|
|
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|
|
 |
|
Invesco
Semi-Annual Report to Shareholders
|
| |
October
31, 2023
|
|
|
PYZ
|
|
Invesco
Dorsey Wright Basic Materials Momentum ETF (formerly, Invesco DWA Basic
Materials Momentum ETF)
|
|
|
PEZ
|
|
Invesco
Dorsey Wright Consumer Cyclicals Momentum ETF (formerly, Invesco DWA
Consumer Cyclicals Momentum ETF)
|
|
|
PSL
|
|
Invesco
Dorsey Wright Consumer Staples Momentum ETF (formerly, Invesco DWA
Consumer Staples Momentum ETF)
|
|
|
PXI
|
|
Invesco
Dorsey Wright Energy Momentum ETF (formerly, Invesco DWA Energy Momentum
ETF)
|
|
|
PFI
|
|
Invesco
Dorsey Wright Financial Momentum ETF (formerly, Invesco DWA Financial
Momentum ETF)
|
|
|
PTH
|
|
Invesco
Dorsey Wright Healthcare Momentum ETF (formerly, Invesco DWA Healthcare
Momentum ETF)
|
|
|
PRN
|
|
Invesco
Dorsey Wright Industrials Momentum ETF (formerly, Invesco DWA Industrials
Momentum ETF)
|
|
|
PTF
|
|
Invesco
Dorsey Wright Technology Momentum ETF (formerly, Invesco DWA Technology
Momentum ETF)
|
|
|
PUI
|
|
Invesco
Dorsey Wright Utilities Momentum ETF (formerly, Invesco DWA Utilities
Momentum ETF)
|
|
|
PNQI
|
|
Invesco
NASDAQ Internet ETF
|
Table of Contents
Invesco Dorsey Wright Basic Materials
Momentum ETF (PYZ)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.99% |
|
|
Aluminum-1.07% |
|
|
|
|
|
|
|
|
|
Kaiser Aluminum Corp. |
|
|
18,746 |
|
|
$ |
1,064,773 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive Retail-1.69% |
|
|
|
|
|
|
|
|
|
Valvoline, Inc. |
|
|
56,757 |
|
|
|
1,683,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commodity Chemicals-14.51% |
|
|
|
|
|
|
|
|
|
Cabot Corp.(b) |
|
|
26,669 |
|
|
|
1,772,955 |
|
|
Dow, Inc. |
|
|
44,759 |
|
|
|
2,163,650 |
|
|
LyondellBasell Industries N.V., Class A |
|
|
33,003 |
|
|
|
2,978,191 |
|
|
Olin Corp.(b) |
|
|
67,714 |
|
|
|
2,892,742 |
|
|
Orion S.A. (Germany) |
|
|
66,875 |
|
|
|
1,357,563 |
|
|
PureCycle Technologies, Inc.(b)(c) |
|
|
227,351 |
|
|
|
1,011,712 |
|
|
Westlake Corp.(b) |
|
|
19,831 |
|
|
|
2,287,704 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,464,517 |
|
|
|
|
|
|
|
|
|
|
|
Construction Materials-2.42% |
|
|
|
|
|
|
|
|
|
Summit Materials, Inc., Class A(c) |
|
|
73,322 |
|
|
|
2,412,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Copper-2.01% |
|
|
|
|
|
|
|
|
|
Freeport-McMoRan, Inc. |
|
|
59,329 |
|
|
|
2,004,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Chemicals-4.73% |
|
|
|
|
|
|
|
|
|
Chemours Co. (The) |
|
|
71,945 |
|
|
|
1,734,594 |
|
|
Huntsman Corp. |
|
|
73,524 |
|
|
|
1,715,315 |
|
|
LSB Industries, Inc.(b)(c) |
|
|
138,172 |
|
|
|
1,258,747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,708,656 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Metals &
Mining-1.58% |
|
|
|
|
|
|
|
|
|
Materion Corp.(b) |
|
|
16,236 |
|
|
|
1,574,567 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Fertilizers & Agricultural
Chemicals-4.48% |
|
|
|
|
|
|
CF Industries Holdings, Inc.(b) |
|
|
26,916 |
|
|
|
2,147,358 |
|
|
Corteva, Inc. |
|
|
48,126 |
|
|
|
2,316,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,464,144 |
|
|
|
|
|
|
|
|
|
|
|
Forest Products-1.83% |
|
|
|
|
|
|
|
|
|
Louisiana-Pacific Corp. |
|
|
35,572 |
|
|
|
1,824,132 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gold-1.55% |
|
|
|
|
|
|
|
|
|
Royal Gold, Inc.(b) |
|
|
14,782 |
|
|
|
1,542,206 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial Gases-7.21% |
|
|
|
|
|
|
|
|
|
Air Products and Chemicals, Inc. |
|
|
13,400 |
|
|
|
3,784,696 |
|
|
Linde PLC(b) |
|
|
8,891 |
|
|
|
3,397,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,182,481 |
|
|
|
|
|
|
|
|
|
|
|
Metal, Glass & Plastic
Containers-1.60% |
|
|
|
|
|
|
|
|
|
O-I Glass, Inc.(b)(c) |
|
|
103,301 |
|
|
|
1,596,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Paper & Plastic Packaging Products &
Materials-3.57% |
|
|
Avery Dennison Corp. |
|
|
20,449 |
|
|
|
3,559,557 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paper Products-2.00% |
|
|
|
|
|
|
|
|
|
Sylvamo Corp.(b) |
|
|
44,896 |
|
|
|
1,988,893 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Specialty Chemicals-25.91% |
|
|
|
|
|
|
|
|
|
Albemarle Corp.(b) |
|
|
16,616 |
|
|
|
2,106,576 |
|
|
Alto Ingredients, Inc.(b)(c) |
|
|
378,943 |
|
|
|
1,576,403 |
|
|
Avient Corp. |
|
|
65,132 |
|
|
|
2,059,474 |
|
|
Celanese Corp.(b) |
|
|
17,937 |
|
|
|
2,053,966 |
|
|
DuPont de Nemours, Inc. |
|
|
30,292 |
|
|
|
2,207,681 |
|
|
Ecolab, Inc. |
|
|
12,292 |
|
|
|
2,061,860 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Specialty Chemicals-(continued) |
|
|
|
|
|
|
|
|
|
Ecovyst, Inc.(b)(c) |
|
|
137,244 |
|
|
$ |
1,262,645 |
|
|
Element Solutions, Inc.(b) |
|
|
91,929 |
|
|
|
1,675,866 |
|
|
H.B. Fuller Co.(b) |
|
|
25,795 |
|
|
|
1,706,339 |
|
|
Innospec, Inc. |
|
|
15,670 |
|
|
|
1,535,660 |
|
|
NewMarket Corp. |
|
|
4,029 |
|
|
|
1,942,582 |
|
|
PPG Industries, Inc. |
|
|
16,084 |
|
|
|
1,974,633 |
|
|
Quaker Chemical Corp.(b) |
|
|
10,167 |
|
|
|
1,461,201 |
|
|
RPM International, Inc.(b) |
|
|
24,057 |
|
|
|
2,195,682 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,820,568 |
|
|
|
|
|
|
|
|
|
|
|
Steel-20.36% |
|
|
|
|
|
|
|
|
|
ATI, Inc.(b)(c) |
|
|
62,456 |
|
|
|
2,358,963 |
|
|
Carpenter Technology Corp. |
|
|
38,786 |
|
|
|
2,432,658 |
|
|
Commercial Metals Co. |
|
|
49,569 |
|
|
|
2,096,273 |
|
|
Nucor Corp. |
|
|
22,707 |
|
|
|
3,355,867 |
|
|
Reliance Steel & Aluminum Co. |
|
|
14,389 |
|
|
|
3,660,274 |
|
|
Ryerson Holding Corp.(b) |
|
|
53,099 |
|
|
|
1,542,526 |
|
|
Steel Dynamics, Inc. |
|
|
31,429 |
|
|
|
3,347,503 |
|
|
Worthington Industries, Inc. |
|
|
24,322 |
|
|
|
1,498,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,292,786 |
|
|
|
|
|
|
|
|
|
|
|
Timber REITs-3.47% |
|
|
|
|
|
|
|
|
|
PotlatchDeltic Corp.(b) |
|
|
35,558 |
|
|
|
1,523,660 |
|
|
Weyerhaeuser Co.(b) |
|
|
67,432 |
|
|
|
1,934,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,458,284 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $101,723,740) |
|
|
|
99,641,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.14% |
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$144,602) |
|
|
144,602 |
|
|
|
144,602 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.13%
(Cost
$101,868,342) |
|
|
|
99,786,574 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with
Cash Collateral from Securities on Loan |
|
|
|
|
Money Market Funds-24.43% |
|
|
|
|
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
6,890,961 |
|
|
|
6,890,961 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
17,454,843 |
|
|
|
17,456,588 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $24,347,610) |
|
|
|
24,347,549 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-124.56%
(Cost
$126,215,952) |
|
|
|
124,134,123 |
|
|
OTHER ASSETS LESS LIABILITIES-(24.56)% |
|
|
|
(24,478,526 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
|
|
|
$ |
99,655,597 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Basic Materials Momentum ETF
(PYZ)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. (c) Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
180,435 |
|
|
|
$ |
1,770,660 |
|
|
|
$ |
(1,806,493 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
144,602 |
|
|
|
$ |
5,646 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
5,834,163 |
|
|
|
|
43,034,305 |
|
|
|
|
(41,977,507 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
6,890,961 |
|
|
|
|
132,734 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
15,002,132 |
|
|
|
|
88,190,455 |
|
|
|
|
(85,736,691 |
) |
|
|
|
268 |
|
|
|
|
424 |
|
|
|
|
17,456,588 |
|
|
|
|
356,234 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
21,016,730 |
|
|
|
$ |
132,995,420 |
|
|
|
$ |
(129,520,691 |
) |
|
|
$ |
268 |
|
|
|
$ |
424 |
|
|
|
$ |
24,492,151 |
|
|
|
$ |
494,614 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Specialty Chemicals |
|
|
25.91 |
|
|
|
|
|
|
|
|
|
Steel |
|
|
20.36 |
|
|
|
|
|
|
|
|
|
Commodity Chemicals |
|
|
14.51 |
|
|
|
|
|
|
|
|
|
Industrial Gases |
|
|
7.21 |
|
|
|
|
|
|
|
|
|
Diversified Chemicals |
|
|
4.73 |
|
|
|
|
|
|
|
|
|
Fertilizers & Agricultural Chemicals |
|
|
4.48 |
|
|
|
|
|
|
|
|
|
Paper & Plastic Packaging
Products &
Materials |
|
|
3.57 |
|
|
|
|
|
|
|
|
|
Timber REITs |
|
|
3.47 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
15.75 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.01 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Consumer
Cyclicals Momentum ETF (PEZ)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-100.14% |
|
|
Apparel Retail-6.62% |
|
|
|
|
|
|
|
|
|
Abercrombie & Fitch Co., Class A(b)(c) |
|
|
12,854 |
|
|
$ |
781,780 |
|
|
Guess?, Inc. |
|
|
13,948 |
|
|
|
299,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,081,662 |
|
|
|
|
|
|
|
|
|
|
|
Automotive Parts &
Equipment-2.83% |
|
|
|
|
|
|
|
|
|
Modine Manufacturing Co.(b) |
|
|
11,698 |
|
|
|
462,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Automotive Retail-12.11% |
|
|
|
|
|
|
|
|
|
AutoNation, Inc.(b)(c) |
|
|
4,572 |
|
|
|
594,726 |
|
|
Carvana Co.(b)(c) |
|
|
8,843 |
|
|
|
238,761 |
|
|
Group 1 Automotive, Inc.(c) |
|
|
1,841 |
|
|
|
464,539 |
|
|
Penske Automotive Group, Inc. |
|
|
4,745 |
|
|
|
678,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,976,941 |
|
|
|
|
|
|
|
|
|
|
|
Broadline Retail-3.00% |
|
|
|
|
|
|
|
|
|
Groupon, Inc.(b)(c) |
|
|
38,323 |
|
|
|
490,151 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Casinos & Gaming-3.76% |
|
|
|
|
|
|
|
|
|
DraftKings, Inc., Class A(b) |
|
|
22,251 |
|
|
|
614,573 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Education Services-3.65% |
|
|
|
|
|
|
|
|
|
Duolingo, Inc.(b)(c) |
|
|
4,078 |
|
|
|
595,592 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Footwear-4.14% |
|
|
|
|
|
|
|
|
|
Deckers Outdoor Corp.(b)(c) |
|
|
1,131 |
|
|
|
675,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Improvement Retail-3.05% |
|
|
|
|
|
|
|
|
|
Lowe’s Cos., Inc. |
|
|
2,617 |
|
|
|
498,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Homebuilding-34.74% |
|
|
|
|
|
|
|
|
|
Century Communities, Inc.(c) |
|
|
3,504 |
|
|
|
215,496 |
|
|
D.R. Horton, Inc. |
|
|
4,708 |
|
|
|
491,515 |
|
|
Hovnanian Enterprises, Inc., Class A(b) |
|
|
2,782 |
|
|
|
193,293 |
|
|
Installed Building Products, Inc.(c) |
|
|
2,713 |
|
|
|
302,961 |
|
|
KB Home |
|
|
10,786 |
|
|
|
476,741 |
|
|
Lennar Corp., Class A |
|
|
4,463 |
|
|
|
476,113 |
|
|
M.D.C. Holdings, Inc. |
|
|
7,233 |
|
|
|
274,492 |
|
|
M/I Homes, Inc.(b)(c) |
|
|
4,531 |
|
|
|
371,859 |
|
|
Meritage Homes Corp. |
|
|
2,703 |
|
|
|
308,196 |
|
|
NVR, Inc.(b) |
|
|
101 |
|
|
|
546,675 |
|
|
PulteGroup, Inc. |
|
|
7,530 |
|
|
|
554,133 |
|
|
Taylor Morrison Home Corp., Class A(b) |
|
|
8,396 |
|
|
|
321,735 |
|
|
Toll Brothers, Inc.(c) |
|
|
7,902 |
|
|
|
558,750 |
|
|
TopBuild Corp.(b) |
|
|
1,255 |
|
|
|
287,094 |
|
|
Tri Pointe Homes, Inc.(b)(c) |
|
|
11,759 |
|
|
|
294,681 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,673,734 |
|
|
|
|
|
|
|
|
|
|
|
Hotels, Resorts & Cruise
Lines-12.11% |
|
|
|
|
|
|
|
|
|
Booking Holdings, Inc.(b) |
|
|
169 |
|
|
|
471,436 |
|
|
Hilton Worldwide Holdings, Inc. |
|
|
3,313 |
|
|
|
502,019 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Hotels, Resorts & Cruise
Lines-(continued) |
|
|
|
|
|
|
Marriott International, Inc., Class A |
|
|
2,798 |
|
|
$ |
527,591 |
|
|
Royal Caribbean Cruises Ltd.(b) |
|
|
5,629 |
|
|
|
476,945 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,977,991 |
|
|
|
|
|
|
|
|
|
|
|
Other Specialty Retail-4.72% |
|
|
|
|
|
|
|
|
|
Signet Jewelers Ltd.(c) |
|
|
6,700 |
|
|
|
467,861 |
|
|
Winmark Corp. |
|
|
750 |
|
|
|
302,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
770,351 |
|
|
|
|
|
|
|
|
|
|
|
Passenger Airlines-2.49% |
|
|
|
|
|
|
|
|
|
SkyWest, Inc.(b)(c) |
|
|
9,661 |
|
|
|
407,404 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restaurants-2.76% |
|
|
|
|
|
|
|
|
|
DoorDash, Inc., Class A(b) |
|
|
6,010 |
|
|
|
450,449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Specialized Consumer Services-1.58% |
|
|
|
|
|
|
|
|
|
Rover Group, Inc.(b) |
|
|
39,966 |
|
|
|
257,781 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading Companies &
Distributors-2.58% |
|
|
|
|
|
|
|
|
|
Beacon Roofing Supply, Inc.(b) |
|
|
5,925 |
|
|
|
421,682 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $16,968,373) |
|
|
|
16,354,379 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.68% |
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$111,665) |
|
|
111,665 |
|
|
|
111,665 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.82%
(Cost
$17,080,038) |
|
|
|
16,466,044 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with
Cash Collateral from Securities on Loan |
|
|
|
|
Money Market Funds-24.94% |
|
|
|
|
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
1,140,388 |
|
|
|
1,140,388 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
2,932,537 |
|
|
|
2,932,830 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,073,193) |
|
|
|
4,073,218 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-125.76%
(Cost
$21,153,231) |
|
|
|
20,539,262 |
|
|
OTHER ASSETS LESS LIABILITIES-(25.76)% |
|
|
|
(4,207,605 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00% |
|
|
|
|
|
$ |
16,331,657 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Consumer Cyclicals Momentum ETF
(PEZ)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
Non-income producing security.
|
| (c) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
144,833 |
|
|
|
$ |
174,635 |
|
|
|
$ |
(207,803 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
111,665 |
|
|
|
$ |
3,795 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
1,999,085 |
|
|
|
|
17,375,274 |
|
|
|
|
(18,233,971 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
1,140,388 |
|
|
|
|
39,400 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
5,121,565 |
|
|
|
|
33,264,205 |
|
|
|
|
(35,453,234 |
) |
|
|
|
69 |
|
|
|
|
225 |
|
|
|
|
2,932,830 |
|
|
|
|
105,264 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
7,265,483 |
|
|
|
$ |
50,814,114 |
|
|
|
$ |
(53,895,008 |
) |
|
|
$ |
69 |
|
|
|
$ |
225 |
|
|
|
$ |
4,184,883 |
|
|
|
$ |
148,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Homebuilding |
|
|
34.74 |
|
|
|
|
|
|
|
|
|
Hotels, Resorts & Cruise Lines |
|
|
12.11 |
|
|
|
|
|
|
|
|
|
Automotive Retail |
|
|
12.11 |
|
|
|
|
|
|
|
|
|
Apparel Retail |
|
|
6.62 |
|
|
|
|
|
|
|
|
|
Other Specialty Retail |
|
|
4.72 |
|
|
|
|
|
|
|
|
|
Footwear |
|
|
4.14 |
|
|
|
|
|
|
|
|
|
Casinos & Gaming |
|
|
3.76 |
|
|
|
|
|
|
|
|
|
Education Services |
|
|
3.65 |
|
|
|
|
|
|
|
|
|
Home Improvement Retail |
|
|
3.05 |
|
|
|
|
|
|
|
|
|
Broadline Retail |
|
|
3.00 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
12.24 |
|
|
|
|
|
|
|
|
|
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.
Invesco Dorsey Wright Consumer Staples
Momentum ETF (PSL)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.94% |
|
|
Agricultural Products &
Services-5.86% |
|
|
Bunge Ltd. |
|
|
28,642 |
|
|
$ |
3,035,479 |
|
|
Ingredion, Inc. |
|
|
14,634 |
|
|
|
1,369,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,404,929 |
|
|
|
|
|
|
|
|
|
|
|
Brewers-3.15% |
|
|
|
|
|
|
|
|
|
Molson Coors Beverage Co., Class B |
|
|
40,980 |
|
|
|
2,367,415 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Staples Merchandise
Retail-5.53% |
|
|
|
|
|
|
Costco Wholesale Corp. |
|
|
7,527 |
|
|
|
4,158,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distillers & Vintners-1.98% |
|
|
|
|
|
|
|
|
|
MGP Ingredients, Inc.(b) |
|
|
15,731 |
|
|
|
1,489,096 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Education Services-3.71% |
|
|
|
|
|
|
|
|
|
Laureate Education, Inc., Class A(b) |
|
|
103,858 |
|
|
|
1,468,552 |
|
|
Perdoceo Education Corp. |
|
|
73,269 |
|
|
|
1,325,436 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,793,988 |
|
|
|
|
|
|
|
|
|
|
|
Food Distributors-9.86% |
|
|
|
|
|
|
|
|
|
Andersons, Inc. (The) |
|
|
34,423 |
|
|
|
1,725,625 |
|
|
Performance Food Group Co.(c) |
|
|
45,433 |
|
|
|
2,624,210 |
|
|
US Foods Holding Corp.(c) |
|
|
78,746 |
|
|
|
3,066,369 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,416,204 |
|
|
|
|
|
|
|
|
|
|
|
Food Retail-6.38% |
|
|
|
|
|
|
|
|
|
Casey’s General Stores, Inc. |
|
|
10,010 |
|
|
|
2,721,819 |
|
|
Sprouts Farmers Market, Inc.(b)(c) |
|
|
49,352 |
|
|
|
2,073,771 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,795,590 |
|
|
|
|
|
|
|
|
|
|
|
Household Appliances-1.73% |
|
|
|
|
|
|
|
|
|
Helen of Troy Ltd.(b)(c) |
|
|
13,220 |
|
|
|
1,299,790 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Household Products-6.05% |
|
|
|
|
|
|
|
|
|
Procter & Gamble Co. (The) |
|
|
20,517 |
|
|
|
3,078,165 |
|
|
WD-40 Co.(b) |
|
|
6,949 |
|
|
|
1,469,019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,547,184 |
|
|
|
|
|
|
|
|
|
|
|
Packaged Foods & Meats-18.97% |
|
|
|
|
|
|
|
|
|
Freshpet, Inc.(b)(c) |
|
|
23,856 |
|
|
|
1,369,334 |
|
|
Hershey Co. (The) |
|
|
15,749 |
|
|
|
2,950,575 |
|
|
JM Smucker Co. (The) |
|
|
15,203 |
|
|
|
1,730,710 |
|
|
Kraft Heinz Co. (The) |
|
|
64,528 |
|
|
|
2,030,051 |
|
|
Lamb Weston Holdings, Inc. |
|
|
29,089 |
|
|
|
2,612,192 |
|
|
Mondelez International, Inc., Class A |
|
|
33,149 |
|
|
|
2,194,795 |
|
|
Post Holdings, Inc.(b)(c) |
|
|
17,159 |
|
|
|
1,377,525 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,265,182 |
|
|
|
|
|
|
|
|
|
|
|
Personal Care Products-12.53% |
|
|
|
|
|
|
|
|
|
BellRing Brands, Inc.(b)(c) |
|
|
45,626 |
|
|
|
1,995,225 |
|
|
Coty, Inc., Class A(c) |
|
|
154,855 |
|
|
|
1,450,991 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Personal Care Products-(continued) |
|
|
|
|
|
|
|
|
|
e.l.f. Beauty, Inc.(b)(c) |
|
|
39,428 |
|
|
$ |
3,652,216 |
|
|
Inter Parfums, Inc. |
|
|
18,260 |
|
|
|
2,321,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,419,461 |
|
|
|
|
|
|
|
|
|
|
|
Soft Drinks & Non-alcoholic
Beverages-16.15% |
|
|
|
|
|
|
Celsius Holdings, Inc.(b)(c) |
|
|
20,564 |
|
|
|
3,127,579 |
|
|
Coca-Cola Consolidated, Inc. |
|
|
4,589 |
|
|
|
2,920,486 |
|
|
Monster Beverage Corp.(c) |
|
|
44,484 |
|
|
|
2,273,132 |
|
|
National Beverage Corp.(b)(c) |
|
|
27,613 |
|
|
|
1,280,691 |
|
|
PepsiCo, Inc. |
|
|
15,589 |
|
|
|
2,545,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,147,260 |
|
|
|
|
|
|
|
|
|
|
|
Specialized Consumer Services-8.04% |
|
|
|
|
|
|
|
|
|
H&R Block, Inc.(b) |
|
|
55,618 |
|
|
|
2,283,119 |
|
|
Service Corp. International(b) |
|
|
47,941 |
|
|
|
2,608,949 |
|
|
WW International, Inc.(b)(c) |
|
|
147,469 |
|
|
|
1,153,208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,045,276 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $73,191,054) |
|
|
|
75,149,591 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.31% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$228,835) |
|
|
228,835 |
|
|
|
228,835 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.25%
(Cost
$73,419,889) |
|
|
|
75,378,426 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-21.86% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
4,602,309 |
|
|
|
4,602,309 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
11,836,797 |
|
|
|
11,837,981 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $16,440,131) |
|
|
|
16,440,290 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-122.11%
(Cost
$89,860,020) |
|
|
|
91,818,716 |
|
|
OTHER ASSETS LESS LIABILITIES-(22.11)% |
|
|
|
(16,623,591 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
$ |
75,195,125 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Consumer Staples Momentum ETF
(PSL)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (c) |
Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
146,579 |
|
|
|
$ |
1,833,215 |
|
|
|
$ |
(1,750,959 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
228,835 |
|
|
|
$ |
5,210 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
3,940,344 |
|
|
|
|
48,742,487 |
|
|
|
|
(48,080,522 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
4,602,309 |
|
|
|
|
105,291 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
10,132,313 |
|
|
|
|
77,991,673 |
|
|
|
|
(76,286,522 |
) |
|
|
|
174 |
|
|
|
|
343 |
|
|
|
|
11,837,981 |
|
|
|
|
279,755 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
14,219,236 |
|
|
|
$ |
128,567,375 |
|
|
|
$ |
(126,118,003 |
) |
|
|
$ |
174 |
|
|
|
$ |
343 |
|
|
|
$ |
16,669,125 |
|
|
|
$ |
390,256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Packaged Foods & Meats |
|
|
18.97 |
|
|
|
|
|
|
|
|
|
Soft Drinks & Non-alcoholic Beverages |
|
|
16.15 |
|
|
|
|
|
|
|
|
|
Personal Care Products |
|
|
12.53 |
|
|
|
|
|
|
|
|
|
Food Distributors |
|
|
9.86 |
|
|
|
|
|
|
|
|
|
Specialized Consumer Services |
|
|
8.04 |
|
|
|
|
|
|
|
|
|
Food Retail |
|
|
6.38 |
|
|
|
|
|
|
|
|
|
Household Products |
|
|
6.05 |
|
|
|
|
|
|
|
|
|
Agricultural Products & Services |
|
|
5.86 |
|
|
|
|
|
|
|
|
|
Consumer Staples Merchandise Retail |
|
|
5.53 |
|
|
|
|
|
|
|
|
|
Education Services |
|
|
3.71 |
|
|
|
|
|
|
|
|
|
Brewers |
|
|
3.15 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
3.71 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.06 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Energy Momentum
ETF (PXI)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.93% |
|
|
Coal & Consumable Fuels-1.79% |
|
|
CONSOL Energy, Inc.(b) |
|
|
22,215 |
|
|
$ |
2,041,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Drilling-7.34% |
|
|
|
|
|
|
|
|
|
Diamond Offshore Drilling, Inc.(c) |
|
|
172,709 |
|
|
|
2,143,319 |
|
|
Transocean Ltd.(b)(c) |
|
|
508,738 |
|
|
|
3,367,846 |
|
|
Valaris Ltd.(c) |
|
|
43,013 |
|
|
|
2,840,578 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,351,743 |
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Equipment &
Services-28.40% |
|
|
|
|
|
|
|
|
|
Archrock, Inc. |
|
|
132,491 |
|
|
|
1,678,661 |
|
|
Baker Hughes Co., Class A |
|
|
77,349 |
|
|
|
2,662,352 |
|
|
ChampionX Corp.(b) |
|
|
76,641 |
|
|
|
2,360,543 |
|
|
Expro Group Holdings N.V.(c) |
|
|
94,184 |
|
|
|
1,483,398 |
|
|
Halliburton Co. |
|
|
65,447 |
|
|
|
2,574,685 |
|
|
Helix Energy Solutions Group, Inc.(b)(c) |
|
|
278,520 |
|
|
|
2,729,496 |
|
|
Oceaneering International, Inc.(b)(c) |
|
|
106,701 |
|
|
|
2,346,355 |
|
|
RPC, Inc. |
|
|
170,646 |
|
|
|
1,419,775 |
|
|
Schlumberger N.V |
|
|
46,565 |
|
|
|
2,591,808 |
|
|
Tidewater, Inc.(b)(c) |
|
|
50,898 |
|
|
|
3,478,878 |
|
|
Weatherford International PLC(b)(c) |
|
|
96,829 |
|
|
|
9,013,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,339,763 |
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Exploration &
Production-30.31% |
|
|
|
|
|
|
APA Corp. |
|
|
58,388 |
|
|
|
2,319,171 |
|
|
California Resources Corp.(b) |
|
|
33,582 |
|
|
|
1,766,077 |
|
|
Civitas Resources, Inc.(b) |
|
|
57,202 |
|
|
|
4,314,747 |
|
|
CNX Resources Corp.(b)(c) |
|
|
87,440 |
|
|
|
1,899,197 |
|
|
ConocoPhillips(b) |
|
|
37,061 |
|
|
|
4,402,847 |
|
|
Murphy Oil Corp. |
|
|
88,205 |
|
|
|
3,957,758 |
|
|
Northern Oil and Gas, Inc.(b) |
|
|
80,581 |
|
|
|
3,089,476 |
|
|
Permian Resources Corp.(b) |
|
|
246,695 |
|
|
|
3,594,346 |
|
|
SilverBow Resources, Inc.(c) |
|
|
44,180 |
|
|
|
1,506,538 |
|
|
Texas Pacific Land Corp.(b) |
|
|
2,370 |
|
|
|
4,374,902 |
|
|
Vital Energy, Inc.(c) |
|
|
33,642 |
|
|
|
1,683,446 |
|
|
Vitesse Energy, Inc.(b) |
|
|
67,676 |
|
|
|
1,603,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
34,511,749 |
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Refining &
Marketing-14.25% |
|
|
|
|
|
|
|
|
|
Marathon Petroleum Corp. |
|
|
27,776 |
|
|
|
4,201,120 |
|
|
Par Pacific Holdings, Inc.(b)(c) |
|
|
74,076 |
|
|
|
2,431,174 |
|
|
PBF Energy, Inc., Class A(b) |
|
|
97,696 |
|
|
|
4,643,491 |
|
|
Phillips 66 |
|
|
21,689 |
|
|
|
2,474,064 |
|
|
Valero Energy Corp. |
|
|
19,459 |
|
|
|
2,471,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,221,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Oil & Gas Storage &
Transportation-8.89% |
|
|
|
|
|
|
Antero Midstream Corp.(b) |
|
|
156,000 |
|
|
$ |
1,925,040 |
|
|
Kinder Morgan, Inc. |
|
|
133,989 |
|
|
|
2,170,622 |
|
|
Targa Resources Corp. |
|
|
72,102 |
|
|
|
6,028,448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,124,110 |
|
|
|
|
|
|
|
|
|
|
|
Steel-8.95% |
|
|
|
|
|
|
|
|
|
Alpha Metallurgical Resources, Inc.(b) |
|
|
36,106 |
|
|
|
7,941,876 |
|
|
Warrior Met Coal, Inc. |
|
|
46,217 |
|
|
|
2,252,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,194,030 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $108,471,822) |
|
|
|
113,783,873 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.15% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$177,509) |
|
|
177,509 |
|
|
|
177,509 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.08%
(Cost
$108,649,331) |
|
|
|
113,961,382 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-21.40% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
6,820,317 |
|
|
|
6,820,317 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
17,541,116 |
|
|
|
17,542,870 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $24,362,638) |
|
|
|
24,363,187 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-121.48%
(Cost
$133,011,969) |
|
|
|
138,324,569 |
|
|
OTHER ASSETS LESS LIABILITIES-(21.48)% |
|
|
|
(24,457,630 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
$ |
113,866,939 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Energy Momentum ETF (PXI)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (c) |
Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
221,047 |
|
|
|
$ |
2,063,801 |
|
|
|
$ |
(2,107,339 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
177,509 |
|
|
|
$ |
4,619 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
5,805,002 |
|
|
|
|
51,939,908 |
|
|
|
|
(50,924,593 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
6,820,317 |
|
|
|
|
116,296 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
14,927,149 |
|
|
|
|
97,547,927 |
|
|
|
|
(94,933,692 |
) |
|
|
|
549 |
|
|
|
|
937 |
|
|
|
|
17,542,870 |
|
|
|
|
309,793 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
20,953,198 |
|
|
|
$ |
151,551,636 |
|
|
|
$ |
(147,965,624 |
) |
|
|
$ |
549 |
|
|
|
$ |
937 |
|
|
|
$ |
24,540,696 |
|
|
|
$ |
430,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Oil & Gas Exploration &
Production |
|
|
30.31 |
|
|
|
|
|
|
|
|
|
Oil & Gas Equipment &
Services |
|
|
28.40 |
|
|
|
|
|
|
|
|
|
Oil & Gas Refining &
Marketing |
|
|
14.25 |
|
|
|
|
|
|
|
|
|
Steel |
|
|
8.95 |
|
|
|
|
|
|
|
|
|
Oil & Gas Storage &
Transportation |
|
|
8.89 |
|
|
|
|
|
|
|
|
|
Oil & Gas Drilling |
|
|
7.34 |
|
|
|
|
|
|
|
|
|
Coal & Consumable Fuels |
|
|
1.79 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.07 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Financial
Momentum ETF (PFI)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.98% |
|
|
Asset Management & Custody
Banks-6.57% |
|
|
Ares Management Corp., Class A |
|
|
11,358 |
|
|
$ |
1,119,785 |
|
|
Victory Capital Holdings, Inc., Class A(b) |
|
|
9,785 |
|
|
|
288,266 |
|
|
WisdomTree, Inc. |
|
|
37,553 |
|
|
|
232,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,640,880 |
|
|
|
|
|
|
|
|
|
|
|
Commercial & Residential Mortgage
Finance-7.85% |
|
|
Federal Agricultural Mortgage Corp., Class C |
|
|
2,271 |
|
|
|
337,380 |
|
|
MGIC Investment Corp. |
|
|
20,954 |
|
|
|
352,865 |
|
|
Mr. Cooper Group, Inc.(b)(c) |
|
|
12,459 |
|
|
|
704,307 |
|
|
NMI Holdings, Inc., Class A(c) |
|
|
9,118 |
|
|
|
249,377 |
|
|
Radian Group, Inc. |
|
|
12,514 |
|
|
|
317,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,961,034 |
|
|
|
|
|
|
|
|
|
|
|
Consumer Finance-1.31% |
|
|
|
|
|
|
|
|
|
OneMain Holdings, Inc. |
|
|
9,080 |
|
|
|
326,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Banks-6.81% |
|
|
|
|
|
|
|
|
|
First Citizens BancShares, Inc., Class A(b) |
|
|
523 |
|
|
|
722,127 |
|
|
JPMorgan Chase & Co. |
|
|
7,042 |
|
|
|
979,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,701,388 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Financial Services-4.92% |
|
|
|
|
|
|
|
|
|
Apollo Global Management, Inc. |
|
|
11,615 |
|
|
|
899,465 |
|
|
Jackson Financial, Inc., Class A(b) |
|
|
8,966 |
|
|
|
329,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,228,607 |
|
|
|
|
|
|
|
|
|
|
|
Diversified Real Estate
Activities-0.84% |
|
|
|
|
|
|
|
|
|
St. Joe Co. (The) |
|
|
4,474 |
|
|
|
208,667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified REITs-1.31% |
|
|
|
|
|
|
|
|
|
Essential Properties Realty Trust, Inc.(b) |
|
|
14,939 |
|
|
|
327,911 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Exchanges &
Data-1.69% |
|
|
|
|
|
|
|
|
|
Donnelley Financial Solutions, Inc.(c) |
|
|
7,733 |
|
|
|
420,907 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance Brokers-14.61% |
|
|
|
|
|
|
|
|
|
Aon PLC, Class A |
|
|
2,090 |
|
|
|
646,646 |
|
|
Arthur J. Gallagher & Co. |
|
|
4,076 |
|
|
|
959,857 |
|
|
Brown & Brown, Inc. |
|
|
9,525 |
|
|
|
661,225 |
|
|
Goosehead Insurance, Inc., Class A(b)(c) |
|
|
5,208 |
|
|
|
337,843 |
|
|
Marsh & McLennan Cos., Inc. |
|
|
3,838 |
|
|
|
727,877 |
|
|
Ryan Specialty Holdings, Inc., Class A(b)(c) |
|
|
7,294 |
|
|
|
315,101 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,648,549 |
|
|
|
|
|
|
|
|
|
|
|
Investment Banking &
Brokerage-6.62% |
|
|
|
|
|
|
|
|
|
Houlihan Lokey, Inc. |
|
|
4,101 |
|
|
|
412,233 |
|
|
LPL Financial Holdings, Inc. |
|
|
5,531 |
|
|
|
1,241,820 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,654,053 |
|
|
|
|
|
|
|
|
|
|
|
Life & Health Insurance-4.30% |
|
|
|
|
|
|
|
|
|
Aflac, Inc. |
|
|
7,525 |
|
|
|
587,778 |
|
|
Primerica, Inc. |
|
|
2,549 |
|
|
|
487,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,075,045 |
|
|
|
|
|
|
|
|
|
|
|
Multi-Sector Holdings-1.68% |
|
|
|
|
|
|
|
|
|
Berkshire Hathaway, Inc., Class B(c) |
|
|
1,226 |
|
|
|
418,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property & Casualty
Insurance-10.58% |
|
|
|
|
|
|
|
|
|
Arch Capital Group Ltd.(c) |
|
|
7,099 |
|
|
|
615,341 |
|
|
Erie Indemnity Co., Class A(b) |
|
|
1,764 |
|
|
|
487,199 |
|
|
Kinsale Capital Group, Inc.(b) |
|
|
3,524 |
|
|
|
1,176,699 |
|
|
Old Republic International Corp. |
|
|
13,291 |
|
|
|
363,908 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,643,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Real Estate Operating Companies-1.17% |
|
|
|
|
|
|
|
|
|
DigitalBridge Group, Inc.(b) |
|
|
18,375 |
|
|
$ |
291,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Regional Banks-14.57% |
|
|
|
|
|
|
|
|
|
BancFirst Corp. |
|
|
3,077 |
|
|
|
249,575 |
|
|
Bancorp, Inc. (The)(b)(c) |
|
|
7,572 |
|
|
|
269,942 |
|
|
Customers Bancorp, Inc.(b)(c) |
|
|
8,502 |
|
|
|
341,865 |
|
|
First Bancorp |
|
|
34,179 |
|
|
|
456,290 |
|
|
First Foundation, Inc. |
|
|
35,058 |
|
|
|
159,163 |
|
|
New York Community Bancorp, Inc. |
|
|
40,663 |
|
|
|
385,485 |
|
|
OFG Bancorp |
|
|
10,625 |
|
|
|
314,713 |
|
|
Pathward Financial, Inc. |
|
|
5,657 |
|
|
|
256,206 |
|
|
ServisFirst Bancshares, Inc.(b) |
|
|
7,750 |
|
|
|
365,490 |
|
|
Western Alliance Bancorporation(b) |
|
|
12,371 |
|
|
|
508,448 |
|
|
Wintrust Financial Corp. |
|
|
4,440 |
|
|
|
331,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,638,801 |
|
|
|
|
|
|
|
|
|
|
|
Reinsurance-1.35% |
|
|
|
|
|
|
|
|
|
Reinsurance Group of America, Inc. |
|
|
2,253 |
|
|
|
336,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail REITs-2.66% |
|
|
|
|
|
|
|
|
|
Kite Realty Group Trust(b) |
|
|
15,692 |
|
|
|
334,553 |
|
|
Tanger Factory Outlet Centers, Inc. |
|
|
14,600 |
|
|
|
329,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
663,783 |
|
|
|
|
|
|
|
|
|
|
|
Trading Companies &
Distributors-1.67% |
|
|
|
|
|
|
|
|
|
FTAI Aviation Ltd.(b) |
|
|
11,094 |
|
|
|
417,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction & Payment Processing
Services-9.47% |
|
|
|
|
|
|
Mastercard, Inc., Class A |
|
|
3,751 |
|
|
|
1,411,689 |
|
|
Visa, Inc., Class A(b) |
|
|
4,051 |
|
|
|
952,390 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,364,079 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $24,269,866) |
|
|
|
24,966,812 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.56% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$139,625) |
|
|
139,625 |
|
|
|
139,625 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.54%
(Cost
$24,409,491) |
|
|
|
25,106,437 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-19.89% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
1,390,977 |
|
|
|
1,390,977 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
3,577,512 |
|
|
|
3,577,870 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,968,770) |
|
|
|
4,968,847 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-120.43%
(Cost
$29,378,261) |
|
|
|
30,075,284 |
|
|
OTHER ASSETS LESS LIABILITIES-(20.43)% |
|
|
|
(5,102,858 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00% |
|
|
$ |
24,972,426 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Financial Momentum ETF (PFI)–(continued)
October 31, 2023
(Unaudited)
Investment Abbreviations:
REIT-Real Estate Investment Trust
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (c) |
Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
135,073 |
|
|
|
$ |
422,551 |
|
|
|
$ |
(417,999 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
139,625 |
|
|
|
$ |
3,554 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
1,083,298 |
|
|
|
|
16,990,522 |
|
|
|
|
(16,682,843 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
1,390,977 |
|
|
|
|
42,346 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
2,785,624 |
|
|
|
|
33,048,883 |
|
|
|
|
(32,257,363 |
) |
|
|
|
175 |
|
|
|
|
551 |
|
|
|
|
3,577,870 |
|
|
|
|
114,510 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
4,003,995 |
|
|
|
$ |
50,461,956 |
|
|
|
$ |
(49,358,205 |
) |
|
|
$ |
175 |
|
|
|
$ |
551 |
|
|
|
$ |
5,108,472 |
|
|
|
$ |
160,410 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Insurance Brokers |
|
|
14.61 |
|
|
|
|
|
|
|
|
|
Regional Banks |
|
|
14.57 |
|
|
|
|
|
|
|
|
|
Property & Casualty Insurance |
|
|
10.58 |
|
|
|
|
|
|
|
|
|
Transaction & Payment Processing
Services |
|
|
9.47 |
|
|
|
|
|
|
|
|
|
Commercial & Residential Mortgage
Finance |
|
|
7.85 |
|
|
|
|
|
|
|
|
|
Diversified Banks |
|
|
6.81 |
|
|
|
|
|
|
|
|
|
Investment Banking & Brokerage |
|
|
6.62 |
|
|
|
|
|
|
|
|
|
Asset Management & Custody Banks |
|
|
6.57 |
|
|
|
|
|
|
|
|
|
Diversified Financial Services |
|
|
4.92 |
|
|
|
|
|
|
|
|
|
Life & Health Insurance |
|
|
4.30 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
13.68 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.02 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Healthcare
Momentum ETF (PTH)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.96% |
|
|
Biotechnology-54.48% |
|
|
|
|
|
|
|
|
|
Agios Pharmaceuticals, Inc.(b)(c) |
|
|
126,585 |
|
|
$ |
2,659,551 |
|
|
Akero Therapeutics, Inc.(b)(c) |
|
|
95,429 |
|
|
|
1,137,514 |
|
|
Arcturus Therapeutics Holdings, Inc.(b)(c) |
|
|
119,978 |
|
|
|
2,291,580 |
|
|
Ardelyx, Inc.(b)(c) |
|
|
1,113,084 |
|
|
|
4,396,682 |
|
|
Bridgebio Pharma, Inc.(b)(c) |
|
|
184,971 |
|
|
|
4,816,645 |
|
|
Cabaletta Bio, Inc.(b)(c) |
|
|
234,802 |
|
|
|
3,348,275 |
|
|
Crinetics Pharmaceuticals, Inc.(b)(c) |
|
|
130,291 |
|
|
|
3,816,223 |
|
|
Disc Medicine, Inc.(b)(c) |
|
|
74,948 |
|
|
|
3,433,368 |
|
|
Ideaya Biosciences, Inc.(b)(c) |
|
|
156,113 |
|
|
|
4,241,590 |
|
|
Kiniksa Pharmaceuticals Ltd., Class A(b)(c) |
|
|
186,740 |
|
|
|
2,847,785 |
|
|
Mirum Pharmaceuticals, Inc.(b)(c) |
|
|
121,308 |
|
|
|
3,327,478 |
|
|
MoonLake Immunotherapeutics(b)(c) |
|
|
80,476 |
|
|
|
4,169,462 |
|
|
Nuvalent, Inc., Class A(b)(c) |
|
|
75,407 |
|
|
|
3,927,951 |
|
|
REVOLUTION Medicines, Inc.(b)(c) |
|
|
125,265 |
|
|
|
2,480,247 |
|
|
Roivant Sciences Ltd.(b)(c) |
|
|
435,357 |
|
|
|
3,761,484 |
|
|
Tango Therapeutics, Inc.(b)(c) |
|
|
425,696 |
|
|
|
3,575,846 |
|
|
Vera Therapeutics, Inc.(b)(c) |
|
|
217,819 |
|
|
|
2,269,674 |
|
|
Veracyte, Inc.(b)(c) |
|
|
130,315 |
|
|
|
2,700,127 |
|
|
Viking Therapeutics, Inc.(b)(c) |
|
|
316,921 |
|
|
|
3,108,995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
62,310,477 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Equipment-10.29% |
|
|
|
|
|
|
|
|
|
Glaukos Corp.(b)(c) |
|
|
51,020 |
|
|
|
3,479,564 |
|
|
IDEXX Laboratories, Inc.(b) |
|
|
10,787 |
|
|
|
4,309,083 |
|
|
Stryker Corp. |
|
|
14,745 |
|
|
|
3,984,394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,773,041 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Facilities-3.47% |
|
|
|
|
|
|
|
|
|
HCA Healthcare, Inc. |
|
|
17,528 |
|
|
|
3,963,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Services-6.30% |
|
|
|
|
|
|
|
|
|
CorVel Corp.(b)(c) |
|
|
18,404 |
|
|
|
3,569,272 |
|
|
RadNet, Inc.(b)(c) |
|
|
134,748 |
|
|
|
3,632,806 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,202,078 |
|
|
|
|
|
|
|
|
|
|
|
Health Care Supplies-3.13% |
|
|
|
|
|
|
|
|
|
Haemonetics Corp.(b)(c) |
|
|
41,927 |
|
|
|
3,573,438 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Life Sciences Tools &
Services-7.43% |
|
|
|
|
|
|
|
|
|
Medpace Holdings, Inc.(b) |
|
|
22,213 |
|
|
|
5,390,429 |
|
|
Quanterix Corp.(b) |
|
|
143,046 |
|
|
|
3,106,959 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,497,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Pharmaceuticals-14.86% |
|
|
|
|
|
|
|
|
|
ANI Pharmaceuticals, Inc.(b)(c) |
|
|
56,106 |
|
|
$ |
3,463,984 |
|
|
Corcept Therapeutics, Inc.(b)(c) |
|
|
115,826 |
|
|
|
3,252,394 |
|
|
Cymabay Therapeutics, Inc.(b)(c) |
|
|
302,270 |
|
|
|
4,951,183 |
|
|
Eli Lilly and Co. |
|
|
9,618 |
|
|
|
5,327,699 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,995,260 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $125,885,385) |
|
|
|
114,315,464 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.28% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$325,384) |
|
|
325,384 |
|
|
|
325,384 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.24%
(Cost
$126,210,769) |
|
|
|
114,640,848 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-31.74% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
10,484,190 |
|
|
|
10,484,190 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
25,812,551 |
|
|
|
25,815,132 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $36,299,253) |
|
|
|
36,299,322 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-131.98%
(Cost
$162,510,022) |
|
|
|
150,940,170 |
|
|
OTHER ASSETS LESS LIABILITIES-(31.98)% |
|
|
|
(36,574,069 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
$ |
114,366,101 |
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
Non-income producing security.
|
| (c) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated
Money
Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
272,087 |
|
|
|
$ |
1,332,710 |
|
|
|
$ |
(1,279,413 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
325,384 |
|
|
|
$ |
7,114 |
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Healthcare Momentum ETF (PTH)–(continued)
October 31, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
$ |
11,949,604 |
|
|
|
$ |
72,007,778 |
|
|
|
$ |
(73,473,192 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
10,484,190 |
|
|
|
$ |
273,324 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
30,727,554 |
|
|
|
|
150,904,443 |
|
|
|
|
(155,820,086 |
) |
|
|
|
69 |
|
|
|
|
3,152 |
|
|
|
|
25,815,132 |
|
|
|
|
721,659 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
42,949,245 |
|
|
|
$ |
224,244,931 |
|
|
|
$ |
(230,572,691 |
) |
|
|
$ |
69 |
|
|
|
$ |
3,152 |
|
|
|
$ |
36,624,706 |
|
|
|
$ |
1,002,097 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Biotechnology |
|
|
54.48 |
|
|
|
|
|
|
|
|
|
Pharmaceuticals |
|
|
14.86 |
|
|
|
|
|
|
|
|
|
Health Care Equipment |
|
|
10.29 |
|
|
|
|
|
|
|
|
|
Life Sciences Tools & Services |
|
|
7.43 |
|
|
|
|
|
|
|
|
|
Health Care Services |
|
|
6.30 |
|
|
|
|
|
|
|
|
|
Health Care Facilities |
|
|
3.47 |
|
|
|
|
|
|
|
|
|
Health Care Supplies |
|
|
3.13 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.04 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Industrials
Momentum ETF (PRN)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.95% |
|
|
Aerospace & Defense-6.64% |
|
|
HEICO Corp.(b) |
|
|
19,673 |
|
|
$ |
3,116,400 |
|
|
Howmet Aerospace, Inc. |
|
|
61,380 |
|
|
|
2,706,858 |
|
|
TransDigm Group, Inc.(c) |
|
|
3,758 |
|
|
|
3,111,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,935,220 |
|
|
|
|
|
|
|
|
|
|
|
Building Products-14.46% |
|
|
|
|
|
|
|
|
|
A.O. Smith Corp. |
|
|
36,310 |
|
|
|
2,532,985 |
|
|
Builders FirstSource, Inc.(b)(c) |
|
|
55,139 |
|
|
|
5,983,684 |
|
|
Carlisle Cos., Inc.(b) |
|
|
11,107 |
|
|
|
2,822,178 |
|
|
CSW Industrials, Inc. |
|
|
6,981 |
|
|
|
1,237,452 |
|
|
Trane Technologies PLC. |
|
|
27,799 |
|
|
|
5,290,428 |
|
|
UFP Industries, Inc. |
|
|
16,898 |
|
|
|
1,608,183 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,474,910 |
|
|
|
|
|
|
|
|
|
|
|
Cargo Ground Transportation-11.62% |
|
|
|
|
|
|
|
|
|
ArcBest Corp. |
|
|
22,464 |
|
|
|
2,445,880 |
|
|
Old Dominion Freight Line, Inc. |
|
|
18,515 |
|
|
|
6,973,860 |
|
|
Saia, Inc.(b)(c) |
|
|
17,360 |
|
|
|
6,223,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,643,127 |
|
|
|
|
|
|
|
|
|
|
|
Commercial Printing-0.79% |
|
|
|
|
|
|
|
|
|
Cimpress PLC (Ireland)(c) |
|
|
17,850 |
|
|
|
1,065,109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction &
Engineering-10.41% |
|
|
|
|
|
|
|
|
|
API Group Corp.(b)(c) |
|
|
70,099 |
|
|
|
1,813,461 |
|
|
Comfort Systems USA, Inc. |
|
|
12,043 |
|
|
|
2,190,020 |
|
|
Limbach Holdings, Inc.(b)(c) |
|
|
55,595 |
|
|
|
1,656,731 |
|
|
MYR Group, Inc.(c) |
|
|
10,889 |
|
|
|
1,261,273 |
|
|
Quanta Services, Inc. |
|
|
24,901 |
|
|
|
4,161,455 |
|
|
Sterling Infrastructure, Inc.(c) |
|
|
40,343 |
|
|
|
2,938,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,021,927 |
|
|
|
|
|
|
|
|
|
|
|
Construction Machinery & Heavy Transportation
Equipment-1.01% |
|
|
Terex Corp. |
|
|
29,717 |
|
|
|
1,361,039 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diversified Support Services-8.65% |
|
|
|
|
|
|
|
|
|
Cintas Corp. |
|
|
12,138 |
|
|
|
6,155,422 |
|
|
Copart, Inc.(c) |
|
|
126,086 |
|
|
|
5,487,263 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,642,685 |
|
|
|
|
|
|
|
|
|
|
|
Electrical Components &
Equipment-13.69% |
|
|
|
|
|
|
AMETEK, Inc. |
|
|
51,693 |
|
|
|
7,276,824 |
|
|
Fluence Energy, Inc.(b)(c) |
|
|
86,443 |
|
|
|
1,497,193 |
|
|
Hubbell, Inc. |
|
|
17,896 |
|
|
|
4,833,709 |
|
|
Powell Industries, Inc. |
|
|
18,320 |
|
|
|
1,404,228 |
|
|
Vertiv Holdings Co. |
|
|
87,333 |
|
|
|
3,429,567 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,441,521 |
|
|
|
|
|
|
|
|
|
|
|
Electronic Equipment &
Instruments-1.26% |
|
|
|
|
|
|
Crane NXT Co.(b) |
|
|
32,516 |
|
|
|
1,690,832 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Electronic Manufacturing Services-2.89% |
|
|
|
|
|
|
Jabil, Inc.(b) |
|
|
31,735 |
|
|
|
3,897,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Environmental & Facilities
Services-1.17% |
|
|
|
|
|
|
Clean Harbors, Inc.(b)(c) |
|
|
10,212 |
|
|
|
1,569,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Industrial Machinery & Supplies &
Components-8.02% |
|
|
Graco, Inc.(b) |
|
|
41,804 |
|
|
$ |
3,108,128 |
|
|
Illinois Tool Works, Inc. |
|
|
12,618 |
|
|
|
2,827,946 |
|
|
Parker-Hannifin Corp. |
|
|
13,186 |
|
|
|
4,864,447 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,800,521 |
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Storage &
Transportation-2.19% |
|
|
|
|
|
|
Dorian LPG Ltd. |
|
|
92,394 |
|
|
|
2,953,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Consulting
Services-3.18% |
|
|
|
|
|
|
|
|
|
CBIZ, Inc.(c) |
|
|
23,078 |
|
|
|
1,199,133 |
|
|
KBR, Inc. |
|
|
53,065 |
|
|
|
3,085,730 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,284,863 |
|
|
|
|
|
|
|
|
|
|
|
Trading Companies &
Distributors-11.73% |
|
|
|
|
|
|
GMS, Inc.(b)(c) |
|
|
28,983 |
|
|
|
1,694,926 |
|
|
Herc Holdings, Inc.(b) |
|
|
22,666 |
|
|
|
2,420,502 |
|
|
Rush Enterprises, Inc., Class A |
|
|
29,068 |
|
|
|
1,034,239 |
|
|
United Rentals, Inc. |
|
|
7,883 |
|
|
|
3,202,626 |
|
|
W.W. Grainger, Inc. |
|
|
4,570 |
|
|
|
3,335,323 |
|
|
WESCO International, Inc. |
|
|
32,033 |
|
|
|
4,106,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,794,247 |
|
|
|
|
|
|
|
|
|
|
|
Transaction & Payment Processing
Services-2.24% |
|
|
|
|
|
|
Fiserv, Inc.(c) |
|
|
26,580 |
|
|
|
3,023,475 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $123,392,676) |
|
|
|
134,599,648 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.13% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$172,330) |
|
|
172,330 |
|
|
|
172,330 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.08%
(Cost
$123,565,006) |
|
|
|
134,771,978 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-6.14% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
2,313,885 |
|
|
|
2,313,885 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
5,952,352 |
|
|
|
5,952,947 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $8,267,151) |
|
|
|
8,266,832 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-106.22%
(Cost
$131,832,157) |
|
|
|
143,038,810 |
|
|
OTHER ASSETS LESS LIABILITIES-(6.22)% |
|
|
|
(8,381,759 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
$ |
134,657,051 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Industrials Momentum ETF
(PRN)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (c) |
Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation
(Depreciation) |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
166,062 |
|
|
|
$ |
1,070,956 |
|
|
|
$ |
(1,064,688 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
172,330 |
|
|
|
$ |
5,057 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
3,700,195 |
|
|
|
|
29,594,566 |
|
|
|
|
(30,980,876 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
2,313,885 |
|
|
|
|
75,042 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
9,618,556 |
|
|
|
|
59,121,162 |
|
|
|
|
(62,788,279 |
) |
|
|
|
(176 |
) |
|
|
|
1,684 |
|
|
|
|
5,952,947 |
|
|
|
|
203,005 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
13,484,813 |
|
|
|
$ |
89,786,684 |
|
|
|
$ |
(94,833,843 |
) |
|
|
$ |
(176 |
) |
|
|
$ |
1,684 |
|
|
|
$ |
8,439,162 |
|
|
|
$ |
283,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Building Products |
|
|
14.46 |
|
|
|
|
|
|
|
|
|
Electrical Components & Equipment |
|
|
13.69 |
|
|
|
|
|
|
|
|
|
Trading Companies & Distributors |
|
|
11.73 |
|
|
|
|
|
|
|
|
|
Cargo Ground Transportation |
|
|
11.62 |
|
|
|
|
|
|
|
|
|
Construction & Engineering |
|
|
10.41 |
|
|
|
|
|
|
|
|
|
Diversified Support Services |
|
|
8.65 |
|
|
|
|
|
|
|
|
|
Industrial Machinery & Supplies &
Components |
|
|
8.02 |
|
|
|
|
|
|
|
|
|
Aerospace & Defense |
|
|
6.64 |
|
|
|
|
|
|
|
|
|
Research & Consulting Services |
|
|
3.18 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
11.55 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
0.05 |
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Technology
Momentum ETF (PTF)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-100.01% |
|
|
Advertising-2.20% |
|
|
Cardlytics, Inc.(b)(c) |
|
|
505,371 |
|
|
$ |
6,261,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Application Software-43.86% |
|
|
|
|
|
|
|
|
|
AppFolio, Inc., Class A(b) |
|
|
39,477 |
|
|
|
7,404,701 |
|
|
AppLovin Corp., Class A(b) |
|
|
290,492 |
|
|
|
10,585,529 |
|
|
Braze, Inc., Class A(b) |
|
|
150,319 |
|
|
|
6,400,583 |
|
|
Cadence Design Systems, Inc.(b) |
|
|
62,869 |
|
|
|
15,079,130 |
|
|
Fair Isaac Corp.(b) |
|
|
11,776 |
|
|
|
9,960,965 |
|
|
Freshworks, Inc., Class A(b) |
|
|
336,777 |
|
|
|
6,041,779 |
|
|
HubSpot, Inc.(b) |
|
|
16,342 |
|
|
|
6,925,249 |
|
|
InterDigital, Inc.(c) |
|
|
83,261 |
|
|
|
6,265,390 |
|
|
Manhattan Associates, Inc.(b) |
|
|
49,986 |
|
|
|
9,746,270 |
|
|
PowerSchool Holdings, Inc., Class A(b)(c) |
|
|
325,643 |
|
|
|
6,486,809 |
|
|
PROS Holdings, Inc.(b)(c) |
|
|
177,021 |
|
|
|
5,514,204 |
|
|
Samsara, Inc., Class A(b) |
|
|
373,872 |
|
|
|
8,625,227 |
|
|
SPS Commerce, Inc.(b) |
|
|
46,814 |
|
|
|
7,506,157 |
|
|
Synopsys, Inc.(b) |
|
|
23,416 |
|
|
|
10,992,407 |
|
|
Vertex, Inc., Class A(b) |
|
|
298,253 |
|
|
|
7,220,705 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
124,755,105 |
|
|
|
|
|
|
|
|
|
|
|
Communications Equipment-3.92% |
|
|
|
|
|
|
|
|
|
Arista Networks, Inc.(b) |
|
|
55,678 |
|
|
|
11,156,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Electronic Equipment &
Instruments-1.52% |
|
|
|
|
|
|
PAR Technology Corp.(b)(c) |
|
|
147,541 |
|
|
|
4,306,722 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Internet Services &
Infrastructure-1.92% |
|
|
|
|
|
|
Fastly, Inc., Class A(b)(c) |
|
|
372,367 |
|
|
|
5,462,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductor Materials &
Equipment-6.09% |
|
|
|
|
|
|
Axcelis Technologies, Inc.(b)(c) |
|
|
76,833 |
|
|
|
9,796,207 |
|
|
Onto Innovation, Inc.(b) |
|
|
67,034 |
|
|
|
7,532,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,328,818 |
|
|
|
|
|
|
|
|
|
|
|
Semiconductors-13.37% |
|
|
|
|
|
|
|
|
|
Broadcom, Inc. |
|
|
12,195 |
|
|
|
10,260,507 |
|
|
MACOM Technology Solutions Holdings, Inc.(b) |
|
|
105,927 |
|
|
|
7,472,091 |
|
|
NVIDIA Corp. |
|
|
29,719 |
|
|
|
12,119,408 |
|
|
ON Semiconductor Corp.(b) |
|
|
130,316 |
|
|
|
8,162,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,015,000 |
|
|
|
|
|
|
|
|
|
|
|
Systems Software-11.67% |
|
|
|
|
|
|
|
|
|
Microsoft Corp. |
|
|
30,521 |
|
|
|
10,319,455 |
|
|
Oracle Corp. |
|
|
74,202 |
|
|
|
7,672,487 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Systems Software-(continued) |
|
|
|
|
|
|
|
|
|
Palo Alto Networks, Inc.(b) |
|
|
34,456 |
|
|
$ |
8,373,497 |
|
|
Qualys, Inc.(b) |
|
|
44,569 |
|
|
|
6,816,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33,182,268 |
|
|
|
|
|
|
|
|
|
|
|
Technology Hardware, Storage &
Peripherals-9.87% |
|
|
|
|
|
|
Apple, Inc. |
|
|
109,173 |
|
|
|
18,643,473 |
|
|
Dell Technologies, Inc., Class C |
|
|
141,100 |
|
|
|
9,441,001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,084,474 |
|
|
|
|
|
|
|
|
|
|
|
Transaction & Payment Processing
Services-2.64% |
|
|
|
|
|
|
Affirm Holdings, Inc.(b)(c) |
|
|
425,818 |
|
|
|
7,498,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wireless Telecommunication
Services-2.95% |
|
|
|
|
|
|
United States Cellular Corp.(b) |
|
|
199,802 |
|
|
|
8,397,678 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $287,126,453) |
|
|
|
284,449,091 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.11% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$321,703) |
|
|
321,703 |
|
|
|
321,703 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.12%
(Cost
$287,448,156) |
|
|
|
284,770,794 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-12.83% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
10,215,882 |
|
|
|
10,215,882 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
26,272,838 |
|
|
|
26,275,465 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $36,491,347) |
|
|
|
36,491,347 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-112.95%
(Cost
$323,939,503) |
|
|
|
321,262,141 |
|
|
OTHER ASSETS LESS LIABILITIES-(12.95)% |
|
|
|
(36,830,276 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
$ |
284,431,865 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Technology Momentum ETF (PTF)–(continued)
October 31, 2023
(Unaudited)
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
Non-income producing security.
|
| (c) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
292,096 |
|
|
|
$ |
1,338,468 |
|
|
|
$ |
(1,308,861 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
321,703 |
|
|
|
$ |
9,102 |
|
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
|
14,253,080 |
|
|
|
|
106,186,852 |
|
|
|
|
(110,224,050 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
10,215,882 |
|
|
|
|
374,796 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
37,945,789 |
|
|
|
|
234,853,861 |
|
|
|
|
(246,527,146 |
) |
|
|
|
1,396 |
|
|
|
|
1,565 |
|
|
|
|
26,275,465 |
|
|
|
|
1,010,638 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
52,490,965 |
|
|
|
$ |
342,379,181 |
|
|
|
$ |
(358,060,057 |
) |
|
|
$ |
1,396 |
|
|
|
$ |
1,565 |
|
|
|
$ |
36,813,050 |
|
|
|
$ |
1,394,536 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Application Software |
|
|
43.86 |
|
|
|
|
|
|
|
|
|
Semiconductors |
|
|
13.37 |
|
|
|
|
|
|
|
|
|
Systems Software |
|
|
11.67 |
|
|
|
|
|
|
|
|
|
Technology Hardware, Storage &
Peripherals |
|
|
9.87 |
|
|
|
|
|
|
|
|
|
Semiconductor Materials & Equipment |
|
|
6.09 |
|
|
|
|
|
|
|
|
|
Communications Equipment |
|
|
3.92 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
11.23 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets Less
Liabilities |
|
|
(0.01 |
) |
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Utilities
Momentum ETF (PUI)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-99.82% |
|
|
Electric Utilities-45.41% |
|
|
Alliant Energy Corp. |
|
|
26,467 |
|
|
$ |
1,291,325 |
|
|
Constellation Energy Corp. |
|
|
12,368 |
|
|
|
1,396,595 |
|
|
Duke Energy Corp. |
|
|
13,226 |
|
|
|
1,175,659 |
|
|
Evergy, Inc. |
|
|
16,560 |
|
|
|
813,758 |
|
|
Eversource Energy |
|
|
12,838 |
|
|
|
690,556 |
|
|
Exelon Corp. |
|
|
26,966 |
|
|
|
1,050,056 |
|
|
FirstEnergy Corp. |
|
|
20,842 |
|
|
|
741,975 |
|
|
IDACORP, Inc. |
|
|
7,024 |
|
|
|
665,243 |
|
|
NextEra Energy, Inc. |
|
|
21,577 |
|
|
|
1,257,939 |
|
|
NRG Energy, Inc. |
|
|
19,571 |
|
|
|
829,419 |
|
|
Otter Tail Corp.(b) |
|
|
11,336 |
|
|
|
872,192 |
|
|
PG&E Corp.(c) |
|
|
74,839 |
|
|
|
1,219,876 |
|
|
Pinnacle West Capital Corp. |
|
|
15,291 |
|
|
|
1,134,286 |
|
|
Southern Co. (The) |
|
|
20,325 |
|
|
|
1,367,873 |
|
|
Xcel Energy, Inc. |
|
|
19,342 |
|
|
|
1,146,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,653,152 |
|
|
|
|
|
|
|
|
|
|
|
Gas Utilities-11.24% |
|
|
|
|
|
|
|
|
|
Atmos Energy Corp.(b) |
|
|
11,832 |
|
|
|
1,273,833 |
|
|
Chesapeake Utilities Corp.(b) |
|
|
7,051 |
|
|
|
624,789 |
|
|
National Fuel Gas Co. |
|
|
11,884 |
|
|
|
605,490 |
|
|
New Jersey Resources Corp.(b) |
|
|
18,648 |
|
|
|
756,736 |
|
|
ONE Gas, Inc.(b) |
|
|
10,144 |
|
|
|
612,698 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,873,546 |
|
|
|
|
|
|
|
|
|
|
|
Independent Power Producers & Energy
Traders-3.76% |
|
|
Vistra Corp. |
|
|
39,656 |
|
|
|
1,297,544 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multi-Utilities-23.52% |
|
|
|
|
|
|
|
|
|
Ameren Corp. |
|
|
9,872 |
|
|
|
747,409 |
|
|
CenterPoint Energy, Inc. |
|
|
30,166 |
|
|
|
810,862 |
|
|
CMS Energy Corp. |
|
|
17,707 |
|
|
|
962,199 |
|
|
DTE Energy Co. |
|
|
13,133 |
|
|
|
1,265,759 |
|
|
NiSource, Inc. |
|
|
45,855 |
|
|
|
1,153,712 |
|
|
Public Service Enterprise Group, Inc. |
|
|
12,631 |
|
|
|
778,701 |
|
|
Sempra |
|
|
17,612 |
|
|
|
1,233,368 |
|
|
WEC Energy Group, Inc. |
|
|
14,177 |
|
|
|
1,153,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,105,876 |
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas Exploration &
Production-2.34% |
|
|
|
|
|
|
EQT Corp. |
|
|
19,021 |
|
|
|
806,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Oil & Gas Storage &
Transportation-3.93% |
|
|
|
|
|
|
ONEOK, Inc. |
|
|
20,756 |
|
|
$ |
1,353,291 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Water Utilities-9.62% |
|
|
|
|
|
|
|
|
|
American States Water Co. |
|
|
11,111 |
|
|
|
867,214 |
|
|
American Water Works Co., Inc. |
|
|
9,047 |
|
|
|
1,064,379 |
|
|
Consolidated Water Co. Ltd. (Cayman Islands) |
|
|
26,898 |
|
|
|
794,029 |
|
|
Essential Utilities, Inc. |
|
|
17,696 |
|
|
|
592,108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,317,730 |
|
|
|
|
|
|
|
|
|
|
|
Total Common Stocks & Other Equity
Interests
(Cost $38,953,138) |
|
|
|
34,407,249 |
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Funds-0.40% |
|
|
Invesco Government & Agency Portfolio,
Institutional Class, 5.27%(d)(e)
(Cost
$138,139) |
|
|
138,139 |
|
|
|
138,139 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral from securities on loan)-100.22%
(Cost
$39,091,277) |
|
|
|
34,545,388 |
|
|
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral from
Securities on Loan |
|
|
|
Money Market Funds-9.99% |
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
963,322 |
|
|
|
963,322 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
2,477,639 |
|
|
|
2,477,887 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $3,441,160) |
|
|
|
3,441,209 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-110.21%
(Cost
$42,532,437) |
|
|
|
37,986,597 |
|
|
OTHER ASSETS LESS LIABILITIES-(10.21)% |
|
|
|
(3,518,576 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00% |
|
|
$ |
34,468,021 |
|
|
|
|
|
|
|
|
|
|
Notes to Schedule of Investments:
| (a) |
Industry and/or sector classifications used
in this report are generally according to the Global Industry
Classification Standard, which was developed by and is the exclusive
property and a service mark of MSCI Inc. and Standard & Poor’s.
|
| (b) |
All or a portion of this security was out
on loan at October 31, 2023. |
| (c) |
Non-income producing security.
|
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
in Affiliated Money Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class |
|
|
$ |
116,870 |
|
|
|
$ |
999,455 |
|
|
|
$ |
(978,186 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
138,139 |
|
|
|
$ |
2,818 |
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco Dorsey Wright Utilities Momentum ETF (PUI)–(continued)
October 31, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
|
Investments
Purchased with Cash Collateral from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund |
|
|
$ |
2,664,890 |
|
|
|
$ |
17,019,197 |
|
|
|
$ |
(18,720,765 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
963,322 |
|
|
|
$ |
23,200 |
* |
|
|
|
|
|
|
|
|
|
Invesco Private Prime Fund |
|
|
|
6,852,888 |
|
|
|
|
30,709,754 |
|
|
|
|
(35,085,270 |
) |
|
|
|
91 |
|
|
|
|
424 |
|
|
|
|
2,477,887 |
|
|
|
|
63,322 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
$ |
9,634,648 |
|
|
|
$ |
48,728,406 |
|
|
|
$ |
(54,784,221 |
) |
|
|
$ |
91 |
|
|
|
$ |
424 |
|
|
|
$ |
3,579,348 |
|
|
|
$ |
89,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (f) |
The security has been segregated to satisfy
the commitment to return the cash collateral received in securities
lending transactions upon the borrower’s return of the securities loaned.
See Note 2I. |
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Electric Utilities |
|
|
45.41 |
|
|
|
|
|
|
|
|
|
Multi-Utilities |
|
|
23.52 |
|
|
|
|
|
|
|
|
|
Gas Utilities |
|
|
11.24 |
|
|
|
|
|
|
|
|
|
Water Utilities |
|
|
9.62 |
|
|
|
|
|
|
|
|
|
Oil & Gas Storage &
Transportation |
|
|
3.93 |
|
|
|
|
|
|
|
|
|
Independent Power Producers & Energy
Traders |
|
|
3.76 |
|
|
|
|
|
|
|
|
|
Oil & Gas Exploration &
Production |
|
|
2.34 |
|
|
|
|
|
|
|
|
|
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.
Invesco NASDAQ Internet ETF (PNQI)
October 31, 2023
(Unaudited)
Schedule of Investments(a)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Common Stocks & Other Equity
Interests-100.07% |
|
|
Advertising-0.08% |
|
|
|
|
|
|
|
|
|
Criteo S.A., ADR (France)(b) |
|
|
15,109 |
|
|
$ |
427,131 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel Retail-0.02% |
|
|
|
|
|
|
|
|
|
Lands’ End, Inc.(b)(c) |
|
|
8,525 |
|
|
|
53,537 |
|
|
Stitch Fix, Inc., Class A(b)(c) |
|
|
23,591 |
|
|
|
77,378 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
130,915 |
|
|
|
|
|
|
|
|
|
|
|
Application Software-15.67% |
|
|
|
|
|
|
|
|
|
Adobe, Inc.(b) |
|
|
83,757 |
|
|
|
44,563,749 |
|
|
Alarm.com Holdings, Inc.(b)(c) |
|
|
13,323 |
|
|
|
681,205 |
|
|
Box,Inc., Class A(b)(c) |
|
|
38,457 |
|
|
|
956,041 |
|
|
Consensus Cloud Solutions, Inc.(b)(c) |
|
|
5,247 |
|
|
|
113,283 |
|
|
DocuSign, Inc.(b) |
|
|
54,029 |
|
|
|
2,100,648 |
|
|
Dropbox, Inc., Class A(b)(c) |
|
|
71,243 |
|
|
|
1,873,691 |
|
|
Envestnet, Inc.(b)(c) |
|
|
14,560 |
|
|
|
538,720 |
|
|
LivePerson, Inc.(b)(c) |
|
|
20,815 |
|
|
|
54,952 |
|
|
New Relic, Inc.(b)(c) |
|
|
18,748 |
|
|
|
1,624,889 |
|
|
Open Text Corp. (Canada)(c) |
|
|
72,401 |
|
|
|
2,418,193 |
|
|
PROS Holdings, Inc.(b)(c) |
|
|
12,336 |
|
|
|
384,266 |
|
|
Salesforce, Inc.(b) |
|
|
105,775 |
|
|
|
21,242,793 |
|
|
SPS Commerce, Inc.(b)(c) |
|
|
9,784 |
|
|
|
1,568,767 |
|
|
Unity Software, Inc.(b)(c) |
|
|
102,376 |
|
|
|
2,597,279 |
|
|
Zoom Video Communications, Inc., Class A(b) |
|
|
67,892 |
|
|
|
4,072,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
84,790,638 |
|
|
|
|
|
|
|
|
|
|
|
Broadline Retail-17.10% |
|
|
|
|
|
|
|
|
|
Alibaba Group Holding Ltd., ADR (China)(b)(c) |
|
|
230,732 |
|
|
|
19,044,619 |
|
|
Amazon.com, Inc.(b) |
|
|
339,461 |
|
|
|
45,178,865 |
|
|
eBay, Inc. |
|
|
142,076 |
|
|
|
5,573,641 |
|
|
Global-e Online Ltd. (Israel)(b)(c) |
|
|
43,852 |
|
|
|
1,539,644 |
|
|
JD.com, Inc., ADR (China)(c) |
|
|
121,086 |
|
|
|
3,078,006 |
|
|
MercadoLibre, Inc. (Brazil)(b) |
|
|
13,373 |
|
|
|
16,592,416 |
|
|
Vipshop Holdings Ltd., ADR (China)(b) |
|
|
109,313 |
|
|
|
1,558,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92,565,994 |
|
|
|
|
|
|
|
|
|
|
|
Casinos & Gaming-0.63% |
|
|
|
|
|
|
|
|
|
DraftKings, Inc., Class A(b) |
|
|
123,873 |
|
|
|
3,421,372 |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Printing-0.08% |
|
|
Cimpress PLC (Ireland)(b) |
|
|
7,039 |
|
|
|
420,017 |
|
|
|
|
|
|
|
|
|
|
|
|
Education Services-0.05% |
|
|
2U, Inc.(b) |
|
|
21,739 |
|
|
|
46,087 |
|
|
Chegg, Inc.(b)(c) |
|
|
30,788 |
|
|
|
231,833 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
277,920 |
|
|
|
|
|
|
|
|
|
|
|
Financial Exchanges &
Data-0.72% |
|
|
|
|
|
|
|
|
|
Coinbase Global, Inc., Class A(b)(c) |
|
|
50,713 |
|
|
|
3,910,987 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health Care Technology-0.16% |
|
|
|
|
|
|
|
|
|
GoodRx Holdings, Inc., Class A(b)(c) |
|
|
22,456 |
|
|
|
110,708 |
|
|
Teladoc Health, Inc.(b)(c) |
|
|
44,038 |
|
|
|
728,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
839,097 |
|
|
|
|
|
|
|
|
|
|
|
Homefurnishing Retail-0.22% |
|
|
|
|
|
|
|
|
|
Overstock.com, Inc.(b)(c) |
|
|
12,069 |
|
|
|
188,277 |
|
|
Wayfair, Inc., Class A(b)(c) |
|
|
24,097 |
|
|
|
1,026,773 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,215,050 |
|
|
|
|
|
|
|
|
|
|
|
Hotels, Resorts & Cruise
Lines-7.71% |
|
|
|
|
|
|
|
|
|
Airbnb, Inc., Class A(b) |
|
|
113,828 |
|
|
|
13,464,714 |
|
|
Booking Holdings, Inc.(b) |
|
|
7,543 |
|
|
|
21,041,651 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Hotels, Resorts & Cruise
Lines-(continued) |
|
|
|
|
|
|
|
|
|
Expedia Group, Inc.(b) |
|
|
36,800 |
|
|
$ |
3,506,672 |
|
|
MakeMyTrip Ltd. (India)(b) |
|
|
17,746 |
|
|
|
687,303 |
|
|
Trip.com Group Ltd., ADR (China)(b)(c) |
|
|
89,293 |
|
|
|
3,035,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41,736,302 |
|
|
|
|
|
|
|
|
|
|
|
Human Resource & Employment
Services-0.49% |
|
|
|
|
|
|
Paylocity Holding Corp.(b) |
|
|
14,929 |
|
|
|
2,678,263 |
|
|
|
|
|
|
|
|
|
|
|
|
Interactive Home Entertainment-2.41% |
|
|
Bilibili, Inc., ADR (China)(b)(c) |
|
|
31,428 |
|
|
|
422,078 |
|
|
NetEase, Inc., ADR (China)(c) |
|
|
32,860 |
|
|
|
3,513,391 |
|
|
Roblox Corp., Class A(b)(c) |
|
|
151,293 |
|
|
|
4,812,630 |
|
|
Sea Ltd., ADR (Singapore)(b)(c) |
|
|
102,632 |
|
|
|
4,279,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,027,854 |
|
|
|
|
|
|
|
|
|
|
|
Interactive Media &
Services-18.98% |
|
|
|
|
|
|
Alphabet, Inc., Class C(b) |
|
|
341,093 |
|
|
|
42,738,953 |
|
|
Autohome, Inc., ADR (China) |
|
|
18,035 |
|
|
|
482,436 |
|
|
Baidu, Inc., ADR (China)(b)(c) |
|
|
36,517 |
|
|
|
3,834,285 |
|
|
Bumble, Inc., Class A(b)(c) |
|
|
36,447 |
|
|
|
489,848 |
|
|
Cars.com, Inc.(b)(c) |
|
|
17,747 |
|
|
|
270,287 |
|
|
Eventbrite, Inc., Class A(b)(c) |
|
|
22,038 |
|
|
|
182,475 |
|
|
Hello Group, Inc., ADR (China) |
|
|
46,338 |
|
|
|
328,073 |
|
|
JOYY, Inc., ADR (China)(c) |
|
|
15,504 |
|
|
|
603,416 |
|
|
Meta Platforms, Inc., Class A(b) |
|
|
158,333 |
|
|
|
47,700,983 |
|
|
Shutterstock, Inc.(c) |
|
|
9,631 |
|
|
|
391,789 |
|
|
Snap, Inc., Class A(b)(c) |
|
|
365,398 |
|
|
|
3,657,634 |
|
|
TripAdvisor, Inc.(b) |
|
|
33,421 |
|
|
|
493,294 |
|
|
Yelp, Inc.(b)(c) |
|
|
18,345 |
|
|
|
773,975 |
|
|
Ziff Davis, Inc.(b)(c) |
|
|
12,410 |
|
|
|
750,308 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
102,697,756 |
|
|
|
|
|
|
|
|
|
|
|
Internet Services &
Infrastructure-5.97% |
|
|
|
|
|
|
Akamai Technologies, Inc.(b) |
|
|
40,503 |
|
|
|
4,185,175 |
|
|
Brightcove, Inc.(b)(c) |
|
|
11,547 |
|
|
|
35,565 |
|
|
Fastly, Inc., Class A(b)(c) |
|
|
34,494 |
|
|
|
506,027 |
|
|
GoDaddy, Inc., Class A(b)(c) |
|
|
39,197 |
|
|
|
2,870,396 |
|
|
Okta, Inc.(b)(c) |
|
|
41,849 |
|
|
|
2,821,041 |
|
|
Shopify, Inc., Class A (Canada)(b) |
|
|
321,309 |
|
|
|
15,162,572 |
|
|
VeriSign, Inc.(b) |
|
|
27,534 |
|
|
|
5,497,439 |
|
|
Wix.com Ltd. (Israel)(b) |
|
|
15,157 |
|
|
|
1,211,044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,289,259 |
|
|
|
|
|
|
|
|
|
|
|
Movies & Entertainment-10.27% |
|
|
|
|
|
|
Netflix, Inc.(b) |
|
|
54,014 |
|
|
|
22,237,024 |
|
|
Roku, Inc., Class A(b)(c) |
|
|
33,128 |
|
|
|
1,973,435 |
|
|
Spotify Technology S.A.(b) |
|
|
51,640 |
|
|
|
8,508,206 |
|
|
Walt Disney Co. (The)(b) |
|
|
279,930 |
|
|
|
22,839,489 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55,558,154 |
|
|
|
|
|
|
|
|
|
|
|
Other Specialty Retail-0.13% |
|
|
|
|
|
|
1-800-Flowers.com, Inc., Class A(b)(c) |
|
|
10,069 |
|
|
|
75,618 |
|
|
Chewy, Inc., Class A(b)(c) |
|
|
31,810 |
|
|
|
614,887 |
|
|
PetMed Express, Inc.(c) |
|
|
5,646 |
|
|
|
38,901 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
729,406 |
|
|
|
|
|
|
|
|
|
|
|
Passenger Ground Transportation-4.14% |
|
|
|
|
|
|
Lyft, Inc., Class A(b)(c) |
|
|
100,822 |
|
|
|
924,538 |
|
|
Uber Technologies, Inc.(b) |
|
|
495,965 |
|
|
|
21,465,365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,389,903 |
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Invesco NASDAQ Internet ETF (PNQI)–(continued)
October 31, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
|
Real Estate Services-1.81% |
|
|
|
|
|
|
|
|
|
CoStar Group, Inc.(b) |
|
|
109,016 |
|
|
$ |
8,002,865 |
|
|
Redfin Corp.(b)(c) |
|
|
30,431 |
|
|
|
141,808 |
|
|
Zillow Group, Inc., Class C(b)(c) |
|
|
45,366 |
|
|
|
1,644,518 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,789,191 |
|
|
|
|
|
|
|
|
|
|
|
Restaurants-1.35% |
|
|
|
|
|
|
|
|
|
DoorDash, Inc., Class A(b)(c) |
|
|
97,669 |
|
|
|
7,320,292 |
|
|
|
|
|
|
|
|
|
|
|
|
Systems Software-9.14% |
|
|
Gitlab, Inc., Class A(b)(c) |
|
|
25,737 |
|
|
|
1,113,897 |
|
|
Microsoft Corp. |
|
|
142,937 |
|
|
|
48,328,429 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
49,442,326 |
|
|
|
|
|
|
|
|
|
|
|
Transaction & Payment Processing
Services-2.94% |
|
|
Dlocal Ltd. (Uruguay)(b)(c) |
|
|
43,316 |
|
|
|
729,874 |
|
|
PayPal Holdings, Inc.(b) |
|
|
293,151 |
|
|
|
15,185,222 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,915,096 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN
SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.07%
(Cost $582,572,005) |
|
|
|
541,572,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value |
|
| Investments Purchased with Cash Collateral
from Securities on Loan |
|
|
Money Market Funds-10.37% |
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund,
5.32%(d)(e)(f) |
|
|
15,740,379 |
|
|
$ |
15,740,379 |
|
|
Invesco Private Prime Fund, 5.53%(d)(e)(f) |
|
|
40,397,775 |
|
|
|
40,401,815 |
|
|
|
|
|
|
|
|
|
|
|
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $56,141,715) |
|
|
|
56,142,194 |
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS IN SECURITIES-110.44%
(Cost
$638,713,720) |
|
|
|
597,715,117 |
|
|
OTHER ASSETS LESS LIABILITIES-(10.44)% |
|
|
|
(56,499,948 |
) |
|
|
|
|
|
|
|
|
|
|
NET ASSETS-100.00%. |
|
|
|
|
|
$ |
541,215,169 |
|
|
|
|
|
|
|
|
|
|
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 October 31, 2023. |
| (d) |
Affiliated holding. Affiliated holdings are
investments in entities which are under common ownership or control of
Invesco Ltd. or are investments in entities in which the Fund owns 5% or
more of the outstanding voting securities. The table below shows the
Fund’s transactions in, and earnings from, its investments in affiliates
for the six months ended October 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Value
April 30, 2023 |
|
Purchases
at Cost |
|
Proceeds
from Sales |
|
Change
in
Unrealized
Appreciation |
|
Realized
Gain |
|
Value
October 31, 2023 |
|
Dividend
Income |
|
|
|
|
|
|
|
|
| Investments in Affiliated Money
Market Funds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Invesco Government &
Agency Portfolio, Institutional Class |
|
|
$ |
- |
|
|
|
$ |
696,593 |
|
|
|
$ |
(696,593 |
) |
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
- |
|
|
|
$ |
1,408 |
|
|
|
|
|
|
|
|
|
| Investments Purchased with Cash Collateral
from Securities on Loan: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Invesco Private Government
Fund |
|
|
|
8,626,317 |
|
|
|
|
188,077,913 |
|
|
|
|
(180,963,851 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
15,740,379 |
|
|
|
|
373,930 |
* |
|
|
|
|
|
|
|
|
| Invesco Private Prime
Fund |
|
|
|
22,188,871 |
|
|
|
|
359,017,306 |
|
|
|
|
(340,811,707 |
) |
|
|
|
479 |
|
|
|
|
6,866 |
|
|
|
|
40,401,815 |
|
|
|
|
973,086 |
* |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
$ |
30,815,188 |
|
|
|
$ |
547,791,812 |
|
|
|
$ |
(522,472,151 |
) |
|
|
$ |
479 |
|
|
|
$ |
6,866 |
|
|
|
$ |
56,142,194 |
|
|
|
$ |
1,348,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| * |
Represents the income earned on the
investment of cash collateral, which is included in securities lending
income on the Statements of Operations. Does not include rebates and fees
paid to lending agent or premiums received from borrowers, if any.
|
| (e) |
The rate shown is the 7-day SEC
standardized yield as of October 31, 2023.
|
| (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.
Invesco NASDAQ Internet ETF (PNQI)–(continued)
October 31, 2023
(Unaudited)
Portfolio Composition
Sub-Industry
Breakdown (% of the Fund’s Net Assets)
as
of October 31, 2023
|
|
|
|
|
|
|
|
|
| |
|
|
|
Interactive Media & Services |
|
|
18.98 |
|
|
|
|
|
|
|
|
|
Broadline Retail |
|
|
17.10 |
|
|
|
|
|
|
|
|
|
Application Software |
|
|
15.67 |
|
|
|
|
|
|
|
|
|
Movies & Entertainment |
|
|
10.27 |
|
|
|
|
|
|
|
|
|
Systems Software |
|
|
9.14 |
|
|
|
|
|
|
|
|
|
Hotels, Resorts & Cruise Lines |
|
|
7.71 |
|
|
|
|
|
|
|
|
|
Internet Services & Infrastructure |
|
|
5.97 |
|
|
|
|
|
|
|
|
|
Passenger Ground Transportation |
|
|
4.14 |
|
|
|
|
|
|
|
|
|
Sub-Industry Types Each Less Than 3% |
|
|
11.09 |
|
|
|
|
|
|
|
|
|
Money Market Funds Plus Other Assets
Less Liabilities |
|
|
(0.07 |
) |
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Statements of Assets and Liabilities
October 31, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Invesco
Dorsey Wright
Basic Materials
Momentum
ETF (PYZ) |
|
Invesco
Dorsey Wright
Consumer Cyclicals
Momentum
ETF (PEZ) |
|
|
Invesco
Dorsey Wright
Consumer Staples
Momentum
ETF (PSL) |
|
Invesco
Dorsey Wright
Energy
Momentum
ETF (PXI) |
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaffiliated investments in securities, at value(a) |
|
|
|
|
|
$ |
99,641,972 |
|
|
|
|
|
|
|
|
$ |
16,354,379 |
|
|
|
|
|
|
|
|
$ |
75,149,591 |
|
|
|
|
$ |
113,783,873 |
|
|
Affiliated investments in securities, at value |
|
|
|
|
|
|
24,492,151 |
|
|
|
|
|
|
|
|
|
4,184,883 |
|
|
|
|
|
|
|
|
|
16,669,125 |
|
|
|
|
|
24,540,696 |
|
|
Receivable for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends |
|
|
|
|
|
|
117,519 |
|
|
|
|
|
|
|
|
|
5,023 |
|
|
|
|
|
|
|
|
|
27,117 |
|
|
|
|
|
124,389 |
|
|
Securities lending |
|
|
|
|
|
|
2,598 |
|
|
|
|
|
|
|
|
|
2,533 |
|
|
|
|
|
|
|
|
|
1,786 |
|
|
|
|
|
2,811 |
|
|
Investments sold |
|
|
|
|
|
|
1,475,977 |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
Expenses absorbed |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
109 |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
Other assets. |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
14,635 |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
|
|
|
125,730,217 |
|
|
|
|
|
|
|
|
|
20,561,562 |
|
|
|
|
|
|
|
|
|
91,847,619 |
|
|
|
|
|
138,451,769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Due to custodian |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
Payable for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Collateral upon return of securities loaned |
|
|
|
|
|
|
24,347,610 |
|
|
|
|
|
|
|
|
|
4,073,193 |
|
|
|
|
|
|
|
|
|
16,440,131 |
|
|
|
|
|
24,362,638 |
|
|
Fund shares repurchased |
|
|
|
|
|
|
1,476,372 |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
Accrued unitary management fees |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
- |
|
|
Accrued advisory fees |
|
|
|
|
|
|
40,862 |
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
21,531 |
|
|
|
|
|
35,966 |
|
|
Accrued trustees’ and officer’s fees |
|
|
|
|
|
|
55,359 |
|
|
|
|
|
|
|
|
|
50,345 |
|
|
|
|
|
|
|
|
|
56,485 |
|
|
|
|
|
61,814 |
|
|
Accrued expenses |
|
|
|
|
|
|
154,417 |
|
|
|
|
|
|
|
|
|
106,367 |
|
|
|
|
|
|
|
|
|
134,347 |
|
|
|
|
|
124,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
|
|
|
|
26,074,620 |
|
|
|
|
|
|
|
|
|
4,229,905 |
|
|
|
|
|
|
|
|
|
16,652,494 |
|
|
|
|
|
24,584,830 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
|
|
|
|
|
$ |
99,655,597 |
|
|
|
|
|
|
|
|
$ |
16,331,657 |
|
|
|
|
|
|
|
|
$ |
75,195,125 |
|
|
|
|
$ |
113,866,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets consist of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares of beneficial interest |
|
|
|
|
|
$ |
201,430,483 |
|
|
|
|
|
|
|
|
$ |
102,833,408 |
|
|
|
|
|
|
|
|
$ |
190,837,063 |
|
|
|
|
$ |
310,440,330 |
|
|
Distributable earnings (loss) |
|
|
|
|
|
|
(101,774,886 |
) |
|
|
|
|
|
|
|
|
(86,501,751 |
) |
|
|
|
|
|
|
|
|
(115,641,938 |
) |
|
|
|
|
(196,573,391 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets |
|
|
|
|
|
$ |
99,655,597 |
|
|
|
|
|
|
|
|
$ |
16,331,657 |
|
|
|
|
|
|
|
|
$ |
75,195,125 |
|
|
|
|
$ |
113,866,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding (unlimited amount authorized, $0.01 par
value) |
|
|
|
|
|
|
1,350,000 |
|
|
|
|
|
|
|
|
|
270,000 |
|
|
|
|
|
|
|
|
|
950,000 |
|
|
|
|
|
2,630,000 |
|
|
Net asset value |
|
|
|
|
|
$ |
73.82 |
|
|
|
|
|
|
|
|
$ |
60.49 |
|
|
|
|
|
|
|
|
$ |
79.15 |
|
|
|
|
|
$43.30 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price |
|
|
|
|
|
$ |
73.80 |
|
|
|
|
|
|
|
|
$ |
60.53 |
|
|
|
|
|
|
|
|
$ |
79.16 |
|
|
|
|
|
$43.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaffiliated investments in securities, at
cost |
|
|
|
|
|
$ |
101,723,740 |
|
|
|
|
|
|
|
|
$ |
16,968,373 |
|
|
|
|
|
|
|
|
$ |
73,191,054 |
|
|
|
|
$ |
108,471,822 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliated investments in securities, at cost |
|
|
|
|
|
$ |
24,492,212 |
|
|
|
|
|
|
|
|
$ |
4,184,858 |
|
|
|
|
|
|
|
|
$ |
16,668,966 |
|
|
|
|
$ |
24,540,147 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
Includes securities on loan with an aggregate value
of: |
|
|
|
|
|
$ |
23,776,476 |
|
|
|
|
|
|
|
|
$ |
4,039,963 |
|
|
|
|
|
|
|
|
$ |
15,862,818 |
|
|
|
|
$ |
23,683,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco
Dorsey Wright
Financial
Momentum
ETF (PFI) |
|
Invesco
Dorsey Wright
Healthcare
Momentum
ETF (PTH) |
|
Invesco
Dorsey Wright
Industrials
Momentum
ETF (PRN) |
|
Invesco
Dorsey Wright
Technology
Momentum
ETF (PTF) |
|
Invesco
Dorsey Wright
Utilities
Momentum
ETF (PUI) |
|
Invesco
NASDAQ
Internet
ETF (PNQI) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
24,966,812 |
|
|
|
$ |
114,315,464 |
|
|
|
$ |
134,599,648 |
|
|
|
$ |
284,449,091 |
|
|
|
$ |
34,407,249 |
|
|
|
$ |
541,572,923 |
|
| |
|
5,108,472 |
|
|
|
|
36,624,706 |
|
|
|
|
8,439,162 |
|
|
|
|
36,813,050 |
|
|
|
|
3,579,348 |
|
|
|
|
56,142,194 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
11,741 |
|
|
|
|
1,618 |
|
|
|
|
116,814 |
|
|
|
|
53,791 |
|
|
|
|
70,510 |
|
|
|
|
287 |
|
| |
|
658 |
|
|
|
|
6,778 |
|
|
|
|
1,245 |
|
|
|
|
8,456 |
|
|
|
|
316 |
|
|
|
|
6,039 |
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
| |
|
10,725 |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
30,098,408 |
|
|
|
|
150,948,566 |
|
|
|
|
143,156,869 |
|
|
|
|
321,324,388 |
|
|
|
|
38,057,423 |
|
|
|
|
597,721,443 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
85,620 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
4,968,770 |
|
|
|
|
36,299,253 |
|
|
|
|
8,267,151 |
|
|
|
|
36,491,347 |
|
|
|
|
3,441,160 |
|
|
|
|
56,141,715 |
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
278,939 |
|
| |
|
4,452 |
|
|
|
|
36,038 |
|
|
|
|
56,891 |
|
|
|
|
105,516 |
|
|
|
|
5,649 |
|
|
|
|
- |
|
| |
|
49,830 |
|
|
|
|
62,636 |
|
|
|
|
56,587 |
|
|
|
|
56,240 |
|
|
|
|
53,020 |
|
|
|
|
- |
|
| |
|
102,930 |
|
|
|
|
184,538 |
|
|
|
|
119,189 |
|
|
|
|
239,420 |
|
|
|
|
89,573 |
|
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
5,125,982 |
|
|
|
|
36,582,465 |
|
|
|
|
8,499,818 |
|
|
|
|
36,892,523 |
|
|
|
|
3,589,402 |
|
|
|
|
56,506,274 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
24,972,426 |
|
|
|
$ |
114,366,101 |
|
|
|
$ |
134,657,051 |
|
|
|
$ |
284,431,865 |
|
|
|
$ |
34,468,021 |
|
|
|
$ |
541,215,169 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
71,683,745 |
|
|
|
$ |
471,430,557 |
|
|
|
$ |
238,392,293 |
|
|
|
$ |
471,734,324 |
|
|
|
$ |
71,660,423 |
|
|
|
$ |
761,644,565 |
|
| |
|
(46,711,319 |
) |
|
|
|
(357,064,456 |
) |
|
|
|
(103,735,242 |
) |
|
|
|
(187,302,459 |
) |
|
|
|
(37,192,402 |
) |
|
|
|
(220,429,396 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
24,972,426 |
|
|
|
$ |
114,366,101 |
|
|
|
$ |
134,657,051 |
|
|
|
$ |
284,431,865 |
|
|
|
$ |
34,468,021 |
|
|
|
$ |
541,215,169 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
630,000 |
|
|
|
|
3,780,000 |
|
|
|
|
1,400,000 |
|
|
|
|
6,920,000 |
|
|
|
|
1,150,000 |
|
|
|
|
18,080,000 |
|
| |
$ |
39.64 |
|
|
|
$ |
30.26 |
|
|
|
$ |
96.18 |
|
|
|
$ |
41.10 |
|
|
|
$ |
29.97 |
|
|
|
$ |
29.93 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
39.63 |
|
|
|
$ |
30.26 |
|
|
|
$ |
96.06 |
|
|
|
$ |
41.09 |
|
|
|
$ |
29.98 |
|
|
|
$ |
29.96 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
24,269,866 |
|
|
|
$ |
125,885,385 |
|
|
|
$ |
123,392,676 |
|
|
|
$ |
287,126,453 |
|
|
|
$ |
38,953,138 |
|
|
|
$ |
582,572,005 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
5,108,395 |
|
|
|
$ |
36,624,637 |
|
|
|
$ |
8,439,481 |
|
|
|
$ |
36,813,050 |
|
|
|
$ |
3,579,299 |
|
|
|
$ |
56,141,715 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
4,893,738 |
|
|
|
$ |
36,603,537 |
|
|
|
$ |
8,172,872 |
|
|
|
$ |
36,363,961 |
|
|
|
$ |
3,454,985 |
|
|
|
$ |
55,014,370 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Operations
For the six months ended October 31, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Invesco
Dorsey Wright
Basic Materials
Momentum
ETF (PYZ) |
|
|
|
Invesco
Dorsey Wright
Consumer Cyclicals
Momentum
ETF (PEZ) |
|
|
|
Invesco
Dorsey Wright
Consumer Staples
Momentum
ETF (PSL) |
|
|
|
Invesco
Dorsey Wright
Energy
Momentum
ETF
(PXI) |
|
Investment income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaffiliated dividend income |
|
|
$ |
1,256,191 |
|
|
|
|
|
$ |
98,502 |
|
|
|
|
|
$ |
769,613 |
|
|
|
|
|
$ |
1,053,982 |
|
|
Affiliated dividend income |
|
|
|
5,646 |
|
|
|
|
|
|
3,795 |
|
|
|
|
|
|
5,210 |
|
|
|
|
|
|
4,619 |
|
|
Securities lending income, net |
|
|
|
21,107 |
|
|
|
|
|
|
15,835 |
|
|
|
|
|
|
9,142 |
|
|
|
|
|
|
65,815 |
|
|
Foreign withholding tax |
|
|
|
(509 |
) |
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment income |
|
|
|
1,282,435 |
|
|
|
|
|
|
118,132 |
|
|
|
|
|
|
783,965 |
|
|
|
|
|
|
1,124,416 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unitary management fees |
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
Advisory fees |
|
|
|
368,665 |
|
|
|
|
|
|
51,120 |
|
|
|
|
|
|
265,702 |
|
|
|
|
|
|
234,841 |
|
|
Sub-licensing fees |
|
|
|
110,601 |
|
|
|
|
|
|
15,336 |
|
|
|
|
|
|
79,711 |
|
|
|
|
|
|
70,453 |
|
|
Accounting & administration fees |
|
|
|
10,108 |
|
|
|
|
|
|
7,113 |
|
|
|
|
|
|
10,178 |
|
|
|
|
|
|
13,479 |
|
|
Professional fees |
|
|
|
18,217 |
|
|
|
|
|
|
20,950 |
|
|
|
|
|
|
19,824 |
|
|
|
|
|
|
20,059 |
|
|
Custodian & transfer agent fees |
|
|
|
2,216 |
|
|
|
|
|
|
1,489 |
|
|
|
|
|
|
3,503 |
|
|
|
|
|
|
1,828 |
|
|
Trustees’ and officer’s fees |
|
|
|
5,388 |
|
|
|
|
|
|
4,765 |
|
|
|
|
|
|
5,281 |
|
|
|
|
|
|
5,575 |
|
|
Other expenses |
|
|
|
14,585 |
|
|
|
|
|
|
11,900 |
|
|
|
|
|
|
13,649 |
|
|
|
|
|
|
15,805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses |
|
|
|
529,780 |
|
|
|
|
|
|
112,673 |
|
|
|
|
|
|
397,848 |
|
|
|
|
|
|
362,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: Waivers |
|
|
|
(87,503 |
) |
|
|
|
|
|
(51,404 |
) |
|
|
|
|
|
(79,117 |
) |
|
|
|
|
|
(80,331 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net expenses |
|
|
|
442,277 |
|
|
|
|
|
|
61,269 |
|
|
|
|
|
|
318,731 |
|
|
|
|
|
|
281,709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
|
|
840,158 |
|
|
|
|
|
|
56,863 |
|
|
|
|
|
|
465,234 |
|
|
|
|
|
|
842,707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized and unrealized gain (loss)
from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain (loss) from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaffiliated investment securities |
|
|
|
(4,021,973 |
) |
|
|
|
|
|
(246,909 |
) |
|
|
|
|
|
(3,405,975 |
) |
|
|
|
|
|
(18,713 |
) |
|
Affiliated investment securities |
|
|
|
424 |
|
|
|
|
|
|
225 |
|
|
|
|
|
|
343 |
|
|
|
|
|
|
937 |
|
|
In-kind redemptions |
|
|
|
3,176,134 |
|
|
|
|
|
|
162,355 |
|
|
|
|
|
|
4,702,827 |
|
|
|
|
|
|
2,307,001 |
|
|
Foreign currencies |
|
|
|
5 |
|
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gain (loss) |
|
|
|
(845,410 |
) |
|
|
|
|
|
(84,329 |
) |
|
|
|
|
|
1,297,195 |
|
|
|
|
|
|
2,289,225 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized appreciation (depreciation)
of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaffiliated investment securities |
|
|
|
(14,211,430 |
) |
|
|
|
|
|
(2,434,702 |
) |
|
|
|
|
|
(11,414,184 |
) |
|
|
|
|
|
3,662,780 |
|
|
Affiliated investment securities |
|
|
|
268 |
|
|
|
|
|
|
69 |
|
|
|
|
|
|
174 |
|
|
|
|
|
|
549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Change in net unrealized appreciation
(depreciation) |
|
|
|
(14,211,162 |
) |
|
|
|
|
|
(2,434,633 |
) |
|
|
|
|
|
(11,414,010 |
) |
|
|
|
|
|
3,663,329 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized and unrealized gain (loss) |
|
|
|
(15,056,572 |
) |
|
|
|
|
|
(2,518,962 |
) |
|
|
|
|
|
(10,116,815 |
) |
|
|
|
|
|
5,952,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from
operations |
|
|
$ |
(14,216,414 |
) |
|
|
|
|
$ |
(2,462,099 |
) |
|
|
|
|
$ |
(9,651,581 |
) |
|
|
|
|
$ |
6,795,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco
Dorsey Wright
Financial
Momentum
ETF
(PFI) |
|
Invesco
Dorsey Wright
Healthcare
Momentum
ETF
(PTH) |
|
Invesco
Dorsey Wright
Industrials
Momentum
ETF
(PRN) |
|
Invesco
Dorsey Wright
Technology
Momentum
ETF
(PTF) |
|
Invesco
Dorsey Wright
Utilities
Momentum
ETF
(PUI) |
|
Invesco
NASDAQ
Internet
ETF
(PNQI) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
279,614 |
|
|
|
$ |
60,854 |
|
|
|
$ |
789,825 |
|
|
|
$ |
452,408 |
|
|
|
$ |
643,388 |
|
|
|
$ |
347,401 |
|
| |
|
3,554 |
|
|
|
|
7,114 |
|
|
|
|
5,057 |
|
|
|
|
9,102 |
|
|
|
|
2,818 |
|
|
|
|
1,408 |
|
| |
|
39,209 |
|
|
|
|
59,541 |
|
|
|
|
8,293 |
|
|
|
|
579,205 |
|
|
|
|
2,361 |
|
|
|
|
44,568 |
|
| |
|
(278 |
) |
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
(5,056 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
322,099 |
|
|
|
|
127,509 |
|
|
|
|
803,175 |
|
|
|
|
1,040,715 |
|
|
|
|
648,567 |
|
|
|
|
388,321 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
1,707,990 |
|
| |
|
69,687 |
|
|
|
|
396,174 |
|
|
|
|
358,987 |
|
|
|
|
734,114 |
|
|
|
|
97,114 |
|
|
|
|
- |
|
| |
|
6,969 |
|
|
|
|
118,853 |
|
|
|
|
37,391 |
|
|
|
|
220,237 |
|
|
|
|
29,135 |
|
|
|
|
- |
|
| |
|
8,343 |
|
|
|
|
14,643 |
|
|
|
|
10,080 |
|
|
|
|
12,857 |
|
|
|
|
8,929 |
|
|
|
|
- |
|
| |
|
19,667 |
|
|
|
|
20,075 |
|
|
|
|
19,813 |
|
|
|
|
20,030 |
|
|
|
|
19,664 |
|
|
|
|
- |
|
| |
|
1,709 |
|
|
|
|
1,005 |
|
|
|
|
1,849 |
|
|
|
|
2,005 |
|
|
|
|
1,807 |
|
|
|
|
- |
|
| |
|
4,789 |
|
|
|
|
5,814 |
|
|
|
|
5,331 |
|
|
|
|
5,760 |
|
|
|
|
4,900 |
|
|
|
|
- |
|
| |
|
13,314 |
|
|
|
|
21,968 |
|
|
|
|
15,814 |
|
|
|
|
16,970 |
|
|
|
|
11,510 |
|
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
124,478 |
|
|
|
|
578,532 |
|
|
|
|
449,265 |
|
|
|
|
1,011,973 |
|
|
|
|
173,059 |
|
|
|
|
1,707,990 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(40,924 |
) |
|
|
|
(103,271 |
) |
|
|
|
(18,586 |
) |
|
|
|
(130,301 |
) |
|
|
|
(56,580 |
) |
|
|
|
(27 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
83,554 |
|
|
|
|
475,261 |
|
|
|
|
430,679 |
|
|
|
|
881,672 |
|
|
|
|
116,479 |
|
|
|
|
1,707,963 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
238,545 |
|
|
|
|
(347,752 |
) |
|
|
|
372,496 |
|
|
|
|
159,043 |
|
|
|
|
532,088 |
|
|
|
|
(1,319,642 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(271,781 |
) |
|
|
|
(5,403,603 |
) |
|
|
|
(2,741,465 |
) |
|
|
|
(12,103,456 |
) |
|
|
|
(1,403,332 |
) |
|
|
|
(1,366,843 |
) |
| |
|
551 |
|
|
|
|
3,152 |
|
|
|
|
1,684 |
|
|
|
|
1,565 |
|
|
|
|
424 |
|
|
|
|
6,866 |
|
| |
|
225,867 |
|
|
|
|
1,277,875 |
|
|
|
|
5,845,525 |
|
|
|
|
30,016,253 |
|
|
|
|
(38,847 |
) |
|
|
|
11,183,687 |
|
| |
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(45,363 |
) |
|
|
|
(4,122,576 |
) |
|
|
|
3,105,744 |
|
|
|
|
17,914,362 |
|
|
|
|
(1,441,755 |
) |
|
|
|
9,823,710 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(569,930 |
) |
|
|
|
(34,937,406 |
) |
|
|
|
(1,073,310 |
) |
|
|
|
(19,699,971 |
) |
|
|
|
(2,908,567 |
) |
|
|
|
26,785,322 |
|
| |
|
175 |
|
|
|
|
69 |
|
|
|
|
(176 |
) |
|
|
|
1,396 |
|
|
|
|
91 |
|
|
|
|
479 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(569,755 |
) |
|
|
|
(34,937,337 |
) |
|
|
|
(1,073,486 |
) |
|
|
|
(19,698,575 |
) |
|
|
|
(2,908,476 |
) |
|
|
|
26,785,801 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
(615,118 |
) |
|
|
|
(39,059,913 |
) |
|
|
|
2,032,258 |
|
|
|
|
(1,784,213 |
) |
|
|
|
(4,350,231 |
) |
|
|
|
36,609,511 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
$ |
(376,573 |
) |
|
|
$ |
(39,407,665 |
) |
|
|
$ |
2,404,754 |
|
|
|
$ |
(1,625,170 |
) |
|
|
$ |
(3,818,143 |
) |
|
|
$ |
35,289,869 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Changes in Net Assets
For the six months ended October 31, 2023 and the year ended
April 30, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Invesco Dorsey Wright
Basic Materials
Momentum ETF
(PYZ) |
|
|
|
|
|
Invesco Dorsey Wright
Consumer Cyclicals
Momentum ETF
(PEZ) |
|
| |
|
Six Months Ended
October 31,
2023 |
|
|
|
|
|
Year Ended
April 30,
2023 |
|
|
|
|
|
Six Months Ended
October 31,
2023 |
|
|
|
|
|
Year Ended
April 30,
2023 |
|
|
Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
|
|
|
|
$ |
840,158 |
|
|
|
|
|
|
|
|
|
|
$ |
1,729,683 |
|
|
|
|
|
|
|
|
|
|
$ |
56,863 |
|
|
|
|
|
|
|
|
|
|
$ |
209,933 |
|
|
Net realized gain (loss) |
|
|
|
|
|
|
(845,410 |
) |
|
|
|
|
|
|
|
|
|
|
(30,343,479 |
) |
|
|
|
|
|
|
|
|
|
|
(84,329 |
) |
|
|
|
|
|
|
|
|
|
|
(7,561,822 |
) |
|
Change in net unrealized appreciation
(depreciation) |
|
|
|
|
|
|
(14,211,162 |
) |
|
|
|
|
|
|
|
|
|
|
2,154,740 |
|
|
|
|
|
|
|
|
|
|
|
(2,434,633 |
) |
|
|
|
|
|
|
|
|
|
|
6,060,368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from
operations |
|
|
|
|
|
|
(14,216,414 |
) |
|
|
|
|
|
|
|
|
|
|
(26,459,056 |
) |
|
|
|
|
|
|
|
|
|
|
(2,462,099 |
) |
|
|
|
|
|
|
|
|
|
|
(1,291,521 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to Shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributable earnings. |
|
|
|
|
|
|
(746,698 |
) |
|
|
|
|
|
|
|
|
|
|
(1,743,728 |
) |
|
|
|
|
|
|
|
|
|
|
(71,528 |
) |
|
|
|
|
|
|
|
|
|
|
(181,785 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholder Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from shares sold |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
58,858,993 |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
Value of shares repurchased. |
|
|
|
|
|
|
(41,917,749 |
) |
|
|
|
|
|
|
|
|
|
|
(61,407,537 |
) |
|
|
|
|
|
|
|
|
|
|
(3,899,740 |
) |
|
|
|
|
|
|
|
|
|
|
(14,479,301 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from share
transactions |
|
|
|
|
|
|
(41,917,749 |
) |
|
|
|
|
|
|
|
|
|
|
(2,548,544 |
) |
|
|
|
|
|
|
|
|
|
|
(3,899,740 |
) |
|
|
|
|
|
|
|
|
|
|
(14,479,301 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets |
|
|
|
|
|
|
(56,880,861 |
) |
|
|
|
|
|
|
|
|
|
|
(30,751,328 |
) |
|
|
|
|
|
|
|
|
|
|
(6,433,367 |
) |
|
|
|
|
|
|
|
|
|
|
(15,952,607 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of period |
|
|
|
|
|
|
156,536,458 |
|
|
|
|
|
|
|
|
|
|
|
187,287,786 |
|
|
|
|
|
|
|
|
|
|
|
22,765,024 |
|
|
|
|
|
|
|
|
|
|
|
38,717,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of period. |
|
|
|
|
|
$ |
99,655,597 |
|
|
|
|
|
|
|
|
|
|
$ |
156,536,458 |
|
|
|
|
|
|
|
|
|
|
$ |
16,331,657 |
|
|
|
|
|
|
|
|
|
|
$ |
22,765,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Shares Outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
690,000 |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
Shares repurchased |
|
|
|
|
|
|
(560,000 |
) |
|
|
|
|
|
|
|
|
|
|
(820,000 |
) |
|
|
|
|
|
|
|
|
|
|
(60,000 |
) |
|
|
|
|
|
|
|
|
|
|
(220,000 |
) |
|
Shares outstanding, beginning of period |
|
|
|
|
|
|
1,910,000 |
|
|
|
|
|
|
|
|
|
|
|
2,040,000 |
|
|
|
|
|
|
|
|
|
|
|
330,000 |
|
|
|
|
|
|
|
|
|
|
|
550,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of period |
|
|
|
|
|
|
1,350,000 |
|
|
|
|
|
|
|
|
|
|
|
1,910,000 |
|
|
|
|
|
|
|
|
|
|
|
270,000 |
|
|
|
|
|
|
|
|
|
|
|
330,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
Changes in shares outstanding have been
restated to reflect a three-for-one stock split effective after the close
of business on July 14, 2023. See Note 9.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Dorsey Wright
Consumer Staples
Momentum ETF
(PSL) |
|
|
Invesco Dorsey Wright Energy
Momentum ETF (PXI) |
|
|
Invesco Dorsey Wright Financial
Momentum ETF
(PFI) |
|
|
Invesco Dorsey Wright Healthcare
Momentum ETF
(PTH) |
|
Six Months Ended
October 31,
2023 |
|
|
Year Ended
April 30,
2023 |
|
|
Six Months Ended
October 31,
2023 |
|
|
Year Ended
April 30,
2023 |
|
|
Six Months Ended
October 31,
2023 |
|
|
Year Ended
April 30,
2023 |
|
|
Six Months Ended
October 31,
2023 |
|
|
Year Ended
April 30,
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
465,234 |
|
|
|
|
|
|
|
|
|
|
$ |
2,471,194 |
|
|
|
|
|
|
|
|
|
|
$ |
842,707 |
|
|
|
|
|
|
|
|
|
|
$ |
7,039,894 |
|
|
|
|
|
|
|
|
|
|
$ |
238,545 |
|
|
|
|
|
|
|
|
|
|
$ |
770,188 |
|
|
|
|
|
|
|
|
|
|
$ |
(347,752 |
) |
|
|
|
|
|
|
|
|
|
$ |
(54,865 |
) |
|
|
|
|
|
|
|
|
|
1,297,195 |
|
|
|
|
|
|
|
|
|
|
|
(7,529,218 |
) |
|
|
|
|
|
|
|
|
|
|
2,289,225 |
|
|
|
|
|
|
|
|
|
|
|
25,657,446 |
|
|
|
|
|
|
|
|
|
|
|
(45,363 |
) |
|
|
|
|
|
|
|
|
|
|
(13,031,256 |
) |
|
|
|
|
|
|
|
|
|
|
(4,122,576 |
) |
|
|
|
|
|
|
|
|
|
|
(54,552,614 |
) |
|
|
|
|
|
|
|
|
|
(11,414,010 |
) |
|
|
|
|
|
|
|
|
|
|
14,035,971 |
|
|
|
|
|
|
|
|
|
|
|
3,663,329 |
|
|
|
|
|
|
|
|
|
|
|
(37,155,265 |
) |
|
|
|
|
|
|
|
|
|
|
(569,755 |
) |
|
|
|
|
|
|
|
|
|
|
6,634,296 |
|
|
|
|
|
|
|
|
|
|
|
(34,937,337 |
) |
|
|
|
|
|
|
|
|
|
|
49,429,729 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9,651,581 |
) |
|
|
|
|
|
|
|
|
|
|
8,977,947 |
|
|
|
|
|
|
|
|
|
|
|
6,795,261 |
|
|
|
|
|
|
|
|
|
|
|
(4,457,925 |
) |
|
|
|
|
|
|
|
|
|
|
(376,573 |
) |
|
|
|
|
|
|
|
|
|
|
(5,626,772 |
) |
|
|
|
|
|
|
|
|
|
|
(39,407,665 |
) |
|
|
|
|
|
|
|
|
|
|
(5,177,750 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(712,219 |
) |
|
|
|
|
|
|
|
|
|
|
(2,475,873 |
) |
|
|
|
|
|
|
|
|
|
|
(992,703 |
) |
|
|
|
|
|
|
|
|
|
|
(7,195,508 |
) |
|
|
|
|
|
|
|
|
|
|
(214,220 |
) |
|
|
|
|
|
|
|
|
|
|
(816,131 |
) |
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
855,388 |
|
|
|
|
|
|
|
|
|
|
|
98,186,163 |
|
|
|
|
|
|
|
|
|
|
|
44,693,219 |
|
|
|
|
|
|
|
|
|
|
|
76,919,560 |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
23,143,715 |
|
|
|
|
|
|
|
|
|
|
|
4,841,301 |
|
|
|
|
|
|
|
|
|
|
|
4,965,922 |
|
|
|
|
|
|
|
|
|
|
(36,793,922 |
) |
|
|
|
|
|
|
|
|
|
|
(82,730,990 |
) |
|
|
|
|
|
|
|
|
|
|
(31,954,196 |
) |
|
|
|
|
|
|
|
|
|
|
(210,643,376 |
) |
|
|
|
|
|
|
|
|
|
|
(3,309,196 |
) |
|
|
|
|
|
|
|
|
|
|
(71,998,070 |
) |
|
|
|
|
|
|
|
|
|
|
(32,211,391 |
) |
|
|
|
|
|
|
|
|
|
|
(92,228,741 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(35,938,534 |
) |
|
|
|
|
|
|
|
|
|
|
15,455,173 |
|
|
|
|
|
|
|
|
|
|
|
12,739,023 |
|
|
|
|
|
|
|
|
|
|
|
(133,723,816 |
) |
|
|
|
|
|
|
|
|
|
|
(3,309,196 |
) |
|
|
|
|
|
|
|
|
|
|
(48,854,355 |
) |
|
|
|
|
|
|
|
|
|
|
(27,370,090 |
) |
|
|
|
|
|
|
|
|
|
|
(87,262,819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(46,302,334 |
) |
|
|
|
|
|
|
|
|
|
|
21,957,247 |
|
|
|
|
|
|
|
|
|
|
|
18,541,581 |
|
|
|
|
|
|
|
|
|
|
|
(145,377,249 |
) |
|
|
|
|
|
|
|
|
|
|
(3,899,989 |
) |
|
|
|
|
|
|
|
|
|
|
(55,297,258 |
) |
|
|
|
|
|
|
|
|
|
|
(66,777,755 |
) |
|
|
|
|
|
|
|
|
|
|
(92,440,569 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
121,497,459 |
|
|
|
|
|
|
|
|
|
|
|
99,540,212 |
|
|
|
|
|
|
|
|
|
|
|
95,325,358 |
|
|
|
|
|
|
|
|
|
|
|
240,702,607 |
|
|
|
|
|
|
|
|
|
|
|
28,872,415 |
|
|
|
|
|
|
|
|
|
|
|
84,169,673 |
|
|
|
|
|
|
|
|
|
|
|
181,143,856 |
|
|
|
|
|
|
|
|
|
|
|
273,584,425 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
75,195,125 |
|
|
|
|
|
|
|
|
|
|
$ |
121,497,459 |
|
|
|
|
|
|
|
|
|
|
$ |
113,866,939 |
|
|
|
|
|
|
|
|
|
|
$ |
95,325,358 |
|
|
|
|
|
|
|
|
|
|
$ |
24,972,426 |
|
|
|
|
|
|
|
|
|
|
$ |
28,872,415 |
|
|
|
|
|
|
|
|
|
|
$ |
114,366,101 |
|
|
|
|
|
|
|
|
|
|
$ |
181,143,856 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000 |
|
|
|
|
|
|
|
|
|
|
|
1,170,000 |
|
|
|
|
|
|
|
|
|
|
|
980,000 |
|
|
|
|
|
|
|
|
|
|
|
1,760,000 |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
580,000 |
|
|
|
|
|
|
|
|
|
|
|
120,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
120,000 |
(a) |
|
|
|
|
|
|
|
|
|
(430,000 |
) |
|
|
|
|
|
|
|
|
|
|
(980,000 |
) |
|
|
|
|
|
|
|
|
|
|
(810,000 |
) |
|
|
|
|
|
|
|
|
|
|
(5,030,000 |
) |
|
|
|
|
|
|
|
|
|
|
(80,000 |
) |
|
|
|
|
|
|
|
|
|
|
(1,720,000 |
) |
|
|
|
|
|
|
|
|
|
|
(870,000 |
)(a) |
|
|
|
|
|
|
|
|
|
|
(2,340,000 |
)(a) |
|
|
|
|
|
|
|
|
|
1,370,000 |
|
|
|
|
|
|
|
|
|
|
|
1,180,000 |
|
|
|
|
|
|
|
|
|
|
|
2,460,000 |
|
|
|
|
|
|
|
|
|
|
|
5,730,000 |
|
|
|
|
|
|
|
|
|
|
|
710,000 |
|
|
|
|
|
|
|
|
|
|
|
1,850,000 |
|
|
|
|
|
|
|
|
|
|
|
4,530,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
6,750,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
950,000 |
|
|
|
|
|
|
|
|
|
|
|
1,370,000 |
|
|
|
|
|
|
|
|
|
|
|
2,630,000 |
|
|
|
|
|
|
|
|
|
|
|
2,460,000 |
|
|
|
|
|
|
|
|
|
|
|
630,000 |
|
|
|
|
|
|
|
|
|
|
|
710,000 |
|
|
|
|
|
|
|
|
|
|
|
3,780,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
4,530,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Statements of Changes in Net Assets–(continued)
For the six months ended October 31, 2023 and the year ended
April 30, 2023
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Invesco
Dorsey Wright Industrials
Momentum ETF (PRN) |
|
|
|
|
|
Invesco
Dorsey Wright Technology
Momentum ETF (PTF) |
|
|
|
|
|
|
|
|
|
| |
|
Six Months
Ended
October 31,
2023 |
|
|
|
|
|
Year Ended
April 30,
2023 |
|
|
|
|
|
Six Months
Ended
October 31,
2023 |
|
|
|
|
|
Year
Ended
April 30,
2023 |
|
|
Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss) |
|
|
|
|
|
$ |
372,496 |
|
|
|
|
|
|
|
|
|
|
$ |
1,113,796 |
|
|
|
|
|
|
|
|
|
|
$ |
159,043 |
|
|
|
|
|
|
|
|
|
|
$ |
(331,545 |
) |
|
Net realized gain (loss) |
|
|
|
|
|
|
3,105,744 |
|
|
|
|
|
|
|
|
|
|
|
(18,599,168 |
) |
|
|
|
|
|
|
|
|
|
|
17,914,362 |
|
|
|
|
|
|
|
|
|
|
|
(41,601,206 |
) |
|
Change in net unrealized appreciation
(depreciation) |
|
|
|
|
|
|
(1,073,486 |
) |
|
|
|
|
|
|
|
|
|
|
24,217,473 |
|
|
|
|
|
|
|
|
|
|
|
(19,698,575 |
) |
|
|
|
|
|
|
|
|
|
|
47,164,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from
operations |
|
|
|
|
|
|
2,404,754 |
|
|
|
|
|
|
|
|
|
|
|
6,732,101 |
|
|
|
|
|
|
|
|
|
|
|
(1,625,170 |
) |
|
|
|
|
|
|
|
|
|
|
5,231,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to Shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributable earnings |
|
|
|
|
|
|
(323,365 |
) |
|
|
|
|
|
|
|
|
|
|
(1,148,969 |
) |
|
|
|
|
|
|
|
|
|
|
(221,495 |
) |
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholder Transactions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from shares sold |
|
|
|
|
|
|
34,332,888 |
|
|
|
|
|
|
|
|
|
|
|
24,825,901 |
|
|
|
|
|
|
|
|
|
|
|
164,597,424 |
|
|
|
|
|
|
|
|
|
|
|
113,251,506 |
|
|
Value of shares repurchased |
|
|
|
|
|
|
(30,200,667 |
) |
|
|
|
|
|
|
|
|
|
|
(75,874,027 |
) |
|
|
|
|
|
|
|
|
|
|
(108,615,761 |
) |
|
|
|
|
|
|
|
|
|
|
(93,625,586 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets resulting from share
transactions |
|
|
|
|
|
|
4,132,221 |
|
|
|
|
|
|
|
|
|
|
|
(51,048,126 |
) |
|
|
|
|
|
|
|
|
|
|
55,981,663 |
|
|
|
|
|
|
|
|
|
|
|
19,625,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in net assets |
|
|
|
|
|
|
6,213,610 |
|
|
|
|
|
|
|
|
|
|
|
(45,464,994 |
) |
|
|
|
|
|
|
|
|
|
|
54,134,998 |
|
|
|
|
|
|
|
|
|
|
|
24,857,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning of period |
|
|
|
|
|
|
128,443,441 |
|
|
|
|
|
|
|
|
|
|
|
173,908,435 |
|
|
|
|
|
|
|
|
|
|
|
230,296,867 |
|
|
|
|
|
|
|
|
|
|
|
205,439,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
End of period |
|
|
|
|
|
$ |
134,657,051 |
|
|
|
|
|
|
|
|
|
|
$ |
128,443,441 |
|
|
|
|
|
|
|
|
|
|
$ |
284,431,865 |
|
|
|
|
|
|
|
|
|
|
$ |
230,296,867 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in Shares Outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares sold |
|
|
|
|
|
|
330,000 |
|
|
|
|
|
|
|
|
|
|
|
290,000 |
|
|
|
|
|
|
|
|
|
|
|
3,440,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
2,760,000 |
(a) |
|
Shares repurchased |
|
|
|
|
|
|
(290,000 |
) |
|
|
|
|
|
|
|
|
|
|
(850,000 |
) |
|
|
|
|
|
|
|
|
|
|
(2,250,000 |
)(a) |
|
|
|
|
|
|
|
|
|
|
(2,250,000 |
)(a) |
|
Shares outstanding, beginning of period |
|
|
|
|
|
|
1,360,000 |
|
|
|
|
|
|
|
|
|
|
|
1,920,000 |
|
|
|
|
|
|
|
|
|
|
|
5,730,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
5,220,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding, end of period. |
|
|
|
|
|
|
1,400,000 |
|
|
|
|
|
|
|
|
|
|
|
1,360,000 |
|
|
|
|
|
|
|
|
|
|
|
6,920,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
5,730,000 |
(a) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
Changes in shares outstanding have been
restated to reflect a three-for-one stock split effective after the close
of business on July 14, 2023. See Note 9.
|
| (b) |
Changes in shares outstanding have been
restated to reflect a five-for-one stock split effective after the close
of business on July 14, 2023. See Note 9.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Invesco Dorsey Wright Utilities
Momentum ETF (PUI) |
|
|
Invesco NASDAQ
Internet ETF (PNQI) |
|
|
|
|
|
Six Months Ended
October 31,
2023 |
|
|
Year Ended
April 30,
2023 |
|
|
Six Months Ended
October 31,
2023 |
|
|
Year
Ended
April 30,
2023 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
532,088 |
|
|
|
|
|
|
|
|
|
|
$ |
1,283,665 |
|
|
|
|
|
|
|
|
|
|
$ |
(1,319,642 |
) |
|
|
|
|
|
|
|
|
|
$ |
(1,780,807 |
) |
|
|
|
|
|
|
|
|
|
(1,441,755 |
) |
|
|
|
|
|
|
|
|
|
|
(445,429 |
) |
|
|
|
|
|
|
|
|
|
|
9,823,710 |
|
|
|
|
|
|
|
|
|
|
|
(22,366,491 |
) |
|
|
|
|
|
|
|
|
|
(2,908,476 |
) |
|
|
|
|
|
|
|
|
|
|
(5,695,722 |
) |
|
|
|
|
|
|
|
|
|
|
26,785,801 |
|
|
|
|
|
|
|
|
|
|
|
24,295,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3,818,143 |
) |
|
|
|
|
|
|
|
|
|
|
(4,857,486 |
) |
|
|
|
|
|
|
|
|
|
|
35,289,869 |
|
|
|
|
|
|
|
|
|
|
|
148,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(515,048 |
) |
|
|
|
|
|
|
|
|
|
|
(1,259,429 |
) |
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
45,958,102 |
|
|
|
|
|
|
|
|
|
|
|
17,760,805 |
|
|
|
|
|
|
|
|
|
|
|
106,828,408 |
|
|
|
|
|
|
|
|
|
|
(4,508,286 |
) |
|
|
|
|
|
|
|
|
|
|
(52,293,542 |
) |
|
|
|
|
|
|
|
|
|
|
(40,120,081 |
) |
|
|
|
|
|
|
|
|
|
|
(135,609,435 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4,508,286 |
) |
|
|
|
|
|
|
|
|
|
|
(6,335,440 |
) |
|
|
|
|
|
|
|
|
|
|
(22,359,276 |
) |
|
|
|
|
|
|
|
|
|
|
(28,781,027 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,841,477 |
) |
|
|
|
|
|
|
|
|
|
|
(12,452,355 |
) |
|
|
|
|
|
|
|
|
|
|
12,930,593 |
|
|
|
|
|
|
|
|
|
|
|
(28,632,965 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
43,309,498 |
|
|
|
|
|
|
|
|
|
|
|
55,761,853 |
|
|
|
|
|
|
|
|
|
|
|
528,284,576 |
|
|
|
|
|
|
|
|
|
|
|
556,917,541 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
34,468,021 |
|
|
|
|
|
|
|
|
|
|
$ |
43,309,498 |
|
|
|
|
|
|
|
|
|
|
$ |
541,215,169 |
|
|
|
|
|
|
|
|
|
|
$ |
528,284,576 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
1,250,000 |
|
|
|
|
|
|
|
|
|
|
|
610,000 |
(b) |
|
|
|
|
|
|
|
|
|
|
4,350,000 |
(b) |
|
|
|
|
|
|
|
|
|
(140,000 |
) |
|
|
|
|
|
|
|
|
|
|
(1,540,000 |
) |
|
|
|
|
|
|
|
|
|
|
(1,330,000 |
)(b) |
|
|
|
|
|
|
|
|
|
|
(5,450,000 |
)(b) |
|
|
|
|
|
|
|
|
|
1,290,000 |
|
|
|
|
|
|
|
|
|
|
|
1,580,000 |
|
|
|
|
|
|
|
|
|
|
|
18,800,000 |
(b) |
|
|
|
|
|
|
|
|
|
|
19,900,000 |
(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,150,000 |
|
|
|
|
|
|
|
|
|
|
|
1,290,000 |
|
|
|
|
|
|
|
|
|
|
|
18,080,000 |
(b) |
|
|
|
|
|
|
|
|
|
|
18,800,000 |
(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Highlights
Invesco Dorsey Wright Basic Materials Momentum ETF (PYZ)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
81.96 |
|
|
|
|
|
|
$ |
91.81 |
|
|
$ |
85.67 |
|
|
$ |
47.51 |
|
|
$ |
60.49 |
|
|
$ |
66.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.47 |
|
|
|
|
|
|
|
1.00 |
|
|
|
0.35 |
|
|
|
0.47 |
|
|
|
0.79 |
|
|
|
0.72 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(8.20 |
) |
|
|
|
|
|
|
(9.87 |
) |
|
|
6.16 |
|
|
|
38.31 |
|
|
|
(12.77 |
) |
|
|
(6.30 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
(7.73 |
) |
|
|
|
|
|
|
(8.87 |
) |
|
|
6.51 |
|
|
|
38.78 |
|
|
|
(11.98 |
) |
|
|
(5.58 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.41 |
) |
|
|
|
|
|
|
(0.98 |
) |
|
|
(0.37 |
) |
|
|
(0.62 |
) |
|
|
(1.00 |
) |
|
|
(0.67 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
73.82 |
|
|
|
|
|
|
$ |
81.96 |
|
|
$ |
91.81 |
|
|
$ |
85.67 |
|
|
$ |
47.51 |
|
|
$ |
60.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(b) |
|
|
|
|
|
$ |
73.80 |
|
|
|
|
|
|
$ |
81.92 |
|
|
$ |
91.90 |
|
|
$ |
85.68 |
|
|
$ |
47.63 |
|
|
$ |
60.48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(c) |
|
|
|
|
|
|
(9.47 |
)% |
|
|
|
|
|
|
(9.61 |
)% |
|
|
7.61 |
% |
|
|
82.25 |
% |
|
|
(19.95 |
)% |
|
|
(8.36 |
)% |
|
Market Price Total Return(c) |
|
|
|
|
|
|
(9.45 |
)% |
|
|
|
|
|
|
(9.74 |
)% |
|
|
7.70 |
% |
|
|
81.80 |
% |
|
|
(19.74 |
)% |
|
|
(8.46 |
)% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
99,656 |
|
|
|
|
|
|
$ |
156,536 |
|
|
$ |
187,288 |
|
|
$ |
114,802 |
|
|
$ |
35,634 |
|
|
$ |
63,518 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(d) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.61 |
%(e) |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.72 |
%(d) |
|
|
|
|
|
|
0.73 |
% |
|
|
0.70 |
% |
|
|
0.82 |
% |
|
|
0.79 |
%(e) |
|
|
0.76 |
% |
|
Net investment income |
|
|
|
|
|
|
1.14 |
%(d) |
|
|
|
|
|
|
1.21 |
% |
|
|
0.38 |
% |
|
|
0.70 |
% |
|
|
1.40 |
%(e) |
|
|
1.12 |
% |
|
Portfolio turnover rate(f) |
|
|
|
|
|
|
34 |
% |
|
|
|
|
|
|
86 |
% |
|
|
125 |
% |
|
|
132 |
% |
|
|
90 |
% |
|
|
89 |
% |
| (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. |
| (e) |
Ratios include non-recurring costs
associated with a proxy statement of 0.01%.
|
| (f) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Consumer Cyclicals Momentum ETF (PEZ)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period. |
|
|
|
|
|
$ |
68.98 |
|
|
|
|
|
|
$ |
70.40 |
|
|
$ |
89.43 |
|
|
$ |
41.64 |
|
|
$ |
56.86 |
|
|
$ |
50.42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss)(a) |
|
|
|
|
|
|
0.19 |
|
|
|
|
|
|
|
0.53 |
|
|
|
0.22 |
|
|
|
(0.00 |
)(b) |
|
|
0.06 |
|
|
|
0.08 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(8.44 |
) |
|
|
|
|
|
|
(1.46 |
) |
|
|
(19.05 |
) |
|
|
47.98 |
|
|
|
(15.17 |
) |
|
|
6.53 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
(8.25 |
) |
|
|
|
|
|
|
(0.93 |
) |
|
|
(18.83 |
) |
|
|
47.98 |
|
|
|
(15.11 |
) |
|
|
6.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.24 |
) |
|
|
|
|
|
|
(0.49 |
) |
|
|
(0.20 |
) |
|
|
(0.19 |
) |
|
|
(0.11 |
) |
|
|
(0.17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
60.49 |
|
|
|
|
|
|
$ |
68.98 |
|
|
$ |
70.40 |
|
|
$ |
89.43 |
|
|
$ |
41.64 |
|
|
$ |
56.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(c) |
|
|
|
|
|
$ |
60.53 |
|
|
|
|
|
|
$ |
69.03 |
|
|
$ |
70.54 |
|
|
$ |
89.37 |
|
|
$ |
41.67 |
|
|
$ |
56.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(d) |
|
|
|
|
|
|
(12.00 |
)% |
|
|
|
|
|
|
(1.27 |
)% |
|
|
(21.10 |
)% |
|
|
115.43 |
% |
|
|
(26.51 |
)% |
|
|
13.15 |
% |
|
Market Price Total Return(d) |
|
|
|
|
|
|
(12.01 |
)% |
|
|
|
|
|
|
(1.40 |
)% |
|
|
(20.90 |
)% |
|
|
115.13 |
% |
|
|
(26.47 |
)% |
|
|
13.03 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
16,332 |
|
|
|
|
|
|
$ |
22,765 |
|
|
$ |
38,718 |
|
|
$ |
126,992 |
|
|
$ |
16,657 |
|
|
$ |
31,271 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers. |
|
|
|
|
|
|
0.60 |
%(e) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.61 |
%(f) |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
1.10 |
%(e) |
|
|
|
|
|
|
1.01 |
% |
|
|
0.73 |
% |
|
|
0.80 |
% |
|
|
0.82 |
%(f) |
|
|
0.80 |
% |
|
Net investment income (loss) |
|
|
|
|
|
|
0.56 |
%(e) |
|
|
|
|
|
|
0.80 |
% |
|
|
0.25 |
% |
|
|
(0.00 |
)%(g) |
|
|
0.12 |
%(f) |
|
|
0.15 |
% |
|
Portfolio turnover rate(h) |
|
|
|
|
|
|
112 |
% |
|
|
|
|
|
|
192 |
% |
|
|
227 |
% |
|
|
163 |
% |
|
|
176 |
% |
|
|
136 |
% |
| (a) |
Based on average shares outstanding.
|
| (b) |
Amount represents less than $(0.005).
|
| (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. |
| (f) |
Ratios include non-recurring costs
associated with a proxy statement of 0.01%.
|
| (g) |
Amount represents less than 0.005%.
|
| (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.
Financial Highlights–(continued)
Invesco Dorsey Wright Consumer Staples Momentum ETF (PSL)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
88.68 |
|
|
|
|
|
|
$ |
84.36 |
|
|
$ |
94.26 |
|
|
$ |
60.84 |
|
|
$ |
72.67 |
|
|
$ |
67.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.38 |
|
|
|
|
|
|
|
1.68 |
(b) |
|
|
1.21 |
|
|
|
0.73 |
|
|
|
0.46 |
|
|
|
0.45 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(9.32 |
) |
|
|
|
|
|
|
4.34 |
|
|
|
(9.89 |
) |
|
|
33.35 |
|
|
|
(11.78 |
) |
|
|
5.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
(8.94 |
) |
|
|
|
|
|
|
6.02 |
|
|
|
(8.68 |
) |
|
|
34.08 |
|
|
|
(11.32 |
) |
|
|
5.70 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income. |
|
|
|
|
|
|
(0.59 |
) |
|
|
|
|
|
|
(1.70 |
) |
|
|
(1.22 |
) |
|
|
(0.66 |
) |
|
|
(0.51 |
) |
|
|
(0.42 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
79.15 |
|
|
|
|
|
|
$ |
88.68 |
|
|
$ |
84.36 |
|
|
$ |
94.26 |
|
|
$ |
60.84 |
|
|
$ |
72.67 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(c) |
|
|
|
|
|
$ |
79.16 |
|
|
|
|
|
|
$ |
88.68 |
|
|
$ |
84.28 |
|
|
$ |
94.31 |
|
|
$ |
60.81 |
|
|
$ |
72.65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(d) |
|
|
|
|
|
|
(10.14 |
)% |
|
|
|
|
|
|
7.34 |
% |
|
|
(9.27 |
)% |
|
|
56.25 |
% |
|
|
(15.61 |
)% |
|
|
8.50 |
% |
|
Market Price Total Return(d) |
|
|
|
|
|
|
(10.13 |
)% |
|
|
|
|
|
|
7.44 |
% |
|
|
(9.41 |
)% |
|
|
56.42 |
% |
|
|
(15.63 |
)% |
|
|
8.12 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
75,195 |
|
|
|
|
|
|
$ |
121,497 |
|
|
$ |
99,540 |
|
|
$ |
111,221 |
|
|
$ |
109,513 |
|
|
$ |
174,401 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(e) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.75 |
%(e) |
|
|
|
|
|
|
0.73 |
% |
|
|
0.73 |
% |
|
|
0.75 |
% |
|
|
0.71 |
% |
|
|
0.71 |
% |
|
Net investment income. |
|
|
|
|
|
|
0.88 |
%(e) |
|
|
|
|
|
|
2.04 |
%(b) |
|
|
1.34 |
% |
|
|
0.93 |
% |
|
|
0.65 |
% |
|
|
0.64 |
% |
|
Portfolio turnover rate(f) |
|
|
|
|
|
|
49 |
% |
|
|
|
|
|
|
135 |
% |
|
|
94 |
% |
|
|
97 |
% |
|
|
119 |
% |
|
|
118 |
% |
| (a) |
Based on average shares outstanding.
|
| (b) |
Net investment income per share and the
ratio of net investment income to average net assets include a significant
dividend received during the period. Net investment income per share and
the ratio of net investment income to average net assets excluding the
significant dividend are $1.24 and 1.51%, respectively.
|
| (c) |
The mean between the last bid and ask
prices. |
| (d) |
Net asset value total return is calculated
assuming an initial investment made at the net asset value at the
beginning of the period, reinvestment of all dividends and distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. Net asset value total return includes
adjustments in accordance with accounting principles generally accepted in
the United States of America and as such, the net asset value for
financial reporting purposes and the returns based upon those net asset
values may differ from the net asset value and returns for shareholder
transactions. Market price total return is calculated assuming an initial
investment made at the market price at the beginning of the period,
reinvestment of all dividends and distributions at market price during the
period, and sale at the market price on the last day of the period. Total
investment returns calculated for a period of less than one year are not
annualized. |
| (f) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Energy Momentum ETF (PXI)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
38.75 |
|
|
|
|
|
|
$ |
42.01 |
|
|
$ |
24.49 |
|
|
$ |
15.20 |
|
|
$ |
31.95 |
|
|
$ |
42.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.38 |
|
|
|
|
|
|
|
1.47 |
|
|
|
0.32 |
|
|
|
0.17 |
|
|
|
0.74 |
(b) |
|
|
0.28 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
4.60 |
|
|
|
|
|
|
|
(3.24 |
) |
|
|
17.47 |
|
|
|
9.33 |
|
|
|
(16.70 |
) |
|
|
(10.24 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
4.98 |
|
|
|
|
|
|
|
(1.77 |
) |
|
|
17.79 |
|
|
|
9.50 |
|
|
|
(15.96 |
) |
|
|
(9.96 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.43 |
) |
|
|
|
|
|
|
(1.49 |
) |
|
|
(0.27 |
) |
|
|
(0.21 |
) |
|
|
(0.79 |
) |
|
|
(0.35 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
43.30 |
|
|
|
|
|
|
$ |
38.75 |
|
|
$ |
42.01 |
|
|
$ |
24.49 |
|
|
$ |
15.20 |
|
|
$ |
31.95 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(c) |
|
|
|
|
|
$ |
43.26 |
|
|
|
|
|
|
$ |
38.73 |
|
|
$ |
42.02 |
|
|
$ |
24.51 |
|
|
$ |
15.24 |
|
|
$ |
31.95 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(d) |
|
|
|
|
|
|
12.90 |
% |
|
|
|
|
|
|
(4.42 |
)% |
|
|
72.99 |
% |
|
|
63.39 |
% |
|
|
(50.75 |
)% |
|
|
(23.63 |
)% |
|
Market Price Total Return(d) |
|
|
|
|
|
|
12.85 |
% |
|
|
|
|
|
|
(4.50 |
)% |
|
|
72.89 |
% |
|
|
63.10 |
% |
|
|
(50.62 |
)% |
|
|
(23.74 |
)% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
113,867 |
|
|
|
|
|
|
$ |
95,325 |
|
|
$ |
240,703 |
|
|
$ |
139,581 |
|
|
$ |
17,479 |
|
|
$ |
51,127 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(e) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.62 |
%(f) |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.77 |
%(e) |
|
|
|
|
|
|
0.70 |
% |
|
|
0.70 |
% |
|
|
0.85 |
% |
|
|
0.86 |
%(f) |
|
|
0.75 |
% |
|
Net investment income |
|
|
|
|
|
|
1.79 |
%(e) |
|
|
|
|
|
|
3.37 |
% |
|
|
1.00 |
% |
|
|
0.86 |
% |
|
|
2.98 |
%(b)(f) |
|
|
0.72 |
% |
|
Portfolio turnover rate(g) |
|
|
|
|
|
|
82 |
% |
|
|
|
|
|
|
147 |
% |
|
|
115 |
% |
|
|
196 |
% |
|
|
92 |
% |
|
|
113 |
% |
| (a) |
Based on average shares outstanding.
|
| (b) |
Net investment income per share and the
ratio of net investment income to average net assets include a significant
dividend received during the period. Net investment income per share and
the ratio of net investment income to average net assets excluding the
significant dividend are $0.58 and 2.35%, respectively.
|
| (c) |
The mean between the last bid and ask
prices. |
| (d) |
Net asset value total return is calculated
assuming an initial investment made at the net asset value at the
beginning of the period, reinvestment of all dividends and distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. Net asset value total return includes
adjustments in accordance with accounting principles generally accepted in
the United States of America and as such, the net asset value for
financial reporting purposes and the returns based upon those net asset
values may differ from the net asset value and returns for shareholder
transactions. Market price total return is calculated assuming an initial
investment made at the market price at the beginning of the period,
reinvestment of all dividends and distributions at market price during the
period, and sale at the market price on the last day of the period. Total
investment returns calculated for a period of less than one year are not
annualized. |
| (f) |
Ratios include non-recurring costs
associated with a proxy statement of 0.02%.
|
| (g) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Financial Momentum ETF (PFI)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
40.67 |
|
|
|
|
|
|
$ |
45.50 |
|
|
$ |
51.11 |
|
|
$ |
31.88 |
|
|
$ |
35.52 |
|
|
$ |
35.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.36 |
|
|
|
|
|
|
|
0.60 |
|
|
|
0.75 |
|
|
|
0.47 |
|
|
|
0.52 |
|
|
|
0.41 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(1.06 |
) |
|
|
|
|
|
|
(4.74 |
) |
|
|
(5.61 |
) |
|
|
19.34 |
|
|
|
(3.54 |
) |
|
|
0.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations. |
|
|
|
|
|
|
(0.70 |
) |
|
|
|
|
|
|
(4.14 |
) |
|
|
(4.86 |
) |
|
|
19.81 |
|
|
|
(3.02 |
) |
|
|
0.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.33 |
) |
|
|
|
|
|
|
(0.69 |
) |
|
|
(0.75 |
) |
|
|
(0.58 |
) |
|
|
(0.62 |
) |
|
|
(0.44 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
39.64 |
|
|
|
|
|
|
$ |
40.67 |
|
|
$ |
45.50 |
|
|
$ |
51.11 |
|
|
$ |
31.88 |
|
|
$ |
35.52 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(b) |
|
|
|
|
|
$ |
39.63 |
|
|
|
|
|
|
$ |
40.63 |
|
|
$ |
45.43 |
|
|
$ |
51.16 |
|
|
$ |
31.86 |
|
|
$ |
35.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(c) |
|
|
|
|
|
|
(1.77 |
)% |
|
|
|
|
|
|
(9.05 |
)% |
|
|
(9.63 |
)% |
|
|
62.64 |
% |
|
|
(8.33 |
)% |
|
|
2.44 |
% |
|
Market Price Total Return(c) |
|
|
|
|
|
|
(1.70 |
)% |
|
|
|
|
|
|
(9.00 |
)% |
|
|
(9.85 |
)% |
|
|
62.90 |
% |
|
|
(8.31 |
)% |
|
|
2.18 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
24,972 |
|
|
|
|
|
|
$ |
28,872 |
|
|
$ |
84,170 |
|
|
$ |
55,708 |
|
|
$ |
28,695 |
|
|
$ |
24,861 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(d) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.61 |
%(e) |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.89 |
%(d) |
|
|
|
|
|
|
0.79 |
% |
|
|
0.70 |
% |
|
|
0.82 |
% |
|
|
0.71 |
%(e) |
|
|
0.79 |
% |
|
Net investment income |
|
|
|
|
|
|
1.71 |
%(d) |
|
|
|
|
|
|
1.44 |
% |
|
|
1.44 |
% |
|
|
1.16 |
% |
|
|
1.40 |
%(e) |
|
|
1.22 |
% |
|
Portfolio turnover rate(f) |
|
|
|
|
|
|
83 |
% |
|
|
|
|
|
|
144 |
% |
|
|
153 |
% |
|
|
167 |
% |
|
|
158 |
% |
|
|
132 |
% |
| (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. |
| (e) |
Ratios include non-recurring costs
associated with a proxy statement of 0.01%.
|
| (f) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Healthcare Momentum ETF (PTH)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023(a) |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023(a) |
|
|
2022(a) |
|
|
2021(a) |
|
|
2020(a) |
|
|
2019(a) |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
39.99 |
|
|
|
|
|
|
$ |
40.53 |
|
|
$ |
52.12 |
|
|
$ |
32.77 |
|
|
$ |
25.93 |
|
|
$ |
25.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss)(b) |
|
|
|
|
|
|
(0.08 |
) |
|
|
|
|
|
|
(0.01 |
) |
|
|
(0.24 |
) |
|
|
(0.16 |
) |
|
|
(0.10 |
) |
|
|
(0.11 |
) |
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(9.65 |
) |
|
|
|
|
|
|
(0.53 |
) |
|
|
(11.35 |
) |
|
|
19.51 |
|
|
|
6.94 |
|
|
|
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations. |
|
|
|
|
|
|
(9.73 |
) |
|
|
|
|
|
|
(0.54 |
) |
|
|
(11.59 |
) |
|
|
19.35 |
|
|
|
6.84 |
|
|
|
0.05 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
30.26 |
|
|
|
|
|
|
$ |
39.99 |
|
|
$ |
40.53 |
|
|
$ |
52.12 |
|
|
$ |
32.77 |
|
|
$ |
25.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(c) |
|
|
|
|
|
$ |
30.26 |
|
|
|
|
|
|
$ |
39.97 |
|
|
$ |
40.50 |
|
|
$ |
52.05 |
|
|
$ |
32.83 |
|
|
$ |
25.90 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(d) |
|
|
|
|
|
|
(24.33 |
)% |
|
|
|
|
|
|
(1.34 |
)% |
|
|
(22.24 |
)% |
|
|
59.04 |
% |
|
|
26.39 |
% |
|
|
0.18 |
% |
|
Market Price Total Return(d) |
|
|
|
|
|
|
(24.30 |
)% |
|
|
|
|
|
|
(1.31 |
)% |
|
|
(22.18 |
)% |
|
|
58.54 |
% |
|
|
26.78 |
% |
|
|
(0.15 |
)% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
114,366 |
|
|
|
|
|
|
$ |
181,144 |
|
|
$ |
273,584 |
|
|
$ |
558,234 |
|
|
$ |
265,463 |
|
|
$ |
163,351 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(e) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
Expenses, prior to Waivers. |
|
|
|
|
|
|
0.73 |
%(e) |
|
|
|
|
|
|
0.71 |
% |
|
|
0.68 |
% |
|
|
0.67 |
% |
|
|
0.73 |
% |
|
|
0.69 |
% |
|
Net investment income (loss) |
|
|
|
|
|
|
(0.44 |
)%(e) |
|
|
|
|
|
|
(0.02 |
)% |
|
|
(0.47 |
)% |
|
|
(0.32 |
)% |
|
|
(0.34 |
)% |
|
|
(0.39 |
)% |
|
Portfolio turnover rate(f) |
|
|
|
|
|
|
137 |
% |
|
|
|
|
|
|
219 |
% |
|
|
204 |
% |
|
|
217 |
% |
|
|
175 |
% |
|
|
166 |
% |
| (a) |
Per share amounts have been adjusted to
reflect a three-for-one stock split effective after the close of business
on July 14, 2023. |
| (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. |
| (f) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Industrials Momentum ETF (PRN)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
94.44 |
|
|
|
|
|
|
$ |
90.58 |
|
|
$ |
102.57 |
|
|
$ |
61.51 |
|
|
$ |
63.65 |
|
|
$ |
57.87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.27 |
|
|
|
|
|
|
|
0.83 |
|
|
|
0.14 |
|
|
|
0.05 |
|
|
|
0.30 |
|
|
|
0.17 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
1.70 |
|
|
|
|
|
|
|
3.91 |
|
|
|
(11.97 |
) |
|
|
41.11 |
|
|
|
(2.16 |
) |
|
|
5.76 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
1.97 |
|
|
|
|
|
|
|
4.74 |
|
|
|
(11.83 |
) |
|
|
41.16 |
|
|
|
(1.86 |
) |
|
|
5.93 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income. |
|
|
|
|
|
|
(0.23 |
) |
|
|
|
|
|
|
(0.88 |
) |
|
|
(0.16 |
) |
|
|
(0.10 |
) |
|
|
(0.28 |
) |
|
|
(0.15 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
96.18 |
|
|
|
|
|
|
$ |
94.44 |
|
|
$ |
90.58 |
|
|
$ |
102.57 |
|
|
$ |
61.51 |
|
|
$ |
63.65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(b) |
|
|
|
|
|
$ |
96.06 |
|
|
|
|
|
|
$ |
94.45 |
|
|
$ |
90.42 |
|
|
$ |
102.49 |
|
|
$ |
61.72 |
|
|
$ |
63.64 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(c) |
|
|
|
|
|
|
2.08 |
% |
|
|
|
|
|
|
5.32 |
% |
|
|
(11.56 |
)% |
|
|
66.98 |
% |
|
|
(2.95 |
)% |
|
|
10.28 |
% |
|
Market Price Total Return(c) |
|
|
|
|
|
|
1.94 |
% |
|
|
|
|
|
|
5.52 |
% |
|
|
(11.64 |
)% |
|
|
66.28 |
% |
|
|
(2.61 |
)% |
|
|
10.19 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
134,657 |
|
|
|
|
|
|
$ |
128,443 |
|
|
$ |
173,908 |
|
|
$ |
314,886 |
|
|
$ |
58,431 |
|
|
$ |
101,839 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(d) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.61 |
%(e) |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.63 |
%(d) |
|
|
|
|
|
|
0.65 |
% |
|
|
0.63 |
% |
|
|
0.64 |
% |
|
|
0.62 |
%(e) |
|
|
0.64 |
% |
|
Net investment income. |
|
|
|
|
|
|
0.52 |
%(d) |
|
|
|
|
|
|
0.92 |
% |
|
|
0.13 |
% |
|
|
0.06 |
% |
|
|
0.46 |
%(e) |
|
|
0.29 |
% |
|
Portfolio turnover rate(f) |
|
|
|
|
|
|
45 |
% |
|
|
|
|
|
|
142 |
% |
|
|
152 |
% |
|
|
169 |
% |
|
|
111 |
% |
|
|
104 |
% |
| (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. |
| (e) |
Ratios include non-recurring costs
associated with a proxy statement of 0.01%.
|
| (f) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Technology Momentum ETF (PTF)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023(a) |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023(a) |
|
|
2022(a) |
|
|
2021(a) |
|
|
2020(a) |
|
|
2019(a) |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
40.19 |
|
|
|
|
|
|
$ |
39.36 |
|
|
$ |
47.63 |
|
|
$ |
25.54 |
|
|
$ |
23.94 |
|
|
$ |
18.73 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss)(b) |
|
|
|
|
|
|
0.02 |
|
|
|
|
|
|
|
(0.06 |
) |
|
|
(0.15 |
) |
|
|
(0.15 |
) |
|
|
(0.04 |
) |
|
|
(0.03 |
) |
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
0.93 |
(c) |
|
|
|
|
|
|
0.89 |
|
|
|
(8.12 |
) |
|
|
22.24 |
|
|
|
1.64 |
|
|
|
5.25 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations. |
|
|
|
|
|
|
0.95 |
|
|
|
|
|
|
|
0.83 |
|
|
|
(8.27 |
) |
|
|
22.09 |
|
|
|
1.60 |
|
|
|
5.22 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.04 |
) |
|
|
|
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
41.10 |
|
|
|
|
|
|
$ |
40.19 |
|
|
$ |
39.36 |
|
|
$ |
47.63 |
|
|
$ |
25.54 |
|
|
$ |
23.94 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(d) |
|
|
|
|
|
$ |
41.09 |
|
|
|
|
|
|
$ |
40.18 |
|
|
$ |
39.37 |
|
|
$ |
47.62 |
|
|
$ |
25.56 |
|
|
$ |
23.97 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(e) |
|
|
|
|
|
|
2.34 |
% |
|
|
|
|
|
|
2.13 |
% |
|
|
(17.37 |
)% |
|
|
86.48 |
% |
|
|
6.70 |
% |
|
|
27.90 |
% |
|
Market Price Total Return(e) |
|
|
|
|
|
|
2.35 |
% |
|
|
|
|
|
|
2.05 |
% |
|
|
(17.33 |
)% |
|
|
86.28 |
% |
|
|
6.65 |
% |
|
|
28.01 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
284,432 |
|
|
|
|
|
|
$ |
230,297 |
|
|
$ |
205,439 |
|
|
$ |
297,237 |
|
|
$ |
157,096 |
|
|
$ |
175,966 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers |
|
|
|
|
|
|
0.60 |
%(f) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
Expenses, prior to Waivers. |
|
|
|
|
|
|
0.69 |
%(f) |
|
|
|
|
|
|
0.71 |
% |
|
|
0.69 |
% |
|
|
0.69 |
% |
|
|
0.69 |
% |
|
|
0.72 |
% |
|
Net investment income (loss) |
|
|
|
|
|
|
0.11 |
%(f) |
|
|
|
|
|
|
(0.16 |
)% |
|
|
(0.31 |
)% |
|
|
(0.37 |
)% |
|
|
(0.17 |
)% |
|
|
(0.15 |
)% |
|
Portfolio turnover rate(g) |
|
|
|
|
|
|
91 |
% |
|
|
|
|
|
|
158 |
% |
|
|
207 |
% |
|
|
172 |
% |
|
|
159 |
% |
|
|
133 |
% |
| (a) |
Per share amounts have been adjusted to
reflect a three-for-one stock split effective after the close of business
on July 14, 2023. |
| (b) |
Based on average shares outstanding.
|
| (c) |
Net realized and unrealized gain (loss) on
investments per share may not correlate with the Fund’s net realized and
unrealized gain (loss) due to timing of shareholder transactions in
relation to the fluctuating market values of the Fund’s investments.
|
| (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. |
| (g) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Financial Highlights–(continued)
Invesco Dorsey Wright Utilities Momentum ETF (PUI)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023 |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period. |
|
|
|
|
|
$ |
33.57 |
|
|
|
|
|
|
$ |
35.29 |
|
|
$ |
34.30 |
|
|
$ |
30.19 |
|
|
$ |
32.18 |
|
|
$ |
27.11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income(a) |
|
|
|
|
|
|
0.44 |
|
|
|
|
|
|
|
0.72 |
|
|
|
0.73 |
|
|
|
0.64 |
|
|
|
0.65 |
|
|
|
0.63 |
|
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
(3.61 |
) |
|
|
|
|
|
|
(1.77 |
) |
|
|
0.98 |
|
|
|
4.27 |
|
|
|
(1.87 |
) |
|
|
4.98 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
(3.17 |
) |
|
|
|
|
|
|
(1.05 |
) |
|
|
1.71 |
|
|
|
4.91 |
|
|
|
(1.22 |
) |
|
|
5.61 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Distributions to shareholders from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income |
|
|
|
|
|
|
(0.43 |
) |
|
|
|
|
|
|
(0.67 |
) |
|
|
(0.72 |
) |
|
|
(0.80 |
) |
|
|
(0.77 |
) |
|
|
(0.54 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
29.97 |
|
|
|
|
|
|
$ |
33.57 |
|
|
$ |
35.29 |
|
|
$ |
34.30 |
|
|
$ |
30.19 |
|
|
$ |
32.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(b) |
|
|
|
|
|
$ |
29.98 |
|
|
|
|
|
|
$ |
33.57 |
|
|
$ |
35.27 |
|
|
$ |
34.24 |
|
|
$ |
30.29 |
|
|
$ |
32.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(c) |
|
|
|
|
|
|
(9.53 |
)% |
|
|
|
|
|
|
(3.00 |
)% |
|
|
5.08 |
% |
|
|
16.63 |
% |
|
|
(3.84 |
)% |
|
|
20.98 |
% |
|
Market Price Total Return(c) |
|
|
|
|
|
|
(9.50 |
)% |
|
|
|
|
|
|
(2.95 |
)% |
|
|
5.20 |
% |
|
|
16.05 |
% |
|
|
(3.53 |
)% |
|
|
20.89 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
34,468 |
|
|
|
|
|
|
$ |
43,309 |
|
|
$ |
55,762 |
|
|
$ |
49,728 |
|
|
$ |
81,526 |
|
|
$ |
223,637 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses, after Waivers. |
|
|
|
|
|
|
0.60 |
%(d) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
Expenses, prior to Waivers |
|
|
|
|
|
|
0.89 |
%(d) |
|
|
|
|
|
|
0.78 |
% |
|
|
0.81 |
% |
|
|
0.81 |
% |
|
|
0.69 |
% |
|
|
0.73 |
% |
|
Net investment income |
|
|
|
|
|
|
2.74 |
%(d) |
|
|
|
|
|
|
2.09 |
% |
|
|
2.12 |
% |
|
|
2.06 |
% |
|
|
1.93 |
% |
|
|
2.08 |
% |
|
Portfolio turnover rate(e) |
|
|
|
|
|
|
8 |
% |
|
|
|
|
|
|
60 |
% |
|
|
61 |
% |
|
|
64 |
% |
|
|
69 |
% |
|
|
49 |
% |
| (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. |
| (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.
Financial Highlights–(continued)
Invesco NASDAQ Internet ETF (PNQI)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended
October
31,
2023(a) |
|
|
Years Ended
April 30, |
|
| |
|
(Unaudited) |
|
|
2023(a) |
|
|
2022(a) |
|
|
2021(a) |
|
|
2020(a) |
|
|
2019(a) |
|
|
Per Share Operating Performance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at beginning of period |
|
|
|
|
|
$ |
28.10 |
|
|
|
|
|
|
$ |
27.99 |
|
|
$ |
48.83 |
|
|
$ |
29.36 |
|
|
$ |
28.49 |
|
|
$ |
25.83 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income (loss)(b) |
|
|
|
|
|
|
(0.07 |
) |
|
|
|
|
|
|
(0.09 |
) |
|
|
(0.24 |
) |
|
|
(0.23 |
) |
|
|
(0.09 |
) |
|
|
(0.09 |
) |
|
Net realized and unrealized gain (loss) on
investments |
|
|
|
|
|
|
1.90 |
|
|
|
|
|
|
|
0.20 |
|
|
|
(20.60 |
) |
|
|
19.70 |
|
|
|
0.96 |
|
|
|
2.75 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment operations |
|
|
|
|
|
|
1.83 |
|
|
|
|
|
|
|
0.11 |
|
|
|
(20.84 |
) |
|
|
19.47 |
|
|
|
0.87 |
|
|
|
2.66 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value at end of period |
|
|
|
|
|
$ |
29.93 |
|
|
|
|
|
|
$ |
28.10 |
|
|
$ |
27.99 |
|
|
$ |
48.83 |
|
|
$ |
29.36 |
|
|
$ |
28.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market price at end of period(c) |
|
|
|
|
|
$ |
29.96 |
|
|
|
|
|
|
$ |
28.10 |
|
|
$ |
27.95 |
|
|
$ |
48.87 |
|
|
$ |
29.35 |
|
|
$ |
28.48 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Asset Value Total Return(d) |
|
|
|
|
|
|
6.51 |
% |
|
|
|
|
|
|
0.40 |
% |
|
|
(42.68 |
)% |
|
|
66.30 |
% |
|
|
3.07 |
% |
|
|
10.29 |
% |
|
Market Price Total Return(d) |
|
|
|
|
|
|
6.60 |
% |
|
|
|
|
|
|
0.54 |
% |
|
|
(42.81 |
)% |
|
|
66.50 |
% |
|
|
3.05 |
% |
|
|
10.15 |
% |
|
Ratios/Supplemental Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets at end of period (000’s omitted) |
|
|
|
|
|
$ |
541,215 |
|
|
|
|
|
|
$ |
528,285 |
|
|
$ |
556,918 |
|
|
$ |
1,069,442 |
|
|
$ |
557,897 |
|
|
$ |
598,232 |
|
|
Ratio to average net assets of: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expenses. |
|
|
|
|
|
|
0.60 |
%(e) |
|
|
|
|
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
% |
|
|
0.60 |
%(f) |
|
|
0.60 |
% |
|
Net investment income (loss) |
|
|
|
|
|
|
(0.46 |
)%(e) |
|
|
|
|
|
|
(0.36 |
)% |
|
|
(0.55 |
)% |
|
|
(0.54 |
)% |
|
|
(0.32 |
)% |
|
|
(0.34 |
)% |
|
Portfolio turnover rate(g) |
|
|
|
|
|
|
14 |
% |
|
|
|
|
|
|
21 |
% |
|
|
29 |
% |
|
|
27 |
% |
|
|
41 |
% |
|
|
20 |
% |
| (a) |
Per share amounts have been adjusted to
reflect a five-for-one stock split effective after the close of business
on July 14, 2023. |
| (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. |
| (f) |
In addition to the fees and expenses which
the Fund bears directly, the Fund indirectly bears a pro rata share of the
fees and expenses of the investment companies in which the Fund invests.
Estimated investment companies’ expenses are not expenses that are
incurred directly by the Fund. They are expenses that are incurred
directly by the investment companies and are deducted from the value of
the investment companies the Fund invests in. The effect of the estimated
investment companies’ expenses that the Fund bears indirectly is included
in the Fund’s total return. |
| (g) |
Portfolio turnover rate is not annualized
for periods less than one year, if applicable, and does not include
securities received or delivered from processing creations or redemptions.
|
See accompanying Notes to Financial Statements which are an
integral part of the financial statements.
Notes to Financial Statements
Invesco Exchange-Traded Fund Trust
October 31, 2023
(Unaudited)
NOTE 1–Organization
Invesco Exchange-Traded Fund Trust (the “Trust”) was organized as
a Massachusetts business trust and is authorized to have multiple series of
portfolios. The Trust is an open-end management investment company registered
under the Investment Company Act of 1940, as amended (the “1940 Act”). This
report includes the following portfolios:
|
|
|
|
|
|
Full Name |
|
Former Fund Name |
|
Short Name |
| Invesco Dorsey Wright Basic
Materials Momentum ETF (PYZ)* |
|
Invesco DWA Basic Materials
Momentum ETF |
|
“Dorsey Wright Basic Materials
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Consumer
Cyclicals Momentum ETF (PEZ)* |
|
Invesco DWA Consumer Cyclicals
Momentum ETF |
|
“Dorsey Wright Consumer Cyclicals
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Consumer
Staples Momentum ETF (PSL)* |
|
Invesco DWA Consumer Staples
Momentum ETF |
|
“Dorsey Wright Consumer Staples
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Energy
Momentum ETF (PXI)* |
|
Invesco DWA Energy Momentum
ETF |
|
“Dorsey Wright Energy Momentum
ETF” |
|
|
|
| Invesco Dorsey Wright Financial
Momentum ETF (PFI)* |
|
Invesco DWA Financial Momentum
ETF |
|
“Dorsey Wright Financial Momentum
ETF” |
|
|
|
| Invesco Dorsey Wright Healthcare
Momentum ETF (PTH)* |
|
Invesco DWA Healthcare Momentum
ETF |
|
“Dorsey Wright Healthcare
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Industrials
Momentum ETF (PRN)* |
|
Invesco DWA Industrials Momentum
ETF |
|
“Dorsey Wright Industrials
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Technology
Momentum ETF (PTF)* |
|
Invesco DWA Technology Momentum
ETF |
|
“Dorsey Wright Technology
Momentum ETF” |
|
|
|
| Invesco Dorsey Wright Utilities
Momentum ETF (PUI)* |
|
Invesco DWA Utilities Momentum
ETF |
|
“Dorsey Wright Utilities Momentum
ETF” |
|
|
|
| Invesco NASDAQ Internet ETF
(PNQI) |
|
|
|
“NASDAQ Internet
ETF” |
| * |
Effective after the close of markets on
August 25, 2023, the Fund’s name changed.
|
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 LLC.
The market price of each Share may differ to some degree from a
Fund’s net asset value (“NAV”). Unlike conventional mutual funds, each Fund
issues and redeems Shares on a continuous basis, at NAV, only in a large
specified number of Shares, each called a “Creation Unit.” Creation Units are
issued and redeemed principally in exchange for the deposit or delivery of a
basket of securities (“Deposit Securities”). Except when aggregated in Creation
Units by authorized participants (“APs”), the Shares are not individually
redeemable securities of the Funds.
The investment objective of each 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 |
| Dorsey Wright Basic Materials
Momentum ETF |
|
Dorsey Wright® Basic Materials
Technical Leaders Index |
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
Dorsey Wright® Consumer Cyclicals
Technical Leaders Index |
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
Dorsey Wright® Consumer Staples
Technical Leaders Index |
|
|
| Dorsey Wright Energy Momentum
ETF |
|
Dorsey Wright® Energy Technical
Leaders Index |
|
|
| Dorsey Wright Financial Momentum
ETF |
|
Dorsey Wright® Financials Technical
Leaders Index |
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
Dorsey Wright® Healthcare Technical
Leaders Index |
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
Dorsey Wright® Industrials Technical
Leaders Index |
|
|
| Dorsey Wright Technology Momentum
ETF |
|
Dorsey Wright® Technology Technical
Leaders Index |
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
Dorsey Wright® Utilities Technical
Leaders Index |
|
|
| NASDAQ Internet ETF |
|
NASDAQ CTA Internet IndexSM |
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 is generally valued at
its trade price or official closing price that day as of the close of the
exchange where the security is principally traded or, lacking any trades or
official closing price on a particular day, the security may be valued at the
closing bid or ask price on that day. Securities traded in the over-the-counter
market are valued based on prices furnished by independent pricing services or
market makers. When such securities are valued using prices provided by an
independent pricing service they may be considered fair valued. Futures
contracts are valued at the daily settlement price set by an exchange on which
they are principally traded. Where a final settlement price exists,
exchange-traded options are valued at the final settlement price from the
exchange where the option principally trades. Where a final settlement price
does not exist, exchange-traded options are valued at the mean between the last
bid and ask price generally from the exchange where the option principally
trades.
Securities of investment companies that are not exchange-traded
(e.g., open-end mutual funds) are valued using such company’s
end-of-business-day NAV per share.
Deposits, other obligations of U.S. and non-U.S. banks and
financial institutions are valued at their daily account value.
Fixed income securities (including convertible debt securities)
generally are valued on the basis of prices provided by independent pricing
services. Prices provided by the pricing service may be determined without
exclusive reliance on quoted prices, and may reflect appropriate factors such as
institution-size trading in similar groups of securities, developments related
to specific securities, dividend rate (for unlisted equities), yield (for debt
obligations), quality, type of issue, coupon rate (for debt obligations),
maturity (for debt obligations), individual trading characteristics and other
market data. Securities with a demand feature exercisable within one to seven
days are valued at par. Pricing services generally value debt obligations
assuming orderly transactions of institutional round lot size, but a Fund may
hold or transact in the same securities in smaller, odd lot sizes. Odd lots
often trade at lower prices than institutional round lots, and their value may
be adjusted accordingly. Debt obligations are subject to interest rate and
credit risks. In addition, all debt obligations involve some risk of default
with respect to interest and/or principal payments.
Foreign securities’ (including foreign exchange contracts’) prices
are converted into U.S. dollar amounts using the applicable exchange rates as of
the close of the London world markets. If market quotations are available and
reliable for foreign exchange-traded equity securities, the securities will be
valued at the market quotations. Invesco Capital Management LLC (the “Adviser”)
may use various pricing services to obtain market quotations as well as fair
value prices. Because trading hours for certain foreign securities end before
the close of the New York Stock Exchange (“NYSE”), closing market quotations may
become not representative of market value in the Adviser’s judgment
(“unreliable”). If, between the time trading ends on a particular security and
the close of the customary trading session on the NYSE, a significant event
occurs that makes the closing price of the security unreliable, the Adviser may
fair value the security. If the event is likely to have affected the closing
price of the security, the security will be valued at fair value in good faith
in accordance with Board-approved policies and related Adviser procedures
(“Valuation Procedures”). Adjustments to closing prices to reflect fair value
may also be based on a screening process of an independent pricing service to
indicate the degree of certainty, based on historical data, that the closing
price in the principal market where a foreign security trades is not the current
value as of the close of the NYSE. Foreign securities’ prices meeting the degree
of certainty that the price is not reflective of current value will be priced at
the indication of fair value from the independent pricing service. Multiple
factors may be considered by the independent pricing service in determining
adjustments to reflect fair value and may include information relating to sector
indices, American depositary receipts and domestic and foreign index futures.
Foreign securities may have additional risks including exchange rate changes,
the potential for sharply devalued currencies and high inflation, political and
economic upheaval, the relative lack of issuer information, relatively low
market liquidity and the potential lack of strict financial and accounting
controls and standards.
Unlisted securities will be valued using prices provided by
independent pricing services or by another method that the Adviser, in its
judgment, believes better reflects the security’s fair value in accordance with
the Valuation Procedures.
Securities for which market prices are not provided by any of the
above methods may be valued based upon quotes furnished by independent sources.
The mean between the last bid and ask prices may be used to value debt
obligations, including corporate loans, and unlisted equity securities.
Securities for which market quotations are not readily available
are fair valued by the Adviser in accordance with the Valuation Procedures. If a
fair value price provided by a pricing service is unreliable, the Adviser will
fair value the security using the Valuation Procedures. Issuer-specific events,
market trends, bid/ask 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, significant governmental actions or adverse investor
sentiment generally and market liquidity. Because of the inherent uncertainties
of valuation, the values reflected in the financial statements may materially
differ from the value received upon actual sale of those investments.
The price a Fund could receive upon the sale of any investment may
differ from the Adviser’s valuation of the investment, particularly for
securities that are valued using a fair valuation technique. When fair valuation
techniques are applied, the Adviser uses available information, including both
observable and unobservable inputs and assumptions, to determine a methodology
that will result in a valuation that the Adviser believes approximates market
value. Fund securities that are fair valued may be subject to greater
fluctuation in their value from one day to the next than would be the case if
market quotations were used. Because of the inherent uncertainties of valuation,
and the degree of subjectivity in such decisions, a Fund could realize a greater
or lesser than expected gain or loss upon the sale of the investment.
| B. |
Investment Transactions and Investment
Income - Investment transactions are accounted for on a trade date
basis. Realized gains and losses from the sale or disposition of
securities are computed on the specific identified cost basis. Interest
income is recorded on an accrual basis from settlement date and includes
coupon interest and amortization of premium and accretion of discount on
debt securities as applicable. Pay-in-kind interest income and non-cash
dividend income received in the form of securities in-lieu of cash are
recorded at the fair value of the securities received. Dividend income
(net of withholding tax, if any) is recorded on the ex-dividend date.
Realized gains, dividends and interest received by a Fund may give rise to
withholding and other taxes imposed by foreign countries. Tax conventions
between certain countries and the United States may reduce or eliminate
such taxes. |
The Funds may periodically participate in litigation related to a
Fund’s investments. As such, the Funds may receive proceeds from litigation
settlements. Any proceeds received are included in the Statements of Operations
as realized gain (loss) for investments no longer held and as unrealized gain
(loss) for investments still held.
Brokerage commissions and mark ups are considered transaction
costs and are recorded as an increase to the cost basis of securities purchased
and/or a reduction of proceeds on a sale of securities. Such transaction costs
are included in the determination of net realized and unrealized gain (loss)
from investment securities reported in the Statements of Operations and the
Statements of Changes in Net Assets and the net realized and unrealized gains
(losses) on securities per share in the Financial Highlights. Transaction costs
are included in the calculation of a Fund’s NAV and, accordingly, they reduce a
Fund’s total returns. These transaction costs are not considered operating
expenses and are not reflected in net investment income reported in the
Statements of Operations and the Statements of Changes in Net Assets, or the net
investment income per share and the ratios of expenses and net investment income
reported in the Financial Highlights, nor are they limited by any expense
limitation arrangements between each Fund and the Adviser.
| C. |
Country Determination - For the
purposes of presentation in the Schedules of Investments, the Adviser may
determine the country in which an issuer is located and/or credit risk
exposure based on various factors. These factors include whether each
Fund’s Underlying Index has made a country determination and may include
the laws of the country under which the issuer is organized, where the
issuer maintains a principal office, the country in which the issuer
derives 50% or more of its total revenues, the country that has the
primary market for the issuer’s securities and its “country of risk” as
determined by a third party service provider, as well as other criteria.
Among the other criteria that may be evaluated for making this
determination are the country in which the issuer maintains 50% or more of
its assets, the type of security, financial guarantees and enhancements,
the nature of the collateral and the sponsor organization. Country of
issuer and/or credit risk exposure has been determined to be the United
States of America, unless otherwise noted. |
| D. |
Dividends and Distributions to
Shareholders - Each Fund declares and pays dividends from net
investment income, if any, to its shareholders quarterly and records such
dividends on the ex-dividend date. Generally, each Fund distributes net
realized taxable capital gains, if any, annually in cash and records them
on the ex-dividend date. Such distributions on a tax basis are determined
in conformity with federal income tax regulations, which may differ from
accounting principles generally accepted in the United States of America
(“GAAP”). Distributions in excess of tax basis earnings and profits, if
any, are reported in such Fund’s financial statements as a tax return of
capital at fiscal year-end. |
| E. |
Federal Income Taxes - Each Fund
intends to comply with the 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 for
NASDAQ Internet ETF) is responsible for all of its own expenses,
including, but not limited to, 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 respective
Underlying Index, any distribution fees or expenses, litigation expenses,
fees payable to the Trust’s Board members and officers 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 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
the Adviser (an “Interested Trustee”), or (iii) any other matters
that directly benefit the Adviser). |
NASDAQ Internet ETF has agreed to pay an annual unitary management
fee to the Adviser. Out of the unitary management fee, the Adviser pays for
substantially all expenses of the Fund, including the costs of transfer agency,
custody, fund administration, legal, audit and other services, except for
distribution fees, if any, brokerage expenses, taxes, interest, acquired fund
fees and expenses, if any, litigation expenses and other extraordinary expenses,
including proxy expenses (except for such proxies related to: (i) changes
to the Investment Advisory Agreement, (ii) the election of an Interested
Trustee, or (iii) any other matters that directly benefit the Adviser).
Expenses of the Trust that are directly identifiable to a specific
Fund, including expenses that are excluded from a Fund’s unitary management fee,
are applied to that Fund. Expenses of the Trust that are not readily
identifiable to a specific Fund, including expenses that are excluded from a
Fund’s unitary management fee, 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.
|
Invesco Advisers, Inc. (“Invesco”), an affiliate of the Adviser,
serves as an affiliated securities lending agent for each Fund participating in
the securities lending program. The Bank of New York Mellon (“BNYM”) also serves
as a securities lending agent. To the extent a Fund utilizes Invesco as an
affiliated securities lending agent, the Fund conducts its securities lending in
accordance with, and in reliance upon, no-action letters issued by the SEC staff
that provide guidance on how an affiliate may act as a direct agent lender and
receive compensation for those services in a manner consistent with the federal
securities laws. For the six months ended October 31, 2023, each Fund had
affiliated securities lending transactions with Invesco. Fees paid to Invesco
for securities lending agent services, which are included in Securities
lending income on the Statements of Operations, were incurred by each Fund
as listed below:
|
|
|
|
|
| |
|
Amount |
|
|
|
| Dorsey Wright Basic Material
Momentum ETF |
|
$ |
1,285 |
|
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
|
1,413 |
|
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
|
855 |
|
|
|
| Dorsey Wright Energy Momentum
ETF |
|
|
5,403 |
|
|
|
| Dorsey Wright Financial Momentum
ETF |
|
|
3,535 |
|
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
|
5,384 |
|
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
|
785 |
|
|
|
| Dorsey Wright Technology Momentum
ETF |
|
|
40,040 |
|
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
|
206 |
|
|
|
| NASDAQ Internet ETF |
|
|
3,464 |
|
| J. |
Foreign Currency Translations -
Foreign currency is valued at the close of the NYSE based on quotations
posted by banks and major currency dealers. Portfolio securities and other
assets and liabilities denominated in foreign currencies are translated
into U.S. dollar amounts at the date of valuation. Purchases and sales of
portfolio securities (net of foreign taxes withheld on disposition) and
income items denominated in foreign currencies are translated into U.S.
dollar amounts on the respective dates of such transactions. Each Fund
does not separately account for the portion of the results of operations
resulting from changes in foreign exchange rates on investments and the
fluctuations arising from changes in market prices of securities held. The
combined results of changes in foreign exchange rates and the fluctuation
of market prices on investments (net of estimated foreign tax withholding)
are included with the net realized and unrealized gain or loss from
investments in the Statements of Operations. Reported net realized foreign
currency gains or losses arise from (1) sales of foreign currencies,
(2) currency gains or losses realized between the trade and
settlement dates on securities transactions, and (3) the difference
between the amounts of dividends, interest, and foreign withholding taxes
recorded on a Fund’s books and the U.S. dollar equivalent of the amounts
actually received or paid. Net unrealized foreign currency gains and
losses arise from changes in the fair values of assets and liabilities,
other than investments in securities at fiscal period-end, resulting from
changes in exchange rates. |
Each Fund may invest in foreign securities, which may be subject
to foreign taxes on income, gains on investments or currency repatriation, a
portion of which may be recoverable. Foreign taxes, if any, are recorded based
on the tax regulations and rates that exist in the foreign markets in which a
Fund invests.
AP Concentration Risk. Only APs may engage in creation or
redemption transactions directly with each Fund. Each Fund has a limited number
of institutions that may act as APs, and such APs have no obligation to submit
creation or redemption orders. Consequently, there is no assurance that APs will
establish or maintain an active trading market for the Shares. This risk may be
heightened to the extent that securities held by each Fund are traded outside a
collateralized settlement system. In that case, APs may be required to post
collateral on certain trades on an agency basis (i.e., on behalf of other market
participants), which only a limited number of APs may be able to do. In
addition, to the extent that APs exit the business or are unable to proceed with
creation and/or redemption orders with respect to each Fund and no other AP is
able to step forward to create or redeem Creation Units, this may result in a
significantly diminished trading market for Fund Shares, and Shares may be more
likely to trade at a premium or discount to a Fund’s NAV and to face trading
halts and/or delisting. Investments in non-U.S. securities, which may have lower
trading volumes or could experience extended market closures or trading halts,
may increase the risk that APs may not be able to effectively create or redeem
Creation Units or the risk that the Shares may be halted and/or delisted.
Equity Risk. Equity risk is the risk that the value of
equity securities, including common stocks, may fall due to both changes in
general economic conditions that impact the market as a whole, as well as
factors that directly relate to a specific company or its industry. Such general
economic conditions include changes in interest rates, periods of market
turbulence or instability, or general and prolonged periods of economic decline
and cyclical change. It is possible that a drop in the stock market may
depress the price of most or all of the common stocks that each
Fund holds. In addition, equity risk includes the risk that investor sentiment
toward one or more industries will become negative, resulting in those investors
exiting their investments in those industries, which could cause a reduction in
the value of companies in those industries more broadly. The value of a
company’s common stock may fall solely because of factors, such as an increase
in production costs that negatively impact other companies in the same region,
industry or sector of the market. A company’s common stock also may decline
significantly in price over a short period of time due to factors specific to
that company, including decisions made by its management or lower demand for the
company’s products or services. For example, an adverse event, such as an
unfavorable earnings report or the failure to make anticipated dividend
payments, may depress the value of common stock.
Index Risk. Unlike many investment companies that are
“actively managed”, 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. Further, unlike with an actively managed fund, the Adviser does not
use techniques or defensive strategies designed to lessen the impact of periods
of market volatility or market decline. This means that, based on certain market
and economic conditions, a Fund’s performance could be lower than other types of
funds with investment advisers that actively manage their portfolio assets to
take advantage of market opportunities or defend against market events.
Industry Concentration Risk. In following its methodology,
each Fund’s Underlying Index from time to time may be concentrated to a
significant degree in securities of issuers operating in a single industry or
industry group. To the extent that each Underlying Index concentrates in the
securities of issuers in a particular industry or industry group, the
corresponding Fund will also concentrate its investments to approximately the
same extent. By concentrating its investments in an industry or industry group,
each Fund may face more risks than if it were diversified broadly over numerous
industries or industry groups. Such industry-based risks, any of which may
adversely affect the companies in which each Fund invests, may include, but are
not limited to, the following: general economic conditions or cyclical market
patterns that could negatively affect supply and demand in a particular
industry; competition for resources, adverse labor relations, political or world
events; obsolescence of technologies; and increased competition or new product
introductions that may affect the profitability or viability of companies in an
industry. In addition, at times, such industry or industry group may be out of
favor and underperform other industries or the market as a whole.
Market Risk. Securities in each Underlying Index are
subject to market fluctuations. You should anticipate that the value of the
Shares will decline, more or less, in correlation with any decline in value of
the securities in an Underlying Index.
Additionally, natural or environmental disasters, widespread
disease or other public health issues, war, military conflicts, acts of
terrorism, economic crises or other events could result in increased premiums or
discounts to each Fund’s NAV.
Momentum Investing Risk. For certain Funds, the momentum
style of investing is subject to the risk that the securities may be more
volatile than the market as a whole, or that the returns on securities that
previously have exhibited price momentum are less than returns on other styles
of investing. Momentum can turn quickly, and stocks that previously have
exhibited high momentum may not experience continued positive momentum. In
addition, there may be periods when the momentum style of investing is out of
favor and therefore, the investment performance of a Fund may suffer.
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.
Non-Diversified Fund Risk. Because NASDAQ Internet ETF is
non-diversified and can invest a greater portion of its assets in securities of
individual issuers than can a diversified fund, changes in the market value of a
single investment could cause greater fluctuations in Share price than would
occur in a diversified fund. This may increase the Fund’s volatility and cause
the performance of a relatively small number of issuers to have a greater impact
on the Fund’s performance.
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.
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.
NOTE 3–Investment Advisory Agreements and Other Agreements
The Trust has entered into Investment Advisory Agreements with the
Adviser on behalf of the Funds, pursuant to which the Adviser has overall
responsibility for the selection and ongoing monitoring of the Funds’
investments, managing the Funds’ business affairs and providing certain
clerical, bookkeeping and other administrative services. Pursuant to an
Investment Advisory Agreement, each Fund (except for NASDAQ Internet ETF)
accrues daily and pays monthly to the Adviser an annual fee of 0.50% of the
Fund’s average daily net assets.
Pursuant to another Investment Advisory Agreement, NASDAQ Internet
ETF accrues daily and pays monthly to the Adviser, as compensation for its
services, an annual unitary management fee of 0.60% of the Fund’s average daily
net assets. Out of the unitary management fee, the Adviser pays for
substantially all expenses of NASDAQ Internet ETF, including the costs of
transfer agency, custody, fund administration, legal, audit and other services,
except for distribution fees, if any, brokerage expenses, taxes, interest,
acquired fund fees and expenses, if any, litigation expenses and other
extraordinary expenses, including proxy expenses (except for such proxies
related to: (i) changes to the Investment Advisory Agreement, (ii) the
election of an Interested Trustee, or (iii) any other matters that directly
benefit the Adviser).
The Trust also has entered into an Amended and Restated Excess
Expense Agreement (the “Expense Agreement”) with the Adviser on behalf of each
Fund (except NASDAQ Internet ETF), pursuant to which the Adviser has
contractually agreed to waive fees and/or pay Fund expenses to the extent
necessary to prevent the operating expenses (excluding interest expenses,
brokerage commissions and other trading expenses, offering costs, taxes,
acquired fund fees and expenses, if any, and extraordinary expenses, including
proxy expenses (except for such proxies related to: (i) changes to the
Investment Advisory Agreement, (ii) the election of an Interested Trustee,
or (iii) any other matters that directly benefit the Adviser)) of each Fund
(except NASDAQ Internet ETF) from exceeding 0.60% of the Fund’s average daily
net assets per year (the “Expense Cap”), through at least August 31, 2025.
Unless the Adviser continues the Expense Agreement, it will terminate on
August 31, 2025. During its term, the Expense Agreement cannot be
terminated or amended to increase the Expense Cap without approval of the Board
of Trustees.
Further, through at least August 31, 2025, the Adviser has
contractually agreed to waive the management fee payable by each Fund in an
amount equal to the lesser of: (i) 100% of the net advisory fees earned by
the Adviser or an affiliate of the Adviser that are attributable to the Fund’s
investments in money market funds that are managed by affiliates of the Adviser
and other funds (including ETFs) managed by the Adviser or affiliates of the
Adviser or (ii) the management fee available to be waived. This waiver does
not apply to a Fund’s investment of cash collateral received for securities
lending. There is no guarantee that the Adviser will extend the waiver of these
fees past that date. This agreement is not subject to recapture by the Adviser.
For the six months ended October 31, 2023, the Adviser waived
fees and/or paid Fund expenses for each Fund in the following amounts:
|
|
|
|
|
|
|
| Dorsey Wright Basic Materials
Momentum ETF |
|
$ |
87,503 |
|
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
|
51,404 |
|
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
|
79,117 |
|
|
|
| Dorsey Wright Energy Momentum
ETF |
|
|
80,331 |
|
|
|
| Dorsey Wright Financial Momentum
ETF |
|
|
40,924 |
|
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
|
103,271 |
|
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
|
18,586 |
|
|
|
| Dorsey Wright Technology Momentum
ETF |
|
|
130,301 |
|
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
|
56,580 |
|
|
|
| NASDAQ Internet ETF |
|
|
27 |
|
The fees waived and/or expenses borne by the Adviser, 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 Funds if it would result in the Funds 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 following Funds, the amounts available for potential
future recapture by the Adviser under the Expense Agreement and the expiration
schedule at October 31, 2023 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total
Potential
Recapture |
|
|
Potential
Recapture Amounts Expiring |
|
| |
Amounts |
|
|
4/30/24 |
|
|
4/30/25 |
|
|
4/30/26 |
|
|
10/31/26 |
|
|
|
|
|
|
|
| Dorsey Wright Basic Materials
Momentum ETF |
|
$ |
509,214 |
|
|
$ |
62,243 |
|
|
$ |
167,780 |
|
|
$ |
191,801 |
|
|
$ |
87,390 |
|
|
|
|
|
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
|
353,133 |
|
|
|
61,098 |
|
|
|
132,414 |
|
|
|
108,291 |
|
|
|
51,330 |
|
|
|
|
|
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
|
455,956 |
|
|
|
77,823 |
|
|
|
138,574 |
|
|
|
160,546 |
|
|
|
79,013 |
|
|
|
|
|
|
|
| Dorsey Wright Energy Momentum
ETF |
|
|
515,887 |
|
|
|
61,012 |
|
|
|
156,302 |
|
|
|
218,338 |
|
|
|
80,235 |
|
|
|
|
|
|
|
| Dorsey Wright Financial Momentum
ETF |
|
|
272,359 |
|
|
|
38,816 |
|
|
|
89,336 |
|
|
|
103,352 |
|
|
|
40,855 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Total
Potential
Recapture |
|
|
Potential
Recapture Amounts Expiring |
|
| |
Amounts |
|
|
4/30/24 |
|
|
4/30/25 |
|
|
4/30/26 |
|
|
10/31/26 |
|
|
|
|
|
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
$ |
962,653 |
|
|
$ |
240,034 |
|
|
$ |
362,462 |
|
|
$ |
257,024 |
|
|
$ |
103,133 |
|
|
|
|
|
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
|
188,769 |
|
|
|
28,269 |
|
|
|
82,905 |
|
|
|
59,111 |
|
|
|
18,484 |
|
|
|
|
|
|
|
| Dorsey Wright Technology Momentum
ETF |
|
|
765,887 |
|
|
|
144,106 |
|
|
|
259,127 |
|
|
|
232,413 |
|
|
|
130,241 |
|
|
|
|
|
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
|
324,406 |
|
|
|
58,223 |
|
|
|
99,123 |
|
|
|
110,535 |
|
|
|
56,525 |
|
The Trust has entered into a Distribution Agreement with Invesco
Distributors, Inc. (the “Distributor”), which serves as the distributor of
Creation Units for each Fund. The Distributor does not maintain a secondary
market in the Shares. The Funds are not charged any fees pursuant to the
Distribution Agreement. The Distributor is an affiliate of the Adviser.
The Adviser has entered into a licensing agreement on behalf of
each Fund with the following entities (each, a “Licensor”):
|
|
|
|
Fund |
|
Licensor |
|
|
| Dorsey Wright Basic Materials
Momentum ETF |
|
Dorsey Wright & Associates, LLC |
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Energy Momentum
ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Financial Momentum
ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Technology Momentum
ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
Dorsey Wright & Associates,
LLC |
|
|
| NASDAQ Internet ETF |
|
Nasdaq,
Inc. |
Each Underlying Index name trademark is owned by its respective
Licensor. These trademarks have been licensed to the Adviser for use by the
Funds. Each Fund is entitled to use its Underlying Index pursuant to the Trust’s
sub-licensing agreement with the Adviser. The Funds (except for NASDAQ Internet
ETF) are required to pay the sub-licensing fees that are shown on the Statements
of Operations. The Funds are not sponsored, endorsed, sold or promoted by the
Licensors, and the Licensors make no representation regarding the advisability
of investing in any of the Funds.
The Trust has entered into service agreements whereby 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 October 31, 2023, the 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:
|
|
|
|
|
|
|
| Dorsey Wright Basic Materials
Momentum ETF |
|
$ |
14,500 |
|
|
|
| Dorsey Wright Consumer Cyclicals
Momentum ETF |
|
|
5,398 |
|
|
|
| Dorsey Wright Consumer Staples
Momentum ETF |
|
|
11,446 |
|
|
|
| Dorsey Wright Energy Momentum
ETF |
|
|
27,246 |
|
|
|
| Dorsey Wright Financial Momentum
ETF |
|
|
10,017 |
|
|
|
| Dorsey Wright Healthcare Momentum
ETF |
|
|
72,404 |
|
|
|
| Dorsey Wright Industrials
Momentum ETF |
|
|
9,348 |
|
|
|
| Dorsey Wright Technology Momentum
ETF |
|
|
53,089 |
|
|
|
| Dorsey Wright Utilities Momentum
ETF |
|
|
2,322 |
|
|
|
| NASDAQ Internet ETF |
|
|
8,790 |
|
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. Based on the valuation inputs, the securities or other
investments are tiered into one of three levels. Changes in valuation methods
may result in transfers in or out of an investment’s assigned level:
|
|
|
| Level 1 – |
|
Prices are determined using quoted
prices in an active market for identical
assets. |
|
|
|
| Level 2 – |
|
Prices are
determined using other significant observable inputs. Observable inputs
are inputs that other market participants may use in pricing a security.
These may include quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, yield curves, loss severities, default
rates, discount rates, volatilities and others. |
| Level 3 – |
|
Prices are
determined using significant unobservable inputs. In situations where
quoted prices or observable inputs are unavailable (for example, when
there is little or no market activity for an investment at the end of the
period), unobservable inputs may be used. Unobservable inputs reflect the
Adviser’s assumptions about the factors market participants would use in
determining fair value of the securities or instruments and would be based
on the best available information. |
The following is a summary of the tiered valuation input levels,
as of October 31, 2023. 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 |
|
Dorsey Wright Basic Materials Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
99,641,972 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
99,641,972 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
144,602 |
|
|
|
|
24,347,549 |
|
|
|
|
- |
|
|
|
|
24,492,151 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
99,786,574 |
|
|
|
$ |
24,347,549 |
|
|
|
|
$- |
|
|
|
$ |
124,134,123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Consumer Cyclicals Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
16,354,379 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
16,354,379 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
111,665 |
|
|
|
|
4,073,218 |
|
|
|
|
- |
|
|
|
|
4,184,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
16,466,044 |
|
|
|
$ |
4,073,218 |
|
|
|
|
$- |
|
|
|
$ |
20,539,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Consumer Staples Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
75,149,591 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
75,149,591 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
228,835 |
|
|
|
|
16,440,290 |
|
|
|
|
- |
|
|
|
|
16,669,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
75,378,426 |
|
|
|
$ |
16,440,290 |
|
|
|
|
$- |
|
|
|
$ |
91,818,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Energy Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
113,783,873 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
113,783,873 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
177,509 |
|
|
|
|
24,363,187 |
|
|
|
|
- |
|
|
|
|
24,540,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
113,961,382 |
|
|
|
$ |
24,363,187 |
|
|
|
|
$- |
|
|
|
$ |
138,324,569 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Financial Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
24,966,812 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
24,966,812 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
139,625 |
|
|
|
|
4,968,847 |
|
|
|
|
- |
|
|
|
|
5,108,472 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
25,106,437 |
|
|
|
$ |
4,968,847 |
|
|
|
|
$- |
|
|
|
$ |
30,075,284 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Healthcare Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
114,315,464 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
114,315,464 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
325,384 |
|
|
|
|
36,299,322 |
|
|
|
|
- |
|
|
|
|
36,624,706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
114,640,848 |
|
|
|
$ |
36,299,322 |
|
|
|
|
$- |
|
|
|
$ |
150,940,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Industrials Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
134,599,648 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
134,599,648 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
172,330 |
|
|
|
|
8,266,832 |
|
|
|
|
- |
|
|
|
|
8,439,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
134,771,978 |
|
|
|
$ |
8,266,832 |
|
|
|
|
$- |
|
|
|
$ |
143,038,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dorsey Wright Technology Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
284,449,091 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
284,449,091 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
321,703 |
|
|
|
|
36,491,347 |
|
|
|
|
- |
|
|
|
|
36,813,050 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
284,770,794 |
|
|
|
$ |
36,491,347 |
|
|
|
|
$- |
|
|
|
$ |
321,262,141 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level
1 |
|
Level
2 |
|
Level 3 |
|
Total |
|
|
|
|
|
|
Dorsey Wright Utilities Momentum ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
34,407,249 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
34,407,249 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
138,139 |
|
|
|
|
3,441,209 |
|
|
|
|
- |
|
|
|
|
3,579,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
34,545,388 |
|
|
|
$ |
3,441,209 |
|
|
|
|
$- |
|
|
|
$ |
37,986,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NASDAQ Internet ETF |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks & Other Equity
Interests |
|
|
$ |
541,572,923 |
|
|
|
$ |
- |
|
|
|
|
$- |
|
|
|
$ |
541,572,923 |
|
|
|
|
|
|
|
Money Market Funds |
|
|
|
- |
|
|
|
|
56,142,194 |
|
|
|
|
- |
|
|
|
|
56,142,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
$ |
541,572,923 |
|
|
|
$ |
56,142,194 |
|
|
|
|
$- |
|
|
|
$ |
597,715,117 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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.
Capital loss carryforwards are calculated and reported as of a
specific date. Results of transactions and other activity after that date may
affect the amount of capital loss carryforwards actually available for the Funds
to utilize. The ability to utilize capital loss carryforwards in the future may
be limited under the Internal Revenue Code and related regulations based on the
results of future transactions.
The Funds had capital loss carryforwards as of April 30,
2023, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
No
expiration |
|
|
|
|
| |
|
Short-Term |
|
|
Long-Term |
|
|
Total* |
|
|
|
|
|
| Dorsey
Wright Basic Materials Momentum ETF |
|
$ |
83,216,134 |
|
|
$ |
14,684,792 |
|
|
$ |
97,900,926 |
|
|
|
|
|
| Dorsey
Wright Consumer Cyclicals Momentum ETF |
|
|
85,754,541 |
|
|
|
- |
|
|
|
85,754,541 |
|
|
|
|
|
| Dorsey
Wright Consumer Staples Momentum ETF |
|
|
112,134,416 |
|
|
|
6,385,299 |
|
|
|
118,519,715 |
|
|
|
|
|
| Dorsey
Wright Energy Momentum ETF |
|
|
172,778,440 |
|
|
|
31,129,569 |
|
|
|
203,908,009 |
|
|
|
|
|
| Dorsey
Wright Financial Momentum ETF |
|
|
47,295,958 |
|
|
|
- |
|
|
|
47,295,958 |
|
|
|
|
|
| Dorsey
Wright Healthcare Momentum ETF |
|
|
340,863,021 |
|
|
|
- |
|
|
|
340,863,021 |
|
|
|
|
|
| Dorsey
Wright Industrials Momentum ETF |
|
|
116,655,076 |
|
|
|
1,315,271 |
|
|
|
117,970,347 |
|
|
|
|
|
| Dorsey
Wright Technology Momentum ETF |
|
|
199,340,306 |
|
|
|
2,745,291 |
|
|
|
202,085,597 |
|
|
|
|
|
| Dorsey
Wright Utilities Momentum ETF |
|
|
27,003,697 |
|
|
|
3,892,444 |
|
|
|
30,896,141 |
|
|
|
|
|
| NASDAQ
Internet ETF |
|
|
81,059,554 |
|
|
|
87,467,710 |
|
|
|
168,527,264 |
|
| * |
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 October 31, 2023, 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 |
|
|
|
|
| Dorsey
Wright Basic Materials Momentum ETF |
|
$ |
48,355,909 |
|
|
$ |
48,318,764 |
|
|
|
|
| Dorsey
Wright Consumer Cyclicals Momentum ETF |
|
|
22,671,317 |
|
|
|
22,655,681 |
|
|
|
|
| Dorsey
Wright Consumer Staples Momentum ETF |
|
|
51,537,137 |
|
|
|
51,829,242 |
|
|
|
|
| Dorsey
Wright Energy Momentum ETF |
|
|
78,531,303 |
|
|
|
78,690,657 |
|
|
|
|
| Dorsey
Wright Financial Momentum ETF |
|
|
23,005,031 |
|
|
|
22,962,438 |
|
|
|
|
| Dorsey
Wright Healthcare Momentum ETF |
|
|
214,076,619 |
|
|
|
214,516,007 |
|
|
|
|
| Dorsey
Wright Industrials Momentum ETF |
|
|
65,089,265 |
|
|
|
65,598,853 |
|
|
|
|
| Dorsey
Wright Technology Momentum ETF |
|
|
273,696,320 |
|
|
|
274,288,328 |
|
|
|
|
| Dorsey
Wright Utilities Momentum ETF |
|
|
2,955,969 |
|
|
|
11,967,515 |
|
|
|
|
| NASDAQ
Internet ETF |
|
|
78,288,348 |
|
|
|
79,438,159 |
|
For the six months ended October 31, 2023, in-kind
transactions associated with creations and redemptions were as follows:
|
|
|
|
|
|
|
|
|
| |
|
In-kind |
|
|
In-kind |
|
| |
|
Purchases |
|
|
Sales |
|
|
|
|
| Dorsey
Wright Basic Materials Momentum ETF |
|
$ |
- |
|
|
$ |
41,885,844 |
|
|
|
|
| Dorsey
Wright Consumer Cyclicals Momentum ETF |
|
|
- |
|
|
|
3,889,115 |
|
|
|
|
| Dorsey
Wright Consumer Staples Momentum ETF |
|
|
855,204 |
|
|
|
36,784,384 |
|
|
|
|
| Dorsey
Wright Energy Momentum ETF |
|
|
44,601,753 |
|
|
|
31,920,505 |
|
|
|
|
| Dorsey
Wright Financial Momentum ETF |
|
|
- |
|
|
|
3,304,913 |
|
|
|
|
| Dorsey
Wright Healthcare Momentum ETF |
|
|
4,841,223 |
|
|
|
32,188,938 |
|
|
|
|
| Dorsey
Wright Industrials Momentum ETF |
|
|
34,324,493 |
|
|
|
29,710,276 |
|
|
|
|
| Dorsey
Wright Technology Momentum ETF |
|
|
164,555,210 |
|
|
|
108,002,219 |
|
|
|
|
| Dorsey
Wright Utilities Momentum ETF |
|
|
4,507,841 |
|
|
|
- |
|
|
|
|
| NASDAQ
Internet ETF |
|
|
17,761,714 |
|
|
|
40,141,080 |
|
Gains (losses) on in-kind transactions are generally not
considered taxable gains (losses) for federal income tax purposes. As of
October 31, 2023, the aggregate cost of investments, including any
derivatives, on a tax basis includes adjustments for financial reporting
purposes as of the most recently completed federal income tax reporting
period-end:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Gross
Unrealized
Appreciation |
|
|
Gross
Unrealized
(Depreciation) |
|
|
Net
Unrealized
Appreciation
(Depreciation) |
|
|
Cost |
|
| Dorsey
Wright Basic Materials Momentum ETF |
|
$ |
7,223,591 |
|
|
$ |
(10,294,416 |
) |
|
$ |
(3,070,825 |
) |
|
$ |
127,204,948 |
|
|
|
|
|
|
| Dorsey
Wright Consumer Cyclicals Momentum ETF |
|
|
701,013 |
|
|
|
(1,315,731 |
) |
|
|
(614,718 |
) |
|
|
21,153,980 |
|
| Dorsey
Wright Consumer Staples Momentum ETF |
|
|
6,833,374 |
|
|
|
(5,240,323 |
) |
|
|
1,593,051 |
|
|
|
90,225,665 |
|
|
|
|
|
|
| Dorsey
Wright Energy Momentum ETF |
|
|
7,878,017 |
|
|
|
(2,746,118 |
) |
|
|
5,131,899 |
|
|
|
133,192,670 |
|
| Dorsey
Wright Financial Momentum ETF |
|
|
1,723,879 |
|
|
|
(1,072,491 |
) |
|
|
651,388 |
|
|
|
29,423,896 |
|
|
|
|
|
|
| Dorsey
Wright Healthcare Momentum ETF |
|
|
2,450,009 |
|
|
|
(14,026,844 |
) |
|
|
(11,576,835 |
) |
|
|
162,517,005 |
|
| Dorsey
Wright Industrials Momentum ETF |
|
|
15,386,610 |
|
|
|
(4,253,969 |
) |
|
|
11,132,641 |
|
|
|
131,906,169 |
|
|
|
|
|
|
| Dorsey
Wright Technology Momentum ETF |
|
|
19,165,588 |
|
|
|
(21,986,059 |
) |
|
|
(2,820,471 |
) |
|
|
324,082,612 |
|
| Dorsey
Wright Utilities Momentum ETF |
|
|
1,197,813 |
|
|
|
(6,061,580 |
) |
|
|
(4,863,767 |
) |
|
|
42,850,364 |
|
|
|
|
|
|
| NASDAQ
Internet ETF |
|
|
95,550,099 |
|
|
|
(155,303,541 |
) |
|
|
(59,753,442 |
) |
|
|
657,468,559 |
|
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 the unitary management fee, pays for such compensation
for NASDAQ Internet ETF. The Interested Trustee does not receive any Trustees’
fees.
The Trust has adopted a deferred compensation plan (the “Plan”).
Under the Plan, each Independent Trustee who has executed a Deferred Fee
Agreement (a “Participating Trustee”) may defer receipt of all or a portion of
their compensation (“Deferral Fees”). Such Deferral Fees are deemed to be
invested in select Invesco ETFs. The Deferral Fees payable to a Participating
Trustee are valued as of the date such Deferral Fees would have been paid to a
Participating Trustee. The value increases with contributions or with increases
in the value of the Shares selected, and the value decreases with distributions
or with declines in the value of the Shares selected.
Obligations under the Plan represent unsecured claims against the
general assets of the Funds.
NOTE 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 APs are permitted to purchase or redeem Creation Units from the
Funds. Such transactions are principally permitted in exchange for Deposit
Securities, with a balancing cash component to equate the transaction to the NAV
per Share of a Fund on the transaction date. However, for all Funds, cash in an
amount equivalent to the value of certain securities may be substituted,
generally when the securities are not available in sufficient quantity for
delivery, not eligible for trading by the AP or as a result of other market
circumstances.
To the extent that the Funds permit transactions in exchange for
Deposit Securities, each Fund may issue Shares in advance of receipt of Deposit
Securities subject to various conditions, including a requirement to maintain on
deposit with the Trust cash at least equal to 105% of the market value of the
missing Deposit Securities. In accordance with the Trust’s Participant
Agreement, Creation Units will be issued to an AP, notwithstanding the fact that
the corresponding Deposit Securities have not been received in part or in whole,
in reliance on the undertaking of the AP to deliver the missing Deposit
Securities as soon as possible, which
undertaking shall be secured by the AP’s delivery and maintenance
of collateral consisting of cash in the form of U.S. dollars in immediately
available funds having a value (marked-to-market daily) at least equal to 105%,
which the Adviser may change from time to time, of the value of the missing
Deposit Securities.
Certain transaction fees may be charged by the Funds for creations
and redemptions, which are treated as increases in capital. Transactions in each
Fund’s Shares are disclosed in detail in the Statements of Changes in Net
Assets.
NOTE 9–Stock Split
On June 22, 2023, the Board of Trustees approved the stock
splits set forth in the table below. The effect of the stock splits was to
increase the number of shares outstanding of those Funds, whereby every
outstanding share of the respective Funds was exchanged for three or five
shares, as described below, effective after the close of business on
July 14, 2023. The transactions did not change the net assets of the Funds
or the net asset value of any shareholder’s investment in the Funds.
|
|
|
|
Fund |
|
Stock Split Ratio |
|
Dorsey Wright Healthcare Momentum ETF |
|
3 for 1 |
|
|
|
Dorsey Wright Technology Momentum ETF |
|
3
for 1 |
|
NASDAQ Internet ETF |
|
5
for 1 |
Calculating your ongoing Fund expenses
Example
As a shareholder of a Fund of the Invesco Exchange-Traded Fund
Trust (excluding Invesco NASDAQ Internet ETF), you incur advisory fees and other
Fund expenses. As a shareholder of the Invesco NASDAQ Internet ETF, you incur a
unitary management fee. In addition to the advisory fee or 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 an Interested Trustee, or (iii) any other matters that directly
benefit the Adviser). The expense examples below are intended to help you
understand your ongoing costs (in dollars) of investing in the Funds and to
compare these costs with the ongoing costs of investing in other funds.
The example is based on an investment of $1,000 invested at the
beginning of the period and held for the entire period May 1, 2023 through
October 31, 2023.
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 transaction costs,
such as sales charges and brokerage commissions. Therefore, the second line in
the table is useful in comparing ongoing costs only, and will not help you
determine the relative total costs of owning different funds. In addition, if
these transaction costs were included, your costs would have been higher.
|
|
|
|
|
|
|
|
|
| |
|
Beginning
Account Value
May 1,
2023 |
|
Ending
Account Value
October 31, 2023 |
|
Annualized
Expense Ratio
Based on the
Six-Month Period |
|
Expenses Paid
During the
Six-Month Period(1) |
|
Invesco Dorsey Wright Basic Materials Momentum ETF
(PYZ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
$1,000.00 |
|
$ 905.30 |
|
0.60% |
|
$2.87 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Consumer Cyclicals Momentum ETF
(PEZ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
880.00 |
|
0.60 |
|
2.84 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Consumer Staples Momentum ETF
(PSL) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
898.60 |
|
0.60 |
|
2.86 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Energy Momentum ETF
(PXI) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
1,129.00 |
|
0.60 |
|
3.21 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Financial Momentum ETF
(PFI) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
982.30 |
|
0.60 |
|
2.99 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
Calculating your ongoing Fund expenses–(continued)
|
|
|
|
|
|
|
|
|
| |
|
Beginning
Account Value
May 1,
2023 |
|
Ending
Account Value
October 31, 2023 |
|
Annualized
Expense Ratio
Based on the
Six-Month Period |
|
Expenses Paid
During the
Six-Month Period(1) |
|
|
|
|
|
|
Invesco Dorsey Wright Healthcare Momentum ETF
(PTH) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
$1,000.00 |
|
$756.70 |
|
0.60% |
|
$2.65 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Industrials Momentum ETF
(PRN) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
1,020.80 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Technology Momentum ETF
(PTF) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
1,023.40 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco Dorsey Wright Utilities Momentum ETF
(PUI) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
904.70 |
|
0.60 |
|
2.87 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
|
|
|
|
|
|
Invesco NASDAQ Internet ETF (PNQI) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Actual |
|
1,000.00 |
|
1,065.10 |
|
0.60 |
|
3.11 |
|
|
|
|
|
|
Hypothetical (5% return before expenses) |
|
1,000.00 |
|
1,022.12 |
|
0.60 |
|
3.05 |
| (1) |
Expenses are calculated using the
annualized expense ratio, which represents the ongoing expenses as a
percentage of net assets for the six-month period ended October 31,
2023. Expenses are calculated by multiplying the Fund’s annualized expense
ratio by the average account value for the period, then multiplying the
result by 184/366. |
(This Page Intentionally Left Blank)
(This Page Intentionally Left Blank)
(This Page Intentionally Left Blank)
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.
|
|
|
|
|
| ©2023 Invesco Capital Management LLC |
|
|
|
|
| 3500
Lacey Road, Suite 700 |
|
|
|
|
| Downers Grove, IL
60515 |
|
P-PS-SAR-3 |
|
invesco.com/ETFs |