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Invesco Semi-Annual Report to Shareholders

 

October 31, 2022

    PWC     Invesco Dynamic Market ETF
  PRF      Invesco FTSE RAFI US 1000 ETF
  PRFZ   Invesco FTSE RAFI US 1500 Small-Mid ETF

 

Table of Contents

Schedules of Investments

 

Invesco Dynamic Market ETF (PWC)

      3  

Invesco FTSE RAFI US 1000 ETF (PRF)

      6  

Invesco FTSE RAFI US 1500 Small-Mid ETF (PRFZ)

      17  
Statements of Assets and Liabilities      32  
Statements of Operations      33  
Statements of Changes in Net Assets      34  
Financial Highlights      36  
Notes to Financial Statements      39  
Fund Expenses      48  

 

    2    

 

  

 

 

 

Invesco Dynamic Market ETF (PWC)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares   Value  

Common Stocks & Other Equity Interests-100.00%

 

Communication Services-7.98%

     

AT&T, Inc.

      157,988       $ 2,880,121  

EchoStar Corp., Class A(b)(c)

      42,967       810,787  

Scholastic Corp.

      18,185       693,576  

Sinclair Broadcast Group, Inc., Class A(c)

      34,721       618,381  

Sirius XM Holdings, Inc.(c)

      454,270       2,743,791  
    

 

 

  
       7,746,656  
    

 

 

  

Consumer Discretionary-13.11%

     

Bowlero Corp.(b)(c)

      31,128       453,224  

Cavco Industries, Inc.(b)

      1,400       317,338  

Dillard’s, Inc., Class A

      1,162       382,054  

frontdoor, inc.(b)(c)

      14,176       312,723  

Genuine Parts Co.

      13,451       2,392,395  

Grand Canyon Education, Inc.(b)

      4,341       436,835  

Green Brick Partners, Inc.(b)(c)

      13,723       317,413  

H&R Block, Inc.(c)

      7,804       321,135  

Home Depot, Inc. (The)

      6,917       2,048,331  

Murphy USA, Inc.

      1,228       386,218  

O’Reilly Automotive, Inc.(b)

      2,950       2,469,651  

Red Rock Resorts, Inc., Class A

      8,999       374,808  

Target Hospitality Corp.(b)(c)

      24,763       301,366  

Ulta Beauty, Inc.(b)

      5,290       2,218,467  
    

 

 

  
       12,731,958  
    

 

 

  

Consumer Staples-7.08%

     

Archer-Daniels-Midland Co.

      25,939       2,515,564  

Cal-Maine Foods, Inc.(c)

      6,194       350,023  

General Mills, Inc.

      29,330       2,392,741  

Grocery Outlet Holding Corp.(b)

      8,191       283,163  

Ingles Markets, Inc., Class A

      3,249       306,608  

Molson Coors Beverage Co., Class B

      5,852       295,116  

SpartanNash Co.

      10,450       373,170  

Weis Markets, Inc.(c)

      3,840       359,693  
    

 

 

  
       6,876,078  
    

 

 

  

Energy-5.10%

     

Arch Resources, Inc.

      2,156       328,337  

Chord Energy Corp.

      2,451       375,224  

Hess Midstream L.P., Class A

      11,512       333,157  

Marathon Petroleum Corp.

      15,929       1,809,853  

PBF Energy, Inc., Class A(b)(c)

      9,419       416,791  

Valero Energy Corp.

      13,501       1,695,051  
    

 

 

  
       4,958,413  
    

 

 

  

Financials-12.53%

     

American Equity Investment Life Holding Co.

      7,397       318,663  

Arch Capital Group Ltd.(b)

      28,452       1,635,990  

BancFirst Corp.(c)

      2,547       244,053  

BOK Financial Corp.(c)

      3,099       341,479  

Encore Capital Group, Inc.(b)

      5,041       256,688  

Enova International, Inc.(b)

      7,833       293,659  

International Bancshares Corp.

      6,582       326,467  

Jackson Financial, Inc., Class A(c)

      8,496       325,907  

LendingClub Corp.(b)

      20,677       220,003  

M&T Bank Corp.

      7,210       1,213,948  

MetLife, Inc.

      20,234       1,481,331  

OFG Bancorp

      10,073       280,835  

PennyMac Financial Services, Inc.

      5,187       276,571  
     Shares   Value  

Financials-(continued)

     

Raymond James Financial, Inc.

      12,476       $ 1,473,915  

Regions Financial Corp.

      60,257       1,322,641  

Towne Bank

      9,683       318,958  

Unum Group

      7,290       332,351  

W.R. Berkley Corp.

      20,199       1,502,402  
    

 

 

  
       12,165,861  
    

 

 

  

Health Care-14.50%

     

Allscripts Healthcare Solutions, Inc.(b)

      22,077       324,532  

AmerisourceBergen Corp.

      15,925       2,503,729  

Arcus Biosciences, Inc.(b)(c)

      14,153       360,618  

Arvinas, Inc.(b)(c)

      8,138       404,540  

Bausch + Lomb Corp.(b)(c)

      23,595       336,465  

Cardinal Health, Inc.

      34,677       2,631,984  

Embecta Corp.(c)

      11,415       352,952  

Evolent Health, Inc., Class A(b)(c)

      10,367       329,774  

Jazz Pharmaceuticals PLC(b)

      2,346       337,331  

Lantheus Holdings, Inc.(b)

      4,550       336,655  

Maravai LifeSciences Holdings, Inc., Class A(b)

     15,424       256,038  

McKesson Corp.

      6,476       2,521,560  

Medpace Holdings, Inc.(b)

      2,248       499,011  

Vertex Pharmaceuticals, Inc.(b)

      8,236       2,569,632  

Vir Biotechnology, Inc.(b)(c)

      14,721       323,568  
    

 

 

  
       14,088,389  
    

 

 

  

Industrials-8.73%

     

Avis Budget Group, Inc.(b)(c)

      1,917       453,294  

Boise Cascade Co.

      4,758       317,692  

Builders FirstSource, Inc.(b)

      5,169       318,720  

Carlisle Cos., Inc.

      6,705       1,601,154  

Encore Wire Corp.(c)

      2,362       324,988  

Icahn Enterprises L.P.

      40,122       2,188,254  

Matson, Inc.(c)

      4,133       304,106  

PACCAR, Inc.

      22,753       2,203,173  

Veritiv Corp.(b)(c)

      2,419       281,233  

XPO Logistics, Inc.(b)(c)

      6,277       324,772  

ZIM Integrated Shipping Services Ltd. (Israel)

      6,819       160,178  
    

 

 

  
       8,477,564  
    

 

 

  

Information Technology-25.53%

     

Automatic Data Processing, Inc.

      14,471       3,497,641  

Avnet, Inc.

      16,244       652,846  

Belden, Inc.

      10,643       741,072  

Broadcom, Inc.

      6,986       3,284,258  

Enphase Energy, Inc.(b)

      12,969       3,981,483  

HP, Inc.

      110,801       3,060,324  

Jabil, Inc.

      11,638       747,741  

KLA Corp.

      10,215       3,232,537  

NetScout Systems, Inc.(b)(c)

      22,256       799,436  

Paysafe Ltd.(b)

      394,687       576,243  

PC Connection, Inc.

      14,154       752,144  

Photronics, Inc.(b)

      31,025       503,225  

Pure Storage, Inc., Class A(b)(c)

      24,338       751,071  

Qualys, Inc.(b)

      4,709       671,315  

Sanmina Corp.(b)

      14,349       804,261  

Super Micro Computer, Inc.(b)(c)

      10,675       742,873  
    

 

 

  
       24,798,470  
    

 

 

  

 

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

 

    3    

 

  

 

 

 

Invesco Dynamic Market ETF (PWC)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Materials-2.72%

     

Alpha Metallurgical Resources, Inc.

      1,663       $ 280,798  

Nucor Corp.

      13,938       1,831,174  

United States Steel Corp.

      11,786       239,963  

Warrior Met Coal, Inc.

      7,874       292,440  
    

 

 

  
       2,644,375  
    

 

 

  

Utilities-2.72%

     

Consolidated Edison, Inc.

      20,247       1,780,926  

NRG Energy, Inc.

      10,266       455,810  

ONE Gas, Inc.

      5,272       408,475  
    

 

 

  
       2,645,211  
    

 

 

  

Total Common Stocks & Other Equity Interests (Cost $95,251,398)

        97,132,975  
    

 

 

  

Money Market Funds-0.05%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $51,468)

      51,468       51,468  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.05% (Cost $95,302,866)

        97,184,443  
    

 

 

  
     Shares   Value  
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-13.18%

     

Invesco Private Government Fund,
3.18%(d)(e)(f)

      3,816,640       $ 3,816,640  

Invesco Private Prime Fund, 3.28%(d)(e)(f)

      8,980,641       8,980,641  
    

 

 

  

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $12,797,388)

 

     12,797,281  
    

 

 

  

TOTAL INVESTMENTS IN SECURITIES-113.23%
(Cost $108,100,254)

 

     109,981,724  

OTHER ASSETS LESS LIABILITIES-(13.23)%

 

     (12,851,106 ) 
    

 

 

  

NET ASSETS-100.00%

 

   $ 97,130,618  
    

 

 

  

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d) 

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

 

    

Value
April 30, 2022

    Purchases
at Cost		    Proceeds
from Sales		   Change in
Unrealized
Appreciation
(Depreciation)		   Realized
Gain		   

Value

October 31, 2022

    Dividend
Income
                                          
Investments in Affiliated Money Market Funds:                                           
Invesco Government & Agency Portfolio, Institutional Class           $ 111,719                  $ 1,837,752      $ (1,898,003 )     $ -     $ -      $ 51,468      $ 862
Investments Purchased with Cash Collateral from Securities on Loan:                                           
Invesco Private Government Fund             2,120,222             18,717,557        (17,021,139 )       -       -        3,816,640        30,528 *
Invesco Private Prime Fund             4,944,307             40,827,713        (36,791,266 )       (132 )       19        8,980,641        83,304 *
         

 

 

            

 

 

       

 

 

      

 

 

      

 

 

       

 

 

       

 

 

  
Total           $ 7,176,248           $ 61,383,022      $ (55,710,408 )     $ (132 )     $ 19      $ 12,848,749      $ 114,694
         

 

 

            

 

 

       

 

 

      

 

 

      

 

 

       

 

 

       

 

 

  

 

*

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

 

(e)

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

(f) 

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

 

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

 

    4    

 

  

 

 

 

Invesco Dynamic Market ETF (PWC)–(continued)

October 31, 2022

(Unaudited)

 

Portfolio Composition

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

as of October 31, 2022

 

   

Information Technology

    25.53                                     

Health Care

    14.50

Consumer Discretionary

    13.11

Financials

    12.53

Industrials

      8.73

Communication Services

      7.98

Consumer Staples

      7.08

Energy

      5.10

Sector Types Each Less Than 3%

      5.44
Money Market Funds Plus Other Assets Less Liabilities    (0.00)

 

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

 

    5    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares   Value  

Common Stocks & Other Equity Interests-99.88%

 

Communication Services-7.36%

     

Activision Blizzard, Inc.

      70,848       $        5,157,734  

Alphabet, Inc., Class A(b)

      352,908       33,353,335  

Alphabet, Inc., Class C(b)

      330,152       31,252,188  

Altice USA, Inc., Class A(b)

      222,587       1,471,300  

AMC Entertainment Holdings, Inc., Class A(b)(c)

      47,907       319,061  

AMC Networks, Inc., Class A(b)(c)

      22,048       496,300  

AT&T, Inc.

      5,224,001       95,233,538  

Cable One, Inc.(c)

      477       409,948  

Charter Communications, Inc., Class A(b)

      26,448       9,722,814  

Cinemark Holdings, Inc.(b)(c)

      62,286       660,854  

Comcast Corp., Class A

      1,217,543       38,644,815  

DISH Network Corp., Class A(b)(c)

      121,605       1,813,130  

Electronic Arts, Inc.

      21,347       2,688,868  

Fox Corp., Class A

      78,790       2,274,667  

Fox Corp., Class B

      37,368       1,016,410  

Frontier Communications Parent, Inc.(b)(c)

     31,477       737,191  

Gray Television, Inc.

      44,984       636,524  

IAC, Inc.(b)(c)

      8,508       414,169  

iHeartMedia, Inc., Class A(b)(c)

      62,060       513,857  

Interpublic Group of Cos., Inc. (The)

      93,502       2,785,425  

Liberty Broadband Corp., Class A(b)(c)

      2,225       189,837  

Liberty Broadband Corp., Class C(b)(c)

      14,198       1,198,737  

Liberty Global PLC, Class A (United Kingdom)(b)

      108,553       1,830,204  

Liberty Global PLC, Class C (United Kingdom)(b)

      211,680       3,738,269  

Liberty Latin America Ltd., Class A
(Chile)(b)(c)

      16,053       124,892  

Liberty Latin America Ltd., Class C
(Chile)(b)(c)

      62,208       484,600  

Liberty Media Corp.-Liberty Formula One, Class A(b)(c)

      2,746       142,847  

Liberty Media Corp.-Liberty Formula One, Class C(b)(c)

      24,638       1,422,352  

Liberty Media Corp.-Liberty SiriusXM, Class A(b)(c)

      23,781       1,009,266  

Liberty Media Corp.-Liberty SiriusXM, Class C(b)

      41,237       1,739,789  

Lions Gate Entertainment Corp., Class A(b)(c)

      21,731       175,152  

Lions Gate Entertainment Corp., Class B(b)

      43,975       333,770  

Live Nation Entertainment, Inc.(b)

      8,221       654,474  

Lumen Technologies, Inc.(c)

      1,183,352       8,709,471  

Match Group, Inc.(b)

      7,877       340,286  

Meta Platforms, Inc., Class A(b)

      243,549       22,689,025  

Netflix, Inc.(b)

      16,587       4,841,414  

News Corp., Class A

      80,278       1,354,290  

News Corp., Class B(c)

      24,751       423,985  

Nexstar Media Group, Inc., Class A(c)

      8,742       1,497,505  

Omnicom Group, Inc.(c)

      66,197       4,815,832  

Paramount Global, Class B(c)

      285,695       5,233,932  

Spotify Technology S.A.(b)

      7,539       607,493  

Take-Two Interactive Software, Inc.(b)

      9,582       1,135,275  

TEGNA, Inc.(c)

      61,633       1,286,897  

Telephone & Data Systems, Inc.

      75,745       1,287,665  
     Shares   Value  

Communication Services-(continued)

     

T-Mobile US, Inc.(b)

      123,823       $ 18,766,614  

Verizon Communications, Inc.

      1,683,393       62,908,396  

Walt Disney Co. (The)(b)

      253,711       27,030,370  

Warner Bros Discovery, Inc.(b)(c)

      1,411,101       18,344,313  
    

 

 

  
          423,919,080  
    

 

 

  

Consumer Discretionary-8.35%

     

Abercrombie & Fitch Co., Class A(b)(c)

      21,664       380,853  

Academy Sports & Outdoors, Inc.(c)

      33,575       1,478,307  

Adient PLC(b)(c)

      47,970       1,677,991  

Advance Auto Parts, Inc.

      10,921       2,074,116  

Amazon.com, Inc.(b)

      462,139       47,341,519  

American Axle & Manufacturing Holdings,
Inc.(b)(c)

      102,259       990,890  

American Eagle Outfitters, Inc.(c)

      47,894       544,076  

Aptiv PLC(b)

      34,480       3,140,094  

Aramark(c)

      77,972       2,845,978  

Asbury Automotive Group, Inc.(b)(c)

      8,235       1,299,071  

Autoliv, Inc. (Sweden)

      23,926       1,922,454  

AutoNation, Inc.(b)(c)

      27,310       2,903,326  

AutoZone, Inc.(b)

      2,143       5,427,962  

Bath & Body Works, Inc.

      70,079       2,339,237  

Bed Bath & Beyond, Inc.(b)(c)

      137,229       627,137  

Best Buy Co., Inc.

      94,832       6,487,457  

Big Lots, Inc.(c)

      35,699       673,640  

Bloomin’ Brands, Inc.(c)

      30,923       742,461  

Booking Holdings, Inc.(b)

      2,518       4,707,351  

BorgWarner, Inc.(c)

      81,743       3,067,815  

Bright Horizons Family Solutions, Inc.(b)(c)

     6,062       395,970  

Brinker International, Inc.(b)(c)

      19,408       648,033  

Brunswick Corp.(c)

      14,056       993,337  

Burlington Stores, Inc.(b)(c)

      7,107       1,016,017  

Caesars Entertainment, Inc.(b)

      18,979       829,952  

Capri Holdings Ltd.(b)

      25,099       1,146,522  

CarMax, Inc.(b)(c)

      45,839       2,888,315  

Carnival Corp.(b)(c)

      360,233       3,263,711  

Carter’s, Inc.(c)

      11,747       797,269  

Chipotle Mexican Grill, Inc.(b)(c)

      1,044       1,564,256  

Cracker Barrel Old Country Store, Inc.(c)

      9,494       1,084,405  

D.R. Horton, Inc.

      62,536       4,807,768  

Dana, Inc.

      77,022       1,229,271  

Darden Restaurants, Inc.

      21,233       3,039,292  

Deckers Outdoor Corp.(b)(c)

      3,118       1,091,082  

Dick’s Sporting Goods, Inc.(c)

      15,195       1,728,583  

Dollar General Corp.

      35,659       9,094,828  

Dollar Tree, Inc.(b)

      45,910       7,276,735  

Domino’s Pizza, Inc.

      2,730       907,015  

eBay, Inc.

      78,195       3,115,289  

Expedia Group, Inc.(b)

      12,233       1,143,418  

Foot Locker, Inc.(c)

      48,515       1,537,925  

Ford Motor Co.(c)

      2,085,148       27,878,429  

GameStop Corp., Class A(b)(c)

      34,902       988,076  

Gap, Inc. (The)(c)

      154,071       1,736,380  

Garmin Ltd.

      22,552       1,985,478  

General Motors Co.

      840,482       32,988,918  

Gentex Corp.

      41,748       1,105,904  

Genuine Parts Co.

      35,635       6,338,041  

G-III Apparel Group Ltd.(b)(c)

      27,055       527,572  

 

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

 

    6    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Consumer Discretionary-(continued)

     

Goodyear Tire & Rubber Co. (The)(b)(c)

      224,845       $        2,855,531  

Graham Holdings Co., Class B

      1,555       970,118  

Group 1 Automotive, Inc.(c)

      10,129       1,752,317  

H&R Block, Inc.(c)

      65,051       2,676,849  

Hanesbrands, Inc.(c)

      139,979       954,657  

Harley-Davidson, Inc.(c)

      53,473       2,299,339  

Hasbro, Inc.

      25,266       1,648,606  

Hilton Worldwide Holdings, Inc.

      14,591       1,973,579  

Home Depot, Inc. (The)

      124,178       36,772,831  

International Game Technology PLC(c)

      29,912       599,736  

KB Home

      27,197       783,818  

Kohl’s Corp.(c)

      93,429       2,798,199  

Las Vegas Sands Corp.(b)

      101,722       3,866,453  

LCI Industries(c)

      6,180       655,760  

Lear Corp.(c)

      26,299       3,647,934  

Leggett & Platt, Inc.(c)

      47,293       1,596,139  

Lennar Corp., Class A(c)

      62,950       5,080,065  

Lennar Corp., Class B(c)

      3,422       223,183  

Light & Wonder, Inc.(b)(c)

      21,647       1,215,263  

Lithia Motors, Inc., Class A(c)

      6,561       1,300,062  

LKQ Corp.

      71,749       3,992,114  

Lowe’s Cos., Inc.

      88,462       17,245,667  

lululemon athletica, inc.(b)

      5,048       1,660,994  

M.D.C. Holdings, Inc.

      20,161       614,104  

M/I Homes, Inc.(b)(c)

      15,379       638,075  

Macy’s, Inc.

      210,892       4,397,098  

Marriott International, Inc., Class A

      23,805       3,811,419  

Marriott Vacations Worldwide Corp.(c)

      6,092       900,154  

Mattel, Inc.(b)(c)

      58,357       1,106,449  

McDonald’s Corp.

      85,916       23,425,857  

Meritage Homes Corp.(b)

      13,926       1,060,604  

MGM Resorts International

      88,979       3,164,983  

Mohawk Industries, Inc.(b)

      24,853       2,354,822  

Murphy USA, Inc.

      11,609       3,651,147  

Newell Brands, Inc.

      109,686       1,514,764  

NIKE,Inc.,Class B

      82,139       7,612,642  

Nordstrom, Inc.(c)

      104,426       2,124,025  

Norwegian Cruise Line Holdings Ltd.(b)(c)

      95,367       1,610,749  

NVR, Inc.(b)

      483       2,046,833  

ODP Corp. (The)(b)(c)

      33,203       1,313,843  

O’Reilly Automotive, Inc.(b)

      5,206       4,358,307  

PENN Entertainment, Inc.(b)(c)

      35,178       1,164,392  

Penske Automotive Group, Inc.

      15,182       1,694,615  

Polaris, Inc.(c)

      13,570       1,378,712  

Pool Corp.

      2,122       645,576  

PulteGroup, Inc.

      70,268       2,810,017  

PVH Corp.(c)

      21,940       1,125,961  

Qurate Retail, Inc., Class A(c)

      368,883       863,186  

Ralph Lauren Corp.(c)

      10,247       949,794  

Ross Stores, Inc.

      47,795       4,573,504  

Royal Caribbean Cruises Ltd.(b)(c)

      49,391       2,636,492  

Sally Beauty Holdings, Inc.(b)(c)

      59,343       754,249  

Service Corp. International(c)

      27,388       1,659,987  

Signet Jewelers Ltd.(c)

      16,649       1,086,181  

Six Flags Entertainment Corp.(b)(c)

      22,594       503,846  

Skechers U.S.A., Inc., Class A(b)(c)

      28,333       975,505  

Sonic Automotive, Inc., Class A(c)

      14,996       701,063  

Starbucks Corp.

      129,217       11,188,900  

Tapestry, Inc.(c)

      68,144       2,158,802  

Target Corp.

      103,581       17,013,179  
     Shares   Value  

Consumer Discretionary-(continued)

     

Taylor Morrison Home Corp., Class A(b)(c)

     57,895       $ 1,524,954  

Tempur Sealy International, Inc.

      25,987       698,790  

Tesla, Inc.(b)

      24,828       5,649,363  

Texas Roadhouse, Inc.

      8,742       865,021  

Thor Industries, Inc.(c)

      19,120       1,557,706  

TJX Cos., Inc. (The)

      161,414       11,637,949  

Toll Brothers, Inc.(c)

      34,903       1,503,621  

TopBuild Corp.(b)

      3,768       641,087  

Tractor Supply Co.

      11,328       2,489,555  

Travel + Leisure Co.

      19,205       729,406  

Tri Pointe Homes, Inc.(b)(c)

      54,883       919,290  

Tupperware Brands Corp.(b)(c)

      43,583       336,897  

Ulta Beauty, Inc.(b)

      5,731       2,403,409  

Under Armour, Inc., Class A(b)(c)

      32,694       243,570  

Under Armour, Inc., Class C(b)(c)

      34,341       225,277  

Urban Outfitters, Inc.(b)(c)

      30,939       738,205  

Vail Resorts, Inc.(c)

      5,310       1,163,580  

VF Corp.

      69,616       1,966,652  

Victoria’s Secret & Co.(b)(c)

      20,699       778,282  

Visteon Corp.(b)

      13,387       1,746,602  

Wayfair, Inc., Class A(b)(c)

      6,717       254,709  

Whirlpool Corp.(c)

      25,184       3,481,436  

Williams-Sonoma, Inc.

      13,636       1,688,546  

Wynn Resorts Ltd.(b)(c)

      20,834       1,331,293  

Yum China Holdings, Inc. (China)(c)

      58,063       2,400,905  

Yum! Brands, Inc.

      31,951       3,778,206  
    

 

 

  
          480,732,887  
    

 

 

  

Consumer Staples-8.53%

     

Albertsons Cos., Inc., Class A

      140,771       2,887,213  

Altria Group, Inc.

      565,073       26,145,928  

Archer-Daniels-Midland Co.

      191,440       18,565,851  

B&G Foods, Inc.(c)

      29,850       488,943  

BJ’s Wholesale Club Holdings, Inc.(b)

      38,914       3,011,944  

Brown-Forman Corp., Class B

      17,645       1,199,860  

Bunge Ltd.

      73,068       7,211,812  

Campbell Soup Co.

      53,746       2,843,701  

Casey’s General Stores, Inc.

      9,961       2,318,024  

Church & Dwight Co., Inc.

      23,433       1,737,088  

Clorox Co. (The)

      22,294       3,255,816  

Coca-Cola Co. (The)

      540,508       32,349,404  

Coca-Cola Europacific Partners PLC (United Kingdom)(c)

      75,145       3,535,572  

Colgate-Palmolive Co.

      123,096       9,089,409  

Conagra Brands, Inc.

      131,216       4,815,627  

Constellation Brands, Inc., Class A

      24,889       6,149,574  

Costco Wholesale Corp.

      56,346       28,257,519  

Coty,Inc.,Class A(b)(c)

      94,581       634,638  

Darling Ingredients, Inc.(b)(c)

      24,046       1,887,130  

Edgewell Personal Care Co.(c)

      21,231       832,043  

Energizer Holdings, Inc.(c)

      21,597       623,937  

Estee Lauder Cos., Inc. (The), Class A

      11,343       2,274,158  

Flowers Foods, Inc.

      44,990       1,291,663  

General Mills, Inc.

      143,715       11,724,270  

Hain Celestial Group, Inc. (The)(b)(c)

      20,286       379,551  

Herbalife Nutrition Ltd.(b)(c)

      29,106       618,794  

Hershey Co. (The)

      15,766       3,764,448  

Hormel Foods Corp.

      48,342       2,245,486  

Ingredion, Inc.

      26,222       2,336,905  

JM Smucker Co. (The)

      30,992       4,669,255  

 

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

 

    7    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Consumer Staples-(continued)

     

Kellogg Co.

      67,718       $ 5,202,097  

Keurig Dr Pepper, Inc.

      133,186       5,172,944  

Kimberly-Clark Corp.

      73,459       9,142,707  

Kraft Heinz Co. (The)

      309,250       11,896,847  

Kroger Co. (The)

      460,518       21,777,896  

Lamb Weston Holdings, Inc.

      20,212       1,742,679  

McCormick & Co., Inc.

      26,524       2,085,847  

Molson Coors Beverage Co., Class B

      91,098       4,594,072  

Mondelez International, Inc., Class A

      225,931       13,890,238  

Monster Beverage Corp.(b)

      24,739       2,318,539  

Nomad Foods Ltd. (United Kingdom)(b)(c)

      36,835       567,259  

Nu Skin Enterprises, Inc., Class A

      16,958       647,626  

PepsiCo, Inc.

      214,107       38,877,549  

Performance Food Group Co.(b)(c)

      66,619       3,466,853  

Philip Morris International, Inc.

      324,905       29,842,524  

Post Holdings, Inc.(b)

      19,767       1,787,332  

Procter & Gamble Co. (The)

      322,027       43,367,376  

Rite Aid Corp.(b)(c)

      228,199       1,191,199  

Spectrum Brands Holdings, Inc.(c)

      10,693       493,375  

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

      44,816       1,322,072  

Sysco Corp.

      134,677       11,657,641  

TreeHouse Foods, Inc.(b)(c)

      30,509       1,532,772  

Tyson Foods, Inc., Class A

      96,733       6,611,701  

United Natural Foods, Inc.(b)(c)

      46,404       1,967,994  

US Foods Holding Corp.(b)

      133,875       3,984,120  

Walgreens Boots Alliance, Inc.

      497,744       18,167,656  

Walmart, Inc.

      429,079       61,070,814  
    

 

 

  
          491,525,292  
    

 

 

  

Energy-9.90%

     

Antero Resources Corp.(b)

      86,260       3,162,292  

APA Corp.

      80,000       3,636,800  

Baker Hughes Co., Class A

      288,682       7,984,944  

Cheniere Energy, Inc.

      25,031       4,415,719  

Chesapeake Energy Corp.(c)

      17,398       1,779,293  

Chevron Corp.

      599,245       108,403,420  

CNX Resources Corp.(b)(c)

      68,558       1,152,460  

ConocoPhillips

      208,126       26,242,607  

Coterra Energy, Inc.

      60,773       1,891,863  

Delek US Holdings, Inc.(c)

      71,928       2,133,384  

Devon Energy Corp.

      49,275       3,811,421  

Diamondback Energy, Inc.

      14,761       2,319,101  

DT Midstream, Inc.(c)

      22,588       1,348,504  

EOG Resources, Inc.

      87,786       11,984,545  

EQT Corp.

      66,817       2,795,623  

Equitrans Midstream Corp.(c)

      219,624       1,849,234  

Exxon Mobil Corp.

      1,524,543       168,934,610  

Halliburton Co.

      157,934       5,751,956  

Helmerich & Payne, Inc.

      57,580       2,850,786  

Hess Corp.

      26,622       3,755,832  

HF Sinclair Corp.

      101,750       6,224,048  

Kinder Morgan, Inc.

      843,200       15,278,784  

Marathon Oil Corp.

      185,224       5,640,071  

Marathon Petroleum Corp.

      247,325       28,101,067  

Murphy Oil Corp.

      54,632       2,650,198  

Nabors Industries Ltd.(b)(c)

      6,344       1,104,046  

NOV, Inc.(c)

      112,581       2,521,814  

Occidental Petroleum Corp.

      293,106       21,279,496  

ONEOK, Inc.

      120,848       7,168,703  

Ovintiv, Inc.

      43,229       2,189,549  
     Shares   Value  

Energy-(continued)

     

PBF Energy, Inc., Class A(b)

      151,559       $ 6,706,486  

PDC Energy, Inc.

      17,526       1,264,326  

Peabody Energy Corp.(b)(c)

      50,669       1,210,989  

Phillips 66

      233,331       24,334,090  

Pioneer Natural Resources Co.

      16,238       4,163,586  

Schlumberger Ltd.(c)

      343,251       17,859,350  

SM Energy Co.

      22,232       999,995  

Targa Resources Corp.

      62,071       4,243,794  

TechnipFMC PLC (United Kingdom)(b)(c)

      299,813       3,175,020  

Transocean Ltd.(b)(c)

      798,450       2,938,296  

Valaris Ltd.(b)(c)

      27,257       1,824,311  

Valero Energy Corp.

      249,493       31,323,846  

Williams Cos., Inc. (The)

      335,655       10,985,988  

World Fuel Services Corp.

      34,858       888,530  
    

 

 

  
          570,280,777  
    

 

 

  

Financials-18.81%

     

Affiliated Managers Group, Inc.

      9,814       1,218,506  

Aflac, Inc.

      204,533       13,317,144  

AGNC Investment Corp.

      248,587       2,043,385  

Allstate Corp. (The)

      116,117       14,659,771  

Ally Financial, Inc.

      144,553       3,983,881  

American Equity Investment Life Holding Co.

      46,033       1,983,102  

American Express Co.

      86,867       12,895,406  

American Financial Group, Inc.

      21,889       3,176,313  

American International Group, Inc.

      380,623       21,695,511  

Ameriprise Financial, Inc.

      18,923       5,849,478  

Annaly Capital Management, Inc.(c)

      131,579       2,440,790  

Aon PLC, Class A

      16,661       4,689,905  

Apollo Commercial Real Estate Finance,
Inc.(c)

      63,129       710,833  

Arch Capital Group Ltd.(b)(c)

      95,846       5,511,145  

Arthur J. Gallagher & Co.

      22,695       4,245,781  

Associated Banc-Corp

      53,217       1,295,834  

Assurant, Inc.

      16,523       2,244,815  

Assured Guaranty Ltd.

      30,362       1,797,127  

Atlantic Union Bankshares Corp.(c)

      19,536       674,773  

AXIS Capital Holdings Ltd.

      29,518       1,613,749  

Bank of America Corp.

      1,720,220       61,996,729  

Bank of Hawaii Corp.(c)

      9,435       716,588  

Bank of New York Mellon Corp. (The)

      260,454       10,967,718  

Bank OZK(c)

      29,716       1,277,194  

BankUnited, Inc.(c)

      28,235       1,015,048  

Berkshire Hathaway, Inc., Class B(b)

      466,072       137,533,186  

BlackRock, Inc.

      21,548       13,918,069  

Blackstone Mortgage Trust, Inc., Class A(c)

      44,971       1,122,476  

Blackstone, Inc., Class A

      40,680       3,707,575  

BOK Financial Corp.(c)

      8,078       890,115  

Bread Financial Holdings, Inc.

      28,078       1,013,897  

Brighthouse Financial, Inc.(b)

      52,421       2,991,666  

Brown & Brown, Inc.

      19,457       1,143,877  

Cadence Bank(c)

      27,558       761,979  

Cannae Holdings, Inc.(b)(c)

      30,813       713,629  

Capital One Financial Corp.

      162,483       17,226,448  

Carlyle Group, Inc. (The)

      18,808       531,890  

Cathay General Bancorp

      18,548       845,789  

Cboe Global Markets, Inc.

      11,761       1,464,244  

Charles Schwab Corp. (The)

      133,689       10,651,003  

 

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

 

    8    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Financials-(continued)

     

Chimera Investment Corp.(c)

      148,232       $ 1,000,566  

Chubb Ltd.

      101,999       21,918,565  

Cincinnati Financial Corp.

      33,107       3,420,615  

Citigroup, Inc.

      1,128,390            51,747,965  

Citizens Financial Group, Inc.

      157,417       6,438,355  

CME Group, Inc., Class A

      43,383       7,518,274  

CNO Financial Group, Inc.

      70,759       1,560,944  

Columbia Banking System, Inc.(c)

      23,173       775,600  

Comerica, Inc.

      36,342       2,562,111  

Commerce Bancshares, Inc.(c)

      17,903       1,268,249  

Community Bank System, Inc.(c)

      10,547       658,449  

Credicorp Ltd. (Peru)(c)

      21,484       3,144,398  

Cullen/Frost Bankers, Inc.(c)

      10,929       1,694,541  

Discover Financial Services

      72,319       7,554,443  

East West Bancorp, Inc.

      22,856       1,635,804  

Enstar Group Ltd.(b)

      3,755       752,953  

Equitable Holdings, Inc.

      130,426       3,993,644  

Essent Group Ltd.

      20,749       821,245  

Evercore, Inc., Class A(c)

      7,911       831,446  

Everest Re Group Ltd.

      11,338       3,658,319  

F.N.B. Corp.(c)

      120,731       1,744,563  

FactSet Research Systems, Inc.

      2,376       1,010,964  

Federated Hermes, Inc., Class B

      30,322       1,053,690  

Fidelity National Financial, Inc.

      83,076       3,271,533  

Fifth Third Bancorp

      172,309       6,149,708  

First American Financial Corp.(c)

      36,916       1,860,566  

First Citizens BancShares, Inc., Class A(c)

     1,321       1,086,021  

First Hawaiian, Inc.(c)

      40,893       1,046,043  

First Horizon Corp.

      130,155       3,190,099  

First Republic Bank

      18,557       2,228,696  

Flagstar Bancorp, Inc.

      16,557       640,756  

Franklin Resources, Inc.

      120,520       2,826,194  

Fulton Financial Corp.

      50,873       927,415  

Genworth Financial, Inc., Class A(b)(c)

      238,083       1,111,848  

Glacier Bancorp, Inc.(c)

      17,577       1,006,811  

Globe Life, Inc.

      28,488       3,290,934  

Goldman Sachs Group, Inc. (The)

      91,308       31,456,519  

Hancock Whitney Corp.

      22,794       1,273,501  

Hanover Insurance Group, Inc. (The)

      11,241       1,646,694  

Hartford Financial Services Group, Inc. (The)

      127,039       9,198,894  

Home BancShares, Inc.(c)

      37,345       951,924  

Hope Bancorp, Inc.

      42,686       579,249  

Huntington Bancshares, Inc.

      331,341       5,029,756  

Intercontinental Exchange, Inc.

      56,750       5,423,597  

Invesco Ltd.(d)

      168,259       2,577,728  

Jackson Financial, Inc., Class A(c)

      48,493       1,860,191  

Janus Henderson Group PLC

      59,702       1,359,415  

Jefferies Financial Group, Inc.

      78,336       2,695,542  

JPMorgan Chase & Co.

      785,142       98,833,675  

Kemper Corp.(c)

      31,159       1,485,350  

KeyCorp

      261,408       4,671,361  

KKR & Co., Inc., Class A(c)

      63,637       3,094,667  

Lazard Ltd., Class A

      48,143       1,815,473  

Lincoln National Corp.

      100,668       5,422,985  

Loews Corp.

      56,439       3,218,152  

LPL Financial Holdings, Inc.

      8,805       2,250,998  

M&T Bank Corp.

      50,639       8,526,088  

Markel Corp.(b)

      3,642       4,392,616  

Marsh & McLennan Cos., Inc.

      53,753       8,680,572  
     Shares   Value  

Financials-(continued)

     

MetLife, Inc.

      347,695       $ 25,454,751  

MFA Financial, Inc.

      58,130       578,975  

MGIC Investment Corp.

      80,815       1,103,125  

Moody’s Corp.

      8,603       2,278,677  

Morgan Stanley

      275,164            22,610,226  

MSCI, Inc.

      2,413       1,131,359  

Nasdaq, Inc.

      36,324       2,260,806  

Navient Corp.

      119,435       1,808,246  

New York Community Bancorp, Inc.(c)

      228,517       2,127,493  

Northern Trust Corp.

      45,918       3,873,183  

Old National Bancorp

      54,183       1,059,819  

Old Republic International Corp.

      118,258       2,744,768  

OneMain Holdings, Inc.(c)

      48,166       1,857,281  

PacWest Bancorp

      36,827       915,519  

PennyMac Mortgage Investment Trust(c)

      57,186       793,170  

Pinnacle Financial Partners, Inc.

      12,239       1,015,715  

PNC Financial Services Group, Inc. (The)

      102,362       16,565,242  

Popular, Inc.

      23,037       1,629,177  

Primerica, Inc.(c)

      8,214       1,188,566  

Principal Financial Group, Inc.

      104,725       9,229,414  

Progressive Corp. (The)

      126,567       16,251,203  

Prosperity Bancshares, Inc.

      22,185       1,587,780  

Prudential Financial, Inc.

      165,847       17,445,446  

Radian Group, Inc.

      55,987       1,168,449  

Raymond James Financial, Inc.

      27,259       3,220,378  

Regions Financial Corp.

      280,497       6,156,909  

Reinsurance Group of America, Inc.

      36,427       5,360,962  

RenaissanceRe Holdings Ltd. (Bermuda)(c)

      12,458       1,927,003  

Rithm Capital Corp.

      275,738       2,324,471  

S&P Global, Inc.

      19,361       6,219,721  

SEI Investments Co.

      14,551       790,119  

Selective Insurance Group, Inc.(c)

      13,477       1,321,824  

Signature Bank

      5,330       844,965  

Simmons First National Corp., Class A(c)

      31,045       741,044  

SLM Corp.

      62,576       1,038,136  

South State Corp.(c)

      14,074       1,272,712  

Starwood Property Trust, Inc.(c)

      100,722       2,080,917  

State Street Corp.

      98,380       7,280,120  

Stifel Financial Corp.

      17,516       1,083,715  

SVB Financial Group(b)

      5,014       1,158,033  

Synchrony Financial

      259,699       9,234,896  

Synovus Financial Corp.

      34,449       1,372,793  

T. Rowe Price Group, Inc.(c)

      39,736       4,218,374  

Texas Capital Bancshares, Inc.(b)(c)

      16,481       988,860  

Travelers Cos., Inc. (The)

      97,898       18,058,265  

Truist Financial Corp.

      316,605       14,180,738  

Two Harbors Investment Corp.(c)

      151,685       539,999  

U.S. Bancorp

      390,563       16,579,399  

UMB Financial Corp.(c)

      8,919       742,239  

Umpqua Holdings Corp.

      56,746       1,128,110  

United Bankshares, Inc.(c)

      37,781       1,600,025  

Unum Group

      161,052       7,342,361  

Valley National Bancorp(c)

      107,838       1,280,037  

Voya Financial, Inc.(c)

      44,309       3,028,963  

W.R. Berkley Corp.

      43,248       3,216,786  

Washington Federal, Inc.

      21,549       833,946  

Webster Financial Corp.

      22,160       1,202,402  

Wells Fargo & Co.

      1,517,728       69,800,311  

WesBanco, Inc.

      20,857       843,457  

 

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

 

    9    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Financials-(continued)

     

Western Alliance Bancorporation

      10,879       $ 730,742  

White Mountains Insurance Group Ltd.

      751       1,063,529  

Willis Towers Watson PLC

      21,173       4,620,160  

Wintrust Financial Corp.

      12,547       1,174,650  

Zions Bancorporation N.A

      38,224       1,985,355  
    

 

 

  
       1,083,649,459  
    

 

 

  

Health Care-14.01%

     

Abbott Laboratories

      170,469       16,866,203  

AbbVie, Inc.

      241,644       35,376,682  

Acadia Healthcare Co., Inc.(b)

      21,723       1,766,080  

Agilent Technologies, Inc.

      20,023       2,770,182  

Align Technology, Inc.(b)

      2,797       543,457  

AmerisourceBergen Corp.

      76,093       11,963,341  

Amgen, Inc.

      111,351       30,103,743  

Avantor, Inc.(b)

      43,099       869,307  

Baxter International, Inc.

      65,376       3,553,186  

Becton, Dickinson and Co.

      36,343       8,575,858  

Biogen, Inc.(b)

      47,102       13,350,591  

BioMarin Pharmaceutical, Inc.(b)

      11,892       1,030,204  

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

      3,087       1,085,729  

Boston Scientific Corp.(b)

      144,340       6,222,497  

Bristol-Myers Squibb Co.

      332,194       25,735,069  

Brookdale Senior Living, Inc.(b)(c)

      162,399       725,924  

Cardinal Health, Inc.

      267,672       20,316,305  

Catalent, Inc.(b)

      14,453       949,996  

Centene Corp.(b)

      213,375       18,164,614  

Charles River Laboratories International,
Inc.(b)

      4,087       867,466  

Cigna Corp.

      97,528       31,507,396  

Community Health Systems, Inc.(b)(c)

      130,182       373,622  

Cooper Cos., Inc. (The)(c)

      3,355       917,223  

CVS Health Corp.

      512,782       48,560,455  

Danaher Corp.

      40,136       10,101,027  

DaVita, Inc.(b)

      24,023       1,753,919  

DENTSPLY SIRONA, Inc.

      25,906       798,423  

Edwards Lifesciences Corp.(b)(c)

      22,724       1,645,899  

Elanco Animal Health, Inc.(b)

      84,700       1,117,193  

Elevance Health, Inc.

      53,931       29,487,853  

Eli Lilly and Co.

      57,990       20,997,599  

Embecta Corp.(c)

      7,268       224,727  

Encompass Health Corp.

      24,743       1,347,009  

Enhabit, Inc.(b)(c)

      12,369       153,623  

Enovis Corp.(b)(c)

      9,156       452,764  

Envista Holdings Corp.(b)(c)

      31,382       1,035,920  

Gilead Sciences, Inc.

      391,489       30,716,227  

HCA Healthcare, Inc.

      40,896       8,893,653  

Henry Schein, Inc.(b)

      31,893       2,183,395  

Hologic, Inc.(b)

      27,167       1,841,923  

Horizon Therapeutics PLC(b)

      12,761       795,265  

Humana, Inc.

      30,358       16,942,193  

ICON PLC(b)

      4,787       947,060  

IDEXX Laboratories, Inc.(b)

      2,145       771,514  

Illumina, Inc.(b)(c)

      6,645       1,520,509  

Incyte Corp.(b)

      10,677       793,728  

Intuitive Surgical, Inc.(b)

      12,774       3,148,408  

IQVIA Holdings, Inc.(b)

      18,461       3,870,718  

Jazz Pharmaceuticals PLC(b)

      11,967       1,720,735  

Johnson & Johnson

      428,629       74,568,587  

Laboratory Corp. of America Holdings

      20,824       4,620,013  
     Shares   Value  

Health Care-(continued)

     

McKesson Corp.

      73,671       $ 28,685,277  

Medtronic PLC

      261,159       22,809,627  

Merck & Co., Inc.

      460,582       46,610,898  

Mettler-Toledo International, Inc.(b)(c)

      860       1,087,840  

Molina Healthcare, Inc.(b)

      12,299       4,413,619  

Organon & Co.

      140,628       3,681,641  

Owens & Minor, Inc.(c)

      35,251       599,267  

Patterson Cos., Inc.

      36,323       943,308  

Pediatrix Medical Group, Inc.(b)(c)

      31,209       605,455  

PerkinElmer, Inc.

      7,755       1,035,913  

Perrigo Co. PLC(c)

      51,975       2,093,553  

Pfizer, Inc.

      1,108,426       51,597,230  

Premier, Inc., Class A

      27,831       970,745  

Quest Diagnostics, Inc.

      30,146       4,330,473  

Regeneron Pharmaceuticals, Inc.(b)

      8,545       6,398,069  

ResMed, Inc.

      7,665       1,714,584  

Royalty Pharma PLC, Class A

      29,111       1,231,977  

Select Medical Holdings Corp.(c)

      53,292       1,368,539  

STERIS PLC

      6,616       1,141,789  

Stryker Corp.(c)

      30,023       6,882,472  

Syneos Health, Inc.(b)

      18,611       937,622  

Teladoc Health, Inc.(b)(c)

      45,359       1,344,441  

Teleflex, Inc.

      4,244       910,593  

Tenet Healthcare Corp.(b)

      60,287       2,674,331  

Thermo Fisher Scientific, Inc.

      24,683       12,686,321  

United Therapeutics Corp.(b)

      7,523       1,734,277  

UnitedHealth Group, Inc.

      130,403       72,393,225  

Universal Health Services, Inc., Class B

      22,810       2,642,995  

Vertex Pharmaceuticals, Inc.(b)

      13,915       4,341,480  

Viatris, Inc.

      586,318       5,939,401  

Waters Corp.(b)

      3,489       1,043,804  

West Pharmaceutical Services, Inc.

      2,493       573,639  

Zimmer Biomet Holdings, Inc.

      36,574       4,145,663  

Zoetis, Inc.

      19,273       2,905,983  
    

 

 

  
          807,121,065  
    

 

 

  

Industrials-9.87%

     

3M Co.

      153,023       19,248,763  

A.O. Smith Corp.

      16,540       906,061  

ABM Industries, Inc.(c)

      27,367       1,218,105  

Acuity Brands, Inc.(c)

      6,406       1,175,949  

AECOM

      50,198       3,778,905  

AerCap Holdings N.V. (Ireland)(b)

      37,917       2,025,147  

AGCO Corp.

      13,513       1,677,909  

Air Lease Corp.

      37,480       1,322,669  

Allegion PLC

      9,647       1,010,716  

Allison Transmission Holdings, Inc.

      30,968       1,308,398  

AMERCO(c)

      1,769       1,017,511  

American Airlines Group, Inc.(b)(c)

      100,019       1,418,269  

AMETEK, Inc.

      20,354       2,639,100  

Applied Industrial Technologies, Inc.

      7,892       981,607  

ASGN, Inc.(b)(c)

      10,185       863,484  

Atlas Air Worldwide Holdings, Inc.(b)(c)

      14,983       1,515,381  

Avis Budget Group, Inc.(b)(c)

      16,959       4,010,125  

Beacon Roofing Supply, Inc.(b)

      21,946       1,236,657  

Boeing Co. (The)(b)

      105,423       15,023,832  

Boise Cascade Co.(c)

      11,755       784,881  

Booz Allen Hamilton Holding Corp.

      25,096       2,731,700  

Brink’s Co. (The)

      11,139       664,219  

Builders FirstSource, Inc.(b)(c)

      24,820       1,530,401  

 

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

 

    10    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Industrials-(continued)

     

BWX Technologies, Inc.

      17,094       $ 974,016  

C.H. Robinson Worldwide, Inc.(c)

      38,487       3,760,950  

CACI International, Inc., Class A(b)

      6,361       1,933,935  

Carlisle Cos., Inc.

      7,167       1,711,480  

Carrier Global Corp.

      139,521       5,547,355  

Caterpillar, Inc.

      106,615            23,077,883  

Cintas Corp.

      7,289       3,116,412  

Clarivate PLC(b)(c)

      85,056       878,628  

Clean Harbors, Inc.(b)

      11,503       1,408,657  

Copart, Inc.(b)

      9,988       1,148,820  

CoStar Group, Inc.(b)

      23,183       1,917,698  

Crane Holdings Co.

      9,826       985,941  

CSX Corp.

      279,019       8,108,292  

Cummins, Inc.(c)

      38,402       9,389,673  

Curtiss-Wright Corp.

      6,848       1,149,300  

Deere & Co.

      32,372       12,813,485  

Delta Air Lines, Inc.(b)

      59,968       2,034,714  

Donaldson Co., Inc.

      19,878       1,141,991  

Dover Corp.

      18,019       2,354,903  

Dycom Industries, Inc.(b)

      10,001       1,181,918  

Eaton Corp. PLC

      71,516       10,732,406  

EMCOR Group, Inc.

      13,879       1,958,327  

Emerson Electric Co.

      104,589       9,057,407  

EnerSys(c)

      11,798       782,089  

Equifax, Inc.(c)

      9,728       1,649,285  

Esab Corp.

      9,155       341,482  

Expeditors International of Washington, Inc.

      22,750       2,226,088  

Fastenal Co.

      67,234       3,249,419  

FedEx Corp.

      79,375       12,722,225  

Flowserve Corp.(c)

      40,968       1,174,962  

Fluor Corp.(b)(c)

      121,726       3,683,429  

Fortive Corp.

      37,734       2,411,203  

Fortune Brands Home & Security, Inc.

      22,729       1,371,013  

FTI Consulting, Inc.(b)(c)

      5,789       900,942  

GATX Corp.(c)

      10,596       1,109,507  

Generac Holdings, Inc.(b)

      3,229       374,273  

General Dynamics Corp.

      56,420       14,093,716  

General Electric Co.

      363,236       28,263,393  

GEO Group, Inc. (The)(b)(c)

      176,264       1,491,193  

GMS, Inc.(b)(c)

      15,125       713,900  

Graco, Inc.

      13,576       944,618  

Greenbrier Cos., Inc. (The)

      18,643       658,284  

GXO Logistics, Inc.(b)(c)

      19,465       711,251  

HEICO Corp.(c)

      2,069       336,502  

HEICO Corp., Class A

      3,753       477,757  

Herc Holdings, Inc.(c)

      5,318       625,450  

Hexcel Corp.

      16,080       895,656  

Honeywell International, Inc.

      109,225       22,284,085  

Howmet Aerospace, Inc.

      66,098       2,349,784  

Hub Group, Inc., Class A(b)(c)

      11,324       878,742  

Hubbell, Inc.

      10,271       2,439,157  

Huntington Ingalls Industries, Inc.

      12,652       3,252,450  

IDEX Corp.

      7,913       1,759,139  

Illinois Tool Works, Inc.

      39,688       8,474,579  

Ingersoll Rand, Inc.(c)

      47,326       2,389,963  

ITT, Inc.

      12,420       948,764  

J.B. Hunt Transport Services, Inc.

      10,726       1,834,897  

Jacobs Solutions, Inc.

      22,451       2,586,804  

JELD-WEN Holding, Inc.(b)

      47,125       499,996  
     Shares   Value  

Industrials-(continued)

     

Johnson Controls International PLC

      145,906       $ 8,439,203  

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

      66,649       968,410  

KBR, Inc.(c)

      27,123              1,349,912  

Kennametal, Inc.(c)

      24,058       642,589  

Kirby Corp.(b)

      18,049       1,258,918  

Knight-Swift Transportation Holdings, Inc.(c)

      34,231       1,644,115  

L3Harris Technologies, Inc.

      30,494       7,515,856  

Landstar System, Inc.

      6,574       1,026,990  

Leidos Holdings, Inc.

      43,100       4,378,529  

Lennox International, Inc.(c)

      4,185       977,490  

Lincoln Electric Holdings, Inc.(c)

      8,146       1,156,732  

Lockheed Martin Corp.(c)

      50,327       24,493,144  

ManpowerGroup, Inc.

      30,596       2,396,891  

Masco Corp.

      37,502       1,735,218  

MasTec, Inc.(b)(c)

      16,142       1,244,225  

MDU Resources Group, Inc.

      72,794       2,073,173  

Middleby Corp. (The)(b)(c)

      6,951       972,167  

MSC Industrial Direct Co., Inc., Class A

      15,331       1,272,166  

Mueller Industries, Inc.(c)

      15,514       971,797  

Nordson Corp.

      4,803       1,080,675  

Norfolk Southern Corp.

      35,211       8,030,573  

Northrop Grumman Corp.

      26,577       14,591,039  

nVent Electric PLC

      34,863       1,272,500  

Old Dominion Freight Line, Inc.

      5,315       1,459,499  

Oshkosh Corp.

      17,554       1,544,752  

Otis Worldwide Corp.

      49,442       3,492,583  

Owens Corning

      23,974       2,052,414  

PACCAR, Inc.

      89,828       8,698,045  

Parker-Hannifin Corp.

      17,413       5,060,566  

Pentair PLC

      27,085       1,163,301  

Pitney Bowes, Inc.(c)

      208,887       649,639  

Quanta Services, Inc.(c)

      23,112       3,282,829  

Raytheon Technologies Corp.

      260,870       24,735,693  

Regal Rexnord Corp.

      8,017       1,014,471  

Republic Services, Inc.

      33,605       4,456,695  

Resideo Technologies, Inc.(b)(c)

      53,475       1,263,080  

Robert Half International, Inc.(c)

      13,788       1,054,230  

Rockwell Automation, Inc.

      12,461       3,181,293  

Rush Enterprises, Inc., Class A

      15,294       763,018  

Ryder System, Inc.(c)

      36,980       2,977,260  

Science Applications International Corp.

      16,321       1,768,217  

Sensata Technologies Holding PLC

      30,415       1,222,987  

Snap-on, Inc.

      10,919       2,424,564  

Southwest Airlines Co.(b)

      35,964       1,307,291  

Spirit AeroSystems Holdings, Inc., Class A(c)

      27,732       642,273  

Stanley Black & Decker, Inc.(c)

      34,626       2,717,795  

Stericycle, Inc.(b)(c)

      21,124       941,708  

Sunrun, Inc.(b)(c)

      57,509       1,294,528  

Terex Corp.

      20,326       824,016  

Textron, Inc.

      49,907       3,415,635  

Timken Co. (The)

      16,653       1,187,192  

Toro Co. (The)(c)

      11,098       1,170,062  

Trane Technologies PLC

      30,560       4,878,293  

TransDigm Group, Inc.

      8,835       5,086,840  

TransUnion

      13,315       789,180  

Trinity Industries, Inc.(c)

      29,254       834,617  

Triton International Ltd. (Bermuda)(c)

      20,753       1,259,500  

Uber Technologies, Inc.(b)(c)

      90,417       2,402,380  

 

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

 

    11    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Industrials-(continued)

     

UFP Industries, Inc.

      11,352       $ 808,603  

Union Pacific Corp.

      80,541       15,877,853  

United Airlines Holdings, Inc.(b)

      54,218       2,335,711  

United Parcel Service, Inc., Class B

      104,752       17,574,243  

United Rentals, Inc.(b)

      16,893       5,333,289  

Univar Solutions, Inc.(b)

      70,480       1,795,830  

Valmont Industries, Inc.

      3,750       1,197,075  

Verisk Analytics, Inc.

      8,604       1,573,069  

Veritiv Corp.(b)(c)

      7,697       894,853  

W.W. Grainger, Inc.

      6,776       3,959,556  

Wabtec Corp.

      28,169       2,627,604  

Waste Management, Inc.

      59,630       9,443,603  

Watsco, Inc.(c)

      5,307       1,437,985  

Werner Enterprises, Inc.

      21,023       824,102  

WESCO International, Inc.(b)

      17,363       2,392,101  

Woodward, Inc.(c)

      7,104       651,437  

XPO Logistics, Inc.(b)(c)

      28,947       1,497,718  

Xylem, Inc.

      22,036       2,257,148  
    

 

 

  
          568,370,515  
    

 

 

  

Information Technology-11.98%

     

Accenture PLC, Class A

      55,208       15,673,551  

Adobe, Inc.(b)

      16,024       5,103,644  

Advanced Micro Devices, Inc.(b)

      23,709       1,423,963  

Akamai Technologies, Inc.(b)

      20,071       1,772,871  

Amdocs Ltd.

      24,499       2,114,509  

Amkor Technology, Inc.(c)

      34,070       708,315  

Amphenol Corp., Class A

      48,441       3,673,281  

Analog Devices, Inc.

      38,796       5,533,086  

ANSYS, Inc.(b)

      4,829       1,067,982  

Apple, Inc.

      774,734       118,797,712  

Applied Materials, Inc.

      61,950       5,469,565  

Arista Networks, Inc.(b)

      8,957       1,082,543  

Arrow Electronics, Inc.(b)

      36,429       3,688,801  

Automatic Data Processing, Inc.

      42,978       10,387,783  

Avnet, Inc.

      54,241       2,179,946  

Black Knight, Inc.(b)

      19,591       1,184,668  

Block, Inc., Class A(b)

      11,437       687,021  

Broadcom, Inc.

      35,542       16,709,005  

Broadridge Financial Solutions, Inc.

      13,185       1,978,541  

Cadence Design Systems, Inc.(b)

      9,745       1,475,296  

CDW Corp.

      19,069       3,295,314  

Check Point Software Technologies Ltd. (Israel)(b)

      10,974       1,418,170  

Ciena Corp.(b)(c)

      19,396       929,068  

Cirrus Logic, Inc.(b)(c)

      8,610       577,903  

Cisco Systems, Inc.

      730,665       33,194,111  

Cognex Corp.

      11,292       522,029  

Cognizant Technology Solutions Corp., Class A

      75,679       4,711,018  

Coherent Corp.(b)(c)

      11,023       370,483  

CommScope Holding Co., Inc.(b)

      161,082       2,132,726  

Concentrix Corp.

      5,820       711,379  

Conduent, Inc.(b)(c)

      155,474       640,553  

Corning, Inc.

      144,109       4,635,987  

Dell Technologies, Inc., Class C

      61,021       2,343,206  

DXC Technology Co.(b)

      104,833       3,013,949  

Entegris, Inc.

      5,710       453,031  

EPAM Systems, Inc.(b)

      2,098       734,300  

Euronet Worldwide, Inc.(b)

      7,158       601,344  
     Shares   Value  

Information Technology-(continued)

     

F5, Inc.(b)

      6,541       $ 934,774  

Fidelity National Information Services, Inc.

      131,158            10,884,802  

First Solar, Inc.(b)

      23,418       3,408,958  

Fiserv, Inc.(b)

      97,830       10,051,054  

FleetCor Technologies, Inc.(b)

      8,602       1,601,004  

Flex Ltd.(b)(c)

      325,402       6,371,371  

Gartner, Inc.(b)

      4,236       1,278,933  

Genpact Ltd.(c)

      25,592       1,241,212  

Global Payments, Inc.(c)

      41,109       4,697,114  

Hewlett Packard Enterprise Co.

      578,457       8,254,581  

HP, Inc.

      346,680       9,575,302  

Insight Enterprises, Inc.(b)(c)

      15,567       1,471,237  

Intel Corp.

      1,320,200       37,533,286  

International Business Machines Corp.

      327,582       45,301,315  

Intuit, Inc.

      8,191       3,501,652  

IPG Photonics Corp.(b)(c)

      5,396       462,221  

Jabil, Inc.

      64,378       4,136,286  

Jack Henry & Associates, Inc.

      6,568       1,307,426  

Juniper Networks, Inc.

      75,068       2,297,081  

Keysight Technologies, Inc.(b)

      11,009       1,917,217  

KLA Corp.

      9,460       2,993,617  

Kyndryl Holdings, Inc.(b)

      191,217       1,849,068  

Lam Research Corp.

      9,064       3,668,926  

Marvell Technology, Inc.

      33,537       1,330,748  

Mastercard, Inc., Class A

      27,896       9,154,909  

Maximus, Inc.

      11,317       697,919  

Microchip Technology, Inc.

      49,486       3,055,266  

Micron Technology, Inc.

      230,706       12,481,195  

Microsoft Corp.

      382,493       88,788,100  

MKS Instruments, Inc.

      6,710       551,227  

Motorola Solutions, Inc.

      14,402       3,596,323  

National Instruments Corp.

      22,820       871,268  

NCR Corp.(b)(c)

      45,079       958,380  

NetApp, Inc.

      30,635       2,122,086  

NortonLifeLock, Inc.

      126,711       2,854,799  

NVIDIA Corp.

      30,592       4,129,002  

NXP Semiconductors N.V. (China)

      28,107       4,105,871  

ON Semiconductor Corp.(b)

      40,305       2,475,936  

Oracle Corp.

      221,617       17,301,639  

Paychex, Inc.

      36,495       4,317,723  

PayPal Holdings, Inc.(b)

      89,636       7,491,777  

Paysafe Ltd.(b)(c)

      263,239       384,329  

Qorvo, Inc.(b)

      17,056       1,468,180  

QUALCOMM, Inc.

      113,432       13,346,409  

Roper Technologies, Inc.

      8,857       3,671,581  

Sabre Corp.(b)(c)

      105,989       615,796  

salesforce.com, inc.(b)

      57,985       9,427,781  

Sanmina Corp.(b)

      34,005       1,905,980  

Seagate Technology Holdings PLC(c)

      41,806       2,076,086  

ServiceNow, Inc.(b)

      2,042       859,151  

Skyworks Solutions, Inc.

      20,968       1,803,458  

SS&C Technologies Holdings, Inc.

      26,575       1,366,487  

Synopsys, Inc.(b)

      7,035       2,058,089  

TD SYNNEX Corp.

      7,773       711,307  

TE Connectivity Ltd. (Switzerland)

      44,968       5,496,439  

Teledyne Technologies, Inc.(b)

      3,616       1,439,096  

Teradyne, Inc.

      10,562       859,219  

Texas Instruments, Inc.

      100,643       16,166,285  

Trimble, Inc.(b)

      23,348       1,404,616  

 

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

 

    12    

 

  

 

 

 

Invesco FTSE RAFI US 1000 ETF (PRF)–(continued)

October 31, 2022

(Unaudited)

 

     Shares   Value  

Information Technology-(continued)

     

TTM Technologies, Inc.(b)(c)

      77,549