N-CSRS


		Invesco Semi-Annual Report to Shareholders
		October 31, 2022
		PKW		Invesco BuyBack Achievers^TMETF

		PFM		Invesco Dividend Achievers^TMETF

		DJD		Invesco Dow Jones Industrial Average Dividend ETF

		PGF		Invesco Financial Preferred ETF

		PEY		Invesco High Yield Equity Dividend Achievers^TMETF

		PID		Invesco International Dividend Achievers^TMETF

Table of Contents



Schedules of Investments

Invesco BuyBack Achievers^TMETF (PKW)			3

Invesco Dividend Achievers^TMETF (PFM)			6

Invesco Dow Jones Industrial Average Dividend ETF (DJD)			11

Invesco Financial Preferred ETF (PGF)			13

Invesco High Yield Equity Dividend Achievers^TMETF (PEY)			16

Invesco International Dividend Achievers^TMETF (PID)			19

Statements of Assets and Liabilities			21

Statements of Operations			23

Statements of Changes in Net Assets			25

Financial Highlights			27

Notes to Financial Statements			33

Fund Expenses			44


		2

Invesco BuyBack Achievers^TM ETF (PKW)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)


	Shares		Value
Common Stocks & Other Equity Interests-99.99%
Communication Services-5.72%
Altice USA, Inc., Class A^(b)		234,210	$	1,548,128
Charter Communications, Inc., Class A^(b)		139,189		51,168,660
DHI Group, Inc.^(b)		42,023		268,947
EchoStar Corp., Class A^(b)(c)		30,743		580,121
Lumen Technologies, Inc.^(c)		897,009		6,601,986
Nexstar Media Group, Inc., Class A^(c)		33,611		5,757,564
Sirius XM Holdings, Inc.^(c)		3,373,919		20,378,471
TrueCar, Inc.^(b)		78,517		141,331

				86,445,208

Consumer Discretionary-22.46%
Aaron’s Co., Inc. (The)^(c)		26,665		277,849
Abercrombie & Fitch Co., Class A^(b)(c)		42,846		753,233
Advance Auto Parts, Inc.^(c)		52,085		9,891,983
AutoNation, Inc.^(b)(c)		48,502		5,156,248
AutoZone, Inc.^(b)(c)		16,881		42,757,547
Bath & Body Works, Inc.		197,861		6,604,600
Bed Bath & Beyond, Inc.^(b)(c)		69,625		318,186
Best Buy Co., Inc.^(c)		195,053		13,343,576
Big Lots, Inc.^(c)		25,075		473,165
Carriage Services, Inc.		12,733		310,813
Citi Trends, Inc.^(b)(c)		7,259		164,126
Crocs, Inc.^(b)(c)		53,413		3,778,970
Dillard’s, Inc., Class A^(c)		11,391		3,745,247
Dollar General Corp.		195,434		49,845,442
Domino’s Pizza, Inc.^(c)		31,088		10,328,677
eBay, Inc.		475,965		18,962,446
Flexsteel Industries, Inc.^(c)		4,597		70,656
Grand Canyon Education, Inc.^(b)		27,695		2,786,948
Hibbett, Inc.^(c)		11,094		692,487
Jack in the Box, Inc.^(c)		18,242		1,609,492
Kirkland’s, Inc.^(b)(c)		11,049		41,876
Kohl’s Corp.^(c)		101,055		3,026,597
Laureate Education, Inc., Class A		142,662		1,803,248
Lowe’s Cos., Inc.		351,740		68,571,713
MGM Resorts International		340,578		12,114,359
Murphy USA, Inc.		20,230		6,362,537
NVR, Inc.^(b)		2,846		12,060,636
O’Reilly Automotive, Inc.^(b)		54,859		45,926,309
PulteGroup, Inc.^(c)		200,570		8,020,794
Sleep Number Corp.^(b)(c)		19,031		527,920
Smith & Wesson Brands, Inc.^(c)		39,657		447,728
Taylor Morrison Home Corp., Class A^(b)(c)		98,472		2,593,752
Tempur Sealy International, Inc.^(c)		149,189		4,011,692
Tri Pointe Homes, Inc.^(b)(c)		88,056		1,474,938
Zumiez, Inc.^(b)(c)		16,867		378,327

				339,234,117

Consumer Staples-1.59%
Hain Celestial Group, Inc. (The)^(b)(c)		77,366		1,447,518
Herbalife Nutrition Ltd.^(b)(c)		93,452		1,986,790
Ingles Markets, Inc., Class A		12,452		1,175,095
JM Smucker Co. (The)^(c)		92,321		13,909,082
Post Holdings, Inc.^(b)(c)		51,774		4,681,405
USANA Health Sciences, Inc.^(b)(c)		16,632		873,346

				24,073,236


	Shares		Value
Energy-3.75%
CNX Resources Corp.^(b)(c)		164,138	$	2,759,160
Dorian LPG Ltd.		34,776		628,402
Magnolia Oil & Gas Corp., Class A		163,622		4,201,813
Marathon Petroleum Corp.		432,005		49,084,408

				56,673,783

Financials-29.22%
Affiliated Managers Group, Inc.		33,121		4,112,303
Aflac, Inc.^(c)		547,489		35,647,009
Allstate Corp. (The)^(c)		234,184		29,565,730
Ally Financial, Inc.		267,306		7,366,953
Amerant Bancorp, Inc.^(c)		29,262		880,786
Ameriprise Financial, Inc.		93,715		28,969,181
Arlington Asset Investment Corp., Class A^(b)(c)		25,031		76,094
Assured Guaranty Ltd.^(c)		53,666		3,176,491
Atlanticus Holdings Corp.^(b)(c)		12,545		358,285
Bank of America Corp.^(c)		2,187,413		78,834,365
Bank of New York Mellon Corp. (The)		700,131		29,482,516
Brighthouse Financial, Inc.^(b)(c)		62,222		3,551,010
Capital One Financial Corp.		332,537		35,255,573
Civista Bancshares, Inc.^(c)		13,361		316,656
CNO Financial Group, Inc.^(c)		99,115		2,186,477
Columbia Financial, Inc.^(b)(c)		95,737		1,966,438
Comerica, Inc.		113,343		7,990,681
Consumer Portfolio Services, Inc.^(b)(c)		18,072		116,022
Credit Acceptance Corp.^(b)(c)		11,194		5,212,150
Elevate Credit, Inc.^(b)		26,898		27,436
Encore Capital Group, Inc.^(b)(c)		20,692		1,053,637
Enstar Group Ltd.^(b)		13,846		2,776,400
Equitable Holdings, Inc.^(c)		325,437		9,964,881
First Bancorp		162,872		2,571,749
First Financial Corp.		10,424		505,460
HarborOne Bancorp, Inc.^(c)		43,466		661,987
Hartford Financial Services Group, Inc. (The)^(c)		279,966		20,272,338
Hilltop Holdings, Inc.		55,946		1,619,637
HomeStreet, Inc.^(c)		16,216		420,967
Kearny Financial Corp.^(c)		59,070		598,970
Lincoln National Corp.		147,483		7,944,909
Loews Corp.		208,753		11,903,096
MetLife, Inc.		691,044		50,591,331
Mr. Cooper Group, Inc.^(b)(c)		62,078		2,451,460
Navient Corp.^(c)		122,922		1,861,039
Northfield Bancorp, Inc.		41,943		672,766
Pathward Financial, Inc.		25,171		1,057,937
PennyMac Financial Services, Inc.^(c)		45,457		2,423,767
Popular, Inc.		64,991		4,596,164
Provident Bancorp, Inc.^(c)		15,353		189,763
Radian Group, Inc.^(c)		140,021		2,922,238
Regional Management Corp.		8,304		282,004
RenaissanceRe Holdings Ltd. (Bermuda)		37,865		5,856,958
SLM Corp.		217,795		3,613,219
Synchrony Financial		417,394		14,842,531
Virtu Financial, Inc., Class A		89,274		1,997,952
Voya Financial, Inc.^(c)		84,837		5,799,457
Washington Federal, Inc.		56,597		2,190,304

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


		3

Invesco BuyBack Achievers^TM ETF (PKW)–(continued)

October 31, 2022

(Unaudited)


	Shares		Value
Financials-(continued)
WesBanco, Inc.		51,727	$	2,091,840
WSFS Financial Corp.		55,027		2,562,057

				441,388,974

Health Care-10.72%
Agios Pharmaceuticals, Inc.^(b)(c)		47,495		1,308,012
Allscripts Healthcare Solutions, Inc.^(b)(c)		95,990		1,411,053
Cigna Corp.		238,080		76,914,125
DaVita, Inc.^(b)		79,099		5,775,018
HCA Healthcare, Inc.		248,677		54,079,787
Innoviva, Inc.^(b)(c)		60,393		818,929
Intercept Pharmaceuticals, Inc.^(b)(c)		34,135		473,453
Quest Diagnostics, Inc.^(c)		101,028		14,512,672
Universal Health Services, Inc., Class B^(c)		56,937		6,597,290

				161,890,339

Industrials-7.26%
Acuity Brands, Inc.^(c)		28,343		5,202,925
AECOM		120,991		9,108,202
Allison Transmission Holdings, Inc.^(c)		83,386		3,523,058
Avis Budget Group, Inc.^(b)(c)		41,642		9,846,667
CACI International, Inc., Class A^(b)		20,290		6,168,769
Curtiss-Wright Corp.^(c)		33,266		5,583,033
Dycom Industries, Inc.^(b)(c)		25,520		3,015,954
JELD-WEN Holding, Inc.^(b)		73,001		774,541
KAR Auction Services, Inc.^(b)(c)		100,352		1,458,115
L3Harris Technologies, Inc.		165,786		40,861,275
ManpowerGroup, Inc.		44,828		3,511,826
Masco Corp.		195,389		9,040,649
Owens Corning		83,381		7,138,247
RCM Technologies, Inc.^(b)(c)		8,839		154,682
Trinity Industries, Inc.^(c)		71,052		2,027,114
Veritiv Corp.^(b)(c)		12,100		1,406,746
Wabash National Corp.^(c)		42,065		910,707

				109,732,510

Information Technology-12.70%
Amdocs Ltd.		105,664		9,119,860
Arrow Electronics, Inc.^(b)		55,597		5,629,752
Box, Inc., Class A^(b)		123,304		3,581,981
CDW Corp.		117,174		20,248,839
Diodes, Inc.^(b)(c)		39,404		2,824,085
Dropbox, Inc., Class A^(b)		247,955		5,393,021
Fair Isaac Corp.^(b)(c)		21,877		10,475,583
Gartner, Inc.^(b)		68,529		20,690,276
HP, Inc.		871,538		24,071,880
Oracle Corp.		1,081,708		84,448,943
Silicon Laboratories, Inc.^(b)(c)		29,653		3,407,723
Xerox Holdings Corp.^(c)		134,159		1,962,746

				191,854,689


	Shares		Value
Materials-6.37%
Ashland, Inc.^(c)		46,904	$	4,921,168
Celanese Corp.		93,874		9,023,169
Crown Holdings, Inc.		104,978		7,200,441
DuPont de Nemours, Inc.		433,978		24,823,541
Louisiana-Pacific Corp.^(c)		64,002		3,625,713
Nucor Corp.^(c)		226,806		29,797,772
Steel Dynamics, Inc.		158,213		14,879,933
Worthington Industries, Inc.^(c)		42,044		1,999,613

				96,271,350

Real Estate-0.20%
iStar, Inc.		73,972		775,227
SL Green Realty Corp.		55,708		2,210,493

				2,985,720

Total Common Stocks & Other Equity Interests (Cost $1,592,311,501)				1,510,549,926


Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(d)(e)(Cost $1,283,531)		1,283,531		1,283,531

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.08% (Cost $1,593,595,032)				1,511,833,457


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-10.26%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		46,741,266		46,741,266
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		108,314,078		108,314,078

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $155,054,657)				155,055,344

TOTAL INVESTMENTS IN SECURITIES-110.34% (Cost $1,748,649,689)				1,666,888,801
OTHER ASSETS LESS LIABILITIES-(10.34)%				(156,225,823	)

NET ASSETS-100.00%			$	1,510,662,978

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


		4

Invesco BuyBack Achievers^TM ETF (PKW)–(continued)

October 31, 2022

(Unaudited)

Notes to Schedule of Investments:

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

^(b)	Non-income producing security.

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

^(d)

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


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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$	1,613,071		$	14,201,998		$	(14,531,538	)		$	-			$	-		$	1,283,531		$	10,950

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			44,257,780			152,642,035			(150,158,549	)			-				-			46,741,266			300,394	*

Invesco Private Prime Fund			103,222,386			301,946,832			(296,859,218	)			(6,735	)			10,813			108,314,078			828,331	*


Total		$	149,093,237		$	468,790,865		$	(461,549,305	)		$	(6,735	)		$	10,813		$	156,338,875		$	1,139,675

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

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

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

Portfolio Composition

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

as of October 31, 2022



Financials			29.22

Consumer Discretionary			22.46

Information Technology			12.70

Health Care			10.72

Industrials			7.26

Materials			6.37

Communication Services			5.72

Energy			3.75

Sector Types Each Less Than 3%			1.79

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.


		5

Invesco Dividend Achievers^TM ETF (PFM)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)


	Shares		Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-1.93%
Comcast Corp., Class A		192,934	$	6,123,725
John Wiley & Sons, Inc., Class A^(b)		2,047		86,363
Telephone & Data Systems, Inc.		4,648		79,016
Verizon Communications, Inc.		184,002		6,876,155

				13,165,259

Consumer Discretionary-6.90%
Best Buy Co., Inc.		9,870		675,207
Churchill Downs, Inc.		1,681		349,497
Dillard’s, Inc., Class A^(b)		602		197,932
Gentex Corp.		10,313		273,191
Genuine Parts Co.		6,203		1,103,266
Home Depot, Inc. (The)		44,942		13,308,674
Leggett & Platt, Inc.^(b)		5,828		196,695
Lithia Motors, Inc., Class A^(b)		1,224		242,536
Lowe’s Cos., Inc.		27,200		5,302,640
McDonald’s Corp.		32,335		8,816,461
Monro, Inc.^(b)		1,432		68,378
NIKE, Inc., Class B		55,361		5,130,857
PetMed Express, Inc.^(b)		935		19,934
Polaris, Inc.^(b)		2,620		266,192
Pool Corp.^(b)		1,761		535,749
Service Corp. International		6,897		418,027
Starbucks Corp.		50,278		4,353,572
Target Corp.		20,152		3,309,966
Thor Industries, Inc.^(b)		2,408		196,180
Tractor Supply Co.		4,850		1,065,884
VF Corp.		17,018		480,758
Whirlpool Corp.		2,395		331,085
Williams-Sonoma, Inc.^(b)		3,000		371,490

				47,014,171

Consumer Staples-14.00%
Altria Group, Inc.		78,904		3,650,888
Andersons, Inc. (The)^(b)		1,495		52,729
Archer-Daniels-Midland Co.		24,555		2,381,344
Brown-Forman Corp., Class B		13,581		923,508
Casey’s General Stores, Inc.		1,657		385,600
Church & Dwight Co., Inc.		10,630		788,002
Clorox Co. (The)		5,391		787,302
Coca-Cola Co. (The)		189,908		11,365,994
Colgate-Palmolive Co.		36,560		2,699,590
Costco Wholesale Corp.		19,465		9,761,697
Flowers Foods, Inc.		9,276		266,314
Hershey Co. (The)		6,445		1,538,873
Hormel Foods Corp.		23,909		1,110,573
Ingredion, Inc.		2,848		253,814
J&J Snack Foods Corp.^(b)		854		126,059
JM Smucker Co. (The)		4,681		705,239
Kellogg Co.		14,895		1,144,234
Kimberly-Clark Corp.		14,784		1,840,017
Kroger Co. (The)		31,361		1,483,062
Lancaster Colony Corp.^(b)		1,224		220,663
McCormick & Co., Inc.		10,966		862,366
Nu Skin Enterprises, Inc., Class A		2,212		84,476
PepsiCo, Inc.		60,599		11,003,566
Philip Morris International, Inc.		67,901		6,236,707
Procter & Gamble Co. (The)		104,748		14,106,413


	Shares		Value
Consumer Staples-(continued)
SpartanNash Co.^(b)		1,598	$	57,064
Sysco Corp.		22,162		1,918,343
Tootsie Roll Industries, Inc.^(b)		1,789		72,258
Tyson Foods, Inc., Class A		12,678		866,541
Universal Corp.		1,085		54,912
Walgreens Boots Alliance, Inc.		37,859		1,381,853
Walmart, Inc.		120,323		17,125,573
WD-40 Co.		604		96,737

				95,352,311

Energy-5.68%
Chevron Corp.		85,946		15,547,631
Enterprise Products Partners L.P.		95,474		2,410,719
Exxon Mobil Corp.		182,882		20,265,155
Magellan Midstream Partners L.P.		9,092		490,513

				38,714,018

Financials-13.25%
1st Source Corp.		1,093		63,569
Aflac, Inc.		27,670		1,801,594
Allstate Corp. (The)		11,848		1,495,810
American Equity Investment Life Holding Co.		3,840		165,427
American Financial Group, Inc.		3,730		541,260
Ameriprise Financial, Inc.		4,753		1,469,247
Aon PLC, Class A		9,236		2,599,842
Arthur J. Gallagher & Co.		9,210		1,723,007
Associated Banc-Corp^(b)		6,598		160,661
Assurant, Inc.		2,338		317,641
Assured Guaranty Ltd.^(b)		2,726		161,352
Atlantic Union Bankshares Corp.^(b)		3,265		112,773
AXIS Capital Holdings Ltd.		3,702		202,388
BancFirst Corp.^(b)		1,458		139,706
Bank of Marin Bancorp^(b)		707		25,523
Bank of New York Mellon Corp. (The)		35,390		1,490,273
Bank OZK^(b)		5,175		222,422
BlackRock, Inc.		6,619		4,275,278
BOK Financial Corp.^(b)		2,960		326,162
Brown & Brown, Inc.		12,388		728,291
Cboe Global Markets, Inc.		4,659		580,045
Chubb Ltd.		18,285		3,929,264
Cincinnati Financial Corp.^(b)		6,965		719,624
City Holding Co.^(b)		661		66,662
CME Group, Inc., Class A		15,754		2,730,168
Cohen & Steers, Inc.^(b)		2,137		128,562
Commerce Bancshares, Inc.^(b)		5,245		371,556
Community Bank System, Inc.^(b)		2,358		147,210
Community Trust Bancorp, Inc.		791		37,406
Cullen/Frost Bankers, Inc.^(b)		2,823		437,706
Discover Financial Services		11,976		1,251,013
Erie Indemnity Co., Class A^(b)		2,025		520,445
Evercore, Inc., Class A^(b)		1,741		182,979
FactSet Research Systems, Inc.		1,689		718,653
Federal Agricultural Mortgage Corp., Class C^(b)		409		47,117
Fidelity National Financial, Inc.		12,115		477,089
Fifth Third Bancorp		30,055		1,072,663
Financial Institutions, Inc.		667		15,895
First American Financial Corp.^(b)		4,575		230,580
First Community Bankshares, Inc.		717		26,701

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


		6

Invesco Dividend Achievers^TM ETF (PFM)–(continued)

October 31, 2022

(Unaudited)


	Shares		Value
Financials-(continued)
First Financial Bankshares, Inc.^(b)		6,253	$	240,678
First Financial Corp.		542		26,282
First Merchants Corp.^(b)		2,617		117,503
First of Long Island Corp. (The)		1,001		17,598
Franklin Resources, Inc.		21,871		512,875
Globe Life, Inc.		4,276		493,964
Goldman Sachs Group, Inc. (The)		14,950		5,150,424
Hanover Insurance Group, Inc. (The)		1,585		232,187
Heritage Financial Corp.		1,551		52,253
Hingham Institution for Savings (The)		95		23,489
Home BancShares, Inc.^(b)		8,964		228,492
Horace Mann Educators Corp.		1,831		72,251
Horizon Bancorp, Inc.		1,934		28,836
Huntington Bancshares, Inc.		63,186		959,163
Independent Bank Corp.^(b)		2,012		175,064
International Bancshares Corp.^(b)		2,739		135,854
JPMorgan Chase & Co.		128,772		16,209,819
KeyCorp		40,872		730,383
Lakeland Bancorp, Inc.^(b)		2,853		53,208
Lakeland Financial Corp.^(b)		1,128		93,229
Lincoln National Corp.		7,455		401,601
MarketAxess Holdings, Inc.		1,674		408,523
Marsh & McLennan Cos., Inc.		21,875		3,532,594
Moody’s Corp.^(b)		8,045		2,130,879
Morningstar, Inc.^(b)		1,889		438,588
Northwest Bancshares, Inc.		5,530		83,282
Old Republic International Corp.		13,537		314,194
PNC Financial Services Group, Inc. (The)^(b)		17,980		2,909,703
Premier Financial Corp.		1,564		45,121
Primerica, Inc.^(b)		1,666		241,070
Principal Financial Group, Inc.		10,911		961,586
Prosperity Bancshares, Inc.^(b)		4,012		287,139
Prudential Financial, Inc.		16,284		1,712,914
Raymond James Financial, Inc.		9,454		1,116,896
Reinsurance Group of America, Inc.		2,922		430,031
RenaissanceRe Holdings Ltd. (Bermuda)		1,915		296,212
Republic Bancorp, Inc., Class A		788		36,524
RLI Corp.^(b)		1,989		258,709
S&P Global, Inc.		14,601		4,690,571
Sandy Spring Bancorp, Inc.		1,966		69,675
SEI Investments Co.		5,939		322,488
Simmons First National Corp., Class A^(b)		5,620		134,149
South State Corp.^(b)		3,307		299,052
Southern Missouri Bancorp, Inc.		411		21,064
Southside Bancshares, Inc.^(b)		1,420		48,621
State Street Corp.		16,118		1,192,732
Stock Yards Bancorp, Inc.^(b)		1,301		101,725
T. Rowe Price Group, Inc.^(b)		9,893		1,050,241
Tompkins Financial Corp.^(b)		642		53,183
Towne Bank^(b)		3,191		105,112
Travelers Cos., Inc. (The)		10,410		1,920,229
Truist Financial Corp.		58,123		2,603,329
U.S. Bancorp		65,096		2,763,325
UMB Financial Corp.^(b)		2,119		176,343
United Bankshares, Inc.^(b)		5,905		250,077
Unum Group		8,763		399,505
W.R. Berkley Corp.		11,624		864,593
Washington Federal, Inc.		2,869		111,030
Washington Trust Bancorp, Inc.		767		37,200


	Shares		Value
Financials-(continued)
WesBanco, Inc.		2,648	$	107,085
Westamerica Bancorporation		1,188		74,523

				90,268,534

Health Care-16.93%
Abbott Laboratories		76,974		7,615,808
AmerisourceBergen Corp.		9,073		1,426,457
Amgen, Inc.		23,444		6,338,085
Atrion Corp.^(b)		79		47,425
Becton, Dickinson and Co.		12,481		2,945,142
Bristol-Myers Squibb Co.		93,547		7,247,086
Cardinal Health, Inc.		11,946		906,701
Chemed Corp.		662		309,068
Elevance Health, Inc.		10,500		5,741,085
Ensign Group, Inc. (The)^(b)		2,427		217,896
Humana, Inc.		5,542		3,092,879
Johnson & Johnson		115,384		20,073,354
LeMaitre Vascular, Inc.^(b)		970		42,098
McKesson Corp.		6,306		2,455,367
Medtronic PLC		58,240		5,086,682
Merck & Co., Inc.		111,266		11,260,119
National HealthCare Corp.		684		41,669
Perrigo Co. PLC^(b)		5,900		237,652
Pfizer, Inc.		246,469		11,473,132
Quest Diagnostics, Inc.		5,099		732,471
STERIS PLC^(b)		4,390		757,626
Stryker Corp.^(b)		16,565		3,797,361
UnitedHealth Group, Inc.		41,031		22,778,360
West Pharmaceutical Services, Inc.		3,235		744,374

				115,367,897

Industrials-12.19%
3M Co.		24,966		3,140,473
A.O. Smith Corp.		5,627		308,247
ABM Industries, Inc.^(b)		2,905		129,302
Apogee Enterprises, Inc.^(b)		981		45,008
Applied Industrial Technologies, Inc.		1,712		212,939
Brady Corp., Class A^(b)		2,038		93,238
C.H. Robinson Worldwide, Inc.^(b)		5,423		529,936
Carlisle Cos., Inc.^(b)		2,271		542,315
Caterpillar, Inc.		23,131		5,006,936
Cintas Corp.		4,481		1,915,852
CSX Corp.		93,813		2,726,206
Cummins, Inc.^(b)		6,184		1,512,050
Donaldson Co., Inc.		5,378		308,966
Douglas Dynamics, Inc.		1,012		34,357
Dover Corp.		6,301		823,478
Eaton Corp. PLC		17,454		2,619,322
Emerson Electric Co.		25,903		2,243,200
Expeditors International of Washington, Inc.^(b)		7,160		700,606
Fastenal Co.		25,182		1,217,046
Franklin Electric Co., Inc.		2,030		166,338
GATX Corp.		1,573		164,709
General Dynamics Corp.		12,023		3,003,345
Gorman-Rupp Co. (The)		1,153		31,292
Graco, Inc.		7,406		515,309
Griffon Corp.^(b)		2,496		80,221
Healthcare Services Group, Inc.		3,247		45,328
HEICO Corp.^(b)		2,395		389,523
Hillenbrand, Inc.^(b)		3,031		133,910

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


		7

Invesco Dividend Achievers^TM ETF (PFM)–(continued)

October 31, 2022

(Unaudited)


	Shares		Value
Industrials-(continued)
HNI Corp.^(b)		1,838	$	53,284
Honeywell International, Inc.		29,528		6,024,303
Hubbell, Inc.		2,358		559,978
IDEX Corp.		3,299		733,401
Illinois Tool Works, Inc.		13,568		2,897,175
Insperity, Inc.^(b)		1,691		199,572
ITT, Inc.		3,620		276,532
J.B. Hunt Transport Services, Inc.		4,559		779,908
L3Harris Technologies, Inc.		8,395		2,069,116
Lennox International, Inc.^(b)		1,576		368,106
Lincoln Electric Holdings, Inc.^(b)		2,547		361,674
Lindsay Corp.		485		82,110
Lockheed Martin Corp.^(b)		11,619		5,654,735
ManpowerGroup, Inc.		2,272		177,988
Matthews International Corp., Class A^(b)		1,384		37,202
McGrath RentCorp		1,084		101,950
MDU Resources Group, Inc.		8,890		253,187
MSA Safety, Inc.		1,740		233,578
Nordson Corp.^(b)		2,517		566,325
Northrop Grumman Corp.^(b)		6,765		3,714,053
Raytheon Technologies Corp.		64,683		6,133,242
Regal Rexnord Corp.		2,899		366,839
Republic Services, Inc.		13,848		1,836,522
Robert Half International, Inc.^(b)		4,786		365,938
Rockwell Automation, Inc.		5,047		1,288,499
Ryder System, Inc.		2,248		180,986
Snap-on, Inc.		2,339		519,375
Standex International Corp.		533		52,794
Stanley Black & Decker, Inc.^(b)		6,487		509,165
Tennant Co.^(b)		821		47,823
Toro Co. (The)^(b)		4,593		484,240
Trane Technologies PLC		10,161		1,622,000
Trinity Industries, Inc.^(b)		3,589		102,394
Union Pacific Corp.		27,368		5,395,327
United Parcel Service, Inc., Class B		32,057		5,378,203
W.W. Grainger, Inc.		2,234		1,305,438
Waste Management, Inc.		18,135		2,872,040
Xylem, Inc.^(b)		7,898		808,992

				83,053,446

Information Technology-19.65%
Accenture PLC, Class A		27,795		7,891,001
Amphenol Corp., Class A		26,050		1,975,372
Analog Devices, Inc.		22,528		3,212,943
Automatic Data Processing, Inc.		18,191		4,396,765
Badger Meter, Inc.		1,302		146,449
Broadcom, Inc.		17,769		8,353,562
Broadridge Financial Solutions, Inc.		5,130		769,808
Cass Information Systems, Inc.^(b)		607		25,967
Cisco Systems, Inc.		182,042		8,270,168
Corning, Inc.		37,045		1,191,738
HP, Inc.		45,298		1,251,131
International Business Machines Corp.		39,561		5,470,891
Intuit, Inc.		12,373		5,289,458
Jack Henry & Associates, Inc.		3,184		633,807
KLA Corp.		6,220		1,968,319
Littelfuse, Inc.^(b)		1,101		242,495
Mastercard, Inc., Class A		42,104		13,817,691
Microchip Technology, Inc.		24,195		1,493,799
Microsoft Corp.		103,055		23,922,157


	Shares		Value
Information Technology-(continued)
Motorola Solutions, Inc.		7,306	$	1,824,381
Oracle Corp.		117,154		9,146,213
Paychex, Inc.		15,775		1,866,340
QUALCOMM, Inc.		49,193		5,788,048
Roper Technologies, Inc.		4,657		1,930,513
TE Connectivity Ltd. (Switzerland)		14,022		1,713,909
Texas Instruments, Inc.		40,029		6,429,858
Visa, Inc., Class A^(b)		71,783		14,870,566

				133,893,349

Materials-2.86%
Air Products and Chemicals, Inc.		9,720		2,433,888
Albemarle Corp.^(b)		5,122		1,433,494
AptarGroup, Inc.^(b)		2,843		281,884
Ashland, Inc.		2,385		250,234
Avery Dennison Corp.		3,556		602,920
Avient Corp.		3,988		137,546
Balchem Corp.^(b)		1,429		199,774
Cabot Corp.^(b)		2,469		181,422
Celanese Corp.		4,761		457,627
Eastman Chemical Co.		5,375		412,854
Ecolab, Inc.		12,472		1,958,977
H.B. Fuller Co.^(b)		2,335		162,773
Hawkins, Inc.		932		41,968
International Flavors & Fragrances, Inc.		11,165		1,089,816
Kaiser Aluminum Corp.^(b)		703		56,795
LyondellBasell Industries N.V., Class A^(b)		14,305		1,093,617
Nucor Corp.		11,469		1,506,797
Packaging Corp. of America^(b)		4,111		494,183
PPG Industries, Inc.		10,307		1,176,853
Quaker Chemical Corp.^(b)		797		129,624
Reliance Steel & Aluminum Co.		2,653		534,527
Royal Gold, Inc.^(b)		2,853		270,921
RPM International, Inc.^(b)		5,657		534,983
Scotts Miracle-Gro Co. (The)^(b)		2,435		111,791
Sensient Technologies Corp.		1,870		133,630
Sherwin-Williams Co. (The)		11,353		2,554,766
Silgan Holdings, Inc.^(b)		4,815		228,038
Sonoco Products Co.		4,279		265,640
Stepan Co.^(b)		989		103,291
Westlake Corp.^(b)		5,604		541,627
Worthington Industries, Inc.^(b)		2,174		103,395

				19,485,655

Real Estate-1.49%
Alexandria Real Estate Equities, Inc.^(b)		7,141		1,037,587
CubeSmart		9,838		411,917
Digital Realty Trust, Inc.^(b)		12,580		1,261,145
EastGroup Properties, Inc.		1,909		299,121
Equity LifeStyle Properties, Inc.		8,160		521,914
Essex Property Trust, Inc.		2,875		638,940
Extra Space Storage, Inc.		5,869		1,041,395
Federal Realty Investment Trust		3,540		350,389
Kennedy-Wilson Holdings, Inc.		6,041		100,341
Mid-America Apartment Communities, Inc.		5,047		794,650
National Retail Properties, Inc.		7,761		326,195
Realty Income Corp.		27,061		1,685,089
STAG Industrial, Inc.		7,855		248,140
Terreno Realty Corp.		3,310		189,133
UDR, Inc.		14,248		566,501

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


		8

Invesco Dividend Achievers^TM ETF (PFM)–(continued)

October 31, 2022

(Unaudited)


	Shares		Value
Real Estate-(continued)
Universal Health Realty Income Trust^(b)		609	$	29,640
W.P. Carey, Inc.^(b)		8,464		645,803

				10,147,900

Utilities-5.06%
ALLETE, Inc.		2,509		141,181
Alliant Energy Corp.		10,986		573,140
American Electric Power Co., Inc.		22,501		1,978,288
American States Water Co.^(b)		1,644		148,716
American Water Works Co., Inc.		7,969		1,158,214
Atmos Energy Corp.		6,135		653,684
Avista Corp.		3,188		130,804
Black Hills Corp.^(b)		2,873		187,808
Brookfield Infrastructure Partners L.P. (Canada)		20,046		729,273
California Water Service Group		2,389		148,261
Chesapeake Utilities Corp.^(b)		789		98,136
CMS Energy Corp.		12,704		724,763
Consolidated Edison, Inc.		15,538		1,366,723
DTE Energy Co.		8,501		953,047
Duke Energy Corp.		33,723		3,142,309
Edison International		16,704		1,002,908
Essential Utilities, Inc.		11,486		507,911
Evergy, Inc.		10,063		615,151
Eversource Energy		15,176		1,157,625
IDACORP, Inc.		2,220		232,434
MGE Energy, Inc.		1,608		109,489
Middlesex Water Co.^(b)		783		70,055
National Fuel Gas Co.		4,010		270,635
New Jersey Resources Corp.^(b)		4,222		188,470
NextEra Energy, Inc.		86,081		6,671,278
NiSource, Inc.		17,794		457,128
Northwest Natural Holding Co.		1,549		74,491
NorthWestern Corp.		2,468		130,384
OGE Energy Corp.		8,757		320,769
Pinnacle West Capital Corp.		4,941		332,085
Portland General Electric Co.		3,911		175,760
Public Service Enterprise Group, Inc.		21,868		1,226,139
Sempra Energy		13,776		2,079,349


	Shares		Value
Utilities-(continued)
SJW Group		1,345	$	95,065
Southern Co. (The)		46,582		3,050,189
Southwest Gas Holdings, Inc.		2,922		213,511
Spire, Inc.		2,306		160,982
UGI Corp.		9,162		323,693
WEC Energy Group, Inc.		13,826		1,262,729
Xcel Energy, Inc.		23,951		1,559,450
York Water Co. (The)		630		27,443

				34,449,470

Total Common Stocks & Other Equity Interests (Cost $592,859,847)				680,912,010


Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(c)(d)(Cost $418,568)		418,568		418,568

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.00% (Cost $593,278,415)				681,330,578


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-7.10%
Invesco Private Government Fund, 3.18%^(c)(d)(e)		13,538,025		13,538,025
Invesco Private Prime Fund, 3.28%^(c)(d)(e)		34,827,133		34,827,133

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $48,363,133)				48,365,158

TOTAL INVESTMENTS IN SECURITIES-107.10% (Cost $641,641,548)				729,695,736
OTHER ASSETS LESS LIABILITIES-(7.10)%				(48,365,873	)

NET ASSETS-100.00%			$	681,329,863

Notes to Schedule of Investments:

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

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

^(c)


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

Investments in Affiliated Money Market Funds: Invesco Government & Agency

Portfolio, Institutional Class		$ 376,010		$ 10,368,502		$ (10,325,944)		$ -		$ -		$ 418,568		$ 5,121

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


		9

Invesco Dividend Achievers^TM ETF (PFM)–(continued)

October 31, 2022

(Unaudited)


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

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	4,539,079		$	73,895,935		$	(64,896,989	)		$	-		$	-			$	13,538,025		$	68,393	*

Invesco Private Prime Fund			10,586,044			168,738,789			(144,499,098	)			2,024			(626	)			34,827,133			187,234	*

Total		$	15,501,133		$	253,003,226		$	(219,722,031	)		$	2,024		$	(626	)		$	48,783,726		$	260,748

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

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

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

Portfolio Composition

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

as of October 31, 2022



Information Technology			19.65

Health Care			16.93

Consumer Staples			14.00

Financials			13.25

Industrials			12.19

Consumer Discretionary			6.90

Energy			5.68

Utilities			5.06

Sector Types Each Less Than 3%			6.28

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.


		10

Invesco Dow Jones Industrial Average Dividend ETF (DJD)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)


	Shares		Value
Common Stocks & Other Equity Interests-99.77%
Communication Services-6.72%
Verizon Communications, Inc.		461,928	$	17,262,249


Consumer Discretionary-7.25%
Home Depot, Inc. (The)		27,945		8,275,353
McDonald’s Corp.		26,802		7,307,833
NIKE,Inc.,Class B		32,833		3,042,963

				18,626,149

Consumer Staples-15.58%
Coca-Cola Co. (The)		145,858		8,729,601
Procter & Gamble Co. (The)		60,169		8,102,959
Walgreens Boots Alliance, Inc.		481,553		17,576,685
Walmart, Inc.		39,266		5,588,730

				39,997,975

Energy-5.05%
Chevron Corp.		71,614		12,954,973


Financials-13.19%
American Express Co.		27,468		4,077,624
Goldman Sachs Group, Inc. (The)		28,175		9,706,570
JPMorgan Chase & Co.		94,085		11,843,420
Travelers Cos., Inc. (The)		44,580		8,223,227

				33,850,841

Health Care-14.35%
Amgen, Inc.		41,558		11,235,205
Johnson & Johnson		53,887		9,374,722
Merck & Co., Inc.		118,000		11,941,600
UnitedHealth Group, Inc.		7,709		4,279,651

				36,831,178

Industrials-12.49%
3M Co.		124,102		15,610,791
Caterpillar, Inc.		43,601		9,437,872
Honeywell International, Inc.		34,340		7,006,047

				32,054,710

Information Technology-18.83%
Apple, Inc.		11,828		1,813,705


	Shares		Value
Information Technology-(continued)
Cisco Systems, Inc.		236,745	$	10,755,325
Intel Corp.		463,392		13,174,235
International Business Machines Corp.		126,732		17,525,768
Microsoft Corp.		11,405		2,647,443
Visa, Inc., Class A^(b)		11,692		2,422,115

				48,338,591

Materials-6.31%
Dow, Inc.		346,353		16,188,539

Total Common Stocks & Other Equity Interests (Cost $268,480,950)				256,105,205


Money Market Funds-0.07%
Invesco Government & Agency Portfolio, Institutional Class, 3.07%^(c)(d)(Cost $180,606)		180,606		180,606

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.84% (Cost $268,661,556)				256,285,811


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-0.23%
Invesco Private Government Fund, 3.18%^(c)(d)(e)		163,342		163,342
Invesco Private Prime Fund, 3.28%^(c)(d)(e)		417,924		417,924

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $581,227)				581,266

TOTAL INVESTMENTS IN SECURITIES-100.07% (Cost $269,242,783)				256,867,077
OTHER ASSETS LESS LIABILITIES-(0.07)%				(174,809	)

NET ASSETS-100.00%			$	256,692,268

Notes to Schedule of Investments:

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

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

^(c)


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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$109,718		$4,475,447		$(4,404,559)		$ -		$ -		$180,606		$ 2,079

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


		11

Invesco Dow Jones Industrial Average Dividend ETF (DJD)–(continued)

October 31, 2022

(Unaudited)


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

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	3,630,562		$	31,268,058		$	(34,735,278	)		$	-			$	-			$	163,342		$	22,946	*

Invesco Private Prime Fund			8,467,759			39,375,248			(47,424,922	)			(67	)			(94	)			417,924			53,946	*

Total		$	12,208,039		$	75,118,753		$	(86,564,759	)		$	(67	)		$	(94	)		$	761,872		$	78,971

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

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

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

Portfolio Composition

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

as of October 31, 2022



Information Technology			18.83

Consumer Staples			15.58

Health Care			14.35

Financials			13.19

Industrials			12.49

Consumer Discretionary			7.25

Communication Services			6.72

Materials			6.31

Energy			5.05

Money Market Funds Plus Other Assets Less Liabilities			0.23

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


		12

Invesco Financial Preferred ETF (PGF)

October 31, 2022

(Unaudited)

Schedule of Investments^(a)


	Shares		Value
Preferred Stocks-99.74%
Banks-57.90%
Bank of America Corp.
Series PP, Pfd., 4.13%^(b)		673,338	$	10,968,676
Series QQ, Pfd., 4.25%		919,239		15,332,907
Series NN, Pfd., 4.38%^(b)		809,490		14,093,221
Series SS, Pfd., 4.75%^(b)		490,379		9,552,583
Series LL, Pfd., 5.00%		954,702		19,036,758
Series KK, Pfd., 5.38%		986,848		21,118,547
Series HH, Pfd., 5.88%^(b)		598,520		13,879,679
Series GG, Pfd., 6.00%^(b)		950,597		22,624,209
Bank OZK, Series A, Pfd., 4.63%		249,988		4,149,801
Citigroup, Inc.
Series K, Pfd., 6.88%^(c)		1,073,580		27,097,159
Series J, Pfd., 7.13%^(b)(c)		673,035		16,798,954
Citizens Financial Group, Inc.
Series E, Pfd., 5.00%^(b)		326,575		6,296,366
Series D, Pfd., 6.35%^(c)		210,078		4,926,329
Fifth Third Bancorp
Series K, Pfd., 4.95%		176,812		3,393,022
Series I, Pfd., 6.63%^(b)(c)		323,060		8,147,573
First Citizens BancShares, Inc., Series A, Pfd., 5.38%		246,460		5,027,784
First Republic Bank
Series M, Pfd., 4.00%^(b)		534,021		8,015,655
Series K, Pfd., 4.13%^(b)		363,991		5,616,381
Series L, Pfd., 4.25%^(b)		530,774		8,428,691
Series N, Pfd., 4.50%		535,316		9,014,721
Series J, Pfd., 4.70%^(b)		275,607		4,842,415
Series I, Pfd., 5.50%^(b)		213,020		4,569,279
Huntington Bancshares, Inc., Series H, Pfd., 4.50%^(b)		357,162		6,221,762
JPMorgan Chase & Co.
Series MM, Pfd., 4.20%^(b)		1,425,777		24,537,622
Series JJ, Pfd., 4.55%		1,082,409		19,710,668
Series LL, Pfd., 4.63%^(b)		1,314,637		24,373,370
Series GG, Pfd., 4.75%^(b)		643,738		12,720,263
Series DD, Pfd., 5.75%^(b)		1,212,107		28,084,519
Series EE, Pfd., 6.00%^(b)		1,316,117		32,113,255
KeyCorp
Series G, Pfd., 5.63%		352,401		7,453,281
Series F, Pfd., 5.65%^(b)		324,362		6,857,013
Series E, Pfd., 6.13%^(c)		379,675		8,861,614
Pfd., 6.20%^(c)		360,805		8,796,426
M&T Bank Corp., Series H, Pfd., 5.63%^(c)		178,583		4,060,977
Regions Financial Corp.
Series E, Pfd., 4.45%^(b)		282,052		4,930,269
Series C, Pfd., 5.70%^(c)		363,933		7,577,085
Series B, Pfd., 6.38%^(b)(c)		353,694		8,736,242
Signature Bank, Series A, Pfd., 5.00%^(b)		521,447		9,187,896
SVB Financial Group, Series A, Pfd., 5.25%		273,935		4,952,745
Synovus Financial Corp., Series E, Pfd., 5.88%^(c)		249,990		5,524,779
Texas Capital Bancshares, Inc., Series B, Pfd., 5.75%		214,285		4,249,272
Truist Financial Corp.
Series R, Pfd., 4.75%^(b)		662,366		12,551,836
Series O, Pfd., 5.25%^(b)		409,354		8,625,089


	Shares		Value
Banks-(continued)
U.S. Bancorp
Series L, Pfd., 3.75%^(b)		394,649	$	5,971,039
Series M, Pfd., 4.00%^(b)		575,226		9,307,157
Series O, Pfd., 4.50%		279,953		5,179,130
Series K, Pfd., 5.50%^(b)		388,756		8,789,773
Washington Federal, Inc., Series A, Pfd., 4.88%		214,281		3,734,918
Wells Fargo & Co.
Series DD, Pfd., 4.25%^(b)		886,048		14,221,070
Series CC, Pfd., 4.38%		749,296		12,423,328
Series AA, Pfd., 4.70%^(b)		828,947		14,879,599
Series Z, Pfd., 4.75%^(b)		1,454,665		26,183,970
Series Y, Pfd., 5.63%^(b)		487,666		10,401,916
Series Q, Pfd., 5.85%^(c)		1,230,192		27,986,868
Series R, Pfd., 6.63%^(b)(c)		601,022		15,031,560
Western Alliance Bancorporation, Series A, Pfd., 4.25%^(c)		214,283		4,285,660

				651,452,681

Capital Markets-17.18%
Apollo Asset Management, Inc.
Series A, Pfd., 6.38%^(b)		201,274		4,361,608
Series B, Pfd., 6.38%		174,900		3,812,820
Charles Schwab Corp. (The)
Series J, Pfd., 4.45%^(b)		427,340		7,850,236
Series D, Pfd., 5.95%		536,775		12,361,928
Goldman Sachs Group, Inc. (The)
Series J, Pfd., 5.50%^(b)(c)		712,022		17,522,861
Series K, Pfd., 6.38%^(c)		502,284		12,431,529
Morgan Stanley
Series O, Pfd., 4.25%		926,658		15,085,992
Series L, Pfd., 4.88%		356,406		6,921,405
Series K, Pfd., 5.85%^(b)(c)		712,834		16,331,027
Series I, Pfd., 6.38%^(c)		712,825		17,314,519
Series P, Pfd., 6.50%		719,269		17,837,871
Series F, Pfd., 6.88%^(b)(c)		605,880		15,159,118
Series E, Pfd., 7.13%^(c)		614,833		15,401,567
Northern Trust Corp., Series E, Pfd., 4.70%^(b)		285,750		5,720,715
State Street Corp.
Series G, Pfd., 5.35%^(b)(c)		361,202		8,686,908
Series D, Pfd., 5.90%^(b)(c)		531,704		12,957,626
Stifel Financial Corp., Series D, Pfd., 4.50%^(b)		214,281		3,469,209

				193,226,939

Consumer Finance-5.00%
Capital One Financial Corp.
Series N, Pfd., 4.25%^(b)		303,212		4,790,750
Series L, Pfd., 4.38%^(b)		472,459		7,512,098
Series J, Pfd., 4.80%		876,296		15,247,550
Series I, Pfd., 5.00%^(b)		1,055,781		19,563,622
Synchrony Financial, Series A, Pfd., 5.63%^(b)		535,736		9,091,440

				56,205,460

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


		13

Invesco Financial Preferred ETF (PGF)–(continued)

October 31, 2022

(Unaudited)


	Shares		Value
Diversified Financial Services-1.66%
Equitable Holdings, Inc.
Series C, Pfd., 4.30%^(b)		212,182	$	3,464,932
Series A, Pfd., 5.25%		573,363		10,676,019
Voya Financial, Inc., Series B, Pfd., 5.35%^(c)		214,281		4,540,615

				18,681,566

Insurance-16.96%
Allstate Corp. (The)
Series I, Pfd., 4.75%		214,224		3,997,420
Series H, Pfd., 5.10%^(b)		826,071		16,232,295
Series G, Pfd., 5.63%^(b)		406,645		8,832,329
American Equity Investment Life Holding Co.
Series A, Pfd., 5.95%^(c)		306,671		6,909,298
Series B, Pfd., 6.63%^(c)		194,299		4,499,965
American International Group, Inc.,
Series A, Pfd., 5.85%^(b)		357,161		7,857,542
Arch Capital Group Ltd.
Series G, Pfd., 4.55%^(b)		381,702		6,702,687
Series F, Pfd., 5.45%^(b)		215,441		4,364,835
Aspen Insurance Holdings Ltd.
Pfd., 5.63% (Bermuda)		191,653		3,698,903
Pfd., 5.63% (Bermuda)		194,140		3,686,719
Pfd., 5.95% (Bermuda)^(c)		188,285		4,294,781
Athene Holding Ltd.
Series D, Pfd., 4.88%^(b)		437,561		7,530,425
Series B, Pfd., 5.63%^(b)		246,880		5,073,384
Series A, Pfd., 6.35%^(c)		622,436		14,820,201
Series C, Pfd., 6.38%^(c)		419,071		10,447,440
AXIS Capital Holdings Ltd., Series E, Pfd., 5.50%^(b)		392,867		7,763,052
Brighthouse Financial, Inc.
Series D, Pfd., 4.63%^(b)		248,577		3,798,256
Series C, Pfd., 5.38%		421,132		7,563,531
Series A, Pfd., 6.60%^(b)		307,898		6,924,626
Series B, Pfd., 6.75%^(b)		275,945		6,261,192
Enstar Group Ltd., Series D, Pfd., 7.00%^(b)(c)		285,750		6,280,785


	Shares		Value
Insurance-(continued)
Hartford Financial Services Group, Inc. (The), Series G, Pfd., 6.00%^(b)		246,462	$	6,048,177
MetLife, Inc.
Series F, Pfd., 4.75%		709,884		13,956,319
Series E, Pfd., 5.63%^(b)		578,959		13,460,797
RenaissanceRe Holdings Ltd.
Series G, Pfd., 4.20% (Bermuda)^(b)		371,809		6,198,056
Series F, Pfd., 5.75% (Bermuda)		167,387		3,640,667

				190,843,682

Thrifts & Mortgage Finance-0.70%
New York Community Bancorp, Inc., Series A, Pfd., 6.38%^(c)		367,867		7,868,675

Trading Companies & Distributors-0.34%
Air Lease Corp., Series A, Pfd., 6.15%^(c)		178,581		3,839,491

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.74% (Cost $1,424,128,697)				1,122,118,494


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-5.85%
Invesco Private Government Fund, 3.18%^(d)(e)(f)		18,397,236		18,397,236
Invesco Private Prime Fund, 3.28%^(d)(e)(f)		47,482,622		47,482,622

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $65,878,084)				65,879,858

TOTAL INVESTMENTS IN SECURITIES-105.59% (Cost $1,490,006,781)				1,187,998,352
OTHER ASSETS LESS LIABILITIES-(5.59)%				(62,911,593	)

NET ASSETS-100.00%			$	1,125,086,759

Investment Abbreviations:

Pfd. -Preferred

Notes to Schedule of Investments:

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

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

^(c)	Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.

^(d)


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

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$ -		$41,521,241		$(41,521,241)		$ -		$ -		$ -		$ 21,607

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


		14

Invesco Financial Preferred ETF (PGF)–(continued)

October 31, 2022

(Unaudited)


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

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	7,543,720		$	93,141,198		$	(82,287,682	)		$	-			$	-		$	18,397,236		$	139,185	*

Invesco Private Prime Fund			17,575,099			231,304,868			(201,396,935	)			(793	)			383			47,482,622			378,586	*


Total		$	25,118,819		$	365,967,307		$	(325,205,858	)		$	(793	)		$	383		$	65,879,858		$	539,378

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

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

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

Portfolio Composition

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

as of October 31, 2022



Banks			57.90

Capital Markets			17.18

Insurance			16.96

Consumer Finance			5.00

Industry Types Each Less Than 3%			2.70

Money Market Funds Plus Other Assets Less Liabilities			0.26

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


		15