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Invesco Semi-Annual Report to Shareholders

  

 

October 31, 2023

 

   RPG    Invesco S&P 500® Pure Growth ETF
   RPV    Invesco S&P 500® Pure Value ETF
   XLG    Invesco S&P 500® Top 50 ETF
   RFG    Invesco S&P MidCap 400® Pure Growth ETF
   RFV    Invesco S&P MidCap 400® Pure Value ETF
   RZG    Invesco S&P SmallCap 600® Pure Growth ETF
   RZV    Invesco S&P SmallCap 600® Pure Value ETF


 

Table of Contents

 

Schedules of Investments   

Invesco S&P 500® Pure Growth ETF (RPG)

     3  

Invesco S&P 500® Pure Value ETF (RPV)

     6  

Invesco S&P 500® Top 50 ETF (XLG)

     9  

Invesco S&P MidCap 400® Pure Growth ETF (RFG)

     11  

Invesco S&P MidCap 400® Pure Value ETF (RFV)

     14  

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)

     16  

Invesco S&P SmallCap 600® Pure Value ETF (RZV)

     19  
Statements of Assets and Liabilities      22  
Statements of Operations      24  
Statements of Changes in Net Assets      26  
Financial Highlights      30  
Notes to Financial Statements      37  
Fund Expenses      47  

 

    2    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value          

Common Stocks & Other Equity Interests-99.94%

 

Consumer Discretionary-6.05%

     

AutoZone, Inc.(b)

     10,781      $ 26,705,939  

lululemon athletica, inc.(b)

     47,100        18,532,908  

O’Reilly Automotive, Inc., Class R(b)

     30,946        28,793,396  

Tractor Supply Co.(c)

     83,158        16,012,904  

Ulta Beauty, Inc.(b)

     29,354        11,192,974  
     

 

 

 
        101,238,121  
     

 

 

 

Consumer Staples-3.74%

     

Dollar General Corp.

     71,291        8,486,480  

Dollar Tree, Inc.(b)(c)

     104,663        11,627,013  

Hershey Co. (The)

     60,499        11,334,488  

Kenvue, Inc.

     664,507        12,359,830  

Monster Beverage Corp.(b)

     366,543        18,730,347  
     

 

 

 
        62,538,158  
     

 

 

 

Energy-29.56%

     

APA Corp.

     908,103        36,069,851  

Chevron Corp.

     129,588        18,884,859  

ConocoPhillips

     287,629        34,170,325  

Coterra Energy, Inc.

     1,572,373        43,240,258  

Devon Energy Corp.

     389,087        18,119,782  

Diamondback Energy, Inc.

     293,697        47,085,503  

EOG Resources, Inc.

     211,026        26,642,033  

EQT Corp.

     954,737        40,461,754  

Exxon Mobil Corp.

     214,582        22,713,505  

Hess Corp.

     181,758        26,245,855  

Marathon Oil Corp.

     1,039,542        28,389,892  

Occidental Petroleum Corp.(c)

     425,036        26,271,475  

ONEOK, Inc.

     416,251        27,139,565  

Pioneer Natural Resources Co.

     148,065        35,387,535  

Targa Resources Corp.

     549,660        45,957,073  

Williams Cos., Inc. (The)

     525,416        18,074,310  
     

 

 

 
        494,853,575  
     

 

 

 

Financials-6.71%

     

Ameriprise Financial, Inc.

     37,034        11,649,785  

Arch Capital Group Ltd.(b)

     310,903        26,949,072  

Blackstone, Inc., Class A

     150,056        13,857,672  

Jack Henry & Associates, Inc.

     79,126        11,155,975  

Progressive Corp. (The)

     109,286        17,277,024  

Raymond James Financial, Inc.

     158,012        15,080,665  

W.R. Berkley Corp.

     242,800        16,369,576  
     

 

 

 
        112,339,769  
     

 

 

 

Health Care-19.33%

     

AbbVie, Inc.

     122,164        17,247,114  

Amgen, Inc.

     46,179        11,807,970  

Bristol-Myers Squibb Co.

     235,476        12,134,078  

Danaher Corp.

     72,640        13,948,333  

DexCom, Inc.(b)

     98,568        8,755,795  

Elevance Health, Inc.

     43,362        19,516,803  

Eli Lilly and Co.

     47,708        26,426,892  

Gilead Sciences, Inc.

     140,077        11,001,648  

Hologic, Inc.(b)

     212,465        14,058,809  

Incyte Corp.(b)

     253,882        13,691,856  

Insulet Corp.(b)

     58,096        7,701,787  

Merck & Co., Inc.

     136,972        14,067,024  

Moderna, Inc.(b)

     122,862        9,332,598  
         Shares                Value          

Health Care-(continued)

     

Molina Healthcare, Inc.(b)

     78,694      $ 26,201,167  

Pfizer, Inc.

     440,541        13,462,933  

Regeneron Pharmaceuticals, Inc.(b)

     46,403        36,189,236  

Thermo Fisher Scientific, Inc.

     24,887        11,068,991  

UnitedHealth Group, Inc.

     27,498        14,726,829  

Vertex Pharmaceuticals, Inc.(b)

     116,793        42,291,913  
     

 

 

 
        323,631,776  
     

 

 

 

Industrials-8.08%

     

Axon Enterprise, Inc.(b)

     118,738        24,280,734  

Deere & Co.

     37,071        13,544,260  

Expeditors International of Washington, Inc.

     234,096        25,574,988  

J.B. Hunt Transport Services, Inc.

     82,251        14,136,479  

Quanta Services, Inc.

     115,616        19,321,746  

Rollins, Inc.(c)

     392,607        14,765,949  

Veralto Corp.(b)

     24,236        1,672,284  

W.W. Grainger, Inc.

     30,067        21,943,799  
     

 

 

 
        135,240,239  
     

 

 

 

Information Technology-14.38%

     

Apple, Inc.

     122,370        20,897,125  

Arista Networks, Inc.(b)

     122,822        24,609,844  

Enphase Energy, Inc.(b)(c)

     116,188        9,246,241  

Fair Isaac Corp.(b)

     21,873        18,501,714  

Fortinet, Inc.(b)

     360,474        20,608,299  

KLA Corp.

     64,471        30,282,029  

Lam Research Corp.

     38,842        22,847,641  

Monolithic Power Systems, Inc.

     41,259        18,225,751  

ON Semiconductor Corp.(b)

     216,695        13,573,775  

Palo Alto Networks, Inc.(b)(c)

     111,909        27,196,125  

PTC, Inc.(b)

     130,913        18,382,803  

QUALCOMM, Inc.

     110,510        12,044,485  

SolarEdge Technologies, Inc.(b)(c)

     56,356        4,280,238  
     

 

 

 
        240,696,070  
     

 

 

 

Materials-10.23%

     

Albemarle Corp.(c)

     43,326        5,492,870  

CF Industries Holdings, Inc.

     403,628        32,201,442  

FMC Corp.

     109,778        5,840,190  

Freeport-McMoRan, Inc.

     393,570        13,294,795  

Mosaic Co. (The)

     909,850        29,551,928  

Nucor Corp.

     281,553        41,610,718  

Steel Dynamics, Inc.

     406,707        43,318,362  
     

 

 

 
        171,310,305  
     

 

 

 

Utilities-1.86%

     

PG&E Corp.(b)

     1,906,041        31,068,468  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.94%
(Cost $1,667,338,096)

 

     1,672,916,481  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-4.01%

 

Invesco Private Government Fund, 5.32%(d)(e)(f)

     18,800,612        18,800,612  

 

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

 

    3    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)–(continued)

October 31, 2023

(Unaudited)

 

         Shares                Value          

Money Market Funds-(continued)

 

Invesco Private Prime Fund, 5.53%(d)(e)(f)

     48,354,529      $ 48,359,364  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $67,157,633)

 

     67,159,976  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-103.95%
(Cost $1,734,495,729)

 

     1,740,076,457  

OTHER ASSETS LESS LIABILITIES-(3.95)%

 

     (66,172,414
     

 

 

 

NET ASSETS-100.00%

      $ 1,673,904,043  
     

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c)

All or a portion of this security was out on loan at October 31, 2023.

(d) 

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2023.

 

   

Value

April 30, 2023

    Purchases
at Cost
    Proceeds
from  Sales
   

Change in

Unrealized

Appreciation

   

Realized

    Gain    

   

Value

October 31, 2023

    Dividend
Income
 
Investments in Affiliated Money Market Funds:                              
Invesco Government & Agency Portfolio, Institutional Class           $ 1,123,323             $ 14,891,742     $ (16,015,065           $ -                      $ -                      $ -             $ 8,680  
Investments Purchased with Cash Collateral from Securities on Loan:                              
Invesco Private Government Fund       15,236,858         261,877,707       (258,313,953       -           -           18,800,612         639,422
Invesco Private Prime Fund       39,180,492         472,065,543       (462,897,517       2,343           8,503           48,359,364         1,687,216
   

 

 

     

 

 

   

 

 

     

 

 

       

 

 

       

 

 

     

 

 

 
Total     $ 55,540,673       $ 748,834,992     $ (737,226,535     $ 2,343         $ 8,503         $ 67,159,976       $ 2,335,318  
   

 

 

     

 

 

   

 

 

     

 

 

       

 

 

       

 

 

     

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

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

 

    4    

 

 

 

 


 

Invesco S&P 500® Pure Growth ETF (RPG)–(continued)

October 31, 2023

(Unaudited)

 

  Portfolio Composition

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

  as of October 31, 2023

 

     

  Energy

     29.56                          

  Health Care

     19.33     

  Information Technology

     14.38     

  Materials

     10.23     

  Industrials

     8.08     

  Financials

     6.71     

  Consumer Discretionary

     6.05     

  Consumer Staples

     3.74     

  Utilities

     1.86     

  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.

 

    5    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value          

Common Stocks & Other Equity Interests-99.86%

 

Communication Services-8.20%

     

AT&T, Inc.

     1,243,060      $ 19,143,124  

Fox Corp., Class A(b)

     294,241        8,941,984  

Fox Corp., Class B

     135,583        3,784,122  

News Corp., Class A

     682,966        14,123,737  

News Corp., Class B(b)

     211,471        4,533,938  

Paramount Global, Class B(b)

     3,115,813        33,900,045  

Verizon Communications, Inc.

     305,526        10,733,128  

Warner Bros Discovery, Inc.(c)

     3,050,922        30,326,165  
     

 

 

 
        125,486,243  
     

 

 

 

Consumer Discretionary-17.36%

     

Best Buy Co., Inc.

     324,029        21,651,618  

BorgWarner, Inc.(b)

     532,685        19,656,077  

CarMax, Inc.(b)(c)

     553,254        33,798,287  

Ford Motor Co.

     2,956,483        28,825,709  

General Motors Co.

     1,239,867        34,964,249  

Lennar Corp., Class A

     297,204        31,705,723  

Mohawk Industries, Inc.(c)

     386,371        31,056,501  

PulteGroup, Inc.

     595,365        43,812,910  

Whirlpool Corp.(b)

     193,865        20,270,524  
     

 

 

 
        265,741,598  
     

 

 

 

Consumer Staples-7.67%

     

Kraft Heinz Co. (The)

     428,517        13,481,145  

Kroger Co. (The)

     642,407        29,146,005  

Molson Coors Beverage Co., Class B

     461,017        26,632,952  

Tyson Foods, Inc., Class A

     558,296        25,877,020  

Walgreens Boots Alliance, Inc.

     1,052,977        22,196,755  
     

 

 

 
        117,333,877  
     

 

 

 

Energy-5.72%

     

Kinder Morgan, Inc.

     554,799        8,987,744  

Phillips 66

     373,840        42,643,929  

Valero Energy Corp.

     282,663        35,898,201  
     

 

 

 
        87,529,874  
     

 

 

 

Financials-23.32%

     

Allstate Corp. (The)

     92,325        11,829,602  

American International Group, Inc.

     390,856        23,963,381  

Assurant, Inc

     144,203        21,471,827  

Bank of America Corp.

     319,217        8,408,176  

Bank of New York Mellon Corp. (The)

     355,815        15,122,137  

Berkshire Hathaway, Inc., Class B(c)

     87,154        29,748,275  

Capital One Financial Corp.

     289,161        29,289,118  

Citigroup, Inc.

     799,276        31,563,409  

Citizens Financial Group, Inc.

     453,149        10,617,281  

Fidelity National Information Services, Inc.

     289,619        14,223,189  

Franklin Resources, Inc.(b)

     619,961        14,128,911  

Global Payments, Inc.

     96,206        10,219,001  

Goldman Sachs Group, Inc. (The)

     31,931        9,694,571  

Hartford Financial Services Group, Inc. (The)

     146,696        10,774,821  

Invesco Ltd.(d)

     1,480,419        19,201,034  

Loews Corp.

     418,658        26,798,299  

M&T Bank Corp.

     59,696        6,730,724  

MetLife, Inc.

     137,772        8,267,698  

Prudential Financial, Inc.

     128,815        11,778,844  

State Street Corp.

     166,269        10,745,965  
         Shares                Value          

Financials-(continued)

     

Synchrony Financial

     359,048      $ 10,071,296  

Truist Financial Corp.

     325,716        9,237,306  

Wells Fargo & Co.

     325,163        12,931,733  
     

 

 

 
        356,816,598  
     

 

 

 

Health Care-10.01%

     

Cardinal Health, Inc.

     267,143        24,310,013  

Cencora, Inc.(b)

     142,965        26,469,969  

Centene Corp.(c)

     364,507        25,143,693  

CVS Health Corp.

     272,809        18,826,549  

DaVita, Inc.(c)

     136,069        10,508,609  

Universal Health Services, Inc., Class B

     145,993        18,379,059  

Viatris, Inc.

     3,319,839        29,546,567  
     

 

 

 
        153,184,459  
     

 

 

 

Industrials-8.23%

     

Alaska Air Group, Inc.(c)

     427,818        13,531,883  

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

     1,313,207        14,642,258  

Delta Air Lines, Inc.

     439,799        13,743,719  

FedEx Corp.

     145,241        34,872,364  

Southwest Airlines Co.(b)

     251,417        5,589,000  

Stanley Black & Decker, Inc.

     276,184        23,489,449  

United Airlines Holdings, Inc.(c)

     574,541        20,114,681  
     

 

 

 
        125,983,354  
     

 

 

 

Information Technology-7.27%

     

Hewlett Packard Enterprise Co.

     1,824,270        28,057,272  

HP, Inc.

     492,915        12,978,452  

Intel Corp.

     507,394        18,519,881  

Micron Technology, Inc.

     245,202        16,396,658  

Western Digital Corp.(b)(c)

     878,585        35,275,188  
     

 

 

 
        111,227,451  
     

 

 

 

Materials-9.49%

     

Celanese Corp.(b)

     98,557        11,285,762  

Dow, Inc.(b)

     403,106        19,486,144  

DuPont de Nemours, Inc.(b)

     137,029        9,986,674  

Eastman Chemical Co.

     153,768        11,491,083  

International Paper Co.

     707,091        23,850,179  

LyondellBasell Industries N.V., Class A

     280,675        25,328,112  

WestRock Co.

     1,220,668        43,858,601  
     

 

 

 
        145,286,555  
     

 

 

 

Real Estate-0.62%

     

CBRE Group, Inc., Class A(c)

     136,564        9,469,348  
     

 

 

 

Utilities-1.97%

     

Evergy, Inc.

     149,214        7,332,376  

Exelon Corp.

     322,601        12,562,083  

Pinnacle West Capital Corp.

     138,120        10,245,742  
     

 

 

 
        30,140,201  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $1,928,689,328)

 

     1,528,199,558  
     

 

 

 

 

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

 

    6    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)–(continued)

October 31, 2023

(Unaudited)

 

         Shares                Value          

Money Market Funds-0.03%

     

Invesco Government & Agency Portfolio, Institutional Class, 5.27%(d)(e)
(Cost $495,406)

     495,406      $ 495,406  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.89%
(Cost $1,929,184,734)

 

     1,528,694,964  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-8.07%

     

Invesco Private Government Fund,
5.32%(d)(e)(f)

     34,559,810        34,559,810  
         Shares                Value          

Money Market Funds-(continued)

 

  

Invesco Private Prime Fund, 5.53%(d)(e)(f)

     88,882,392      $ 88,891,280  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $123,449,996)

 

     123,451,090  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-107.96%
(Cost $2,052,634,730)

 

     1,652,146,054  

OTHER ASSETS LESS LIABILITIES-(7.96)%

 

     (121,885,052
     

 

 

 

NET ASSETS-100.00%

      $ 1,530,261,002  
     

 

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

All or a portion of this security was out on loan at October 31, 2023.

(c) 

Non-income producing security.

(d) 

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2023.

 

     Value
April 30, 2023
     Purchases
at Cost
     Proceeds
from Sales
    Change in
Unrealized
Appreciation
(Depreciation)
            Realized
Gain
(Loss)
    Value
October 31,  2023
     Dividend
Income
 
Invesco Ltd.    $ 39,169,938      $ 2,153,461      $ (14,559,388     $ (3,144,051)          $ (4,418,926     $ 19,201,034         $ 771,960  
Investments in Affiliated Money Market Funds:                             
Invesco Government & Agency Portfolio, Institutional Class      1,188,078        28,024,481        (28,717,153       -                     495,406           14,231  
Investments Purchased with Cash Collateral from Securities on Loan:                             
Invesco Private Government Fund      80,004,554        267,692,704        (313,137,448       -                     34,559,810           1,299,811
Invesco Private Prime Fund      205,725,996        555,549,923        (672,386,293       26,439            (24,785       88,891,280           3,493,476
  

 

 

    

 

 

    

 

 

     

 

 

       

 

 

     

 

 

       

 

 

 

Total

   $ 326,088,566      $ 853,420,569      $ (1,028,800,282           $ (3,117,612)                $ (4,443,711           $ 143,147,530               $ 5,579,478  
  

 

 

    

 

 

    

 

 

     

 

 

       

 

 

     

 

 

       

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

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

 

    7    

 

 

 

 


 

Invesco S&P 500® Pure Value ETF (RPV)–(continued)

October 31, 2023

(Unaudited)

 

  Portfolio Composition

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

  as of October 31, 2023

 

     

  Financials

     23.32     

  Consumer Discretionary

     17.36     

  Health Care

     10.01                          

  Materials

     9.49     

  Industrials

     8.23     

  Communication Services

     8.20     

  Consumer Staples

     7.67     

  Information Technology

     7.27     

  Energy

     5.72     

  Sector Types Each Less Than 3%

     2.59     

  Money Market Funds Plus Other Assets Less Liabilities

     0.14     

 

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

 

    8    

 

 

 

 


 

Invesco S&P 500® Top 50 ETF (XLG)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value          

Common Stocks & Other Equity Interests-99.98%

 

Communication Services-13.41%

     

Alphabet, Inc., Class A(b)

     743,315      $ 92,230,525  

Alphabet, Inc., Class C(b)

     632,283        79,225,060  

Comcast Corp., Class A

     515,306        21,276,985  

Meta Platforms, Inc., Class A(b)

     278,457        83,890,740  

Netflix, Inc.(b)

     55,500        22,848,795  

Verizon Communications, Inc.

     526,107        18,482,139  

Walt Disney Co. (The)(b)

     229,274        18,706,466  
     

 

 

 
        336,660,710  
     

 

 

 

Consumer Discretionary-11.81%

     

Amazon.com, Inc.(b)

     1,137,475        151,386,548  

Home Depot, Inc. (The)

     125,957        35,858,698  

McDonald’s Corp.

     91,303        23,936,908  

NIKE,Inc.,Class B

     153,093        15,733,368  

Tesla, Inc.(b)

     345,922        69,474,974  
     

 

 

 
        296,390,496  
     

 

 

 

Consumer Staples-7.22%

     

Coca-Cola Co. (The)

     487,153        27,519,273  

Costco Wholesale Corp.

     55,471        30,644,399  

Kenvue, Inc.

     215,837        4,014,568  

PepsiCo, Inc.

     172,313        28,135,266  

Philip Morris International, Inc.

     194,348        17,328,068  

Procter & Gamble Co. (The)

     295,374        44,314,961  

Walmart, Inc.

     178,892        29,232,742  
     

 

 

 
        181,189,277  
     

 

 

 

Energy-3.40%

     

Chevron Corp.(c)

     222,285        32,393,593  

Exxon Mobil Corp.

     501,562        53,090,338  
     

 

 

 
        85,483,931  
     

 

 

 

Financials-10.21%

     

Bank of America Corp.

     865,097        22,786,655  

Berkshire Hathaway, Inc., Class B(b)

     228,394        77,957,724  

JPMorgan Chase & Co.

     364,156        50,639,533  

Mastercard, Inc., Class A

     104,266        39,240,509  

Visa, Inc., Class A(c)

     201,321        47,330,567  

Wells Fargo & Co.

     457,914        18,211,240  
     

 

 

 
        256,166,228  
     

 

 

 

Health Care-12.71%

     

Abbott Laboratories(c)

     217,225        20,538,624  

AbbVie, Inc.

     221,087        31,213,063  

Bristol-Myers Squibb Co.

     261,554        13,477,877  

Danaher Corp.

     82,267        15,796,909  

Eli Lilly and Co.

     99,852        55,311,018  

Johnson & Johnson

     301,594        44,738,454  

Merck & Co., Inc.

     317,871        32,645,352  
         Shares                Value          

Health Care-(continued)

     

Pfizer, Inc.

     706,548      $ 21,592,107  

Thermo Fisher Scientific, Inc.

     48,301        21,482,836  

UnitedHealth Group, Inc.

     115,984        62,116,391  
     

 

 

 
        318,912,631  
     

 

 

 

Industrials-0.07%

     

Veralto Corp.(b)

     27,539        1,900,191  
     

 

 

 

Information Technology-39.63%

     

Accenture PLC, Class A

     79,209        23,532,202  

Adobe, Inc.(b)

     57,263        30,467,352  

Advanced Micro Devices, Inc.(b)

     202,243        19,920,935  

Apple, Inc.

     1,841,256        314,431,287  

Broadcom, Inc.(c)

     51,714        43,510,608  

Cisco Systems, Inc.(c)

     510,525        26,613,668  

Intel Corp.

     524,244        19,134,906  

Microsoft Corp.

     930,846        314,728,341  

NVIDIA Corp.

     309,403        126,174,543  

Oracle Corp.

     196,894        20,358,840  

QUALCOMM, Inc.

     139,887        15,246,284  

Salesforce, Inc.(b)

     121,990        24,499,252  

Texas Instruments, Inc.

     113,561        16,126,798  
     

 

 

 
        994,745,016  
     

 

 

 

Materials-0.93%

     

Linde PLC(c)

     61,118        23,356,855  
     

 

 

 

Utilities-0.59%

     

NextEra Energy, Inc.

     253,419        14,774,328  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.98%
(Cost $2,254,493,587)

 

     2,509,579,663  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-2.16%

 

Invesco Private Government Fund,
5.32%(d)(e)(f)

     15,180,932        15,180,932  

Invesco Private Prime Fund, 5.53%(d)(e)(f)

     39,045,258        39,049,163  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $54,230,095)

 

     54,230,095  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-102.14%
(Cost $2,308,723,682)

 

     2,563,809,758  

OTHER ASSETS LESS LIABILITIES-(2.14)%

 

     (53,835,277
     

 

 

 

NET ASSETS-100.00%

      $ 2,509,974,481  
     

 

 

 

 

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

 

    9    

 

 

 

 


 

Invesco S&P 500® Top 50 ETF (XLG)–(continued)

October 31, 2023

(Unaudited)

 

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at October 31, 2023.

(d) 

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2023.

 

    

Value

April 30, 2023

   Purchases
at Cost
   Proceeds
from Sales
  Change in
Unrealized
Appreciation
   Realized
Gain
   Value
October 31,  2023
   Dividend
Income
Investments in Affiliated Money Market Funds:                                                               
Invesco Government & Agency Portfolio, Institutional Class          $ -           $ 18,850,359      $ (18,850,359 )          $ -           $ -           $ -           $ 16,060
Investments Purchased with Cash Collateral from Securities on Loan:                                                               
Invesco Private Government Fund            10,832,299             184,450,388        (180,101,755 )                -                 -                 15,180,932                 526,961 *
Invesco Private Prime Fund            27,854,484             415,676,611        (404,487,225 )            163             5,130             39,049,163             1,395,298 *
        

 

 

           

 

 

      

 

 

          

 

 

           

 

 

           

 

 

           

 

 

 
Total          $ 38,686,783           $ 618,977,358      $ (603,439,339 )          $ 163           $ 5,130           $ 54,230,095           $ 1,938,319
        

 

 

           

 

 

      

 

 

          

 

 

           

 

 

           

 

 

           

 

 

 

 

*

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

 

(e) 

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

(f) 

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

  Portfolio Composition

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

  as of October 31, 2023

 

     

Information Technology

     39.63     

Communication Services

     13.41                          

Health Care

     12.71     

Consumer Discretionary

     11.81     

Financials

     10.21     

Consumer Staples

     7.22     

Energy

     3.40     

Sector Types Each Less Than 3%

     1.59     

  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.

 

    10    

 

 

 

 


 

Invesco S&P MidCap 400® Pure Growth ETF (RFG)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares                Value          

Common Stocks & Other Equity Interests-99.93%

 

Communication Services-2.41%

     

Nexstar Media Group, Inc., Class A

     22,858      $ 3,201,949  

TKO Group Holdings, Inc.(b)

     32,007        2,623,934  
     

 

 

 
        5,825,883  
     

 

 

 

Consumer Discretionary-11.23%

     

Crocs, Inc.(b)(c)

     17,204        1,536,661  

Deckers Outdoor Corp.(c)

     4,577        2,732,744  

Floor & Decor Holdings, Inc., Class A(b)(c)

     18,968        1,562,963  

Grand Canyon Education, Inc.(c)

     29,723        3,517,122  

H&R Block, Inc.(b)

     50,762        2,083,780  

Murphy USA, Inc.

     16,272        5,901,692  

Service Corp. International

     23,686        1,288,992  

Tempur Sealy International, Inc.(b)

     72,102        2,879,033  

Texas Roadhouse, Inc.

     21,874        2,221,086  

Visteon Corp.(c)

     9,813        1,129,771  

Wingstop, Inc.(b)

     12,277        2,243,867  
     

 

 

 
        27,097,711  
     

 

 

 

Consumer Staples-5.41%

     

Casey’s General Stores, Inc.

     13,154        3,576,704  

Celsius Holdings, Inc.(b)(c)

     40,009        6,084,969  

Darling Ingredients, Inc.(b)(c)

     44,709        1,980,162  

Lancaster Colony Corp.

     8,332        1,409,524  
     

 

 

 
        13,051,359  
     

 

 

 

Energy-23.84%

     

Antero Resources Corp.(b)(c)

     167,334        4,926,313  

Civitas Resources, Inc.(b)

     68,829        5,191,772  

CNX Resources Corp.(b)(c)

     224,053        4,866,431  

DT Midstream, Inc.(b)

     63,430        3,423,317  

Matador Resources Co.

     84,610        5,219,591  

Murphy Oil Corp.

     83,461        3,744,895  

NOV, Inc.

     112,500        2,245,500  

PBF Energy, Inc., Class A

     157,136        7,468,674  

Range Resources Corp.(b)

     177,800        6,372,352  

Southwestern Energy Co.(c)

     679,084        4,841,869  

Valaris Ltd.(b)(c)

     48,611        3,210,270  

Weatherford International PLC(c)

     64,495        6,003,840  
     

 

 

 
        57,514,824  
     

 

 

 

Financials-11.74%

     

Annaly Capital Management, Inc.(b)

     275,651        4,302,912  

Erie Indemnity Co., Class A(b)

     8,705        2,404,234  

FirstCash Holdings, Inc.

     18,483        2,013,168  

Jefferies Financial Group, Inc.

     98,587        3,172,530  

Kinsale Capital Group, Inc.

     15,838        5,288,467  

Morningstar, Inc.(b)

     6,241        1,580,471  

RLI Corp.

     28,958        3,858,364  

Selective Insurance Group, Inc.

     16,050        1,670,965  

SLM Corp.

     190,692        2,478,996  

WEX, Inc.(b)(c)

     9,278        1,544,601  
     

 

 

 
        28,314,708  
     

 

 

 

Health Care-11.63%

     

Exelixis, Inc.(c)

     90,225        1,857,733  

Halozyme Therapeutics, Inc.(b)(c)

     80,869        2,739,033  

HealthEquity, Inc.(b)(c)

     19,995        1,433,242  

Inari Medical, Inc.(b)(c)

     42,739        2,594,685  

Jazz Pharmaceuticals PLC(b)(c)

     15,067        1,913,810  
         Shares                Value          

Health Care-(continued)

     

Lantheus Holdings, Inc.(b)(c)

     34,806      $ 2,248,468  

Medpace Holdings, Inc.(c)

     11,720        2,844,092  

Neurocrine Biosciences, Inc.(c)

     34,323        3,807,794  

Option Care Health, Inc.(c)

     70,314        1,949,807  

Repligen Corp.(b)(c)

     9,770        1,314,651  

Shockwave Medical, Inc.(b)(c)

     19,783        4,080,441  

United Therapeutics Corp.(c)

     5,748        1,280,999  
     

 

 

 
        28,064,755  
     

 

 

 

Industrials-17.56%

     

Avis Budget Group, Inc.(c)

     15,205        2,475,374  

Builders FirstSource, Inc.(c)

     58,789        6,379,782  

BWX Technologies, Inc.

     30,628        2,275,048  

Carlisle Cos., Inc.

     7,671        1,949,124  

Clean Harbors, Inc.(c)

     18,133        2,786,498  

Concentrix Corp.

     16,539        1,260,437  

EMCOR Group, Inc.

     12,470        2,576,926  

ExlService Holdings, Inc.(b)(c)

     63,432        1,656,210  

FTI Consulting, Inc.(b)(c)

     10,866        2,306,417  

KBR, Inc.

     30,492        1,773,110  

Landstar System, Inc.

     17,963        2,959,943  

Paylocity Holding Corp.(c)

     7,348        1,318,231  

RBC Bearings, Inc.(b)(c)

     14,448        3,176,248  

Simpson Manufacturing Co., Inc.

     21,838        2,908,385  

Toro Co. (The)

     13,190        1,066,280  

UFP Industries, Inc.

     40,987        3,900,733  

Valmont Industries, Inc.

     8,166        1,607,967  
     

 

 

 
        42,376,713  
     

 

 

 

Information Technology-5.60%

     

Amkor Technology, Inc.

     128,639        2,683,410  

Belden, Inc.

     25,343        1,796,819  

Calix, Inc.(c)

     24,278        804,087  

Cirrus Logic, Inc.(c)

     29,841        1,997,258  

Dropbox, Inc., Class A(b)(c)

     82,555        2,171,196  

GoDaddy, Inc., Class A(c)

     33,930        2,484,694  

Onto Innovation, Inc.(b)(c)

     14,032        1,576,776  
     

 

 

 
        13,514,240  
     

 

 

 

Materials-8.23%

     

Cabot Corp.(b)

     27,732        1,843,623  

Eagle Materials, Inc.

     11,538        1,775,814  

Louisiana-Pacific Corp.

     58,503        3,000,034  

MP Materials Corp.(b)(c)

     78,841        1,292,993  

Olin Corp.

     39,636        1,693,250  

Reliance Steel & Aluminum Co.

     17,014        4,328,021  

Silgan Holdings, Inc.

     44,072        1,765,524  

Westlake Corp.(b)

     36,122        4,167,034  
     

 

 

 
        19,866,293  
     

 

 

 

Utilities-2.28%

     

Essential Utilities, Inc.

     59,663        1,996,324  

OGE Energy Corp.

     54,069        1,849,160  

ONE Gas, Inc.(b)

     27,386        1,654,114  
     

 

 

 
        5,499,598  
     

 

 

 

Total Common Stocks & Other Equity Interests
(Cost $233,358,024)

 

     241,126,084  
     

 

 

 

 

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

 

    11    

 

 

 

 


 

Invesco S&P MidCap 400® Pure Growth ETF (RFG)–(continued)

October 31, 2023

(Unaudited)

 

         Shares                Value          

Money Market Funds-0.09%

 

  

Invesco Government & Agency Portfolio, Institutional Class, 5.27%(d)(e)
(Cost $225,062)

     225,062      $ 225,062  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-100.02%
(Cost $233,583,086)

 

     241,351,146  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-23.16%

     

Invesco Private Government Fund,
5.32%(d)(e)(f)

     14,854,081        14,854,081  
     

 

 

 
         Shares                Value          

Money Market Funds-(continued)

 

Invesco Private Prime Fund, 5.53%(d)(e)(f)

     41,012,679      $ 41,016,780  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $55,869,618)

 

     55,870,861  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-123.18%
(Cost $289,452,704)

 

     297,222,007  

OTHER ASSETS LESS LIABILITIES-(23.18)%

 

     (55,926,618
     

 

 

 

NET ASSETS-100.00%

      $ 241,295,389  
     

 

 

 

 

Notes to Schedule of Investments:

(a) 

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

(b) 

All or a portion of this security was out on loan at October 31, 2023.

(c) 

Non-income producing security.

(d) 

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2023.

 

    

Value

April 30, 2023

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

Value

October 31, 2023

 

Dividend
Income

Investments in Affiliated Money Market Funds:                                                                                                        
Invesco Government & Agency Portfolio, Institutional Class           $ 210,840          $ 1,526,119          $ (1,511,897 )              $ -              $ -             $ 225,062         $ 1,760
Investments Purchased with Cash Collateral from Securities on Loan:                                                                          
Invesco Private Government Fund             12,371,070            85,015,800            (82,532,789 )                -                -               14,854,081           300,179 *
Invesco Private Prime Fund             31,811,322            163,608,944            (154,406,891 )                1,674                1,731               41,016,780           801,063 *
         

 

 

          

 

 

          

 

 

              

 

 

              

 

 

             

 

 

         

 

 

 
Total           $ 44,393,232          $ 250,150,863          $ (238,451,577 )              $ 1,674              $ 1,731             $ 56,095,923         $ 1,103,002
         

 

 

          

 

 

          

 

 

              

 

 

              

 

 

             

 

 

         

 

 

 

 

*

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

 

(e) 

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

(f) 

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

 

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

 

    12    

 

 

 

 


 

Invesco S&P MidCap 400® Pure Growth ETF (RFG)–(continued)

October 31, 2023

(Unaudited)

 

  Portfolio Composition

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

  as of October 31, 2023

 

     

Energy

     23.84     

Industrials

     17.56     

Financials

     11.74                          

Health Care

     11.63     

Consumer Discretionary

     11.23     

Materials

     8.23     

Information Technology

     5.60     

Consumer Staples

     5.41     

Sector Types Each Less Than 3%

     4.69     

   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.

 

    13    

 

 

 

 


 

Invesco S&P MidCap 400® Pure Value ETF (RFV)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares              Value        

Common Stocks & Other Equity Interests-99.99%

 

Communication Services-0.48%

     

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

     61,603      $ 1,103,926  
     

 

 

 

Consumer Discretionary-34.36%

     

Adient PLC(b)

     119,786        4,035,590  

Gap, Inc. (The)(c)

     289,435        3,704,768  

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

     795,053        9,461,131  

Graham Holdings Co., Class B(c)

     6,588        3,812,607  

KB Home

     213,490        9,436,258  

Lear Corp.(c)

     21,935        2,846,285  

Lithia Motors, Inc., Class A

     25,539        6,185,801  

Macy’s, Inc.(c)

     213,989        2,606,386  

Nordstrom, Inc.(c)

     187,669        2,623,613  

Penske Automotive Group, Inc.(c)

     29,897        4,277,663  

PVH Corp.

     81,426        6,054,023  

Skechers U.S.A., Inc., Class A(b)

     33,355        1,608,378  

Taylor Morrison Home Corp., Class A(b)(c)

     230,618        8,837,282  

Thor Industries, Inc.

     71,387        6,277,059  

Toll Brothers, Inc.

     88,284        6,242,562  

Topgolf Callaway Brands Corp.(b)(c)

     113,150        1,382,693  
     

 

 

 
        79,392,099  
     

 

 

 

Consumer Staples-2.36%

     

Pilgrim’s Pride Corp.(b)(c)

     160,219        4,085,584  

Post Holdings, Inc.(b)(c)

     17,188        1,379,853  
     

 

 

 
        5,465,437  
     

 

 

 

Energy-0.73%

     

Chesapeake Energy Corp.(c)

     19,538        1,681,831  
     

 

 

 

Financials-14.99%

     

Associated Banc-Corp

     70,477        1,142,432  

Brighthouse Financial, Inc.(b)

     136,771        6,195,726  

CNO Financial Group, Inc.(c)

     73,602        1,706,094  

Essent Group Ltd.

     43,065        2,034,391  

F.N.B. Corp.(c)

     125,768        1,344,460  

First American Financial Corp.(c)

     51,702        2,659,551  

Janus Henderson Group PLC(c)

     85,449        1,971,309  

Kemper Corp.

     34,961        1,394,245  

MGIC Investment Corp.

     157,481        2,651,980  

New York Community Bancorp, Inc.(c)

     365,090        3,461,053  

Old Republic International Corp.

     93,110        2,549,352  

Reinsurance Group of America, Inc.

     11,141        1,665,245  

Starwood Property Trust, Inc.(c)

     76,379        1,355,727  

Unum Group

     92,424        4,519,534  
     

 

 

 
        34,651,099  
     

 

 

 

Health Care-5.34%

     

Enovis Corp.(b)(c)

     66,973        3,074,061  

Patterson Cos., Inc.(c)

     87,102        2,653,127  

Perrigo Co. PLC.

     77,157        2,132,619  

Tenet Healthcare Corp.(b)(c)

     83,347        4,475,734  
     

 

 

 
        12,335,541  
     

 

 

 

Industrials-10.07%

     

Fluor Corp.(b)

     74,086        2,466,323  

GXO Logistics, Inc.(b)

     47,282        2,388,214  

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

     84,764        714,560  

ManpowerGroup, Inc.

     53,826        3,766,205  
         Shares              Value        

Industrials-(continued)

     

Ryder System, Inc.

     49,270      $ 4,805,796  

XPO, Inc.(b)

     120,369        9,125,174  
     

 

 

 
        23,266,272  
     

 

 

 

Information Technology-14.89%

     

Arrow Electronics, Inc.(b)(c)

     53,368        6,052,465  

Avnet, Inc.

     148,196        6,865,921  

Coherent Corp.(b)

     52,111        1,542,486  

Jabil, Inc.

     51,763        6,356,496  

Kyndryl Holdings, Inc.(b)

     238,302        3,486,358  

MKS Instruments, Inc.

     20,210        1,326,989  

NCR Voyix Corp.(b)(c)

     148,497        2,270,519  

TD SYNNEX Corp.(c)

     55,950        5,129,496  

Vishay Intertechnology, Inc.(c)

     61,622        1,370,473  
     

 

 

 
        34,401,203  
     

 

 

 

Materials-9.76%

     

Alcoa Corp.

     38,368        983,755  

Avient Corp.(c)

     63,145        1,996,645  

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

     393,644        6,605,346  

Greif, Inc., Class A(c)

     34,526        2,192,401  

United States Steel Corp.(c)

     317,722        10,767,599  
     

 

 

 
        22,545,746  
     

 

 

 

Real Estate-5.88%

     

Cousins Properties, Inc.

     81,674        1,459,514  

Jones Lang LaSalle, Inc.(b)(c)

     19,275        2,465,658  

Kilroy Realty Corp.(c)

     40,271        1,150,945  

Medical Properties Trust, Inc.(c)

     177,710        849,454  

Park Hotels & Resorts, Inc.(c)

     340,698        3,928,248  

Sabra Health Care REIT, Inc.

     105,116        1,433,782  

Vornado Realty Trust(c)

     120,063        2,305,210  
     

 

 

 
        13,592,811  
     

 

 

 

Utilities-1.13%

     

Southwest Gas Holdings, Inc.

     24,045        1,409,277  

UGI Corp.(c)

     58,017        1,206,754  
     

 

 

 
        2,616,031  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.99%
(Cost $252,496,956)

 

     231,051,996  
     

 

 

 
Investments Purchased with Cash Collateral from Securities on Loan

 

Money Market Funds-20.65%

     

Invesco Private Government Fund,
5.32%(d)(e)(f)

     13,444,279        13,444,279  

Invesco Private Prime Fund, 5.53%(d)(e)(f)

     34,270,037        34,273,464  
     

 

 

 

Total Investments Purchased with Cash Collateral from Securities on Loan
(Cost $47,717,212)

 

     47,717,743  
     

 

 

 

TOTAL INVESTMENTS IN SECURITIES-120.64%
(Cost $300,214,168)

 

     278,769,739  

OTHER ASSETS LESS LIABILITIES-(20.64)%

 

     (47,698,143
     

 

 

 

NET ASSETS-100.00%

      $ 231,071,596  
     

 

 

 

 

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

 

    14    

 

 

 

 


 

Invesco S&P MidCap 400® Pure Value ETF (RFV)–(continued)

October 31, 2023

(Unaudited)

 

Investment Abbreviations:

REIT-Real Estate Investment Trust

Notes to Schedule of Investments:

(a) 

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

(b) 

Non-income producing security.

(c) 

All or a portion of this security was out on loan at October 31, 2023.

(d) 

Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the six months ended October 31, 2023.

 

    

Value

April 30, 2023

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

Value

October 31, 2023

   Dividend
Income
Investments in Affiliated Money Market Funds:                                                               
Invesco Government & Agency Portfolio, Institutional Class           $ 110,321           $ 9,982,547      $ (10,092,868 )          $ -           $ -          $ -           $ 5,296
Investments Purchased with Cash Collateral from Securities on Loan:                                                               
Invesco Private Government Fund             14,295,372             79,774,494        (80,625,587 )                -                 -                13,444,279                 352,373 *
Invesco Private Prime Fund             36,759,529             155,110,300        (157,597,736 )            2,898             (1,527 )            34,273,464             938,739 *
         

 

 

           

 

 

      

 

 

          

 

 

           

 

 

          

 

 

           

 

 

 
Total           $ 51,165,222           $ 244,867,341      $ (248,316,191 )          $ 2,898           $ (1,527 )          $ 47,717,743           $ 1,296,408
         

 

 

           

 

 

      

 

 

          

 

 

           

 

 

          

 

 

           

 

 

 

 

*

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

 

(e) 

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

(f) 

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

  Portfolio Composition

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

  as of October 31, 2023

 

     

Consumer Discretionary

     34.36     

Financials

     14.99     

Information Technology

     14.89     

Industrials

     10.07     

Materials

     9.76                          

Real Estate

     5.88     

Health Care

     5.34     

Sector Types Each Less Than 3%

     4.70     

   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    

 

 

 

 


 

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)

October 31, 2023

(Unaudited)

Schedule of Investments(a)

 

         Shares              Value        

Common Stocks & Other Equity Interests-99.94%

 

Communication Services-1.47%

     

ATN International, Inc.

     17,463      $ 540,480  

Cars.com, Inc.(b)

     45,099        686,858  
     

 

 

 
        1,227,338  
     

 

 

 

Consumer Discretionary-8.39%

     

Adtalem Global Education, Inc.(b)

     23,614        1,223,205  

Cavco Industries, Inc.(b)

     2,960        738,550  

Ethan Allen Interiors, Inc.

     20,236        531,397  

Green Brick Partners, Inc.(b)

     42,447        1,642,699  

Jack in the Box, Inc.(c)

     10,324        652,270  

Monarch Casino & Resort, Inc.

     12,479        751,111  

Stride, Inc.(b)(c)

     16,466        905,301  

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

     12,256        567,453  
     

 

 

 
        7,011,986  
     

 

 

 

Consumer Staples-5.81%

     

Cal-Maine Foods, Inc.

     17,126        775,979  

e.l.f. Beauty, Inc.(b)

     14,618        1,354,065  

Hostess Brands, Inc.(b)

     16,917        565,028  

Medifast, Inc.(c)

     4,179        289,020  

MGP Ingredients, Inc.(c)

     7,161        677,860  

Simply Good Foods Co. (The)(b)(c)

     20,653        770,150  

Tootsie Roll Industries, Inc.(c)

     13,660        424,963  
     

 

 

 
        4,857,065  
     

 

 

 

Energy-12.03%

     

Comstock Resources, Inc.(c)

     130,397        1,643,002  

CONSOL Energy, Inc.

     6,957        639,279  

Dorian LPG Ltd.

     55,293        1,767,717  

Northern Oil and Gas, Inc.

     30,771        1,179,760  

REX American Resources Corp.(b)

     43,693        1,660,771  

RPC, Inc.

     47,565        395,741  

SM Energy Co.

     40,103        1,616,953  

Vital Energy, Inc.(b)(c)

     22,951        1,148,468  
     

 

 

 
        10,051,691  
     

 

 

 

Financials-13.93%

     

ARMOUR Residential REIT, Inc.(c)

     49,472        720,807  

Avantax, Inc.(b)

     26,837        692,663  

BancFirst Corp.

     5,796        470,114  

Bancorp, Inc. (The)(b)

     13,684        487,835  

Banner Corp.

     5,127        216,411  

City Holding Co.(c)

     4,682        425,032  

CVB Financial Corp.(c)

     12,692        198,249  

Dime Community Bancshares, Inc.

     17,654        324,657  

First Bancorp

     53,063        708,391  

Hanmi Financial Corp.

     29,285        429,904  

Heritage Financial Corp.

     12,890        209,720  

Mr. Cooper Group, Inc.(b)

     28,964        1,637,335  

NBT Bancorp, Inc.(c)

     11,477        384,135  

OFG Bancorp

     34,229        1,013,863  

Palomar Holdings, Inc.(b)(c)

     12,664        634,213  

Piper Sandler Cos

     5,544        775,328  

Preferred Bank(c)

     7,336        437,005  

ServisFirst Bancshares, Inc.(c)

     5,791        273,104  

Stellar Bancorp, Inc.(c)

     18,616        404,712  

StoneX Group, Inc.(b)

     12,561        1,197,314  
     

 

 

 
        11,640,792  
     

 

 

 
         Shares              Value        

Health Care-16.28%

     

AdaptHealth Corp.(b)(c)

     31,316      $ 229,546  

Addus HomeCare Corp.(b)

     3,479        274,493  

AMN Healthcare Services, Inc.(b)

     9,621        729,849  

Amphastar Pharmaceuticals, Inc.(b)

     23,785        1,076,747  

Arcus Biosciences, Inc.(b)(c)

     20,039        314,813  

Catalyst Pharmaceuticals, Inc.(b)(c)

     78,537        974,644  

Collegium Pharmaceutical, Inc.(b)

     16,941        368,636  

Corcept Therapeutics, Inc.(b)

     29,351        824,176  

Cross Country Healthcare, Inc.(b)(c)

     46,791        1,083,680  

Cytokinetics, Inc.(b)(c)

     27,337        952,968  

Dynavax Technologies Corp.(b)(c)

     94,093        1,337,062  

Ensign Group, Inc. (The)(c)

     8,901        859,837  

Innoviva, Inc.(b)(c)

     57,269        710,708  

NextGen Healthcare, Inc.(b)(c)

     20,717        495,551  

OmniAb Operations, Inc., Rts., expiring 11/02/2027(b)(c)(e)

     2,880        0  

OmniAb Operations, Inc., Rts., expiring 11/02/2027(b)(c)(e)

     2,881        0  

Pacira BioSciences, Inc.(b)

     7,432        210,028  

Privia Health Group, Inc.(b)(c)

     17,253        362,658  

REGENXBIO, Inc.(b)(c)

     33,360        430,010  

Supernus Pharmaceuticals, Inc.(b)

     16,867        402,278  

UFP Technologies, Inc.(b)(c)

     5,643        879,857  

Veradigm, Inc.(b)(c)

     25,737        339,471  

Vir Biotechnology, Inc.(b)

     64,712        513,166  

Xencor, Inc.(b)(c)

     13,509        234,381  
     

 

 

 
        13,604,559  
     

 

 

 

Industrials-18.23%

     

AAON, Inc.(c)

     13,016        709,112  

AeroVironment, Inc.(b)

     4,184        479,737  

Applied Industrial Technologies, Inc.

     3,656        561,233  

Boise Cascade Co.

     15,673        1,469,344  

Comfort Systems USA, Inc.

     7,216        1,312,230  

Encore Wire Corp.(c)

     8,540        1,527,208  

EnPro Industries, Inc.

     4,476        497,105  

Forward Air Corp.

     6,731        433,544  

Franklin Electric Co., Inc.

     4,698        407,411  

Hillenbrand, Inc.

     8,809        335,006  

Lindsay Corp.

     4,994        623,850  

Marten Transport Ltd.

     35,605        625,936  

Matson, Inc.

     18,486        1,609,206  

Mueller Industries, Inc.(c)

     28,992        1,093,288  

NV5 Global, Inc.(b)

     3,958        373,437  

PGT Innovations, Inc.(b)

     40,700        1,218,558  

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

     33,376        434,555  

Titan International, Inc.(b)

     58,121        660,255  

Verra Mobility Corp., Class A(b)

     43,650        862,960  
     

 

 

 
        15,233,975  
     

 

 

 

Information Technology-17.62%

     

A10 Networks, Inc.

     21,029        228,585  

Advanced Energy Industries, Inc.(c)

     11,849        1,033,944  

Agilysys, Inc.(b)

     6,650        570,504  

Alpha & Omega Semiconductor Ltd.(b)

     23,646        560,883  

Axcelis Technologies, Inc.(b)(c)

     17,178        2,190,195  

Badger Meter, Inc.

     3,760        520,948  

Clearfield, Inc.(b)(c)

     12,685        304,694  

CTS Corp.

     10,626        397,519  

 

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

 

    16    

 

 

 

 


 

Invesco S&P SmallCap 600® Pure Growth ETF (RZG)–(continued)

October 31, 2023

(Unaudited)

 

         Shares              Value        

Information Technology-(continued)

 

Digi International, Inc.(b)(c)

     12,626      $ 317,923  

Diodes, Inc.(b)

     6,061        394,450  

DoubleVerify Holdings, Inc.(b)

     33,933        944,355  

Extreme Networks, Inc.(b)

     18,287        377,078  

Fabrinet (Thailand)(b)

     5,144        797,320  

Harmonic, Inc.(b)(c)

     47,120        508,425  

Kulicke & Soffa Industries, Inc. (Singapore)

     19,150        796,831  

MaxLinear, Inc.(b)

     11,441        173,903  

NetScout Systems, Inc.(b)

     10,194        222,535  

Photronics, Inc.(b)

     49,215        903,587  

Plexus Corp.(b)(c)

     5,039        495,434  

Progress Software Corp.

     9,855        506,350  

Rambus, Inc.(b)

     28,858        1,567,855  

SPS Commerce, Inc.(b)

     2,535        406,462  

Veeco Instruments, Inc.(b)(c)

     20,903        500,418  
     

 

 

 
        14,720,198  
     

 

 

 

Materials-3.70%

 

Hawkins, Inc.(c)

     22,498        1,292,060  

Innospec, Inc.

     4,561        446,978  

Kaiser Aluminum Corp.

     9,710        551,528  

Livent Corp.(b)(c)

     16,822        245,433  

Myers Industries, Inc.

     32,816        550,324  
     

 

 

 
        3,086,323  
     

 

 

 

Real Estate-1.66%

 

Marcus & Millichap, Inc.(c)

     17,264        495,477  

St. Joe Co. (The)

     19,056        888,772  
     

 

 

 
        1,384,249  
     

 

 

 
         Shares              Value        

Utilities-0.82%

 

SJW Group

     5,322      $ 332,518