Schedule of Investments(a)
Invesco BuyBack AchieversTM ETF (PKW)
January 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.71%
Communication Services-4.32%
CarGurus, Inc.(b)
 
58,716
$1,902,398
Cars.com, Inc.(b)
 
33,430
379,765
Charter Communications, Inc., Class A(b)
 
64,849
13,366,676
DoubleVerify Holdings, Inc.(b)
 
108,678
1,175,896
Electronic Arts, Inc.
 
175,945
35,878,704
IAC, Inc.(b)(c)
 
49,709
1,836,747
Ibotta, Inc., Class A(b)
 
13,104
270,729
Iridium Communications, Inc.
 
72,679
1,447,766
Liberty Global Ltd., Class A (Belgium)(b)(c)
 
147,933
1,640,577
Match Group, Inc.
 
186,546
5,810,908
Scholastic Corp.
 
18,026
630,369
Travelzoo(b)(c)
 
6,110
35,743
TripAdvisor, Inc.(b)
 
86,747
1,152,868
Yelp, Inc.(b)
 
43,260
1,184,459
Ziff Davis, Inc.(b)(c)
 
28,172
1,076,734
ZipRecruiter, Inc., Class A(b)
 
50,326
123,802
ZoomInfo Technologies, Inc., Class A(b)(c)
 
201,182
1,619,515
 
 
69,533,656
Consumer Discretionary-18.35%
Abercrombie & Fitch Co., Class A(b)
 
32,259
3,149,446
Adient PLC(b)
 
56,445
1,174,056
ADT, Inc.
 
449,710
3,597,680
American Eagle Outfitters, Inc.
 
101,281
2,360,860
AutoNation, Inc.(b)
 
23,199
4,755,331
BARK, Inc.(b)(c)
 
105,831
94,190
Bath & Body Works, Inc.
 
140,074
3,053,613
BJ’s Restaurants, Inc.(b)
 
11,407
477,041
Boyd Gaming Corp.
 
45,170
3,818,672
Century Communities, Inc.
 
17,557
1,105,740
Columbia Sportswear Co.
 
23,887
1,320,473
Crocs, Inc.(b)(c)
 
34,021
2,855,042
D.R. Horton, Inc.
 
182,340
27,139,486
Dana, Inc.
 
73,186
2,115,075
Dave & Buster’s Entertainment, Inc.(b)(c)
 
15,706
294,802
Dine Brands Global, Inc.
 
11,953
411,064
Dutch Bros, Inc., Class A(b)(c)
 
105,278
5,726,070
eBay, Inc.
 
357,174
32,581,412
Etsy, Inc.(b)
 
74,195
3,929,367
Garrett Motion, Inc. (Switzerland)
 
187,419
3,381,039
General Motors Co.
 
746,149
62,676,516
H&R Block, Inc.
 
84,064
3,316,325
Harley-Davidson, Inc.(c)
 
78,559
1,555,468
Hilton Grand Vacations, Inc.(b)(c)
 
46,164
2,082,458
KB Home
 
43,688
2,513,808
Las Vegas Sands Corp.
 
241,081
12,712,201
Lennar Corp., Class B
 
9,081
919,542
Lithia Motors, Inc., Class A
 
18,696
6,047,034
Lovesac Co. (The)(b)(c)
 
10,424
138,848
Mattel, Inc.(b)
 
170,722
3,566,383
MGM Resorts International(b)
 
176,594
5,922,963
Murphy USA, Inc.
 
14,986
6,331,735
NVR, Inc.(b)
 
2,217
16,928,413
Oxford Industries, Inc.
 
10,467
385,709
PENN Entertainment, Inc.(b)
 
92,454
1,187,109
Phinia, Inc.
 
27,787
1,977,601
Signet Jewelers Ltd.(c)
 
25,091
2,315,147
Sturm, Ruger & Co., Inc.
 
10,449
383,374
Tapestry, Inc.
 
159,743
20,272,984
Taylor Morrison Home Corp., Class A(b)
 
73,456
4,477,143
Toll Brothers, Inc.
 
68,663
9,921,117
Travel + Leisure Co.
 
47,112
3,276,168
 
Shares
Value
Consumer Discretionary-(continued)
Tri Pointe Homes, Inc.(b)
 
56,326
$1,878,472
Ulta Beauty, Inc.(b)
 
277
179,319
Viking Holdings Ltd.(b)
 
149,047
10,753,741
Wendy’s Co. (The)
 
133,899
1,043,073
Wynn Resorts Ltd.
 
60,119
6,459,787
YETI Holdings, Inc.(b)
 
60,733
2,776,105
Zumiez, Inc.(b)(c)
 
11,435
281,415
 
 
295,620,417
Consumer Staples-3.52%
Adecoagro S.A. (Brazil)(c)
 
34,082
301,966
BellRing Brands, Inc.(b)
 
93,413
2,323,181
Boston Beer Co., Inc. (The), Class A(b)(c)
 
6,707
1,432,749
Central Garden & Pet Co., Class A(b)
 
36,846
1,130,067
Dollar Tree, Inc.(b)
 
137,974
16,224,363
Energizer Holdings, Inc.
 
32,377
706,790
John B. Sanfilippo & Son, Inc.
 
4,708
380,877
Kroger Co. (The)
 
451,296
28,363,954
Monster Beverage Corp.(b)
 
365
29,477
Nature’s Sunshine Products, Inc.(b)
 
16,859
425,184
Post Holdings, Inc.(b)(c)
 
33,318
3,408,765
Spectrum Brands Holdings, Inc.(c)
 
16,444
1,047,647
Weis Markets, Inc.
 
12,877
916,199
 
 
56,691,219
Energy-4.17%
California Resources Corp.
 
52,483
2,807,840
Chevron Corp.
 
336
59,438
Chord Energy Corp.
 
36,715
3,680,312
CNX Resources Corp.(b)(c)
 
101,350
3,932,380
Delek US Holdings, Inc.(c)
 
48,033
1,417,454
Forum Energy Technologies, Inc.(b)
 
8,883
401,867
Marathon Petroleum Corp.
 
237,539
41,851,996
NOV, Inc.
 
246,050
4,515,017
Oil States International, Inc.(b)
 
48,363
409,635
Par Pacific Holdings, Inc.(b)
 
36,832
1,390,040
Scorpio Tankers, Inc. (Monaco)(c)
 
46,390
2,951,332
SM Energy Co.
 
103
2,002
Talos Energy, Inc.(b)
 
96,651
1,152,080
Teekay Corp. Ltd. (Bermuda)(c)
 
51,769
529,597
Tidewater, Inc.(b)
 
32,957
2,059,483
 
 
67,160,473
Financials-32.30%
Affiliated Managers Group, Inc.
 
20,600
6,449,654
Aflac, Inc.
 
399,009
44,270,049
AllianceBernstein Holding L.P.
 
87,687
3,730,205
American International Group, Inc.
 
426,379
31,927,260
Assured Guaranty Ltd.
 
33,325
2,827,626
AXIS Capital Holdings Ltd.
 
66,817
6,894,178
Banc of California, Inc.
 
91,571
1,829,589
Bancorp, Inc. (The)(b)
 
27,934
1,660,397
Bank of N.T. Butterfield & Son Ltd. (The)
(Bermuda)
 
41,958
2,173,424
Bread Financial Holdings, Inc.
 
31,683
2,298,285
Cannae Holdings, Inc.
 
31,349
451,739
Citigroup, Inc.
 
692,035
80,075,370
CNO Financial Group, Inc.
 
69,836
2,936,604
Corebridge Financial, Inc.
 
215,683
6,649,507
Credit Acceptance Corp.(b)
 
5,635
2,807,582
Donnelley Financial Solutions, Inc.(b)
 
20,202
1,045,453
Employers Holdings, Inc.
 
16,032
699,316
Enact Holdings, Inc.
 
27,832
1,106,879
See accompanying notes which are an integral part of this schedule.

Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Enova International, Inc.(b)(c)
 
19,120
$3,158,050
Equitable Holdings, Inc.
 
190,524
8,840,314
Essent Group Ltd.
 
61,481
3,868,385
Euronet Worldwide, Inc.(b)(c)
 
34,035
2,466,176
Federated Hermes, Inc., Class B(c)
 
58,281
3,105,212
Fidelis Insurance Holdings Ltd. (United
Kingdom)(c)
 
42,692
812,856
Finance of America Cos., Inc., Class A(b)
 
6,772
157,720
First Citizens BancShares, Inc., Class A(c)
 
8,700
18,005,259
First Horizon Corp.
 
374,859
9,180,297
Fiserv, Inc.(b)
 
471,664
30,059,147
Genworth Financial, Inc., Class A(b)
 
265,562
2,214,787
Goldman Sachs Group, Inc. (The)
 
119
111,314
Granite Point Mortgage Trust, Inc.
 
43,400
92,442
Hilltop Holdings, Inc.
 
33,096
1,239,445
Jackson Financial, Inc., Class A
 
50,437
5,997,968
Kemper Corp.
 
45,701
1,801,076
KKR Real Estate Finance Trust, Inc.
 
41,651
344,870
Loews Corp.
 
151,355
15,978,547
M&T Bank Corp.
 
112,561
24,940,141
Marqeta, Inc., Class A(b)
 
247,236
1,021,085
Metropolitan Bank Holding Corp.
 
7,244
670,794
MGIC Investment Corp.
 
153,087
4,121,102
Navient Corp.
 
47,924
470,134
NB Bancorp, Inc.
 
37,932
823,883
Nuveen Churchill Direct Lending Corp.(c)
 
40,931
552,568
Pathward Financial, Inc.
 
15,070
1,360,670
PayPal Holdings, Inc.
 
820,514
43,232,883
Popular, Inc.
 
52,044
6,949,435
Preferred Bank
 
8,111
695,680
Radian Group, Inc.
 
97,926
3,221,765
RBB Bancorp
 
14,619
303,198
RenaissanceRe Holdings Ltd. (Bermuda)
 
28,438
8,010,985
Repay Holdings Corp., Class A(b)
 
58,054
202,608
Sierra Bancorp
 
11,172
395,601
SiriusPoint Ltd. (Sweden)(b)
 
66,416
1,355,551
Synchrony Financial
 
246,433
17,898,429
Unum Group
 
116,101
8,820,193
Wells Fargo & Co.
 
866,455
78,405,513
Westamerica Bancorporation
 
16,100
814,338
Western Union Co. (The)
 
245,037
2,295,997
WEX, Inc.(b)
 
25,112
3,864,737
World Acceptance Corp.(b)
 
3,593
435,651
WSFS Financial Corp.
 
35,828
2,319,146
 
 
520,449,069
Health Care-11.59%
4D Molecular Therapeutics, Inc.(b)(c)
 
41,295
365,874
AnaptysBio, Inc.(b)
 
23,747
1,125,845
Atea Pharmaceuticals, Inc.(b)
 
45,927
194,730
Centene Corp.(b)
 
218
9,444
Chemed Corp.
 
11,055
4,722,033
DaVita, Inc.(b)
 
33,336
3,644,958
Definitive Healthcare Corp.(b)
 
32,852
76,217
Exelixis, Inc.(b)
 
209,281
8,655,862
GoodRx Holdings, Inc., Class A(b)
 
82,328
186,885
Haemonetics Corp.(b)
 
35,186
2,345,499
Halozyme Therapeutics, Inc.(b)
 
90,661
6,501,300
HCA Healthcare, Inc.
 
138,539
67,644,437
Healthcare Triangle, Inc.(b)
 
5,206
1,358
Henry Schein, Inc.(b)
 
80,547
6,079,688
Incyte Corp.(b)
 
175
17,512
IQVIA Holdings, Inc.(b)
 
136,213
31,349,422
 
Shares
Value
Health Care-(continued)
Medpace Holdings, Inc.(b)
 
18,460
$10,752,581
Molina Healthcare, Inc.(b)
 
32,195
5,781,900
Option Care Health, Inc.(b)(c)
 
119,314
4,056,676
Revvity, Inc.
 
52,442
5,705,690
Roivant Sciences Ltd.(b)
 
355,221
7,679,878
Tactile Systems Technology, Inc.(b)
 
15,282
441,038
Tenet Healthcare Corp.(b)
 
55,052
10,420,243
Universal Health Services, Inc., Class B
 
44,177
8,891,063
 
 
186,650,133
Industrials-14.24%
AerCap Holdings N.V. (Ireland)(c)
 
152,546
21,914,758
AerSale Corp.(b)
 
35,014
262,255
Alaska Air Group, Inc.(b)
 
81,595
4,147,474
Albany International Corp., Class A
 
19,083
1,058,916
BlueLinx Holdings, Inc.(b)(c)
 
6,290
437,532
Carlisle Cos., Inc.
 
30,604
10,432,598
Carrier Global Corp.
 
543,780
32,398,412
Clarivate PLC(b)
 
318,704
844,566
Custom Truck One Source, Inc.(b)
 
67,681
427,744
Danaos Corp. (Greece)
 
8,634
893,187
Energy Recovery, Inc.(b)
 
43,900
640,501
EnerSys
 
27,387
4,934,863
Fluor Corp.(b)
 
122,709
5,667,929
Fortive Corp.
 
250,978
13,254,148
Fortune Brands Innovations, Inc.
 
94,933
5,135,875
FTI Consulting, Inc.(b)
 
17,852
3,118,209
FuelCell Energy, Inc.(b)
 
46,003
376,765
IBEX Holdings Ltd.(b)
 
11,293
420,100
J.B. Hunt Transport Services, Inc.
 
65,148
13,206,802
Johnson Controls International PLC
 
524,153
62,510,487
Matson, Inc.
 
22,236
3,564,431
Maximus, Inc.
 
34,638
3,271,213
Middleby Corp. (The)(b)
 
35,919
5,286,199
Pitney Bowes, Inc.
 
114,753
1,196,874
Science Applications International Corp.
 
33,051
3,363,270
Southwest Airlines Co.
 
368,792
17,524,996
TaskUS, Inc., Class A (Philippines)(b)
 
17,732
191,506
Textron, Inc.
 
139,255
12,262,795
Titan International, Inc.(b)(c)
 
40,673
388,020
Wabash National Corp.(c)
 
33,188
336,194
 
 
229,468,619
Information Technology-7.41%
Adeia, Inc.
 
77,037
1,393,599
Adobe, Inc.(b)
 
230,729
67,661,279
Avnet, Inc.
 
61,133
3,814,088
Blackbaud, Inc.(b)(c)
 
23,510
1,262,487
Clear Secure, Inc., Class A
 
63,847
2,082,689
Dropbox, Inc., Class A(b)(c)
 
116,222
2,961,337
eGain Corp.(b)
 
14,597
149,911
Freshworks, Inc., Class A(b)
 
168,991
1,821,723
Gartner, Inc.(b)
 
54,871
11,501,510
Jabil, Inc.
 
77,205
18,312,254
Nebius Group N.V., Class A
(Netherlands)(b)(c)
 
162
13,801
Photronics, Inc.(b)
 
43,827
1,515,099
ScanSource, Inc.(b)
 
15,436
663,594
Skyworks Solutions, Inc.
 
110,323
6,151,611
XTI Aerospace, Inc.(b)
 
31,597
52,767
 
 
119,357,749
See accompanying notes which are an integral part of this schedule.

Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Materials-1.55%
Ascent Industries Co.(b)
 
7,219
$117,020
Ashland, Inc.
 
36,163
2,211,729
Ball Corp.
 
196,271
11,161,932
CF Industries Holdings, Inc.
 
123,252
11,490,784
CRH PLC(c)
 
66
8,079
Steel Dynamics, Inc.
 
103
18,496
 
 
25,008,040
Real Estate-0.18%
Farmland Partners, Inc.
 
28,242
327,890
JBG SMITH Properties, (Acquired
08/07/2023 - 01/30/2026;
Cost $629,338)(d)
 
38,210
643,456
Sunstone Hotel Investors, Inc.
 
126,273
1,107,414
Xenia Hotels & Resorts, Inc.
 
60,299
889,410
 
 
2,968,170
Utilities-2.08%
NRG Energy, Inc.
 
136,663
20,858,873
Talen Energy Corp.(b)
 
36,105
12,577,538
 
 
33,436,411
Total Common Stocks & Other Equity Interests
(Cost $1,504,835,448)
1,606,343,956
Money Market Funds-0.02%
Invesco Government & Agency Portfolio,
Institutional Class, 3.61%(e)(f)
(Cost $353,998)
 
353,998
353,998
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.73%
(Cost $1,505,189,446)
1,606,697,954
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-5.60%
Invesco Private Government Fund,
3.65%(e)(f)(g)
 
25,090,087
$25,090,087
Invesco Private Prime Fund, 3.80%(e)(f)(g)
 
65,076,558
65,096,081
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $90,186,168)
90,186,168
TOTAL INVESTMENTS IN SECURITIES-105.33%
(Cost $1,595,375,614)
1,696,884,122
OTHER ASSETS LESS LIABILITIES-(5.33)%
(85,817,080
)
NET ASSETS-100.00%
$1,611,067,042
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 January 31, 2026.
(d)
Restricted security. The value of this security at January 31, 2026 represented less than 1% of the Fund’s Net Assets.
(e)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
January 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$1,335,636
$18,823,884
$(19,805,522
)
$-
$-
$353,998
$45,289
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
14,425,128
201,409,309
(190,744,350
)
-
-
25,090,087
577,323
*
Invesco Private Prime Fund
38,420,365
444,783,572
(418,111,175
)
2,202
1,117
65,096,081
1,549,131
*
Total
$54,181,129
$665,016,765
$(628,661,047
)
$2,202
$1,117
$90,540,166
$2,171,743
*
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.
See accompanying notes which are an integral part of this schedule.

Invesco BuyBack AchieversTM ETF (PKW)—(continued)
January 31, 2026
(Unaudited)
(f)
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
(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 Dividend AchieversTM ETF (PFM)
January 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.98%
Communication Services-1.18%
Comcast Corp., Class A
 
107,188
$3,188,843
John Wiley & Sons, Inc., Class A
 
1,307
40,818
Nexstar Media Group, Inc., Class A(b)
 
890
189,018
Verizon Communications, Inc.
 
124,351
5,536,106
 
 
8,954,785
Consumer Discretionary-4.41%
Best Buy Co., Inc.
 
6,187
402,774
Brunswick Corp.
 
1,917
153,782
Churchill Downs, Inc.
 
2,056
202,228
D.R. Horton, Inc.
 
8,597
1,279,577
Dick’s Sporting Goods, Inc.(b)
 
1,949
393,698
Dillard’s, Inc., Class A(b)
 
344
209,001
Domino’s Pizza, Inc.
 
992
407,047
Genuine Parts Co.
 
4,095
569,164
Haverty Furniture Cos., Inc.
 
445
11,267
Home Depot, Inc. (The)
 
29,360
10,997,962
Johnson Outdoors, Inc., Class A
 
271
12,301
Lithia Motors, Inc., Class A(b)
 
718
232,230
Lowe’s Cos., Inc.
 
16,544
4,418,241
Matthews International Corp., Class A
 
904
23,766
McDonald’s Corp.
 
21,003
6,615,945
NIKE, Inc., Class B
 
35,075
2,167,986
Polaris, Inc.
 
1,657
105,783
Pool Corp.
 
1,095
278,228
Service Corp. International
 
4,126
331,854
Shoe Carnival, Inc.(b)
 
802
15,286
Starbucks Corp.
 
33,535
3,083,543
Thor Industries, Inc.(b)
 
1,556
174,070
Tractor Supply Co.
 
15,551
791,235
Williams-Sonoma, Inc.
 
3,518
719,959
 
 
33,596,927
Consumer Staples-12.23%
Altria Group, Inc.
 
49,508
3,069,001
Andersons, Inc. (The)
 
994
61,618
Archer-Daniels-Midland Co.
 
14,144
952,033
Brown-Forman Corp., Class B(b)
 
8,939
244,660
Casey’s General Stores, Inc.
 
1,093
662,905
Church & Dwight Co., Inc.
 
7,068
680,295
Clorox Co. (The)
 
3,595
405,480
Coca-Cola Co. (The)
 
126,864
9,490,696
Colgate-Palmolive Co.
 
23,773
2,146,464
Costco Wholesale Corp.
 
13,070
12,289,068
Flowers Foods, Inc.
 
6,219
71,083
Hershey Co. (The)
 
4,363
849,694
Hormel Foods Corp.
 
16,190
398,436
Ingredion, Inc.
 
1,873
221,201
J&J Snack Foods Corp.
 
573
54,435
J.M. Smucker Co. (The)
 
3,142
329,470
Kimberly-Clark Corp.(b)
 
9,767
976,602
Kroger Co. (The)
 
19,503
1,225,764
Marzetti Co. (The)
 
806
138,285
McCormick & Co., Inc.
 
7,456
461,004
Mondelez International, Inc., Class A
 
38,055
2,225,076
Oil-Dri Corp.of America(b)
 
307
18,589
PepsiCo, Inc.
 
40,326
6,195,283
Philip Morris International, Inc.
 
45,909
8,237,911
Procter & Gamble Co. (The)
 
68,915
10,459,230
Sysco Corp.
 
14,094
1,181,782
Target Corp.
 
13,331
1,406,021
Tootsie Roll Industries, Inc.(b)
 
1,230
46,592
 
Shares
Value
Consumer Staples-(continued)
Tyson Foods, Inc., Class A
 
8,330
$544,199
Universal Corp.
 
730
41,311
Walmart, Inc.
 
235,185
28,019,941
WD-40 Co.
 
400
92,492
 
 
93,196,621
Energy-4.51%
Chevron Corp.
 
59,383
10,504,853
Delek Logistics Partners L.P.
 
1,575
78,262
Enterprise Products Partners L.P.
 
63,801
2,117,555
Exxon Mobil Corp.
 
124,373
17,586,342
MPLX L.P.
 
29,995
1,676,721
Phillips 66
 
11,883
1,705,923
Texas Pacific Land Corp.
 
2,025
705,429
 
 
34,375,085
Financials-20.12%
1st Source Corp.
 
723
48,680
Aflac, Inc.
 
15,457
1,714,954
Alerus Financial Corp.(b)
 
744
18,317
Allstate Corp. (The)
 
7,706
1,533,417
American Financial Group, Inc.
 
2,453
319,552
Ameriprise Financial, Inc.
 
2,740
1,444,501
AMERISAFE, Inc.
 
560
21,062
Aon PLC, Class A
 
6,339
2,216,368
Arbor Realty Trust, Inc.(b)
 
5,762
44,367
Arrow Financial Corp.
 
487
16,465
Arthur J. Gallagher & Co.
 
7,574
1,888,728
Associated Banc-Corp
 
4,887
133,220
Assurant, Inc.
 
1,474
351,004
Assured Guaranty Ltd.
 
1,372
116,414
Atlantic Union Bankshares Corp., Class B
 
4,196
162,973
BancFirst Corp.
 
979
107,641
Bank First Corp.(b)
 
291
40,606
Bank of America Corp.
 
215,366
11,457,471
Bank of New York Mellon Corp. (The)
 
20,566
2,466,275
Bank OZK
 
3,296
156,758
Bar Harbor Bankshares
 
494
16,752
BlackRock, Inc.
 
4,576
5,120,269
BOK Financial Corp.(b)
 
1,864
242,208
Brown & Brown, Inc.
 
10,050
724,605
Capital City Bank Group, Inc.
 
505
21,089
Cass Information Systems, Inc.
 
387
17,400
Cboe Global Markets, Inc.
 
3,082
816,915
Chubb Ltd.
 
11,607
3,593,063
Cincinnati Financial Corp.
 
4,594
739,129
City Holding Co.
 
427
52,559
Civista Bancshares, Inc.
 
614
14,816
CME Group, Inc., Class A
 
10,635
3,074,153
CNO Financial Group, Inc.
 
2,807
118,034
Cohen & Steers, Inc.
 
1,502
96,519
Commerce Bancshares, Inc.(b)
 
4,093
215,456
Community Financial System, Inc.(b)
 
1,551
96,938
Community Trust Bancorp, Inc.
 
536
33,071
Cullen/Frost Bankers, Inc.
 
1,885
259,791
Donegal Group, Inc., Class A
 
912
17,027
Enterprise Financial Services Corp.
 
1,088
62,397
Erie Indemnity Co., Class A
 
1,359
384,611
Evercore, Inc., Class A
 
1,137
401,668
FactSet Research Systems, Inc.
 
1,100
279,796
Federal Agricultural Mortgage Corp., Class C
 
277
46,896
Fidelity National Financial, Inc.
 
7,977
433,869
Fifth Third Bancorp
 
19,469
977,733
See accompanying notes which are an integral part of this schedule.

Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
First American Financial Corp.(b)
 
3,000
$189,540
First Business Financial Services, Inc.
 
246
14,101
First Community Bankshares, Inc.(b)
 
542
19,523
First Financial Bankshares, Inc.
 
4,216
134,153
First Financial Corp.
 
351
22,871
First Merchants Corp.
 
1,704
67,751
Franklin Resources, Inc.
 
15,331
408,111
German American Bancorp, Inc.
 
1,102
46,361
Globe Life, Inc.
 
2,340
328,115
Goldman Sachs Group, Inc. (The)
 
8,846
8,274,637
Hanover Insurance Group, Inc. (The)
 
1,045
181,976
Hartford Insurance Group, Inc. (The)
 
8,200
1,107,492
Heritage Financial Corp.
 
997
25,733
Home BancShares, Inc.
 
5,786
167,215
Horace Mann Educators Corp.
 
1,196
53,593
Independent Bank Corp.
 
1,460
117,939
Independent Bank Corp.
 
612
21,512
Intercontinental Exchange, Inc.
 
16,816
2,922,284
International Bancshares Corp.
 
1,832
127,580
Jack Henry & Associates, Inc.
 
2,134
382,434
JPMorgan Chase & Co.
 
80,327
24,571,226
Lakeland Financial Corp.
 
748
44,581
Main Street Capital Corp.(b)
 
2,636
168,177
MarketAxess Holdings, Inc.(b)
 
1,100
186,153
Marsh & McLennan Cos., Inc.
 
14,448
2,718,969
Mastercard, Inc., Class A
 
26,285
14,162,095
Mercantile Bank Corp.
 
481
25,002
MetLife, Inc.
 
19,399
1,530,193
Moody’s Corp.
 
5,261
2,712,361
Morgan Stanley
 
46,872
8,568,202
Morningstar, Inc.
 
1,209
244,327
MSCI, Inc.
 
2,216
1,350,032
Nasdaq, Inc.
 
16,840
1,631,628
NBT Bancorp, Inc.
 
1,541
68,467
Nelnet, Inc., Class A
 
741
97,738
Northrim BanCorp, Inc.
 
654
15,408
Old Republic International Corp.(b)
 
7,285
285,353
PNC Financial Services Group, Inc. (The)
 
11,566
2,582,688
Primerica, Inc.
 
937
246,468
Principal Financial Group, Inc.
 
6,471
612,933
Prosperity Bancshares, Inc.(b)
 
2,796
192,952
Prudential Financial, Inc.
 
10,304
1,144,877
Raymond James Financial, Inc.
 
5,790
960,329
Regions Financial Corp.
 
26,267
748,610
Reinsurance Group of America, Inc.
 
1,937
392,727
RenaissanceRe Holdings Ltd. (Bermuda)
 
1,360
383,112
Republic Bancorp, Inc., Class A
 
515
37,394
RLI Corp.
 
2,702
157,878
S&P Global, Inc.
 
8,930
4,713,165
S&T Bancorp, Inc.(b)
 
1,123
47,885
SEI Investments Co.
 
3,611
317,226
Selective Insurance Group, Inc.
 
1,780
149,662
ServisFirst Bancshares, Inc.
 
1,609
131,697
Simmons First National Corp., Class A
 
4,261
86,626
Southern Missouri Bancorp, Inc.(b)
 
332
20,773
Southside Bancshares, Inc.
 
882
28,392
SouthState Bank Corp.
 
2,959
302,794
State Street Corp.
 
8,220
1,075,669
Stock Yards Bancorp, Inc.(b)
 
864
58,484
T. Rowe Price Group, Inc.
 
6,428
679,311
Tompkins Financial Corp.
 
427
34,211
Towne Bank
 
2,320
81,200
 
Shares
Value
Financials-(continued)
Travelers Cos., Inc. (The)
 
6,579
$1,871,791
TriCo Bancshares(b)
 
954
47,528
U.S. Bancorp
 
45,844
2,572,307
UMB Financial Corp.
 
2,232
283,776
United Bankshares, Inc.
 
4,133
174,950
United Community Banks, Inc.
 
3,583
123,363
Unity Bancorp, Inc.
 
297
16,026
Unum Group
 
4,929
374,456
Visa, Inc., Class A
 
49,772
16,018,123
W.R. Berkley Corp.
 
11,185
767,067
WaFd, Inc.
 
2,254
73,525
WesBanco, Inc.
 
2,827
99,765
Westamerica Bancorporation
 
730
36,923
Wintrust Financial Corp.
 
1,974
291,145
Zions Bancorporation N.A.
 
4,347
260,429
 
 
153,306,607
Health Care-15.85%
Abbott Laboratories
 
51,283
5,605,232
AbbVie, Inc.
 
52,124
11,624,173
Agilent Technologies, Inc.
 
8,344
1,116,844
Amgen, Inc.
 
15,881
5,429,396
Becton, Dickinson and Co.
 
8,418
1,712,895
Bristol-Myers Squibb Co.
 
60,039
3,305,147
Cardinal Health, Inc.
 
7,007
1,505,664
Cencora, Inc.
 
5,721
2,055,098
Chemed Corp.
 
419
178,972
Danaher Corp.
 
20,832
4,559,916
Elevance Health, Inc.
 
6,554
2,265,980
Eli Lilly and Co.
 
27,881
28,916,779
Ensign Group, Inc. (The)
 
1,707
293,024
Johnson & Johnson
 
71,055
16,147,249
LeMaitre Vascular, Inc.(b)
 
672
57,100
McKesson Corp.
 
3,640
3,025,604
Medtronic PLC
 
37,809
3,892,815
Merck & Co., Inc.
 
73,200
8,071,764
National HealthCare Corp.
 
459
65,687
Perrigo Co. PLC
 
4,051
57,565
Pfizer, Inc.
 
167,684
4,433,565
Quest Diagnostics, Inc.
 
3,277
612,897
ResMed, Inc.
 
4,298
1,110,216
STERIS PLC
 
2,889
758,651
Stryker Corp.
 
11,278
4,167,898
UnitedHealth Group, Inc.
 
26,715
7,665,335
West Pharmaceutical Services, Inc.
 
2,122
490,437
Zoetis, Inc.
 
12,997
1,622,286
 
 
120,748,189
Industrials-11.77%
A.O. Smith Corp.
 
3,340
245,457
ABM Industries, Inc.
 
1,805
83,102
Advanced Drainage Systems, Inc.
 
2,286
347,563
AGCO Corp.
 
2,193
248,708
Air Lease Corp., Class A
 
3,292
212,762
Alamo Group, Inc.
 
359
70,116
Allegion PLC
 
2,531
418,602
Apogee Enterprises, Inc.
 
637
23,652
Applied Industrial Technologies, Inc.
 
1,108
288,534
Automatic Data Processing, Inc.
 
11,928
2,944,069
Booz Allen Hamilton Holding Corp.
 
3,575
316,102
Brady Corp., Class A
 
1,284
111,028
Broadridge Financial Solutions, Inc.
 
3,439
677,861
C.H. Robinson Worldwide, Inc.
 
3,481
678,621
See accompanying notes which are an integral part of this schedule.

Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
Carlisle Cos., Inc.
 
1,229
$418,954
Caterpillar, Inc.
 
13,802
9,072,883
Cintas Corp.
 
11,852
2,268,354
Comfort Systems USA, Inc.
 
1,040
1,187,784
CSG Systems International, Inc.(b)
 
836
66,671
CSX Corp.
 
54,918
2,073,704
Cummins, Inc.
 
4,071
2,356,376
Donaldson Co., Inc.
 
3,413
347,921
Dover Corp.
 
4,037
813,415
Eaton Corp. PLC
 
11,455
4,025,516
Emerson Electric Co.
 
16,569
2,434,980
Expeditors International of Washington, Inc.
 
3,944
633,170
Exponent, Inc.
 
1,469
105,577
Fastenal Co.
 
33,797
1,465,438
Franklin Electric Co., Inc.
 
1,310
130,502
GATX Corp.
 
1,049
190,824
General Dynamics Corp.
 
7,966
2,796,783
Gorman-Rupp Co. (The)
 
771
42,012
Graco, Inc.
 
4,884
426,520
Griffon Corp.
 
1,360
110,772
HEICO Corp.(b)
 
1,622
536,736
HNI Corp.(b)
 
1,349
64,469
Honeywell International, Inc.
 
18,724
4,260,085
Hubbell, Inc.
 
1,565
763,626
Huntington Ingalls Industries, Inc.
 
1,154
485,269
Hyster-Yale, Inc.
 
423
14,149
IDEX Corp.
 
2,200
436,810
Illinois Tool Works, Inc.
 
8,556
2,235,341
Insperity, Inc.
 
1,108
47,345
ITT, Inc.
 
2,538
462,677
J.B. Hunt Transport Services, Inc.
 
2,803
568,224
Kadant, Inc.
 
349
112,043
L3Harris Technologies, Inc.
 
5,517
1,891,503
Landstar System, Inc.
 
1,009
150,704
Lennox International, Inc.
 
1,030
509,932
Lincoln Electric Holdings, Inc.
 
1,621
430,132
Lindsay Corp.
 
314
39,335
Lockheed Martin Corp.
 
6,824
4,327,917
Masco Corp.
 
6,116
404,206
Matson, Inc.
 
915
146,675
MSA Safety, Inc.
 
1,151
203,900
Mueller Water Products, Inc., Class A
 
4,604
124,630
Nordson Corp.
 
1,655
454,347
Northrop Grumman Corp.
 
4,209
2,913,722
Oshkosh Corp.
 
1,864
268,081
Owens Corning
 
2,417
289,653
Paychex, Inc.
 
10,597
1,092,869
Republic Services, Inc.
 
9,130
1,963,772
Robert Half, Inc.
 
2,979
103,103
Rockwell Automation, Inc.
 
3,307
1,394,397
RTX Corp.
 
39,542
7,945,174
Ryder System, Inc.
 
1,187
227,049
Simpson Manufacturing Co., Inc.
 
1,219
215,495
Snap-on, Inc.
 
1,531
560,514
Standex International Corp.
 
359
86,160
Stanley Black & Decker, Inc.
 
4,561
358,768
Tennant Co.
 
537
40,860
Tetra Tech, Inc.
 
7,681
289,267
Timken Co. (The)
 
2,054
191,412
Toro Co. (The)
 
2,881
263,612
Trane Technologies PLC
 
6,540
2,750,593
Trinity Industries, Inc.
 
2,357
67,740
 
Shares
Value
Industrials-(continued)
UFP Industries, Inc.
 
1,716
$177,229
Union Pacific Corp.
 
17,494
4,112,839
United Parcel Service, Inc., Class B
 
21,794
2,314,959
W.W. Grainger, Inc.
 
1,402
1,514,076
Waste Management, Inc.
 
11,881
2,640,433
Watsco, Inc.(b)
 
1,026
396,498
Watts Water Technologies, Inc., Class A
 
803
240,346
Xylem, Inc.
 
7,167
988,114
 
 
89,711,123
Information Technology-21.24%
Accenture PLC, Class A
 
18,289
4,821,712
Amphenol Corp., Class A
 
36,100
5,201,288
Analog Devices, Inc.
 
14,441
4,489,418
Apple, Inc.
 
107,571
27,912,523
Avnet, Inc.(b)
 
2,391
149,175
Badger Meter, Inc.
 
864
126,645
Broadcom, Inc.
 
74,419
24,655,015
CDW Corp.
 
3,831
484,200
Cisco Systems, Inc.
 
116,526
9,126,316
Dolby Laboratories, Inc., Class A(b)
 
1,793
115,093
HP, Inc.
 
27,515
534,892
International Business Machines Corp.
 
27,567
8,454,799
Intuit, Inc.
 
8,207
4,094,636
KLA Corp.
 
3,875
5,533,268
Lam Research Corp.
 
37,043
8,648,059
Littelfuse, Inc.
 
729
236,021
Microchip Technology, Inc.
 
15,908
1,207,735
Microsoft Corp.
 
60,950
26,226,176
Motorola Solutions, Inc.
 
4,906
1,974,861
Oracle Corp.
 
84,076
13,837,228
Power Integrations, Inc.(b)
 
1,630
74,882
QUALCOMM, Inc.
 
31,586
4,788,122
Roper Technologies, Inc.
 
3,170
1,176,799
Skyworks Solutions, Inc.(b)
 
4,378
244,117
TE Connectivity PLC (Switzerland)
 
8,676
1,932,839
Texas Instruments, Inc.
 
26,797
5,776,093
 
 
161,821,912
Materials-2.88%
Air Products and Chemicals, Inc.
 
6,565
1,788,962
Albemarle Corp.
 
3,468
591,745
AptarGroup, Inc.
 
1,934
241,653
Ashland, Inc.
 
1,345
82,260
Avery Dennison Corp.
 
2,272
421,479
Avient Corp.
 
2,694
97,388
Balchem Corp.
 
951
161,832
Cabot Corp.
 
1,558
112,472
Eastman Chemical Co.
 
3,361
232,985
Ecolab, Inc.
 
8,353
2,355,462
H.B. Fuller Co.
 
1,593
95,739
Hawkins, Inc.
 
618
80,494
Innospec, Inc.
 
725
59,247
Linde PLC
 
13,771
6,292,934
LyondellBasell Industries N.V., Class A
 
9,472
464,128
Materion Corp.
 
614
84,904
Nucor Corp.
 
6,734
1,196,766
PPG Industries, Inc.
 
6,602
763,389
Quaker Chemical Corp.
 
513
78,869
Reliance, Inc.
 
1,540
507,430
Royal Gold, Inc.
 
2,482
653,535
RPM International, Inc.
 
3,772
403,453
Sherwin-Williams Co. (The)
 
7,311
2,592,773
See accompanying notes which are an integral part of this schedule.

Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Materials-(continued)
Silgan Holdings, Inc.
 
3,151
$135,966
Sonoco Products Co.
 
2,904
139,392
Steel Dynamics, Inc.
 
4,300
772,151
Stepan Co.
 
670
38,599
Vulcan Materials Co.
 
3,888
1,168,500
Westlake Corp.(b)
 
3,774
299,354
 
 
21,913,861
Real Estate-1.61%
Agree Realty Corp.
 
3,386
244,571
Alexandria Real Estate Equities, Inc.
 
5,084
277,790
American Tower Corp.
 
13,807
2,475,319
CareTrust REIT, Inc.(b)
 
6,570
245,324
CubeSmart
 
6,710
251,826
EastGroup Properties, Inc.
 
1,571
285,357
Equity LifeStyle Properties, Inc.(b)
 
5,705
360,385
Essex Property Trust, Inc.
 
1,898
478,049
First Industrial Realty Trust, Inc.
 
3,897
226,143
Getty Realty Corp.
 
1,701
50,792
Gladstone Land Corp.(b)
 
1,096
12,220
Mid-America Apartment Communities, Inc.
 
3,450
463,335
NNN REIT, Inc.
 
5,590
232,935
Prologis, Inc.
 
27,394
3,576,561
Realty Income Corp.
 
27,130
1,659,271
Regency Centers Corp.
 
5,382
392,186
Rexford Industrial Realty, Inc.
 
6,851
277,671
STAG Industrial, Inc.
 
5,496
206,155
Terreno Realty Corp.
 
3,045
187,389
UDR, Inc.
 
9,727
361,358
Universal Health Realty Income Trust
 
411
16,329
 
 
12,280,966
Utilities-4.18%
AES Corp. (The)
 
20,958
307,035
Alliant Energy Corp.
 
7,569
498,873
Ameren Corp.
 
7,959
822,006
American Electric Power Co., Inc.
 
15,752
1,886,696
American States Water Co.
 
1,138
83,028
American Water Works Co., Inc.
 
5,744
741,723
Artesian Resources Corp., Class A
 
279
9,307
Atmos Energy Corp.
 
4,762
792,111
Avista Corp.
 
2,393
98,807
Black Hills Corp.
 
2,218
161,870
Brookfield Infrastructure Partners L.P.
(Canada)
 
13,580
490,917
Brookfield Renewable Partners L.P. (Canada)
 
8,801
262,534
California Water Service Group
 
1,756
78,493
Chesapeake Utilities Corp.
 
700
90,076
CMS Energy Corp.
 
8,960
640,550
Consolidated Edison, Inc.
 
10,628
1,133,264
DTE Energy Co.
 
6,116
821,868
Duke Energy Corp.
 
22,935
2,783,162
Edison International
 
11,326
705,383
Entergy Corp.
 
13,148
1,260,762
Essential Utilities, Inc.
 
8,328
323,043
Evergy, Inc.
 
6,774
519,769
 
Shares
Value
Utilities-(continued)
Eversource Energy
 
11,042
$763,333
H2O America
 
1,052
54,746
IDACORP, Inc.
 
1,592
211,402
MGE Energy, Inc.
 
1,074
85,791
Middlesex Water Co.
 
543
28,442
National Fuel Gas Co.
 
2,659
222,691
New Jersey Resources Corp.
 
2,966
146,758
NextEra Energy, Inc.
 
61,421
5,398,906
NiSource, Inc.
 
14,044
622,009
Northwest Natural Holding Co.
 
1,221
56,850
NorthWestern Energy Group, Inc.
 
1,810
122,827
OGE Energy Corp.
 
6,052
264,351
ONE Gas, Inc.
 
1,768
140,662
Otter Tail Corp.
 
1,232
109,845
Pinnacle West Capital Corp.
 
3,527
329,986
Portland General Electric Co.
 
3,314
166,528
Public Service Enterprise Group, Inc.
 
14,694
1,210,198
Sempra
 
19,249
1,674,855
Southern Co. (The)
 
32,474
2,900,253
Spire, Inc.
 
1,740
147,013
UGI Corp.
 
6,318
253,415
Unitil Corp.
 
530
26,982
WEC Energy Group, Inc.
 
9,573
1,059,444
Xcel Energy, Inc.
 
17,413
1,324,433
York Water Co. (The)
 
427
14,339
 
 
31,847,336
Total Common Stocks & Other Equity Interests
(Cost $526,807,451)
761,753,412
Money Market Funds-0.09%
Invesco Government & Agency Portfolio,
Institutional Class, 3.61%(c)(d)
(Cost $651,297)
 
651,297
651,297
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.07%
(Cost $527,458,748)
762,404,709
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-0.59%
Invesco Private Government Fund,
3.65%(c)(d)(e)
 
1,249,953
1,249,953
Invesco Private Prime Fund, 3.80%(c)(d)(e)
 
3,245,377
3,246,351
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $4,496,304)
4,496,304
TOTAL INVESTMENTS IN SECURITIES-100.66%
(Cost $531,955,052)
766,901,013
OTHER ASSETS LESS LIABILITIES-(0.66)%
(5,011,035
)
NET ASSETS-100.00%
$761,889,978
See accompanying notes which are an integral part of this schedule.

Invesco Dividend AchieversTM ETF (PFM)—(continued)
January 31, 2026
(Unaudited)
Investment Abbreviations:
REIT
-Real Estate Investment Trust
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at January 31, 2026.
(c)
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 nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
January 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$766,849
$12,548,731
$(12,664,283
)
$-
$-
$651,297
$24,148
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
3,748,139
26,490,678
(28,988,864
)
-
-
1,249,953
70,500
*
Invesco Private Prime Fund
9,743,106
52,287,615
(58,785,202
)
451
381
3,246,351
191,911
*
Total
$14,258,094
$91,327,024
$(100,438,349
)
$451
$381
$5,147,601
$286,559
*
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.
(d)
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
(e)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
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 Dow Jones Industrial Average Dividend ETF (DJD)
January 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.74%
Communication Services-11.69%
Verizon Communications, Inc.
 
965,069
$42,964,872
Walt Disney Co. (The)
 
49,978
5,637,518
 
 
48,602,390
Consumer Discretionary-9.97%
Home Depot, Inc. (The)
 
36,685
13,741,834
McDonald’s Corp.
 
50,568
15,928,920
NIKE, Inc., Class B
 
190,781
11,792,174
 
 
41,462,928
Consumer Staples-10.86%
Coca-Cola Co. (The)
 
284,017
21,247,312
Procter & Gamble Co. (The)
 
111,597
16,937,077
Walmart, Inc.
 
58,388
6,956,346
 
 
45,140,735
Energy-7.50%
Chevron Corp.
 
176,238
31,176,502
Financials-11.24%
American Express Co.
 
17,912
6,308,069
Goldman Sachs Group, Inc. (The)
 
14,343
13,416,586
JPMorgan Chase & Co.
 
37,798
11,562,030
Travelers Cos., Inc. (The)
 
38,912
11,070,853
Visa, Inc., Class A
 
13,604
4,378,175
 
 
46,735,713
Health Care-24.68%
Amgen, Inc.
 
81,384
27,823,562
Johnson & Johnson
 
109,097
24,792,293
Merck & Co., Inc.
 
313,976
34,622,133
UnitedHealth Group, Inc.
 
53,548
15,364,528
 
 
102,602,516
 
Shares
Value
Industrials-10.05%
3M Co.
 
80,293
$12,297,676
Caterpillar, Inc.
 
21,791
14,324,532
Honeywell International, Inc.
 
66,637
15,161,250
 
 
41,783,458
Information Technology-12.47%
Apple, Inc.
 
13,019
3,378,170
Cisco Systems, Inc.
 
232,851
18,236,891
International Business Machines Corp.
 
73,153
22,436,025
Microsoft Corp.
 
8,973
3,860,992
NVIDIA Corp.
 
879
168,003
Salesforce, Inc.
 
17,622
3,740,975
 
 
51,821,056
Materials-1.28%
Sherwin-Williams Co. (The)
 
14,994
5,317,472
Total Common Stocks & Other Equity Interests
(Cost $353,647,403)
414,642,770
Money Market Funds-0.06%
Invesco Government & Agency Portfolio,
Institutional Class, 3.61%(b)(c)
(Cost $239,555)
 
239,555
239,555
TOTAL INVESTMENTS IN SECURITIES-99.80%
(Cost $353,886,958)
414,882,325
OTHER ASSETS LESS LIABILITIES-0.20%
846,422
NET ASSETS-100.00%
$415,728,747
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)
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 nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
January 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$385,164
$9,233,998
$(9,379,607
)
$-
$-
$239,555
$9,901
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
-
29,983,220
(29,983,220
)
-
-
-
7,293
*
Invesco Private Prime Fund
-
65,617,417
(65,616,504
)
-
(913
)
-
21,072
*
Total
$385,164
$104,834,635
$(104,979,331
)
$-
$(913
)
$239,555
$38,266
*
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.
(c)
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
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 Financial Preferred ETF (PGF)
January 31, 2026
(Unaudited)
 
Shares
Value
Preferred Stocks-99.84%
Banks-54.28%
Bank of America Corp.
 
Series PP, Pfd., 4.13%
 
395,611
$6,836,158
Series QQ, Pfd., 4.25%(b)
 
562,250
9,934,957
Series NN, Pfd., 4.38%(b)
 
466,021
8,504,883
Series SS, Pfd., 4.75%
 
297,202
5,899,460
Series LL, Pfd., 5.00%
 
564,068
12,009,008
Series KK, Pfd., 5.38%
 
599,054
13,616,497
Series HH, Pfd., 5.88%(b)
 
369,045
9,229,815
Series GG, Pfd., 6.00%(b)
 
585,276
14,731,397
Bank OZK, Series A, Pfd., 4.63%
 
209,930
3,516,328
Citizens Financial Group, Inc.
 
Series E, Pfd., 5.00%
 
269,890
5,327,629
Series I, Pfd., 6.50%(c)
 
239,910
6,129,701
Pfd., 7.38%(b)
 
239,910
6,297,637
Comerica, Inc., Series B, Pfd., 6.88%(c)
 
239,910
6,177,682
Fifth Third Bancorp, Series K, Pfd., 4.95%
 
149,935
2,979,208
First Citizens BancShares, Inc., Series A, Pfd.,
5.38%
 
206,936
4,310,477
Flagstar Bank N.A, Series A, Pfd., 6.38%(b)(c)
 
308,889
7,017,958
Huntington Bancshares, Inc.
 
Series H, Pfd., 4.50%
 
299,867
5,313,643
Series J, Pfd., 6.88%(c)
 
194,923
4,941,298
JPMorgan Chase & Co.
 
Series MM, Pfd., 4.20%
 
867,047
16,109,733
Series JJ, Pfd., 4.55%(b)
 
650,285
12,726,077
Series LL, Pfd., 4.63%
 
802,019
15,960,178
Series GG, Pfd., 4.75%
 
390,086
7,938,250
Series DD, Pfd., 5.75%
 
735,364
18,384,100
Series EE, Pfd., 6.00%(b)
 
802,019
20,154,737
KeyCorp
 
Series G, Pfd., 5.63%
 
269,805
5,916,824
Series F, Pfd., 5.65%
 
254,882
5,592,111
Series E, Pfd., 6.13%(b)(c)
 
299,809
7,546,193
Pfd., 6.20%(c)
 
359,827
9,110,820
M&T Bank Corp.
 
Series H, Pfd., 5.63%(b)(c)
 
149,935
3,757,371
Series K, Pfd., 6.35%
 
269,846
6,862,184
Series J, Pfd., 7.50%
 
449,744
12,084,621
Regions Financial Corp.
 
Series E, Pfd., 4.45%
 
239,910
4,162,439
Series C, Pfd., 5.70%(c)
 
299,867
7,409,714
Pfd., 6.95%(c)
 
299,867
7,631,615
Texas Capital Bancshares, Inc., Series B, Pfd.,
5.75%
 
179,914
3,753,006
Truist Financial Corp.
 
Series R, Pfd., 4.75%(b)
 
554,788
10,884,941
Series O, Pfd., 5.25%(b)
 
344,857
7,673,068
U.S. Bancorp
 
Series L, Pfd., 3.75%
 
299,840
4,635,526
Series M, Pfd., 4.00%(b)
 
449,695
7,410,974
Series O, Pfd., 4.50%
 
269,832
4,986,495
Series K, Pfd., 5.50%
 
344,842
8,100,339
UMB Financial Corp., Pfd., 7.75%(c)
 
179,914
4,873,870
WaFd, Inc., Series A, Pfd., 4.88%
 
179,914
2,981,175
 
Shares
Value
Banks-(continued)
Wells Fargo & Co.
 
Series DD, Pfd., 4.25%
 
541,866
$9,628,959
Series CC, Pfd., 4.38%
 
455,103
8,323,834
Series AA, Pfd., 4.70%
 
507,173
9,864,515
Series Z, Pfd., 4.75%
 
872,466
17,187,580
Series Y, Pfd., 5.63%
 
298,889
7,257,025
Western Alliance Bancorporation, Series A,
Pfd., 4.25%(c)
 
179,914
4,170,407
 
 
405,852,417
Capital Markets-15.83%
Bank of New York Mellon Corp. (The), Series K,
Pfd., 6.15%(c)
 
299,867
7,724,574
Charles Schwab Corp. (The)
 
Series J, Pfd., 4.45%(b)
 
359,865
6,866,224
Series D, Pfd., 5.95%(b)
 
449,840
11,394,447
Morgan Stanley
 
Series O, Pfd., 4.25%
 
563,469
10,057,922
Series L, Pfd., 4.88%
 
216,409
4,522,948
Series K, Pfd., 5.85%
 
433,486
10,672,425
Series I, Pfd., 6.38%
 
433,490
10,954,292
Series P, Pfd., 6.50%
 
433,524
11,037,521
Series Q, Pfd., 6.63%
 
433,488
11,366,056
Series F, Pfd., 6.88%
 
368,495
9,304,499
Series E, Pfd., 7.13%
 
373,843
9,547,950
Northern Trust Corp., Series E, Pfd., 4.70%
 
239,910
4,719,030
State Street Corp., Series G, Pfd., 5.35%
 
299,867
7,025,884
Stifel Financial Corp., Series D, Pfd., 4.50%
 
179,914
3,126,905
 
 
118,320,677
Consumer Finance-6.72%
Capital One Financial Corp.
 
Series N, Pfd., 4.25%(b)
 
200,683
3,351,406
Series L, Pfd., 4.38%(b)
 
319,079
5,411,580
Series J, Pfd., 4.80%
 
590,730
10,893,061
Series I, Pfd., 5.00%
 
708,778
13,955,839
Synchrony Financial
 
Series A, Pfd., 5.63%
 
449,840
8,843,854
Series B, Pfd., 8.25%(c)
 
299,867
7,790,545
 
 
50,246,285
Financial Services-3.48%
Equitable Holdings, Inc.
 
Series C, Pfd., 4.30%
 
179,914
2,997,367
Series A, Pfd., 5.25%(b)
 
479,820
10,047,431
Jackson Financial, Inc., Pfd., 8.00%(c)
 
329,885
8,613,298
Voya Financial, Inc., Series B, Pfd., 5.35%(c)
 
179,914
4,386,303
 
 
26,044,399
Insurance-19.53%
Allstate Corp. (The)
 
Series I, Pfd., 4.75%
 
179,870
3,552,432
Series H, Pfd., 5.10%
 
689,613
14,861,160
Series J, Pfd., 7.38%
 
359,810
9,614,123
American National Group, Inc., Pfd., 7.38%
 
179,914
4,508,645
Arch Capital Group Ltd.
 
Series G, Pfd., 4.55%(b)
 
299,867
5,337,633
Series F, Pfd., 5.45%
 
197,917
4,191,882
Aspen Insurance Holdings Ltd.
 
Pfd., 5.63% (Bermuda)
 
149,935
2,977,709
Pfd., 5.63% (Bermuda)
 
149,935
2,967,214
See accompanying notes which are an integral part of this schedule.

Invesco Financial Preferred ETF (PGF)—(continued)
January 31, 2026
(Unaudited)
 
Shares
Value
Insurance-(continued)
Athene Holding Ltd.
 
Series D, Pfd., 4.88%
 
344,803
$5,851,307
Series B, Pfd., 5.63%
 
206,882
4,106,608
Series A, Pfd., 6.35%(c)
 
517,205
12,816,340
Series E, Pfd., 7.75%(c)
 
299,829
7,753,578
AXIS Capital Holdings Ltd., Series E, Pfd.,
5.50%(b)
 
329,885
6,693,367
Brighthouse Financial, Inc.
 
Series D, Pfd., 4.63%
 
209,930
2,561,146
Series C, Pfd., 5.38%(b)
 
344,857
4,731,438
Series A, Pfd., 6.60%(b)
 
254,918
4,292,819
Series B, Pfd., 6.75%
 
241,425
4,138,024
Hartford Insurance Group, Inc. (The), Series G,
Pfd., 6.00%
 
206,936
5,198,232
Lincoln National Corp., Series D, Pfd.,
9.00%(b)
 
299,867
8,039,434
MetLife, Inc.
 
Series F, Pfd., 4.75%
 
599,683
11,993,660
Series E, Pfd., 5.63%
 
482,704
11,623,512
RenaissanceRe Holdings Ltd.
 
Series G, Pfd., 4.20% (Bermuda)(b)
 
299,867
4,845,851
Series F, Pfd., 5.75% (Bermuda)(b)
 
149,935
3,352,547
 
 
146,008,661
Total Preferred Stocks
(Cost $849,226,312)
746,472,439
 
Shares
Value
 
Money Market Funds-0.01%
 
 
 
Invesco Government & Agency Portfolio,
Institutional Class, 3.61%(d)(e)
(Cost $47,800)
 
47,800
$47,800
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.85%
(Cost $849,274,112)
746,520,239
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-0.77%
Invesco Private Government Fund,
3.65%(d)(e)(f)
 
1,606,886
1,606,886
Invesco Private Prime Fund, 3.80%(d)(e)(f)
 
4,124,338
4,125,575
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $5,732,461)
5,732,461
TOTAL INVESTMENTS IN SECURITIES-100.62%
(Cost $855,006,573)
752,252,700
OTHER ASSETS LESS LIABILITIES-(0.62)%
(4,598,185
)
NET ASSETS-100.00%
$747,654,515
Investment Abbreviations:
Pfd.
-Preferred
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at January 31, 2026.
(c)
Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate.
(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 nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
January 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$-
$33,147,841
$(33,100,041
)
$-
$-
$47,800
$23,556
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
17,074,247
25,245,653
(40,713,014
)
-
-
1,606,886
306,697
*
Invesco Private Prime Fund
44,360,035
56,080,491
(96,317,770
)
3,420
(601
)
4,125,575
822,363
*
Total
$61,434,282
$114,473,985
$(170,130,825
)
$3,420
$(601
)
$5,780,261
$1,152,616
*
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 January 31, 2026.
(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 High Yield Equity Dividend AchieversTM ETF (PEY)
January 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.89%
Air Freight & Logistics-2.87%
United Parcel Service, Inc., Class B
 
286,344
$30,415,460
Banks-13.42%
Associated Banc-Corp
 
531,835
14,497,822
Atlantic Union Bankshares Corp., Class B(b)
 
485,326
18,850,062
Regions Financial Corp.
 
626,166
17,845,731
Simmons First National Corp., Class A(b)
 
984,053
20,005,798
U.S. Bancorp
 
335,429
18,820,921
United Bankshares, Inc.
 
426,446
18,051,459
WaFd, Inc.(b)
 
430,529
14,043,856
WesBanco, Inc.
 
567,900
20,041,191
 
 
142,156,840
Capital Markets-6.61%
Franklin Resources, Inc.
 
1,004,842
26,748,894
Main Street Capital Corp.(b)
 
359,313
22,924,170
T. Rowe Price Group, Inc.
 
192,559
20,349,635
 
 
70,022,699
Chemicals-3.78%
LyondellBasell Industries N.V., Class A
 
817,587
40,061,763
Consumer Staples Distribution & Retail-2.20%
Target Corp.
 
220,524
23,258,666
Containers & Packaging-2.15%
Sonoco Products Co.(b)
 
475,552
22,826,496
Diversified Telecommunication Services-2.71%
Verizon Communications, Inc.
 
645,388
28,732,674
Electric Utilities-8.30%
Edison International
 
382,405
23,816,183
Evergy, Inc.
 
178,704
13,711,958
Eversource Energy
 
263,147
18,191,352
Pinnacle West Capital Corp.
 
173,945
16,274,294
Portland General Electric Co.
 
317,142
15,936,386
 
 
87,930,173
Food Products-8.68%
Archer-Daniels-Midland Co.
 
220,965
14,873,154
Flowers Foods, Inc.(b)
 
3,417,498
39,062,002
Hormel Foods Corp.
 
860,398
21,174,395
J.M. Smucker Co. (The)
 
160,491
16,829,086
 
 
91,938,637
Gas Utilities-4.13%
Northwest Natural Holding Co.
 
320,393
14,917,498
Spire, Inc.
 
159,567
13,481,816
UGI Corp.(b)
 
383,219
15,370,914
 
 
43,770,228
Independent Power and Renewable Electricity Producers-1.97%
AES Corp. (The)
 
1,427,512
20,913,051
Insurance-1.94%
Prudential Financial, Inc.
 
184,613
20,512,350
Leisure Products-1.46%
Polaris, Inc.
 
242,241
15,464,666
Machinery-3.77%
Stanley Black & Decker, Inc.
 
257,863
20,283,503
Trinity Industries, Inc.
 
682,920
19,627,121
 
 
39,910,624
 
Shares
Value
Media-2.88%
John Wiley & Sons, Inc., Class A(b)
 
427,627
$13,354,791
Nexstar Media Group, Inc., Class A(b)
 
80,565
17,110,395
 
 
30,465,186
Multi-Utilities-4.56%
Avista Corp.
 
457,345
18,883,775
Black Hills Corp.(b)
 
198,374
14,477,334
NorthWestern Energy Group, Inc.
 
220,153
14,939,583
 
 
48,300,692
Oil, Gas & Consumable Fuels-3.37%
Chevron Corp.
 
120,010
21,229,769
Phillips 66
 
101,141
14,519,802
 
 
35,749,571
Pharmaceuticals-8.23%
Bristol-Myers Squibb Co.
 
410,543
22,600,392
Perrigo Co. PLC
 
2,606,856
37,043,424
Pfizer, Inc.
 
1,040,161
27,501,857
 
 
87,145,673
Professional Services-7.32%
Insperity, Inc.(b)
 
768,349
32,831,553
Robert Half, Inc.(b)
 
1,292,563
44,735,605
 
 
77,567,158
Semiconductors & Semiconductor Equipment-1.36%
Skyworks Solutions, Inc.
 
259,065
14,445,464
Specialty Retail-1.48%
Best Buy Co., Inc.
 
240,974
15,687,407
Technology Hardware, Storage & Peripherals-1.42%
HP, Inc.
 
775,627
15,078,189
Tobacco-5.28%
Altria Group, Inc.
 
474,045
29,386,050
Universal Corp.
 
469,167
26,550,160
 
 
55,936,210
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.89%
(Cost $1,004,353,948)
1,058,289,877
Investments Purchased with Cash Collateral
from Securities on Loan
Money Market Funds-10.18%
Invesco Private Government Fund,
3.65%(c)(d)(e)
 
26,040,986
26,040,986
Invesco Private Prime Fund, 3.80%(c)(d)(e)
 
81,819,642
81,844,188
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $107,885,174)
107,885,174
TOTAL INVESTMENTS IN SECURITIES-110.07%
(Cost $1,112,239,122)
1,166,175,051
OTHER ASSETS LESS LIABILITIES-(10.07)%
(106,675,944
)
NET ASSETS-100.00%
$1,059,499,107
See accompanying notes which are an integral part of this schedule.

Invesco High Yield Equity Dividend AchieversTM ETF (PEY)—(continued)
January 31, 2026
(Unaudited)
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
All or a portion of this security was out on loan at January 31, 2026.
(c)
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 nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
January 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$1,989,509
$42,043,292
$(44,032,801
)
$-
$-
$-
$55,429
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
36,131,321
288,668,560
(298,758,895
)
-
-
26,040,986
662,300
*
Invesco Private Prime Fund
94,124,754
639,433,301
(651,719,004
)
5,728
(591
)
81,844,188
1,800,360
*
Total
$132,245,584
$970,145,153
$(994,510,700
)
$5,728
$(591
)
$107,885,174
$2,518,089
*
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.
(d)
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
(e)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
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
Invesco International Dividend AchieversTM ETF (PID)
January 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.67%
Canada-51.76%
BCE, Inc.
 
1,501,959
$38,840,660
Brookfield Infrastructure Partners L.P.
 
786,061
28,416,105
Brookfield Renewable Partners L.P.
 
1,078,224
32,163,422
Canadian Imperial Bank of Commerce
 
221,395
20,454,684
Canadian National Railway Co.
 
162,126
15,599,764
Canadian Natural Resources Ltd.
 
868,004
32,298,429
Enbridge, Inc.
 
673,745
32,905,706
FirstService Corp.
 
26,008
4,038,002
Fortis, Inc.
 
382,563
20,402,085
Franco-Nevada Corp.
 
20,279
4,752,586
Imperial Oil Ltd.
 
120,352
12,185,640
Magna International, Inc.
 
484,124
24,758,101
Nutrien Ltd.
 
382,620
26,358,692
Open Text Corp.
 
558,882
14,268,257
RB Global, Inc.
 
74,070
8,412,130
Restaurant Brands International, Inc.
 
277,168
18,567,484
Royal Bank of Canada
 
108,464
18,029,971
Stantec, Inc.
 
40,224
3,985,394
TC Energy Corp.
 
476,305
27,944,814
TELUS Corp.(a)
 
2,685,256
37,486,174
TFI International, Inc.
 
139,981
15,054,957
Thomson Reuters Corp.
 
77,241
8,545,172
Toronto-Dominion Bank (The)
 
253,097
23,662,038
TransAlta Corp.
 
503,649
6,436,634
 
 
475,566,901
Denmark-2.73%
Novo Nordisk A/S, ADR(a)
 
422,074
25,083,858
Germany-0.59%
SAP SE, ADR
 
26,788
5,385,460
India-2.12%
Infosys Ltd., ADR(a)
 
1,004,612
17,661,079
Reliance Industries Ltd., GDR(a)(b)
 
29,791
1,808,384
 
 
19,469,463
Indonesia-3.77%
PT Telkom Indonesia (Persero) Tbk,
ADR(a)
 
1,638,566
34,606,514
Japan-4.55%
Mitsubishi UFJ Financial Group, Inc.,
ADR(a)
 
1,040,321
18,777,794
Sony Group Corp., ADR
 
103,061
2,277,648
Sumitomo Mitsui Financial Group, Inc.,
ADR
 
986,694
20,710,707
 
 
41,766,149
Mexico-4.62%
America Movil S.A.B. de C.V., ADR
 
625,214
12,941,930
Coca-Cola FEMSA S.A.B. de C.V., ADR(a)
 
283,430
29,558,914
 
 
42,500,844
 
Shares
Value
Philippines-3.88%
PLDT, Inc., ADR(a)
 
1,580,625
$35,658,900
Switzerland-0.69%
Logitech International S.A., Class R(a)
 
74,427
6,388,814
United Kingdom-12.35%
British American Tobacco PLC, ADR
 
539,434
32,732,855
Diageo PLC, ADR(a)
 
293,588
27,244,966
National Grid PLC, ADR(a)
 
320,626
27,339,779
Pearson PLC, ADR(a)
 
1,119,631
14,734,344
RELX PLC, ADR(a)
 
318,986
11,419,699
 
 
113,471,643
United States-12.61%
Amcor PLC(a)
 
828,899
36,678,781
Amdocs Ltd.
 
209,642
17,178,065
Novartis AG, ADR(a)
 
139,819
20,788,289
Pentair PLC
 
53,744
5,663,005
Sanofi S.A., ADR
 
525,232
24,706,913
Waste Connections, Inc.
 
24,731
4,144,916
Willis Towers Watson PLC
 
21,027
6,675,442
 
 
115,835,411
Total Common Stocks & Other Equity Interests
(Cost $776,559,637)
915,733,957
Money Market Funds-0.21%
Invesco Government & Agency Portfolio,
Institutional Class, 3.61%(c)(d)
(Cost $1,948,189)
 
1,948,189
1,948,189
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.88%
(Cost $778,507,826)
917,682,146
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-18.31%
Invesco Private Government Fund,
3.65%(c)(d)(e)
 
49,099,349
49,099,349
Invesco Private Prime Fund, 3.80%(c)(d)(e)
 
119,133,955
119,169,695
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $168,269,044)
168,269,044
TOTAL INVESTMENTS IN SECURITIES-118.19%
(Cost $946,776,870)
1,085,951,190
OTHER ASSETS LESS LIABILITIES-(18.19)%
(167,133,890
)
NET ASSETS-100.00%
$918,817,300
See accompanying notes which are an integral part of this schedule.

Invesco International Dividend AchieversTM ETF (PID)—(continued)
January 31, 2026
(Unaudited)
Investment Abbreviations:
ADR-American Depositary Receipt
GDR-Global Depositary Receipt
Notes to Schedule of Investments:
(a)
All or a portion of this security was out on loan at January 31, 2026.
(b)
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 January 31, 2026
represented less than 1% of the Fund’s Net Assets.
(c)
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 nine months ended January 31, 2026.
 
Value
April 30, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
January 31, 2026
Dividend Income
Investments in
Affiliated Money
Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$216,653
$20,860,437
$(19,128,901
)
$-
$-
$1,948,189
$26,425
Investments
Purchased with Cash
Collateral from
Securities on Loan:
Invesco Private
Government Fund
40,329,050
458,053,397
(449,283,098
)
-
-
49,099,349
1,272,910
*
Invesco Private Prime
Fund
104,904,546
872,016,665
(857,754,415
)
6,633
(3,734
)
119,169,695
3,473,124
*
Total
$145,450,249
$1,350,930,499
$(1,326,166,414
)
$6,633
$(3,734
)
$170,217,233
$4,772,459
*
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.
(d)
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
(e)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
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.

Notes to Quarterly Schedules of Portfolio Holdings
January 31, 2026
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of January 31, 2026, for each Fund (except for Invesco Dow Jones Industrial Average Dividend ETF). As of January 31, 2026, all of the securities in Invesco Dow Jones Industrial Average Dividend ETF were valued based on Level 1 inputs (see the Schedules of Investments for security categories). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
 
Level 1
Level 2
Level 3
Total
Invesco BuyBack AchieversTM ETF
Investments in Securities
Common Stocks & Other Equity Interests
$1,606,343,956
$-
$-
$1,606,343,956
Money Market Funds
353,998
90,186,168
-
90,540,166
Total Investments
$1,606,697,954
$90,186,168
$-
$1,696,884,122
Invesco Dividend AchieversTM ETF
Investments in Securities
Common Stocks & Other Equity Interests
$761,753,412
$-
$-
$761,753,412
Money Market Funds
651,297
4,496,304
-
5,147,601
Total Investments
$762,404,709
$4,496,304
$-
$766,901,013
Invesco Financial Preferred ETF
Investments in Securities
Preferred Stocks
$746,472,439
$-
$-
$746,472,439
Money Market Funds
47,800
5,732,461
-
5,780,261
Total Investments
$746,520,239
$5,732,461
$-
$752,252,700
Invesco High Yield Equity Dividend AchieversTM ETF
Investments in Securities
Common Stocks & Other Equity Interests
$1,058,289,877
$-
$-
$1,058,289,877
Money Market Funds
-
107,885,174
-
107,885,174
Total Investments
$1,058,289,877
$107,885,174
$-
$1,166,175,051
Invesco International Dividend AchieversTM ETF
Investments in Securities
Common Stocks & Other Equity Interests
$913,925,573
$1,808,384
$-
$915,733,957
Money Market Funds
1,948,189
168,269,044
-
170,217,233
Total Investments
$915,873,762
$170,077,428
$-
$1,085,951,190