N-CSRS

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)


	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)


	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)


	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)


	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)


	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