

		Invesco Semi-Annual Report to Shareholders
		October 31, 2023

		IGPT		Invesco AI and Next Gen Software ETF (formerly, Invesco Dynamic Software ETF)

		PBE		Invesco Biotechnology & Genome ETF (formerly, Invesco Dynamic Biotechnology & Genome ETF)

		PKB		Invesco Building & Construction ETF (formerly, Invesco Dynamic Building & Construction ETF)

		PXE		Invesco Energy Exploration & Production ETF (formerly, Invesco Dynamic Energy Exploration & Production ETF)

		PBJ		Invesco Food & Beverage ETF (formerly, Invesco Dynamic Food & Beverage ETF)

		PEJ		Invesco Leisure and Entertainment ETF (formerly, Invesco Dynamic Leisure and Entertainment ETF)

		KNCT		Invesco Next Gen Connectivity ETF (formerly, Invesco Dynamic Networking ETF)

		GGME		Invesco Next Gen Media and Gaming ETF (formerly, Invesco Dynamic Media ETF)

		PXJ		Invesco Oil & Gas Services ETF (formerly, Invesco Dynamic Oil & Gas Services ETF)

		PJP		Invesco Pharmaceuticals ETF (formerly, Invesco Dynamic Pharmaceuticals ETF)

		PSI		Invesco Semiconductors ETF (formerly, Invesco Dynamic Semiconductors ETF)

Table of Contents


Schedules of Investments

Invesco AI and Next Gen Software ETF (IGPT)			3

Invesco Biotechnology & Genome ETF (PBE)			6

Invesco Building & Construction ETF (PKB)			8

Invesco Energy Exploration & Production ETF (PXE)			10

Invesco Food & Beverage ETF (PBJ)			12

Invesco Leisure and Entertainment ETF (PEJ)			14

Invesco Next Gen Connectivity ETF (KNCT)			16

Invesco Next Gen Media and Gaming ETF (GGME)			19

Invesco Oil & Gas Services ETF (PXJ)			22

Invesco Pharmaceuticals ETF (PJP)			24

Invesco Semiconductors ETF (PSI)			26

Statements of Assets and Liabilities			28

Statements of Operations			30

Statements of Changes in Net Assets			32

Financial Highlights			36

Notes to Financial Statements			47

Fund Expenses			60

Invesco AI and Next Gen Software ETF (IGPT)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.03%
Advertising-1.39%
Magnite, Inc.^(b)(c)		9,081	$	60,298
Trade Desk, Inc. (The), Class A^(b)		29,518		2,094,597

				2,154,895

Alternative Carriers-0.12%
Cogent Communications Holdings, Inc.		2,923		189,937


Application Software-21.16%
Adobe, Inc.^(b)		23,809		12,667,817
Altair Engineering, Inc., Class A^(b)(c)		3,178		197,417
Alteryx, Inc., Class A^(b)(c)		4,193		134,218
Altium Ltd. (Australia)		6,196		154,880
ANSYS, Inc.^(b)		5,746		1,598,882
Autodesk, Inc.^(b)		14,141		2,794,686
Bentley Systems, Inc., Class B^(c)		15,516		754,698
Cadence Design Systems, Inc.^(b)		15,882		3,809,298
Dassault Systemes SE (France)		47,935		1,966,652
DoubleVerify Holdings, Inc.^(b)(c)		7,571		210,701
Elastic N.V.^(b)		4,753		356,665
Enghouse Systems Ltd. (Canada)		2,223		52,138
Five9, Inc.^(b)		4,781		276,676
HubSpot, Inc.^(b)		3,310		1,402,679
IRESS Ltd. (Australia)		7,148		22,583
MicroStrategy, Inc., Class A^(b)(c)		798		337,865
Nemetschek SE (Germany)		2,289		170,331
Nice Ltd. (Israel)^(b)		3,431		529,718
Pegasystems, Inc.^(c)		2,786		119,074
PTC, Inc.^(b)		5,264		739,171
Sinch AB^(b)(c)(d)		43,061		67,848
Splunk, Inc.^(b)		10,105		1,487,052
Synopsys, Inc.^(b)		5,116		2,401,655
Unity Software, Inc.^(b)(c)		17,362		440,474
Verint Systems, Inc.^(b)(c)		4,254		80,018

				32,773,196

Automotive Parts & Equipment-0.03%
Luminar Technologies, Inc.^(b)(c)		15,901		50,406


Consumer Electronics-0.41%
Garmin Ltd.		6,192		634,866


Data Center REITs-4.52%
Digital Realty Trust, Inc.		20,024		2,490,185
Equinix, Inc.		6,193		4,518,660

				7,008,845

Electrical Components & Equipment-1.59%
AMETEK, Inc.		10,999		1,548,329
Nidec Corp. (Japan)		25,757		921,977

				2,470,306

Electronic Components-0.29%
Largan Precision Co. Ltd. (Taiwan)		7,048		449,803


Electronic Equipment & Instruments-4.97%
Cognex Corp.		11,419		410,970
Halma PLC (United Kingdom)		17,871		400,099
Hexagon AB, Class B (Sweden)		133,776		1,085,999
Inficon Holding AG (Switzerland)		115		124,471
Jenoptik AG (Germany)		2,967		70,124
Keyence Corp. (Japan)		13,678		5,251,911



	Shares		Value

Electronic Equipment & Instruments-(continued)
Novanta, Inc.^(b)		1,610	$	212,617
Spectris PLC (United Kingdom)		3,602		135,496

				7,691,687


Electronic Manufacturing Services-0.13%
IPG Photonics Corp.^(b)		2,276		195,508


Health Care Equipment-3.94%
Intuitive Surgical, Inc.^(b)		23,256		6,098,188


Health Care Services-0.06%
RadNet, Inc.^(b)(c)		3,716		100,183


Industrial Machinery & Supplies & Components-1.59%
3D Systems Corp.^(b)(c)		8,844		32,988
ATS Corp. (Canada)^(b)		4,830		162,479
AutoStore Holdings Ltd. (Norway)^(b)(d)		64,994		71,675
Duerr AG (Germany)		2,884		59,047
Fortive Corp.^(c)		18,029		1,176,933
Harmonic Drive Systems, Inc. (Japan)		4,170		89,213
Hiwin Technologies Corp. (Taiwan)		16,958		102,213
MINEBEA MITSUMI, Inc. (Japan)		18,521		284,887
Yaskawa Electric Corp. (Japan)		14,979		482,370

				2,461,805


Interactive Home Entertainment-1.54%
Electronic Arts, Inc.		10,265		1,270,704
Take-Two Interactive Software, Inc.^(b)		7,555		1,010,481
Ubisoft Entertainment S.A. (France)^(b)		3,718		105,637

				2,386,822


Interactive Media & Services-18.04%
Alphabet, Inc., Class A^(b)		98,646		12,239,996
Baidu, Inc., A Shares (China)^(b)		83,263		1,092,849
Meta Platforms, Inc., Class A^(b)		44,674		13,458,936
Pinterest, Inc., Class A^(b)(c)		38,559		1,152,143

				27,943,924


Internet Services & Infrastructure-2.22%
GDS Holdings Ltd., A Shares (China)^(b)		43,488		53,800
NEXTDC Ltd. (Australia)^(b)		34,163		254,156
Snowflake, Inc., Class A^(b)		21,570		3,130,454

				3,438,410


IT Consulting & Other Services-0.02%
Addnode Group AB (Sweden)^(c)		4,818		29,949


Movies & Entertainment-0.27%
Roku, Inc., Class A^(b)(c)		7,138		425,211


Research & Consulting Services-0.09%
Clarivate PLC^(b)(c)		21,643		138,082


Semiconductors-34.26%
Advanced Micro Devices, Inc.^(b)		106,945		10,534,082
Alchip Technologies Ltd. (Taiwan)		4,447		359,901
Ambarella, Inc.^(b)		2,629		118,279
AP Memory Technology Corp. (Taiwan)		8,912		98,091
ASMedia Technology, Inc. (Taiwan)		1,778		72,085
Diodes, Inc.^(b)		3,034		197,453
Faraday Technology Corp. (Taiwan)		12,728		118,510
Global Unichip Corp. (Taiwan)		4,261		188,517
Intel Corp.		264,293		9,646,694
Lattice Semiconductor Corp.^(b)		8,897		494,762

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



		3
		3

Invesco AI and Next Gen Software ETF (IGPT)–(continued)

October 31, 2023

(Unaudited)



	Shares		Value
Semiconductors-(continued)
Macronix International Co. Ltd. (Taiwan)		81,503	$	67,846
Marvell Technology, Inc.		33,737		1,593,061
MaxLinear, Inc.^(b)		2,841		43,183
Microchip Technology, Inc.		25,872		1,844,415
Micron Technology, Inc.		72,461		4,845,467
Nanya Technology Corp. (Taiwan)		77,829		155,250
NVIDIA Corp.		28,855		11,767,069
QUALCOMM, Inc.		63,240		6,892,528
Renesas Electronics Corp. (Japan)^(b)		54,017		697,483
Sanken Electric Co. Ltd. (Japan)		1,660		80,213
Silicon Laboratories, Inc.^(b)(c)		2,116		195,053
SK hynix, Inc. (South Korea)		33,825		2,912,774
Winbond Electronics Corp. (Taiwan)		189,005		145,388
Winbond Electronics Corp., Rts., expiring 11/30/2023 (Taiwan)^(b)		7,598		691

				53,068,795

Systems Software-0.39%
Dolby Laboratories, Inc., Class A^(c)		3,946		319,389
Teradata Corp.^(b)		6,626		283,063

				602,452

Technology Hardware, Storage & Peripherals-3.00%
Hewlett Packard Enterprise Co.		51,583		793,346
NetApp, Inc.		9,706		706,403
Pure Storage, Inc., Class A^(b)(c)		12,349		417,520
Seagate Technology Holdings PLC^(c)		13,740		937,755
Super Micro Computer, Inc.^(b)		2,547		609,930
Western Digital Corp.^(b)		21,200		851,180
Wiwynn Corp. (Taiwan)		7,214		338,069

				4,654,203

Total Common Stocks & Other Equity Interests (Cost $160,135,413)				154,967,473



	Shares		Value
Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%^(e)(f) (Cost $83,253)		83,253	$	83,253

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.09% (Cost $160,218,666)				155,050,726


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-3.65%
Invesco Private Government Fund, 5.32%^(e)(f)(g)		1,581,715		1,581,715
Invesco Private Prime Fund, 5.53%^(e)(f)(g)		4,068,893		4,069,300

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $5,651,071)				5,651,015

TOTAL INVESTMENTS IN SECURITIES-103.74% (Cost $165,869,737)				160,701,741
OTHER ASSETS LESS LIABILITIES-(3.74)%				(5,786,179	)

NET ASSETS-100.00%.			$	154,915,562

Investment Abbreviations:

Rts.-Rights

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)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2023 was $139,523, which represented less than 1% of the Fund’s Net Assets.

^(e)

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 (Loss)		Value October 31, 2023		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class	$	154,502	$	18,438,104	$	(18,509,353)		$ -		$ -		$ 83,253	$	6,873

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



		4
		4

Invesco AI and Next Gen Software ETF (IGPT)–(continued)

October 31, 2023

(Unaudited)



	Value April 30, 2023			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain (Loss)				Value October 31, 2023			Dividend Income

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	5,666,175	$	55,212,884	$	(59,297,344	)		$	-		$	-			$	1,581,715	$	106,622	*

Invesco Private Prime Fund			14,570,164		118,222,383		(128,722,481	)			1,123			(1,889	)			4,069,300		282,565	*


Total		$	20,390,841	$	191,873,371	$	(206,529,178	)		$	1,123		$	(1,889	)		$	5,734,268	$	396,060

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

^(f)	The rate shown is the 7-day SEC standardized yield as of October 31, 2023.

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


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Semiconductors	34.26

Application Software	21.16

Interactive Media & Services	18.04

Electronic Equipment & Instruments	4.97

Data Center REITs	4.52

Health Care Equipment	3.94

Technology Hardware, Storage & Peripherals	3.00

Sub-Industry Types Each Less Than 3%	10.14

Money Market Funds Plus Other Assets Less Liabilities	(0.03	)

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



		5
		5

Invesco Biotechnology & Genome ETF (PBE)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.05%
Biotechnology-83.31%
Acadia Pharmaceuticals, Inc.^(b)		225,189	$	5,082,516
Alkermes PLC^(b)(c)		222,135		5,373,446
Amgen, Inc.		46,617		11,919,967
Amicus Therapeutics, Inc.^(b)		525,320		5,762,760
Arrowhead Pharmaceuticals, Inc.^(b)(c)		230,824		5,675,962
Biogen, Inc.^(b)		45,668		10,847,977
BioMarin Pharmaceutical, Inc.^(b)		132,659		10,805,076
Catalyst Pharmaceuticals, Inc.^(b)(c)		454,282		5,637,640
Dynavax Technologies Corp.^(b)(c)		438,177		6,226,495
Exelixis, Inc.^(b)		304,970		6,279,332
Gilead Sciences, Inc.^(c)		157,299		12,354,263
Halozyme Therapeutics, Inc.^(b)		153,414		5,196,132
Incyte Corp.^(b)		185,363		9,996,627
MannKind Corp.^(b)(c)		1,442,898		6,190,032
Myriad Genetics, Inc.^(b)		377,129		5,875,670
Neurocrine Biosciences, Inc.^(b)		61,170		6,786,200
PTC Therapeutics, Inc.^(b)(c)		166,263		3,117,431
Regeneron Pharmaceuticals, Inc.^(b)		14,288		11,143,068
United Therapeutics Corp.^(b)		51,978		11,583,817
Veracyte, Inc.^(b)(c)		252,050		5,222,476
Vericel Corp.^(b)(c)		200,266		7,045,358
Vertex Pharmaceuticals, Inc.^(b)		34,275		12,411,320
Xencor, Inc.^(b)(c)		285,312		4,950,163

				175,483,728

Health Care Services-4.48%
Fulgent Genetics, Inc.^(b)(c)		193,467		4,631,600
OPKO Health, Inc.^(b)(c)		3,853,383		4,816,729

				9,448,329

Life Sciences Tools & Services-7.09%
Pacific Biosciences of California, Inc.^(b)(c)		637,853		3,941,932
QIAGEN N.V.^(b)		148,072		5,542,335
Repligen Corp.^(b)(c)		40,484		5,447,527

				14,931,794



	Shares		Value
Pharmaceuticals-5.17%
Catalent, Inc.^(b)(c)		147,507	$	5,072,766
Intra-Cellular Therapies, Inc.^(b)		116,728		5,808,385

				10,881,151

Total Common Stocks & Other Equity Interests (Cost $220,233,567)				210,745,002


Money Market Funds-0.07%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%^(d)(e) (Cost $149,552)		149,552		149,552

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.12% (Cost $220,383,119)				210,894,554


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-26.63%
Invesco Private Government Fund, 5.32%^(d)(e)(f)		15,706,345		15,706,345
Invesco Private Prime Fund, 5.53%^(d)(e)(f)		40,394,421		40,398,460

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $56,103,638)				56,104,805

TOTAL INVESTMENTS IN SECURITIES-126.75% (Cost $276,486,757)				266,999,359
OTHER ASSETS LESS LIABILITIES-(26.75)%				(56,349,095	)

NET ASSETS-100.00%.			$	210,650,264

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)



	Value April 30, 2023		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation		Realized Gain (Loss)		Value October 31, 2023		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$ 294,606		$ 1,647,557		$ (1,792,611)		$ -		$ -		$ 149,552	$	5,086

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



		6
		6

Invesco Biotechnology & Genome ETF (PBE)–(continued)

October 31, 2023

(Unaudited)



	Value April 30, 2023			Purchases at Cost			Proceeds from Sales				Change in Unrealized Appreciation			Realized Gain (Loss)				Value October 31, 2023			Dividend Income

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	10,396,545		$	83,642,792		$	(78,332,992	)		$	-		$	-			$	15,706,345		$	351,325	*

Invesco Private Prime Fund			26,733,973			172,490,200			(158,829,204	)			6,254			(2,763	)			40,398,460			944,072	*


Total		$	37,425,124		$	257,780,549		$	(238,954,807	)		$	6,254		$	(2,763	)		$	56,254,357		$	1,300,483

*	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 2J.


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Biotechnology	83.31

Life Sciences Tools & Services	7.09

Pharmaceuticals	5.17

Health Care Services	4.48

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.



		7
		7

Invesco Building & Construction ETF (PKB)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-100.05%
Building Products-16.80%
American Woodmark Corp.^(b)(c)		80,834	$	5,434,470
Gibraltar Industries, Inc.^(b)		82,332		5,010,726
Griffon Corp.		145,248		5,801,205
Lennox International, Inc.^(c)		30,762		11,398,551
Owens Corning		43,277		4,906,314

				32,551,266

Construction & Engineering-8.83%
Comfort Systems USA, Inc.		32,949		5,991,775
EMCOR Group, Inc.^(c)		27,083		5,596,702
Sterling Infrastructure, Inc.^(b)(c)		75,749		5,518,315

				17,106,792

Construction Materials-15.89%
Eagle Materials, Inc.^(c)		32,986		5,076,875
Martin Marietta Materials, Inc.		24,716		10,107,361
United States Lime & Minerals, Inc.^(c)		28,891		5,720,129
Vulcan Materials Co.		50,259		9,875,391

				30,779,756

Forest Products-2.61%
Louisiana-Pacific Corp.		98,761		5,064,464


Home Improvement Retail-4.88%
Home Depot, Inc. (The)		33,237		9,462,242


Homebuilding-48.33%
Beazer Homes USA, Inc.^(b)(c)		208,240		5,037,326
D.R. Horton, Inc.		92,009		9,605,739
Dream Finders Homes, Inc., Class A^(b)(c)		221,979		4,370,766
Green Brick Partners, Inc.^(b)(c)		122,617		4,745,278
KB Home		119,814		5,295,779
Lennar Corp., Class A		92,478		9,865,553
M.D.C. Holdings, Inc.		126,945		4,817,563
M/I Homes, Inc.^(b)		63,416		5,204,551
Meritage Homes Corp.		43,421		4,950,862
NVR, Inc.^(b)		1,769		9,574,925
PulteGroup, Inc.		136,764		10,064,463



	Shares		Value
Homebuilding-(continued)
Taylor Morrison Home Corp., Class A^(b)(c)		128,621	$	4,928,757
Toll Brothers, Inc.^(c)		77,419		5,474,297
TopBuild Corp.^(b)		20,664		4,727,097
Tri Pointe Homes, Inc.^(b)		198,604		4,977,016

				93,639,972

Specialized Consumer Services-2.71%
Frontdoor, Inc.^(b)		181,211		5,242,434

Total Common Stocks & Other Equity Interests (Cost $190,888,515)				193,846,926


Money Market Funds-0.06%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%^(d)(e) (Cost $111,483)		111,483		111,483

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.11% (Cost $190,999,998)				193,958,409


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-6.31%
Invesco Private Government Fund, 5.32%^(d)(e)(f)		3,424,000		3,424,000
Invesco Private Prime Fund, 5.53%^(d)(e)(f)		8,805,077		8,805,958

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $12,229,934)				12,229,958

TOTAL INVESTMENTS IN SECURITIES-106.42% (Cost $203,229,932)				206,188,367
OTHER ASSETS LESS LIABILITIES-(6.42)%				(12,443,631	)

NET ASSETS-100.00%.			$	193,744,736

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)



	Value April 30, 2023		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation		Realized Gain (Loss)		Value October 31, 2023		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$ 152,257		$ 1,707,328		$ (1,748,102)		$ -		$ -		$ 111,483	$	4,136

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



		8
		8

Invesco Building & Construction ETF (PKB)–(continued)

October 31, 2023

(Unaudited)



	Value April 30, 2023			Purchases at Cost			Proceeds from Sales				Change in Unrealized Appreciation			Realized Gain (Loss)				Value October 31, 2023			Dividend Income

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	3,829,706		$	55,054,562		$	(55,460,268	)		$	-		$	-			$	3,424,000		$	120,738	*

Invesco Private Prime Fund			9,847,815			125,202,452			(126,244,311	)			137			(135	)			8,805,958			325,016	*


Total		$	13,829,778		$	181,964,342		$	(183,452,681	)		$	137		$	(135	)		$	12,341,441		$	449,890

*	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 2J.


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Homebuilding	48.33

Building Products	16.80

Construction Materials	15.89

Construction & Engineering	8.83

Home Improvement Retail	4.88

Sub-Industry Types Each Less Than 3%	5.32

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.



		9
		9

Invesco Energy Exploration & Production ETF (PXE)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.99%
Gas Utilities-2.62%
National Fuel Gas Co.		86,706	$	4,417,671


Oil & Gas Exploration & Production-71.77%
APA Corp.		107,314		4,262,512
California Resources Corp.^(b)		82,943		4,361,972
Callon Petroleum Co.^(b)(c)		125,212		4,676,668
Chesapeake Energy Corp.^(b)		53,114		4,572,053
Chord Energy Corp.^(b)		29,024		4,798,248
Civitas Resources, Inc.^(b)		57,965		4,372,300
CNX Resources Corp.^(b)(c)		208,020		4,518,195
Comstock Resources, Inc.^(b)		386,197		4,866,082
Coterra Energy, Inc.^(b)		300,462		8,262,705
Diamondback Energy, Inc.		56,525		9,062,088
EOG Resources, Inc.		64,867		8,189,459
EQT Corp.^(b)		193,163		8,186,248
Gulfport Energy Corp.^(c)		41,217		5,094,833
Magnolia Oil & Gas Corp., Class A^(b)		203,685		4,572,728
Murphy Oil Corp.		102,092		4,580,868
Ovintiv, Inc.		95,966		4,606,368
Permian Resources Corp.^(b)		340,469		4,960,633
Pioneer Natural Resources Co.		35,656		8,521,784
Range Resources Corp.^(b)		144,143		5,166,085
SM Energy Co.^(b)		113,519		4,577,086
Southwestern Energy Co.^(c)		693,841		4,947,086
Vital Energy, Inc.^(b)(c)		78,960		3,951,159

				121,107,160


Oil & Gas Refining & Marketing-25.60%
CVR Energy, Inc.^(b)		131,849		4,318,055
HF Sinclair Corp.^(b)		80,845		4,477,196
Marathon Petroleum Corp.		58,648		8,870,510
Par Pacific Holdings, Inc.^(b)(c)		129,602		4,253,538
PBF Energy, Inc., Class A^(b)		98,617		4,687,266



	Shares		Value
Oil & Gas Refining & Marketing-(continued)
Phillips 66		74,218	$	8,466,047
Valero Energy Corp.^(b)		64,057		8,135,239

				43,207,851

Total Common Stocks & Other Equity Interests (Cost $158,855,107)				168,732,682


Money Market Funds-0.10%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%^(d)(e) (Cost $163,043)		163,043		163,043

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.09% (Cost $159,018,150)				168,895,725


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-28.53%
Invesco Private Government Fund, 5.32%^(d)(e)(f)		13,479,602		13,479,602
Invesco Private Prime Fund, 5.53%^(d)(e)(f)		34,665,968		34,669,435

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $48,148,295)				48,149,037

TOTAL INVESTMENTS IN SECURITIES-128.62% (Cost $207,166,445)				217,044,762
OTHER ASSETS LESS LIABILITIES-(28.62)%				(48,297,273	)

NET ASSETS-100.00%.			$	168,747,489

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)



	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	$	108,993	$	2,600,536	$	(2,546,486)	$	-	$	-	$	163,043	$	2,472

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



		10
		10

Invesco Energy Exploration & Production ETF (PXE)–(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		$	5,820,927	$	84,552,443	$	(76,893,768	)		$	-		$	-		$	13,479,602	$	311,845	*

Invesco Private Prime Fund			14,968,098		154,068,932		(134,374,635	)			782			6,258			34,669,435		820,842	*


Total		$	20,898,018	$	241,221,911	$	(213,814,889	)		$	782		$	6,258		$	48,312,080	$	1,135,159

*	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 2J.


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Oil & Gas Exploration & Production			71.77

Oil & Gas Refining & Marketing			25.60

Gas Utilities			2.62

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.



		11
		11

Invesco Food & Beverage ETF (PBJ)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.98%
Agricultural Products & Services-10.30%
Archer-Daniels-Midland Co.		121,402	$	8,688,741
Bunge Ltd.		48,050		5,092,339
Fresh Del Monte Produce, Inc.		207,612		5,190,300

				18,971,380


Brewers-2.68%
Molson Coors Beverage Co., Class B		85,625		4,946,556


Distillers & Vintners-4.84%
Constellation Brands, Inc., Class A		38,127		8,927,437


Food Distributors-8.44%
Andersons, Inc. (The)		105,468		5,287,111
Performance Food Group Co.^(b)(c)		87,725		5,066,996
US Foods Holding Corp.^(b)		133,320		5,191,481

				15,545,588


Food Retail-8.81%
Kroger Co. (The)		113,773		5,161,881
Sprouts Farmers Market, Inc.^(b)(c)		138,247		5,809,139
Weis Markets, Inc.^(c)		80,756		5,257,216

				16,228,236


Packaged Foods & Meats-31.01%
Adecoagro S.A. (Brazil)		484,560		5,112,108
B&G Foods, Inc.^(c)		440,994		3,558,822
Cal-Maine Foods, Inc.		112,934		5,117,039
Dole PLC^(c)		449,523		5,133,553
John B. Sanfilippo & Son, Inc.		52,500		5,368,650
Kraft Heinz Co. (The)		294,513		9,265,379
Lamb Weston Holdings, Inc.		55,585		4,991,533
Mondelez International, Inc., Class A		139,700		9,249,537
Nomad Foods Ltd. (United Kingdom)^(b)(c)		293,295		4,053,337
Seaboard Corp.		1,509		5,291,987

				57,141,945


Personal Care Products-3.16%
BellRing Brands, Inc.^(b)		133,167		5,823,393


Restaurants-10.45%
Arcos Dorados Holdings, Inc., Class A (Brazil)^(c)		536,037		4,835,053



	Shares		Value
Restaurants-(continued)
Chipotle Mexican Grill, Inc.^(b)		5,240	$	10,177,128
Dutch Bros, Inc., Class A^(b)(c)		174,764		4,253,756

				19,265,937


Soft Drinks & Non-alcoholic Beverages-20.29%
Coca-Cola Co. (The)		163,311		9,225,438
Coca-Cola Consolidated, Inc.		7,772		4,946,178
Monster Beverage Corp.^(b)		170,986		8,737,385
PepsiCo, Inc.		55,814		9,113,310
Vita Coco Co., Inc. (The)^(b)(c)		197,706		5,357,833

				37,380,144

Total Common Stocks & Other Equity Interests (Cost $195,340,968)				184,230,616


Money Market Funds-0.13%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%^(d)(e) (Cost $241,490)		241,490		241,490

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.11% (Cost $195,582,458)				184,472,106


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-7.76%
Invesco Private Government Fund, 5.32%^(d)(e)(f)		4,003,938		4,003,938
Invesco Private Prime Fund, 5.53%^(d)(e)(f)		10,298,795		10,299,825

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $14,304,000)				14,303,763

TOTAL INVESTMENTS IN SECURITIES-107.87% (Cost $209,886,458)				198,775,869
OTHER ASSETS LESS LIABILITIES-(7.87)%				(14,508,518	)

NET ASSETS-100.00%.			$	184,267,351

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)



	Value April 30, 2023		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation (Depreciation)		Realized Gain (Loss)		Value October 31, 2023		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$ -		$ 3,392,666		$ (3,151,176)		$ -		$ -		$ 241,490	$	3,134

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



		12
		12

Invesco Food & Beverage ETF (PBJ)–(continued)

October 31, 2023

(Unaudited)



	Value April 30, 2023			Purchases at Cost			Proceeds from Sales				Change in Unrealized Appreciation (Depreciation)				Realized Gain (Loss)				Value October 31, 2023			Dividend Income

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	8,310,046		$	65,124,134		$	(69,430,242	)		$	-			$	-			$	4,003,938		$	198,801	*

Invesco Private Prime Fund			21,368,689			139,233,113			(150,300,346	)			(237	)			(1,394	)			10,299,825			541,188	*


Total		$	29,678,735		$	207,749,913		$	(222,881,764	)		$	(237	)		$	(1,394	)		$	14,545,253		$	743,123

*	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 2J.


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Packaged Foods & Meats			31.01

Soft Drinks & Non-alcoholic Beverages			20.29

Restaurants			10.45

Agricultural Products & Services			10.30

Food Retail			8.81

Food Distributors			8.44

Distillers & Vintners			4.84

Personal Care Products			3.16

Brewers			2.68

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.



		13
		13

Invesco Leisure and Entertainment ETF (PEJ)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.99%
Broadcasting-2.84%
Fox Corp., Class A^(b)		267,616	$	8,132,850

Casinos & Gaming-12.93%
Accel Entertainment, Inc.^(b)(c)		804,466		7,923,990
Caesars Entertainment, Inc.^(b)(c)		169,952		6,779,385
Las Vegas Sands Corp.		301,056		14,288,118
Wynn Resorts Ltd.		92,302		8,102,270

				37,093,763

Food Distributors-2.98%
US Foods Holding Corp.^(c)		219,099		8,531,715

Hotels, Resorts & Cruise Lines-25.87%
Airbnb, Inc., Class A^(c)		126,600		14,975,514
Booking Holdings, Inc.^(c)		5,224		14,572,661
MakeMyTrip Ltd. (India)^(b)(c)		235,590		9,124,401
Marriott International, Inc., Class A		78,913		14,879,835
Norwegian Cruise Line Holdings Ltd.^(b)(c)		509,491		6,929,078
Royal Caribbean Cruises Ltd.^(c)		161,879		13,716,008

				74,197,497

Interactive Media & Services-5.46%
Eventbrite, Inc., Class A^(b)(c)		863,714		7,151,552
TripAdvisor, Inc.^(b)(c)		576,003		8,501,804

				15,653,356

Movies & Entertainment-19.22%
Cinemark Holdings, Inc.^(b)(c)		509,717		8,405,234
Liberty Media Corp.-Liberty Formula One^(c)		133,219		8,617,937
Lions Gate Entertainment Corp., Class A^(b)(c)		1,234,227		9,701,024
Live Nation Entertainment, Inc.^(b)(c)		104,366		8,351,367
Sphere Entertainment Co.^(b)(c)		222,120		7,309,969
Warner Bros Discovery, Inc.^(b)(c)		1,283,110		12,754,114

				55,139,645

Passenger Airlines-14.45%
American Airlines Group, Inc.^(b)(c)		592,961		6,611,515
Copa Holdings S.A., Class A (Panama)^(b)		89,789		7,331,272
Delta Air Lines, Inc.		386,630		12,082,187
SkyWest, Inc.^(b)(c)		218,006		9,193,313
United Airlines Holdings, Inc.^(b)(c)		177,869		6,227,194

				41,445,481



	Shares		Value
Restaurants-16.24%
Arcos Dorados Holdings, Inc., Class A (Brazil)		879,561	$	7,933,640
Chipotle Mexican Grill, Inc.^(c)		8,579		16,662,134
Dutch Bros, Inc., Class A^(b)(c)		287,230		6,991,178
First Watch Restaurant Group, Inc.^(b)(c)		480,722		8,032,865
Shake Shack, Inc., Class A^(b)(c)		124,438		6,973,505

				46,593,322

Total Common Stocks & Other Equity Interests (Cost $320,277,016)				286,787,629


Money Market Funds-0.15%
Invesco Government & Agency Portfolio, Institutional Class, 5.27%(d)(e) (Cost $440,194)		440,194		440,194

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-100.14% (Cost $320,717,210)				287,227,823


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-21.67%
Invesco Private Government Fund, 5.32%^(d)(e)(f)		17,396,824		17,396,824
Invesco Private Prime Fund, 5.53%^(d)(e)(f)		44,745,629		44,750,104

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $62,148,183)				62,146,928

TOTAL INVESTMENTS IN SECURITIES-121.81% (Cost $382,865,393)				349,374,751
OTHER ASSETS LESS LIABILITIES-(21.81)%				(62,549,614	)

NET ASSETS-100.00%.			$	286,825,137

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)



	Value April 30, 2023		Purchases at Cost		Proceeds from Sales		Change in Unrealized Appreciation		Realized Gain (Loss)		Value October 31, 2023		Dividend Income

Investments in Affiliated Money Market Funds:

Invesco Government & Agency Portfolio, Institutional Class		$ 392,263		$ 2,282,077		$ (2,234,146)		$ -		$ -		$ 440,194	$	8,253

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



		14
		14

Invesco Leisure and Entertainment ETF (PEJ)–(continued)

October 31, 2023

(Unaudited)



	Value April 30, 2023			Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation			Realized Gain (Loss)				Value October 31, 2023			Dividend Income

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund		$	29,897,937	$	177,445,385	$	(189,946,498	)		$	-		$	-			$	17,396,824	$	570,982	*

Invesco Private Prime Fund			76,880,409		397,406,960		(429,539,354	)			6,345			(4,256	)			44,750,104		1,521,135	*


Total		$	107,170,609	$	577,134,422	$	(621,719,998	)		$	6,345		$	(4,256	)		$	62,587,122	$	2,100,370

*	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 2J.


Portfolio Composition Sub-Industry Breakdown (% of the Fund’s Net Assets) as of October 31, 2023

Hotels, Resorts & Cruise Lines			25.87

Movies & Entertainment			19.22

Restaurants			16.24

Passenger Airlines			14.45

Casinos & Gaming			12.93

Interactive Media & Services			5.46

Sub-Industry Types Each Less Than 3%			5.82

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.



		15
		15

Invesco Next Gen Connectivity ETF (KNCT)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.93%
Alternative Carriers-0.20%
Iridium Communications, Inc.		1,088	$	40,310
Liberty Global PLC, Class C (United Kingdom)^(b)(c)		1,809		30,681

				70,991

Application Software-3.09%
Confluent, Inc., Class A^(b)(c)		2,047		59,179
Datadog, Inc., Class A^(b)		2,888		235,285
Dynatrace, Inc.^(b)(c)		2,333		104,308
Nutanix, Inc., Class A^(b)(c)		2,277		82,405
Synopsys, Inc.^(b)		1,327		622,947

				1,104,124

Cable & Satellite-4.39%
Charter Communications, Inc., Class A^(b)		951		383,063
Comcast Corp., Class A		26,257		1,084,151
Liberty Broadband Corp., Class C^(b)		1,209		100,722

				1,567,936

Communications Equipment-8.89%
Accton Technology Corp. (Taiwan)		4,974		76,446
Arista Networks, Inc.^(b)		2,534		507,738
Ciena Corp.^(b)(c)		1,444		60,937
Cisco Systems, Inc.		31,936		1,664,824
F5, Inc.^(b)		573		86,861
Juniper Networks, Inc.		3,104		83,560
Motorola Solutions, Inc.		1,409		392,350
Nokia OYJ (Finland)^(c)		51,257		170,121
Telefonaktiebolaget LM Ericsson, Class B (Sweden)^(c)		29,769		133,249

				3,176,086

Data Center REITs-2.85%
Digital Realty Trust, Inc.^(c)		2,906		361,390
Equinix, Inc.		900		656,676

				1,018,066

Data Processing & Outsourced Services-0.08%
Genpact Ltd		845		28,341


Electronic Components-1.28%
Amphenol Corp., Class A		3,860		310,923
Coherent Corp.^(b)		1,229		36,379
Hamamatsu Photonics K.K. (Japan)		1,195		43,848
Largan Precision Co. Ltd. (Taiwan)		1,028		65,607

				456,757

Electronic Equipment & Instruments-0.41%
Keysight Technologies, Inc.^(b)		1,205		147,070


Integrated Telecommunication Services-12.55%
AT&T, Inc.		68,568		1,055,947
BCE, Inc. (Canada)		3,620		134,239
BT Group PLC (United Kingdom)		38,243		52,323
Cellnex Telecom S.A. (Spain)^(d)		4,375		128,188
China Tower Corp. Ltd., H Shares (China)^(d)		404,487		37,737
Chunghwa Telecom Co. Ltd. (Taiwan)		20,073		71,789
Deutsche Telekom AG (Germany)		22,077		477,792
Elisa OYJ (Finland)		1,454		61,598
Emirates Telecommunications Group Co. PJSC (United Arab Emirates)		27,910		140,272



	Shares		Value
Integrated Telecommunication Services-(continued)
HKT Trust & HKT Ltd. (Hong Kong)		26,918	$	27,865
Nippon Telegraph & Telephone Corp. (Japan)		67,037		78,260
Orange S.A. (France)^(c)		13,536		158,957
PT Telkom Indonesia (Persero) Tbk (Indonesia)		431,263		94,750
Spark New Zealand Ltd. (New Zealand)		14,490		41,888
Telefonica S.A. (Spain)		53,753		207,155
Telenor ASA (Norway)		5,946		60,755
Telia Co. AB (Sweden)^(c)		18,527		39,151
Telstra Group Ltd. (Australia)		35,074		84,609
TELUS Corp. (Canada)		6,434		103,630
Verizon Communications, Inc.		40,645		1,427,859

				4,484,764

Internet Services & Infrastructure-1.81%
Akamai Technologies, Inc.^(b)		1,468		151,689
Cloudflare, Inc., Class A^(b)(c)		2,826		160,206
MongoDB, Inc.^(b)		682		235,010
Okta, Inc.^(b)		1,498		100,980

				647,885

IT Consulting & Other Services-4.35%
Accenture PLC, Class A		4,021		1,194,599
DXC Technology Co.^(b)		1,982		39,977
Fujitsu Ltd. (Japan)		1,321		169,350
NEC Corp. (Japan)		1,441		68,556
Otsuka Corp. (Japan)		1,221		48,559
TIS, Inc. (Japan)		1,562		33,056

				1,554,097

Research & Consulting Services-0.42%
Booz Allen Hamilton Holding Corp.		690		82,751
CACI International, Inc., Class A^(b)		209		67,875

				150,626

Security & Alarm Services-0.27%
SECOM Co. Ltd. (Japan)		1,385		95,568


Semiconductors-28.74%
Broadcom, Inc.		3,477		2,925,443
Intel Corp.		39,177		1,429,961
Lattice Semiconductor Corp.^(b)		1,331		74,017
Marvell Technology, Inc.		8,263		390,179
Microchip Technology, Inc.		3,776		269,191
Micron Technology, Inc.		8,963		599,356
QUALCOMM, Inc.		10,791		1,176,111
Rambus, Inc.^(b)(c)		1,054		57,264
Silicon Laboratories, Inc.^(b)(c)		308		28,391
SK hynix, Inc. (South Korea)		3,283		282,709
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)		176,033		2,871,018
United Microelectronics Corp. (Taiwan)		115,076		163,913

				10,267,553

Systems Software-6.25%
Check Point Software Technologies Ltd. (Israel)^(b)		876		117,603
CrowdStrike Holdings, Inc., Class A^(b)		2,165		382,707
CyberArk Software Ltd.^(b)		403		65,947
Fortinet, Inc.^(b)		6,302		360,285
Palo Alto Networks, Inc.^(b)(c)		2,959		719,096

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



		16
		16

Invesco Next Gen Connectivity ETF (KNCT)–(continued)

October 31, 2023

(Unaudited)



	Shares		Value
Systems Software-(continued)
Qualys, Inc.^(b)(c)		355	$	54,297
Tenable Holdings, Inc.^(b)(c)		1,117		47,037
Trend Micro, Inc. (Japan)		1,004		37,404
VMware, Inc., Class A^(b)(c)		2,116		308,195
Zscaler, Inc.^(b)		889		141,076

				2,233,647

Technology Hardware, Storage & Peripherals-15.00%
Apple, Inc.		16,782		2,865,862
Lite-On Technology Corp. (Taiwan)		12,046		37,139
NetApp, Inc.		2,036		148,180
Samsung Electronics Co. Ltd. (South Korea)		42,570		2,108,721
Xiaomi Corp., B Shares (China)^(b)(d)		112,099		200,857

				5,360,759

Telecom Tower REITs-3.63%
American Tower Corp.^(c)		4,485		799,182
Crown Castle, Inc.		3,002		279,126
SBA Communications Corp., Class A		1,047		218,436

				1,296,744

Wireless Telecommunication Services-5.72%
America Movil S.A.B. de C.V., Class B (Mexico)^(b)		235,164		193,962
KDDI Corp. (Japan)		12,273		363,623
MTN Group Ltd. (South Africa)		8,758		42,503
Rogers Communications, Inc., Class B (Canada)		1,607		59,476
SoftBank Corp. (Japan)		16,291		183,408
SoftBank Group Corp. (Japan)		5,976		241,652



	Shares		Value
Wireless Telecommunication Services-(continued)
Tele2 AB, Class B (Sweden)		4,139	$	29,318
T-Mobile US, Inc.^(b)		5,064		728,507
Vodacom Group Ltd. (South Africa)		3,417		18,493
Vodafone Group PLC (United Kingdom)		200,242		183,939

				2,044,881

TOTAL INVESTMENTS IN SECURITIES (excluding investments purchased with cash collateral from securities on loan)-99.93% (Cost $34,985,423)				35,705,895


Investments Purchased with Cash Collateral from Securities on Loan

Money Market Funds-6.52%
Invesco Private Government Fund, 5.32%^(e)(f)(g)		651,686		651,686
Invesco Private Prime Fund, 5.53%^(e)(f)(g)		1,676,029		1,676,197

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $2,327,879)				2,327,883

TOTAL INVESTMENTS IN SECURITIES-106.45% (Cost $37,313,302)				38,033,778
OTHER ASSETS LESS LIABILITIES-(6.45)%				(2,304,192	)

NET ASSETS-100.00%			$	35,729,586

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)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at October 31, 2023 was $366,782, which represented 1.03% of the Fund’s Net Assets.

^(e)



	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		$	94,897		$	4,949,871		$	(5,044,768	)		$	-		$	-		$	-		$	3,357

Investments Purchased with Cash Collateral from Securities on Loan:

Invesco Private Government Fund			2,545,282			13,276,076			(15,169,672	)			-			-			651,686			38,386	*

Invesco Private Prime Fund			6,478,220			26,602,930			(31,405,457	)			4			500			1,676,197			98,102	*


Total		$	9,118,399		$	44,828,877		$	(51,619,897	)		$	4		$	500		$	2,327,883		$	139,845

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

^(f)	The rate shown is the 7-day SEC standardized yield as of October 31, 2023.

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

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



		17
		17

Invesco Next Gen Connectivity ETF (KNCT)–(continued)

October 31, 2023

(Unaudited)

Portfolio Composition

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

as of October 31, 2023



Semiconductors			28.74

Technology Hardware, Storage & Peripherals			15.00

Integrated Telecommunication Services			12.55

Communications Equipment			8.89

Systems Software			6.25

Wireless Telecommunication Services			5.72

Cable & Satellite			4.39

IT Consulting & Other Services			4.35

Telecom Tower REITs			3.63

Application Software			3.09

Sub-Industry Types Each Less Than 3%			7.32

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.



		18
		18

Invesco Next Gen Media and Gaming ETF (GGME)

October 31, 2023

(Unaudited)

Schedule of Investments^(a)



	Shares		Value
Common Stocks & Other Equity Interests-99.82%
Advertising-2.00%
Magnite, Inc.^(b)		2,480	$	16,467
Trade Desk, Inc. (The), Class A^(b)		8,079		573,286

				589,753

Application Software-17.71%
Adobe, Inc.^(b)		4,607		2,451,200
Altair Engineering, Inc., Class A^(b)(c)		867		53,858
ANSYS, Inc.^(b)		1,572		437,425
AppLovin Corp., Class A^(b)(c)		1,501		54,696
Autodesk, Inc.^(b)		3,816		754,156
Bentley Systems, Inc., Class B^(c)		4,238		206,136
Dassault Systemes SE (France)		13,124		538,445
DoubleVerify Holdings, Inc.^(b)(c)		2,068		57,552
Iflytek Co. Ltd., A Shares (China)		1,500		9,339
Matterport, Inc.^(b)(c)		4,600		9,384
Nemetschek SE (Germany)		627		46,658
PTC, Inc.^(b)		1,440		202,205
Unity Software, Inc.^(b)(c)		4,744		120,355
Zoom Video Communications, Inc., Class A^(b)		4,543		272,489

				5,213,898

Broadcasting-0.01%
Viaplay Group AB, Class B (Sweden)^(b)(c)		1,375		2,931

Casinos & Gaming-3.25% </