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Invesco Semi-Annual Report to Shareholders

  

October 31, 2022

 

   RSP   Invesco S&P 500® Equal Weight ETF
   EWCO   Invesco S&P 500® Equal Weight Communication Services ETF
   RCD   Invesco S&P 500® Equal Weight Consumer Discretionary ETF
   RHS   Invesco S&P 500® Equal Weight Consumer Staples ETF
   RYE   Invesco S&P 500® Equal Weight Energy ETF
   RYF   Invesco S&P 500® Equal Weight Financials ETF
   RYH   Invesco S&P 500® Equal Weight Health Care ETF
   RGI   Invesco S&P 500® Equal Weight Industrials ETF
   RTM   Invesco S&P 500® Equal Weight Materials ETF
   EWRE   Invesco S&P 500® Equal Weight Real Estate ETF
   RYT   Invesco S&P 500® Equal Weight Technology ETF
   RYU   Invesco S&P 500® Equal Weight Utilities ETF
   EWMC   Invesco S&P MidCap 400® Equal Weight ETF
   EWSC   Invesco S&P SmallCap 600® Equal Weight ETF


 

 

Table of Contents

 

Schedules of Investments

  

Invesco S&P 500® Equal Weight ETF (RSP)

     3  

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)

     10  

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)

     12  

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)

     14  

Invesco S&P 500® Equal Weight Energy ETF (RYE)

     16  

Invesco S&P 500® Equal Weight Financials ETF (RYF)

     18  

Invesco S&P 500® Equal Weight Health Care ETF (RYH)

     20  

Invesco S&P 500® Equal Weight Industrials ETF (RGI)

     22  

Invesco S&P 500® Equal Weight Materials ETF (RTM)

     25  

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)

     27  

Invesco S&P 500® Equal Weight Technology ETF (RYT)

     29  

Invesco S&P 500® Equal Weight Utilities ETF (RYU)

     32  

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)

     34  

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)

     39  

Statements of Assets and Liabilities

     46  

Statements of Operations

     50  

Statements of Changes in Net Assets

     54  

Financial Highlights

     60  

Notes to Financial Statements

     74  

Fund Expenses

     86  

 

 

   
   

 

  2   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)

October 31, 2022

(Unaudited)

 

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.93%

 

Communication Services-4.15%

     

Activision Blizzard, Inc.

     819,553      $ 59,663,458  

Alphabet, Inc., Class A(b)

     305,040        28,829,330  

Alphabet, Inc., Class C(b)

     272,595        25,803,843  

AT&T, Inc.

     3,778,440        68,880,961  

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

     158,178        58,149,396  

Comcast Corp., Class A

     1,819,699        57,757,246  

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

     3,322,629        49,540,398  

Electronic Arts, Inc.

     499,277        62,888,931  

Fox Corp., Class A

     1,305,429        37,687,735  

Fox Corp., Class B

     599,410        16,303,952  

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

     2,253,819        67,141,268  

Live Nation Entertainment, Inc.(b)(c)

     692,238        55,109,067  

Lumen Technologies, Inc.(c)

     6,442,029        47,413,334  

Match Group, Inc.(b)(c)

     1,036,088        44,759,002  

Meta Platforms, Inc., Class A(b)

     379,652        35,368,380  

Netflix, Inc.(b)

     275,270        80,345,808  

News Corp., Class A

     2,797,290        47,190,282  

News Corp., Class B(c)

     866,548        14,843,967  

Omnicom Group, Inc.

     913,714        66,472,694  

Paramount Global, Class B(c)

     2,725,696        49,934,751  

Take-Two Interactive Software, Inc.(b)

     503,672        59,675,059  

T-Mobile US, Inc.(b)(c)

     441,643        66,935,413  

Verizon Communications, Inc.

     1,523,383        56,928,823  

Walt Disney Co. (The)(b)

     559,684        59,628,733  

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

     4,938,105        64,195,365  
     

 

 

 
        1,281,447,196  
     

 

 

 

Consumer Discretionary-11.10%

 

Advance Auto Parts, Inc.(c)

     356,138        67,637,729  

Amazon.com, Inc.(b)

     482,899        49,468,174  

Aptiv PLC(b)

     665,101        60,570,748  

AutoZone, Inc.(b)

     29,095        73,694,144  

Bath & Body Works, Inc.

     1,622,653        54,164,157  

Best Buy Co., Inc.(c)

     845,526        57,842,434  

Booking Holdings, Inc.(b)

     32,259        60,307,555  

BorgWarner, Inc.

     1,668,068        62,602,592  

Caesars Entertainment, Inc.(b)(c)

     1,328,916        58,113,497  

CarMax, Inc.(b)(c)

     705,833        44,474,537  

Carnival Corp.(b)(c)

     6,175,687        55,951,724  

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

     37,511        56,203,857  

D.R. Horton, Inc.(c)

     877,629        67,472,118  

Darden Restaurants, Inc.(c)

     490,940        70,273,152  

Dollar General Corp.

     260,676        66,485,414  

Dollar Tree, Inc.(b)(c)

     445,383        70,593,205  

Domino’s Pizza, Inc.

     175,306        58,243,665  

eBay, Inc.

     1,430,016        56,971,837  

Etsy, Inc.(b)(c)

     582,567        54,708,867  

Expedia Group, Inc.(b)

     589,570        55,107,108  

Ford Motor Co.

     4,165,125        55,687,721  

Garmin Ltd.

     708,323        62,360,757  

General Motors Co.

     1,555,418        61,050,157  

Genuine Parts Co.

     395,302        70,308,414  

Hasbro, Inc.

     790,129        51,555,917  

Hilton Worldwide Holdings, Inc.

     473,248        64,011,524  

Home Depot, Inc. (The)

     215,084        63,692,825  

Las Vegas Sands Corp.(b)(c)

     1,685,650        64,071,556  

 

         Shares                Value        

Consumer Discretionary-(continued)

 

Lennar Corp., Class A(c)

     805,917      $ 65,037,502  

LKQ Corp.

     1,199,244        66,725,936  

Lowe’s Cos., Inc.

     312,818        60,983,869  

Marriott International, Inc., Class A

     396,350        63,459,598  

McDonald’s Corp.

     248,272        67,693,844  

MGM Resorts International

     1,835,298        65,281,550  

Mohawk Industries, Inc.(b)(c)

     566,262        53,653,325  

Newell Brands, Inc.(c)

     3,551,058        49,040,111  

NIKE, Inc., Class B

     578,728        53,636,511  

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

     4,407,080        74,435,581  

NVR, Inc.(b)

     14,826        62,828,881  

O’Reilly Automotive, Inc.(b)

     89,225        74,696,493  

Pool Corp.(c)

     180,683        54,969,189  

PulteGroup, Inc.(c)

     1,540,647        61,610,474  

Ralph Lauren Corp.(c)

     666,449        61,773,158  

Ross Stores, Inc.

     688,057        65,840,174  

Royal Caribbean Cruises Ltd.(b)(c)

     1,362,305        72,719,841  

Starbucks Corp.

     725,600        62,829,704  

Tapestry, Inc.(c)

     1,811,565        57,390,379  

Target Corp.

     370,662        60,881,234  

Tesla, Inc.(b)

     215,171        48,960,009  

TJX Cos., Inc. (The)

     966,010        69,649,321  

Tractor Supply Co.

     320,026        70,332,114  

Ulta Beauty, Inc.(b)(c)

     145,665        61,087,531  

VF Corp.(c)

     1,481,282        41,846,217  

Whirlpool Corp.(c)

     401,555        55,510,963  

Wynn Resorts Ltd.(b)(c)

     1,024,770        65,482,803  

Yum! Brands, Inc.

     554,241        65,538,998  
     

 

 

 
        3,427,520,695  
     

 

 

 

Consumer Staples-6.86%

 

Altria Group, Inc.

     1,412,083        65,337,080  

Archer-Daniels-Midland Co.

     703,549        68,230,182  

Brown-Forman Corp., Class B

     875,893        59,560,724  

Campbell Soup Co.

     1,342,625        71,038,289  

Church & Dwight Co., Inc.

     789,087        58,495,019  

Clorox Co. (The)

     434,468        63,449,707  

Coca-Cola Co. (The)

     1,032,647        61,803,923  

Colgate-Palmolive Co.

     824,487        60,880,120  

Conagra Brands, Inc.

     1,872,317        68,714,034  

Constellation Brands, Inc.,Class A

     261,291        64,559,780  

Costco Wholesale Corp.

     119,555        59,956,832  

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

     253,797        50,883,761  

General Mills, Inc.

     847,497        69,138,805  

Hershey Co. (The)

     284,838        68,010,769  

Hormel Foods Corp.

     1,373,097        63,780,356  

JM Smucker Co. (The)

     462,123        69,623,451  

Kellogg Co.

     892,763        68,582,054  

Keurig Dr Pepper, Inc.

     1,663,004        64,591,075  

Kimberly-Clark Corp.

     507,324        63,141,545  

Kraft Heinz Co. (The)

     1,764,914        67,896,242  

Kroger Co. (The)

     1,242,248        58,745,908  

Lamb Weston Holdings, Inc.

     810,639        69,893,295  

McCormick & Co., Inc.

     805,226        63,322,973  

Molson Coors Beverage Co., Class B(c)

     1,233,487        62,204,749  

Mondelez International, Inc., Class A

     1,048,957        64,489,876  

Monster Beverage Corp.(b)

     695,926        65,222,185  

 

 

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

   
   

 

  3   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Consumer Staples-(continued)

 

PepsiCo, Inc.

     371,562      $ 67,468,228  

Philip Morris International, Inc.

     662,955        60,892,417  

Procter & Gamble Co. (The)

     459,841        61,926,787  

Sysco Corp.

     767,170        66,406,235  

Tyson Foods, Inc., Class A

     853,496        58,336,452  

Walgreens Boots Alliance, Inc.

     1,775,398        64,802,027  

Walmart, Inc.

     470,099        66,909,191  
     

 

 

 
         2,118,294,071  
     

 

 

 

Energy-5.30%

 

APA Corp.

     1,689,115        76,787,168  

Baker Hughes Co., Class A

     2,548,221        70,483,793  

Chevron Corp.

     402,145        72,748,030  

ConocoPhillips(c)

     574,673        72,460,519  

Coterra Energy, Inc.(c)

     2,161,558        67,289,300  

Devon Energy Corp.

     938,989        72,630,799  

Diamondback Energy, Inc.(c)

     476,792        74,908,791  

EOG Resources, Inc.

     521,802        71,236,409  

EQT Corp.

     1,275,527        53,368,050  

Exxon Mobil Corp.

     666,720        73,879,243  

Halliburton Co.

     2,169,385        79,009,002  

Hess Corp.(c)

     525,512        74,139,233  

Kinder Morgan, Inc.

     3,514,263        63,678,445  

Marathon Oil Corp.

     2,441,750        74,351,287  

Marathon Petroleum Corp.

     643,345        73,096,859  

Occidental Petroleum Corp.

     980,561        71,188,729  

ONEOK, Inc.

     1,032,051        61,221,265  

Phillips 66

     730,923        76,227,960  

Pioneer Natural Resources Co.(c)

     268,463        68,836,598  

Schlumberger Ltd.(c)

     1,622,653        84,426,636  

Targa Resources Corp.

     1,021,761        69,857,800  

Valero Energy Corp.

     568,759        71,407,692  

Williams Cos., Inc. (The)

     1,963,645        64,270,101  
     

 

 

 
        1,637,503,709  
     

 

 

 

Financials-13.68%

 

Aflac, Inc.

     1,039,831        67,703,396  

Allstate Corp. (The)(c)

     508,895        64,247,994  

American Express Co.

     406,726        60,378,475  

American International Group, Inc.

     1,169,130        66,640,410  

Ameriprise Financial, Inc.

     224,433        69,376,729  

Aon PLC, Class A

     220,311        62,015,343  

Arch Capital Group Ltd.(b)

     1,422,108        81,771,210  

Arthur J. Gallagher & Co.

     341,864        63,955,917  

Assurant, Inc.

     393,176        53,416,891  

Bank of America Corp.

     1,841,466        66,366,435  

Bank of New York Mellon Corp. (The)

     1,457,795        61,387,747  

Berkshire Hathaway, Inc., Class B(b)

     225,079        66,418,562  

BlackRock, Inc.

     92,292        59,612,326  

Brown & Brown, Inc.

     983,495        57,819,671  

Capital One Financial Corp.

     594,096        62,986,058  

Cboe Global Markets, Inc.

     518,817        64,592,716  

Charles Schwab Corp. (The)

     863,216        68,772,419  

Chubb Ltd.

     330,014        70,916,708  

Cincinnati Financial Corp.(c)

     639,093        66,031,089  

Citigroup, Inc.

     1,272,960        58,377,946  

Citizens Financial Group, Inc.

     1,679,192        68,678,953  

CME Group, Inc., Class A

     318,886        55,262,944  

Comerica, Inc.

     762,177        53,733,479  

Discover Financial Services

     627,457        65,544,158  

Everest Re Group Ltd.

     227,480        73,398,697  
     Shares      Value  

Financials-(continued)

 

FactSet Research Systems, Inc.

     141,523      $ 60,216,621  

Fifth Third Bancorp

     1,800,180        64,248,424  

First Republic Bank

     412,842        49,582,324  

Franklin Resources, Inc.(c)

     2,439,032        57,195,300  

Globe Life, Inc.(c)

     626,082        72,324,993  

Goldman Sachs Group, Inc. (The)

     189,371        65,240,203  

Hartford Financial Services Group, Inc. (The)

     959,896        69,506,069  

Huntington Bancshares, Inc.(c)

     4,550,716        69,079,869  

Intercontinental Exchange, Inc.

     622,230        59,466,521  

Invesco Ltd.(d)

     3,668,141        56,195,920  

JPMorgan Chase & Co.

     540,199        68,000,250  

KeyCorp

     3,448,339        61,621,818  

Lincoln National Corp.

     1,266,267        68,213,803  

Loews Corp.

     1,131,564        64,521,779  

M&T Bank Corp.(c)

     343,345        57,808,998  

MarketAxess Holdings, Inc.

     241,991        59,055,484  

Marsh & McLennan Cos., Inc.

     385,644        62,277,650  

MetLife, Inc.

     951,284        69,643,502  

Moody’s Corp.(c)

     214,949        56,933,542  

Morgan Stanley

     717,953        58,994,198  

MSCI, Inc.

     131,017        61,428,631  

Nasdaq, Inc.

     1,017,160        63,308,038  

Northern Trust Corp.

     649,127        54,753,862  

PNC Financial Services Group, Inc. (The)

     391,678        63,385,251  

Principal Financial Group, Inc.(c)

     821,807        72,425,851  

Progressive Corp. (The)

     500,226        64,229,018  

Prudential Financial, Inc.

     653,617        68,753,972  

Raymond James Financial, Inc.(c)

     593,560        70,123,178  

Regions Financial Corp.

     2,897,132        63,592,047  

S&P Global, Inc.

     174,238        55,973,958  

Signature Bank

     350,238        55,523,230  

State Street Corp.

     881,511        65,231,814  

SVB Financial Group(b)

     152,185        35,148,648  

Synchrony Financial

     1,925,326        68,464,593  

T. Rowe Price Group, Inc.(c)

     516,223        54,802,234  

Travelers Cos., Inc. (The)

     392,121        72,330,640  

Truist Financial Corp.

     1,327,248        59,447,438  

U.S. Bancorp

     1,352,290        57,404,710  

W.R. Berkley Corp.

     951,422        70,766,768  

Wells Fargo & Co.

     1,419,399        65,278,160  

Willis Towers Watson PLC

     301,546        65,800,353  

Zions Bancorporation N.A.

     1,096,943        56,975,219  
     

 

 

 
         4,224,681,154  
     

 

 

 

Health Care-13.12%

 

Abbott Laboratories

     593,238        58,694,968  

AbbVie, Inc.

     455,815        66,731,316  

ABIOMED, Inc.(b)

     227,432        57,331,059  

Agilent Technologies, Inc.

     467,458        64,672,814  

Align Technology, Inc.(b)

     244,098        47,428,241  

AmerisourceBergen Corp.

     437,036        68,710,800  

Amgen, Inc.(c)

     259,902        70,264,506  

Baxter International, Inc.

     1,080,948        58,749,524  

Becton, Dickinson and Co.

     244,766        57,757,433  

Biogen, Inc.(b)

     304,043        86,177,948  

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

     126,457        44,476,191  

Bio-Techne Corp.(c)

     185,082        54,832,393  

Boston Scientific Corp.(b)(c)

     1,498,608        64,604,991  

 

 

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

   
   

 

  4   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Health Care-(continued)

     

Bristol-Myers Squibb Co.

     916,900      $ 71,032,243  

Cardinal Health, Inc.(c)

     920,841        69,891,832  

Catalent, Inc.(b)(c)

     669,160        43,983,887  

Centene Corp.(b)

     699,657        59,561,800  

Charles River Laboratories International, Inc.(b)(c)

     294,680        62,545,830  

Cigna Corp.

     219,759        70,995,343  

Cooper Cos., Inc. (The)

     204,013        55,775,114  

CVS Health Corp.

     629,682        59,630,885  

Danaher Corp.

     221,551        55,757,740  

DaVita, Inc.(b)(c)

     694,528        50,707,489  

DENTSPLY SIRONA, Inc.

     1,898,890        58,523,790  

DexCom, Inc.(b)(c)

     692,552        83,646,431  

Edwards Lifesciences Corp.(b)

     661,687        47,925,989  

Elevance Health, Inc.

     130,591        71,403,241  

Eli Lilly and Co.

     202,460        73,308,741  

Gilead Sciences, Inc.

     985,902        77,353,871  

HCA Healthcare, Inc.

     292,763        63,667,170  

Henry Schein, Inc.(b)

     865,945        59,282,595  

Hologic, Inc.(b)

     930,351        63,077,798  

Humana, Inc.

     134,435        75,025,485  

IDEXX Laboratories, Inc.(b)

     172,092        61,898,051  

Illumina, Inc.(b)

     305,976        70,013,428  

Incyte Corp.(b)

     891,068        66,241,995  

Intuitive Surgical, Inc.(b)

     290,665        71,640,203  

IQVIA Holdings, Inc.(b)(c)

     288,947        60,583,517  

Johnson & Johnson

     388,976        67,670,155  

Laboratory Corp. of America Holdings

     270,416        59,994,494  

McKesson Corp.

     175,732        68,424,769  

Medtronic PLC(c)

     716,898        62,613,871  

Merck & Co., Inc.

     736,574        74,541,289  

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

     49,289        62,347,135  

Moderna, Inc.(b)

     451,276        67,840,321  

Molina Healthcare, Inc.(b)

     184,890        66,349,625  

Organon & Co.

     2,162,075        56,603,124  

PerkinElmer, Inc.(c)

     453,347        60,558,092  

Pfizer, Inc.(c)

     1,345,097        62,614,265  

Quest Diagnostics, Inc.

     494,784        71,075,722  

Regeneron Pharmaceuticals, Inc.(b)

     88,827        66,509,216  

ResMed, Inc.

     272,460        60,946,577  

STERIS PLC(c)

     306,964        52,975,847  

Stryker Corp.(c)

     279,928        64,170,695  

Teleflex, Inc.

     266,300        57,137,328  

Thermo Fisher Scientific, Inc.

     112,954        58,054,967  

UnitedHealth Group, Inc.

     123,044        68,307,877  

Universal Health Services, Inc., Class B

     624,535        72,364,870  

Vertex Pharmaceuticals, Inc.(b)

     220,581        68,821,272  

Viatris, Inc.

     6,512,454        65,971,159  

Waters Corp.(b)

     205,570        61,500,377  

West Pharmaceutical Services, Inc.

     204,776        47,118,958  

Zimmer Biomet Holdings, Inc.

     561,774        63,677,083  

Zoetis, Inc.

     391,748        59,067,763  
     

 

 

 
         4,051,163,503  
     

 

 

 

Industrials-14.58%

     

3M Co.

     522,880        65,773,075  

A.O. Smith Corp.

     1,143,251        62,627,290  

Alaska Air Group, Inc.(b)(c)

     1,381,755        61,432,827  

Allegion PLC(c)

     645,747        67,654,913  
         Shares                Value        

Industrials-(continued)

     

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

     4,534,535      $ 64,299,706  

AMETEK, Inc.

     511,508         66,322,127  

Boeing Co. (The)(b)

     407,593        58,086,078  

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

     561,831        54,902,125  

Carrier Global Corp.

     1,525,858        60,668,114  

Caterpillar, Inc.

     339,403        73,467,173  

Cintas Corp.

     149,504        63,920,435  

Copart, Inc.(b)

     554,148        63,738,103  

CoStar Group, Inc.(b)(c)

     820,474        67,869,609  

CSX Corp.

     1,975,911        57,419,974  

Cummins, Inc.(c)

     294,377        71,978,120  

Deere & Co.

     172,942        68,453,902  

Delta Air Lines, Inc.(b)

     1,970,116        66,846,036  

Dover Corp.

     496,767        64,922,479  

Eaton Corp. PLC

     441,614        66,273,013  

Emerson Electric Co.

     759,431        65,766,725  

Equifax, Inc.(c)

     326,476        55,350,741  

Expeditors International of Washington, Inc.(c)

     621,994        60,862,113  

Fastenal Co.(c)

     1,256,827        60,742,449  

FedEx Corp.

     307,246        49,245,389  

Fortive Corp.

     974,600        62,276,940  

Fortune Brands Home & Security, Inc.

     994,683        59,999,279  

Generac Holdings, Inc.(b)(c)

     269,795        31,271,939  

General Dynamics Corp.

     278,407        69,546,069  

General Electric Co.

     868,921        67,610,743  

Honeywell International, Inc.

     335,590        68,467,072  

Howmet Aerospace, Inc.

     1,767,286        62,827,017  

Huntington Ingalls Industries, Inc.

     273,288        70,254,146  

IDEX Corp.

     306,418        68,119,786  

Illinois Tool Works, Inc.

     311,542        66,523,563  

Ingersoll Rand, Inc.(c)

     1,281,050        64,693,025  

J.B. Hunt Transport Services, Inc.

     369,808        63,263,055  

Jacobs Solutions, Inc.

     514,471        59,277,349  

Johnson Controls International PLC(c)

     1,106,524        64,001,348  

L3Harris Technologies, Inc.

     272,336        67,122,654  

Leidos Holdings, Inc.

     672,243        68,293,166  

Lockheed Martin Corp.(c)

     152,693        74,312,629  

Masco Corp.

     1,230,947        56,955,918  

Nordson Corp.(c)

     274,013        61,652,925  

Norfolk Southern Corp.

     257,704        58,774,551  

Northrop Grumman Corp.

     131,159        72,007,603  

Old Dominion Freight Line, Inc.(c)

     239,810        65,851,826  

Otis Worldwide Corp.

     876,810        61,937,858  

PACCAR, Inc.

     727,285        70,423,007  

Parker-Hannifin Corp.

     230,073        66,863,815  

Pentair PLC(c)

     1,365,682        58,656,042  

Quanta Services, Inc.(c)

     438,522        62,287,665  

Raytheon Technologies Corp.

     730,842        69,298,438  

Republic Services, Inc.

     435,762        57,790,756  

Robert Half International, Inc.(c)

     799,545        61,133,211  

Rockwell Automation, Inc.

     251,370        64,174,761  

Rollins, Inc.

     1,781,171        74,951,676  

Snap-on, Inc.(c)

     287,978        63,945,515  

Southwest Airlines Co.(b)(c)

     1,677,051        60,960,804  

Stanley Black & Decker, Inc.(c)

     718,702        56,410,920  

Textron, Inc.

     976,482        66,830,428  

Trane Technologies PLC(c)

     392,870        62,713,838  

TransDigm Group, Inc.

     104,094        59,933,161  

Union Pacific Corp.

     277,708        54,747,355  

 

 

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

   
   

 

  5   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

     Shares      Value  

Industrials-(continued)

     

United Airlines Holdings, Inc.(b)(c)

     1,638,902      $ 70,603,898  

United Parcel Service, Inc., Class B

     324,016        54,360,164  

United Rentals, Inc.(b)(c)

     206,312        65,134,762  

Verisk Analytics, Inc.

     334,991        61,246,405  

W.W. Grainger, Inc.

     112,512        65,746,387  

Wabtec Corp.

     705,360        65,795,981  

Waste Management, Inc.

     371,185        58,784,569  

Xylem, Inc.(c)

     664,227        68,036,772  
     

 

 

 
         4,504,493,307  
     

 

 

 

Information Technology-14.57%

 

Accenture PLC, Class A(c)

     221,454        62,870,791  

Adobe, Inc.(b)

     162,569        51,778,227  

Advanced Micro Devices, Inc.(b)

     751,649        45,144,039  

Akamai Technologies, Inc.(b)

     701,897        61,998,562  

Amphenol Corp., Class A

     847,607        64,274,039  

Analog Devices, Inc.

     417,400        59,529,588  

ANSYS, Inc.(b)

     248,099        54,869,575  

Apple, Inc.

     407,975        62,558,887  

Applied Materials, Inc.

     666,652        58,858,705  

Arista Networks, Inc.(b)

     517,021        62,487,158  

Autodesk, Inc.(b)

     304,095        65,167,558  

Automatic Data Processing, Inc.

     263,429        63,670,789  

Broadcom, Inc.

     123,544        58,080,505  

Broadridge Financial Solutions, Inc.

     373,270        56,012,896  

Cadence Design Systems, Inc.(b)

     369,029        55,867,300  

CDW Corp.

     366,696        63,368,736  

Ceridian HCM Holding, Inc.(b)(c)

     1,012,306        67,004,534  

Cisco Systems, Inc.

     1,406,062        63,877,397  

Cognizant Technology Solutions Corp., Class A

     982,026        61,131,119  

Corning, Inc.

     1,912,530        61,526,090  

DXC Technology Co.(b)

     2,404,680        69,134,550  

Enphase Energy, Inc.(b)

     209,927        64,447,589  

EPAM Systems, Inc.(b)(c)

     148,925        52,123,750  

F5, Inc.(b)

     401,580        57,389,798  

Fidelity National Information Services, Inc.

     703,473        58,381,224  

Fiserv, Inc.(b)

     604,252        62,080,850  

FleetCor Technologies, Inc.(b)

     291,276        54,212,289  

Fortinet, Inc.(b)

     1,200,558        68,623,895  

Gartner, Inc.(b)(c)

     209,630        63,291,490  

Global Payments, Inc.(c)

     485,179        55,436,553  

Hewlett Packard Enterprise Co.(c)

     4,790,859        68,365,558  

HP, Inc.(c)

     2,276,925        62,888,669  

Intel Corp.

     2,050,096        58,284,229  

International Business Machines Corp.

     498,311        68,911,428  

Intuit, Inc.

     142,561        60,944,828  

Jack Henry & Associates, Inc.

     321,212        63,940,461  

Juniper Networks, Inc.(c)

     2,215,658        67,799,135  

Keysight Technologies, Inc.(b)

     373,376        65,023,430  

KLA Corp.

     179,347        56,754,358  

Lam Research Corp.

     142,328        57,611,528  

Mastercard, Inc., Class A

     191,749        62,928,187  

Microchip Technology, Inc.(c)

     960,738        59,315,964  

Micron Technology, Inc.(c)

     1,120,382        60,612,666  

Microsoft Corp.

     243,307        56,478,854  

Monolithic Power Systems, Inc.

     143,450        48,694,103  

Motorola Solutions, Inc.

     257,706        64,351,765  

NetApp, Inc.

     888,059        61,515,847  
     Shares      Value  

Information Technology-(continued)

     

NortonLifeLock, Inc.

     2,830,853      $ 63,779,118  

NVIDIA Corp.

     447,141        60,350,621  

NXP Semiconductors N.V. (China)

     382,545        55,882,174  

ON Semiconductor Corp.(b)(c)

     898,008        55,164,631  

Oracle Corp.

     849,247        66,300,713  

Paychex, Inc.

     507,363        60,026,117  

Paycom Software, Inc.(b)

     173,893        60,166,978  

PayPal Holdings, Inc.(b)(c)

     668,551        55,877,493  

PTC, Inc.(b)

     536,226        63,183,510  

Qorvo, Inc.(b)

     687,913        59,215,551  

QUALCOMM, Inc.

     487,264        57,331,482  

Roper Technologies, Inc.

     156,834        65,013,966  

salesforce.com, Inc.(b)

     395,802        64,353,447  

Seagate Technology Holdings PLC(c)

     933,073        46,336,405  

ServiceNow, Inc.(b)(c)

     136,584        57,466,352  

Skyworks Solutions, Inc.

     625,657        53,812,759  

SolarEdge Technologies, Inc.(b)(c)

     205,104        47,180,073  

Synopsys, Inc.(b)

     189,615        55,471,868  

TE Connectivity Ltd. (Switzerland)

     497,561        60,816,881  

Teledyne Technologies, Inc.(b)(c)

     165,514        65,871,262  

Teradyne, Inc.(c)

     724,401        58,930,021  

Texas Instruments, Inc.

     376,842        60,532,130  

Trimble, Inc.(b)

     1,020,000        61,363,200  

Tyler Technologies, Inc.(b)(c)

     167,474        54,149,368  

VeriSign, Inc.(b)

     337,537        67,662,667  

Visa, Inc., Class A(c)

     314,059        65,060,462  

Western Digital Corp.(b)

     1,466,287        50,396,284  

Zebra Technologies Corp., Class A(b)

     208,490        59,048,538  
     

 

 

 
         4,500,363,564  
     

 

 

 

Materials-5.39%

 

Air Products and Chemicals, Inc.

     250,248        62,662,099  

Albemarle Corp.(c)

     214,693        60,086,130  

Amcor PLC

     5,235,724        60,629,684  

Avery Dennison Corp.

     337,331        57,194,471  

Ball Corp.(c)

     1,086,682        53,671,224  

Celanese Corp.

     557,034        53,542,108  

CF Industries Holdings, Inc.

     620,585        65,943,362  

Corteva, Inc.

     1,029,432        67,263,087  

Dow, Inc.

     1,274,117        59,552,229  

DuPont de Nemours, Inc.

     1,102,073        63,038,576  

Eastman Chemical Co.

     685,827        52,678,372  

Ecolab, Inc.(c)

     372,783        58,553,026  

FMC Corp.

     571,030        67,895,467  

Freeport-McMoRan, Inc.

     1,999,956        63,378,606  

International Flavors & Fragrances, Inc.

     560,865        54,746,033  

International Paper Co.

     1,539,638        51,747,233  

Linde PLC (United Kingdom)(c)

     224,112        66,639,703  

LyondellBasell Industries N.V., Class A

     765,046        58,487,767  

Martin Marietta Materials, Inc.

     180,515        60,649,430  

Mosaic Co. (The)(c)

     1,144,246        61,503,222  

Newmont Corp.

     1,490,322        63,070,427  

Nucor Corp.(c)

     447,315        58,768,245  

Packaging Corp.of America

     462,437        55,589,552  

PPG Industries, Inc.

     502,403        57,364,374  

Sealed Air Corp.

     1,161,060        55,289,677  

Sherwin-Williams Co. (The)

     267,665        60,232,655  

 

 

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

   
   

 

  6   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Materials-(continued)

     

Vulcan Materials Co.

     374,545      $ 61,313,016  

WestRock Co.

     1,573,774        53,602,742  
     

 

 

 
         1,665,092,517  
     

 

 

 

Real Estate-5.64%

     

Alexandria Real Estate Equities, Inc.(c)

     404,258        58,738,687  

American Tower Corp.

     245,494        50,863,902  

AvalonBay Communities, Inc.

     300,239        52,577,854  

Boston Properties, Inc.

     749,988        54,524,128  

Camden Property Trust

     477,397        55,163,223  

CBRE Group, Inc., Class A(b)

     792,796        56,240,948  

Crown Castle, Inc.(c)

     368,792        49,145,222  

Digital Realty Trust, Inc.(c)

     515,978        51,726,794  

Equinix, Inc.

     97,483        55,218,270  

Equity Residential

     833,425        52,522,443  

Essex Property Trust, Inc.

     230,668        51,263,656  

Extra Space Storage, Inc.

     318,062        56,436,921  

Federal Realty Investment Trust

     619,066        61,275,153  

Healthpeak Properties, Inc.

     2,357,343        55,939,749  

Host Hotels & Resorts, Inc.

     3,527,461        66,598,464  

Invitation Homes, Inc.

     1,630,681        51,676,281  

Iron Mountain, Inc.(c)

     1,165,194        58,341,264  

Kimco Realty Corp.

     2,923,368        62,501,608  

Mid-America Apartment Communities, Inc.

     372,657        58,674,845  

Prologis, Inc.

     495,331        54,857,908  

Public Storage

     190,213        58,918,477  

Realty Income Corp.

     965,574        60,126,293  

Regency Centers Corp.

     1,033,296        62,524,741  

SBA Communications Corp., Class A

     194,628        52,530,097  

Simon Property Group, Inc.

     620,058        67,573,921  

UDR, Inc.

     1,338,457        53,217,050  

Ventas, Inc.

     1,295,077        50,676,363  

VICI Properties, Inc.

     1,908,089        61,097,010  

Vornado Realty Trust

     2,318,756        54,699,454  

Welltower, Inc.(c)

     827,638        50,519,024  

Weyerhaeuser Co.

     1,863,958        57,652,221  
     

 

 

 
        1,743,821,971  
     

 

 

 

Utilities-5.54%

     

AES Corp. (The)

     2,345,767        61,365,265  

Alliant Energy Corp.

     1,022,368        53,336,939  

Ameren Corp.

     671,640        54,752,093  

American Electric Power Co., Inc.

     614,611        54,036,599  

American Water Works Co., Inc.

     415,502        60,389,061  

Atmos Energy Corp.(c)

     545,055        58,075,610  

CenterPoint Energy, Inc.

     1,958,982        56,046,475  

CMS Energy Corp.

     921,357        52,563,417  

Consolidated Edison, Inc.

     638,101        56,127,364  

Constellation Energy Corp.(c)

     735,174        69,503,350  

Dominion Energy, Inc.

     775,483        54,260,546  

DTE Energy Co.

     473,857        53,124,108  
         Shares                Value        

Utilities-(continued)

     

Duke Energy Corp.

     584,379      $ 54,452,435  

Edison International

     932,963        56,015,099  

Entergy Corp.

     537,395        57,576,500  

Evergy, Inc.

     915,442        55,960,969  

Eversource Energy

     702,347        53,575,029  

Exelon Corp.

     1,406,919        54,293,004  

FirstEnergy Corp.

     1,550,073        58,453,253  

NextEra Energy, Inc.

     715,571        55,456,752  

NiSource, Inc.

     2,117,291        54,393,206  

NRG Energy, Inc.

     1,486,279        65,990,788  

PG&E Corp.(b)(c)

     5,261,353        78,552,000  

Pinnacle West Capital Corp.

     835,330        56,142,529  

PPL Corp.

     2,155,399        57,096,520  

Public Service Enterprise Group, Inc.

     946,355        53,062,125  

Sempra Energy

     370,432        55,913,006  

Southern Co. (The)

     808,113        52,915,239  

WEC Energy Group, Inc.

     603,321        55,101,307  

Xcel Energy, Inc.

     835,967        54,429,811  
     

 

 

 
        1,712,960,399  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $32,003,383,155)

 

      30,867,342,086  
     

 

 

 

Money Market Funds-0.01%

 

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $2,037,687)

     2,037,687        2,037,687  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.94%
(Cost $32,005,420,842)

 

     30,869,379,773  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-5.74%

 

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

     492,313,323        492,313,323  

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

     1,279,640,366        1,279,640,366  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $1,771,953,232)

 

     1,771,953,689  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-105.68%
(Cost $33,777,374,074)

 

     32,641,333,462  

OTHER ASSETS LESS LIABILITIES-(5.68)%

 

     (1,753,804,920
     

 

 

 

NET ASSETS-100.00%

 

   $ 30,887,528,542  
     

 

 

 

 

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

   
   

 

  7   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d)

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

 

   

Value

April 30, 2022

   Purchases
at Cost
  

Proceeds

    from Sales   

 

Change in

Unrealized

Appreciation

(Depreciation)

  Realized
Gain
 

Value

October 31, 2022

   Dividend
 Income 

Invesco Ltd.

       $ 59,558,699         $ 13,702,081      $ (6,903,222 )           $ (10,455,729 )         $ 294,091          $ 56,195,920          $ 1,264,931

Investments in Affiliated Money Market Funds:

                                                                

Invesco Government

& Agency Portfolio, Institutional Class

         17,804,249        340,008,268        (355,774,830 )           -           -            2,037,687            95,748

Investments Purchased with Cash Collateral from Securities on Loan:

                                                  

Invesco Private Government Fund

         367,592,691        2,667,186,468        (2,542,465,836 )           -           -            492,313,323            4,803,338 *

Invesco Private Prime Fund

         845,183,990        5,142,021,579        (4,707,503,230 )           (129,780 )           67,807            1,279,640,366            13,343,826 *
      

 

 

      

 

 

      

 

 

         

 

 

         

 

 

          

 

 

          

 

 

 

Total

       $ 1,290,139,629      $ 8,162,918,396      $ (7,612,647,118 )         $ (10,585,509 )         $ 361,898          $ 1,830,187,296          $ 19,507,843
      

 

 

      

 

 

      

 

 

         

 

 

         

 

 

          

 

 

          

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

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

   
   

 

  8   

   
 


 

Invesco S&P 500® Equal Weight ETF (RSP)–(continued)

October 31, 2022

(Unaudited)

 

 Portfolio Composition

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

 as of October 31, 2022

 

     

Industrials

     14.58                                           

Information Technology

     14.57     

Financials

     13.68     

Health Care

     13.12     

Consumer Discretionary

     11.10     

Consumer Staples

     6.86     

Real Estate

     5.64     

Utilities

     5.54     

Materials

     5.39     

Energy

     5.30     

Communication Services

     4.15     

Money Market Funds Plus Other Assets Less Liabilities

     0.07     

 

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

   
   

 

  9   

   
 


 

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-100.00%

 

Diversified Telecommunication Services-13.52%

 

AT&T, Inc.

     90,914      $ 1,657,362  

Lumen Technologies, Inc.(b)

     155,292        1,142,949  

Verizon Communications, Inc.

     36,654        1,369,760  
     

 

 

 
        4,170,071  
     

 

 

 

Entertainment-34.44%

 

Activision Blizzard, Inc.

     19,721        1,435,689  

Electronic Arts, Inc.

     12,009        1,512,654  

Live Nation Entertainment, Inc.(c)

     16,626        1,323,596  

Netflix, Inc.(c)

     6,629        1,934,872  

Take-Two Interactive Software, Inc.(c)

     12,117        1,435,622  

Walt Disney Co. (The)(c)

     13,442        1,432,111  

Warner Bros Discovery, Inc.(c)

     118,823        1,544,699  
     

 

 

 
        10,619,243  
     

 

 

 

Interactive Media & Services-10.52%

 

Alphabet, Inc., Class A(c)

     7,351        694,743  

Alphabet, Inc., Class C(c)

     6,574        622,295  

Match Group, Inc.(c)

     24,872        1,074,470  

Meta Platforms, Inc., Class A(c)

     9,153        852,694  
     

 

 

 
        3,244,202  
     

 

 

 

Media-36.30%

 

Charter Communications, Inc., Class A(c)

     3,814        1,402,103  

Comcast Corp., Class A

     43,699        1,387,006  

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

     80,096        1,194,231  

Fox Corp., Class A

     31,468        908,481  

Fox Corp., Class B

     14,450        393,040  

Interpublic Group of Cos., Inc. (The)

     54,230        1,615,512  

News Corp., Class A

     67,435        1,137,629  

News Corp., Class B

     20,890        357,846  

Omnicom Group, Inc.

     21,989        1,599,700  

Paramount Global, Class B

     65,438        1,198,824  
     

 

 

 
        11,194,372  
     

 

 

 

     Shares      Value  

Wireless Telecommunication Services-5.22%

 

  

T-Mobile US, Inc.(c)

     10,626      $ 1,610,476  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $42,925,311)

        30,838,364  
     

 

 

 

Money Market Funds-6.06%

 

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $1,868,646)

     1,868,646        1,868,646  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-106.06%
(Cost $44,793,957)

 

     32,707,010  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-7.02%

 

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

     606,797        606,797  

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

     1,560,216        1,560,216  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $2,167,070)

 

     2,167,013  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-113.08%
(Cost $46,961,027)

 

     34,874,023  

OTHER ASSETS LESS LIABILITIES-(13.08)%

 

     (4,034,901
     

 

 

 

NET ASSETS-100.00%

 

   $ 30,839,122  
     

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c)

Non-income producing security.

(d) 

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

   $     -      $     2,203,273      $ (334,627     $    -        $    -        $1,868,646      $ 342  

 

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

   
   

 

  10   

   
 


 

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)–(continued)

October 31, 2022

(Unaudited)

 

     Value
April 30, 2022
   Purchases
at Cost
  

Proceeds

  from Sales  

 

Change in

Unrealized

Appreciation

(Depreciation)

 

Realized

    Gain    

  

Value

October 31, 2022

  

Dividend

 Income 

                                  

Investments Purchased with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

     $ 910,132      $ 6,879,622      $ (7,182,957 )     $ -     $ -      $ 606,797      $ 8,786 *

Invesco Private Prime Fund

       2,122,766        12,729,291        (13,291,917 )       (192 )       268        1,560,216        23,372 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 3,032,898      $ 21,812,186      $ (20,809,501 )     $ (192 )     $ 268      $ 4,035,659      $ 32,500
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

 Portfolio Composition

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

 as of October 31, 2022

 

Media

     36.30                                  

Entertainment

     34.44     

Diversified Telecommunication Services

     13.52     

Interactive Media & Services

     10.52     

Wireless Telecommunication Services

     5.22     

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.

   
   

 

  11   

   
 


 

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)

October 31, 2022

(Unaudited)

 

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-100.00%

 

Auto Components-3.59%

     

Aptiv PLC(b)(c)

     68,823      $ 6,267,711  

BorgWarner, Inc.

     172,595        6,477,490  
     

 

 

 
        12,745,201  
     

 

 

 

Automobiles-4.83%

     

Ford Motor Co.

     431,695        5,771,762  

General Motors Co.

     161,260        6,329,455  

Tesla, Inc.(b)

     22,210        5,053,664  
     

 

 

 
        17,154,881  
     

 

 

 

Distributors-5.60%

     

Genuine Parts Co.

     40,900        7,274,474  

LKQ Corp.

     124,088        6,904,256  

Pool Corp.

     18,740        5,701,270  
     

 

 

 
        19,880,000  
     

 

 

 

Hotels, Restaurants & Leisure-31.53%

     

Booking Holdings, Inc.(b)

     3,371        6,302,017  

Caesars Entertainment, Inc.(b)

     137,791        6,025,600  

Carnival Corp.(b)(c)

     640,202        5,800,230  

Chipotle Mexican Grill, Inc.(b)

     3,907        5,853,975  

Darden Restaurants, Inc.(c)

     50,932        7,290,406  

Domino’s Pizza, Inc.

     18,127        6,022,514  

Expedia Group, Inc.(b)

     61,112        5,712,139  

Hilton Worldwide Holdings, Inc.

     49,107        6,642,213  

Las Vegas Sands Corp.(b)

     174,462        6,631,301  

Marriott International, Inc., Class A

     41,120        6,583,723  

McDonald’s Corp.

     25,732        7,016,087  

MGM Resorts International

     189,937        6,756,059  

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

     455,990        7,701,671  

Royal Caribbean Cruises Ltd.(b)(c)

     140,920        7,522,310  

Starbucks Corp.

     75,237        6,514,772  

Wynn Resorts Ltd.(b)(c)

     106,140        6,782,346  

Yum! Brands, Inc.

     57,338        6,780,219  
     

 

 

 
        111,937,582  
     

 

 

 

Household Durables-13.94%

     

D.R. Horton, Inc.

     90,806        6,981,165  

Garmin Ltd.

     73,286        6,452,099  

Lennar Corp., Class A

     83,428        6,732,640  

Mohawk Industries, Inc.(b)

     58,560        5,548,560  

Newell Brands, Inc.

     366,765        5,065,025  

NVR, Inc.(b)

     1,556        6,593,939  

PulteGroup, Inc.

     159,396        6,374,246  

Whirlpool Corp.(c)

     41,530        5,741,107  
     

 

 

 
        49,488,781  
     

 

 

 

Internet & Direct Marketing Retail-4.69%

     

Amazon.com, Inc.(b)

     49,963        5,118,210  

eBay, Inc.

     147,581        5,879,627  

Etsy, Inc.(b)(c)

     60,387        5,670,943  
     

 

 

 
        16,668,780  
     

 

 

 

 

     Shares      Value  

Leisure Products-1.50%

     

Hasbro, Inc.

     81,740      $ 5,333,535  
     

 

 

 

Multiline Retail-5.77%

     

Dollar General Corp.

     26,994        6,884,820  

Dollar Tree, Inc.(b)

     46,099        7,306,691  

Target Corp.

     38,335        6,296,524  
     

 

 

 
        20,488,035  
     

 

 

 

Specialty Retail-22.29%

     

Advance Auto Parts, Inc.

     36,857        6,999,882  

AutoZone, Inc.(b)

     3,044        7,710,087  

Bath & Body Works, Inc.

     167,935        5,605,670  

Best Buy Co., Inc.

     87,254        5,969,046  

CarMax, Inc.(b)(c)

     73,132        4,608,047  

Home Depot, Inc.(The)

     22,209        6,576,751  

Lowe’s Cos., Inc.

     32,455        6,327,102  

O’Reilly Automotive, Inc.(b)

     9,227        7,724,568  

Ross Stores, Inc.

     71,211        6,814,181  

TJX Cos., Inc. (The)

     100,004        7,210,288  

Tractor Supply Co.

     33,133        7,281,639  

Ulta Beauty, Inc.(b)

     15,026        6,301,454  
     

 

 

 
        79,128,715  
     

 

 

 

Textiles, Apparel & Luxury Goods-6.26%

 

  

NIKE, Inc., Class B

     60,078        5,568,029  

Ralph Lauren Corp.

     68,874        6,383,931  

Tapestry, Inc.(c)

     187,361        5,935,597  

VF Corp.

     153,544        4,337,618  
     

 

 

 
        22,225,175  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.00%
(Cost $439,828,669)

 

     355,050,685  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-10.09%

     

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

     10,031,381        10,031,381  

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

     25,788,492        25,788,492  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $35,819,547)

 

     35,819,873  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-110.09%
(Cost $475,648,216)

 

     390,870,558  

OTHER ASSETS LESS LIABILITIES-(10.09)%

 

     (35,829,910
     

 

 

 

NET ASSETS-100.00%

      $ 355,040,648  
     

 

 

 

 

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

   
   

 

  12   

   
 


 

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d) 

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

 

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

Investments in Affiliated

Money Market Funds:

                                

Invesco Government & Agency Portfolio, Institutional Class

     $ -      $ 6,352,771      $ (6,352,771 )     $ -     $ -      $ -      $ 2,329

Investments Purchased

with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

       17,585,005        80,021,707        (87,575,331 )       -       -        10,031,381        123,992 *

Invesco Private Prime Fund

       38,490,048        176,323,502        (189,024,704 )       (2,652 )       2,298        25,788,492        339,848 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 56,075,053      $ 262,697,980      $ (282,952,806 )     $ (2,652 )     $ 2,298      $ 35,819,873      $ 466,169
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 Portfolio Composition

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

 as of October 31, 2022

     

Hotels, Restaurants & Leisure

     31.53                                           

Specialty Retail

     22.29     

Household Durables

     13.94     

Textiles, Apparel & Luxury Goods

     6.26     

Multiline Retail

     5.77     

Distributors

     5.60     

Automobiles

     4.83     

Internet & Direct Marketing Retail

     4.69     

Auto Components

     3.59     

Leisure Products

     1.50     

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.

   
   

 

  13   

   
 


 

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

     Shares      Value  

Common Stocks & Other Equity Interests-99.90%

 

Beverages-21.00%

     

Brown-Forman Corp., Class B

     272,271      $ 18,514,428  

Coca-Cola Co. (The)

     321,022        19,213,167  

Constellation Brands, Inc., Class A

     81,096        20,037,200  

Keurig Dr Pepper, Inc.(b)

     517,085        20,083,581  

Molson Coors Beverage Co., Class B(b)

     383,474        19,338,594  

Monster Beverage Corp.(c)

     216,444        20,285,132  

PepsiCo, Inc.

     115,501        20,972,671  
     

 

 

 
        138,444,773  
     

 

 

 

Food & Staples Retailing-14.95%

     

Costco Wholesale Corp.

     37,283        18,697,425  

Kroger Co. (The)

     385,181        18,215,209  

Sysco Corp.

     238,475        20,642,396  

Walgreens Boots Alliance, Inc.

     552,040        20,149,460  

Walmart, Inc.

     146,202        20,808,931  
     

 

 

 
        98,513,421  
     

 

 

 

Food Products-41.07%

     

Archer-Daniels-Midland Co.(b)

     218,718        21,211,272  

Campbell Soup Co.(b)

     417,403        22,084,793  

Conagra Brands, Inc.

     582,080        21,362,336  

General Mills, Inc.

     263,543        21,499,838  

Hershey Co. (The)(b)

     88,431        21,114,670  

Hormel Foods Corp.

     426,932        19,830,991  

JM Smucker Co. (The)(b)

     143,473        21,615,642  

Kellogg Co.

     277,627        21,327,306  

Kraft Heinz Co. (The)

     548,715        21,109,066  

Lamb Weston Holdings, Inc.

     251,649        21,697,177  

McCormick & Co., Inc.(b)

     250,422        19,693,186  

Mondelez International, Inc., Class A

     326,201        20,054,838  

Tyson Foods, Inc., Class A

     264,729        18,094,227  
     

 

 

 
        270,695,342  
     

 

 

 

Household Products-14.52%

     

Church & Dwight Co., Inc.

     245,296        18,183,792  

Clorox Co. (The)

     135,023        19,718,759  

Colgate-Palmolive Co.

     256,389        18,931,764  

Kimberly-Clark Corp.

     157,721        19,629,956  

Procter & Gamble Co. (The)

     142,947        19,250,672  
     

 

 

 
        95,714,943  
     

 

 

 
     Shares      Value  

Personal Products-2.41%

     

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

     79,111      $ 15,860,964  
     

 

 

 

Tobacco-5.95%

     

Altria Group, Inc.

     439,017        20,313,317  

Philip Morris International, Inc.

     206,123        18,932,397  
     

 

 

 
        39,245,714  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $619,557,048)

 

     658,475,157  
     

 

 

 

Money Market Funds-0.03%

     

Invesco Government & Agency Portfolio,
Institutional Class, 3.07%(d)(e)
(Cost $159,115)

     159,115        159,115  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash
collateral from securities on loan)-99.93%
(Cost $619,716,163)

 

     658,634,272  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-4.97%

     

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

     9,170,455        9,170,455  

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

     23,576,056        23,576,056  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $32,744,544)

 

     32,746,511  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-104.90%
(Cost $652,460,707)

 

     691,380,783  

OTHER ASSETS LESS LIABILITIES-(4.90)%

 

     (32,265,864
     

 

 

 

NET ASSETS-100.00%

      $ 659,114,919  
     

 

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c) 

Non-income producing security.

(d) 

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

 

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

Investments in Affiliated Money Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $                 -      $     8,956,923      $       (8,797,808)     $         -      $         -      $     159,115      $     1,965

 

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

   
   

 

  14   

   
 


 

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)–(continued)

October 31, 2022

(Unaudited)

 

    

Value
April 30, 2022

   Purchases
at Cost
   Proceeds
from Sales
 

Change in
Unrealized
Appreciation

  

Realized
Gain

  

Value
October 31, 2022

  

Dividend
Income

Investments Purchased with Cash Collateral from Securities on Loan:

                                 

Invesco Private Government Fund

     $ 7,669,376      $ 102,902,763      $ (101,401,684 )     $ -      $ -      $ 9,170,455      $ 56,669 *

Invesco Private Prime Fund

       17,886,073        181,101,172        (175,415,059 )       1,967        1,903        23,576,056        158,062 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ 25,555,449      $ 292,960,858      $ (285,614,551 )     $ 1,967      $ 1,903      $ 32,905,626      $ 216,696
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 Portfolio Composition

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

 as of October 31, 2022

     

Food Products

     41.07     

Beverages

     21.00                                           

Food & Staples Retailing

     14.95     

Household Products

     14.52     

Tobacco

     5.95     

Personal Products

     2.41     

Money Market Funds Plus Other Assets Less Liabilities

     0.10     

 

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

   
   

 

  15   

   
 


 

Invesco S&P 500® Equal Weight Energy ETF (RYE)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.92%

 

Energy Equipment & Services-14.34%

 

Baker Hughes Co., Class A(b)

     918,146      $ 25,395,918  

Halliburton Co.

     781,627        28,466,855  

Schlumberger Ltd.

     584,680        30,420,901  
     

 

 

 
        84,283,674  
     

 

 

 

Oil, Gas & Consumable Fuels-85.58%

 

APA Corp.

     608,633        27,668,456  

Chevron Corp.

     144,934        26,218,561  

ConocoPhillips

     207,058        26,107,943  

Coterra Energy, Inc.(b)

     778,770        24,243,110  

Devon Energy Corp.(b)

     338,391        26,174,544  

Diamondback Energy, Inc.(b)

     171,692        26,974,530  

EOG Resources, Inc.

     187,925        25,655,521  

EQT Corp.

     469,196        19,631,161  

Exxon Mobil Corp.

     240,260        26,623,211  

Hess Corp.(b)

     189,301        26,706,585  

Kinder Morgan, Inc.

     1,266,176        22,943,109  

Marathon Oil Corp.

     879,834        26,790,945  

Marathon Petroleum Corp.

     231,823        26,339,729  

Occidental Petroleum Corp.

     353,336        25,652,194  

ONEOK, Inc.

     370,990        22,007,127  

Phillips 66

     263,341        27,463,833  

Pioneer Natural Resources Co.

     96,765        24,811,514  

Targa Resources Corp.

     322,630        22,058,213  
         Shares                Value        

Oil, Gas & Consumable Fuels-(continued)

 

Valero Energy Corp.

     204,599      $ 25,687,404  

Williams Cos., Inc. (The)

     707,472        23,155,558  
     

 

 

 
        502,913,248  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.92%
(Cost $478,179,405)

 

     587,196,922  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-7.38%

 

  

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

     12,329,717        12,329,717  

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

     31,065,647        31,065,647  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $43,392,257)

 

     43,395,364  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.30%
(Cost $521,571,662)

 

     630,592,286  

OTHER ASSETS LESS LIABILITIES-(7.30)%

 

     (42,919,947
     

 

 

 

NET ASSETS-100.00%

 

   $ 587,672,339  
     

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c) 

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

 

    

Value
April 30, 2022

   Purchases
at Cost
  

Proceeds
  from Sales  

 

Change in
Unrealized
Appreciation

  

Realized
    Gain    

  

Value
October 31, 2022

  

Dividend
 Income 

Investments in Affiliated Money Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $ 181,238      $ 11,208,202      $ (11,389,440 )     $ -      $ -      $ -      $ 2,676

Investments Purchased with Cash Collateral from Securities on Loan:

                                 

Invesco Private Government Fund

       15,203,522        95,395,226        (98,269,031 )       -        -        12,329,717        51,798 *

Invesco Private Prime Fund

       35,462,109        195,954,644        (200,359,524 )       1,307        7,111        31,065,647        153,118 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ 50,846,869      $ 302,558,072      $ (310,017,995 )     $ 1,307      $ 7,111      $ 43,395,364      $ 207,592
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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.

 

(d) 

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

(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 2I.

 

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

   
   

 

  16   

   
 


 

Invesco S&P 500® Equal Weight Energy ETF (RYE)–(continued)

October 31, 2022

(Unaudited)

 

 Portfolio Composition

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

 

     

Oil, Gas & Consumable Fuels

     85.58                                           

Energy Equipment & Services

     14.34     

Money Market Funds Plus Other Assets Less Liabilities

     0.08     

 

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

   
   

 

  17   

   
 


 

Invesco S&P 500® Equal Weight Financials ETF (RYF)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-100.01%

 

Banks-25.42%

     

Bank of America Corp.

     180,063      $ 6,489,470  

Citigroup, Inc.

     124,131        5,692,648  

Citizens Financial Group, Inc.

     164,159        6,714,103  

Comerica, Inc.

     74,364        5,242,662  

Fifth Third Bancorp

     176,019        6,282,118  

First Republic Bank

     40,322        4,842,672  

Huntington Bancshares, Inc.

     444,727        6,750,956  

JPMorgan Chase & Co.

     52,790        6,645,205  

KeyCorp

     336,968        6,021,618  

M&T Bank Corp.

     33,518        5,643,426  

PNC Financial Services Group, Inc. (The)

     38,283        6,195,338  

Regions Financial Corp.

     283,245        6,217,228  

Signature Bank

     34,239        5,427,909  

SVB Financial Group(b)

     14,863        3,432,758  

Truist Financial Corp.

     129,700        5,809,263  

U.S. Bancorp

     132,192        5,611,550  

Wells Fargo & Co.

     138,748        6,381,021  

Zions Bancorporation N.A.

     107,232        5,569,630  
     

 

 

 
        104,969,575  
     

 

 

 

Capital Markets-30.25%

     

Ameriprise Financial, Inc.

     21,945        6,783,638  

Bank of New York Mellon Corp. (The)

     142,540        6,002,359  

BlackRock, Inc.

     9,042        5,840,318  

Cboe Global Markets, Inc.

     50,723        6,315,013  

Charles Schwab Corp. (The)

     84,365        6,721,360  

CME Group, Inc., Class A

     31,236        5,413,199  

FactSet Research Systems, Inc.

     13,869        5,901,121  

Franklin Resources, Inc.

     238,413        5,590,785  

Goldman Sachs Group, Inc. (The)

     18,495        6,371,712  

Intercontinental Exchange, Inc.

     60,849        5,815,339  

Invesco Ltd.(c)

     357,871        5,482,584  

MarketAxess Holdings, Inc.

     23,654        5,772,522  

Moody’s Corp.(d)

     20,998        5,561,740  

Morgan Stanley

     70,283        5,775,154  

MSCI, Inc.

     12,800        6,001,408  

Nasdaq, Inc.

     99,448        6,189,644  

Northern Trust Corp.

     63,480        5,354,538  

Raymond James Financial, Inc.

     58,012        6,853,538  

S&P Global, Inc.

     17,025        5,469,281  

State Street Corp.

     86,137        6,374,138  

T. Rowe Price Group, Inc.(d)

     50,555        5,366,919  
     

 

 

 
        124,956,310  
     

 

 

 

Consumer Finance-6.09%

     

American Express Co.

     39,694        5,892,574  

Capital One Financial Corp.

     58,063        6,155,839  

Discover Financial Services

     61,349        6,408,517  

Synchrony Financial

     188,246        6,694,028  
     

 

 

 
        25,150,958  
     

 

 

 
         Shares                Value        

Diversified Financial Services-1.57%

     

Berkshire Hathaway, Inc., Class B(b)

     22,006      $ 6,493,751  
     

 

 

 

Insurance-36.68%

     

Aflac, Inc.

     101,625        6,616,804  

Allstate Corp. (The)

     49,729        6,278,286  

American International Group, Inc.

     114,301        6,515,157  

Aon PLC, Class A

     21,536        6,062,169  

Arch Capital Group Ltd.(b)

     141,244        8,121,530  

Arthur J. Gallagher & Co.

     33,370        6,242,860  

Assurant, Inc.

     38,437        5,222,051  

Brown & Brown, Inc.

     96,191        5,655,069  

Chubb Ltd.

     32,264        6,933,211  

Cincinnati Financial Corp.

     62,449        6,452,231  

Everest Re Group Ltd.

     22,244        7,177,249  

Globe Life, Inc.

     61,216        7,071,672  

Hartford Financial Services Group, Inc. (The)

     93,841        6,795,027  

Lincoln National Corp.

     123,782        6,668,136  

Loews Corp.

     110,602        6,306,526  

Marsh & McLennan Cos., Inc.

     37,719        6,091,241  

MetLife, Inc.

     92,962        6,805,748  

Principal Financial Group, Inc.

     80,336        7,080,012  

Progressive Corp. (The)

     48,883        6,276,577  

Prudential Financial, Inc.

     63,885        6,720,063  

Travelers Cos., Inc. (The)

     38,320        7,068,507  

W.R. Berkley Corp.

     92,982        6,916,001  

Willis Towers Watson PLC

     29,410        6,417,556  
     

 

 

 
        151,493,683  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.01%
(Cost $440,091,687)

 

     413,064,277  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-1.88%

     

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

     2,173,243        2,173,243  

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

     5,587,113        5,587,113  
     

 

 

 

Total Investments Purchased with Cash Collateral
from Securities on Loan
(Cost $7,760,024)

 

     7,760,356  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-101.89%

(Cost $447,851,711)

 

 

     420,824,633  

OTHER ASSETS LESS LIABILITIES-(1.89)%

 

     (7,790,591
     

 

 

 

NET ASSETS-100.00%

 

   $ 413,034,042  
     

 

 

 

 

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

   
   

 

  18   

   
 


 

Invesco S&P 500® Equal Weight Financials ETF (RYF)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

 

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

Invesco Ltd.

     $ 7,012,025      $ 2,614,264      $ (2,944,274 )     $ 132,127      $ (1,331,558 )     $ 5,482,584        $137,884

Investments in Affiliated

Money Market Funds:

                                

Invesco Government &

Agency Portfolio, Institutional Class

       28,273        5,528,223        (5,556,496 )       -        -       -        1,965

Investments Purchased with

Cash Collateral from

Securities on Loan:

                                

Invesco Private Government Fund

       6,115,131        33,145,994        (37,087,882 )       -        -       2,173,243        29,957 *

Invesco Private Prime Fund

       14,063,546        78,712,463        (87,192,441 )       332        3,213       5,587,113        79,479 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

Total

     $ 27,218,975      $ 120,000,944      $ (132,781,093 )     $ 132,459      $ (1,328,345 )     $ 13,242,940      $ 249,285
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

 

*

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.

(d) 

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

(e) 

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

(f) 

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

 

Portfolio Composition

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

as of October 31, 2022

     

Insurance

     36.68                                          

Capital Markets

     30.25    

Banks

     25.42    

Consumer Finance

     6.09    

Diversified Financial Services

     1.57    

Money Market Funds Plus Other Assets Less Liabilities

     (0.01  

 

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

   
   

 

  19   

   
 



 

Invesco S&P 500® Equal Weight Health Care ETF (RYH)

October 31, 2022

(Unaudited)

 

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.94%

 

Biotechnology-14.06%

     

AbbVie, Inc.

     104,316      $ 15,271,863  

Amgen, Inc.(b)

     59,560        16,102,046  

Biogen, Inc.(c)

     69,639        19,738,478  

Gilead Sciences, Inc.

     225,987        17,730,940  

Incyte Corp.(b)(c)

     204,327        15,189,669  

Moderna, Inc.(b)(c)

     103,686        15,587,116  

Regeneron Pharmaceuticals, Inc.(c)

     20,367        15,249,791  

Vertex Pharmaceuticals, Inc.(c)

     50,503        15,756,936  
     

 

 

 
        130,626,839  
     

 

 

 

Health Care Equipment & Supplies-28.33%

 

Abbott Laboratories

     135,992        13,455,049  

ABIOMED, Inc.(c)

     52,262        13,174,205  

Align Technology, Inc.(c)

     56,069        10,894,207  

Baxter International, Inc.

     247,815        13,468,745  

Becton, Dickinson and Co.

     56,125        13,243,816  

Boston Scientific Corp.(c)

     343,559        14,810,829  

Cooper Cos., Inc. (The)

     46,878        12,815,976  

DENTSPLY SIRONA, Inc.

     434,406        13,388,393  

DexCom, Inc.(b)(c)

     158,816        19,181,797  

Edwards Lifesciences Corp.(c)

     151,696        10,987,341  

Hologic, Inc.(c)

     213,309        14,462,350  

IDEXX Laboratories, Inc.(c)

     39,431        14,182,542  

Intuitive Surgical, Inc.(c)

     66,657        16,428,951  

Medtronic PLC

     164,409        14,359,482  

ResMed, Inc.

     62,502        13,981,072  

STERIS PLC(b)

     70,149        12,106,314  

Stryker Corp.

     64,141        14,703,683  

Teleflex, Inc.

     60,923        13,071,639  

Zimmer Biomet Holdings, Inc.

     128,842        14,604,241  
     

 

 

 
        263,320,632  
     

 

 

 

Health Care Providers & Services-26.03%

 

AmerisourceBergen Corp.

     100,173        15,749,199  

Cardinal Health, Inc.(b)

     211,081        16,021,048  

Centene Corp.(c)

     160,370        13,652,298  

Cigna Corp.

     50,377        16,274,794  

CVS Health Corp.

     144,419        13,676,479  

DaVita, Inc.(b)(c)

     159,279        11,628,960  

Elevance Health, Inc.

     29,887        16,341,315  

HCA Healthcare, Inc.

     67,148        14,602,676  

Henry Schein, Inc.(b)(c)

     198,552        13,592,870  

Humana, Inc.

     30,831        17,206,164  

Laboratory Corp.of America Holdings

     61,902        13,733,578  

McKesson Corp.

     40,284        15,685,381  

Molina Healthcare, Inc.(c)

     42,364        15,202,745  

Quest Diagnostics, Inc.

     113,462        16,298,816  

UnitedHealth Group, Inc.

     28,135        15,619,145  

Universal Health Services, Inc., Class B(b)

     143,213        16,594,090  
     

 

 

 
        241,879,558  
     

 

 

 

Life Sciences Tools & Services-17.34%

 

Agilent Technologies, Inc.

     107,189        14,829,598  

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

     28,962        10,186,225  
         Shares                Value        

Life Sciences Tools & Services-(continued)

 

Bio-Techne Corp.

     42,541      $ 12,603,197  

Charles River Laboratories International, Inc.(b)(c)

     67,597        14,347,463  

Danaher Corp.

     50,797        12,784,081  

Illumina, Inc.(b)(c)

     70,133        16,047,833  

IQVIA Holdings, Inc.(c)

     66,104        13,860,026  

Mettler-Toledo International, Inc.(c)

     11,340        14,344,306  

PerkinElmer, Inc.(b)

     104,169        13,914,895  

Thermo Fisher Scientific, Inc.

     25,909        13,316,449  

Waters Corp.(c)

     47,241        14,133,090  

West Pharmaceutical Services, Inc.

     47,056        10,827,585  
     

 

 

 
        161,194,748  
     

 

 

 

Pharmaceuticals-14.18%

     

Bristol-Myers Squibb Co.

     210,268        16,289,462  

Catalent, Inc.(c)

     153,719        10,103,950  

Eli Lilly and Co.

     46,435        16,813,649  

Johnson & Johnson

     89,026        15,487,853  

Merck & Co., Inc.

     168,908        17,093,490  

Organon & Co.

     494,550        12,947,319  

Pfizer, Inc.

     308,370        14,354,623  

Viatris, Inc.

     1,493,160        15,125,711  

Zoetis, Inc.

     89,784        13,537,632  
     

 

 

 
        131,753,689  
     

 

 

 

Total Common Stocks & Other Equity Interests

(Cost $849,160,540)

 

 

     928,775,466  
     

 

 

 

Money Market Funds-0.04%

     

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $399,420)

     399,420        399,420  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.98%
(Cost $849,559,960)

 

     929,174,886  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-3.44%

     

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

     9,398,248        9,398,248  

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

     22,566,886        22,566,886  
     

 

 

 

Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $31,964,463)

 

     31,965,134  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-103.42%
(Cost $881,524,423)

 

     961,140,020  

OTHER ASSETS LESS LIABILITIES-(3.42)%

 

     (31,821,590
     

 

 

 

NET ASSETS-100.00%

      $ 929,318,430  
     

 

 

 

 

 

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

   
   

 

  20   

   
 


 

Invesco S&P 500® Equal Weight Health Care ETF (RYH)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c) 

Non-income producing security.

(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

     $ 363,099      $ 4,904,806      $ (4,868,485 )     $ -     $ -      $ 399,420      $ 3,804

Investments Purchased with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

       6,702,093        100,294,579        (97,598,424 )       -       -        9,398,248        60,597 *

Invesco Private Prime Fund

       16,417,660        229,188,846        (223,042,524 )       (205 )       3,109        22,566,886        168,715 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 23,482,852      $ 334,388,231      $ (325,509,433 )     $ (205 )     $ 3,109      $ 32,364,554      $ 233,116
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

 Portfolio Composition

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

 as of October 31, 2022

Health Care Equipment & Supplies

     28.33     

Health Care Providers & Services

     26.03     

Life Sciences Tools & Services

     17.34     

Pharmaceuticals

     14.18                                           

Biotechnology

     14.06     

Money Market Funds Plus Other Assets
Less Liabilities

     0.06     

 

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

   
   

 

  21   

   
 


 

Invesco S&P 500® Equal Weight Industrials ETF (RGI)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.98%

 

Aerospace & Defense-14.87%

     

Boeing Co. (The)(b)

     28,449      $ 4,054,267  

General Dynamics Corp.

     19,350        4,833,630  

Howmet Aerospace, Inc.

     123,080        4,375,494  

Huntington Ingalls Industries, Inc.

     19,045        4,895,898  

L3Harris Technologies, Inc.

     18,978        4,677,508  

Lockheed Martin Corp.(c)

     10,631        5,173,895  

Northrop Grumman Corp.

     9,119        5,006,422  

Raytheon Technologies Corp.

     50,901        4,826,433  

Textron, Inc.

     68,012        4,654,741  

TransDigm Group, Inc.

     7,229        4,162,169  
     

 

 

 
     46,660,457  
     

 

 

 

Air Freight & Logistics-4.87%

 

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

     39,210        3,831,601  

Expeditors International of Washington, Inc.

     43,323        4,239,156  

FedEx Corp.

     21,435        3,435,602  

United Parcel Service, Inc., Class B

     22,555        3,784,052  
     

 

 

 
     15,290,411  
     

 

 

 

Airlines-7.20%

 

Alaska Air Group, Inc.(b)(c)

     96,248        4,279,186  

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

     315,810        4,478,186  

Delta Air Lines, Inc.(b)

     137,213        4,655,637  

Southwest Airlines Co.(b)

     116,793        4,245,425  

United Airlines Holdings, Inc.(b)

     114,146        4,917,410  
     

 

 

 
     22,575,844  
     

 

 

 

Building Products-9.65%

 

A.O. Smith Corp.

     79,612        4,361,145  

Allegion PLC(c)

     44,980        4,712,555  

Carrier Global Corp.

     106,269        4,225,255  

Fortune Brands Home & Security, Inc.

     69,274        4,178,608  

Johnson Controls International PLC

     77,066        4,457,498  

Masco Corp.

     85,719        3,966,218  

Trane Technologies PLC

     27,354        4,366,519  
     

 

 

 
     30,267,798  
     

 

 

 

Commercial Services & Supplies-7.08%

 

Cintas Corp.

     10,389        4,441,817  

Copart, Inc.(b)

     38,597        4,439,427  

Republic Services, Inc.

     30,338        4,023,426  

Rollins, Inc.

     124,069        5,220,823  

Waste Management, Inc.

     25,843        4,092,756  
     

 

 

 
     22,218,249  
     

 

 

 

Construction & Engineering-1.38%

 

Quanta Services, Inc.

     30,534        4,337,049  
     

 

 

 

Electrical Equipment-6.53%

 

AMETEK, Inc.

     35,628        4,619,527  

Eaton Corp. PLC

     30,755        4,615,403  

Emerson Electric Co.

     52,902        4,581,313  

Generac Holdings, Inc.(b)

     18,828        2,182,353  

Rockwell Automation, Inc.

     17,549        4,480,260  
     

 

 

 
     20,478,856  
     

 

 

 

Industrial Conglomerates-4.48%

 

3M Co.

     36,405        4,579,385  
         Shares                Value        

Industrial Conglomerates-(continued)

 

General Electric Co.

     60,527      $ 4,709,606  

Honeywell International, Inc.

     23,378        4,769,579  
     

 

 

 
     14,058,570  
     

 

 

 

Machinery-24.74%

 

Caterpillar, Inc.

     23,650        5,119,279  

Cummins, Inc.

     20,512        5,015,389  

Deere & Co.

     12,038        4,764,881  

Dover Corp.

     34,614        4,523,704  

Fortive Corp.

     67,879        4,337,468  

IDEX Corp.

     21,335        4,742,984  

Illinois Tool Works, Inc.

     21,699        4,633,387  

Ingersoll Rand, Inc.(c)

     89,216        4,505,408  

Nordson Corp.

     19,129        4,304,025  

Otis Worldwide Corp.

     61,054        4,312,854  

PACCAR, Inc.

     50,649        4,904,343  

Parker-Hannifin Corp.

     16,063        4,668,229  

Pentair PLC

     95,106        4,084,803  

Snap-on, Inc.

     20,058        4,453,879  

Stanley Black & Decker, Inc.

     50,071        3,930,073  

Wabtec Corp.

     49,121        4,582,007  

Xylem, Inc.

     46,261        4,738,514  
     

 

 

 
     77,621,227  
     

 

 

 

Professional Services-8.28%

 

CoStar Group, Inc.(b)

     57,146        4,727,117  

Equifax, Inc.(c)

     22,730        3,853,644  

Jacobs Solutions, Inc.

     35,840        4,129,485  

Leidos Holdings, Inc.

     46,832        4,757,663  

Robert Half International, Inc.(c)

     55,690        4,258,058  

Verisk Analytics, Inc.

     23,335        4,266,338  
     

 

 

 
     25,992,305  
     

 

 

 

Road & Rail-6.65%

 

CSX Corp.

     137,338        3,991,042  

J.B. Hunt Transport Services, Inc.

     25,746        4,404,368  

Norfolk Southern Corp.

     17,935        4,090,436  

Old Dominion Freight Line, Inc.

     16,672        4,578,131  

Union Pacific Corp.

     19,327        3,810,125  
     

 

 

 
     20,874,102  
     

 

 

 

Trading Companies & Distributors-4.25%

 

Fastenal Co.

     87,527        4,230,180  

United Rentals, Inc.(b)

     14,403        4,547,171  

W.W. Grainger, Inc.

     7,825        4,572,539  
     

 

 

 
     13,349,890  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $338,404,357)

 

     313,724,758  
     

 

 

 

Money Market Funds-0.02%

 

Invesco Government & Agency Portfolio, Institutional Class,
3.07%(d)(e)
(Cost $72,927)

     72,927        72,927  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.00%
(Cost $338,477,284)

 

     313,797,685  
     

 

 

 

 

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

   
   

 

  22   

   
 


 

Invesco S&P 500® Equal Weight Industrials ETF (RGI)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-6.26%

 

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

     5,496,821      $ 5,496,821  

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

     14,130,740        14,130,740  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $19,626,791)

 

     19,627,561  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-106.26%
(Cost $358,104,075)

 

     333,425,246  

OTHER ASSETS LESS LIABILITIES-(6.26)%

 

     (19,646,345
     

 

 

 

NET ASSETS-100.00%

 

   $ 313,778,901  
     

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d) 

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

 

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

Investments in Affiliated Money Market Funds:

                                

Invesco Government & Agency Portfolio, Institutional Class

     $ 23,375      $ 2,968,597      $ (2,919,045 )     $ -      $ -     $ 72,927      $ 1,605

Investments Purchased with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

       11,480,647        65,582,252        (71,566,078 )       -        -       5,496,821        49,506 *

Invesco Private Prime Fund

       18,975,917        120,984,127        (125,829,371 )       770        (703 )       14,130,740        128,933 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

Total

     $ 30,479,939      $ 189,534,976      $ (200,314,494 )     $ 770      $ (703 )     $ 19,700,488      $ 180,044
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

 

*

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.

   
   

 

  23   

   
 


 

Invesco S&P 500® Equal Weight Industrials ETF (RGI)–(continued)

October 31, 2022

(Unaudited)

 

 Portfolio Composition

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

 as of October 31, 2022

 

Machinery

     24.74     

Aerospace & Defense

     14.87     

Building Products

     9.65     

Professional Services

     8.28                              

Airlines

     7.20     

Commercial Services & Supplies

     7.08     

Road & Rail

     6.65     

Electrical Equipment

     6.53     

Air Freight & Logistics

     4.87     

Industrial Conglomerates

     4.48     

Trading Companies & Distributors

     4.25     

Construction & Engineering

     1.38     

Money Market Funds Plus Other Assets Less Liabilities

     0.02     

 

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

   
   

 

  24   

   
 


 

Invesco S&P 500® Equal Weight Materials ETF (RTM)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.92%

 

Chemicals-58.23%

 

Air Products and Chemicals, Inc.

     51,773      $ 12,963,959  

Albemarle Corp.

     44,344        12,410,555  

Celanese Corp.

     115,393        11,091,575  

CF Industries Holdings, Inc.

     128,463        13,650,478  

Corteva, Inc.

     213,052        13,920,818  

Dow, Inc.

     263,377        12,310,241  

DuPont de Nemours, Inc.

     228,142        13,049,722  

Eastman Chemical Co.

     142,058        10,911,475  

Ecolab, Inc.

     77,059        12,103,657  

FMC Corp.

     118,186        14,052,315  

International Flavors & Fragrances, Inc.

     116,191        11,341,404  

Linde PLC (United Kingdom)(b)

     46,407        13,799,123  

LyondellBasell Industries N.V., Class A

     158,329        12,104,252  

Mosaic Co. (The)

     236,547        12,714,401  

PPG Industries, Inc.

     103,976        11,871,980  

Sherwin-Williams Co. (The)

     55,352        12,455,861  
     

 

 

 
     200,751,816  
     

 

 

 

Construction Materials-7.32%

 

Martin Marietta Materials, Inc.

     37,381        12,559,268  

Vulcan Materials Co.

     77,527        12,691,170  
     

 

 

 
     25,250,438  
     

 

 

 

Containers & Packaging-23.25%

 

Amcor PLC

     1,082,464        12,534,933  

Avery Dennison Corp.

     69,630        11,805,767  

Ball Corp.(b)

     224,227        11,074,572  

International Paper Co.

     318,863        10,716,985  

Packaging Corp. of America

     95,310        11,457,215  

Sealed Air Corp.

     240,519        11,453,515  

WestRock Co.

     325,989        11,103,185  
     

 

 

 
     80,146,172  
     

 

 

 
         Shares                Value        

Metals & Mining-11.12%

 

Freeport-McMoRan, Inc.

     414,089      $ 13,122,480  

Newmont Corp.

     308,534        13,057,159  

Nucor Corp.

     92,661        12,173,802  
     

 

 

 
     38,353,441  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $409,273,874)

 

     344,501,867  
     

 

 

 

Money Market Funds-0.03%

 

Invesco Government & Agency Portfolio,
Institutional Class, 3.07%(c)(d)
(Cost $94,673)

     94,673        94,673  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.95%
(Cost $409,368,547)

 

     344,596,540  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-7.37%

 

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

     7,117,518        7,117,518  

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

     18,297,537        18,297,537  
     

 

 

 

Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $25,415,217)

 

     25,415,055  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.32%
(Cost $434,783,764)

 

     370,011,595  

OTHER ASSETS LESS LIABILITIES-(7.32)%

 

     (25,248,102
     

 

 

 

NET ASSETS-100.00%

 

   $ 344,763,493  
     

 

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c) 

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

     $     137,092      $     6,215,910      $       (6,258,329)     $       -      $       -      $       94,673      $       2,614

 

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

   
   

 

  25   

   
 


 

Invesco S&P 500® Equal Weight Materials ETF (RTM)–(continued)

October 31, 2022

(Unaudited)

 

 

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

Investments Purchased with Cash Collateral from Securities
on Loan:

                                

Invesco Private Government Fund

     $ 3,860,545      $ 71,798,932      $ (68,541,959 )     $ -     $ -      $ 7,117,518      $ 66,429 *

Invesco Private Prime Fund

       9,001,641        173,754,271        (164,458,772 )       (162 )       559        18,297,537        179,813 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 12,999,278      $ 251,769,113      $ (239,259,060 )     $ (162 )     $ 559      $ 25,509,728      $ 248,856
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

 

*

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.

 

(d) 

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

(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 2I.

 Portfolio Composition

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

 as of October 31, 2022

Chemicals

   58.23                                 

Containers & Packaging

   23.25

Metals & Mining

   11.12

Construction Materials

     7.32

Money Market Funds Plus Other Assets Less Liabilities

     0.08

 

 

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

   
   

 

  26   

   
 


 

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares              Value        

Common Stocks & Other Equity Interests-99.96%

 

Equity REITs-96.74%

     

Alexandria Real Estate Equities, Inc.

     24,301      $ 3,530,935  

American Tower Corp.

     14,759        3,057,917  

AvalonBay Communities, Inc.

     17,985        3,149,533  

Boston Properties, Inc.

     44,970        3,269,319  

Camden Property Trust

     28,615        3,306,463  

Crown Castle, Inc.

     22,101        2,945,179  

Digital Realty Trust, Inc.

     31,004        3,108,151  

Equinix, Inc.

     5,871        3,325,569  

Equity Residential

     49,956        3,148,227  

Essex Property Trust, Inc.

     13,857        3,079,580  

Extra Space Storage, Inc.

     19,119        3,392,475  

Federal Realty Investment Trust

     37,120        3,674,138  

Healthpeak Properties, Inc.

     140,989        3,345,669  

Host Hotels & Resorts, Inc.

     211,500        3,993,120  

Invitation Homes, Inc.

     97,536        3,090,916  

Iron Mountain, Inc.(b)

     69,863        3,498,040  

Kimco Realty Corp.

     175,257        3,746,995  

Mid-America Apartment Communities, Inc.

     22,329        3,515,701  

Prologis, Inc.

     29,743        3,294,037  

Public Storage

     11,389        3,527,743  

Realty Income Corp.

     57,756        3,596,466  

Regency Centers Corp.

     61,948        3,748,474  

SBA Communications Corp., Class A

     11,672        3,150,273  

Simon Property Group, Inc.

     37,187        4,052,639  

UDR, Inc.

     80,419        3,197,460  

Ventas, Inc.

     77,768        3,043,062  

VICI Properties, Inc.

     114,421        3,663,760  

Vornado Realty Trust

     139,256        3,285,049  

Welltower, Inc.

     49,727        3,035,336  

Weyerhaeuser Co.

     111,422        3,446,283  
     

 

 

 
        101,218,509  
     

 

 

 
         Shares              Value        

Real Estate Management & Development-3.22%

 

CBRE Group, Inc., Class A(c)

     47,518      $ 3,370,927  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $133,881,449)

 

     104,589,436  
     

 

 

 

Money Market Funds-0.08%

 

Invesco Government & Agency Portfolio,
Institutional Class, 3.07%(d)(e)
(Cost $83,571)

     83,571        83,571  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from
securities on loan)-100.04%
(Cost $133,965,020)

 

     104,673,007  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-3.38%

 

  

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

     990,800        990,800  

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

     2,546,412        2,546,412  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $3,536,962)

 

     3,537,212  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-103.42%
(Cost $137,501,982)

 

     108,210,219  

OTHER ASSETS LESS LIABILITIES-(3.42)%

 

     (3,575,898
     

 

 

 

NET ASSETS-100.00%

 

   $ 104,634,321  
     

 

 

 

Investment Abbreviations:

REIT-Real Estate Investment Trust

Notes to Schedule of Investments:

(a) 

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

(b) 

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

(c) 

Non-income producing security.

(d) 

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

 

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

Investments in Affiliated Money

Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $     67,431      $    2,217,512      $   (2,201,372     $       -      $       -      $      83,571      $     493

 

 

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

   
   

 

  27   

   
 


 

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)–(continued)

October 31, 2022

(Unaudited)

 

    

Value
April 30, 2022

  

 Purchases 
at Cost

  

Proceeds
 from Sales 

 

Change in

Unrealized
Appreciation

  

Realized

Gain
(Loss)

 

Value
October 31, 2022

  

Dividend
Income

Investments Purchased with Cash

Collateral from Securities on Loan:

                                

Invesco Private Government Fund

     $ 2,756,763      $ 11,512,659      $ (13,278,622 )     $ -      $ -     $ 990,800      $ 13,290 *

Invesco Private Prime Fund

       6,428,598        24,664,904        (28,546,898 )       250        (442 )       2,546,412        35,040 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

Total

     $ 9,252,792      $ 38,395,075      $ (44,026,892 )     $ 250      $ (442 )     $ 3,620,783      $ 48,823
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

     

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f) 

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

Portfolio Composition

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

as of October 31, 2022

Equity REITs

   96.74                                 

Real Estate Management & Development

     3.22

Money Market Funds Plus Other Assets
Less Liabilities

     0.04

 

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

   
   

 

  28   

   
 


 

Invesco S&P 500® Equal Weight Technology ETF (RYT)

October 31, 2022

(Unaudited)

 

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.94%

 

Communications Equipment-7.01%

 

Arista Networks, Inc.(b)

     226,899      $      27,423,013  

Cisco Systems, Inc.

     616,734        28,018,225  

F5, Inc.(b)

     176,204        25,181,314  

Juniper Networks, Inc.(c)

     972,043        29,744,516  

Motorola Solutions, Inc.

     112,820        28,172,282  
     

 

 

 
         138,539,350  
     

 

 

 

Electronic Equipment, Instruments & Components-11.14%

 

Amphenol Corp., Class A

     371,907        28,201,708  

CDW Corp.

     160,780        27,784,392  

Corning, Inc.

     839,138        26,995,069  

Keysight Technologies, Inc.(b)

     163,780        28,522,287  

TE Connectivity Ltd. (Switzerland)

     218,760        26,739,035  

Teledyne Technologies, Inc.(b)

     72,817        28,979,710  

Trimble, Inc.(b)

     447,500        26,921,600  

Zebra Technologies Corp., Class A(b)

     91,689        25,968,158  
     

 

 

 
        220,111,959  
     

 

 

 

IT Services-25.86%

 

  

Accenture PLC, Class A

     97,150        27,580,885  

Akamai Technologies, Inc.(b)

     307,865        27,193,715  

Automatic Data Processing, Inc.

     115,547        27,927,710  

Broadridge Financial Solutions, Inc.

     163,733        24,569,774  

Cognizant Technology Solutions Corp., Class A

     430,893        26,823,089  

DXC Technology Co.(b)

     1,054,877        30,327,714  

EPAM Systems, Inc.(b)(c)

     65,280        22,848,000  

Fidelity National Information Services, Inc.

     308,574        25,608,556  

Fiserv, Inc.(b)

     265,150        27,241,511  

FleetCor Technologies, Inc.(b)

     128,034        23,829,688  

Gartner, Inc.(b)

     92,205        27,838,534  

Global Payments, Inc.(c)

     212,827        24,317,613  

International Business Machines Corp.

     218,494        30,215,535  

Jack Henry & Associates, Inc.

     140,977        28,062,882  

Mastercard, Inc., Class A

     84,049        27,583,201  

Paychex, Inc.

     222,559        26,330,955  

PayPal Holdings, Inc.(b)

     293,340        24,517,357  

VeriSign, Inc.(b)

     148,127        29,693,538  

Visa, Inc., Class A(c)

     137,560        28,496,930  
     

 

 

 
        511,007,187  
     

 

 

 

Semiconductors & Semiconductor Equipment-25.23%

 

Advanced Micro Devices, Inc.(b)

     330,350        19,840,821  

Analog Devices, Inc.

     183,093        26,112,724  

Applied Materials, Inc.

     292,490        25,823,942  

Broadcom, Inc.

     54,038        25,404,345  

Enphase Energy, Inc.(b)

     92,335        28,346,845  

Intel Corp.

     897,263        25,509,187  

KLA Corp.

     78,695        24,903,033  

Lam Research Corp.

     62,634        25,352,990  

Microchip Technology, Inc.

     421,572        26,027,855  

Micron Technology, Inc.(c)

     491,433        26,586,525  

Monolithic Power Systems, Inc.

     63,120        21,426,084  

NVIDIA Corp.

     196,209        26,482,329  

NXP Semiconductors N.V. (China)

     167,889        24,525,225  

ON Semiconductor Corp.(b)(c)

     393,855        24,194,513  

Qorvo, Inc.(b)

     301,822        25,980,838  

 

 

         Shares                Value        

Semiconductors & Semiconductor Equipment-(continued)

 

QUALCOMM, Inc.

     213,776      $ 25,152,884  

Skyworks Solutions, Inc.

     275,015        23,654,040  

SolarEdge Technologies, Inc.(b)(c)

     90,192        20,746,866  

Teradyne, Inc.(c)

     317,737        25,847,905  

Texas Instruments, Inc.

     165,335        26,557,761  
     

 

 

 
        498,476,712  
     

 

 

 

Software-22.88%

 

  

Adobe, Inc.(b)

     71,495        22,771,157  

ANSYS, Inc.(b)

     109,073        24,122,585  

Autodesk, Inc.(b)

     133,352        28,577,334  

Cadence Design Systems, Inc.(b)

     161,599        24,464,473  

Ceridian HCM Holding, Inc.(b)

     444,061        29,392,397  

Fortinet, Inc.(b)

     526,744        30,108,687  

Intuit, Inc.

     62,731        26,817,502  

Microsoft Corp.

     106,737        24,776,860  

NortonLifeLock, Inc.

     1,241,890        27,979,782  

Oracle Corp.(c)

     371,860        29,031,110  

Paycom Software, Inc.(b)

     76,251        26,382,846  

PTC, Inc.(b)

     235,290        27,724,221  

Roper Technologies, Inc.

     68,819        28,528,228  

salesforce.com, inc.(b)(c)

     173,618        28,228,551  

ServiceNow, Inc.(b)

     60,051        25,265,858  

Synopsys, Inc.(b)

     82,985        24,277,262  

Tyler Technologies, Inc.(b)

     73,289        23,696,532  
     

 

 

 
        452,145,385  
     

 

 

 

Technology Hardware, Storage & Peripherals-7.82%

 

  

Apple, Inc.

     179,374        27,505,209  

Hewlett Packard Enterprise Co.(c)

     2,101,867        29,993,642  

HP, Inc.(c)

     998,869        27,588,762  

NetApp, Inc.

     389,619        26,988,908  

Seagate Technology Holdings PLC(c)

     410,126        20,366,857  

Western Digital Corp.(b)

     644,485        22,150,950  
     

 

 

 
        154,594,328  
     

 

 

 

Total Common Stocks & Other Equity Interests (Cost $2,105,447,111)

 

     1,974,874,921  
     

 

 

 

Money Market Funds-0.07%

 

Invesco Government & Agency Portfolio,
Institutional Class, 3.07%(d)(e)
(Cost $1,449,262)

     1,449,262        1,449,262  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.01%
(Cost $2,106,896,373)

 

     1,976,324,183  
     

 

 

 
Investments Purchased with Cash Collateral
from Securities on Loan

 

  

Money Market Funds-7.91%

 

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

     43,309,201        43,309,201  

 

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

   
   

 

  29   

   
 


 

Invesco S&P 500® Equal Weight Technology ETF (RYT)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Money Market Funds-(continued)

 

  

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

     112,956,711      $ 112,956,711  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $156,259,582)

 

     156,265,912  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.92%
(Cost $2,263,155,955)

 

     2,132,590,095  

OTHER ASSETS LESS LIABILITIES-(7.92)%

 

     (156,523,826
     

 

 

 

NET ASSETS-100.00%

      $ 1,976,066,269  
     

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d) 

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

 

    

Value

April 30, 2022

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

Value
October 31, 2022

   Dividend
Income

Investments in Affiliated Money Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $ 360,687      $ 13,562,395      $ (12,473,820 )     $ -      $ -      $ 1,449,262      $ 6,701

Investments Purchased with Cash Collateral from Securities on Loan:

                                 

Invesco Private Government Fund

       32,615,774        238,077,801        (227,384,374 )       -        -        43,309,201        217,784 *

Invesco Private Prime Fund

       76,062,459        510,377,065        (473,498,392 )       703        14,876        112,956,711        600,468 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ 109,038,920      $ 762,017,261      $ (713,356,586 )     $ 703      $ 14,876      $ 157,715,174      $ 824,953
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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.

   
   

 

  30   

   
 


 

Invesco S&P 500® Equal Weight Technology ETF (RYT)–(continued)

October 31, 2022

(Unaudited)

 

Portfolio Composition

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

as of October 31, 2022

 

     

IT Services

     25.86                                           

Semiconductors & Semiconductor Equipment

     25.23     

Software

     22.88     

Electronic Equipment, Instruments & Components

     11.14     

Technology Hardware, Storage & Peripherals

     7.82     

Communications Equipment

     7.01     

Money Market Funds Plus Other Assets Less Liabilities

     0.06     

 

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

   
   

 

  31   

   
 


 

Invesco S&P 500® Equal Weight Utilities ETF (RYU)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value        

Common Stocks & Other Equity Interests-99.88%

 

Electric Utilities-57.47%

     

Alliant Energy Corp.

     233,506      $ 12,182,008  

American Electric Power Co., Inc.

     140,659        12,366,739  

Constellation Energy Corp.

     168,054        15,887,825  

Duke Energy Corp.

     133,816        12,468,975  

Edison International

     213,122        12,795,845  

Entergy Corp.

     122,599        13,135,257  

Evergy, Inc.

     209,596        12,812,603  

Eversource Energy

     160,456        12,239,584  

Exelon Corp.

     321,279        12,398,157  

FirstEnergy Corp.

     354,232        13,358,089  

NextEra Energy, Inc.

     163,570        12,676,675  

NRG Energy, Inc.

     339,679        15,081,748  

PG&E Corp.(b)(c)

     1,127,855        16,838,875  

Pinnacle West Capital Corp.

     191,152        12,847,326  

PPL Corp.

     492,593        13,048,789  

Southern Co. (The)

     184,901        12,107,317  

Xcel Energy, Inc.

     191,311        12,456,259  
     

 

 

 
        224,702,071  
     

 

 

 

Gas Utilities-3.39%

     

Atmos Energy Corp.

     124,509        13,266,434  
     

 

 

 

Independent Power and Renewable Electricity Producers-3.59%

 

AES Corp. (The)

     536,903        14,045,382  
     

 

 

 

Multi-Utilities-31.90%

     

Ameren Corp.

     153,776        12,535,820  

CenterPoint Energy, Inc.

     447,608        12,806,065  

CMS Energy Corp.

     210,849        12,028,935  

Consolidated Edison, Inc.

     145,799        12,824,480  

Dominion Energy, Inc.

     177,087        12,390,777  

DTE Energy Co.

     108,524        12,166,626  

NiSource, Inc.

     483,487        12,420,782  

Public Service Enterprise Group, Inc.

     216,566        12,142,856  

Sempra Energy

     84,615        12,771,788  

WEC Energy Group, Inc.

     138,149        12,617,148  
     

 

 

 
        124,705,277  
     

 

 

 
         Shares                Value        

Water Utilities-3.53%

     

American Water Works Co., Inc.

     94,919      $ 13,795,527  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $402,682,493)

 

     390,514,691  
     

 

 

 

Money Market Funds-0.01%

 

  

Invesco Government & Agency Portfolio, Institutional Class, 3.07%(d)(e)
(Cost $24,776)

     24,776        24,776  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.89%
(Cost $402,707,269)

 

     390,539,467  
     

 

 

 

Investments Purchased with Cash Collateral

from Securities on Loan

 

 

Money Market Funds-4.52%

 

  

Invesco Private Government Fund,

3.18%(d)(e)(f)

     4,952,650        4,952,650  

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

     12,732,578        12,732,578  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $17,685,186)

 

     17,685,228  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-104.41%
(Cost $420,392,455)

 

     408,224,695  

OTHER ASSETS LESS LIABILITIES-(4.41)%

 

     (17,236,419
     

 

 

 

NET ASSETS-100.00%

      $ 390,988,276  
     

 

 

 

Notes to Schedule of Investments:

(a)

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

(b)

Non-income producing security.

(c)

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

(d)

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

 

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

Investments in Affiliated Money

Market Funds:

                                 

Invesco Government & Agency Portfolio, Institutional Class

     $ 47,578      $       5,731,200      $ (5,754,002 )       $    -        $    -      $ 24,776      $ 2,684

 

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

   
   

 

  32   

   
 


 

Invesco S&P 500® Equal Weight Utilities ETF (RYU)–(continued)

October 31, 2022

(Unaudited)

 

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

Investments Purchased with
Cash Collateral from Securities
on Loan:

                                 

Invesco Private Government Fund

     $ 2,860,309      $ 36,912,744      $ (34,820,403 )     $ -      $ -      $ 4,952,650      $ 54,839 *

Invesco Private Prime Fund

       6,674,440        93,639,740        (87,581,700 )       42        56        12,732,578        149,415 *
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

Total

     $ 9,582,327      $ 136,283,684      $ (128,156,105 )     $ 42      $ 56      $ 17,710,004      $ 206,938
    

 

 

      

 

 

      

 

 

     

 

 

      

 

 

      

 

 

      

 

 

 

 

*

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

 

(e) 

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

(f)

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

Portfolio Composition

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

as of October 31, 2022

 

     

Electric Utilities

     57.47          

Multi-Utilities

     31.90     

Independent Power and Renewable

Electricity Producers

     3.59     

Water Utilities

     3.53     

Gas Utilities

     3.39     

Money Market Funds Plus Other Assets
Less Liabilities

     0.12     

 

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

   
   

 

  33   

   
 


 

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)

October 31, 2022

(Unaudited)

Schedule of Investments(a)

 

         Shares          Value  

Common Stocks & Other Equity Interests-99.91%

 

Communication Services-2.22%

 

  

Cable One, Inc.(b)

     273      $       234,624  

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

     11,008        257,807  

Iridium Communications, Inc.(c)

     6,632        341,747  

John Wiley & Sons, Inc., Class A

     6,558        276,682  

New York Times Co. (The), Class A(b)

     9,419        272,774  

TEGNA, Inc.

     13,775        287,622  

TripAdvisor, Inc.(b)(c)

     11,851        279,921  

World Wrestling Entertainment, Inc.,

     

Class A(b)

     4,376        345,223  

Ziff Davis, Inc.(b)(c)

     3,821        295,707  
     

 

 

 
         2,592,107  
     

 

 

 

Consumer Discretionary-15.33%

     

Adient PLC(b)(c)

     8,754        306,215  

AutoNation, Inc.(b)(c)

     2,547        270,772  

Boyd Gaming Corp.

     5,273        304,568  

Brunswick Corp.(b)

     4,023        284,305  

Capri Holdings Ltd.(c)

     6,133        280,155  

Carter’s, Inc.(b)

     3,900        264,693  

Choice Hotels International, Inc.(b)

     2,582        335,247  

Churchill Downs, Inc.

     1,440        299,390  

Columbia Sportswear Co.(b)

     4,027        300,011  

Cracker Barrel Old Country Store, Inc.(b)

     2,674        305,424  

Crocs, Inc.(b)(c)

     3,714        262,766  

Dana, Inc.

     19,681        314,109  

Deckers Outdoor Corp.(c)

     858        300,240  

Dick’s Sporting Goods, Inc.

     2,567        292,022  

Five Below, Inc.(b)(c)

     2,098        307,042  

Foot Locker, Inc.(b)

     7,800        247,260  

Fox Factory Holding Corp.(b)(c)

     3,170        278,484  

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

     10,351        293,037  

Gap, Inc. (The)

     30,144        339,723  

Gentex Corp.

     10,948        290,013  

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

     21,352        271,170  

Graham Holdings Co., Class B

     541        337,514  

Grand Canyon Education, Inc.(c)

     3,600        362,268  

H&R Block, Inc.(b)

     6,654        273,812  

Hanesbrands, Inc.(b)

     32,643        222,625  

Harley-Davidson, Inc.

     7,288        313,384  

Helen of Troy Ltd.(b)(c)

     2,460        232,765  

KB Home

     10,136        292,120  

Kohl’s Corp.

     9,748        291,953  

Lear Corp.

     2,127        295,036  

Leggett & Platt, Inc.(b)

     7,726        260,753  

Light & Wonder, Inc.(c)

     5,899        331,170  

Lithia Motors, Inc., Class A(b)

     1,164        230,647  

Macy’s, Inc.

     16,437        342,711  

Marriott Vacations Worldwide Corp.(b)

     2,053        303,351  

Mattel, Inc.(c)

     12,722        241,209  

Murphy USA, Inc.

     1,034        325,203  

Nordstrom, Inc.(b)

     15,429        313,826  

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

     5,135        287,560  

Papa John’s International, Inc.(b)

     3,542        257,255  

PENN Entertainment, Inc.(b)(c)

     9,219        305,149  

Polaris, Inc.(b)

     2,653        269,545  

PVH Corp.

     4,940        253,521  

RH(b)(c)

     1,095        278,053  
         Shares                Value        

Consumer Discretionary-(continued)

 

Service Corp. International

     4,737      $ 287,110  

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

     7,863        270,723  

Taylor Morrison Home Corp., Class A(c)

     11,902        313,499  

Tempur Sealy International, Inc.

     10,745        288,933  

Texas Roadhouse, Inc.

     3,282        324,754  

Thor Industries, Inc.(b)

     3,676        299,484  

Toll Brothers, Inc.

     6,602        284,414  

TopBuild Corp.(c)

     1,607        273,415  

Topgolf Callaway Brands Corp.(b)(c)

     12,998        243,323  

Travel + Leisure Co.

     6,859        260,505  

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

     17,164        127,872  

Under Armour, Inc., Class C(c)

     18,156        119,103  

Victoria’s Secret & Co.(b)(c)

     8,674        326,142  

Visteon Corp.(c)

     2,353        306,996  

Wendy’s Co. (The)

     14,580        302,972  

Williams-Sonoma, Inc.

     1,991        246,546  

Wingstop, Inc.

     2,054        325,333  

Wyndham Hotels & Resorts, Inc.

     4,353        330,523  

YETI Holdings, Inc.(b)(c)

     7,748        248,556  
     

 

 

 
        17,948,279  
     

 

 

 

Consumer Staples-4.53%

     

BellRing Brands, Inc.(b)(c)

     12,008        290,834  

BJ’s Wholesale Club Holdings, Inc.(c)

     3,793        293,578  

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

     874        326,255  

Casey’s General Stores, Inc.

     1,354        315,089  

Celsius Holdings, Inc.(b)(c)

     2,825        257,301  

Coca-Cola Consolidated, Inc.

     663        322,888  

Coty,Inc., Class A(c)

     38,084        255,544  

Darling Ingredients, Inc.(c)

     3,838        301,206  

Energizer Holdings, Inc.(b)

     10,496        303,229  

Flowers Foods, Inc.

     11,211        321,868  

Grocery Outlet Holding Corp.(b)(c)

     7,822        270,407  

Ingredion, Inc.

     3,491        311,118  

Lancaster Colony Corp.(b)

     1,734        312,605  

Nu Skin Enterprises, Inc., Class A

     7,393        282,339  

Performance Food Group Co.(c)

     5,763        299,907  

Pilgrim’s Pride Corp.(c)

     10,858        250,277  

Post Holdings, Inc.(c)

     3,354        303,269  

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

     9,773        288,303  
     

 

 

 
        5,306,017  
     

 

 

 

Energy-3.57%

     

Antero Midstream Corp.(b)

     29,462        313,770  

Antero Resources Corp.(c)

     8,408        308,237  

ChampionX Corp.(b)

     13,275        379,930  

CNX Resources Corp.(b)(c)

     17,423        292,881  

DT Midstream, Inc.

     5,233        312,410  

Equitrans Midstream Corp.

     31,711        267,007  

HF Sinclair Corp.

     5,634        344,632  

Matador Resources Co.

     5,133        341,088  

Murphy Oil Corp.

     7,516        364,601  

NOV, Inc.

     17,085        382,704  

PDC Energy, Inc.

     4,532        326,938  

Range Resources Corp.

     9,622        274,035  

Southwestern Energy Co.(c)

     39,128        271,157  
     

 

 

 
        4,179,390  
     

 

 

 

 

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

   
   

 

  34   

   
 


 

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Financials-16.16%

     

Affiliated Managers Group, Inc.

     2,259      $ 280,477  

American Financial Group, Inc.

     2,269        329,255  

Annaly Capital Management, Inc.(b)

     11,252        208,725  

Associated Banc-Corp

     14,481        352,612  

Bank of Hawaii Corp.(b)

     3,768        286,180  

Bank OZK

     7,097        305,029  

Bread Financial Holdings, Inc.

     7,514        271,330  

Brighthouse Financial, Inc.(c)

     5,901        336,770  

Cadence Bank(b)

     11,443        316,399  

Cathay General Bancorp

     7,102        323,851  

CNO Financial Group, Inc.

     15,713        346,629  

Commerce Bancshares, Inc.

     4,230        299,653  

Cullen/Frost Bankers, Inc.

     2,148        333,047  

East West Bancorp, Inc.

     3,977        284,634  

Essent Group Ltd.

     7,359        291,269  

Evercore, Inc., Class A

     3,033        318,768  

F.N.B. Corp.(b)

     24,780        358,071  

Federated Hermes, Inc., Class B

     8,443        293,394  

First American Financial Corp.

     5,557        280,073  

First Financial Bankshares, Inc.(b)

     6,978        268,583  

First Horizon Corp.

     12,880        315,689  

FirstCash Holdings, Inc.(b)

     3,743        368,498  

Fulton Financial Corp.

     18,276        333,171  

Glacier Bancorp, Inc.

     5,814        333,026  

Hancock Whitney Corp.

     5,979        334,047  

Hanover Insurance Group, Inc. (The)

     2,288        335,169  

Home BancShares, Inc.(b)

     12,706        323,876  

Interactive Brokers Group, Inc., Class A

     4,333        347,290  

International Bancshares Corp.

     7,129        353,598  

Janus Henderson Group PLC

     11,902        271,009  

Jefferies Financial Group, Inc.

     8,789        302,429  

Kemper Corp.(b)

     6,154        293,361  

Kinsale Capital Group, Inc.(b)

     1,233        388,605  

MGIC Investment Corp.

     20,701        282,569  

Navient Corp.

     20,626        312,278  

New York Community Bancorp,
Inc.(b)

     30,144        280,641  

Old National Bancorp

     17,588        344,021  

Old Republic International Corp.

     13,339        309,598  

PacWest Bancorp

     11,115        276,319  

Pinnacle Financial Partners, Inc.

     3,610        299,594  

Primerica, Inc.(b)

     2,334        337,730  

Prosperity Bancshares, Inc.

     4,209        301,238  

Reinsurance Group of America, Inc.

     2,315        340,699  

RenaissanceRe Holdings Ltd. (Bermuda)(b)

     2,110        326,375  

RLI Corp.

     2,652        344,946  

SEI Investments Co.

     5,290        287,247  

Selective Insurance Group, Inc.

     3,637        356,717  

SLM Corp.

     18,945        314,298  

Stifel Financial Corp.

     4,902        303,287  

Synovus Financial Corp.

     7,207        287,199  

Texas Capital Bancshares, Inc.(c)

     4,925        295,500  

UMB Financial Corp.

     3,313        275,708  

Umpqua Holdings Corp.

     16,457        327,165  

United Bankshares, Inc.(b)

     8,158        345,491  

Unum Group

     7,645        348,536  

Valley National Bancorp

     25,070        297,581  

Voya Financial, Inc.(b)

     4,718        322,522  

Washington Federal, Inc.

     9,355        362,038  
         Shares                Value        

Financials-(continued)

     

Webster Financial Corp.

     6,165      $ 334,513  

Wintrust Financial Corp.

     3,411        319,338  
     

 

 

 
        18,917,665  
     

 

 

 

Health Care-10.05%

     

Acadia Healthcare Co., Inc.(c)

     3,579        290,973  

Amedisys, Inc.(c)

     2,436        237,729  

Arrowhead Pharmaceuticals, Inc.(b)(c)

     7,760        270,126  

Azenta, Inc.(b)

     5,579        247,708  

Bruker Corp.

     5,136        317,610  

Chemed Corp.

     628        293,194  

Encompass Health Corp.

     5,735        312,213  

Enovis Corp.(b)(c)

     5,806        287,107  

Envista Holdings Corp.(b)(c)

     7,899        260,746  

Exelixis, Inc.(c)

     16,722        277,251  

Globus Medical, Inc., Class A(b)(c)

     4,766        319,322  

Haemonetics Corp.(b)(c)

     3,894        330,795  

Halozyme Therapeutics, Inc.(b)(c)

     7,231        345,714  

HealthEquity, Inc.(b)(c)

     4,472        348,414  

ICU Medical, Inc.(b)(c)

     1,735        257,491  

Inari Medical, Inc.(b)(c)

     3,875        298,104  

Integra LifeSciences Holdings
Corp.(c)

     6,036        303,309  

Jazz Pharmaceuticals PLC(c)

     1,992        286,430  

Lantheus Holdings, Inc.(c)

     4,021        297,514  

LHC Group, Inc.(c)

     1,830        305,793  

LivaNova PLC(b)(c)

     5,186        244,261  

Masimo Corp.(c)

     1,916        252,146  

Medpace Holdings, Inc.(b)(c)

     1,835        407,333  

Neogen Corp.(c)

     16,216        214,051  

Neurocrine Biosciences, Inc.(c)

     2,810        323,487  

NuVasive, Inc.(c)

     6,417        283,182  

Omnicell, Inc.(c)

     2,841        219,666  

Option Care Health, Inc.(c)

     9,021        272,975  

Patterson Cos., Inc.

     11,030        286,449  

Penumbra, Inc.(b)(c)

     1,453        249,146  

Perrigo Co. PLC(b)

     7,647        308,021  

Progyny, Inc.(b)(c)

     6,949        309,022  

QuidelOrtho Corp.(c)

     3,482        312,753  

R1 RCM, Inc.(c)

     13,441        237,368  

Repligen Corp.(c)

     1,281        233,770  

Shockwave Medical, Inc.(b)(c)

     1,042        305,462  

Sotera Health Co.(c)

     19,116        131,518  

STAAR Surgical Co.(b)(c)

     3,092        219,130  

Syneos Health, Inc.(c)

     4,831        243,386  

Tandem Diabetes Care, Inc.(b)(c)

     5,347        300,234  

Tenet Healthcare Corp.(c)

     4,831        214,303  

United Therapeutics Corp.(c)

     1,340        308,910  
     

 

 

 
        11,764,116  
     

 

 

 

Industrials-17.74%

     

Acuity Brands, Inc.

     1,744        320,146  

AECOM

     3,983        299,840  

AGCO Corp.

     2,639        327,685  

ASGN, Inc.(c)

     3,068        260,105  

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

     1,802        426,101  

Axon Enterprise, Inc.(c)

     2,410        350,510  

Brink’s Co. (The)

     5,379        320,750  

Builders FirstSource, Inc.(c)

     4,894        301,764  

CACI International, Inc., Class A(c)

     1,068        324,704  

Carlisle Cos., Inc.

     970        231,636  

Chart Industries, Inc.(b)(c)

     1,492        332,537  

 

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

   
   

 

  35   

   
 


 

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares                Value        

Industrials-(continued)

     

Clean Harbors, Inc.(c)

     2,444      $ 299,292  

Crane Holdings Co.

     3,131        314,165  

Curtiss-Wright Corp.

     1,974        331,296  

Donaldson Co., Inc.

     5,671        325,799  

Dycom Industries, Inc.(c)

     2,638        311,759  

EMCOR Group, Inc.

     2,453        346,118  

EnerSys

     4,590        304,271  

Esab Corp.

     7,318        272,961  

Flowserve Corp.(b)

     9,521        273,062  

Fluor Corp.(b)(c)

     10,753        325,386  

FTI Consulting, Inc.(b)(c)

     1,911        297,409  

GATX Corp.(b)

     3,116        326,276  

Graco, Inc.

     4,523        314,710  

GXO Logistics, Inc.(b)(c)

     6,447        235,573  

Hexcel Corp.

     4,921        274,100  

Hubbell, Inc.

     1,337        317,511  

IAA, Inc.(c)

     8,314        315,350  

Insperity, Inc.(b)

     2,657        313,579  

ITT, Inc.

     3,954        302,046  

JetBlue Airways Corp.(c)

     36,197        291,024  

KBR, Inc.

     6,149        306,036  

Kennametal, Inc.(b)

     12,536        334,837  

Kirby Corp.(c)

     4,338        302,576  

Knight-Swift Transportation Holdings, Inc.

     5,881        282,464  

Landstar System, Inc.

     2,072        323,688  

Lennox International, Inc.

     1,159        270,708  

Lincoln Electric Holdings, Inc.

     2,146        304,732  

ManpowerGroup, Inc.

     4,021        315,005  

MasTec, Inc.(c)

     3,628        279,646  

MDU Resources Group, Inc.

     9,786        278,705  

Mercury Systems, Inc.(b)(c)

     6,318        305,791  

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

     1,985        277,622  

MSA Safety, Inc.

     2,440        327,546  

MSC Industrial Direct Co., Inc., Class A

     3,734        309,847  

nVent Electric PLC

     8,495        310,068  

Oshkosh Corp.

     3,635        319,880  

Owens Corning

     3,419        292,701  

Regal Rexnord Corp.

     2,066        261,432  

Ryder System, Inc.

     3,845        309,561  

Saia, Inc.(b)(c)

     1,481        294,512  

Science Applications International Corp.

     3,163        342,679  

Simpson Manufacturing Co., Inc.

     3,310        282,939  

Stericycle, Inc.(c)

     5,839        260,303  

SunPower Corp.(b)(c)

     10,641        196,752  

Sunrun, Inc.(b)(c)

     7,786        175,263  

Terex Corp.

     8,406        340,779  

Tetra Tech, Inc.

     2,138        302,057  

Timken Co. (The)

     4,436        316,242  

Toro Co. (The)(b)

     3,376        355,932  

Trex Co., Inc.(b)(c)

     6,019        289,454  

Univar Solutions, Inc.(c)

     11,373        289,784  

Valmont Industries, Inc.

     1,066        340,289  

Vicor Corp.(b)(c)

     4,355        208,038  

Watsco, Inc.(b)

     1,046        283,424  

Watts Water Technologies, Inc., Class A

     2,154        315,259  

Werner Enterprises, Inc.

     7,562        296,430  

Woodward, Inc.

     3,097        283,995  

XPO Logistics, Inc.(b)(c)

     5,557        287,519  
     

 

 

 
        20,761,960  
     

 

 

 
         Shares                Value        

Information Technology-12.68%

     

ACI Worldwide, Inc.(c)

     13,158      $ 320,134  

Amkor Technology, Inc.(b)

     15,272        317,505  

Arrow Electronics, Inc.(c)

     2,872        290,819  

Aspen Technology, Inc.(b)(c)

     1,353        326,682  

Avnet, Inc.

     7,010        281,732  

Belden, Inc.

     4,537        315,911  

Blackbaud, Inc.(b)(c)

     5,885        321,909  

Calix, Inc.(c)

     5,231        385,211  

Ciena Corp.(b)(c)

     6,752        323,421  

Cirrus Logic, Inc.(b)(c)

     3,968        266,332  

Cognex Corp.

     6,625        306,274  

Coherent Corp.(b)(c)

     6,767        227,439  

CommVault Systems, Inc.(c)

     5,644        343,663  

Concentrix Corp.

     2,332        285,040  

Dynatrace, Inc.(b)(c)

     7,348        258,944  

Envestnet, Inc.(b)(c)

     5,621        277,172  

Euronet Worldwide, Inc.(c)

     3,265        274,293  

ExlService Holdings, Inc.(b)(c)

     1,732        314,964  

Fair Isaac Corp.(c)

     663        317,471  

First Solar, Inc.(c)

     2,237        325,640  

Genpact Ltd.

     6,416        311,176  

IPG Photonics Corp.(b)(c)

     3,247        278,138  

Jabil, Inc.

     4,929        316,688  

Kyndryl Holdings, Inc.(c)

     27,238        263,391  

Lattice Semiconductor Corp.(c)

     5,416        262,730  

Littelfuse, Inc.(b)

     1,292        284,563  

Lumentum Holdings, Inc.(b)(c)

     3,685        274,348  

MACOM Technology Solutions Holdings, Inc.(b)(c)

     5,241        303,297  

Manhattan Associates, Inc.(c)

     2,061        250,762  

Maximus, Inc.

     4,904        302,430  

MKS Instruments, Inc.

     2,984        245,136  

National Instruments Corp.

     7,388        282,074  

NCR Corp.(b)(c)

     9,315        198,037  

Novanta, Inc.(b)(c)

     2,221        314,049  

Paylocity Holding Corp.(b)(c)

     1,158        268,413  

Power Integrations, Inc.(b)

     4,263        284,385  

Qualys, Inc.(c)

     1,872        266,872  

Sabre Corp.(b)(c)

     44,811        260,352  

Semtech Corp.(b)(c)

     8,596        238,023  

Silicon Laboratories, Inc.(b)(c)

     2,348        269,832  

SiTime Corp.(b)(c)

     2,938        263,862  

Synaptics, Inc.(b)(c)

     2,448        216,893  

TD SYNNEX Corp.

     3,108        284,413  

Teradata Corp.(b)(c)

     9,183        290,091  

Universal Display Corp.

     2,770        263,759  

Viasat, Inc.(b)(c)

     8,014        328,253  

Vishay Intertechnology, Inc.

     15,336        320,676  

Vontier Corp.

     13,725        262,147  

Western Union Co. (The)(b)

     20,076        271,227  

WEX, Inc.(b)(c)

     1,888        309,896  

Wolfspeed, Inc.(b)(c)

     2,622        206,483  

Xerox Holdings Corp.

     18,276        267,378  
     

 

 

 
        14,840,330  
     

 

 

 

Materials-6.40%

     

Alcoa Corp.

     5,689        222,042  

AptarGroup, Inc.

     2,813        278,909  

Ashland, Inc.

     2,929        307,311  

Avient Corp.

     6,906        238,188  

 

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

   
   

 

  36   

   
 


 

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares            Value    

Materials-(continued)

     

Cabot Corp.

     4,086      $       300,239  

Chemours Co. (The)(b)

     8,378        239,862  

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

     15,981        207,593  

Commercial Metals Co.

     7,176        326,508  

Eagle Materials, Inc.(b)

     2,473        302,473  

Greif, Inc., Class A

     4,380        290,000  

Ingevity Corp.(b)(c)

     4,257        286,368  

Louisiana-Pacific Corp.(b)

     5,384        305,004  

MP Materials Corp.(b)(c)

     8,832        265,313  

NewMarket Corp.

     986        300,079  

Olin Corp.

     5,403        286,089  

Reliance Steel & Aluminum Co.

     1,518        305,847  

Royal Gold, Inc.

     3,116        295,895  

RPM International, Inc.

     3,123        295,342  

Scotts Miracle-Gro Co. (The)(b)

     5,170        237,355  

Sensient Technologies Corp.

     3,754        268,261  

Silgan Holdings, Inc.

     6,281        297,468  

Sonoco Products Co.

     4,626        287,182  

Steel Dynamics, Inc.

     3,460        325,413  

United States Steel Corp.

     11,870        241,673  

Valvoline, Inc.

     10,358        304,111  

Westlake Corp.(b)

     2,096        202,578  

Worthington Industries, Inc.(b)

     5,752        273,565  
     

 

 

 
         7,490,668  
     

 

 

 

Real Estate-7.42%

     

Apartment Income REIT Corp.

     6,982        268,318  

Brixmor Property Group, Inc.

     13,262        282,613  

Corporate Office Properties Trust

     11,284        300,719  

Cousins Properties, Inc.

     10,532        250,240  

Douglas Emmett, Inc.

     14,081        247,685  

EastGroup Properties, Inc.

     1,753        274,678  

EPR Properties

     6,841        264,063  

First Industrial Realty Trust, Inc.

     5,644        268,824  

Healthcare Realty Trust, Inc.

     12,164        247,294  

Highwoods Properties, Inc.

     9,554        269,709  

Independence Realty Trust, Inc.(b)

     14,826        248,484  

JBG SMITH Properties

     13,418        264,066  

Jones Lang LaSalle, Inc.(c)

     1,702        270,771  

Kilroy Realty Corp.

     5,923        253,149  

Kite Realty Group Trust(b)

     15,081        296,191  

Lamar Advertising Co., Class A

     3,047        281,025  

Life Storage, Inc.

     2,330        257,721  

Macerich Co. (The)(b)

     30,359        337,896  

Medical Properties Trust, Inc.(b)

     20,158        230,809  

National Retail Properties, Inc.

     6,619        278,196  

National Storage Affiliates Trust

     5,818        248,196  

Omega Healthcare Investors, Inc.

     9,159        291,073  

Park Hotels & Resorts, Inc.

     20,474        267,800  

Pebblebrook Hotel Trust

     16,384        262,799  

Physicians Realty Trust(b)

     17,465        263,023  

PotlatchDeltic Corp.(b)

     6,293        279,975  

Rayonier, Inc.(b)

     8,348        281,328  

Rexford Industrial Realty, Inc.

     4,613        255,007  

 

Investment Abbreviations:

REIT -Real Estate Investment Trust

         Shares            Value    

Real Estate-(continued)

     

Sabra Health Care REIT, Inc.(b)

     20,076      $ 274,238  

SL Green Realty Corp.

     6,198        245,937  

Spirit Realty Capital, Inc.

     7,193        279,304  

STORE Capital Corp.

     10,922        347,320  
     

 

 

 
        8,688,451  
     

 

 

 

Utilities-3.81%

     

ALLETE, Inc.

     4,907        276,117  

Black Hills Corp.

     3,824        249,975  

Essential Utilities, Inc.

     6,262        276,906  

Hawaiian Electric Industries, Inc.

     7,484        284,691  

IDACORP, Inc.

     2,695        282,167  

National Fuel Gas Co.

     4,204        283,728  

New Jersey Resources Corp.

     6,758        301,677  

NorthWestern Corp.

     5,423        286,497  

OGE Energy Corp.

     7,152        261,978  

ONE Gas, Inc.

     3,707        287,218  

Ormat Technologies, Inc.(b)

     3,101        280,485  

PNM Resources, Inc.

     6,403        297,547  

Portland General Electric Co.(b)

     5,740        257,956  

Southwest Gas Holdings, Inc.

     3,645        266,340  

Spire, Inc.

     4,258        297,251  

UGI Corp.

     7,538        266,318  
     

 

 

 
        4,456,851  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $117,773,711)

 

     116,945,834  
     

 

 

 

Money Market Funds-0.08%

 

Invesco Government & Agency Portfolio,
Institutional Class, 3.07%(d)(e)
(Cost $96,893)

     96,893        96,893  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.99%
(Cost $117,870,604)

 

     117,042,727  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-30.06%

 

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

     9,854,113        9,854,113  

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

     25,332,402        25,332,402  
     

 

 

 

Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $35,187,052)

 

     35,186,515  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-130.05%
(Cost $153,057,656)

 

     152,229,242  

OTHER ASSETS LESS LIABILITIES-(30.05)%

 

     (35,174,722
     

 

 

 

NET ASSETS-100.00%

      $ 117,054,520  
     

 

 

 

 

 

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

   
   

 

  37   

   
 


 

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)–(continued)

October 31, 2022

(Unaudited)

 

Notes to Schedule of Investments:

(a)

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

(b)

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

(c)

Non-income producing security.

(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

     $ 68,915      $ 2,049,445      $ (2,021,467 )     $ -     $ -      $ 96,893      $ 687

Investments Purchased with Cash Collateral from Securities on Loan:

                                

Invesco Private Government Fund

       8,211,304        20,584,089        (18,941,280 )       -       -        9,854,113        75,035 *

Invesco Private Prime Fund

       19,147,838        48,441,471        (42,257,188 )       (2,861 )       3,142        25,332,402        204,147 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 

Total

     $ 27,428,057      $ 71,075,005      $ (63,219,935 )     $ (2,861 )     $ 3,142      $ 35,283,408      $ 279,869
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

      

 

 

      

 

 

 
*

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

 

(e) 

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

 

(f) 

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

Portfolio Composition

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

as of October 31, 2022

     

Industrials

    17.74     

Financials

    16.16     

Consumer Discretionary

    15.33     

Information Technology

    12.68     

Health Care

    10.05     

Real Estate

    7.42                                

Materials

    6.40     

Consumer Staples

    4.53     

Utilities

    3.81     

Energy

    3.57     

Communication Services

    2.22     

Money Market Funds Plus Other Assets Less Liabilities

    0.09     

 

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

   
   

 

  38   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)

October 31, 2022

(Unaudited)

 

Schedule of Investments(a)

 

         Shares              Value        

Common Stocks & Other Equity Interests-99.97%

 

Communication Services-2.82%

 

AMC Networks, Inc., Class A(b)

     3,299      $ 74,260  

ATN International, Inc.

     1,944        83,825  

Cars.com, Inc.(b)(c)

     7,061        98,007  

Cinemark Holdings, Inc.(b)(c)

     5,931        62,928  

Cogent Communications Holdings, Inc.(c)

     1,558        81,811  

Consolidated Communications Holdings, Inc.(b)(c)

     14,213        73,481  

E.W. Scripps Co. (The), Class A(b)(c)

     5,728        81,280  

Gannett Co., Inc.(b)(c)

     36,890        53,491  

Gogo, Inc.(b)

     6,098        86,714  

Marcus Corp. (The)(c)

     5,027        75,606  

QuinStreet, Inc.(b)(c)

     7,340        83,749  

Scholastic Corp.

     1,847        70,445  

Shenandoah Telecommunications Co.

     3,937        89,212  

Shutterstock, Inc.(c)

     1,446        72,343  

TechTarget, Inc.(b)(c)

     1,274        82,237  

Telephone & Data Systems, Inc.

     5,136        87,312  

Thryv Holdings, Inc.(b)(c)

     3,198        65,431  

Yelp, Inc.(b)

     2,359        90,609  
     

 

 

 
        1,412,741  
     

 

 

 

Consumer Discretionary-15.04%

     

Aaron’s Co., Inc. (The)

     6,828        71,148  

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

     5,165        90,801  

Academy Sports & Outdoors, Inc.(c)

     1,684        74,147  

Adtalem Global Education, Inc.(b)

     2,221        92,616  

American Axle & Manufacturing Holdings, Inc.(b)

     8,622        83,547  

American Eagle Outfitters, Inc.(c)

     7,811        88,733  

America’s Car-Mart, Inc.(b)(c)

     1,072        73,282  

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

     489        77,140  

Bed Bath & Beyond, Inc.(b)(c)

     9,378        42,857  

Big Lots, Inc.(c)

     3,635        68,592  

BJ’s Restaurants, Inc.(b)(c)

     3,090        101,506  

Bloomin’ Brands, Inc.

     3,981        95,584  

Boot Barn Holdings, Inc.(b)(c)

     1,188        67,478  

Brinker International, Inc.(b)(c)

     2,815        93,993  

Buckle, Inc. (The)(c)

     2,456        96,594  

Caleres, Inc.(c)

     3,247        88,741  

Cato Corp. (The), Class A

     8,616        102,617  

Cavco Industries, Inc.(b)

     368        83,415  

Century Communities, Inc.(c)

     1,824        81,186  

Cheesecake Factory, Inc. (The)(c)

     2,498        89,453  

Chico’s FAS, Inc.(b)(c)

     15,554        91,458  

Children’s Place, Inc. (The)(b)(c)

     2,044        82,741  

Chuy’s Holdings, Inc.(b)(c)

     3,713        108,791  

Conn’s, Inc.(b)(c)

     9,636        79,112  

Dave & Buster’s Entertainment, Inc.(b)(c)

     2,154        85,837  

Designer Brands, Inc., Class A(c)

     4,801        73,119  

Dine Brands Global, Inc.(c)

     1,162        83,769  

Dorman Products, Inc.(b)(c)

     978        79,824  

El Pollo Loco Holdings, Inc.

     9,132        91,685  

Ethan Allen Interiors, Inc.(c)

     3,427        87,697  

frontdoor, Inc.(b)(c)

     3,474        76,636  

Genesco, Inc.(b)

     1,691        79,545  

Gentherm, Inc.(b)

     1,393        81,379  

G-III Apparel Group Ltd.(b)

     4,494        87,633  

 

         Shares              Value      

Consumer Discretionary-(continued)

 

Golden Entertainment, Inc.(b)(c)

     2,063      $ 87,100  

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

     3,475        80,377  

Group 1 Automotive, Inc.

     490        84,770  

Guess?, Inc.(c)

     4,835        82,098  

Haverty Furniture Cos., Inc., (Acquired
12/18/2020 - 03/16/2022;
Cost $98,963)(c)(d)

     3,073        81,680  

Hibbett, Inc.(c)

     1,292        80,647  

Installed Building Products, Inc.

     916        78,776  

iRobot Corp.(b)(c)

     1,419        80,174  

Jack in the Box, Inc.(c)

     1,042        91,936  

Kontoor Brands, Inc.(c)

     2,281        81,432  

La-Z-Boy, Inc.

     3,166        78,422  

LCI Industries(c)

     704        74,701  

Leslie’s, Inc.(b)(c)

     5,962        83,706  

LGI Homes, Inc.(b)(c)

     885        81,464  

Liquidity Services, Inc.(b)(c)

     5,283        90,762  

LL Flooring Holdings, Inc.(b)

     10,633        88,467  

M.D.C. Holdings, Inc.

     2,644        80,536  

M/I Homes, Inc.(b)

     1,952        80,988  

MarineMax, Inc.(b)(c)

     2,418        78,126  

Meritage Homes Corp.(b)

     1,059        80,653  

Mister Car Wash, Inc.(b)

     8,105        71,567  

Monarch Casino & Resort, Inc.(b)

     1,354        107,521  

Monro, Inc.(c)

     1,775        84,756  

Motorcar Parts of America, Inc.(b)

     5,799        110,181  

Movado Group, Inc.

     2,636        87,173  

National Vision Holdings, Inc.(b)(c)

     2,268        84,007  

ODP Corp.(The)(b)

     2,286        90,457  

Oxford Industries, Inc.

     909        92,473  

Patrick Industries, Inc.

     1,673        76,473  

Perdoceo Education Corp.(b)

     7,721        88,251  

PetMed Express, Inc.(c)

     3,965        84,534  

Rent-A-Center, Inc.(c)

     3,162        65,928  

Ruth’s Hospitality Group, Inc.

     4,516        93,842  

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

     5,658        71,913  

Shake Shack, Inc., Class A(b)

     1,649        91,635  

Shoe Carnival, Inc.

     3,522        84,458  

Signet Jewelers Ltd.

     1,319        86,052  

Six Flags Entertainment Corp.(b)(c)

     3,504        78,139  

Sleep Number Corp.(b)(c)

     1,824        50,598  

Sonic Automotive, Inc., Class A(c)

     1,761        82,327  

Sonos, Inc.(b)(c)

     5,207        83,937  

Standard Motor Products, Inc.

     2,345        88,946  

Steven Madden Ltd.

     2,729        81,515  

Strategic Education, Inc.(c)

     1,322        91,218  

Stride, Inc.(b)(c)

     2,134        71,510  

Sturm Ruger & Co., Inc.(c)

     1,547        86,833  

Tri Pointe Homes, Inc.(b)

     4,868        81,539  

Tupperware Brands Corp.(b)

     8,503        65,728  

Unifi, Inc.(b)

     7,552        68,874  

Universal Electronics, Inc.(b)

     4,159        84,885  

Urban Outfitters, Inc.(b)(c)

     3,742        89,284  

Vista Outdoor, Inc.(b)(c)

     2,872        83,403  

Winnebago Industries, Inc.(c)

     1,421        84,819  

Wolverine World Wide, Inc.

     4,218        72,254  

WW International, Inc.(b)(c)

     14,543        65,734  

 

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

   
   

 

  39   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares            Value      

Consumer Discretionary-(continued)

 

XPEL, Inc.(b)(c)(e)

     1,181      $ 81,713  

Zumiez, Inc.(b)(c)

     3,029        67,940  
     

 

 

 
        7,531,888  
     

 

 

 

Consumer Staples-4.81%

 

Andersons, Inc.(The)

     2,354        83,026  

B&G Foods, Inc.(c)

     4,027        65,962  

Calavo Growers, Inc.

     2,236        77,343  

Cal-Maine Foods, Inc.(c)

     1,444        81,601  

Central Garden & Pet Co.(b)

     429        17,705  

Central Garden & Pet Co., Class A(b)

     1,805        70,648  

Chefs’ Warehouse, Inc. (The)(b)

     2,399        87,875  

Edgewell Personal Care Co.(c)

     2,123        83,200  

elf Beauty, Inc.(b)

     2,152        93,096  

Fresh Del Monte Produce, Inc.

     3,263        85,099  

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

     4,963        92,858  

Hostess Brands, Inc.(b)

     3,520        93,210  

Inter Parfums, Inc.

     1,023        82,740  

J&J Snack Foods Corp.(c)

     572        84,433  

John B. Sanfilippo & Son, Inc.

     1,064        88,748  

Medifast, Inc.(c)

     666        77,915  

MGP Ingredients, Inc.(c)

     735        82,357  

National Beverage Corp.(c)

     1,779        84,360  

PriceSmart, Inc.

     1,322        84,568  

Seneca Foods Corp., Class A(b)

     1,674        105,646  

Simply Good Foods Co. (The)(b)

     2,748        105,248  

SpartanNash Co.

     2,652        94,703  

Tootsie Roll Industries, Inc.

     2,379        96,088  

TreeHouse Foods, Inc.(b)(c)

     1,892        95,054  

United Natural Foods, Inc.(b)

     1,873        79,434  

Universal Corp.

     1,673        84,671  

USANA Health Sciences, Inc.(b)

     1,334        70,048  

Vector Group Ltd.

     8,346        88,635  

WD-40 Co.

     439        70,310  
     

 

 

 
        2,406,581  
     

 

 

 

Energy-5.12%

     

Archrock, Inc.

     11,202        84,127  

Bristow Group, Inc.(b)

     3,043        91,108  

Callon Petroleum Co.(b)(c)

     1,975        86,821  

Civitas Resources, Inc.

     1,274        89,065  

CONSOL Energy, Inc.

     1,258        79,279  

Core Laboratories N.V

     4,627        90,042  

DMC Global, Inc.(b)

     4,222        91,364  

Dorian LPG Ltd.

     5,763        104,137  

Dril-Quip, Inc.(b)(c)

     3,572        88,871  

Green Plains, Inc.(b)(c)

     2,191        63,298  

Helix Energy Solutions Group, Inc.(b)(c)

     19,017        133,119  

Helmerich & Payne, Inc.

     1,861        92,138  

Laredo Petroleum, Inc.(b)(c)

     1,126        72,796  

Nabors Industries Ltd.(b)(c)

     646        112,423  

Oceaneering International, Inc.(b)

     8,487        118,733  

Oil States International, Inc.(b)

     17,004        110,016  

Par Pacific Holdings, Inc.(b)

     4,512        103,235  

Patterson-UTI Energy, Inc.

     5,582        98,522  

PBF Energy, Inc., Class A(b)

     2,536        112,218  

ProPetro Holding Corp.(b)

     9,191        108,822  

Ranger Oil Corp., Class A(c)

     2,181        89,203  

REX American Resources Corp.(b)

     2,852        85,532  

RPC, Inc.

     10,538        117,288  

SM Energy Co.

     1,817        81,729  
         Shares              Value      

Energy-(continued)

     

Talos Energy, Inc.(b)

     4,119      $ 87,652  

US Silica Holdings, Inc.(b)

     6,119        88,052  

World Fuel Services Corp.

     3,353        85,468  
     

 

 

 
        2,565,058  
     

 

 

 

Financials-18.00%

     

Ambac Financial Group, Inc.(b)

     5,617        78,919  

American Equity Investment Life Holding Co.

     2,223        95,767  

Ameris Bancorp

     1,764        90,864  

AMERISAFE, Inc.

     1,710        99,881  

Apollo Commercial Real Estate Finance, Inc.

     7,357        82,840  

ARMOUR Residential REIT, Inc.

     11,630        61,872  

Assured Guaranty Ltd.(c)

     1,540        91,153  

Axos Financial, Inc.(b)

     2,049        79,829  

B. Riley Financial, Inc.(c)

     1,642        66,797  

Banc of California, Inc.

     4,738        79,030  

BancFirst Corp.

     844        80,872  

Bancorp, Inc.(The)(b)(c)

     3,434        94,710  

BankUnited, Inc.

     2,217        79,701  

Banner Corp.

     1,393        104,127  

Berkshire Hills Bancorp, Inc.

     2,883        84,328  

Blucora, Inc.(b)

     4,064        89,530  

Brightsphere Investment Group, Inc.

     4,528        85,217  

Brookline Bancorp, Inc.

     6,541        89,939  

Capitol Federal Financial, Inc.

     9,081        74,283  

Central Pacific Financial Corp.

     3,760        77,155  

City Holding Co.(c)

     968        97,623  

Columbia Banking System, Inc.(c)

     2,715        90,871  

Community Bank System, Inc.(c)

     1,285        80,222  

Customers Bancorp, Inc.(b)

     2,463        82,978  

CVB Financial Corp.

     3,244        93,168  

Dime Community Bancshares, Inc.

     2,664        91,988  

Donnelley Financial Solutions, Inc.(b)(c)

     2,045        82,679  

Eagle Bancorp, Inc.

     1,738        78,697  

Ellington Financial, Inc.

     5,638        75,436  

Employers Holdings, Inc.

     2,180        95,070  

Encore Capital Group, Inc.(b)(c)

     1,591        81,014  

Enova International, Inc.(b)

     2,337        87,614  

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

     9,762        94,301  

FB Financial Corp.

     2,106        88,368  

First Bancorp

     5,794        91,487  

First Bancorp/Southern Pines NC

     2,245        100,060  

First Commonwealth Financial Corp.

     6,176        88,564  

First Financial Bancorp

     3,831        99,874  

First Hawaiian, Inc.

     3,163        80,909  

Flagstar Bancorp, Inc.

     2,152        83,282  

Franklin BSP Realty Trust, Inc.(c)

     6,776        95,474  

Genworth Financial, Inc., Class A(b)

     20,457        95,534  

Granite Point Mortgage Trust, Inc.

     9,201        72,320  

Green Dot Corp., Class A(b)

     3,935        74,883  

Hanmi Financial Corp.

     3,386        90,677  

HCI Group, Inc.(c)

     1,727        63,277  

Heritage Financial Corp.

     3,098        104,372  

Hilltop Holdings, Inc.

     3,125        90,469  

HomeStreet, Inc.

     2,338        60,694  

Hope Bancorp, Inc.

     5,803        78,747  

Horace Mann Educators Corp.

     2,274        89,732  

Independent Bank Corp.

     1,064        92,579  

Independent Bank Group, Inc.

     1,263        79,683  

Invesco Mortgage Capital, Inc.(f)

     5,279        61,817  

 

 

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

   
   

 

  40   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares            Value      

Financials-(continued)

 

James River Group Holdings Ltd.

     3,455      $ 87,308  

KKR Real Estate Finance Trust, Inc.

     4,253        74,087  

Lakeland Financial Corp.

     1,103        91,163  

LendingTree, Inc.(b)

     2,317        58,458  

Mercury General Corp.

     2,467        71,543  

Mr. Cooper Group, Inc.(b)

     1,903        75,149  

National Bank Holdings Corp., Class A

     2,119        92,855  

NBT Bancorp, Inc.

     2,150        101,888  

New York Mortgage Trust, Inc.

     29,283        78,771  

NMI Holdings, Inc., Class A(b)

     4,117        90,286  

Northfield Bancorp, Inc.

     5,693        91,316  

Northwest Bancshares, Inc.

     5,927        89,261  

OFG Bancorp

     3,083        85,954  

Pacific Premier Bancorp, Inc.

     2,547        92,736  

Palomar Holdings, Inc.(b)(c)

     996        88,604  

Park National Corp.(c)

     630        92,925  

Pathward Financial, Inc.

     2,454        103,142  

PennyMac Mortgage Investment Trust(c)

     5,617        77,908  

Piper Sandler Cos

     722        92,394  

PRA Group, Inc.(b)

     2,309        77,351  

Preferred Bank

     1,215        93,397  

ProAssurance Corp.

     3,918        87,019  

PROG Holdings, Inc.(b)

     4,084        67,468  

Provident Financial Services, Inc.

     3,601        80,734  

Ready Capital Corp.(c)

     6,195        75,083  

Redwood Trust, Inc.

     11,355        80,961  

Renasant Corp.

     2,497        100,804  

S&T Bancorp, Inc.

     2,776        104,961  

Safety Insurance Group, Inc.(c)

     942        81,907  

Seacoast Banking Corp. of Florida

     2,619        80,927  

ServisFirst Bancshares, Inc.

     985        74,200  

Simmons First National Corp., Class A(c)

     3,501        83,569  

SiriusPoint Ltd.(Bermuda)(b)

     16,935        108,723  

Southside Bancshares, Inc.(c)

     2,221        76,047  

Stellar Bancorp, Inc.(c)

     2,816        92,477  

Stewart Information Services Corp.

     1,560        60,778  

StoneX Group, Inc.(b)

     960        89,587  

Tompkins Financial Corp.

     1,108        91,787  

Triumph Bancorp, Inc.(b)(c)

     1,341        69,061  

Trupanion, Inc.(b)(c)

     1,128        56,930  

TrustCo Bank Corp.

     2,507        93,561  

Trustmark Corp.

     2,639        96,508  

Two Harbors Investment Corp.

     16,918        60,228  

United Community Banks, Inc.

     2,525        97,212  

United Fire Group, Inc.

     2,793        75,690  

Universal Insurance Holdings, Inc.

     7,079        71,073  

Veritex Holdings, Inc.

     2,821        89,087  

Virtus Investment Partners, Inc.

     424        72,712  

Walker & Dunlop, Inc.

     824        74,127  

Westamerica Bancorporation

     1,485        93,154  

WisdomTree Investments, Inc.(c)

     15,777        85,669  

World Acceptance Corp.(b)(c)

     684        55,554  

WSFS Financial Corp.

     1,687        78,547  
     

 

 

 
         9,013,918  
     

 

 

 

Health Care-12.61%

 

AdaptHealth Corp.(b)(c)

     4,289        97,789  

Addus HomeCare Corp.(b)(c)

     893        91,461  

Allscripts Healthcare Solutions, Inc.(b)

     4,909        72,162  

AMN Healthcare Services, Inc.(b)

     787        98,769  
         Shares            Value      

Health Care-(continued)

 

Amphastar Pharmaceuticals, Inc.(b)(c)

     2,963      $ 91,557  

AngioDynamics, Inc.(b)

     3,689        51,978  

ANI Pharmaceuticals, Inc.(b)(c)

     2,250        86,828  

Anika Therapeutics, Inc.(b)

     3,645        103,591  

Apollo Medical Holdings, Inc.(b)(c)

     1,962        69,573  

Arcus Biosciences, Inc.(b)(c)

     3,286        83,727  

Artivion, Inc.(b)(c)

     3,764        42,006  

Avanos Medical, Inc.(b)

     3,283        72,718  

Avid Bioservices, Inc.(b)(c)

     4,553        77,128  

BioLife Solutions, Inc.(b)(c)

     3,135        73,735  

Cara Therapeutics, Inc.(b)(c)

     7,614        71,572  

Cardiovascular Systems, Inc.(b)

     5,907        85,297  

Catalyst Pharmaceuticals, Inc.(b)(c)

     5,650        78,366  

Coherus Biosciences, Inc.(b)(c)

     7,887        68,617  

Collegium Pharmaceutical, Inc.(b)

     4,825        86,561  

Community Health Systems, Inc.(b)

     25,912        74,367  

Computer Programs & Systems, Inc.(b)

     2,797        90,343  

CONMED Corp.(c)

     852        67,930  

Corcept Therapeutics, Inc.(b)

     3,219        92,063  

CorVel Corp.(b)(c)

     528        86,703  

Cross Country Healthcare, Inc.(b)

     3,137        116,351  

Cutera, Inc.(b)(c)

     1,675        77,000  

Cytokinetics, Inc.(b)(c)

     1,534        66,974  

Dynavax Technologies Corp.(b)(c)

     7,164        82,028  

Eagle Pharmaceuticals, Inc.(b)(c)

     2,673        84,119  

Embecta Corp.(c)

     2,584        79,897  

Emergent BioSolutions, Inc.(b)

     3,328        69,422  

Enanta Pharmaceuticals, Inc.(b)

     1,306        58,914  

Enhabit, Inc.(b)

     5,089        63,205  

Ensign Group, Inc.(The)

     959        86,099  

Fulgent Genetics, Inc.(b)(c)

     1,885        74,703  

Glaukos Corp.(b)(c)

     1,483        83,152  

Harmony Biosciences Holdings, Inc.(b)(c)

     1,776        92,352  

HealthStream, Inc.(b)

     3,714        91,736  

Heska Corp.(b)(c)

     913        65,517  

Innoviva, Inc.(b)(c)

     6,325        85,767  

Inogen, Inc.(b)(c)

     3,046        69,022  

Integer Holdings Corp.(b)

     1,286        80,156  

Ironwood Pharmaceuticals, Inc.(b)(c)

     7,588        83,013  

iTeos Therapeutics, Inc.(b)(c)

     3,783        73,693  

Joint Corp.(The)(b)

     4,319        71,350  

LeMaitre Vascular, Inc.(c)

     1,624        70,482  

Ligand Pharmaceuticals, Inc.(b)(c)

     871        76,343  

Meridian Bioscience, Inc.(b)

     2,608        83,378  

Merit Medical Systems, Inc.(b)

     1,359        93,458  

Mesa Laboratories, Inc.(c)

     501        66,237  

ModivCare, Inc.(b)

     749        72,833  

Myriad Genetics, Inc.(b)

     3,661        75,929  

Nektar Therapeutics(b)(c)

     22,952        86,300  

NeoGenomics, Inc.(b)

     7,986        60,734  

NextGen Healthcare, Inc.(b)

     4,928        98,757  

OptimizeRx Corp.(b)(c)

     5,221        80,482  

OraSure Technologies, Inc.(b)(c)

     20,110        87,680  

Organogenesis Holdings, Inc.(b)(c)

     22,552        73,971  

Orthofix Medical, Inc.(b)

     3,894        62,538  

Owens & Minor, Inc.(c)

     2,959        50,303  

Pacira BioSciences, Inc.(b)(c)

     1,498        77,536  

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

     4,597        89,182  

Pennant Group, Inc.(The)(b)

     5,510        67,828  

Phibro Animal Health Corp., Class A

     5,531        81,250  

 

 

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

   
   

 

  41   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares              Value      

Health Care-(continued)

 

Prestige Consumer Healthcare, Inc.(b)

     1,605      $ 87,440  

RadNet, Inc.(b)(c)

     3,875        74,090  

REGENXBIO, Inc.(b)(c)

     2,891        68,430  

Select Medical Holdings Corp.

     3,135        80,507  

Simulations Plus, Inc.

     1,394        57,851  

Supernus Pharmaceuticals, Inc.(b)(c)

     2,409        82,556  

SurModics, Inc.(b)

     2,532        86,442  

uniQure N.V. (Netherlands)(b)

     4,071        75,802  

US Physical Therapy, Inc.(c)

     1,073        95,282  

Vanda Pharmaceuticals, Inc.(b)

     8,133        85,153  

Varex Imaging Corp.(b)(c)

     3,815        84,350  

Vericel Corp.(b)(c)

     3,207        86,204  

Vir Biotechnology, Inc.(b)(c)

     3,730        81,985  

Xencor, Inc.(b)(c)

     3,231        90,468  

Zimvie, Inc.(b)(c)

     5,546        48,638  

Zynex, Inc.(c)

     8,885        101,289  
     

 

 

 
     6,311,019  
     

 

 

 

Industrials-15.19%

 

3D Systems Corp.(b)(c)

     8,255        72,892  

AAON, Inc.(c)

     1,454        93,768  

AAR Corp.(b)

     1,944        86,158  

ABM Industries, Inc.

     1,814        80,741  

Aerojet Rocketdyne Holdings, Inc.(b)

     1,835        88,906  

AeroVironment, Inc.(b)(c)

     834        76,311  

Alamo Group, Inc.

     634        96,419  

Albany International Corp., Class A

     973        89,146  

Allegiant Travel Co.(b)

     836        62,742  

American Woodmark Corp.(b)

     1,582        71,744  

Apogee Enterprises, Inc.

     2,032        93,228  

Applied Industrial Technologies, Inc.

     768        95,524  

ArcBest Corp.(c)

     1,114        88,485  

Arcosa, Inc.

     1,414        90,779  

Astec Industries, Inc.

     2,098        91,578  

Atlas Air Worldwide Holdings, Inc.(b)

     837        84,654  

AZZ, Inc.

     1,968        79,114  

Barnes Group, Inc.

     2,564        90,689  

Boise Cascade Co.

     1,317        87,936  

Brady Corp., Class A

     1,869        85,507  

CIRCOR International, Inc.(b)(c)

     4,778        98,761  

Comfort Systems USA, Inc.

     826        101,829  

CoreCivic, Inc.(b)

     8,631        90,367  

Deluxe Corp.

     4,397        80,817  

DXP Enterprises, Inc.(b)

     3,147        90,036  

Encore Wire Corp.(c)

     656        90,259  

Enerpac Tool Group Corp.

     4,313        109,593  

EnPro Industries, Inc.

     912        97,128  

ESCO Technologies, Inc.

     1,008        86,859  

Exponent, Inc.

     887        84,496  

Federal Signal Corp.

     2,054        95,819  

Forrester Research, Inc.(b)

     2,053        86,883  

Forward Air Corp.

     852        90,201  

Franklin Electric Co., Inc.

     943        77,269  

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

     9,901        83,762  

Gibraltar Industries, Inc.(b)

     1,991        101,700  

GMS, Inc.(b)

     1,833        86,518  

Granite Construction, Inc.

     2,785        93,938  

Greenbrier Cos., Inc.(The)

     2,854        100,775  

Griffon Corp.

     2,427        78,004  

Harsco Corp.(b)(c)

     14,083        74,499  
         Shares              Value      

Industrials-(continued)

 

Hawaiian Holdings, Inc.(b)(c)

     5,326      $ 76,854  

Healthcare Services Group, Inc.

     6,004        83,816  

Heartland Express, Inc.

     5,658        84,191  

Heidrick & Struggles International, Inc.

     3,038        85,550  

Hillenbrand, Inc.

     2,043        90,260  

HNI Corp.(c)

     2,580        74,794  

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

     1,060        82,256  

Insteel Industries, Inc.

     2,863        75,440  

Interface, Inc.

     7,902        89,372  

John Bean Technologies Corp.(c)

     814        74,237  

Kaman Corp.

     2,547        81,759  

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

     6,110        88,778  

Kelly Services, Inc., Class A

     5,462        89,249  

Korn Ferry

     1,607        89,333  

Lindsay Corp.

     521        88,205  

Marten Transport Ltd.

     4,361        81,856  

Matson, Inc.

     1,122        82,557  

Matthews International Corp., Class A(c)

     3,310        88,973  

MillerKnoll, Inc.

     4,724        100,054  

Moog, Inc., Class A

     1,071        90,767  

Mueller Industries, Inc.(c)

     1,333        83,499  

MYR Group, Inc.(b)

     907        79,372  

National Presto Industries, Inc.

     1,258        88,676  

NOW, Inc.(b)

     7,215        91,847  

NV5 Global, Inc.(b)(c)

     589        85,375  

Park Aerospace Corp.

     7,471        92,939  

PGT Innovations, Inc.(b)

     3,935        83,855  

Pitney Bowes, Inc.

     27,802        86,464  

Powell Industries, Inc.

     3,560        87,825  

Proto Labs, Inc.(b)(c)

     2,089        79,779  

Quanex Building Products Corp.

     3,933        87,155  

Resideo Technologies, Inc.(b)

     3,837        90,630  

Resources Connection, Inc.

     4,280        78,196  

SkyWest, Inc.(b)

     4,142        73,230  

SPX Technologies, Inc.(b)

     1,410        92,834  

Standex International Corp.

     952        94,296  

Sun Country Airlines Holdings, Inc.(b)(c)

     4,310        70,167  

Tennant Co.

     1,362        79,336  

Titan International, Inc.(b)

     6,105        91,331  

Trinity Industries, Inc.(c)

     3,440        98,143  

Triumph Group, Inc.(b)

     6,835        61,857  

TrueBlue, Inc.(b)

     4,086        80,331  

UFP Industries, Inc.

     1,074        76,501  

UniFirst Corp.

     471        86,669  

Veritiv Corp.(b)

     698        81,149  

Viad Corp.(b)

     2,175        81,084  

Wabash National Corp.

     5,384        116,564  
     

 

 

 
     7,603,239  
     

 

 

 

Information Technology-11.47%

 

8x8, Inc.(b)(c)

     17,700        74,871  

A10 Networks, Inc.

     6,130        102,984  

Adeia, Inc.

     10,177        113,779  

ADTRAN Holdings, Inc.

     4,165        93,546  

Advanced Energy Industries, Inc.(c)

     943        74,167  

Agilysys, Inc.(b)

     1,682        107,934  

Alarm.com Holdings, Inc.(b)(c)

     1,179        69,372  

Alpha & Omega Semiconductor Ltd.(b)(c)

     2,345        76,799  

Arlo Technologies, Inc.(b)

     14,719        75,803  

Avid Technology, Inc.(b)(c)

     3,289        90,415  

 

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

   
   

 

  42   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares              Value      

Information Technology-(continued)

 

Axcelis Technologies, Inc.(b)

     1,272      $ 73,776  

Badger Meter, Inc.

     860        96,733  

Benchmark Electronics, Inc.

     3,138        89,088  

Cerence, Inc.(b)(c)

     4,317        74,252  

CEVA, Inc.(b)(c)

     2,888        79,882  

Clearfield, Inc.(b)

     830        100,820  

Cohu, Inc.(b)(c)

     2,961        97,476  

Comtech Telecommunications Corp.

     6,846        75,648  

Consensus Cloud Solutions, Inc.(b)

     1,731        97,178  

Corsair Gaming, Inc.(b)(c)

     5,609        77,404  

CSG Systems International, Inc.

     1,476        95,453  

CTS Corp.(c)

     1,965        77,657  

Diebold Nixdorf, Inc.(b)

     27,272        67,907  

Digi International, Inc.(b)(c)

     2,366        95,421  

Digital Turbine, Inc.(b)(c)

     4,423        64,576  

Diodes, Inc.(b)

     1,198        85,861  

Ebix, Inc.

     3,527        69,799  

ePlus, Inc.(b)

     1,786        87,014  

EVERTEC, Inc.

     2,411        86,338  

Extreme Networks, Inc.(b)

     5,885        105,577  

Fabrinet (Thailand)(b)

     820        93,808  

FARO Technologies, Inc.(b)

     2,414        70,513  

FormFactor, Inc.(b)(c)

     2,924        59,094  

Harmonic, Inc.(b)

     7,602         117,451  

Ichor Holdings Ltd.(b)

     2,811        71,512  

Insight Enterprises, Inc.(b)(c)

     974        92,053  

InterDigital, Inc.

     1,749        87,223  

Itron, Inc.(b)

     1,649        80,620  

Knowles Corp.(b)

     5,907        81,221  

Kulicke & Soffa Industries, Inc.(Singapore)

     1,969        82,580  

LivePerson, Inc.(b)(c)

     6,779        71,654  

LiveRamp Holdings, Inc.(b)

     4,082        74,945  

MaxLinear, Inc.(b)

     2,209        68,214  

Methode Electronics, Inc.

     2,098        86,501  

NETGEAR, Inc.(b)

     3,669        72,096  

NetScout Systems, Inc.(b)(c)

     2,722        97,774  

OneSpan, Inc.(b)

     7,763        85,315  

Onto Innovation, Inc.(b)

     1,171        78,270  

OSI Systems, Inc.(b)

     1,053        86,535  

Payoneer Global, Inc.(b)

     8,976        69,564  

PC Connection, Inc.

     1,739        92,410  

PDF Solutions, Inc.(b)

     3,175        74,866  

Perficient, Inc.(b)

     1,110        74,337  

Photronics, Inc.(b)

     5,249        85,139  

Plexus Corp.(b)

     896        88,166  

Progress Software Corp.(c)

     1,771        90,374  

Rambus, Inc.(b)(c)

     3,275        98,774  

Rogers Corp.(b)

     335        78,836  

Sanmina Corp.(b)

     1,715        96,126  

ScanSource, Inc.(b)

     2,886        89,408  

SMART Global Holdings, Inc.(b)(c)

     4,605        62,306  

SPS Commerce, Inc.(b)

     667        84,389  

TTEC Holdings, Inc.

     1,579        70,218  

TTM Technologies, Inc.(b)

     5,395        82,597  

Ultra Clean Holdings, Inc.(b)

     2,805        87,264  

Unisys Corp.(b)

     9,485        80,622  

Veeco Instruments, Inc.(b)(c)

     3,993        72,792  
         Shares              Value      

Information Technology-(continued)

 

Viavi Solutions, Inc.(b)

     5,837      $ 88,139  

Xperi, Inc.(b)

     3,048        42,581  
     

 

 

 
      5,743,817  
     

 

 

 

Materials-5.64%

 

AdvanSix, Inc.

     2,306        83,892  

American Vanguard Corp.

     4,139        96,315  

Arconic Corp.(b)(c)

     3,143        65,249  

ATI, Inc.(b)(c)

     2,682        79,816  

Balchem Corp.

     627        87,655  

Carpenter Technology Corp.

     2,326        86,992  

Century Aluminum Co.(b)(c)

     10,080        72,677  

Clearwater Paper Corp.(b)

     1,973        87,759  

Compass Minerals International, Inc.(c)

     2,090        82,639  

FutureFuel Corp.

     12,531        85,712  

H.B. Fuller Co.

     1,242        86,580  

Hawkins, Inc.

     2,192        98,706  

Haynes International, Inc.(c)

     2,058        100,657  

Innospec, Inc.(c)

     924        92,391  

Kaiser Aluminum Corp.

     1,081        87,334  

Koppers Holdings, Inc.

     3,620        90,355  

Livent Corp.(b)(c)

     2,422        76,463  

Materion Corp.(c)

     988        84,681  

Mativ Holdings, Inc., Class A(c)

     3,346        79,434  

Mercer International, Inc. (Germany)

     5,869        78,762  

Minerals Technologies, Inc.

     1,337        73,548  

Myers Industries, Inc.

     4,453        90,351  

O-I Glass, Inc.(b)

     5,822        94,957  

Olympic Steel, Inc.

     3,067        83,453  

Quaker Chemical Corp.(c)

     474        77,091  

Rayonier Advanced Materials, Inc.(b)(c)

     17,969        81,759  

Stepan Co.(c)

     822        85,850  

SunCoke Energy, Inc.

     12,475        90,568  

Sylvamo Corp.

     2,184        105,203  

TimkenSteel Corp.(b)(c)

     5,143        89,694  

Tredegar Corp.

     8,117        88,394  

Trinseo PLC(c)

     3,090        58,154  

Warrior Met Coal, Inc.

     2,674        99,312  
     

 

 

 
     2,822,403  
     

 

 

 

Real Estate-7.91%

 

Acadia Realty Trust

     5,071        70,842  

Agree Realty Corp.

     1,116        76,669  

Alexander & Baldwin, Inc.

     4,465        86,978  

American Assets Trust, Inc.

     2,983        81,973  

Anywhere Real Estate, Inc.(b)(c)

     8,370        62,189  

Armada Hoffler Properties, Inc.

     6,371        74,477  

Brandywine Realty Trust

     9,947        65,252  

CareTrust REIT, Inc.

     3,954        73,861  

Centerspace(c)

     1,068        74,012  

Chatham Lodging Trust(b)

     6,614        85,784  

Community Healthcare Trust, Inc.

     2,240        77,504  

DiamondRock Hospitality Co.

     9,101        85,003  

Diversified Healthcare Trust

     59,809        81,340  

Douglas Elliman, Inc.

     17,172        79,335  

Easterly Government Properties, Inc.(c)

     4,566        79,403  

Elme Communities

     4,092        78,116  

Essential Properties Realty Trust, Inc.

     3,711        79,861  

Four Corners Property Trust, Inc.(c)

     3,143        80,524  

Franklin Street Properties Corp.

     27,180        78,278  

Getty Realty Corp.(c)

     2,762        86,975  

 

 

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

   
   

 

  43   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

         Shares              Value      

Real Estate-(continued)

 

Global Net Lease, Inc.

     6,150      $ 75,337  

Hersha Hospitality Trust, Class A

     8,016        73,346  

Hudson Pacific Properties, Inc.

     5,912        65,268  

Industrial Logistics Properties Trust

     11,792        55,187  

Innovative Industrial Properties, Inc.(c)

     881        95,236  

iStar, Inc.

     6,033        63,226  

LTC Properties, Inc.

     1,884        72,854  

LXP Industrial Trust(c)

     7,994        77,382  

Marcus & Millichap, Inc.(c)

     2,183        80,422  

NexPoint Residential Trust, Inc.

     1,546        70,498  

Office Properties Income Trust

     4,632        70,870  

Orion Office REIT, Inc.(c)

     7,910        74,117  

Outfront Media, Inc.(c)

     4,245        76,622  

RE/MAX Holdings, Inc., Class A

     3,711        72,216  

Retail Opportunity Investments Corp.

     4,850        70,228  

RPT Realty, (Acquired 04/11/2018 -
09/16/2022; Cost $106,708)(c)(d)

     8,594        79,924  

Safehold, Inc.(c)

     2,101        61,454  

Saul Centers, Inc.

     1,924        78,788  

Service Properties Trust

     11,988        97,223  

SITE Centers Corp.

     6,214        76,929  

St. Joe Co. (The)

     2,186        77,669  

Summit Hotel Properties, Inc.

     10,306        89,044  

Sunstone Hotel Investors, Inc.(c)

     7,413        82,655  

Tanger Factory Outlet Centers, Inc.

     5,312        95,669  

Uniti Group, Inc.(c)

     8,720        67,667  

Universal Health Realty Income Trust(c)

     1,646        80,111  

Urban Edge Properties

     5,088        71,843  

Urstadt Biddle Properties, Inc., Class A(c)

     5,025        94,168  

Veris Residential, Inc.(b)

     5,972        94,537  

Whitestone REIT

     8,223        77,378  

Xenia Hotels & Resorts, Inc.

     5,045        86,169  
     

 

 

 
        3,962,413  
     

 

 

 
         Shares              Value      

Utilities-1.36%

 

American States Water Co.

     989      $ 89,465  

Avista Corp.

     2,029        83,250  

California Water Service Group

     1,423        88,311  

Chesapeake Utilities Corp.

     654        81,344  

Middlesex Water Co.

     947        84,728  

Northwest Natural Holding Co.

     1,719        82,667  

South Jersey Industries, Inc.(c)

     2,433        84,352  

Unitil Corp.

     1,625        85,654  
     

 

 

 
        679,771  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.97%
(Cost $60,111,195)

 

     50,052,848  
     

 

 

 

Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-31.28%

 

Invesco Private Government Fund,
3.18%(f)(g)(h)

     4,403,984        4,403,984  

Invesco Private Prime Fund, 3.28%(f)(g)(h)

     11,255,350        11,255,350  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $15,659,909)

 

     15,659,334  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-131.25%
(Cost $75,771,104)

 

     65,712,182  

OTHER ASSETS LESS LIABILITIES-(31.25)%

 

     (15,646,580
     

 

 

 

NET ASSETS-100.00%

 

   $ 50,065,602  
     

 

 

 
     

 

Investment Abbreviations:

REIT-Real Estate Investment Trust

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

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

(d) 

Restricted security. The aggregate value of these securities at October 31, 2022 was $161,604, which represented less than 1% of the Fund’s Net Assets.

(e) 

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 value of this security at October 31, 2022 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 six months ended October 31, 2022.

 

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

Invesco Mortgage Capital, Inc.

   $    85,792    $ 34,659      $ (35,439     $(15,782)       $(7,413)        $      61,817      $     8,678  

Investments in Affiliated Money Market Funds:

                  

Invesco Government & Agency Portfolio, Institutional Class

        25,492      1,254,462        (1,279,954     -             -          -              289  

 

 

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

   
   

 

  44   

   
 


 

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)–(continued)

October 31, 2022

(Unaudited)

 

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

Investments Purchased with Cash

Collateral from Securities on

Loan:

                               

Invesco Private Government Fund

       $5,207,827      $ 9,905,258      $ (10,709,101 )     $ -     $ -       $4,403,984      $ 37,832 *

Invesco Private Prime Fund

       12,146,569        21,523,792        (22,414,765 )       (1,724 )       1,478       11,255,350        102,672 *
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

     

 

 

      

 

 

 

Total

       $17,465,680      $ 32,718,171      $ (34,439,259 )     $ (17,506 )     $ (5,935 )       $15,721,151      $ 149,471
    

 

 

      

 

 

      

 

 

     

 

 

     

 

 

     

 

 

      

 

 

 

 

*

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, 2022.

(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 2I.

 Portfolio Composition

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

 as of October 31, 2022

 

 

Financials

     18.00                                           

Industrials

     15.19     

Consumer Discretionary

     15.04     

Health Care

     12.61     

Information Technology

     11.47     

Real Estate

     7.91     

Materials

     5.64     

Energy

     5.12     

Consumer Staples

     4.81     

Sector Types Each Less Than 3%

     4.18     

Money Market Funds Plus Other Assets
Less Liabilities

     0.03     

 

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

   
   

 

  45   

   
 


 

Statements of Assets and Liabilities

October 31, 2022

(Unaudited)

 

 

Invesco S&P 500®
Equal Weight

ETF (RSP)

Invesco S&P 500®
Equal Weight
Communication Services
ETF (EWCO)

Invesco S&P 500®
Equal Weight
Consumer Discretionary
ETF (RCD)

Invesco S&P 500®
Equal Weight
Consumer Staples
ETF (RHS)

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

Unaffiliated investments in securities, at value(a)

$ 30,811,146,166 $ 30,838,364 $ 355,050,685 $ 658,475,157

Affiliated investments in securities, at value

  1,830,187,296   4,035,659   35,819,873   32,905,626

Cash

  82,448,601   -   -   -

Receivable for:

Dividends

  21,528,229   47,377   144,414   680,115

Securities lending

  195,492   193   3,719   1,866

Investments sold

  20,880,331   -   -   -

Fund shares sold

  108,860,838   -   -   3,362,821

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

  32,875,246,953   34,921,593   391,018,691   695,425,585

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

Due to custodian

  -   -   55,052   -

Payable for:

Investments purchased

  189,849,813   1,905,236   -   3,359,757

Collateral upon return of securities loaned

  1,771,953,232   2,167,070   35,819,547   32,744,544

Fund shares repurchased

  21,031,236   -   -   -

Accrued unitary management fees

  4,884,130   10,165   103,444   206,365

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

  1,987,718,411   4,082,471   35,978,043   36,310,666

 

 

 

 

 

 

 

 

 

 

 

 

Net Assets

$ 30,887,528,542 $ 30,839,122 $ 355,040,648 $ 659,114,919

 

 

 

 

 

 

 

 

 

 

 

 

Net assets consist of:

Shares of beneficial interest

$ 34,316,615,261 $ 46,949,021 $ 516,149,372 $ 676,063,254

Distributable earnings (loss)

  (3,429,086,719 )   (16,109,899 )   (161,108,724 )   (16,948,335 )

 

 

 

 

 

 

 

 

 

 

 

 

Net Assets

$ 30,887,528,542 $ 30,839,122 $ 355,040,648 $ 659,114,919

 

 

 

 

 

 

 

 

 

 

 

 

Shares outstanding (unlimited amount authorized, $0.01 par value)

  221,312,663   1,190,001   3,070,000   3,920,000

Net asset value

$ 139.57 $ 25.92 $ 115.65 $ 168.14

 

 

 

 

 

 

 

 

 

 

 

 

Market price

$ 139.61 $ 25.92 $ 115.66 $ 168.25

 

 

 

 

 

 

 

 

 

 

 

 

Unaffiliated investments in securities, at cost

$ 31,923,889,380 $ 42,925,311 $ 439,828,669 $ 619,557,048

 

 

 

 

 

 

 

 

 

 

 

 

Affiliated investments in securities, at cost

$ 1,853,484,694 $ 4,035,716 $ 35,819,547 $ 32,903,659

 

 

 

 

 

 

 

 

 

 

 

 

(a)Includes securities on loan with an aggregate value of:

$ 1,725,068,668 $ 2,089,076 $ 35,514,634 $ 32,064,157

 

 

 

 

 

 

 

 

 

 

 

 

 

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

   
   

 

  46   

   
 


 

    

    

    

 

Invesco S&P 500®
Equal Weight
Energy

        ETF (RYE)        

  

Invesco S&P 500®
Equal Weight
Financials

        ETF (RYF)        

  

Invesco S&P 500®
Equal Weight

Health Care

        ETF (RYH)        

  

Invesco S&P 500®
Equal Weight
Industrials

        ETF (RGI)        

  

Invesco S&P 500®
Equal Weight
Materials

        ETF (RTM)        

  

Invesco S&P 500®
Equal Weight

Real Estate

        ETF (EWRE)        

  

Invesco S&P 500®
Equal Weight
Technology

        ETF (RYT)        

 

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

      

 

 

 
       $ 587,196,922                $ 407,581,693               $ 928,775,466               $ 313,724,758               $ 344,501,867               $ 104,589,436               $ 1,974,874,921    
         43,395,364                  13,242,940                 32,364,554                 19,700,488                 25,509,728                 3,620,783                 157,715,174    
                -                         -                               -                               -                               -                               -                               4,452           
         954,969                  374,992                 440,962                 154,734                 282,494                 14,330                 356,095    
         3,881                  799                 1,985                 1,403                 2,179                 925                 9,621    
         -                  14,164,592                 -                 -                 -                 8,299,429                 -    
         4,498,547                  -                 -                 -                 -                 -                 -    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
         636,049,683                  435,365,016                 961,582,967                 333,581,383                 370,296,268                 116,524,903                 2,132,960,263    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
         310,059                  59,222                 -                 74,084                 1,343                 -                 -    
         4,497,965                  8,122,801                 -                 -                 -                 -                 -    
         43,392,257                  7,760,024                 31,964,463                 19,626,791                 25,415,217                 3,536,962                 156,259,582    
         -                  6,253,468                 -                 -                 -                 8,316,283                 -    
         177,063                  135,459                 300,074                 101,607                 116,215                 37,337                 634,412    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
         48,377,344                  22,330,974                 32,264,537                 19,802,482                 25,532,775                 11,890,582                 156,893,994    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 587,672,339                $ 413,034,042               $ 929,318,430               $ 313,778,901               $ 344,763,493               $ 104,634,321               $ 1,976,066,269    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 587,368,836                $ 470,195,140               $ 939,756,638               $ 373,416,527               $ 421,793,111               $ 140,015,354               $ 2,218,093,978    
         303,503                  (57,161,098 )                 (10,438,208 )                 (59,637,626 )                 (77,029,618 )                 (35,381,033 )                 (242,027,709 )    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 587,672,339                $ 413,034,042               $ 929,318,430               $ 313,778,901               $ 344,763,493               $ 104,634,321               $ 1,976,066,269    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
         7,760,005                  7,300,000                 3,370,000                 1,800,000                 2,240,000                 3,400,000                 8,080,000    
       $ 75.73                $ 56.58               $ 275.76               $ 174.32               $ 153.91               $ 30.77               $ 244.56    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 75.84                $ 56.62               $ 275.76               $ 174.39               $ 153.92               $ 30.80               $ 244.51    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 478,179,405                $ 432,025,367               $ 849,160,540               $ 338,404,357               $ 409,273,874               $ 133,881,449               $ 2,105,447,111    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 43,392,257                $ 15,826,344               $ 32,363,883               $ 19,699,718               $ 25,509,890               $ 3,620,533               $ 157,708,844    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     
       $ 43,540,548                $ 7,444,435               $ 30,931,516               $ 19,120,663               $ 24,624,644               $ 3,463,041               $ 150,124,376    
      

 

 

                

 

 

               

 

 

               

 

 

               

 

 

               

 

 

               

 

 

     

 

   

 

  47   

   
 


 

Statements of Assets and Liabilities–(continued)

October 31, 2022

(Unaudited)

 

   

Invesco S&P 500®
Equal Weight
Utilities

ETF (RYU)

 

Invesco S&P
MidCap 400®
Equal Weight

ETF (EWMC)

 

Invesco S&P
SmallCap 600®
Equal Weight
ETF (EWSC)

 

Assets:

                    

Unaffiliated investments in securities, at value(a)

          $ 390,514,691          $ 116,945,834          $ 49,991,031          

Affiliated investments in securities, at value

       17,710,004            35,283,408            15,721,151    

Receivable for:

                    

Dividends

       585,847            45,046            34,906    

Securities lending

       1,824            4,615                 1,943    

Investments sold

            2,212,443                   -                 -    
    

 

 

        

 

 

        

 

 

   

Total assets

       411,024,809            152,278,903            65,749,031    
    

 

 

        

 

 

        

 

 

   

Liabilities:

                    

Due to custodian

       1,972            -            7,647    

Payable for:

                    

Collateral upon return of securities loaned

       17,685,186            35,187,052            15,659,909    

Fund shares repurchased

       2,215,231            -            -    

Accrued unitary management fees

       134,144            37,331            15,873    
    

 

 

        

 

 

        

 

 

   

Total liabilities

       20,036,533            35,224,383            15,683,429    
    

 

 

        

 

 

        

 

 

   

Net Assets

     $ 390,988,276          $ 117,054,520          $ 50,065,602    
    

 

 

        

 

 

        

 

 

   

Net assets consist of:

                    

Shares of beneficial interest

     $ 428,827,733          $ 146,137,027          $ 85,587,013    

Distributable earnings (loss)

       (37,839,457          (29,082,507          (35,521,411  
    

 

 

        

 

 

        

 

 

   

Net Assets

     $ 390,988,276          $ 117,054,520          $ 50,065,602    
    

 

 

        

 

 

        

 

 

   

Shares outstanding (unlimited amount authorized, $0.01 par value)

       3,530,000            1,400,000            700,000    

Net asset value

     $ 110.76          $ 83.61          $ 71.52    
    

 

 

        

 

 

        

 

 

   

Market price

     $ 110.77          $ 83.67          $ 71.58    
    

 

 

        

 

 

        

 

 

   

Unaffiliated investments in securities, at cost

     $ 402,682,493          $ 117,773,711          $ 59,980,344    
    

 

 

        

 

 

        

 

 

   

Affiliated investments in securities, at cost

     $ 17,709,962          $ 35,283,945          $ 15,790,760    
    

 

 

        

 

 

        

 

 

   

(a) Includes securities on loan with an aggregate value of:

     $ 16,764,927          $ 34,289,180          $ 15,259,447    
    

 

 

        

 

 

        

 

 

   

 

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

   
   

 

  48   

   
 


 

 

 

(This Page Intentionally Left Blank)

 

 

 

 

   

 

  49   

   
 


 

Statements of Operations

For the six months ended October 31, 2022

(Unaudited)

 

 

    

Invesco S&P 500®
Equal Weight

      ETF (RSP)       

 

Invesco S&P 500®

Equal Weight
Communication Services
          ETF (EWCO)            

 

Invesco S&P 500®

Equal Weight
Consumer Discretionary
            ETF (RCD)            

 

Invesco S&P 500®

Equal Weight
Consumer Staples
        ETF (RHS)        

Investment income:

                       

Unaffiliated dividend income

       $     303,264,400       $      279,252       $     2,301,691       $     7,748,293

Affiliated dividend income

       1,360,679       342       2,329       1,965

Securities lending income, net

       1,042,834       1,700       24,738       11,348

Foreign withholding tax

       (89,011 )       -       -       -
    

 

 

     

 

 

     

 

 

     

 

 

 

Total investment income

       305,578,902       281,294       2,328,758       7,761,606
    

 

 

     

 

 

     

 

 

     

 

 

 

Expenses:

                

Unitary management fees

       30,676,354       64,896       653,925       1,229,163

Professional fees

       218       -       54       -
    

 

 

     

 

 

     

 

 

     

 

 

 

Total expenses

       30,676,572       64,896       653,979       1,229,163
    

 

 

     

 

 

     

 

 

     

 

 

 

Less: Waivers

       (5,605 )       (11 )       (132 )       (129 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net expenses

       30,670,967       64,885       653,847       1,229,034
    

 

 

     

 

 

         

Net investment income

       274,907,935       216,409       1,674,911       6,532,572
    

 

 

     

 

 

     

 

 

     

 

 

 

Realized and unrealized gain (loss) from:

 

           

Net realized gain (loss) from:

                

Unaffiliated investment securities

       (614,815,381 )       (1,318,509 )       (26,200,327 )       (7,881,129 )

Affiliated investment securities

       36,680       268       2,298       1,903

Unaffiliated in-kind redemptions

       669,686,733       (269,976 )       (9,499,767 )       23,691,677

Affiliated in-kind redemptions

       325,218       -       -       -
    

 

 

     

 

 

     

 

 

     

 

 

 

Net realized gain (loss)

       55,233,250       (1,588,217 )       (35,697,796 )       15,812,451
    

 

 

     

 

 

     

 

 

     

 

 

 

Change in net unrealized appreciation (depreciation) of:

                

Unaffiliated investment securities

       (1,766,000,424 )       (3,099,308 )       (1,806,630 )       (37,385,064 )

Affiliated investment securities

       (10,585,509 )       (192 )       (2,652 )       1,967
    

 

 

     

 

 

     

 

 

     

 

 

 

Change in net unrealized appreciation (depreciation)

       (1,776,585,933 )       (3,099,500 )       (1,809,282 )           (37,383,097 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net realized and unrealized gain (loss)

       (1,721,352,683 )           (4,687,717 )           (37,507,078 )       (21,570,646 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from operations

       $(1,446,444,748 )       $(4,471,308 )       $(35,832,167 )       $(15,038,074 )
    

 

 

     

 

 

     

 

 

     

 

 

 

 

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

   
   

 

  50 

   
 


 

    

    

    

 

Invesco S&P 500®
Equal Weight
Energy
        ETF (RYE)        

   

Invesco S&P 500®
Equal Weight
Financials
        ETF (RYF)        

   

Invesco S&P 500®
Equal Weight
Health Care
        ETF (RYH)        

   

Invesco S&P 500®
Equal Weight
Industrials
        ETF (RGI)        

   

Invesco S&P 500®
Equal Weight
Materials
        ETF (RTM)        

   

Invesco S&P 500®
Equal Weight

Real Estate
        ETF (EWRE)        

   

Invesco S&P 500®

Equal Weight

Technology

        ETF (RYT)         

 
  $ 12,735,508                           $ 5,050,469         $ 4,690,365                           $ 2,616,126                           $ 5,889,102                            $ 2,408,009                            $ 11,298,085  
         2,676           139,849                             3,804           1,605           2,614            493            6,701  
    9,410           4,892           11,224           16,521           11,725            2,125            39,188  
    -           -           -           -           -            -            (38,509
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    12,747,594           5,195,210           4,705,393           2,634,252           5,903,441            2,410,627            11,305,465  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    1,086,602           877,769           1,798,561           678,173           875,938            268,317            4,191,361  
    -           -           -           -           -            -            -  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    1,086,602           877,769           1,798,561           678,173           875,938            268,317            4,191,361  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    (189         (115         (239         (96         (172          (31          (327
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    1,086,413           877,654           1,798,322           678,077           875,766            268,286            4,191,034  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    11,661,181           4,317,556           2,907,071           1,956,175           5,027,675            2,142,341            7,114,431  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    (8,433,923         (7,034,348         (4,969,415         (7,248,952         (10,368,398          (4,201,859          (82,966,334
    7,111           (1,215,255         3,109           (703         559            (442          14,876  
    70,527,771           13,098,718           5,803,799           5,168,947           23,229,227            333,006            125,351,829  
    -           (113,090         -           -           -            -            -  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    62,100,959           4,736,025           837,493           (2,080,708         12,861,388            (3,869,295          42,400,371  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    (1,190,046         (14,364,550         (19,149,537         (13,529,966         (92,548,696          (28,598,482          (177,258,991
    1,307           132,459           (205         770           (162          250            703  
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    (1,188,739         (14,232,091         (19,149,742         (13,529,196         (92,548,858          (28,598,232          (177,258,288
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
    60,912,220           (9,496,066         (18,312,249         (15,609,904         (79,687,470          (32,467,527          (134,857,917
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 
  $ 72,573,401         $ (5,178,510       $ (15,405,178       $ (13,653,729       $ (74,659,795        $ (30,325,186        $ (127,743,486
 

 

 

       

 

 

       

 

 

       

 

 

       

 

 

        

 

 

        

 

 

 

 

   

 

  51   

   
 


 

Statements of Operations–(continued)

For the six months ended October 31, 2022

(Unaudited)

 

    

Invesco S&P 500®
Equal Weight

Utilities

      ETF (RYU)       

    

Invesco S&P

MidCap 400®
Equal Weight

 ETF (EWMC) 

    

Invesco S&P
SmallCap 600®
Equal Weight

  ETF (EWSC)  

 

Investment income:

                     

Unaffiliated dividend income

               $ 5,846,912           $ 1,071,240           $ 482,959  

Affiliated dividend income

        2,684             687             8,967  

Securities lending income, net

        8,750             39,958             12,675  

Foreign withholding tax

        -             -             (294
     

 

 

         

 

 

         

 

 

 

Total investment income

        5,858,346             1,111,885             504,307  
     

 

 

         

 

 

         

 

 

 

Expenses:

                     

Unitary management fees

        794,687             230,263             106,778  
     

 

 

         

 

 

         

 

 

 

Less: Waivers

        (175           (41           (19
     

 

 

         

 

 

         

 

 

 

Net expenses

        794,512             230,222             106,759  
     

 

 

         

 

 

         

 

 

 

Net investment income

        5,063,834             881,663             397,548  
     

 

 

         

 

 

         

 

 

 

Realized and unrealized gain (loss) from:

                     

Net realized gain (loss) from:

                     

Unaffiliated investment securities

        (5,047,085           (2,225,976           (3,295,261

Affiliated investment securities

        56             3,142             (7,702

Unaffiliated in-kind redemptions

        8,920,062             2,350,663             335,241  

Affiliated in-kind redemptions

        -             -             1,767  
     

 

 

         

 

 

         

 

 

 

Net realized gain (loss)

        3,873,033             127,829             (2,965,955
     

 

 

         

 

 

         

 

 

 

Change in net unrealized appreciation (depreciation) of:

                     

Unaffiliated investment securities

        (36,252,847           (3,474,266           852,134  

Affiliated investment securities

        42             (2,861           (17,506
     

 

 

         

 

 

         

 

 

 

Change in net unrealized appreciation (depreciation)

        (36,252,805           (3,477,127           834,628  
     

 

 

         

 

 

         

 

 

 

Net realized and unrealized gain (loss)

        (32,379,772           (3,349,298           (2,131,327
     

 

 

         

 

 

         

 

 

 

Net increase (decrease) in net assets resulting from operations

      $ (27,315,938         $ (2,467,635         $ (1,733,779
     

 

 

         

 

 

         

 

 

 

 

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

   
   

 

  52 

   
 


 

 

 

(This Page Intentionally Left Blank)

 

 

 

 

 

 

   
   

 

  53   

   
 


 

Statements of Changes in Net Assets

For the six months ended October 31, 2022 and the year ended April 30, 2022

(Unaudited)

 

     Invesco S&P 500® Equal Weight
ETF (RSP)
  Invesco S&P  500® Equal Weight
Communication Services ETF (EWCO)
     Six Months
Ended
October 31,

2022
  Year Ended
April 30,
2022
  Six Months Ended
October 31,

2022
  Year Ended
April 30,

2022

Operations:

                

Net investment income

     $ 274,907,935     $ 453,441,999     $ 216,409     $ 500,475

Net realized gain (loss)

       55,233,250       4,032,689,988       (1,588,217 )       4,856,621

Change in net unrealized appreciation (depreciation)

       (1,776,585,933 )       (4,542,078,666 )       (3,099,500 )       (14,693,249 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from operations

       (1,446,444,748 )       (55,946,679 )       (4,471,308 )       (9,336,153 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to Shareholders from:

                

Distributable earnings

       (289,632,370 )       (414,826,419 )       (223,077 )       (492,257 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Shareholder Transactions:

                

Proceeds from shares sold

       3,898,299,783       17,287,255,363       4,131,741       38,761,355

Value of shares repurchased

       (3,589,592,247 )       (11,107,088,517 )       (6,748,765 )       (33,782,369 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from share transactions

       308,707,536       6,180,166,846       (2,617,024 )       4,978,986
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets

       (1,427,369,582 )       5,709,393,748       (7,311,409 )       (4,849,424 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net assets:

                

Beginning of period

       32,314,898,124       26,605,504,376       38,150,531       42,999,955
    

 

 

     

 

 

     

 

 

     

 

 

 

End of period

     $ 30,887,528,542     $ 32,314,898,124     $ 30,839,122     $ 38,150,531
    

 

 

     

 

 

     

 

 

     

 

 

 

Changes in Shares Outstanding:

                

Shares sold

       27,840,000       111,570,000       160,000       1,070,000

Shares repurchased

       (25,640,000 )       (72,000,000 )       (240,000 )       (920,000 )

Shares outstanding, beginning of period

       219,112,663       179,542,663       1,270,001       1,120,001
    

 

 

     

 

 

     

 

 

     

 

 

 

Shares outstanding, end of period

       221,312,663       219,112,663       1,190,001       1,270,001
    

 

 

     

 

 

     

 

 

     

 

 

 

 

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

   
   

 

  54   

   
 


 

    

    

    

 

Invesco S&P 500® Equal Weight
Consumer Discretionary ETF (RCD) 
          Invesco S&P 500® Equal Weight
Consumer Staples ETF (RHS)
              Invesco S&P 500® Equal Weight
Energy ETF (RYE)
Six Months
Ended
October 31,
2022
      Year Ended
April 30,
2022
          Six Months Ended
October 31,
2022
          Year Ended
April 30,
            2022            
              Six Months Ended
October 31,
            2022             
               Year Ended
April 30,
2022
      $ 1,674,911               $ 4,003,929                 $ 6,532,572                 $ 11,895,707                 $ 11,661,181                  $ 8,637,669
        (35,697,796               108,025,811                   15,812,451                   23,867,463                   62,100,959                    30,521,763
        (1,809,282               (181,527,662 )                   (37,383,097 )                   11,129,654                   (1,188,739 )                    113,000,326
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        (35,832,167               (69,497,922 )                   (15,038,074 )                   46,892,824                   72,573,401                    152,159,758
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        (1,809,310               (3,814,408 )                   (7,953,545 )                   (9,688,630 )                   (9,858,103 )                    (7,745,649 )
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        243,183,263                 544,817,140                   205,648,727                   168,265,330                   217,965,906                    424,900,042
        (216,664,645               (1,078,796,534 )                   (108,169,604 )                   (98,015,506 )                   (237,193,746 )                    (181,594,852 )
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        26,518,618                 (533,979,394 )                   97,479,123                   70,249,824                   (19,227,840 )                    243,305,190
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        (11,122,859               (607,291,724 )                   74,487,504                   107,454,018                   43,487,458                    387,719,299
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        366,163,507                 973,455,231                   584,627,415                   477,173,397                   544,184,881                    156,465,582
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
      $ 355,040,648               $ 366,163,507                 $ 659,114,919                 $ 584,627,415                 $ 587,672,339                  $ 544,184,881
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        2,130,000                 3,720,000                   1,220,000                   990,000                   3,100,000                    7,790,000
        (1,920,000               (7,400,000 )                   (650,000 )                   (600,000 )                   (3,610,000 )                    (3,360,000 )
        2,860,000                 6,540,000                   3,350,000                   2,960,000                   8,270,005                    3,840,005
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 
        3,070,000                 2,860,000                   3,920,000                   3,350,000                   7,760,005                    8,270,005
     

 

 

             

 

 

                 

 

 

                 

 

 

                 

 

 

                  

 

 

 

 

   

 

  55   

   
 


 

Statements of Changes in Net Assets–(continued)

For the six months ended October 31, 2022 and the year ended April 30, 2022

(Unaudited)

 

     Invesco S&P 500® Equal Weight
Financials ETF (RYF)
  Invesco S&P 500® Equal Weight
Health Care ETF (RYH)
     Six Months Ended
October 31,
2022
   Year Ended
April 30,
2022
  Six Months Ended
October 31,
2022
  Year Ended
April 30,
2022

Operations:

                 

Net investment income

       $    4,317,556        $ 7,916,082     $ 2,907,071     $ 5,496,570

Net realized gain (loss)

       4,736,025          41,006,093       837,493       97,181,308

Change in net unrealized appreciation (depreciation)

       (14,232,091)          (72,308,998 )       (19,149,742 )       (100,450,688 )
    

 

 

      

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from operations

       (5,178,510)          (23,386,823 )       (15,405,178 )       2,227,190
    

 

 

      

 

 

     

 

 

     

 

 

 

Distributions to Shareholders from:

                 

Distributable earnings

       (4,504,345)          (7,576,669 )       (2,778,298 )       (5,700,199 )
    

 

 

      

 

 

     

 

 

     

 

 

 

Shareholder Transactions:

                 

Proceeds from shares sold

       43,180,344          291,613,975       65,639,769       347,594,026

Value of shares repurchased

       (104,114,091)          (152,900,425 )       (19,447,365 )       (256,351,506 )
    

 

 

      

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from share transactions

       (60,933,747)          138,713,550       46,192,404       91,242,520
    

 

 

      

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets

       (70,616,602)          107,750,058       28,008,928       87,769,511
    

 

 

      

 

 

     

 

 

     

 

 

 

Net assets:

                 

Beginning of period

       483,650,644          375,900,586       901,309,502       813,539,991
    

 

 

      

 

 

     

 

 

     

 

 

 

End of period

       $ 413,034,042        $ 483,650,644     $ 929,318,430     $ 901,309,502
    

 

 

      

 

 

     

 

 

     

 

 

 

Changes in Shares Outstanding:

                 

Shares sold

       770,000          4,570,000       240,000       1,140,000

Shares repurchased

       (1,870,000)          (2,470,000 )       (70,000 )       (840,000 )

Shares outstanding, beginning of period

       8,400,000          6,300,000       3,200,000       2,900,000
    

 

 

      

 

 

     

 

 

     

 

 

 

Shares outstanding, end of period

       7,300,000          8,400,000       3,370,000       3,200,000
    

 

 

      

 

 

     

 

 

     

 

 

 

 

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

   
   

 

  56   

   
 


 

    

    

    

 

Invesco S&P 500® Equal Weight
Industrials ETF (RGI)
  Invesco S&P 500® Equal Weight
Materials ETF (RTM)
  Invesco S&P 500® Equal Weight
Real Estate ETF (EWRE)
Six Months
Ended
October 31,
2022
  Year Ended
April 30,
2022
  Six Months
Ended
October 31,
2022
  Year Ended
April 30,
2022
  Six Months Ended
October 31,
2022
  Year Ended
April 30,
2022
                                                                                                                                                   
  $ 1,956,175     $ 3,947,344     $ 5,027,675     $ 7,745,959     $ 2,142,341     $ 1,597,672
    (2,080,708       86,633,921       12,861,388       109,286,193       (3,869,295 )       7,923,065
    (13,529,196       (108,913,558 )       (92,548,858 )       (78,942,473 )       (28,598,232 )       (4,181,810 )
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    (13,653,729       (18,332,293 )       (74,659,795 )       38,089,679       (30,325,186 )       5,338,927
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    (1,946,160       (3,744,767 )       (4,593,451 )       (7,882,048 )       (2,041,263 )       (2,593,643 )
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    38,282,461         225,497,806       116,104,379       340,502,147       8,883,514       169,321,932
    (119,588,788       (350,326,361 )       (265,740,673 )       (410,473,194 )       (44,092,861 )       (45,120,196 )
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    (81,306,327       (124,828,555 )       (149,636,294 )       (69,971,047 )       (35,209,347 )       124,201,736
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    (96,906,216       (146,905,615 )       (228,889,540 )       (39,763,416 )       (67,575,796 )       126,947,020
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    410,685,117         557,590,732       573,653,033       613,416,449       172,210,117       45,263,097
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
  $ 313,778,901     $ 410,685,117     $ 344,763,493     $ 573,653,033     $ 104,634,321     $ 172,210,117
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    210,000         1,180,000       650,000       1,920,000       260,000       4,340,000
    (730,000       (1,870,000 )       (1,610,000 )       (2,430,000 )       (1,300,000 )       (1,190,000 )
    2,320,000         3,010,000       3,200,000       3,710,000       4,440,000       1,290,000
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 
    1,800,000         2,320,000       2,240,000       3,200,000       3,400,000       4,440,000
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

 

   

 

  57   

   
 


 

Statements of Changes in Net Assets–(continued)

For the six months ended October 31, 2022 and the year ended April 30, 2022

(Unaudited)

 

     Invesco S&P 500® Equal Weight
Technology ETF (RYT)
  Invesco S&P 500® Equal Weight
Utilities ETF (RYU)
     Six Months Ended
October 31,
2022
  Year Ended
April 30,
2022
  Six Months Ended
October 31,
2022
  Year Ended
April 30,
2022

Operations:

                

Net investment income

     $ 7,114,431     $ 14,489,903     $ 5,063,834     $ 5,949,854

Net realized gain (loss)

       42,400,371       527,227,488       3,873,033       9,214,155

Change in net unrealized appreciation (depreciation)

       (177,258,288 )       (692,880,474 )       (36,252,805 )       6,353,473
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from  operations

       (127,743,486 )       (151,163,083 )       (27,315,938 )       21,517,482
    

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to Shareholders from:

                

Distributable earnings

       (6,454,075 )       (14,410,661 )       (5,100,952 )       (5,695,196 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Shareholder Transactions:

                

Proceeds from shares sold

       533,871,941       1,044,687,721       149,543,552       174,240,285

Value of shares repurchased

       (598,921,969 )       (1,293,818,623 )       (59,471,865 )       (65,285,928 )
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets resulting from share transactions

       (65,050,028 )       (249,130,902 )       90,071,687       108,954,357
    

 

 

     

 

 

     

 

 

     

 

 

 

Net increase (decrease) in net assets

       (199,247,589 )       (414,704,646 )       57,654,797       124,776,643
    

 

 

     

 

 

     

 

 

     

 

 

 

Net assets:

                

Beginning of period

       2,175,313,858       2,590,018,504       333,333,479       208,556,836
    

 

 

     

 

 

     

 

 

     

 

 

 

End of period

     $ 1,976,066,269     $ 2,175,313,858     $ 390,988,276     $ 333,333,479
    

 

 

     

 

 

     

 

 

     

 

 

 

Changes in Shares Outstanding:

                

Shares sold

       2,160,000       3,550,000       1,230,000       1,520,000

Shares repurchased

       (2,480,000 )       (4,490,000 )       (550,000 )       (600,000 )

Shares outstanding, beginning of period

       8,400,000       9,340,000       2,850,000       1,930,000
    

 

 

     

 

 

     

 

 

     

 

 

 

Shares outstanding, end of period

       8,080,000       8,400,000       3,530,000       2,850,000
    

 

 

     

 

 

     

 

 

     

 

 

 

 

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

   
   

 

  58   

   
 


 

    

    

    

 

Invesco S&P MidCap 400® Equal Weight
ETF (EWMC)
  Invesco S&P SmallCap 600® Equal Weight
ETF (EWSC)
   
Six Months Ended
October 31,

2022
  Year Ended
April 30,
2022
  Six Months Ended
October 31,

2022
  Year Ended
April 30,

2022
 

 

$

 

881,663

 

    $ 1,311,425     $ 397,548     $ 711,476
    127,829         15,936,922       (2,965,955 )       12,295,002
    (3,477,127       (26,325,234 )       834,628       (20,915,333 )
 

 

 

     

 

 

     

 

 

     

 

 

 
    (2,467,635       (9,076,887 )       (1,733,779 )       (7,908,855 )
 

 

 

     

 

 

     

 

 

     

 

 

 
 

 

 

 

(819,622

 

      (1,286,646 )       (372,372 )       (665,001 )
 

 

 

     

 

 

     

 

 

     

 

 

 
 

 

 

 

8,465,892

 

 

      60,749,853       2,065,063       64,179,090
    (11,318,988       (41,124,909 )       (11,115,719 )       (52,840,953 )
 

 

 

     

 

 

     

 

 

     

 

 

 
 

 

 

 

(2,853,096

 

      19,624,944       (9,050,656 )       11,338,137
 

 

 

     

 

 

     

 

 

     

 

 

 
    (6,140,353       9,261,411       (11,156,807 )       2,764,281
 

 

 

     

 

 

     

 

 

     

 

 

 
 

 

 

 

123,194,873

 

 

      113,933,462       61,222,409       58,458,128
 

 

 

     

 

 

     

 

 

     

 

 

 
    $117,054,520       $ 123,194,873     $ 50,065,602     $ 61,222,409
 

 

 

     

 

 

     

 

 

     

 

 

 
 

 

 

 

100,000

 

 

      660,000       30,000       770,000
    (140,000       (450,000 )       (160,000 )       (660,000 )
    1,440,000         1,230,000       830,000       720,000
 

 

 

     

 

 

     

 

 

     

 

 

 
    1,400,000         1,440,000       700,000       830,000
 

 

 

     

 

 

     

 

 

     

 

 

   

 

   

 

  59   

   
 


 

Financial Highlights

    

Invesco S&P 500® Equal Weight ETF (RSP)

 

        Six Months Ended
October  31,
2022
     (Unaudited)     
  Years Ended April 30,   Six Months Ended
April  30,
2018
  Year Ended
October 31,

2017
        2022   2021   2020               2019             

Per Share Operating Performance:

                             

Net asset value at beginning of period

      $ 147.48     $ 148.18     $ 96.17     $ 108.20     $ 99.87     $ 96.58     $ 81.57
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

        1.27       2.30       1.93       2.15       1.78       0.85       1.39

Net realized and unrealized gain (loss) on investments

        (7.85 )       (0.91 )       52.09       (11.97 )       8.45       3.33       14.85
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

        (6.58 )       1.39       54.02       (9.82 )       10.23       4.18       16.24
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                             

Net investment income

        (1.33 )       (2.09 )       (2.01 )       (2.21 )       (1.90 )       (0.89 )       (1.23 )
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

      $ 139.57     $ 147.48     $ 148.18     $ 96.17     $ 108.20     $ 99.87     $ 96.58
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

      $ 139.61     $ 147.45     $ 148.23     $ 96.31     $ 108.22     $ 99.92    
     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

        (4.42 )%       0.88 %       56.72 %       (8.98 )%       10.45 %       4.30 %       19.98 %

Market Price Total Return(c)

        (4.40 )%       0.86 %       56.53 %       (8.89 )%       10.43 %       4.36 %    

Ratios/Supplemental Data:

                             

Net assets at end of period (000’s omitted)

      $ 30,887,529     $ 32,314,898     $ 26,605,504     $ 10,943,870     $ 16,143,961     $ 14,616,057     $ 14,226,625

Ratio to average net assets of:

                             

Expenses, after Waivers

        0.20 %(d)       0.20 %       0.20 %       0.20 %       0.20 %       0.20 %(d)       0.33 %

Expenses, prior to Waivers

        0.20 %(d)       0.20 %       0.20 %       0.20 %       0.20 %       0.20 %(d)       0.36 %

Net investment income

        1.79 %(d)       1.48 %       1.60 %       2.01 %       1.74 %       1.69 %(d)       1.52 %

Portfolio turnover rate(e)

        11 %       18 %       24 %       19 %    

 

19

%

      9 %       21 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

  60   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)

 

          Six Months Ended
October 31, 2022

(Unaudited)
       Years Ended April 30,  

For the Period
November 5, 2018(a)
Through

April 30,

                  2022        2021        2020   2019

Per Share Operating Performance:

                                        

Net asset value at beginning of period

          $ 30.04          $ 38.39          $ 22.73          $ 25.39     $ 25.00
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Net investment income(b)

            0.19            0.41            0.41            0.41 (c)         0.16

Net realized and unrealized gain (loss) on investments

            (4.11 )            (8.37 )            15.60            (2.64 )       0.33
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Total from investment operations

            (3.92 )            (7.96 )            16.01            (2.23 )       0.49
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Distributions to shareholders from:

                                        

Net investment income

            (0.20 )            (0.39 )            (0.35 )            (0.40 )       (0.10 )

Net realized gains

            -            -            -            (0.03 )       -
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Total distributions

            (0.20 )            (0.39 )            (0.35 )            (0.43 )       (0.10 )
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Net asset value at end of period

          $ 25.92          $ 30.04          $ 38.39          $ 22.73     $ 25.39
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Market price at end of period(d)

          $ 25.92          $ 30.04          $ 38.43          $ 22.74     $ 25.41
         

 

 

          

 

 

          

 

 

          

 

 

     

 

 

 

Net Asset Value Total Return(e)

            (13.08 )%            (20.90 )%            70.90 %            (8.89 )%       2.04 %(f)

Market Price Total Return(e)

            (13.08 )%            (20.98 )%            71.00 %            (8.92 )%       2.12 %(f)

Ratios/Supplemental Data:

                                        

Net assets at end of period (000’s omitted)

          $ 30,839          $ 38,151          $ 43,000          $ 18,180     $ 22,851

Ratio to average net assets of:

                                        

Expenses

            0.40 %(g)            0.40 %            0.40 %            0.42 %(h)       0.40 %(g)

Net investment income

            1.33 %(g)            1.13 %            1.36 %            1.65 %(c)(h)       1.42 %(g)

Portfolio turnover rate(i)

            17 %            29 %            20 %            30 %       10 %

 

(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 significant dividend received during the period. Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.29 and 1.17%, 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 (November 7, 2018, the first day of trading on the exchange) to April 30, 2019 was 0.08%. The market price total return from Fund Inception to April 30, 2019 was 0.04%.

(g) 

Annualized.

(h)

Ratios include non-recurring costs associated with a proxy statement of 0.02%.

(i)

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.

   
   

 

  61   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)

 

         

Six Months Ended
October 31,

2022

      Years Ended April 30,       Six Months Ended
April 30,
  Year Ended October 31,
          (Unaudited)       2022   2021   2020        2019       2018   2017

Per Share Operating Performance:

                                              

Net asset value at beginning of period

          $ 128.03         $ 148.85     $ 81.71     $ 107.85          $ 99.15         $ 91.21     $ 85.40
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Net investment income(a)

            0.60           0.92       0.56       1.83            1.49           0.68       1.27

Net realized and unrealized gain (loss) on investments

            (12.37 )           (20.78 )       67.17       (26.05 )            8.80           7.98       5.84
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Total from investment operations

            (11.77 )           (19.86 )       67.73       (24.22 )            10.29           8.66       7.11
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Distributions to shareholders from:

                                              

Net investment income

            (0.61 )           (0.96 )       (0.59 )       (1.92 )            (1.59 )           (0.72 )       (1.30 )
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Net asset value at end of period

          $ 115.65         $ 128.03     $ 148.85     $ 81.71          $ 107.85         $ 99.15     $ 91.21
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Market price at end of period(b)

          $ 115.66         $ 127.91     $ 148.79     $ 81.63          $ 107.86         $ 99.13    
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

Net Asset Value Total Return(c)

            (9.17 )%           (13.40 )%       83.19 %       (22.56 )%            10.58 %           9.49 %       8.32 %

Market Price Total Return(c)

            (9.08 )%           (13.44 )%       83.29 %       (22.64 )%            10.61 %           9.48 %    

Ratios/Supplemental Data:

                                              

Net assets at end of period (000’s omitted)

          $ 355,041         $ 366,164     $ 973,455     $ 49,028          $ 113,239         $ 84,279     $ 72,965

Ratio to average net assets of:

                                              

Expenses

            0.40 %(d)           0.40 %       0.40 %       0.41 %(e)            0.40 %           0.40 %(d)       0.40 %

Net investment income

            1.02 %(d)           0.62 %       0.45 %       1.80 %(e)            1.45 %           1.38 %(d)       1.39 %

Portfolio turnover rate(f)

            13 %           21 %       33 %       28 %            30 %           13 %       29 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

Ratios include non-recurring costs associated with a proxy statement of 0.01%.

(f) 

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.

   
   

 

  62   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)

 

          Six Months Ended
October 31,
2022
      Years Ended April 30,       Six Months Ended
April 30,
  Year Ended October 31,
               (Unaudited)        2022   2021   2020                2019               2018   2017

Per Share Operating Performance:

                                              

Net asset value at beginning of period

          $ 174.52         $ 161.21     $ 133.63     $ 134.95          $ 122.87         $ 121.67     $ 121.52
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Net investment income(a)

            1.78           4.02       2.79       3.19            2.87           1.32       2.30

Net realized and unrealized gain (loss) on investments

            (5.99 )           12.63       28.05       (1.34 )            12.30           1.14       0.13
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Total from investment operations

            (4.21 )           16.65       30.84       1.85            15.17           2.46       2.43
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Distributions to shareholders from:

                                              

Net investment income

            (2.17 )           (3.34 )       (3.26 )       (3.17 )            (3.09 )           (1.26 )       (2.28 )
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Net asset value at end of period

          $ 168.14         $ 174.52     $ 161.21     $ 133.63          $ 134.95         $ 122.87     $ 121.67
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

 

 

 

Market price at end of period(b)

          $ 168.25         $ 174.50     $ 161.11     $ 133.58          $ 134.97         $ 122.84    
         

 

 

         

 

 

     

 

 

     

 

 

          

 

 

         

 

 

     

Net Asset Value Total Return(c)

            (2.36 )%           10.51 %       23.34 %       1.44 %            12.63 %           1.96 %       1.99 %

Market Price Total Return(c)

            (2.28 )%           10.58 %       23.31 %       1.37 %            12.67 %           1.97 %    

Ratios/Supplemental Data:

                                              

Net assets at end of period (000’s omitted)

          $ 659,115         $ 584,627     $ 477,173     $ 481,080          $ 431,837         $ 417,753     $ 444,092

Ratio to average net assets of:

                                              

Expenses

            0.40 %(d)           0.40 %       0.40 %       0.40 %            0.40 %           0.40 %(d)       0.40 %

Net investment income

            2.13 %(d)           2.46 %       1.91 %       2.32 %            2.27 %           2.06 %(d)       1.86 %

Portfolio turnover rate(e)

            9 %           13 %       14 %       22 %            19 %           9 %       20 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

  63   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Energy ETF (RYE)

 

        

Six Months Ended
October 31,

2022

       Years Ended April 30,        Six Months Ended
April 30,
  Year Ended October 31,
               (Unaudited)                     2022   2021           2020           2019                        2018           2017

Per Share Operating Performance:

                                          

Net asset value at beginning of period

         $ 65.80          $ 40.75     $ 28.05     $ 51.81     $ 60.29          $ 54.29     $ 56.90
        

 

 

          

 

 

     

 

 

     

 

 

     

 

 

          

 

 

     

 

 

 

Net investment income(a)

           1.47            1.54       0.86       1.09       0.82            0.47       1.28

Net realized and unrealized gain (loss) on investments

           9.70            24.84       12.80       (23.84 )       (8.34 )            5.98       (2.50 )
        

 

 

          

 

 

     

 

 

     

 

 

     

 

 

          

 

 

     

 

 

 

Total from investment operations

           11.17            26.38       13.66       (22.75 )       (7.52 )            6.45       (1.22 )
        

 

 

          

 

 

     

 

 

     

 

 

     

 

 

          

 

 

     

 

 

 

Distributions to shareholders from:

                                          

Net investment income

           (1.24 )            (1.33 )       (0.96 )       (1.01 )       (0.96 )            (0.45 )       (1.39 )
        

 

 

          

 

 

     

 

 

     

 

 

     

 

 

          

 

 

     

 

 

 

Net asset value at end of period

         $ 75.73          $ 65.80     $ 40.75     $ 28.05     $ 51.81          $ 60.29     $ 54.29
        

 

 

          

 

 

         

 

 

     

 

 

          

 

 

     

 

 

 

Market price at end of period(b)

         $ 75.84          $ 65.79     $ 40.80     $ 28.06     $ 51.82          $ 60.43    
        

 

 

          

 

 

     

 

 

     

 

 

     

 

 

          

 

 

     

Net Asset Value Total Return(c)

           17.26 %            65.91 %       50.01 %       (44.18 )%       (12.46 )%            11.97 %       (2.20 )%

Market Price Total Return(c)

           17.45 %            65.68 %       50.15 %       (44.17 )%       (12.65 )%            12.31 %    

Ratios/Supplemental Data:

                                          

Net assets at end of period (000’s omitted)

         $ 587,672          $ 544,185     $ 156,466     $ 82,739     $ 209,823          $ 253,202     $ 230,747

Ratio to average net assets of:

                                          

Expenses

           0.40 %(d)            0.40 %       0.40 %       0.40 %       0.40 %            0.40 %(d)       0.40 %

Net investment income

           4.29 %(d)            2.92 %       2.75 %       2.60 %       1.46 %            1.69 %(d)       2.22 %

Portfolio turnover rate(e)

           12 %            50 %       37 %       34 %       31 %            10 %       34 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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. For the year ended April 30, 2022, the portfolio turnover calculation includes the value of securities purchased and sold in the effort to realign the Fund’s portfolio holdings due to the underlying index change.

 

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

   
   

 

  64   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Financials ETF (RYF)

 

    

Six Months Ended
October 31,

2022

  Years Ended April 30,       Six Months Ended
April 30,
  Year Ended October 31,
           (Unaudited)              2022   2021   2020                   2019                       2018   2017

Per Share Operating Performance:

                                                   

Net asset value at beginning of period

         $ 57.58         $ 59.67     $ 35.43     $ 43.78         $ 43.94         $ 41.93     $ 31.41
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Net investment income(a)

           0.55           1.05       1.05       0.92           0.78           0.40       0.55

Net realized and unrealized gain (loss) on investments

           (0.98 )           (2.13 )       24.25       (8.38 )                  -           1.91       10.45
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Total from investment operations

           (0.43 )           (1.08 )       25.30       (7.46 )           0.78           2.31       11.00
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Distributions to shareholders from:

                                            

Net investment income

           (0.57 )           (1.01 )       (1.06 )       (0.89 )           (0.94 )           (0.30 )       (0.48 )
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Net asset value at end of period

         $ 56.58         $ 57.58     $ 59.67     $ 35.43         $ 43.78         $ 43.94     $ 41.93
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Market price at end of period(b)

         $ 56.62         $ 57.53     $ 59.73     $ 35.53         $ 43.79         $ 43.98    
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

Net Asset Value Total Return(c)

           (0.71 )%           (1.90 )%       72.61 %       (17.09 )%           1.98 %           5.50 %       35.15 %

Market Price Total Return(c)

           (0.55 )%           (2.08 )%       72.30 %       (16.88 )%           1.91 %           5.47 %    

Ratios/Supplemental Data:

                                            

Net assets at end of period (000’s omitted)

         $ 413,034         $ 483,651     $ 375,901     $ 161,203         $ 291,145         $ 441,558     $ 358,496

Ratio to average net assets of:

                                            

Expenses

           0.40 %(d)           0.40 %       0.40 %       0.40 %           0.40 %           0.40 %(d)       0.40 %

Net investment income

           1.97 %(d)           1.68 %       2.33 %       2.15 %           1.86 %           1.81 %(d)       1.44 %

Portfolio turnover rate(e)

           10 %           17 %       19 %       23 %           17 %           7 %       15 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

  65   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Health Care ETF (RYH)

 

        

Six Months Ended
October 31,

2022

      Years Ended April 30,       Six Months Ended
April 30,
  Year Ended October 31,
           (Unaudited)            2022   2021   2020                   2019                   2018   2017

Per Share Operating Performance:

                                                   

Net asset value at beginning of period

         $ 281.66         $ 280.53     $ 214.07     $ 193.66         $ 178.78         $ 175.84     $ 143.79
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Net investment income(a)

           0.89           1.76       1.25       1.31           1.05           0.44       0.78

Net realized and unrealized gain (loss) on investments

           (5.94 )           1.19 (b)         66.53       20.36           14.87           2.93       32.02
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Total from investment operations

           (5.05 )           2.95       67.78       21.67           15.92           3.37       32.80
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Distributions to shareholders from:

                                            

Net investment income

           (0.85 )           (1.82 )       (1.32 )       (1.26 )           (1.04 )           (0.43 )       (0.75 )
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Net asset value at end of period

         $ 275.76         $ 281.66     $ 280.53     $ 214.07         $ 193.66         $ 178.78     $ 175.84
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

 

 

 

Market price at end of period(c)

         $ 275.76         $ 281.64     $ 280.73     $ 214.39         $ 193.67         $ 178.95    
        

 

 

         

 

 

     

 

 

     

 

 

         

 

 

         

 

 

     

Net Asset Value Total Return(d)

           (1.80 )%           1.00 %       31.76 %       11.27 %           8.91 %           1.92 %       22.85 %

Market Price Total Return(d)

           (1.77 )%           0.91 %       31.66 %       11.42 %           8.82 %           2.06 %    

Ratios/Supplemental Data:

                                            

Net assets at end of period
(000’s omitted)

         $ 929,318         $ 901,310     $ 813,540     $ 706,437         $ 706,845         $ 598,911     $ 650,617

Ratio to average net assets of:

                                            

Expenses

           0.40 %(e)           0.40 %       0.40 %       0.40 %           0.40 %           0.40 %(e)       0.40 %

Net investment income

           0.65 %(e)           0.59 %       0.51 %       0.64 %           0.55 %           0.49 %(e)       0.48 %

Portfolio turnover rate(f)

           10 %           22 %       20 %       23 %           23 %           12 %       24 %

 

(a) 

Based on average shares outstanding.

(b) 

Net realized and unrealized gain (loss) on investments per share may not correlate with the Fund’s net realized and unrealized gain (loss) due to timing of shareholder transactions in relation to the fluctuating market values of the Fund’s investments.

(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) 

Annualized.

(f) 

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.

   
   

 

  66   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Industrials ETF (RGI)

 

    

Six Months Ended
October 31,

2022

          Year Ended October 31,
    Years Ended April 30,  

Six Months Ended

April 30,

     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 177.02     $ 185.25     $ 109.44     $ 126.03     $ 115.01     $ 113.29     $ 90.92
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       0.99       1.50       1.31       1.83       1.53       0.62       1.24

Net realized and unrealized gain (loss) on investments

       (2.72 )       (8.31 )       75.87       (16.57 )       11.15       1.73       22.50
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (1.73 )       (6.81 )       77.18       (14.74 )       12.68       2.35       23.74
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (0.97 )       (1.42 )       (1.37 )       (1.85 )       (1.66 )       (0.63 )       (1.37 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 174.32     $ 177.02     $ 185.25     $ 109.44     $ 126.03     $ 115.01     $ 113.29
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

     $ 174.39     $ 176.94     $ 185.17     $ 109.50     $ 126.01     $ 115.03    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

       (0.95 )%       (3.70 )%       70.89 %       (11.70 )%       11.21 %       2.05 %       26.21 %

Market Price Total Return(c)

       (0.86 )%       (3.71 )%       70.73 %       (11.64 )%       11.17 %       2.00 %    

Ratios/Supplemental Data:

                            

Net assets at end of period
(000’s omitted)

     $ 313,779     $ 410,685     $ 557,591     $ 142,273     $ 245,750     $ 281,763     $ 226,584

Ratio to average net assets of:

                            

Expenses

       0.40 %(d)       0.40 %       0.40 %       0.40 %       0.40 %       0.40 %(d)       0.40 %

Net investment income

       1.15 %(d)       0.79 %       0.89 %       1.46 %       1.29 %       1.05 %(d)       1.18 %

Portfolio turnover rate(e)

       9 %       17 %       19 %       23 %       28 %       7 %       18 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

  67   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Materials ETF (RTM)

 

    

Six Months Ended
October 31,

2022

          Year Ended October 31,
    Years Ended April 30,   Six Months Ended
April 30,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 179.27     $ 165.34     $ 94.33     $ 108.11     $ 106.31     $ 107.79     $ 84.46
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       1.90       2.58       2.48       2.10       1.79       0.70       1.49

Net realized and unrealized gain (loss) on investments

       (25.54 )       14.03       70.77       (13.65 )       1.97       (1.50 )       23.28
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (23.64 )       16.61       73.25       (11.55 )       3.76       (0.80 )       24.77
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (1.72 )       (2.68 )       (2.24 )       (2.23 )       (1.96 )       (0.68 )       (1.44 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 153.91     $ 179.27     $ 165.34     $ 94.33     $ 108.11     $ 106.31     $ 107.79
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

     $ 153.92     $ 179.25     $ 165.42     $ 94.49     $ 108.16     $ 106.31    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

       (13.21 )%       10.18 %       78.45 %       (10.70 )%       3.67 %       (0.77 )%       29.52 %

Market Price Total Return(c)

       (13.19 )%       10.11 %       78.24 %       (10.58 )%       3.70 %       (0.91 )%    

Ratios/Supplemental Data:

                            

Net assets at end of period
(000’s omitted)

     $ 344,763     $ 573,653     $ 613,416     $ 108,480     $ 129,728     $ 180,726     $ 194,020

Ratio to average net assets of:

                            

Expenses

       0.40 %(d)       0.40 %       0.40 %       0.40 %       0.40 %       0.40 %(d)       0.40 %

Net investment income

       2.30 %(d)       1.50 %       1.83 %       1.99 %       1.69 %       1.28 %(d)       1.54 %

Portfolio turnover rate(e)

       10 %       15 %       18 %       25 %       23 %       6 %       22 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

  68   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)

 

    

Six Months Ended
October 31,

2022

      Six Months Ended
April 30,
  Year Ended October 31,
    Years Ended April 30,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 38.79     $ 35.09     $ 25.65     $ 29.71     $ 25.96     $ 27.29     $ 25.81
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       0.55       0.57       0.67 (b)         0.72       0.69       0.44       0.54

Net realized and unrealized gain (loss) on investments

       (8.03 )       4.04       9.93       (3.62 )       3.97       (1.20 )       1.59
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (7.48 )       4.61       10.60       (2.90 )       4.66       (0.76 )       2.13
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (0.54 )       (0.91 )       (1.16 )       (1.03 )       (0.85 )       (0.35 )       (0.65 )

Net realized gains

       -       -       -       (0.13 )       (0.06 )       (0.22 )       -
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total distributions

       (0.54 )       (0.91 )       (1.16 )       (1.16 )       (0.91 )       (0.57 )       (0.65 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 30.77     $ 38.79     $ 35.09     $ 25.65     $ 29.71     $ 25.96     $ 27.29
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(c)

     $ 30.80     $ 38.88     $ 35.12     $ 25.65     $ 29.75     $ 25.96    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(d)

       (19.37 )%       13.20 %       42.37 %       (9.59 )%       18.35 %       (2.93 )%       8.33 %

Market Price Total Return(d)

       (19.35 )%       13.37 %       42.50 %       (9.71 )%       18.51 %       (2.35 )%    

Ratios/Supplemental Data:

                            

Net assets at end of period (000’s omitted)

     $ 104,634     $ 172,210     $ 45,263     $ 23,084     $ 37,143     $ 16,873     $ 24,561

Ratio to average net assets of:

                            

Expenses

       0.40 %(e)       0.40 %       0.40 %       0.41 %(f)       0.40 %       0.41 %(e)       0.41 %

Net investment income

       3.19 %(e)       1.48 %       2.36 %(b)       2.37 %(f)       2.46 %       3.28 %(e)       2.00 %

Portfolio turnover rate(g)

       16 %       19 %       21 %       15 %       14 %       2 %       24 %

 

(a) 

Based on average shares outstanding.

(b) 

Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period.Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $0.49 and 1.73%, respectively.

(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) 

Annualized.

(f)

Ratios include non-recurring costs associated with a proxy statement of 0.01%.

(g) 

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.

   
   

 

  69   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Technology ETF (RYT)

 

    

Six Months Ended
October 31,

2022

  Years Ended April 30,   Six Months Ended
April 30,
  Year Ended October 31,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating

Performance:

                            

Net asset value at beginning of period

     $ 258.97     $ 277.30     $ 183.15     $ 180.69     $ 150.94     $ 142.44     $ 104.67
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       0.86       1.57       1.87       3.15 (b)         1.57       0.56       1.16

Net realized and unrealized gain (loss) on investments

       (14.46 )       (18.32 )       95.21       1.50       29.78       8.56       37.61
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (13.60 )       (16.75 )       97.08       4.65       31.35       9.12       38.77
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (0.81 )       (1.58 )       (2.93 )       (2.19 )       (1.60 )       (0.62 )       (1.00 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 244.56     $ 258.97     $ 277.30     $ 183.15     $ 180.69     $ 150.94     $ 142.44
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(c)

     $ 244.51     $ 258.95     $ 277.24     $ 183.44     $ 180.66     $ 151.10    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(d)

       (5.26 )%       (6.10 )%       53.40 %       2.73 %       20.92 %       6.40 %       37.19 %

Market Price Total Return(d)

       (5.30 )%       (6.08 )%       53.12 %       2.91 %       20.77 %       6.48 %    

Ratios/Supplemental Data:

                            

Net assets at end of period (000’s omitted)

     $ 1,976,066     $ 2,175,314     $ 2,590,019     $ 1,529,343     $ 1,788,846     $ 1,615,066     $ 1,509,833

Ratio to average net assets of:

                            

Expenses

       0.40 %(e)       0.40 %       0.40 %       0.40 %       0.40 %       0.40 %(e)       0.40 %

Net investment income

       0.68 %(e)       0.53 %       0.81 %       1.73 %(b)       0.98 %       0.76 %(e)       0.95 %(e)

Portfolio turnover rate(f)

       11 %       24 %       25 %       23 %       27 %       10 %       19 %

 

(a) 

Based on average shares outstanding.

(b) 

Net investment income per share and the ratio of net investment income to average net assets include a significant dividend received during the period.Net investment income per share and the ratio of net investment income to average net assets excluding the significant dividend are $1.92 and 1.06%, respectively.

(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) 

Annualized.

(f)

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.

   
   

 

  70   

   
 


 

Financial Highlights–(continued)

    

Invesco S&P 500® Equal Weight Utilities ETF (RYU)

 

    

Six Months Ended
October 31,

2022

          Year Ended October 31,
    Years Ended April 30,   Six Months Ended
April 30,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 116.96     $ 108.06     $ 92.31     $ 97.25     $ 84.51     $ 88.52     $ 81.10
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       1.49       2.82       2.70       2.77       2.67       1.38       2.54

Net realized and unrealized gain (loss) on investments

       (6.26 )       8.74       16.05       (4.99 )       12.69       (3.92 )       7.44
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (4.77 )       11.56       18.75       (2.22 )       15.36       (2.54 )       9.98
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (1.43 )       (2.66 )       (3.00 )       (2.72 )       (2.62 )       (1.47 )       (2.56 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 110.76     $ 116.96     $ 108.06     $ 92.31     $ 97.25     $ 84.51     $ 88.52
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

     $ 110.77     $ 116.96     $ 107.84     $ 92.52     $ 97.23     $ 84.45    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

       (4.13 )%       10.90 %       20.80 %       (2.28 )%       18.54 %       (2.88 )%       12.51 %

Market Price Total Return(c)

       (4.11 )%       11.15 %       20.28 %       (2.04 )%       18.60 %       (2.92 )%    

Ratios/Supplemental Data:

                            

Net assets at end of period
(000’s omitted)

     $ 390,988     $ 333,333     $ 208,557     $ 300,013     $ 335,499     $ 139,434     $ 168,180

Ratio to average net assets of:

                            

Expenses

       0.40 %(d)       0.40 %       0.40 %       0.40 %       0.40 %       0.40 %(d)       0.40 %

Net investment income

       2.55 %(d)       2.56 %       2.77 %       2.72 %       2.96 %       3.29 %(d)       3.01 %

Portfolio turnover rate(e)

       7 %       15 %       10 %       11 %       27 %       7 %       11 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

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.

   
   

 

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Financial Highlights–(continued)

    

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)

 

    

Six Months Ended
October 31,

2022

      Six Months Ended        
April 30,           
  Year Ended October 31,
    Years Ended April 30,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 85.55     $ 92.63     $ 53.10     $ 66.18     $ 63.30     $ 62.00     $ 51.40
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       0.64       0.93       0.75       0.89       0.77       0.42       0.60

Net realized and unrealized gain (loss) on investments

       (1.99 )       (7.10 )       39.56       (12.99 )       2.96       1.30       10.59
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (1.35 )       (6.17 )       40.31       (12.10 )       3.73       1.72       11.19
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (0.59 )       (0.91 )       (0.78 )       (0.98 )       (0.85 )       (0.42 )       (0.59 )
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 83.61     $ 85.55     $ 92.63     $ 53.10     $ 66.18     $ 63.30     $ 62.00
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

     $ 83.67     $ 85.47     $ 92.64     $ 52.87     $ 66.19     $ 63.29    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

       (1.55 )%       (6.72 )%       76.41 %       (18.24 )%       5.96 %       2.76 %       21.82 %

Market Price Total Return(c)

       (1.39 )%       (6.81 )%       77.20 %       (18.60 )%       5.99 %       2.74 %    

Ratios/Supplemental Data:

                            

Net assets at end of period (000’s omitted)

     $ 117,055     $ 123,195     $ 113,933     $ 53,095     $ 105,893     $ 104,438     $ 114,692

Ratio to average net assets of:

                            

Expenses

       0.40 %(d)       0.40 %       0.40 %       0.41 %(e)       0.40 %       0.40 %(d)       0.41 %

Net investment income

       1.53 %(d)       1.01 %       1.06 %       1.42 %(e)       1.19 %       1.33 %(d)       1.02 %

Portfolio turnover rate(f)

       17 %       28 %       33 %       32 %       30 %       9 %       26 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

Ratios include non-recurring costs associated with a proxy statement of 0.01%.

(f)

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.

   
   

 

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Financial Highlights–(continued)

    

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)

 

    

Six Months Ended
October 31,

2022

      Six Months Ended        
April 30,            
  Year Ended October 31,
    Years Ended April 30,
     (Unaudited)   2022   2021   2020   2019   2018   2017

Per Share Operating Performance:

                            

Net asset value at beginning of period

     $ 73.76     $ 81.19     $ 42.63     $ 55.83     $ 54.92       $    52.78       $42.47
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net investment income(a)

       0.53       0.83       0.59       0.62       0.59       0.29       0.47

Net realized and unrealized gain (loss) on investments

       (2.27 )       (7.48 )       38.62       (12.84 )       0.80       2.15       10.27
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Total from investment operations

       (1.74 )       (6.65 )       39.21       (12.22 )       1.39       2.44       10.74
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Distributions to shareholders from:

                            

Net investment income

       (0.50 )       (0.78 )       (0.65 )       (0.98 )       (0.48 )       (0.30)       (0.43)
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Net asset value at end of period

     $ 71.52     $ 73.76     $ 81.19     $ 42.63     $ 55.83       $    54.92       $52.78
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

 

Market price at end of period(b)

     $ 71.58     $ 73.55     $ 81.20     $ 42.39     $ 55.63       $    55.02    
    

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

Net Asset Value Total Return(c)

       (2.33 )%       (8.27 )%       92.69 %       (22.17 )%       2.55 %       4.62%       25.32%

Market Price Total Return(c)

       (1.96 )%       (8.54 )%       93.79 %       (22.33 )%       2.00 %       4.55%    

Ratios/Supplemental Data:

                            

Net assets at end of period (000’s omitted)

     $ 50,066     $ 61,222     $ 58,458     $ 21,316     $ 36,287       $30,208       $31,666

Ratio to average net assets of:

                            

Expenses

       0.40 %(d)       0.40 %       0.40 %       0.42 %(e)       0.40 %       0.40%(d)       0.41 %

Net investment income

       1.49 %(d)       1.01 %       0.99 %       1.20 %(e)       1.05 %       1.10%(d)       0.96 %

Portfolio turnover rate(f)

       19 %       29 %       40 %       42 %       34 %       10%       24 %

 

(a) 

Based on average shares outstanding.

(b) 

The mean between the last bid and ask prices.

(c) 

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.

(d) 

Annualized.

(e) 

Ratios include non-recurring costs associated with a proxy statement of 0.02%.

(f)

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.

   
   

 

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Notes to Financial Statements

Invesco Exchange-Traded Fund Trust

October 31, 2022

(Unaudited)

NOTE 1–Organization

Invesco Exchange-Traded Fund Trust (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 S&P 500® Equal Weight ETF (RSP)

   “S&P 500® Equal Weight ETF”

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)

   “S&P 500® Equal Weight Communication Services ETF”

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)

   “S&P 500® Equal Weight Consumer Discretionary ETF”

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)

   “S&P 500® Equal Weight Consumer Staples ETF”

Invesco S&P 500® Equal Weight Energy ETF (RYE)

   “S&P 500® Equal Weight Energy ETF”

Invesco S&P 500® Equal Weight Financials ETF (RYF)

   “S&P 500® Equal Weight Financials ETF”

Invesco S&P 500® Equal Weight Health Care ETF (RYH)

   “S&P 500® Equal Weight Health Care ETF”

Invesco S&P 500® Equal Weight Industrials ETF (RGI)

   “S&P 500® Equal Weight Industrials ETF”

Invesco S&P 500® Equal Weight Materials ETF (RTM)

   “S&P 500® Equal Weight Materials ETF”

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)

   “S&P 500® Equal Weight Real Estate ETF”

Invesco S&P 500® Equal Weight Technology ETF (RYT)

   “S&P 500® Equal Weight Technology ETF”

Invesco S&P 500® Equal Weight Utilities ETF (RYU)

   “S&P 500® Equal Weight Utilities ETF”

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)

   “S&P MidCap 400® Equal Weight ETF”

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)

   “S&P SmallCap 600® Equal Weight 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 NYSE Arca, 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 (“APs”), the Shares are not individually redeemable securities of the Funds.

The investment objective of each of the Funds 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

S&P 500® Equal Weight ETF

   S&P 500® Equal Weight Index

S&P 500® Equal Weight Communication Services ETF

   S&P 500® Equal Weight Communication Services Plus Index

S&P 500® Equal Weight Consumer Discretionary ETF

   S&P 500® Equal Weight Consumer Discretionary Index

S&P 500® Equal Weight Consumer Staples ETF

   S&P 500® Equal Weight Consumer Staples Index

S&P 500® Equal Weight Energy ETF

   S&P 500® Equal Weight Energy Plus Index

S&P 500® Equal Weight Financials ETF

   S&P 500® Equal Weight Financials Index

S&P 500® Equal Weight Health Care ETF

   S&P 500® Equal Weight Health Care Index

S&P 500® Equal Weight Industrials ETF

   S&P 500® Equal Weight Industrials Index

S&P 500® Equal Weight Materials ETF

   S&P 500® Equal Weight Materials Index

S&P 500® Equal Weight Real Estate ETF

   S&P 500® Equal Weight Real Estate Index

S&P 500® Equal Weight Technology ETF

   S&P 500® Equal Weight Information Technology Index

S&P 500® Equal Weight Utilities ETF

   S&P 500® Equal Weight Utilities Plus Index

S&P MidCap 400® Equal Weight ETF

   S&P MidCap 400® Equal Weight Index

S&P SmallCap 600® Equal Weight ETF

   S&P SmallCap 600® Equal Weight 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.

 

   

 

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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 is generally valued at its trade price or official closing price that day as of the close of the exchange where the security is principally traded or, lacking any trades 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 using prices provided by an independent pricing service they may be considered fair valued. Futures contracts are valued at the daily settlement price set by an exchange on which they are principally traded. U.S. exchange-traded options are valued at the mean between the last bid and asked prices from the exchange on which they are principally traded. Non-U.S. exchange-traded options are valued at the final settlement price set by the exchange on which they trade. Options not listed on an exchange and swaps generally are valued using pricing provided from independent pricing services.

Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company’s end-of-business-day NAV per share.

Deposits, other obligations of U.S. and non-U.S. banks and financial institutions are valued at their daily account value. Fixed income securities (including convertible debt securities) generally are valued on the basis of prices provided by independent pricing services. Prices 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, and their value may be adjusted accordingly. Debt obligations are 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. Invesco Capital Management LLC (the “Adviser”) may use various pricing services to obtain market quotations as well as fair value prices. Because trading hours for certain foreign securities end before the close of the New York Stock Exchange (“NYSE”), closing market quotations may become not representative of market value in the Adviser’s judgment (“unreliable”). If, between the time trading ends on a particular security and the close of the customary trading session on the NYSE, a significant event occurs that makes the closing price of the security unreliable, the Adviser 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 in accordance with Board-approved policies and related Adviser procedures (“Valuation Procedures”). 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 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.

Unlisted securities will be valued using prices provided by independent pricing services or by another method that the Adviser, in its judgment, believes better reflects the security’s fair value in accordance with the Valuation Procedures.

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 are fair valued by the Adviser in accordance with the Valuation Procedures. If a fair value price provided by a pricing service is unreliable, the Adviser will fair value the security using the Valuation Procedures. 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.

 

   

 

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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, significant governmental actions 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.

The price a Fund could receive upon the sale of any investment may differ from the Adviser’s valuation of the investment, particularly for securities that are valued using a fair valuation technique. When fair valuation techniques are applied, the Adviser uses available information, including both observable and unobservable inputs and assumptions, to determine a methodology that will result in a valuation that the Adviser believes approximates market value. Fund securities that are fair valued 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. Because of the inherent uncertainties of valuation, and the degree of subjectivity in such decisions, a Fund could realize a greater or lesser than expected gain or loss upon the sale of the investment.

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. Dividend income from REITs is recorded based on the income included in the distributions received from the REIT investments using published REIT classifications, including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts. 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.

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, the country that has the primary market for the issuer’s securities and its “country of risk” as determined by a third party service provider, 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 requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), necessary to qualify as a regulated investment company and to distribute

 

   

 

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  substantially all of the Fund’s taxable earnings to shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized capital gain) that is distributed to 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.

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 1940 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

 

   

 

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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.

Invesco Advisers, Inc. (“Invesco”), an affiliate of the Adviser, serves as an affiliated securities lending agent for each Fund participating in the securities lending program. The Bank of New York Mellon (“BNYM”) also serves as a lending agent. 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 six months ended October 31, 2022, each Fund had affiliated securities lending transactions with Invesco. Fees paid to Invesco for securities lending agent services, which are included in Securities lending income on the Statements of Operations, were incurred by each Fund as listed below:

 

     Amount  

S&P 500® Equal Weight ETF

     $60,080  

S&P 500® Equal Weight Communication Services ETF

     160  

S&P 500® Equal Weight Consumer Discretionary ETF

     1,944  

S&P 500® Equal Weight Consumer Staples ETF

     869  

S&P 500® Equal Weight Energy ETF

     554  

S&P 500® Equal Weight Financials ETF

     418  

S&P 500® Equal Weight Health Care ETF

     411  

S&P 500® Equal Weight Industrials ETF

     1,226  

S&P 500® Equal Weight Materials ETF

     718  

S&P 500® Equal Weight Real Estate ETF

     186  

S&P 500® Equal Weight Technology ETF

     2,297  

S&P 500® Equal Weight Utilities ETF

     671  

S&P MidCap 400® Equal Weight ETF

     2,587  

S&P SmallCap 600® Equal Weight ETF

     1,006  

J. Other Risks

AP Concentration Risk. Only 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 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 or could experience extended market closures or trading halts, may increase the risk that APs may not be able to effectively create or redeem Creation Units or the risk that the Shares may be halted and/or delisted.

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.

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.

 

   

 

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Industry Concentration Risk. In following its methodology, each Fund’s Underlying Index from time to time may be concentrated to a significant degree in securities of issuers operating in a single industry or industry group. To the extent that each Underlying Index concentrates in the securities of issuers in a particular industry or industry group, 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 may face 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.

Market Risk. Securities in each 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 an 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-Diversified Fund Risk. Because S&P 500® Equal Weight Communication Services ETF is non-diversified, and to the extent certain Funds become non-diversified, and can invest a greater portion of their assets in securities of individual issuers than can a diversified fund, 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 a Fund’s volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund’s performance.

REIT Risk. REITs are pooled investment vehicles that trade like stocks and invest substantially all of their assets in real estate and may qualify for special tax considerations. REITs are subject to certain risks inherent in the direct ownership of real estate, including without limitation, a possible lack of mortgage funds and associated interest rate risks, overbuilding, property vacancies, increases in property taxes and operating expenses, changes in zoning laws, losses due to environmental damages and changes in neighborhood values and appeal to purchasers. Further, failure of a company to qualify as a REIT under federal tax law may have adverse consequences to the REIT’s shareholders. In addition, REITs may have expenses, including advisory and administration expenses, and REIT shareholders will incur a proportionate share of the underlying expenses.

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.

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 (including business closures) and supply chains, layoffs, lower consumer demand and employee availability, and defaults and credit downgrades, 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 and cause general concern and uncertainty. The full economic impact and ongoing effects of COVID-19 (or other future epidemics or pandemics) at the macro-level and on individual businesses 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

 

   

 

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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)

S&P 500® Equal Weight ETF

   0.20%

S&P 500® Equal Weight Communication Services ETF

   0.40%

S&P 500® Equal Weight Consumer Discretionary ETF

   0.40%

S&P 500® Equal Weight Consumer Staples ETF

   0.40%

S&P 500® Equal Weight Energy ETF

   0.40%

S&P 500® Equal Weight Financials ETF

   0.40%

S&P 500® Equal Weight Health Care ETF

   0.40%

S&P 500® Equal Weight Industrials ETF

   0.40%

S&P 500® Equal Weight Materials ETF

   0.40%

S&P 500® Equal Weight Real Estate ETF

   0.40%

S&P 500® Equal Weight Technology ETF

   0.40%

S&P 500® Equal Weight Utilities ETF

   0.40%

S&P MidCap 400® Equal Weight ETF

   0.40%

S&P SmallCap 600® Equal Weight ETF

   0.40%

Further, through at least August 31, 2024, 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. This waiver does 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. This agreement is not subject to recapture by the Adviser.

For the six months ended October 31, 2022, the Adviser waived fees for each Fund in the following amounts:

 

S&P 500® Equal Weight ETF

   $ 5,605  

S&P 500® Equal Weight Communication Services ETF

     11  

S&P 500® Equal Weight Consumer Discretionary ETF

     132  

S&P 500® Equal Weight Consumer Staples ETF

     129  

S&P 500® Equal Weight Energy ETF

     189  

S&P 500® Equal Weight Financials ETF

     115  

S&P 500® Equal Weight Health Care ETF

     239  

S&P 500® Equal Weight Industrials ETF

     96  

S&P 500® Equal Weight Materials ETF

     172  

S&P 500® Equal Weight Real Estate ETF

     31  

S&P 500® Equal Weight Technology ETF

     327  

S&P 500® Equal Weight Utilities ETF

     175  

S&P MidCap 400® Equal Weight ETF

     41  

S&P SmallCap 600® Equal Weight ETF

     19  

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 licensing agreements on behalf of each Fund with S&P Dow Jones Indices LLC (the “Licensor”).

Each Underlying Index name trademark is owned by the 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 Licensor, and the Licensor makes no representation regarding the advisability of investing in any of the Funds.

The Trust has entered into service agreements whereby BNYM, 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.

 

   

 

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For the six months ended October 31, 2022, the following Funds incurred brokerage commissions with Invesco Capital Markets, Inc. (“ICMI”), an affiliate of the Adviser and Distributor, for portfolio transactions executed on behalf of the Funds, as listed below:

 

S&P 500® Equal Weight ETF

   $ 532,275  

S&P 500® Equal Weight Communication Services ETF

     910  

S&P 500® Equal Weight Consumer Discretionary ETF

     3,327  

S&P 500® Equal Weight Consumer Staples ETF

     3,680  

S&P 500® Equal Weight Energy ETF

     16,920  

S&P 500® Equal Weight Financials ETF

     5,853  

S&P 500® Equal Weight Health Care ETF

     7,411  

S&P 500® Equal Weight Industrials ETF

     3,502  

S&P 500® Equal Weight Materials ETF

     6,219  

S&P 500® Equal Weight Real Estate ETF

     2,764  

S&P 500® Equal Weight Technology ETF

     25,528  

S&P 500® Equal Weight Utilities ETF

     10,795  

S&P MidCap 400® Equal Weight ETF

     6,379  

S&P SmallCap 600® Equal Weight ETF

     3,199  

Portfolio transactions with ICMI that have not settled at period-end, if any, are shown in the Statements of Assets and Liabilities under the receivable caption Investments sold - affiliated broker and/or payable caption Investments purchased - affiliated broker.

NOTE 4–Security Transactions with Affiliated Funds

Each Fund is permitted to purchase securities from or sell securities to certain other affiliated funds under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by each Invesco ETF from or to another fund that is or could be considered an “affiliated person” by virtue of having a common investment adviser (or affiliated investment advisers), common Trustees and/or common officers is made in reliance on Rule 17a-7 of the 1940 Act and, to the extent applicable, related SEC staff positions. Each such transaction is effected at the security’s “current market price”, as provided for in these procedures and Rule 17a-7.

For the six months ended October 31, 2022, the following Funds engaged in transactions with affiliates as listed below:

 

    

Securities Purchases

  

Securities Sales

  

Net Realized Gains (Losses)*

S&P 500® Equal Weight ETF

     $ 68,154,386      $ -      $ -

S&P 500® Equal Weight Energy ETF

       11,130,781        -        -

S&P MidCap 400® Equal Weight ETF

       716,440        1,201,727        (290,800 )

S&P SmallCap 600® Equal Weight ETF

       278,688        154,956        39,404

 

*

Net realized gains (losses) from securities sold to affiliates are included in net realized gain (loss) from investment securities in the Statements of Operations.

NOTE 5–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. 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 the Adviser’s 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, 2022. 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

 

   

 

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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  

S&P 500® Equal Weight ETF

                    

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 30,867,342,086      $ -       $-             $ 30,867,342,086  

Money Market Funds

     2,037,687        1,771,953,689       -          1,773,991,376  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 30,869,379,773      $ 1,771,953,689            $-        $ 32,641,333,462  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Communication Services ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 30,838,364      $ -       $-        $ 30,838,364  

Money Market Funds

     1,868,646        2,167,013       -          4,035,659  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 32,707,010      $ 2,167,013       $-        $ 34,874,023  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Consumer Discretionary ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 355,050,685      $ -       $-        $ 355,050,685  

Money Market Funds

     -        35,819,873      

-

         35,819,873  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 355,050,685      $ 35,819,873       $-        $ 390,870,558  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Consumer Staples ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 658,475,157      $ -       $-        $ 658,475,157  

Money Market Funds

     159,115        32,746,511      

-

         32,905,626  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 658,634,272      $ 32,746,511       $-        $ 691,380,783  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Energy ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 587,196,922      $ -       $-        $ 587,196,922  

Money Market Funds

     -        43,395,364       -          43,395,364  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 587,196,922      $ 43,395,364       $-        $ 630,592,286  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Financials ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 413,064,277      $ -       $-        $ 413,064,277  

Money Market Funds

     -        7,760,356       -          7,760,356  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 413,064,277      $ 7,760,356       $-        $ 420,824,633  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Health Care ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 928,775,466      $ -       $-        $ 928,775,466  

Money Market Funds

     399,420        31,965,134       -          32,364,554  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 929,174,886      $ 31,965,134       $-        $ 961,140,020  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Industrials ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 313,724,758      $ -       $-        $ 313,724,758  

Money Market Funds

     72,927        19,627,561       -          19,700,488  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 313,797,685      $ 19,627,561       $-        $ 333,425,246  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Materials ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 344,501,867      $ -       $-        $ 344,501,867  

Money Market Funds

     94,673        25,415,055       -          25,509,728  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 344,596,540      $ 25,415,055       $-        $ 370,011,595  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Real Estate ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 104,589,436      $ -       $-        $ 104,589,436  

Money Market Funds

     83,571        3,537,212       -          3,620,783  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 104,673,007      $ 3,537,212       $-        $ 108,210,219  
  

 

 

    

 

 

     

 

      

 

 

 

 

   

 

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     Level 1      Level 2    

Level 3

       Total  

S&P 500® Equal Weight Technology ETF

                    

Investments in Securities

                

Common Stocks & Other Equity Interests

   $   1,974,874,921      $ -       $-        $   1,974,874,921  

Money Market Funds

     1,449,262        156,265,912       -          157,715,174  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 1,976,324,183      $ 156,265,912       $-        $ 2,132,590,095  
  

 

 

    

 

 

     

 

      

 

 

 

S&P 500® Equal Weight Utilities ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 390,514,691      $ -       $-        $ 390,514,691  

Money Market Funds

     24,776        17,685,228       -          17,710,004  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 390,539,467      $ 17,685,228       $-        $ 408,224,695  
  

 

 

    

 

 

     

 

      

 

 

 

S&P MidCap 400® Equal Weight ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 116,945,834      $ -       $-        $ 116,945,834  

Money Market Funds

     96,893        35,186,515       -          35,283,408  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 117,042,727      $ 35,186,515       $-        $ 152,229,242  
  

 

 

    

 

 

     

 

      

 

 

 

S&P SmallCap 600® Equal Weight ETF

                

Investments in Securities

                

Common Stocks & Other Equity Interests

   $ 50,052,848      $ -       $-        $ 50,052,848  

Money Market Funds

     -        15,659,334       -          15,659,334  
  

 

 

    

 

 

     

 

      

 

 

 

Total Investments

   $ 50,052,848      $ 15,659,334       $-        $ 65,712,182  
  

 

 

    

 

 

     

 

      

 

 

 

NOTE 6–Tax Information

The amount and character of income and gains to be distributed are determined in accordance with federal income tax regulations, which may differ from GAAP. Reclassifications are made to the Funds’ capital accounts to reflect income and gains available for distribution (or available capital loss carryforwards) under federal income tax regulations. The tax character of distributions paid during the year and the tax components of net assets will be reported at the Funds’ fiscal year-end.

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 had capital loss carryforwards as of April 30, 2022, as follows:

 

     No expiration         
     Short-Term      Long-Term      Total*  

S&P 500® Equal Weight ETF

   $ 421,732,928      $ 1,935,588,850      $ 2,357,321,778  

S&P 500® Equal Weight Communication Services ETF

     853,534        683,361        1,536,895  

S&P 500® Equal Weight Consumer Discretionary ETF

     11,079,764        29,490,245        40,570,009  

S&P 500® Equal Weight Consumer Staples ETF

     9,858,678        61,996,330        71,855,008  

S&P 500® Equal Weight Energy ETF

     27,995,785        139,547,789        167,543,574  

S&P 500® Equal Weight Financials ETF

     6,725,173        28,064,254        34,789,427  

S&P 500® Equal Weight Health Care ETF

     10,032,742        76,650,165        86,682,907  

S&P 500® Equal Weight Industrials ETF

     8,844,627        23,214,347        32,058,974  

S&P 500® Equal Weight Materials ETF

     5,973,047        19,410,072        25,383,119  

S&P 500® Equal Weight Real Estate ETF

     436,802        863,577        1,300,379  

S&P 500® Equal Weight Technology ETF

     44,346,756        103,648,760        147,995,516  

S&P 500® Equal Weight Utilities ETF

     11,627,561        17,789,077        29,416,638  

S&P MidCap 400® Equal Weight ETF

     10,606,463        17,741,440        28,347,903  

S&P SmallCap 600® Equal Weight ETF

     9,980,801        12,566,370        22,547,171  

 

*

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 avariety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization.

 

   

 

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NOTE 7–Investment Transactions

For the six months ended October 31, 2022, 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  

S&P 500® Equal Weight ETF

   $ 3,328,212,061        $ 3,325,211,874  

S&P 500® Equal Weight Communication Services ETF

     5,416,805        5,411,216  

S&P 500® Equal Weight Consumer Discretionary ETF

     42,099,213        42,120,934  

S&P 500® Equal Weight Consumer Staples ETF

     57,712,337        59,220,583  

S&P 500® Equal Weight Energy ETF

     75,084,093        66,112,319  

S&P 500® Equal Weight Financials ETF

     42,086,747        42,003,949  

S&P 500® Equal Weight Health Care ETF

     93,301,918        93,167,742  

S&P 500® Equal Weight Industrials ETF

     29,009,331        29,135,355  

S&P 500® Equal Weight Materials ETF

     44,881,920        44,540,281  

S&P 500® Equal Weight Real Estate ETF

     21,477,325        21,365,566  

S&P 500® Equal Weight Technology ETF

     224,593,985        225,442,363  

S&P 500® Equal Weight Utilities ETF

     28,618,231        28,227,748  

S&P MidCap 400® Equal Weight ETF

     19,930,660        19,885,150  

S&P SmallCap 600® Equal Weight ETF

     9,930,552        9,889,760  

For the six months ended October 31, 2022, in-kind transactions associated with creations and redemptions were as follows:

 

     In-kind
Purchases
     In-kind
Sales
 

S&P 500® Equal Weight ETF

   $ 3,876,913,145      $ 3,570,262,736  

S&P 500® Equal Weight Communication Services ETF

     4,130,042        6,762,790  

S&P 500® Equal Weight Consumer Discretionary ETF

     243,234,389        216,750,089  

S&P 500® Equal Weight Consumer Staples ETF

     205,451,409        108,061,605  

S&P 500® Equal Weight Energy ETF

     202,346,869        228,556,060  

S&P 500® Equal Weight Financials ETF

     43,135,140        103,928,385  

S&P 500® Equal Weight Health Care ETF

     65,595,363        19,436,058  

S&P 500® Equal Weight Industrials ETF

     38,247,332        119,300,190  

S&P 500® Equal Weight Materials ETF

     116,025,448        265,501,782  

S&P 500® Equal Weight Real Estate ETF

     8,883,450        44,077,132  

S&P 500® Equal Weight Technology ETF

     533,628,135        599,112,652  

S&P 500® Equal Weight Utilities ETF

     149,129,264        59,434,697  

S&P MidCap 400® Equal Weight ETF

     8,437,535        11,304,589  

S&P SmallCap 600® Equal Weight ETF

     2,063,619        11,105,828  

Gains (losses) on in-kind transactions are generally not considered taxable gains (losses) for federal income tax purposes.

As of October 31, 2022, 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
(Depreciation)
    Cost  

S&P 500® Equal Weight ETF

   $ 2,438,467,481      $ (3,589,356,816   $ (1,150,889,335   $ 33,792,222,797  

S&P 500® Equal Weight Communication Services ETF

     240,524        (13,276,134     (13,035,610     47,909,633  

S&P 500® Equal Weight Consumer Discretionary ETF

     6,684,489        (91,580,530     (84,896,041     475,766,599  

S&P 500® Equal Weight Consumer Staples ETF

     59,440,447        (21,818,950     37,621,497       653,759,286  

S&P 500® Equal Weight Energy ETF

     111,023,712        (8,075,111     102,948,601       527,643,685  

S&P 500® Equal Weight Financials ETF

     24,750,076        (52,213,751     (27,463,675     448,288,308  

S&P 500® Equal Weight Health Care ETF

     155,649,596        (80,459,190     75,190,406       885,949,614  

S&P 500® Equal Weight Industrials ETF

     13,948,108        (39,689,513     (25,741,405     359,166,651  

S&P 500® Equal Weight Materials ETF

     10,245,090        (75,261,230     (65,016,140     435,027,735  

S&P 500® Equal Weight Real Estate ETF

     463,382        (30,775,819     (30,312,437     138,522,656  

 

   
   

 

  84   

   
 


 

     Gross
Unrealized
Appreciation
     Gross
Unrealized
(Depreciation)
    Net
Unrealized
Appreciation
(Depreciation)
    Cost  

S&P 500® Equal Weight Technology ETF

   $ 107,821,853      $ (245,046,658   $ (137,224,805   $   2,269,814,900  

S&P 500® Equal Weight Utilities ETF

     13,249,696        (25,763,088     (12,513,392     420,738,087  

S&P MidCap 400® Equal Weight ETF

     12,109,024        (13,058,279     (949,255     153,178,497  

S&P SmallCap 600® Equal Weight ETF

     2,740,197        (12,820,143     (10,079,946     75,792,128  

NOTE 8–Trustees’ and Officer’s Fees

The Adviser, as a result of each Fund’s unitary management fee, pays remuneration to the Independent Trustees and an Officer of the Trust on behalf of 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 APs 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 AP 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 AP, notwithstanding the fact that the corresponding Deposit Securities have not been received in part or in whole, in reliance on the undertaking of the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by the AP’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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Calculating your ongoing Fund expenses

    

    

 

Example

As a shareholder of a Fund of the Invesco Exchange-Traded Fund Trust, 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, 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 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, 2022 through October 31, 2022.

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, if these transactional costs were included, your costs would have been higher.

 

     Beginning
Account Value
May 1, 2022
   Ending
Account Value
October 31, 2022
   Annualized
Expense Ratio
Based on the
Six-Month Period
  Expenses Paid
During the
Six-Month Period(1)

Invesco S&P 500® Equal Weight ETF (RSP)

                  

Actual

       $1,000.00        $ 955.80        0.20%       $0.99

Hypothetical (5% return before expenses)

       1,000.00        1,024.20        0.20       1.02

Invesco S&P 500® Equal Weight Communication Services ETF (EWCO)

                  

Actual

       1,000.00        869.20        0.40       1.88

Hypothetical (5% return before expenses)

       1,000.00        1,023.19        0.40       2.04

Invesco S&P 500® Equal Weight Consumer Discretionary ETF (RCD)

                  

Actual

       1,000.00        908.30        0.40       1.92

Hypothetical (5% return before expenses)

       1,000.00        1,023.19        0.40       2.04

Invesco S&P 500® Equal Weight Consumer Staples ETF (RHS)

                  

Actual

       1,000.00        976.40        0.40       1.99

Hypothetical (5% return before expenses)

       1,000.00        1,023.19        0.40       2.04

Invesco S&P 500® Equal Weight Energy ETF (RYE)

                  

Actual

       1,000.00        1,172.60        0.40       2.19

Hypothetical (5% return before expenses)

       1,000.00        1,023.19        0.40       2.04

 

   
   

 

  86   

   
 


 

Calculating your ongoing Fund expenses–(continued)

    

    

 

     Beginning
Account Value
May 1, 2022
   Ending
Account Value
October 31, 2022
   Annualized
Expense Ratio
Based on the
Six-Month Period
    Expenses Paid
During the
Six-Month Period(1)
 

Invesco S&P 500® Equal Weight Financials ETF (RYF)

          

Actual

     $1,000.00        $    992.90        0.40%       $2.01    

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Health Care ETF (RYH)

          

Actual

     1,000.00        982.00        0.40       2.00  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Industrials ETF (RGI)

          

Actual

     1,000.00        990.50        0.40       2.01  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Materials ETF (RTM)

          

Actual

     1,000.00        867.90        0.40       1.88  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Real Estate ETF (EWRE)

          

Actual

     1,000.00        806.30        0.40       1.82  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Technology ETF (RYT)

          

Actual

     1,000.00        947.40        0.40       1.96  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P 500® Equal Weight Utilities ETF (RYU)

          

Actual

     1,000.00        958.70        0.40       1.97  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P MidCap 400® Equal Weight ETF (EWMC)

          

Actual

     1,000.00        984.50        0.40       2.00  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

Invesco S&P SmallCap 600® Equal Weight ETF (EWSC)

          

Actual

     1,000.00        976.70        0.40       1.99  

Hypothetical (5% return before expenses)

     1,000.00        1,023.19        0.40       2.04  

 

(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, 2022. 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.

 

   

 

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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.


 

 

 

 

 

 

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