|
|
Shares
|
Value
|
|
|
Exchange-Traded Funds–86.69%
|
|||
|
Invesco Emerging Markets Sovereign
Debt ETF(b)(c)
|
918,700
|
$19,807,172
|
|
|
Invesco High Yield Bond Factor ETF(b)(c)
|
1,076,000
|
24,409,060
|
|
|
Invesco International Developed
Dynamic Multifactor ETF(b)(c)
|
5,640,300
|
180,038,376
|
|
|
Invesco MSCI USA ETF(b)(c)
|
894,610
|
62,027,784
|
|
|
Invesco Russell 1000® Dynamic
Multifactor ETF(b)
|
3,412,990
|
214,318,707
|
|
|
Invesco Russell 2000® Dynamic
Multifactor ETF(b)
|
1,424,500
|
66,937,255
|
|
|
Invesco S&P 500 Revenue ETF(b)
|
452,360
|
53,351,339
|
|
|
Invesco Senior Loan ETF(b)(c)
|
960,000
|
19,910,400
|
|
|
Invesco Total Return Bond ETF(b)
|
1,685,000
|
79,936,400
|
|
|
Invesco Variable Rate Investment
Grade ETF(b)
|
2,790,000
|
70,084,800
|
|
|
iShares Core MSCI Emerging Markets
ETF(c)
|
924,573
|
67,087,017
|
|
|
iShares Fallen Angels USD Bond ETF(c)
|
1,290,000
|
35,565,300
|
|
|
Total Exchange-Traded Funds
(Cost $701,476,100)
|
893,473,610
|
||
|
|
Principal
Amount
|
|
|
|
U.S. Treasury Securities–12.24%
|
|||
|
U.S. Treasury Bills–0.03%
|
|||
|
3.58% - 4.12%,
05/14/2026(d)
|
|
$339,000
|
335,619
|
|
U.S. Treasury Bonds–12.21%
|
|||
|
4.50%, 05/15/2038(e)
|
|
124,275,000
|
125,859,992
|
|
Total U.S. Treasury Securities
(Cost $128,142,211)
|
126,195,611
|
||
|
|
Shares |
|
|
|
Preferred Stocks–0.00%
|
|||
|
Diversified Banks–0.00%
|
|||
|
Socium Re Ltd., Series 2019-1, Pfd.(f)
|
9,884
|
13,482
|
|
|
|
Shares
|
Value
|
|
|
Diversified Support Services–0.00%
|
|||
|
Viribus Re Ltd., Pfd.(f)
|
351,641
|
$33,963
|
|
|
Total Preferred Stocks (Cost $370,577)
|
47,445
|
||
|
Common Stocks & Other Equity Interests–0.00%
|
|||
|
Diversified Banks–0.00%
|
|||
|
Sberbank of Russia PJSC (Russia)(f)(g)
|
11,951
|
0
|
|
|
Health Care Services–0.00%
|
|||
|
New Horizon Health Ltd. (China)(f)
|
77,000
|
1,970
|
|
|
Total Common Stocks & Other Equity Interests
(Cost $330,053)
|
1,970
|
||
|
TOTAL INVESTMENTS IN SECURITIES
(excluding investments
purchased with cash collateral
from securities on
loan)-98.93%
(Cost $830,318,941)
|
|
|
1,019,718,636
|
|
Investments Purchased with Cash Collateral from
Securities on Loan
|
|||
|
Money Market Funds–6.28%
|
|||
|
Invesco Private Government Fund,
3.65%(b)(h)(i)
|
17,802,359
|
17,802,359
|
|
|
Invesco Private Prime Fund,
3.80%(b)(h)(i)
|
46,859,978
|
46,874,036
|
|
|
Total Investments Purchased with Cash Collateral
from Securities on Loan (Cost $64,676,395)
|
64,676,395
|
||
|
TOTAL INVESTMENTS IN SECURITIES–105.21%
(Cost $894,995,336)
|
1,084,395,031
|
||
|
OTHER ASSETS LESS LIABILITIES—(5.21)%
|
(53,689,283
)
|
||
|
NET ASSETS–100.00%
|
$1,030,705,748
|
||
|
ETF
|
– Exchange-Traded Fund
|
|
Pfd.
|
– Preferred
|
|
USD
|
– U.S. Dollar
|
|
(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 three months ended January 31, 2026.
|
|
|
Value
October 31, 2025
|
Purchases
at Cost
|
Proceeds
from Sales
|
Change in
Unrealized
Appreciation
(Depreciation)
|
Realized
Gain
|
Value
January 31, 2026
|
Dividend Income
|
|
Invesco Emerging Markets Sovereign Debt
ETF
|
$8,391,530
|
$11,726,473
|
$-
|
$(310,831)
|
$-
|
$19,807,172
|
$238,445
|
|
Invesco High Yield Bond Factor ETF
|
24,380,438
|
-
|
-
|
28,622
|
-
|
24,409,060
|
413,270
|
|
Invesco International Developed Dynamic
Multifactor ETF
|
167,131,029
|
-
|
(4,973,700)
|
16,919,937
|
961,110
|
180,038,376
|
1,501,504
|
|
Invesco MSCI USA ETF
|
53,791,218
|
10,039,609
|
(2,301,350)
|
451,305
|
47,002
|
62,027,784
|
136,312
|
|
Invesco Russell 1000® Dynamic Multifactor
ETF
|
219,755,619
|
-
|
(15,181,798)
|
1,142,973
|
8,601,913
|
214,318,707
|
569,611
|
|
Invesco Russell 2000® Dynamic Multifactor
ETF
|
62,096,092
|
-
|
-
|
4,841,163
|
-
|
66,937,255
|
146,225
|
|
Invesco S&P 500 Revenue ETF
|
52,592,490
|
-
|
(2,017,531)
|
2,722,323
|
54,057
|
53,351,339
|
177,045
|
|
Invesco Senior Loan ETF
|
-
|
20,073,600
|
-
|
(163,200)
|
-
|
19,910,400
|
202,166
|
|
Invesco Total Return Bond ETF
|
-
|
80,222,850
|
-
|
(286,450)
|
-
|
79,936,400
|
630,460
|
|
Invesco Variable Rate Investment Grade ETF
|
-
|
70,029,000
|
-
|
55,800
|
-
|
70,084,800
|
546,617
|
|
Investments in Affiliated Money Market
Funds:
|
|
|
|
|
|
|
|
|
Invesco Government & Agency Portfolio,
Institutional Class
|
-
|
49,933,098
|
(49,933,098)
|
-
|
-
|
-
|
8,051
|
|
Invesco Treasury Portfolio, Institutional
Class
|
-
|
92,732,895
|
(92,732,895)
|
-
|
-
|
-
|
14,781
|
|
Investments Purchased with Cash
Collateral from Securities on Loan:
|
|
|
|
|
|
|
|
|
Invesco Private Government Fund
|
49,703
|
188,171,031
|
(170,418,375)
|
-
|
-
|
17,802,359
|
137,695*
|
|
Invesco Private Prime Fund
|
128,642
|
333,815,881
|
(287,070,487)
|
-
|
-
|
46,874,036
|
402,824*
|
|
Total
|
$588,316,761
|
$856,744,437
|
$(624,629,234)
|
$25,401,642
|
$9,664,082
|
$855,497,688
|
$5,125,006
|
|
*
|
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)
|
All or a portion of this security was out on loan at January 31, 2026.
|
|
(d)
|
Security traded on a discount basis. The interest rate shown represents the discount
rate at the time of purchase by the Fund.
|
|
(e)
|
All or a portion of the value was pledged as collateral to cover margin requirements
for open futures contracts.
|
|
(f)
|
Security valued using significant unobservable inputs (Level 3). See Note 1.
|
|
(g)
|
Non-income producing security.
|
|
(h)
|
The rate shown is the 7-day SEC standardized yield as of January 31, 2026.
|
|
(i)
|
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.
|
|
Open Futures Contracts(a)
|
|||||
|
Long Futures Contracts
|
Number of
Contracts
|
Expiration
Month
|
Notional
Value
|
Value
|
Unrealized
Appreciation
(Depreciation)
|
|
Equity Risk
|
|||||
|
E-Mini S&P 500 Index
|
433
|
March-2026
|
$150,808,487
|
$1,670,622
|
$1,670,622
|
|
MSCI Emerging Markets Index
|
160
|
March-2026
|
12,166,400
|
1,104,549
|
1,104,549
|
|
STOXX Europe 600 Index
|
89
|
March-2026
|
3,221,324
|
143,425
|
143,425
|
|
Subtotal—Long Futures Contracts
|
2,918,596
|
2,918,596
|
|||
|
Open Futures Contracts(a)—(continued)
|
|||||
|
Short Futures Contracts
|
Number of
Contracts
|
Expiration
Month
|
Notional
Value
|
Value
|
Unrealized
Appreciation
(Depreciation)
|
|
Equity Risk
|
|||||
|
E-Mini Russell 1000 Value Index
|
512
|
March-2026
|
$(55,516,160
)
|
$(1,983,766
)
|
$(1,983,766
)
|
|
E-Mini Russell 2000 Index
|
520
|
March-2026
|
(68,239,600
)
|
(1,334,095
)
|
(1,334,095
)
|
|
Nikkei 225 Index
|
4
|
March-2026
|
(1,379,943
)
|
(81,160
)
|
(81,160
)
|
|
S&P/TSX 60 Index
|
1
|
March-2026
|
(272,126
)
|
37
|
37
|
|
Subtotal—Short Futures Contracts
|
(3,398,984
)
|
(3,398,984
)
|
|||
|
Total Futures Contracts
|
$(480,388
)
|
$(480,388
)
|
|||
|
(a)
|
Futures contracts collateralized by $1,218,243 cash held with Merrill Lynch International,
the futures commission merchant.
|
|
Open Forward Foreign Currency Contracts
|
||||||
|
Settlement
Date
|
Counterparty
|
Contract to
|
Unrealized
Appreciation
(Depreciation)
|
|||
|
Deliver
|
Receive
|
|||||
|
Currency Risk
|
|
|
|
|
|
|
|
03/18/2026
|
BNP Paribas S.A.
|
USD
|
35,604,526
|
EUR
|
30,344,000
|
$436,644
|
|
03/18/2026
|
Citibank, N.A.
|
THB
|
457,340,000
|
USD
|
14,681,862
|
104,615
|
|
03/18/2026
|
Deutsche Bank AG
|
CNY
|
100,345,000
|
USD
|
14,431,649
|
8,876
|
|
03/18/2026
|
Goldman Sachs International
|
USD
|
15,367,246
|
MYR
|
61,930,000
|
365,129
|
|
03/18/2026
|
Goldman Sachs International
|
USD
|
51,392
|
PLN
|
185,000
|
671
|
|
03/03/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
15,181,544
|
BRL
|
82,040,000
|
308,954
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
13,712,075
|
AUD
|
20,360,000
|
464,135
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
5,284,071
|
CAD
|
7,265,000
|
61,327
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
2,240,042
|
DKK
|
14,250,000
|
27,356
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
268,834
|
HUF
|
88,770,000
|
6,216
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
22,486,244
|
JPY
|
3,502,850,000
|
231,359
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
USD
|
13,671,239
|
NOK
|
137,325,000
|
585,244
|
|
03/18/2026
|
Merrill Lynch International
|
USD
|
15,838,558
|
COP
|
59,766,800,000
|
191,634
|
|
03/18/2026
|
Merrill Lynch International
|
USD
|
1,997,835
|
ZAR
|
32,835,000
|
28,391
|
|
03/18/2026
|
Standard Chartered Bank PLC
|
USD
|
14,300,773
|
SGD
|
18,220,000
|
64,793
|
|
03/18/2026
|
UBS AG
|
KRW
|
32,056,180,000
|
USD
|
22,200,762
|
71,321
|
|
Subtotal—Appreciation
|
2,956,665
|
|||||
|
Currency Risk
|
|
|
|
|
|
|
|
03/18/2026
|
BNP Paribas S.A.
|
USD
|
8,134,627
|
HKD
|
63,240,000
|
(27,919
)
|
|
03/17/2026
|
Citibank, N.A.
|
USD
|
14,675,448
|
IDR
|
246,264,300,000
|
(7,538
)
|
|
03/18/2026
|
Citibank, N.A.
|
ILS
|
1,470,000
|
USD
|
464,372
|
(10,042
)
|
|
03/18/2026
|
Citibank, N.A.
|
PHP
|
828,920,000
|
USD
|
13,932,599
|
(115,758
)
|
|
03/18/2026
|
Deutsche Bank AG
|
USD
|
4,512,547
|
TWD
|
142,425,000
|
(13,166
)
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
CLP
|
432,460,000
|
USD
|
487,356
|
(7,401
)
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
GBP
|
15,195,000
|
USD
|
20,518,819
|
(272,135
)
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
NZD
|
23,420,000
|
USD
|
13,579,492
|
(544,165
)
|
|
03/18/2026
|
J.P. Morgan Chase Bank, N.A.
|
SEK
|
136,144,000
|
USD
|
14,861,621
|
(455,817
)
|
|
03/18/2026
|
Merrill Lynch International
|
CZK
|
300,790,000
|
USD
|
14,576,104
|
(79,365
)
|
|
03/18/2026
|
Morgan Stanley and Co. International PLC
|
CHF
|
12,680,000
|
USD
|
16,064,143
|
(414,221
)
|
|
03/18/2026
|
Morgan Stanley and Co. International PLC
|
USD
|
480,965
|
PEN
|
1,620,000
|
(606
)
|
|
03/18/2026
|
UBS AG
|
MXN
|
335,000
|
USD
|
18,524
|
(570
)
|
|
03/18/2026
|
UBS AG
|
USD
|
16,825,482
|
INR
|
1,524,710,000
|
(254,102
)
|
|
Subtotal—Depreciation
|
(2,202,805
)
|
|||||
|
Total Forward Foreign Currency Contracts
|
$753,860
|
|||||
|
Abbreviations:
|
|
|
AUD
|
—Australian Dollar
|
|
BRL
|
—Brazilian Real
|
|
CAD
|
—Canadian Dollar
|
|
CHF
|
—Swiss Franc
|
|
CLP
|
—Chile Peso
|
|
CNY
|
—Chinese Yuan Renminbi
|
|
COP
|
—Colombia Peso
|
|
CZK
|
—Czech Koruna
|
|
DKK
|
—Danish Krone
|
|
EUR
|
—Euro
|
|
GBP
|
—British Pound Sterling
|
|
HKD
|
—Hong Kong Dollar
|
|
HUF
|
—Hungarian Forint
|
|
IDR
|
—Indonesian Rupiah
|
|
ILS
|
—Israel Shekel
|
|
INR
|
—Indian Rupee
|
|
JPY
|
—Japanese Yen
|
|
KRW
|
—South Korean Won
|
|
MXN
|
—Mexican Peso
|
|
MYR
|
—Malaysian Ringgit
|
|
NOK
|
—Norwegian Krone
|
|
NZD
|
—New Zealand Dollar
|
|
PEN
|
—Peruvian Sol
|
|
PHP
|
—Philippines Peso
|
|
PLN
|
—Polish Zloty
|
|
SEK
|
—Swedish Krona
|
|
SGD
|
—Singapore Dollar
|
|
THB
|
—Thai Baht
|
|
TWD
|
—New Taiwan Dollar
|
|
USD
|
—U.S. Dollar
|
|
ZAR
|
—South African Rand
|
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Investments in Securities
|
|
|
|
|
|
Exchange-Traded Funds
|
$893,473,610
|
$—
|
$—
|
$893,473,610
|
|
U.S. Treasury Securities
|
—
|
126,195,611
|
—
|
126,195,611
|
|
Preferred Stocks
|
—
|
—
|
47,445
|
47,445
|
|
Common Stocks & Other Equity Interests
|
—
|
—
|
1,970
|
1,970
|
|
Money Market Funds
|
—
|
64,676,395
|
—
|
64,676,395
|
|
Total Investments in Securities
|
893,473,610
|
190,872,006
|
49,415
|
1,084,395,031
|
|
Other Investments - Assets*
|
|
|
|
|
|
Futures Contracts
|
2,918,633
|
—
|
—
|
2,918,633
|
|
Forward Foreign Currency Contracts
|
—
|
2,956,665
|
—
|
2,956,665
|
|
|
2,918,633
|
2,956,665
|
—
|
5,875,298
|
|
Other Investments - Liabilities*
|
|
|
|
|
|
Futures Contracts
|
(3,399,021
)
|
—
|
—
|
(3,399,021
)
|
|
Forward Foreign Currency Contracts
|
—
|
(2,202,805
)
|
—
|
(2,202,805
)
|
|
|
(3,399,021
)
|
(2,202,805
)
|
—
|
(5,601,826
)
|
|
Total Other Investments
|
(480,388
)
|
753,860
|
—
|
273,472
|
|
Total Investments
|
$892,993,222
|
$191,625,866
|
$49,415
|
$1,084,668,503
|
|
*
|
Unrealized appreciation (depreciation).
|