,901  

Lumentum Holdings, Inc.(b)

     31,937        2,637,358  

Mimecast Ltd.(b)

     54,679        4,124,984  

MKS Instruments, Inc.

     11,385        1,708,319  

Paylocity Holding Corp.(b)

     31,737        9,684,228  

Qualys, Inc.(b)(c)

     29,239        3,639,671  

SailPoint Technologies Holding, Inc.(b)

     91,578        4,393,912  

SolarEdge Technologies, Inc.(b)

     27,142        9,626,725  

SunPower Corp.(b)(c)

     233,655        7,864,827  

Universal Display Corp.

     8,136        1,490,515  
     

 

 

 
        99,766,778  
     

 

 

 

Materials-2.38%

     

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

     185,493        4,472,236  

Scotts Miracle-Gro Co. (The)

     36,258        5,382,863  
     

 

 

 
        9,855,099  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $308,558,651)

 

     414,359,416  
     

 

 

 

 

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

 

    11    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Growth ETF (RFG)–(continued)

October 31, 2021

(Unaudited)

    

 

     Shares      Value  

Money Market Funds-0.07%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $275,111)

     275,111      $ 275,111  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.99%
(Cost $308,833,762)

 

     414,634,527  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-16.49%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     20,517,469        20,517,469  
     Shares      Value  

Money Market Funds-(continued)

 

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     47,854,952      $ 47,874,094  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $68,391,563)

 

     68,391,563  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-116.48%
(Cost $377,225,325)

 

     483,026,090  

OTHER ASSETS LESS LIABILITIES-(16.48)%

 

     (68,344,670
     

 

 

 

NET ASSETS-100.00%

      $ 414,681,420  
     

 

 

 

 

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, 2021.

(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, 2021.

 

    Value
April 30, 2021
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
   Realized
Gain
   Value
October 31, 2021
   Dividend
Income
Investments in Affiliated Money Market Funds:                                 

Invesco Government & Agency Portfolio, Institutional Class

    $ 41,757      $ 14,563,856      $ (14,330,502 )     $ -      $ -      $ 275,111      $ 51
Investments Purchased with Cash Collateral from Securities on Loan:                                 

Invesco Private Government Fund

      21,986,402        93,218,672        (94,687,605 )       -        -        20,517,469        1,478 *

Invesco Private Prime Fund

      32,979,603        147,562,640        (132,668,149 )       -        -        47,874,094        21,326 *
   

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

    $ 55,007,762      $ 255,345,168      $ (241,686,256 )     $ -      $ -      $ 68,666,674      $ 22,855
   

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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, 2021.

(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.

 

    12    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Growth ETF (RFG)–(continued)

October 31, 2021

(Unaudited)

 

 Portfolio Composition

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

 as of October 31, 2021

 

Information Technology

    24.06    

Consumer Discretionary

    23.53    

Health Care

    21.41                         

Industrials

    15.55    

Financials

    7.55    

Sector Types Each Less Than 3%

    7.82    

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.

 

    13    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Value ETF (RFV)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.94%

 

Communication Services-1.82%

     

Telephone & Data Systems, Inc.

     146,551      $ 2,746,366  
     

 

 

 

Consumer Discretionary-18.74%

     

Adient PLC(b)

     20,391        848,673  

AutoNation, Inc.(b)

     28,249        3,421,519  

Dana, Inc.

     91,497        2,030,318  

Dick’s Sporting Goods, Inc.(c)

     21,827        2,711,132  

Foot Locker, Inc.

     36,638        1,746,533  

Goodyear Tire & Rubber Co. (The)(b)

     76,511        1,462,890  

Graham Holdings Co., Class B

     4,223        2,474,045  

KB Home

     40,690        1,633,703  

Kohl’s Corp.(c)

     50,227        2,437,516  

Lear Corp.

     6,636        1,140,397  

Murphy USA, Inc.

     11,077        1,804,997  

Taylor Morrison Home Corp., Class A(b)

     82,179        2,508,925  

Thor Industries, Inc.(c)

     9,560        974,738  

Tri Pointe Homes, Inc.(b)

     98,356        2,379,232  

Urban Outfitters, Inc.(b)(c)

     22,664        723,662  
     

 

 

 
          28,298,280  
     

 

 

 

Consumer Staples-5.26%

     

BJ’s Wholesale Club Holdings, Inc.(b)(c)

     27,345        1,598,042  

Ingredion, Inc.

     8,662        824,882  

Performance Food Group Co.(b)

     35,336        1,598,247  

Pilgrim’s Pride Corp.(b)

     80,723        2,273,160  

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

     74,520        1,649,873  
     

 

 

 
        7,944,204  
     

 

 

 

Energy-2.27%

     

HollyFrontier Corp.

     101,254        3,422,385  
     

 

 

 

Financials-36.74%

     

Alleghany Corp.(b)

     1,939        1,263,026  

American Financial Group, Inc.

     9,238        1,256,737  

Associated Banc-Corp.

     82,392        1,835,694  

Bank OZK

     30,331        1,354,886  

Cadence Bank

     30,915        897,153  

Cathay General Bancorp

     28,145        1,187,438  

CIT Group, Inc.

     13,841        685,545  

CNO Financial Group, Inc.

     81,863        1,976,173  

East West Bancorp, Inc.

     11,311        898,998  

F.N.B. Corp.

     133,379        1,553,865  

First American Financial Corp.

     26,367        1,928,482  

First Horizon Corp.

     78,937        1,339,561  

Fulton Financial Corp.

     86,179        1,387,482  

Hancock Whitney Corp.

     27,277        1,349,666  

Hanover Insurance Group, Inc. (The)

     8,773        1,105,398  

International Bancshares Corp.

     23,009        975,582  

Janus Henderson Group PLC

     15,837        736,420  

Jefferies Financial Group, Inc.

     71,385        3,069,555  

Kemper Corp.

     15,097        958,358  

Mercury General Corp.

     30,283        1,650,121  

MGIC Investment Corp.

     79,316        1,281,747  

Navient Corp.

     165,650        3,263,305  

New York Community Bancorp, Inc.

     112,491        1,398,263  

Old Republic International Corp.

     85,815        2,216,601  

Pinnacle Financial Partners, Inc.

     14,654        1,415,137  

Prosperity Bancshares, Inc.

     11,706        881,579  

Reinsurance Group of America, Inc.

     19,752        2,332,316  
     Shares      Value  

Financials-(continued)

     

Selective Insurance Group, Inc.

     8,401      $ 658,386  

Sterling Bancorp

     66,492        1,692,221  

Synovus Financial Corp.

     24,040        1,120,024  

Texas Capital Bancshares, Inc.(b)

     9,158        554,975  

UMB Financial Corp.

     8,013        791,845  

United Bankshares, Inc.

     29,879        1,105,224  

Unum Group

     154,025        3,923,017  

Valley National Bancorp

     109,238        1,448,496  

Washington Federal, Inc.

     39,945        1,412,455  

Webster Financial Corp.

     15,438        863,910  

Wintrust Financial Corp.

     19,271        1,705,483  
     

 

 

 
        55,475,124  
     

 

 

 

Health Care-1.96%

     

Perrigo Co. PLC(c)

     30,185        1,362,853  

Tenet Healthcare Corp.(b)

     22,411        1,605,972  
     

 

 

 
        2,968,825  
     

 

 

 

Industrials-9.97%

     

AECOM(b)

     14,656        1,002,031  

Colfax Corp.(b)

     14,066        726,087  

Dycom Industries, Inc.(b)(c)

     10,426        828,033  

EMCOR Group, Inc.

     10,781        1,309,784  

GATX Corp.(c)

     5,523        523,857  

KAR Auction Services, Inc.(b)(c)

     32,630        478,682  

KBR, Inc.

     19,128        811,792  

Kirby Corp.(b)

     10,985        575,724  

ManpowerGroup, Inc.

     17,383        1,680,067  

MasTec, Inc.(b)

     13,793        1,229,370  

Oshkosh Corp.

     8,705        931,435  

Ryder System, Inc.

     24,952        2,119,672  

Trinity Industries, Inc.

     22,091        619,652  

Univar Solutions, Inc.(b)

     86,692        2,217,581  
     

 

 

 
        15,053,767  
     

 

 

 

Information Technology-10.83%

     

Alliance Data Systems Corp.

     9,920        845,680  

Arrow Electronics, Inc.(b)

     20,759        2,402,854  

Avnet, Inc.

     78,517        2,992,283  

Jabil, Inc.

     31,632        1,896,655  

NCR Corp.(b)

     29,733        1,175,643  

NetScout Systems, Inc.(b)

     35,809        968,992  

SYNNEX Corp.

     21,633        2,271,465  

ViaSat, Inc.(b)(c)

     31,276        1,866,864  

Xerox Holdings Corp.

     109,004        1,940,271  
     

 

 

 
          16,360,707  
     

 

 

 

Materials-5.88%

     

Commercial Metals Co.

     99,781        3,210,953  

Greif, Inc., Class A

     23,429        1,515,388  

Minerals Technologies, Inc.

     9,773        693,297  

Reliance Steel & Aluminum Co.

     7,495        1,095,469  

Steel Dynamics, Inc.

     20,081        1,326,952  

United States Steel Corp.(c)

     39,105        1,031,981  
     

 

 

 
        8,874,040  
     

 

 

 

Real Estate-4.45%

     

Cousins Properties, Inc.

     15,301        606,073  

Jones Lang LaSalle, Inc.(b)

     7,985        2,061,966  

Macerich Co. (The)(c)

     90,605        1,639,044  

 

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

 

    14    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Value ETF (RFV)–(continued)

October 31, 2021

(Unaudited)

    

 

     Shares      Value  

Real Estate-(continued)

     

Pebblebrook Hotel Trust(c)

     32,613      $ 732,488  

Sabra Health Care REIT, Inc.

     31,380        444,027  

SL Green Realty Corp.

     17,594        1,232,812  
     

 

 

 
        6,716,410  
     

 

 

 

Utilities-2.02%

     

ALLETE, Inc.

     8,132        500,443  

MDU Resources Group, Inc.

     32,852        1,009,542  

Southwest Gas Holdings, Inc.

     12,275        850,044  

UGI Corp.

     16,037        696,166  
     

 

 

 
        3,056,195  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $140,875,181)

 

     150,916,303  
     

 

 

 

Money Market Funds-0.01%

     

Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)
(Cost $16,681)

     16,681        16,681  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.95%
(Cost $140,891,862)

        150,932,984  
     

 

 

 
     Shares      Value  

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-10.33%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     4,676,722      $ 4,676,722  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     10,907,987        10,912,351  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $15,589,073)

 

     15,589,073  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-110.28%
(Cost $156,480,935)

 

     166,522,057  

OTHER ASSETS LESS LIABILITIES-(10.28)%

 

     (15,516,631
     

 

 

 

NET ASSETS-100.00%

      $ 151,005,426  
     

 

 

 

 

Investment Abbreviations:

REIT-Real Estate Investment Trust

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, 2021.

(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, 2021.

 

     Value
April 30, 2021
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
   Realized
Gain
   Value
October 31, 2021
   Dividend
Income
Investments in Affiliated Money Market Funds:                                  

Invesco Government & Agency
Portfolio, Institutional Class

     $ 4,848      $ 2,028,609      $ (2,016,776 )     $ -      $ -      $ 16,681      $ 13
Investments Purchased with Cash Collateral from Securities on Loan:                                  

Invesco Private Government Fund

       4,367,082        24,150,742        (23,841,102 )       -        -        4,676,722        273 *

Invesco Private Prime Fund

       6,550,623        45,188,876        (40,827,148 )       -        -        10,912,351        4,095 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ 10,922,553      $ 71,368,227      $ (66,685,026 )     $ -      $ -      $ 15,605,754      $ 4,381
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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, 2021.

(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.

 

    15    

 

 

 

 


 

Invesco S&P Midcap 400® Pure Value ETF (RFV)–(continued)

October 31, 2021

(Unaudited)

 

Portfolio Composition

Sector Breakdown (% of the Fund’s Net Assets)
as of October 31, 2021

 

Financials

    36.74    

Consumer Discretionary

    18.74    

Information Technology

    10.83    

Industrials

    9.97    

Materials

    5.88                     

Consumer Staples

    5.26    

Real Estate

    4.45    

Sector Types Each Less Than 3%

    8.07    

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.

 

    16    

 

 

 

 


 

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)

October 31, 2021

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.99%

 

Communication Services-1.91%

     

QuinStreet, Inc.(b)

     34,114      $ 477,595  

TechTarget, Inc.(b)(c)

     23,887        2,252,783  
     

 

 

 
        2,730,378  
     

 

 

 

Consumer Discretionary-19.15%

     

Big Lots, Inc.(c)

     39,327        1,740,220  

Century Communities, Inc.

     33,190        2,225,721  

Dine Brands Global, Inc.(b)

     9,257        782,309  

Dorman Products, Inc.(b)

     4,656        485,993  

Hibbett, Inc.(c)

     28,418        2,200,690  

Installed Building Products, Inc.

     11,679        1,483,817  

iRobot Corp.(b)(c)

     20,843        1,738,723  

LCI Industries

     3,817        533,006  

LGI Homes, Inc.(b)

     12,339        1,842,212  

Lumber Liquidators Holdings, Inc.(b)

     40,197        726,762  

MarineMax, Inc.(b)

     55,100        2,853,629  

Meritage Homes Corp.(b)

     11,393        1,238,533  

Patrick Industries, Inc.

     13,768        1,072,665  

PetMed Express, Inc.(c)

     17,997        511,655  

Rent-A-Center, Inc.

     23,510        1,252,142  

Shake Shack, Inc., Class A(b)(c)

     4,393        303,864  

Shutterstock, Inc.

     12,879        1,560,291  

Sleep Number Corp.(b)(c)

     15,809        1,396,567  

Tupperware Brands Corp.(b)(c)

     12,991        288,920  

Vista Outdoor, Inc.(b)

     75,238        3,147,958  
     

 

 

 
        27,385,677  
     

 

 

 

Consumer Staples-5.41%

     

B&G Foods, Inc.(c)

     33,958        999,724  

Celsius Holdings, Inc.(b)

     34,502        3,330,133  

Medifast, Inc.

     8,694        1,706,371  

National Beverage Corp.(c)

     23,728        1,338,259  

WD-40 Co.(c)

     1,585        359,795  
     

 

 

 
        7,734,282  
     

 

 

 

Energy-3.93%

     

Bonanza Creek Energy, Inc.(c)

     57,073        3,204,078  

DMC Global, Inc.(b)(c)

     9,339        390,184  

Renewable Energy Group, Inc.(b)(c)

     31,764        2,032,896  
     

 

 

 
        5,627,158  
     

 

 

 

Financials-14.91%

     

Axos Financial, Inc.(b)

     24,183        1,281,699  

Brightsphere Investment Group, Inc.

     63,453        1,902,321  

eHealth, Inc.(b)(c)

     10,600        470,110  

Green Dot Corp., Class A(b)

     22,542        954,879  

HCI Group, Inc.

     13,183        1,766,654  

Mr. Cooper Group, Inc.(b)

     82,622        3,622,149  

NMI Holdings, Inc., Class A(b)

     24,425        593,039  

Palomar Holdings, Inc.(b)

     14,460        1,322,367  

PRA Group, Inc.(b)

     15,747        675,231  

ServisFirst Bancshares, Inc.

     14,644        1,176,060  

StoneX Group, Inc.(b)

     24,405        1,686,630  

Triumph Bancorp, Inc.(b)

     14,318        1,679,501  

Trupanion, Inc.(b)(c)

     16,413        1,680,691  

Virtus Investment Partners, Inc.

     4,602        1,472,640  

Walker & Dunlop, Inc.

     8,064        1,048,884  
     

 

 

 
        21,332,855  
     

 

 

 
     Shares      Value  

Health Care-23.97%

     

Addus HomeCare Corp.(b)

     4,966      $ 464,321  

Allscripts Healthcare Solutions, Inc.(b)

     37,722        519,809  

Avanos Medical, Inc.(b)

     33,335        1,051,386  

BioLife Solutions, Inc.(b)

     39,924        2,121,961  

Coherus Biosciences, Inc.(b)(c)

     90,170        1,508,544  

Collegium Pharmaceutical, Inc.(b)(c)

     51,493        1,010,808  

Community Health Systems, Inc.(b)

     164,113        2,149,880  

Corcept Therapeutics, Inc.(b)

     64,799        1,166,382  

Cytokinetics, Inc.(b)(c)

     26,983        941,977  

Ensign Group, Inc. (The)

     12,684        989,479  

Fulgent Genetics, Inc.(b)(c)

     37,332        3,095,569  

Heska Corp.(b)(c)

     2,096        468,519  

Innoviva, Inc.(b)

     86,237        1,504,836  

Joint Corp. (The)(b)

     19,831        1,734,816  

LeMaitre Vascular, Inc.

     8,251        429,134  

Meridian Bioscience, Inc.(b)

     66,397        1,248,928  

Merit Medical Systems, Inc.(b)

     18,498        1,244,175  

ModivCare, Inc.(b)

     5,843        951,065  

NeoGenomics, Inc.(b)(c)

     23,542        1,082,932  

Omnicell, Inc.(b)

     4,158        740,748  

OptimizeRx Corp.(b)(c)

     23,267        2,249,919  

Pacira BioSciences, Inc.(b)

     16,231        848,557  

Pennant Group, Inc. (The)(b)

     24,690        631,323  

REGENXBIO, Inc.(b)

     17,012        602,905  

Simulations Plus, Inc.(c)

     21,878        1,104,839  

Supernus Pharmaceuticals, Inc.(b)

     37,662        1,124,211  

Tabula Rasa HealthCare, Inc.(b)(c)

     10,638        288,822  

Tactile Systems Technology, Inc.(b)

     7,672        264,607  

Vericel Corp.(b)(c)

     18,695        860,344  

Xencor, Inc.(b)

     20,299        803,028  

Zynex, Inc.(b)(c)

     86,333        1,081,752  
     

 

 

 
        34,285,576  
     

 

 

 

Industrials-9.80%

     

AAON, Inc.

     11,216        803,626  

AeroVironment, Inc.(b)

     10,236        912,130  

Alamo Group, Inc.

     4,033        609,790  

Chart Industries, Inc.(b)(c)

     11,534        2,047,516  

Comfort Systems USA, Inc.

     17,232        1,576,211  

Exponent, Inc.

     6,265        719,222  

Federal Signal Corp.

     13,865        593,561  

Forrester Research, Inc.(b)

     8,540        454,755  

Forward Air Corp.

     6,901        693,964  

Franklin Electric Co., Inc.

     5,727        494,698  

Gibraltar Industries, Inc.(b)

     7,030        458,075  

Marten Transport Ltd.

     32,232        536,018  

Matson, Inc.

     11,192        932,070  

PGT Innovations, Inc.(b)

     39,996        853,915  

Proto Labs, Inc.(b)

     5,408        323,452  

Vicor Corp.(b)

     13,246        2,007,961  
     

 

 

 
        14,016,964  
     

 

 

 

Information Technology-13.83%

     

8x8, Inc.(b)

     20,347        461,063  

Advanced Energy Industries, Inc.

     12,296        1,129,019  

Agilysys, Inc.(b)

     13,798        658,441  

Alarm.com Holdings, Inc.(b)

     19,816        1,669,696  

Arlo Technologies, Inc.(b)

     106,779        736,775  

Badger Meter, Inc.

     4,629        473,315  

 

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

 

    17    

 

 

 

 


 

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)–(continued)

October 31, 2021

(Unaudited)

    

 

     Shares      Value  

Information Technology-(continued)

     

CEVA, Inc.(b)

     15,081      $ 687,844  

Cohu, Inc.(b)

     14,102        451,828  

Diodes, Inc.(b)

     9,228        886,719  

Ebix, Inc.(c)

     21,455        703,939  

EVERTEC, Inc.

     11,582        523,622  

ExlService Holdings, Inc.(b)

     6,144        753,439  

FormFactor, Inc.(b)

     22,751        905,035  

LivePerson, Inc.(b)(c)

     14,358        739,581  

OneSpan, Inc.(b)

     16,713        341,279  

Onto Innovation, Inc.(b)

     14,160        1,121,614  

Perficient, Inc.(b)(c)

     10,482        1,295,575  

Power Integrations, Inc.

     9,476        978,018  

SPS Commerce, Inc.(b)

     12,699        1,939,518  

TTEC Holdings, Inc.

     11,529        1,088,222  

Ultra Clean Holdings, Inc.(b)

     19,164        949,959  

Viavi Solutions, Inc.(b)

     26,264        404,466  

Vonage Holdings Corp.(b)

     54,685        881,522  
     

 

 

 
        19,780,489  
     

 

 

 

Materials-1.52%

     

Livent Corp.(b)(c)

     43,590        1,230,110  

Quaker Houghton

     3,816        938,125  
     

 

 

 
        2,168,235  
     

 

 

 

Real Estate-5.56%

     

Community Healthcare Trust, Inc.

     9,404        449,887  

Essential Properties Realty Trust, Inc.

     31,654        942,973  

Innovative Industrial Properties, Inc.(c)

     11,139        2,930,560  

Safehold, Inc.

     21,334        1,593,650  

St. Joe Co. (The)

     43,408        2,041,045  
     

 

 

 
        7,958,115  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $109,519,614)

        143,019,729  
     

 

 

 
     Shares      Value  

Money Market Funds-0.01%

     

Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(d)(e)
(Cost $16,819)

     16,819      $ 16,819  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.00%
(Cost $109,536,433)

 

     143,036,548  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-26.49%

     

Invesco Private Government Fund,
0.02%(d)(e)(f)

     11,369,643        11,369,643  

Invesco Private Prime Fund, 0.11%(d)(e)(f)

     26,518,560        26,529,167  
     

 

 

 

Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $37,898,810)

 

     37,898,810  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-126.49%
(Cost $147,435,243)

 

     180,935,358  

OTHER ASSETS LESS LIABILITIES-(26.49)%

 

     (37,896,927
     

 

 

 

NET ASSETS-100.00%

      $ 143,038,431  
     

 

 

 

 

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, 2021.

(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, 2021.

 

     Value
April 30, 2021
   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
   Realized
Gain
   Value
October 31, 2021
   Dividend
Income
Investments in Affiliated Money Market Funds:                                  
Invesco Government & Agency
Portfolio, Institutional Class
     $ 2,306,469      $ 903,640      $ (3,193,290 )       $-        $-      $ 16,819      $ 10
Investments Purchased with Cash Collateral from Securities on Loan:                                  
Invesco Private Government Fund        10,675,039        30,374,301        (29,679,697 )       -        -        11,369,643        856 *
Invesco Private Prime Fund        16,078,005        60,656,378        (50,205,216 )       -        -        26,529,167        12,248 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 
Total      $ 29,059,513      $ 91,934,319      $ (83,078,203 )       $-        $-      $ 37,915,629      $ 13,114
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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.

 

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

 

    18