Invesco Annual Report to Shareholders October 31, 2021
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PBTP Invesco PureBetaSM 0-5 Yr US TIPS ETF PBDM Invesco PureBetaSM FTSE Developed ex-North America ETF PBEE Invesco PureBetaSM FTSE Emerging Markets ETF |
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Domestic Equity
US equity markets posted gains in the fourth quarter of 2020, as positive news on coronavirus (“COVID-19”) vaccines and strong corporate earnings outweighed investor concerns about the political disagreement over a fiscal stimulus package and sharply rising COVID-19 infections nationwide. Cyclical sectors like energy and financials led the way, while real estate and consumer staples lagged. Market leadership also shifted during the quarter with value stocks outperforming growth for the first time since the fourth quarter of 2016. While the US economy rebounded significantly since the pandemic began, the recovery appeared to slow in the fourth quarter with employment gains and gross domestic product (GDP) growth down from the third quarter of 2020. However, stocks were buoyed by the US Federal Reserve’s (the Fed’s) pledge to maintain its accommodative stance and asset purchases, “until substantial further progress has been made” toward employment and inflation targets.
US political unrest and rising COVID-19 infection rates marked the start of the first quarter of 2021. Additionally, retail investors bid up select stocks like GameStop and AMC Theaters, ultimately causing a sharp selloff in late January. Corporate earnings generally beat expectations, but market volatility rose during the quarter as investors worried about rising bond yields and inflation. Despite the Fed’s commitment to an accommodative policy, the 10-year US Treasury yield rose from 0.92% at year-end to 1.74%1 at the end of March 2021. Approval of a third COVID-19 vaccine boosted investors’ optimism for faster economic recovery. Although March saw increased volatility with consecutive down days in the US stock market, stocks continued to hit all-time highs through April 2021.
The US stock market once again hit new highs in the second quarter of 2021, despite higher volatility stemming from inflation concerns and the potential for rising interest rates. Investors remained optimistic about the strength of the economic recovery after the Bureau of Economic Analysis reported that the US GDP grew at a 6.4% annualized rate for the first quarter of 2021. 2 Corporate earnings also remained strong as the majority of S&P 500 companies beat Wall Street earnings forecasts. US equity markets continued to move higher in July despite inflation concerns and increasing COVID-19 infection rates due to the rapidly spreading Delta variant. Despite the Consumer Price Index (CPI) increasing in June through September 2021,3 the Fed declined to raise interest rates at its September Federal Open Market Committee (FOMC) meeting. The US stock market saw continued volatility in August 2021 and a selloff through most of September due to increasing concerns of inflation due to a spike in oil prices and supply chain shortages causing rising costs. In October 2021, investor sentiment improved as many S&P 500 index companies met or exceeded earnings expectations and the index hit new record highs. For the fiscal year, the S&P 500 Index returned 42.91%.4
1 |
Source: US Department of the Treasury |
2 |
Source: US Bureau of Economic Analysis |
3 |
Source: US Bureau of Labor Statistics, July 13, 2021 |
4 |
Source: Lipper Inc. |
Global Equity
At the beginning of the fiscal year, global equity markets posted gains as good news about COVID-19 vaccines outweighed concerns about sharply rising infection rates and tightening social restrictions. In most global regions, equity market leadership shifted as value stocks outperformed growth stocks. Emerging market equities posted robust gains amplified by US dollar weakness.
Global equity markets ended the first quarter of 2021 in positive territory amid concerns about rising bond yields and inflation. The value-led equity rally continued in most regions, with value stocks outperforming growth stocks. The successful rollout of COVID-19 vaccinations in the US and UK benefited equity markets. However, even regions facing slower rollouts, including the Eurozone and Japan, performed well, driven by a rebound in global demand for goods.
During the second quarter of 2021, global equity markets were again bolstered by the continued acceleration of vaccination rollouts and easing of COVID-19 related restrictions in most developed markets. In a reversal from the first quarter, growth stocks outperformed value stocks in most regions. Emerging market equities were led by Brazil which benefited from global tailwinds, while regulatory concerns weighed on Chinese equities.
Developed global equity markets were flat in the third quarter of 2021 amid concerns about rising inflation, supply disruptions and the economic growth rate. Energy stocks and energy-driven markets performed well as global shortages pushed oil and gas prices higher. Emerging market equities declined during the quarter, primarily due to weak performance from Chinese equities, which were affected by significant regulatory changes in the private tutoring industry, increased regulation in the technology sector and the potential default of a large Chinese property developer.
In October of 2021, global equity stocks were positive with the US market leading the way, and Chinese equities rebounded after their decline in the third quarter. Overall, developed market equities outperformed emerging market equities for the fiscal year.
Fixed Income
Fixed income markets posted positive gains in the third quarter of 2020 primarily due to the Federal Reserve’s (Fed) continued accommodative pledge to keep interest rates low through 2023, extending central bank support of many fixed income asset classes. Additionally, the Fed announced a revised framework for interest rate policy by changing the way its inflation targets operate, aiming for lower volatility within interest rates. Corporate credit spreads in the US and globally rallied early in the quarter, however, US markets wobbled late in the quarter amid a
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The Market Environment (continued)
resurgence in European COVID-19 cases, as well as questions over refreshed fiscal stimulus measures. Central banks across developed nations in Europe and Asia have taken accommodative stances to keeping interest rate low. Uncertainty regarding the 2020 US presidential election and concerns of smooth transitions of power dampened markets towards the end of the quarter. The unemployment rate fell to 7.9%,1 its lowest since the beginning of the COVID-19 pandemic.
US corporate markets posted gains in the fourth quarter of 2020, as positive news on COVID-19 vaccines and strong corporate earnings outweighed investor concerns about political disagreement over a fiscal stimulus package and sharply rising COVID-19 infections nationwide. Global corporate markets were also buoyed by similar factors and ultra-accommodative central bank policies. Bonds were buoyed by the Fed’s pledge to maintain its accommodative stance and asset purchases, “until substantial further progress has been made” toward employment and inflation targets. Corporate issuance of investment grade credit slowed in the quarter, concluding a year of record issuance. US interest rate moves subtly affected fixed income valuations during the quarter. The two-year Treasury yield fell from 0.14% to 0.13%, while the 10-year yield saw an increase of 25 basis points, rising from 0.68% to 0.93% (a basis point is one one-hundredth of a percentage point).2 The yield curve, as measured by the yield differential between 2- and 10-year Treasuries, steepened modestly during the quarter. Cyclical sectors like energy and financials led the way, while real estate and consumer staples lagged.
In the first quarter of 2021, rising 10-year US Treasury yields increased significantly to 1.74%,2 their highest level since January 2020, reflecting higher inflation expectations. Largely a result of economic optimism, government bond yields rose globally during the first quarter of 2021, as investors began to price in higher levels of economic growth and inflation moving towards a post-pandemic world. On the fiscal front, another stimulus package was signed into law and COVID-19 vaccine approvals and administration ramped up. 30-year Treasury yields moved higher by 0.77% to end the quarter at 2.41%. Importantly, short-term rates, which are closely tied to Fed policy, were quite steady. Two-year US Treasury yields moved up just 0.04% to 0.16%.2
Fixed income markets settled down in the second quarter of 2021, posting gains and rebounding from negative performance experienced during the early part of the year due to a sharply rising interest rate environment. Globally, corporate credit markets rallied as economic activity continued to rebound. Yet global corporate credit spreads took a step back at the beginning of the third quarter of 2021, while credit stress from key emerging market country issuers stirred fear of possible global contagion. Despite higher volatility stemming from inflation concerns and potential for rising interest rates, investors remained optimistic about the strength of the economic recovery after the
Bureau of Economic Analysis reported that US GDP grew at a 6.4% annualized rate for the first quarter of 2021.3 As the US COVID-19 vaccination rate neared the 50% threshold, consumers resumed pre-pandemic activities in the third quarter, and economically sensitive areas, such as the consumer discretionary and technology sectors, began to recover. With an inconsistent global vaccine rollout and the threat of COVID-19 variants on the rise, investors remained cautiously optimistic and expected corporate balance sheets to continue to recover meaningfully in 2021.
1 |
Source: US Bureau of Labor Statistics |
2 |
Source: US Department of the Treasury |
3 |
Source: US Bureau of Economic Analysis |
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PBTP | Management’s Discussion of Fund Performance | |
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP) |
As an index fund, the Invesco PureBetaSM 0-5 Yr US TIPS ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the ICE BofA 0-5 Year US Inflation-Linked Treasury IndexSM (the “Index”). The Fund generally will invest at least 80% of its total assets in the component securities that comprise the Index.
Strictly in accordance with its guidelines and mandated procedures, ICE Data Indices, LLC (the “Index Provider”) compiles, maintains and calculates the Underlying Index, which is designed to measure the performance of the shorter maturity subset of the U.S. Treasury Inflation-Protected Securities (“TIPS”) market, represented by TIPS with a remaining maturity of at least one month and less than five years. TIPS are U.S. dollar-denominated, U.S. government debt securities that are publicly offered for sale in the United States. TIPS are “inflation-linked”, meaning that their principal and interest payments are tied to inflation (as measured by the Consumer Price Index). TIPS are issued by the U.S. Treasury, and their payments are supported by the full faith and credit of the United States.
To qualify for inclusion in the Underlying Index, securities must have: (i) at least one month but less than five years remaining term to final maturity; (ii) at least 18 months to maturity when issued; and (iii) a minimum amount outstanding of $1 billion. Original issue zero coupon bonds may be included in the Underlying Index, and the amounts outstanding of qualifying coupon securities are not reduced by any portions that have been stripped. Underlying Index constituents are market capitalization-weighted. The Fund generally invests in all of the securities comprising its Index in proportion to their weightings in the Index.
During the fiscal year ended October 31, 2021, on a market price basis, the Fund returned 6.50%. On a net asset value (“NAV”) basis, the Fund returned 6.46%. During the same time period, the Index returned 6.55%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to fees and operating expenses incurred by the Fund.
For the fiscal year ended October 31, 2021, bonds with maturities between 2 and 3 years contributed most significantly to the Fund’s return, followed by bonds with maturities between 3 and 4 years. No maturities detracted from the Fund’s return.
Positions that contributed most significantly to the Fund’s return for the fiscal year ended October 31, 2021, included Treasury CPI Note, 0.375% coupon, due 07/15/2025 (portfolio average weight of 5.70%) and Treasury CPI Note, 0.63% coupon, due 04/15/2023 (portfolio average weight of 5.9%). No positions detracted from the Fund’s return.
Duration Breakdown (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Maturing in 0-5 Years | 99.88 | |||
Money Market Funds Plus Other Assets Less Liabilities | 0.12 | |||
Top Ten Fund Holdings* (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Security | ||||
U.S. Treasury Inflation—Indexed Notes, 0.63%, 04/15/2023 | 5.94 | |||
U.S. Treasury Inflation—Indexed Notes, 0.63%, 01/15/2026 | 5.91 | |||
U.S. Treasury Inflation—Indexed Notes, 0.38%, 07/15/2025 | 5.65 | |||
U.S. Treasury Inflation—Indexed Notes, 0.63%, 01/15/2024 | 5.61 | |||
U.S. Treasury Inflation—Indexed Notes, 0.25%, 01/15/2025 | 5.57 | |||
U.S. Treasury Inflation—Indexed Notes, 0.13%, 04/15/2022 | 5.56 | |||
U.S. Treasury Inflation—Indexed Notes, 0.38%, 07/15/2023 | 5.56 | |||
U.S. Treasury Inflation—Indexed Notes, 0.13%, 07/15/2024 | 5.52 | |||
U.S. Treasury Inflation—Indexed Notes, 0.13%, 01/15/2023 | 5.51 | |||
U.S. Treasury Inflation—Indexed Notes, 0.13%, 01/15/2022 | 5.49 | |||
Total | 56.32 |
* |
Excluding money market fund holdings. |
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Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP) (continued)
Growth of a $10,000 Investment Since Inception
Fund Performance History as of October 31, 2021
1 Year | 3 Years Average Annualized |
3 Years Cumulative |
Fund Inception | |||||||||||||||||||||
Index | Average Annualized |
Cumulative | ||||||||||||||||||||||
ICE BofA 0-5 Year US Inflation-Linked Treasury IndexSM | 6.55 | % | 5.04 | % | 15.91 | % | 3.79 | % | 16.50 | % | ||||||||||||||
Fund | ||||||||||||||||||||||||
NAV Return | 6.46 | 4.92 | 15.49 | 3.68 | 16.02 | |||||||||||||||||||
Market Price Return | 6.50 | 4.94 | 15.58 | 3.70 | 16.10 |
Fund Inception: September 22, 2017
Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See the current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.07% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.
Performance results for the index stated above are based upon a hypothetical investment in their respective constituent securities. The returns of an index do not represent Fund returns. An investor cannot invest directly in an index. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the hypothetical performance shown. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in the Fund.
Notes Regarding Index and Fund Performance History:
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Average Annualized and Cumulative Inception returns for the Fund and index are based on the inception date of the Fund. |
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PBDM | Management’s Discussion of Fund Performance | |
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM) |
As an index fund, the Invesco PureBetaSM FTSE Developed ex-North America ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the FTSE Developed ex North America Index (the “Index”). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Index, as well as American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”) that represent securities in the Index.
Strictly in accordance with its guidelines and mandated procedures, FTSE International Limited (the “Index Provider”) compiles, maintains and calculates the Index, which is designed to measure the performance of the large- and mid-capitalization segments of equity markets of countries around the world that are classified as developed markets within the country classification definition of the Index Provider, excluding the United States and Canada. The Index Provider defines the large- and mid-capitalization segments as approximately the top 90% of the eligible universe. The Fund generally invests in all of the securities comprising the Index in proportion to their weightings in the Index.
During the fiscal year ended October 31, 2021, on a market price basis, the Fund returned 33.09%. On a net asset value (“NAV”) basis, the Fund returned 33.78%. During the same time period, the Index returned 33.73%. During the fiscal year, the Fund fully replicated the components of the Index; therefore, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to fees and operating expenses incurred by the Fund during the period, all of which were offset by revenue from securities lending.
For the fiscal year ended October 31, 2021, the financials sector contributed most significantly to the Fund’s return, followed by the industrials and consumer discretionary sectors, respectively. No sector detracted from the Fund’s return.
Positions that contributed most significantly to the Fund’s return for the fiscal year ended October 31, 2021, included ASML Holding N.V., an information technology company (portfolio average weight of 1.34%), and LVMH Moet Hennessy Louis Vuitton SE, a consumer discretionary company (portfolio average weight of 0.94%). Positions that detracted most significantly from the Fund’s return included Nintendo Co. Ltd., a communication services company (portfolio average weight of 0.31%), and SoftBank Group Corp., a communications services company (portfolio average weight of 0.57%).
Sector Breakdown (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Financials | 16.61 | |||
Industrials | 16.11 | |||
Consumer Discretionary | 12.54 | |||
Health Care | 11.71 | |||
Information Technology | 11.03 | |||
Consumer Staples | 9.48 | |||
Materials | 7.82 | |||
Communication Services | 4.68 | |||
Utilities | 3.29 | |||
Energy | 3.26 | |||
Real Estate | 3.19 | |||
Money Market Funds Plus Other Assets Less Liabilities | 0.28 | |||
Top Ten Fund Holdings* (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Security | ||||
Nestle S.A. | 1.90 | |||
ASML Holding N.V. | 1.64 | |||
Samsung Electronics Co. Ltd. | 1.43 | |||
Roche Holding AG | 1.37 | |||
Toyota Motor Corp. | 1.10 | |||
LVMH Moet Hennessy Louis Vuitton SE | 0.99 | |||
AstraZeneca PLC | 0.98 | |||
Novartis AG | 0.89 | |||
Novo Nordisk A/S, Class B | 0.88 | |||
SAP SE | 0.82 | |||
Total | 12.00 |
* |
Excluding money market fund holdings. |
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Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM) (continued)
Growth of a $10,000 Investment Since Inception
Fund Performance History as of October 31, 2021
1 Year | 3 Years Average Annualized |
3 Years Cumulative |
Fund Inception | |||||||||||||||||||||
Index | Average Annualized |
Cumulative | ||||||||||||||||||||||
FTSE Developed ex North America Index (Net) | 33.73 | % | 11.81 | % | 39.77 | % | 6.93 | % | 31.66 | % | ||||||||||||||
Fund | ||||||||||||||||||||||||
NAV Return | 33.78 | 11.79 | 39.71 | 6.88 | 31.42 | |||||||||||||||||||
Market Price Return | 33.09 | 11.54 | 38.78 | 6.87 | 31.37 |
Fund Inception: September 22, 2017
Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See the current prospectus for more information. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.07% is expressed as a unitary management fee to cover operating expenses and expenses incurred in connection with managing the portfolio. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.
Performance results for the index stated above are based upon a hypothetical investment in their respective constituent securities. The returns of an index do not represent Fund returns. An investor cannot invest directly in an index. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the hypothetical performance shown. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in the Fund.
Notes Regarding Index and Fund Performance History:
- |
Average Annualized and Cumulative Inception returns for the Fund and index are based on the inception date of the Fund. |
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Net returns reflect reinvested dividends net of withholding taxes. |
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PBEE | Management’s Discussion of Fund Performance | |
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) |
As an index fund, the Invesco PureBetaSM FTSE Emerging Markets ETF (the “Fund”) is passively managed and seeks to track the investment results (before fees and expenses) of the FTSE Emerging Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index, as well as American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”) that represent securities in the Underlying Index.
Strictly in accordance with its guidelines and mandated procedures, FTSE International Limited (the “Index Provider”) compiles, maintains and calculates the Underlying Index, which is designed to measure the performance of the large- and mid-capitalization segments of equity markets of countries around the world that are classified as emerging markets within the country classification definition of the Index Provider. The Index Provider defines the large- and mid-capitalization segments as approximately the top 90% of the eligible universe. The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a “sampling” methodology to seek to achieve its investment objective.
During the fiscal year ended October 31, 2021, on a market price basis, the Fund returned 15.61%. On a net asset value (“NAV”) basis, the Fund returned 17.02%. During the same time period, the Index returned 17.06%. During the fiscal year, the Fund’s performance, on a NAV basis, differed from the return of the Index primarily due to the impact of the fees and expenses that the Fund incurred during the period, partially offset by revenue from securities lending.
For the fiscal year ended October 31, 2021, the financials sector contributed most significantly to the Fund’s return, followed by the information technology and materials sectors, respectively. The consumer discretionary sector detracted most significantly from the Fund’s return, followed by the communications services and real estate sectors, respectively.
Positions that contributed most significantly to the Fund’s return for the fiscal year ended October 31, 2021, included Taiwan Semiconductor Manufacturing Co. Ltd., an information technology company (portfolio average weight of 7.17%), and The Invesco India ETF (portfolio average weight of 4.73%). Positions that detracted most significantly from the Fund’s return included Alibaba Group Holding Ltd., a consumer discretionary company (portfolio average weight of 3.04%) and Tencent Holdings Ltd., a communications services company (portfolio average weight of 6.38%).
Sector Breakdown (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Financials | 23.37 | |||
Information Technology | 15.08 | |||
Consumer Discretionary | 14.82 | |||
Communication Services | 10.22 | |||
Materials | 7.66 | |||
Consumer Staples | 5.63 | |||
Energy | 5.58 | |||
Industrials | 5.22 | |||
Health Care | 3.85 | |||
Utilities | 3.12 | |||
Sector Types Each Less Than 3% | 5.24 | |||
Money Market Funds Plus Other Assets Less Liabilities | 0.21 | |||
Top Ten Fund Holdings* (% of the Fund’s Net
Assets) as of October 31, 2021 |
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Security | ||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 7.08 | |||
Tencent Holdings Ltd. | 5.17 | |||
Invesco India ETF | 4.56 | |||
Alibaba Group Holding Ltd. | 4.17 | |||
iShares MSCI India ETF | 2.78 | |||
Meituan, B Shares | 1.90 | |||
GAIL (India) Ltd., GDR | 1.25 | |||
Reliance Industries Ltd., GDR | 0.97 | |||
China Construction Bank Corp., H Shares | 0.87 | |||
Infosys Ltd., ADR | 0.80 | |||
Total | 29.55 |
* |
Excluding money market fund holdings. |
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Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) (continued)
Growth of a $10,000 Investment Since Inception
Fund Performance History as of October 31, 2021
1 Year | 3 Years Average Annualized |
3 Years Cumulative |
Fund Inception | |||||||||||||||||||||
Index | Average Annualized |
Cumulative | ||||||||||||||||||||||
FTSE Emerging Index (Net) | 17.06 | % | 12.66 | % | 42.98 | % | 6.22 | % | 28.11 | % | ||||||||||||||
Fund | ||||||||||||||||||||||||
NAV Return | 17.02 | 12.30 | 41.62 | 5.99 | 26.97 | |||||||||||||||||||
Market Price Return | 15.61 | 12.05 | 40.69 | 5.42 | 24.18 |
Fund Inception: September 22, 2017
Performance quoted above represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate, and shares of the Fund (“Fund Shares”), when redeemed or sold, may be worth more or less than their original cost. Fund performance reflects any applicable fee waivers and/or expense reimbursements. Had the adviser not waived fees and/or reimbursed expenses currently or in the past, returns would have been lower. See the current prospectus for more information. The adviser has contractually agreed to waive a portion of its management fee through August 31, 2023. According to the Fund’s current prospectus, the Fund’s expense ratio of 0.19% (0.16% after fee waiver) includes the unitary management fee of 0.14% and acquired fund fees and expenses of 0.05%. NAV and Market Price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and Market Price, respectively. The returns shown in the table above do not reflect the deduction of taxes that a shareholder
would pay on Fund distributions or the redemption or sale of Fund Shares. See invesco.com/ETFs to find the most recent month-end performance numbers.
Performance results for the index stated above are based upon a hypothetical investment in their respective constituent securities. The returns of an index do not represent Fund returns. An investor cannot invest directly in an index. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the hypothetical performance shown. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in the Fund.
Notes Regarding Index and Fund Performance History:
- |
Average Annualized and Cumulative Inception returns for the Fund and index are based on the inception date of the Fund. |
- |
Net returns reflect reinvested dividends net of withholding taxes. |
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Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP)
October 31, 2021
Schedule of Investments
Principal Amount |
Value | |||||||
U.S. Treasury Securities-99.88% |
| |||||||
U.S. Treasury Inflation – Indexed Notes-99.88%(a) |
| |||||||
0.13%, 01/15/2022 |
$ | 2,874,966 | $ | 2,901,361 | ||||
0.13%, 04/15/2022 |
2,883,180 | 2,938,107 | ||||||
0.13%, 07/15/2022(b) |
2,808,193 | 2,887,271 | ||||||
0.13%, 01/15/2023 |
2,804,278 | 2,912,259 | ||||||
0.63%, 04/15/2023 |
2,983,117 | 3,137,336 | ||||||
0.38%, 07/15/2023 |
2,774,956 | 2,937,082 | ||||||
0.63%, 01/15/2024 |
2,766,138 | 2,961,884 | ||||||
0.50%, 04/15/2024 |
2,015,679 | 2,162,232 | ||||||
0.13%, 07/15/2024 |
2,720,847 | 2,917,843 | ||||||
0.13%, 10/15/2024 |
2,162,715 | 2,324,430 | ||||||
0.25% - 2.38%, 01/15/2025 |
5,068,327 | 5,637,689 | ||||||
0.13%, 04/15/2025 |
2,173,591 | 2,343,073 | ||||||
0.38%, 07/15/2025 |
2,724,318 | 2,985,570 | ||||||
0.13%, 10/15/2025 |
2,084,727 | 2,266,293 | ||||||
0.63% - 2.00%, 01/15/2026 |
4,403,050 | 4,977,198 | ||||||
0.13%, 04/15/2026(b) |
2,393,195 | 2,606,338 | ||||||
0.13%, 07/15/2026 |
2,426,704 | 2,660,017 | ||||||
0.13%, 10/15/2026 |
1,101,243 | 1,207,065 | ||||||
|
|
|||||||
Total U.S. Treasury Securities (Cost $52,317,559) |
52,763,048 | |||||||
|
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Shares | ||||||||
Money Market Funds-0.11% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(c)(d) |
60,551 | 60,551 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.99% (Cost $52,378,110) |
52,823,599 | |||||||
|
|
Shares | Value | |||||||
Investments Purchased with Cash Collateral from Securities on Loan |
|
|||||||
Money Market Funds-9.74% |
||||||||
Invesco Private Government Fund, |
1,543,304 | $ | 1,543,304 | |||||
Invesco Private Prime Fund, 0.11%(c)(d)(e) |
3,599,602 | 3,601,042 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
5,144,346 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-109.73% |
|
57,967,945 | ||||||
OTHER ASSETS LESS LIABILITIES-(9.73)% |
(5,142,429 | ) | ||||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 52,825,516 | ||||||
|
|
Notes to Schedule of Investments:
(a) |
Principal amount of security and interest payments are adjusted for inflation. See Note 2I. |
(b) |
All or a portion of this security was out on loan at October 31, 2021. |
(c) |
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 fiscal year ended October 31, 2021. |
Value October 31, 2020 |
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 | $ | 12,806 | $ | 1,135,474 | $ | (1,087,729 | ) | $ | - | $ | - | $ | 60,551 | $ | 9 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | - | 2,837,486 | (1,294,182 | ) | - | - | 1,543,304 | 6 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | - | 6,620,789 | (3,019,747 | ) | - | - | 3,601,042 | 71 | * | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 12,806 | $ | 10,593,749 | $ | (5,401,658 | ) | $ | - | $ | - | $ | 5,204,897 | $ | 86 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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.
11 | ||||
|
| |||
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP)–(continued)
October 31, 2021
(d) |
The rate shown is the 7-day SEC standardized yield as of October 31, 2021. |
(e) |
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
12 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)
October 31, 2021
Schedule of Investments
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.72% |
| |||||||
Australia-7.63% |
| |||||||
Adbri Ltd. |
1,701 | $ | 3,807 | |||||
Afterpay Ltd.(a) |
814 | 75,379 | ||||||
AGL Energy Ltd. |
2,348 | 10,088 | ||||||
ALS Ltd. |
1,797 | 17,830 | ||||||
Altium Ltd. |
408 | 11,253 | ||||||
Alumina Ltd. |
9,346 | 13,969 | ||||||
AMP Ltd.(a) |
12,843 | 10,418 | ||||||
Ampol Ltd. |
864 | 19,825 | ||||||
Ansell Ltd. |
480 | 11,360 | ||||||
APA Group |
4,409 | 27,155 | ||||||
Appen Ltd. |
408 | 3,294 | ||||||
Aristocrat Leisure Ltd. |
2,325 | 81,518 | ||||||
ASX Ltd. |
696 | 43,400 | ||||||
Atlas Arteria Ltd. |
3,524 | 16,411 | ||||||
Aurizon Holdings Ltd. |
6,445 | 16,314 | ||||||
AusNet Services Ltd. |
6,829 | 12,669 | ||||||
Australia & New Zealand Banking Group Ltd. |
10,117 | 213,832 | ||||||
Bank of Queensland Ltd.(b) |
2,347 | 15,513 | ||||||
Beach Energy Ltd. |
6,613 | 6,929 | ||||||
Bendigo & Adelaide Bank Ltd. |
1,965 | 13,652 | ||||||
BHP Group Ltd. |
10,506 | 288,655 | ||||||
BHP Group PLC |
7,394 | 196,119 | ||||||
BlueScope Steel Ltd. |
1,869 | 28,946 | ||||||
Boral Ltd.(a) |
1,462 | 7,006 | ||||||
Brambles Ltd. |
5,295 | 39,930 | ||||||
carsales.com Ltd. |
792 | 14,670 | ||||||
Challenger Ltd. |
2,156 | 11,238 | ||||||
Charter Hall Group |
1,725 | 22,454 | ||||||
CIMIC Group Ltd. |
360 | 5,386 | ||||||
Cleanaway Waste Management Ltd. |
5,057 | 10,179 | ||||||
Cochlear Ltd. |
239 | 39,572 | ||||||
Coles Group Ltd. |
4,624 | 59,529 | ||||||
Commonwealth Bank of Australia |
6,134 | 482,287 | ||||||
Computershare Ltd. |
1,965 | 27,688 | ||||||
Crown Resorts Ltd.(a)(b) |
1,317 | 9,852 | ||||||
CSL Ltd. |
1,626 | 366,985 | ||||||
CSR Ltd. |
1,797 | 8,004 | ||||||
Deterra Royalties Ltd. |
1,557 | 4,538 | ||||||
Dexus |
3,930 | 32,086 | ||||||
Domain Holdings Australia Ltd. |
840 | 3,609 | ||||||
Domino’s Pizza Enterprises Ltd. |
216 | 21,977 | ||||||
Downer EDI Ltd. |
2,228 | 10,543 | ||||||
Endeavour Group Ltd. |
4,624 | 23,617 | ||||||
Evolution Mining Ltd. |
5,966 | 16,266 | ||||||
Flight Centre Travel Group Ltd.(a)(b) |
528 | 7,928 | ||||||
Fortescue Metals Group Ltd. |
5,799 | 60,674 | ||||||
Glencore PLC |
48,214 | 241,392 | ||||||
Goodman Group |
6,614 | 108,794 | ||||||
GPT Group (The) |
6,974 | 27,029 | ||||||
Harvey Norman Holdings Ltd.(b) |
2,228 | 8,300 | ||||||
IDP Education Ltd. |
648 | 18,227 | ||||||
IGO Ltd. |
2,299 | 16,646 | ||||||
Iluka Resources Ltd. |
1,557 | 10,993 | ||||||
Incitec Pivot Ltd. |
7,141 | 16,037 | ||||||
Insurance Australia Group Ltd. |
8,650 | 31,186 | ||||||
IOOF Holdings Ltd. |
2,324 | 7,122 | ||||||
JB Hi-Fi Ltd. |
408 | 15,473 |
Shares | Value | |||||||
Australia-(continued) |
||||||||
Lendlease Corp. Ltd. |
2,468 | $ | 19,390 | |||||
Macquarie Group Ltd. |
1,197 | 177,862 | ||||||
Magellan Financial Group Ltd. |
504 | 13,124 | ||||||
Medibank Pvt Ltd. |
10,305 | 25,697 | ||||||
Metcash Ltd.(b) |
3,522 | 10,767 | ||||||
Mineral Resources Ltd. |
504 | 14,608 | ||||||
Mirvac Group |
14,329 | 30,350 | ||||||
National Australia Bank Ltd. |
11,776 | 253,939 | ||||||
Newcrest Mining Ltd. |
2,972 | 55,561 | ||||||
NEXTDC Ltd.(a) |
1,677 | 14,788 | ||||||
Northern Star Resources Ltd. |
4,218 | 29,274 | ||||||
Nufarm Ltd.(a) |
1,197 | 3,911 | ||||||
Oil Search Ltd. |
7,741 | 24,943 | ||||||
Orica Ltd. |
1,509 | 17,148 | ||||||
Origin Energy Ltd. |
6,589 | 24,992 | ||||||
Orora Ltd. |
3,187 | 7,899 | ||||||
OZ Minerals Ltd. |
1,197 | 22,594 | ||||||
Perpetual Ltd. |
168 | 4,752 | ||||||
Platinum Asset Management Ltd. |
1,125 | 2,569 | ||||||
Pro Medicus Ltd.(b) |
145 | 5,803 | ||||||
Qantas Airways Ltd.(a) |
2,685 | 10,789 | ||||||
QBE Insurance Group Ltd. |
5,417 | 48,133 | ||||||
Qube Holdings Ltd. |
5,417 | 12,939 | ||||||
Ramsay Health Care Ltd. |
647 | 34,221 | ||||||
REA Group Ltd.(b) |
191 | 22,974 | ||||||
Reece Ltd. |
982 | 14,670 | ||||||
Rio Tinto Ltd. |
1,365 | 92,570 | ||||||
Rio Tinto PLC |
3,954 | 247,177 | ||||||
Santos Ltd. |
6,447 | 33,800 | ||||||
Scentre Group |
18,931 | 42,942 | ||||||
SEEK Ltd. |
1,293 | 31,757 | ||||||
Seven Group Holdings Ltd. |
480 | 7,762 | ||||||
Shopping Centres Australasia Property Group |
3,953 | 8,254 | ||||||
Sonic Healthcare Ltd. |
1,748 | 52,556 | ||||||
South32 Ltd. |
17,229 | 46,198 | ||||||
Star Entertainment Group Ltd. (The)(a) |
3,092 | 8,500 | ||||||
Stockland |
8,914 | 30,464 | ||||||
Suncorp Group Ltd. |
4,697 | 41,347 | ||||||
Sydney Airport(a) |
4,817 | 29,632 | ||||||
Tabcorp Holdings Ltd. |
7,596 | 28,299 | ||||||
Telstra Corp. Ltd. |
15,192 | 43,589 | ||||||
TPG Telecom Ltd. |
1,365 | 6,920 | ||||||
Transurban Group |
11,095 | 112,002 | ||||||
Treasury Wine Estates Ltd. |
2,708 | 23,431 | ||||||
Vicinity Centres(b) |
14,019 | 18,164 | ||||||
Washington H Soul Pattinson & Co. Ltd. |
336 | 8,197 | ||||||
Wesfarmers Ltd. |
4,122 | 177,248 | ||||||
Westpac Banking Corp |
13,087 | 252,327 | ||||||
Whitehaven Coal Ltd.(a) |
3,212 | 6,297 | ||||||
WiseTech Global Ltd. |
312 | 11,970 | ||||||
Woodside Petroleum Ltd. |
3,500 | 61,147 | ||||||
Woolworths Group Ltd. |
4,218 | 120,643 | ||||||
Worley Ltd. |
1,197 | 9,728 | ||||||
|
|
|||||||
5,382,171 | ||||||||
|
|
|||||||
Austria-0.30% |
||||||||
ams AG(a)(b) |
934 | 18,491 | ||||||
ANDRITZ AG |
241 | 13,660 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
13 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Austria-(continued) |
||||||||
Erste Group Bank AG |
1,031 | $ | 44,265 | |||||
Mondi PLC |
1,796 | 44,929 | ||||||
OMV AG |
526 | 31,897 | ||||||
Raiffeisen Bank International AG |
480 | 14,054 | ||||||
Telekom Austria AG(a) |
504 | 4,363 | ||||||
Verbund AG |
240 | 25,024 | ||||||
voestalpine AG |
432 | 16,418 | ||||||
|
|
|||||||
213,101 | ||||||||
|
|
|||||||
Belgium-0.84% |
||||||||
Ackermans & van Haaren N.V. |
72 | 12,390 | ||||||
Ageas S.A./N.V. |
648 | 31,571 | ||||||
Anheuser-Busch InBev S.A./N.V. |
2,970 | 181,372 | ||||||
D’Ieteren Group |
73 | 12,579 | ||||||
Elia Group S.A./N.V. |
120 | 14,012 | ||||||
Etablissements Franz Colruyt N.V. |
192 | 9,430 | ||||||
Galapagos N.V.(a) |
168 | 8,905 | ||||||
Groupe Bruxelles Lambert S.A. |
383 | 44,434 | ||||||
KBC Group N.V. |
1,006 | 93,787 | ||||||
Proximus SADP |
504 | 9,498 | ||||||
Sofina S.A. |
49 | 21,684 | ||||||
Solvay S.A., Class A |
241 | 28,671 | ||||||
Telenet Group Holding N.V. |
168 | 6,039 | ||||||
UCB S.A. |
432 | 51,543 | ||||||
Umicore S.A. |
744 | 42,688 | ||||||
Warehouses De Pauw C.V.A. |
504 | 22,980 | ||||||
|
|
|||||||
591,583 | ||||||||
|
|
|||||||
Bermuda-0.00% |
||||||||
Brightoil Petroleum Holdings Ltd.(a)(c) |
462 | 0 | ||||||
|
|
|||||||
Brazil-0.04% |
||||||||
Yara International ASA |
598 | 31,161 | ||||||
|
|
|||||||
Cambodia-0.01% |
||||||||
NagaCorp Ltd. |
4,692 | 4,313 | ||||||
|
|
|||||||
Chile-0.04% |
||||||||
Antofagasta PLC(b) |
1,271 | 24,836 | ||||||
|
|
|||||||
China-0.88% |
||||||||
AAC Technologies Holdings, Inc.(b) |
2,307 | 10,068 | ||||||
BeiGene Ltd.(a) |
2,170 | 60,756 | ||||||
BOC Hong Kong Holdings Ltd. |
13,114 | 41,640 | ||||||
Budweiser Brewing Co. APAC Ltd.(b)(d) |
6,398 | 17,642 | ||||||
China Travel International Investment Hong Kong |
9,198 | 1,336 | ||||||
Chow Tai Fook Jewellery Group Ltd. |
5,709 | 11,684 | ||||||
ESR Cayman Ltd.(a)(d) |
6,402 | 20,780 | ||||||
FIH Mobile Ltd.(a) |
11,371 | 1,769 | ||||||
Kerry Logistics Network Ltd.(b) |
2,263 | 5,498 | ||||||
Lee & Man Paper Manufacturing Ltd. |
5,642 | 4,236 | ||||||
Lenovo Group Ltd. |
27,428 | 29,829 | ||||||
MicroPort Scientific Corp. |
1,819 | 8,582 | ||||||
Minth Group Ltd. |
2,329 | 9,311 | ||||||
MMG Ltd.(a) |
9,057 | 4,191 | ||||||
Nexteer Automotive Group Ltd. |
3,389 | 4,182 | ||||||
Prosus N.V. |
3,144 | 277,282 | ||||||
Shangri-La Asia Ltd.(a) |
4,527 | 3,690 | ||||||
Shui On Land Ltd. |
13,144 | 1,943 | ||||||
SITC International Holdings Co. Ltd. |
4,545 | 15,395 | ||||||
Tingyi Cayman Islands Holding Corp.(b) |
6,889 | 12,894 | ||||||
Towngas China Co. Ltd. |
3,488 | 2,399 |
Shares | Value | |||||||
China-(continued) |
||||||||
Uni-President China Holdings Ltd. |
4,548 | $ | 3,882 | |||||
Want Want China Holdings Ltd.(b) |
19,387 | 15,028 | ||||||
Wharf Holdings Ltd. (The)(b) |
4,614 | 16,015 | ||||||
Wilmar International Ltd. |
7,501 | 24,030 | ||||||
Xinyi Glass Holdings Ltd.(b) |
6,912 | 19,503 | ||||||
|
|
|||||||
623,565 | ||||||||
|
|
|||||||
Denmark-2.41% |
||||||||
Ambu A/S, Class B(b) |
624 | 17,793 | ||||||
AP Moller - Maersk A/S, Class A |
15 | 41,115 | ||||||
AP Moller - Maersk A/S, Class B |
19 | 54,960 | ||||||
Carlsberg A/S, Class B |
359 | 59,281 | ||||||
Chr. Hansen Holding A/S |
382 | 30,425 | ||||||
Coloplast A/S, Class B |
480 | 78,328 | ||||||
Danske Bank A/S |
2,397 | 40,607 | ||||||
Demant A/S(a) |
384 | 18,619 | ||||||
DSV A/S |
718 | 167,036 | ||||||
Genmab A/S(a) |
216 | 96,906 | ||||||
GN Store Nord A/S |
478 | 29,037 | ||||||
H Lundbeck A/S |
216 | 6,011 | ||||||
Novo Nordisk A/S, Class B |
5,691 | 623,515 | ||||||
Novozymes A/S, Class B |
719 | 52,927 | ||||||
Orsted A/S(d) |
694 | 98,027 | ||||||
Pandora A/S |
359 | 50,184 | ||||||
Rockwool International A/S, Class B |
24 | 10,976 | ||||||
Royal Unibrew A/S |
169 | 20,990 | ||||||
SimCorp A/S |
144 | 17,414 | ||||||
Tryg A/S |
1,149 | 27,267 | ||||||
Vestas Wind Systems A/S |
3,689 | 159,706 | ||||||
|
|
|||||||
1,701,124 | ||||||||
|
|
|||||||
Finland-1.28% |
||||||||
Elisa OYJ |
528 | 31,883 | ||||||
Fortum OYJ |
1,559 | 46,367 | ||||||
Huhtamaki OYJ |
336 | 14,644 | ||||||
Kesko OYJ, Class B(b) |
1,005 | 32,670 | ||||||
Kojamo OYJ |
720 | 16,106 | ||||||
Kone OYJ, Class B |
1,438 | 98,117 | ||||||
Metso Outotec OYJ |
2,252 | 22,621 | ||||||
Neste OYJ |
1,510 | 84,210 | ||||||
Nokia OYJ(a) |
20,536 | 118,113 | ||||||
Nokian Renkaat OYJ |
504 | 18,897 | ||||||
Nordea Bank Abp |
12,941 | 158,356 | ||||||
Orion OYJ, Class B(b) |
384 | 16,633 | ||||||
Sampo OYJ, Class A |
1,845 | 98,216 | ||||||
Stora Enso OYJ, Class R |
2,108 | 35,080 | ||||||
UPM-Kymmene OYJ |
1,942 | 68,590 | ||||||
Valmet OYJ |
480 | 19,497 | ||||||
Wartsila OYJ Abp |
1,821 | 25,278 | ||||||
|
|
|||||||
905,278 | ||||||||
|
|
|||||||
France-9.55% |
||||||||
Accor S.A.(a) |
671 | 24,002 | ||||||
Adevinta ASA, Class B(a) |
840 | 13,808 | ||||||
Aeroports de Paris(a)(b) |
96 | 12,765 | ||||||
Air Liquide S.A. |
1,657 | 276,589 | ||||||
Airbus SE(a) |
2,014 | 257,776 | ||||||
ALD S.A.(d) |
288 | 4,286 | ||||||
Alstom S.A. |
1,078 | 38,399 | ||||||
Amundi S.A.(d) |
216 | 19,260 | ||||||
Arkema S.A. |
240 | 32,829 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
14 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
France-(continued) |
||||||||
Atos SE |
336 | $ | 17,490 | |||||
AXA S.A. |
7,021 | 204,426 | ||||||
BioMerieux |
145 | 18,467 | ||||||
BNP Paribas S.A. |
3,846 | 257,701 | ||||||
Bollore S.A. |
3,689 | 21,388 | ||||||
Bouygues S.A. |
768 | 31,107 | ||||||
Bureau Veritas S.A. |
1,029 | 32,700 | ||||||
Capgemini SE |
574 | 133,716 | ||||||
Carrefour S.A. |
2,109 | 38,208 | ||||||
Cie de Saint-Gobain |
1,726 | 118,966 | ||||||
Cie Generale des Etablissements Michelin S.C.A. |
646 | 101,447 | ||||||
Cie Plastic Omnium S.A. |
216 | 5,989 | ||||||
CNP Assurances |
552 | 13,836 | ||||||
Covivio |
191 | 16,533 | ||||||
Credit Agricole S.A. |
4,505 | 67,983 | ||||||
Danone S.A. |
2,182 | 142,291 | ||||||
Dassault Aviation S.A. |
73 | 7,624 | ||||||
Dassault Systemes SE |
2,420 | 141,092 | ||||||
Edenred |
888 | 48,063 | ||||||
Eiffage S.A. |
265 | 27,281 | ||||||
Electricite de France S.A. |
1,917 | 28,241 | ||||||
ENGIE S.A. |
6,040 | 85,947 | ||||||
EssilorLuxottica S.A. |
1,048 | 216,970 | ||||||
Eurazeo SE |
145 | 13,600 | ||||||
Faurecia SE |
432 | 22,522 | ||||||
Gecina S.A. |
191 | 26,756 | ||||||
Getlink SE |
1,701 | 26,151 | ||||||
Hermes International |
110 | 174,461 | ||||||
ICADE |
120 | 9,415 | ||||||
Imerys S.A. |
144 | 6,246 | ||||||
Ipsen S.A. |
120 | 12,415 | ||||||
JCDecaux S.A.(a) |
264 | 6,892 | ||||||
Kering S.A. |
264 | 198,034 | ||||||
Klepierre S.A. |
648 | 15,418 | ||||||
La Francaise des Jeux SAEM(d) |
312 | 16,212 | ||||||
Legrand S.A. |
960 | 104,697 | ||||||
L’Oreal S.A. |
864 | 394,897 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
894 | 700,619 | ||||||
Neoen S.A.(a)(d) |
97 | 4,468 | ||||||
Orange S.A. |
6,997 | 76,398 | ||||||
Orpea S.A. |
168 | 17,537 | ||||||
Pernod Ricard S.A. |
740 | 170,160 | ||||||
Publicis Groupe S.A. |
792 | 53,104 | ||||||
Remy Cointreau S.A.(b) |
95 | 19,195 | ||||||
Renault S.A.(a) |
672 | 24,155 | ||||||
Rexel S.A. |
1,125 | 22,341 | ||||||
Rubis S.C.A. |
336 | 10,767 | ||||||
Safran S.A. |
1,270 | 170,545 | ||||||
Sanofi |
3,894 | 389,482 | ||||||
Sartorius Stedim Biotech |
82 | 45,189 | ||||||
Schneider Electric SE |
1,918 | 330,499 | ||||||
SCOR SE |
576 | 19,397 | ||||||
SEB S.A. |
119 | 18,633 | ||||||
Societe Generale S.A. |
2,828 | 94,368 | ||||||
Sodexo S.A.(a) |
312 | 30,329 | ||||||
SOITEC(a) |
73 | 19,413 | ||||||
Suez S.A. |
1,389 | 31,642 | ||||||
Teleperformance |
215 | 89,845 | ||||||
Thales S.A. |
360 | 33,187 | ||||||
TotalEnergies SE |
8,677 | 435,498 |
Shares | Value | |||||||
France-(continued) |
||||||||
Ubisoft Entertainment S.A.(a)(b) |
336 | $ | 17,587 | |||||
Unibail-Rodamco-Westfield(a) |
502 | 35,908 | ||||||
Valeo |
888 | 26,030 | ||||||
Veolia Environnement S.A. |
2,228 | 72,787 | ||||||
Vinci S.A. |
1,798 | 192,198 | ||||||
Vivendi SE |
2,709 | 34,908 | ||||||
Wendel SE |
96 | 12,787 | ||||||
Worldline S.A.(a)(d) |
887 | 51,714 | ||||||
|
|
|||||||
6,735,586 | ||||||||
|
|
|||||||
Germany-7.99% |
||||||||
1&1 AG |
168 | 4,895 | ||||||
adidas AG |
695 | 227,855 | ||||||
Allianz SE |
1,487 | 346,145 | ||||||
Aroundtown S.A. |
4,384 | 30,491 | ||||||
Auto1 Group SE(a)(d) |
240 | 9,443 | ||||||
BASF SE |
3,332 | 240,149 | ||||||
Bayer AG |
3,496 | 196,907 | ||||||
Bayerische Motoren Werke AG |
1,174 | 118,525 | ||||||
Bayerische Motoren Werke AG, Preference |
||||||||
Shares |
216 | 18,398 | ||||||
Bechtle AG |
288 | 21,597 | ||||||
Beiersdorf AG |
360 | 38,286 | ||||||
Brenntag SE |
574 | 54,629 | ||||||
Carl Zeiss Meditec AG, BR |
121 | 24,358 | ||||||
Commerzbank AG(a) |
3,905 | 28,542 | ||||||
Continental AG(a) |
406 | 47,699 | ||||||
Covestro AG(d) |
670 | 42,955 | ||||||
CTS Eventim AG & Co. KGaA(a) |
216 | 15,713 | ||||||
Daimler AG |
2,991 | 296,775 | ||||||
Deutsche Bank AG(a) |
7,453 | 96,134 | ||||||
Deutsche Boerse AG |
671 | 111,508 | ||||||
Deutsche Lufthansa AG(a) |
2,181 | 14,417 | ||||||
Deutsche Post AG |
3,483 | 215,723 | ||||||
Deutsche Telekom AG |
11,499 | 213,954 | ||||||
Deutsche Wohnen SE |
160 | 8,201 | ||||||
DWS Group GmbH & Co. KGaA(d) |
120 | 5,197 | ||||||
E.ON SE |
7,885 | 100,064 | ||||||
Evonik Industries AG |
696 | 22,569 | ||||||
Evotec SE(a) |
550 | 26,637 | ||||||
Fielmann AG |
96 | 6,332 | ||||||
Fraport AG Frankfurt Airport Services Worldwide(a) |
120 | 8,568 | ||||||
Fresenius Medical Care AG & Co. KGaA |
742 | 49,340 | ||||||
Fresenius SE & Co. KGaA |
1,485 | 67,478 | ||||||
Fuchs Petrolub SE |
120 | 4,419 | ||||||
Fuchs Petrolub SE, Preference Shares |
264 | 12,661 | ||||||
GEA Group AG |
600 | 29,572 | ||||||
Hannover Rueck SE |
216 | 39,495 | ||||||
HeidelbergCement AG |
550 | 41,461 | ||||||
Hella GmbH & Co. KGaA |
168 | 11,665 | ||||||
HelloFresh SE(a) |
599 | 48,524 | ||||||
Henkel AG & Co. KGaA |
360 | 30,038 | ||||||
Henkel AG & Co. KGaA, Preference Shares |
647 | 57,938 | ||||||
HOCHTIEF AG |
72 | 5,558 | ||||||
Infineon Technologies AG |
4,745 | 221,815 | ||||||
KION Group AG |
288 | 31,462 | ||||||
Knorr-Bremse AG |
240 | 25,313 | ||||||
LANXESS AG |
312 | 21,035 | ||||||
LEG Immobilien SE |
264 | 39,304 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
15 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Germany-(continued) |
||||||||
Merck KGaA |
455 | $ | 107,521 | |||||
METRO AG |
480 | 6,071 | ||||||
MTU Aero Engines AG |
192 | 42,739 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class R |
504 | 149,430 | ||||||
Nemetschek SE |
192 | 22,041 | ||||||
Porsche Automobil Holding SE, Preference Shares |
552 | 57,377 | ||||||
ProSiebenSat.1 Media SE |
576 | 9,655 | ||||||
Puma SE |
360 | 44,702 | ||||||
Rational AG |
1 | 995 | ||||||
Rheinmetall AG |
167 | 16,203 | ||||||
RWE AG |
2,300 | 88,554 | ||||||
SAP SE |
3,978 | 576,916 | ||||||
Sartorius AG |
1 | 615 | ||||||
Sartorius AG, Preference Shares |
84 | 54,476 | ||||||
Scout24 SE(d) |
312 | 21,736 | ||||||
Siemens AG |
2,688 | 436,368 | ||||||
Siemens Energy AG(a) |
1,558 | 44,750 | ||||||
Siemens Healthineers AG(d) |
1,007 | 66,961 | ||||||
Symrise AG |
456 | 63,087 | ||||||
Talanx AG |
192 | 9,243 | ||||||
TeamViewer AG(a)(d) |
576 | 8,599 | ||||||
Telefonica Deutschland Holding AG |
2,492 | 6,497 | ||||||
thyssenkrupp AG(a) |
1,725 | 17,950 | ||||||
Traton SE |
192 | 4,955 | ||||||
TUI AG(a)(b) |
2,683 | 9,021 | ||||||
Uniper SE |
313 | 13,840 | ||||||
United Internet AG |
384 | 14,167 | ||||||
Vantage Towers AG |
241 | 8,294 | ||||||
Varta AG(b) |
48 | 7,388 | ||||||
Vitesco Technologies Group AG(a) |
72 | 4,133 | ||||||
Volkswagen AG |
119 | 38,670 | ||||||
Volkswagen AG, Preference Shares |
670 | 150,280 | ||||||
Vonovia SE |
2,062 | 125,183 | ||||||
Wacker Chemie AG |
48 | 8,663 | ||||||
Zalando SE(a)(d) |
791 | 74,677 | ||||||
|
|
|||||||
5,641,501 | ||||||||
|
|
|||||||
Hong Kong-2.41% |
||||||||
AIA Group Ltd. |
43,426 | 490,416 | ||||||
ASM Pacific Technology Ltd. |
1,141 | 12,328 | ||||||
Bank of East Asia Ltd. (The) |
4,566 | 7,513 | ||||||
Cafe de Coral Holdings Ltd. |
2,159 | 3,941 | ||||||
Cathay Pacific Airways Ltd.(a) |
3,377 | 3,113 | ||||||
Champion REIT(b) |
7,931 | 4,170 | ||||||
CK Asset Holdings Ltd. |
7,388 | 45,635 | ||||||
CK Hutchison Holdings Ltd. |
9,705 | 65,311 | ||||||
CK Infrastructure Holdings Ltd. |
2,296 | 13,843 | ||||||
CLP Holdings Ltd. |
5,739 | 56,180 | ||||||
Dah Sing Banking Group Ltd. |
1,374 | 1,318 | ||||||
Dah Sing Financial Holdings Ltd. |
469 | 1,462 | ||||||
Dairy Farm International Holdings Ltd. |
1,149 | 4,102 | ||||||
Guotai Junan International Holdings Ltd. |
9,111 | 1,323 | ||||||
Haitong International Securities Group Ltd. |
9,069 | 2,087 | ||||||
Hang Lung Group Ltd. |
3,416 | 8,001 | ||||||
Hang Lung Properties Ltd. |
6,912 | 16,047 | ||||||
Hang Seng Bank Ltd.(b) |
2,626 | 49,961 | ||||||
Henderson Land Development Co. Ltd.(b) |
4,584 | 19,210 | ||||||
Hong Kong & China Gas Co. Ltd. (The) |
39,892 | 62,050 |
Shares | Value | |||||||
Hong Kong-(continued) |
||||||||
Hong Kong Exchanges & Clearing Ltd. |
4,526 | $ | 273,920 | |||||
Hongkong Land Holdings Ltd. |
4,217 | 23,236 | ||||||
Huabao International Holdings Ltd. |
3,425 | 6,437 | ||||||
Hutchison Port Holdings Trust, Class U |
18,738 | 4,029 | ||||||
Hutchison Telecommunications Hong Kong Holdings Ltd. |
4,614 | 735 | ||||||
Hysan Development Co. Ltd. |
2,296 | 7,984 | ||||||
Jardine Matheson Holdings Ltd. |
744 | 43,100 | ||||||
Johnson Electric Holdings Ltd., H Shares |
1,162 | 2,581 | ||||||
Kerry Properties Ltd. |
2,284 | 6,445 | ||||||
Lifestyle International Holdings Ltd.(a) |
1,713 | 898 | ||||||
Link REIT |
7,536 | 66,844 | ||||||
Man Wah Holdings Ltd. |
4,101 | 6,379 | ||||||
Mapletree North Asia Commercial Trust(d) |
7,741 | 5,855 | ||||||
Melco International Development Ltd.(a)(b) |
3,380 | 4,414 | ||||||
MTR Corp. Ltd. |
5,147 | 28,054 | ||||||
New World Development Co. Ltd. |
5,656 | 24,539 | ||||||
NWS Holdings Ltd. |
5,665 | 5,637 | ||||||
PCCW Ltd. |
15,985 | 8,240 | ||||||
Power Assets Holdings Ltd. |
5,123 | 31,249 | ||||||
Shun Tak Holdings Ltd.(a) |
6,883 | 1,885 | ||||||
Sino Land Co. Ltd.(b) |
11,416 | 14,998 | ||||||
Sun Hung Kai Properties Ltd. |
5,139 | 68,374 | ||||||
Swire Pacific Ltd., Class A |
1,740 | 10,949 | ||||||
Swire Pacific Ltd., Class B |
2,940 | 3,092 | ||||||
Swire Properties Ltd. |
4,103 | 10,997 | ||||||
Techtronic Industries Co. Ltd. |
4,562 | 93,890 | ||||||
United Energy Group Ltd. |
27,446 | 2,434 | ||||||
Vinda International Holdings Ltd.(b) |
1,117 | 3,080 | ||||||
Vitasoy International Holdings Ltd.(b) |
2,362 | 5,684 | ||||||
VTech Holdings Ltd.(b) |
575 | 4,424 | ||||||
WH Group Ltd. |
30,789 | 21,610 | ||||||
Wharf Real Estate Investment Co. Ltd.(b) |
5,738 | 32,382 | ||||||
Yue Yuen Industrial Holdings Ltd.(a) |
2,844 | 6,062 | ||||||
|
|
|||||||
1,698,448 | ||||||||
|
|
|||||||
Indonesia-0.01% |
||||||||
First Pacific Co. Ltd. |
9,111 | 3,642 | ||||||
Golden Agri-Resources Ltd. |
23,005 | 4,521 | ||||||
|
|
|||||||
8,163 | ||||||||
|
|
|||||||
Ireland-0.65% |
||||||||
AIB Group PLC(a) |
2,877 | 7,804 | ||||||
CRH PLC |
2,853 | 137,111 | ||||||
Flutter Entertainment PLC(a) |
600 | 113,457 | ||||||
Glanbia PLC |
719 | 11,757 | ||||||
Kerry Group PLC, Class A |
552 | 74,165 | ||||||
Kingspan Group PLC |
551 | 63,535 | ||||||
Smurfit Kappa Group PLC |
936 | 49,204 | ||||||
|
|
|||||||
457,033 | ||||||||
|
|
|||||||
Israel-0.59% |
||||||||
Airport City Ltd.(a) |
264 | 5,041 | ||||||
Alony Hetz Properties & Investments Ltd. |
384 | 6,275 | ||||||
Amot Investments Ltd. |
504 | 3,849 | ||||||
Ashtrom Group Ltd. |
143 | 3,348 | ||||||
Azrieli Group Ltd. |
144 | 13,475 | ||||||
Bank Hapoalim BM |
4,314 | 42,500 | ||||||
Bank Leumi Le-Israel BM |
5,271 | 50,375 | ||||||
Bezeq The Israeli Telecommunication Corp. Ltd.(a) |
7,621 | 9,562 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
16 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Israel-(continued) |
||||||||
Big Shopping Centers Ltd. |
25 | $ | 3,752 | |||||
Elbit Systems Ltd. |
95 | 14,987 | ||||||
Electra Ltd. |
1 | 659 | ||||||
Energix-Renewable Energies Ltd. |
672 | 3,161 | ||||||
Enlight Renewable Energy Ltd.(a) |
3,284 | 8,114 | ||||||
Fattal Holdings 1998 Ltd.(a) |
2 | 215 | ||||||
First International Bank of Israel Ltd. |
192 | 7,700 | ||||||
Gav-Yam Lands Corp. Ltd. |
359 | 4,278 | ||||||
Gazit-Globe Ltd., (Acquired 09/19/2017 - 10/26/2021; Cost $2,490)(e) |
312 | 2,535 | ||||||
Harel Insurance Investments & Financial Services Ltd. |
408 | 4,561 | ||||||
ICL Group Ltd. |
2,588 | 22,176 | ||||||
Israel Corp. Ltd. (The)(a) |
2 | 738 | ||||||
Israel Discount Bank Ltd., Class A(a) |
4,361 | 26,358 | ||||||
Maytronics Ltd. |
167 | 3,950 | ||||||
Melisron Ltd.(a)(b) |
72 | 6,096 | ||||||
Mivne Real Estate KD Ltd. |
2,516 | 9,181 | ||||||
Mizrahi Tefahot Bank Ltd. |
480 | 17,471 | ||||||
Nice Ltd.(a) |
214 | 60,346 | ||||||
Nova Ltd.(a) |
97 | 10,294 | ||||||
OPC Energy Ltd.(a) |
264 | 2,758 | ||||||
Paz Oil Co. Ltd.(a) |
25 | 3,185 | ||||||
Phoenix Holdings Ltd. (The) |
456 | 5,759 | ||||||
Sapiens International Corp. N.V. |
96 | 3,321 | ||||||
Shapir Engineering and Industry Ltd. |
408 | 3,342 | ||||||
Shikun & Binui Ltd.(a) |
766 | 4,564 | ||||||
Shufersal Ltd. |
408 | 3,381 | ||||||
Strauss Group Ltd. |
144 | 4,239 | ||||||
Teva Pharmaceutical Industries Ltd.(a) |
3,594 | 31,764 | ||||||
Tower Semiconductor Ltd.(a) |
384 | 12,492 | ||||||
|
|
|||||||
415,802 | ||||||||
|
|
|||||||
Italy-2.06% |
||||||||
A2A S.p.A. |
5,774 | 12,148 | ||||||
Amplifon S.p.A. |
456 | 23,193 | ||||||
Assicurazioni Generali S.p.A. |
4,674 | 101,960 | ||||||
Atlantia S.p.A.(a) |
1,821 | 35,203 | ||||||
Banca Mediolanum S.p.A. |
936 | 9,430 | ||||||
Buzzi Unicem S.p.A. |
360 | 8,403 | ||||||
Davide Campari-Milano N.V. |
1,798 | 25,551 | ||||||
De Longhi S.p.A. |
263 | 10,287 | ||||||
DiaSorin S.p.A. |
73 | 16,503 | ||||||
Enel S.p.A. |
27,684 | 231,822 | ||||||
Eni S.p.A. |
9,106 | 130,712 | ||||||
Ferrari N.V. |
423 | 100,351 | ||||||
FinecoBank Banca Fineco S.p.A.(a) |
2,228 | 42,582 | ||||||
Hera S.p.A. |
2,876 | 11,772 | ||||||
Infrastrutture Wireless Italiane S.p.A.(d) |
1,293 | 14,299 | ||||||
Interpump Group S.p.A. |
288 | 21,247 | ||||||
Intesa Sanpaolo S.p.A. |
60,532 | 172,150 | ||||||
Italgas S.p.A. |
1,821 | 11,569 | ||||||
Leonardo S.p.A.(a) |
1,461 | 10,716 | ||||||
Mediobanca Banca di Credito Finanziario S.p.A.(a) |
2,539 | 30,308 | ||||||
Moncler S.p.A. |
790 | 56,792 | ||||||
Nexi S.p.A.(a)(d) |
2,134 | 37,105 | ||||||
Pirelli & C S.p.A.(d) |
1,749 | 10,752 | ||||||
Poste Italiane S.p.A.(d) |
1,701 | 24,291 | ||||||
PRADA S.p.A. |
1,943 | 12,189 |
Shares | Value | |||||||
Italy-(continued) |
||||||||
Prysmian S.p.A. |
959 | $ | 36,291 | |||||
Recordati Industria Chimica e Farmaceutica S.p.A. |
360 | 22,547 | ||||||
Reply S.p.A. |
73 | 14,167 | ||||||
Snam S.p.A. |
8,170 | 46,300 | ||||||
Telecom Italia S.p.A. |
39,779 | 14,183 | ||||||
Telecom Italia S.p.A., RSP |
22,572 | 8,581 | ||||||
Terna Rete Elettrica Nazionale S.p.A. |
5,177 | 38,595 | ||||||
UniCredit S.p.A. |
7,909 | 104,560 | ||||||
UnipolSai Assicurazioni S.p.A. |
1,557 | 4,512 | ||||||
|
|
|||||||
1,451,071 | ||||||||
|
|
|||||||
Japan-22.89% |
||||||||
ABC-Mart, Inc. |
96 | 4,588 | ||||||
Acom Co. Ltd. |
1,461 | 4,856 | ||||||
Activia Properties, Inc. |
2 | 8,191 | ||||||
Advance Residence Investment Corp. |
1 | 3,280 | ||||||
Advantest Corp. |
718 | 58,750 | ||||||
Aeon Co. Ltd. |
2,563 | 58,846 | ||||||
AEON Financial Service Co. Ltd. |
432 | 5,463 | ||||||
Aeon Mall Co. Ltd. |
456 | 6,647 | ||||||
AEON REIT Investment Corp. |
1 | 1,351 | ||||||
AGC, Inc. |
672 | 33,416 | ||||||
Aica Kogyo Co. Ltd. |
192 | 5,868 | ||||||
Ain Holdings, Inc. |
96 | 5,649 | ||||||
Air Water, Inc.(b) |
576 | 8,800 | ||||||
Aisin Corp. |
624 | 22,793 | ||||||
Ajinomoto Co., Inc. |
1,774 | 52,991 | ||||||
Alfresa Holdings Corp. |
672 | 9,430 | ||||||
Alps Alpine Co. Ltd. |
720 | 7,009 | ||||||
Amada Co. Ltd. |
1,126 | 11,080 | ||||||
Amano Corp. |
240 | 5,912 | ||||||
ANA Holdings, Inc.(a) |
432 | 10,051 | ||||||
Anritsu Corp.(b) |
504 | 8,332 | ||||||
Aozora Bank Ltd. |
432 | 9,873 | ||||||
Ariake Japan Co. Ltd. |
72 | 4,673 | ||||||
As One Corp. |
48 | 6,550 | ||||||
Asahi Group Holdings Ltd. |
1,533 | 69,333 | ||||||
Asahi Intecc Co. Ltd. |
696 | 18,306 | ||||||
Asahi Kasei Corp. |
4,504 | 47,262 | ||||||
Asics Corp. |
623 | 15,473 | ||||||
ASKUL Corp. |
144 | 1,952 | ||||||
Astellas Pharma, Inc. |
6,735 | 113,230 | ||||||
Azbil Corp. |
480 | 20,417 | ||||||
Bandai Namco Holdings, Inc. |
718 | 54,701 | ||||||
Bank of Kyoto Ltd. (The)(b) |
264 | 11,854 | ||||||
BayCurrent Consulting, Inc. |
48 | 19,743 | ||||||
Benefit One, Inc. |
216 | 10,892 | ||||||
Benesse Holdings, Inc. |
264 | 6,020 | ||||||
Bic Camera, Inc. |
576 | 4,956 | ||||||
Bridgestone Corp. |
2,086 | 91,819 | ||||||
Brother Industries Ltd. |
862 | 16,616 | ||||||
Calbee, Inc. |
288 | 7,413 | ||||||
Canon Marketing Japan, Inc. |
168 | 3,318 | ||||||
Canon, Inc.(b) |
3,619 | 81,187 | ||||||
Capcom Co. Ltd. |
672 | 18,034 | ||||||
Casio Computer Co. Ltd. |
768 | 10,817 | ||||||
Central Japan Railway Co. |
670 | 99,303 | ||||||
Chiba Bank Ltd. (The) |
2,206 | 13,659 | ||||||
Chubu Electric Power Co., Inc. |
2,540 | 26,263 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
17 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Japan-(continued) |
||||||||
Chugai Pharmaceutical Co. Ltd. |
2,371 | $ | 88,311 | |||||
Chugoku Bank Ltd. (The) |
648 | 4,694 | ||||||
Chugoku Electric Power Co., Inc. (The) |
1,125 | 9,324 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. |
552 | 7,571 | ||||||
COMSYS Holdings Corp. |
407 | 10,066 | ||||||
Concordia Financial Group Ltd. |
4,169 | 16,563 | ||||||
Cosmo Energy Holdings Co. Ltd. |
240 | 4,911 | ||||||
Cosmos Pharmaceutical Corp. |
48 | 7,312 | ||||||
Credit Saison Co. Ltd. |
600 | 7,319 | ||||||
CyberAgent, Inc. |
1,391 | 23,178 | ||||||
Dai Nippon Printing Co. Ltd. |
982 | 24,200 | ||||||
Daicel Corp. |
936 | 7,010 | ||||||
Daido Steel Co. Ltd. |
144 | 5,512 | ||||||
Daifuku Co. Ltd. |
358 | 32,809 | ||||||
Dai-ichi Life Holdings, Inc. |
3,787 | 79,759 | ||||||
Daiichi Sankyo Co. Ltd. |
6,853 | 172,309 | ||||||
Daiichikosho Co. Ltd. |
144 | 5,216 | ||||||
Daikin Industries Ltd. |
959 | 209,336 | ||||||
Daio Paper Corp. |
287 | 5,031 | ||||||
Daito Trust Construction Co. Ltd. |
239 | 29,596 | ||||||
Daiwa House Industry Co. Ltd. |
2,325 | 76,484 | ||||||
Daiwa House REIT Investment Corp. |
8 | 22,942 | ||||||
Daiwa Office Investment Corp. |
1 | 6,446 | ||||||
Daiwa Securities Group, Inc. |
5,441 | 30,477 | ||||||
DeNA Co. Ltd. |
313 | 5,778 | ||||||
Denka Co. Ltd. |
312 | 10,206 | ||||||
Denso Corp. |
1,654 | 119,279 | ||||||
Dentsu Group, Inc. |
790 | 28,891 | ||||||
DIC Corp. |
312 | 8,250 | ||||||
Disco Corp. |
96 | 25,763 | ||||||
DMG Mori Co. Ltd. |
384 | 6,584 | ||||||
Dowa Holdings Co. Ltd. |
168 | 6,991 | ||||||
East Japan Railway Co |
1,317 | 81,867 | ||||||
Ebara Corp. |
336 | 18,270 | ||||||
Eisai Co. Ltd. |
959 | 67,511 | ||||||
Elecom Co. Ltd. |
167 | 2,548 | ||||||
Electric Power Development Co. Ltd. |
624 | 8,220 | ||||||
ENEOS Holdings, Inc. |
10,879 | 43,850 | ||||||
EXEO Group, Inc. |
336 | 7,744 | ||||||
Ezaki Glico Co. Ltd. |
192 | 6,954 | ||||||
Fancl Corp. |
240 | 7,241 | ||||||
FANUC Corp. |
695 | 135,983 | ||||||
Fast Retailing Co. Ltd. |
180 | 119,200 | ||||||
Food & Life Cos. Ltd. |
384 | 16,586 | ||||||
FP Corp. |
167 | 5,661 | ||||||
Fuji Electric Co. Ltd. |
432 | 21,027 | ||||||
Fuji Kyuko Co. Ltd. |
1 | 40 | ||||||
Fuji Media Holdings, Inc. |
168 | 1,742 | ||||||
Fuji Oil Holdings, Inc. |
168 | 3,938 | ||||||
FUJIFILM Holdings Corp. |
1,293 | 99,800 | ||||||
Fujitsu General Ltd. |
216 | 5,297 | ||||||
Fujitsu Ltd. |
656 | 112,905 | ||||||
Fukuoka Financial Group, Inc. |
552 | 9,910 | ||||||
Fukuyama Transporting Co. Ltd. |
120 | 4,767 | ||||||
Furukawa Electric Co. Ltd. |
240 | 5,235 | ||||||
Fuyo General Lease Co. Ltd. |
72 | 4,666 | ||||||
GLP J-REIT |
15 | 24,455 | ||||||
GMO internet, Inc. |
216 | 5,939 | ||||||
GMO Payment Gateway, Inc. |
144 | 18,236 | ||||||
GOLDWIN, Inc. |
121 | 7,290 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
GS Yuasa Corp. |
288 | $ | 6,249 | |||||
GungHo Online Entertainment, Inc. |
120 | 2,246 | ||||||
H.U. Group Holdings, Inc. |
192 | 4,723 | ||||||
Hachijuni Bank Ltd. (The) |
1,581 | 5,283 | ||||||
Hakuhodo DY Holdings, Inc. |
863 | 14,062 | ||||||
Hamamatsu Photonics K.K. |
456 | 26,954 | ||||||
Hankyu Hanshin Holdings, Inc. |
791 | 24,453 | ||||||
Haseko Corp. |
935 | 12,144 | ||||||
Heiwa Corp. |
192 | 3,415 | ||||||
Hikari Tsushin, Inc. |
72 | 11,082 | ||||||
Hino Motors Ltd. |
1,029 | 9,710 | ||||||
Hirogin Holdings, Inc. |
1,125 | 6,186 | ||||||
Hirose Electric Co. Ltd. |
120 | 19,985 | ||||||
Hisamitsu Pharmaceutical Co., Inc. |
264 | 8,960 | ||||||
Hitachi Construction Machinery Co. Ltd. |
408 | 12,971 | ||||||
Hitachi Ltd. |
3,356 | 192,898 | ||||||
Hitachi Metals Ltd.(a) |
693 | 13,109 | ||||||
Hitachi Transport System Ltd. |
119 | 4,675 | ||||||
Honda Motor Co. Ltd. |
6,229 | 182,950 | ||||||
Horiba Ltd. |
144 | 9,396 | ||||||
Hoshizaki Corp. |
192 | 16,098 | ||||||
House Foods Group, Inc. |
264 | 7,559 | ||||||
Hoya Corp. |
1,295 | 189,948 | ||||||
Hulic Co. Ltd. |
1,365 | 13,084 | ||||||
Ibiden Co. Ltd. |
384 | 22,934 | ||||||
Ichigo, Inc. |
768 | 2,290 | ||||||
Idemitsu Kosan Co. Ltd. |
840 | 22,948 | ||||||
IHI Corp. |
456 | 10,614 | ||||||
Iida Group Holdings Co. Ltd. |
528 | 12,979 | ||||||
Industrial & Infrastructure Fund Investment Corp. |
1 | 1,829 | ||||||
Information Services International-Dentsu Ltd. |
73 | 2,545 | ||||||
INFRONEER Holdings, Inc. |
504 | 4,173 | ||||||
Inpex Corp. |
3,308 | 27,619 | ||||||
Internet Initiative Japan, Inc. |
192 | 6,676 | ||||||
IR Japan Holdings Ltd. |
25 | 2,304 | ||||||
Isetan Mitsukoshi Holdings Ltd. |
1,270 | 9,244 | ||||||
Isuzu Motors Ltd. |
1,917 | 25,706 | ||||||
Ito En Ltd. |
193 | 12,830 | ||||||
ITOCHU Corp. |
4,935 | 140,314 | ||||||
Itochu Techno-Solutions Corp. |
358 | 11,271 | ||||||
Itoham Yonekyu Holdings, Inc. |
504 | 3,063 | ||||||
Iwatani Corp. |
169 | 9,930 | ||||||
Iyo Bank Ltd. (The) |
1,053 | 5,144 | ||||||
Izumi Co. Ltd. |
144 | 4,351 | ||||||
J. Front Retailing Co. Ltd. |
936 | 8,627 | ||||||
Japan Airlines Co. Ltd.(a) |
456 | 9,802 | ||||||
Japan Airport Terminal Co. Ltd.(a) |
168 | 8,295 | ||||||
Japan Aviation Electronics Industry Ltd. |
168 | 2,774 | ||||||
Japan Exchange Group, Inc. |
1,918 | 45,307 | ||||||
Japan Hotel REIT Investment Corp. |
2 | 1,207 | ||||||
Japan Logistics Fund, Inc. |
3 | 8,959 | ||||||
Japan Metropolitan Fund Investment Corp. |
24 | 21,995 | ||||||
Japan Post Bank Co. Ltd. |
1,485 | 11,578 | ||||||
Japan Post Holdings Co. Ltd. |
8,156 | 62,587 | ||||||
Japan Post Insurance Co. Ltd. |
720 | 11,682 | ||||||
Japan Prime Realty Investment Corp. |
3 | 10,984 | ||||||
Japan Real Estate Investment Corp. |
4 | 24,486 | ||||||
Japan Tobacco, Inc. |
4,313 | 84,558 | ||||||
JCR Pharmaceuticals Co. Ltd. |
192 | 4,713 | ||||||
Jeol Ltd. |
145 | 10,936 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
18 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Japan-(continued) |
||||||||
JFE Holdings, Inc. |
1,869 | $ | 28,570 | |||||
JGC Holdings Corp. |
816 | 7,629 | ||||||
JSR Corp. |
648 | 23,357 | ||||||
JTEKT Corp. |
864 | 7,600 | ||||||
JustSystems Corp. |
120 | 6,167 | ||||||
Kadokawa Corp. |
145 | 7,668 | ||||||
Kagome Co. Ltd. |
288 | 7,299 | ||||||
Kajima Corp. |
1,605 | 19,706 | ||||||
Kakaku.com, Inc. |
478 | 15,783 | ||||||
Kaken Pharmaceutical Co. Ltd. |
120 | 4,725 | ||||||
Kamigumi Co. Ltd. |
384 | 7,702 | ||||||
Kandenko Co. Ltd. |
384 | 2,970 | ||||||
Kaneka Corp. |
216 | 8,269 | ||||||
Kansai Electric Power Co., Inc. (The) |
2,637 | 24,237 | ||||||
Kansai Paint Co. Ltd. |
696 | 16,072 | ||||||
Kao Corp. |
1,678 | 94,639 | ||||||
Kawasaki Heavy Industries Ltd. |
552 | 11,163 | ||||||
Kawasaki Kisen Kaisha Ltd.(a) |
289 | 13,889 | ||||||
KDDI Corp. |
6,111 | 189,078 | ||||||
Keihan Holdings Co. Ltd. |
360 | 9,434 | ||||||
Keikyu Corp. |
936 | 10,524 | ||||||
Keio Corp. |
430 | 21,646 | ||||||
Keisei Electric Railway Co. Ltd. |
503 | 16,123 | ||||||
Kenedix Office Investment Corp. |
1 | 6,323 | ||||||
Kewpie Corp. |
383 | 8,381 | ||||||
Keyence Corp. |
648 | 389,340 | ||||||
Kikkoman Corp. |
670 | 54,763 | ||||||
Kinden Corp. |
454 | 7,430 | ||||||
Kintetsu Group Holdings Co. Ltd.(a) |
672 | 21,069 | ||||||
Kirin Holdings Co. Ltd.(b) |
2,780 | 48,298 | ||||||
Kobayashi Pharmaceutical Co. Ltd.(b) |
216 | 17,257 | ||||||
Kobe Bussan Co. Ltd. |
167 | 5,734 | ||||||
Kobe Steel Ltd. |
1,149 | 6,751 | ||||||
Koei Tecmo Holdings Co. Ltd. |
287 | 13,290 | ||||||
Koito Manufacturing Co. Ltd. |
408 | 23,043 | ||||||
KOKUYO Co. Ltd. |
312 | 4,728 | ||||||
Komatsu Ltd. |
3,331 | 86,660 | ||||||
Konami Holdings Corp. |
336 | 18,446 | ||||||
Konica Minolta, Inc. |
1,749 | 8,620 | ||||||
Kose Corp. |
96 | 11,105 | ||||||
Kotobuki Spirits Co. Ltd. |
72 | 4,799 | ||||||
K’s Holdings Corp. |
624 | 6,425 | ||||||
Kubota Corp. |
3,955 | 84,025 | ||||||
Kuraray Co. Ltd. |
1,247 | 11,264 | ||||||
Kurita Water Industries Ltd. |
406 | 19,940 | ||||||
Kusuri no Aoki Holdings Co. Ltd. |
48 | 3,187 | ||||||
Kyocera Corp. |
1,125 | 65,660 | ||||||
Kyowa Kirin Co. Ltd. |
910 | 29,848 | ||||||
Kyudenko Corp. |
144 | 4,559 | ||||||
Kyushu Electric Power Co., Inc. |
1,773 | 12,486 | ||||||
Kyushu Financial Group, Inc. |
1,485 | 4,988 | ||||||
Kyushu Railway Co. |
600 | 13,397 | ||||||
LaSalle Logiport REIT |
1 | 1,663 | ||||||
Lasertec Corp. |
265 | 58,171 | ||||||
Lawson, Inc. |
168 | 8,118 | ||||||
Lintec Corp. |
192 | 4,280 | ||||||
Lion Corp. |
911 | 15,140 | ||||||
Lixil Corp. |
958 | 24,566 | ||||||
M3, Inc. |
1,534 | 90,244 | ||||||
Mabuchi Motor Co. Ltd. |
192 | 6,601 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
Makita Corp. |
887 | $ | 40,941 | |||||
Mani, Inc. |
216 | 3,675 | ||||||
Marubeni Corp. |
5,702 | 48,066 | ||||||
Marui Group Co. Ltd. |
742 | 14,505 | ||||||
Maruichi Steel Tube Ltd. |
240 | 5,441 | ||||||
Maruwa Unyu Kikan Co. Ltd. |
167 | 2,332 | ||||||
Matsui Securities Co. Ltd. |
384 | 2,751 | ||||||
MatsukiyoCocokara & Co. |
288 | 12,705 | ||||||
Mazda Motor Corp.(a) |
2,084 | 18,624 | ||||||
Mebuki Financial Group, Inc. |
3,451 | 7,052 | ||||||
Medipal Holdings Corp. |
527 | 9,498 | ||||||
MEIJI Holdings Co. Ltd. |
480 | 30,267 | ||||||
Menicon Co. Ltd. |
169 | 6,344 | ||||||
MINEBEA MITSUMI, Inc. |
1,485 | 37,442 | ||||||
MISUMI Group, Inc. |
1,007 | 42,037 | ||||||
Mitsubishi Chemical Holdings Corp. |
4,626 | 38,245 | ||||||
Mitsubishi Corp. |
4,360 | 138,113 | ||||||
Mitsubishi Electric Corp. |
7,188 | 96,134 | ||||||
Mitsubishi Estate Co. Ltd. |
4,145 | 62,816 | ||||||
Mitsubishi Gas Chemical Co., Inc. |
648 | 13,031 | ||||||
Mitsubishi HC Capital, Inc. |
2,371 | 11,852 | ||||||
Mitsubishi Heavy Industries Ltd. |
1,053 | 26,864 | ||||||
Mitsubishi Logistics Corp. |
217 | 6,052 | ||||||
Mitsubishi Materials Corp. |
480 | 9,286 | ||||||
Mitsubishi Motors Corp.(a) |
2,420 | 7,704 | ||||||
Mitsubishi Shokuhin Co. Ltd. |
48 | 1,231 | ||||||
Mitsubishi UFJ Financial Group, Inc. |
45,121 | 246,330 | ||||||
Mitsui & Co. Ltd. |
5,799 | 131,822 | ||||||
Mitsui Chemicals, Inc. |
646 | 19,149 | ||||||
Mitsui Fudosan Co. Ltd. |
3,354 | 76,434 | ||||||
Mitsui Fudosan Logistics Park, Inc. |
2 | 10,629 | ||||||
Mitsui Mining & Smelting Co. Ltd. |
216 | 6,175 | ||||||
Mitsui OSK Lines Ltd. |
408 | 25,620 | ||||||
Miura Co. Ltd. |
359 | 13,743 | ||||||
Mizuho Financial Group, Inc. |
9,227 | 121,786 | ||||||
MonotaRO Co. Ltd. |
864 | 19,549 | ||||||
Mori Hills REIT Investment Corp. |
1 | 1,354 | ||||||
Morinaga & Co. Ltd. |
144 | 5,077 | ||||||
Morinaga Milk Industry Co. Ltd. |
144 | 8,436 | ||||||
MS&AD Insurance Group Holdings, Inc. |
1,630 | 52,692 | ||||||
Murata Manufacturing Co. Ltd. |
2,062 | 156,479 | ||||||
Nabtesco Corp. |
408 | 13,203 | ||||||
Nagase & Co. Ltd. |
408 | 6,877 | ||||||
Nagoya Railroad Co. Ltd.(a) |
696 | 11,463 | ||||||
Nankai Electric Railway Co. Ltd. |
408 | 8,069 | ||||||
NEC Corp. |
958 | 48,898 | ||||||
NEC Networks & System Integration Corp. |
264 | 4,235 | ||||||
NET One Systems Co. Ltd. |
312 | 10,193 | ||||||
Nexon Co. Ltd. |
1,487 | 25,182 | ||||||
NGK Insulators Ltd. |
934 | 15,498 | ||||||
NGK Spark Plug Co. Ltd. |
720 | 11,442 | ||||||
NH Foods Ltd. |
359 | 12,609 | ||||||
NHK Spring Co. Ltd. |
624 | 4,690 | ||||||
Nichirei Corp. |
408 | 9,947 | ||||||
Nidec Corp. |
1,678 | 184,981 | ||||||
Nifco, Inc. |
289 | 9,188 | ||||||
Nihon Kohden Corp. |
264 | 8,393 | ||||||
Nihon M&A Center Holdings, Inc. |
936 | 28,607 | ||||||
Nihon Unisys Ltd. |
240 | 6,714 | ||||||
Nikon Corp. |
1,174 | 12,860 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
19 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Japan-(continued) |
||||||||
Nintendo Co. Ltd. |
384 | $ | 169,058 | |||||
Nippo Corp. |
192 | 6,777 | ||||||
Nippon Accommodations Fund, Inc. |
2 | 11,138 | ||||||
Nippon Building Fund, Inc. |
5 | 32,449 | ||||||
Nippon Electric Glass Co. Ltd. |
312 | 7,941 | ||||||
Nippon Express Co. Ltd. |
241 | 15,049 | ||||||
Nippon Kayaku Co. Ltd. |
648 | 6,814 | ||||||
Nippon Paint Holdings Co. Ltd.(b) |
2,901 | 31,014 | ||||||
Nippon Prologis REIT, Inc. |
8 | 26,696 | ||||||
Nippon Sanso Holdings Corp.(b) |
526 | 12,386 | ||||||
Nippon Shinyaku Co. Ltd. |
192 | 15,340 | ||||||
Nippon Shokubai Co. Ltd. |
120 | 6,251 | ||||||
Nippon Steel Corp. |
2,971 | 52,085 | ||||||
Nippon Telegraph & Telephone Corp. |
4,408 | 123,242 | ||||||
Nippon Television Holdings, Inc. |
96 | 1,036 | ||||||
Nippon Yusen K.K. |
576 | 41,321 | ||||||
Nipro Corp. |
456 | 4,623 | ||||||
Nishi-Nippon Railroad Co. Ltd. |
288 | 7,065 | ||||||
Nissan Chemical Corp. |
480 | 26,647 | ||||||
Nissan Motor Co. Ltd.(a) |
7,021 | 35,553 | ||||||
Nisshin Seifun Group, Inc. |
934 | 14,736 | ||||||
Nissin Foods Holdings Co. Ltd. |
241 | 18,409 | ||||||
Nitori Holdings Co. Ltd. |
264 | 48,285 | ||||||
Nitto Denko Corp. |
528 | 41,119 | ||||||
Noevir Holdings Co. Ltd. |
48 | 2,341 | ||||||
NOF Corp. |
240 | 12,018 | ||||||
NOK Corp. |
432 | 4,978 | ||||||
Nomura Holdings, Inc. |
11,094 | 53,512 | ||||||
Nomura Real Estate Holdings, Inc. |
407 | 9,884 | ||||||
Nomura Real Estate Master Fund, Inc. |
16 | 23,953 | ||||||
Nomura Research Institute Ltd. |
935 | 37,228 | ||||||
NS Solutions Corp. |
120 | 4,020 | ||||||
NSK Ltd. |
1,605 | 10,768 | ||||||
NTT Data Corp. |
2,299 | 46,030 | ||||||
Obayashi Corp. |
2,444 | 20,534 | ||||||
OBIC Business Consultants Co. Ltd. |
48 | 2,362 | ||||||
Obic Co. Ltd. |
240 | 44,180 | ||||||
Odakyu Electric Railway Co. Ltd. |
1,125 | 24,301 | ||||||
Oji Holdings Corp. |
3,210 | 15,878 | ||||||
OKUMA Corp. |
97 | 4,611 | ||||||
Olympus Corp. |
3,713 | 80,121 | ||||||
Omron Corp. |
672 | 64,062 | ||||||
Ono Pharmaceutical Co. Ltd. |
1,558 | 32,595 | ||||||
Open House Co. Ltd. |
240 | 15,197 | ||||||
Oracle Corp. |
120 | 11,313 | ||||||
Orient Corp. |
2,204 | 3,015 | ||||||
Oriental Land Co. Ltd. |
672 | 105,728 | ||||||
ORIX Corp. |
4,434 | 87,688 | ||||||
ORIX JREIT, Inc. |
10 | 16,567 | ||||||
Osaka Gas Co. Ltd. |
1,437 | 23,138 | ||||||
OSG Corp. |
264 | 4,385 | ||||||
Otsuka Corp.(b) |
382 | 18,761 | ||||||
Otsuka Holdings Co. Ltd.(b) |
1,533 | 60,419 | ||||||
Paltac Corp. |
120 | 5,304 | ||||||
Pan Pacific International Holdings Corp. |
1,535 | 32,120 | ||||||
Panasonic Corp. |
7,763 | 94,804 | ||||||
Park24 Co. Ltd.(a) |
408 | 6,230 | ||||||
Penta-Ocean Construction Co. Ltd. |
1,077 | 7,396 | ||||||
PeptiDream, Inc.(a) |
312 | 7,533 | ||||||
Persol Holdings Co. Ltd. |
600 | 16,049 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
Pigeon Corp. |
408 | $ | 9,436 | |||||
Pola Orbis Holdings, Inc. |
288 | 6,138 | ||||||
Rakus Co. Ltd. |
358 | 11,287 | ||||||
Rakuten Group, Inc. |
2,947 | 32,307 | ||||||
Recruit Holdings Co. Ltd. |
4,772 | 316,892 | ||||||
Relo Group, Inc. |
384 | 7,938 | ||||||
Renesas Electronics Corp.(a) |
3,498 | 43,010 | ||||||
Rengo Co. Ltd. |
792 | 5,994 | ||||||
RENOVA, Inc.(a) |
167 | 7,323 | ||||||
Resona Holdings, Inc. |
7,909 | 29,687 | ||||||
Resorttrust, Inc. |
240 | 4,241 | ||||||
Ricoh Co. Ltd. |
2,348 | 22,775 | ||||||
Rinnai Corp. |
121 | 12,373 | ||||||
Rohm Co. Ltd. |
289 | 26,308 | ||||||
Rohto Pharmaceutical Co. Ltd. |
360 | 10,971 | ||||||
Ryohin Keikaku Co. Ltd. |
864 | 16,958 | ||||||
Sankyo Co. Ltd. |
167 | 4,041 | ||||||
Sankyu, Inc. |
192 | 8,638 | ||||||
Sansan, Inc.(a) |
72 | 8,303 | ||||||
Santen Pharmaceutical Co. Ltd. |
1,294 | 18,169 | ||||||
Sanwa Holdings Corp. |
744 | 8,639 | ||||||
Sapporo Holdings Ltd. |
240 | 5,199 | ||||||
Sawai Group Holdings Co. Ltd. |
144 | 6,340 | ||||||
SBI Holdings, Inc. |
864 | 22,292 | ||||||
SCREEN Holdings Co. Ltd. |
144 | 13,349 | ||||||
SCSK Corp. |
456 | 9,198 | ||||||
Secom Co. Ltd. |
696 | 47,238 | ||||||
Sega Sammy Holdings, Inc. |
744 | 10,531 | ||||||
Seibu Holdings, Inc.(a) |
744 | 8,104 | ||||||
Seiko Epson Corp. |
983 | 17,466 | ||||||
Seino Holdings Co. Ltd. |
552 | 6,666 | ||||||
Sekisui Chemical Co. Ltd. |
1,246 | 20,380 | ||||||
Sekisui House Ltd. |
2,084 | 43,160 | ||||||
Sekisui House Reit, Inc.(b) |
2 | 1,512 | ||||||
Seven & i Holdings Co. Ltd. |
2,803 | 117,553 | ||||||
Seven Bank Ltd. |
2,540 | 5,368 | ||||||
SG Holdings Co. Ltd. |
1,534 | 38,342 | ||||||
Sharp Corp. |
552 | 6,492 | ||||||
SHIFT, Inc.(a) |
47 | 10,779 | ||||||
Shikoku Electric Power Co., Inc. |
576 | 3,748 | ||||||
Shimadzu Corp. |
1,005 | 40,676 | ||||||
Shimamura Co. Ltd. |
72 | 6,074 | ||||||
Shimano, Inc. |
287 | 79,487 | ||||||
Shimizu Corp. |
1,965 | 14,355 | ||||||
Shin-Etsu Chemical Co. Ltd. |
1,439 | 255,619 | ||||||
Shinko Electric Industries Co. Ltd. |
240 | 9,598 | ||||||
Shinsei Bank Ltd. |
624 | 10,316 | ||||||
Shionogi & Co. Ltd. |
983 | 63,855 | ||||||
Ship Healthcare Holdings, Inc. |
288 | 7,544 | ||||||
Shiseido Co. Ltd. |
1,414 | 93,936 | ||||||
Shizuoka Bank Ltd. (The) |
1,821 | 14,645 | ||||||
SHO-BOND Holdings Co. Ltd. |
168 | 7,013 | ||||||
Shochiku Co. Ltd.(a) |
25 | 2,717 | ||||||
Showa Denko K.K. |
552 | 13,850 | ||||||
Skylark Holdings Co. Ltd.(a) |
720 | 9,743 | ||||||
SMC Corp. |
200 | 119,167 | ||||||
SMS Co. Ltd. |
168 | 6,512 | ||||||
Softbank Corp. |
9,897 | 134,926 | ||||||
SoftBank Group Corp. |
4,782 | 258,507 | ||||||
Sohgo Security Services Co. Ltd. |
240 | 10,229 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
20 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Japan-(continued) |
||||||||
Sojitz Corp. |
792 | $ | 13,023 | |||||
Sompo Holdings, Inc. |
1,198 | 51,986 | ||||||
Sony Group Corp. |
4,444 | 512,117 | ||||||
Sotetsu Holdings, Inc. |
288 | 5,552 | ||||||
Square Enix Holdings Co. Ltd. |
288 | 15,736 | ||||||
Stanley Electric Co. Ltd. |
527 | 13,246 | ||||||
Subaru Corp. |
2,206 | 43,104 | ||||||
Sugi Holdings Co. Ltd. |
120 | 8,588 | ||||||
SUMCO Corp. |
816 | 15,486 | ||||||
Sumitomo Bakelite Co. Ltd. |
120 | 5,378 | ||||||
Sumitomo Chemical Co. Ltd. |
5,487 | 26,948 | ||||||
Sumitomo Corp. |
4,074 | 57,774 | ||||||
Sumitomo Dainippon Pharma Co. Ltd. |
624 | 8,794 | ||||||
Sumitomo Electric Industries Ltd. |
2,732 | 36,095 | ||||||
Sumitomo Forestry Co. Ltd. |
504 | 9,592 | ||||||
Sumitomo Heavy Industries Ltd. |
432 | 11,101 | ||||||
Sumitomo Metal Mining Co. Ltd. |
862 | 33,437 | ||||||
Sumitomo Mitsui Financial Group, Inc. |
4,721 | 154,061 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. |
1,319 | 43,425 | ||||||
Sumitomo Realty & Development Co. Ltd. |
1,438 | 51,832 | ||||||
Sumitomo Rubber Industries Ltd. |
672 | 8,257 | ||||||
Sundrug Co. Ltd. |
240 | 7,020 | ||||||
Suntory Beverage & Food Ltd. |
455 | 17,617 | ||||||
Suzuken Co. Ltd. |
288 | 7,981 | ||||||
Suzuki Motor Corp. |
1,605 | 71,435 | ||||||
Sysmex Corp. |
694 | 85,635 | ||||||
T&D Holdings, Inc. |
1,940 | 24,874 | ||||||
Taiheiyo Cement Corp. |
430 | 9,092 | ||||||
Taisei Corp. |
552 | 17,283 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd. |
168 | 8,988 | ||||||
Taiyo Yuden Co. Ltd. |
432 | 21,785 | ||||||
Takara Bio, Inc. |
168 | 4,364 | ||||||
Takara Holdings, Inc. |
672 | 9,176 | ||||||
Takashimaya Co. Ltd. |
552 | 5,098 | ||||||
Takeda Pharmaceutical Co. Ltd. |
5,582 | 156,800 | ||||||
TBS Holdings, Inc. |
144 | 2,273 | ||||||
TDK Corp. |
1,317 | 47,702 | ||||||
TechnoPro Holdings, Inc. |
384 | 12,208 | ||||||
Teijin Ltd. |
672 | 9,011 | ||||||
Terumo Corp. |
2,396 | 105,443 | ||||||
THK Co. Ltd. |
432 | 9,256 | ||||||
TIS, Inc. |
864 | 23,452 | ||||||
Tobu Railway Co. Ltd. |
742 | 18,422 | ||||||
Toda Corp. |
888 | 5,584 | ||||||
Toho Co. Ltd. |
407 | 19,096 | ||||||
Toho Gas Co. Ltd. |
336 | 9,930 | ||||||
Tohoku Electric Power Co., Inc. |
1,724 | 11,173 | ||||||
Tokai Carbon Co. Ltd. |
744 | 9,709 | ||||||
Tokai Rika Co. Ltd. |
192 | 2,677 | ||||||
Tokio Marine Holdings, Inc. |
2,348 | 123,511 | ||||||
Tokuyama Corp. |
264 | 4,512 | ||||||
Tokyo Century Corp. |
217 | 12,370 | ||||||
Tokyo Electric Power Co. Holdings, Inc.(a) |
5,656 | 15,625 | ||||||
Tokyo Electron Ltd. |
528 | 244,725 | ||||||
Tokyo Gas Co. Ltd. |
1,534 | 26,624 | ||||||
Tokyo Ohka Kogyo Co. Ltd. |
143 | 9,042 | ||||||
Tokyo Tatemono Co. Ltd. |
719 | 10,530 | ||||||
Tokyu Corp. |
1,774 | 24,924 | ||||||
Tokyu Fudosan Holdings Corp. |
2,300 | 13,293 | ||||||
Toppan, Inc. |
1,005 | 16,156 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
Toray Industries, Inc. |
5,511 | $ | 34,262 | |||||
Toshiba Corp. |
1,581 | 68,079 | ||||||
Toshiba TEC Corp. |
96 | 3,763 | ||||||
Tosoh Corp. |
1,007 | 16,947 | ||||||
TOTO Ltd. |
527 | 25,420 | ||||||
Toyo Seikan Group Holdings Ltd. |
528 | 6,242 | ||||||
Toyo Suisan Kaisha Ltd. |
336 | 14,468 | ||||||
Toyo Tire Corp. |
384 | 6,358 | ||||||
Toyoda Gosei Co. Ltd. |
288 | 5,862 | ||||||
Toyota Boshoku Corp. |
240 | 4,593 | ||||||
Toyota Industries Corp. |
576 | 48,798 | ||||||
Toyota Motor Corp. |
44,233 | 778,369 | ||||||
Toyota Tsusho Corp. |
814 | 35,194 | ||||||
Trend Micro, Inc. |
430 | 24,248 | ||||||
TS Tech Co. Ltd. |
384 | 5,122 | ||||||
Tsumura & Co. |
240 | 7,451 | ||||||
Tsuruha Holdings, Inc. |
121 | 14,909 | ||||||
TV Asahi Holdings Corp. |
72 | 1,089 | ||||||
Ube Industries Ltd. |
359 | 6,675 | ||||||
Ulvac, Inc. |
169 | 9,426 | ||||||
Unicharm Corp. |
1,414 | 56,944 | ||||||
United Urban Investment Corp. |
1 | 1,245 | ||||||
Ushio, Inc. |
407 | 7,257 | ||||||
USS Co. Ltd. |
767 | 12,310 | ||||||
Welcia Holdings Co. Ltd. |
360 | 13,434 | ||||||
West Japan Railway Co. |
839 | 39,461 | ||||||
Yakult Honsha Co. Ltd. |
456 | 22,955 | ||||||
Yamada Holdings Co. Ltd. |
2,828 | 10,789 | ||||||
Yamaguchi Financial Group, Inc. |
864 | 4,819 | ||||||
Yamaha Corp. |
574 | 36,144 | ||||||
Yamaha Motor Co. Ltd. |
1,077 | 29,894 | ||||||
Yamato Holdings Co. Ltd. |
1,221 | 29,951 | ||||||
Yamato Kogyo Co. Ltd. |
120 | 4,015 | ||||||
Yamazaki Baking Co. Ltd. |
480 | 7,283 | ||||||
Yaoko Co. Ltd. |
72 | 4,275 | ||||||
Yaskawa Electric Corp. |
935 | 40,344 | ||||||
Yokogawa Electric Corp. |
912 | 18,172 | ||||||
Yokohama Rubber Co. Ltd. (The) |
408 | 6,877 | ||||||
Z Holdings Corp. |
9,705 | 60,090 | ||||||
Zenkoku Hosho Co. Ltd. |
192 | 9,261 | ||||||
Zensho Holdings Co. Ltd. |
360 | 8,297 | ||||||
Zeon Corp. |
552 | 6,535 | ||||||
ZOZO, Inc. |
406 | 12,978 | ||||||
|
|
|||||||
16,152,046 | ||||||||
|
|
|||||||
Jordan-0.03% |
||||||||
Hikma Pharmaceuticals PLC |
623 | 20,555 | ||||||
|
|
|||||||
Luxembourg-0.21% |
||||||||
ArcelorMittal S.A. |
2,323 | 78,834 | ||||||
Eurofins Scientific SE |
454 | 53,559 | ||||||
L’Occitane International S.A. |
1,716 | 6,121 | ||||||
RTL Group S.A. |
144 | 8,312 | ||||||
|
|
|||||||
146,826 | ||||||||
|
|
|||||||
Macau-0.11% |
||||||||
Galaxy Entertainment Group Ltd.(a) |
7,968 | 43,123 | ||||||
Macau Legend Development Ltd.(a) |
6,799 | 690 | ||||||
MGM China Holdings Ltd.(a)(b) |
2,756 | 2,030 | ||||||
Sands China Ltd.(a) |
8,681 | 19,842 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
21 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Macau-(continued) |
||||||||
SJM Holdings Ltd.(a) |
6,892 | $ | 5,147 | |||||
Wynn Macau Ltd.(a)(b) |
5,495 | 4,945 | ||||||
|
|
|||||||
75,777 | ||||||||
|
|
|||||||
Mexico-0.01% |
||||||||
Fresnillo PLC |
672 | 7,951 | ||||||
|
|
|||||||
Netherlands-4.29% |
||||||||
Aalberts N.V. |
358 | 19,824 | ||||||
ABN AMRO Bank N.V., CVA(d) |
1,557 | 22,930 | ||||||
Adyen N.V.(a)(d) |
104 | 314,184 | ||||||
Aegon N.V. |
6,589 | 33,436 | ||||||
Akzo Nobel N.V. |
672 | 77,316 | ||||||
Argenx SE(a) |
191 | 57,226 | ||||||
ASM International N.V. |
168 | 76,095 | ||||||
ASML Holding N.V. |
1,426 | 1,155,993 | ||||||
ASR Nederland N.V. |
504 | 23,599 | ||||||
BE Semiconductor Industries N.V. |
263 | 24,032 | ||||||
CTP N.V.(d) |
216 | 4,599 | ||||||
Euronext N.V.(d) |
289 | 32,575 | ||||||
EXOR N.V. |
384 | 36,217 | ||||||
GrandVision N.V.(a)(d) |
168 | 5,522 | ||||||
Heineken Holding N.V. |
384 | 35,640 | ||||||
Heineken N.V.(b) |
863 | 95,696 | ||||||
IMCD N.V. |
215 | 47,784 | ||||||
ING Groep N.V. |
14,235 | 216,132 | ||||||
JDE Peet’s N.V. |
311 | 9,066 | ||||||
Koninklijke Ahold Delhaize N.V. |
3,547 | 115,467 | ||||||
Koninklijke DSM N.V. |
600 | 131,267 | ||||||
Koninklijke KPN N.V. |
12,076 | 36,125 | ||||||
Koninklijke Philips N.V. |
3,307 | 155,856 | ||||||
Koninklijke Vopak N.V. |
240 | 9,554 | ||||||
NN Group N.V. |
1,101 | 59,018 | ||||||
Randstad N.V. |
408 | 29,368 | ||||||
Signify N.V. |
456 | 22,085 | ||||||
Universal Music Group N.V.(b) |
2,709 | 78,735 | ||||||
Wolters Kluwer N.V. |
958 | 100,488 | ||||||
|
|
|||||||
3,025,829 | ||||||||
|
|
|||||||
New Zealand-0.39% |
||||||||
a2 Milk Co. Ltd. (The)(a)(b) |
2,732 | 12,845 | ||||||
Air New Zealand Ltd.(a) |
1,893 | 2,262 | ||||||
Auckland International Airport Ltd.(a) |
4,409 | 25,211 | ||||||
Contact Energy Ltd. |
2,684 | 15,712 | ||||||
Fisher & Paykel Healthcare Corp. Ltd.(b) |
2,084 | 46,547 | ||||||
Fletcher Building Ltd. |
3,068 | 15,743 | ||||||
Infratil Ltd. |
1,822 | 10,796 | ||||||
Kiwi Property Group Ltd., (Acquired 09/19/2017 - 10/26/2021; Cost $4,884)(e) |
5,870 | 4,915 | ||||||
Mainfreight Ltd. |
288 | 18,529 | ||||||
Mercury NZ Ltd. |
2,540 | 11,152 | ||||||
Meridian Energy Ltd. |
4,601 | 16,431 | ||||||
Ryman Healthcare Ltd. |
1,533 | 15,853 | ||||||
SKYCITY Entertainment Group Ltd. |
2,492 | 5,707 | ||||||
Spark New Zealand Ltd. |
6,877 | 22,467 | ||||||
Xero Ltd.(a) |
455 | 51,095 | ||||||
|
|
|||||||
275,265 | ||||||||
|
|
|||||||
Norway-0.63% |
||||||||
Aker ASA, Class A |
96 | 8,818 | ||||||
Aker BP ASA |
408 | 15,622 | ||||||
DNB Bank ASA |
3,738 | 88,730 |
Shares | Value | |||||||
Norway-(continued) |
||||||||
Equinor ASA |
3,500 | $ | 88,438 | |||||
Gjensidige Forsikring ASA |
600 | 14,902 | ||||||
Leroy Seafood Group ASA |
936 | 8,498 | ||||||
Mowi ASA |
1,581 | 45,714 | ||||||
Norsk Hydro ASA |
4,865 | 35,588 | ||||||
Orkla ASA |
2,779 | 26,991 | ||||||
Salmar ASA |
192 | 14,594 | ||||||
Schibsted ASA, Class A |
288 | 14,833 | ||||||
Schibsted ASA, Class B |
360 | 16,231 | ||||||
Telenor ASA |
2,323 | 36,619 | ||||||
TOMRA Systems ASA |
432 | 27,842 | ||||||
|
|
|||||||
443,420 | ||||||||
|
|
|||||||
Poland-0.31% |
||||||||
Allegro.eu S.A.(a)(d) |
1,414 | 16,003 | ||||||
Bank Polska Kasa Opieki S.A. |
576 | 19,035 | ||||||
CD Projekt S.A.(b) |
240 | 10,468 | ||||||
Cyfrowy Polsat S.A. |
1,005 | 8,995 | ||||||
Dino Polska S.A.(a)(d) |
168 | 15,019 | ||||||
InPost S.A.(a) |
670 | 9,565 | ||||||
KGHM Polska Miedz S.A. |
504 | 19,393 | ||||||
LPP S.A. |
4 | 14,378 | ||||||
Polski Koncern Naftowy ORLEN S.A. |
1,173 | 25,321 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo S.A. |
6,493 | 9,798 | ||||||
Powszechna Kasa Oszczednosci Bank Polski S.A.(a) |
3,114 | 38,118 | ||||||
Powszechny Zaklad Ubezpieczen S.A. |
2,108 | 21,098 | ||||||
Santander Bank Polska S.A. |
97 | 9,015 | ||||||
|
|
|||||||
216,206 | ||||||||
|
|
|||||||
Portugal-0.14% |
||||||||
EDP - Energias de Portugal S.A. |
10,327 | 58,368 | ||||||
Galp Energia SGPS S.A. |
1,917 | 19,948 | ||||||
Jeronimo Martins SGPS S.A. |
888 | 20,142 | ||||||
|
|
|||||||
98,458 | ||||||||
|
|
|||||||
Russia-0.09% |
||||||||
Coca-Cola HBC AG |
719 | 24,965 | ||||||
Evraz PLC |
2,110 | 17,978 | ||||||
Polymetal International PLC |
1,295 | 24,053 | ||||||
|
|
|||||||
66,996 | ||||||||
|
|
|||||||
Saudi Arabia-0.12% |
||||||||
Delivery Hero SE(a)(d) |
694 | 86,377 | ||||||
|
|
|||||||
Singapore-1.07% |
||||||||
Ascendas REIT |
12,196 | 27,946 | ||||||
Ascott Residence Trust |
6,637 | 5,069 | ||||||
BOC Aviation Ltd.(d) |
799 | 7,010 | ||||||
CapitaLand Integrated Commercial Trust |
16,966 | 27,050 | ||||||
CapitaLand Investment Ltd.(a) |
9,706 | 24,760 | ||||||
City Developments Ltd. |
1,797 | 9,755 | ||||||
ComfortDelGro Corp. Ltd. |
7,909 | 9,149 | ||||||
DBS Group Holdings Ltd. |
6,542 | 152,962 | ||||||
Frasers Logistics & Commercial Trust(d) |
9,730 | 10,967 | ||||||
Genting Singapore Ltd. |
21,518 | 12,446 | ||||||
Jardine Cycle & Carriage Ltd. |
384 | 6,407 | ||||||
Kenon Holdings Ltd. |
49 | 1,962 | ||||||
Keppel Corp. Ltd. |
5,223 | 20,838 | ||||||
Keppel DC REIT |
4,410 | 7,816 | ||||||
Keppel REIT |
7,309 | 6,125 | ||||||
Mapletree Commercial Trust |
7,093 | 11,467 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
22 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Singapore-(continued) |
||||||||
Mapletree Industrial Trust |
6,517 | $ | 13,290 | |||||
Mapletree Logistics Trust |
10,545 | 15,796 | ||||||
NetLink NBN Trust(d) |
9,730 | 7,360 | ||||||
Olam International Ltd. |
2,324 | 2,930 | ||||||
Oversea-Chinese Banking Corp. Ltd. |
12,651 | 110,702 | ||||||
SATS Ltd.(a) |
2,444 | 7,594 | ||||||
Sembcorp Industries Ltd. |
3,500 | 5,217 | ||||||
Sembcorp Marine Ltd.(a) |
65,060 | 3,811 | ||||||
SIA Engineering Co. Ltd.(a) |
888 | 1,429 | ||||||
Singapore Airlines Ltd.(a) |
4,409 | 17,002 | ||||||
Singapore Exchange Ltd. |
2,994 | 21,492 | ||||||
Singapore Post Ltd. |
5,846 | 2,840 | ||||||
Singapore Press Holdings Ltd. |
5,727 | 8,451 | ||||||
Singapore Technologies Engineering Ltd. |
5,558 | 15,786 | ||||||
Singapore Telecommunications Ltd. |
27,366 | 50,734 | ||||||
StarHub Ltd. |
2,228 | 2,049 | ||||||
Suntec REIT |
7,285 | 8,049 | ||||||
United Overseas Bank Ltd. |
4,696 | 93,154 | ||||||
UOL Group Ltd. |
1,821 | 9,763 | ||||||
Venture Corp. Ltd. |
960 | 13,391 | ||||||
Wing Tai Holdings Ltd. |
1,413 | 2,033 | ||||||
|
|
|||||||
754,602 | ||||||||
|
|
|||||||
South Africa-0.25% |
||||||||
Anglo American PLC |
4,482 | 170,949 | ||||||
Scatec ASA(d) |
431 | 8,463 | ||||||
|
|
|||||||
179,412 | ||||||||
|
|
|||||||
South Korea-5.01% |
||||||||
Alteogen, Inc.(a) |
97 | 5,811 | ||||||
Amorepacific Corp. |
119 | 18,483 | ||||||
Amorepacific Corp., Preference Shares |
48 | 2,958 | ||||||
Amorepacific Group |
96 | 4,075 | ||||||
BGF retail Co. Ltd. |
24 | 3,317 | ||||||
BNK Financial Group, Inc. |
1,101 | 8,291 | ||||||
Celltrion Healthcare Co. Ltd.(a) |
263 | 18,208 | ||||||
Celltrion Pharm, Inc.(a) |
71 | 6,884 | ||||||
Celltrion, Inc.(a) |
383 | 65,715 | ||||||
Cheil Worldwide, Inc. |
264 | 5,388 | ||||||
CJ CheilJedang Corp. |
25 | 8,130 | ||||||
CJ CheilJedang Corp., Preference Shares |
1 | 166 | ||||||
CJ Corp. |
48 | 3,935 | ||||||
CJ ENM Co. Ltd. |
47 | 7,095 | ||||||
CJ Logistics Corp.(a) |
24 | 2,916 | ||||||
Coway Co. Ltd. |
193 | 13,114 | ||||||
Daewoo Engineering & Construction Co. Ltd.(a) |
648 | 3,466 | ||||||
Daewoo Shipbuilding & Marine Engineering Co. Ltd.(a) |
168 | 3,709 | ||||||
DB Insurance Co. Ltd. |
168 | 8,511 | ||||||
DGB Financial Group, Inc. |
552 | 4,889 | ||||||
DL E&C Co. Ltd.(a) |
48 | 5,545 | ||||||
DL Holdings Co. Ltd. |
47 | 2,643 | ||||||
Dongsuh Cos., Inc. |
120 | 3,553 | ||||||
Doosan Bobcat, Inc.(a) |
96 | 3,126 | ||||||
Doosan Heavy Industries & Construction Co. Ltd.(a) |
1,077 | 22,488 | ||||||
Ecopro BM Co. Ltd. |
25 | 8,769 | ||||||
E-MART, Inc. |
72 | 10,351 | ||||||
Fila Holdings Corp. |
192 | 6,096 | ||||||
Green Cross Corp. |
2 | 470 | ||||||
GS Engineering & Construction Corp. |
216 | 7,643 |
Shares | Value | |||||||
South Korea-(continued) |
||||||||
GS Holdings Corp. |
192 | $ | 6,942 | |||||
GS Retail Co. Ltd. |
96 | 2,645 | ||||||
Hana Financial Group, Inc. |
1,053 | 40,550 | ||||||
Hanjin Kal Corp.(a) |
73 | 3,423 | ||||||
Hankook Tire & Technology Co. Ltd. |
264 | 9,342 | ||||||
Hanmi Pharm Co. Ltd. |
24 | 5,422 | ||||||
Hanmi Science Co. Ltd. |
48 | 2,341 | ||||||
Hanon Systems |
600 | 7,394 | ||||||
Hanssem Co. Ltd. |
24 | 2,085 | ||||||
Hanwha Aerospace Co. Ltd. |
120 | 4,621 | ||||||
Hanwha Corp. |
144 | 4,128 | ||||||
Hanwha Corp., Preference Shares |
72 | 1,010 | ||||||
Hanwha Life Insurance Co. Ltd. |
1,029 | 3,060 | ||||||
Hanwha Solutions Corp.(a) |
359 | 12,550 | ||||||
HDC Hyundai Development Co-Engineering & Construction, Class E |
168 | 3,673 | ||||||
Helixmith Co. Ltd.(a) |
97 | 1,976 | ||||||
Hite Jinro Co. Ltd. |
120 | 3,574 | ||||||
HLB, Inc.(a) |
288 | 10,376 | ||||||
HMM Co. Ltd.(a) |
1,270 | 28,964 | ||||||
Hotel Shilla Co. Ltd. |
120 | 8,975 | ||||||
HYBE Co. Ltd.(a) |
52 | 14,907 | ||||||
Hyundai Department Store Co. Ltd. |
48 | 3,401 | ||||||
Hyundai Doosan Infracore Co. Ltd.(a) |
144 | 1,294 | ||||||
Hyundai Engineering & Construction Co. Ltd. |
264 | 11,364 | ||||||
Hyundai Glovis Co. Ltd. |
71 | 10,177 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. |
191 | 10,330 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. |
216 | 4,852 | ||||||
Hyundai Mipo Dockyard Co. Ltd.(a) |
72 | 4,664 | ||||||
Hyundai Mobis Co. Ltd. |
239 | 51,541 | ||||||
Hyundai Motor Co |
503 | 89,533 | ||||||
Hyundai Motor Co., First Pfd |
72 | 6,007 | ||||||
Hyundai Motor Co., Second Pfd. |
120 | 10,053 | ||||||
Hyundai Steel Co |
264 | 10,042 | ||||||
Hyundai Wia Corp. |
48 | 3,455 | ||||||
Industrial Bank of Korea |
911 | 8,615 | ||||||
Kakao Corp. |
983 | 105,572 | ||||||
Kangwon Land, Inc.(a) |
384 | 9,135 | ||||||
KB Financial Group, Inc. |
1,414 | 68,489 | ||||||
KCC Corp. |
2 | 570 | ||||||
KEPCO Plant Service & Engineering Co. Ltd. |
72 | 2,579 | ||||||
Kia Corp. |
934 | 68,019 | ||||||
Korea Aerospace Industries Ltd. |
240 | 6,274 | ||||||
Korea Electric Power Corp. |
936 | 18,102 | ||||||
Korea Gas Corp.(a) |
96 | 3,639 | ||||||
Korea Investment Holdings Co. Ltd. |
144 | 10,721 | ||||||
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a) |
145 | 12,781 | ||||||
Korea Zinc Co. Ltd. |
25 | 11,489 | ||||||
Korean Air Lines Co. Ltd.(a) |
646 | 16,833 | ||||||
KT&G Corp. |
406 | 28,177 | ||||||
Kumho Petrochemical Co. Ltd. |
71 | 10,451 | ||||||
LG Chem Ltd. |
168 | 120,190 | ||||||
LG Chem Ltd., Preference Shares |
24 | 7,876 | ||||||
LG Corp. |
311 | 24,272 | ||||||
LG Display Co. Ltd.(a) |
816 | 13,757 | ||||||
LG Electronics, Inc. |
384 | 39,598 | ||||||
LG Electronics, Inc., Preference Shares |
72 | 3,950 | ||||||
LG Household & Health Care Ltd. |
25 | 25,052 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
23 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
South Korea-(continued) |
||||||||
LG Household & Health Care Ltd., Preference Shares |
1 | $ | 513 | |||||
LG Innotek Co. Ltd. |
48 | 8,606 | ||||||
LG Uplus Corp. |
696 | 8,547 | ||||||
LOTTE Chemical Corp. |
49 | 9,414 | ||||||
LOTTE Chilsung Beverage Co. Ltd. |
2 | 249 | ||||||
LOTTE Corp. |
96 | 2,686 | ||||||
LOTTE Fine Chemical Co. Ltd. |
72 | 5,243 | ||||||
LOTTE Shopping Co. Ltd. |
47 | 4,223 | ||||||
LS Corp. |
72 | 3,857 | ||||||
LX Holdings Corp.(a) |
144 | 1,087 | ||||||
Mando Corp.(a) |
120 | 6,408 | ||||||
Medy-Tox, Inc.(a) |
2 | 256 | ||||||
Mirae Asset Securities Co. Ltd. |
1,271 | 9,441 | ||||||
Mirae Asset Securities Co. Ltd., Second Pfd. |
504 | 2,085 | ||||||
NAVER Corp. |
480 | 167,182 | ||||||
NCSoft Corp. |
54 | 28,974 | ||||||
Netmarble Corp.(d) |
71 | 7,504 | ||||||
NH Investment & Securities Co. Ltd. |
480 | 5,402 | ||||||
NHN Corp.(a) |
24 | 1,643 | ||||||
NongShim Co. Ltd. |
1 | 243 | ||||||
OCI Co. Ltd.(a) |
71 | 7,868 | ||||||
Orion Corp. |
72 | 7,271 | ||||||
Ottogi Corp. |
1 | 412 | ||||||
Pan Ocean Co. Ltd. |
672 | 3,462 | ||||||
Paradise Co. Ltd.(a) |
168 | 2,502 | ||||||
Pearl Abyss Corp.(a) |
119 | 10,581 | ||||||
POSCO |
239 | 60,540 | ||||||
POSCO Chemical Co. Ltd. |
96 | 11,953 | ||||||
Posco International Corp. |
192 | 3,565 | ||||||
S-1 Corp. |
72 | 5,133 | ||||||
Samsung Biologics Co. Ltd.(a)(d) |
48 | 35,778 | ||||||
Samsung C&T Corp. |
311 | 30,340 | ||||||
Samsung Card Co. Ltd. |
120 | 3,517 | ||||||
Samsung Electro-Mechanics Co. Ltd. |
192 | 26,125 | ||||||
Samsung Electronics Co. Ltd. |
16,907 | 1,009,891 | ||||||
Samsung Electronics Co. Ltd., Preference Shares |
2,996 | 164,087 | ||||||
Samsung Engineering Co. Ltd.(a) |
576 | 12,224 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
120 | 23,722 | ||||||
Samsung Fire & Marine Insurance Co. Ltd., Preference Shares |
1 | 151 | ||||||
Samsung Heavy Industries Co. Ltd.(a) |
1,695 | 9,254 | ||||||
Samsung Life Insurance Co. Ltd. |
217 | 12,498 | ||||||
Samsung SDI Co. Ltd. |
192 | 120,601 | ||||||
Samsung SDI Co. Ltd., Preference Shares |
1 | 323 | ||||||
Samsung SDS Co. Ltd. |
119 | 15,581 | ||||||
Samsung Securities Co. Ltd. |
240 | 9,725 | ||||||
Seegene, Inc. |
119 | 5,418 | ||||||
Shin Poong Pharmaceutical Co. Ltd. |
120 | 5,319 | ||||||
Shinhan Financial Group Co. Ltd. |
1,820 | 59,574 | ||||||
Shinsegae, Inc. |
24 | 5,093 | ||||||
SillaJen, Inc.(a)(c) |
8 | 22 | ||||||
SK Biopharmaceuticals Co. Ltd.(a) |
95 | 7,691 | ||||||
SK Bioscience Co. Ltd.(a) |
72 | 14,171 | ||||||
SK Chemicals Co. Ltd. |
48 | 7,394 | ||||||
SK Hynix, Inc. |
1,829 | 161,214 | ||||||
SK Innovation Co. Ltd.(a) |
192 | 39,844 | ||||||
SK Networks Co. Ltd. |
528 | 2,300 | ||||||
SK Telecom Co. Ltd.(a)(c) |
10 | 2,599 | ||||||
SK, Inc. |
119 | 24,746 |
Shares | Value | |||||||
South Korea-(continued) |
||||||||
SKC Co. Ltd. |
72 | $ | 10,967 | |||||
S-Oil Corp. |
144 | 12,631 | ||||||
Solus Advanced Materials Co. Ltd. |
48 | 3,381 | ||||||
SSANGYONG C&E Co. Ltd. |
384 | 2,580 | ||||||
Woori Financial Group, Inc. |
1,846 | 20,932 | ||||||
Yuhan Corp. |
169 | 8,663 | ||||||
|
|
|||||||
3,531,763 | ||||||||
|
|
|||||||
Spain-2.27% |
||||||||
Acciona S.A. |
72 | 13,815 | ||||||
ACS Actividades de Construccion y Servicios S.A. |
816 | 21,370 | ||||||
Aena SME S.A.(a)(d) |
263 | 43,112 | ||||||
Amadeus IT Group S.A.(a) |
1,557 | 104,218 | ||||||
Banco Bilbao Vizcaya Argentaria S.A. |
24,252 | 170,134 | ||||||
Banco Santander S.A.(b) |
60,987 | 231,246 | ||||||
Bankinter S.A. |
2,564 | 14,130 | ||||||
CaixaBank S.A. |
16,079 | 46,240 | ||||||
Cellnex Telecom S.A.(d) |
2,206 | 135,763 | ||||||
EDP Renovaveis S.A. |
886 | 24,710 | ||||||
Enagas S.A. |
912 | 20,480 | ||||||
Endesa S.A. |
1,151 | 26,567 | ||||||
Ferrovial S.A. |
1,748 | 55,144 | ||||||
Fluidra S.A. |
382 | 14,610 | ||||||
Grifols S.A. |
1,245 | 28,520 | ||||||
Iberdrola S.A. |
21,496 | 254,111 | ||||||
Industria de Diseno Textil S.A.(b) |
3,834 | 138,609 | ||||||
Inmobiliaria Colonial SOCIMI S.A. |
1,221 | 11,883 | ||||||
Linea Directa Aseguradora S.A. Cia de Seguros y Reaseguros |
2,564 | 5,163 | ||||||
Mapfre S.A. |
3,689 | 7,815 | ||||||
Merlin Properties SOCIMI S.A. |
1,245 | 13,497 | ||||||
Naturgy Energy Group S.A.(b) |
1,079 | 28,382 | ||||||
Red Electrica Corp. S.A. |
1,605 | 33,452 | ||||||
Repsol S.A. |
4,722 | 60,416 | ||||||
Siemens Gamesa Renewable Energy S.A., Class R(a) |
816 | 22,125 | ||||||
Telefonica S.A. |
18,043 | 78,604 | ||||||
|
|
|||||||
1,604,116 | ||||||||
|
|
|||||||
Sweden-3.50% |
||||||||
Alfa Laval AB |
1,149 | 49,192 | ||||||
Assa Abloy AB, Class B |
3,354 | 98,216 | ||||||
Atlas Copco AB, Class A(b) |
2,301 | 147,836 | ||||||
Atlas Copco AB, Class B(b) |
1,389 | 75,123 | ||||||
Beijer Ref AB |
887 | 18,218 | ||||||
Boliden AB |
1,005 | 35,444 | ||||||
Castellum AB(b) |
744 | 19,786 | ||||||
Electrolux AB, Class B(b) |
840 | 19,062 | ||||||
Elekta AB, Class B(b) |
1,341 | 15,570 | ||||||
Epiroc AB, Class A(b) |
2,276 | 56,632 | ||||||
Epiroc AB, Class B |
1,413 | 30,025 | ||||||
EQT AB |
1,030 | 54,279 | ||||||
Essity AB, Class B |
2,228 | 72,066 | ||||||
Evolution AB(d) |
576 | 93,169 | ||||||
Fastighets AB Balder, Class B(a) |
360 | 26,080 | ||||||
Getinge AB, Class B |
816 | 36,513 | ||||||
H & M Hennes & Mauritz AB, Class B(b) |
3,188 | 59,770 | ||||||
Hexagon AB, Class B |
6,493 | 104,329 | ||||||
Holmen AB, Class B |
360 | 15,962 | ||||||
Husqvarna AB, Class A |
96 | 1,375 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
24 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Sweden-(continued) |
||||||||
Husqvarna AB, Class B |
1,509 | $ | 21,462 | |||||
ICA Gruppen AB |
288 | 14,889 | ||||||
Industrivarden AB, Class A(b) |
838 | 27,632 | ||||||
Industrivarden AB, Class C |
624 | 20,264 | ||||||
Indutrade AB |
1,030 | 29,970 | ||||||
Investment AB Latour, Class B |
527 | 19,096 | ||||||
Investor AB, Class A |
1,941 | 44,865 | ||||||
Investor AB, Class B(b) |
6,637 | 152,933 | ||||||
Kinnevik AB, Class A(a) |
48 | 1,935 | ||||||
Kinnevik AB, Class B(a) |
864 | 33,867 | ||||||
L E Lundbergforetagen AB, Class B |
264 | 15,203 | ||||||
Lifco AB, Class B |
840 | 24,461 | ||||||
Lundin Energy AB |
696 | 27,488 | ||||||
Nibe Industrier AB, Class B |
4,362 | 64,934 | ||||||
Saab AB, Class B |
336 | 9,342 | ||||||
Sagax AB, Class B |
623 | 24,373 | ||||||
Sagax AB, Class D |
360 | 1,373 | ||||||
Sandvik AB |
3,930 | 99,526 | ||||||
Securitas AB, Class B |
1,149 | 18,997 | ||||||
Sinch AB(a)(d) |
1,870 | 35,458 | ||||||
Skandinaviska Enskilda Banken AB, Class A |
5,224 | 81,658 | ||||||
Skandinaviska Enskilda Banken AB, Class C |
72 | 1,154 | ||||||
Skanska AB, Class B |
1,295 | 32,871 | ||||||
SKF AB, Class B |
1,437 | 33,296 | ||||||
Svenska Cellulosa AB S.C.A., Class A |
72 | 1,133 | ||||||
Svenska Cellulosa AB S.C.A., Class B |
2,158 | 33,645 | ||||||
Svenska Handelsbanken AB, Class A(b) |
5,415 | 62,003 | ||||||
Svenska Handelsbanken AB, Class B(b) |
120 | 1,516 | ||||||
Sweco AB, Class B |
720 | 11,460 | ||||||
Swedbank AB, Class A(b) |
3,666 | 79,496 | ||||||
Swedish Match AB |
5,630 | 49,545 | ||||||
Swedish Orphan Biovitrum AB, Class B(a) |
648 | 17,580 | ||||||
Tele2 AB, Class B |
1,821 | 25,687 | ||||||
Telefonaktiebolaget LM Ericsson, Class A |
144 | 1,576 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
10,974 | 120,109 | ||||||
Telia Co. AB(b) |
9,347 | 36,780 | ||||||
Trelleborg AB, Class B |
888 | 20,281 | ||||||
Volvo AB, Class A |
720 | 17,001 | ||||||
Volvo AB, Class B |
5,489 | 127,771 | ||||||
|
|
|||||||
2,471,277 | ||||||||
|
|
|||||||
Switzerland-8.70% |
||||||||
ABB Ltd. |
6,182 | 204,928 | ||||||
Adecco Group AG |
574 | 28,940 | ||||||
Alcon, Inc. |
1,677 | 138,858 | ||||||
Baloise Holding AG |
167 | 26,683 | ||||||
Banque Cantonale Vaudoise |
96 | 7,743 | ||||||
Barry Callebaut AG |
13 | 30,133 | ||||||
BKW AG |
71 | 9,418 | ||||||
Chocoladefabriken Lindt & Spruengli AG, PC |
7 | 82,659 | ||||||
Cie Financiere Richemont S.A. |
1,810 | 224,034 | ||||||
Clariant AG |
816 | 17,200 | ||||||
Credit Suisse Group AG |
8,698 | 90,735 | ||||||
DKSH Holding AG |
120 | 9,626 | ||||||
EMS-Chemie Holding AG |
24 | 23,836 | ||||||
Flughafen Zurich AG(a) |
72 | 13,001 | ||||||
Geberit AG |
120 | 93,873 | ||||||
Georg Fischer AG |
15 | 22,736 | ||||||
Givaudan S.A. |
33 | 155,619 | ||||||
Helvetia Holding AG |
120 | 14,315 |
Shares | Value | |||||||
Switzerland-(continued) |
||||||||
Holcim Ltd.(a) |
1,990 | $ | 99,549 | |||||
Julius Baer Group Ltd. |
790 | 57,217 | ||||||
Kuehne + Nagel International AG, Class R |
168 | 53,006 | ||||||
Logitech International S.A., Class R(b) |
550 | 45,878 | ||||||
Lonza Group AG |
264 | 216,863 | ||||||
Medmix AG(a)(d) |
71 | 3,401 | ||||||
Nestle S.A. |
10,150 | 1,342,077 | ||||||
Novartis AG |
7,599 | 629,043 | ||||||
OC Oerlikon Corp. AG |
696 | 7,080 | ||||||
Partners Group Holding AG |
73 | 127,625 | ||||||
PSP Swiss Property AG |
145 | 18,154 | ||||||
Roche Holding AG |
2,494 | 966,348 | ||||||
Roche Holding AG, BR |
96 | 41,289 | ||||||
Schindler Holding AG |
72 | 18,501 | ||||||
Schindler Holding AG, PC |
144 | 37,539 | ||||||
SGS S.A. |
20 | 59,272 | ||||||
SIG Combibloc Group AG |
1,223 | 32,016 | ||||||
Sika AG |
499 | 169,291 | ||||||
Sonova Holding AG, Class A |
192 | 79,490 | ||||||
STMicroelectronics N.V. |
2,301 | 108,950 | ||||||
Straumann Holding AG, Class R |
35 | 72,854 | ||||||
Sulzer AG |
71 | 6,997 | ||||||
Swatch Group AG (The) |
168 | 8,943 | ||||||
Swatch Group AG (The), BR |
97 | 26,666 | ||||||
Swiss Life Holding AG |
106 | 58,304 | ||||||
Swiss Prime Site AG |
264 | 26,870 | ||||||
Swisscom AG |
95 | 51,817 | ||||||
Tecan Group AG, Class R |
48 | 29,417 | ||||||
Temenos AG |
216 | 33,059 | ||||||
UBS Group AG |
11,837 | 215,625 | ||||||
VAT Group AG(d) |
96 | 45,933 | ||||||
Vifor Pharma AG |
191 | 24,686 | ||||||
Zurich Insurance Group AG |
527 | 234,101 | ||||||
|
|
|||||||
6,142,198 | ||||||||
|
|
|||||||
Taiwan-0.00% |
||||||||
FIT Hon Teng Ltd.(a)(b)(d) |
3,482 | 698 | ||||||
|
|
|||||||
United Kingdom-12.16% |
||||||||
3i Group PLC |
3,499 | 65,421 | ||||||
abrdn PLC |
7,909 | 27,537 | ||||||
Admiral Group PLC |
767 | 30,174 | ||||||
Ashmore Group PLC(b) |
1,677 | 7,756 | ||||||
Ashtead Group PLC |
1,630 | 136,830 | ||||||
Associated British Foods PLC |
1,271 | 31,151 | ||||||
AstraZeneca PLC |
5,556 | 692,589 | ||||||
Auto Trader Group PLC(b)(d) |
3,474 | 28,839 | ||||||
AVEVA Group PLC(b) |
408 | 19,899 | ||||||
Aviva PLC |
14,258 | 77,141 | ||||||
B&M European Value Retail S.A. |
3,188 | 27,671 | ||||||
BAE Systems PLC |
11,837 | 89,533 | ||||||
Barclays PLC |
61,777 | 171,267 | ||||||
Barratt Developments PLC |
3,737 | 33,962 | ||||||
Bellway PLC |
455 | 20,663 | ||||||
Berkeley Group Holdings PLC |
384 | 22,923 | ||||||
BP PLC |
71,128 | 341,441 | ||||||
British American Tobacco PLC |
8,314 | 290,210 | ||||||
British Land Co. PLC (The) |
3,403 | 23,057 | ||||||
BT Group PLC(a) |
27,390 | 52,150 | ||||||
Bunzl PLC |
1,245 | 46,112 | ||||||
Burberry Group PLC |
1,485 | 39,266 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
25 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
United Kingdom-(continued) |
||||||||
Centrica PLC(a) |
21,472 | $ | 17,754 | |||||
CNH Industrial N.V. |
3,594 | 62,096 | ||||||
Compass Group PLC(a) |
6,495 | 137,997 | ||||||
ConvaTec Group PLC(d) |
5,894 | 17,273 | ||||||
Croda International PLC |
502 | 65,082 | ||||||
DCC PLC |
360 | 30,131 | ||||||
Dechra Pharmaceuticals PLC |
383 | 26,880 | ||||||
Derwent London PLC |
382 | 17,709 | ||||||
Diageo PLC |
8,219 | 409,188 | ||||||
Direct Line Insurance Group PLC |
5,032 | 20,169 | ||||||
Dr. Martens PLC(a) |
1,485 | 7,507 | ||||||
DS Smith PLC |
4,696 | 24,680 | ||||||
easyJet PLC(a) |
1,343 | 11,469 | ||||||
Electrocomponents PLC |
1,702 | 26,246 | ||||||
Entain PLC(a) |
2,133 | 59,880 | ||||||
Experian PLC |
3,331 | 152,823 | ||||||
GlaxoSmithKline PLC |
17,631 | 364,594 | ||||||
Halma PLC |
1,390 | 56,436 | ||||||
Hargreaves Lansdown PLC(b) |
1,341 | 28,253 | ||||||
Hiscox Ltd. |
1,223 | 13,965 | ||||||
HomeServe PLC |
1,007 | 11,802 | ||||||
Howden Joinery Group PLC |
2,086 | 26,301 | ||||||
HSBC Holdings PLC |
73,310 | 443,662 | ||||||
IMI PLC |
958 | 21,457 | ||||||
Imperial Brands PLC |
3,427 | 72,436 | ||||||
Informa PLC(a) |
5,511 | 39,237 | ||||||
InterContinental Hotels Group PLC(a) |
671 | 47,074 | ||||||
Intermediate Capital Group PLC |
1,030 | 30,934 | ||||||
International Consolidated Airlines Group S.A.(a) |
4,121 | 9,253 | ||||||
Intertek Group PLC |
598 | 40,125 | ||||||
ITV PLC(a)(b) |
13,708 | 20,228 | ||||||
J Sainsbury PLC |
6,014 | 24,682 | ||||||
JD Sports Fashion PLC |
1,798 | 26,815 | ||||||
Johnson Matthey PLC |
695 | 26,037 | ||||||
Just Eat Takeaway.com N.V.(a)(d) |
648 | 46,584 | ||||||
Kingfisher PLC |
7,765 | 35,657 | ||||||
Land Securities Group PLC |
2,613 | 24,607 | ||||||
Legal & General Group PLC |
21,567 | 85,407 | ||||||
Lloyds Banking Group PLC |
258,895 | 178,221 | ||||||
London Stock Exchange Group PLC |
1,318 | 128,272 | ||||||
M&G PLC |
9,562 | 26,188 | ||||||
Meggitt PLC(a) |
2,853 | 29,331 | ||||||
Melrose Industries PLC |
15,936 | 34,470 | ||||||
National Grid PLC |
12,964 | 166,224 | ||||||
NatWest Group PLC |
19,100 | 57,887 | ||||||
Next PLC |
456 | 49,792 | ||||||
Ocado Group PLC(a)(b) |
1,774 | 43,844 | ||||||
Pearson PLC(b) |
2,757 | 22,766 | ||||||
Pennon Group PLC |
1,030 | 16,462 | ||||||
Persimmon PLC |
1,173 | 43,751 | ||||||
Phoenix Group Holdings PLC |
2,034 | 18,307 | ||||||
Prudential PLC |
9,617 | 197,013 | ||||||
Quilter PLC(d) |
6,423 | 13,700 | ||||||
Reckitt Benckiser Group PLC |
2,301 | 186,880 | ||||||
RELX PLC |
6,783 | 210,502 | ||||||
Renishaw PLC |
121 | 8,334 | ||||||
Rentokil Initial PLC |
6,830 | 55,087 | ||||||
Rightmove PLC(b) |
3,187 | 30,204 | ||||||
Rolls-Royce Holdings PLC(a)(b) |
30,458 | 55,044 | ||||||
Royal Dutch Shell PLC, Class A |
14,681 | 338,284 |
Shares | Value | |||||||
United Kingdom-(continued) |
||||||||
Royal Dutch Shell PLC, Class B |
13,245 | $ | 305,922 | |||||
Royal Mail PLC |
3,331 | 19,200 | ||||||
Sage Group PLC (The) |
3,857 | 37,580 | ||||||
Schroders PLC |
408 | 20,245 | ||||||
Segro PLC |
4,384 | 77,671 | ||||||
Severn Trent PLC |
864 | 32,427 | ||||||
Smith & Nephew PLC |
3,212 | 55,256 | ||||||
Smiths Group PLC |
1,461 | 27,146 | ||||||
Spirax-Sarco Engineering PLC |
264 | 56,471 | ||||||
SSE PLC |
3,833 | 86,351 | ||||||
St James’s Place PLC(b) |
1,942 | 42,046 | ||||||
Standard Chartered PLC |
9,299 | 63,083 | ||||||
Tate & Lyle PLC |
1,725 | 15,327 | ||||||
Taylor Wimpey PLC |
13,322 | 28,223 | ||||||
TechnipFMC PLC(a) |
1,701 | 12,740 | ||||||
Tesco PLC |
27,868 | 103,102 | ||||||
THG PLC(a)(b) |
3,785 | 11,238 | ||||||
Travis Perkins PLC |
816 | 17,259 | ||||||
Unilever PLC |
9,238 | 495,377 | ||||||
United Utilities Group PLC |
2,515 | 35,802 | ||||||
Vodafone Group PLC |
100,932 | 149,476 | ||||||
Weir Group PLC (The) |
958 | 22,784 | ||||||
Whitbread PLC(a)(b) |
743 | 33,304 | ||||||
Wickes Group PLC |
934 | 2,745 | ||||||
WPP PLC |
4,266 | 61,751 | ||||||
|
|
|||||||
8,581,111 | ||||||||
|
|
|||||||
United States-0.85% |
||||||||
Amcor PLC, CDI |
5,560 | 66,776 | ||||||
Avast PLC(d) |
2,014 | 15,449 | ||||||
Ferguson PLC |
815 | 122,832 | ||||||
James Hardie Industries PLC, CDI |
1,607 | 62,343 | ||||||
JS Global Lifestyle Co. Ltd.(b)(d) |
1,170 | 2,169 | ||||||
QIAGEN N.V.(a) |
792 | 43,618 | ||||||
Samsonite International S.A.(a)(d) |
4,811 | 10,365 | ||||||
Sims Ltd. |
600 | 6,440 | ||||||
Stellantis N.V. |
7,381 | 147,344 | ||||||
Swiss Re AG |
1,055 | 102,342 | ||||||
Tenaris S.A. |
1,749 | 19,491 | ||||||
|
|
|||||||
599,169 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
70,364,788 | |||||||
|
|
|||||||
Money Market Funds-0.23% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(f)(g) |
160,782 | 160,782 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
70,525,570 | |||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
||||||||
Money Market Funds-1.59% |
||||||||
Invesco Private Government Fund, 0.02%(f)(g)(h) |
335,481 | 335,481 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
26 | ||||
|
| |||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)–(continued)
October 31, 2021
Shares | Value | |||||||
Money Market Funds-(continued) |
||||||||
Invesco Private Prime Fund, 0.11%(f)(g)(h) |
783,391 | $ | 783,705 | |||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
1,119,186 | |||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-101.54% |
|
71,644,756 | ||||||
OTHER ASSETS LESS LIABILITIES-(1.54)% |
(1,083,547 | ) | ||||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 70,561,209 | ||||||
|
|
Investment Abbreviations:
BR-Bearer Shares
CDI-CREST Depository Interest
CVA-Dutch Certificates
PC-Participation Certificate
Pfd.-Preferred
REIT-Real Estate Investment Trust
RSP-Registered Savings Plan Shares
Notes to Schedule of Investments:
(a) |
Non-income producing security. |
(b) |
All or a portion of this security was out on loan at October 31, 2021. |
(c) |
Security valued using significant unobservable inputs (Level 3). See Note 4. |
(d) |
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2021 was $1,620,463, which represented 2.30% of the Fund’s Net Assets. |
(e) |
Restricted security. The aggregate value of these securities at October 31, 2021 was $7,450, which represented less than 1% of the Fund’s Net Assets. |
(f) |
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 fiscal year ended October 31, 2021. |
Value October 31, 2020 |
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 | $567 | $5,438,738 | $(5,278,523 | ) | $- | $- | $160,782 | $6 | |||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 13,279 | 1,081,360 | (759,158 | ) | - | - | 335,481 | 14 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 21,660 | 1,982,667 | (1,220,628 | ) | - | 6 | 783,705 | 179 | * | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $35,506 | $8,502,765 | $(7,258,309 | ) | $- | $6 | $1,279,968 | $199 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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. |
(g) |
The rate shown is the 7-day SEC standardized yield as of October 31, 2021. |
(h) |
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
27 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)
October 31, 2021
Schedule of Investments
Shares | Value | |||||||
Common Stocks & Other Equity Interests-92.45% |
| |||||||
Bahrain-0.09% |
||||||||
Ahli United Bank BSC |
10,418 | $ | 10,125 | |||||
|
|
|||||||
Brazil-4.97% |
||||||||
Aliansce Sonae Shopping Centers S.A. |
357 | 1,215 | ||||||
Alpargatas S.A., Preference Shares(a) |
384 | 2,632 | ||||||
Ambev S.A. |
7,133 | 21,499 | ||||||
Americanas S.A.(a) |
782 | 4,120 | ||||||
Atacadao S.A. |
723 | 2,134 | ||||||
Azul S.A., Preference Shares(a) |
387 | 1,707 | ||||||
B3 S.A. - Brasil, Bolsa, Balcao |
10,589 | 22,373 | ||||||
Banco Bradesco S.A. |
1,617 | 4,877 | ||||||
Banco Bradesco S.A., Preference Shares |
7,094 | 25,044 | ||||||
Banco BTG Pactual S.A. |
1,500 | 6,000 | ||||||
Banco do Brasil S.A. |
990 | 5,005 | ||||||
Banco Inter S.A. |
1,200 | 2,465 | ||||||
Banco Inter S.A., Preference Shares(b) |
800 | 1,736 | ||||||
Banco Pan S.A., Preference Shares |
200 | 472 | ||||||
Banco Santander Brasil S.A. |
371 | 2,264 | ||||||
BB Seguridade Participacoes S.A. |
1,200 | 4,702 | ||||||
BR Malls Participacoes S.A.(a) |
1,553 | 1,975 | ||||||
Bradespar S.A., Preference Shares |
447 | 3,859 | ||||||
Braskem S.A., Class A, Preference Shares(a) |
399 | 3,855 | ||||||
BRF S.A.(a) |
1,248 | 5,143 | ||||||
CCR S.A. |
1,986 | 4,027 | ||||||
Centrais Eletricas Brasileiras S.A. |
715 | 4,291 | ||||||
Centrais Eletricas Brasileiras S.A., Class B, Preference Shares |
404 | 2,425 | ||||||
Cia Brasileira de Distribuicao |
370 | 1,676 | ||||||
Cia de Locacao das Americas |
397 | 1,390 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo |
652 | 4,071 | ||||||
Cia de Transmissao de Energia Eletrica Paulista, Preference Shares |
387 | 1,670 | ||||||
Cia Energetica de Minas Gerais, Preference Shares |
1,872 | 4,277 | ||||||
Cia Energetica de Sao Paulo, Class B, Preference Shares |
385 | 1,742 | ||||||
Cia Paranaense de Energia, Class B, Preference Shares |
1,660 | 1,743 | ||||||
Cia Siderurgica Nacional S.A. |
889 | 3,593 | ||||||
Cogna Educacao(a) |
3,729 | 1,641 | ||||||
Cosan S.A. |
2,488 | 8,735 | ||||||
CPFL Energia S.A. |
387 | 1,806 | ||||||
Cyrela Brazil Realty S.A. Empreendimentos e Participacoes |
414 | 1,035 | ||||||
Dexco S.A. |
421 | 1,158 | ||||||
EDP - Energias do Brasil S.A. |
431 | 1,499 | ||||||
Embraer S.A.(a) |
1,200 | 4,668 | ||||||
Energisa S.A. |
383 | 2,692 | ||||||
Eneva S.A.(a) |
1,532 | 3,914 | ||||||
ENGIE Brasil Energia S.A. |
376 | 2,595 | ||||||
Equatorial Energia S.A. |
1,582 | 6,421 | ||||||
Fleury S.A. |
378 | 1,263 | ||||||
Gerdau S.A., Preference Shares |
1,546 | 7,378 | ||||||
Grupo Mateus S.A.(a) |
1,500 | 1,897 | ||||||
Hapvida Participacoes e Investimentos S.A.(b) |
1,745 | 3,572 | ||||||
Hypera S.A. |
777 | 3,868 |
Shares | Value | |||||||
Brazil-(continued) |
||||||||
IRB Brasil Resseguros S.A.(a) |
1,865 | $ | 1,552 | |||||
Itau Unibanco Holding S.A. |
828 | 3,089 | ||||||
Itau Unibanco Holding S.A., Preference Shares |
7,348 | 30,385 | ||||||
Itausa S.A., Preference Shares |
8,043 | 14,625 | ||||||
Klabin S.A.(a) |
1,053 | 4,285 | ||||||
Localiza Rent a Car S.A. |
853 | 6,855 | ||||||
Locaweb Servicos de Internet S.A.(b) |
700 | 2,272 | ||||||
Lojas Americanas S.A. |
902 | 789 | ||||||
Lojas Americanas S.A., Preference Shares |
1,235 | 1,058 | ||||||
Lojas Renner S.A. |
1,552 | 8,874 | ||||||
Magazine Luiza S.A. |
4,728 | 9,067 | ||||||
Marfrig Global Foods S.A. |
1,100 | 5,171 | ||||||
Multiplan Empreendimentos Imobiliarios S.A. |
407 | 1,337 | ||||||
Natura & Co. Holding S.A.(a) |
1,574 | 10,862 | ||||||
Neoenergia S.A. |
700 | 1,925 | ||||||
Notre Dame Intermedica Participacoes S.A. |
799 | 9,097 | ||||||
Odontoprev S.A. |
1,223 | 2,909 | ||||||
Petro Rio S.A.(a) |
1,000 | 4,164 | ||||||
Petroleo Brasileiro S.A. |
6,304 | 30,944 | ||||||
Petroleo Brasileiro S.A., Preference Shares |
7,776 | 37,590 | ||||||
Porto Seguro S.A. |
200 | 828 | ||||||
Qualicorp Consultoria e Corretora de Seguros S.A. |
406 | 1,232 | ||||||
Raia Drogasil S.A. |
2,005 | 8,270 | ||||||
Rede D’Or Sao Luiz S.A.(b) |
600 | 6,280 | ||||||
Rumo S.A.(a) |
2,596 | 7,364 | ||||||
Sao Martinho S.A. |
383 | 2,602 | ||||||
Sendas Distribuidora S.A. |
1,350 | 3,662 | ||||||
Sul America S.A. |
814 | 3,750 | ||||||
Suzano S.A.(a) |
1,223 | 10,681 | ||||||
Telefonica Brasil S.A. |
785 | 6,339 | ||||||
TIM S.A. |
1,674 | 3,332 | ||||||
TOTVS S.A. |
807 | 4,690 | ||||||
Ultrapar Participacoes S.A. |
1,576 | 3,649 | ||||||
Usinas Siderurgicas de Minas Gerais S.A. |
||||||||
Usiminas, Class A, Preference Shares |
820 | 1,927 | ||||||
Vale S.A. |
6,143 | 78,038 | ||||||
Via S/A(a) |
2,104 | 2,295 | ||||||
Vibra Energia S.A. |
2,005 | 7,462 | ||||||
WEG S.A. |
2,454 | 16,107 | ||||||
YDUQS Participacoes S.A., Class A |
420 | 1,554 | ||||||
|
|
|||||||
565,036 | ||||||||
|
|
|||||||
Chile-0.47% |
||||||||
AES Andes S.A. |
6,564 | 676 | ||||||
Banco de Chile |
87,422 | 7,608 | ||||||
Banco de Credito e Inversiones S.A. |
87 | 2,937 | ||||||
Banco Santander Chile |
109,077 | 4,786 | ||||||
Cencosud S.A. |
1,828 | 2,681 | ||||||
Cencosud Shopping S.A. |
1,205 | 1,169 | ||||||
Cia Cervecerias Unidas S.A. |
281 | 2,361 | ||||||
Colbun S.A. |
15,146 | 1,047 | ||||||
Embotelladora Andina S.A., Class B, Preference Shares |
414 | 857 | ||||||
Empresa Nacional de Telecomunicaciones S.A. |
261 | 897 | ||||||
Empresas CMPC S.A. |
2,183 | 4,039 | ||||||
Empresas COPEC S.A. |
679 | 5,356 | ||||||
Enel Americas S.A. |
30,760 | 3,507 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
28 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
Chile-(continued) |
||||||||
Enel Chile S.A. |
51,067 | $ | 2,098 | |||||
Falabella S.A. |
1,318 | 3,655 | ||||||
Parque Arauco S.A.(a) |
1,080 | 1,069 | ||||||
Sociedad Quimica y Minera de Chile S.A., Class B, Preference Shares |
150 | 8,168 | ||||||
|
|
|||||||
52,911 | ||||||||
|
|
|||||||
China-38.24% |
||||||||
51job, Inc., ADR(a) |
60 | 3,574 | ||||||
AECC Aero-Engine Control Co. Ltd., A Shares |
1,300 | 5,420 | ||||||
AECC Aviation Power Co. Ltd., A Shares |
400 | 3,698 | ||||||
Agile Group Holdings Ltd.(c) |
2,397 | 1,886 | ||||||
Agricultural Bank of China Ltd., A Shares |
23,900 | 10,980 | ||||||
Agricultural Bank of China Ltd., H Shares |
51,702 | 17,613 | ||||||
Aier Eye Hospital Group Co. Ltd., A Shares |
848 | 6,431 | ||||||
Airtac International Group |
262 | 7,820 | ||||||
Akeso, Inc.(b) |
1,000 | 5,605 | ||||||
Alibaba Group Holding Ltd.(a) |
22,624 | 474,057 | ||||||
Alibaba Health Information Technology Ltd.(a)(c) |
7,976 | 10,079 | ||||||
A-Living Smart City Services Co. Ltd., U Shares(b)(c) |
1,398 | 4,691 | ||||||
Aluminum Corp. of China Ltd., A Shares(a) |
7,500 | 7,196 | ||||||
Anhui Conch Cement Co. Ltd., A Shares |
700 | 4,165 | ||||||
Anhui Conch Cement Co. Ltd., H Shares |
2,027 | 10,084 | ||||||
Anhui Expressway Co. Ltd., H Shares |
6,000 | 3,563 | ||||||
Anhui Gujing Distillery Co. Ltd., B Shares |
700 | 9,024 | ||||||
ANTA Sports Products Ltd. |
1,955 | 30,560 | ||||||
Autohome, Inc., ADR |
114 | 4,486 | ||||||
AviChina Industry & Technology Co. Ltd., H Shares(c) |
7,085 | 4,517 | ||||||
Baidu, Inc., ADR(a) |
454 | 73,657 | ||||||
Bank of China Ltd., A Shares |
18,200 | 8,674 | ||||||
Bank of China Ltd., H Shares |
121,797 | 43,057 | ||||||
Bank of Communications Co. Ltd., A Shares |
5,500 | 3,885 | ||||||
Bank of Communications Co. Ltd., H Shares |
12,243 | 7,287 | ||||||
Bank of Ningbo Co. Ltd., A Shares |
1,000 | 5,969 | ||||||
Bank of Shanghai Co. Ltd., A Shares |
4,600 | 5,240 | ||||||
Beijing Enterprises Water Group Ltd. |
8,423 | 3,216 | ||||||
Bilibili, Inc., ADR(a)(c) |
401 | 29,393 | ||||||
BOE Technology Group Co. Ltd., A Shares |
7,100 | 5,448 | ||||||
Bosideng International Holdings Ltd.(c) |
4,000 | 3,106 | ||||||
BYD Co. Ltd., A Shares |
300 | 14,594 | ||||||
BYD Co. Ltd., H Shares(c) |
1,184 | 45,144 | ||||||
BYD Electronic International Co. Ltd.(c) |
1,659 | 4,937 | ||||||
CanSino Biologics, Inc., H Shares(a)(b)(c) |
150 | 3,864 | ||||||
Central China Securities Co. Ltd., A Shares |
7,200 | 5,164 | ||||||
CGN Power Co. Ltd., H Shares(b) |
19,976 | 5,393 | ||||||
China Cinda Asset Management Co. Ltd., H Shares |
15,904 | 2,658 | ||||||
China CITIC Bank Corp. Ltd., H Shares |
16,151 | 7,101 | ||||||
China Conch Venture Holdings Ltd |
2,000 | 9,770 | ||||||
China Construction Bank Corp., H Shares |
145,137 | 98,698 | ||||||
China Everbright Bank Co. Ltd., H Shares |
9,382 | 3,305 | ||||||
China Everbright Environment Group Ltd. |
7,606 | 5,231 | ||||||
China Feihe Ltd.(b)(c) |
5,848 | 9,743 | ||||||
China Galaxy Securities Co. Ltd., H Shares |
6,645 | 3,707 | ||||||
China Gas Holdings Ltd. |
2,200 | 5,503 | ||||||
China Greatwall Technology Group Co. Ltd., A Shares |
1,500 | 3,153 | ||||||
China Hongqiao Group Ltd.(c) |
3,645 | 4,053 |
Shares | Value | |||||||
China-(continued) |
||||||||
China International Capital Corp. Ltd., H Shares(b) |
2,891 | $ | 7,195 | |||||
China Jinmao Holdings Group Ltd. |
14,599 | 4,279 | ||||||
China Lesso Group Holdings Ltd. |
1,485 | 2,306 | ||||||
China Life Insurance Co. Ltd., H Shares |
13,453 | 23,450 | ||||||
China Literature Ltd.(a)(b)(c) |
781 | 5,437 | ||||||
China Longyuan Power Group Corp. Ltd., H Shares |
5,894 | 13,775 | ||||||
China Medical System Holdings Ltd. |
3,331 | 5,678 | ||||||
China Meidong Auto Holdings Ltd. |
1,028 | 5,339 | ||||||
China Mengniu Dairy Co. Ltd.(a) |
4,971 | 31,664 | ||||||
China Merchants Bank Co. Ltd., A Shares |
3,000 | 25,301 | ||||||
China Merchants Bank Co. Ltd., H Shares |
5,849 | 49,286 | ||||||
China Merchants Port Holdings Co. Ltd. |
2,725 | 4,554 | ||||||
China Merchants Securities Co. Ltd., H Shares(b)(c) |
4,007 | 6,336 | ||||||
China Minsheng Banking Corp. Ltd., A Shares |
6,300 | 3,830 | ||||||
China Minsheng Banking Corp. Ltd., H Shares(c) |
12,341 | 4,902 | ||||||
China Molybdenum Co. Ltd., H Shares(c) |
9,239 | 5,736 | ||||||
China National Building Material Co. Ltd., H Shares |
7,722 | 9,708 | ||||||
China Oilfield Services Ltd., H Shares |
3,890 | 3,745 | ||||||
China Overseas Land & Investment Ltd. |
6,209 | 13,697 | ||||||
China Pacific Insurance (Group) Co. Ltd., A Shares |
900 | 3,854 | ||||||
China Pacific Insurance (Group) Co. Ltd., H Shares |
4,950 | 15,272 | ||||||
China Petroleum & Chemical Corp., A Shares |
14,900 | 9,896 | ||||||
China Petroleum & Chemical Corp., H Shares |
39,372 | 19,334 | ||||||
China Power International Development Ltd. |
8,000 | 4,021 | ||||||
China Resources Beer Holdings Co. Ltd. |
2,915 | 24,170 | ||||||
China Resources Cement Holdings Ltd. |
6,302 | 5,314 | ||||||
China Resources Land Ltd. |
5,036 | 19,616 | ||||||
China Resources Mixc Lifestyle Services Ltd.(b) |
1,200 | 6,317 | ||||||
China Resources Power Holdings Co. Ltd. |
2,954 | 7,633 | ||||||
China Shenhua Energy Co. Ltd., H Shares |
6,015 | 12,959 | ||||||
China Taiping Insurance Holdings Co. Ltd. |
3,247 | 4,967 | ||||||
China Tourism Group Duty Free Corp. Ltd., A Shares |
255 | 10,698 | ||||||
China Tower Corp. Ltd., H Shares(b) |
88,799 | 11,529 | ||||||
China Traditional Chinese Medicine Holdings Co. Ltd. |
7,088 | 3,371 | ||||||
China Vanke Co. Ltd., A Shares |
1,100 | 3,130 | ||||||
China Vanke Co. Ltd., H Shares |
3,603 | 8,439 | ||||||
China Yangtze Power Co. Ltd., A Shares |
3,500 | 11,622 | ||||||
Chongqing Changan Automobile Co. Ltd., A Shares |
1,220 | 3,718 | ||||||
Chongqing Zhifei Biological Products Co. Ltd., A Shares |
200 | 4,694 | ||||||
CIFI Holdings Group Co. Ltd. |
7,501 | 4,166 | ||||||
CITIC Ltd. |
8,188 | 8,210 | ||||||
CITIC Securities Co. Ltd., A Shares |
1,700 | 6,875 | ||||||
CITIC Securities Co. Ltd., H Shares(c) |
4,016 | 10,232 | ||||||
Contemporary Amperex Technology Co. Ltd., A Shares |
100 | 9,989 | ||||||
COSCO SHIPPING Holdings Co. Ltd., A Shares(a) |
3,270 | 8,447 | ||||||
COSCO SHIPPING Holdings Co. Ltd., H Shares(a)(c) |
2,450 | 3,805 | ||||||
Country Garden Holdings Co. Ltd.(c) |
12,279 | 11,539 | ||||||
Country Garden Services Holdings Co. Ltd. |
2,956 | 22,990 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
29 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
China-(continued) |
||||||||
CSC Financial Co. Ltd., H Shares(b)(c) |
2,390 | $ | 2,535 | |||||
CSG Holding Co. Ltd., B Shares |
20,500 | 8,934 | ||||||
CSPC Pharmaceutical Group Ltd.(c) |
14,025 | 14,676 | ||||||
Dada Nexus Ltd., ADR(a) |
122 | 2,478 | ||||||
Dali Foods Group Co. Ltd.(b) |
4,416 | 2,458 | ||||||
Datang International Power Generation Co. Ltd., A Shares |
21,100 | 8,968 | ||||||
Dongfeng Motor Group Co. Ltd., H Shares |
4,333 | 4,049 | ||||||
East Group Co. Ltd., A Shares |
2,000 | 3,235 | ||||||
East Money Information Co. Ltd., A Shares |
1,876 | 9,645 | ||||||
ENN Energy Holdings Ltd. |
900 | 15,584 | ||||||
Eternal Asia Supply Chain Management Ltd., A Shares |
6,200 | 5,561 | ||||||
Eve Energy Co. Ltd., A Shares |
400 | 7,091 | ||||||
Evergrande Property Services Group Ltd.(a)(b) |
8,500 | 4,349 | ||||||
Far East Horizon Ltd. |
4,938 | 4,716 | ||||||
Flat Glass Group Co. Ltd., H Shares(c) |
1,000 | 5,399 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., A Shares |
386 | 7,059 | ||||||
Fosun International Ltd. |
4,000 | 4,705 | ||||||
Fuyao Glass Industry Group Co. Ltd., H Shares(b) |
1,335 | 7,705 | ||||||
Ganfeng Lithium Co. Ltd., A Shares |
300 | 7,848 | ||||||
GDS Holdings Ltd., ADR(a) |
155 | 9,207 | ||||||
Geely Automobile Holdings Ltd. |
8,557 | 29,755 | ||||||
Genscript Biotech Corp.(a)(c) |
1,554 | 6,902 | ||||||
GF Securities Co. Ltd., H Shares |
3,689 | 6,269 | ||||||
GOME Retail Holdings Ltd.(a)(c) |
26,903 | 2,732 | ||||||
Great Wall Motor Co. Ltd., H Shares(c) |
5,703 | 25,733 | ||||||
GRG Banking Equipment Co. Ltd., A Shares |
3,100 | 5,019 | ||||||
Guangdong Haid Group Co. Ltd., A Shares |
500 | 5,129 | ||||||
Guangdong Investment Ltd. |
6,495 | 8,182 | ||||||
Guangshen Railway Co. Ltd., H Shares(a) |
18,000 | 3,170 | ||||||
Guangzhou Automobile Group Co. Ltd., H Shares(c) |
5,381 | 5,091 | ||||||
Guangzhou Yuexiu Financial Holdings Group Co. Ltd., A Shares |
2,565 | 3,098 | ||||||
Haidilao International Holding Ltd.(b) |
1,689 | 4,733 | ||||||
Haier Smart Home Co. Ltd., A Shares |
1,500 | 6,376 | ||||||
Haier Smart Home Co. Ltd., H Shares |
3,200 | 11,971 | ||||||
Haitian International Holdings Ltd. |
942 | 2,761 | ||||||
Haitong Securities Co. Ltd., A Shares |
3,100 | 5,983 | ||||||
Haitong Securities Co. Ltd., H Shares |
6,320 | 5,630 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., A Shares |
300 | 7,988 | ||||||
Hansoh Pharmaceutical Group Co. Ltd.(b) |
1,903 | 4,252 | ||||||
Hello Group, Inc., ADR |
345 | 4,295 | ||||||
Henan Shuanghui Investment & Development Co. Ltd., A Shares |
900 | 4,149 | ||||||
Hengan International Group Co. Ltd. |
1,606 | 8,392 | ||||||
Hongta Securities Co. Ltd., A Shares |
2,900 | 5,080 | ||||||
Hua Hong Semiconductor Ltd.(a)(b)(c) |
1,013 | 5,105 | ||||||
Huaan Securities Co. Ltd., A Shares |
8,100 | 6,468 | ||||||
Huaneng Power International, Inc., H Shares(c) |
9,885 | 5,121 | ||||||
Huatai Securities Co. Ltd., H Shares(b) |
3,766 | 5,616 | ||||||
Huazhu Group Ltd., ADR(a) |
349 | 16,180 | ||||||
Hubei Biocause Pharmaceutical Co. Ltd., A Shares |
20,600 | 10,462 | ||||||
Hygeia Healthcare Holdings Co. Ltd.(b) |
400 | 3,527 |
Shares | Value | |||||||
China-(continued) |
||||||||
Industrial & Commercial Bank of China Ltd., A Shares |
7,000 | $ | 5,108 | |||||
Industrial & Commercial Bank of China Ltd., H Shares |
128,944 | 70,613 | ||||||
Industrial Bank Co. Ltd., A Shares |
2,800 | 8,152 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., A Shares |
1,100 | 7,391 | ||||||
Innovent Biologics, Inc.(a)(b)(c) |
2,327 | 20,880 | ||||||
Inspur Electronic Information Industry Co. Ltd., A Shares |
1,200 | 5,828 | ||||||
iQIYI, Inc., ADR(a) |
539 | 4,463 | ||||||
JD Health International, Inc.(a)(b)(c) |
1,150 | 10,186 | ||||||
JD.com, Inc., A Shares(a) |
2,000 | 79,804 | ||||||
Jiangsu Expressway Co. Ltd., H Shares |
3,406 | 3,223 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., A Shares |
1,024 | 7,879 | ||||||
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., A Shares |
300 | 8,728 | ||||||
Jiangxi Copper Co. Ltd., H Shares |
2,899 | 5,076 | ||||||
Jiayuan International Group Ltd. |
15,242 | 5,898 | ||||||
Jinxin Fertility Group Ltd.(a)(b)(c) |
2,760 | 3,910 | ||||||
Jiumaojiu International Holdings Ltd.(b)(c) |
1,504 | 3,770 | ||||||
Joyoung Co. Ltd., A Shares |
700 | 2,554 | ||||||
JOYY, Inc., ADR |
99 | 4,989 | ||||||
Juewei Food Co. Ltd., A Shares |
400 | 4,116 | ||||||
Kaishan Group Co. Ltd., A Shares |
2,700 | 7,637 | ||||||
KE Holdings, Inc., ADR(a) |
385 | 7,015 | ||||||
Kingboard Holdings Ltd. |
1,587 | 6,947 | ||||||
KingClean Electric Co. Ltd., A Shares |
760 | 2,969 | ||||||
Kingdee International Software Group Co. Ltd.(a) |
4,286 | 14,160 | ||||||
Kingsoft Cloud Holdings Ltd., ADR(a)(c) |
123 | 2,825 | ||||||
Kingsoft Corp. Ltd. |
1,655 | 7,117 | ||||||
Kuaishou Technology(a)(b)(c) |
2,539 | 33,781 | ||||||
Kweichow Moutai Co. Ltd., A Shares |
155 | 44,230 | ||||||
Legend Holdings Corp., H Shares(b) |
1,900 | 3,341 | ||||||
Lens Technology Co. Ltd., A Shares |
1,100 | 3,656 | ||||||
Leyard Optoelectronic Co. Ltd., A Shares |
2,800 | 4,117 | ||||||
Li Auto, Inc., ADR(a) |
777 | 25,353 | ||||||
Li Ning Co. Ltd. |
3,624 | 40,297 | ||||||
LianChuang Electronic Technology Co. Ltd., A Shares |
2,100 | 6,658 | ||||||
Logan Group Co. Ltd.(c) |
3,111 | 3,123 | ||||||
Longfor Group Holdings Ltd.(b) |
3,505 | 17,031 | ||||||
LONGi Green Energy Technology Co. Ltd., A Shares |
760 | 11,602 | ||||||
Lufax Holding Ltd., ADR(a) |
961 | 6,064 | ||||||
Luxshare Precision Industry Co. Ltd., A Shares |
1,469 | 8,870 | ||||||
Luzhou Laojiao Co. Ltd., A Shares |
300 | 10,733 | ||||||
Mango Excellent Media Co. Ltd., A Shares |
500 | 3,070 | ||||||
Maxscend Microelectronics Co. Ltd., A Shares |
100 | 4,832 | ||||||
Meituan, B Shares(a)(b) |
6,215 | 215,394 | ||||||
Ming Yuan Cloud Group Holdings Ltd.(c) |
1,098 | 3,599 | ||||||
MINISO Group Holding Ltd., ADR |
168 | 2,522 | ||||||
Muyuan Foods Co. Ltd., A Shares |
918 | 8,193 | ||||||
NAURA Technology Group Co. Ltd., A Shares |
100 | 5,801 | ||||||
NetEase, Inc. |
2,300 | 45,444 | ||||||
New China Life Insurance Co. Ltd., A Shares |
700 | 4,285 | ||||||
New China Life Insurance Co. Ltd., H Shares |
1,589 | 4,606 | ||||||
New Hope Liuhe Co. Ltd., A Shares(a) |
2,300 | 5,172 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
30 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
China-(continued) |
||||||||
New Oriental Education & Technology Group, Inc., ADR(a) |
2,497 | $ | 5,119 | |||||
Ninestar Corp., A Shares |
1,500 | 8,610 | ||||||
NIO, Inc., ADR(a) |
2,068 | 81,500 | ||||||
People’s Insurance Co. Group of China Ltd. (The), H Shares |
15,656 | 4,891 | ||||||
PetroChina Co. Ltd., H Shares |
39,275 | 18,984 | ||||||
Pharmaron Beijing Co. Ltd., A Shares |
300 | 8,970 | ||||||
PICC Property & Casualty Co. Ltd., H Shares |
11,653 | 10,905 | ||||||
Pinduoduo, Inc., ADR(a) |
605 | 53,797 | ||||||
Ping An Bank Co. Ltd., A Shares |
3,100 | 9,446 | ||||||
Ping An Healthcare and Technology Co. Ltd.(a)(b)(c) |
760 | 3,698 | ||||||
Ping An Insurance (Group) Co. of China Ltd., A Shares |
900 | 6,972 | ||||||
Ping An Insurance (Group) Co. of China Ltd., H Shares(c) |
10,048 | 72,205 | ||||||
Poly Developments and Holdings Group Co. Ltd., A Shares |
2,700 | 5,299 | ||||||
Poly Property Services Co. Ltd., H Shares(b)(c) |
600 | 3,371 | ||||||
Pop Mart International Group Ltd.(b) |
973 | 5,747 | ||||||
Postal Savings Bank of China Co. Ltd., H Shares(b)(c) |
16,176 | 11,770 | ||||||
Qingdao Hanhe Cable Co. Ltd., A Shares |
8,700 | 5,873 | ||||||
Remegen Co. Ltd., H Shares(a)(b) |
157 | 1,956 | ||||||
Rongan Property Co. Ltd., A Shares |
11,800 | 4,389 | ||||||
Sanan Optoelectronics Co. Ltd., A Shares |
1,100 | 5,776 | ||||||
Sany Heavy Industry Co. Ltd., A Shares |
1,600 | 5,741 | ||||||
Seazen Group Ltd.(a) |
6,036 | 4,787 | ||||||
SF Holding Co. Ltd., A Shares |
500 | 5,050 | ||||||
Shandong Weigao Group Medical Polymer Co. Ltd., H Shares(c) |
4,618 | 7,872 | ||||||
Shanghai Flyco Electrical Appliance Co. Ltd., A Shares |
1,100 | 6,850 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., H Shares(c) |
1,294 | 6,105 | ||||||
Shanghai International Airport Co. Ltd., A Shares(a) |
500 | 4,125 | ||||||
Shanghai Jahwa United Co. Ltd., A Shares |
400 | 2,996 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., H Shares |
2,158 | 3,956 | ||||||
Shanghai Pudong Development Bank Co. Ltd., A Shares |
4,700 | 6,566 | ||||||
Shanghai Zhenhua Heavy Industries Co. Ltd., B Shares(a) |
40,300 | 10,639 | ||||||
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., A Shares |
240 | 11,307 | ||||||
Shenzhen Agricultural Products Group Co. Ltd., A Shares |
6,100 | 6,615 | ||||||
Shenzhen Huaqiang Industry Co. Ltd., A Shares . |
2,100 | 4,791 | ||||||
Shenzhen Inovance Technology Co. Ltd., A Shares |
650 | 6,626 | ||||||
Shenzhen International Holdings Ltd. |
2,901 | 3,502 | ||||||
Shenzhen Investment Ltd.(c) |
7,544 | 1,852 | ||||||
Shenzhen Kaifa Technology Co. Ltd., A Shares |
2,300 | 5,319 | ||||||
Shenzhen Kangtai Biological Products Co. Ltd., A Shares |
200 | 3,571 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., A Shares |
155 | 9,109 | ||||||
Shenzhen MTC Co. Ltd., A Shares(a) |
4,600 | 3,522 |
Shares | Value | |||||||
China-(continued) |
||||||||
Shenzhen Neptunus Bioengineering Co. Ltd., A Shares(a) |
12,200 | $ | 5,910 | |||||
Shenzhou International Group Holdings Ltd. |
1,220 | 26,316 | ||||||
Shimao Group Holdings Ltd.(c) |
2,094 | 3,295 | ||||||
Shimao Services Holdings Ltd.(b)(c) |
2,000 | 3,815 | ||||||
Sieyuan Electric Co. Ltd., A Shares |
1,100 | 7,122 | ||||||
Silergy Corp. |
105 | 17,293 | ||||||
Sino Biopharmaceutical Ltd.(c) |
16,261 | 12,040 | ||||||
Sinopec Oilfield Service Corp., A Shares(a) |
18,000 | 6,357 | ||||||
Sinopharm Group Co. Ltd., H Shares(c) |
1,758 | 4,194 | ||||||
Sinotruk Hong Kong Ltd. |
2,003 | 2,765 | ||||||
Smoore International Holdings Ltd.(b) |
2,960 | 14,193 | ||||||
Sun Art Retail Group Ltd.(c) |
4,500 | 2,649 | ||||||
Sunac China Holdings Ltd. |
4,090 | 8,812 | ||||||
Sunac Services Holdings Ltd.(a)(b) |
1,000 | 2,029 | ||||||
Sungrow Power Supply Co. Ltd., A Shares |
200 | 5,129 | ||||||
Sunny Optical Technology Group Co. Ltd.(c) |
1,204 | 32,534 | ||||||
TAL Education Group, ADR(a) |
733 | 2,998 | ||||||
Tencent Holdings Ltd. |
9,509 | 587,968 | ||||||
Tencent Music Entertainment Group, ADR(a) |
998 | 7,844 | ||||||
Tongcheng-Elong Holdings Ltd.(a)(b) |
2,367 | 5,301 | ||||||
Tongwei Co. Ltd., A Shares |
800 | 7,155 | ||||||
Topsec Technologies Group, Inc., A Shares |
2,100 | 6,058 | ||||||
Topsports International Holdings Ltd.(b)(c) |
4,000 | 4,864 | ||||||
TravelSky Technology Ltd., H Shares |
2,000 | 3,743 | ||||||
Trip.com Group Ltd., ADR(a) |
842 | 24,048 | ||||||
Tsingtao Brewery Co. Ltd., H Shares |
892 | 7,757 | ||||||
Vipshop Holdings Ltd., ADR(a) |
730 | 8,147 | ||||||
Wanhua Chemical Group Co. Ltd., A Shares |
500 | 8,241 | ||||||
Weibo Corp., ADR(a) |
106 | 4,768 | ||||||
Weichai Power Co. Ltd., H Shares |
4,346 | 7,810 | ||||||
Will Semiconductor Co. Ltd., A Shares |
200 | 8,313 | ||||||
Wingtech Technology Co. Ltd., A Shares |
400 | 6,861 | ||||||
Wuliangye Yibin Co. Ltd., A Shares |
400 | 13,533 | ||||||
WuXi AppTec Co. Ltd., H Shares(b) |
608 | 12,998 | ||||||
Wuxi Biologics Cayman, Inc.(a)(b) |
5,325 | 81,048 | ||||||
Xinhua Winshare Publishing and Media Co. Ltd., H Shares |
6,000 | 4,396 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., A Shares |
2,700 | 7,818 | ||||||
Xinyi Solar Holdings Ltd.(c) |
7,162 | 14,989 | ||||||
XPeng, Inc., ADR(a) |
764 | 35,625 | ||||||
Yadea Group Holdings Ltd.(b)(c) |
1,604 | 2,763 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. |
4,071 | 4,287 | ||||||
Yanlord Land Group Ltd. |
3,128 | 2,598 | ||||||
Yantai Eddie Precision Machinery Co. Ltd., A Shares |
820 | 4,577 | ||||||
Yanzhou Coal Mining Co. Ltd., H Shares(c) |
5,007 | 7,428 | ||||||
Yihai International Holding Ltd.(a) |
961 | 5,652 | ||||||
Yonyou Network Technology Co. Ltd., A Shares |
930 | 4,621 | ||||||
Yunnan Baiyao Group Co. Ltd., A Shares |
300 | 4,200 | ||||||
Yunnan Energy New Material Co. Ltd., A Shares |
100 | 4,559 | ||||||
Zai Lab Ltd., ADR(a) |
100 | 10,440 | ||||||
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., A Shares |
100 | 6,453 | ||||||
Zhefu Holding Group Co. Ltd., A Shares |
7,500 | 8,392 | ||||||
Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., A Shares |
600 | 7,164 | ||||||
Zhengqi Holdings Co. Ltd., Rts., TBA(a)(d) |
15 | 0 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
31 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
China-(continued) |
||||||||
ZhongAn Online P&C Insurance Co. Ltd., H Shares(a)(b)(c) |
750 | $ | 2,753 | |||||
Zhongsheng Group Holdings Ltd. |
1,366 | 12,353 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd., H Shares(a) |
1,125 | 5,394 | ||||||
Zijin Mining Group Co. Ltd., H Shares |
10,924 | 15,222 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., H Shares |
4,186 | 3,024 | ||||||
ZTE Corp., H Shares |
1,737 | 5,225 | ||||||
ZTO Express Cayman, Inc., ADR |
307 | 9,004 | ||||||
|
|
|||||||
4,346,831 | ||||||||
|
|
|||||||
Colombia-0.25% |
||||||||
Bancolombia S.A. |
482 | 4,278 | ||||||
Bancolombia S.A., Preference Shares |
786 | 7,000 | ||||||
Cementos Argos S.A. |
999 | 1,672 | ||||||
Ecopetrol S.A. |
7,638 | 5,730 | ||||||
Grupo Argos S.A. |
499 | 1,551 | ||||||
Grupo de Inversiones Suramericana S.A. |
496 | 2,869 | ||||||
Interconexion Electrica S.A. ESP |
838 | 4,993 | ||||||
|
|
|||||||
28,093 | ||||||||
|
|
|||||||
Czech Republic-0.14% |
||||||||
CEZ A.S. |
156 | 5,155 | ||||||
Komercni banka A.S.(a) |
130 | 5,049 | ||||||
Moneta Money Bank A.S.(a)(b) |
1,085 | 4,246 | ||||||
O2 Czech Republic A.S.(a) |
106 | 1,218 | ||||||
|
|
|||||||
15,668 | ||||||||
|
|
|||||||
Egypt-0.18% |
||||||||
Commercial International Bank Egypt S.A.E.(a) |
2,368 | 7,689 | ||||||
Eastern Co. S.A.E. |
1,723 | 1,272 | ||||||
Egypt Kuwait Holding Co. S.A.E.(a) |
6,410 | 8,840 | ||||||
Fawry for Banking & Payment Technology Services SAE(a) |
2,810 | 2,690 | ||||||
|
|
|||||||
20,491 | ||||||||
|
|
|||||||
Greece-0.32% |
||||||||
Alpha Services and Holdings S.A.(a) |
3,796 | 4,826 | ||||||
Eurobank Ergasias Services and Holdings S.A.(a) |
3,741 | 3,911 | ||||||
Hellenic Petroleum S.A. |
142 | 979 | ||||||
Hellenic Telecommunications Organization S.A. |
424 | 7,507 | ||||||
JUMBO S.A. |
206 | 3,061 | ||||||
Motor Oil Hellas Corinth Refineries S.A.(a) |
122 | 2,073 | ||||||
Mytilineos S.A. |
202 | 3,686 | ||||||
National Bank of Greece S.A.(a) |
1,091 | 3,434 | ||||||
OPAP S.A. |
348 | 5,417 | ||||||
Piraeus Financial Holdings S.A.(a) |
603 | 1,026 | ||||||
Public Power Corp. S.A.(a) |
21 | 228 | ||||||
Terna Energy S.A. |
25 | 338 | ||||||
|
|
|||||||
36,486 | ||||||||
|
|
|||||||
Hong Kong-0.11% |
||||||||
Alibaba Pictures Group Ltd.(a)(c) |
45,836 | 4,890 | ||||||
Kingboard Laminates Holdings Ltd. |
1,960 | 3,074 | ||||||
Nine Dragons Paper Holdings Ltd.(a) |
3,701 | 4,653 | ||||||
|
|
|||||||
12,617 | ||||||||
|
|
|||||||
Hungary-0.32% |
||||||||
Gedeon Richter PLC |
258 | 7,234 | ||||||
Magyar Telekom Telecommunications PLC |
945 | 1,304 |
Shares | Value | |||||||
Hungary-(continued) |
||||||||
MOL Hungarian Oil & Gas PLC |
737 | $ | 6,304 | |||||
OTP Bank Nyrt(a) |
360 | 21,642 | ||||||
|
|
|||||||
36,484 | ||||||||
|
|
|||||||
India-6.72% |
||||||||
Axis Bank Ltd., GDR(a)(b) |
1,287 | 69,884 | ||||||
Dr. Reddy’s Laboratories Ltd., ADR |
602 | 36,987 | ||||||
GAIL (India) Ltd., GDR(b) |
11,660 | 142,252 | ||||||
Infosys Ltd., ADR |
4,062 | 90,501 | ||||||
Larsen & Toubro Ltd., GDR(b)(c) |
2,879 | 70,248 | ||||||
Mahindra & Mahindra Ltd., GDR(b) |
3,709 | 44,508 | ||||||
Reliance Industries Ltd., GDR(b) |
1,627 | 110,636 | ||||||
State Bank of India, GDR(b) |
869 | 58,744 | ||||||
Tata Motors Ltd., ADR(a)(c) |
1,323 | 41,780 | ||||||
Tata Steel Ltd., GDR(b) |
3,259 | 58,662 | ||||||
Wipro Ltd., ADR |
4,482 | 40,159 | ||||||
|
|
|||||||
764,361 | ||||||||
|
|
|||||||
Indonesia-1.65% |
||||||||
PT Adaro Energy Tbk |
15,285 | 1,812 | ||||||
PT Astra International Tbk |
29,207 | 12,421 | ||||||
PT Bank Central Asia Tbk |
77,230 | 40,748 | ||||||
PT Bank Mandiri (Persero) Tbk |
31,767 | 16,088 | ||||||
PT Bank Negara Indonesia (Persero) Tbk |
14,011 | 6,923 | ||||||
PT Bank Rakyat Indonesia (Persero) Tbk |
97,388 | 29,215 | ||||||
PT Bank Syariah Indonesia Tbk(a) |
4,600 | 685 | ||||||
PT Barito Pacific Tbk |
51,383 | 3,391 | ||||||
PT Bukit Asam Tbk |
8,073 | 1,527 | ||||||
PT Bumi Serpong Damai Tbk(a) |
10,500 | 823 | ||||||
PT Charoen Pokphand Indonesia Tbk |
13,269 | 5,807 | ||||||
PT Gudang Garam Tbk |
912 | 2,156 | ||||||
PT Hanjaya Mandala Sampoerna Tbk |
20,390 | 1,490 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk |
4,712 | 2,819 | ||||||
PT Indocement Tunggal Prakarsa Tbk |
2,552 | 2,130 | ||||||
PT Indofood CBP Sukses Makmur Tbk |
4,872 | 3,026 | ||||||
PT Indofood Sukses Makmur Tbk |
8,654 | 3,879 | ||||||
PT Jasa Marga (Persero) Tbk(a) |
3,500 | 1,038 | ||||||
PT Kalbe Farma Tbk |
33,966 | 3,836 | ||||||
PT Media Nusantara Citra Tbk |
1,800 | 114 | ||||||
PT Sarana Menara Nusantara Tbk |
34,700 | 2,841 | ||||||
PT Semen Indonesia (Persero) Tbk |
5,637 | 3,621 | ||||||
PT Smartfren Telecom Tbk(a) |
179,900 | 1,371 | ||||||
PT Surya Citra Media Tbk(a) |
68,895 | 2,042 | ||||||
PT Telkom Indonesia (Persero) Tbk |
81,354 | 21,821 | ||||||
PT Tower Bersama Infrastructure Tbk |
18,024 | 3,740 | ||||||
PT Unilever Indonesia Tbk |
10,897 | 3,400 | ||||||
PT United Tractors Tbk |
2,900 | 4,820 | ||||||
PT Vale Indonesia Tbk |
5,060 | 1,732 | ||||||
PT XL Axiata Tbk |
10,500 | 2,283 | ||||||
|
|
|||||||
187,599 | ||||||||
|
|
|||||||
Kuwait-0.67% |
||||||||
Agility Public Warehousing Co. KSC |
2,039 | 6,764 | ||||||
Boubyan Bank KSCP(a) |
1,659 | 4,304 | ||||||
Boubyan Petrochemicals Co. KSCP |
1,167 | 3,562 | ||||||
Gulf Bank KSCP |
3,058 | 2,495 | ||||||
Humansoft Holding Co. KSC |
170 | 1,888 | ||||||
Kuwait Finance House KSCP |
5,727 | 15,806 | ||||||
Mabanee Co. K.P.S.C. |
981 | 2,561 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
32 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
Kuwait-(continued) |
||||||||
Mobile Telecommunications Co. KSCP |
1,375 | $ | 2,719 | |||||
National Bank of Kuwait SAKP |
11,086 | 36,408 | ||||||
|
|
|||||||
76,507 | ||||||||
|
|
|||||||
Luxembourg-0.02% |
||||||||
Reinet Investments S.C.A. |
150 | 2,721 | ||||||
|
|
|||||||
Malaysia-1.96% |
||||||||
AirAsia Group Bhd.(a) |
3,400 | 952 | ||||||
Alliance Bank Malaysia Bhd. |
1,988 | 1,320 | ||||||
AMMB Holdings Bhd.(a) |
4,888 | 3,966 | ||||||
Axiata Group Bhd. |
8,317 | 7,933 | ||||||
British American Tobacco Malaysia Bhd. |
374 | 1,364 | ||||||
CIMB Group Holdings Bhd. |
13,147 | 16,573 | ||||||
Dialog Group Bhd. |
8,393 | 5,736 | ||||||
DiGi.Com Bhd. |
8,384 | 8,564 | ||||||
FGV Holdings Bhd. |
4,777 | 1,730 | ||||||
Fraser & Neave Holdings Bhd. |
352 | 2,300 | ||||||
Genting Bhd. |
4,381 | 5,480 | ||||||
Genting Malaysia Bhd. |
5,176 | 3,962 | ||||||
HAP Seng Consolidated Bhd. |
1,164 | 2,204 | ||||||
Hartalega Holdings Bhd. |
3,089 | 4,371 | ||||||
Hong Leong Bank Bhd. |
1,161 | 5,277 | ||||||
Hong Leong Financial Group Bhd. |
420 | 1,860 | ||||||
IHH Healthcare Bhd. |
5,600 | 8,844 | ||||||
IOI Corp. Bhd. |
5,956 | 5,653 | ||||||
IOI Properties Group Bhd. |
4,783 | 1,478 | ||||||
Kuala Lumpur Kepong Bhd. |
406 | 2,120 | ||||||
Malayan Banking Bhd. |
7,082 | 13,767 | ||||||
Malaysia Airports Holdings Bhd.(a) |
1,660 | 2,598 | ||||||
Maxis Bhd. |
4,830 | 5,447 | ||||||
MISC Bhd. |
2,460 | 4,200 | ||||||
Nestle Malaysia Bhd. |
170 | 5,522 | ||||||
Petronas Chemicals Group Bhd. |
5,602 | 11,756 | ||||||
Petronas Dagangan Bhd. |
420 | 2,065 | ||||||
PPB Group Bhd. |
1,183 | 5,194 | ||||||
Press Metal Aluminium Holdings Bhd. |
6,094 | 8,182 | ||||||
Public Bank Bhd. |
24,370 | 24,541 | ||||||
QL Resources Bhd. |
2,349 | 2,865 | ||||||
RHB Bank Bhd. |
3,276 | 4,414 | ||||||
Sime Darby Bhd. |
7,079 | 3,881 | ||||||
Sime Darby Plantation Bhd. |
6,045 | 5,854 | ||||||
Sime Darby Property Bhd. |
9,149 | 1,602 | ||||||
Supermax Corp. Bhd. |
3,000 | 1,391 | ||||||
Telekom Malaysia Bhd. |
1,617 | 2,261 | ||||||
Tenaga Nasional Bhd. |
6,547 | 15,273 | ||||||
Top Glove Corp. Bhd. |
8,768 | 5,759 | ||||||
Westports Holdings Bhd. |
2,455 | 2,650 | ||||||
YTL Corp. Bhd. |
11,893 | 1,809 | ||||||
|
|
|||||||
222,718 | ||||||||
|
|
|||||||
Mexico-2.40% |
||||||||
Alfa S.A.B. de C.V., Class A |
4,233 | 3,072 | ||||||
Alpek S.A.B. de C.V. |
200 | 219 | ||||||
America Movil S.A.B. de C.V., Series L |
49,399 | 44,126 | ||||||
Arca Continental S.A.B. de C.V. |
732 | 4,473 | ||||||
Banco del Bajio S.A.(b) |
1,200 | 2,258 | ||||||
Becle S.A.B. de C.V. |
1,155 | 2,646 | ||||||
Cemex S.A.B. de C.V., Series CPO(a)(e) |
22,956 | 14,795 | ||||||
Coca-Cola FEMSA S.A.B. de C.V., Series L |
895 | 4,834 |
Shares | Value | |||||||
Mexico-(continued) |
||||||||
Controladora Vuela Cia de Aviacion S.A.B. de C.V., Class A(a) |
2,600 | $ | 4,740 | |||||
El Puerto de Liverpool S.A.B. de C.V., Series C-1(c) |
416 | 1,845 | ||||||
Fibra Uno Administracion S.A. de C.V. |
4,221 | 4,204 | ||||||
Fomento Economico Mexicano, S.A.B. de C.V., Series CPO(f) |
3,011 | 24,809 | ||||||
GCC SAB de C.V. |
300 | 2,237 | ||||||
Gruma S.A.B. de C.V., Class B(c) |
407 | 4,790 | ||||||
Grupo Aeroportuario del Centro Norte S.A.B. de C.V.(a) |
616 | 3,725 | ||||||
Grupo Aeroportuario del Pacifico S.A.B. de C.V., Class B(c) |
624 | 7,883 | ||||||
Grupo Aeroportuario del Sureste S.A.B. de C.V., Class B |
252 | 5,093 | ||||||
Grupo Bimbo S.A.B. de C.V., Series A |
4,492 | 13,325 | ||||||
Grupo Carso S.A.B. de C.V., Series A1 |
888 | 2,993 | ||||||
Grupo Elektra S.A.B. de C.V. |
92 | 7,080 | ||||||
Grupo Financiero Banorte S.A.B. de C.V., Class O |
4,750 | 30,140 | ||||||
Grupo Financiero Inbursa S.A.B. de C.V., Class O(a) |
4,784 | 4,814 | ||||||
Grupo Mexico S.A.B. de C.V., Class B |
5,205 | 22,884 | ||||||
Grupo Televisa S.A.B., Series CPO(g) |
4,330 | 8,810 | ||||||
Industrias Penoles S.A.B. de C.V.(a) |
232 | 2,981 | ||||||
Kimberly-Clark de Mexico S.A.B. de C.V., Class A |
2,519 | 3,994 | ||||||
Megacable Holdings S.A.B. de C.V., Series CPO(h) |
416 | 1,228 | ||||||
Orbia Advance Corp. S.A.B. de C.V. |
1,936 | 5,043 | ||||||
Promotora y Operadora de Infraestructura S.A.B de C.V. |
329 | 2,425 | ||||||
Telesites S.A.B. de C.V. |
4,408 | 4,030 | ||||||
Wal-Mart de Mexico S.A.B. de C.V., Series V |
7,777 | 27,185 | ||||||
|
|
|||||||
272,681 | ||||||||
|
|
|||||||
Philippines-0.93% |
||||||||
Aboitiz Power Corp. |
3,670 | 2,340 | ||||||
Alliance Global Group, Inc. |
8,830 | 1,822 | ||||||
Ayala Corp. |
404 | 6,916 | ||||||
Ayala Land, Inc. |
12,704 | 8,846 | ||||||
Bank of the Philippine Islands |
3,472 | 5,989 | ||||||
BDO Unibank, Inc. |
3,720 | 9,158 | ||||||
Bloomberry Resorts Corp.(a) |
3,600 | 486 | ||||||
DMCI Holdings, Inc. |
4,700 | 741 | ||||||
Globe Telecom, Inc. |
40 | 2,377 | ||||||
GT Capital Holdings, Inc. |
208 | 2,331 | ||||||
International Container Terminal Services, Inc. |
1,553 | 5,545 | ||||||
JG Summit Holdings, Inc. |
5,249 | 6,268 | ||||||
Jollibee Foods Corp. |
648 | 3,023 | ||||||
LT Group, Inc. |
4,832 | 964 | ||||||
Manila Electric Co. |
444 | 2,528 | ||||||
Megaworld Corp. |
25,765 | 1,569 | ||||||
Metro Pacific Investments Corp. |
31,843 | 2,369 | ||||||
Metropolitan Bank & Trust Co. |
3,726 | 3,526 | ||||||
PLDT, Inc. |
209 | 6,808 | ||||||
San Miguel Corp. |
567 | 1,315 | ||||||
San Miguel Food and Beverage, Inc. |
949 | 1,431 | ||||||
Semirara Mining & Power Corp. |
1,400 | 722 | ||||||
SM Investments Corp. |
767 | 14,683 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
33 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
Philippines-(continued) |
||||||||
SM Prime Holdings, Inc. |
16,328 | $ | 10,721 | |||||
Universal Robina Corp. |
1,353 | 3,704 | ||||||
|
|
|||||||
106,182 | ||||||||
|
|
|||||||
Qatar-0.98% |
||||||||
Barwa Real Estate Co. |
3,358 | 2,905 | ||||||
Commercial Bank P.S.Q.C. (The) |
3,493 | 5,862 | ||||||
Doha Bank Q.P.S.C. |
2,677 | 2,120 | ||||||
Industries Qatar Q.S.C. |
2,643 | 11,513 | ||||||
Masraf Al Rayan Q.S.C. |
6,474 | 8,490 | ||||||
Mesaieed Petrochemical Holding Co. Q.P.S.C. |
7,637 | 5,034 | ||||||
Ooredoo Q.P.S.C. |
902 | 1,714 | ||||||
Qatar Aluminum Manufacturing Co. |
4,819 | 2,510 | ||||||
Qatar Electricity & Water Co. Q.S.C. |
886 | 4,088 | ||||||
Qatar Fuel Co. Q.P.S.C. |
554 | 2,798 | ||||||
Qatar Gas Transport Co. Ltd. |
4,784 | 4,270 | ||||||
Qatar Insurance Co. (S.A.Q.)(a) |
2,820 | 1,898 | ||||||
Qatar International Islamic Bank Q.S.C. |
1,308 | 3,517 | ||||||
Qatar Islamic Bank (S.A.Q) |
2,040 | 10,321 | ||||||
Qatar National Bank Q.P.S.C. |
7,430 | 41,833 | ||||||
United Development Co. Q.S.C. |
3,058 | 1,304 | ||||||
Vodafone Qatar Q.S.C. |
2,903 | 1,292 | ||||||
|
|
|||||||
111,469 | ||||||||
|
|
|||||||
Romania-0.04% |
||||||||
NEPI Rockcastle PLC. |
619 | 4,170 | ||||||
|
|
|||||||
Russia-3.78% |
||||||||
Aeroflot PJSC(a) |
5,333 | 5,169 | ||||||
Alrosa PJSC |
3,816 | 6,718 | ||||||
Gazprom PJSC |
15,842 | 78,124 | ||||||
Inter RAO UES PJSC |
61,223 | 4,145 | ||||||
Lukoil PJSC |
638 | 65,089 | ||||||
Magnit PJSC |
130 | 11,847 | ||||||
Magnitogorsk Iron & Steel Works PJSC |
2,624 | 2,447 | ||||||
MMC Norilsk Nickel PJSC |
83 | 25,880 | ||||||
Mobile TeleSystems PJSC |
1,645 | 7,188 | ||||||
Moscow Exchange MICEX-RTS PJSC |
2,536 | 6,213 | ||||||
Novatek PJSC |
1,747 | 44,275 | ||||||
Novolipetsk Steel PJSC |
1,662 | 5,238 | ||||||
PhosAgro PJSC |
85 | 6,710 | ||||||
Polyus PJSC |
48 | 9,521 | ||||||
Raspadskaya OJSC |
390 | 2,370 | ||||||
Rosneft Oil Co. PJSC |
1,523 | 13,663 | ||||||
Rostelecom PJSC |
1,754 | 2,304 | ||||||
RusHydro PJSC |
166,776 | 1,911 | ||||||
Sberbank of Russia PJSC |
14,480 | 72,666 | ||||||
Severstal PAO |
325 | 7,378 | ||||||
Sistema PJSFC |
11,510 | 4,373 | ||||||
Surgutneftegas PJSC |
11,999 | 5,768 | ||||||
Surgutneftegas PJSC, Preference Shares |
10,928 | 5,948 | ||||||
Tatneft PJSC |
2,739 | 20,901 | ||||||
Transneft PJSC, Preference Shares |
1 | 2,143 | ||||||
United Co. RUSAL International PJSC(a) |
5,170 | 5,243 | ||||||
VTB Bank PJSC |
9,276,526 | 6,915 | ||||||
|
|
|||||||
430,147 | ||||||||
|
|
|||||||
Saudi Arabia-3.97% |
||||||||
Abdullah Al Othaim Markets Co. |
107 | 3,303 | ||||||
Advanced Petrochemical Co. |
524 | 10,394 | ||||||
Al Rajhi Bank |
1,698 | 62,743 | ||||||
Almarai Co. JSC |
154 | 2,172 |
Shares | Value | |||||||
Saudi Arabia-(continued) |
||||||||
Arab National Bank |
784 | $ | 4,811 | |||||
Arabian Centres Co. Ltd. |
732 | 4,976 | ||||||
Bank AlBilad(a) |
1,068 | 12,016 | ||||||
Banque Saudi Fransi |
966 | 10,881 | ||||||
Bupa Arabia for Cooperative Insurance Co. |
205 | 7,903 | ||||||
Company for Cooperative Insurance (The) |
252 | 5,778 | ||||||
Dallah Healthcare Co. |
230 | 4,445 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. |
103 | 4,553 | ||||||
Emaar Economic City(a) |
1,043 | 3,531 | ||||||
Etihad Etisalat Co. |
304 | 2,452 | ||||||
Fawaz Abdulaziz Al Hokair & Co.(a) |
514 | 2,634 | ||||||
Jarir Marketing Co. |
175 | 9,462 | ||||||
Mobile Telecommunications Co.(a) |
1,334 | 4,830 | ||||||
Mouwasat Medical Services Co. |
95 | 4,554 | ||||||
National Industrialization Co.(a) |
976 | 6,479 | ||||||
National Petrochemical Co. |
509 | 6,527 | ||||||
Qassim Cement Co. (The) |
210 | 4,568 | ||||||
Rabigh Refining & Petrochemical Co.(a) |
259 | 1,968 | ||||||
Riyad Bank |
1,673 | 13,180 | ||||||
SABIC Agri-Nutrients Co. |
478 | 20,899 | ||||||
Sahara International Petrochemical Co. |
990 | 11,587 | ||||||
Saudi Airlines Catering Co.(a) |
332 | 8,409 | ||||||
Saudi Arabian Mining Co.(a) |
672 | 14,619 | ||||||
Saudi Arabian Oil Co.(b) |
2,403 | 24,184 | ||||||
Saudi Basic Industries Corp. |
985 | 33,876 | ||||||
Saudi British Bank (The) |
1,459 | 12,894 | ||||||
Saudi Cement Co. |
241 | 3,804 | ||||||
Saudi Electricity Co. |
684 | 5,197 | ||||||
Saudi Ground Services Co.(a) |
360 | 3,580 | ||||||
Saudi Industrial Investment Group |
656 | 6,620 | ||||||
Saudi Kayan Petrochemical Co.(a) |
1,719 | 9,331 | ||||||
Saudi National Bank (The) |
3,054 | 53,656 | ||||||
Saudi Research & Media Group(a) |
105 | 4,731 | ||||||
Saudi Telecom Co |
707 | 22,053 | ||||||
Saudia Dairy & Foodstuff Co. |
142 | 6,209 | ||||||
Savola Group (The) |
257 | 2,508 | ||||||
Southern Province Cement Co. |
349 | 6,662 | ||||||
Yanbu National Petrochemical Co., Class A |
281 | 5,701 | ||||||
|
|
|||||||
450,680 | ||||||||
|
|
|||||||
South Africa-3.72% |
||||||||
Absa Group Ltd. |
1,154 | 10,629 | ||||||
African Rainbow Minerals Ltd. |
202 | 2,705 | ||||||
Anglo American Platinum Ltd. |
93 | 9,443 | ||||||
Aspen Pharmacare Holdings Ltd. |
655 | 10,482 | ||||||
AVI Ltd.(c) |
377 | 1,962 | ||||||
Barloworld Ltd. |
420 | 3,545 | ||||||
Bid Corp. Ltd. |
539 | 11,625 | ||||||
Bidvest Group Ltd. (The) |
617 | 7,769 | ||||||
Capitec Bank Holdings Ltd. |
128 | 14,373 | ||||||
Clicks Group Ltd. |
464 | 8,512 | ||||||
Coronation Fund Managers Ltd. |
572 | 1,905 | ||||||
Dis-Chem Pharmacies Ltd.(b) |
1,309 | 2,751 | ||||||
Discovery Ltd.(a) |
679 | 6,251 | ||||||
Distell Group Holdings Ltd.(a) |
140 | 1,683 | ||||||
Exxaro Resources Ltd. |
258 | 2,839 | ||||||
FirstRand Ltd. |
7,599 | 29,001 | ||||||
Fortress REIT Ltd., Class A |
2,267 | 1,984 | ||||||
Foschini Group Ltd. (The)(a) |
430 | 3,669 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
34 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
South Africa-(continued) |
||||||||
Gold Fields Ltd. |
1,455 | $ | 13,718 | |||||
Growthpoint Properties Ltd. |
5,368 | 4,577 | ||||||
Harmony Gold Mining Co. Ltd. |
905 | 3,304 | ||||||
Impala Platinum Holdings Ltd. |
1,206 | 15,709 | ||||||
Investec Ltd. |
429 | 1,976 | ||||||
Kumba Iron Ore Ltd. |
109 | 3,329 | ||||||
Liberty Holdings Ltd.(a) |
258 | 1,532 | ||||||
Life Healthcare Group Holdings Ltd.(a) |
2,776 | 4,442 | ||||||
Momentum Metropolitan Holdings |
1,541 | 1,993 | ||||||
Mr Price Group Ltd. |
364 | 4,788 | ||||||
MTN Group Ltd.(a) |
2,831 | 25,512 | ||||||
MultiChoice Group(c) |
799 | 6,385 | ||||||
Naspers Ltd., Class N |
325 | 55,381 | ||||||
Nedbank Group Ltd.(c) |
562 | 6,430 | ||||||
Netcare Ltd.(a) |
2,922 | 3,251 | ||||||
Northam Platinum Holdings Ltd.(a) |
536 | 8,066 | ||||||
Old Mutual Ltd. |
4,668 | 4,788 | ||||||
Pepkor Holdings Ltd.(a)(b) |
1,503 | 2,376 | ||||||
Pick n Pay Stores Ltd. |
574 | 2,254 | ||||||
Rand Merchant Investment Holdings Ltd.(c) |
1,515 | 4,068 | ||||||
Redefine Properties Ltd.(a) |
8,068 | 2,389 | ||||||
Remgro Ltd. |
987 | 8,742 | ||||||
Resilient REIT Ltd. |
468 | 1,724 | ||||||
Royal Bafokeng Platinum Ltd. |
333 | 2,400 | ||||||
Sanlam Ltd. |
2,874 | 11,865 | ||||||
Santam Ltd. |
131 | 2,189 | ||||||
Sappi Ltd.(a) |
1,118 | 3,430 | ||||||
Sasol Ltd.(a) |
882 | 14,890 | ||||||
Shoprite Holdings Ltd. |
885 | 10,567 | ||||||
Sibanye Stillwater Ltd.(c) |
4,455 | 15,633 | ||||||
SPAR Group Ltd. (The) |
340 | 4,361 | ||||||
Standard Bank Group Ltd.(c) |
2,040 | 18,176 | ||||||
Telkom S.A. SOC Ltd.(a) |
639 | 2,133 | ||||||
Tiger Brands Ltd. |
328 | 4,158 | ||||||
Truworths International Ltd. |
893 | 3,168 | ||||||
Vodacom Group Ltd. |
742 | 6,618 | ||||||
Woolworths Holdings Ltd. |
1,462 | 5,185 | ||||||
|
|
|||||||
422,635 | ||||||||
|
|
|||||||
Taiwan-16.55% |
||||||||
Accton Technology Corp. |
1,001 | 8,765 | ||||||
Acer, Inc. |
5,145 | 4,810 | ||||||
Advantech Co. Ltd. |
763 | 9,960 | ||||||
ASE Technology Holding Co. Ltd. |
5,728 | 20,557 | ||||||
Asia Cement Corp. |
3,972 | 6,328 | ||||||
ASMedia Technology, Inc. |
76 | 4,441 | ||||||
Asustek Computer, Inc. |
945 | 11,996 | ||||||
AU Optronics Corp. |
14,691 | 10,143 | ||||||
Capital Securities Corp. |
4,241 | 2,310 | ||||||
Catcher Technology Co. Ltd. |
665 | 3,850 | ||||||
Cathay Financial Holding Co. Ltd. |
13,300 | 27,788 | ||||||
Chailease Holding Co. Ltd. |
1,858 | 17,773 | ||||||
Chang Hwa Commercial Bank Ltd. |
12,153 | 7,167 | ||||||
Cheng Shin Rubber Industry Co. Ltd. |
3,887 | 4,766 | ||||||
Chicony Electronics Co. Ltd. |
2,083 | 5,947 | ||||||
China Airlines Ltd.(a) |
3,764 | 2,328 | ||||||
China Development Financial Holding Corp. |
20,241 | 10,336 | ||||||
China Steel Corp. |
20,603 | 24,894 | ||||||
Chunghwa Telecom Co. Ltd. |
5,916 | 23,508 | ||||||
Compal Electronics, Inc. |
7,687 | 6,759 |
Shares | Value | |||||||
Taiwan-(continued) |
||||||||
CTBC Financial Holding Co. Ltd. |
25,821 | $ | 21,542 | |||||
Delta Electronics, Inc. |
3,594 | 31,664 | ||||||
E.Sun Financial Holding Co. Ltd. |
17,170 | 16,393 | ||||||
Eclat Textile Co. Ltd. |
282 | 6,155 | ||||||
ENNOSTAR, Inc.(a) |
1,373 | 3,604 | ||||||
Eva Airways Corp.(a) |
4,125 | 2,796 | ||||||
Evergreen Marine Corp. Taiwan Ltd. |
4,192 | 14,999 | ||||||
Far Eastern International Bank |
3,694 | 1,388 | ||||||
Far Eastern New Century Corp. |
7,789 | 8,151 | ||||||
Far EasTone Telecommunications Co. Ltd. |
3,264 | 7,183 | ||||||
Feng TAY Enterprise Co. Ltd. |
854 | 6,633 | ||||||
First Financial Holding Co. Ltd. |
16,460 | 13,555 | ||||||
Formosa Chemicals & Fibre Corp. |
5,470 | 15,835 | ||||||
Formosa Petrochemical Corp. |
1,145 | 4,117 | ||||||
Formosa Plastics Corp. |
7,867 | 30,412 | ||||||
Formosa Taffeta Co. Ltd. |
3,535 | 3,814 | ||||||
Foxconn Technology Co. Ltd. |
1,991 | 4,926 | ||||||
Fubon Financial Holding Co. Ltd. |
12,871 | 34,065 | ||||||
Giant Manufacturing Co. Ltd. |
379 | 4,395 | ||||||
Globalwafers Co. Ltd. |
378 | 10,331 | ||||||
Hiwin Technologies Corp. |
414 | 4,600 | ||||||
Hon Hai Precision Industry Co. Ltd. |
18,440 | 70,952 | ||||||
Hotai Motor Co. Ltd. |
439 | 9,661 | ||||||
HTC Corp.(a) |
3,379 | 7,971 | ||||||
Hua Nan Financial Holdings Co. Ltd. |
14,842 | 10,861 | ||||||
Innolux Corp. |
14,000 | 8,407 | ||||||
Inventec Corp. |
5,466 | 5,219 | ||||||
Largan Precision Co. Ltd. |
180 | 13,399 | ||||||
Lite-On Technology Corp. |
2,846 | 6,274 | ||||||
MediaTek, Inc. |
2,304 | 75,644 | ||||||
Mega Financial Holding Co. Ltd. |
16,848 | 20,236 | ||||||
Micro-Star International Co. Ltd. |
1,324 | 6,666 | ||||||
momo.com, Inc. |
91 | 5,858 | ||||||
Nan Ya Plastics Corp. |
8,050 | 24,635 | ||||||
Nan Ya Printed Circuit Board Corp. |
395 | 6,967 | ||||||
Nien Made Enterprise Co. Ltd. |
135 | 1,854 | ||||||
Novatek Microelectronics Corp. |
973 | 14,538 | ||||||
Oneness Biotech Co. Ltd.(a) |
356 | 3,354 | ||||||
Pegatron Corp. |
2,910 | 7,116 | ||||||
Pou Chen Corp. |
4,194 | 5,143 | ||||||
President Chain Store Corp. |
1,057 | 10,681 | ||||||
Quanta Computer, Inc. |
4,516 | 12,667 | ||||||
Realtek Semiconductor Corp. |
843 | 15,127 | ||||||
Shanghai Commercial & Savings Bank Ltd. (The) |
5,884 | 9,310 | ||||||
Shin Kong Financial Holding Co. Ltd. |
20,108 | 7,093 | ||||||
Sino-American Silicon Products, Inc. |
714 | 4,866 | ||||||
SinoPac Financial Holdings Co. Ltd. |
19,887 | 10,119 | ||||||
Synnex Technology International Corp. |
3,674 | 7,108 | ||||||
Taishin Financial Holding Co. Ltd. |
13,304 | 8,731 | ||||||
Taiwan Business Bank |
8,730 | 2,970 | ||||||
Taiwan Cement Corp. |
7,343 | 12,741 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. |
16,775 | 13,633 | ||||||
Taiwan Fertilizer Co. Ltd. |
2,552 | 6,231 | ||||||
Taiwan Glass Industry Corp. |
2,939 | 2,885 | ||||||
Taiwan Mobile Co. Ltd. |
1,752 | 6,181 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
37,927 | 804,679 | ||||||
Teco Electric and Machinery Co. Ltd. |
4,664 | 5,057 | ||||||
Transcend Information, Inc. |
2,000 | 4,855 | ||||||
U-Ming Marine Transport Corp. |
1,000 | 1,892 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
35 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
Taiwan-(continued) |
||||||||
Unimicron Technology Corp. |
2,086 | $ | 14,252 | |||||
Uni-President Enterprises Corp. |
7,513 | 17,993 | ||||||
United Microelectronics Corp. |
18,948 | 39,520 | ||||||
Vanguard International Semiconductor Corp. |
1,713 | 8,901 | ||||||
Voltronic Power Technology Corp. |
93 | 5,434 | ||||||
Walsin Lihwa Corp. |
5,145 | 4,801 | ||||||
Walsin Technology Corp.(a) |
951 | 5,164 | ||||||
Wan Hai Lines Ltd. |
1,351 | 7,773 | ||||||
Win Semiconductors Corp. |
781 | 10,040 | ||||||
Winbond Electronics Corp. |
4,000 | 3,783 | ||||||
Wistron Corp. |
4,188 | 4,398 | ||||||
Wiwynn Corp. |
186 | 5,946 | ||||||
Yageo Corp.(a) |
763 | 11,908 | ||||||
Yang Ming Marine Transport Corp.(a) |
2,505 | 8,693 | ||||||
Yuanta Financial Holding Co. Ltd. |
19,951 | 17,721 | ||||||
Zhen Ding Technology Holding Ltd. |
609 | 2,102 | ||||||
|
|
|||||||
1,880,994 | ||||||||
|
|
|||||||
Tanzania-0.12% |
||||||||
AngloGold Ashanti Ltd. |
710 | 13,326 | ||||||
|
|
|||||||
Thailand-2.28% |
||||||||
Advanced Info Service PCL, NVDR |
1,924 | 10,959 | ||||||
Airports of Thailand PCL, NVDR |
7,613 | 14,798 | ||||||
Asset World Corp. PCL, NVDR(a) |
13,723 | 1,886 | ||||||
B. Grimm Power PCL, NVDR |
1,355 | 1,735 | ||||||
Bangkok Dusit Medical Services PCL, NVDR |
15,568 | 11,025 | ||||||
Bangkok Expressway & Metro PCL, NVDR |
15,548 | 4,217 | ||||||
Banpu PCL, NVDR |
8,538 | 2,933 | ||||||
Berli Jucker PCL, NVDR |
1,924 | 1,957 | ||||||
BTS Group Holdings PCL, NVDR |
15,476 | 4,454 | ||||||
BTS Group Holdings PCL, Wts., expiring 09/05/2022(a) |
584 | 25 | ||||||
BTS Group Holdings PCL, Wts., expiring 11/07/2024(a) |
1,167 | 39 | ||||||
BTS Group Holdings PCL, Wts., expiring 11/20/2026(a) |
2,335 | 63 | ||||||
Bumrungrad Hospital PCL, NVDR |
616 | 2,701 | ||||||
Central Pattana PCL, NVDR |
4,532 | 8,092 | ||||||
Charoen Pokphand Foods PCL, NVDR |
6,430 | 4,893 | ||||||
CP ALL PCL, NVDR |
8,702 | 16,784 | ||||||
Delta Electronics Thailand PCL, NVDR |
456 | 5,717 | ||||||
Electricity Generating PCL, NVDR |
504 | 2,711 | ||||||
Energy Absolute PCL, NVDR |
3,675 | 7,254 | ||||||
Global Power Synergy PCL, NVDR |
1,279 | 3,006 | ||||||
Gulf Energy Development PCL, NVDR |
7,613 | 9,923 | ||||||
Home Product Center PCL, NVDR |
11,134 | 4,899 | ||||||
Indorama Ventures PCL, NVDR |
3,774 | 4,777 | ||||||
Intouch Holdings PCL, NVDR |
4,335 | 9,831 | ||||||
IRPC PCL, NVDR |
19,925 | 2,582 | ||||||
Krung Thai Bank PCL, NVDR |
9,581 | 3,320 | ||||||
Krungthai Card PCL, NVDR |
2,736 | 4,762 | ||||||
Land & Houses PCL, NVDR |
12,945 | 3,296 | ||||||
Minor International PCL, NVDR(a) |
7,034 | 6,942 | ||||||
Muangthai Capital PCL, NVDR |
1,409 | 2,569 | ||||||
Osotspa PCL, NVDR |
2,300 | 2,270 | ||||||
PTT Exploration & Production PCL, NVDR |
2,074 | 7,344 | ||||||
PTT Global Chemical PCL, NVDR |
4,243 | 8,024 | ||||||
PTT PCL, NVDR |
22,051 | 25,252 | ||||||
Ratch Group PCL, NVDR |
1,471 | 2,017 | ||||||
Siam Cement PCL (The), NVDR |
1,451 | 17,273 |
Shares | Value | |||||||
Thailand-(continued) |
||||||||
Siam Commercial Bank PCL (The), NVDR |
4,420 | $ | 16,784 | |||||
Siam Makro PCL, NVDR |
2,884 | 4,172 | ||||||
Srisawad Corp. PCL, NVDR |
1,290 | 2,488 | ||||||
Thai Oil PCL, NVDR |
1,932 | 3,246 | ||||||
Thai Union Group PCL, NVDR |
5,726 | 3,607 | ||||||
TMBThanachart Bank PCL, NVDR |
70,087 | 2,450 | ||||||
Total Access Communication PCL, NVDR |
2,672 | 3,080 | ||||||
True Corp. PCL, NVDR |
27,557 | 3,372 | ||||||
|
|
|||||||
259,529 | ||||||||
|
|
|||||||
Turkey-0.43% |
||||||||
Akbank T.A.S. |
4,227 | 2,576 | ||||||
Anadolu Efes Biracilik ve Malt Sanayii A.S. |
884 | 2,041 | ||||||
Arcelik A.S. |
409 | 1,433 | ||||||
Aselsan Elektronik Sanayi Ve Ticaret A.S. |
1,247 | 2,131 | ||||||
BIM Birlesik Magazalar A.S. |
865 | 5,591 | ||||||
Coca-Cola Icecek A.S. |
183 | 1,620 | ||||||
Enka Insaat ve Sanayi A.S. |
1,894 | 2,166 | ||||||
Eregli Demir ve Celik Fabrikalari TAS |
2,106 | 4,313 | ||||||
Ford Otomotiv Sanayi A.S. |
115 | 2,220 | ||||||
Gubre Fabrikalari TAS(a) |
320 | 2,288 | ||||||
Haci Omer Sabanci Holding A.S. |
2,060 | 2,382 | ||||||
KOC Holding A.S. |
1,527 | 3,745 | ||||||
Koza Altin Isletmeleri A.S.(a) |
21 | 234 | ||||||
Petkim Petrokimya Holding A.S.(a) |
2,608 | 1,771 | ||||||
Sasa Polyester Sanayi A.S.(a) |
319 | 1,030 | ||||||
Turk Hava Yollari AO(a) |
2,109 | 3,284 | ||||||
Turkcell Iletisim Hizmetleri A.S. |
1,830 | 2,910 | ||||||
Turkiye Garanti Bankasi A.S. |
2,560 | 2,622 | ||||||
Turkiye Is Bankasi A.S., Class C |
2,601 | 1,523 | ||||||
Turkiye Petrol Rafinerileri A.S.(a) |
146 | 2,123 | ||||||
Turkiye Sise ve Cam Fabrikalari A.S. |
1,458 | 1,313 | ||||||
|
|
|||||||
49,316 | ||||||||
|
|
|||||||
United Arab Emirates-0.97% |
||||||||
Abu Dhabi Commercial Bank PJSC |
4,669 | 10,550 | ||||||
Abu Dhabi Islamic Bank PJSC |
1,601 | 2,546 | ||||||
Abu Dhabi National Oil Co. for Distribution PJSC |
695 | 810 | ||||||
ADNOC Drilling Co. PJSC |
1,821 | 1,477 | ||||||
Air Arabia PJSC(a) |
10,986 | 4,157 | ||||||
Aldar Properties PJSC |
6,788 | 7,466 | ||||||
Dana Gas PJSC |
6,024 | 1,689 | ||||||
Dubai Investments PJSC |
3,672 | 1,700 | ||||||
Dubai Islamic Bank PJSC |
3,188 | 4,435 | ||||||
Emaar Development PJSC(a) |
3,536 | 3,754 | ||||||
Emaar Malls PJSC(a) |
3,532 | 1,923 | ||||||
Emaar Properties PJSC |
5,047 | 5,510 | ||||||
Emirates NBD Bank PJSC |
2,527 | 9,597 | ||||||
Emirates Telecommunications Group Co. PJSC |
3,066 | 21,369 | ||||||
First Abu Dhabi Bank PJSC |
6,851 | 33,237 | ||||||
|
|
|||||||
110,220 | ||||||||
|
|
|||||||
United States-0.17% |
||||||||
JBS S.A. |
1,618 | 11,209 | ||||||
Parade Technologies Ltd. |
124 | 7,959 | ||||||
|
|
|||||||
19,168 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
10,509,165 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
36 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
Shares | Value | |||||||
Exchange-Traded Funds-7.34% |
||||||||
India-7.34% |
||||||||
Invesco India ETF(i) |
18,434 | $ | 518,180 | |||||
iShares MSCI India ETF |
6,470 | 315,995 | ||||||
|
|
|||||||
Total Exchange-Traded Funds |
834,175 | |||||||
|
|
|||||||
Money Market Funds-0.68% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(i)(j) |
76,781 | 76,781 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES (excluding investments
purchased with cash collateral from securities on loan)-100.47% |
11,420,121 | |||||||
|
|
Shares | Value | |||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-3.54% |
||||||||
Invesco Private Government Fund, 0.02%(i)(j)(k) |
120,790 | $ | 120,790 | |||||
Invesco Private Prime Fund, 0.11%(i)(j)(k) |
281,730 | 281,842 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral
from Securities on Loan |
|
402,632 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-104.01% |
11,822,753 | |||||||
OTHER ASSETS LESS LIABILITIES-(4.01)% |
(455,877 | ) | ||||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 11,366,876 | ||||||
|
|
Investment Abbreviations:
ADR-American Depositary Receipt
CPO-Certificates of Ordinary Participation
GDR-Global Depositary Receipt
NVDR-Non-Voting Depositary Receipt
REIT-Real Estate Investment Trust
Rts.-Rights
TBA-To Be Announced
Wts.-Warrants
Notes to Schedule of Investments:
(a) |
Non-income producing security. |
(b) |
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2021 was $1,175,598, which represented 10.34% of the Fund’s Net Assets. |
(c) |
All or a portion of this security was out on loan at October 31, 2021. |
(d) |
Security valued using significant unobservable inputs (Level 3). See Note 4. |
(e) |
Each CPO for Cemex S.A.B. de C.V. represents two Series A shares and one Series B share. |
(f) |
Each CPO for Fomento Economico Mexicano, S.A.B. de C.V. represents one Series B share and four Series D shares. |
(g) |
Each CPO for Grupo Televisa S.A.B. represents twenty-five Series A shares, twenty-two Series B shares, thirty-five Series D shares and thirty-five Series L shares. |
(h) |
Each CPO for Megacable Holdings S.A.B. de C.V. represents two Series shares. |
(i) |
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 fiscal year ended October 31, 2021. |
Value October 31, 2020 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation |
Realized Gain |
Value October 31, 2021 |
Dividend Income | |||||||||||||||||||||||||||||
Invesco India ETF | $110,818 | $ 442,888 | $(124,070 | ) | $85,577 | $2,967 | $518,180 | $3,711 | |||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: | |||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
515 | 3,148,562 | (3,072,296 | ) | - | - | 76,781 | 9 | |||||||||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 8,324 | 722,821 | (610,355 | ) | - | - | 120,790 | 6 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 12,486 | 1,218,243 | (948,889 | ) | - | 2 | 281,842 | 77 | * | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $132,143 | $5,532,514 | $(4,755,610 | ) | $85,577 | $2,969 | $997,593 | $3,803 | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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.
37 | ||||
|
| |||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)–(continued)
October 31, 2021
(j) |
The rate shown is the 7-day SEC standardized yield as of October 31, 2021. |
(k) |
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 2J. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
38 | ||||
|
| |||
Statement of Assets and Liabilities
October 31, 2021
Invesco |
Invesco |
Invesco |
||||||||||||||||||||||||||||||||||
Assets: |
||||||||||||||||||||||||||||||||||||
Unaffiliated investments in securities, at value(a) |
$ | 52,763,048 | $ | 70,364,788 | $ | 10,825,160 | ||||||||||||||||||||||||||||||
Affiliated investments in securities, at value |
5,204,897 | 1,279,968 | 997,593 | |||||||||||||||||||||||||||||||||
Foreign currencies, at value |
- | - | 11,741 | |||||||||||||||||||||||||||||||||
Deposits with brokers: |
||||||||||||||||||||||||||||||||||||
Cash segregated as collateral |
420,549 | 6,148,802 | - | |||||||||||||||||||||||||||||||||
Receivable for: |
||||||||||||||||||||||||||||||||||||
Dividends and interest |
51,464 | 33,999 | 4,227 | |||||||||||||||||||||||||||||||||
Securities lending |
105 | 239 | 141 | |||||||||||||||||||||||||||||||||
Investments sold |
1,182,568 | 28,095 | 24,139 | |||||||||||||||||||||||||||||||||
Fund shares sold |
- | 1,151,570 | - | |||||||||||||||||||||||||||||||||
Foreign tax reclaims |
- | 3,650 | - | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total assets |
59,622,631 | 79,011,111 | 11,863,001 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Liabilities: |
||||||||||||||||||||||||||||||||||||
Due to custodian |
23,740 | - | - | |||||||||||||||||||||||||||||||||
Due to foreign custodian |
- | 5,573 | - | |||||||||||||||||||||||||||||||||
Payable for: |
||||||||||||||||||||||||||||||||||||
Investments purchased |
1,205,839 | 1,175,347 | 92,490 | |||||||||||||||||||||||||||||||||
Collateral upon return of securities loaned |
5,144,346 | 1,119,186 | 402,632 | |||||||||||||||||||||||||||||||||
Collateral upon receipt of securities in-kind |
420,549 | 6,148,802 | - | |||||||||||||||||||||||||||||||||
Accrued unitary management fees |
2,641 | 994 | 1,003 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total liabilities |
6,797,115 | 8,449,902 | 496,125 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net Assets |
$ | 52,825,516 | $ | 70,561,209 | $ | 11,366,876 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net assets consist of: |
||||||||||||||||||||||||||||||||||||
Shares of beneficial interest |
$ | 52,022,958 | $ | 69,926,110 | $ | 11,281,491 | ||||||||||||||||||||||||||||||
Distributable earnings |
802,558 | 635,099 | 85,385 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net Assets |
$ | 52,825,516 | $ | 70,561,209 | $ | 11,366,876 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) |
1,980,001 | 2,400,001 | 400,001 | |||||||||||||||||||||||||||||||||
Net asset value |
$ | 26.68 | $ | 29.40 | $ | 28.42 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Market price |
$ | 26.70 | $ | 29.51 | $ | 28.36 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Unaffiliated investments in securities, at cost |
$ | 52,317,559 | $ | 69,705,673 | $ | 10,625,549 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Affiliated investments in securities, at cost |
$ | 5,204,897 | $ | 1,279,968 | $ | 921,057 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Foreign currencies (due to foreign custodian), at cost |
$ | - | $ | (5,574 | ) | $ | 11,739 | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
(a)Includes securities on loan with an aggregate value of: |
$ | 5,036,273 | $ | 1,027,790 | $ | 380,581 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
39 | ||||
|
| |||
For the year ended October 31, 2021
Invesco |
Invesco |
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) |
||||||||||||||||||||||||||||||||||
Investment income: |
||||||||||||||||||||||||||||||||||||
Unaffiliated interest income |
$ | 1,162,496 | $ | - | $ | - | ||||||||||||||||||||||||||||||
Unaffiliated dividend income |
- | 257,742 | 204,015 | |||||||||||||||||||||||||||||||||
Affiliated dividend income |
9 | 6 | 3,720 | |||||||||||||||||||||||||||||||||
Non-cash dividend income |
- | 15,030 | 11,418 | |||||||||||||||||||||||||||||||||
Securities lending income |
121 | 2,482 | 1,772 | |||||||||||||||||||||||||||||||||
Foreign withholding tax |
- | (28,514 | ) | (20,411 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Total investment income |
1,162,626 | 246,746 | 200,514 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Expenses: |
||||||||||||||||||||||||||||||||||||
Unitary management fees |
18,775 | 6,088 | 10,281 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Less: Waivers |
(7 | ) | (2 | ) | (2,657 | ) | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net expenses |
18,768 | 6,086 | 7,624 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net investment income |
1,143,858 | 240,660 | 192,890 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Realized and unrealized gain (loss) from: |
||||||||||||||||||||||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||||||||||||||||||||||
Unaffiliated investment securities |
13,876 | (53,996 | ) | (97,756 | ) | |||||||||||||||||||||||||||||||
Affiliated investment securities |
- | 6 | 2,969 | |||||||||||||||||||||||||||||||||
In-kind redemptions |
138,120 | - | - | |||||||||||||||||||||||||||||||||
Foreign currencies |
- | 4,048 | (1,740 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net realized gain (loss) |
151,996 | (49,942 | ) | (96,527 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) of: |
||||||||||||||||||||||||||||||||||||
Unaffiliated investment securities |
221,002 | 878,269 | 89,040 | |||||||||||||||||||||||||||||||||
Affiliated investment securities |
- | - | 85,577 | |||||||||||||||||||||||||||||||||
Foreign currencies |
- | (448 | ) | 3 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Change in net unrealized appreciation |
221,002 | 877,821 | 174,620 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net realized and unrealized gain |
372,998 | 827,879 | 78,093 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|||||||||||||||||||||||||||||||
Net increase in net assets resulting from operations |
$ | 1,516,856 | $ | 1,068,539 | $ | 270,983 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
40 | ||||
|
| |||
Statements of Changes in Net Assets
For the years ended October 31, 2021 and 2020
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP) |
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM) |
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) |
||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
Operations: |
||||||||||||||||||||||||
Net investment income |
$ | 1,143,858 | $ | 144,573 | $ | 240,660 | $ | 52,798 | $ | 192,890 | $ | 54,773 | ||||||||||||
Net realized gain (loss) |
151,996 | 97,610 | (49,942 | ) | (23,892 | ) | (96,527 | ) | (71,408 | ) | ||||||||||||||
Change in net unrealized appreciation (depreciation) |
221,002 | 188,262 | 877,821 | (163,973 | ) | 174,620 | 178,125 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net increase (decrease) in net assets resulting from operations |
1,516,856 | 430,445 | 1,068,539 | (135,067 | ) | 270,983 | 161,490 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Distributions to Shareholders from: |
||||||||||||||||||||||||
Distributable earnings |
(872,608 | ) | (88,376 | ) | (176,508 | ) | (53,056 | ) | (157,773 | ) | (75,266 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Shareholder Transactions: |
||||||||||||||||||||||||
Proceeds from shares sold |
42,247,747 | 7,616,756 | 67,426,085 | - | 8,781,479 | - | ||||||||||||||||||
Value of shares repurchased |
(2,936,202 | ) | (2,555,886 | ) | - | - | - | - | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net increase in net assets resulting from share transactions |
39,311,545 | 5,060,870 | 67,426,085 | - | 8,781,479 | - | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net increase (decrease) in net assets |
39,955,793 | 5,402,939 | 68,318,116 | (188,123 | ) | 8,894,689 | 86,224 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Net assets: |
||||||||||||||||||||||||
Beginning of year |
12,869,723 | 7,466,784 | 2,243,093 | 2,431,216 | 2,472,187 | 2,385,963 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
End of year |
$ | 52,825,516 | $ | 12,869,723 | $ | 70,561,209 | $ | 2,243,093 | $ | 11,366,876 | $ | 2,472,187 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Changes in Shares Outstanding: |
||||||||||||||||||||||||
Shares sold |
1,590,000 | 300,000 | 2,300,000 | - | 300,000 | - | ||||||||||||||||||
Shares repurchased |
(110,000 | ) | (100,000 | ) | - | - | - | - | ||||||||||||||||
Shares outstanding, beginning of year |
500,001 | 300,001 | 100,001 | 100,001 | 100,001 | 100,001 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Shares outstanding, end of year |
1,980,001 | 500,001 | 2,400,001 | 100,001 | 400,001 | 100,001 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
41 | ||||
|
| |||
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP)
Years Ended October 31, |
For the Period September 19, 2017(a) Through October 31, 2017 | ||||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||
Per Share Operating Performance: |
|||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 25.74 | $ | 24.89 | $ | 24.40 | $ | 24.99 | $25.00 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Net investment income(b) |
1.12 | 0.35 | 0.59 | 0.63 | 0.06 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
0.53 | 0.71 | 0.39 | (0.55 | ) | (0.07 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Total from investment operations |
1.65 | 1.06 | 0.98 | 0.08 | (0.01 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Distributions to shareholders from: |
|||||||||||||||||||||||||
Net investment income |
(0.69 | ) | (0.21 | ) | (0.49 | ) | (0.67 | ) | - | ||||||||||||||||
Net realized gains |
(0.02 | ) | - | - | - | - | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Total distributions |
(0.71 | ) | (0.21 | ) | (0.49 | ) | (0.67 | ) | - | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Net asset value at end of period |
$ | 26.68 | $ | 25.74 | $ | 24.89 | $ | 24.40 | $24.99 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Market price at end of period(c) |
$ | 26.70 | $ | 25.75 | $ | 24.90 | $ | 24.40 | $24.99 | ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Net Asset Value Total Return(d) |
6.46 | % | 4.28 | % | 4.04 | % | 0.33 | % | (0.04 | )%(e) | |||||||||||||||
Market Price Total Return(d) |
6.50 | % | 4.28 | % | 4.07 | % | 0.33 | % | (0.04 | )%(e) | |||||||||||||||
Ratios/Supplemental Data: |
|||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 52,826 | $ | 12,870 | $ | 7,467 | $ | 2,440 | $2,499 | ||||||||||||||||
Ratio to average net assets of: |
|||||||||||||||||||||||||
Expenses |
0.07 | % | 0.07 | % | 0.20 | %(f) | 0.07 | % | 0.07 | %(g) | |||||||||||||||
Net investment income |
4.26 | % | 1.40 | % | 2.39 | %(f) | 2.53 | % | 2.22 | %(g) | |||||||||||||||
Portfolio turnover rate(h) |
28 | % | 29 | % | 30 | % | 19 | % | 0 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
The mean between the last bid and ask prices. |
(d) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(e) |
The net asset value total return from Fund Inception (September 22, 2017, the first day of trading on the Exchange) to October 31, 2017 was 0.12%. The market price total return from Fund Inception to October 31, 2017 was 0.12%. |
(f) |
Ratios include non-recurring costs associated with a proxy statement of 0.13%. |
(g) |
Annualized. |
(h) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
42 | ||||
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Financial Highlights–(continued)
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM)
Years Ended October 31, |
For the Period September 19, 2017(a) Through October 31, 2017 | ||||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||
Per Share Operating Performance: |
|||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 22.43 | $ | 24.31 | $ | 22.80 | $ | 25.37 | $25.00 | ||||||||||||||||
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Net investment income(b) |
0.78 | 0.53 | 0.69 | 0.73 | 0.07 | ||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
6.78 | (1.88 | ) | 1.61 | (2.60 | ) | 0.30 | ||||||||||||||||||
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|
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|
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Total from investment operations |
7.56 | (1.35 | ) | 2.30 | (1.87 | ) | 0.37 | ||||||||||||||||||
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Distributions to shareholders from: |
|||||||||||||||||||||||||
Net investment income |
(0.59 | ) | (0.53 | ) | (0.77 | ) | (0.70 | ) | - | ||||||||||||||||
Net realized gains |
- | - | (0.02 | ) | - | - | |||||||||||||||||||
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|
|
|
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Total distributions |
(0.59 | ) | (0.53 | ) | (0.79 | ) | (0.70 | ) | - | ||||||||||||||||
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|
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Net asset value at end of period |
$ | 29.40 | $ | 22.43 | $ | 24.31 | $ | 22.80 | $25.37 | ||||||||||||||||
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Market price at end of period(c) |
$ | 29.51 | $ | 22.63 | $ | 24.35 | $ | 23.03 | $25.54 | ||||||||||||||||
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Net Asset Value Total Return(d) |
33.78 | % | (5.33 | )% | 10.31 | % | (7.60 | )% | 1.48 | %(e) | |||||||||||||||
Market Price Total Return(d) |
33.09 | % | (4.66 | )% | 9.37 | % | (7.30 | )% | 2.16 | %(e) | |||||||||||||||
Ratios/Supplemental Data: |
|||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 70,561 | $ | 2,243 | $ | 2,431 | $ | 2,280 | $2,537 | ||||||||||||||||
Ratio to average net assets of: |
|||||||||||||||||||||||||
Expenses |
0.07 | % | 0.07 | % | 0.37 | %(f) | 0.07 | % | 0.07 | %(g) | |||||||||||||||
Net investment income |
2.77 | % | 2.30 | % | 2.99 | %(f) | 2.89 | % | 2.38 | %(g) | |||||||||||||||
Portfolio turnover rate(h) |
7 | % | 3 | % | 4 | % | 7 | % | 2 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
The mean between the last bid and ask prices. |
(d) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(e) |
The net asset value total return from Fund Inception (September 22, 2017, the first day of trading on the Exchange) to October 31, 2017 was 1.80%. The market price total return from Fund Inception to October 31, 2017 was 2.12%. |
(f) |
Ratios include non-recurring costs associated with a proxy statement of 0.30%. |
(g) |
Annualized. |
(h) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
43 | ||||
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Financial Highlights–(continued)
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE)
Years Ended October 31, |
For the Period September 19, 2017(a) Through October 31, 2017 | ||||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | ||||||||||||||||||||||
Per Share Operating Performance: |
|||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 24.72 | $ | 23.86 | $ | 21.66 | $ | 25.07 | $ | 25.00 | |||||||||||||||
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Net investment income(b) |
0.76 | 0.55 | 0.74 | (c) | 0.66 | 0.03 | |||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
3.45 | 1.06 | 2.06 | (3.42 | ) | 0.04 | |||||||||||||||||||
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Total from investment operations |
4.21 | 1.61 | 2.80 | (2.76 | ) | 0.07 | |||||||||||||||||||
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Distributions to shareholders from: |
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Net investment income |
(0.51 | ) | (0.75 | ) | (0.60 | ) | (0.65 | ) | - | ||||||||||||||||
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Net asset value at end of period |
$ | 28.42 | $ | 24.72 | $ | 23.86 | $ | 21.66 | $ | 25.07 | |||||||||||||||
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Market price at end of period(d) |
$ | 28.36 | $ | 24.97 | $ | 23.82 | $ | 21.75 | $ | 25.20 | |||||||||||||||
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Net Asset Value Total Return(e) |
17.02 | % | 7.08 | % | 13.02 | % | (11.28 | )% | 0.28 | %(f) | |||||||||||||||
Market Price Total Return(e) |
15.61 | % | 8.33 | % | 12.34 | % | (11.38 | )% | 0.80 | %(f) | |||||||||||||||
Ratios/Supplemental Data: |
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Net assets at end of period (000’s omitted) |
$ | 11,367 | $ | 2,472 | $ | 2,386 | $ | 2,166 | $ | 2,507 | |||||||||||||||
Ratio to average net assets of: |
|||||||||||||||||||||||||
Expenses, after Waivers |
0.10 | %(g) | 0.11 | %(g) | 0.39 | %(g)(h) | 0.11 | % | 0.14 | %(i) | |||||||||||||||
Expenses, prior to Waivers |
0.14 | %(g) | 0.14 | %(g) | 0.43 | %(g)(h) | 0.14 | % | 0.14 | %(i) | |||||||||||||||
Net investment income |
2.63 | % | 2.35 | % | 3.16 | %(c)(h) | 2.64 | % | 1.03 | %(i) | |||||||||||||||
Portfolio turnover rate(j) |
32 | % | 18 | % | 13 | % | 16 | % | 1 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
Net Investment income per share and the ratio of net investment income to average net assets include a non-cash taxable distribution received during the year. Net investment income per share and the ratio of net investment income to average net assets excluding the non-cash taxable distribution are $0.56 and 2.39%, respectively. |
(d) |
The mean between the last bid and ask prices. |
(e) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(f) |
The net asset value total return from Fund Inception (September 22, 2017, the first day of trading on the Exchange) to October 31, 2017 was 1.05%. The market price total return from Fund Inception to October 31, 2017 was (0.39)%. |
(g) |
In addition to the fees and expenses which the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of the investment companies in which the Fund invests. Estimated investment companies’ expenses are not expenses that are incurred directly by the Fund. They are expenses that are incurred directly by the investment companies and are deducted from the value of the investment companies the Fund invests in. The effect of the estimated investment companies’ expenses that the Fund bears indirectly is included in the Fund’s total return. |
(h) |
Ratios include non-recurring costs associated with a proxy statement of 0.29%. |
(i) |
Annualized. |
(j) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
44 | ||||
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Invesco Exchange-Traded Fund Trust II
October 31, 2021
NOTE 1–Organization
Invesco Exchange-Traded Fund Trust II (the “Trust”) was organized as a Massachusetts business trust and is authorized to have multiple series of portfolios. The Trust is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). This report includes the following portfolios:
Full Name |
Short Name | |
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP) | “PureBetaSM 0-5 Yr US TIPS ETF” | |
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM) | “PureBetaSM FTSE Developed ex-North America ETF” | |
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) | “PureBetaSM FTSE Emerging Markets ETF” |
Each portfolio (each, a “Fund”, and collectively, the “Funds”) represents a separate series of the Trust. The shares of the Funds are referred to herein as “Shares” or “Fund’s Shares.” Each Fund’s Shares are listed and traded on Cboe BZX Exchange, Inc.
The market price of each Share may differ to some degree from a Fund’s net asset value (“NAV”). Unlike conventional mutual funds, each Fund issues and redeems Shares on a continuous basis, at NAV, only in a large specified number of Shares, each called a “Creation Unit.” Creation Units are issued and redeemed principally in exchange for the deposit or delivery of a basket of securities (“Deposit Securities”). Except when aggregated in Creation Units by Authorized Participants, the Shares are not individually redeemable securities of the Funds.
The investment objective of each Fund is to seek to track the investment results (before fees and expenses) of its respective index listed below (each, an “Underlying Index”):
Fund |
Underlying Index | |
PureBetaSM 0-5 Yr US TIPS ETF | ICE BofA 0-5 Year US Inflation-Linked Treasury IndexSM | |
PureBetaSM FTSE Developed ex-North America ETF | FTSE Developed ex North America Index | |
PureBetaSM FTSE Emerging Markets ETF | FTSE Emerging Index |
NOTE 2–Significant Accounting Policies
The following is a summary of the significant accounting policies followed by the Funds in preparation of their financial statements.
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services–Investment Companies.
A. |
Security Valuation - Securities, including restricted securities, are valued according to the following policies: |
A security listed or traded on an exchange (except convertible securities) is generally valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded or, lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued by an independent pricing service they may be considered fair valued. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and asked prices from the exchange on which they are principally traded, or at the final settlement price set by such exchange. Swaps and options not listed on an exchange are valued by an independent source. For purposes of determining NAV per Share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange (“NYSE”).
Investment companies are valued using such company’s NAV per share, unless the shares are exchange-traded, in which case they are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded.
Debt obligations (including convertible securities) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a Fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots. Debt obligations are
45 | ||||
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subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.
Foreign securities’ (including foreign exchange contracts’) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the London world markets. If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that Invesco Capital Management LLC (the “Adviser”) determines are significant and make the closing price unreliable, a Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities’ prices meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, the potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.
Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The last bid price may be used to value exchange-traded equity securities. The mean between the last bid and asked prices may be used to value debt obligations, including corporate loans, and unlisted equity securities.
Securities for which market quotations are not readily available or became unreliable are valued at fair value as determined in good faith following procedures approved by the Board of Trustees. Issuer-specific events, market trends, bid/asked quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value.
Each Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.
Valuations change in response to many factors, including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
B. |
Investment Transactions and Investment Income - Investment transactions are accounted for on a trade date basis. Realized gains and losses from the sale or disposition of securities are computed on the specific identified cost basis. Interest income is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Realized gains, dividends and interest received by a Fund may give rise to withholding and other taxes imposed by foreign countries. Tax conventions between certain countries and the United States may reduce or eliminate such taxes. |
The Funds may periodically participate in litigation related to a Fund’s investments. As such, the Funds may receive proceeds from litigation settlements. Any proceeds received are included in the Statements of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.
Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statements of Operations and the Statements of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of a Fund’s NAV and, accordingly, they reduce a Fund’s total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statements of Operations and the Statements of Changes in Net Assets, or the net investment income per share and the ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between each Fund and the Adviser.
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C. |
Country Determination - For the purposes of presentation in the Schedules of Investments, the Adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include whether each Fund’s Underlying Index has made a country determination and may include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. |
Dividends and Distributions to Shareholders - Each Fund declares and pays dividends from net investment income, if any, to its shareholders quarterly and records such dividends on the ex-dividend date. Generally, each Fund distributes net realized taxable capital gains, if any, annually in cash and records them on the ex-dividend date. Such distributions on a tax basis are determined in conformity with federal income tax regulations, which may differ from accounting principles generally accepted in the United States of America (“GAAP”). Distributions in excess of tax basis earnings and profits, if any, are reported in such Fund’s financial statements as a tax return of capital at fiscal year-end. |
E. |
Federal Income Taxes - Each Fund intends to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and to distribute substantially all of the Fund’s taxable earnings to its shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized gains) that is distributed to the shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. |
Each Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund’s uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.
Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing book and tax treatments for in-kind transactions, losses deferred due to wash sales, and passive foreign investment company adjustments, if any.
The Funds file U.S. federal tax returns and tax returns in certain other jurisdictions. Generally, a Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.
F. |
Expenses - Each Fund has agreed to pay an annual unitary management fee to the Adviser. Out of the unitary management fee, the Adviser has agreed to pay for substantially all expenses of the Funds, including the costs of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser). |
Expenses of the Trust that are excluded from a Fund’s unitary management fee and are directly identifiable to a specific Fund are applied to that Fund. Expenses of the Trust that are excluded from a Fund’s unitary management fee and are not readily identifiable to a specific Fund are allocated in such a manner as deemed equitable, taking into consideration the nature and type of expense and the relative net assets of each Fund.
To the extent a Fund invests in other investment companies, the expenses shown in the accompanying financial statements reflect the expenses of the Fund and do not include any expenses of the investment companies in which it invests. The effects of such investment companies’ expenses are included in the realized and unrealized gain or loss on the investments in the investment companies.
G. |
Accounting Estimates - The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements, including estimates and assumptions related to taxation. Actual results could differ from these estimates. In addition, the Funds monitor for material events or transactions that may occur or become known after the period-end date and before the date the financial statements are released to print. |
H. |
Indemnifications - Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. Each Board member who is not an “interested person” (as defined in the 1940 Act) of the Trust (each, an “Independent Trustee”) is also indemnified against certain liabilities arising out of the performance of their duties to the Trust pursuant to an Indemnification Agreement between such trustee and the Trust. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss as a result of such indemnification claims is considered remote. |
I. |
Treasury Inflation-Protected Securities - PureBetaSM 0-5 Yr US TIPS ETF may invest in Treasury Inflation-Protected Securities (“TIPS”). TIPS are fixed income securities whose principal value is periodically adjusted to the rate of inflation. The |
47 | ||||
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principal value of TIPS will be adjusted upward or downward, and any increase or decrease in the principal amount of TIPS will be included as Treasury Inflation-Protected Securities inflation adjustment in the Statements of Operations, even though investors do not receive their principal until maturity. |
J. |
Securities Lending - Each Fund may participate in securities lending and may loan portfolio securities having a market value up to one-third of each Fund’s total assets. Such loans are secured by cash collateral equal to no less than 102% (105% for international securities) of the market value of the loaned securities determined daily by the securities lending provider. Cash collateral received in connection with these loans is invested in short-term money market instruments or affiliated, unregistered investment companies that comply with Rule 2a-7 under the Investment Company Act and money market funds (collectively, “affiliated money market funds”) and is shown as such on the Schedules of Investments. Each Fund bears the risk of loss with respect to the investment of collateral. It is the policy of these Funds to obtain additional collateral from or return excess collateral to the borrower by the end of the next business day, following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than the value of the securities on loan. When loaning securities, each Fund retains certain benefits of owning the securities, including the economic equivalent of dividends or interest generated by the security. Lending securities entails a risk of loss to each Fund if, and to the extent that, the market value of the securities loaned were to increase, and the borrower did not increase the collateral accordingly, and the borrower failed to return the securities. The securities loaned are subject to termination at the option of the borrower or each Fund. Upon termination, the borrower will return to each Fund the securities loaned and each Fund will return the collateral. Upon the failure of the borrower to return the securities, collateral may be liquidated and the securities may be purchased on the open market to replace the loaned securities. Each Fund could experience delays and costs in gaining access to the collateral and the securities may lose value during the delay which could result in potential losses to each Fund. Some of these losses may be indemnified by the lending agent. Each Fund bears the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. For Funds that participated in securities lending, dividends received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in Securities lending income on the Statements of Operations. The aggregate value of securities out on loan, if any, is shown on the Statements of Assets and Liabilities. |
On September 14, 2021, the Board of Trustees appointed Invesco Advisers, Inc. (“Invesco”), an affiliate of the Adviser, to serve as an affiliated securities lending agent for each Fund participating in the securities lending program. BNY Mellon (“BNYM”) also continues to serve as a lending agent. Prior to September 14, 2021, BNYM served as the sole securities lending agent for each Fund under the securities lending program. To the extent a Fund utilizes Invesco as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the fiscal year ended October 31, 2021, there were no securities lending transactions with Invesco.
K. |
Foreign Currency Translations - Foreign currency is valued at the close of the NYSE based on quotations posted by banks and major currency dealers. Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities (net of foreign taxes withheld on disposition) and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. Each Fund does not separately account for the portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. The combined results of changes in foreign exchange rates and the fluctuation of market prices on investments (net of estimated foreign tax withholding) are included with the net realized and unrealized gain or loss from investments in the Statements of Operations. Reported net realized foreign currency gains or losses arise from (1) sales of foreign currencies, (2) currency gains or losses realized between the trade and settlement dates on securities transactions, and (3) the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on a Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign currency gains and losses arise from changes in the fair values of assets and liabilities, other than investments in securities at fiscal period-end, resulting from changes in exchange rates. |
Each Fund may invest in foreign securities, which may be subject to foreign taxes on income, gains on investments or currency repatriation, a portion of which may be recoverable. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which a Fund invests.
L. |
Other Risks |
Authorized Participant Concentration Risk. Only authorized participants (“APs”) may engage in creation or redemption transactions directly with each Fund. Each Fund has a limited number of institutions that may act as APs, and such APs have no obligation to submit creation or redemption orders. Consequently, there is no assurance that APs will establish or maintain an active trading market for the Shares. This risk may be heightened to the extent that securities held by each Fund are traded outside a collateralized settlement system. In that case, APs may be required to post collateral on certain trades on an agency basis (i.e., on behalf of other market participants), which only a limited number of APs may be able to do. In addition, to the extent that APs exit the business or are unable to proceed with creation and/or redemption orders with respect to each Fund and no other AP is able to step forward to create or redeem Creation Units, this may result in a significantly diminished
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trading market for Fund Shares, and Shares may be more likely to trade at a premium or discount to a Fund’s NAV and to face trading halts and/or delisting. Investments in non-U.S. securities, which may have lower trading volumes, may increase this risk.
Changing U.S. Fixed-Income Market Conditions Risk. The historically low interest rate environment observed over the past several years was created in part by the Federal Reserve Board (“FRB”) keeping the federal funds rates at, near or below zero. In recent years, the FRB began “tapering” its quantitative easing program, leading to fluctuations in the Federal Funds Rate. However, in response to the impact of the COVID-19 pandemic, in March 2020 the FRB announced cuts to the Federal Funds Rate and a new round of quantitative easing. Because there is little precedent for this situation, it is difficult to predict the impact of these rate changes and any future rate changes on various markets. Any additional changes to the monetary policy by the FRB or other regulatory actions may affect interest rates and/or reduce liquidity for fixed-income investments, particularly those with longer maturities. In addition, decreases in fixed-income dealer market-making capacity may also potentially lead to heightened volatility and reduced liquidity in the fixed-income markets. As a result, the value of a Fund’s investments and share price may decline. Changes in FRB policies could also result in higher than normal shareholder redemptions, which could potentially increase portfolio turnover rate and a Fund’s transaction costs.
Currency Risk. Because each Fund’s NAV is determined in U.S. dollars, a Fund’s NAV could decline if the currency of a non-U.S. market in which the Fund invests depreciates against the U.S. dollar. Generally, an increase in the value of the U.S. dollar against a foreign currency will reduce the value of a security denominated in that foreign currency, thereby decreasing a Fund’s overall NAV. Exchange rates may be volatile and may change quickly and unpredictably in response to both global economic developments and economic conditions, causing an adverse impact on a Fund. As a result, investors have the potential for losses regardless of the length of time they intend to hold Shares.
Emerging Markets Investment Risk. For certain Funds, investments in the securities of issuers in emerging market countries involve risks often not associated with investments in the securities of issuers in developed countries. Securities in emerging markets may be subject to greater price fluctuations than securities in more developed markets. Companies in emerging market countries generally may be subject to less stringent financial reporting, accounting, auditing and recordkeeping standards than companies in more developed countries. In addition, information about such companies may be less available and reliable. Emerging markets usually are subject to greater market volatility, political, social and economic instability, uncertainty regarding the existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Securities law in many emerging market countries is relatively new and unsettled. Therefore, laws regarding foreign investment in emerging market securities, securities regulation, title to securities, and shareholder rights may change quickly and unpredictably, and the ability to bring and enforce actions may be limited. In addition, the enforcement of systems of taxation at federal, regional and local levels in emerging market countries may be inconsistent and subject to sudden change. Investments in emerging markets securities may be subject to additional transaction costs, delays in settlement procedures, unexpected market closures, and lack of timely information. In addition, lack of relevant data and reliable public information about securities in emerging markets may contribute to incorrect weightings and data and computational errors when a Fund’s index provider selects securities for inclusion in the Fund’s Underlying Index or rebalances the Underlying Index.
Equity Risk. Equity risk is the risk that the value of equity securities, including common stocks, may fall due to both changes in general economic conditions that impact the market as a whole, as well as factors that directly relate to a specific company or its industry. Such general economic conditions include changes in interest rates, periods of market turbulence or instability, or general and prolonged periods of economic decline and cyclical change. It is possible that a drop in the stock market may depress the price of most or all of the common stocks that each Fund holds. In addition, equity risk includes the risk that investor sentiment toward one or more industries will become negative, resulting in those investors exiting their investments in those industries, which could cause a reduction in the value of companies in those industries more broadly. The value of a company’s common stock may fall solely because of factors, such as an increase in production costs that negatively impact other companies in the same region, industry or sector of the market. A company’s common stock also may decline significantly in price over a short period of time due to factors specific to that company, including decisions made by its management or lower demand for the company’s products or services. For example, an adverse event, such as an unfavorable earnings report or the failure to make anticipated dividend payments, may depress the value of common stock.
Fixed-Income Securities Risk. Fixed-income securities are subject to interest rate risk and credit risk. Interest rate risk refers to fluctuations in the value of a fixed-income security resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed-income securities go up. Fixed-income securities with longer maturities typically are more sensitive to changes in interest rates, making them more volatile than securities with shorter maturities. Credit risk refers to the possibility that the issuer of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. There is a possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may occur quickly and without advance warning following sudden market downturns or unexpected developments involving an issuer, and which may adversely affect the liquidity and value of the security. Additionally, from time to time, uncertainty regarding the status of negotiations in the U.S. Government to increase the statutory debt limit, commonly called the “debt
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ceiling”, could increase the risk that the U.S. Government may default on payments on certain U.S. Government securities, cause the credit rating of the U.S. Government to be downgraded, increase volatility in the stock and bond markets, result in higher interest rates, reduce prices of U.S. Treasury securities, and/or increase the costs of various kinds of debt. If a U.S. Government-sponsored entity is negatively impacted by legislative or regulatory action, is unable to meet its obligations, or its creditworthiness declines, the performance of a Fund that holds securities of that entity will be adversely impacted.
Foreign Investment Risk. Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers. Foreign securities also are subject to the risks of expropriation, nationalization, political instability, and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers or other adverse political or economic developments and the difficulty of enforcing obligations in other countries. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. If a Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund’s returns.
Geographic Concentration Risk. A natural or other disaster could occur in a geographic region in which a Fund invests, which could affect the economy or particular business operations of companies in that specific geographic region and adversely impact the Fund’s investments in the affected region.
Index Risk. Unlike many investment companies, each Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index. Therefore, a Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming. Additionally, each Fund rebalances its portfolio in accordance with its Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to each Fund’s rebalance schedule.
Industry Concentration Risk. In following its methodology, each Fund’s Underlying Index will be concentrated to a significant degree in securities of issuers operating in a single industry or industry group. As a result, the corresponding Fund will also concentrate its investments to approximately the same extent. By concentrating its investments in an industry or industry group, each Fund faces more risks than if it were diversified broadly over numerous industries or industry groups. Such industry-based risks, any of which may adversely affect the companies in which each Fund invests, may include, but are not limited to, the following: general economic conditions or cyclical market patterns that could negatively affect supply and demand in a particular industry; competition for resources, adverse labor relations, political or world events; obsolescence of technologies; and increased competition or new product introductions that may affect the profitability or viability of companies in an industry. In addition, at times, such industry or industry group may be out of favor and underperform other industries or the market as a whole.
Inflation-Linked Security Risk. For certain Funds, the value of inflation-linked securities generally will fluctuate in response to changes in real interest rates, generally decreasing when real interest rates rise and increasing when real interest rates fall. Real interest rates represent nominal (or stated) interest rates reduced by the expected impact of inflation. In addition, interest payments on inflation -indexed securities will generally vary up or down along with the rate of inflation.
Liquidity Risk. Liquidity risk exists when a particular investment is difficult to purchase or sell. If a Fund invests in illiquid securities or current portfolio securities become illiquid, it may reduce the returns of the Fund because the Fund may be unable to sell the illiquid securities at an advantageous time or price.
Market Risk. Securities in the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index. Additionally, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or other events could result in increased premiums or discounts to each Fund’s NAV.
Non-Correlation Risk. Each Fund’s return may not match the return of its corresponding Underlying Index for a number of reasons. For example, each Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of its corresponding Underlying Index. Additionally, a Fund’s use of a representative sampling approach may cause the Fund not to be as well-correlated with the return of its corresponding Underlying Index as would be the case if the Fund purchased all of the securities in its corresponding Underlying Index in the proportions represented in the Underlying Index. In addition, the performance of each Fund and its corresponding Underlying Index may vary due to asset valuation differences and differences between each Fund’s portfolio and its corresponding Underlying Index resulting from legal restrictions, costs or liquidity constraints.
Non-Diversification Risk. To the extent certain Funds become non-diversified, such Funds can invest a greater portion of their respective assets in securities of individual issuers than a diversified fund, and as a result, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase certain Funds’ volatility and cause the performance of a relatively small number of issuers to have a greater impact on such Funds’ performance.
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Sampling Risk. Certain Funds’ use of a representative sampling approach may result in the Fund holding a smaller number of securities than are in its respective Underlying Index. As a result, an adverse development with respect to an issuer of securities held by the Fund could result in a greater decline in NAV than would be the case if the Fund held all of the securities in its Underlying Index. To the extent the assets in the Fund are smaller, these risks will be greater.
Small- and Mid-Capitalization Company Risk. Investing in securities of small- and mid-capitalization companies involves greater risk than customarily is associated with investing in larger, more established companies. These companies’ securities may be more volatile and less liquid than those of more established companies. These securities may have returns that vary, sometimes significantly, from the overall securities market. Often small- and mid-capitalization companies and the industries in which they focus are still evolving and, as a result, they may be more sensitive to changing market conditions.
U.S. Government Obligation Risk. Certain Funds may invest in U.S. government obligations issued or guaranteed by the U.S. Government, its agencies and instrumentalities, including bills, notes and bonds issued by the U.S. Treasury. U.S. Government securities include securities that are issued or guaranteed by the United States Treasury, by various agencies of the U.S. Government, or by various instrumentalities which have been established or sponsored by the U.S. Government. U.S. Treasury securities are backed by the “full faith and credit” of the United States. Securities issued or guaranteed by federal agencies and U.S. Government-sponsored instrumentalities may or may not be backed by the full faith and credit of the United States. In the case of those U.S. Government securities not backed by the full faith and credit of the United States, the investor must look principally to the agency or instrumentality issuing or guaranteeing the security for ultimate repayment, and may not be able to assert a claim against the United States itself in the event that the agency or instrumentality does not meet its commitment. The U.S. Government, its agencies and instrumentalities do not guarantee the market value of their securities, and consequently, the value of such securities may fluctuate.
Valuation Risk. Financial information related to securities of non-U.S. issuers may be less reliable than information related to securities of U.S. issuers, which may make it difficult to obtain a current price for a non-U.S. security held by a Fund. In certain circumstances, market quotations may not be readily available for some Fund securities, and those securities may be fair valued. The value established for a security through fair valuation may be different from what would be produced if the security had been valued using market quotations. Fund securities that are valued using techniques other than market quotations, including “fair valued” securities, may be subject to greater fluctuation in their value from one day to the next than would be the case if market quotations were used. In addition, there is no assurance that a Fund could sell a portfolio security for the value established for it at any time, and it is possible that a Fund would incur a loss because a security is sold at a discount to its established value.
COVID-19 Risk. The COVID-19 strain of coronavirus has resulted in instances of market closures and dislocations, extreme volatility, liquidity constraints and increased trading costs. Efforts to contain its spread have resulted in travel restrictions, disruptions of healthcare systems, business operations and supply chains, layoffs, lower consumer demand, and defaults, among other significant economic impacts that have disrupted global economic activity across many industries. Such economic impacts may exacerbate other pre-existing political, social and economic risks locally or globally.
The ongoing effects of COVID-19 are unpredictable and may result in significant and prolonged effects on the Funds’ performance.
NOTE 3–Investment Advisory Agreement and Other Agreements
The Trust has entered into an Investment Advisory Agreement with the Adviser on behalf of each Fund, pursuant to which the Adviser has overall responsibility for the selection and ongoing monitoring of the Funds’ investments, managing the Funds’ business affairs and providing certain clerical, bookkeeping and other administrative services.
Pursuant to the Investment Advisory Agreement, each Fund accrues daily and pays monthly to the Adviser an annual unitary management fee. Out of the unitary management fee, the Adviser has agreed to pay for substantially all expenses of the Funds, including the cost of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser). The unitary management fee is paid by each Fund to the Adviser at the following annual rates:
Unitary Management Fees (as a % of average daily net assets) | ||
PureBetaSM 0-5 Yr US TIPS ETF | 0.07% | |
PureBetaSM FTSE Developed ex-North America ETF | 0.07% | |
PureBetaSM FTSE Emerging Markets ETF | 0.14% |
Further, through at least August 31, 2023, the Adviser has contractually agreed to waive the management fee payable by each Fund in an amount equal to the lesser of: (i) 100% of the net advisory fees earned by the Adviser or an affiliate of the Adviser that are attributable to the Fund’s investments in money market funds that are managed by affiliates of the Adviser and other funds (including ETFs) managed by the Adviser or affiliates of the Adviser or (ii) the management fee available to be waived.
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These waivers do not apply to a Fund’s investment of cash collateral received for securities lending. There is no guarantee that the Adviser will extend the waiver of these fees past that date.
For the fiscal year ended October 31, 2021, the Adviser waived fees for each Fund in the following amounts:
PureBetaSM 0-5 Yr US TIPS ETF | $ | 7 | ||
PureBetaSM FTSE Developed ex-North America ETF | 2 | |||
PureBetaSM FTSE Emerging Markets ETF | 2,657 |
The Trust has entered into a Distribution Agreement with Invesco Distributors, Inc. (the “Distributor”), which serves as the distributor of Creation Units for each Fund. The Distributor does not maintain a secondary market in the Shares. The Funds are not charged any fees pursuant to the Distribution Agreement. The Distributor is an affiliate of the Adviser.
The Adviser has entered into a licensing agreement for each Fund with the following entities (each, a “Licensor”):
Fund |
Licensor | |
PureBetaSM 0-5 Yr US TIPS ETF | ICE Data Indices, LLC | |
PureBetaSM FTSE Developed ex-North America ETF | FTSE International Ltd. | |
PureBetaSM FTSE Emerging Markets ETF | FTSE International Ltd. |
Each Underlying Index name trademark is owned by its respective Licensor. These trademarks have been licensed to the Adviser for use by the Funds. Each Fund is entitled to use its Underlying Index pursuant to the Trust’s sub-licensing agreement with the Adviser. The Funds are not sponsored, endorsed, sold or promoted by the Licensors, and the Licensors make no representation regarding the advisability of investing in any of the Funds.
The Trust has entered into service agreements whereby The Bank of New York Mellon, a wholly-owned subsidiary of The Bank of New York Mellon Corporation, serves as the administrator, custodian, fund accountant and transfer agent for each Fund.
NOTE 4–Additional Valuation Information
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – | Prices are determined using quoted prices in an active market for identical assets. | |
Level 2 – | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. | |
Level 3 – | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect a Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
The following is a summary of the tiered valuation input levels, as of October 31, 2021. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
PureBetaSM 0-5 Yr US TIPS ETF |
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Investments in Securities |
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U.S. Treasury Securities |
$ | - | $ | 52,763,048 | $ | - | $ | 52,763,048 | ||||||||
Money Market Funds |
60,551 | 5,144,346 | - | 5,204,897 | ||||||||||||
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Total Investments |
$ | 60,551 | $ | 57,907,394 | $ | - | $ | 57,967,945 | ||||||||
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PureBetaSM FTSE Developed ex-North America ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 70,175,854 | $ | 186,313 | $ | 2,621 | $ | 70,364,788 | ||||||||
Money Market Funds |
160,782 | 1,119,186 | - | 1,279,968 | ||||||||||||
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Total Investments |
$ | 70,336,636 | $ | 1,305,499 | $ | 2,621 | $ | 71,644,756 | ||||||||
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Level 1 | Level 2 | Level 3 | Total | |||||||||||||
PureBetaSM FTSE Emerging Markets ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 10,509,063 | $ | 102 | $ | 0 | $ | 10,509,165 | ||||||||
Exchange-Traded Funds |
834,175 | - | - | 834,175 | ||||||||||||
Money Market Funds |
76,781 | 402,632 | - | 479,413 | ||||||||||||
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Total Investments |
$ | 11,420,019 | $ | 402,734 | $ | 0 | $ | 11,822,753 | ||||||||
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NOTE 5–Distributions to Shareholders and Tax Components of Net Assets
Tax Character of Distributions to Shareholders Paid During the Fiscal Years Ended October 31, 2021 and 2020:
2021 | 2020 | |||||||
Ordinary Income* |
Ordinary Income* |
|||||||
PureBetaSM 0-5 Yr US TIPS ETF | $ | 872,608 | $ | 88,376 | ||||
PureBetaSM FTSE Developed ex-North America ETF | 176,508 | 53,056 | ||||||
PureBetaSM FTSE Emerging Markets ETF | 157,773 | 75,266 |
* |
Includes short-term capital gain distributions, if any. |
Tax Components of Net Assets at Fiscal Year-End:
Undistributed Ordinary Income |
Undistributed Long-Term Capital Gains |
Net Unrealized Appreciation- Investments |
Net Unrealized (Depreciation)- Foreign Currencies |
Capital
Loss Carryforwards |
Shares
of Beneficial Interest |
Total
Net Assets | |||||||||||||||||||||||||||||
PureBetaSM 0-5 Yr US TIPS ETF | $365,614 | $686 | $436,258 | $ - | $ - | $52,022,958 | $52,825,516 | ||||||||||||||||||||||||||||
PureBetaSM FTSE Developed ex-North America ETF | 107,704 | - | 564,606 | (386) | (36,825) | 69,926,110 | 70,561,209 | ||||||||||||||||||||||||||||
PureBetaSM FTSE Emerging Markets ETF | 39,724 | - | 196,784 | (23) | (151,100) | 11,281,491 | 11,366,876 |
Capital loss carryforwards are calculated and reported as of a specific date. Results of transactions and other activity after that date may affect the amount of capital loss carryforwards actually available for the Funds to utilize. The ability to utilize capital loss carryforwards in the future may be limited under the Internal Revenue Code and related regulations based on the results of future transactions.
The Funds have capital loss carryforwards as of October 31, 2021, as follows:
No expiration | |||||||||||||||
Short-Term | Long-Term | Total* | |||||||||||||
PureBetaSM 0-5 Yr US TIPS ETF | $ | - | $ | - | $ | - | |||||||||
PureBetaSM FTSE Developed ex-North America ETF | - | 36,825 | 36,825 | ||||||||||||
PureBetaSM FTSE Emerging Markets ETF | 25,803 | 125,297 | 151,100 |
* |
Capital loss carryforwards are reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. |
NOTE 6–Investment Transactions
For the fiscal year ended October 31, 2021, the cost of securities purchased and the proceeds from sales of securities (other than short-term securities, U.S. Government obligations, money market funds and in-kind transactions, if any) were as follows:
Purchases | Sales | |||||||
PureBetaSM FTSE Developed ex-North America ETF | $ | 6,287,025 | $ | 918,840 | ||||
PureBetaSM FTSE Emerging Markets ETF | 8,336,858 | 2,274,960 |
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For the fiscal year ended October 31, 2021, in-kind transactions associated with creations and redemptions were as follows:
In-kind Purchases |
In-kind Sales |
|||||||
PureBetaSM 0-5 Yr US TIPS ETF | $ | 35,403,193 | $ | 2,911,565 | ||||
PureBetaSM FTSE Developed ex-North America ETF | 61,936,018 | - | ||||||
PureBetaSM FTSE Emerging Markets ETF | 2,734,046 | - |
As of October 31, 2021, the aggregate cost of investments, including any derivatives, on a tax basis includes adjustments for financial reporting purposes as of the most recently completed federal income tax reporting period-end:
Gross Unrealized Appreciation |
Gross Unrealized (Depreciation) |
Net Unrealized Appreciation |
Cost | |||||||||||||||||
PureBetaSM 0-5 Yr US TIPS ETF | $ 464,394 | $ (28,136 | ) | $436,258 | $57,531,687 | |||||||||||||||
PureBetaSM FTSE Developed ex-North America ETF | 1,525,527 | (960,921 | ) | 564,606 | 71,080,150 | |||||||||||||||
PureBetaSM FTSE Emerging Markets ETF | 1,207,250 | (1,010,466 | ) | 196,784 | 11,625,969 |
NOTE 7–Reclassification of Permanent Differences
Primarily as a result of differing book/tax treatment of foreign currency transactions, passive foreign investment companies and in-kind transactions, amounts were reclassified between undistributed net investment income (loss), undistributed net realized gain (loss) and Shares of beneficial interest. These reclassifications had no effect on the net assets of each Fund. For the fiscal year ended October 31, 2021, the reclassifications were as follows:
Undistributed Net Investment Income (Loss) |
Undistributed Net Realized Gain (Loss) |
Shares of Beneficial Interest | |||||||||||||
PureBetaSM 0-5 Yr US TIPS ETF | $ | - | $ | (137,511 | ) | $ | 137,511 | ||||||||
PureBetaSM FTSE Developed ex-North America ETF | 5,768 | (5,768 | ) | - | |||||||||||
PureBetaSM FTSE Emerging Markets ETF | (1,426 | ) | 1,425 | 1 |
NOTE 8–Trustees’ and Officer’s Fees
Trustees’ and Officer’s Fees include amounts accrued by the Funds to pay remuneration to the Independent Trustees and an Officer of the Trust. The Adviser, as a result of each Fund’s unitary management fee, pays for such compensation for the Funds. The Trustee who is an “interested person” of the Trust does not receive any Trustees’ fees.
The Trust has adopted a deferred compensation plan (the “Plan”). Under the Plan, each Independent Trustee who has executed a Deferred Fee Agreement (a “Participating Trustee”) may defer receipt of all or a portion of their compensation (“Deferral Fees”). Such Deferral Fees are deemed to be invested in select Invesco ETFs. The Deferral Fees payable to a Participating Trustee are valued as of the date such Deferral Fees would have been paid to a Participating Trustee. The value increases with contributions or with increases in the value of the Shares selected, and the value decreases with distributions or with declines in the value of the Shares selected. Obligations under the Plan represent unsecured claims against the general assets of the Funds.
NOTE 9–Capital
Shares are issued and redeemed by each Fund only in Creation Units consisting of a specified number of Shares as set forth in each Fund’s prospectus. Only Authorized Participants are permitted to purchase or redeem Creation Units from the Funds. Such transactions are principally permitted in exchange for Deposit Securities, with a balancing cash component to equate the transaction to the NAV per Share of a Fund on the transaction date. However, for all Funds, cash in an amount equivalent to the value of certain securities may be substituted, generally when the securities are not available in sufficient quantity for delivery, not eligible for trading by the Authorized Participant or as a result of other market circumstances.
To the extent that the Funds permit transactions in exchange for Deposit Securities, each Fund may issue Shares in advance of receipt of Deposit Securities subject to various conditions, including a requirement to maintain on deposit with the Trust cash at least equal to 105% of the market value of the missing Deposit Securities. In accordance with the Trust’s Participant Agreement, Creation Units will be issued to an Authorized Participant, notwithstanding the fact that the corresponding Deposit Securities have not been received in part or in whole, in reliance on the undertaking of the Authorized Participant to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by the Authorized Participant’s delivery and maintenance of collateral consisting of cash in the form of U.S. dollars in immediately available funds having a value (marked-to- market daily) at least equal to 105%, which the Adviser may change from time to time, of the value of the missing Deposit Securities.
Certain transaction fees may be charged by the Funds for creations and redemptions, which are treated as increases in capital.
Transactions in each Fund’s Shares are disclosed in detail in the Statements of Changes in Net Assets.
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Report of Independent Registered Public Accounting Firm
To the Board of Trustees of Invesco Exchange-Traded Fund Trust II and Shareholders of Invesco PureBetaSM 0-5 Yr US TIPS ETF, Invesco PureBetaSM FTSE Developed ex-North America ETF and Invesco PureBetaSM FTSE Emerging Markets ETF
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Invesco PureBetaSM 0-5 Yr US TIPS ETF, Invesco PureBetaSM FTSE Developed ex-North America ETF and Invesco PureBetaSM FTSE Emerging Markets ETF (three of the funds constituting Invesco Exchange-Traded Fund Trust II, hereafter collectively referred to as the “Funds”) as of October 31, 2021, the related statements of operations for the year ended October 31, 2021, the statements of changes in net assets for each of the two years in the period ended October 31, 2021, including the related notes, and the financial highlights for each of the four years in the period ended October 31, 2021 and for the period September 19, 2017 (commencement of investment operations) through October 31, 2017 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of October 31, 2021, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended October 31, 2021 and each of the financial highlights for each of the four years in the period ended October 31, 2021 and for the period September 19, 2017 (commencement of investment operations) through October 31, 2017, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2021 by correspondence with the custodian, transfer agent, and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/PricewaterhouseCoopers LLP
Chicago, Illinois
December 22, 2021
We have served as the auditor of one or more of the investment companies in the Invesco group of investment companies since at least 1995. We have not been able to determine the specific year we began serving as auditor.
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Calculating your ongoing Fund expenses
Example
As a shareholder of a Fund of the Invesco Exchange-Traded Fund Trust II, you incur a unitary management fee. In addition to the unitary management fee, a shareholder may pay distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period May 1, 2021 through October 31, 2021.
In addition to the fees and expenses which the Invesco PureBetaSM FTSE Emerging Markets ETF (the “Portfolio”) bears directly, the Portfolio indirectly bears a pro rata share of the fees and expenses of the investment companies in which the Portfolio invests. The amount of fees and expenses incurred indirectly by the Portfolio will vary because the investment companies have varied expenses and fee levels and the Portfolio may own different proportions of the investment companies at different times. Estimated investment companies’ expenses are not expenses that are incurred directly by the Portfolio. They are expenses that are incurred directly by the investment companies and are deducted from the value of the investment companies the Portfolio invests in. The effect of the estimated investment companies’ expenses that the Portfolio bears indirectly is included in the Portfolio’s total return.
Actual Expenses
The first line in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses Paid During the Six-Month Period” to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes
The second line in the following table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed annualized rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Funds and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs, such as sales charges and brokerage commissions. Therefore, the second line in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, expenses shown in the table do not include the expenses of the underlying funds, which are borne indirectly by a Fund. If transaction costs and indirect expenses were included, your costs would have been higher.
Beginning Account Value May 1, 2021 |
Ending Account Value October 31, 2021 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) | |||||||||||||||||
Invesco PureBetaSM 0-5 Yr US TIPS ETF (PBTP) | ||||||||||||||||||||
Actual |
$ | 1,000.00 | $ | 1,028.40 | 0.07 | % | $ | 0.36 | ||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,024.85 | 0.07 | 0.36 | ||||||||||||||||
Invesco PureBetaSM FTSE Developed ex-North America ETF (PBDM) | ||||||||||||||||||||
Actual |
1,000.00 | 1,030.40 | 0.07 | 0.36 | ||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,024.85 | 0.07 | 0.36 |
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Calculating your ongoing Fund expenses–(continued)
Beginning Account Value May 1, 2021 |
Ending Account Value October 31, 2021 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) | |||||||||||||||||
Invesco PureBetaSM FTSE Emerging Markets ETF (PBEE) | ||||||||||||||||||||
Actual |
$ | 1,000.00 | $ | 970.30 | 0.10 | % | $ | 0.50 | ||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,024.70 | 0.10 | 0.51 |
(1) |
Expenses are calculated using the annualized expense ratio, which represents the ongoing expenses as a percentage of net assets for the six-month period ended October 31, 2021. Expenses are calculated by multiplying the Fund’s annualized expense ratio by the average account value for the period, then multiplying the result by 184/365. Expense ratios for the most recent six-month period may differ from expense ratios based on the annualized data in the Financial Highlights. |
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Form 1099-DIV, Form 1042-S and other year–end tax information provide shareholders with actual calendar year amounts that should be included in their tax returns. Shareholders should consult their tax advisers.
The following distribution information is being provided as required by the Internal Revenue Code or to meet a specific state’s requirement.
Each Fund designates the following amounts or, if subsequently determined to be different, the maximum amount allowable for its fiscal year ended October 31, 2021:
Qualified Business Income* |
Qualified Dividend Income* |
Corporate Dividends Received Deduction* |
U.S. Treasury Obligations* |
Business Interest Income* |
Qualified Interest Income* |
Qualified Short Term Gains | |||||||||||||||||||||||||||||
Invesco PureBetaSM 0-5 Yr US TIPS ETF | 0 | % | 0 | % | 0 | % | 100 | % | 89 | % | 93 | % | $ | 8,400 | |||||||||||||||||||||
Invesco PureBetaSM FTSE Developed ex-North America ETF | 0 | % | 69 | % | 0 | % | 0 | % | 0 | % | 0 | % | - | ||||||||||||||||||||||
Invesco PureBetaSM FTSE Emerging Markets ETF | 0 | % | 45 | % | 0 | % | 0 | % | 0 | % | 0 | % | - |
* |
The above percentages are based on ordinary income dividends paid to shareholders during the Fund’s fiscal year. |
The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries. The foreign source income and foreign taxes paid per share are as follows:
Foreign Taxes Per Share |
Foreign Source Income Per Share | |||||||||
Invesco PureBetaSM FTSE Developed ex-North America ETF | $ | 0.0097 | $ | 0.1116 | ||||||
Invesco PureBetaSM FTSE Emerging Markets ETF | 0.0489 | 0.5318 |
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The Independent Trustees of the Trust, their term of office and length of time served, their principal business occupations during at least the past five years, the number of portfolios in the Fund Complex (as defined below) overseen by each Independent Trustee and the other directorships, if any, held by each Independent Trustee are shown below:
As of October 31, 2021
Name, Address and Year of Birth of Independent Trustees |
Position(s) Held with Trust |
Term
of Office and Length of Time Served* |
Principal Occupation(s) During the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other Directorships Held by Independent Trustees During the Past 5 Years | |||||
Ronn R. Bagge–1958 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Vice Chairman of the Board; Chairman of the Nominating and Governance Committee and Trustee | Vice Chairman since 2018; Chairman of the Nominating and Governance Committee and Trustee since 2007 | Founder and Principal, YQA Capital Management LLC (1998-Present); formerly, Owner/CEO of Electronic Dynamic Balancing Co., Inc. (high-speed rotating equipment service provider). | 234 | Trustee and Investment Oversight Committee member, Mission Aviation Fellowship (2017- Present). | |||||
Todd J. Barre–1957 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Trustee | Since 2010 | Assistant Professor of Business, Trinity Christian College (2010-2016); formerly, Vice President and Senior Investment Strategist (2001-2008), Director of Open Architecture and Trading (2007-2008), Head of Fundamental Research (2004-2007) and Vice President and Senior Fixed Income Strategist (1994-2001), BMO Financial Group/Harris Private Bank. | 234 | None. |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Independent Trustees |
Position(s) Held with Trust |
Term of and Length of |
Principal Occupation(s) During the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other Directorships Held by Independent Trustees During the Past 5 Years | |||||
Edmund P. Giambastiani, Jr.–1948 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Trustee | Since 2019 | President, Giambastiani Group LLC (national security and energy consulting) (2007-Present); Director, The Boeing Company (2009-Present); Director, First Eagle Alternative Credit LLC (2020-Present); Advisory Board Member, Massachusetts Institute of Technology Lincoln Laboratory (federally funded research development) (2010-Present); Defense Advisory Board Member, Lawrence Livermore National Laboratory (2013-Present); formerly, Trustee, MITRE Corporation (federally funded research development) (2008-2020); Director, THL Credit, Inc. (alternative credit investment manager) (2016-2020); Chairman (2015-2016), Lead Director (2011-2015) and Director (2008-2011), Monster Worldwide, Inc. (career services); United States Navy, career nuclear submarine officer (1970-2007); Seventh Vice Chairman of the Joint Chiefs of Staff (2005-2007); first NATO Supreme Allied Commander Transformation (2003-2005); Commander, U.S. Joint Forces Command (2002-2005). | 234 | Trustee, U.S. Naval Academy Foundation Athletic & Scholarship Program (2010- Present); formerly, Trustee, certain funds of the Oppenheimer Funds complex (2013-2019); Advisory Board Member, Maxwell School of Citizenship and Public Affairs of Syracuse University (2012-2016). |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Independent Trustees |
Position(s) Held with Trust |
Term of Office and Length of Time Served* |
Principal the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other Independent | |||||
Victoria J. Herget–1951 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Trustee | Since 2019 | Formerly, Managing Director (1993-2001), Principal (1985-1993), Vice President (1978-1985) and Assistant Vice President (1973-1978), Zurich Scudder Investments (investment adviser) (and its predecessor firms). | 234 | Trustee (2000-Present) and Chair (2010-2017), Newberry Library; Trustee, Mather LifeWays (2001-Present); Trustee, Chikaming Open Lands (2014-Present); formerly, Trustee, certain funds in the Oppenheimer Funds complex (2012- 2019); Board Chair (2008-2015) and Director (2004- 2018), United Educators Insurance Company; Independent Director, First American Funds (2003-2011); Trustee (1992-2007), Chair of the Board of Trustees (1999-2007), Investment Committee Chair (1994-1999) and Investment Committee member (2007-2010), Wellesley College; Trustee, BoardSource (2006-2009); Trustee, Chicago City Day School (1994-2005). |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Independent Trustees |
Position(s) with Trust |
Term of Served* |
Principal Occupation(s) During the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other Directorships Held by Independent Trustees During the Past 5 Years | |||||
Marc M. Kole–1960 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Chairman of the Audit Committee and Trustee | Chairman of the Audit Committee since 2008; Trustee since 2007 | Managing Director of Finance (2020-Present) and Senior Director of Finance (2015-2020), By The Hand Club for Kids (not-for-profit); formerly, Chief Financial Officer, Hope Network (social services) (2008-2012); Assistant Vice President and Controller, Priority Health (health insurance) (2005-2008);Regional Chief Financial Officer, United Healthcare (2005); Chief Accounting Officer, Senior Vice President of Finance, Oxford Health Plans (2000-2004); Audit Partner, Arthur Andersen LLP (1996-2000). | 234 | Formerly, Treasurer (2018-2021), Finance Committee Member (2015-2021) and Audit Committee Member (2015), Thornapple Evangelical Covenant Church; Board and Finance Committee Member (2009-2017) and Treasurer (2010-2015, 2017), NorthPointe Christian Schools. | |||||
Yung Bong Lim–1964 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Chairman of the Investment Oversight Committee and Trustee | Chairman of the Investment Oversight Committee since 2014; Trustee since 2013 | Managing Partner, RDG Funds LLC (real estate) (2008-Present); formerly, Managing Director, Citadel LLC (1999-2007). | 234 | Board Director, Beacon Power Services, Corp. (2019-Present); formerly, Advisory Board Member, Performance Trust Capital Partners, LLC (2008-2020). |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Independent Trustees |
Position(s) Held with Trust |
Term of and Served* |
Principal Occupation(s) During the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other Held by Independent | |||||
Joanne Pace–1958 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Trustee | Since 2019 | Formerly, Senior Advisor, SECOR Asset Management, LP (2010-2011); Managing Director and Chief Operating Officer, Morgan Stanley Investment Management (2006-2010); Partner and Chief Operating Officer, FrontPoint Partners, LLC (alternative investments) (2005-2006); Managing Director (2003-2005), Global Head of Human Resources and member of Executive Board and Operating Committee (2004-2005), Global Head of Operations and Product Control (2003-2004), Credit Suisse (investment banking); Managing Director (1997-2003), Controller and Principal Accounting Officer (1999-2003), Chief Financial Officer (temporary assignment) for the Oversight Committee, Long Term Capital Management (1998-1999), Morgan Stanley. | 234 | Board Director, Horizon Blue Cross Blue Shield of New Jersey (2012- Present); Advisory Board Director, The Alberleen Group LLC (2012-Present); Governing Council Member (2016- Present) and Chair of Education Committee (2017-Present), Independent Directors Council (IDC); Council Member, New York-Presbyterian Hospital’s Leadership Council on Children’s and Women’s Health (2012-Present); formerly, Board Member, 100 Women in Finance (2015-2020); Trustee, certain funds in the Oppenheimer Funds complex (2012-2019); Lead Independent Director and Chair of the Audit and Nominating Committee of The Global Chartist Fund, LLC, Oppenheimer Asset Management (2011-2012); Board Director, Managed Funds Association (2008-2010); Board Director (2007-2010) and Investment Committee Chair (2008-2010), Morgan Stanley Foundation. |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Independent Trustees |
Position(s) Held with Trust |
Term of Office and Length of Time Served* |
Principal the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Independent Trustees |
Other the Past 5 Years | |||||
Gary R. Wicker - 1961 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Trustee | Since 2013 | Senior Vice President of Global Finance and Chief Financial Officer, RBC Ministries (publishing company) (2013-Present); formerly, Executive Vice President and Chief Financial Officer, Zondervan Publishing (a division of Harper Collins/NewsCorp) (2007-2012); Senior Vice President and Group Controller (2005- 2006), Senior Vice President and Chief Financial Officer (2003-2004), Chief Financial Officer (2001-2003), Vice President, Finance and Controller (1999-2001) and Assistant Controller (1997-1999), divisions of The Thomson Corporation (information services provider); Senior Audit Manager (1994-1997), PricewaterhouseCoopers LLP. | 234 | Board Member and Treasurer, Our Daily Bread Ministries Canada (2015- Present); Board and Finance Committee Member, West Michigan Youth For Christ (2010- Present). | |||||
Donald H. Wilson - 1959 c/o Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Chairman of the Board and Trustee | Chairman since 2012; Trustee since 2007 | Chairman, President and Chief Executive Officer, McHenry Bancorp Inc. and McHenry Savings Bank (subsidiary) (2018-Present); formerly, Chairman and Chief Executive Officer, Stone Pillar Advisors, Ltd. (2010-2017); President and Chief Executive Officer, Stone Pillar Investments, Ltd. (advisory services to the financial sector) (2016-2018); Chairman, President and Chief Executive Officer, Community Financial Shares, Inc. and Community Bank–Wheaton/Glen Ellyn (subsidiary) (2013-2015); Chief Operating Officer, AMCORE Financial, Inc. (bank holding company) (2007-2009); Executive Vice President and Chief Financial Officer, AMCORE Financial, Inc. (2006-2007); Senior Vice President and Treasurer, Marshall & Ilsley Corp. (bank holding company) (1995-2006). | 234 | Director, Penfield Children’s Center (2004-Present); Board Chairman, Gracebridge Alliance, Inc. (2015-Present). |
* |
This is the date the Independent Trustee began serving the Trust. Each Independent Trustee serves an indefinite term, until his or her successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
The Interested Trustee and the executive officers of the Trust, their term of office and length of time served, their principal business occupations during at least the past five years, the number of portfolios in the Fund Complex overseen by the Interested Trustee and the other directorships, if any, held by the Interested Trustee are shown below:
Name, Address and Year of Birth of Interested Trustee |
Position(s) Held with Trust |
Term of Served* |
Principal the Past 5 Years |
Number of Portfolios in Fund Complex** Overseen by Interested Trustee |
Other Directorships Held by Interested Trustee During the Past 5 Years | |||||
Kevin M. Carome–1956 Invesco Ltd. Two Peachtree Pointe 1555 Peachtree St., N.E., Suite 1800 Atlanta, GA 30309 |
Trustee | Since 2010 | Senior Managing Director, Secretary and General Counsel, Invesco Ltd. (2007-Present); Director, Invesco Advisers, Inc. (2009-Present); Director (2006-Present) and Executive Vice President (2008-Present), Invesco North American Holdings, Inc.; Executive Vice President (2008-Present), Invesco Investments (Bermuda) Ltd.; Manager, Horizon Flight Works LLC; and Executive Vice President (2014-Present), INVESCO Asset Management (Bermuda) Ltd.; formerly, Director and Secretary (2012-2020), Invesco Services (Bahamas) Private Limited; Director, Invesco Finance PLC (2011-2019); Director, INVESCO Asset Management (Bermuda) Ltd. (2014-2019); Director and Executive Vice President, Invesco Finance, Inc. (2011-2018); Director (2006-2018) and Executive Vice President (2008-2018), Invesco Group Services, Inc., Invesco Holding Company (US), Inc.; Director, Invesco Holding Company Limited (2007-2019); Director and Chairman, INVESCO Funds Group, Inc., Senior Vice President, Secretary and General Counsel, Invesco Advisers, Inc. (2003-2006); Director, Invesco Investments (Bermuda) Ltd. (2008-2016); Senior Vice President and General Counsel, Liberty Financial Companies, Inc. (2000-2001); General Counsel of certain investment management subsidiaries of Liberty Financial Companies, Inc. (1998-2000); Associate General Counsel, Liberty Financial Companies, Inc. (1993-1998); Associate, Ropes & Gray LLP. | 234 | None |
* |
This is the date the Interested Trustee began serving the Trust. The Interested Trustee serves an indefinite term, until his successor is elected. |
** |
Fund Complex includes all open- and closed-end funds (including all of their portfolios) advised by the Adviser and any affiliated person of the Adviser. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Executive Officers |
Position(s) Held with Trust |
Length of Served* |
Principal Occupation(s) During the Past 5 Years | |||
Anna Paglia–1974 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
President and Principal Executive Officer | Since 2020 | President and Principal Executive Officer, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange- Traded Self-Indexed Fund Trust (2020-Present); Managing Director and Global Head of ETFs and Indexed Strategies, Chief Executive Officer and Principal Executive Officer, Invesco Capital Management LLC (2020-Present); Chief Executive Officer, Manager and Principal Executive Officer, Invesco Specialized Products, LLC (2020-Present); Vice President, Invesco Indexing LLC (2020-Present); formerly, Secretary, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust and Invesco Actively Managed Exchange-Traded Fund Trust (2011-2020), Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-2020) and Invesco Exchange-Traded Self-Indexed Fund Trust (2015-2020); Head of Legal (2010-2020) and Secretary (2015-2020), Invesco Capital Management LLC; Manager and Assistant Secretary, Invesco Indexing LLC (2017-2020); Head of Legal and Secretary, Invesco Specialized Products, LLC (2018-2020); Partner, K&L Gates LLP (formerly, Bell Boyd & Lloyd LLP) (2007-2010); and Associate Counsel at Barclays Global Investors Ltd. (2004-2006). | |||
Adrien Deberghes–1967 Invesco Capital Management LLC 11 Greenway Plaza, Suite 1000 Houston, TX 77046 |
Vice President | Since 2020 | Vice President, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange- Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust (2020-Present); Head of the Fund Office of the CFO, Fund Administration and Vice President, Invesco Advisers, Inc. (2020-Present); Principal Financial Officer, Treasurer and Vice President, The Invesco Funds (2020-Present); formerly, Senior Vice President and Treasurer, Fidelity Investments (2008-2020). | |||
Kelli Gallegos–1970 Invesco Capital Management LLC 11 Greenway Plaza, Suite 1000 Houston, TX 77046 |
Vice President and Treasurer | Since 2018 | Vice President, Invesco Advisers, Inc. (2020-Present); Principal Financial and Accounting Officer- Pooled Investments, Invesco Specialized Products, LLC (2018-Present); Vice President and Treasurer, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust (2018-Present); Principal Financial and Accounting Officer-Pooled Investments, Invesco Capital Management LLC (2018-Present); Vice President and Assistant Treasurer (2008-Present), The Invesco Funds; formerly, Principal Financial Officer (2016-2020) and Assistant Vice President (2008-2016), The Invesco Funds; Assistant Treasurer, Invesco Specialized Products, LLC (2018); Assistant Treasurer, Invesco Exchange- Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust and Invesco Actively Managed Exchange-Traded Fund Trust (2012-2018), Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-2018) and Invesco Exchange-Traded Self-Indexed Fund Trust (2016-2018); and Assistant Treasurer, Invesco Capital Management LLC (2013-2018). |
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This is the date each Officer began serving the Trust in their current position. Each Officer serves an indefinite term, until his or her successor is elected. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Executive Officers |
Position(s) Held with Trust |
Length of Time Served* |
Principal Occupation(s) During the Past 5 Years | |||
Adam Henkel–1980 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Secretary | Since 2020 | Head of Legal and Secretary, Invesco Capital Management LLC and Invesco Specialized Products, LLC (2020-present); Secretary, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange- Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust (2020-Present); Assistant Secretary, Invesco Capital Markets, Inc. (2020-Present); Assistant Secretary, the Invesco Funds (2014-Present); Manager and Assistant Secretary, Invesco Indexing LLC (2020-Present); Assistant Secretary, Invesco Investment Advisers LLC (2020-Present); formerly, Assistant Secretary of Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange- Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust and Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-2020); Chief Compliance Officer of Invesco Capital Management LLC (2017); Chief Compliance Officer of Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust and Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2017); Senior Counsel, Invesco, Ltd. (2013-2020); Assistant Secretary, Invesco Specialized Products, LLC (2018-2020). | |||
Peter Hubbard–1981 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Vice President |
Since 2009 | Vice President, Invesco Specialized Products, LLC (2018-Present); Vice President, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust (2009-Present), Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-Present) and Invesco Exchange-Traded Self-Indexed Fund Trust (2016-Present); Vice President and Director of Portfolio Management, Invesco Capital Management LLC (2010-Present); formerly, Vice President of Portfolio Management, Invesco Capital Management LLC (2008-2010); Portfolio Manager, Invesco Capital Management LLC (2007-2008); Research Analyst, Invesco Capital Management LLC (2005-2007); Research Analyst and Trader, Ritchie Capital, a hedge fund operator (2003-2005). | |||
Michael McMaster–1962 Invesco Capital Management LLC 11 Greenway Plaza, Suite 1000 Houston, TX 77046 |
Chief Tax Officer |
Since 2020 | Vice President and Head of Global Fund Services Tax, Invesco Advisers, Inc. (2020-Present); Chief Tax Officer, Vice President and Assistant Treasurer, The Invesco Funds (2020-Present); Assistant Treasurer, Invesco Capital Management LLC (2020-Present); Chief Tax Officer and Assistant Treasurer, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange-Traded Self-Indexed Fund Trust (2020-Present); Assistant Treasurer, Invesco Specialized Products, LLC (2020-Present); formerly, Senior Vice President, Managing Director of Tax Services, U.S. Bank Global Fund Services (GFS) (2007-2020). |
* |
This is the date each Officer began serving the Trust in their current position. Each Officer serves an indefinite term, until his or her successor is elected. |
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Trustees and Officers–(continued)
Name, Address and Year of Birth of Executive Officers |
Position(s) Held with Trust |
Length of Time Served* |
Principal Occupation(s) During the Past 5 Years | |||
Sheri Morris–1964 Invesco Capital Management LLC 11 Greenway Plaza, Suite 1000 Houston, TX 77046 |
Vice President | Since 2012 | Head of Global Fund Services, Invesco Ltd. (2019-Present); Vice President, OppenheimerFunds, Inc. (2019-Present); President and Principal Executive Officer, The Invesco Funds (2016-Present); Senior Vice President, Invesco Advisers, Inc. (formerly known as Invesco Institutional (N.A.), Inc.) (registered investment adviser) (2020-Present) and Vice President, Invesco Exchange- Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust (2012-Present), Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-Present) and Invesco Exchange-Traded Self-Indexed Fund Trust (2016-Present); formerly, Treasurer (2008-2020), Vice President and Principal Financial Officer, The Invesco Funds (2008-2016); Treasurer, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust and Invesco Actively Managed Exchange- Traded Fund Trust (2011-2013); Vice President, Invesco Aim Advisers, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc.; Treasurer, Assistant Vice President and Assistant Treasurer, The Invesco Funds and Assistant Vice President, Invesco Advisers, Inc., Invesco Aim Capital Management, Inc. and Invesco Aim Private Asset Management, Inc.; Vice President, Invesco Advisers, Inc. (2009-2020). | |||
Rudolf E. Reitmann–1971 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Vice President | Since 2013 | Head of Global Exchange Traded Funds Services, Invesco Specialized Products, LLC (2018-Present); Vice President, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust (2013-Present), Invesco Actively Managed Exchange-Traded Commodity Fund Trust (2014-Present) and Invesco Exchange-Traded Self-Indexed Fund Trust (2016-Present); Head of Global Exchange Traded Funds Services, Invesco Capital Management LLC (2013-Present); Vice President, Invesco Capital Markets, Inc. (2018-Present). | |||
Melanie Zimdars–1976 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 Downers Grove, IL 60515 |
Chief Compliance Officer | Since 2017 | Chief Compliance Officer, Invesco Specialized Products, LLC (2018-Present); Chief Compliance Officer, Invesco Capital Management LLC (2017-Present); Chief Compliance Officer, Invesco Exchange-Traded Fund Trust, Invesco Exchange-Traded Fund Trust II, Invesco India Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Fund Trust, Invesco Actively Managed Exchange-Traded Commodity Fund Trust and Invesco Exchange- Traded Self-Indexed Fund Trust (2017-Present); formerly, Vice President and Deputy Chief Compliance Officer, ALPS Holding, Inc. (2009-2017); Mutual Fund Treasurer/ Chief Financial Officer, Wasatch Advisors, Inc. (2005-2008); Compliance Officer, U.S. Bancorp Fund Services, LLC (2001-2005). |
* |
This is the date each Officer began serving the Trust in their current position. Each Officer serves an indefinite term, until his or her successor is elected. |
Availability of Additional Information About the Trustees
The Statement of Additional Information includes additional information about the Trustees and is available, without charge, upon request at (800) 983-0903.
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Proxy Voting Policies and Procedures
A description of the Trust’s proxy voting policies and procedures that the Funds use to determine how to vote proxies relating to portfolio securities is available, without charge and upon request, by calling (800) 983-0903. This information is also available on the Securities and Exchange Commission’s (the “Commission”) website at www.sec.gov.
Information regarding how each Fund voted proxies for portfolio securities, if applicable, during the most recent 12-month period ended June 30, is available, without charge and upon request, by (i) calling (800) 983-0903; or (ii) accessing the Trust’s Form N-PX on the Commission’s website at www.sec.gov.
Quarterly Portfolios
The Trust files its complete schedule of portfolio holdings for the Funds with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Forms N-PORT are available on the Commission’s website at www.sec.gov.
Frequency Distribution of Discounts and Premiums
A table showing the number of days the market price of each Fund’s shares was greater than the Fund’s net asset value, and the number of days it was less than the Fund’s net asset value (i.e., premium or discount) for the most recently completed calendar year, and the calendar quarters since that year end (or the life of the Fund, if shorter) may be found at the Fund’s website at www.invesco.com/ETFs.
©2021 Invesco Capital Management LLC 3500 Lacey Road, Suite 700 |
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Downers Grove, IL 60515 | P-PBETA-AR-1 | invesco.com/ETFs |