|
Invesco Semi-Annual Report to Shareholders | |||
February 28, 2022
| ||||
DEF
|
Invesco Defensive Equity ETF
| |||
ISDX
|
Invesco RAFITM Strategic Developed ex-US ETF
| |||
ISEM
|
Invesco RAFITM Strategic Emerging Markets ETF
| |||
IUS
|
Invesco RAFITM Strategic US ETF
| |||
IUSS | Invesco RAFITM Strategic US Small Company ETF |
Schedules of Investments | ||||||
3 | ||||||
6 | ||||||
16 | ||||||
22 | ||||||
29 | ||||||
Statements of Assets and Liabilities | 41 | |||||
Statements of Operations | 42 | |||||
Statements of Changes in Net Assets | 44 | |||||
Financial Highlights | 46 | |||||
Notes to Financial Statements | 51 | |||||
Fund Expenses | 62 |
2 | ||||
|
| |||
Invesco Defensive Equity ETF (DEF)
February 28, 2022
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.86% |
| |||||||
Communication Services-4.51% |
||||||||
AT&T, Inc. |
128,068 | $ | 3,033,931 | |||||
Omnicom Group, Inc. |
42,391 | 3,556,181 | ||||||
T-Mobile US, Inc.(b) |
25,853 | 3,185,348 | ||||||
Verizon Communications, Inc. |
58,769 | 3,154,132 | ||||||
|
|
|||||||
12,929,592 | ||||||||
|
|
|||||||
Consumer Discretionary-10.09% |
||||||||
AutoZone, Inc.(b) |
1,486 | 2,768,998 | ||||||
Dollar General Corp. |
13,413 | 2,660,334 | ||||||
Domino’s Pizza, Inc. |
5,587 | 2,414,757 | ||||||
Genuine Parts Co. |
22,241 | 2,716,961 | ||||||
Hasbro, Inc. |
29,535 | 2,866,372 | ||||||
Home Depot, Inc. (The) |
7,213 | 2,278,082 | ||||||
LKQ Corp. |
51,414 | 2,413,887 | ||||||
McDonald’s Corp. |
11,430 | 2,797,721 | ||||||
NIKE, Inc., Class B |
17,421 | 2,378,838 | ||||||
O’Reilly Automotive, Inc.(b) |
4,423 | 2,871,588 | ||||||
Yum! Brands, Inc. |
22,514 | 2,759,766 | ||||||
|
|
|||||||
28,927,304 | ||||||||
|
|
|||||||
Consumer Staples-12.69% |
||||||||
Archer-Daniels-Midland Co. |
46,451 | 3,644,081 | ||||||
Church & Dwight Co., Inc. |
31,239 | 3,056,736 | ||||||
Clorox Co. (The) |
17,692 | 2,579,317 | ||||||
Colgate-Palmolive Co. |
38,150 | 2,935,642 | ||||||
Costco Wholesale Corp. |
5,627 | 2,921,820 | ||||||
Hershey Co. (The) |
16,263 | 3,289,354 | ||||||
Kellogg Co. |
47,838 | 3,058,762 | ||||||
McCormick & Co., Inc. |
33,466 | 3,184,959 | ||||||
Monster Beverage Corp.(b) |
33,369 | 2,816,344 | ||||||
PepsiCo, Inc. |
17,814 | 2,916,864 | ||||||
Procter & Gamble Co. (The) |
19,465 | 3,034,399 | ||||||
Walmart, Inc. |
21,629 | 2,923,376 | ||||||
|
|
|||||||
36,361,654 | ||||||||
|
|
|||||||
Financials-8.91% |
||||||||
Allstate Corp. (The) |
27,318 | 3,342,630 | ||||||
Brown & Brown, Inc. |
43,853 | 2,964,901 | ||||||
Globe Life, Inc. |
32,207 | 3,251,619 | ||||||
Intercontinental Exchange, Inc. |
21,897 | 2,805,444 | ||||||
JPMorgan Chase & Co. |
18,476 | 2,619,897 | ||||||
Moody’s Corp. |
7,468 | 2,404,920 | ||||||
Nasdaq, Inc. |
14,314 | 2,449,841 | ||||||
S&P Global, Inc. |
6,279 | 2,359,020 | ||||||
Travelers Cos., Inc. (The) |
19,320 | 3,319,756 | ||||||
|
|
|||||||
25,518,028 | ||||||||
|
|
|||||||
Health Care-22.93% |
||||||||
Abbott Laboratories |
22,416 | 2,703,818 | ||||||
AbbVie, Inc. |
24,362 | 3,599,973 | ||||||
Agilent Technologies, Inc. |
18,987 | 2,475,145 | ||||||
AmerisourceBergen Corp. |
24,551 | 3,499,254 | ||||||
Amgen, Inc. |
13,901 | 3,148,298 | ||||||
Baxter International, Inc. |
36,808 | 3,127,576 | ||||||
Becton, Dickinson and Co. |
12,077 | 3,276,248 | ||||||
Bristol-Myers Squibb Co. |
51,520 | 3,537,878 | ||||||
Cardinal Health, Inc. |
61,481 | 3,320,589 | ||||||
Cooper Cos., Inc. (The) |
7,154 | 2,926,129 |
Shares | Value | |||||||
Health Care-(continued) |
||||||||
Edwards Lifesciences Corp.(b) |
24,848 | $ | 2,792,170 | |||||
Gilead Sciences, Inc. |
42,577 | 2,571,651 | ||||||
HCA Healthcare, Inc. |
12,399 | 3,103,594 | ||||||
IQVIA Holdings, Inc.(b) |
10,909 | 2,510,379 | ||||||
Johnson & Johnson |
18,067 | 2,973,286 | ||||||
Laboratory Corp. of America Holdings(b) |
10,010 | 2,715,313 | ||||||
McKesson Corp. |
13,092 | 3,599,776 | ||||||
Mettler-Toledo International, Inc.(b) |
1,887 | 2,658,292 | ||||||
Stryker Corp. |
11,362 | 2,992,183 | ||||||
Waters Corp.(b) |
8,608 | 2,726,412 | ||||||
Zimmer Biomet Holdings, Inc. |
23,110 | 2,939,361 | ||||||
Zoetis, Inc. |
12,938 | 2,505,444 | ||||||
|
|
|||||||
65,702,769 | ||||||||
|
|
|||||||
Industrials-17.05% |
||||||||
3M Co. |
16,861 | 2,506,388 | ||||||
Allegion PLC |
22,399 | 2,565,134 | ||||||
CSX Corp. |
80,306 | 2,723,176 | ||||||
Cummins, Inc. |
13,446 | 2,744,598 | ||||||
Dover Corp. |
17,273 | 2,709,443 | ||||||
Expeditors International of Washington, Inc. |
23,162 | 2,394,024 | ||||||
IDEX Corp. |
12,530 | 2,404,507 | ||||||
Illinois Tool Works, Inc. |
12,328 | 2,667,040 | ||||||
Jacobs Engineering Group, Inc. |
20,551 | 2,527,773 | ||||||
Leidos Holdings, Inc. |
32,810 | 3,341,370 | ||||||
Lockheed Martin Corp. |
8,715 | 3,780,567 | ||||||
Norfolk Southern Corp. |
10,393 | 2,666,012 | ||||||
Northrop Grumman Corp. |
8,192 | 3,622,011 | ||||||
Raytheon Technologies Corp. |
34,299 | 3,522,507 | ||||||
Roper Technologies, Inc. |
6,293 | 2,820,648 | ||||||
Snap-on, Inc. |
13,832 | 2,907,210 | ||||||
Union Pacific Corp. |
12,045 | 2,962,468 | ||||||
|
|
|||||||
48,864,876 | ||||||||
|
|
|||||||
Information Technology-6.41% |
||||||||
Accenture PLC, Class A |
7,932 | 2,506,671 | ||||||
Broadridge Financial Solutions, Inc. |
17,134 | 2,505,162 | ||||||
International Business Machines Corp. |
24,118 | 2,954,696 | ||||||
Keysight Technologies, Inc.(b) |
14,686 | 2,311,136 | ||||||
Microsoft Corp. |
8,860 | 2,647,279 | ||||||
Motorola Solutions, Inc. |
11,709 | 2,581,015 | ||||||
Paychex, Inc. |
24,115 | 2,871,132 | ||||||
|
|
|||||||
18,377,091 | ||||||||
|
|
|||||||
Materials-5.70% |
||||||||
Air Products and Chemicals, Inc. |
10,046 | 2,373,870 | ||||||
Avery Dennison Corp. |
13,784 | 2,428,741 | ||||||
Corteva, Inc. |
61,680 | 3,209,210 | ||||||
Linde PLC (United Kingdom) |
8,903 | 2,610,716 | ||||||
Packaging Corp. of America |
22,437 | 3,302,502 | ||||||
PPG Industries, Inc. |
18,018 | 2,404,502 | ||||||
|
|
|||||||
16,329,541 | ||||||||
|
|
|||||||
Real Estate-5.46% |
||||||||
Alexandria Real Estate Equities, Inc. |
13,973 | 2,646,486 | ||||||
American Tower Corp. |
10,801 | 2,450,423 | ||||||
Duke Realty Corp. |
47,979 | 2,542,887 | ||||||
Extra Space Storage, Inc. |
14,190 | 2,669,849 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
3 | ||||
|
| |||
Invesco Defensive Equity ETF (DEF)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Real Estate-(continued) |
||||||||
Prologis, Inc. |
18,610 | $ | 2,714,268 | |||||
Regency Centers Corp. |
39,910 | 2,629,670 | ||||||
|
|
|||||||
15,653,583 | ||||||||
|
|
|||||||
Utilities-6.11% |
||||||||
Constellation Energy Corp. |
18,501 | 850,676 | ||||||
Edison International |
44,376 | 2,814,326 | ||||||
Entergy Corp. |
28,232 | 2,970,289 | ||||||
Evergy, Inc. |
44,345 | 2,767,571 | ||||||
Eversource Energy |
33,957 | 2,777,682 | ||||||
Exelon Corp. |
55,523 | 2,363,059 | ||||||
Xcel Energy, Inc. |
44,230 | 2,978,006 | ||||||
|
|
|||||||
17,521,609 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
286,186,047 | |||||||
|
|
Shares | Value | |||||||
Money Market Funds-0.04% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(c)(d) |
110,116 | $ | 110,116 | |||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-99.90% |
|
286,296,163 | ||||||
OTHER ASSETS LESS LIABILITIES-0.10% |
|
279,638 | ||||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 286,575,801 | ||||||
|
|
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 February 28, 2022. |
Value August 31, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation |
Realized Gain (Loss) |
Value February 28, 2022 |
Dividend Income | |||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|||||||||||||||||||||||||||||||||||
Invesco Government &
Agency Portfolio, Institutional Class |
$ | 242,808 | $ | 4,749,473 | $ | (4,882,165 | ) | $ | - | $ | - | $ | 110,116 | $ | 34 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
|||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | - | 4,380,200 | (4,380,200 | ) | - | - | - | 6 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | - | 10,220,424 | (10,220,028 | ) | - | (396 | ) | - | 79 | * | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 242,808 | $ | 19,350,097 | $ | (19,482,393 | ) | $ | - | $ | (396 | ) | $ | 110,116 | $ | 119 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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 February 28, 2022.
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
4 | ||||
|
| |||
Invesco Defensive Equity ETF (DEF)–(continued)
February 28, 2022
(Unaudited)
Portfolio Composition
Sector Breakdown (% of the Fund’s Net Assets) as of February 28, 2022 |
| |||||||
Health Care |
22.93 | |||||||
Industrials |
17.05 | |||||||
Consumer Staples |
12.69 | |||||||
Consumer Discretionary |
10.09 | |||||||
Financials |
8.91 | |||||||
Information Technology |
6.41 | |||||||
Utilities |
6.11 | |||||||
Materials |
5.70 | |||||||
Real Estate |
5.46 | |||||||
Communication Services |
4.51 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
0.14 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
5 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)
February 28, 2022
(Unaudited)
Schedule of Investments
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.68% |
| |||||||
Australia-5.18% |
||||||||
AGL Energy Ltd. |
45,578 | $ | 248,714 | |||||
Ampol Ltd. |
9,091 | 194,410 | ||||||
Aristocrat Leisure Ltd. |
2,800 | 75,726 | ||||||
Aurizon Holdings Ltd. |
63,346 | 160,885 | ||||||
BHP Group Ltd. |
78,265 | 2,649,962 | ||||||
BlueScope Steel Ltd. |
12,212 | 179,360 | ||||||
Boral Ltd. |
17,657 | 46,510 | ||||||
Brambles Ltd. |
26,639 | 191,373 | ||||||
Coles Group Ltd. |
29,144 | 367,558 | ||||||
Computershare Ltd. |
6,235 | 97,999 | ||||||
Crown Resorts Ltd.(a) |
8,094 | 72,713 | ||||||
CSL Ltd. |
1,557 | 293,735 | ||||||
Downer EDI Ltd. |
27,170 | 99,368 | ||||||
Endeavour Group Ltd. |
21,331 | 110,829 | ||||||
Fortescue Metals Group Ltd. |
17,122 | 225,506 | ||||||
Glencore PLC |
472,244 | 2,801,611 | ||||||
Incitec Pivot Ltd. |
58,220 | 130,544 | ||||||
JB Hi-Fi Ltd. |
2,030 | 72,637 | ||||||
Lendlease Corp. Ltd. |
20,698 | 158,606 | ||||||
Metcash Ltd.(b) |
40,274 | 120,406 | ||||||
Newcrest Mining Ltd. |
9,924 | 184,859 | ||||||
OceanaGold Corp.(a) |
40,371 | 76,073 | ||||||
Orica Ltd. |
9,393 | 99,446 | ||||||
Origin Energy Ltd. |
78,262 | 323,708 | ||||||
Orora Ltd. |
29,652 | 80,258 | ||||||
Qantas Airways Ltd.(a)(b) |
44,229 | 162,721 | ||||||
Ramsay Health Care Ltd. |
3,050 | 141,581 | ||||||
Rio Tinto Ltd. |
28,495 | 2,443,449 | ||||||
Rio Tinto PLC |
26,826 | 2,084,401 | ||||||
Santos Ltd. |
37,113 | 195,519 | ||||||
Sonic Healthcare Ltd. |
4,969 | 126,382 | ||||||
South32 Ltd. |
157,076 | 548,254 | ||||||
Tabcorp Holdings Ltd. |
28,859 | 104,498 | ||||||
Telstra Corp. Ltd. |
336,055 | 965,679 | ||||||
Treasury Wine Estates Ltd. |
10,574 | 89,161 | ||||||
Wesfarmers Ltd. |
19,510 | 682,247 | ||||||
Woolworths Group Ltd. |
21,331 | 549,344 | ||||||
|
|
| ||||||
17,156,032 | ||||||||
|
|
| ||||||
Austria-0.31% |
||||||||
ams-OSRAM AG(a) |
4,028 | 62,959 | ||||||
ANDRITZ AG(b) |
1,514 | 68,021 | ||||||
Mondi PLC(b) |
9,522 | 200,777 | ||||||
OMV AG |
4,973 | 236,721 | ||||||
UNIQA Insurance Group AG |
12,900 | 104,323 | ||||||
Verbund AG |
832 | 100,926 | ||||||
voestalpine AG(b) |
5,312 | 175,652 | ||||||
Wienerberger AG |
2,204 | 66,295 | ||||||
|
|
| ||||||
1,015,674 | ||||||||
|
|
| ||||||
Belgium-0.86% |
||||||||
Anheuser-Busch InBev S.A./N.V. |
33,226 | 2,057,795 | ||||||
Etablissements Franz Colruyt N.V. |
1,182 | 47,369 | ||||||
Groupe Bruxelles Lambert S.A. |
1,434 | 149,696 | ||||||
Proximus SADP(b) |
5,526 | 110,233 | ||||||
Solvay S.A., Class A |
1,763 | 197,466 |
Shares | Value | |||||||
Belgium-(continued) |
||||||||
UCB S.A. |
1,518 | $ | 166,580 | |||||
Umicore S.A. |
2,741 | 112,957 | ||||||
|
|
| ||||||
2,842,096 | ||||||||
|
|
| ||||||
Brazil-0.06% |
||||||||
Yara International ASA |
4,101 | 208,929 | ||||||
|
|
| ||||||
Burkina Faso-0.03% |
||||||||
Endeavour Mining PLC |
4,338 | 114,508 | ||||||
|
|
| ||||||
Canada-16.87% |
||||||||
Aecon Group, Inc. |
7,187 | 99,786 | ||||||
Agnico Eagle Mines Ltd. |
5,704 | 287,954 | ||||||
Alamos Gold, Inc., Class A |
15,892 | 117,027 | ||||||
Alimentation Couche-Tard, Inc. |
56,269 | 2,207,106 | ||||||
AltaGas Ltd. |
18,146 | 399,445 | ||||||
ARC Resources Ltd. |
23,904 | 295,325 | ||||||
Atco Ltd., Class I |
7,502 | 246,232 | ||||||
B2Gold Corp. |
41,532 | 167,654 | ||||||
Barrick Gold Corp. |
65,151 | 1,471,657 | ||||||
Baytex Energy Corp.(a) |
68,841 | 314,258 | ||||||
BCE, Inc. |
20,858 | 1,094,743 | ||||||
BlackBerry Ltd.(a) |
11,415 | 78,299 | ||||||
Boyd Group Services, Inc. |
476 | 62,099 | ||||||
Brookfield Asset Management, Inc., Class A |
68,840 | 3,759,646 | ||||||
BRP, Inc. |
2,492 | 178,479 | ||||||
CAE, Inc.(a) |
5,784 | 154,638 | ||||||
Cameco Corp. |
4,409 | 108,352 | ||||||
Canaccord Genuity Group, Inc. |
8,049 | 81,927 | ||||||
Canadian National Railway Co. |
14,303 | 1,773,173 | ||||||
Canadian Natural Resources Ltd. |
64,217 | 3,585,135 | ||||||
Canadian Pacific Railway Ltd. |
11,299 | 795,077 | ||||||
Canadian Solar, Inc.(a)(b) |
2,451 | 77,599 | ||||||
Canadian Tire Corp. Ltd., Class A |
3,445 | 507,563 | ||||||
Canfor Corp.(a) |
4,005 | 90,593 | ||||||
Capital Power Corp. |
5,768 | 177,131 | ||||||
Cascades, Inc. |
10,890 | 112,734 | ||||||
CCL Industries, Inc., Class B(b) |
4,126 | 185,879 | ||||||
Celestica, Inc.(a) |
23,752 | 282,211 | ||||||
Cenovus Energy, Inc. |
76,645 | 1,204,348 | ||||||
Centerra Gold, Inc. |
24,032 | 234,190 | ||||||
CGI, Inc., Class A(a) |
8,857 | 725,683 | ||||||
Chartwell Retirement Residences |
6,714 | 64,422 | ||||||
CI Financial Corp. |
11,210 | 183,394 | ||||||
Cogeco Communications, Inc. |
1,173 | 93,592 | ||||||
Cogeco, Inc. |
973 | 60,174 | ||||||
Constellation Software, Inc. |
175 | 294,736 | ||||||
Crescent Point Energy Corp. |
55,762 | 398,755 | ||||||
Dollarama, Inc. |
4,343 | 224,281 | ||||||
Emera, Inc. |
10,928 | 510,924 | ||||||
Empire Co. Ltd., Class A |
21,761 | 673,581 | ||||||
Enbridge, Inc. |
113,860 | 4,915,815 | ||||||
Enerflex Ltd. |
10,967 | 67,703 | ||||||
Enerplus Corp. |
18,256 | 233,175 | ||||||
Fairfax Financial Holdings Ltd. |
2,135 | 1,034,297 | ||||||
Finning International, Inc. |
10,070 | 292,807 | ||||||
Franco-Nevada Corp. |
2,054 | 302,282 | ||||||
George Weston Ltd. |
7,562 | 819,428 | ||||||
Gibson Energy, Inc. |
9,832 | 191,780 | ||||||
Gildan Activewear, Inc. |
5,552 | 217,816 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
6 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Canada-(continued) |
||||||||
Hudbay Minerals, Inc. |
12,455 | $ | 101,439 | |||||
Hydro One Ltd.(c) |
14,593 | 360,121 | ||||||
iA Financial Corp., Inc. |
9,347 | 554,991 | ||||||
IAMGOLD Corp.(a) |
41,350 | 121,277 | ||||||
IGM Financial, Inc. |
3,174 | 112,686 | ||||||
Imperial Oil Ltd.(b) |
12,873 | 577,400 | ||||||
Intact Financial Corp. |
5,066 | 726,099 | ||||||
Interfor Corp. |
3,526 | 107,335 | ||||||
Keyera Corp. |
11,164 | 261,331 | ||||||
Kinross Gold Corp. |
58,068 | 289,344 | ||||||
Linamar Corp. |
3,603 | 188,026 | ||||||
Loblaw Cos. Ltd. |
13,563 | 1,057,258 | ||||||
Magna International, Inc. |
17,133 | 1,272,058 | ||||||
Maple Leaf Foods, Inc. |
4,332 | 91,193 | ||||||
Martinrea International, Inc. |
11,160 | 87,020 | ||||||
MEG Energy Corp.(a) |
25,589 | 333,897 | ||||||
Methanex Corp. |
4,805 | 249,996 | ||||||
Metro, Inc. |
13,644 | 711,702 | ||||||
Mullen Group Ltd. |
6,660 | 64,901 | ||||||
NFI Group, Inc. |
4,848 | 72,471 | ||||||
North West Co., Inc. (The) |
2,681 | 76,138 | ||||||
Northland Power, Inc. |
6,770 | 215,107 | ||||||
Nutrien Ltd. |
32,802 | 2,819,211 | ||||||
Onex Corp. |
6,007 | 403,135 | ||||||
Open Text Corp. |
8,092 | 351,918 | ||||||
Pan American Silver Corp. |
4,953 | 117,074 | ||||||
Parkland Corp. |
12,341 | 322,743 | ||||||
Pembina Pipeline Corp. |
29,251 | 993,983 | ||||||
Precision Drilling Corp.(a) |
2,664 | 155,322 | ||||||
Premium Brands Holdings Corp. |
1,121 | 103,337 | ||||||
Quebecor, Inc., Class B |
4,970 | 108,620 | ||||||
Restaurant Brands International, Inc. |
6,806 | 380,720 | ||||||
Ritchie Bros. Auctioneers, Inc. |
2,145 | 112,345 | ||||||
Rogers Communications, Inc., Class B |
10,431 | 538,594 | ||||||
Russel Metals, Inc. |
4,389 | 108,657 | ||||||
Saputo, Inc. |
8,842 | 216,527 | ||||||
Secure Energy Services, Inc. |
20,768 | 100,373 | ||||||
Shaw Communications, Inc., Class B |
8,647 | 259,134 | ||||||
Shopify, Inc., Class A(a) |
181 | 125,569 | ||||||
SNC-Lavalin Group, Inc. |
9,765 | 219,729 | ||||||
Spin Master Corp.(a)(c) |
2,406 | 88,057 | ||||||
SSR Mining, Inc. |
5,749 | 113,724 | ||||||
Stantec, Inc. |
4,195 | 208,336 | ||||||
Stella-Jones, Inc. |
2,757 | 86,404 | ||||||
Suncor Energy, Inc. |
108,355 | 3,311,262 | ||||||
Superior Plus Corp. |
8,240 | 74,256 | ||||||
Teck Resources Ltd., Class B |
41,247 | 1,484,222 | ||||||
TELUS Corp. |
23,956 | 604,590 | ||||||
TFI International, Inc. |
2,268 | 236,250 | ||||||
Thomson Reuters Corp. |
3,088 | 312,026 | ||||||
Torex Gold Resources, Inc.(a) |
5,337 | 67,662 | ||||||
Toromont Industries Ltd. |
1,711 | 144,936 | ||||||
Tourmaline Oil Corp. |
14,105 | 556,037 | ||||||
TransAlta Corp. |
19,548 | 198,354 | ||||||
Transcontinental, Inc., Class A |
7,547 | 121,683 | ||||||
Vermilion Energy, Inc.(a) |
20,102 | 375,620 | ||||||
West Fraser Timber Co. Ltd. |
2,646 | 263,943 | ||||||
Wheaton Precious Metals Corp. |
6,701 | 293,431 | ||||||
Whitecap Resources, Inc. |
27,029 | 206,071 |
Shares | Value | |||||||
Canada-(continued) |
||||||||
WSP Global, Inc. |
3,105 | $ | 380,698 | |||||
Yamana Gold, Inc. |
48,771 | 239,558 | ||||||
|
|
|||||||
55,890,806 | ||||||||
|
|
|||||||
Chile-0.09% |
||||||||
Antofagasta PLC(b) |
4,150 | 84,693 | ||||||
Lundin Mining Corp. |
23,422 | 225,846 | ||||||
|
|
|||||||
310,539 | ||||||||
|
|
|||||||
China-0.40% |
||||||||
NXP Semiconductors N.V. |
5,564 | 1,057,828 | ||||||
Topsports International Holdings Ltd.(c) |
77,094 | 79,820 | ||||||
Wilmar International Ltd. |
57,418 | 185,267 | ||||||
|
|
|||||||
1,322,915 | ||||||||
|
|
|||||||
Colombia-0.08% |
||||||||
Millicom International Cellular S.A., SDR(a)(b) |
3,348 | 78,324 | ||||||
Parex Resources, Inc. |
8,198 | 180,655 | ||||||
|
|
|||||||
258,979 | ||||||||
|
|
|||||||
Denmark-1.21% |
||||||||
AP Moller - Maersk A/S, Class B |
232 | 736,369 | ||||||
Carlsberg A/S, Class B |
1,851 | 271,729 | ||||||
Coloplast A/S, Class B |
713 | 107,469 | ||||||
Dfds A/S(a) |
1,138 | 52,995 | ||||||
DSV A/S |
593 | 109,869 | ||||||
H Lundbeck A/S |
3,222 | 78,305 | ||||||
ISS A/S(a)(b) |
7,609 | 139,828 | ||||||
Novo Nordisk A/S, Class B |
16,202 | 1,668,751 | ||||||
Novozymes A/S, Class B |
1,753 | 115,198 | ||||||
Orsted A/S(c) |
1,035 | 134,592 | ||||||
Pandora A/S |
1,469 | 152,078 | ||||||
Rockwool International A/S, Class B(b) |
170 | 58,553 | ||||||
Tryg A/S |
4,089 | 92,986 | ||||||
Vestas Wind Systems A/S |
8,597 | 282,345 | ||||||
|
|
|||||||
4,001,067 | ||||||||
|
|
|||||||
Finland-0.86% |
||||||||
Elisa OYJ |
1,534 | 85,374 | ||||||
Fortum OYJ |
9,315 | 197,116 | ||||||
Huhtamaki OYJ |
1,633 | 59,960 | ||||||
Kesko OYJ, Class B |
5,936 | 175,617 | ||||||
Kone OYJ, Class B |
3,074 | 180,853 | ||||||
Neste OYJ |
3,147 | 124,351 | ||||||
Nokia OYJ(a) |
116,508 | 633,044 | ||||||
Nokian Renkaat OYJ |
2,100 | 40,098 | ||||||
Outokumpu OYJ(a)(b) |
16,532 | 98,154 | ||||||
Sampo OYJ, Class A |
9,090 | 432,491 | ||||||
Stora Enso OYJ, Class R |
16,010 | 308,759 | ||||||
UPM-Kymmene OYJ(b) |
10,246 | 356,758 | ||||||
Valmet OYJ(b) |
1,650 | 57,637 | ||||||
Wartsila OYJ Abp |
9,365 | 105,924 | ||||||
|
|
|||||||
2,856,136 | ||||||||
|
|
|||||||
France-7.88% |
||||||||
Air France-KLM(a)(b) |
18,050 | 80,102 | ||||||
Air Liquide S.A. |
5,305 | 886,041 | ||||||
Airbus SE(a) |
5,985 | 772,399 | ||||||
Alstom S.A. |
3,244 | 83,440 | ||||||
Arkema S.A. |
1,330 | 177,620 | ||||||
Atos SE |
3,594 | 128,935 | ||||||
Bollore S.A. |
26,654 | 135,858 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
7 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
France-(continued) |
||||||||
Bouygues S.A |
11,604 | $ | 417,336 | |||||
Bureau Veritas S.A. |
2,817 | 81,190 | ||||||
Capgemini SE |
2,470 | 522,402 | ||||||
Carrefour S.A.(b) |
37,337 | 750,671 | ||||||
Casino Guichard Perrachon S.A.(a)(b) |
6,275 | 112,135 | ||||||
Cie de Saint-Gobain |
13,513 | 849,198 | ||||||
Cie Generale des Etablissements Michelin S.C.A. |
4,130 | 575,213 | ||||||
Criteo S.A., ADR(a) |
3,005 | 99,946 | ||||||
Danone S.A. |
9,592 | 585,122 | ||||||
Dassault Systemes SE |
2,208 | 107,856 | ||||||
Eiffage S.A. |
3,648 | 374,178 | ||||||
Electricite de France S.A.(b) |
23,074 | 210,703 | ||||||
Elis S.A.(a) |
6,026 | 97,397 | ||||||
ENGIE S.A. |
88,908 | 1,424,824 | ||||||
EssilorLuxottica S.A. |
2,504 | 440,774 | ||||||
Faurecia SE(b) |
5,734 | 219,297 | ||||||
Hermes International |
67 | 93,466 | ||||||
Kering S.A. |
397 | 284,090 | ||||||
Korian S.A. |
2,523 | 51,377 | ||||||
Legrand S.A. |
2,227 | 212,166 | ||||||
L’Oreal S.A. |
1,373 | 547,465 | ||||||
LVMH Moet Hennessy Louis Vuitton SE |
1,284 | 951,701 | ||||||
Nexity S.A. |
1,615 | 64,033 | ||||||
Orange S.A. |
87,528 | 1,063,140 | ||||||
Orpea S.A. |
774 | 32,201 | ||||||
Pernod Ricard S.A. |
1,757 | 386,108 | ||||||
Publicis Groupe S.A. |
4,704 | 315,110 | ||||||
Rallye S.A.(a)(b) |
20,710 | 77,693 | ||||||
Renault S.A.(a) |
18,978 | 608,361 | ||||||
Rexel S.A. |
10,835 | 240,903 | ||||||
Rubis S.C.A. |
2,241 | 70,403 | ||||||
Safran S.A. |
3,878 | 499,607 | ||||||
Sanofi |
20,786 | 2,182,230 | ||||||
Schneider Electric SE |
6,279 | 985,809 | ||||||
SCOR SE |
10,199 | 333,699 | ||||||
SEB S.A. |
407 | 59,748 | ||||||
Sodexo S.A. |
2,384 | 201,096 | ||||||
SPIE S.A. |
4,407 | 104,147 | ||||||
Teleperformance |
338 | 126,003 | ||||||
Thales S.A. |
1,808 | 208,964 | ||||||
TotalEnergies SE(b) |
95,810 | 4,906,115 | ||||||
Ubisoft Entertainment S.A.(a)(b) |
1,088 | 59,086 | ||||||
Valeo |
10,753 | 238,959 | ||||||
Veolia Environnement S.A. |
17,607 | 617,215 | ||||||
Vinci S.A |
10,603 | 1,125,667 | ||||||
Vivendi SE |
14,564 | 185,012 | ||||||
Wendel SE |
864 | 88,359 | ||||||
Worldline S.A.(a)(c) |
807 | 41,609 | ||||||
|
|
|||||||
26,094,179 | ||||||||
|
|
|||||||
Germany-7.51% |
||||||||
adidas AG |
1,303 | 310,342 | ||||||
Aurubis AG |
1,214 | 143,243 | ||||||
BASF SE |
23,968 | 1,595,062 | ||||||
Bayer AG |
24,989 | 1,445,765 | ||||||
Bayerische Motoren Werke AG |
12,386 | 1,204,219 | ||||||
Beiersdorf AG |
743 | 75,459 | ||||||
Brenntag SE |
2,444 | 205,553 | ||||||
CECONOMY AG |
22,128 | 88,630 |
Shares | Value | |||||||
Germany-(continued) |
||||||||
Continental AG(a) |
3,833 | $ | 330,642 | |||||
Covestro AG(c) |
5,696 | 302,038 | ||||||
Deutsche Lufthansa AG(a) |
33,501 | 258,657 | ||||||
Deutsche Post AG |
10,104 | 512,513 | ||||||
Deutsche Telekom AG |
93,251 | 1,678,975 | ||||||
E.ON SE |
57,075 | 776,845 | ||||||
Evonik Industries AG |
11,871 | 358,538 | ||||||
Freenet AG |
3,591 | 96,721 | ||||||
Fresenius Medical Care AG & Co. KGaA |
4,668 | 300,535 | ||||||
Fresenius SE & Co. KGaA |
17,566 | 616,863 | ||||||
Fuchs Petrolub SE, Preference Shares |
1,620 | 64,595 | ||||||
GEA Group AG |
2,990 | 131,212 | ||||||
Hannover Rueck SE |
1,580 | 292,463 | ||||||
HeidelbergCement AG |
4,539 | 296,410 | ||||||
Henkel AG & Co. KGaA, Preference Shares |
6,035 | 480,190 | ||||||
HOCHTIEF AG |
1,260 | 85,310 | ||||||
Infineon Technologies AG |
7,982 | 275,641 | ||||||
Jungheinrich AG, Preference Shares |
1,484 | 54,305 | ||||||
K+S AG |
10,110 | 260,497 | ||||||
KION Group AG |
854 | 69,217 | ||||||
Knorr-Bremse AG |
754 | 66,905 | ||||||
LANXESS AG |
2,121 | 103,821 | ||||||
Mercedes-Benz Group AG |
29,405 | 2,317,554 | ||||||
Merck KGaA |
3,102 | 618,614 | ||||||
METRO AG(a) |
11,523 | 108,200 | ||||||
MTU Aero Engines AG |
462 | 112,190 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Class R |
4,878 | 1,354,128 | ||||||
ProSiebenSat.1 Media SE |
6,676 | 91,969 | ||||||
Rheinmetall AG |
1,197 | 179,621 | ||||||
RWE AG |
12,361 | 576,042 | ||||||
Salzgitter AG(a) |
2,293 | 101,423 | ||||||
SAP SE |
7,721 | 878,670 | ||||||
Schaeffler AG, Preference Shares |
26,837 | 181,161 | ||||||
Siemens AG |
12,190 | 1,734,205 | ||||||
Siemens Healthineers AG(c) |
2,247 | 145,070 | ||||||
Symrise AG |
749 | 89,596 | ||||||
Telefonica Deutschland Holding AG |
44,677 | 122,693 | ||||||
thyssenkrupp AG(a) |
26,062 | 281,019 | ||||||
TUI AG(a) |
32,748 | 105,807 | ||||||
Uniper SE |
6,533 | 209,129 | ||||||
United Internet AG |
2,025 | 69,053 | ||||||
Volkswagen AG, Preference Shares |
15,572 | 3,114,005 | ||||||
|
|
|||||||
24,871,315 | ||||||||
|
|
|||||||
Hong Kong-1.32% |
||||||||
AIA Group Ltd. |
168,862 | 1,755,895 | ||||||
CK Hutchison Holdings Ltd. |
104,177 | 729,960 | ||||||
CLP Holdings Ltd. |
40,973 | 417,140 | ||||||
HKT Trust & HKT Ltd. |
85,048 | 114,722 | ||||||
Hong Kong & China Gas Co. Ltd. (The) |
104,875 | 158,647 | ||||||
Jardine Matheson Holdings Ltd. |
4,900 | 291,550 | ||||||
Melco Resorts & Entertainment Ltd., ADR(a) |
16,512 | 165,450 | ||||||
PCCW Ltd. |
156,039 | 87,069 | ||||||
Swire Pacific Ltd., Class A |
44,722 | 247,257 | ||||||
Techtronic Industries Co. Ltd. |
6,844 | 114,305 | ||||||
WH Group Ltd. |
324,914 | 226,625 | ||||||
Yue Yuen Industrial Holdings Ltd.(a) |
41,336 | 69,831 | ||||||
|
|
|||||||
4,378,451 | ||||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
8 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Indonesia-0.03% |
||||||||
First Pacific Co. Ltd. |
270,392 | $ | 105,891 | |||||
|
|
|||||||
Ireland-0.37% |
||||||||
CRH PLC |
14,189 | 647,205 | ||||||
Flutter Entertainment PLC(a) |
941 | 136,296 | ||||||
Kerry Group PLC, Class A |
1,160 | 138,370 | ||||||
Kingspan Group PLC |
884 | 86,224 | ||||||
Smurfit Kappa Group PLC |
4,130 | 206,845 | ||||||
|
|
|||||||
1,214,940 | ||||||||
|
|
|||||||
Israel-0.47% |
||||||||
Bezeq The Israeli Telecommunication Corp. Ltd.(a) |
67,707 | 111,315 | ||||||
Check Point Software Technologies Ltd.(a) |
4,436 | 642,688 | ||||||
ICL Group Ltd. |
10,417 | 118,292 | ||||||
Teva Pharmaceutical Industries Ltd., ADR(a) |
83,949 | 682,505 | ||||||
|
|
|||||||
1,554,800 | ||||||||
|
|
|||||||
Italy-1.81% |
||||||||
A2A S.p.A. |
42,573 | 76,365 | ||||||
Assicurazioni Generali S.p.A.(b) |
78,180 | 1,556,903 | ||||||
Enel S.p.A. |
179,982 | 1,334,027 | ||||||
Eni S.p.A. |
122,928 | 1,909,823 | ||||||
Ferrari N.V. |
469 | 101,537 | ||||||
Hera S.p.A. |
19,981 | 77,764 | ||||||
Iveco Group N.V.(a) |
3,961 | 33,123 | ||||||
Leonardo S.p.A. |
18,733 | 168,327 | ||||||
Prysmian S.p.A. |
4,567 | 151,427 | ||||||
Saipem S.p.A.(a)(b) |
39,964 | 47,401 | ||||||
Telecom Italia S.p.A. |
975,932 | 414,242 | ||||||
Unipol Gruppo S.p.A. |
26,313 | 133,972 | ||||||
|
|
|||||||
6,004,911 | ||||||||
|
|
|||||||
Japan-22.46% |
||||||||
Advantest Corp. |
872 | 68,670 | ||||||
Aeon Co. Ltd.(b) |
29,176 | 657,996 | ||||||
AGC, Inc. |
7,308 | 322,967 | ||||||
Air Water, Inc.(b) |
5,962 | 86,551 | ||||||
Aisin Corp. |
8,543 | 310,419 | ||||||
Ajinomoto Co., Inc. |
9,086 | 263,409 | ||||||
Alfresa Holdings Corp.(b) |
13,786 | 211,383 | ||||||
Alps Alpine Co. Ltd.(b) |
12,019 | 120,007 | ||||||
Amada Co. Ltd. |
10,070 | 88,569 | ||||||
ANA Holdings, Inc.(a) |
5,087 | 111,589 | ||||||
Asahi Group Holdings Ltd. |
8,032 | 323,860 | ||||||
Asahi Kasei Corp. |
35,126 | 328,615 | ||||||
Astellas Pharma, Inc. |
36,461 | 607,340 | ||||||
Bandai Namco Holdings, Inc. |
1,834 | 133,281 | ||||||
Bridgestone Corp. |
19,021 | 780,328 | ||||||
Brother Industries Ltd. |
6,454 | 116,892 | ||||||
Canon, Inc. |
31,049 | 727,465 | ||||||
Chubu Electric Power Co., Inc. |
42,017 | 420,626 | ||||||
Chugai Pharmaceutical Co. Ltd. |
2,591 | 85,486 | ||||||
Chugoku Electric Power Co., Inc. (The)(b) |
19,267 | 150,891 | ||||||
Coca-Cola Bottlers Japan Holdings, Inc. |
5,954 | 75,889 | ||||||
COMSYS Holdings Corp.(b) |
2,640 | 63,562 | ||||||
Cosmo Energy Holdings Co. Ltd. |
8,297 | 187,011 | ||||||
Dai Nippon Printing Co. Ltd. |
9,960 | 258,307 | ||||||
Daicel Corp.(b) |
13,152 | 100,831 | ||||||
Daiichi Sankyo Co. Ltd. |
13,648 | 331,024 | ||||||
Daikin Industries Ltd. |
2,253 | 414,802 | ||||||
Daito Trust Construction Co. Ltd. |
2,465 | 272,236 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
Daiwa House Industry Co. Ltd. |
19,855 | $ | 563,542 | |||||
Denka Co. Ltd. |
2,050 | 62,831 | ||||||
Denso Corp. |
9,341 | 652,633 | ||||||
Dentsu Group, Inc. |
6,466 | 256,844 | ||||||
DIC Corp. |
3,765 | 85,614 | ||||||
East Japan Railway Co.(b) |
9,722 | 574,837 | ||||||
Ebara Corp. |
2,400 | 124,194 | ||||||
Eisai Co. Ltd. |
2,782 | 138,116 | ||||||
Electric Power Development Co. Ltd.(b) |
12,440 | 197,117 | ||||||
ENEOS Holdings, Inc. |
295,754 | 1,165,298 | ||||||
FANUC Corp. |
1,765 | 324,190 | ||||||
Fast Retailing Co. Ltd.(b) |
284 | 152,461 | ||||||
Fuji Electric Co. Ltd.(b) |
2,444 | 124,349 | ||||||
FUJIFILM Holdings Corp. |
6,381 | 402,334 | ||||||
Fujikura Ltd.(a) |
18,593 | 99,604 | ||||||
Fujitsu Ltd. |
3,287 | 472,752 | ||||||
Furukawa Electric Co. Ltd. |
4,134 | 81,657 | ||||||
H2O Retailing Corp.(b) |
9,297 | 69,420 | ||||||
Hakuhodo DY Holdings, Inc. |
7,770 | 102,273 | ||||||
Hankyu Hanshin Holdings, Inc. |
6,155 | 183,568 | ||||||
Hanwa Co. Ltd. |
4,751 | 137,570 | ||||||
Haseko Corp. |
8,889 | 113,143 | ||||||
Hino Motors Ltd. |
12,191 | 113,998 | ||||||
Hitachi Construction Machinery Co. Ltd.(b) |
2,339 | 56,924 | ||||||
Hitachi Ltd. |
28,098 | 1,378,369 | ||||||
Hitachi Metals Ltd.(a) |
4,125 | 73,313 | ||||||
Hokkaido Electric Power Co., Inc. |
25,597 | 112,011 | ||||||
Hokuriku Electric Power Co. |
16,179 | 79,227 | ||||||
Honda Motor Co. Ltd. |
66,843 | 2,045,770 | ||||||
Hoya Corp. |
2,006 | 258,729 | ||||||
Idemitsu Kosan Co. Ltd. |
16,156 | 432,042 | ||||||
IHI Corp. |
6,714 | 154,945 | ||||||
Iida Group Holdings Co. Ltd. |
3,195 | 58,893 | ||||||
Isetan Mitsukoshi Holdings Ltd. |
19,218 | 154,345 | ||||||
Isuzu Motors Ltd. |
20,394 | 275,698 | ||||||
ITOCHU Corp.(b) |
37,296 | 1,212,059 | ||||||
Iwatani Corp.(b) |
1,316 | 62,158 | ||||||
J. Front Retailing Co. Ltd. |
9,614 | 80,301 | ||||||
Japan Airlines Co. Ltd.(a) |
5,144 | 102,590 | ||||||
Japan Tobacco, Inc. |
28,213 | 519,310 | ||||||
JFE Holdings, Inc. |
34,553 | 516,007 | ||||||
JGC Holdings Corp. |
8,724 | 87,259 | ||||||
JSR Corp. |
3,318 | 103,422 | ||||||
JTEKT Corp. |
11,763 | 101,212 | ||||||
Kajima Corp. |
19,046 | 255,325 | ||||||
Kamigumi Co. Ltd. |
3,445 | 66,702 | ||||||
Kaneka Corp. |
1,881 | 61,325 | ||||||
Kanematsu Corp. |
5,308 | 64,521 | ||||||
Kansai Electric Power Co., Inc. (The) |
50,991 | 514,448 | ||||||
Kao Corp. |
6,159 | 287,696 | ||||||
Kawasaki Heavy Industries Ltd. |
7,771 | 143,444 | ||||||
KDDI Corp. |
19,164 | 624,962 | ||||||
Keio Corp.(b) |
1,144 | 46,684 | ||||||
Keyence Corp. |
505 | 235,806 | ||||||
Kinden Corp. |
4,246 | 60,091 | ||||||
Kintetsu Group Holdings Co. Ltd.(a)(b) |
4,096 | 122,871 | ||||||
Kirin Holdings Co. Ltd. |
19,184 | 317,721 | ||||||
Kobe Steel Ltd.(b) |
33,776 | 179,474 | ||||||
Koito Manufacturing Co. Ltd. |
1,520 | 78,128 | ||||||
Komatsu Ltd. |
17,548 | 402,610 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
9 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Japan-(continued) |
||||||||
Konica Minolta, Inc.(b) |
29,920 | $ | 125,993 | |||||
K’s Holdings Corp. |
7,374 | 79,390 | ||||||
Kubota Corp.(b) |
14,252 | 255,156 | ||||||
Kuraray Co. Ltd. |
13,512 | 126,468 | ||||||
Kyocera Corp. |
7,498 | 428,299 | ||||||
Kyushu Electric Power Co., Inc.(b) |
39,320 | 296,330 | ||||||
Kyushu Railway Co.(b) |
3,883 | 85,633 | ||||||
Lawson, Inc.(b) |
1,807 | 75,308 | ||||||
Lixil Corp. |
8,587 | 190,491 | ||||||
Makita Corp. |
2,522 | 89,231 | ||||||
Marubeni Corp. |
96,458 | 1,007,920 | ||||||
Mazda Motor Corp.(a) |
49,093 | 364,867 | ||||||
Medipal Holdings Corp. |
13,282 | 241,826 | ||||||
MEIJI Holdings Co. Ltd.(b) |
2,858 | 171,468 | ||||||
MINEBEA MITSUMI, Inc. |
5,753 | 124,675 | ||||||
Mitsubishi Chemical Holdings Corp. |
67,164 | 476,665 | ||||||
Mitsubishi Corp. |
69,359 | 2,331,137 | ||||||
Mitsubishi Electric Corp. |
47,897 | 574,515 | ||||||
Mitsubishi Estate Co. Ltd. |
17,546 | 267,665 | ||||||
Mitsubishi Gas Chemical Co., Inc. |
4,509 | 79,747 | ||||||
Mitsubishi Heavy Industries Ltd. |
18,729 | 552,235 | ||||||
Mitsubishi Materials Corp. |
9,494 | 170,880 | ||||||
Mitsubishi Motors Corp.(a) |
44,084 | 114,827 | ||||||
Mitsui & Co. Ltd. |
56,304 | 1,400,817 | ||||||
Mitsui Chemicals, Inc. |
6,503 | 165,885 | ||||||
Mitsui Fudosan Co. Ltd. |
17,278 | 383,589 | ||||||
Mitsui Mining & Smelting Co. Ltd.(b) |
2,644 | 77,248 | ||||||
Mitsui OSK Lines Ltd. |
4,333 | 351,380 | ||||||
MS&AD Insurance Group Holdings, Inc. |
22,947 | 778,016 | ||||||
Murata Manufacturing Co. Ltd. |
5,220 | 352,925 | ||||||
Nagase & Co. Ltd. |
5,437 | 86,671 | ||||||
Nagoya Railroad Co. Ltd.(a) |
5,970 | 109,266 | ||||||
NEC Corp. |
8,148 | 350,539 | ||||||
Nexon Co. Ltd. |
2,959 | 63,920 | ||||||
NGK Insulators Ltd.(b) |
5,749 | 88,849 | ||||||
NGK Spark Plug Co. Ltd. |
5,842 | 104,895 | ||||||
NH Foods Ltd.(b) |
3,222 | 120,851 | ||||||
NHK Spring Co. Ltd.(b) |
10,983 | 87,158 | ||||||
Nidec Corp. |
2,155 | 184,917 | ||||||
Nikon Corp. |
13,121 | 135,909 | ||||||
Nintendo Co. Ltd. |
772 | 388,899 | ||||||
Nippon Electric Glass Co. Ltd. |
3,553 | 85,204 | ||||||
Nippon Express Holdings, Inc. |
1,179 | 71,451 | ||||||
Nippon Light Metal Holdings Co. Ltd. |
4,256 | 68,066 | ||||||
Nippon Paper Industries Co. Ltd. |
10,958 | 104,466 | ||||||
Nippon Steel Corp. |
44,983 | 823,500 | ||||||
Nippon Steel Trading Corp. |
2,128 | 100,511 | ||||||
Nippon Suisan Kaisha Ltd. |
15,032 | 71,000 | ||||||
Nippon Telegraph & Telephone Corp. |
50,572 | 1,445,918 | ||||||
Nippon Yusen K.K. |
5,411 | 501,284 | ||||||
Nissan Motor Co. Ltd.(a) |
229,504 | 1,086,595 | ||||||
Nisshin Seifun Group, Inc. |
4,962 | 70,224 | ||||||
Nissin Foods Holdings Co. Ltd. |
1,086 | 86,465 | ||||||
Nitori Holdings Co. Ltd.(b) |
608 | 91,035 | ||||||
Nitto Denko Corp. |
3,022 | 219,090 | ||||||
Nomura Real Estate Holdings, Inc. |
3,129 | 77,834 | ||||||
Nomura Research Institute Ltd. |
4,237 | 146,230 | ||||||
NSK Ltd. |
14,800 | 95,604 | ||||||
NTN Corp.(a)(b) |
26,086 | 49,148 | ||||||
NTT Data Corp. |
12,065 | 227,630 |
Shares | Value | |||||||
Japan-(continued) |
||||||||
Obayashi Corp. |
30,932 | $ | 258,091 | |||||
Odakyu Electric Railway Co. Ltd.(b) |
3,366 | 55,352 | ||||||
Oji Holdings Corp. |
33,565 | 171,067 | ||||||
Olympus Corp. |
6,508 | 129,934 | ||||||
Omron Corp. |
2,102 | 141,624 | ||||||
Ono Pharmaceutical Co. Ltd. |
4,708 | 115,539 | ||||||
ORIX Corp. |
55,642 | 1,102,936 | ||||||
Osaka Gas Co. Ltd. |
13,187 | 241,471 | ||||||
Otsuka Corp. |
1,308 | 50,367 | ||||||
Otsuka Holdings Co. Ltd. |
7,751 | 266,700 | ||||||
Pan Pacific International Holdings Corp. |
4,580 | 74,759 | ||||||
Panasonic Corp. |
84,409 | 872,123 | ||||||
Persol Holdings Co. Ltd. |
4,558 | 101,073 | ||||||
Rakuten Group, Inc. |
16,006 | 135,358 | ||||||
Recruit Holdings Co. Ltd. |
8,046 | 336,650 | ||||||
Renesas Electronics Corp.(a)(b) |
9,062 | 105,432 | ||||||
Ricoh Co. Ltd.(b) |
23,711 | 201,546 | ||||||
Rohm Co. Ltd. |
1,738 | 136,263 | ||||||
Santen Pharmaceutical Co. Ltd. |
5,707 | 64,614 | ||||||
Secom Co. Ltd. |
3,545 | 259,223 | ||||||
Seibu Holdings, Inc.(a) |
8,196 | 85,322 | ||||||
Seiko Epson Corp.(b) |
8,694 | 133,080 | ||||||
Sekisui Chemical Co. Ltd. |
10,262 | 167,596 | ||||||
Sekisui House Ltd. |
19,772 | 402,736 | ||||||
Seven & i Holdings Co. Ltd.(b) |
19,766 | 959,511 | ||||||
Sharp Corp.(b) |
5,499 | 51,708 | ||||||
Shikoku Electric Power Co., Inc.(b) |
13,699 | 105,619 | ||||||
Shimano, Inc. |
514 | 118,621 | ||||||
Shimizu Corp. |
25,741 | 170,079 | ||||||
Shin-Etsu Chemical Co. Ltd. |
3,424 | 525,306 | ||||||
Shionogi & Co. Ltd. |
3,944 | 261,655 | ||||||
Shiseido Co. Ltd. |
2,524 | 143,890 | ||||||
Showa Denko K.K. |
4,507 | 82,372 | ||||||
SMC Corp. |
422 | 249,335 | ||||||
Softbank Corp. |
50,118 | 631,180 | ||||||
Sojitz Corp.(b) |
15,110 | 249,264 | ||||||
Sompo Holdings, Inc. |
14,167 | 617,481 | ||||||
Sony Group Corp. |
18,181 | 1,864,273 | ||||||
Stanley Electric Co. Ltd. |
2,833 | 67,077 | ||||||
Subaru Corp. |
27,111 | 445,710 | ||||||
SUMCO Corp. |
3,938 | 64,519 | ||||||
Sumitomo Chemical Co. Ltd. |
66,069 | 315,502 | ||||||
Sumitomo Corp. |
58,832 | 957,249 | ||||||
Sumitomo Electric Industries Ltd. |
32,343 | 427,543 | ||||||
Sumitomo Forestry Co. Ltd. |
4,710 | 90,458 | ||||||
Sumitomo Heavy Industries Ltd. |
4,372 | 105,718 | ||||||
Sumitomo Metal Mining Co. Ltd. |
4,552 | 227,096 | ||||||
Sumitomo Realty & Development Co. Ltd. |
5,019 | 147,552 | ||||||
Sumitomo Rubber Industries Ltd. |
8,899 | 85,841 | ||||||
Suntory Beverage & Food Ltd. |
2,964 | 118,380 | ||||||
Suzuken Co. Ltd. |
4,944 | 159,255 | ||||||
Suzuki Motor Corp. |
10,110 | 401,416 | ||||||
Sysmex Corp. |
792 | 62,741 | ||||||
Taiheiyo Cement Corp. |
6,618 | 126,815 | ||||||
Taisei Corp. |
7,315 | 242,298 | ||||||
Taisho Pharmaceutical Holdings Co. Ltd.(b) |
1,260 | 62,467 | ||||||
Takashimaya Co. Ltd.(b) |
9,877 | 96,305 | ||||||
Takeda Pharmaceutical Co. Ltd. |
30,505 | 927,267 | ||||||
TDK Corp. |
6,744 | 269,350 | ||||||
Teijin Ltd. |
9,134 | 109,679 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
10 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Japan-(continued) |
||||||||
Terumo Corp. |
4,565 | $ | 147,007 | |||||
TIS, Inc. |
2,817 | 66,038 | ||||||
Tobu Railway Co. Ltd. |
5,130 | 125,828 | ||||||
Toho Holdings Co. Ltd. |
5,584 | 91,729 | ||||||
Tohoku Electric Power Co., Inc.(b) |
42,559 | 276,028 | ||||||
Tokio Marine Holdings, Inc. |
26,010 | 1,484,608 | ||||||
Tokyo Electric Power Co. Holdings, Inc.(a) |
256,653 | 806,672 | ||||||
Tokyo Electron Ltd. |
1,001 | 484,704 | ||||||
Tokyo Gas Co. Ltd. |
17,997 | 366,894 | ||||||
Tokyu Corp. |
13,681 | 181,978 | ||||||
Tokyu Fudosan Holdings Corp. |
22,381 | 124,172 | ||||||
Toppan, Inc. |
12,787 | 250,577 | ||||||
Toray Industries, Inc. |
51,358 | 294,169 | ||||||
Toshiba Corp.(b) |
12,851 | 510,693 | ||||||
Tosoh Corp. |
8,021 | 124,520 | ||||||
TOTO Ltd. |
1,768 | 74,220 | ||||||
Toyo Seikan Group Holdings Ltd. |
10,826 | 144,096 | ||||||
Toyo Suisan Kaisha Ltd. |
1,772 | 74,465 | ||||||
Toyota Boshoku Corp. |
3,924 | 71,411 | ||||||
Toyota Industries Corp. |
3,179 | 241,237 | ||||||
Toyota Motor Corp. |
286,819 | 5,325,482 | ||||||
Toyota Tsusho Corp. |
9,451 | 391,005 | ||||||
Trend Micro, Inc. |
1,554 | 86,352 | ||||||
Tsuruha Holdings, Inc. |
642 | 51,226 | ||||||
Ube Industries Ltd. |
5,371 | 99,049 | ||||||
Unicharm Corp. |
2,684 | 100,672 | ||||||
West Japan Railway Co. |
5,196 | 223,404 | ||||||
Yakult Honsha Co. Ltd. |
1,667 | 90,171 | ||||||
Yamada Holdings Co. Ltd. |
33,093 | 114,644 | ||||||
Yamaha Corp. |
1,486 | 69,155 | ||||||
Yamaha Motor Co. Ltd. |
7,450 | 166,626 | ||||||
Yamato Holdings Co. Ltd. |
3,019 | 58,925 | ||||||
Yamazaki Baking Co. Ltd. |
5,021 | 67,877 | ||||||
Yaskawa Electric Corp.(b) |
1,764 | 69,993 | ||||||
Yokogawa Electric Corp. |
4,738 | 75,899 | ||||||
Yokohama Rubber Co. Ltd. (The) |
4,113 | 57,387 | ||||||
Z Holdings Corp. |
42,834 | 207,373 | ||||||
|
|
|||||||
74,374,132 | ||||||||
|
|
|||||||
Luxembourg-0.26% |
||||||||
Aperam S.A. |
1,310 | 73,334 | ||||||
ArcelorMittal S.A. |
24,988 | 777,584 | ||||||
|
|
|||||||
850,918 | ||||||||
|
|
|||||||
Netherlands-5.39% |
||||||||
Aalberts N.V. |
1,257 | 70,184 | ||||||
Akzo Nobel N.V. |
4,227 | 403,560 | ||||||
ASM International N.V. |
307 | 99,378 | ||||||
ASML Holding N.V. |
1,110 | 746,680 | ||||||
EXOR N.V. |
12,382 | 942,926 | ||||||
Heineken Holding N.V. |
2,425 | 198,154 | ||||||
Heineken N.V.(b) |
2,771 | 281,298 | ||||||
Koninklijke Ahold Delhaize N.V. |
46,621 | 1,438,983 | ||||||
Koninklijke BAM Groep N.V.(a) |
29,392 | 82,797 | ||||||
Koninklijke DSM N.V. |
1,843 | 346,321 | ||||||
Koninklijke KPN N.V. |
79,878 | 273,643 | ||||||
Koninklijke Philips N.V. |
11,940 | 406,890 | ||||||
Randstad N.V. |
3,531 | 240,737 | ||||||
SBM Offshore N.V. |
4,531 | 68,959 | ||||||
Shell PLC |
436,332 | 11,545,049 | ||||||
Signify N.V. |
2,708 | 138,637 |
Shares | Value | |||||||
Netherlands-(continued) |
||||||||
Universal Music Group N.V. |
14,564 | $ | 332,564 | |||||
Wolters Kluwer N.V. |
2,422 | 247,066 | ||||||
|
|
|||||||
17,863,826 | ||||||||
|
|
|||||||
New Zealand-0.12% |
||||||||
Contact Energy Ltd. |
13,249 | 72,806 | ||||||
Fletcher Building Ltd. |
20,602 | 93,553 | ||||||
Meridian Energy Ltd. |
33,806 | 114,277 | ||||||
Spark New Zealand Ltd. |
33,074 | 100,835 | ||||||
|
|
|||||||
381,471 | ||||||||
|
|
|||||||
Norway-0.60% |
||||||||
Equinor ASA |
29,417 | 931,486 | ||||||
Gjensidige Forsikring ASA |
6,222 | 154,177 | ||||||
Mowi ASA |
5,721 | 147,292 | ||||||
Norsk Hydro ASA |
37,182 | 353,315 | ||||||
Orkla ASA |
13,828 | 129,794 | ||||||
Telenor ASA |
18,048 | 267,734 | ||||||
|
|
|||||||
1,983,798 | ||||||||
|
|
|||||||
Portugal-0.15% |
||||||||
Galp Energia SGPS S.A. |
19,267 | 213,334 | ||||||
Jeronimo Martins SGPS S.A. |
6,854 | 149,542 | ||||||
Sonae SGPS S.A. |
126,900 | 138,258 | ||||||
|
|
|||||||
501,134 | ||||||||
|
|
|||||||
Russia-0.09% |
||||||||
Coca-Cola HBC AG |
3,120 | 79,707 | ||||||
Evraz PLC |
10,751 | 20,880 | ||||||
Raspadskaya OJSC(d) |
4,533 | 13,535 | ||||||
VEON Ltd., ADR(a) |
370,540 | 190,939 | ||||||
|
|
|||||||
305,061 | ||||||||
|
|
|||||||
Singapore-0.32% |
||||||||
ComfortDelGro Corp. Ltd. |
72,970 | 75,795 | ||||||
Jardine Cycle & Carriage Ltd. |
5,683 | 91,434 | ||||||
Keppel Corp. Ltd. |
40,755 | 179,839 | ||||||
Singapore Technologies Engineering Ltd. |
24,986 | 70,313 | ||||||
Singapore Telecommunications Ltd. |
209,859 | 389,587 | ||||||
STMicroelectronics N.V |
5,861 | 249,893 | ||||||
|
|
|||||||
1,056,861 | ||||||||
|
|
|||||||
South Africa-0.34% |
||||||||
Anglo American PLC |
21,854 | 1,121,004 | ||||||
|
|
|||||||
South Korea-4.98% |
||||||||
CJ CheilJedang Corp. |
325 | 102,310 | ||||||
CJ Corp. |
1,869 | 130,730 | ||||||
DB Insurance Co. Ltd. |
3,785 | 194,547 | ||||||
Doosan Co. Ltd.(a) |
1,214 | 114,600 | ||||||
Doosan Heavy Industries & Construction Co. Ltd.(a) |
14,701 | 254,319 | ||||||
E-MART, Inc. |
1,399 | 151,262 | ||||||
GS Engineering & Construction Corp. |
2,871 | 102,318 | ||||||
GS Holdings Corp. |
3,488 | 116,039 | ||||||
Hankook Tire & Technology Co. Ltd. |
2,281 | 66,779 | ||||||
Hanwha Corp. |
11,905 | 300,509 | ||||||
Hanwha Life Insurance Co. Ltd. |
44,555 | 109,502 | ||||||
Hanwha Solutions Corp.(a) |
2,922 | 82,264 | ||||||
Hyundai Engineering & Construction Co. Ltd. |
3,363 | 121,111 | ||||||
Hyundai Glovis Co. Ltd. |
499 | 73,044 | ||||||
Hyundai Heavy Industries Holdings Co. Ltd. |
2,773 | 118,545 | ||||||
Hyundai Marine & Fire Insurance Co. Ltd. |
6,836 | 163,743 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
11 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
South Korea-(continued) |
||||||||
Hyundai Mobis Co. Ltd. |
1,975 | $ | 367,946 | |||||
Hyundai Motor Co. |
5,319 | 774,171 | ||||||
Hyundai Steel Co. |
5,336 | 176,188 | ||||||
Kia Corp. |
8,051 | 494,169 | ||||||
Korea Electric Power Corp.(a) |
34,450 | 664,732 | ||||||
Korea Gas Corp. |
4,029 | 137,556 | ||||||
Korea Shipbuilding & Offshore Engineering Co. Ltd.(a) |
1,193 | 87,514 | ||||||
Korea Zinc Co. Ltd. |
187 | 85,541 | ||||||
Korean Air Lines Co. Ltd.(a) |
3,992 | 97,281 | ||||||
KT Corp. |
8,693 | 231,360 | ||||||
KT&G Corp. |
2,808 | 186,367 | ||||||
LG Chem Ltd. |
471 | 221,329 | ||||||
LG Corp. |
1,433 | 89,626 | ||||||
LG Display Co. Ltd. |
16,208 | 252,081 | ||||||
LG Electronics, Inc. |
3,878 | 398,331 | ||||||
LG Household & Health Care Ltd. |
66 | 52,148 | ||||||
LG Uplus Corp. |
10,758 | 117,659 | ||||||
LOTTE Chemical Corp. |
644 | 117,836 | ||||||
LOTTE Shopping Co. Ltd. |
1,246 | 88,397 | ||||||
LS Corp. |
1,141 | 46,215 | ||||||
LX International Corp. |
2,477 | 60,877 | ||||||
NAVER Corp. |
453 | 119,810 | ||||||
POSCO Holdings, Inc. |
3,420 | 810,662 | ||||||
Posco International Corp. |
4,561 | 78,334 | ||||||
Samsung C&T Corp. |
2,132 | 195,051 | ||||||
Samsung Electro-Mechanics Co. Ltd. |
802 | 110,726 | ||||||
Samsung Electronics Co. Ltd. |
93,799 | 5,624,741 | ||||||
Samsung Fire & Marine Insurance Co. Ltd. |
1,363 | 215,953 | ||||||
Samsung SDI Co. Ltd. |
285 | 129,896 | ||||||
Samsung SDS Co. Ltd. |
521 | 60,665 | ||||||
SK Hynix, Inc. |
9,409 | 966,450 | ||||||
SK Innovation Co. Ltd.(a) |
1,684 | 280,820 | ||||||
SK Telecom Co. Ltd. |
3,574 | 162,299 | ||||||
SK, Inc. |
3,635 | 687,789 | ||||||
S-Oil Corp. |
1,345 | 94,525 | ||||||
|
|
|||||||
16,486,667 | ||||||||
|
|
|||||||
Spain-1.78% |
||||||||
Acciona S.A. |
507 | 87,185 | ||||||
ACS Actividades de Construccion y Servicios S.A.(b) |
15,663 | 383,873 | ||||||
Amadeus IT Group S.A.(a) |
3,437 | 231,395 | ||||||
Endesa S.A. |
7,479 | 165,194 | ||||||
Ferrovial S.A. |
5,489 | 150,555 | ||||||
Grifols S.A.(b) |
4,532 | 86,612 | ||||||
Iberdrola S.A. |
106,790 | 1,221,056 | ||||||
Industria de Diseno Textil S.A. |
9,407 | 249,356 | ||||||
Mapfre S.A. |
66,994 | 132,549 | ||||||
Naturgy Energy Group S.A.(b) |
9,508 | 256,626 | ||||||
Red Electrica Corp. S.A. |
9,180 | 183,793 | ||||||
Repsol S.A. |
81,341 | 1,062,178 | ||||||
Telefonica S.A. |
347,645 | 1,669,671 | ||||||
|
|
|||||||
5,880,043 | ||||||||
|
|
|||||||
Sweden-1.37% |
||||||||
Alfa Laval AB |
2,510 | 82,442 | ||||||
Assa Abloy AB, Class B |
8,270 | 220,459 | ||||||
Atlas Copco AB, Class A |
5,707 | 298,949 | ||||||
Boliden AB |
4,974 | 223,188 | ||||||
Electrolux AB, Class B(b) |
6,689 | 121,013 |
Shares | Value | |||||||
Sweden-(continued) |
||||||||
Epiroc AB, Class A |
4,762 | $ | 90,339 | |||||
Essity AB, Class B |
8,680 | 225,042 | ||||||
Getinge AB, Class B |
2,124 | 83,401 | ||||||
H & M Hennes & Mauritz AB, Class B(b) |
11,824 | 201,021 | ||||||
Hexagon AB, Class B |
11,474 | 156,521 | ||||||
Holmen AB, Class B |
1,488 | 73,721 | ||||||
Husqvarna AB, Class B |
6,646 | 80,591 | ||||||
Lundin Energy AB |
4,565 | 169,140 | ||||||
Peab AB, Class B |
5,152 | 50,274 | ||||||
Sandvik AB |
9,820 | 215,270 | ||||||
Securitas AB, Class B |
9,309 | 113,376 | ||||||
Skanska AB, Class B |
8,663 | 197,800 | ||||||
SKF AB, Class B |
7,033 | 131,000 | ||||||
SSAB AB, Class A(a) |
25,305 | 160,760 | ||||||
Svenska Cellulosa AB S.C.A., Class B |
9,273 | 152,778 | ||||||
Swedish Match AB |
12,745 | 93,634 | ||||||
Tele2 AB, Class B |
9,471 | 126,187 | ||||||
Telefonaktiebolaget LM Ericsson, Class B |
37,261 | 347,020 | ||||||
Telia Co. AB(b) |
72,306 | 270,548 | ||||||
Trelleborg AB, Class B |
4,205 | 85,542 | ||||||
Volvo AB, Class B(b) |
28,872 | 562,194 | ||||||
|
|
|||||||
4,532,210 | ||||||||
|
|
|||||||
Switzerland-5.11% |
||||||||
ABB Ltd. |
21,812 | 740,579 | ||||||
Adecco Group AG |
5,356 | 254,183 | ||||||
Alcon, Inc. |
4,756 | 368,474 | ||||||
Aryzta AG(a) |
63,858 | 72,806 | ||||||
Barry Callebaut AG |
38 | 87,809 | ||||||
Chocoladefabriken Lindt & Spruengli AG, PC |
19 | 202,436 | ||||||
Cie Financiere Richemont S.A. |
5,613 | 765,367 | ||||||
Clariant AG(b) |
4,165 | 75,292 | ||||||
DKSH Holding AG |
1,010 | 86,474 | ||||||
Dufry AG(a) |
1,817 | 85,775 | ||||||
Geberit AG |
230 | 150,768 | ||||||
Georg Fischer AG |
60 | 74,227 | ||||||
Givaudan S.A. |
50 | 209,875 | ||||||
Helvetia Holding AG |
1,210 | 147,450 | ||||||
Holcim Ltd. |
13,407 | 673,528 | ||||||
IWG PLC(a) |
14,036 | 52,751 | ||||||
Kuehne + Nagel International AG, Class R |
498 | 136,462 | ||||||
Logitech International S.A., Class R(b) |
859 | 64,510 | ||||||
Lonza Group AG |
313 | 217,457 | ||||||
Nestle S.A. |
33,287 | 4,345,868 | ||||||
Novartis AG |
35,590 | 3,116,574 | ||||||
Partners Group Holding AG |
109 | 148,094 | ||||||
Roche Holding AG |
9,090 | 3,466,278 | ||||||
Schindler Holding AG, PC |
682 | 157,222 | ||||||
SGS S.A. |
60 | 172,325 | ||||||
SIG Combibloc Group AG |
2,761 | 62,235 | ||||||
Sika AG |
758 | 252,818 | ||||||
Sonova Holding AG, Class A |
305 | 118,682 | ||||||
Swatch Group AG (The), BR |
1,012 | 314,482 | ||||||
Swisscom AG |
513 | 307,873 | ||||||
|
|
|||||||
16,928,674 | ||||||||
|
|
|||||||
Taiwan-0.03% |
||||||||
Sea Ltd., ADR(a) |
712 | 103,667 | ||||||
|
|
|||||||
Turkey-0.05% |
||||||||
Eldorado Gold Corp.(a) |
14,641 | 160,683 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
12 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
United Kingdom-9.97% |
||||||||
Admiral Group PLC |
2,293 | $ | 91,591 | |||||
Ashtead Group PLC |
2,533 | 165,718 | ||||||
Associated British Foods PLC |
6,103 | 157,223 | ||||||
AstraZeneca PLC |
8,875 | 1,078,749 | ||||||
B&M European Value Retail S.A |
12,112 | 98,385 | ||||||
Babcock International Group PLC(a)(b) |
34,887 | 154,940 | ||||||
BAE Systems PLC(b) |
65,965 | 636,908 | ||||||
Balfour Beatty PLC(b) |
24,841 | 79,926 | ||||||
Barratt Developments PLC |
19,776 | 162,126 | ||||||
Beazley PLC |
16,938 | 102,406 | ||||||
Bellway PLC(b) |
2,074 | 80,256 | ||||||
Berkeley Group Holdings PLC(a) |
2,089 | 109,202 | ||||||
BP PLC |
1,119,923 | 5,462,911 | ||||||
British American Tobacco PLC |
52,600 | 2,301,839 | ||||||
BT Group PLC(b) |
358,864 | 896,805 | ||||||
Bunzl PLC |
5,928 | 236,151 | ||||||
Burberry Group PLC(b) |
4,840 | 125,985 | ||||||
Centrica PLC(a) |
616,617 | 639,373 | ||||||
CNH Industrial N.V. |
19,812 | 285,393 | ||||||
Coca-Cola Europacific Partners PLC |
5,157 | 264,090 | ||||||
Compass Group PLC |
23,955 | 544,479 | ||||||
Croda International PLC |
829 | 83,245 | ||||||
Currys PLC |
98,519 | 124,124 | ||||||
DCC PLC |
2,653 | 208,596 | ||||||
Diageo PLC |
19,638 | 981,511 | ||||||
Direct Line Insurance Group PLC |
45,950 | 182,556 | ||||||
Drax Group PLC |
15,494 | 146,771 | ||||||
DS Smith PLC |
25,225 | 116,632 | ||||||
easyJet PLC(a) |
7,499 | 60,632 | ||||||
Entain PLC(a) |
4,410 | 99,644 | ||||||
Experian PLC |
6,312 | 248,400 | ||||||
Firstgroup PLC(a) |
116,083 | 156,066 | ||||||
GlaxoSmithKline PLC |
90,290 | 1,872,201 | ||||||
Hays PLC |
40,449 | 73,648 | ||||||
Imperial Brands PLC |
31,175 | 685,579 | ||||||
Inchcape PLC |
13,717 | 137,484 | ||||||
InterContinental Hotels Group PLC(a) |
1,776 | 124,771 | ||||||
International Consolidated Airlines Group S.A.(a)(b) |
139,081 | 277,231 | ||||||
Intertek Group PLC |
1,259 | 90,950 | ||||||
ITV PLC(a) |
74,936 | 111,254 | ||||||
J Sainsbury PLC |
103,493 | 382,842 | ||||||
John Wood Group PLC(a) |
39,224 | 94,942 | ||||||
Johnson Matthey PLC(b) |
5,115 | 129,231 | ||||||
Just Group PLC(a)(b) |
53,393 | 60,214 | ||||||
Kingfisher PLC |
66,864 | 274,707 | ||||||
Man Group PLC |
34,698 | 89,853 | ||||||
Marks & Spencer Group PLC(a) |
117,680 | 276,004 | ||||||
Meggitt PLC(a) |
14,119 | 143,029 | ||||||
Melrose Industries PLC |
107,963 | 214,754 | ||||||
Micro Focus International PLC |
24,562 | 126,881 | ||||||
National Grid PLC |
91,256 | 1,384,583 | ||||||
Next PLC |
1,783 | 164,162 | ||||||
Pearson PLC(b) |
17,862 | 155,302 | ||||||
Persimmon PLC |
5,255 | 170,138 | ||||||
Petrofac Ltd.(a) |
43,224 | 61,882 | ||||||
Reckitt Benckiser Group PLC |
7,734 | 655,936 | ||||||
RELX PLC |
19,196 | 587,500 | ||||||
Rentokil Initial PLC |
11,863 | 80,828 | ||||||
Rolls-Royce Holdings PLC(a)(b) |
153,649 | 213,374 |
Shares | Value | |||||||
United Kingdom-(continued) |
||||||||
Royal Mail PLC |
32,437 | $ | 170,912 | |||||
Sage Group PLC (The) |
10,222 | 96,392 | ||||||
Severn Trent PLC |
3,310 | 127,729 | ||||||
Smith & Nephew PLC |
9,349 | 167,714 | ||||||
Smiths Group PLC(b) |
5,605 | 114,989 | ||||||
SSE PLC |
23,209 | 530,793 | ||||||
Subsea 7 S.A. |
11,380 | 77,776 | ||||||
Tate & Lyle PLC |
9,110 | 92,066 | ||||||
Taylor Wimpey PLC |
78,513 | 158,281 | ||||||
Tesco PLC |
366,891 | 1,426,370 | ||||||
Travis Perkins PLC |
6,340 | 124,325 | ||||||
Unilever PLC |
36,202 | 1,819,827 | ||||||
Vodafone Group PLC |
1,560,673 | 2,752,398 | ||||||
Weir Group PLC (The) |
2,722 | 57,797 | ||||||
WPP PLC |
41,015 | 581,962 | ||||||
|
|
|||||||
33,021,244 | ||||||||
|
|
|||||||
United States-1.14% |
||||||||
Atlassian Corp. PLC, Class A(a) |
591 | 180,680 | ||||||
Bausch Health Cos., Inc.(a) |
10,963 | 263,541 | ||||||
Constellium SE(a) |
9,217 | 179,086 | ||||||
Ferguson PLC |
2,989 | 457,798 | ||||||
ICON PLC(a) |
965 | 229,679 | ||||||
QIAGEN N.V.(a) |
1,484 | 74,674 | ||||||
Spotify Technology S.A.(a) |
1,030 | 160,876 | ||||||
Stellantis N.V. |
52,565 | 966,502 | ||||||
Swiss Re AG |
11,879 | 1,137,080 | ||||||
Tenaris S.A. |
10,026 | 129,954 | ||||||
|
|
|||||||
3,779,870 | ||||||||
|
|
|||||||
Zambia-0.18% |
||||||||
First Quantum Minerals Ltd. |
20,560 | 602,527 | ||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
330,135,958 | ||||||
|
|
|||||||
Money Market Funds-0.01% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(e)(f) |
54,158 | 54,158 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES (excluding investments
purchased with cash collateral from securities on loan)-99.69% |
|
330,190,116 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-4.59% |
||||||||
Invesco Private Government Fund, |
4,564,491 | 4,564,491 | ||||||
Invesco Private Prime Fund, 0.08%(e)(f)(g) |
10,642,244 | 10,643,308 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
15,207,799 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-104.28% |
|
345,397,915 | ||||||
OTHER ASSETS LESS LIABILITIES-(4.28)% |
|
(14,191,744 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 331,206,171 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
13 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
BR-Bearer Shares
PC-Participation Certificate
SDR-Swedish Depository Receipt
Notes to Schedule of Investments:
(a) |
Non-income producing security. |
(b) |
All or a portion of this security was out on loan at February 28, 2022. |
(c) |
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2022 was $1,151,307, which represented less than 1% of the Fund’s Net Assets. |
(d) |
Security valued using significant unobservable inputs (Level 3). See Note 4. |
(e) |
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 February 28, 2022. |
Value August 31, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation (Depreciation) |
Realized Gain (Loss) |
Value February 28, 2022 |
Dividend Income | |||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class |
$ | 177,555 | $ | 9,233,061 | $ | (9,356,458 | ) | $ | - | $ | - | $ | 54,158 | $ | 64 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
|||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 6,627,619 | 22,074,748 | (24,137,876 | ) | - | - | 4,564,491 | 596 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 15,478,746 | 39,985,304 | (44,818,690 | ) | (510 | ) | (1,542 | ) | 10,643,308 | 5,371 | * | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 22,283,920 | $ | 71,293,113 | $ | (78,313,024 | ) | $ | (510 | ) | $ | (1,542 | ) | $ | 15,261,957 | $ | 6,031 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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. |
(f) |
The rate shown is the 7-day SEC standardized yield as of February 28, 2022. |
(g) |
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.
14 | ||||
|
| |||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)–(continued)
February 28, 2022
(Unaudited)
Portfolio Composition
Sector Breakdown (% of the Fund’s Net Assets)
as of February 28, 2022
Industrials |
15.80 | |||||||
Energy |
14.67 | |||||||
Materials |
12.94 | |||||||
Consumer Discretionary |
12.58 | |||||||
Consumer Staples |
10.66 | |||||||
Health Care |
7.38 | |||||||
Communication Services |
6.55 | |||||||
Information Technology |
6.49 | |||||||
Financials |
6.34 | |||||||
Utilities |
5.56 | |||||||
Real Estate |
0.71 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
0.32 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
15 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)
February 28, 2022
(Unaudited)
Schedule of Investments
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.97% |
| |||||||
Brazil-8.19% |
||||||||
Ambev S.A. |
27,400 | $ | 80,843 | |||||
Americanas S.A. |
799 | 4,730 | ||||||
B3 S.A. - Brasil, Bolsa, Balcao |
16,400 | 46,414 | ||||||
Banco do Estado do Rio Grande do Sul S.A., Class B, Preference Shares |
10,200 | 19,799 | ||||||
Banco Pan S.A., Preference Shares |
3,800 | 7,384 | ||||||
BB Seguridade Participacoes S.A. |
4,987 | 22,303 | ||||||
Braskem S.A., Class A, Preference Shares |
3,607 | 33,419 | ||||||
BRF S.A.(a) |
7,607 | 24,674 | ||||||
CCR S.A. |
8,726 | 19,919 | ||||||
Centrais Eletricas Brasileiras S.A. |
2,978 | 20,099 | ||||||
Cia Brasileira de Distribuicao |
3,800 | 17,187 | ||||||
Cia de Saneamento Basico do Estado de Sao Paulo |
2,934 | 23,584 | ||||||
Cia de Saneamento do Parana, Preference Shares |
17,900 | 13,864 | ||||||
Cia Energetica de Minas Gerais, Preference Shares |
15,043 | 37,376 | ||||||
Cia Paranaense de Energia, Class B, Preference Shares |
25,300 | 34,033 | ||||||
Cia Siderurgica Nacional S.A. |
2,218 | 10,807 | ||||||
Cogna Educacao(a) |
34,243 | 15,022 | ||||||
Cosan S.A. |
4,392 | 17,997 | ||||||
EDP - Energias do Brasil S.A. |
3,533 | 14,210 | ||||||
Embraer S.A.(a) |
9,010 | 30,781 | ||||||
Equatorial Energia S.A. |
4,265 | 21,169 | ||||||
Gerdau S.A., Preference Shares |
9,709 | 47,983 | ||||||
IRB Brasil Resseguros S.A.(a) |
12,400 | 7,365 | ||||||
Klabin S.A. |
4,500 | 20,265 | ||||||
Lojas Renner S.A. |
1,961 | 9,638 | ||||||
M Dias Branco S.A. |
2,500 | 11,098 | ||||||
Marfrig Global Foods S.A. |
3,600 | 15,492 | ||||||
Metalurgica Gerdau S.A., Preference Shares |
16,700 | 33,746 | ||||||
Natura & Co. Holding S.A.(a) |
1,300 | 5,842 | ||||||
Neoenergia S.A. |
6,600 | 20,613 | ||||||
Pagseguro Digital Ltd., Class A(a)(b) |
685 | 10,919 | ||||||
Petroleo Brasileiro S.A., Preference Shares |
126,985 | 838,071 | ||||||
Suzano S.A. |
2,100 | 22,448 | ||||||
Telefonica Brasil S.A., ADR |
28,222 | 276,293 | ||||||
TIM S.A. |
8,737 | 23,082 | ||||||
Ultrapar Participacoes S.A. |
12,407 | 35,667 | ||||||
Usinas Siderurgicas de Minas Gerais S.A. Usiminas, Class A, Preference Shares |
5,997 | 17,124 | ||||||
Vale S.A. |
19,217 | 344,225 | ||||||
Vibra Energia S.A. |
10,000 | 45,791 | ||||||
|
|
|||||||
2,301,276 | ||||||||
|
|
|||||||
Chile-0.69% |
||||||||
Cencosud S.A. |
16,952 | 31,353 | ||||||
Colbun S.A. |
84,485 | 6,187 | ||||||
Embotelladora Andina S.A., Class B, Preference Shares |
7,278 | 15,924 | ||||||
Empresas CMPC S.A. |
8,279 | 13,754 | ||||||
Empresas COPEC S.A. |
3,230 | 25,196 | ||||||
Enel Americas S.A. |
187,425 | 22,049 | ||||||
Enel Chile S.A. |
278,121 | 9,168 |
Shares | Value | |||||||
Chile-(continued) |
||||||||
Falabella S.A. |
6,337 | $ | 20,969 | |||||
Sociedad Quimica y Minera de Chile S.A., Class B, Preference Shares |
739 | 49,279 | ||||||
|
|
|||||||
193,879 | ||||||||
|
|
|||||||
China-55.54% |
||||||||
360 DigiTech, Inc., ADR(b) |
888 | 16,650 | ||||||
51job, Inc., ADR(a) |
275 | 14,245 | ||||||
AAC Technologies Holdings, Inc. |
3,749 | 10,268 | ||||||
Agile Group Holdings Ltd. |
11,798 | 5,375 | ||||||
Air China Ltd., H Shares(a) |
61,880 | 47,377 | ||||||
Alibaba Group Holding Ltd.(a) |
27,337 | 361,048 | ||||||
Aluminum Corp. of China Ltd., H Shares(a) |
164,288 | 115,309 | ||||||
Angang Steel Co. Ltd., H Shares |
129,695 | 64,402 | ||||||
Anhui Conch Cement Co. Ltd., H Shares |
29,607 | 158,509 | ||||||
ANTA Sports Products Ltd. |
644 | 9,772 | ||||||
Autohome, Inc., ADR |
393 | 12,022 | ||||||
BAIC Motor Corp. Ltd., H Shares(c) |
267,204 | 93,015 | ||||||
Baidu, Inc., ADR(a) |
1,954 | 297,868 | ||||||
BBMG Corp., H Shares |
399,404 | 63,895 | ||||||
Beijing Enterprises Holdings Ltd. |
8,859 | 30,215 | ||||||
Beijing North Star Co. Ltd., H Shares |
75,727 | 11,533 | ||||||
BEST, Inc., ADR(a) |
23,914 | 16,742 | ||||||
BYD Co. Ltd., H Shares |
3,650 | 112,027 | ||||||
China Aoyuan Group Ltd. |
13,000 | 2,163 | ||||||
China BlueChemical Ltd., H Shares |
41,470 | 12,366 | ||||||
China Coal Energy Co. Ltd., H Shares |
97,147 | 60,376 | ||||||
China Communications Services Corp. Ltd., H Shares |
58,000 | 31,844 | ||||||
China Conch Venture Holdings Ltd.(b) |
4,345 | 20,908 | ||||||
China Datang Corp. Renewable Power Co. Ltd., H Shares |
59,000 | 22,275 | ||||||
China Eastern Airlines Corp. Ltd., H Shares(a) |
63,360 | 24,509 | ||||||
China Feihe Ltd.(c) |
6,000 | 7,138 | ||||||
China Galaxy Securities Co. Ltd., H Shares |
61,500 | 35,147 | ||||||
China Gas Holdings Ltd. |
5,815 | 9,198 | ||||||
China Jinmao Holdings Group Ltd. |
74,427 | 24,766 | ||||||
China Life Insurance Co. Ltd., H Shares |
589,926 | 978,466 | ||||||
China Longyuan Power Group Corp. Ltd., H Shares |
38,185 | 77,977 | ||||||
China Mengniu Dairy Co. Ltd. |
7,389 | 47,992 | ||||||
China Molybdenum Co. Ltd., H Shares(b) |
87,614 | 52,476 | ||||||
China National Building Material Co. Ltd., H Shares |
65,747 | 84,312 | ||||||
China Oilfield Services Ltd., H Shares |
39,440 | 44,620 | ||||||
China Overseas Land & Investment Ltd. |
29,393 | 89,717 | ||||||
China Pacific Insurance (Group) Co. Ltd., H Shares |
129,419 | 360,247 | ||||||
China Petroleum & Chemical Corp., H Shares |
3,187,726 | 1,579,893 | ||||||
China Power International Development Ltd. |
71,713 | 40,474 | ||||||
China Railway Group Ltd., H Shares |
712,620 | 418,614 | ||||||
China Railway Signal & Communication Corp. Ltd., H Shares(c) |
83,263 | 30,263 | ||||||
China Reinsurance Group Corp., H Shares |
1,225,423 | 117,788 | ||||||
China Resources Beer Holdings Co. Ltd. |
1,819 | 14,434 | ||||||
China Resources Cement Holdings Ltd. |
17,410 | 14,884 | ||||||
China Resources Gas Group Ltd. |
2,723 | 12,493 | ||||||
China Resources Land Ltd. |
14,182 | 68,971 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
16 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
China-(continued) |
||||||||
China Resources Pharmaceutical Group Ltd.(c) |
32,516 | $ | 16,063 | |||||
China Resources Power Holdings Co. Ltd. |
29,895 | 67,021 | ||||||
China Shenhua Energy Co. Ltd., H Shares |
256,312 | 703,501 | ||||||
China Southern Airlines Co. Ltd., H Shares(a) |
65,313 | 41,094 | ||||||
China Taiping Insurance Holdings Co. Ltd. |
63,803 | 75,368 | ||||||
China Tower Corp. Ltd., H Shares(c) |
1,501,607 | 174,880 | ||||||
China Vanke Co. Ltd., H Shares |
146,400 | 346,997 | ||||||
China Yongda Automobiles Services Holdings Ltd. |
10,931 | 12,730 | ||||||
CIFI Holdings Group Co. Ltd. |
24,347 | 16,951 | ||||||
CITIC Securities Co. Ltd., H Shares |
40,000 | 96,786 | ||||||
COSCO SHIPPING Development Co. Ltd., H Shares |
138,000 | 25,574 | ||||||
COSCO SHIPPING Energy Transportation Co. Ltd., H Shares |
30,160 | 14,359 | ||||||
COSCO SHIPPING Holdings Co. Ltd., H Shares(a) . |
51,719 | 104,437 | ||||||
COSCO SHIPPING Ports Ltd. |
18,000 | 14,812 | ||||||
Country Garden Holdings Co. Ltd. |
75,397 | 58,475 | ||||||
CSPC Pharmaceutical Group Ltd. |
14,944 | 17,691 | ||||||
Daqo New Energy Corp., ADR(a) |
198 | 9,496 | ||||||
Datang International Power Generation Co. Ltd., H Shares |
276,721 | 54,539 | ||||||
Dongfang Electric Corp. Ltd., H Shares |
33,000 | 41,544 | ||||||
Dongfeng Motor Group Co. Ltd., H Shares |
119,547 | 102,661 | ||||||
DouYu International Holdings Ltd., ADR(a) |
2,580 | 5,315 | ||||||
ENN Energy Holdings Ltd. |
2,002 | 29,055 | ||||||
FinVolution Group, ADR |
2,424 | 9,866 | ||||||
Fosun International Ltd. |
22,203 | 24,068 | ||||||
Fuyao Glass Industry Group Co. Ltd., H Shares(c) |
6,985 | 34,045 | ||||||
GDS Holdings Ltd., ADR(a)(b) |
268 | 11,931 | ||||||
Geely Automobile Holdings Ltd. |
18,926 | 34,928 | ||||||
GF Securities Co. Ltd., H Shares |
40,400 | 60,597 | ||||||
GOME Retail Holdings Ltd.(a) |
94,525 | 7,016 | ||||||
Great Wall Motor Co. Ltd., H Shares |
35,159 | 72,880 | ||||||
Guangdong Investment Ltd. |
16,070 | 21,595 | ||||||
Guangshen Railway Co. Ltd., H Shares(a) |
140,726 | 25,214 | ||||||
Guangzhou Automobile Group Co. Ltd., H Shares |
89,945 | 88,636 | ||||||
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., H Shares |
13,482 | 35,975 | ||||||
Guangzhou R&F Properties Co. Ltd., H Shares(b) |
26,228 | 11,144 | ||||||
Harbin Electric Co. Ltd., H Shares |
58,000 | 20,487 | ||||||
Hello Group, Inc., ADR |
4,566 | 43,514 | ||||||
Hengan International Group Co. Ltd. |
4,044 | 21,453 | ||||||
Hisense Home Appliances Group Co. Ltd., H Shares |
11,973 | 13,408 | ||||||
Hollysys Automation Technologies Ltd. |
1,145 | 16,122 | ||||||
Huadian Power International Corp. Ltd., H Shares |
264,322 | 99,793 | ||||||
Huaneng Power International, Inc., H Shares |
399,188 | 233,473 | ||||||
Huatai Securities Co. Ltd., H Shares(c) |
17,400 | 28,459 | ||||||
Huazhu Group Ltd., ADR(a) |
305 | 12,615 | ||||||
HUYA, Inc., ADR(a) |
1,516 | 7,959 | ||||||
iQIYI, Inc., ADR(a)(b) |
2,743 | 11,356 | ||||||
JD.com, Inc., A Shares(a) |
243 | 8,749 | ||||||
Jiangsu Expressway Co. Ltd., H Shares |
37,219 | 39,821 | ||||||
Jiangxi Copper Co. Ltd., H Shares |
38,319 | 68,853 | ||||||
JinkoSolar Holding Co. Ltd., ADR(a)(b) |
1,177 | 59,568 |
Shares | Value | |||||||
China-(continued) |
||||||||
JOYY, Inc., ADR |
804 | $ | 37,217 | |||||
Kaisa Group Holdings Ltd. |
29,000 | 2,641 | ||||||
Kingboard Holdings Ltd. |
5,506 | 25,685 | ||||||
Kunlun Energy Co. Ltd. |
36,756 | 35,939 | ||||||
Legend Holdings Corp., H Shares(c) |
39,352 | 55,298 | ||||||
Lenovo Group Ltd. |
80,895 | 90,533 | ||||||
LexinFintech Holdings Ltd., ADR(a) |
2,171 | 7,707 | ||||||
Longfor Group Holdings Ltd.(c) |
6,326 | 33,841 | ||||||
Maanshan Iron & Steel Co. Ltd., H Shares |
62,091 | 25,508 | ||||||
Meituan, B Shares(a)(c) |
1,661 | 36,427 | ||||||
Metallurgical Corp. of China Ltd., H Shares |
931,302 | 283,585 | ||||||
New China Life Insurance Co. Ltd., H Shares |
49,348 | 141,153 | ||||||
New Oriental Education & Technology Group, Inc., ADR(a) |
6,541 | 9,877 | ||||||
People’s Insurance Co. Group of China Ltd. (The), H Shares |
410,492 | 131,863 | ||||||
PetroChina Co. Ltd., H Shares |
5,169,960 | 2,754,815 | ||||||
PICC Property & Casualty Co. Ltd., H Shares |
91,441 | 96,398 | ||||||
Pinduoduo, Inc., ADR(a)(b) |
1,449 | 75,145 | ||||||
Ping An Insurance (Group) Co. of China Ltd., H Shares |
126,605 | 978,658 | ||||||
Qingdao Port International Co. Ltd., H Shares(c) . |
32,539 | 17,490 | ||||||
Qudian, Inc., ADR(a) |
14,151 | 11,646 | ||||||
Red Star Macalline Group Corp. Ltd., H Shares(a)(c) |
58,685 | 27,639 | ||||||
Seazen Group Ltd.(b) |
19,908 | 10,497 | ||||||
Shandong Chenming Paper Holdings Ltd., H Shares |
42,502 | 20,507 | ||||||
Shandong Gold Mining Co. Ltd., H Shares(c) |
15,189 | 28,770 | ||||||
Shanghai Electric Group Co. Ltd., H Shares |
211,592 | 59,227 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., H Shares |
4,195 | 16,804 | ||||||
Shanghai Industrial Holdings Ltd. |
8,000 | 12,163 | ||||||
Shanghai Jin Jiang Capital Co. Ltd., H Shares |
78,900 | 29,990 | ||||||
Shanghai Pharmaceuticals Holding Co. Ltd., H Shares |
32,079 | 57,805 | ||||||
Shenzhen Expressway Co. Ltd., H Shares |
20,772 | 20,922 | ||||||
Shenzhen International Holdings Ltd. |
10,217 | 10,542 | ||||||
Shenzhou International Group Holdings Ltd. |
859 | 14,434 | ||||||
Shimao Group Holdings Ltd. |
12,567 | 7,511 | ||||||
Sino Biopharmaceutical Ltd. |
13,853 | 8,829 | ||||||
Sino-Ocean Group Holding Ltd. |
125,931 | 27,076 | ||||||
Sinopec Engineering Group Co. Ltd., H Shares |
23,207 | 11,078 | ||||||
Sinopec Shanghai Petrochemical Co. Ltd., H Shares |
228,062 | 51,473 | ||||||
Sinopharm Group Co. Ltd., H Shares |
49,017 | 118,438 | ||||||
Sinotrans Ltd., H Shares |
90,815 | 28,359 | ||||||
Sinotruk Hong Kong Ltd. |
6,000 | 8,919 | ||||||
Sohu.com Ltd., ADR(a) |
700 | 12,838 | ||||||
Sun Art Retail Group Ltd. |
18,769 | 6,750 | ||||||
Sunac China Holdings Ltd. |
20,312 | 16,637 | ||||||
Sunny Optical Technology Group Co. Ltd. |
796 | 19,020 | ||||||
TAL Education Group, ADR(a) |
1,908 | 5,419 | ||||||
Tencent Holdings Ltd. |
5,170 | 281,017 | ||||||
Tencent Music Entertainment Group, ADR(a) |
7,452 | 40,166 | ||||||
Tianneng Power International Ltd.(b) |
8,000 | 7,331 | ||||||
Tingyi Cayman Islands Holding Corp. |
11,885 | 26,284 | ||||||
Tsingtao Brewery Co. Ltd., H Shares |
1,984 | 18,996 | ||||||
Vipshop Holdings Ltd., ADR(a)(b) |
4,367 | 37,862 | ||||||
Want Want China Holdings Ltd. |
20,656 | 21,968 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
17 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
China-(continued) |
||||||||
Weibo Corp., ADR(a) |
823 | $ | 22,575 | |||||
Weichai Power Co. Ltd., H Shares |
58,368 | 98,603 | ||||||
WuXi AppTec Co. Ltd., H Shares(c) |
1,128 | 16,080 | ||||||
Xiaomi Corp., B Shares(a)(c) |
33,200 | 62,138 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., H Shares(b) |
22,600 | 36,849 | ||||||
Xinyuan Real Estate Co. Ltd., ADR |
11,065 | 7,414 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. |
17,107 | 17,391 | ||||||
Yankuang Energy Group Co. Ltd., H Shares(b) |
48,412 | 118,408 | ||||||
Yiren Digital Ltd., ADR(a) |
4,042 | 10,509 | ||||||
Yuexiu Property Co. Ltd. |
9,800 | 9,808 | ||||||
Yum China Holdings, Inc. |
2,005 | 104,300 | ||||||
Zhengqi Holdings Co. Ltd., Rts., TBA(d) |
1,142 | 0 | ||||||
Zhengzhou Coal Mining Machinery Group Co. Ltd., H Shares |
13,000 | 13,651 | ||||||
Zhongsheng Group Holdings Ltd. |
1,500 | 10,443 | ||||||
Zhuzhou CRRC Times Electric Co. Ltd., H Shares |
4,600 | 23,843 | ||||||
Zijin Mining Group Co. Ltd., H Shares |
69,189 | 102,539 | ||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., H Shares |
34,400 | 22,805 | ||||||
ZTE Corp., H Shares |
20,850 | 51,150 | ||||||
ZTO Express Cayman, Inc., ADR |
3,090 | 90,970 | ||||||
|
|
|||||||
15,613,630 | ||||||||
|
|
|||||||
Colombia-0.12% |
||||||||
Grupo de Inversiones Suramericana S.A. |
3,963 | 32,466 | ||||||
|
|
|||||||
Czech Rep-0.17% |
||||||||
CEZ A.S. |
1,246 | 47,550 | ||||||
|
|
|||||||
Egypt-0.07% |
||||||||
Commercial International Bank Egypt S.A.E.(a) |
6,715 | 20,436 | ||||||
|
|
|||||||
Greece-0.43% |
||||||||
Hellenic Telecommunications Organization S.A. |
1,153 | 23,008 | ||||||
Motor Oil Hellas Corinth Refineries S.A. |
1,180 | 18,998 | ||||||
OPAP S.A. |
926 | 13,419 | ||||||
Public Power Corp. S.A.(a) |
1,824 | 17,353 | ||||||
Star Bulk Carriers Corp. |
976 | 29,358 | ||||||
Tsakos Energy Navigation Ltd. |
2,317 | 18,883 | ||||||
|
|
|||||||
121,019 | ||||||||
|
|
|||||||
Hong Kong-0.13% |
||||||||
Jinmao Property Services Co. Ltd.(a)(c)(d) |
1,124 | 1,082 | ||||||
Nine Dragons Paper Holdings Ltd. |
11,182 | 10,690 | ||||||
Skyworth Group Ltd.(a) |
43,409 | 24,589 | ||||||
|
|
|||||||
36,361 | ||||||||
|
|
|||||||
Hungary-0.23% |
||||||||
Gedeon Richter PLC |
595 | 12,565 | ||||||
MOL Hungarian Oil & Gas PLC |
6,820 | 53,554 | ||||||
|
|
|||||||
66,119 | ||||||||
|
|
|||||||
India-3.62% |
||||||||
Dr. Reddy’s Laboratories Ltd., ADR |
605 | 32,319 | ||||||
ICICI Bank Ltd., ADR |
15,585 | 303,440 | ||||||
Infosys Ltd., ADR |
16,801 | 377,350 | ||||||
Tata Motors Ltd., ADR(a)(b) |
4,054 | 122,796 | ||||||
Tata Steel Ltd., GDR(c) |
5,637 | 91,010 | ||||||
Wipro Ltd., ADR |
8,552 | 62,344 | ||||||
WNS (Holdings) Ltd., ADR(a) |
344 | 28,425 | ||||||
|
|
|||||||
1,017,684 | ||||||||
|
|
Shares | Value | |||||||
Indonesia-1.45% |
||||||||
PT Adaro Energy Tbk |
239,585 | $ | 41,248 | |||||
PT Astra International Tbk |
146,489 | 59,138 | ||||||
PT Bank Mandiri (Persero) Tbk |
129,896 | 70,073 | ||||||
PT Bank Rakyat Indonesia (Persero) Tbk |
241,959 | 77,232 | ||||||
PT Indah Kiat Pulp & Paper Corp. Tbk |
21,446 | 12,054 | ||||||
PT Indofood Sukses Makmur Tbk |
40,902 | 17,651 | ||||||
PT Perusahaan Gas Negara Tbk(a) |
188,746 | 19,067 | ||||||
PT Telkom Indonesia (Persero) Tbk |
297,663 | 89,742 | ||||||
PT United Tractors Tbk |
12,887 | 22,441 | ||||||
|
|
|||||||
408,646 | ||||||||
|
|
|||||||
Kuwait-0.15% |
||||||||
Agility Public Warehousing Co. KSC |
5,617 | 18,945 | ||||||
Mobile Telecommunications Co. KSCP |
11,082 | 22,691 | ||||||
|
|
|||||||
41,636 | ||||||||
|
|
|||||||
Malaysia-1.11% |
||||||||
Axiata Group Bhd |
36,702 | 34,355 | ||||||
DRB-Hicom Bhd |
34,200 | 12,056 | ||||||
Genting Bhd |
29,382 | 32,531 | ||||||
Genting Malaysia Bhd |
26,400 | 18,882 | ||||||
IJM Corp. Bhd |
36,600 | 13,469 | ||||||
Kuala Lumpur Kepong Bhd |
2,800 | 17,339 | ||||||
MISC Bhd |
18,132 | 31,822 | ||||||
Petronas Chemicals Group Bhd |
12,512 | 28,460 | ||||||
Sime Darby Bhd. |
84,422 | 45,758 | ||||||
Telekom Malaysia Bhd |
11,074 | 13,368 | ||||||
Tenaga Nasional Bhd. |
28,898 | 63,166 | ||||||
|
|
|||||||
311,206 | ||||||||
|
|
|||||||
Mexico-3.97% |
||||||||
Alfa S.A.B. de C.V., Class A |
60,079 | 45,105 | ||||||
Arca Continental S.A.B. de C.V. |
4,931 | 32,609 | ||||||
Banco Santander (Mexico) S.A., Institucion de Banca Multiple, Grupo Financiero Santander(b) |
11,114 | 12,581 | ||||||
Cemex S.A.B. de C.V., ADR(a) |
21,796 | 111,160 | ||||||
Coca-Cola FEMSA S.A.B. de C.V., ADR |
2,786 | 153,397 | ||||||
El Puerto de Liverpool S.A.B. de C.V., Series C-1 |
8,574 | 41,736 | ||||||
Fomento Economico Mexicano, S.A.B. de C.V., ADR |
4,107 | 330,203 | ||||||
Gruma S.A.B. de C.V., Class B(b) |
1,311 | 17,822 | ||||||
Grupo Bimbo S.A.B. de C.V., Series A(b) |
12,456 | 38,449 | ||||||
Grupo Financiero Banorte S.A.B. de C.V., Class O(b) |
11,877 | 80,530 | ||||||
Grupo Financiero Inbursa S.A.B. de C.V., Class O(a)(b) |
16,068 | 26,250 | ||||||
Grupo Mexico S.A.B. de C.V., Class B |
11,548 | 59,383 | ||||||
Grupo Televisa S.A.B., ADR |
4,819 | 51,419 | ||||||
Industrias Penoles S.A.B. de C.V. |
774 | 9,683 | ||||||
Kimberly-Clark de Mexico S.A.B. de C.V., Class A(b) |
10,605 | 14,917 | ||||||
Orbia Advance Corp. S.A.B. de C.V. |
7,449 | 19,074 | ||||||
Wal-Mart de Mexico S.A.B. de C.V., Series V |
18,860 | 71,905 | ||||||
|
|
|||||||
1,116,223 | ||||||||
|
|
|||||||
Peru-0.10% |
||||||||
Cia de Minas Buenaventura S.A.A., ADR(a)(b) |
2,867 | 28,383 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
18 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Philippines-0.14% |
||||||||
Ayala Corp. |
1,193 | $ | 19,779 | |||||
International Container Terminal Services, Inc. |
5,060 | 20,845 | ||||||
|
|
|||||||
40,624 | ||||||||
|
|
|||||||
Poland-1.00% |
||||||||
Cyfrowy Polsat S.A. |
1,726 | 11,202 | ||||||
Enea S.A.(a) |
7,659 | 16,024 | ||||||
Grupa Lotos S.A.(a) |
1,560 | 20,010 | ||||||
KGHM Polska Miedz S.A. |
596 | 23,537 | ||||||
Orange Polska S.A.(a) |
7,754 | 14,439 | ||||||
PGE Polska Grupa Energetyczna S.A.(a) |
14,737 | 28,461 | ||||||
Polski Koncern Naftowy ORLEN S.A. |
4,954 | 84,148 | ||||||
Polskie Gornictwo Naftowe i Gazownictwo S.A. |
14,776 | 19,532 | ||||||
Powszechny Zaklad Ubezpieczen S.A. |
6,470 | 48,317 | ||||||
Tauron Polska Energia S.A.(a) |
25,719 | 15,146 | ||||||
|
|
|||||||
280,816 | ||||||||
|
|
|||||||
Russia-3.52% |
||||||||
Aeroflot PJSC(a)(d) |
15,654 | 4,653 | ||||||
Alrosa PJSC(d) |
20,898 | 14,564 | ||||||
Bashneft PJSC, Preference Shares(d) |
3,265 | 16,251 | ||||||
Federal Grid Co. Unified Energy System PJSC(d) |
4,903,095 | 3,599 | ||||||
Gazprom PJSC |
192,768 | 292,117 | ||||||
Inter RAO UES PJSC(d) |
484,005 | 11,144 | ||||||
Lenta International Co. PJSC, GDR(d) |
7,182 | 6,979 | ||||||
Lukoil PJSC |
5,375 | 127,620 | ||||||
Magnit PJSC(d) |
825 | 20,642 | ||||||
MMC Norilsk Nickel PJSC |
264 | 33,543 | ||||||
Mobile TeleSystems PJSC(d) |
9,047 | 17,162 | ||||||
Nizhnekamskneftekhim PJSC, Preference Shares(d) |
17,391 | 10,371 | ||||||
Novatek PJSC(d) |
1,922 | 19,766 | ||||||
Novolipetsk Steel PJSC(d) |
7,352 | 11,101 | ||||||
PhosAgro PJSC(d) |
214 | 8,923 | ||||||
Polymetal International PLC(d) |
1,099 | 7,947 | ||||||
Polyus PJSC(d) |
91 | 8,184 | ||||||
Rosneft Oil Co. PJSC(d) |
28,631 | 71,558 | ||||||
Rostelecom PJSC |
15,754 | 11,445 | ||||||
RusHydro PJSC |
1,184,728 | 7,295 | ||||||
Severstal PAO(d) |
1,051 | 11,978 | ||||||
Sistema PJSFC(d) |
55,673 | 5,612 | ||||||
Surgutneftegas PJSC |
771,775 | 146,309 | ||||||
Tatneft PJSC |
18,419 | 46,824 | ||||||
TCS Group Holding PLC, GDR(c)(d) |
188 | 5,182 | ||||||
Transneft PJSC, Preference Shares(d) |
26 | 31,411 | ||||||
X5 Retail Group N.V., GDR(c)(d) |
3,143 | 32,252 | ||||||
Yandex N.V., Class A(a)(d) |
322 | 5,065 | ||||||
|
|
|||||||
989,497 | ||||||||
|
|
|||||||
South Africa-2.78% |
||||||||
Aspen Pharmacare Holdings Ltd. |
1,442 | 19,107 | ||||||
Barloworld Ltd. |
2,511 | 19,963 | ||||||
Bid Corp. Ltd. |
1,618 | 33,033 | ||||||
Bidvest Group Ltd. (The) |
2,036 | 27,726 | ||||||
Capitec Bank Holdings Ltd. |
190 | 25,506 | ||||||
Discovery Ltd.(a) |
1,781 | 18,187 | ||||||
Exxaro Resources Ltd. |
2,625 | 33,646 | ||||||
Foschini Group Ltd. (The) |
1,565 | 12,614 | ||||||
Gold Fields Ltd. |
2,093 | 29,255 | ||||||
Impala Platinum Holdings Ltd. |
1,191 | 22,654 | ||||||
Motus Holdings Ltd.(b) |
2,464 | 17,670 |
Shares | Value | |||||||
South Africa-(continued) |
||||||||
Mr Price Group Ltd. |
957 | $ | 12,982 | |||||
Nedbank Group Ltd. |
983 | 13,905 | ||||||
Old Mutual Ltd. |
73,603 | 60,474 | ||||||
Pick n Pay Stores Ltd. |
3,893 | 11,589 | ||||||
Remgro Ltd. |
4,289 | 38,783 | ||||||
Sanlam Ltd. |
13,984 | 59,240 | ||||||
Sappi Ltd.(a) |
8,385 | 27,887 | ||||||
Sasol Ltd.(a) |
7,697 | 175,682 | ||||||
Shoprite Holdings Ltd. |
3,056 | 45,289 | ||||||
Sibanye Stillwater Ltd. |
5,636 | 26,419 | ||||||
SPAR Group Ltd. (The) |
1,811 | 19,230 | ||||||
Tiger Brands Ltd.(b) |
971 | 10,264 | ||||||
Woolworths Holdings Ltd. |
6,442 | 21,053 | ||||||
|
|
|||||||
782,158 | ||||||||
|
|
|||||||
Switzerland-0.06% |
||||||||
Mediclinic International PLC(a) |
3,892 | 17,260 | ||||||
|
|
|||||||
Taiwan-13.89% |
||||||||
Acer, Inc. |
24,169 | 25,124 | ||||||
ASE Technology Holding Co. Ltd. |
18,457 | 66,830 | ||||||
Asia Cement Corp. |
15,028 | 24,176 | ||||||
Asustek Computer, Inc. |
4,855 | 64,335 | ||||||
AU Optronics Corp. |
82,784 | 61,913 | ||||||
Catcher Technology Co. Ltd. |
7,100 | 36,288 | ||||||
Chailease Holding Co. Ltd. |
2,100 | 18,860 | ||||||
Cheng Shin Rubber Industry Co. Ltd. |
11,108 | 14,221 | ||||||
Chicony Electronics Co. Ltd. |
6,000 | 19,303 | ||||||
China Airlines Ltd.(a) |
25,401 | 26,014 | ||||||
China Development Financial Holding Corp. |
201,439 | 137,653 | ||||||
China Steel Corp. |
59,512 | 76,531 | ||||||
Chunghwa Telecom Co. Ltd. |
17,419 | 77,356 | ||||||
Compal Electronics, Inc. |
103,252 | 93,970 | ||||||
Delta Electronics, Inc. |
4,764 | 42,046 | ||||||
Eva Airways Corp.(a) |
24,716 | 29,216 | ||||||
Evergreen Marine Corp. Taiwan Ltd. |
4,000 | 20,594 | ||||||
Far Eastern New Century Corp. |
41,520 | 43,822 | ||||||
Far EasTone Telecommunications Co. Ltd. |
9,180 | 22,692 | ||||||
Formosa Chemicals & Fibre Corp. |
25,552 | 72,119 | ||||||
Formosa Plastics Corp. |
22,272 | 83,599 | ||||||
Foxconn Technology Co. Ltd. |
9,653 | 22,022 | ||||||
Fubon Financial Holding Co. Ltd. |
37,400 | 100,390 | ||||||
General Interface Solution Holding Ltd. |
4,000 | 12,992 | ||||||
Hon Hai Precision Industry Co. Ltd. |
144,589 | 532,556 | ||||||
Hotai Motor Co. Ltd. |
792 | 17,840 | ||||||
Innolux Corp. |
84,264 | 51,309 | ||||||
Inventec Corp. |
40,325 | 37,246 | ||||||
Largan Precision Co. Ltd. |
260 | 18,842 | ||||||
Lite-On Technology Corp. |
14,514 | 35,491 | ||||||
MediaTek, Inc. |
2,436 | 96,566 | ||||||
Mercuries & Associates Holding Ltd. |
30,518 | 23,208 | ||||||
Mercuries Life Insurance Co. Ltd.(a) |
82,587 | 26,299 | ||||||
Mercuries Life Insurance Co. Ltd., Rts., expiring 03/31/2022 |
10,642 | 254 | ||||||
Micro-Star International Co. Ltd. |
2,040 | 11,354 | ||||||
Nan Ya Plastics Corp. |
27,667 | 86,715 | ||||||
Nanya Technology Corp. |
6,468 | 17,875 | ||||||
Novatek Microelectronics Corp. |
889 | 14,555 | ||||||
Pegatron Corp. |
42,819 | 105,666 | ||||||
Pou Chen Corp. |
27,628 | 31,858 | ||||||
Powertech Technology, Inc. |
5,877 | 19,795 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
19 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Taiwan-(continued) |
||||||||
President Chain Store Corp. |
2,402 | $ | 22,430 | |||||
Qisda Corp. |
15,000 | 16,456 | ||||||
Quanta Computer, Inc. |
26,874 | 89,936 | ||||||
Radiant Opto-Electronics Corp. |
3,000 | 10,763 | ||||||
Realtek Semiconductor Corp. |
780 | 12,735 | ||||||
Shin Kong Financial Holding Co. Ltd. |
120,000 | 48,706 | ||||||
Silicon Motion Technology Corp., ADR |
224 | 16,249 | ||||||
Sino-American Silicon Products, Inc. |
2,586 | 16,885 | ||||||
Synnex Technology International Corp. |
12,879 | 33,277 | ||||||
Taiwan Cement Corp. |
24,481 | 41,347 | ||||||
Taiwan Mobile Co. Ltd. |
7,381 | 27,275 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. |
39,107 | 832,668 | ||||||
Teco Electric and Machinery Co. Ltd. |
13,556 | 14,552 | ||||||
TPK Holding Co. Ltd. |
8,240 | 11,328 | ||||||
Unimicron Technology Corp. |
4,519 | 41,306 | ||||||
Uni-President Enterprises Corp. |
29,385 | 70,446 | ||||||
United Microelectronics Corp. |
42,003 | 78,270 | ||||||
Walsin Lihwa Corp. |
22,141 | 22,099 | ||||||
Winbond Electronics Corp. |
12,000 | 14,194 | ||||||
Wistron Corp. |
69,194 | 72,563 | ||||||
WPG Holdings Ltd. |
28,406 | 56,529 | ||||||
Yageo Corp. |
1,150 | 18,553 | ||||||
Zhen Ding Technology Holding Ltd. |
5,101 | 16,936 | ||||||
|
|
|||||||
3,904,998 | ||||||||
|
|
|||||||
Thailand-1.39% |
||||||||
Advanced Info Service PCL, NVDR |
4,005 | 28,114 | ||||||
Airports of Thailand PCL, NVDR(a) |
6,825 | 13,479 | ||||||
Charoen Pokphand Foods PCL, NVDR |
25,371 | 19,606 | ||||||
CP ALL PCL, NVDR |
18,564 | 38,783 | ||||||
Indorama Ventures PCL, NVDR |
10,924 | 15,116 | ||||||
IRPC PCL, NVDR |
132,502 | 15,409 | ||||||
PTT Exploration & Production PCL, NVDR |
10,116 | 42,259 | ||||||
PTT Global Chemical PCL, NVDR |
16,835 | 27,414 | ||||||
PTT PCL, NVDR |
106,996 | 129,995 | ||||||
Siam Cement PCL (The), NVDR |
2,132 | 25,621 | ||||||
Thai Beverage PCL |
31,597 | 15,479 | ||||||
Thai Oil PCL, NVDR |
11,367 | 18,850 | ||||||
|
|
|||||||
390,125 | ||||||||
|
|
Investment Abbreviations:
ADR-American Depositary Receipt
GDR-Global Depositary Receipt
NVDR-Non-Voting Depositary Receipt
Rts.-Rights
TBA-To Be Announced
Shares | Value | |||||||
Turkey-0.59% |
||||||||
BIM Birlesik Magazalar A.S. |
2,868 | $ | 15,127 | |||||
Eregli Demir ve Celik Fabrikalari TAS |
20,413 | 45,776 | ||||||
Is Yatirim Menkul Degerler A.S. |
6,745 | 8,536 | ||||||
Turk Hava Yollari AO(a) |
14,400 | 26,619 | ||||||
Turkcell Iletisim Hizmetleri A.S. |
15,321 | 22,598 | ||||||
Turkiye Petrol Rafinerileri A.S.(a) |
2,633 | 36,646 | ||||||
Turkiye Vakiflar Bankasi T.A.O., Class D(a) |
39,165 | 9,438 | ||||||
|
|
|||||||
164,740 | ||||||||
|
|
|||||||
United Arab Emirates-0.28% |
||||||||
Aldar Properties PJSC |
17,846 | 20,456 | ||||||
Emaar Properties PJSC |
41,831 | 58,066 | ||||||
|
|
|||||||
78,522 | ||||||||
|
|
|||||||
United Republic of Tanzania-0.09% |
||||||||
AngloGold Ashanti Ltd. |
1,075 | 25,060 | ||||||
|
|
|||||||
United States-0.26% |
||||||||
JBS S.A. |
10,571 | 73,644 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES (excluding investments
purchased with cash collateral from securities on loan)-99.97% |
|
28,103,958 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-2.33% |
||||||||
Invesco Private Government Fund, 0.12%(e)(f)(g). |
196,561 | 196,561 | ||||||
Invesco Private Prime Fund, 0.08%(e)(f)(g) |
458,597 | 458,643 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
655,204 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-102.30% |
|
28,759,162 | ||||||
OTHER ASSETS LESS LIABILITIES-(2.30)% |
|
(647,235 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 28,111,927 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
20 | ||||
|
| |||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)–(continued)
February 28, 2022
(Unaudited)
Notes to Schedule of Investments:
(a) |
Non-income producing security. |
(b) |
All or a portion of this security was out on loan at February 28, 2022. |
(c) |
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at February 28, 2022 was $791,072, which represented 2.81% of the Fund’s Net Assets. |
(d) |
Security valued using significant unobservable inputs (Level 3). See Note 4. |
(e) |
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 February 28, 2022. |
Value August 31, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation |
Realized Gain (Loss) |
Value February 28, 2022 |
Dividend Income | |||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|||||||||||||||||||||||||||||||||||
Invesco Government &
Agency Portfolio, Institutional Class |
$ | - | $ | 2,489,313 | $ | (2,489,313 | ) | $ | - | $ | - | $ | - | $ | 10 | ||||||||||||||||||||
Investments Purchased with
Cash Collateral from Securities on Loan: |
|||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 122,013 | 1,591,797 | (1,517,249 | ) | - | - | 196,561 | 28 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 284,696 | 3,020,170 | (2,846,051 | ) | - | (172 | ) | 458,643 | 245 | * | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 406,709 | $ | 7,101,280 | $ | (6,852,613 | ) | $ | - | $ | (172 | ) | $ | 655,204 | $ | 283 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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. |
(f) |
The rate shown is the 7-day SEC standardized yield as of February 28, 2022. |
(g) |
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 February 28, 2022 |
| |||||||
Energy |
26.68 | |||||||
Financials |
16.10 | |||||||
Information Technology |
12.97 | |||||||
Materials |
9.83 | |||||||
Industrials |
7.80 | |||||||
Consumer Discretionary |
6.56 | |||||||
Communication Services |
6.13 | |||||||
Consumer Staples |
5.32 | |||||||
Utilities |
4.22 | |||||||
Real Estate |
3.05 | |||||||
Health Care |
1.31 | |||||||
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.
21 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)
February 28, 2022
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.82% |
| |||||||
Communication Services-10.64% |
||||||||
Activision Blizzard, Inc. |
2,047 | $ | 166,831 | |||||
Alphabet, Inc., Class A(b) |
2,546 | 6,877,102 | ||||||
Altice USA, Inc., Class A(b) |
6,335 | 73,233 | ||||||
AT&T, Inc. |
146,504 | 3,470,680 | ||||||
Charter Communications, Inc., Class A(b) |
1,312 | 789,535 | ||||||
Comcast Corp., Class A |
35,982 | 1,682,518 | ||||||
Discovery, Inc., Class A(b) |
7,877 | 220,950 | ||||||
DISH Network Corp., Class A(b) |
4,562 | 145,802 | ||||||
Electronic Arts, Inc. |
1,270 | 165,214 | ||||||
Fox Corp., Class A |
6,678 | 279,341 | ||||||
Interpublic Group of Cos., Inc. (The) |
3,729 | 137,227 | ||||||
Liberty Global PLC, Class C (United |
12,675 | 327,902 | ||||||
Liberty Media Corp.-Liberty SiriusXM, Class C(b) |
3,982 | 200,374 | ||||||
Loyalty Ventures, Inc.(b) |
292 | 7,008 | ||||||
Lumen Technologies, Inc.(c) |
29,777 | 308,490 | ||||||
Meta Platforms, Inc., Class A(b) |
8,322 | 1,756,192 | ||||||
Netflix, Inc.(b) |
377 | 148,734 | ||||||
News Corp., Class A |
4,938 | 110,216 | ||||||
Nexstar Media Group, Inc., Class A |
516 | 95,486 | ||||||
Omnicom Group, Inc. |
2,061 | 172,897 | ||||||
Paramount Global, Class B |
7,645 | 234,013 | ||||||
Sinclair Broadcast Group, Inc., Class A |
2,309 | 69,270 | ||||||
Take-Two Interactive Software, Inc.(b) |
328 | 53,136 | ||||||
Telephone & Data Systems, Inc. |
3,569 | 61,922 | ||||||
T-Mobile US, Inc.(b) |
5,871 | 723,366 | ||||||
Twitter, Inc.(b) |
1,957 | 69,571 | ||||||
Verizon Communications, Inc. |
47,731 | 2,561,723 | ||||||
Walt Disney Co. (The)(b) |
6,838 | 1,015,170 | ||||||
|
|
|||||||
21,923,903 | ||||||||
|
|
|||||||
Consumer Discretionary-9.94% |
||||||||
Adient PLC(b) |
1,526 | 68,289 | ||||||
Advance Auto Parts, Inc. |
621 | 126,982 | ||||||
Amazon.com, Inc.(b) |
971 | 2,982,193 | ||||||
Aptiv PLC(b) |
1,077 | 139,407 | ||||||
Aramark |
2,677 | 98,942 | ||||||
Asbury Automotive Group, Inc.(b) |
274 | 53,186 | ||||||
Autoliv, Inc. (Sweden) |
713 | 62,751 | ||||||
AutoNation, Inc.(b) |
1,050 | 120,393 | ||||||
AutoZone, Inc.(b) |
138 | 257,148 | ||||||
Bath & Body Works, Inc. |
1,323 | 70,609 | ||||||
Bed Bath & Beyond, Inc.(b)(c) |
3,073 | 51,903 | ||||||
Best Buy Co., Inc. |
3,389 | 327,513 | ||||||
Booking Holdings, Inc.(b) |
126 | 273,703 | ||||||
BorgWarner, Inc. |
2,205 | 90,427 | ||||||
Brunswick Corp. |
668 | 63,807 | ||||||
Capri Holdings Ltd.(b) |
1,099 | 74,446 | ||||||
CarMax, Inc.(b) |
1,304 | 142,566 | ||||||
Chipotle Mexican Grill, Inc.(b) |
49 | 74,644 | ||||||
D.R. Horton, Inc. |
2,473 | 211,194 | ||||||
Dana, Inc. |
2,256 | 42,007 | ||||||
Darden Restaurants, Inc. |
678 | 98,459 | ||||||
Dick’s Sporting Goods, Inc.(c) |
1,217 | 127,785 | ||||||
Dollar General Corp. |
2,094 | 415,324 | ||||||
Dollar Tree, Inc.(b) |
2,202 | 312,860 |
Shares | Value | |||||||
Consumer Discretionary-(continued) |
||||||||
eBay, Inc. |
7,482 | $ | 408,442 | |||||
Foot Locker, Inc.(c) |
1,261 | 39,873 | ||||||
Ford Motor Co. |
110,317 | 1,937,167 | ||||||
Gap, Inc. (The)(c) |
1,958 | 28,489 | ||||||
Garmin Ltd. |
573 | 63,282 | ||||||
General Motors Co.(b) |
22,193 | 1,036,857 | ||||||
Gentex Corp. |
1,658 | 50,188 | ||||||
Genuine Parts Co. |
1,323 | 161,618 | ||||||
Goodyear Tire & Rubber Co. (The)(b)(c) |
5,924 | 91,763 | ||||||
Group 1 Automotive, Inc. |
483 | 87,872 | ||||||
Hanesbrands, Inc. |
3,980 | 61,491 | ||||||
Harley-Davidson, Inc. |
1,549 | 63,974 | ||||||
Hasbro, Inc. |
840 | 81,522 | ||||||
Hilton Worldwide Holdings, Inc.(b) |
780 | 116,111 | ||||||
Home Depot, Inc. (The) |
5,282 | 1,668,214 | ||||||
Kohl’s Corp.(c) |
3,180 | 176,872 | ||||||
Lear Corp. |
766 | 120,522 | ||||||
Leggett & Platt, Inc.(c) |
1,055 | 39,119 | ||||||
Lennar Corp., Class A |
3,615 | 324,916 | ||||||
Lithia Motors, Inc., Class A |
259 | 88,272 | ||||||
LKQ Corp. |
2,665 | 125,122 | ||||||
Lowe’s Cos., Inc. |
5,333 | 1,178,913 | ||||||
Macy’s, Inc. |
8,948 | 231,932 | ||||||
Marriott International, Inc., Class A(b) |
1,105 | 188,005 | ||||||
Marriott Vacations Worldwide Corp. |
325 | 52,218 | ||||||
McDonald’s Corp. |
2,399 | 587,203 | ||||||
Mohawk Industries, Inc.(b) |
606 | 85,313 | ||||||
Murphy USA, Inc. |
581 | 105,010 | ||||||
Newell Brands, Inc. |
4,515 | 107,231 | ||||||
NIKE, Inc., Class B |
3,975 | 542,786 | ||||||
NVR, Inc.(b) |
22 | 109,086 | ||||||
ODP Corp. (The)(b) |
1,746 | 76,824 | ||||||
O’Reilly Automotive, Inc.(b) |
395 | 256,450 | ||||||
Penske Automotive Group, Inc. |
679 | 66,739 | ||||||
Polaris, Inc. |
585 | 71,083 | ||||||
PulteGroup, Inc. |
2,735 | 135,820 | ||||||
PVH Corp. |
975 | 95,443 | ||||||
Qurate Retail, Inc., Class A |
13,838 | 76,247 | ||||||
Ralph Lauren Corp.(c) |
671 | 88,599 | ||||||
Ross Stores, Inc. |
1,451 | 132,607 | ||||||
Service Corp. International |
1,447 | 88,050 | ||||||
Signet Jewelers Ltd. |
963 | 67,892 | ||||||
Starbucks Corp. |
3,181 | 291,984 | ||||||
Tapestry, Inc. |
1,906 | 77,955 | ||||||
Target Corp. |
3,973 | 793,686 | ||||||
Taylor Morrison Home Corp., Class A(b) |
2,569 | 75,786 | ||||||
Tenneco, Inc., Class A(b) |
5,888 | 113,521 | ||||||
Tesla, Inc.(b) |
469 | 408,232 | ||||||
Thor Industries, Inc.(c) |
586 | 53,033 | ||||||
TJX Cos., Inc. (The) |
5,782 | 382,190 | ||||||
Toll Brothers, Inc. |
1,928 | 104,613 | ||||||
Tractor Supply Co. |
686 | 139,800 | ||||||
Tri Pointe Homes, Inc.(b) |
2,461 | 55,053 | ||||||
Ulta Beauty, Inc.(b) |
266 | 99,617 | ||||||
VF Corp. |
2,013 | 116,794 | ||||||
Victoria’s Secret & Co.(b)(c) |
435 | 23,329 | ||||||
Wayfair, Inc., Class A(b)(c) |
266 | 37,471 | ||||||
Whirlpool Corp. |
787 | 158,399 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
22 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Consumer Discretionary-(continued) |
||||||||
Williams-Sonoma, Inc.(c) |
556 | $ | 80,542 | |||||
Yum! Brands, Inc. |
525 | 64,355 | ||||||
|
|
|||||||
20,478,035 | ||||||||
|
|
|||||||
Consumer Staples-9.08% |
||||||||
Altria Group, Inc. |
15,050 | 771,915 | ||||||
Archer-Daniels-Midland Co. |
6,023 | 472,504 | ||||||
BJ’s Wholesale Club Holdings, Inc.(b) |
2,059 | 129,449 | ||||||
Brown-Forman Corp., Class B |
861 | 56,163 | ||||||
Bunge Ltd. |
2,084 | 217,882 | ||||||
Campbell Soup Co. |
1,562 | 70,243 | ||||||
Casey’s General Stores, Inc. |
302 | 56,800 | ||||||
Church & Dwight Co., Inc. |
1,049 | 102,645 | ||||||
Clorox Co. (The) |
751 | 109,488 | ||||||
Coca-Cola Co. (The) |
17,974 | 1,118,702 | ||||||
Colgate-Palmolive Co. |
3,916 | 301,336 | ||||||
Conagra Brands, Inc. |
4,468 | 156,246 | ||||||
Constellation Brands, Inc., Class A |
892 | 192,333 | ||||||
Costco Wholesale Corp. |
3,276 | 1,701,063 | ||||||
Estee Lauder Cos., Inc. (The), Class A |
803 | 237,953 | ||||||
General Mills, Inc. |
4,736 | 319,348 | ||||||
Herbalife Nutrition Ltd.(b)(c) |
1,322 | 47,037 | ||||||
Hershey Co. (The) |
885 | 179,000 | ||||||
Hormel Foods Corp. |
2,952 | 140,633 | ||||||
Ingredion, Inc. |
777 | 68,951 | ||||||
JM Smucker Co. (The) |
1,219 | 164,260 | ||||||
Kellogg Co. |
2,265 | 144,824 | ||||||
Keurig Dr Pepper, Inc. |
4,316 | 166,900 | ||||||
Kimberly-Clark Corp. |
2,324 | 302,469 | ||||||
Kraft Heinz Co. (The) |
12,779 | 501,192 | ||||||
Kroger Co. (The) |
24,498 | 1,146,506 | ||||||
McCormick & Co., Inc. |
1,092 | 103,926 | ||||||
Molson Coors Beverage Co., Class B |
3,437 | 179,343 | ||||||
Mondelez International, Inc., Class A |
9,313 | 609,815 | ||||||
Monster Beverage Corp.(b) |
963 | 81,277 | ||||||
Nomad Foods Ltd. (United Kingdom)(b)(c) |
1,944 | 48,950 | ||||||
PepsiCo, Inc. |
7,614 | 1,246,716 | ||||||
Performance Food Group Co.(b) |
2,753 | 154,278 | ||||||
Philip Morris International, Inc. |
7,411 | 749,030 | ||||||
Post Holdings, Inc.(b) |
822 | 86,425 | ||||||
Procter & Gamble Co. (The) |
14,617 | 2,278,644 | ||||||
Rite Aid Corp.(b)(c) |
5,929 | 54,310 | ||||||
SpartanNash Co. |
2,629 | 73,980 | ||||||
Spectrum Brands Holdings, Inc. |
638 | 59,194 | ||||||
Sysco Corp. |
4,637 | 403,883 | ||||||
Tyson Foods, Inc., Class A |
5,393 | 499,715 | ||||||
United Natural Foods, Inc.(b) |
3,794 | 152,633 | ||||||
US Foods Holding Corp.(b) |
3,857 | 150,770 | ||||||
Walgreens Boots Alliance, Inc. |
16,000 | 737,440 | ||||||
Walmart, Inc. |
15,947 | 2,155,397 | ||||||
|
|
|||||||
18,701,568 | ||||||||
|
|
|||||||
Energy-8.92% |
||||||||
Antero Resources Corp.(b) |
5,788 | 132,719 | ||||||
APA Corp. |
3,996 | 142,377 | ||||||
Baker Hughes Co., Class A |
10,967 | 322,210 | ||||||
Cheniere Energy, Inc. |
1,268 | 168,517 | ||||||
Chevron Corp. |
25,232 | 3,633,408 | ||||||
ConocoPhillips |
12,787 | 1,212,975 | ||||||
Coterra Energy, Inc. |
3,644 | 85,015 | ||||||
Devon Energy Corp. |
4,899 | 291,735 |
Shares | Value | |||||||
Energy-(continued) |
||||||||
DT Midstream, Inc. |
936 | $ | 49,702 | |||||
EOG Resources, Inc. |
5,120 | 588,390 | ||||||
Exxon Mobil Corp. |
60,644 | 4,755,702 | ||||||
Halliburton Co. |
9,453 | 316,959 | ||||||
Helmerich & Payne, Inc.(c) |
2,150 | 77,895 | ||||||
Hess Corp. |
1,419 | 143,404 | ||||||
HollyFrontier Corp. |
4,130 | 125,759 | ||||||
Kinder Morgan, Inc. |
25,704 | 447,250 | ||||||
Marathon Petroleum Corp. |
13,022 | 1,014,023 | ||||||
NOV, Inc. |
6,340 | 108,731 | ||||||
Occidental Petroleum Corp. |
19,089 | 834,762 | ||||||
ONEOK, Inc. |
4,155 | 271,322 | ||||||
Ovintiv, Inc. |
6,156 | 282,253 | ||||||
PBF Energy, Inc., Class A(b) |
5,295 | 88,003 | ||||||
Phillips 66 |
8,826 | 743,502 | ||||||
Pioneer Natural Resources Co. |
1,447 | 346,701 | ||||||
Schlumberger N.V. |
14,967 | 587,305 | ||||||
Targa Resources Corp. |
3,750 | 245,138 | ||||||
TechnipFMC PLC (United Kingdom)(b) |
13,198 | 90,406 | ||||||
Valero Energy Corp. |
8,938 | 746,412 | ||||||
Williams Cos., Inc. (The) |
12,408 | 388,122 | ||||||
World Fuel Services Corp. |
4,440 | 125,830 | ||||||
|
|
|||||||
18,366,527 | ||||||||
|
|
|||||||
Financials-8.38% |
||||||||
Affiliated Managers Group, Inc. |
507 | 70,148 | ||||||
Alleghany Corp.(b) |
193 | 127,751 | ||||||
Allstate Corp. (The) |
5,467 | 668,942 | ||||||
American Express Co. |
3,953 | 769,017 | ||||||
Aon PLC, Class A |
1,028 | 300,320 | ||||||
Apollo Global Management, Inc.(c) |
996 | 64,999 | ||||||
Arch Capital Group Ltd.(b) |
4,706 | 221,700 | ||||||
Arthur J. Gallagher & Co. |
904 | 143,004 | ||||||
Assurant, Inc. |
870 | 147,648 | ||||||
AXIS Capital Holdings Ltd. |
1,434 | 78,325 | ||||||
Berkshire Hathaway, Inc., Class B(b) |
21,376 | 6,871,315 | ||||||
Blackstone, Inc., Class A |
3,461 | 441,174 | ||||||
Brown & Brown, Inc. |
1,077 | 72,816 | ||||||
Cboe Global Markets, Inc. |
880 | 103,215 | ||||||
Chubb Ltd. |
5,371 | 1,093,750 | ||||||
Cincinnati Financial Corp. |
1,315 | 161,469 | ||||||
Everest Re Group Ltd. |
731 | 217,999 | ||||||
Fidelity National Financial, Inc. |
3,203 | 152,591 | ||||||
First American Financial Corp. |
1,547 | 103,711 | ||||||
Franklin Resources, Inc. |
2,814 | 83,660 | ||||||
Globe Life, Inc. |
1,302 | 131,450 | ||||||
Hanover Insurance Group, Inc. (The) |
602 | 83,985 | ||||||
Hartford Financial Services Group, Inc. (The) |
5,332 | 370,467 | ||||||
Janus Henderson Group PLC |
2,297 | 77,110 | ||||||
Kemper Corp. |
925 | 49,432 | ||||||
Lazard Ltd., Class A |
1,150 | 39,767 | ||||||
Loews Corp. |
4,314 | 264,621 | ||||||
LPL Financial Holdings, Inc. |
499 | 90,294 | ||||||
Markel Corp.(b) |
128 | 159,092 | ||||||
Marsh & McLennan Cos., Inc. |
2,104 | 326,983 | ||||||
MGIC Investment Corp. |
4,635 | 70,359 | ||||||
Moody’s Corp. |
443 | 142,659 | ||||||
Mr. Cooper Group, Inc.(b) |
1,668 | 84,784 | ||||||
MSCI, Inc. |
152 | 76,257 | ||||||
Nasdaq, Inc. |
559 | 95,673 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
23 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Financials-(continued) |
||||||||
Old Republic International Corp. |
4,804 | $ | 126,585 | |||||
OneMain Holdings, Inc. |
2,013 | 102,623 | ||||||
Progressive Corp. (The) |
5,913 | 626,364 | ||||||
Radian Group, Inc. |
3,077 | 73,540 | ||||||
Raymond James Financial, Inc. |
2,116 | 232,019 | ||||||
Reinsurance Group of America, Inc. |
2,122 | 235,245 | ||||||
S&P Global, Inc.(c) |
1,096 | 411,722 | ||||||
StoneX Group, Inc.(b) |
3,194 | 240,987 | ||||||
T. Rowe Price Group, Inc. |
1,246 | 180,122 | ||||||
Travelers Cos., Inc. (The) |
3,746 | 643,675 | ||||||
Unum Group |
5,865 | 163,751 | ||||||
W.R. Berkley Corp. |
1,472 | 132,922 | ||||||
Willis Towers Watson PLC |
663 | 147,385 | ||||||
|
|
|||||||
17,273,427 | ||||||||
|
|
|||||||
Health Care-15.74% |
||||||||
Abbott Laboratories |
6,291 | 758,820 | ||||||
AbbVie, Inc. |
9,550 | 1,411,203 | ||||||
Agilent Technologies, Inc. |
1,033 | 134,662 | ||||||
Align Technology, Inc.(b) |
88 | 45,008 | ||||||
AmerisourceBergen Corp. |
5,911 | 842,495 | ||||||
Amgen, Inc.(c) |
3,595 | 814,196 | ||||||
Anthem, Inc. |
2,990 | 1,351,032 | ||||||
Avantor, Inc.(b) |
2,806 | 97,340 | ||||||
Baxter International, Inc. |
2,653 | 225,425 | ||||||
Becton, Dickinson and Co. |
1,641 | 445,170 | ||||||
Biogen, Inc.(b) |
2,487 | 524,782 | ||||||
Bio-Rad Laboratories, Inc., Class A(b) |
114 | 71,359 | ||||||
Boston Scientific Corp.(b) |
4,761 | 210,293 | ||||||
Bristol-Myers Squibb Co. |
19,817 | 1,360,833 | ||||||
Cardinal Health, Inc. |
14,351 | 775,098 | ||||||
Centene Corp.(b) |
9,513 | 785,964 | ||||||
Cerner Corp. |
2,163 | 201,700 | ||||||
Cigna Corp. |
5,442 | 1,293,999 | ||||||
Community Health Systems, Inc.(b) |
6,170 | 64,847 | ||||||
Cooper Cos., Inc. (The) |
149 | 60,944 | ||||||
CVS Health Corp. |
24,851 | 2,575,806 | ||||||
Danaher Corp. |
1,735 | 476,101 | ||||||
DaVita, Inc.(b) |
1,886 | 212,684 | ||||||
DENTSPLY SIRONA, Inc. |
1,261 | 68,271 | ||||||
Edwards Lifesciences Corp.(b) |
1,210 | 135,968 | ||||||
Elanco Animal Health, Inc.(b) |
1,729 | 49,121 | ||||||
Eli Lilly and Co. |
2,383 | 595,631 | ||||||
Encompass Health Corp. |
640 | 42,253 | ||||||
Gilead Sciences, Inc. |
11,189 | 675,816 | ||||||
HCA Healthcare, Inc. |
2,277 | 569,956 | ||||||
Henry Schein, Inc.(b) |
1,228 | 106,075 | ||||||
Hologic, Inc.(b) |
1,521 | 108,250 | ||||||
Humana, Inc. |
1,470 | 638,450 | ||||||
Illumina, Inc.(b) |
286 | 93,408 | ||||||
Intuitive Surgical, Inc.(b) |
505 | 146,617 | ||||||
IQVIA Holdings, Inc.(b) |
761 | 175,121 | ||||||
Jazz Pharmaceuticals PLC(b) |
370 | 50,845 | ||||||
Johnson & Johnson |
13,080 | 2,152,576 | ||||||
Laboratory Corp. of America Holdings(b) |
668 | 181,202 | ||||||
McKesson Corp. |
6,409 | 1,762,219 | ||||||
Medtronic PLC |
6,756 | 709,312 | ||||||
Merck & Co., Inc. |
15,225 | 1,165,931 | ||||||
Mettler-Toledo International, Inc.(b) |
58 | 81,707 | ||||||
Molina Healthcare, Inc.(b) |
619 | 189,953 |
Shares | Value | |||||||
Health Care-(continued) |
||||||||
PerkinElmer, Inc. |
409 | $ | 73,460 | |||||
Perrigo Co. PLC |
1,908 | 67,772 | ||||||
Pfizer, Inc. |
37,949 | 1,781,326 | ||||||
Quest Diagnostics, Inc. |
1,267 | 166,319 | ||||||
Regeneron Pharmaceuticals, Inc.(b) |
929 | 574,456 | ||||||
ResMed, Inc. |
335 | 82,661 | ||||||
STERIS PLC |
343 | 82,320 | ||||||
Stryker Corp. |
1,031 | 271,514 | ||||||
Tenet Healthcare Corp.(b) |
2,512 | 216,007 | ||||||
Thermo Fisher Scientific, Inc. |
1,444 | 785,536 | ||||||
UnitedHealth Group, Inc. |
6,360 | 3,026,533 | ||||||
Universal Health Services, Inc., Class B |
1,042 | 149,975 | ||||||
Vertex Pharmaceuticals, Inc.(b) |
880 | 202,418 | ||||||
Viatris, Inc. |
12,683 | 139,640 | ||||||
Waters Corp.(b) |
255 | 80,766 | ||||||
Zimmer Biomet Holdings, Inc. |
970 | 123,374 | ||||||
Zoetis, Inc. |
853 | 165,183 | ||||||
|
|
|||||||
32,427,703 | ||||||||
|
|
|||||||
Industrials-8.96% |
||||||||
3M Co. |
3,259 | 484,450 | ||||||
A.O. Smith Corp. |
809 | 55,481 | ||||||
Acuity Brands, Inc. |
301 | 54,893 | ||||||
AECOM |
1,803 | 131,006 | ||||||
AGCO Corp. |
572 | 68,732 | ||||||
AMETEK, Inc. |
766 | 99,419 | ||||||
Avis Budget Group, Inc.(b) |
904 | 165,830 | ||||||
Booz Allen Hamilton Holding Corp. |
965 | 77,866 | ||||||
Builders FirstSource, Inc.(b) |
1,235 | 91,909 | ||||||
C.H. Robinson Worldwide, Inc. |
1,307 | 126,361 | ||||||
CACI International, Inc., Class A(b) |
259 | 72,466 | ||||||
Carlisle Cos., Inc. |
436 | 103,506 | ||||||
Caterpillar, Inc. |
3,080 | 577,746 | ||||||
Cintas Corp. |
326 | 122,354 | ||||||
CSX Corp. |
12,072 | 409,362 | ||||||
Cummins, Inc. |
1,252 | 255,558 | ||||||
Deere & Co. |
1,411 | 507,988 | ||||||
Dover Corp. |
723 | 113,410 | ||||||
Eaton Corp. PLC |
2,958 | 456,390 | ||||||
EMCOR Group, Inc. |
634 | 73,252 | ||||||
Emerson Electric Co. |
3,606 | 335,070 | ||||||
Equifax, Inc. |
282 | 61,572 | ||||||
Expeditors International of Washington, Inc. |
810 | 83,722 | ||||||
Fastenal Co. |
2,114 | 108,786 | ||||||
FedEx Corp. |
2,064 | 458,765 | ||||||
Fluor Corp.(b)(c) |
4,847 | 104,986 | ||||||
Fortive Corp. |
1,687 | 109,233 | ||||||
Fortune Brands Home & Security, Inc. |
801 | 69,607 | ||||||
General Dynamics Corp. |
2,490 | 583,781 | ||||||
General Electric Co. |
7,332 | 700,279 | ||||||
GXO Logistics, Inc.(b) |
718 | 60,262 | ||||||
Honeywell International, Inc. |
3,613 | 685,567 | ||||||
Howmet Aerospace, Inc. |
2,159 | 77,551 | ||||||
Hubbell, Inc. |
344 | 61,318 | ||||||
Huntington Ingalls Industries, Inc. |
458 | 93,615 | ||||||
Illinois Tool Works, Inc. |
1,263 | 273,237 | ||||||
Ingersoll Rand, Inc. |
1,495 | 75,527 | ||||||
J.B. Hunt Transport Services, Inc. |
486 | 98,624 | ||||||
Jacobs Engineering Group, Inc. |
920 | 113,160 | ||||||
Johnson Controls International PLC |
7,632 | 495,775 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
24 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Industrials-(continued) |
||||||||
Knight-Swift Transportation Holdings, Inc. |
1,771 | $ | 96,484 | |||||
L3Harris Technologies, Inc. |
1,654 | 417,321 | ||||||
Leidos Holdings, Inc. |
1,271 | 129,439 | ||||||
Lockheed Martin Corp. |
1,998 | 866,732 | ||||||
ManpowerGroup, Inc. |
1,230 | 130,724 | ||||||
Masco Corp. |
1,968 | 110,287 | ||||||
MasTec, Inc.(b)(c) |
461 | 36,308 | ||||||
MDU Resources Group, Inc. |
2,182 | 58,412 | ||||||
MSC Industrial Direct Co., Inc., Class A |
604 | 46,798 | ||||||
Nielsen Holdings PLC |
2,831 | 49,316 | ||||||
Norfolk Southern Corp. |
1,442 | 369,902 | ||||||
Northrop Grumman Corp. |
1,283 | 567,266 | ||||||
Old Dominion Freight Line, Inc. |
313 | 98,291 | ||||||
Oshkosh Corp.(c) |
586 | 65,069 | ||||||
Owens Corning |
1,018 | 94,867 | ||||||
PACCAR, Inc. |
3,320 | 304,809 | ||||||
Parker-Hannifin Corp. |
668 | 197,989 | ||||||
Pentair PLC |
843 | 48,818 | ||||||
Quanta Services, Inc. |
1,327 | 144,563 | ||||||
Raytheon Technologies Corp. |
10,684 | 1,097,247 | ||||||
Republic Services, Inc. |
1,258 | 151,312 | ||||||
Robert Half International, Inc. |
765 | 92,022 | ||||||
Rockwell Automation, Inc. |
450 | 119,961 | ||||||
Roper Technologies, Inc. |
313 | 140,293 | ||||||
Rush Enterprises, Inc., Class A |
1,078 | 55,991 | ||||||
Ryder System, Inc. |
1,473 | 116,131 | ||||||
Schneider National, Inc., Class B |
2,281 | 59,580 | ||||||
Science Applications International Corp. |
763 | 66,908 | ||||||
Sensata Technologies Holding PLC(b) |
918 | 53,161 | ||||||
Snap-on, Inc. |
364 | 76,506 | ||||||
Southwest Airlines Co.(b) |
900 | 39,420 | ||||||
Stanley Black & Decker, Inc. |
933 | 151,799 | ||||||
Textron, Inc. |
1,984 | 145,090 | ||||||
Trane Technologies PLC |
1,004 | 154,546 | ||||||
TransDigm Group, Inc.(b) |
252 | 167,981 | ||||||
TransUnion |
493 | 44,745 | ||||||
Trinity Industries, Inc.(c) |
2,083 | 60,115 | ||||||
Uber Technologies, Inc.(b) |
1,096 | 39,489 | ||||||
Union Pacific Corp. |
3,656 | 899,193 | ||||||
United Parcel Service, Inc., Class B |
4,282 | 901,019 | ||||||
United Rentals, Inc.(b) |
524 | 168,529 | ||||||
Univar Solutions, Inc.(b) |
2,207 | 67,777 | ||||||
Verisk Analytics, Inc. |
497 | 88,138 | ||||||
W.W. Grainger, Inc. |
285 | 135,962 | ||||||
Wabtec Corp. |
1,687 | 156,587 | ||||||
Waste Connections, Inc. |
1,060 | 130,899 | ||||||
Waste Management, Inc. |
1,989 | 287,212 | ||||||
Watsco, Inc. |
206 | 56,250 | ||||||
WESCO International, Inc.(b) |
694 | 84,481 | ||||||
XPO Logistics, Inc.(b) |
725 | 52,693 | ||||||
Xylem, Inc. |
670 | 59,597 | ||||||
|
|
|||||||
18,452,445 | ||||||||
|
|
|||||||
Information Technology-21.31% |
||||||||
Accenture PLC, Class A |
2,856 | 902,553 | ||||||
Adobe, Inc.(b) |
1,002 | 468,615 | ||||||
Advanced Micro Devices, Inc.(b) |
1,256 | 154,915 | ||||||
Akamai Technologies, Inc.(b) |
796 | 86,175 | ||||||
Alliance Data Systems Corp. |
785 | 52,948 | ||||||
Amdocs Ltd. |
1,254 | 98,690 |
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
Amphenol Corp., Class A |
2,436 | $ | 185,160 | |||||
Analog Devices, Inc. |
1,471 | 235,787 | ||||||
ANSYS, Inc.(b) |
169 | 54,788 | ||||||
Apple, Inc. |
75,235 | 12,422,803 | ||||||
Applied Materials, Inc. |
2,756 | 369,855 | ||||||
Arista Networks, Inc.(b) |
729 | 89,470 | ||||||
Arrow Electronics, Inc.(b) |
1,863 | 227,063 | ||||||
Autodesk, Inc.(b) |
344 | 75,759 | ||||||
Automatic Data Processing, Inc. |
1,680 | 343,459 | ||||||
Avnet, Inc. |
3,092 | 130,080 | ||||||
Block, Inc., Class A(b) |
371 | 47,303 | ||||||
Broadcom, Inc. |
2,103 | 1,235,386 | ||||||
Broadridge Financial Solutions, Inc. |
417 | 60,970 | ||||||
Cadence Design Systems, Inc.(b) |
613 | 92,827 | ||||||
CDW Corp. |
965 | 166,424 | ||||||
Cisco Systems, Inc. |
28,021 | 1,562,731 | ||||||
Citrix Systems, Inc. |
1,048 | 107,420 | ||||||
Cognizant Technology Solutions Corp., Class A |
4,777 | 411,443 | ||||||
CommScope Holding Co., Inc.(b) |
3,295 | 31,434 | ||||||
Corning, Inc. |
5,217 | 210,767 | ||||||
Dell Technologies, Inc., Class C(b) |
6,993 | 356,363 | ||||||
DXC Technology Co.(b) |
4,915 | 167,258 | ||||||
Fiserv, Inc.(b) |
3,808 | 371,927 | ||||||
FleetCor Technologies, Inc.(b) |
469 | 109,840 | ||||||
Flex Ltd.(b) |
6,767 | 111,588 | ||||||
Fortinet, Inc.(b) |
407 | 140,220 | ||||||
Gartner, Inc.(b) |
255 | 71,507 | ||||||
GoDaddy, Inc., Class A(b) |
935 | 77,988 | ||||||
Hewlett Packard Enterprise Co. |
23,385 | 372,289 | ||||||
HP, Inc. |
19,275 | 662,289 | ||||||
Insight Enterprises, Inc.(b)(c) |
549 | 57,096 | ||||||
Intel Corp. |
53,319 | 2,543,316 | ||||||
International Business Machines Corp. |
8,798 | 1,077,843 | ||||||
Intuit, Inc. |
467 | 221,531 | ||||||
Jabil, Inc. |
3,176 | 183,605 | ||||||
Juniper Networks, Inc. |
4,064 | 137,323 | ||||||
Keysight Technologies, Inc.(b) |
660 | 103,864 | ||||||
KLA Corp. |
572 | 199,342 | ||||||
Kyndryl Holdings, Inc.(b) |
1,727 | 27,390 | ||||||
Lam Research Corp. |
476 | 267,203 | ||||||
Marvell Technology, Inc. |
2,471 | 168,843 | ||||||
Mastercard, Inc., Class A |
1,878 | 677,620 | ||||||
Microchip Technology, Inc. |
1,734 | 121,952 | ||||||
Micron Technology, Inc. |
7,374 | 655,254 | ||||||
Microsoft Corp. |
22,177 | 6,626,266 | ||||||
Motorola Solutions, Inc. |
640 | 141,075 | ||||||
NCR Corp.(b)(c) |
1,452 | 58,835 | ||||||
NetApp, Inc. |
1,624 | 127,289 | ||||||
NortonLifeLock, Inc. |
15,274 | 442,641 | ||||||
NVIDIA Corp. |
2,472 | 602,797 | ||||||
ON Semiconductor Corp.(b) |
1,870 | 117,081 | ||||||
Oracle Corp. |
14,818 | 1,125,724 | ||||||
Palo Alto Networks, Inc.(b) |
342 | 203,234 | ||||||
Paychex, Inc. |
1,146 | 136,443 | ||||||
PayPal Holdings, Inc.(b) |
2,000 | 223,860 | ||||||
Qorvo, Inc.(b) |
589 | 80,563 | ||||||
QUALCOMM, Inc. |
5,133 | 882,825 | ||||||
salesforce.com, inc.(b) |
2,030 | 427,376 | ||||||
Sanmina Corp.(b) |
1,405 | 55,891 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
25 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
Seagate Technology Holdings PLC |
2,199 | $ | 226,849 | |||||
ServiceNow, Inc.(b) |
224 | 129,902 | ||||||
Skyworks Solutions, Inc. |
820 | 113,299 | ||||||
SS&C Technologies Holdings, Inc. |
1,321 | 99,035 | ||||||
Synopsys, Inc.(b) |
420 | 131,204 | ||||||
TD SYNNEX Corp. |
1,168 | 118,937 | ||||||
TE Connectivity Ltd. (Switzerland) |
1,893 | 269,620 | ||||||
Teradyne, Inc. |
496 | 58,488 | ||||||
Texas Instruments, Inc. |
3,449 | 586,296 | ||||||
Trimble, Inc.(b) |
785 | 54,754 | ||||||
VeriSign, Inc.(b) |
273 | 58,346 | ||||||
Visa, Inc., Class A(c) |
5,469 | 1,181,960 | ||||||
VMware, Inc., Class A |
4,328 | 507,761 | ||||||
Western Digital Corp.(b) |
2,595 | 132,189 | ||||||
Western Union Co. (The)(c) |
3,445 | 62,630 | ||||||
Workday, Inc., Class A(b) |
268 | 61,385 | ||||||
Xerox Holdings Corp. |
5,162 | 101,743 | ||||||
Zebra Technologies Corp., Class A(b) |
136 | 56,214 | ||||||
|
|
|||||||
43,910,788 | ||||||||
|
|
|||||||
Materials-3.72% |
||||||||
Air Products and Chemicals, Inc. |
905 | 213,851 | ||||||
Albemarle Corp. |
458 | 89,718 | ||||||
Alcoa Corp. |
2,312 | 174,186 | ||||||
Amcor PLC |
16,451 | 191,325 | ||||||
Avery Dennison Corp. |
374 | 65,899 | ||||||
Ball Corp. |
1,625 | 145,828 | ||||||
Berry Global Group, Inc.(b) |
1,520 | 92,188 | ||||||
Celanese Corp. |
840 | 116,995 | ||||||
CF Industries Holdings, Inc. |
1,947 | 158,077 | ||||||
Chemours Co. (The) |
1,748 | 48,245 | ||||||
Commercial Metals Co. |
1,857 | 71,587 | ||||||
Corteva, Inc. |
6,917 | 359,892 | ||||||
Crown Holdings, Inc. |
913 | 111,998 | ||||||
Dow, Inc. |
8,229 | 485,182 | ||||||
DuPont de Nemours, Inc. |
6,254 | 483,872 | ||||||
Eastman Chemical Co. |
1,204 | 142,638 | ||||||
Ecolab, Inc. |
824 | 145,238 | ||||||
FMC Corp. |
668 | 78,323 | ||||||
Freeport-McMoRan, Inc. |
4,735 | 222,308 | ||||||
Graphic Packaging Holding Co. |
4,468 | 91,951 | ||||||
Huntsman Corp. |
2,594 | 104,901 | ||||||
International Flavors & Fragrances, Inc. |
792 | 105,336 | ||||||
International Paper Co. |
4,471 | 194,623 | ||||||
Linde PLC (United Kingdom) |
3,049 | 894,089 | ||||||
LyondellBasell Industries N.V., Class A |
3,222 | 313,275 | ||||||
Martin Marietta Materials, Inc. |
274 | 103,956 | ||||||
Mosaic Co. (The) |
3,926 | 205,840 | ||||||
Newmont Corp. |
5,413 | 358,341 | ||||||
Nucor Corp. |
2,734 | 359,849 | ||||||
Olin Corp. |
1,385 | 71,341 | ||||||
Packaging Corp. of America |
650 | 95,674 | ||||||
PPG Industries, Inc. |
1,056 | 140,923 | ||||||
Reliance Steel & Aluminum Co. |
817 | 155,941 | ||||||
RPM International, Inc. |
730 | 61,736 | ||||||
Sherwin-Williams Co. (The) |
1,124 | 295,758 | ||||||
Sonoco Products Co. |
931 | 54,668 | ||||||
Steel Dynamics, Inc. |
1,988 | 140,313 | ||||||
Sylvamo Corp.(b) |
408 | 14,239 | ||||||
Ternium S.A., ADR (Mexico) |
3,456 | 135,752 |
Shares | Value | |||||||
Materials-(continued) |
||||||||
United States Steel Corp.(c) |
3,410 | $ | 92,786 | |||||
Vulcan Materials Co. |
565 | 102,519 | ||||||
WestRock Co. |
3,957 | 179,133 | ||||||
|
|
|||||||
7,670,294 | ||||||||
|
|
|||||||
Real Estate-0.70% |
||||||||
American Tower Corp. |
1,260 | 285,856 | ||||||
CBRE Group, Inc., Class A(b) |
2,155 | 208,712 | ||||||
Equinix, Inc. |
243 | 172,464 | ||||||
Iron Mountain, Inc. |
2,144 | 105,442 | ||||||
Jones Lang LaSalle, Inc.(b) |
591 | 145,516 | ||||||
Public Storage |
783 | 277,981 | ||||||
SBA Communications Corp., Class A |
354 | 107,400 | ||||||
Weyerhaeuser Co. |
3,544 | 137,791 | ||||||
|
|
|||||||
1,441,162 | ||||||||
|
|
|||||||
Utilities-2.43% |
||||||||
AES Corp. (The) |
5,848 | 124,153 | ||||||
Alliant Energy Corp. |
1,345 | 78,548 | ||||||
Ameren Corp. |
1,883 | 161,844 | ||||||
American Electric Power Co., Inc. |
4,244 | 384,719 | ||||||
Atmos Energy Corp. |
823 | 90,374 | ||||||
CenterPoint Energy, Inc. |
6,039 | 165,167 | ||||||
CMS Energy Corp. |
1,755 | 112,337 | ||||||
Consolidated Edison, Inc. |
3,499 | 300,109 | ||||||
Constellation Energy Corp. |
4,286 | 197,070 | ||||||
DTE Energy Co. |
1,906 | 231,750 | ||||||
Edison International |
3,958 | 251,016 | ||||||
Entergy Corp. |
2,212 | 232,724 | ||||||
Evergy, Inc. |
2,698 | 168,382 | ||||||
Eversource Energy |
2,659 | 217,506 | ||||||
Exelon Corp. |
12,869 | 547,705 | ||||||
FirstEnergy Corp. |
5,189 | 217,160 | ||||||
NiSource, Inc. |
4,334 | 125,383 | ||||||
NRG Energy, Inc. |
3,770 | 142,657 | ||||||
OGE Energy Corp. |
2,064 | 77,503 | ||||||
Pinnacle West Capital Corp. |
1,148 | 81,313 | ||||||
Public Service Enterprise Group, Inc. |
4,608 | 298,737 | ||||||
UGI Corp. |
2,184 | 83,953 | ||||||
Vistra Corp. |
11,540 | 263,343 | ||||||
WEC Energy Group, Inc. |
2,231 | 202,753 | ||||||
Xcel Energy, Inc. |
3,721 | 250,535 | ||||||
|
|
|||||||
5,006,741 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
205,652,593 | ||||||
|
|
|||||||
Money Market Funds-0.01% |
| |||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(d)(e) |
28,209 | 28,209 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
205,680,802 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
26 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-1.86% |
||||||||
Invesco Private Government Fund, |
1,145,437 | $ | 1,145,437 | |||||
Invesco Private Prime Fund, 0.08%(d)(e)(f) |
2,678,155 | 2,678,422 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
3,823,859 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-101.69% |
|
209,504,661 | ||||||
OTHER ASSETS LESS LIABILITIES-(1.69)% |
|
(3,480,989 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
|
$ | 206,023,672 | |||||
|
|
Investment Abbreviations:
ADR-American Depositary Receipt
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 February 28, 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 February 28, 2022. |
Value August 31, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation (Depreciation) |
Realized Gain (Loss) |
Value February 28, 2022 |
Dividend Income | |||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: |
|||||||||||||||||||||||||||||||||||
Invesco Government &
Agency Portfolio, Institutional Class |
$ | - | $ | 2,302,268 | $ | (2,274,059 | ) | $ | - | $ | - | $ | 28,209 | $ | 18 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: |
|||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 303,264 | 3,647,215 | (2,805,042 | ) | - | - | 1,145,437 | 103 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 707,615 | 7,263,428 | (5,292,100 | ) | (185 | ) | (336 | ) | 2,678,422 | 831 | * | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 1,010,879 | $ | 13,212,911 | $ | (10,371,201 | ) | $ | (185 | ) | $ | (336 | ) | $ | 3,852,068 | $ | 952 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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 February 28, 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.
27 | ||||
|
| |||
Invesco RAFITM Strategic US ETF (IUS)–(continued)
February 28, 2022
(Unaudited)
Portfolio Composition
Sector Breakdown (% of the Fund’s Net Assets)
as of February 28, 2022
Information Technology |
21.31 | |||||||
Health Care |
15.74 | |||||||
Communication Services |
10.64 | |||||||
Consumer Discretionary |
9.94 | |||||||
Consumer Staples |
9.08 | |||||||
Industrials |
8.96 | |||||||
Energy |
8.92 | |||||||
Financials |
8.38 | |||||||
Materials |
3.72 | |||||||
Sector Types Each Less Than 3% |
3.13 | |||||||
Money Market Funds Plus Other Assets Less Liabilities |
0.18 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
28 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)
February 28, 2022
(Unaudited)
Schedule of Investments(a)
Shares | Value | |||||||
Common Stocks & Other Equity Interests-99.89% |
| |||||||
Communication Services-3.46% |
||||||||
Advantage Solutions, Inc.(b)(c) |
725 | $ | 5,706 | |||||
AMC Networks, Inc., Class A(b)(c) |
2,174 | 90,112 | ||||||
Angi, Inc., Class A(b)(c) |
4,593 | 31,646 | ||||||
ATN International, Inc. |
366 | 12,199 | ||||||
Audacy, Inc.(b)(c) |
7,926 | 24,571 | ||||||
Bandwidth, Inc., Class A(b)(c) |
78 | 2,383 | ||||||
Cable One, Inc. |
37 | 53,015 | ||||||
Cardlytics, Inc.(b)(c) |
43 | 2,494 | ||||||
Cargurus, Inc.(b) |
641 | 31,056 | ||||||
Cars.com, Inc.(b) |
1,822 | 29,480 | ||||||
Cogent Communications Holdings, Inc. |
377 | 23,902 | ||||||
comScore, Inc.(b)(c) |
1,887 | 4,944 | ||||||
Consolidated Communications Holdings, |
4,714 | 33,564 | ||||||
E.W. Scripps Co. (The), Class A(b) |
1,884 | 41,938 | ||||||
EchoStar Corp., Class A(b) |
4,939 | 120,215 | ||||||
EverQuote, Inc., Class A(b) |
164 | 2,440 | ||||||
Globalstar, Inc.(b) |
2,616 | 3,087 | ||||||
Gravity Co. Ltd., ADR (South Korea)(b) |
44 | 2,272 | ||||||
Gray Television, Inc.(c) |
4,467 | 104,662 | ||||||
iClick Interactive Asia Group Ltd., ADR |
393 | 951 | ||||||
iHeartMedia, Inc., Class A(b) |
3,593 | 77,070 | ||||||
Iridium Communications, Inc.(b) |
1,196 | 47,350 | ||||||
John Wiley & Sons, Inc., Class A |
1,135 | 57,102 | ||||||
Liberty Latin America Ltd., Class A (Chile)(b) |
4,126 | 41,466 | ||||||
Lions Gate Entertainment Corp., |
5,932 | 91,116 | ||||||
Madison Square Garden Sports Corp., Class A(b) . |
115 | 19,895 | ||||||
Magnite, Inc.(b)(c) |
214 | 3,120 | ||||||
Manchester United PLC, Class A |
1,988 | 26,739 | ||||||
New York Times Co. (The), Class A |
1,589 | 69,900 | ||||||
Pinterest, Inc., Class A(b) |
1,344 | 35,952 | ||||||
QuinStreet, Inc.(b) |
737 | 8,291 | ||||||
Roku, Inc., Class A(b) |
127 | 17,720 | ||||||
Scholastic Corp. |
1,180 | 49,654 | ||||||
Sirius XM Holdings, Inc.(c) |
18,059 | 111,243 | ||||||
Snap, Inc., Class A(b) |
726 | 28,996 | ||||||
Spok Holdings, Inc. |
747 | 6,544 | ||||||
TechTarget, Inc.(b)(c) |
125 | 9,797 | ||||||
TEGNA, Inc. |
5,824 | 133,486 | ||||||
TripAdvisor, Inc.(b) |
1,714 | 43,604 | ||||||
TrueCar, Inc.(b) |
2,776 | 9,272 | ||||||
United States Cellular Corp.(b) |
1,415 | 38,927 | ||||||
WideOpenWest, Inc.(b) |
1,018 | 17,296 | ||||||
World Wrestling Entertainment, Inc., Class A(c) |
945 | 56,001 | ||||||
Yelp, Inc.(b) |
1,442 | 48,869 | ||||||
Ziff Davis, Inc.(b) |
737 | 74,142 | ||||||
Zynga, Inc., Class A(b) |
7,922 | 71,932 | ||||||
|
|
|||||||
1,816,121 | ||||||||
|
|
|||||||
Consumer Discretionary-15.00% |
||||||||
1-800-Flowers.com, Inc., Class A(b)(c) |
1,211 | 18,746 | ||||||
2U, Inc.(b)(c) |
624 | 6,552 | ||||||
Abercrombie & Fitch Co., Class A(b) |
2,351 | 89,526 | ||||||
Accel Entertainment, Inc.(b) |
272 | 3,560 | ||||||
Acushnet Holdings Corp. |
523 | 22,907 | ||||||
Adtalem Global Education, Inc.(b) |
1,657 | 34,432 |
Shares | Value | |||||||
Consumer Discretionary-(continued) |
||||||||
American Axle & Manufacturing Holdings, Inc.(b) |
9,015 | $ | 83,479 | |||||
American Eagle Outfitters, Inc.(c) |
2,613 | 55,082 | ||||||
American Public Education, Inc.(b) |
552 | 11,018 | ||||||
America’s Car-Mart, Inc.(b) |
98 | 9,426 | ||||||
Arko Corp.(b) |
1,088 | 9,085 | ||||||
Bally’s Corp.(b) |
375 | 13,508 | ||||||
Beazer Homes USA, Inc.(b) |
2,372 | 38,830 | ||||||
Big Lots, Inc.(c) |
2,055 | 71,432 | ||||||
Biglari Holdings, Inc., Class B(b) |
67 | 9,208 | ||||||
BJ’s Restaurants, Inc.(b) |
440 | 14,111 | ||||||
Bloomin’ Brands, Inc.(b) |
1,993 | 49,048 | ||||||
Bluegreen Vacations Holding Corp.(b) |
1,125 | 31,883 | ||||||
Boot Barn Holdings, Inc.(b) |
286 | 24,888 | ||||||
Boyd Gaming Corp.(b) |
916 | 64,981 | ||||||
Bright Horizons Family Solutions, Inc.(b) |
453 | 59,180 | ||||||
Brinker International, Inc.(b) |
862 | 36,669 | ||||||
Buckle, Inc. (The)(c) |
670 | 24,120 | ||||||
Burlington Stores, Inc.(b) |
394 | 89,001 | ||||||
Caesars Entertainment, Inc.(b) |
576 | 48,493 | ||||||
Caleres, Inc. |
1,888 | 39,195 | ||||||
Callaway Golf Co.(b)(c) |
902 | 22,315 | ||||||
Camping World Holdings, Inc., Class A |
2,668 | 81,934 | ||||||
Carrols Restaurant Group, Inc. |
3,382 | 8,928 | ||||||
Carter’s, Inc. |
1,060 | 102,481 | ||||||
Carvana Co.(b) |
64 | 9,630 | ||||||
Cato Corp. (The), Class A |
1,025 | 18,040 | ||||||
Cavco Industries, Inc.(b) |
144 | 39,259 | ||||||
Century Communities, Inc. |
865 | 55,118 | ||||||
Cheesecake Factory, Inc. (The)(b)(c) |
732 | 31,322 | ||||||
Chegg, Inc.(b)(c) |
548 | 17,136 | ||||||
Chewy, Inc., Class A(b)(c) |
813 | 38,325 | ||||||
Chico’s FAS, Inc.(b)(c) |
5,723 | 26,898 | ||||||
Children’s Place, Inc. (The)(b) |
336 | 21,155 | ||||||
Choice Hotels International, Inc. |
211 | 30,458 | ||||||
Churchill Downs, Inc. |
237 | 57,086 | ||||||
Chuy’s Holdings, Inc.(b) |
271 | 8,835 | ||||||
Citi Trends, Inc.(b)(c) |
235 | 8,768 | ||||||
Columbia Sportswear Co. |
590 | 54,705 | ||||||
Conn’s, Inc.(b) |
1,801 | 33,030 | ||||||
Cooper-Standard Holdings, Inc.(b) |
1,440 | 18,317 | ||||||
Cracker Barrel Old Country Store, Inc.(c) |
437 | 58,676 | ||||||
Crocs, Inc.(b) |
494 | 41,363 | ||||||
Dave & Buster’s Entertainment, Inc.(b) |
1,014 | 43,947 | ||||||
Deckers Outdoor Corp.(b) |
263 | 75,912 | ||||||
Denny’s Corp.(b) |
677 | 10,710 | ||||||
Designer Brands, Inc., Class A(b)(c) |
2,284 | 29,806 | ||||||
Dillard’s, Inc., Class A(c) |
647 | 162,209 | ||||||
Dine Brands Global, Inc. |
247 | 20,708 | ||||||
Domino’s Pizza, Inc. |
296 | 127,934 | ||||||
Dorman Products, Inc.(b) |
381 | 35,593 | ||||||
DraftKings, Inc., Class A(b)(c) |
955 | 22,614 | ||||||
El Pollo Loco Holdings, Inc.(b) |
384 | 5,096 | ||||||
Ethan Allen Interiors, Inc. |
707 | 18,424 | ||||||
Etsy, Inc.(b) |
584 | 90,456 | ||||||
Everi Holdings, Inc.(b) |
612 | 14,321 | ||||||
Expedia Group, Inc.(b) |
620 | 121,588 | ||||||
Express, Inc.(b)(c) |
5,039 | 23,986 | ||||||
Farfetch Ltd., Class A (United Kingdom)(b) |
526 | 10,020 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
29 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Consumer Discretionary-(continued) |
| |||||||
Fiesta Restaurant Group, Inc.(b) |
955 | $ | 9,617 | |||||
Five Below, Inc.(b) |
325 | 53,173 | ||||||
Fiverr International Ltd.(b) |
20 | 1,578 | ||||||
Floor & Decor Holdings, Inc., Class A(b) |
616 | 58,902 | ||||||
Fossil Group, Inc.(b) |
2,427 | 32,813 | ||||||
Fox Factory Holding Corp.(b) |
169 | 19,945 | ||||||
Franchise Group, Inc. |
721 | 30,390 | ||||||
frontdoor, inc.(b) |
526 | 15,806 | ||||||
Funko, Inc., Class A(b) |
508 | 8,870 | ||||||
GameStop Corp., Class A(b)(c) |
453 | 55,873 | ||||||
Genesco, Inc.(b) |
838 | 53,758 | ||||||
Gentherm, Inc.(b) |
442 | 37,499 | ||||||
G-III Apparel Group Ltd.(b) |
1,930 | 53,538 | ||||||
Golden Entertainment, Inc.(b) |
282 | 16,054 | ||||||
GoPro, Inc., Class A(b)(c) |
1,766 | 15,188 | ||||||
Graham Holdings Co., Class B |
184 | 110,608 | ||||||
Grand Canyon Education, Inc.(b) |
780 | 67,727 | ||||||
Green Brick Partners, Inc.(b) |
976 | 22,633 | ||||||
Groupon, Inc.(b)(c) |
520 | 11,294 | ||||||
GrowGeneration Corp.(b) |
60 | 505 | ||||||
Guess?, Inc.(c) |
1,349 | 29,543 | ||||||
H&R Block, Inc. |
5,146 | 127,672 | ||||||
Haverty Furniture Cos., Inc., (Acquired 06/19/2019 -
01/26/2022; |
559 | 15,881 | ||||||
Helen of Troy Ltd.(b)(c) |
364 | 74,864 | ||||||
Hibbett, Inc. |
458 | 20,647 | ||||||
Hilton Grand Vacations, Inc.(b) |
849 | 44,029 | ||||||
Hooker Furnishings Corp. |
421 | 8,841 | ||||||
Houghton Mifflin Harcourt Co.(b) |
3,485 | 73,011 | ||||||
Hyatt Hotels Corp., Class A(b) |
1,407 | 136,634 | ||||||
Installed Building Products, Inc. |
267 | 25,819 | ||||||
International Game Technology PLC(c) |
3,010 | 92,166 | ||||||
iRobot Corp.(b) |
454 | 28,221 | ||||||
Jack in the Box, Inc.(c) |
307 | 26,485 | ||||||
Johnson Outdoors, Inc., Class A |
135 | 11,133 | ||||||
KB Home |
3,029 | 116,950 | ||||||
Kontoor Brands, Inc. |
811 | 40,177 | ||||||
Lands’ End, Inc.(b) |
510 | 8,650 | ||||||
Laureate Education, Inc., Class A |
6,076 | 65,864 | ||||||
La-Z-Boy, Inc. |
1,295 | 37,788 | ||||||
LCI Industries |
495 | 61,637 | ||||||
Levi Strauss & Co., Class A |
4,745 | 107,474 | ||||||
LGI Homes, Inc.(b)(c) |
320 | 40,362 | ||||||
Liquidity Services, Inc.(b) |
217 | 3,739 | ||||||
Lovesac Co. (The)(b)(c) |
63 | 2,677 | ||||||
lululemon athletica, inc.(b) |
418 | 133,735 | ||||||
M.D.C. Holdings, Inc. |
1,177 | 52,188 | ||||||
M/I Homes, Inc.(b) |
956 | 47,121 | ||||||
Malibu Boats, Inc., Class A(b)(c) |
265 | 18,463 | ||||||
MarineMax, Inc.(b) |
809 | 37,020 | ||||||
Mattel, Inc.(b) |
3,749 | 93,650 | ||||||
MercadoLibre, Inc. (Brazil)(b) |
99 | 111,538 | ||||||
Meritage Homes Corp.(b) |
1,185 | 116,817 | ||||||
Modine Manufacturing Co.(b) |
2,121 | 21,422 | ||||||
Monarch Casino & Resort, Inc.(b) |
111 | 8,647 | ||||||
Monro, Inc. |
631 | 29,455 | ||||||
Motorcar Parts of America, Inc.(b) |
622 | 10,045 | ||||||
Movado Group, Inc. |
623 | 24,559 | ||||||
National Vision Holdings, Inc.(b) |
993 | 36,413 |
Shares | Value | |||||||
Consumer Discretionary-(continued) |
| |||||||
Noodles & Co.(b) |
445 | $ | 3,044 | |||||
Nordstrom, Inc.(b)(c) |
3,140 | 65,124 | ||||||
Ollie’s Bargain Outlet Holdings, Inc.(b)(c) |
814 | 35,149 | ||||||
Overstock.com, Inc.(b) |
516 | 29,360 | ||||||
Oxford Industries, Inc. |
318 | 28,108 | ||||||
Papa John’s International, Inc. |
334 | 35,678 | ||||||
Party City Holdco, Inc.(b) |
3,683 | 15,947 | ||||||
Patrick Industries, Inc. |
584 | 41,663 | ||||||
Peloton Interactive, Inc., Class A(b)(c) |
910 | 26,445 | ||||||
Penn National Gaming, Inc.(b) |
1,406 | 72,198 | ||||||
Perdoceo Education Corp.(b) |
2,262 | 23,683 | ||||||
PetMed Express, Inc.(c) |
403 | 10,861 | ||||||
Planet Fitness, Inc., Class A(b) |
450 | 38,084 | ||||||
PlayAGS, Inc.(b) |
611 | 5,114 | ||||||
Pool Corp. |
234 | 107,308 | ||||||
Porch Group, Inc.(b)(c) |
14 | 113 | ||||||
Purple Innovation, Inc.(b)(c) |
376 | 2,264 | ||||||
Quotient Technology, Inc.(b)(c) |
1,250 | 8,300 | ||||||
RealReal, Inc. (The)(b)(c) |
45 | 401 | ||||||
Red Robin Gourmet Burgers, Inc.(b) |
436 | 7,652 | ||||||
Red Rock Resorts, Inc., Class A |
904 | 45,453 | ||||||
Regis Corp.(b)(c) |
660 | 1,195 | ||||||
Rent-A-Center, Inc.(c) |
1,231 | 34,973 | ||||||
Revolve Group, Inc.(b) |
332 | 15,747 | ||||||
RH(b) |
101 | 40,589 | ||||||
Ruth’s Hospitality Group, Inc. |
517 | 12,827 | ||||||
Sally Beauty Holdings, Inc.(b)(c) |
3,495 | 60,394 | ||||||
Scientific Games Corp.(b) |
328 | 20,638 | ||||||
SeaWorld Entertainment, Inc.(b) |
250 | 17,348 | ||||||
Shake Shack, Inc., Class A(b)(c) |
186 | 13,898 | ||||||
Shoe Carnival, Inc. |
432 | 12,597 | ||||||
Shutterstock, Inc. |
190 | 17,201 | ||||||
Skechers U.S.A., Inc., Class A(b) |
2,616 | 120,284 | ||||||
Skyline Champion Corp.(b) |
723 | 48,615 | ||||||
Sleep Number Corp.(b)(c) |
591 | 38,829 | ||||||
Smith & Wesson Brands, Inc. |
1,418 | 24,999 | ||||||
Sonic Automotive, Inc., Class A |
2,400 | 128,904 | ||||||
Sonos, Inc.(b)(c) |
1,160 | 31,772 | ||||||
Standard Motor Products, Inc. |
626 | 27,362 | ||||||
Steven Madden Ltd. |
1,262 | 53,837 | ||||||
Stitch Fix, Inc., Class A(b) |
663 | 8,321 | ||||||
Stoneridge, Inc.(b) |
491 | 8,106 | ||||||
Strategic Education, Inc.(c) |
819 | 48,337 | ||||||
Stride, Inc.(b) |
1,102 | 37,005 | ||||||
Sturm Ruger & Co., Inc. |
393 | 28,457 | ||||||
Tempur Sealy International, Inc. |
3,657 | 120,718 | ||||||
Terminix Global Holdings, Inc.(b) |
1,825 | 77,672 | ||||||
Texas Roadhouse, Inc. |
800 | 75,928 | ||||||
TopBuild Corp.(b) |
476 | 102,188 | ||||||
Travel + Leisure Co. |
1,488 | 83,402 | ||||||
Tupperware Brands Corp.(b)(c) |
1,039 | 18,941 | ||||||
Under Armour, Inc., Class A(b)(c) |
4,628 | 82,795 | ||||||
Unifi, Inc.(b) |
515 | 9,667 | ||||||
Universal Electronics, Inc.(b) |
377 | 12,528 | ||||||
Urban Outfitters, Inc.(b) |
1,677 | 46,134 | ||||||
Vail Resorts, Inc. |
359 | 93,537 | ||||||
Veoneer, Inc. (Sweden)(b) |
1,157 | 41,016 | ||||||
Vera Bradley, Inc.(b) |
933 | 7,053 | ||||||
Vista Outdoor, Inc.(b) |
1,261 | 45,963 | ||||||
Visteon Corp.(b) |
447 | 53,716 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
30 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Consumer Discretionary-(continued) |
||||||||
Wendy’s Co. (The) |
3,175 | $ | 72,199 | |||||
Wingstop, Inc. |
101 | 14,680 | ||||||
Winmark Corp. |
52 | 11,763 | ||||||
Winnebago Industries, Inc. |
832 | 53,306 | ||||||
Wolverine World Wide, Inc. |
2,065 | 47,557 | ||||||
WW International, Inc.(b)(c) |
405 | 4,127 | ||||||
Wyndham Hotels & Resorts, Inc. |
1,010 | 87,274 | ||||||
Wynn Resorts Ltd.(b) |
449 | 38,847 | ||||||
XL Fleet Corp.(b) |
11 | 21 | ||||||
XPEL, Inc.(b)(c)(e) |
25 | 1,815 | ||||||
YETI Holdings, Inc.(b)(c) |
358 | 22,038 | ||||||
Zumiez, Inc.(b)(c) |
636 | 28,296 | ||||||
|
|
|||||||
7,879,936 | ||||||||
|
|
|||||||
Consumer Staples-4.66% |
||||||||
Alico, Inc. |
109 | 3,568 | ||||||
Andersons, Inc. (The) |
3,813 | 173,873 | ||||||
B&G Foods, Inc.(c) |
2,382 | 70,507 | ||||||
Beyond Meat, Inc.(b)(c) |
62 | 2,900 | ||||||
Boston Beer Co., Inc. (The), Class A(b)(c) |
45 | 17,256 | ||||||
Calavo Growers, Inc. |
300 | 12,807 | ||||||
Cal-Maine Foods, Inc. |
1,039 | 45,997 | ||||||
Celsius Holdings, Inc.(b)(c) |
17 | 1,086 | ||||||
Central Garden & Pet Co., Class A(b) |
1,382 | 60,863 | ||||||
Chefs’ Warehouse, Inc. (The)(b) |
669 | 21,977 | ||||||
Coca-Cola Consolidated, Inc. |
182 | 90,441 | ||||||
Coty, Inc., Class A(b) |
6,254 | 57,349 | ||||||
Darling Ingredients, Inc.(b) |
1,979 | 143,438 | ||||||
Edgewell Personal Care Co. |
1,376 | 49,096 | ||||||
elf Beauty, Inc.(b) |
337 | 8,907 | ||||||
Energizer Holdings, Inc. |
1,709 | 57,063 | ||||||
Farmer Brothers Co.(b) |
624 | 3,819 | ||||||
Flowers Foods, Inc. |
4,922 | 134,912 | ||||||
Fresh Del Monte Produce, Inc. |
2,215 | 57,324 | ||||||
Freshpet, Inc.(b)(c) |
61 | 5,809 | ||||||
Grocery Outlet Holding Corp.(b)(c) |
1,620 | 45,052 | ||||||
Hain Celestial Group, Inc. (The)(b)(c) |
1,836 | 66,757 | ||||||
Hostess Brands, Inc.(b) |
3,113 | 67,054 | ||||||
Ingles Markets, Inc., Class A |
1,506 | 123,823 | ||||||
Inter Parfums, Inc. |
180 | 16,718 | ||||||
J&J Snack Foods Corp. |
183 | 29,961 | ||||||
John B. Sanfilippo & Son, Inc. |
298 | 23,697 | ||||||
Lamb Weston Holdings, Inc. |
1,359 | 90,278 | ||||||
Lancaster Colony Corp. |
264 | 44,407 | ||||||
Medifast, Inc. |
100 | 18,600 | ||||||
MGP Ingredients, Inc.(c) |
114 | 9,076 | ||||||
National Beverage Corp.(c) |
241 | 10,606 | ||||||
Natural Grocers by Vitamin Cottage, Inc. |
735 | 12,473 | ||||||
Nu Skin Enterprises, Inc., Class A |
1,524 | 70,698 | ||||||
Pilgrim’s Pride Corp.(b) |
1,813 | 42,751 | ||||||
PriceSmart, Inc. |
742 | 53,958 | ||||||
Primo Water Corp. |
3,870 | 56,270 | ||||||
Sanderson Farms, Inc. |
500 | 89,295 | ||||||
Seaboard Corp. |
10 | 38,595 | ||||||
Seneca Foods Corp., Class A(b) |
718 | 35,720 | ||||||
Simply Good Foods Co. (The)(b) |
893 | 35,390 | ||||||
Sprouts Farmers Market, Inc.(b)(c) |
4,632 | 131,919 | ||||||
SunOpta, Inc. (Canada)(b) |
1,405 | 7,489 | ||||||
Tattooed Chef, Inc.(b)(c) |
34 | 413 | ||||||
Tootsie Roll Industries, Inc.(c) |
633 | 21,364 |
Shares | Value | |||||||
Consumer Staples-(continued) |
||||||||
TreeHouse Foods, Inc.(b) |
2,156 | $ | 84,623 | |||||
Turning Point Brands, Inc. |
224 | 7,508 | ||||||
Universal Corp. |
1,099 | 59,467 | ||||||
USANA Health Sciences, Inc.(b) |
273 | 24,027 | ||||||
Utz Brands, Inc.(c) |
163 | 2,486 | ||||||
Vector Group Ltd. |
2,755 | 30,884 | ||||||
WD-40 Co.(c) |
90 | 19,070 | ||||||
Weis Markets, Inc. |
991 | 61,115 | ||||||
|
|
|||||||
2,450,536 | ||||||||
|
|
|||||||
Energy-7.10% |
||||||||
Arch Resources, Inc.(c) |
961 | 114,714 | ||||||
Archrock, Inc. |
6,509 | 54,350 | ||||||
Berry Corp. |
6,760 | 67,600 | ||||||
Bristow Group, Inc.(b) |
271 | 8,981 | ||||||
Cactus, Inc., Class A |
729 | 36,931 | ||||||
Callon Petroleum Co.(b)(c) |
2,174 | 122,527 | ||||||
Centennial Resource Development, Inc., Class A(b)(c) |
11,061 | 97,115 | ||||||
ChampionX Corp.(b) |
1,560 | 33,400 | ||||||
Civitas Resources, Inc.(c) |
751 | 37,903 | ||||||
Clean Energy Fuels Corp.(b)(c) |
1,670 | 12,141 | ||||||
Comstock Resources, Inc.(b)(c) |
6,479 | 53,776 | ||||||
CONSOL Energy, Inc.(b) |
2,349 | 72,208 | ||||||
Continental Resources, Inc. |
1,829 | 101,381 | ||||||
Core Laboratories N.V. |
515 | 14,193 | ||||||
CVR Energy, Inc.(c) |
5,171 | 89,924 | ||||||
Delek US Holdings, Inc.(b) |
6,227 | 107,291 | ||||||
DHT Holdings, Inc. |
10,082 | 63,416 | ||||||
DMC Global, Inc.(b)(c) |
189 | 5,557 | ||||||
Dorian LPG Ltd. |
2,150 | 29,627 | ||||||
Dril-Quip, Inc.(b) |
839 | 24,197 | ||||||
Expro Group Holdings N.V.(b)(c) |
735 | 11,826 | ||||||
Exterran Corp.(b) |
3,659 | 21,661 | ||||||
Golar LNG Ltd. (Cameroon)(b) |
3,418 | 59,473 | ||||||
Green Plains, Inc.(b)(c) |
1,635 | 53,530 | ||||||
Helix Energy Solutions Group, Inc.(b) |
9,013 | 36,503 | ||||||
International Seaways, Inc. |
1,821 | 33,306 | ||||||
Kosmos Energy Ltd. (Ghana)(b) |
16,080 | 78,149 | ||||||
Laredo Petroleum, Inc.(b)(c) |
852 | 65,229 | ||||||
Liberty Oilfield Services, Inc., Class A(b)(c) |
1,358 | 16,948 | ||||||
Magnolia Oil & Gas Corp., Class A(c) |
4,214 | 94,183 | ||||||
Matador Resources Co. |
2,502 | 124,099 | ||||||
Nabors Industries Ltd.(b) |
911 | 114,367 | ||||||
Navigator Holdings Ltd.(b) |
1,245 | 12,948 | ||||||
Newpark Resources, Inc.(b) |
6,310 | 23,789 | ||||||
NexTier Oilfield Solutions, Inc.(b) |
6,807 | 54,184 | ||||||
Nordic American Tankers Ltd. |
7,463 | 18,060 | ||||||
Oceaneering International, Inc.(b) |
3,030 | 44,359 | ||||||
Oil States International, Inc.(b) |
5,199 | 27,191 | ||||||
Par Pacific Holdings, Inc.(b) |
3,836 | 52,170 | ||||||
Patterson-UTI Energy, Inc. |
11,965 | 172,655 | ||||||
PDC Energy, Inc. |
3,230 | 208,400 | ||||||
Peabody Energy Corp.(b) |
16,645 | 288,624 | ||||||
ProPetro Holding Corp.(b) |
3,567 | 45,551 | ||||||
Range Resources Corp.(b) |
6,838 | 156,932 | ||||||
Renewable Energy Group, Inc.(b) |
1,312 | 80,688 | ||||||
REX American Resources Corp.(b) |
159 | 15,019 | ||||||
RPC, Inc.(b)(c) |
5,407 | 47,419 | ||||||
Scorpio Tankers, Inc. (Monaco) |
2,689 | 46,762 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
31 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Energy-(continued) |
||||||||
Select Energy Services, Inc., Class A(b) |
5,253 | $ | 43,495 | |||||
SFL Corp. Ltd. (Norway) |
4,380 | 43,581 | ||||||
SM Energy Co. |
6,228 | 221,156 | ||||||
Southwestern Energy Co.(b)(c) |
18,123 | 90,434 | ||||||
Talos Energy, Inc.(b) |
1,278 | 20,077 | ||||||
Teekay Corp. (Bermuda)(b) |
17,081 | 57,563 | ||||||
Texas Pacific Land Corp. |
32 | 38,039 | ||||||
Tidewater, Inc.(b) |
1,459 | 21,608 | ||||||
US Silica Holdings, Inc.(b) |
2,342 | 33,865 | ||||||
W&T Offshore, Inc.(b) |
2,124 | 10,323 | ||||||
|
|
|||||||
3,731,398 | ||||||||
|
|
|||||||
Financials-6.83% |
||||||||
AMERISAFE, Inc. |
450 | 21,195 | ||||||
Ares Management Corp., Class A |
411 | 33,328 | ||||||
Argo Group International Holdings Ltd. |
1,191 | 50,224 | ||||||
Artisan Partners Asset Management, Inc., |
1,426 | 54,345 | ||||||
AssetMark Financial Holdings, Inc.(b) |
239 | 5,614 | ||||||
B. Riley Financial, Inc. |
279 | 16,614 | ||||||
BGC Partners, Inc., Class A |
12,750 | 58,395 | ||||||
Blucora, Inc.(b) |
1,268 | 25,233 | ||||||
Brightsphere Investment Group, Inc. |
1,324 | 31,604 | ||||||
BRP Group, Inc., Class A(b) |
277 | 7,692 | ||||||
Cannae Holdings, Inc.(b) |
392 | 10,525 | ||||||
Carlyle Group, Inc. (The) |
1,371 | 64,259 | ||||||
Citizens, Inc.(b)(c) |
1,865 | 7,926 | ||||||
Cohen & Steers, Inc. |
297 | 24,134 | ||||||
Compass Diversified Holdings |
1,950 | 46,332 | ||||||
Cowen, Inc., Class A |
1,442 | 42,755 | ||||||
Crawford & Co., Class A |
1,310 | 10,100 | ||||||
Credit Acceptance Corp.(b)(c) |
286 | 157,334 | ||||||
Diamond Hill Investment Group, Inc. |
100 | 19,388 | ||||||
Donegal Group, Inc., Class A |
861 | 11,761 | ||||||
Donnelley Financial Solutions, Inc.(b) |
794 | 25,487 | ||||||
eHealth, Inc.(b)(c) |
236 | 3,667 | ||||||
Employers Holdings, Inc. |
1,153 | 44,806 | ||||||
Encore Capital Group, Inc.(b)(c) |
1,243 | 82,026 | ||||||
Enova International, Inc.(b) |
2,181 | 88,919 | ||||||
Erie Indemnity Co., Class A |
375 | 65,663 | ||||||
Essent Group Ltd. |
2,622 | 115,840 | ||||||
Evercore, Inc., Class A |
803 | 101,989 | ||||||
EZCORP, Inc., Class A(b) |
3,510 | 21,025 | ||||||
FactSet Research Systems, Inc. |
338 | 137,258 | ||||||
Federated Hermes, Inc., Class B |
2,673 | 87,327 | ||||||
FirstCash Holdings, Inc. |
1,002 | 72,184 | ||||||
Focus Financial Partners, Inc., Class A(b) |
646 | 32,326 | ||||||
Goosehead Insurance, Inc., Class A(c) |
80 | 6,958 | ||||||
Green Dot Corp., Class A(b) |
1,140 | 32,661 | ||||||
Greenhill & Co., Inc. |
668 | 11,810 | ||||||
Hamilton Lane, Inc., Class A |
228 | 17,807 | ||||||
Heritage Insurance Holdings, Inc. |
2,870 | 16,015 | ||||||
Hilltop Holdings, Inc. |
1,719 | 53,151 | ||||||
Houlihan Lokey, Inc. |
1,025 | 105,432 | ||||||
James River Group Holdings Ltd. |
2,089 | 55,567 | ||||||
Kinsale Capital Group, Inc. |
181 | 37,967 | ||||||
LendingClub Corp.(b) |
1,962 | 36,454 | ||||||
LendingTree, Inc.(b) |
112 | 13,553 | ||||||
MarketAxess Holdings, Inc. |
144 | 54,926 | ||||||
Mercury General Corp. |
1,002 | 55,110 |
Shares | Value | |||||||
Financials-(continued) |
||||||||
Moelis & Co., Class A |
1,475 | $ | 71,110 | |||||
Morningstar, Inc. |
174 | 48,833 | ||||||
NMI Holdings, Inc., Class A(b) |
1,806 | 41,791 | ||||||
Open Lending Corp., Class A(b) |
32 | 667 | ||||||
Oppenheimer Holdings, Inc., Class A |
415 | 17,924 | ||||||
Palomar Holdings, Inc.(b) |
137 | 8,827 | ||||||
PennyMac Mortgage Investment Trust |
5,318 | 82,961 | ||||||
Piper Sandler Cos |
512 | 75,781 | ||||||
PJT Partners, Inc., Class A |
605 | 38,611 | ||||||
PRA Group, Inc.(b) |
1,141 | 50,923 | ||||||
ProAssurance Corp. |
1,949 | 46,971 | ||||||
PROG Holdings, Inc.(b) |
1,826 | 55,949 | ||||||
RLI Corp. |
546 | 55,419 | ||||||
Safety Insurance Group, Inc. |
489 | 40,802 | ||||||
SEI Investments Co. |
2,142 | 125,478 | ||||||
Selective Insurance Group, Inc. |
1,530 | 127,281 | ||||||
SiriusPoint Ltd. (Bermuda)(b) |
1,954 | 14,440 | ||||||
State Auto Financial Corp. |
754 | 39,216 | ||||||
Stewart Information Services Corp. |
984 | 66,794 | ||||||
Tradeweb Markets, Inc., Class A |
1,548 | 130,775 | ||||||
Trupanion, Inc.(b)(c) |
104 | 9,322 | ||||||
United Fire Group, Inc. |
1,099 | 30,343 | ||||||
United Insurance Holdings Corp. |
1,919 | 7,024 | ||||||
Universal Insurance Holdings, Inc. |
2,491 | 28,796 | ||||||
Virtu Financial, Inc., Class A |
4,016 | 140,881 | ||||||
Virtus Investment Partners, Inc. |
56 | 13,475 | ||||||
Walker & Dunlop, Inc. |
20 | 2,767 | ||||||
Waterstone Financial, Inc. |
660 | 12,896 | ||||||
Westwood Holdings Group, Inc. |
336 | 5,561 | ||||||
White Mountains Insurance Group Ltd. |
55 | 57,761 | ||||||
WisdomTree Investments, Inc. |
1,876 | 10,562 | ||||||
World Acceptance Corp.(b)(c) |
265 | 52,065 | ||||||
|
|
|||||||
3,586,692 | ||||||||
|
|
|||||||
Health Care-9.60% |
||||||||
10X Genomics, Inc., Class A(b) |
25 | 2,037 | ||||||
ABIOMED, Inc.(b) |
210 | 65,255 | ||||||
Acadia Healthcare Co., Inc.(b) |
1,677 | 95,103 | ||||||
Acadia Pharmaceuticals, Inc.(b) |
301 | 7,648 | ||||||
Accuray, Inc.(b) |
1,381 | 4,792 | ||||||
AdaptHealth Corp.(b)(c) |
567 | 9,883 | ||||||
Addus HomeCare Corp.(b) |
229 | 19,474 | ||||||
Akebia Therapeutics, Inc.(b) |
98 | 212 | ||||||
Alkermes PLC(b) |
1,620 | 40,273 | ||||||
Allscripts Healthcare Solutions, Inc.(b) |
3,716 | 72,313 | ||||||
Amedisys, Inc.(b) |
235 | 37,656 | ||||||
AMN Healthcare Services, Inc.(b) |
672 | 71,326 | ||||||
Amneal Pharmaceuticals, Inc.(b) |
5,382 | 24,380 | ||||||
Amphastar Pharmaceuticals, Inc.(b) |
680 | 18,843 | ||||||
AnaptysBio, Inc.(b)(c) |
151 | 4,616 | ||||||
AngioDynamics, Inc.(b) |
505 | 11,883 | ||||||
ANI Pharmaceuticals, Inc.(b) |
179 | 6,704 | ||||||
Anika Therapeutics, Inc.(b) |
194 | 6,305 | ||||||
Antares Pharma, Inc.(b) |
957 | 3,350 | ||||||
Apollo Medical Holdings, Inc.(b) |
473 | 22,761 | ||||||
Arcus Biosciences, Inc.(b)(c) |
207 | 7,700 | ||||||
Arrowhead Pharmaceuticals, Inc.(b) |
95 | 4,180 | ||||||
Artivion, Inc.(b) |
281 | 5,494 | ||||||
AtriCure, Inc.(b) |
116 | 8,056 | ||||||
Atrion Corp. |
18 | 12,878 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
32 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Health Care-(continued) |
||||||||
Avanos Medical, Inc.(b) |
727 | $ | 25,729 | |||||
Avid Bioservices, Inc.(b) |
149 | 3,052 | ||||||
AxoGen, Inc.(b) |
112 | 1,046 | ||||||
BioLife Solutions, Inc.(b)(c) |
71 | 1,669 | ||||||
BioMarin Pharmaceutical, Inc.(b) |
1,333 | 104,134 | ||||||
BioNTech SE, ADR (Germany)(b)(c) |
62 | 9,350 | ||||||
Bio-Techne Corp. |
156 | 65,428 | ||||||
Blueprint Medicines Corp.(b) |
277 | 16,772 | ||||||
Brookdale Senior Living, Inc.(b) |
10,948 | 75,322 | ||||||
Bruker Corp. |
762 | 53,622 | ||||||
Cardiovascular Systems, Inc.(b) |
166 | 3,496 | ||||||
CareDx, Inc.(b) |
96 | 3,684 | ||||||
Castle Biosciences, Inc.(b) |
63 | 2,727 | ||||||
Catalent, Inc.(b) |
1,214 | 123,877 | ||||||
Change Healthcare, Inc.(b) |
2,813 | 60,254 | ||||||
Charles River Laboratories International, Inc.(b) |
328 | 95,501 | ||||||
Chemed Corp. |
194 | 92,788 | ||||||
Codexis, Inc.(b) |
90 | 1,794 | ||||||
Coherus Biosciences, Inc.(b)(c) |
1,218 | 14,360 | ||||||
Collegium Pharmaceutical, Inc.(b) |
458 | 8,917 | ||||||
Computer Programs & Systems, Inc.(b) |
304 | 9,357 | ||||||
CONMED Corp. |
225 | 32,886 | ||||||
Corcept Therapeutics, Inc.(b) |
1,039 | 23,159 | ||||||
CorVel Corp.(b) |
101 | 16,065 | ||||||
Covetrus, Inc.(b) |
2,290 | 40,579 | ||||||
Cross Country Healthcare, Inc.(b) |
804 | 17,953 | ||||||
CryoPort, Inc.(b)(c) |
49 | 1,682 | ||||||
CytomX Therapeutics, Inc.(b) |
33 | 126 | ||||||
Denali Therapeutics, Inc.(b) |
208 | 6,773 | ||||||
DexCom, Inc.(b) |
208 | 86,093 | ||||||
Eagle Pharmaceuticals, Inc.(b)(c) |
247 | 11,705 | ||||||
Emergent BioSolutions, Inc.(b) |
987 | 40,842 | ||||||
Enanta Pharmaceuticals, Inc.(b) |
179 | 12,605 | ||||||
Endo International PLC(b) |
8,428 | 26,211 | ||||||
Ensign Group, Inc. (The) |
743 | 62,442 | ||||||
Envista Holdings Corp.(b) |
2,458 | 117,984 | ||||||
Evolent Health, Inc., Class A(b) |
1,177 | 31,367 | ||||||
Exact Sciences Corp.(b)(c) |
518 | 40,435 | ||||||
Exelixis, Inc.(b) |
2,735 | 56,150 | ||||||
FibroGen, Inc.(b)(c) |
558 | 7,851 | ||||||
Fluidigm Corp.(b)(c) |
496 | 1,825 | ||||||
Fulgent Genetics, Inc.(b) |
122 | 7,601 | ||||||
Glaukos Corp.(b) |
156 | 8,628 | ||||||
Global Cord Blood Corp. (Hong Kong)(b) |
850 | 3,451 | ||||||
Globus Medical, Inc., Class A(b) |
811 | 57,030 | ||||||
Guardant Health, Inc.(b)(c) |
123 | 8,151 | ||||||
Haemonetics Corp.(b) |
731 | 42,186 | ||||||
Halozyme Therapeutics, Inc.(b) |
477 | 16,919 | ||||||
Hanger, Inc.(b) |
814 | 14,750 | ||||||
Health Catalyst, Inc.(b)(c) |
72 | 1,953 | ||||||
HealthEquity, Inc.(b) |
451 | 24,223 | ||||||
HealthStream, Inc.(b) |
411 | 8,421 | ||||||
Heska Corp.(b)(c) |
25 | 3,550 | ||||||
Horizon Therapeutics PLC(b) |
1,148 | 104,663 | ||||||
ICU Medical, Inc.(b) |
257 | 60,840 | ||||||
IDEXX Laboratories, Inc.(b) |
226 | 120,311 | ||||||
Incyte Corp.(b) |
906 | 61,880 | ||||||
Inmode Ltd.(b) |
179 | 7,642 | ||||||
Innoviva, Inc.(b) |
1,588 | 30,506 | ||||||
Inogen, Inc.(b) |
170 | 5,931 |
Shares | Value | |||||||
Health Care-(continued) |
||||||||
Inspire Medical Systems, Inc.(b) |
5 | $ | 1,220 | |||||
Insulet Corp.(b) |
105 | 27,792 | ||||||
Integer Holdings Corp.(b) |
496 | 41,600 | ||||||
Integra LifeSciences Holdings Corp.(b) |
838 | 56,196 | ||||||
Intersect ENT, Inc.(b) |
16 | 435 | ||||||
Invacare Corp.(b)(c) |
1,986 | 4,071 | ||||||
Ionis Pharmaceuticals, Inc.(b)(c) |
1,527 | 50,971 | ||||||
iRhythm Technologies, Inc.(b) |
78 | 10,083 | ||||||
Ironwood Pharmaceuticals, Inc.(b) |
1,098 | 11,815 | ||||||
Joint Corp. (The)(b)(c) |
22 | 902 | ||||||
Jounce Therapeutics, Inc.(b) |
58 | 433 | ||||||
Lannett Co., Inc.(b) |
2,656 | 2,204 | ||||||
Lantheus Holdings, Inc.(b) |
569 | 27,210 | ||||||
LeMaitre Vascular, Inc.(c) |
122 | 5,791 | ||||||
LHC Group, Inc.(b) |
396 | 53,923 | ||||||
Ligand Pharmaceuticals, Inc.(b)(c) |
347 | 35,123 | ||||||
LivaNova PLC(b) |
346 | 27,272 | ||||||
Masimo Corp.(b) |
267 | 42,039 | ||||||
MEDNAX, Inc.(b) |
1,901 | 44,616 | ||||||
Medpace Holdings, Inc.(b) |
233 | 35,642 | ||||||
Meridian Bioscience, Inc.(b) |
531 | 13,434 | ||||||
Merit Medical Systems, Inc.(b) |
583 | 37,913 | ||||||
Mesa Laboratories, Inc. |
40 | 10,213 | ||||||
MiMedx Group, Inc.(b) |
101 | 510 | ||||||
Moderna, Inc.(b) |
757 | 116,275 | ||||||
ModivCare, Inc.(b) |
335 | 39,530 | ||||||
Myriad Genetics, Inc.(b) |
1,030 | 25,111 | ||||||
Natera, Inc.(b) |
3 | 197 | ||||||
National HealthCare Corp. |
493 | 32,055 | ||||||
National Research Corp. |
116 | 4,614 | ||||||
Natus Medical, Inc.(b) |
610 | 16,970 | ||||||
Neogen Corp.(b) |
511 | 18,243 | ||||||
NeoGenomics, Inc.(b) |
436 | 9,335 | ||||||
Neurocrine Biosciences, Inc.(b) |
456 | 40,981 | ||||||
Nevro Corp.(b)(c) |
59 | 4,230 | ||||||
NextGen Healthcare, Inc.(b) |
900 | 17,577 | ||||||
NGM Biopharmaceuticals, Inc.(b)(c) |
17 | 253 | ||||||
Novavax, Inc.(b)(c) |
132 | 11,005 | ||||||
Novocure Ltd.(b)(c) |
67 | 5,485 | ||||||
NuVasive, Inc.(b) |
718 | 38,858 | ||||||
Omnicell, Inc.(b) |
318 | 41,111 | ||||||
OPKO Health, Inc.(b) |
6,606 | 20,677 | ||||||
OptimizeRx Corp.(b)(c) |
14 | 634 | ||||||
Option Care Health, Inc.(b) |
1,552 | 39,886 | ||||||
OraSure Technologies, Inc.(b)(c) |
867 | 6,763 | ||||||
Organogenesis Holdings, Inc.(b)(c) |
43 | 320 | ||||||
Orthofix Medical, Inc.(b) |
360 | 12,233 | ||||||
OrthoPediatrics Corp.(b)(c) |
28 | 1,569 | ||||||
Owens & Minor, Inc. |
3,893 | 171,876 | ||||||
Pacific Biosciences of California, Inc.(b) |
104 | 1,240 | ||||||
Pacira BioSciences, Inc.(b) |
249 | 16,606 | ||||||
Patterson Cos., Inc. |
1,922 | 57,468 | ||||||
Pennant Group, Inc. (The)(b) |
212 | 3,445 | ||||||
Penumbra, Inc.(b)(c) |
61 | 13,526 | ||||||
Personalis, Inc.(b) |
26 | 273 | ||||||
PetIQ, Inc.(b)(c) |
350 | 6,944 | ||||||
Phibro Animal Health Corp., Class A |
682 | 14,527 | ||||||
Phreesia, Inc.(b) |
105 | 3,233 | ||||||
Premier, Inc., Class A |
1,801 | 64,728 | ||||||
Prestige Consumer Healthcare, Inc.(b) |
1,038 | 61,792 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
33 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Health Care-(continued) |
||||||||
Progyny, Inc.(b)(c) |
70 | $ | 2,755 | |||||
PTC Therapeutics, Inc.(b)(c) |
40 | 1,405 | ||||||
Quanterix Corp.(b) |
25 | 844 | ||||||
Quidel Corp.(b) |
501 | 53,001 | ||||||
R1 RCM, Inc.(b)(c) |
530 | 14,411 | ||||||
RadNet, Inc.(b) |
1,028 | 25,361 | ||||||
REGENXBIO, Inc.(b)(c) |
63 | 1,651 | ||||||
Repligen Corp.(b) |
150 | 29,505 | ||||||
Sangamo Therapeutics, Inc.(b)(c) |
1,157 | 6,768 | ||||||
Sarepta Therapeutics, Inc.(b) |
299 | 22,906 | ||||||
Seagen, Inc.(b) |
526 | 67,786 | ||||||
Select Medical Holdings Corp. |
3,092 | 71,580 | ||||||
Shockwave Medical, Inc.(b) |
1 | 177 | ||||||
SI-BONE, Inc.(b) |
12 | 265 | ||||||
Simulations Plus, Inc. |
40 | 1,576 | ||||||
SmileDirectClub, Inc.(b)(c) |
5,016 | 10,985 | ||||||
STAAR Surgical Co.(b) |
42 | 3,331 | ||||||
Supernus Pharmaceuticals, Inc.(b) |
851 | 27,189 | ||||||
Surgalign Holdings, Inc.(b) |
2,413 | 789 | ||||||
Surgery Partners, Inc.(b) |
433 | 22,633 | ||||||
SurModics, Inc.(b) |
92 | 4,129 | ||||||
Syneos Health, Inc.(b) |
1,386 | 109,771 | ||||||
Tabula Rasa HealthCare, Inc.(b)(c) |
163 | 929 | ||||||
Tactile Systems Technology, Inc.(b) |
74 | 1,507 | ||||||
Tandem Diabetes Care, Inc.(b) |
136 | 15,318 | ||||||
Taro Pharmaceutical Industries Ltd.(b) |
170 | 8,305 | ||||||
Teladoc Health, Inc.(b) |
460 | 34,919 | ||||||
Teleflex, Inc. |
291 | 97,866 | ||||||
Tivity Health, Inc.(b) |
746 | 20,351 | ||||||
Travere Therapeutics, Inc.(b)(c) |
204 | 5,561 | ||||||
Ultragenyx Pharmaceutical, Inc.(b) |
16 | 1,077 | ||||||
United Therapeutics Corp.(b) |
619 | 102,878 | ||||||
US Physical Therapy, Inc. |
135 | 12,416 | ||||||
Vanda Pharmaceuticals, Inc.(b) |
692 | 7,861 | ||||||
Varex Imaging Corp.(b)(c) |
730 | 17,257 | ||||||
Veeva Systems, Inc., Class A(b) |
333 | 76,274 | ||||||
Veracyte, Inc.(b)(c) |
167 | 4,643 | ||||||
Vericel Corp.(b)(c) |
77 | 3,173 | ||||||
West Pharmaceutical Services, Inc. |
322 | 124,640 | ||||||
Xencor, Inc.(b) |
269 | 8,422 | ||||||
Zynex, Inc.(c) |
65 | 409 | ||||||
|
|
|||||||
5,042,972 | ||||||||
|
|
|||||||
Industrials-23.01% |
||||||||
AAON, Inc. |
309 | 18,095 | ||||||
AAR Corp.(b) |
1,019 | 45,794 | ||||||
ABM Industries, Inc. |
2,614 | 117,186 | ||||||
ACCO Brands Corp. |
5,411 | 46,535 | ||||||
Advanced Drainage Systems, Inc. |
469 | 54,742 | ||||||
Aerojet Rocketdyne Holdings, Inc. |
1,489 | 57,699 | ||||||
AeroVironment, Inc.(b) |
149 | 10,586 | ||||||
Air Transport Services Group, Inc.(b) |
2,395 | 75,466 | ||||||
Alamo Group, Inc. |
223 | 31,022 | ||||||
Alaska Air Group, Inc.(b) |
669 | 37,558 | ||||||
Albany International Corp., Class A |
453 | 39,782 | ||||||
Allegiant Travel Co.(b) |
68 | 11,838 | ||||||
Allegion PLC |
919 | 105,244 | ||||||
Allison Transmission Holdings, Inc. |
3,029 | 120,978 | ||||||
Altra Industrial Motion Corp. |
1,159 | 49,223 | ||||||
AMERCO |
183 | 105,703 |
Shares | Value | |||||||
Industrials-(continued) |
||||||||
Ameresco, Inc., Class A(b)(c) |
165 | $ | 10,601 | |||||
American Airlines Group, Inc.(b)(c) |
1,535 | 26,479 | ||||||
American Woodmark Corp.(b) |
453 | 24,272 | ||||||
API Group Corp.(b) |
3,801 | 81,988 | ||||||
Apogee Enterprises, Inc. |
1,019 | 45,926 | ||||||
Applied Industrial Technologies, Inc. |
834 | 84,317 | ||||||
ArcBest Corp. |
780 | 72,290 | ||||||
Arcosa, Inc. |
1,218 | 64,152 | ||||||
Argan, Inc. |
466 | 18,123 | ||||||
Armstrong World Industries, Inc. |
478 | 42,255 | ||||||
ASGN, Inc.(b) |
1,025 | 113,560 | ||||||
Astec Industries, Inc. |
496 | 24,701 | ||||||
Astronics Corp.(b) |
1,192 | 17,534 | ||||||
Atkore, Inc.(b) |
635 | 64,586 | ||||||
Atlas Air Worldwide Holdings, Inc.(b)(c) |
1,690 | 132,428 | ||||||
Axon Enterprise, Inc.(b) |
212 | 29,733 | ||||||
AZZ, Inc. |
678 | 33,378 | ||||||
Barnes Group, Inc. |
1,089 | 50,584 | ||||||
Barrett Business Services, Inc. |
177 | 10,647 | ||||||
Beacon Roofing Supply, Inc.(b) |
2,007 | 119,798 | ||||||
Bloom Energy Corp., Class A(b)(c) |
165 | 3,663 | ||||||
Boise Cascade Co. |
1,596 | 127,584 | ||||||
Brady Corp., Class A |
948 | 43,684 | ||||||
BrightView Holdings, Inc.(b) |
1,778 | 24,021 | ||||||
Brink’s Co. (The) |
980 | 68,659 | ||||||
BWX Technologies, Inc. |
1,072 | 57,266 | ||||||
Casella Waste Systems, Inc., Class A(b) |
305 | 22,997 | ||||||
CBIZ, Inc.(b) |
1,103 | 42,918 | ||||||
Chart Industries, Inc.(b)(c) |
345 | 49,818 | ||||||
Cimpress PLC (Ireland)(b)(c) |
908 | 57,195 | ||||||
CIRCOR International, Inc.(b) |
362 | 9,752 | ||||||
Clarivate PLC(b)(c) |
1,594 | 23,878 | ||||||
Clean Harbors, Inc.(b) |
975 | 93,044 | ||||||
Colfax Corp.(b) |
2,231 | 89,709 | ||||||
Columbus McKinnon Corp. |
461 | 21,040 | ||||||
Comfort Systems USA, Inc. |
814 | 69,988 | ||||||
Construction Partners, Inc.(b) |
664 | 17,769 | ||||||
Copart, Inc.(b) |
987 | 121,283 | ||||||
CoreCivic, Inc.(b) |
9,853 | 89,761 | ||||||
Cornerstone Building Brands, Inc.(b) |
2,149 | 47,450 | ||||||
Costamare, Inc. (Monaco) |
2,370 | 31,995 | ||||||
CoStar Group, Inc.(b) |
1,580 | 96,396 | ||||||
CRA International, Inc. |
181 | 16,078 | ||||||
Crane Co. |
1,131 | 114,321 | ||||||
CSW Industrials, Inc. |
157 | 18,892 | ||||||
Curtiss-Wright Corp. |
847 | 124,949 | ||||||
Deluxe Corp. |
1,335 | 41,532 | ||||||
Donaldson Co., Inc. |
1,705 | 92,530 | ||||||
Douglas Dynamics, Inc. |
439 | 16,129 | ||||||
Ducommun, Inc., (Acquired 06/21/2019 - 01/26/2022; Cost $11,330)(b)(d) |
247 | 12,476 | ||||||
DXP Enterprises, Inc.(b) |
759 | 21,791 | ||||||
Dycom Industries, Inc.(b) |
959 | 83,491 | ||||||
Encore Wire Corp. |
449 | 52,273 | ||||||
Energy Recovery, Inc.(b) |
174 | 3,306 | ||||||
Enerpac Tool Group Corp. |
701 | 12,092 | ||||||
EnerSys |
929 | 67,566 | ||||||
Ennis, Inc. |
778 | 14,611 | ||||||
EnPro Industries, Inc. |
461 | 50,913 | ||||||
ESCO Technologies, Inc. |
339 | 23,584 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
34 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Industrials-(continued) |
||||||||
Evoqua Water Technologies Corp.(b) |
1,137 | $ | 48,504 | |||||
Exponent, Inc. |
351 | 33,261 | ||||||
Federal Signal Corp. |
933 | 33,691 | ||||||
Flowserve Corp. |
2,721 | 82,637 | ||||||
Forrester Research, Inc.(b) |
158 | 8,205 | ||||||
Forward Air Corp. |
446 | 46,018 | ||||||
Franklin Electric Co., Inc. |
509 | 43,041 | ||||||
FTI Consulting, Inc.(b) |
774 | 113,004 | ||||||
FuelCell Energy, Inc.(b)(c) |
3 | 18 | ||||||
Gates Industrial Corp. PLC(b) |
1,380 | 21,859 | ||||||
GATX Corp. |
945 | 100,765 | ||||||
Genco Shipping & Trading Ltd. |
1,382 | 26,645 | ||||||
Generac Holdings, Inc.(b) |
262 | 82,653 | ||||||
GEO Group, Inc. (The)(c) |
17,229 | 102,685 | ||||||
Gibraltar Industries, Inc.(b) |
409 | 19,763 | ||||||
Global Industrial Co. |
273 | 8,676 | ||||||
GMS, Inc.(b) |
1,422 | 77,143 | ||||||
Gorman-Rupp Co. (The) |
298 | 11,103 | ||||||
Graco, Inc. |
1,255 | 90,473 | ||||||
GrafTech International Ltd. |
3,880 | 39,110 | ||||||
Granite Construction, Inc. |
2,106 | 63,749 | ||||||
Great Lakes Dredge & Dock Corp.(b) |
1,435 | 20,248 | ||||||
Greenbrier Cos., Inc. (The)(c) |
1,535 | 68,200 | ||||||
Griffon Corp. |
1,782 | 41,075 | ||||||
H&E Equipment Services, Inc. |
1,116 | 46,604 | ||||||
Harsco Corp.(b) |
1,590 | 18,937 | ||||||
Healthcare Services Group, Inc. |
1,589 | 25,138 | ||||||
Heartland Express, Inc. |
1,349 | 19,372 | ||||||
HEICO Corp.(c) |
518 | 76,410 | ||||||
Heidrick & Struggles International, Inc. |
440 | 18,810 | ||||||
Helios Technologies, Inc. |
348 | 27,287 | ||||||
Herc Holdings, Inc. |
730 | 116,158 | ||||||
Heritage-Crystal Clean, Inc.(b) |
285 | 7,991 | ||||||
Hexcel Corp. |
1,635 | 94,666 | ||||||
Hillenbrand, Inc. |
1,710 | 81,584 | ||||||
HNI Corp. |
1,345 | 54,728 | ||||||
Hub Group, Inc., Class A(b) |
1,078 | 90,983 | ||||||
Huron Consulting Group, Inc.(b) |
624 | 30,782 | ||||||
Hyster-Yale Materials Handling, Inc.(c) |
417 | 15,963 | ||||||
IAA, Inc.(b) |
1,315 | 48,313 | ||||||
ICF International, Inc. |
479 | 42,449 | ||||||
IDEX Corp. |
609 | 116,867 | ||||||
IES Holdings, Inc.(b) |
464 | 19,507 | ||||||
Insperity, Inc. |
1,065 | 95,797 | ||||||
Insteel Industries, Inc. |
411 | 15,252 | ||||||
Interface, Inc. |
1,981 | 25,852 | ||||||
ITT, Inc. |
1,268 | 111,419 | ||||||
JELD-WEN Holding, Inc.(b) |
2,408 | 55,577 | ||||||
JetBlue Airways Corp.(b) |
2,331 | 35,594 | ||||||
John Bean Technologies Corp. |
357 | 40,473 | ||||||
Kadant, Inc. |
149 | 29,405 | ||||||
Kaman Corp. |
527 | 22,877 | ||||||
KAR Auction Services, Inc.(b)(c) |
5,661 | 104,502 | ||||||
KBR, Inc. |
3,171 | 157,408 | ||||||
Kelly Services, Inc., Class A |
3,325 | 70,556 | ||||||
Kennametal, Inc. |
1,674 | 53,083 | ||||||
Kforce, Inc. |
594 | 44,657 | ||||||
Kimball International, Inc., Class B |
1,230 | 11,402 | ||||||
Kirby Corp.(b) |
1,758 | 114,534 | ||||||
Korn Ferry |
1,124 | 74,476 |
Shares | Value | |||||||
Industrials-(continued) |
||||||||
Kratos Defense & Security Solutions, Inc.(b) |
970 | $ | 20,292 | |||||
Landstar System, Inc. |
650 | 100,366 | ||||||
Lawson Products, Inc.(b) |
135 | 5,739 | ||||||
LB Foster Co., Class A(b) |
572 | 8,992 | ||||||
Lennox International, Inc. |
346 | 92,358 | ||||||
Lincoln Electric Holdings, Inc. |
874 | 111,400 | ||||||
Lindsay Corp. |
100 | 13,121 | ||||||
Luxfer Holdings PLC (United Kingdom) |
394 | 6,863 | ||||||
Lyft, Inc., Class A(b) |
267 | 10,397 | ||||||
Manitowoc Co., Inc. (The)(b) |
1,432 | 23,671 | ||||||
ManTech International Corp., Class A |
889 | 74,116 | ||||||
Marten Transport Ltd. |
1,803 | 31,102 | ||||||
Masonite International Corp.(b) |
512 | 48,297 | ||||||
Matrix Service Co.(b) |
1,729 | 11,999 | ||||||
Matson, Inc. |
1,160 | 128,493 | ||||||
Matthews International Corp., Class A |
1,150 | 38,157 | ||||||
Maxar Technologies, Inc. |
1,650 | 53,526 | ||||||
McGrath RentCorp. |
443 | 36,007 | ||||||
Mercury Systems, Inc.(b) |
644 | 38,782 | ||||||
Meritor, Inc.(b) |
3,533 | 125,810 | ||||||
Middleby Corp. (The)(b) |
646 | 114,743 | ||||||
MillerKnoll, Inc. |
1,500 | 58,320 | ||||||
Moog, Inc., Class A |
1,246 | 103,555 | ||||||
MRC Global, Inc.(b) |
5,867 | 59,257 | ||||||
MSA Safety, Inc. |
321 | 44,651 | ||||||
Mueller Industries, Inc. |
1,261 | 71,940 | ||||||
Mueller Water Products, Inc., Class A |
2,638 | 33,476 | ||||||
MYR Group, Inc.(b) |
513 | 46,042 | ||||||
National Presto Industries, Inc. |
123 | 9,778 | ||||||
NN, Inc.(b) |
1,785 | 4,623 | ||||||
Nordson Corp. |
491 | 111,207 | ||||||
NOW, Inc.(b) |
4,961 | 46,336 | ||||||
NV5 Global, Inc.(b) |
164 | 17,589 | ||||||
nVent Electric PLC |
3,769 | 127,882 | ||||||
Omega Flex, Inc. |
26 | 3,777 | ||||||
Park Aerospace Corp. |
474 | 6,574 | ||||||
Park-Ohio Holdings Corp. |
507 | 8,056 | ||||||
Parsons Corp.(b) |
2,334 | 80,896 | ||||||
PGT Innovations, Inc.(b) |
931 | 20,026 | ||||||
Pitney Bowes, Inc. |
8,384 | 41,752 | ||||||
Powell Industries, Inc. |
381 | 8,054 | ||||||
Primoris Services Corp. |
2,332 | 61,495 | ||||||
Proto Labs, Inc.(b) |
298 | 16,757 | ||||||
Quanex Building Products Corp. |
981 | 22,426 | ||||||
RBC Bearings, Inc.(b)(c) |
209 | 40,515 | ||||||
Regal Rexnord Corp. |
907 | 145,437 | ||||||
Resideo Technologies, Inc.(b) |
3,346 | 86,126 | ||||||
Resources Connection, Inc. |
1,325 | 21,995 | ||||||
REV Group, Inc. |
1,002 | 13,547 | ||||||
Rollins, Inc. |
2,490 | 81,249 | ||||||
Saia, Inc.(b) |
261 | 74,967 | ||||||
Shyft Group, Inc. (The) |
365 | 14,750 | ||||||
Simpson Manufacturing Co., Inc. |
558 | 66,129 | ||||||
SiteOne Landscape Supply, Inc.(b) |
318 | 54,833 | ||||||
SkyWest, Inc.(b) |
632 | 17,766 | ||||||
SP Plus Corp.(b) |
844 | 25,193 | ||||||
Spirit AeroSystems Holdings, Inc., Class A |
1,385 | 69,250 | ||||||
Spirit Airlines, Inc.(b) |
521 | 13,067 | ||||||
SPX Corp.(b) |
587 | 29,761 | ||||||
SPX FLOW, Inc. |
628 | 53,939 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
35 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Industrials-(continued) |
||||||||
Standex International Corp. |
232 | $ | 24,576 | |||||
Steelcase, Inc., Class A |
5,489 | 66,801 | ||||||
Stericycle, Inc.(b) |
1,306 | 76,218 | ||||||
Sunrun, Inc.(b)(c) |
394 | 10,748 | ||||||
Team, Inc.(b) |
2,174 | 2,053 | ||||||
Tennant Co. |
343 | 27,022 | ||||||
Terex Corp. |
1,585 | 65,429 | ||||||
Tetra Tech, Inc. |
795 | 126,222 | ||||||
Textainer Group Holdings Ltd. (China) |
2,065 | 73,328 | ||||||
Thermon Group Holdings, Inc.(b) |
725 | 12,412 | ||||||
Timken Co. (The) |
1,529 | 100,241 | ||||||
Titan Machinery, Inc.(b) |
988 | 27,990 | ||||||
Toro Co. (The) |
1,019 | 95,592 | ||||||
TPI Composites, Inc.(b)(c) |
504 | 6,814 | ||||||
Trex Co., Inc.(b) |
331 | 30,399 | ||||||
TriNet Group, Inc.(b) |
945 | 82,508 | ||||||
Triumph Group, Inc.(b) |
492 | 12,320 | ||||||
TrueBlue, Inc.(b) |
1,827 | 49,694 | ||||||
Tutor Perini Corp.(b) |
4,978 | 48,784 | ||||||
UFP Industries, Inc. |
1,381 | 118,421 | ||||||
UniFirst Corp. |
350 | 63,437 | ||||||
United Airlines Holdings, Inc.(b) |
2,339 | 103,852 | ||||||
Universal Logistics Holdings, Inc. |
356 | 6,810 | ||||||
Upwork, Inc.(b) |
229 | 5,789 | ||||||
US Ecology, Inc.(b) |
787 | 37,335 | ||||||
Valmont Industries, Inc. |
368 | 79,654 | ||||||
Veritiv Corp.(b) |
2,032 | 217,769 | ||||||
Vertiv Holdings Co. |
1,545 | 20,116 | ||||||
Viad Corp.(b) |
301 | 10,517 | ||||||
Vicor Corp.(b) |
76 | 5,683 | ||||||
Wabash National Corp.(c) |
2,575 | 43,878 | ||||||
Watts Water Technologies, Inc., Class A |
437 | 62,906 | ||||||
Welbilt, Inc.(b) |
1,067 | 25,224 | ||||||
Werner Enterprises, Inc. |
1,720 | 74,751 | ||||||
WillScot Mobile Mini Holdings Corp.(b) |
1,497 | 53,188 | ||||||
Woodward, Inc. |
808 | 100,701 | ||||||
Zurn Water Solutions Corp. |
1,412 | 45,918 | ||||||
|
|
|||||||
12,091,470 | ||||||||
|
|
|||||||
Information Technology-14.59% |
||||||||
3D Systems Corp.(b)(c) |
580 | 10,336 | ||||||
8x8, Inc.(b) |
224 | 2,903 | ||||||
A10 Networks, Inc. |
859 | 12,232 | ||||||
ACI Worldwide, Inc.(b) |
1,478 | 49,543 | ||||||
ACM Research, Inc., Class A(b)(c) |
36 | 2,967 | ||||||
ADTRAN, Inc. |
708 | 14,578 | ||||||
Advanced Energy Industries, Inc. |
394 | 33,825 | ||||||
Agilysys, Inc.(b) |
91 | 3,825 | ||||||
Alarm.com Holdings, Inc.(b) |
232 | 15,273 | ||||||
Alpha & Omega Semiconductor Ltd.(b) |
439 | 23,605 | ||||||
Altair Engineering, Inc., Class A(b) |
215 | 14,280 | ||||||
Alteryx, Inc., Class A(b) |
250 | 15,575 | ||||||
Ambarella, Inc.(b) |
128 | 17,883 | ||||||
Amkor Technology, Inc. |
6,225 | 141,121 | ||||||
Anaplan, Inc.(b) |
148 | 7,011 | ||||||
AppFolio, Inc., Class A(b)(c) |
78 | 8,825 | ||||||
Appian Corp.(b)(c) |
76 | 4,633 | ||||||
Applied Optoelectronics, Inc.(b)(c) |
594 | 2,156 | ||||||
Arlo Technologies, Inc.(b) |
987 | 9,159 | ||||||
Aspen Technology, Inc.(b) |
346 | 52,734 |
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
AudioCodes Ltd. (Israel) |
205 | $ | 5,810 | |||||
Avalara, Inc.(b) |
138 | 14,340 | ||||||
Avaya Holdings Corp.(b)(c) |
3,189 | 43,913 | ||||||
Avid Technology, Inc.(b) |
121 | 3,807 | ||||||
Axcelis Technologies, Inc.(b) |
467 | 32,326 | ||||||
Azenta, Inc. |
404 | 35,358 | ||||||
Badger Meter, Inc. |
221 | 21,970 | ||||||
Belden, Inc. |
1,149 | 64,746 | ||||||
Benchmark Electronics, Inc. |
1,844 | 48,202 | ||||||
Benefitfocus, Inc.(b) |
319 | 3,215 | ||||||
Black Knight, Inc.(b) |
1,147 | 64,450 | ||||||
Blackbaud, Inc.(b) |
472 | 29,495 | ||||||
Blackline, Inc.(b) |
127 | 9,564 | ||||||
Bottomline Technologies (DE), Inc.(b) |
521 | 29,509 | ||||||
Box, Inc., Class A(b) |
1,134 | 29,042 | ||||||
Brightcove, Inc.(b) |
319 | 2,386 | ||||||
CalAmp Corp.(b) |
575 | 4,059 | ||||||
Calix, Inc.(b) |
225 | 12,226 | ||||||
Cambium Networks Corp.(b) |
35 | 973 | ||||||
Cantaloupe, Inc.(b) |
190 | 1,476 | ||||||
Casa Systems, Inc.(b) |
674 | 2,804 | ||||||
CDK Global, Inc. |
936 | 42,438 | ||||||
Cerence, Inc.(b) |
457 | 16,502 | ||||||
Ceridian HCM Holding, Inc.(b) |
465 | 33,903 | ||||||
CEVA, Inc.(b) |
175 | 7,135 | ||||||
ChannelAdvisor Corp.(b) |
237 | 4,254 | ||||||
Ciena Corp.(b) |
2,523 | 172,624 | ||||||
Cirrus Logic, Inc.(b) |
965 | 83,830 | ||||||
Cloudflare, Inc., Class A(b) |
216 | 25,147 | ||||||
CMC Materials, Inc. |
409 | 75,841 | ||||||
Cognex Corp. |
1,041 | 70,330 | ||||||
Coherent, Inc.(b) |
174 | 45,992 | ||||||
Cohu, Inc.(b) |
516 | 16,089 | ||||||
CommVault Systems, Inc.(b) |
418 | 26,296 | ||||||
Comtech Telecommunications Corp. |
850 | 17,493 | ||||||
Conduent, Inc.(b) |
11,250 | 54,787 | ||||||
Consensus Cloud Solutions, Inc.(b) |
235 | 13,080 | ||||||
Coupa Software, Inc.(b)(c) |
76 | 9,197 | ||||||
Crowdstrike Holdings, Inc., Class A(b) |
204 | 39,823 | ||||||
CSG Systems International, Inc. |
840 | 51,845 | ||||||
CTS Corp. |
506 | 19,198 | ||||||
Daktronics, Inc.(b) |
1,770 | 8,160 | ||||||
Datadog, Inc., Class A(b) |
262 | 42,211 | ||||||
Diebold Nixdorf, Inc.(b) |
2,611 | 22,716 | ||||||
Digi International, Inc.(b) |
649 | 13,032 | ||||||
Digimarc Corp.(b)(c) |
5 | 151 | ||||||
Digital Turbine, Inc.(b)(c) |
109 | 5,284 | ||||||
Diodes, Inc.(b) |
850 | 76,151 | ||||||
DocuSign, Inc.(b) |
421 | 49,859 | ||||||
Dolby Laboratories, Inc., Class A |
1,326 | 99,583 | ||||||
Dropbox, Inc., Class A(b) |
4,602 | 104,419 | ||||||
Dynatrace, Inc.(b) |
348 | 15,458 | ||||||
Ebix, Inc. |
647 | 19,093 | ||||||
Elastic N.V.(b) |
90 | 7,798 | ||||||
Enphase Energy, Inc.(b) |
238 | 39,675 | ||||||
Entegris, Inc. |
779 | 101,644 | ||||||
Envestnet, Inc.(b) |
576 | 43,096 | ||||||
EPAM Systems, Inc.(b) |
195 | 40,511 | ||||||
ePlus, Inc.(b) |
616 | 28,890 | ||||||
Euronet Worldwide, Inc.(b) |
743 | 95,275 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
36 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
Everbridge, Inc.(b) |
72 | $ | 2,845 | |||||
EVERTEC, Inc. |
552 | 22,279 | ||||||
Evo Payments, Inc., Class A(b) |
170 | 4,099 | ||||||
ExlService Holdings, Inc.(b) |
437 | 52,785 | ||||||
Extreme Networks, Inc.(b) |
1,603 | 18,418 | ||||||
F5, Inc.(b) |
732 | 147,022 | ||||||
Fabrinet (Thailand)(b) |
586 | 58,676 | ||||||
Fair Isaac Corp.(b) |
194 | 91,411 | ||||||
FARO Technologies, Inc.(b) |
157 | 8,594 | ||||||
Fastly, Inc., Class A(b)(c) |
213 | 3,962 | ||||||
First Solar, Inc.(b) |
1,689 | 127,165 | ||||||
Five9, Inc.(b) |
72 | 7,920 | ||||||
FormFactor, Inc.(b) |
936 | 37,899 | ||||||
Genpact Ltd. |
2,874 | 120,248 | ||||||
Grid Dynamics Holdings, Inc.(b) |
555 | 6,743 | ||||||
Guidewire Software, Inc.(b) |
515 | 45,397 | ||||||
Hackett Group, Inc. (The) |
519 | 10,754 | ||||||
Harmonic, Inc.(b)(c) |
1,589 | 14,794 | ||||||
HubSpot, Inc.(b) |
58 | 30,450 | ||||||
Ichor Holdings Ltd.(b) |
330 | 11,626 | ||||||
II-VI Incorporated(b)(c) |
1,523 | 105,788 | ||||||
Impinj, Inc.(b) |
62 | 4,262 | ||||||
Infinera Corp.(b)(c) |
1,480 | 13,660 | ||||||
Inseego Corp.(b)(c) |
449 | 2,115 | ||||||
InterDigital, Inc. |
546 | 35,173 | ||||||
IPG Photonics Corp.(b) |
345 | 44,971 | ||||||
Itron, Inc.(b) |
534 | 25,456 | ||||||
Jack Henry & Associates, Inc. |
799 | 141,263 | ||||||
Knowles Corp.(b)(c) |
2,111 | 45,978 | ||||||
Kulicke & Soffa Industries, Inc. (Singapore)(c) |
787 | 41,113 | ||||||
Lattice Semiconductor Corp.(b) |
449 | 28,116 | ||||||
Limelight Networks, Inc.(b) |
2,288 | 8,946 | ||||||
Littelfuse, Inc. |
286 | 73,848 | ||||||
LivePerson, Inc.(b)(c) |
132 | 2,677 | ||||||
LiveRamp Holdings, Inc.(b) |
904 | 39,017 | ||||||
Lumentum Holdings, Inc.(b)(c) |
1,373 | 135,735 | ||||||
MACOM Technology Solutions Holdings, Inc.(b) |
283 | 17,008 | ||||||
MagnaChip Semiconductor Corp. |
453 | 8,245 | ||||||
Mandiant, Inc.(b) |
1,304 | 25,819 | ||||||
Manhattan Associates, Inc.(b) |
234 | 31,281 | ||||||
Marathon Digital Holdings, Inc.(b)(c) |
36 | 913 | ||||||
Maximus, Inc. |
1,233 | 97,234 | ||||||
MaxLinear, Inc.(b) |
449 | 27,546 | ||||||
Methode Electronics, Inc. |
758 | 34,595 | ||||||
MicroStrategy, Inc., Class A(b)(c) |
76 | 33,668 | ||||||
Mimecast Ltd.(b) |
342 | 27,199 | ||||||
MiX Telematics Ltd., ADR (South Africa)(b) |
188 | 2,209 | ||||||
MKS Instruments, Inc. |
556 | 83,734 | ||||||
Model N, Inc.(b)(c) |
115 | 2,828 | ||||||
Momentive Global, Inc.(b) |
615 | 9,668 | ||||||
MongoDB, Inc.(b) |
20 | 7,640 | ||||||
Monolithic Power Systems, Inc. |
160 | 73,392 | ||||||
N-able, Inc.(b)(c) |
558 | 6,456 | ||||||
National Instruments Corp. |
1,983 | 79,617 | ||||||
Net 1 UEPS Technologies, Inc. (South Africa)(b) |
413 | 2,115 | ||||||
NETGEAR, Inc.(b) |
1,041 | 27,701 | ||||||
NetScout Systems, Inc.(b) |
2,624 | 81,685 | ||||||
New Relic, Inc.(b) |
286 | 18,945 | ||||||
nLight, Inc.(b) |
261 | 4,254 |
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
Novanta, Inc.(b) |
178 | $ | 24,320 | |||||
Nuance Communications, Inc.(b) |
1,583 | 87,888 | ||||||
Nutanix, Inc., Class A(b) |
645 | 17,221 | ||||||
Okta, Inc.(b) |
108 | 19,747 | ||||||
OneSpan, Inc.(b) |
336 | 4,630 | ||||||
Onto Innovation, Inc.(b) |
574 | 49,485 | ||||||
Opera Ltd., ADR (Norway)(b) |
2,485 | 15,357 | ||||||
OSI Systems, Inc.(b) |
413 | 33,317 | ||||||
PagerDuty, Inc.(b) |
222 | 7,508 | ||||||
PAR Technology Corp.(b)(c) |
34 | 1,426 | ||||||
Paya Holdings, Inc., Class A(b) |
131 | 845 | ||||||
Paycom Software, Inc.(b) |
119 | 40,366 | ||||||
Paylocity Holding Corp.(b) |
114 | 24,218 | ||||||
PC Connection, Inc. |
947 | 46,204 | ||||||
PDF Solutions, Inc.(b) |
318 | 8,700 | ||||||
Pegasystems, Inc. |
129 | 11,238 | ||||||
Perficient, Inc.(b) |
322 | 32,812 | ||||||
Photronics, Inc.(b) |
2,519 | 46,400 | ||||||
Ping Identity Holding Corp.(b)(c) |
320 | 6,733 | ||||||
Plantronics, Inc.(b) |
951 | 26,790 | ||||||
Plexus Corp.(b) |
791 | 64,443 | ||||||
Power Integrations, Inc. |
457 | 41,130 | ||||||
Progress Software Corp. |
696 | 30,680 | ||||||
PROS Holdings, Inc.(b)(c) |
132 | 4,195 | ||||||
PTC, Inc.(b) |
460 | 51,189 | ||||||
Pure Storage, Inc., Class A(b) |
3,159 | 81,944 | ||||||
Q2 Holdings, Inc.(b) |
127 | 8,261 | ||||||
Qualys, Inc.(b) |
365 | 45,738 | ||||||
Rambus, Inc.(b) |
1,841 | 49,707 | ||||||
Rapid7, Inc.(b) |
95 | 9,829 | ||||||
Repay Holdings Corp.(b)(c) |
1,460 | 25,214 | ||||||
Ribbon Communications, Inc.(b) |
2,727 | 8,290 | ||||||
RingCentral, Inc., Class A(b) |
103 | 13,476 | ||||||
Rogers Corp.(b) |
208 | 56,784 | ||||||
Sabre Corp.(b) |
1,838 | 20,089 | ||||||
SailPoint Technologies Holding, Inc.(b) |
326 | 13,487 | ||||||
ScanSource, Inc.(b) |
2,068 | 65,307 | ||||||
Semtech Corp.(b) |
678 | 47,040 | ||||||
Silicon Laboratories, Inc.(b) |
346 | 53,184 | ||||||
SiTime Corp.(b)(c) |
37 | 7,479 | ||||||
SMART Global Holdings, Inc.(b) |
846 | 23,223 | ||||||
Smartsheet, Inc., Class A(b) |
207 | 11,006 | ||||||
SolarEdge Technologies, Inc.(b) |
203 | 64,842 | ||||||
SolarWinds Corp. |
578 | 7,832 | ||||||
Splunk, Inc.(b) |
489 | 57,751 | ||||||
Sprout Social, Inc., Class A(b) |
66 | 4,297 | ||||||
SPS Commerce, Inc.(b) |
195 | 25,321 | ||||||
StoneCo Ltd., Class A (Brazil)(b)(c) |
418 | 4,698 | ||||||
Stratasys Ltd.(b)(c) |
1,127 | 28,265 | ||||||
SunPower Corp.(b)(c) |
43 | 771 | ||||||
Super Micro Computer, Inc.(b) |
1,617 | 63,532 | ||||||
Switch, Inc., Class A |
1,423 | 37,026 | ||||||
Synaptics, Inc.(b) |
408 | 93,199 | ||||||
Teledyne Technologies, Inc.(b) |
307 | 131,820 | ||||||
Tenable Holdings, Inc.(b) |
208 | 11,515 | ||||||
Teradata Corp.(b) |
1,496 | 74,785 | ||||||
Trade Desk, Inc. (The), Class A(b) |
839 | 71,583 | ||||||
TTEC Holdings, Inc. |
221 | 17,569 | ||||||
TTM Technologies, Inc.(b) |
4,521 | 56,829 | ||||||
Tucows, Inc., Class A(b)(c) |
78 | 5,240 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
37 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Information Technology-(continued) |
||||||||
Tufin Software Technologies Ltd. (Israel)(b) |
93 | $ | 852 | |||||
Twilio, Inc., Class A(b) |
358 | 62,578 | ||||||
Tyler Technologies, Inc.(b) |
168 | 71,948 | ||||||
Ultra Clean Holdings, Inc.(b) |
581 | 26,616 | ||||||
Universal Display Corp. |
166 | 25,715 | ||||||
Upland Software, Inc.(b) |
204 | 3,847 | ||||||
Varonis Systems, Inc.(b) |
90 | 3,924 | ||||||
Veeco Instruments, Inc.(b)(c) |
638 | 18,228 | ||||||
Velodyne Lidar, Inc.(b)(c) |
24 | 89 | ||||||
Verint Systems, Inc.(b)(c) |
1,528 | 76,751 | ||||||
Verra Mobility Corp.(b)(c) |
1,004 | 16,867 | ||||||
ViaSat, Inc.(b)(c) |
2,127 | 97,076 | ||||||
Viavi Solutions, Inc.(b) |
2,752 | 45,133 | ||||||
Vishay Intertechnology, Inc.(c) |
3,462 | 66,436 | ||||||
Vonage Holdings Corp.(b)(c) |
2,287 | 46,472 | ||||||
WEX, Inc.(b) |
617 | 103,971 | ||||||
Wolfspeed, Inc.(b)(c) |
440 | 45,197 | ||||||
Workiva, Inc.(b) |
76 | 8,003 | ||||||
Xperi Holding Corp. |
2,641 | 45,742 | ||||||
Yext, Inc.(b)(c) |
497 | 3,688 | ||||||
Zendesk, Inc.(b) |
165 | 19,251 | ||||||
Zoom Video Communications, Inc., Class A(b) |
350 | 46,410 | ||||||
Zscaler, Inc.(b) |
67 | 16,023 | ||||||
Zuora, Inc., Class A(b)(c) |
469 | 7,119 | ||||||
|
|
|||||||
7,667,613 | ||||||||
|
|
|||||||
Materials-6.98% |
||||||||
AdvanSix, Inc. |
970 | 38,858 | ||||||
Allegheny Technologies, Inc.(b) |
3,763 | 96,860 | ||||||
American Vanguard Corp. |
733 | 11,046 | ||||||
AptarGroup, Inc. |
782 | 95,310 | ||||||
Arconic Corp.(b) |
2,091 | 64,194 | ||||||
Ashland Global Holdings, Inc. |
1,348 | 124,393 | ||||||
Avient Corp. |
1,707 | 89,430 | ||||||
Axalta Coating Systems Ltd.(b) |
3,536 | 95,613 | ||||||
Balchem Corp. |
279 | 38,597 | ||||||
Cabot Corp. |
1,469 | 107,472 | ||||||
Carpenter Technology Corp. |
1,667 | 63,996 | ||||||
Century Aluminum Co.(b) |
1,476 | 34,863 | ||||||
Chase Corp. |
102 | 9,367 | ||||||
Clearwater Paper Corp.(b) |
1,468 | 42,322 | ||||||
Cleveland-Cliffs, Inc.(b)(c) |
4,048 | 90,513 | ||||||
Coeur Mining, Inc.(b) |
2,943 | 12,655 | ||||||
Compass Minerals International, Inc. |
758 | 44,434 | ||||||
Eagle Materials, Inc. |
611 | 83,603 | ||||||
Element Solutions, Inc. |
3,314 | 81,458 | ||||||
Ferro Corp.(b) |
803 | 17,449 | ||||||
Ferroglobe PLC(b) |
3,072 | 24,054 | ||||||
Forterra, Inc.(b) |
693 | 16,327 | ||||||
GCP Applied Technologies, Inc.(b) |
831 | 26,243 | ||||||
Glatfelter Corp. |
1,875 | 25,763 | ||||||
Gold Resource Corp. |
2,169 | 3,514 | ||||||
Greif, Inc., Class A |
1,810 | 104,057 | ||||||
H.B. Fuller Co. |
1,201 | 82,112 | ||||||
Hawkins, Inc. |
470 | 21,272 | ||||||
Haynes International, Inc. |
415 | 15,172 | ||||||
Hecla Mining Co. |
5,694 | 32,797 | ||||||
Ingevity Corp.(b) |
637 | 43,463 | ||||||
Innospec, Inc. |
446 | 42,593 | ||||||
Intrepid Potash, Inc.(b) |
292 | 16,612 |
Shares | Value | |||||||
Materials-(continued) |
||||||||
Kaiser Aluminum Corp. |
407 | $ | 39,276 | |||||
Koppers Holdings, Inc.(b) |
888 | 25,423 | ||||||
Kraton Corp.(b) |
1,354 | 62,487 | ||||||
Livent Corp.(b)(c) |
798 | 18,793 | ||||||
Louisiana-Pacific Corp. |
1,943 | 139,799 | ||||||
Materion Corp. |
441 | 36,846 | ||||||
Mercer International, Inc. (Germany) |
1,541 | 20,603 | ||||||
Mesabi Trust(b)(c) |
179 | 4,969 | ||||||
Minerals Technologies, Inc. |
803 | 56,202 | ||||||
Myers Industries, Inc. |
688 | 11,435 | ||||||
Neenah, Inc. |
521 | 20,293 | ||||||
NewMarket Corp. |
176 | 55,926 | ||||||
O-I Glass, Inc.(b) |
7,030 | 89,843 | ||||||
Orion Engineered Carbons S.A. (Germany) |
1,620 | 25,175 | ||||||
Quaker Chemical Corp. |
163 | 30,254 | ||||||
Ranpak Holdings Corp.(b)(c) |
778 | 18,828 | ||||||
Rayonier Advanced Materials, Inc.(b) |
4,994 | 29,315 | ||||||
Resolute Forest Products, Inc. |
2,892 | 36,063 | ||||||
Royal Gold, Inc. |
643 | 77,970 | ||||||
Schnitzer Steel Industries, Inc., Class A |
793 | 38,579 | ||||||
Schweitzer-Mauduit International, Inc., Class A |
920 | 28,722 | ||||||
Scotts Miracle-Gro Co. (The) |
496 | 69,470 | ||||||
Sealed Air Corp. |
2,219 | 148,962 | ||||||
Sensient Technologies Corp. |
623 | 51,167 | ||||||
Silgan Holdings, Inc. |
2,202 | 92,220 | ||||||
Stepan Co. |
410 | 42,484 | ||||||
Summit Materials, Inc., Class A(b) |
2,370 | 73,991 | ||||||
SunCoke Energy, Inc. |
6,092 | 48,310 | ||||||
TimkenSteel Corp.(b) |
1,841 | 33,193 | ||||||
Tredegar Corp. |
1,892 | 21,777 | ||||||
TriMas Corp. |
1,018 | 33,095 | ||||||
Trinseo PLC |
1,178 | 61,209 | ||||||
Tronox Holdings PLC, Class A |
2,869 | 58,241 | ||||||
Valvoline, Inc. |
2,279 | 73,680 | ||||||
Venator Materials PLC(b) |
4,162 | 9,489 | ||||||
Verso Corp., Class A |
2,388 | 63,306 | ||||||
Warrior Met Coal, Inc. |
2,608 | 82,152 | ||||||
Westlake Corp. |
795 | 87,697 | ||||||
Worthington Industries, Inc. |
962 | 54,853 | ||||||
|
|
|||||||
3,668,509 | ||||||||
|
|
|||||||
Real Estate-5.00% |
||||||||
Alexander & Baldwin, Inc. |
1,123 | 25,189 | ||||||
Alexander’s, Inc. |
51 | 12,924 | ||||||
American Homes 4 Rent, Class A |
2,330 | 88,563 | ||||||
Americold Realty Trust |
2,284 | 61,028 | ||||||
Armada Hoffler Properties, Inc. |
1,960 | 28,773 | ||||||
Camden Property Trust |
845 | 139,518 | ||||||
CatchMark Timber Trust, Inc., Class A |
859 | 6,580 | ||||||
Centerspace |
333 | 31,299 | ||||||
Community Healthcare Trust, Inc. |
224 | 9,341 | ||||||
CorePoint Lodging, Inc.(b)(c) |
1,478 | 23,604 | ||||||
Corporate Office Properties Trust |
2,049 | 53,704 | ||||||
CubeSmart |
1,316 | 63,444 | ||||||
Cushman & Wakefield PLC(b)(c) |
6,156 | 134,940 | ||||||
CyrusOne, Inc. |
1,430 | 129,200 | ||||||
Diversified Healthcare Trust |
18,908 | 54,455 | ||||||
Douglas Elliman, Inc.(b) |
1,377 | 10,383 | ||||||
EastGroup Properties, Inc. |
296 | 56,465 | ||||||
Empire State Realty Trust, Inc., Class A(c) |
5,118 | 48,416 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
38 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 2022
(Unaudited)
Shares | Value | |||||||
Real Estate-(continued) |
||||||||
Equity LifeStyle Properties, Inc. |
1,236 | $ | 92,230 | |||||
eXp World Holdings, Inc. |
509 | 13,611 | ||||||
Forestar Group, Inc.(b) |
156 | 2,856 | ||||||
Franklin Street Properties Corp. |
3,931 | 22,721 | ||||||
Gaming and Leisure Properties, Inc. |
2,923 | 132,733 | ||||||
Gladstone Commercial Corp. |
626 | 13,265 | ||||||
Healthcare Realty Trust, Inc. |
2,073 | 54,064 | ||||||
Highwoods Properties, Inc. |
2,143 | 93,435 | ||||||
Independence Realty Trust, Inc. |
1,439 | 36,364 | ||||||
Lamar Advertising Co., Class A |
1,240 | 135,234 | ||||||
Life Storage, Inc. |
554 | 70,131 | ||||||
Marcus & Millichap, Inc.(b) |
297 | 14,770 | ||||||
National Storage Affiliates Trust |
926 | 53,958 | ||||||
Newmark Group, Inc., Class A |
4,777 | 84,457 | ||||||
Office Properties Income Trust |
2,067 | 51,778 | ||||||
Outfront Media, Inc. |
2,896 | 77,323 | ||||||
Piedmont Office Realty Trust, Inc., Class A |
3,867 | 65,894 | ||||||
PotlatchDeltic Corp |
920 | 50,508 | ||||||
PS Business Parks, Inc. |
430 | 68,495 | ||||||
Rayonier, Inc. |
1,559 | 61,892 | ||||||
RE/MAX Holdings, Inc., Class A |
359 | 10,641 | ||||||
Realogy Holdings Corp.(b) |
6,739 | 122,515 | ||||||
Redfin Corp.(b)(c) |
305 | 6,597 | ||||||
RMR Group, Inc. (The), Class A |
469 | 13,667 | ||||||
Saul Centers, Inc. |
451 | 20,760 | ||||||
St. Joe Co. (The) |
217 | 11,725 | ||||||
Sun Communities, Inc.(c) |
461 | 83,441 | ||||||
Tanger Factory Outlet Centers, Inc.(c) |
2,444 | 40,766 | ||||||
UMH Properties, Inc. |
980 | 22,599 | ||||||
Uniti Group, Inc. |
4,265 | 55,317 | ||||||
Universal Health Realty Income Trust |
120 | 6,853 | ||||||
Urstadt Biddle Properties, Inc., Class A |
1,184 | 22,295 | ||||||
Zillow Group, Inc., Class C(b)(c) |
666 | 38,308 | ||||||
|
|
|||||||
2,629,029 | ||||||||
|
|
|||||||
Utilities-3.66% |
||||||||
ALLETE, Inc. |
1,302 | 81,948 | ||||||
American States Water Co. |
393 | 33,075 | ||||||
Avangrid, Inc. |
1,959 | 87,900 | ||||||
Avista Corp. |
1,903 | 84,931 | ||||||
Black Hills Corp. |
1,696 | 118,703 | ||||||
California Water Service Group |
679 | 38,655 | ||||||
Chesapeake Utilities Corp. |
244 | 32,440 | ||||||
Hawaiian Electric Industries, Inc. |
2,869 | 117,572 | ||||||
IDACORP, Inc. |
1,050 | 109,148 | ||||||
MGE Energy, Inc. |
504 | 36,298 |
Investment Abbreviations:
ADR-American Depositary Receipt
Shares | Value | |||||||
Utilities-(continued) |
||||||||
Middlesex Water Co. |
159 | $ | 15,898 | |||||
National Fuel Gas Co. |
2,330 | 145,019 | ||||||
New Jersey Resources Corp. |
2,073 | 90,424 | ||||||
Northwest Natural Holding Co. |
817 | 42,492 | ||||||
NorthWestern Corp. |
1,379 | 83,402 | ||||||
ONE Gas, Inc. |
964 | 80,099 | ||||||
Ormat Technologies, Inc.(c) |
764 | 54,511 | ||||||
Otter Tail Corp. |
896 | 55,427 | ||||||
PNM Resources, Inc. |
1,953 | 88,217 | ||||||
Portland General Electric Co. |
2,635 | 133,779 | ||||||
SJW Group |
534 | 34,828 | ||||||
South Jersey Industries, Inc.(c) |
2,910 | 98,736 | ||||||
Southwest Gas Holdings, Inc. |
2,012 | 142,731 | ||||||
Spire, Inc. |
1,518 | 101,873 | ||||||
Unitil Corp. |
350 | 17,672 | ||||||
|
|
|||||||
1,925,778 | ||||||||
|
|
|||||||
Total Common Stocks & Other Equity
Interests |
|
52,490,054 | ||||||
|
|
|||||||
Money Market Funds-0.06% |
||||||||
Invesco Government & Agency Portfolio,
Institutional Class, 0.03%(f)(g) |
33,117 | 33,117 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES |
|
52,523,171 | ||||||
|
|
|||||||
Investments Purchased with Cash Collateral from Securities on Loan |
| |||||||
Money Market Funds-10.59% |
||||||||
Invesco Private Government Fund, 0.12%(f)(g)(h) |
1,642,780 | 1,642,780 | ||||||
Invesco Private Prime Fund, 0.08%(f)(g)(h) |
3,919,886 | 3,920,278 | ||||||
|
|
|||||||
Total Investments Purchased with Cash Collateral from
Securities on Loan |
|
5,563,058 | ||||||
|
|
|||||||
TOTAL INVESTMENTS IN SECURITIES-110.54% |
|
58,086,229 | ||||||
OTHER ASSETS LESS LIABILITIES-(10.54)% |
|
(5,539,190 | ) | |||||
|
|
|||||||
NET ASSETS-100.00% |
$ | 52,547,039 | ||||||
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
39 | ||||
|
| |||
Invesco RAFITM Strategic US Small Company ETF (IUSS)–(continued)
February 28, 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 February 28, 2022. |
(d) |
Restricted security. The aggregate value of these securities at February 28, 2022 was $28,357, 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 February 28, 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 February 28, 2022. |
Value August 31, 2021 |
Purchases at Cost |
Proceeds from Sales |
Change
in Unrealized Appreciation (Depreciation) |
Realized Gain (Loss) |
Value February 28, 2022 |
Dividend Income | |||||||||||||||||||||||||||||
Investments in Affiliated Money Market Funds: | |||||||||||||||||||||||||||||||||||
Invesco Government & Agency Portfolio, Institutional Class | $ | 34,048 | $ | 793,870 | $ | (794,801 | ) | $ | - | $ | - | $ | 33,117 | $ | 4 | ||||||||||||||||||||
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||||||||||||||||||||||||||||||
Invesco Private Government Fund | 731,400 | 4,323,952 | (3,412,572 | ) | - | - | 1,642,780 | 191 | * | ||||||||||||||||||||||||||
Invesco Private Prime Fund | 1,892,831 | 8,070,431 | (6,041,981 | ) | (391 | ) | (612 | ) | 3,920,278 | 1,508 | * | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||
Total | $ | 2,658,279 | $ | 13,188,253 | $ | (10,249,354 | ) | $ | (391 | ) | $ | (612 | ) | $ | 5,596,175 | $ | 1,703 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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 February 28, 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 February 28, 2022
Industrials |
23.01 | |||||
Consumer Discretionary |
15.00 | |||||
Information Technology |
14.59 | |||||
Health Care |
9.60 | |||||
Energy |
7.10 | |||||
Materials |
6.98 | |||||
Financials |
6.83 | |||||
Real Estate |
5.00 | |||||
Consumer Staples |
4.66 | |||||
Utilities |
3.66 | |||||
Communication Services |
3.46 | |||||
Money Market Funds Plus Other Assets Less Liabilities |
0.11 |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
40 | ||||
|
| |||
Statements of Assets and Liabilities
February 28, 2022
(Unaudited)
Invesco | Invesco | Invesco | ||||||||||||||||||
RAFITM | RAFITM | RAFITM | ||||||||||||||||||
Invesco | Strategic | Strategic | Invesco | Strategic | ||||||||||||||||
Defensive | Developed | Emerging | RAFITM | US Small | ||||||||||||||||
Equity | ex-US | Markets | Strategic US | Company | ||||||||||||||||
ETF (DEF) | ETF (ISDX) | ETF (ISEM) | ETF (IUS) | ETF (IUSS) | ||||||||||||||||
Assets: |
||||||||||||||||||||
Unaffiliated investments in securities, at value(a) |
$ | 286,186,047 | $ | 330,135,958 | $ | 28,103,958 | $ | 205,652,593 | $ | 52,490,054 | ||||||||||
Affiliated investments in securities, at value |
110,116 | 15,261,957 | 655,204 | 3,852,068 | 5,596,175 | |||||||||||||||
Foreign currencies, at value |
- | - | 6,108 | - | - | |||||||||||||||
Deposits with brokers: |
||||||||||||||||||||
Cash segregated as collateral |
- | 1,544,407 | - | - | - | |||||||||||||||
Receivable for: |
||||||||||||||||||||
Dividends |
478,464 | 901,299 | 15,355 | 372,830 | 32,332 | |||||||||||||||
Securities lending |
9 | 3,577 | 562 | 258 | 1,087 | |||||||||||||||
Investments sold |
8,156,291 | 71 | 1 | - | - | |||||||||||||||
Fund shares sold |
2,032,452 | 235,966 | - | - | - | |||||||||||||||
Foreign tax reclaims |
3,497 | 214,211 | - | - | - | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total assets |
296,966,876 | 348,297,446 | 28,781,188 | 209,877,749 | 58,119,648 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Liabilities: |
||||||||||||||||||||
Due to custodian |
- | - | 5,978 | 253 | 1 | |||||||||||||||
Due to foreign custodian |
- | 44,143 | - | - | - | |||||||||||||||
Payable for: |
||||||||||||||||||||
Investments purchased |
2,034,352 | 235,973 | 1 | - | - | |||||||||||||||
Collateral upon return of securities loaned |
- | 15,208,309 | 655,204 | 3,824,044 | 5,563,449 | |||||||||||||||
Collateral upon receipt of securities in-kind |
- | 1,544,407 | - | - | - | |||||||||||||||
Fund shares repurchased |
8,147,932 | - | - | - | - | |||||||||||||||
Accrued unitary management fees |
- | 58,443 | 8,078 | 29,780 | 9,159 | |||||||||||||||
Accrued advisory fees |
114,311 | - | - | - | - | |||||||||||||||
Accrued trustees’ and officer’s fees |
10,077 | - | - | - | - | |||||||||||||||
Accrued expenses |
84,403 | - | - | - | - | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total liabilities |
10,391,075 | 17,091,275 | 669,261 | 3,854,077 | 5,572,609 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net Assets |
$ | 286,575,801 | $ | 331,206,171 | $ | 28,111,927 | $ | 206,023,672 | $ | 52,547,039 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net assets consist of: |
||||||||||||||||||||
Shares of beneficial interest |
$ | 314,663,659 | $ | 298,884,302 | $ | 30,463,349 | $ | 167,228,923 | $ | 52,322,470 | ||||||||||
Distributable earnings (loss) |
(28,087,858 | ) | 32,321,869 | (2,351,422 | ) | 38,794,749 | 224,569 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net Assets |
$ | 286,575,801 | $ | 331,206,171 | $ | 28,111,927 | $ | 206,023,672 | $ | 52,547,039 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Shares outstanding (unlimited amount authorized, $0.01 par value) |
4,230,000 | 11,000,001 | 1,050,001 | 5,275,001 | 1,425,001 | |||||||||||||||
Net asset value |
$ | 67.75 | $ | 30.11 | $ | 26.77 | $ | 39.06 | $ | 36.88 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Market price |
$ | 67.72 | $ | 30.07 | $ | 26.82 | $ | 39.02 | $ | 36.89 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Unaffiliated investments in securities, at cost |
$ | 281,076,717 | $ | 292,949,679 | $ | 29,966,967 | $ | 164,244,100 | $ | 50,977,027 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Affiliated investments in securities, at cost |
$ | 110,116 | $ | 15,262,467 | $ | 655,204 | $ | 3,852,253 | $ | 5,596,566 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Foreign currencies (due to foreign custodian), at cost |
$ | - | $ | (44,524 | ) | $ | 4,881 | $ | - | $ | - | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
(a) Includes securities on loan with an aggregate value of: |
$ | - | $ | 14,488,080 | $ | 636,523 | $ | 3,731,817 | $ | 5,462,606 | ||||||||||
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
41 | ||||
|
| |||
For the six months ended February 28, 2022
(Unaudited)
Invesco | Invesco | Invesco | ||||||||||||||||||
RAFITM | RAFITM | RAFITM | ||||||||||||||||||
Invesco | Strategic | Strategic | Invesco | Strategic | ||||||||||||||||
Defensive | Developed | Emerging | RAFITM | US Small | ||||||||||||||||
Equity | ex-US | Markets | Strategic US | Company | ||||||||||||||||
ETF (DEF) | ETF (ISDX) | ETF (ISEM) | ETF (IUS) | ETF (IUSS) | ||||||||||||||||
Investment income: |
||||||||||||||||||||
Unaffiliated dividend income |
$ | 2,627,276 | $ | 3,939,710 | $ | 483,170 | $ | 1,725,815 | $ | 282,993 | ||||||||||
Affiliated dividend income |
34 | 64 | 10 | 18 | 4 | |||||||||||||||
Non-cash dividend income |
- | 1,049,106 | 19,068 | - | - | |||||||||||||||
Securities lending income |
90 | 80,673 | 2,404 | 2,637 | 4,197 | |||||||||||||||
Foreign withholding tax |
- | (425,398 | ) | (38,809 | ) | (33 | ) | (86 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Total investment income |
2,627,400 | 4,644,155 | 465,843 | 1,728,437 | 287,108 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Expenses: |
||||||||||||||||||||
Unitary management fees |
- | 353,052 | 48,616 | 178,647 | 50,671 | |||||||||||||||
Advisory fees |
706,734 | - | - | - | - | |||||||||||||||
Accounting & administration fees |
15,150 | - | - | - | - | |||||||||||||||
Custodian & transfer agent fees |
2,347 | - | - | - | - | |||||||||||||||
Trustees’ and officer’s fees |
923 | - | - | - | - | |||||||||||||||
Other expenses |
31,493 | - | - | - | - | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net expenses |
756,647 | 353,052 | 48,616 | 178,647 | 50,671 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net investment income |
1,870,753 | 4,291,103 | 417,227 | 1,549,790 | 236,437 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Realized and unrealized gain (loss) from: |
||||||||||||||||||||
Net realized gain (loss) from: |
||||||||||||||||||||
Unaffiliated investment securities |
(5,283,812 | ) | 249,360 | (108,234 | ) | 96,613 | 124,942 | |||||||||||||
Affiliated investment securities |
(396 | ) | (1,542 | ) | (172 | ) | (336 | ) | (612 | ) | ||||||||||
In-kind redemptions |
25,015,278 | - | - | - | 254,954 | |||||||||||||||
Foreign currencies |
- | (25,316 | ) | (4,619 | ) | - | - | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net realized gain (loss) |
19,731,070 | 222,502 | (113,025 | ) | 96,277 | 379,284 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Change in net unrealized appreciation (depreciation) of: |
||||||||||||||||||||
Unaffiliated investment securities |
(29,879,487 | ) | (3,449,389 | ) | (2,069,225 | ) | 2,179,675 | (3,248,606 | ) | |||||||||||
Affiliated investment securities |
- | (510 | ) | - | (185 | ) | (391 | ) | ||||||||||||
Foreign currencies |
- | (1,437 | ) | (707 | ) | - | - | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Change in net unrealized appreciation (depreciation) |
(29,879,487 | ) | (3,451,336 | ) | (2,069,932 | ) | 2,179,490 | (3,248,997 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net realized and unrealized gain (loss) |
(10,148,417 | ) | (3,228,834 | ) | (2,182,957 | ) | 2,275,767 | (2,869,713 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net increase (decrease) in net assets resulting from operations |
$ | (8,277,664 | ) | $ | 1,062,269 | $ | (1,765,730 | ) | $ | 3,825,557 | $ | (2,633,276 | ) | |||||||
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
42 | ||||
|
| |||
(This Page Intentionally Left Blank)
43 | ||||
|
| |||
Statements of Changes in Net Assets
For the six months ended February 28, 2022 and the year ended August 31, 2021
(Unaudited)
Invesco RAFITM | ||||||||||||||||||||||||||||||||||||||
Invesco Defensive | Strategic Developed | |||||||||||||||||||||||||||||||||||||
Equity ETF (DEF) |
ex-US ETF (ISDX) |
|||||||||||||||||||||||||||||||||||||
Six Months Ended | Year Ended |
Six Months Ended |
Year Ended |
|||||||||||||||||||||||||||||||||||
February 28, | August 31, | February 28, | August 31, | |||||||||||||||||||||||||||||||||||
2022 |
2021 |
2022 |
2021 | |||||||||||||||||||||||||||||||||||
Operations: |
||||||||||||||||||||||||||||||||||||||
Net investment income |
$ | 1,870,753 | $ 2,785,894 | $ | 4,291,103 | $ | 8,439,438 | |||||||||||||||||||||||||||||||
Net realized gain (loss) |
19,731,070 | 53,300,136 | 222,502 | 20,609,278 | ||||||||||||||||||||||||||||||||||
Change in net unrealized appreciation (depreciation) |
(29,879,487 | ) | (4,327,731) | (3,451,336 | ) | 53,865,496 | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from operations |
(8,277,664 | ) | 51,758,299 | 1,062,269 | 82,914,212 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Distributions to Shareholders from: |
||||||||||||||||||||||||||||||||||||||
Distributable earnings |
(3,001,999 | ) | (3,462,014) | (8,624,046 | ) | (6,362,180 | ) | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Shareholder Transactions: |
||||||||||||||||||||||||||||||||||||||
Proceeds from shares sold |
200,819,649 | 312,404,475 | 38,107,997 | 36,923,981 | ||||||||||||||||||||||||||||||||||
Value of shares repurchased |
(203,884,195 | ) | (367,515,698) | - | (62,848,497 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets resulting from share transactions |
(3,064,546 | ) | (55,111,223) | 38,107,997 | (25,924,516 | ) | ||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Net increase (decrease) in net assets |
(14,344,209 | ) | (6,814,938) | 30,546,220 | 50,627,516 | |||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Net assets: |
||||||||||||||||||||||||||||||||||||||
Beginning of period |
300,920,010 | 307,734,948 | 300,659,951 | 250,032,435 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
End of period |
$ | 286,575,801 | $300,920,010 | $ | 331,206,171 | $ | 300,659,951 | |||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Changes in Shares Outstanding: |
||||||||||||||||||||||||||||||||||||||
Shares sold |
2,860,000 | 5,090,000 | 1,250,000 | 1,150,000 | ||||||||||||||||||||||||||||||||||
Shares repurchased |
(2,960,000 | ) | (6,160,000) | - | (2,100,000 | ) | ||||||||||||||||||||||||||||||||
Shares outstanding, beginning of period |
4,330,000 | 5,400,000 | 9,750,001 | 10,700,001 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||
Shares outstanding, end of period |
4,230,000 | 4,330,000 | 11,000,001 | 9,750,001 | ||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
44 | ||||
|
| |||
Invesco RAFITM | Invesco RAFITM | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Strategic Emerging | Invesco RAFITM | Strategic US Small | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Markets ETF (ISEM) | Strategic US ETF (IUS) | Company ETF (IUSS) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended | Year Ended | Six Months Ended | Year Ended | Six Months Ended | Year Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, | August 31, | February 28, | August 31, | February 28, | August 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 417,227 | $ | 864,815 | $ | 1,549,790 | $ | 2,734,088 | $ | 236,437 | $ | 278,843 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(113,025 | ) | 1,665,421 | 96,277 | 18,545,918 | 379,284 | 11,520,910 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(2,069,932 | ) | 2,634,417 | 2,179,490 | 31,020,286 | (3,248,997 | ) | 4,753,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1,765,730 | ) | 5,164,653 | 3,825,557 | 52,300,292 | (2,633,276 | ) | 16,553,232 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(894,597 | ) | (684,037 | ) | (1,538,760 | ) | (2,673,899 | ) | (125,382 | ) | (267,722 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2,769,725 | 7,674,500 | 23,727,362 | 43,067,428 | 17,248,670 | 23,591,813 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | (4,528,345 | ) | - | (55,897,486 | ) | (959,800 | ) | (30,027,449 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2,769,725 | 3,146,155 | 23,727,362 | (12,830,058 | ) | 16,288,870 | (6,435,636 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
109,398 | 7,626,771 | 26,014,159 | 36,796,335 | 13,530,212 | 9,849,874 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
28,002,529 | 20,375,758 | 180,009,513 | 143,213,178 | 39,016,827 | 29,166,953 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 28,111,927 | $ | 28,002,529 | $ | 206,023,672 | $ | 180,009,513 | $ | 52,547,039 | $ | 39,016,827 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
100,000 | 250,000 | 600,000 | 1,150,000 | 450,000 | 600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
- | (150,000 | ) | - | (1,575,000 | ) | (25,000 | ) | (850,000 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
950,001 | 850,001 | 4,675,001 | 5,100,001 | 1,000,001 | 1,250,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,050,001 | 950,001 | 5,275,001 | 4,675,001 | 1,425,001 | 1,000,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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|
|
|
|
|
|
45 | ||||
|
| |||
Invesco Defensive Equity ETF (DEF)
Six Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
February 28, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | Years Ended August 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | 2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Per Share Operating Performance: |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 69.50 | $ | 56.99 | $ | 53.27 | $ | 49.47 | $ | 43.25 | $ | 39.08 | |||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Net investment income(a) |
0.46 | 0.64 | 0.75 | 0.68 | 0.58 | 0.67 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(1.43 | ) | 12.66 | 3.62 | 3.73 | 6.40 | 4.35 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Total from investment operations |
(0.97 | ) | 13.30 | 4.37 | 4.41 | 6.98 | 5.02 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Distributions to shareholders from: |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net investment income |
(0.78 | ) | (0.79 | ) | (0.65 | ) | (0.61 | ) | (0.76 | ) | (0.85 | ) | |||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Net asset value at end of period |
$ | 67.75 | $ | 69.50 | $ | 56.99 | $ | 53.27 | $ | 49.47 | $ | 43.25 | |||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Market price at end of period |
$ | 67.72 | (b) | $ | 69.47 | (b) | $ | 57.08 | (b) | $ | 53.30 | (b) | $ | 49.53 | (b) | $ | 43.25 | ||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||
Net Asset Value Total Return(c) |
(1.44 | )% | 23.61 | % | 8.22 | % | 9.27 | % | 16.25 | % | 13.08 | % | |||||||||||||||||||||||||||||||||||||||||||
Market Price Total Return(c) |
(1.43 | )% | 23.36 | % | 8.34 | % | 9.20 | % | 16.39 | % | |||||||||||||||||||||||||||||||||||||||||||||
Ratios/Supplemental Data: |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 286,576 | $ | 300,920 | $ | 307,735 | $ | 245,052 | $ | 190,471 | $ | 175,171 | |||||||||||||||||||||||||||||||||||||||||||
Ratio to average net assets of: |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses, after Waivers |
0.54 | %(d) | 0.55 | % | 0.53 | % | 0.55 | % | 0.59 | % | 0.61 | % | |||||||||||||||||||||||||||||||||||||||||||
Expenses, prior to Waivers |
0.54 | %(d) | 0.55 | % | 0.53 | % | 0.55 | % | 0.59 | % | 0.63 | % | |||||||||||||||||||||||||||||||||||||||||||
Net investment income |
1.32 | %(d) | 1.05 | % | 1.42 | % | 1.37 | % | 1.25 | % | 1.67 | % | |||||||||||||||||||||||||||||||||||||||||||
Portfolio turnover rate(e) |
64 | % | 121 | % | 136 | % | 145 | % | 136 | % | 194 | % |
(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.
46 | ||||
|
| |||
Financial Highlights–(continued)
Invesco RAFITM Strategic Developed ex-US ETF (ISDX)
For the Period | ||||||||||||||||||||||||||||||||
Six Months Ended | September 10, 2018(a) | |||||||||||||||||||||||||||||||
February 28, | Through | |||||||||||||||||||||||||||||||
2022 | Years Ended August 31, | August 31, | ||||||||||||||||||||||||||||||
(Unaudited) | 2021 | 2020 | 2019 | |||||||||||||||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||||||||||||||
Net asset value at beginning of period |
$ | 30.84 | $ | 23.37 | $ | 23.97 | $ | 25.00 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net investment income(b) |
0.42 | 0.82 | 0.59 | 0.70 | ||||||||||||||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(0.29 | ) | 7.26 | (0.56 | ) | (1.24 | ) | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total from investment operations |
0.13 | 8.08 | 0.03 | (0.54 | ) | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||||||||||||||
Net investment income |
(0.69 | ) | (0.61 | ) | (0.63 | ) | (0.49 | ) | ||||||||||||||||||||||||
Net realized gains |
(0.17 | ) | - | - | - | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Total distributions |
(0.86 | ) | (0.61 | ) | (0.63 | ) | (0.49 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net asset value at end of period |
$ | 30.11 | $ | 30.84 | $ | 23.37 | $ | 23.97 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Market price at end of period(c) |
$ | 30.07 | $ | 30.85 | $ | 23.34 | $ | 23.94 | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||
Net Asset Value Total Return(d) |
0.51 | % | 34.94 | % | 0.43 | % | (2.10 | )%(e) | ||||||||||||||||||||||||
Market Price Total Return(d) |
0.34 | % | 35.15 | % | 0.41 | % | (2.22 | )%(e) | ||||||||||||||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 331,206 | $ | 300,660 | $ | 250,032 | $ | 234,946 | ||||||||||||||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||||||||||||||
Expenses |
0.23 | %(f) | 0.23 | % | 0.23 | % | 0.24 | %(g) | ||||||||||||||||||||||||
Net investment income |
2.80 | %(f) | 2.92 | % | 2.56 | % | 2.97 | %(g) | ||||||||||||||||||||||||
Portfolio turnover rate(h) |
3 | % | 18 | % | 26 | % | 47 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
The mean between the last bid and ask prices. |
(d) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(e) |
The net asset value total return from Fund Inception (September 12, 2018, the first day of trading on the exchange) to August 31, 2019 was (2.10)%. The market price total return from Fund Inception to August 31, 2019 was (2.22)%. |
(f) |
Annualized. |
(g) |
Ratios are annualized except for non-recurring costs associated with a proxy statement of 0.01%. |
(h) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
47 | ||||
|
| |||
Financial Highlights–(continued)
Invesco RAFITM Strategic Emerging Markets ETF (ISEM)
For the Period | ||||||||||||||||||||
Six Months Ended | September 10, 2018(a) | |||||||||||||||||||
February 28, | Through | |||||||||||||||||||
2022 | Years Ended August 31, | August 31, | ||||||||||||||||||
(Unaudited) | 2021 | 2020 | 2019 | |||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||
Net asset value at beginning of period |
$ | 29.48 | $ | 23.97 | $ | 24.08 | $ | 25.00 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net investment income(b) |
0.43 | 0.99 | 0.67 | 1.06 | ||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(2.20 | ) | 5.30 | (0.20 | )(c) | (1.60 | ) | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
(1.77 | ) | 6.29 | 0.47 | (0.54 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||
Net investment income |
(0.94 | ) | (0.78 | ) | (0.58 | ) | (0.38 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net asset value at end of period |
$ | 26.77 | $ | 29.48 | $ | 23.97 | $ | 24.08 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Market price at end of period(d) |
$ | 26.82 | $ | 29.50 | $ | 24.09 | $ | 24.09 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value Total Return(e) |
(6.06 | )% | 26.70 | % | 2.03 | %(c) | (2.22 | )%(f) | ||||||||||||
Market Price Total Return(e) |
(5.95 | )% | 26.13 | % | 2.48 | % | (2.19 | )%(f) | ||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 28,112 | $ | 28,003 | $ | 20,376 | $ | 25,286 | ||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||
Expenses |
0.35 | %(g) | 0.35 | % | 0.35 | % | 0.39 | %(h) | ||||||||||||
Net investment income |
3.00 | %(g) | 3.57 | % | 2.84 | % | 4.35 | %(h) | ||||||||||||
Portfolio turnover rate(i) |
3 | % | 30 | % | 19 | %(c) | 22 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
Amount includes the effect of the Adviser pay-in for an economic loss of $0.07 per share. Had the pay-in not been made, the net asset value total return would have been 1.73%. In addition, the portfolio turnover calculation includes the value of securities purchased and sold related to this transaction. |
(d) |
The mean between the last bid and ask prices. |
(e) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(f) |
The net asset value total return from Fund Inception (September 12, 2018, the first day of trading on the exchange) to August 31, 2019 was (1.95)%. The market price total return from Fund Inception to August 31, 2019 was (2.19)%. |
(g) |
Annualized. |
(h) |
Ratios are annualized except for non-recurring costs associated with a proxy statement of 0.04%. |
(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.
48 | ||||
|
| |||
Financial Highlights–(continued)
Invesco RAFITM Strategic US ETF (IUS)
For the Period | ||||||||||||||||||||
Six Months Ended | September 10, 2018(a) | |||||||||||||||||||
February 28, | Through | |||||||||||||||||||
2022 | Years Ended August 31, | August 31, | ||||||||||||||||||
(Unaudited) | 2021 | 2020 | 2019 | |||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||
Net asset value at beginning of period |
$ | 38.50 | $ | 28.08 | $ | 24.93 | $ | 25.00 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net investment income(b) |
0.32 | 0.56 | 0.54 | 0.58 | ||||||||||||||||
Net realized and unrealized gain (loss) on investments |
0.56 | 10.40 | 3.13 | (0.26 | ) | |||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
0.88 | 10.96 | 3.67 | 0.32 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||
Net investment income |
(0.32 | ) | (0.54 | ) | (0.52 | ) | (0.39 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net asset value at end of period |
$ | 39.06 | $ | 38.50 | $ | 28.08 | $ | 24.93 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Market price at end of period(c) |
$ | 39.02 | $ | 38.52 | $ | 28.14 | $ | 24.94 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value Total Return(d) |
2.31 | % | 39.47 | % | 15.17 | % | 1.45 | %(e) | ||||||||||||
Market Price Total Return(d) |
2.16 | % | 39.25 | % | 15.38 | % | 1.50 | %(e) | ||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 206,024 | $ | 180,010 | $ | 143,213 | $ | 117,188 | ||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||
Expenses |
0.19 | %(f) | 0.19 | % | 0.19 | % | 0.20 | %(g) | ||||||||||||
Net investment income |
1.65 | %(f) | 1.69 | % | 2.09 | % | 2.41 | %(g) | ||||||||||||
Portfolio turnover rate(h) |
1 | % | 15 | % | 15 | % | 8 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
The mean between the last bid and ask prices. |
(d) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(e) |
The net asset value total return from Fund Inception (September 12, 2018, the first day of trading on the exchange) to August 31, 2019 was 0.92%. The market price total return from Fund Inception to August 31, 2019 was 0.97%. |
(f) |
Annualized. |
(g) |
Ratios are annualized except for non-recurring costs associated with a proxy statement of 0.02%. |
(h) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
49 | ||||
|
| |||
Financial Highlights–(continued)
Invesco RAFITM Strategic US Small Company ETF (IUSS)
For the Period | ||||||||||||||||||||
Six Months Ended | September 10, 2018(a) | |||||||||||||||||||
February 28, | Through | |||||||||||||||||||
2022 | Years Ended August 31, | August 31, | ||||||||||||||||||
(Unaudited) | 2021 | 2020 | 2019 | |||||||||||||||||
Per Share Operating Performance: |
||||||||||||||||||||
Net asset value at beginning of period |
$ | 39.02 | $ | 23.33 | $ | 22.48 | $ | 25.00 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net investment income(b) |
0.20 | 0.26 | 0.24 | 0.23 | ||||||||||||||||
Net realized and unrealized gain (loss) on investments |
(2.23 | ) | 15.67 | 0.87 | (2.55 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Total from investment operations |
(2.03 | ) | 15.93 | 1.11 | (2.32 | ) | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Distributions to shareholders from: |
||||||||||||||||||||
Net investment income |
(0.11 | ) | (0.24 | ) | (0.26 | ) | (0.20 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net asset value at end of period |
$ | 36.88 | $ | 39.02 | $ | 23.33 | $ | 22.48 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Market price at end of period(c) |
$ | 36.89 | $ | 38.99 | $ | 23.38 | $ | 22.48 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Net Asset Value Total Return(d) |
(5.20 | )% | 68.57 | % | 5.13 | % | (9.20 | )%(e) | ||||||||||||
Market Price Total Return(d) |
(5.10 | )% | 68.09 | % | 5.36 | % | (9.20 | )%(e) | ||||||||||||
Ratios/Supplemental Data: |
||||||||||||||||||||
Net assets at end of period (000’s omitted) |
$ | 52,547 | $ | 39,017 | $ | 29,167 | $ | 24,724 | ||||||||||||
Ratio to average net assets of: |
||||||||||||||||||||
Expenses |
0.23 | %(f) | 0.23 | % | 0.23 | % | 0.28 | %(g) | ||||||||||||
Net investment income |
1.07 | %(f) | 0.79 | % | 1.07 | % | 1.05 | %(g) | ||||||||||||
Portfolio turnover rate(h) |
3 | % | 39 | % | 28 | % | 20 | % |
(a) |
Commencement of investment operations. |
(b) |
Based on average shares outstanding. |
(c) |
The mean between the last bid and ask prices. |
(d) |
Net asset value total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption at net asset value on the last day of the period. Net asset value total return includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Market price total return is calculated assuming an initial investment made at the market price at the beginning of the period, reinvestment of all dividends and distributions at market price during the period, and sale at the market price on the last day of the period. Total investment returns calculated for a period of less than one year are not annualized. |
(e) |
The net asset value total return from Fund Inception (September 12, 2018, the first day of trading on the exchange) to August 31, 2019 was (9.34)%. The market price total return from Fund Inception to August 31, 2019 was (9.31)%. |
(f) |
Annualized. |
(g) |
Ratios are annualized except for non-recurring costs associated with a proxy statement of 0.05%. |
(h) |
Portfolio turnover rate is not annualized for periods less than one year, if applicable, and does not include securities received or delivered from processing creations or redemptions. |
See accompanying Notes to Financial Statements which are an integral part of the financial statements.
50 | ||||
|
| |||
Invesco Exchange-Traded Self-Indexed Fund Trust
February 28, 2022
(Unaudited)
NOTE 1–Organization
Invesco Exchange-Traded Self-Indexed Fund Trust (the “Trust”) was organized as a Delaware statutory 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 Defensive Equity ETF (DEF) | “Defensive Equity ETF” | |
Invesco RAFITM Strategic Developed ex-US ETF (ISDX) | “RAFITM Strategic Developed ex-US ETF” | |
Invesco RAFITM Strategic Emerging Markets ETF (ISEM) | “RAFITM Strategic Emerging Markets ETF” | |
Invesco RAFITM Strategic US ETF (IUS) | “RAFITM Strategic US ETF” | |
Invesco RAFITM Strategic US Small Company ETF (IUSS) | “RAFITM Strategic US Small Company 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 The Nasdaq Stock Market, except for Shares of Defensive Equity ETF, which 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, the Shares are not individually redeemable securities of the Funds.
The investment objective of each Fund is to seek to track the investment results (before fees and expenses) of its respective index listed below (each, an “Underlying Index”):
Fund | Underlying Index | |
Defensive Equity ETF | Invesco Defensive Equity Index | |
RAFITM Strategic Developed ex-US ETF | Invesco Strategic Developed ex-US Index | |
RAFITM Strategic Emerging Markets ETF | Invesco Strategic Emerging Markets Index | |
RAFITM Strategic US ETF | Invesco Strategic US Index | |
RAFITM Strategic US Small Company ETF | Invesco Strategic US Small Company Index |
NOTE 2–Significant Accounting Policies
The following is a summary of the significant accounting policies followed by the Funds in preparation of their financial statements.
Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services–Investment Companies.
A. |
Security Valuation - Securities, including restricted securities, are valued according to the following policies: |
A security listed or traded on an exchange (except convertible securities) is generally valued at its last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded or, lacking any sales or official closing price on a particular day, the security may be valued at the closing bid price on that day. Securities traded in the over-the-counter market are valued based on prices furnished by independent pricing services or market makers. When such securities are valued by an independent pricing service they may be considered fair valued. Futures contracts are valued at the final settlement price set by an exchange on which they are principally traded. Listed options are valued at the mean between the last bid and asked prices from the exchange on which they are principally traded, or at the final settlement price set by such exchange. Swaps and options not listed on an exchange are valued by an independent source. For purposes of determining NAV per Share, futures and option contracts generally are valued 15 minutes after the close of the customary trading session of the New York Stock Exchange (“NYSE”).
Investment companies are valued using such company’s NAV per share, unless the shares are exchange-traded, in which case they are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded.
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Debt obligations (including convertible securities) and unlisted equities are fair valued using an evaluated quote provided by an independent pricing service. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices, and may reflect appropriate factors such as institution-size trading in similar groups of securities, developments related to specific securities, dividend rate (for unlisted equities), yield (for debt obligations), quality, type of issue, coupon rate (for debt obligations), maturity (for debt obligations), individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Pricing services generally value debt obligations assuming orderly transactions of institutional round lot size, but a Fund may hold or transact in the same securities in smaller, odd lot sizes. Odd lots often trade at lower prices than institutional round lots. Debt obligations are subject to interest rate and credit risks. In addition, all debt obligations involve some risk of default with respect to interest and/or principal payments.
Foreign securities’ (including foreign exchange contracts’) prices are converted into U.S. dollar amounts using the applicable exchange rates as of the close of the London world markets. If market quotations are available and reliable for foreign exchange-traded equity securities, the securities will be valued at the market quotations. Because trading hours for certain foreign securities end before the close of the NYSE, closing market quotations may become unreliable. If between the time trading ends on a particular security and the close of the customary trading session on the NYSE, events occur that Invesco Capital Management LLC (the “Adviser”) determines are significant and make the closing price unreliable, a Fund may fair value the security. If the event is likely to have affected the closing price of the security, the security will be valued at fair value in good faith using procedures approved by the Board of Trustees. Adjustments to closing prices to reflect fair value may also be based on a screening process of an independent pricing service to indicate the degree of certainty, based on historical data, that the closing price in the principal market where a foreign security trades is not the current value as of the close of the NYSE. Foreign securities’ prices meeting the approved degree of certainty that the price is not reflective of current value will be priced at the indication of fair value from the independent pricing service. Multiple factors may be considered by the independent pricing service in determining adjustments to reflect fair value and may include information relating to sector indices, American Depositary Receipts and domestic and foreign index futures. Foreign securities may have additional risks including exchange rate changes, the potential for sharply devalued currencies and high inflation, political and economic upheaval, the relative lack of issuer information, relatively low market liquidity and the potential lack of strict financial and accounting controls and standards.
Securities for which market prices are not provided by any of the above methods may be valued based upon quotes furnished by independent sources. The last bid price may be used to value exchange-traded equity securities. The mean between the last bid and asked prices may be used to value debt obligations, including corporate loans, and unlisted equity securities.
Securities for which market quotations are not readily available or became unreliable are valued at fair value as determined in good faith following procedures approved by the Board of Trustees. Issuer-specific events, market trends, bid/asked quotes of brokers and information providers and other market data may be reviewed in the course of making a good faith determination of a security’s fair value.
Each Fund may invest in securities that are subject to interest rate risk, meaning the risk that the prices will generally fall as interest rates rise and, conversely, the prices will generally rise as interest rates fall. Specific securities differ in their sensitivity to changes in interest rates depending on their individual characteristics. Changes in interest rates may result in increased market volatility, which may affect the value and/or liquidity of certain Fund investments.
Valuations change in response to many factors, including the historical and prospective earnings of the issuer, the value of the issuer’s assets, general market conditions which are not specifically related to the particular issuer, such as real or perceived adverse economic conditions, changes in the general outlook for revenues or corporate earnings, changes in interest or currency rates, regional or global instability, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or adverse investor sentiment generally and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
B. |
Investment Transactions and Investment Income - Investment transactions are accounted for on a trade date basis. Realized gains and losses from the sale or disposition of securities are computed on the specific identified cost basis. Interest income is recorded on an accrual basis from settlement date and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Pay-in-kind interest income and non-cash dividend income received in the form of securities in-lieu of cash are recorded at the fair value of the securities received. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. 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 |
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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 each 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 each Fund’s NAV and, accordingly, they reduce each 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 and the country that has the primary market for the issuer’s securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. |
Dividends and Distributions to Shareholders - Each Fund (except Defensive Equity ETF) declares and pays dividends from net investment income, if any, to its shareholders quarterly and records such dividends on the ex-dividend date. Defensive Equity ETF declares and pays dividends from net investment income, if any, to its shareholders annually and records such dividends on the ex-dividend date. In addition, the Funds intend to distribute any capital gains to shareholders as capital gain dividends at least annually. 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 or period-end. |
E. |
Federal Income Taxes - Each Fund intends to comply with the provisions of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), applicable to regulated investment companies and to distribute substantially all of the Fund’s taxable earnings to its shareholders. As such, the Funds will not be subject to federal income taxes on otherwise taxable income (including net realized gains) that is distributed to the shareholders. Therefore, no provision for federal income taxes is recorded in the financial statements. |
Each Fund recognizes the tax benefits of uncertain tax positions only when the position is more likely than not to be sustained. Management has analyzed each Fund’s uncertain tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.
Income and capital gain distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily due to differing book and tax treatments for in-kind transactions, losses deferred due to wash sales, and passive foreign investment company adjustments, if any.
The Funds file U.S. federal tax returns and tax returns in certain other jurisdictions. Generally, a Fund is subject to examinations by such taxing authorities for up to three years after the filing of the return for the tax period.
F. |
Expenses - Each Fund (except Defensive Equity ETF) 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 each Fund (except Defensive Equity ETF), including the cost of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory Agreement, (ii) the election of any Board member who is an “interested person” of the Trust, or (iii) any other matters that directly benefit the Adviser). |
Defensive Equity ETF is responsible for all of its expenses, including the investment advisory fees, costs of transfer agency, custody, fund administration, legal, audit and other services, interest, taxes, acquired fund fees and expenses, if any, brokerage commissions and other expenses connected with executions of portfolio transactions, sub-licensing fees related to its Underlying Index, any distribution fees or expenses, litigation expenses, fees payable to the Trust’s Board members who are not “interested persons” (as defined in the 1940 Act) of the Trust or the Adviser (the “Independent Trustees”), expenses incurred in connection with the Board members’ services, including travel expenses and legal fees of counsel for the Independent Trustees, and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i)
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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 (if applicable) 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 (if applicable) 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 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 received on cash collateral investments for securities lending transactions, which are net of compensation to counterparties, are included in Securities lending income on the Statements of Operations. The aggregate value of securities out on loan, if any, is shown on the Statements of Assets and Liabilities. |
On September 14, 2021, the Board of Trustees appointed Invesco Advisers, Inc. (“Invesco”), an affiliate of the Adviser, to serve as an affiliated securities lending agent for each Fund participating in the securities lending program. The Bank of New York Mellon (“BNYM”) also continues to serve as a lending agent. Prior to September 14, 2021, BNYM served as the sole securities lending agent for each Fund under the securities lending program. To the extent a Fund utilizes Invesco as an affiliated securities lending agent, the Fund conducts its securities lending in accordance with, and in reliance upon, no-action letters issued by the SEC staff that provide guidance on how an affiliate may act as a direct agent lender and receive compensation for those services in a manner consistent with the federal securities laws. For the period September 14, 2021 through February 28, 2022, each Fund had affiliated securities lending transactions with Invesco. Fees paid to Invesco by each Fund were less than $500.
J. |
Other Risks |
ADR and GDR Risk. Certain Funds may invest in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). ADRs are certificates that evidence ownership of shares of a foreign issuer and are alternatives to purchasing the underlying foreign securities directly in their national markets and currencies. GDRs are certificates issued by an international bank that generally are traded and denominated in the currencies of countries other than the home country of the issuer of the underlying shares. ADRs and GDRs may be subject to certain of the risks associated with direct investments in the
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securities of foreign companies, such as currency, political, economic and market risks, because their values depend on the performance of the non-dollar denominated underlying foreign securities. Moreover, ADRs and GDRs may not track the price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets are not open for trading.
Authorized Participant Concentration Risk. Only authorized participants (“APs”) may engage in creation or redemption transactions directly with each Fund. Each Fund has a limited number of institutions that may act as APs, and such APs have no obligation to submit creation or redemption orders. Consequently, there is no assurance that APs will establish or maintain an active trading market for the Shares. This risk may be heightened to the extent that securities held by each Fund are traded outside a collateralized settlement system. In that case, APs may be required to post collateral on certain trades on an agency basis (i.e., on behalf of other market participants), which only a limited number of APs may be able to do. In addition, to the extent that APs exit the business or are unable to proceed with creation and/or redemption orders with respect to each Fund and no other AP is able to step forward to create or redeem Creation Units, this may result in a significantly diminished trading market for Fund Shares, and Shares may be more likely to trade at a premium or discount to a Fund’s NAV and to face trading halts and/or delisting. Investments in non-U.S. securities, which may have lower trading volumes, may increase this risk.
China Investment Risk. Investments in companies located or operating in Greater China (normally considered to be the geographical area that includes mainland China, Hong Kong, Macau and Taiwan) involve risks and considerations not typically associated with investments in the U.S. and other Western nations, such as greater government control over the economy; political, legal and regulatory uncertainty; nationalization, expropriation, or confiscation of property; difficulty in obtaining information necessary for investigations into and/or litigation against Chinese companies, as well as in obtaining and/or enforcing judgments; limited legal remedies for shareholders; alteration or discontinuation of economic reforms; military conflicts, either internal or with other countries; inflation, currency fluctuations and fluctuations in inflation and interest rates that may have negative effects on the economy and securities markets of Greater China; and Greater China’s dependency on the economies of other Asian countries, many of which are developing countries. Events in any one country within Greater China may impact the other countries in the region or Greater China as a whole. Export growth continues to be a major driver of China’s rapid economic growth. As a result, a reduction in spending on Chinese products and services, the institution of additional tariffs or other trade barriers (or the threat thereof), including as a result of trade tensions between China and the United States, or a downturn in any of the economies of China’s key trading partners may have an adverse impact on the Chinese economy. In addition, actions by the U.S. government, such as delisting of certain Chinese companies from U.S. securities exchanges or otherwise restricting their operations in the U.S., may negatively impact the value of such securities held by a Fund. Further, health events, such as the recent coronavirus outbreak, may cause uncertainty and volatility in the Chinese economy, especially in the consumer discretionary (leisure, retail, gaming, tourism), industrials, and commodities sectors. Additionally, the inability of the Public Company Accounting Oversight Board (“PCAOB”) to inspect audit work papers and practices of PCAOB-registered accounting firms in China with respect to their audit work of U.S. reporting companies may impose significant additional risks associated with investments in China.
From time to time, certain companies in which a Fund invests may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. Government and the United Nations and/or in countries the U.S. Government identified as state sponsors of terrorism. One or more of these companies may be subject to constraints under U.S. law or regulations that could negatively affect the company’s performance. Additionally, one or more of these companies could suffer damage to its reputation if the market identifies it as a company that invests or deals with countries that the U.S. Government identifies as state sponsors of terrorism or subjects to sanctions. Investments in Chinese companies may be made through a special structure known as a variable interest entity (“VIE”) that is designed to provide foreign investors, such as the Fund, with exposure to Chinese companies that operate in certain sectors in which China restricts or prohibits foreign investments. Investments in VIEs may pose additional risks because the investment is made through an intermediary shell company that has entered into service and other contracts with the underlying Chinese operating company in order to provide investors with exposure to the operating company, but does not represent equity ownership in the operating company. The value of the shell company is derived from its ability to consolidate the VIE into its financials pursuant to contractual arrangements that allow the shell company to exert a degree of control over, and obtain economic benefits arising from, the VIE without formal legal ownership. The contractual arrangements between the shell company and the operating company may not be as effective in providing operational control as direct equity ownership, and a foreign investor’s (such as the Fund’s) rights may be limited, including by actions of the Chinese government which could determine that the underlying contractual arrangements are invalid. While VIEs are a longstanding industry practice and are well known by Chinese officials and regulators, the structure has not been formally recognized under Chinese law and it is uncertain whether Chinese officials or regulators will withdraw their implicit acceptance of the structure. It is also uncertain whether the contractual arrangements, which may be subject to conflicts of interest between the legal owners of the VIE and foreign investors, would be enforced by Chinese courts or arbitration bodies. Prohibitions of these structures by the Chinese government, or the inability to enforce such contracts, from which the shell company derives its value, would likely cause the VIE-structured holding(s) to suffer significant, detrimental, and possibly permanent loss, and in turn, adversely affect the Fund’s returns and net asset value.
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Currency Risk. Because each Fund’s NAV is determined in U.S. dollars, a Fund’s NAV could decline if the currency of a non-U.S. market in which the Fund invests depreciates against the U.S. dollar. Generally, an increase in the value of the U.S. dollar against a foreign currency will reduce the value of a security denominated in that foreign currency, thereby decreasing a Fund’s overall NAV. Exchange rates may be volatile and may change quickly and unpredictably in response to both global economic developments and economic conditions, causing an adverse impact on a Fund. As a result, investors have the potential for losses regardless of the length of time they intend to hold Shares.
Emerging Markets Investment Risk. For certain Funds, investments in the securities of issuers in emerging market countries involve risks often not associated with investments in the securities of issuers in developed countries. Securities in emerging markets may be subject to greater price fluctuations than securities in more developed markets. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting, accounting, auditing and recordkeeping standards than companies in more developed countries. In addition, information about such companies may be less available and reliable. Emerging markets usually are subject to greater market volatility, political, social and economic instability, uncertainty regarding the existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Securities law in many emerging market countries is relatively new and unsettled. Therefore, laws regarding foreign investment in emerging markets securities, securities regulation, title to securities, and shareholder rights may change quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions, may be limited. In addition, the enforcement of systems of taxation at federal, regional and local levels in emerging market countries may be inconsistent and subject to sudden change. Investments in emerging market securities may be subject to additional transaction costs, delays in settlement procedures, unexpected market closures, and lack of timely information. In addition, lack of relevant data and reliable public information, including financial information, about securities in emerging markets may contribute to incorrect weightings and data and computational errors when a Fund’s index provider selects securities for inclusion in the Fund’s Underlying Index or rebalances the Underlying Index.
Equity Risk. Equity risk is the risk that the value of equity securities, including common stocks, may fall due to both changes in general economic conditions that impact the market as a whole, as well as factors that directly relate to a specific company or its industry. Such general economic conditions include changes in interest rates, periods of market turbulence or instability, or general and prolonged periods of economic decline and cyclical change. It is possible that a drop in the stock market may depress the price of most or all of the common stocks that each Fund holds. In addition, equity risk includes the risk that investor sentiment toward one or more industries will become negative, resulting in those investors exiting their investments in those industries, which could cause a reduction in the value of companies in those industries more broadly. The value of a company’s common stock may fall solely because of factors, such as an increase in production costs that negatively impact other companies in the same region, industry or sector of the market. A company’s common stock also may decline significantly in price over a short period of time due to factors specific to that company, including decisions made by its management or lower demand for the company’s products or services. For example, an adverse event, such as an unfavorable earnings report or the failure to make anticipated dividend payments, may depress the value of common stock.
Foreign Investment Risk. Investments in the securities of non-U.S. issuers involve risks beyond those associated with investments in U.S. securities. Foreign securities may have relatively low market liquidity, greater market volatility, decreased publicly available information and less reliable financial information about issuers and inconsistent and potentially less stringent accounting, auditing and financial reporting requirements and standards of practice, including recordkeeping standards, comparable to those applicable to domestic issuers. Foreign securities are also subject to the risks of expropriation, nationalization, political instability or other adverse political or economic developments and the difficulty of enforcing obligations in other countries. Investments in foreign securities also may be subject to dividend withholding or confiscatory taxes, currency blockage and/or transfer restrictions and higher transactional costs. If a Fund invests in securities denominated in foreign currencies, fluctuations in the value of the U.S. dollar relative to the values of other currencies may adversely affect investments in foreign securities and may negatively impact the Fund’s returns.
Geographic Concentration Risk. A natural or other disaster could occur in a geographic region in which a Fund invests, which could affect the economy or particular business operations of companies in that specific geographic region and adversely impact the Fund’s investments in the affected region.
Index Risk. Unlike many investment companies, each Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index. Therefore, a Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming. Additionally, each Fund rebalances its portfolio in accordance with its Underlying Index, and, therefore, any changes to the Underlying Index’s rebalance schedule will result in corresponding changes to each Fund’s rebalance schedule.
Industry Concentration Risk. In following its methodology, each Fund’s Underlying Index 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,
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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 the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index. Additionally, natural or environmental disasters, widespread disease or other public health issues, war, acts of terrorism or other events could result in increased premiums or discounts to each Fund’s NAV.
Non-Correlation Risk. Each Fund’s return may not match the return of its corresponding Underlying Index for a number of reasons. For example, each Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of its corresponding Underlying Index. 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.
Portfolio Turnover Risk. Certain Funds may engage in frequent trading of their portfolio securities in connection with the rebalancing or adjustment of their respective Underlying Index. A portfolio turnover rate of 200%, for example, is equivalent to a Fund buying and selling all of its securities two times during the course of a year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs for a Fund. While a high portfolio turnover rate can result in an increase in taxable capital gains distributions to a Fund’s shareholders, a Fund will seek to utilize the in-kind creation and redemption mechanism to minimize the realization of capital gains to the extent possible.
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 Investment Advisory Agreements with the Adviser on behalf of each Fund, pursuant to which the Adviser has overall responsibility for the selection and ongoing monitoring of each Fund’s investments, managing each Fund’s business affairs and providing certain clerical, bookkeeping and other administrative services.
Pursuant to an Investment Advisory Agreement, Defensive Equity ETF accrues daily and pays monthly to the Adviser an annual fee equal to 0.50% of its average daily net assets. The Adviser has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of Defensive Equity ETF (excluding interest expenses, offering costs, brokerage commissions and other trading expenses, taxes, Acquired Fund Fees and Expenses, if applicable, and extraordinary expenses) from exceeding 0.60% of the Fund’s average daily net assets per year (the “Expense Cap”) through at least August 31, 2023.
Pursuant to another Investment Advisory Agreement, each Fund listed below accrues daily and pays monthly to the Adviser an annual unitary management fee. Out of the unitary management fee, the Adviser has agreed to pay for substantially all expenses of the Funds, including the cost of transfer agency, custody, fund administration, legal, audit and other services, except for distribution fees, if any, brokerage expenses, taxes, interest, acquired fund fees and expenses, if any, litigation expenses and other extraordinary expenses, including proxy expenses (except for such proxies related to: (i) changes to the Investment Advisory
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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) | ||
RAFITM Strategic Developed ex-US ETF | 0.23% | |
RAFITM Strategic Emerging Markets ETF | 0.35% | |
RAFITM Strategic US ETF | 0.19% | |
RAFITM Strategic US Small Company ETF | 0.23% |
Further, through at least August 31, 2023, the Adviser has contractually agreed to waive the management fee payable by each Fund in an amount equal to the lesser of: (i) 100% of the net advisory fees earned by the Adviser or an affiliate of the Adviser that are attributable to the Fund’s investments in money market funds that are managed by affiliates of the Adviser and other funds (including ETFs) managed by the Adviser or affiliates of the Adviser or (ii) the management fee available to be waived. These waivers do not apply to a Fund’s investment of cash collateral received for securities lending. There is no guarantee that the Adviser will extend the waiver of these fees past that date. This agreement is not subject to recapture by the Adviser.
For the six months ended February 28, 2022, no fees were waived.
The offering costs excluded from the Expense Cap for Defensive Equity ETF, as applicable, are: (a) initial legal fees pertaining to the Fund’s Shares offered for sale; (b) initial SEC and state registration fees; and (c) initial fees paid to be listed on an exchange.
The fees waived and/or expenses borne by the Adviser for Defensive Equity ETF pursuant to the Expense Cap are subject to recapture by the Adviser up to three years from the date the fees were waived or the expenses were incurred, but no recapture payment will be made by the Fund if it would result in the Fund exceeding (i) the Expense Cap or (ii) the expense cap in effect at the time the fees and/or expenses subject to recapture were waived and/or borne by the Adviser. For the six months ended February 28, 2022, there were no amounts available for potential recapture by the Adviser.
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 Invesco Indexing 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.
For the six months ended February 28, 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:
Defensive Equity ETF | $ | 3,186 | ||
RAFITM Strategic Developed ex-US ETF | 133 | |||
RAFITM Strategic Emerging Markets ETF | 55 | |||
RAFITM Strategic US ETF | 60 | |||
RAFITM Strategic US Small Company ETF | 105 |
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–Additional Valuation Information
GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 – | Prices are determined using quoted prices in an active market for identical assets. | |
Level 2 – | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. |
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Level 3 – | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect a Fund’s own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
The following is a summary of the tiered valuation input levels, as of February 28, 2022, for each Fund (except for Defensive Equity ETF).As of February 28, 2022, all of the securities in Defensive Equity ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
RAFITM Strategic Developed ex-US ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 330,122,423 | $ | - | $ | 13,535 | $ | 330,135,958 | ||||||||
Money Market Funds |
54,158 | 15,207,799 | - | 15,261,957 | ||||||||||||
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Total Investments |
$ | 330,176,581 | $ | 15,207,799 | $ | 13,535 | $ | 345,397,915 | ||||||||
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RAFITM Strategic Emerging Markets ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 13,785,193 | $ | 13,993,339 | $ | 325,426 | $ | 28,103,958 | ||||||||
Money Market Funds |
- | 655,204 | - | 655,204 | ||||||||||||
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Total Investments |
$ | 13,785,193 | $ | 14,648,543 | $ | 325,426 | $ | 28,759,162 | ||||||||
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RAFITM Strategic US ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 205,526,834 | $ | 125,759 | $ | - | $ | 205,652,593 | ||||||||
Money Market Funds |
28,209 | 3,823,859 | - | 3,852,068 | ||||||||||||
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Total Investments |
$ | 205,555,043 | $ | 3,949,618 | $ | - | $ | 209,504,661 | ||||||||
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RAFITM Strategic US Small Company ETF |
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Investments in Securities |
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Common Stocks & Other Equity Interests |
$ | 52,490,054 | $ | - | $ | - | $ | 52,490,054 | ||||||||
Money Market Funds |
33,117 | 5,563,058 | - | 5,596,175 | ||||||||||||
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Total Investments |
$ | 52,523,171 | $ | 5,563,058 | $ | - | $ | 58,086,229 | ||||||||
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A reconciliation of Level 3 investments is presented when a Fund had a significant amount of Level 3 investments at the beginning and/or end of the reporting period in relation to net assets.
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) during the six months ended February 28, 2022:
Change in | ||||||||||||||||||||||||||||||||||||
Accrued | Unrealized | Transfers | Transfers | |||||||||||||||||||||||||||||||||
Value | Purchases | Proceeds | Discounts/ | Realized | Appreciation | into | out of | Value | ||||||||||||||||||||||||||||
08/31/21 | at Cost | from Sales | Premiums | Gain (Loss) | (Depreciation) | Level 3 | Level 3 | 02/28/22 | ||||||||||||||||||||||||||||
RAFITM Strategic Emerging Markets ETF | ||||||||||||||||||||||||||||||||||||
Common Stocks & Other Equity Interests | $– | $81,244 | $(7,043) | $– | $(728) | $(550,084) | $802,037 | $– | $325,426 |
Securities determined to be Level 3 at the end of the reporting period were valued primarily by utilizing quotes from a third-party vendor pricing service. A significant change in third-party pricing information could result in a significantly lower or higher value in Level 3 investments.
NOTE 5–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.
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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 August 31, 2021, as follows:
No expiration | ||||||||||||
Short-Term | Long-Term | Total* | ||||||||||
Defensive Equity ETF |
$ | 51,529,011 | $ | 376,907 | $ | 51,905,918 | ||||||
RAFITM Strategic Developed ex-US ETF |
2,187,226 | 2,558,418 | 4,745,644 | |||||||||
RAFITM Strategic Emerging Markets ETF |
- | 283,081 | 283,081 | |||||||||
RAFITM Strategic US ETF |
1,916,415 | 1,268,820 | 3,185,235 | |||||||||
RAFITM Strategic US Small Company ETF |
1,537,844 | 231,983 | 1,769,827 |
* |
Capital loss carryforwards are reduced for limitations, if any, to the extent required by the Internal Revenue Code and may be further limited depending upon a variety of factors, including the realization of net unrealized gains or losses as of the date of any reorganization. |
NOTE 6–Investment Transactions
For the six months ended February 28, 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 | |||||||
Defensive Equity ETF |
$ | 181,259,470 | $ | 183,470,064 | ||||
RAFITM Strategic Developed ex-US ETF |
9,028,883 | 10,657,726 | ||||||
RAFITM Strategic Emerging Markets ETF |
2,285,553 | 784,931 | ||||||
RAFITM Strategic US ETF |
2,017,678 | 1,810,143 | ||||||
RAFITM Strategic US Small Company ETF |
1,805,331 | 1,453,571 |
For the six months ended February 28, 2022, in-kind transactions associated with creations and redemptions were as follows:
In-kind | In-kind | |||||||
Purchases | Sales | |||||||
Defensive Equity ETF |
$ | 200,816,737 | $ | 203,163,315 | ||||
RAFITM Strategic Developed ex-US ETF |
35,670,491 | 85,748 | ||||||
RAFITM Strategic Emerging Markets ETF |
808,803 | - | ||||||
RAFITM Strategic US ETF |
23,471,398 | - | ||||||
RAFITM Strategic US Small Company ETF |
17,056,264 | 949,613 |
Gains (losses) on in-kind transactions are generally not considered taxable gains (losses) for federal income tax purposes.
At February 28, 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:
Net | ||||||||||||||||
Gross | Gross | Unrealized | ||||||||||||||
Unrealized | Unrealized | Appreciation | ||||||||||||||
Appreciation | (Depreciation) | (Depreciation) | Cost | |||||||||||||
Defensive Equity ETF |
$ | 17,307,782 | $ | (13,909,246 | ) | $ | 3,398,536 | $ | 282,897,627 | |||||||
RAFITM Strategic Developed ex-US ETF |
51,791,419 | (15,689,084 | ) | 36,102,335 | 309,295,580 | |||||||||||
RAFITM Strategic Emerging Markets ETF |
3,451,848 | (5,436,655 | ) | (1,984,807 | ) | 30,743,969 | ||||||||||
RAFITM Strategic US ETF |
45,166,187 | (3,860,015 | ) | 41,306,172 | 168,198,489 | |||||||||||
RAFITM Strategic US Small Company ETF |
5,429,824 | (3,958,758 | ) | 1,471,066 | 56,615,163 |
NOTE 7–Trustees’ and Officer’s Fees
Trustees’ and Officer’s Fees include amounts accrued by the Funds to pay remuneration to the Independent Trustees and an Officer of the Trust. The Adviser, as a result of each Fund’s unitary management fee, pays for such compensation for each Fund (except Defensive Equity ETF). 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
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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 8–Capital
Shares are issued and redeemed by each Fund only in Creation Units consisting of a specified number of Shares as set forth in each Fund’s prospectus. Only Authorized Participants are permitted to purchase or redeem Creation Units from the Funds. Such transactions are principally permitted in exchange for Deposit Securities, with a balancing cash component to equate the transaction to the NAV per Share of a Fund on the transaction date. However, for all Funds, cash in an amount equivalent to the value of certain securities may be substituted, generally when the securities are not available in sufficient quantity for delivery, not eligible for trading by the Authorized Participant or as a result of other market circumstances.
To the extent that the Funds permit transactions in exchange for Deposit Securities, each Fund may issue Shares in advance of receipt of Deposit Securities subject to various conditions, including a requirement to maintain on deposit with the Trust cash at least equal to 105% of the market value of the missing Deposit Securities. In accordance with the Trust’s Participant Agreement, Creation Units will be issued to an Authorized Participant, notwithstanding the fact that the corresponding Deposit Securities have not been received in part or in whole, in reliance on the undertaking of the Authorized Participant to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by the Authorized Participant’s delivery and maintenance of collateral consisting of cash in the form of U.S. dollars in immediately available funds having a value (marked-to-market daily) at least equal to 105%, which the Adviser may change from time to time, of the value of the missing Deposit Securities.
Certain transaction fees may be charged by the Funds for creations and redemptions, which are treated as increases in capital. Transactions in each Fund’s Shares are disclosed in detail in the Statements of Changes in Net Assets.
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Calculating your ongoing Fund expenses
Example
As a shareholder of a Fund of the Invesco Exchange-Traded Self-Indexed Fund Trust (excluding Invesco Defensive Equity ETF), 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). As a shareholder of Invesco Defensive Equity ETF, you incur advisory fees and other Fund expenses. The expense examples below are intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.
The example is based on an investment of $1,000 invested at the beginning of the period and held through the six-month period ended February 28, 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, expenses shown in the table do not include the expenses of the underlying funds, which are borne indirectly by a Fund. If transaction costs and indirect expenses were included, your costs would have been higher.
Beginning Account Value September 1, 2021 |
Ending Account Value February 28, 2022 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) | |||||||||||||||||
Invesco Defensive Equity ETF (DEF) |
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Actual |
$ | 1,000.00 | $ | 985.60 | 0.54 | % | $ | 2.66 | ||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,022.12 | 0.54 | 2.71 | ||||||||||||||||
Invesco RAFITM Strategic Developed ex-US ETF (ISDX) |
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Actual |
1,000.00 | 1,005.10 | 0.23 | 1.14 | ||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,023.65 | 0.23 | 1.15 | ||||||||||||||||
Invesco RAFITM Strategic Emerging Markets ETF (ISEM) |
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Actual |
1,000.00 | 939.40 | 0.35 | 1.68 | ||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,023.06 | 0.35 | 1.76 | ||||||||||||||||
Invesco RAFITM Strategic US ETF (IUS) |
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Actual |
1,000.00 | 1,023.10 | 0.19 | 0.95 | ||||||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,023.85 | 0.19 | 0.95 |
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Calculating your ongoing Fund expenses–(continued)
Beginning Account Value September 1, 2021 |
Ending Account Value February 28, 2022 |
Annualized Expense Ratio Based on the Six-Month Period |
Expenses Paid During the Six-Month Period(1) | |||||||||||||||||
Invesco RAFITM Strategic US Small Company ETF (IUSS) |
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Actual |
$ | 1,000.00 | $ | 948.00 | 0.23 | % | $ | 1.11 | ||||||||||||
Hypothetical (5% return before expenses) |
1,000.00 | 1,023.65 | 0.23 | 1.15 |
(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 February 28, 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 181/365. |
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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.
©2022 Invesco Capital
Management LLC 3500 Lacey Road, Suite 700 |
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Downers Grove, IL 60515 | P-SIFT-SAR-2 | invesco.com/ETFs |