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AIM Investment Funds (Invesco Investment Funds)
2026-04-30
Invesco Balanced-Risk Allocation Fund
Class A
ABRZX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Allocation Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>71</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.32<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
71
0.0132
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>961,528,132</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">154</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">62<span>%</span></td> </tr> </table>
961528132
154
0.62
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">70.28%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">108.48%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">36.13%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">214.89%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117686.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Allocation Fund
Class C
ABRCX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Allocation Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>111</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">2.07<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
111
0.0207
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>961,528,132</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">154</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">62<span>%</span></td> </tr> </table>
961528132
154
0.62
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">70.28%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">108.48%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">36.13%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">214.89%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117650.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Allocation Fund
Class R
ABRRX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Allocation Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>85</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.57<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
85
0.0157
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>961,528,132</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">154</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">62<span>%</span></td> </tr> </table>
961528132
154
0.62
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">70.28%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">108.48%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">36.13%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">214.89%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117615.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Allocation Fund
Class R5
ABRIX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Allocation Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>55</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.03<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
55
0.0103
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>961,528,132</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">154</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">62<span>%</span></td> </tr> </table>
961528132
154
0.62
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">70.28%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">108.48%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">36.13%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">214.89%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117817.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Allocation Fund
Class R6
ALLFX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div><div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Balanced-Risk Allocation Fund<br/>(Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>52</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.96<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td>
</tr>
</table><table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;"><sup style="font-size: 6pt; vertical-align: super;">†</sup></div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div>
</td>
</tr>
</table>
52
0.0096
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div><table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>961,528,132</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">154</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">62<span>%</span></td>
</tr>
</table>
961528132
154
0.62
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Target risk contribution and</b> <br/><b>notional asset weights</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"><strong>Notional Asset Exposure Weights**</strong></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">70.28%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">108.48%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">36.13%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">214.89%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/><br/>** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of net assets)</b></div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117781.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Allocation Fund
Class Y
ABRYX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Allocation Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>58</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.07<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
58
0.0107
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>961,528,132</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">154</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">62<span>%</span></td> </tr> </table>
961528132
154
0.62
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Equities and Options</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">37.24%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">70.28%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Fixed Income</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">23.84%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">108.48%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Commodities</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">38.92%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">36.13%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">214.89%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117745.jpg" style="width: 172.8pt;"/> </div>
0.3724
0.7028
0.2384
1.0848
0.3892
0.3613
1.0000
2.1489
Invesco Balanced-Risk Commodity Strategy Fund
Class A
BRCAX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Commodity Strategy Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>78</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.31<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
78
0.0131
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,271,058,174</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">39</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">46<span>%</span></td> </tr> </table>
1271058174
39
0.46
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.55%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.95%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">20.37%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">24.23%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.10%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118249.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Balanced-Risk Commodity Strategy Fund
Class C
BRCCX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Commodity Strategy Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>122</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">2.06<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
122
0.0206
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,271,058,174</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">39</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">46<span>%</span></td> </tr> </table>
1271058174
39
0.46
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.55%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.95%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">20.37%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">24.23%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.10%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118285.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Balanced-Risk Commodity Strategy Fund
Class R
BRCRX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Commodity Strategy Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>92</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.56<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
92
0.0156
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,271,058,174</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">39</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">46<span>%</span></td> </tr> </table>
1271058174
39
0.46
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.55%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.95%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">20.37%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">24.23%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.10%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118321.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Balanced-Risk Commodity Strategy Fund
Class R5
BRCNX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Commodity Strategy Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>61</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.03<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
61
0.0103
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,271,058,174</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">39</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">46<span>%</span></td> </tr> </table>
1271058174
39
0.46
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.55%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.95%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">20.37%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">24.23%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.10%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118393.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Balanced-Risk Commodity Strategy Fund
Class R6
IBRFX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Balanced-Risk Commodity Strategy Fund<br/>(Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>59</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.00<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;"><sup style="font-size: 6pt; vertical-align: super;">†</sup></div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div>
</td>
</tr>
</table>
59
0.0100
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,271,058,174</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">39</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">46<span>%</span></td>
</tr>
</table>
1271058174
39
0.46
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Target risk contribution and</b> <br/><b>notional asset weights</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"><strong>Notional Asset Exposure Weights**</strong></td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">32.55%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">32.95%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">20.37%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">24.23%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;">100.10%</td>
</tr>
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; padding: 6pt 3pt 3pt 3pt;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/><br/>** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of net assets)</b></div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118429.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Balanced-Risk Commodity Strategy Fund
Class Y
BRCYX
This semi-annual shareholder report contains important information about Invesco Balanced-Risk Commodity Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Balanced-Risk Commodity Strategy Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>63</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.06<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
63
0.0106
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,271,058,174</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">39</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">46<span>%</span></td> </tr> </table>
1271058174
39
0.46
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Target risk contribution and</b> <br/> <b>notional asset weights</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;"><strong>Asset Class</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Target Risk Contribution*</strong></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"><strong>Notional Asset Exposure Weights**</strong></td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Agriculture</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">21.94%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.55%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Energy</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">47.30%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">32.95%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Industrial Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">16.43%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">20.37%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Precious Metals</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">14.33%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">24.23%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">Total</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.00%</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;">100.10%</td> </tr>
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left;">* Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns. <br/> <br/> ** Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118357.jpg" style="width: 172.8pt;"/> </div>
0.2194
0.3255
0.4730
0.3295
0.1643
0.2037
0.1433
0.2423
1.0000
1.0010
Invesco Core Bond Fund
Class A
OPIGX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>35</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.70<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
35
0.0070
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119941.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Core Bond Fund
Class C
OPBCX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>72</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.45<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
72
0.0145
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119977.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Core Bond Fund
Class R
OPBNX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>47</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.95<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
47
0.0095
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120013.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Core Bond Fund
Class R5
TRTMX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>18</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.37<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
18
0.0037
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120085.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Core Bond Fund
Class R6
OPBIX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>18</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.36<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
18
0.0036
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120121.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Core Bond Fund
Class Y
OPBYX
This semi-annual shareholder report contains important information about Invesco Core Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Core Bond Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>22</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.45<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
22
0.0045
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>2,837,460,446</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">1,980</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">305<span>%</span></td> </tr> </table>
2837460446
1980
3.05
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of total investments)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120049.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 5.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 03/31/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 11/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.28<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.13%, 02/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.00%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Uniform Mortgage-Backed Securities, TBA, 3.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Government National Mortgage Association, TBA, 2.50%, 05/01/2056</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 04/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0397
0.0339
0.0328
0.0296
0.0253
0.0253
0.0221
0.0161
0.0154
0.0149
Invesco Developing Markets Fund
Class A
ODMAX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Developing Markets Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>72</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.36<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
72
0.0136
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>8,754,587,537</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">77</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">10<span>%</span></td> </tr> </table>
8754587537
77
0.10
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118645.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Developing Markets Fund
Class C
ODVCX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Developing Markets Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>111</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">2.11<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
111
0.0211
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>8,754,587,537</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">77</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">10<span>%</span></td> </tr> </table>
8754587537
77
0.10
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118681.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Developing Markets Fund
Class R
ODVNX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Developing Markets Fund<br/>(Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>85</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.61<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
85
0.0161
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>8,754,587,537</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">77</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">10<span>%</span></td>
</tr>
</table>
8754587537
77
0.10
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118717.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Developing Markets Fund
Class R5
DVMFX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Developing Markets Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>53</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.00<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
53
0.0100
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>8,754,587,537</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">77</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">10<span>%</span></td> </tr> </table>
8754587537
77
0.10
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118753.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">13.73<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.57<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.97<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.25<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Developing Markets Fund
Class R6
ODVIX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Developing Markets Fund<br/>(Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>49</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.93<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
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49
0.0093
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>8,754,587,537</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">77</td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">10<span>%</span></td>
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8754587537
77
0.10
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
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<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118789.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Developing Markets Fund
Class Y
ODVYX
This semi-annual shareholder report contains important information about Invesco Developing Markets Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Developing Markets Fund<br/>(Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>59</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.11<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
59
0.0111
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>8,754,587,537</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">77</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">10<span>%</span></td>
</tr>
</table>
8754587537
77
0.10
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Sector allocation </b> <br/><b>(% of net assets)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118825.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">13.73<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">8.57<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tencent Holdings Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.97<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.74<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HDFC Bank Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.27<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">AIA Group Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vale S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.32<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.17<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Inner Mongolia Yili Industrial Group Co. Ltd., A Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.07<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.1373
0.0857
0.0497
0.0374
0.0327
0.0261
0.0232
0.0225
0.0217
0.0207
Invesco Discovery Mid Cap Growth Fund
Class A
OEGAX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>55</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.04<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
55
0.0104
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118861.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Discovery Mid Cap Growth Fund
Class C
OEGCX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>94</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.78<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
94
0.0178
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118897.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Discovery Mid Cap Growth Fund
Class R
OEGNX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>68</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.29<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
68
0.0129
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118933.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Discovery Mid Cap Growth Fund
Class R5
DMCFX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>39</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.74<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
39
0.0074
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118969.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Discovery Mid Cap Growth Fund
Class R6
OEGIX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>35</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.67<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
35
0.0067
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119005.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Discovery Mid Cap Growth Fund
Class Y
OEGYX
This semi-annual shareholder report contains important information about Invesco Discovery Mid Cap Growth Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Discovery Mid Cap Growth Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>42</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.79<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
42
0.0079
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>6,714,324,009</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">78</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
6714324009
78
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119041.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Comfort Systems USA, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Quanta Services, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Monolithic Power Systems, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.49<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Hilton Worldwide Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Flex Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.74<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MasTec, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vertiv Holdings Co., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.37<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lattice Semiconductor Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.36<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Lumentum Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.07<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MACOM Technology Solutions Holdings, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0360
0.0358
0.0349
0.0305
0.0274
0.0254
0.0237
0.0236
0.0207
0.0205
Invesco Emerging Markets ex-China Fund
Class A
GTDDX
This semi-annual shareholder report contains important information about Invesco Emerging Markets ex-China Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets ex-China Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>77</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.39<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
77
0.0139
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,204,858,072</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">59</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">11<span>%</span></td> </tr> </table>
1204858072
59
0.11
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117853.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1734
0.0918
0.0306
0.0288
0.0288
0.0287
0.0277
0.0265
0.0253
0.0245
Invesco Emerging Markets ex-China Fund
Class C
GTDCX
This semi-annual shareholder report contains important information about Invesco Emerging Markets ex-China Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets ex-China Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>119</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">2.14<span>%</span></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table> </div>
119
0.0214
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,204,858,072</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">59</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">11<span>%</span></td> </tr> </table>
1204858072
59
0.11
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117889.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1734
0.0918
0.0306
0.0288
0.0288
0.0287
0.0277
0.0265
0.0253
0.0245
Invesco Emerging Markets ex-China Fund
Class R5
GTDIX
This semi-annual shareholder report contains important information about Invesco Emerging Markets ex-China Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets ex-China Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>60</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.08<span>%</span></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table> </div>
60
0.0108
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,204,858,072</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">59</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">11<span>%</span></td> </tr> </table>
1204858072
59
0.11
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117997.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1734
0.0918
0.0306
0.0288
0.0288
0.0287
0.0277
0.0265
0.0253
0.0245
Invesco Emerging Markets ex-China Fund
Class R6
GTDFX
This semi-annual shareholder report contains important information about Invesco Emerging Markets ex-China Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets ex-China Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>57</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.02<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
57
0.0102
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,204,858,072</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">59</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">11<span>%</span></td> </tr> </table>
1204858072
59
0.11
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117961.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1734
0.0918
0.0306
0.0288
0.0288
0.0287
0.0277
0.0265
0.0253
0.0245
Invesco Emerging Markets ex-China Fund
Class Y
GTDYX
This semi-annual shareholder report contains important information about Invesco Emerging Markets ex-China Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets ex-China Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>64</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.14<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
64
0.0114
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,204,858,072</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">59</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">11<span>%</span></td> </tr> </table>
1204858072
59
0.11
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10117925.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Taiwan Semiconductor Manufacturing Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">17.34<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electronics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">MediaTek, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.06<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">HDFC Bank Ltd., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Petroleo Brasileiro S.A., ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Kasikornbank PCL, Foreign Shares</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.87<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Yageo Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.77<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Samsung Electro-Mechanics Co. Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Vale S.A.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.53<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Naspers Ltd.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.45<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.1734
0.0918
0.0306
0.0288
0.0288
0.0287
0.0277
0.0265
0.0253
0.0245
Invesco Emerging Markets Local Debt Fund
Class A
OEMAX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>60</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.19<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
60
0.0119
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119725.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Emerging Markets Local Debt Fund
Class C
OEMCX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>97</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.94<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
97
0.0194
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119761.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Emerging Markets Local Debt Fund
Class R
OEMNX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>72</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.44<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
72
0.0144
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119797.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Emerging Markets Local Debt Fund
Class R5
EMLDX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>44</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.87<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
44
0.0087
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119869.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Emerging Markets Local Debt Fund
Class R6
OEMIX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>43</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.86<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
43
0.0086
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119905.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Emerging Markets Local Debt Fund
Class Y
OEMYX
This semi-annual shareholder report contains important information about Invesco Emerging Markets Local Debt Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Emerging Markets Local Debt Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>47</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.94<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
47
0.0094
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>105,241,304</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">539</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">49<span>%</span></td> </tr> </table>
105241304
539
0.49
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Sector allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119833.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.00%, 04/15/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.84<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Malaysia Government Bond, Series 219, 3.89%, 08/15/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2044, 8.75%, 01/31/2044</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.50<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Colombian TES, Series B, 7.00%, 03/26/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.70<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of Poland Government Bond, Series 432, 1.75%, 04/25/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Indonesia Treasury Bond, Series FR96, 7.00%, 02/15/2033</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Romania Government Bond, 8.00%, 04/29/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.17<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Thailand Government Bond, 3.45%, 06/17/2043</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.96<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0489
0.0484
0.0366
0.0350
0.0332
0.0270
0.0258
0.0221
0.0217
0.0196
Invesco Global Allocation Fund
Class A
QVGIX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>51</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.99<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
51
0.0099
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119293.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Allocation Fund
Class C
QGRCX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>89</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.74<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
89
0.0174
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119329.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Allocation Fund
Class R
QGRNX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>64</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.24<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
64
0.0124
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119365.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Allocation Fund
Class R5
GLALX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>32</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.63<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
32
0.0063
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119437.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Allocation Fund
Class R6
QGRIX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>32</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.63<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
32
0.0063
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119473.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Allocation Fund
Class Y
QGRYX
This semi-annual shareholder report contains important information about Invesco Global Allocation Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Global Allocation Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>38</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.74<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
38
0.0074
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,039,411,850</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">89</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">45<span>%</span></td> </tr> </table>
1039411850
89
0.45
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119401.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 1000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">20.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco International Developed Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Inflation - Indexed Notes, 1.88%, 01/15/2036</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Total Return Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">7.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">iShares Core MSCI Emerging Markets ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.98<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Russell 2000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Dynamic Multifactor ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.81<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Variable Rate Investment Grade ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">6.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Revenue ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.39<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI USA ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.50%, 05/15/2038</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.27<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2059
0.1805
0.0981
0.0760
0.0698
0.0681
0.0667
0.0539
0.0529
0.0427
Invesco Global Strategic Income Fund
Class A
OPSIX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>51</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.02<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
51
0.0102
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
</tr>
</table>
1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119509.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Global Strategic Income Fund
Class C
OSICX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>88</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.78<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
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88
0.0178
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
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1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
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<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119545.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Global Strategic Income Fund
Class R
OSINX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>63</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.28<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
63
0.0128
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
</tr>
</table>
1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119581.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Global Strategic Income Fund
Class R5
GLSSX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>34</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
34
0.0068
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
</tr>
</table>
1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119653.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Global Strategic Income Fund
Class R6
OSIIX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>34</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.68<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
34
0.0068
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
</tr>
</table>
1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119689.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Global Strategic Income Fund
Class Y
OSIYX
This semi-annual shareholder report contains important information about Invesco Global Strategic Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Strategic Income Fund<br/>(Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>39</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.78<span>%</span></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
</table>
39
0.0078
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>1,685,251,948</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">1,112</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">32<span>%</span></td>
</tr>
</table>
1685251948
1112
0.32
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of total investments)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119617.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.67<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bonds, 5.50%, 08/15/2028</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.80<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.25<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.22<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.12<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.10<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mortgage Funding PLC, Series 2008-1, Class B2, 7.07%, 03/13/2046</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Federal Home Loan Mortgage Corp., 4.50%, 10/01/2052</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.09<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.0567
0.0421
0.0280
0.0258
0.0125
0.0122
0.0112
0.0110
0.0109
0.0109
Invesco Health Care Fund
Class A
GGHCX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>51</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.05<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
51
0.0105
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118465.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco Health Care Fund
Class C
GTHCX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>88</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.80<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
88
0.0180
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118501.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco Health Care Fund
Class R
GTHRX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>63</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.30<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
63
0.0130
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120373.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco Health Care Fund
Class R6
GGHSX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>34</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.70<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
34
0.0070
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118609.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco Health Care Fund
Class Y
GGHYX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>39</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.80<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
39
0.0080
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118537.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco Health Care Fund
Investor Class
GTHIX
This semi-annual shareholder report contains important information about Invesco Health Care Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Health Care Fund<br/> (Investor Class)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>51</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.05<span>%</span></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr> </table>
51
0.0105
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,130,302,568</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">82</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">31<span>%</span></td> </tr> </table>
1130302568
82
0.31
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Industry allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118573.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Eli Lilly and Co.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">5.85<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AstraZeneca PLC</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.18<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Gilead Sciences, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.90<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">UnitedHealth Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.79<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">argenx SE, ADR</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.66<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">AbbVie, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.62<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">McKesson Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Cencora, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Welltower, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.32<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0966
0.0585
0.0418
0.0390
0.0379
0.0366
0.0362
0.0343
0.0312
0.0232
Invesco International Bond Fund
Class A
OIBAX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>51</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.03<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
51
0.0103
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120157.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco International Bond Fund
Class C
OIBCX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>88</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.78<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
88
0.0178
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120193.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco International Bond Fund
Class R
OIBNX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>64</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.29<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
64
0.0129
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120229.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco International Bond Fund
Class R5
INBQX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>37</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.75<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
37
0.0075
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120301.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco International Bond Fund
Class R6
OIBIX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>34</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.68<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
34
0.0068
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120337.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco International Bond Fund
Class Y
OIBYX
This semi-annual shareholder report contains important information about Invesco International Bond Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco International Bond Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>39</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.79<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
39
0.0079
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>1,586,574,610</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">561</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">33<span>%</span></td> </tr> </table>
1586574610
561
0.33
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10120265.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Bonos, Series M, 8.50%, 02/28/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.43<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Class NTNF, 10.00%, 01/01/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">8.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Brazil Notas do Tesouro Nacional, Series B, 6.00%, 05/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.59<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2048, 8.75%, 02/28/2048</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.29<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 3.62%, 06/18/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.14<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bills, 4.11%, 05/14/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">3.12<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">South Australian Government Financing Authority, 4.50%, 05/23/2031</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Spain Government Bond, 2.80%, 05/31/2026</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.92<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Mexican Udibonos, Series S, 4.00%, 08/30/2029</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.89<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Republic of South Africa Government Bond, Series 2040, 9.00%, 01/31/2040</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.67<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.0943
0.0844
0.0359
0.0329
0.0314
0.0312
0.0238
0.0192
0.0189
0.0167
Invesco Multi-Asset Income Fund
Class A
PIAFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>34</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.68<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
34
0.0068
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118033.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Asset Income Fund
Class C
PICFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>73</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.45<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
73
0.0145
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118069.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Asset Income Fund
Class R
PIRFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>48</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.95<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
48
0.0095
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118105.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Asset Income Fund
Class R5
IPNFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>18</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.35<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
18
0.0035
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118213.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Asset Income Fund
Class R6
PIFFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>18</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.35<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
18
0.0035
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118177.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Asset Income Fund
Class Y
PIYFX
This semi-annual shareholder report contains important information about Invesco Multi-Asset Income Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Asset Income Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>23</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.45<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
23
0.0045
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>879,157,015</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">453</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">32<span>%</span></td> </tr> </table>
879157015
453
0.32
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10118141.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco S&P 500 Equal Weight Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">22.68<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Core Fixed Income ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">18.75<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco QQQ Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">12.05<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco High Yield Systematic Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">10.93<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco MSCI EAFE Income Advantage ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">9.86<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.88%, 09/30/2032</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.63%, 02/15/2055</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.91<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 4.25%, 08/15/2035</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.88<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Notes, 3.63%, 09/30/2030</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.44<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">U.S. Treasury Bonds, 4.88%, 08/15/2045</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.35<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.2268
0.1875
0.1205
0.1093
0.0986
0.0244
0.0191
0.0188
0.0144
0.0135
Invesco Multi-Strategy Fund
Class A
QVOPX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Strategy Fund<br/> (Class A)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>58</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.15<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
58
0.0115
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>247,506,266</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">217</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">12<span>%</span></td> </tr> </table>
247506266
217
0.12
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119077.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Invesco Multi-Strategy Fund
Class C
QOPCX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:10pt;">
<table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Strategy Fund<br/> (Class C)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>96</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">1.90<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table>
<table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table> </div>
96
0.0190
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>247,506,266</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">217</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">12<span>%</span></td> </tr> </table>
247506266
217
0.12
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119113.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Invesco Multi-Strategy Fund
Class R
QOPNX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Multi-Strategy Fund<br/>(Class R)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>71</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">1.40<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;"><sup style="font-size: 6pt; vertical-align: super;">†</sup></div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div>
</td>
</tr>
</table>
71
0.0140
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>247,506,266</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">217</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">12<span>%</span></td>
</tr>
</table>
247506266
217
0.12
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div><div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">45.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.51<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.33<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.65<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.54<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table><div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of net assets)</b></div><div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119149.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div><table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">45.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.51<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.33<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.65<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.54<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Invesco Multi-Strategy Fund
Class R5
FDATX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b></div>
<div style="font-weight: 400; font-kerning: none; line-height: 13pt; text-align: left; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 12pt 0px;"><i>(Based on a hypothetical $10,000 investment)</i></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">Costs paid as a percentage<br/>of a $10,000 investment*</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Multi-Strategy Fund<br/>(Class R5)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>38</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.75<span>%</span><sup style="vertical-align: 0.5em; font-size: 66.6%;">†</sup></td>
</tr>
</table>
<table style="table-layout: auto; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; line-height: 13pt; text-align: left; margin-bottom: 12pt; width: auto;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Annualized.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; width: 9pt; font-size: 6pt; vertical-align: super; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; text-align: left; font-size: 6pt; vertical-align: super; padding: 0px; margin: 0px;"><sup style="font-size: 6pt; vertical-align: super;">†</sup></div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding: 0;">
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-style: italic; font-size: 7.5pt; text-align: left; padding: 0px; margin: 0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div>
</td>
</tr>
</table>
38
0.0075
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What Are Key Statistics About The Fund?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;"><span style="float: none;">$</span>247,506,266</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">217</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; width: 40%; text-align: left; font-weight: normal; padding: 6pt 10pt 3pt 10pt;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 10pt 3pt 10pt;">12<span>%</span></td>
</tr>
</table>
247506266
217
0.12
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 0px 0px 3pt 0px;"><b>What Comprised The Fund's Holdings?</b></div>
<div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 10pt 0px;">(as of April 30, 2026)</div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">45.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.51<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.33<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.65<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.54<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Security type allocation </b> <br/><b>(% of net assets)</b></div>
<div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119221.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; font-weight: bold; text-align: center; padding-bottom: 5pt; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 1pt; text-transform: none; margin: 5pt 0px 5pt 0px;"><b>Top ten holdings*</b> <br/><b>(% of net assets)</b></div>
<table style="table-layout: auto; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">45.61<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.51<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.38<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.33<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.21<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.65<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.60<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.58<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.54<span>%</span></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal; padding: 6pt 3pt 3pt 3pt;"></td>
</tr>
</table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Invesco Multi-Strategy Fund
Class R6
QOPIX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Strategy Fund<br/> (Class R6)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>38</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.75<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
38
0.0075
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>247,506,266</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">217</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">12<span>%</span></td> </tr> </table>
247506266
217
0.12
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119257.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Invesco Multi-Strategy Fund
Class Y
QOPYX
This semi-annual shareholder report contains important information about Invesco Multi-Strategy Fund (the “Fund”) for the period November 1, 2025 to April 30, 2026.
semi-annual shareholder report
You can find additional information about the Fund at <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/reports</span>. You can also request this information by contacting us at (800) 959-4246.
invesco.com/reports
(800) 959-4246
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Were The Fund Costs For The Last </b> <b>Six Months</b> <b>?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:12pt;margin-left:0px;font-kerning:none;line-height:13pt;text-align:left;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <i>(Based on a hypothetical $10,000 investment)</i> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-after:avoid;break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom;">Fund (Class)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; font-weight: bold; vertical-align: bottom; text-align: center;">Costs paid as a percentage<br/> of a $10,000 investment*</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco Multi-Strategy Fund<br/> (Class Y)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>46</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center;">0.90<span>%</span><sup style="vertical-align:0.5em;font-size:66.6%">†</sup></td> </tr> </table><table style="table-layout:auto;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid;font-family:'times new roman';color:rgb(0, 0, 0);font-size:11pt;line-height:13pt;text-align:left;margin-bottom:12pt;width:auto">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Annualized.</div></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; font-style: italic; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0; width: 9pt; font-size: 6pt; vertical-align: super;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;font-size:6pt;vertical-align:super;"><sup style="font-size:6pt;vertical-align:super">†</sup></div></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; color: rgb(0, 0, 0); font-kerning: none; vertical-align: baseline; font-style: italic; font-size: 7.5pt; margin-bottom: 0; text-align: left; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">
<div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-style:italic;font-size:7.5pt;text-align:left;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;">Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.</div></td> </tr> </table>
46
0.0090
<div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Are Key Statistics About The Fund?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><table style="table-layout:auto;width:100%;border-collapse:collapse;page-break-inside:avoid;break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Fund net assets</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;"><span style="float:none">$</span>247,506,266</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Total number of portfolio holdings</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">217</td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; width: 40%; text-align: left; font-weight: normal;">Portfolio turnover rate</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 10pt; padding-bottom: 3pt; padding-left: 10pt; font-kerning: none; white-space: nowrap;">12<span>%</span></td> </tr> </table>
247506266
217
0.12
<div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 71, 255);font-size:14pt;font-weight:bold;"> <b>What Comprised The Fund's Holdings?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:10pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">(as of April 30, 2026)</div><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table><div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Security type allocation </b> <br/> <b>(% of net assets)</b> </div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);"> <img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_10119185.jpg" style="width: 172.8pt;"/> </div>
<div style="font-kerning:none;margin-top:5pt;margin-right:0px;margin-bottom:5pt;margin-left:0px;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;font-weight:bold;text-align:center;padding-bottom:5pt;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:1pt;text-transform:none;"> <b>Top ten holdings*</b> <br/> <b>(% of net assets)</b> </div><table style="table-layout:auto;width:100%;border-collapse:collapse;break-inside:avoid-page;page-break-inside:avoid">
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Invesco Managed Futures Strategy ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">45.61<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Apple, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.51<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">NVIDIA Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.38<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Alphabet, Inc., Class A</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.33<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Microsoft Corp.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.21<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Broadcom, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.65<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Amazon.com, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Altria Group, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.60<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Analog Devices, Inc.</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.58<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Johnson & Johnson</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">0.54<span>%</span></td> </tr>
<tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial">
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); margin-bottom: 12pt; text-align: left; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;">* Excluding money market fund holdings, if any.</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; color: rgb(0, 0, 0); text-align: left; margin-bottom: 12pt; font-family: 'Arial'; font-size: 9pt; line-height: 120%; font-weight: normal;"></td> </tr> </table>
0.4561
0.0151
0.0138
0.0133
0.0121
0.0065
0.0060
0.0060
0.0058
0.0054
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Excluding money market fund holdings, if any.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Excluding money market fund holdings, if any.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Excluding money market fund holdings, if any.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Excluding money market fund holdings, if any.
Reflects the risk that each asset class is expected to contribute to the overall risk of the Fund as measured by standard deviation and estimates of risk based on historical data. Standard deviation measures the annualized fluctuations (volatility) of monthly returns.
Annualized.
Excluding money market fund holdings, if any.
Proprietary models determine the Notional Asset Weights necessary to achieve the Target Risk Contributions. Total Notional Asset Weight greater than 100% is achieved through derivatives and other instruments that create leverage.
Annualized.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.
Excluding money market fund holdings, if any.
Annualized.
Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.