Form NPORT-P INVESCO EXCHANGE-TRADED For: Jul 31

September 28, 2021 6:07 AM EDT

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    NPORT-P
    false
    
      
      
        
          0001209466
          XXXXXXXX
        
      
      
      
      
        S000013110
        C000035326
      
      
      
    
  
  
    
      Invesco Exchange-Traded Fund Trust
      811-21265
      0001209466
      QPT4TMG79RF3UWNU0R52
      3500 Lacey Road
      Suite 700
      Downers Grove
      
      60515
      800-983-0903
      Invesco DWA Technology Momentum ETF
      S000013110
      549300P2YHV2W6QKYT38
      2022-04-30
      2021-07-31
      N
    
    
      298121092.23
      20032138.66
      278088953.57
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      
        
        
        
      
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
    
    
      
        Entegris, Inc.
        IYX6OWO7BT5DKO3BYG52
        Entegris, Inc.
        29362U104
        
          
        
        77379.00000000
        NS
        USD
        9335002.56000000
        3.356840478616
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Crowdstrike Holdings, Inc.
        549300YBY08K9KM4HX32
        Crowdstrike Holdings, Inc., Class A
        22788C105
        
          
        
        37917.00000000
        NS
        USD
        9616130.37000000
        3.457933242781
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NVIDIA Corp.
        549300S4KLFTLO7GSQ80
        NVIDIA Corp.
        67066G104
        
          
        
        47368.00000000
        NS
        USD
        9236286.32000000
        3.321342398332
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Intuit, Inc.
        VI90HBPH7XSFMB9E4M29
        Intuit, Inc.
        461202103
        
          
        
        26125.00000000
        NS
        USD
        13845466.25000000
        4.978790445379
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Government & Agency Portfolio
        5493007T1J7WZ5QI1A47
        Invesco Government & Agency Portfolio, Institutional Class
        825252885
        
          
        
        372624.58000000
        NS
        USD
        372624.58000000
        0.133994743486
        Long
        STIV
        RF
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NCR Corp.
        549300YKTY8JX1DV2R67
        NCR Corp.
        62886E108
        
          
        
        100250.00000000
        NS
        USD
        4451100.00000000
        1.600602951990
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Conduent, Inc.
        549300SFJ2D2CYY6CQ11
        Conduent, Inc.
        206787103
        
          
        
        509655.00000000
        NS
        USD
        3419785.05000000
        1.229745017232
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Bill.Com Holdings, Inc.
        549300IBF9VZZIGOZW63
        Bill.Com Holdings, Inc.
        090043100
        
          
        
        46584.00000000
        NS
        USD
        9634502.88000000
        3.464539945336
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CommScope Holding Co., Inc.
        254900AW4CEPCQWSRI58
        CommScope Holding Co., Inc.
        20337X109
        
          
        
        215295.00000000
        NS
        USD
        4555642.20000000
        1.638196030988
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EPAM Systems, Inc.
        549300XCR4R530HJP604
        EPAM Systems, Inc.
        29414B104
        
          
        
        23048.00000000
        NS
        USD
        12902270.40000000
        4.639619889379
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mitek Systems, Inc.
        549300ABZAQ3R25XG118
        Mitek Systems, Inc.
        606710200
        
          
        
        158826.00000000
        NS
        USD
        3511642.86000000
        1.262776825515
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Insight Enterprises, Inc.
        529900S8991TYW6YP792
        Insight Enterprises, Inc.
        45765U103
        
          
        
        40230.00000000
        NS
        USD
        4038287.40000000
        1.452156710346
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Workiva, Inc.
        529900RTOQ8GRWHY1O58
        Workiva, Inc.
        98139A105
        
          
        
        50314.00000000
        NS
        USD
        6529247.78000000
        2.347899007198
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Invesco Private Government Fund
        N/A
        Invesco Private Government Fund
        N/A
        
          
        
        5852615.71000000
        NS
        USD
        5852615.71000000
        2.104584031428
        Long
        STIV
        PF
        US
        N
        
        2
        
          
          N
          N
        
      
      
        SYNNEX Corp.
        5493004HI6PFLF46NS53
        SYNNEX Corp.
        87162W100
        
          
        
        37008.00000000
        NS
        USD
        4423936.32000000
        1.590834969604
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HubSpot, Inc.
        529900BLNVEW0MVKJB37
        HubSpot, Inc.
        443573100
        
          
        
        15990.00000000
        NS
        USD
        9530359.80000000
        3.427090388759
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Fortinet, Inc.
        549300O0QJWDBAS0QX03
        Fortinet, Inc.
        34959E109
        
          
        
        36762.00000000
        NS
        USD
        10008086.88000000
        3.598879693536
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Extreme Networks, Inc.
        549300WRECW11X94UB57
        Extreme Networks, Inc.
        30226D106
        
          
        
        358127.00000000
        NS
        USD
        3942978.27000000
        1.417883817167
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Calix, Inc.
        5299002RQRZ4SXSCSJ58
        Calix, Inc.
        13100M509
        
          
        
        130465.00000000
        NS
        USD
        6103152.70000000
        2.194676423371
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Brooks Automation, Inc.
        35ZN6X1ANPH25YN32Y17
        Brooks Automation, Inc.
        114340102
        
          
        
        77844.00000000
        NS
        USD
        6928894.44000000
        2.491610814111
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Perficient, Inc.
        549300HTBXKL2755T650
        Perficient, Inc.
        71375U101
        
          
        
        54528.00000000
        NS
        USD
        5141445.12000000
        1.848849101697
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Invesco Private Prime Fund
        N/A
        Invesco Private Prime Fund
        N/A
        
          
        
        13650643.69000000
        NS
        USD
        13656104.07000000
        4.910696341831
        Long
        STIV
        PF
        US
        N
        
        2
        
          
          N
          N
        
      
      
        Applied Materials, Inc.
        41BNNE1AFPNAZELZ6K07
        Applied Materials, Inc.
        038222105
        
          
        
        65005.00000000
        NS
        USD
        9096149.65000000
        3.270949648746
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Plantronics, Inc.
        5493006O3W5M472F6668
        Plantronics, Inc.
        727493108
        
          
        
        139963.00000000
        NS
        USD
        4365445.97000000
        1.569802005422
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Avid Technology, Inc.
        549300PQGW3DXKJTQ914
        Avid Technology, Inc.
        05367P100
        
          
        
        164397.00000000
        NS
        USD
        6146803.83000000
        2.210373246074
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Zebra Technologies Corp.
        PO0I32GKZ3HZMMDPZZ08
        Zebra Technologies Corp., Class A
        989207105
        
          
        
        11953.00000000
        NS
        USD
        6603793.44000000
        2.374705415379
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Onto Innovation, Inc.
        254900RXZVN73CHOO062
        Onto Innovation, Inc.
        683344105
        
          
        
        62364.00000000
        NS
        USD
        4370469.12000000
        1.571608315934
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sprout Social, Inc.
        N/A
        Sprout Social, Inc., Class A
        85209W109
        
          
        
        65980.00000000
        NS
        USD
        5861663.20000000
        2.107837483204
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Microsoft Corp.
        INR2EJN1ERAN0W5ZP974
        Microsoft Corp.
        594918104
        
          
        
        28254.00000000
        NS
        USD
        8049847.14000000
        2.894702229865
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DXC Technology Co.
        549300DOVZ3EDJB7O259
        DXC Technology Co.
        23355L106
        
          
        
        173170.00000000
        NS
        USD
        6923336.60000000
        2.489612230590
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Nutanix, Inc.
        549300X7J6E8TKVIXW09
        Nutanix, Inc., Class A
        67059N108
        
          
        
        153963.00000000
        NS
        USD
        5545747.26000000
        1.994235006031
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CDW Corp.
        9845001B052ABF0B6755
        CDW Corp.
        12514G108
        
          
        
        41871.00000000
        NS
        USD
        7677047.85000000
        2.760644661157
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Yelp, Inc.
        5299007OU2DOSXPQBO35
        Yelp, Inc.
        985817105
        
          
        
        102852.00000000
        NS
        USD
        3846664.80000000
        1.383249766169
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NXP Semiconductors N.V.
        724500M9BY5293JDF951
        NXP Semiconductors N.V.
        N6596X109
        
          
        
        30623.00000000
        NS
        USD
        6320280.97000000
        2.272755134234
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          
        
      
      
        Western Digital Corp.
        549300QQXOOYEF89IC56
        Western Digital Corp.
        958102105
        
          
        
        88847.00000000
        NS
        USD
        5768835.71000000
        2.074456980740
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Qorvo, Inc.
        254900YAUJV2EUEVBR11
        Qorvo, Inc.
        74736K101
        
          
        
        31842.00000000
        NS
        USD
        6036924.78000000
        2.170861050933
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        DocuSign Inc
        549300Q7PVDWRZ39JG09
        DocuSign Inc
        256163106
        
          
        
        37666.00000000
        NS
        USD
        11225974.64000000
        4.036828682292
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CommVault Systems, Inc.
        65T5VRP62VXG39YFML83
        CommVault Systems, Inc.
        204166102
        
          
        
        49534.00000000
        NS
        USD
        3744275.06000000
        1.346430705690
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MongoDB, Inc.
        549300TPTG69WKWE1Z37
        MongoDB, Inc.
        60937P106
        
          
        
        17709.00000000
        NS
        USD
        6356114.28000000
        2.285640691010
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        TTEC Holdings, Inc.
        GTJS1N8S8I28A7L4WG97
        TTEC Holdings, Inc.
        89854H102
        
          
        
        34352.00000000
        NS
        USD
        3589784.00000000
        1.290876158119
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lam Research Corp.
        549300I4GMO6D34U1T02
        Lam Research Corp.
        512807108
        
          
        
        16292.00000000
        NS
        USD
        10384683.72000000
        3.734302850467
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Altair Engineering, Inc.
        549300FJ89HZ6GU9S994
        Altair Engineering, Inc., Class A
        021369103
        
          
        
        43740.00000000
        NS
        USD
        3051302.40000000
        1.097239700041
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MicroVision, Inc.
        5299001A8NIHHA9KOY43
        MicroVision, Inc.
        594960304
        
          
        
        342391.00000000
        NS
        USD
        4714724.07000000
        1.695401420831
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          
        
      
      
        Cloudflare, Inc.
        5493007DY18BGNLDWU14
        Cloudflare, Inc., Class A
        18915M107
        
          
        
        95851.00000000
        NS
        USD
        11370804.13000000
        4.088908956657
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2021-08-30
      Invesco Exchange-Traded Fund Trust
      Sheri Morris
      Sheri Morris
      Vice President
    
  
  XXXX



Schedule of Investments(a)
Invesco DWA Basic Materials Momentum ETF (PYZ)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.02%
Aluminum-7.43%
Alcoa Corp.(b)

  219,965   $8,831,595
Arconic Corp.(b)

  195,911   7,041,041
        15,872,636
Commodity Chemicals-5.83%
Cabot Corp.

  80,657   4,440,974
Olin Corp.

  170,158   8,002,531
        12,443,505
Construction Materials-2.81%
Summit Materials, Inc., Class A(b)

  178,638   6,002,237
Copper-3.91%
Freeport-McMoRan, Inc.

  219,050   8,345,805
Diversified Chemicals-3.06%
Chemours Co. (The)

  196,728   6,541,206
Fertilizers & Agricultural Chemicals-6.52%
Corteva, Inc.

  156,498   6,694,985
Mosaic Co. (The)

  231,666   7,234,929
        13,929,914
Forest Products-3.21%
Louisiana-Pacific Corp.

  123,792   6,863,028
Life Sciences Tools & Services-3.60%
Avantor, Inc.(b)

  204,458   7,683,532
Metal & Glass Containers-2.47%
O-I Glass, Inc.(b)

  357,153   5,282,293
Oil & Gas Refining & Marketing-1.88%
Alto Ingredients, Inc.(b)(c)

  756,824   4,011,167
Paper Packaging-3.82%
Avery Dennison Corp.

  38,785   8,171,224
Silver-2.16%
Hecla Mining Co.(c)

  689,322   4,611,564
Specialty Chemicals-23.65%
Amyris, Inc.(b)(c)

  427,654   6,235,195
Avient Corp.

  135,028   6,551,559
Celanese Corp.

  53,708   8,366,095
Element Solutions, Inc.

  252,677   5,910,115
Ingevity Corp.(b)

  74,193   6,301,953
Innospec, Inc.

  64,361   5,692,731
Livent Corp.(b)(c)

  345,788   6,746,324
Minerals Technologies, Inc.

  58,720   4,710,518
        50,514,490
  Shares   Value
Steel-29.67%
Allegheny Technologies, Inc.(b)(c)

  284,018   $5,830,890
Cleveland-Cliffs, Inc.(b)(c)

  381,258   9,531,450
Commercial Metals Co.

  180,136   5,908,461
Nucor Corp.

  80,956   8,421,043
Reliance Steel & Aluminum Co.

  38,369   6,029,688
Schnitzer Steel Industries, Inc., Class A(c)

  108,450   5,684,949
Steel Dynamics, Inc.

  113,965   7,345,044
TimkenSteel Corp.(b)(c)

  414,501   5,525,298
United States Steel Corp.(c)

  343,707   9,101,362
        63,378,185
Total Common Stocks & Other Equity Interests

(Cost $200,893,859)

  213,650,786
Money Market Funds-0.11%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $228,683)

  228,683   228,683
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.13%

(Cost $201,122,542)

  213,879,469
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-19.06%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  12,216,831   12,216,831
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  28,494,541   28,505,939
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $40,722,770)

  40,722,770
TOTAL INVESTMENTS IN SECURITIES-119.19%

(Cost $241,845,312)

  254,602,239
OTHER ASSETS LESS LIABILITIES-(19.19)%

  (40,988,537)
NET ASSETS-100.00%

  $213,613,702
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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $127,943   $368,374   $(267,634)   $-   $-   $228,683   $13
See accompanying notes which are an integral part of this schedule.

Invesco DWA Basic Materials Momentum ETF (PYZ)—(continued)
July 31, 2021
(Unaudited)
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $6,678,994   $34,222,374   $(28,684,537)   $-   $-   $12,216,831   $275*
Invesco Private Prime Fund 10,018,491   59,764,054   (41,276,606)   -   -   28,505,939   4,426*
Total $16,825,428   $94,354,802   $(70,228,777)   $-   $-   $40,951,453   $4,714
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.02%
Apparel Retail-18.97%
Abercrombie & Fitch Co., Class A(b)

  41,659   $1,575,127
American Eagle Outfitters, Inc.(c)

  90,839   3,131,220
Bath & Body Works, Inc.

  57,249   4,583,928
Boot Barn Holdings, Inc.(b)

  25,042   2,164,130
Burlington Stores, Inc.(b)

  12,580   4,211,784
Caleres, Inc.

  37,095   917,730
Chico’s FAS, Inc.(b)

  215,823   1,333,786
Children’s Place, Inc. (The)(b)(c)

  22,586   1,904,677
Gap, Inc. (The)

  91,698   2,674,831
        22,497,213
Apparel, Accessories & Luxury Goods-1.96%
G-III Apparel Group Ltd.(b)

  28,091   838,797
Kontoor Brands, Inc.

  26,776   1,482,855
        2,321,652
Auto Parts & Equipment-3.30%
Dana, Inc.

  58,267   1,407,731
Tenneco, Inc., Class A(b)

  68,175   1,186,927
XPEL, Inc.(b)(d)

  14,264   1,320,846
        3,915,504
Automotive Retail-4.53%
Carvana Co.(b)(c)

  15,927   5,376,318
Broadcasting-1.33%
iHeartMedia, Inc., Class A(b)

  61,121   1,579,978
Casinos & Gaming-14.55%
Boyd Gaming Corp.(b)

  29,804   1,698,828
Caesars Entertainment, Inc.(b)

  56,136   4,904,041
Everi Holdings, Inc.(b)

  111,570   2,531,523
Golden Entertainment, Inc.(b)

  25,579   1,164,100
MGM Resorts International

  67,190   2,521,641
Red Rock Resorts, Inc., Class A(b)

  55,718   2,195,289
Scientific Games Corp.(b)

  36,252   2,237,111
        17,252,533
Computer & Electronics Retail-0.77%
Conn’s, Inc.(b)

  40,746   906,191
Consumer Electronics-1.10%
GoPro, Inc., Class A(b)(c)

  127,456   1,305,149
Department Stores-2.12%
Dillard’s, Inc., Class A

  13,689   2,508,783
Education Services-1.06%
Houghton Mifflin Harcourt Co.(b)

  110,975   1,256,237
Footwear-4.72%
Crocs, Inc.(b)

  41,169   5,591,162
General Merchandise Stores-2.42%
Target Corp.

  10,970   2,863,718
Homebuilding-1.53%
Beazer Homes USA, Inc.(b)

  43,954   802,600
M/I Homes, Inc.(b)

  15,623   1,010,964
        1,813,564
Homefurnishing Retail-3.71%
RH(b)(c)

  6,619   4,395,545
Hotels, Resorts & Cruise Lines-0.67%
Playa Hotels & Resorts N.V.(b)

  118,066   789,862
  Shares   Value
Internet & Direct Marketing Retail-6.09%
CarParts.com, Inc.(b)(c)

  155,390   $2,736,418
Revolve Group, Inc.(b)(c)

  64,502   4,489,984
        7,226,402
Leisure Facilities-1.39%
SeaWorld Entertainment, Inc.(b)

  34,830   1,651,290
Leisure Products-6.87%
Callaway Golf Co.(b)

  91,113   2,886,460
Vista Outdoor, Inc.(b)

  54,967   2,220,117
YETI Holdings, Inc.(b)

  31,605   3,044,510
        8,151,087
Movies & Entertainment-6.43%
AMC Entertainment Holdings, Inc., Class A(b)(c)

  115,308   4,268,702
Roku, Inc.(b)

  7,834   3,355,381
        7,624,083
Publishing-0.92%
Gannett Co., Inc.(b)

  189,588   1,093,923
Restaurants-8.23%
Bloomin’ Brands, Inc.(b)

  49,864   1,253,082
Domino’s Pizza, Inc.

  13,311   6,994,798
Jack in the Box, Inc.

  13,913   1,514,569
        9,762,449
Specialty Stores-6.55%
Dick’s Sporting Goods, Inc.(c)

  29,630   3,085,668
Hibbett, Inc.

  28,560   2,532,130
Signet Jewelers Ltd.

  33,429   2,150,822
        7,768,620
Technology Hardware, Storage & Peripherals-0.80%
Turtle Beach Corp.(b)(c)

  30,804   951,844
Total Common Stocks & Other Equity Interests

(Cost $107,964,558)

  118,603,107
Money Market Funds-0.18%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(e)(f)

(Cost $217,295)

  217,295   217,295
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.20%

(Cost $108,181,853)

  118,820,402
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-23.70%
Invesco Private Government Fund, 0.02%(e)(f)(g)

  8,413,649   8,413,649
Invesco Private Prime Fund, 0.12%(e)(f)(g)

  19,680,093   19,687,966
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $28,101,614)

  28,101,615
TOTAL INVESTMENTS IN SECURITIES-123.90%

(Cost $136,283,467)

  146,922,017
OTHER ASSETS LESS LIABILITIES-(23.90)%

  (28,341,756)
NET ASSETS-100.00%

  $118,580,261
See accompanying notes which are an integral part of this schedule.

Invesco DWA Consumer Cyclicals Momentum ETF (PEZ)—(continued)
July 31, 2021
(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 July 31, 2021.
(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 value of this security at July 31, 2021 represented 1.11% of the Fund’s Net Assets.
(e) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $161,516   $386,877   $(331,098)   $-   $-   $217,295   $11
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 8,926,332   28,371,478   (28,884,161)   -   -   8,413,649   204*
Invesco Private Prime Fund 13,869,648   54,174,726   (48,356,408)   -   -   19,687,966   3,738*
Total $22,957,496   $82,933,081   $(77,571,667)   $-   $-   $28,318,910   $3,953
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Consumer Staples Momentum ETF (PSL)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.92%
Agricultural Products-3.50%
Bunge Ltd.

  49,644   $3,853,864
Data Processing & Outsourced Services-2.25%
MoneyGram International, Inc.(b)

  239,858   2,480,132
Distillers & Vintners-3.16%
Brown-Forman Corp., Class B

  49,053   3,478,839
Food Distributors-10.19%
Chefs’ Warehouse, Inc. (The)(b)(c)

  67,070   1,939,664
Sysco Corp.

  50,261   3,729,366
United Natural Foods, Inc.(b)

  77,204   2,556,997
US Foods Holding Corp.(b)

  87,177   2,993,658
        11,219,685
Food Retail-6.02%
Casey’s General Stores, Inc.

  16,003   3,163,953
Kroger Co. (The)

  85,132   3,464,873
        6,628,826
Home Furnishings-4.96%
Tempur Sealy International, Inc.

  126,306   5,465,261
Household Products-6.54%
Procter & Gamble Co. (The)

  27,628   3,929,531
Spectrum Brands Holdings, Inc.

  37,464   3,272,480
        7,202,011
Industrial Machinery-3.30%
Snap-on, Inc.

  16,685   3,636,996
Packaged Foods & Meats-14.31%
Freshpet, Inc.(b)

  23,532   3,446,261
Hain Celestial Group, Inc. (The)(b)

  62,403   2,490,504
Kraft Heinz Co. (The)

  80,979   3,115,262
Lamb Weston Holdings, Inc.

  28,249   1,886,186
Lancaster Colony Corp.

  9,836   1,946,249
Mondelez International, Inc., Class A

  45,539   2,880,797
        15,765,259
Personal Products-17.61%
Coty, Inc., Class A(b)(c)

  372,875   3,255,199
Edgewell Personal Care Co.

  53,176   2,184,470
elf Beauty, Inc.(b)

  79,323   2,190,108
Estee Lauder Cos., Inc. (The), Class A

  17,084   5,703,151
Medifast, Inc.

  14,994   4,280,937
USANA Health Sciences, Inc.(b)

  18,759   1,787,170
        19,401,035
  Shares   Value
Soft Drinks-12.74%
Keurig Dr Pepper, Inc.

  144,332   $5,081,930
Monster Beverage Corp.(b)

  58,260   5,495,083
PepsiCo, Inc.

  21,982   3,450,075
        14,027,088
Specialized Consumer Services-9.11%
H&R Block, Inc.

  98,202   2,410,859
Service Corp. International

  82,657   5,165,236
WW International, Inc.(b)(c)

  80,003   2,459,292
        10,035,387
Tobacco-6.23%
22nd Century Group, Inc.(b)(c)

  641,428   2,058,984
Philip Morris International, Inc.

  29,916   2,994,292
Vector Group Ltd.

  135,128   1,805,310
        6,858,586
Total Common Stocks & Other Equity Interests

(Cost $96,682,731)

  110,052,969
Money Market Funds-0.26%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $284,064)

  284,064   284,064
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.18%

(Cost $96,966,795)

  110,337,033
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-4.06%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  1,322,528   1,322,528
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  3,145,051   3,146,309
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $4,468,837)

  4,468,837
TOTAL INVESTMENTS IN SECURITIES-104.24%

(Cost $101,435,632)

  114,805,870
OTHER ASSETS LESS LIABILITIES-(4.24)%

  (4,671,936)
NET ASSETS-100.00%

  $110,133,934
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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $118,265   $1,057,179   $(891,380)   $-   $-   $284,064   $12
See accompanying notes which are an integral part of this schedule.

Invesco DWA Consumer Staples Momentum ETF (PSL)—(continued)
July 31, 2021
(Unaudited)
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $5,502,892   $8,757,007   $(12,937,371)   $-   $-   $1,322,528   $76*
Invesco Private Prime Fund 8,254,338   13,114,867   (18,222,896)   -   -   3,146,309   1,506*
Total $13,875,495   $22,929,053   $(32,051,647)   $-   $-   $4,752,901   $1,594
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Energy Momentum ETF (PXI)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.97%
Oil & Gas Drilling-5.38%
Nabors Industries Ltd.(b)(c)

  58,240   $5,096,583
Patterson-UTI Energy, Inc.

  497,851   3,992,765
        9,089,348
Oil & Gas Equipment & Services-8.64%
Cactus, Inc., Class A

  82,318   2,966,741
ChampionX Corp.(b)

  207,142   4,813,980
Core Laboratories N.V.(c)

  110,173   3,675,371
Oceaneering International, Inc.(b)

  236,196   3,131,959
        14,588,051
Oil & Gas Exploration & Production-73.59%
Antero Resources Corp.(b)

  511,542   6,956,971
Bonanza Creek Energy, Inc.(c)

  101,540   3,906,244
Callon Petroleum Co.(b)(c)

  155,103   6,104,854
Centennial Resource Development, Inc., Class A(b)(c)

  1,070,712   5,578,410
Continental Resources, Inc.(c)

  136,926   4,676,023
Devon Energy Corp.

  233,523   6,034,234
Diamondback Energy, Inc.

  74,360   5,735,387
EOG Resources, Inc.

  70,854   5,162,422
Hess Corp.

  71,815   5,489,539
Laredo Petroleum, Inc.(b)(c)

  86,634   4,770,068
Magnolia Oil & Gas Corp., Class A(b)

  290,496   4,066,944
Marathon Oil Corp.

  460,187   5,333,567
Matador Resources Co.

  224,412   6,934,331
Meta Materials, Inc.(b)(c)

  405,114   1,417,899
Murphy Oil Corp.(c)

  177,821   3,860,494
Northern Oil and Gas, Inc.

  191,958   3,315,115
Ovintiv, Inc.

  296,894   7,618,300
PDC Energy, Inc.

  127,106   5,027,042
Penn Virginia Corp.(b)

  138,101   2,553,487
Pioneer Natural Resources Co.

  30,630   4,452,683
Range Resources Corp.(b)

  358,233   5,455,889
SM Energy Co.

  383,010   7,162,287
Southwestern Energy Co.(b)

  1,506,169   7,094,056
Talos Energy, Inc.(b)

  181,402   2,093,379
Whiting Petroleum Corp.(b)

  74,576   3,497,614
        124,297,239
  Shares   Value
Oil & Gas Refining & Marketing-8.34%
Green Plains, Inc.(b)

  190,650   $6,741,384
Marathon Petroleum Corp.

  90,987   5,024,302
PBF Energy, Inc., Class A(b)

  253,770   2,327,071
        14,092,757
Oil & Gas Storage & Transportation-4.02%
Targa Resources Corp.

  161,160   6,786,448
Total Common Stocks & Other Equity Interests

(Cost $171,144,037)

  168,853,843
Money Market Funds-0.21%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $351,121)

  351,121   351,121
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.18%

(Cost $171,495,158)

  169,204,964
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-17.28%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  8,759,630   8,759,630
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  20,430,964   20,439,136
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $29,198,766)

  29,198,766
TOTAL INVESTMENTS IN SECURITIES-117.46%

(Cost $200,693,924)

  198,403,730
OTHER ASSETS LESS LIABILITIES-(17.46)%

  (29,496,719)
NET ASSETS-100.00%

  $168,907,011
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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $199,021   $922,905   $(770,805)   $-   $-   $351,121   $17
See accompanying notes which are an integral part of this schedule.

Invesco DWA Energy Momentum ETF (PXI)—(continued)
July 31, 2021
(Unaudited)
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund $9,115,654   $37,867,849   $(38,223,873)   $-   $-   $8,759,630   $214*
Invesco Private Prime Fund 13,673,482   51,642,120   (44,876,466)   -   -   20,439,136   3,673*
Total $22,988,157   $90,432,874   $(83,871,144)   $-   $-   $29,549,887   $3,904
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Financial Momentum ETF (PFI)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-99.99%
Asset Management & Custody Banks-18.39%
Ameriprise Financial, Inc.

  10,624   $2,736,317
Blackstone Group, Inc. (The), Class A

  27,358   3,153,557
Carlyle Group, Inc. (The)

  16,747   845,221
KKR & Co., Inc., Class A

  29,816   1,901,068
T. Rowe Price Group, Inc.

  6,831   1,394,617
Virtus Investment Partners, Inc.

  1,565   432,144
        10,462,924
Consumer Finance-16.04%
Ally Financial, Inc.

  30,319   1,557,184
American Express Co.

  9,692   1,652,777
Discover Financial Services

  14,075   1,749,804
LendingClub Corp.(b)

  50,497   1,232,127
Navient Corp.

  36,354   742,712
OneMain Holdings, Inc.

  14,410   879,010
SLM Corp.

  69,635   1,311,227
        9,124,841
Diversified Banks-6.82%
Bank of America Corp.

  36,833   1,412,914
JPMorgan Chase & Co.

  16,254   2,467,032
        3,879,946
Diversified REITs-1.50%
DigitalBridge Group, Inc.(b)(c)

  122,778   854,535
Investment Banking & Brokerage-13.92%
B. Riley Financial, Inc.

  17,543   1,185,205
Evercore, Inc., Class A

  5,160   682,152
LPL Financial Holdings, Inc.

  8,424   1,188,121
Morgan Stanley

  17,264   1,656,999
Piper Sandler Cos.

  2,895   355,188
Raymond James Financial, Inc.

  22,005   2,849,207
        7,916,872
Life & Health Insurance-2.30%
Lincoln National Corp.

  21,270   1,310,657
Mortgage REITs-8.33%
Apollo Commercial Real Estate Finance, Inc.

  27,321   415,826
Arbor Realty Trust, Inc.

  51,329   938,294
Ares Commercial Real Estate Corp.

  27,854   420,038
Ellington Financial, Inc.

  28,705   521,857
Ladder Capital Corp.

  32,650   372,863
MFA Financial, Inc.

  127,250   594,257
New York Mortgage Trust, Inc.

  111,547   487,460
Redwood Trust, Inc.

  41,210   489,163
Two Harbors Investment Corp.(c)

  77,890   499,275
        4,739,033
Multi-line Insurance-1.41%
American Financial Group, Inc.

  6,349   803,085
Paper Packaging-1.11%
Ranpak Holdings Corp.(b)

  24,567   629,407
Property & Casualty Insurance-0.97%
HCI Group, Inc.(c)

  5,479   550,530
Real Estate Services-2.84%
Newmark Group, Inc., Class A

  36,591   471,292
Realogy Holdings Corp.(b)

  64,682   1,146,165
        1,617,457
  Shares   Value
Regional Banks-19.42%
Bancorp, Inc. (The)(b)

  45,902   $1,072,730
Customers Bancorp, Inc.(b)

  12,017   435,256
First Bancorp

  73,771   894,842
First Financial Bankshares, Inc.

  16,878   824,322
First Republic Bank

  8,106   1,580,832
Pinnacle Financial Partners, Inc.

  11,416   1,022,988
ServisFirst Bancshares, Inc.

  8,697   618,183
Signature Bank

  6,265   1,421,967
SVB Financial Group(b)

  3,464   1,905,061
Western Alliance Bancorporation

  13,664   1,268,292
        11,044,473
Retail REITs-5.53%
Macerich Co. (The)(c)

  83,374   1,358,996
Retail Properties of America, Inc., Class A

  33,680   424,705
SITE Centers Corp.

  43,158   684,486
Tanger Factory Outlet Centers, Inc.

  39,425   676,927
        3,145,114
Thrifts & Mortgage Finance-1.41%
Meta Financial Group, Inc.

  7,514   373,446
Walker & Dunlop, Inc.

  4,122   426,544
        799,990
Total Common Stocks & Other Equity Interests

(Cost $50,396,465)

  56,878,864
Money Market Funds-0.29%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $162,204)

  162,204   162,204
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.28%

(Cost $50,558,669)

  57,041,068
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-3.50%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  598,092   598,092
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  1,394,989   1,395,547
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $1,993,639)

  1,993,639
TOTAL INVESTMENTS IN SECURITIES-103.78%

(Cost $52,552,308)

  59,034,707
OTHER ASSETS LESS LIABILITIES-(3.78)%

  (2,151,763)
NET ASSETS-100.00%

  $56,882,944
See accompanying notes which are an integral part of this schedule.

Invesco DWA Financial Momentum ETF (PFI)—(continued)
July 31, 2021
(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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $182,366   $611,600   $(631,762)   $-   $-   $162,204   $10
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 832,889   4,436,261   (4,671,058)   -   -   598,092   30*
Invesco Private Prime Fund 1,249,334   9,452,632   (9,306,419)   -   -   1,395,547   582*
Total $2,264,589   $14,500,493   $(14,609,239)   $-   $-   $2,155,843   $622
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Healthcare Momentum ETF (PTH)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.04%
Biotechnology-36.11%
Anavex Life Sciences Corp.(b)(c)

  486,296   $8,729,013
Apellis Pharmaceuticals, Inc.(b)(c)

  84,325   5,395,957
Arrowhead Pharmaceuticals, Inc.(b)(c)

  72,897   5,051,033
Atossa Therapeutics, Inc.(b)(c)

  1,439,782   4,304,948
Avid Bioservices, Inc.(b)(c)

  191,311   4,907,127
BioCryst Pharmaceuticals, Inc.(b)(c)

  548,607   8,843,545
CareDx, Inc.(b)(c)

  108,262   9,098,338
Celcuity, Inc.(b)(c)

  171,014   3,368,976
Celldex Therapeutics, Inc.(b)(c)

  178,437   7,806,619
Denali Therapeutics, Inc.(b)(c)

  121,235   6,186,622
Dicerna Pharmaceuticals, Inc.(b)

  157,859   5,921,291
Greenwich Lifesciences, Inc.(b)(c)

  132,440   5,227,407
Horizon Therapeutics PLC(b)

  241,792   24,184,036
KalVista Pharmaceuticals, Inc.(b)

  144,583   2,911,902
Moderna, Inc.(b)

  120,890   42,746,704
Morphic Holding, Inc.(b)(c)

  69,526   4,006,088
Natera, Inc.(b)(c)

  160,345   18,362,709
Prothena Corp. PLC (Ireland)(b)(c)

  218,373   10,940,487
Replimune Group, Inc.(b)(c)

  103,174   3,376,885
Verastem, Inc.(b)(c)

  833,294   2,691,540
        184,061,227
Health Care Distributors-2.37%
Owens & Minor, Inc.(c)

  261,049   12,073,516
Health Care Equipment-17.19%
AtriCure, Inc.(b)

  88,625   7,485,267
Axonics, Inc.(b)(c)

  90,258   6,133,031
Cutera, Inc.(b)(c)

  85,836   4,459,180
Envista Holdings Corp.(b)

  253,887   10,937,452
Heska Corp.(b)(c)

  16,638   4,004,767
IDEXX Laboratories, Inc.(b)

  36,069   24,473,899
Novocure Ltd.(b)(c)

  61,018   9,397,382
Shockwave Medical, Inc.(b)

  113,771   20,706,322
        87,597,300
Health Care Facilities-9.46%
Acadia Healthcare Co., Inc.(b)(c)

  127,600   7,875,472
Brookdale Senior Living, Inc.(b)

  468,290   3,521,541
Joint Corp. (The)(b)

  173,002   13,665,428
Select Medical Holdings Corp.

  127,683   5,037,094
Surgery Partners, Inc.(b)

  192,256   10,489,488
Tenet Healthcare Corp.(b)

  106,324   7,638,316
        48,227,339
Health Care Services-6.54%
Apollo Medical Holdings, Inc.(b)(c)

  75,938   6,710,641
Castle Biosciences, Inc.(b)

  104,905   7,327,614
Community Health Systems, Inc.(b)

  693,139   9,232,612
MEDNAX, Inc.(b)(c)

  192,892   5,617,015
Tivity Health, Inc.(b)

  177,752   4,458,020
        33,345,902
Health Care Supplies-6.52%
Align Technology, Inc.(b)

  20,004   13,918,783
  Shares   Value
Health Care Supplies-(continued)
SI-BONE, Inc.(b)

  114,517   $3,474,446
STAAR Surgical Co.(b)

  123,894   15,848,521
        33,241,750
Health Care Technology-3.21%
Allscripts Healthcare Solutions, Inc.(b)(c)

  308,164   5,263,441
Inovalon Holdings, Inc., Class A(b)(c)

  108,097   4,094,714
Omnicell, Inc.(b)

  47,843   7,009,000
        16,367,155
Life Sciences Tools & Services-12.37%
Bio-Techne Corp.

  28,952   13,961,812
Charles River Laboratories International, Inc.(b)

  38,962   15,854,417
IQVIA Holdings, Inc.(b)

  43,891   10,871,801
Medpace Holdings, Inc.(b)

  56,694   9,974,742
Mettler-Toledo International, Inc.(b)

  8,401   12,380,638
        63,043,410
Managed Health Care-1.08%
Progyny, Inc.(b)(c)

  99,110   5,519,436
Pharmaceuticals-5.19%
Arvinas, Inc.(b)(c)

  95,639   9,669,103
Cassava Sciences, Inc.(b)(c)

  132,998   9,247,351
Intra-Cellular Therapies, Inc.(b)

  219,713   7,542,747
        26,459,201
Total Common Stocks & Other Equity Interests

(Cost $463,219,184)

  509,936,236
Money Market Funds-0.13%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $665,373)

  665,373   665,373
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.17%

(Cost $463,884,557)

  510,601,609
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-20.41%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  31,201,712   31,201,712
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  72,774,884   72,803,995
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $104,005,706)

  104,005,707
TOTAL INVESTMENTS IN SECURITIES-120.58%

(Cost $567,890,263)

  614,607,316
OTHER ASSETS LESS LIABILITIES-(20.58)%

  (104,878,292)
NET ASSETS-100.00%

  $509,729,024
See accompanying notes which are an integral part of this schedule.

Invesco DWA Healthcare Momentum ETF (PTH)—(continued)
July 31, 2021
(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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income
Investments in Affiliated Money Market Funds:                          
Invesco Government & Agency Portfolio, Institutional Class $672,989   $2,944,424   $(2,952,040)   $-   $-   $665,373   $41
Investments Purchased with Cash Collateral from Securities on Loan:                          
Invesco Private Government Fund 42,212,390   101,822,101   (112,832,779)   -   -   31,201,712   1,015*
Invesco Private Prime Fund 63,489,211   200,514,364   (191,199,580)   -   -   72,803,995   18,412*
Total $106,374,590   $305,280,889   $(306,984,399)   $-   $-   $104,671,080   $19,468
    
* Represents the income earned on the investment of cash collateral. 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 July 31, 2021.
(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.  
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco DWA Industrials Momentum ETF (PRN)
July 31, 2021
(Unaudited)
  Shares   Value
Common Stocks & Other Equity Interests-100.01%
Aerospace & Defense-1.24%
Triumph Group, Inc.(b)

  182,584   $3,478,225
Agricultural & Farm Machinery-2.12%
Toro Co. (The)

  52,214   5,938,820
Air Freight & Logistics-1.67%
Atlas Air Worldwide Holdings, Inc.(b)

  69,851   4,677,922
Building Products-13.00%
A.O. Smith Corp.

  136,591   9,606,445
Advanced Drainage Systems, Inc.

  53,256   6,502,025
Carrier Global Corp.

  131,167   7,246,977
Cornerstone Building Brands, Inc.(b)

  227,364   3,824,262
Trane Technologies PLC

  45,472   9,258,554
        36,438,263
Construction & Engineering-11.47%
Ameresco, Inc., Class A(b)(c)

  101,323   6,943,665
Granite Construction, Inc.(c)

  96,607   3,711,641
MasTec, Inc.(b)

  60,294   6,103,562
MYR Group, Inc.(b)

  45,693   4,369,621
Quanta Services, Inc.

  71,882   6,534,074
WillScot Mobile Mini Holdings Corp.(b)

  156,456   4,491,852
        32,154,415
Construction Machinery & Heavy Trucks-1.35%
Manitowoc Co., Inc. (The)(b)

  163,976   3,796,044
Distributors-3.60%
Pool Corp.

  21,105   10,084,391
Electrical Components & Equipment-11.62%
AMETEK, Inc.

  74,170   10,313,338
Generac Holdings, Inc.(b)

  22,852   9,583,215
Hubbell, Inc.

  28,823   5,777,859
Vertiv Holdings Co.

  246,114   6,901,036
        32,575,448
Human Resource & Employment Services-2.25%
Upwork, Inc.(b)

  121,998   6,318,276
Industrial Conglomerates-2.39%
Honeywell International, Inc.

  28,601   6,686,628
Industrial Machinery-13.90%
Energy Recovery, Inc.(b)

  178,299   3,771,024
Evoqua Water Technologies Corp.(b)

  151,104   4,987,943
Graco, Inc.

  63,950   4,993,216
IDEX Corp.

  30,535   6,921,979
Illinois Tool Works, Inc.

  30,168   6,838,181
ITT, Inc.

  68,547   6,711,437
SPX Corp.(b)

  71,125   4,741,192
        38,964,972
IT Consulting & Other Services-3.32%
Accenture PLC, Class A

  29,308   9,310,565
Marine-2.45%
Eagle Bulk Shipping, Inc.(b)(c)

  76,483   3,189,341
Genco Shipping & Trading Ltd.

  209,091   3,669,547
        6,858,888
  Shares   Value
Paper Packaging-2.71%
Packaging Corp. of America

  53,603   $7,584,825
Railroads-3.25%
Union Pacific Corp.

  41,666   9,114,854
Research & Consulting Services-2.54%
Equifax, Inc.

  27,301   7,114,641
Trading Companies & Distributors-8.59%
Herc Holdings, Inc.(b)(c)

  54,154   6,717,262
United Rentals, Inc.(b)

  20,753   6,839,151
Veritiv Corp.(b)

  79,510   4,872,373
WESCO International, Inc.(b)

  53,092   5,651,644
        24,080,430
Trucking-12.54%
Avis Budget Group, Inc.(b)

  105,095   8,698,713
HyreCar, Inc.(b)

  298,911   5,224,964
Lyft, Inc., Class A(b)(c)

  99,315   5,494,106
Old Dominion Freight Line, Inc.

  36,660   9,867,039
XPO Logistics, Inc.(b)

  42,188   5,851,054
        35,135,876
Total Common Stocks & Other Equity Interests

(Cost $258,988,487)

  280,313,483
Money Market Funds-0.09%
Invesco Government & Agency Portfolio, Institutional Class, 0.03%(d)(e)

(Cost $254,125)

  254,125   254,125
TOTAL INVESTMENTS IN SECURITIES

(excluding investments purchased with cash collateral from securities on loan)-100.10%

(Cost $259,242,612)

  280,567,608
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-1.80%
Invesco Private Government Fund, 0.02%(d)(e)(f)

  1,511,617   1,511,617
Invesco Private Prime Fund, 0.12%(d)(e)(f)

  3,525,697   3,527,107
Total Investments Purchased with Cash Collateral from Securities on Loan

(Cost $5,038,724)

  5,038,724
TOTAL INVESTMENTS IN SECURITIES-101.90%

(Cost $264,281,336)

  285,606,332
OTHER ASSETS LESS LIABILITIES-(1.90)%

  (5,333,560)
NET ASSETS-100.00%

  $280,272,772
See accompanying notes which are an integral part of this schedule.

Invesco DWA Industrials Momentum ETF (PRN)—(continued)
July 31, 2021
(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 July 31, 2021.
(d) Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the three months ended July 31, 2021.
    
  Value
April 30, 2021
  Purchases
at Cost
  Proceeds
from Sales
  Change in
Unrealized
Appreciation
  Realized
Gain
  Value
July 31, 2021
  Dividend
Income