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NASDAQ NASDAQ NASDAQ NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NYSEArca NASDAQ NASDAQ NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NYSEArca NYSEArca NYSEArca CboeBZX NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NYSEArca NASDAQ NYSEArca NYSEArca NYSEArca NASDAQ NASDAQ NASDAQ NASDAQ NASDAQ N-CSR Invesco Exchange-Traded Fund Trust 2026-04-30 Invesco Aerospace & Defense ETF Invesco Aerospace & Defense ETF PPA This annual shareholder report contains important information about Invesco Aerospace & Defense ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Aerospace & Defense ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>69</td> <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;">0.58<span>%</span></td> </tr> </table> 69 0.0058 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the aerospace and defense industry outperformed the broader market. In addition to the Fund's focus on aerospace and defense stocks, its security selection led to a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Aerospace & Defense Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the SPADE<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Defense Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 38.20%, differed from the return of the Index, 39.02%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Aerospace & defense industry, followed by the electronic equipment instruments & components and machinery industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | General Electric Co., an aerospace & defense company, and RTX Corp., an aerospace & defense company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No industries detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Booz Allen Hamilton Holding Corp., a professional services company, and Axon Enterprise, Inc., an aerospace & defense company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124464.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Aerospace & Defense ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.20<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.18<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.51<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">SPADE<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Defense Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.02<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.80<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Aerospace & Defense Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.78<span>%</span></td> </tr> </table> Invesco Aerospace & Defense ETF — NAV Return 0.3820 0.1818 0.1751 SPADE® Defense Index 0.3902 0.1880 0.1815 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Aerospace & Defense Index 0.3430 0.1626 0.1478 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>8,014,351,302</td> </tr> <tr style="break-inside: avoid-page; 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;">63</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>33,684,796</td> </tr> <tr style="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;">14<span>%</span></td> </tr> </table>

8014351302

63 33684796

0.14

<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;">Boeing Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">9.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">General Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">RTX 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;">7.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lockheed Martin 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;">6.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">General Dynamics 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;">4.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Northrop Grumman 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;">4.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Honeywell International, 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Howmet Aerospace, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">L3Harris Technologies, 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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Parker-Hannifin 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;">3.74<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>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_10124469.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;">Boeing Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">9.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">General Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">RTX 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;">7.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lockheed Martin 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;">6.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">General Dynamics 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;">4.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Northrop Grumman 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;">4.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Honeywell International, 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Howmet Aerospace, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">L3Harris Technologies, 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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Parker-Hannifin 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;">3.74<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> 0.0911 0.0785 0.0713 0.0639 0.0452 0.0446 0.0439 0.0418 0.0376 0.0374 Invesco AI and Next Gen Software ETF Invesco AI and Next Gen Software ETF IGPT This annual shareholder report contains important information about Invesco AI and Next Gen Software ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco AI and Next Gen Software ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>83</td> <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;">0.57<span>%</span></td> </tr> </table> 83 0.0057 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for a majority of the year, while increasingly rotating back toward artificial intelligence (AI)-linked themes. Renewed AI investment momentum benefited companies tied to next-generation software development and broader AI buildout. As a result, the Fund outperformed the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Software & Services Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the STOXX World AC NexGen Software Development Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 90.27%, differed from the return of the Index, 90.29%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Semiconductors sub-industry, followed by the interactive media & services and technology hardware storage & peripherals sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Micron Technology, Inc., a semiconductors company, and SK hynix Inc., a semiconductors company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Application software sub-industry, followed by the health care equipment sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Strategy Inc., Class A, an application software company, and Adobe, Inc., an application software company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125436.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco AI and Next Gen Software ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">90.27<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.97<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.53<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco AI and Next Gen Software Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">90.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Software & Services Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-6.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.83<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.02<span>%</span></td> </tr> </table> Invesco AI and Next Gen Software ETF — NAV Return 0.9027 0.0897 0.1953 Blended - Invesco AI and Next Gen Software Benchmark 0.9029 0.0914 0.2000 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P Composite 1500® Software & Services Index -0.0651 0.0583 0.1602 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>875,307,932</td> </tr> <tr style="break-inside: avoid-page; 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;">102</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>2,960,138</td> </tr> <tr style="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;">26<span>%</span></td> </tr> </table>

875307932

102 2960138

0.26

<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;">SK hynix, 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;">9.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">8.10<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;">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;">8.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Intel 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;">7.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">6.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">6.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">4.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">QUALCOMM, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Intuitive Surgical, 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;">3.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Western Digital 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;">3.19<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>Sub-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_10125441.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;">SK hynix, 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;">9.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">8.10<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;">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;">8.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Intel 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;">7.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">6.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">6.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">4.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">QUALCOMM, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Intuitive Surgical, 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;">3.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Western Digital 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;">3.19<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> 0.0902 0.0810 0.0805 0.0711 0.0692 0.0640 0.0476 0.0355 0.0341 0.0319 Invesco Biotechnology & Genome ETF Invesco Biotechnology & Genome ETF PBE This annual shareholder report contains important information about Invesco Biotechnology & Genome ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Biotechnology & Genome ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.59<span>%</span></td> </tr> </table> 68 0.0059 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the health care sector underperformed the broader market. The Fund's multi-factor methodology led to security selection performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Biotechnology Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Biotech & Genome Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 29.08%, differed from the return of the Index, 29.70%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Biotechnology sub-industry, followed by the pharmaceuticals and life sciences tools & services sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | United Therapeutics Corp., a biotechnology company, and Exact Sciences Corp., a health care equipment company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No sub-industry detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Akebia Therapeutics, Inc., a biotechnology company (no longer held at fiscal year-end), and TG Therapeutics, Inc., a biotechnology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125004.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Biotechnology & Genome ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.08<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.54<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Biotech & Genome Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.90<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Biotechnology Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.43<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.77<span>%</span></td> </tr> </table> Invesco Biotechnology & Genome ETF — NAV Return 0.2908 0.0134 0.0754 Dynamic Biotech & Genome Intellidex® Index 0.2970 0.0190 0.0799 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Biotechnology Index 0.1609 0.0943 0.0877 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>247,382,190</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,192,501</td> </tr> <tr style="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;">103<span>%</span></td> </tr> </table>

247382190

33 1192501

1.03

<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;">United Therapeutics 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;">6.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Illumina, 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;">5.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Biogen, 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;">5.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Incyte 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;">4.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alnylam Pharmaceuticals, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Regeneron Pharmaceuticals, 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;">4.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amgen, 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;">4.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BioCryst Pharmaceuticals, 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Catalyst Pharmaceuticals, 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;">3.30<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>Sub-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_10125009.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;">United Therapeutics 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;">6.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Illumina, 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;">5.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Biogen, 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;">5.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Incyte 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;">4.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alnylam Pharmaceuticals, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Regeneron Pharmaceuticals, 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;">4.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amgen, 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;">4.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BioCryst Pharmaceuticals, 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Catalyst Pharmaceuticals, 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;">3.30<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> 0.0628 0.0537 0.0505 0.0491 0.0484 0.0477 0.0471 0.0462 0.0342 0.0330 Invesco Bloomberg Analyst Rating Improvers ETF Invesco Bloomberg Analyst Rating Improvers ETF UPGD This annual shareholder report contains important information about Invesco Bloomberg Analyst Rating Improvers ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Bloomberg Analyst Rating Improvers ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 43 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, companies included in the Bloomberg ANR Improvers Index pursuant to the proprietary security selection methodology generally underperformed the broader stock market, although certain holdings performed well relative to the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Bloomberg ANR Improvers Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 15.89%, differed from the return of the Index, 16.40%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the consumer discretionary and information technology sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Caterpillar, Inc., an industrials company, and Intel Corp., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector, followed by the financials and materials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Gartner, Inc., an information technology company (no longer held at fiscal year-end), and DocuSign, Inc., an information technology company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125760.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Bloomberg Analyst Rating Improvers ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.89<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.77<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco Bloomberg Analyst Rating Improvers ETF Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.29<span>%</span></td> </tr> </table> Invesco Bloomberg Analyst Rating Improvers ETF — NAV Return 0.1589 0.0616 0.0977 Blended - Invesco Bloomberg Analyst Rating Improvers ETF Benchmark 0.1640 0.0663 0.1041 Russell 3000® Index 0.3101 0.1191 0.1475 S&P MidCap 400® Index 0.2949 0.0760 0.1129 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>112,553,766</td> </tr> <tr style="break-inside: avoid-page; 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;">52</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>432,649</td> </tr> <tr style="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;">170<span>%</span></td> </tr> </table>

112553766

52 432649

1.70

<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;">Intel 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;">4.22<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;">Caterpillar, 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;">2.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">F5, 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;">2.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cummins, 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;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Airbnb, 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;">2.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dick's Sporting Goods, 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;">2.27<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;">Old Dominion Freight Line, 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;">2.22<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;">NetApp, 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;">2.22<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;">American Electric Power Co., 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;">2.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Trane Technologies 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.18<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_10125765.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;">Intel 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;">4.22<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;">Caterpillar, 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;">2.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">F5, 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;">2.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cummins, 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;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Airbnb, 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;">2.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dick's Sporting Goods, 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;">2.27<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;">Old Dominion Freight Line, 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;">2.22<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;">NetApp, 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;">2.22<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;">American Electric Power Co., 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;">2.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Trane Technologies 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.18<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> 0.0422 0.0240 0.0237 0.0230 0.0229 0.0227 0.0222 0.0222 0.0219 0.0218 Invesco Bloomberg MVP Multi-factor ETF Invesco Bloomberg MVP Multi-factor ETF BMVP This annual shareholder report contains important information about Invesco Bloomberg MVP Multi-factor ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Bloomberg MVP Multi-factor ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>31</td> <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;">0.29<span>%</span></td> </tr> </table> 31 0.0029 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities delivered solid performance and ultimately pushed to new highs despite bouts of volatility tied to geopolitical developments. The market's leadership remained heavily influenced by large-cap growth-oriented sectors such as information technology and communication services. The Fund's multi-factor approach resulted in an underweight allocation to mega-capitalization securities, creating a performance headwind relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Bloomberg MVP Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 13.22%, differed from the return of the Index, 13.48%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the utilities and health care sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Cummins Inc., an industrials company, and Vistra Corp., a utilities company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sectors detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Cognizant Technology Solutions Corp., Class A, an information technology company (no longer held at fiscal year-end), and Broadridge Financial Solutions, Inc., an industrials company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125220.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Bloomberg MVP Multi-factor ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.22<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.52<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco Bloomberg MVP Multi-Factor Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.48<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.19<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco Bloomberg MVP Multi-factor ETF — NAV Return 0.1322 0.0652 0.0963 Blended - Invesco Bloomberg MVP Multi-Factor Benchmark 0.1348 0.0691 0.1019 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>102,131,254</td> </tr> <tr style="break-inside: avoid-page; 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;">57</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>304,661</td> </tr> <tr style="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;">176<span>%</span></td> </tr> </table>

102131254

57 304661

1.76

<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;">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;">2.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Jabil, 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;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cummins, 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;">2.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; 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: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ferguson Enterprises, 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FedEx 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CDW 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Synchrony Financial</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.97<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;">Principal Financial 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;">1.97<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;">United Parcel Service, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.94<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_10125225.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;">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;">2.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Jabil, 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;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cummins, 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;">2.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; 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: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ferguson Enterprises, 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FedEx 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CDW 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Synchrony Financial</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.97<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;">Principal Financial 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;">1.97<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;">United Parcel Service, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.94<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> 0.0235 0.0223 0.0219 0.0207 0.0202 0.0199 0.0199 0.0197 0.0197 0.0194 Invesco Building & Construction ETF Invesco Building & Construction ETF PKB This annual shareholder report contains important information about Invesco Building & Construction ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Building & Construction ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.57<span>%</span></td> </tr> </table> 73 0.0057 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the materials sector lagged the broader market. The Fund's multi-factor methodology led to an overweight in construction material stocks, which created a performance headwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Construction & Engineering Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Building & Construction Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 54.66%, differed from the return of the Index, 55.61%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Construction & engineering sub-industry, followed by the building products and construction materials sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Comfort Systems USA, Inc., a construction & engineering company, and Tutor Perini Corp., a construction & engineering company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Home improvement retail sub-industry, followed by the other specialty retail sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Champion Homes, Inc., a homebuilding company, and Tractor Supply Co., a specialty retail company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125040.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Building & Construction ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">54.66<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.45<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Building & Construction Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">55.61<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.88<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Construction & Engineering Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">139.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.67<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.71<span>%</span></td> </tr> </table> Invesco Building & Construction ETF — NAV Return 0.5466 0.1645 0.1616 Dynamic Building & Construction Intellidex® Index 0.5561 0.1714 0.1688 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Construction & Engineering Index 1.3930 0.3867 0.2671 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>456,743,973</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,540,222</td> </tr> <tr style="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;">97<span>%</span></td> </tr> </table>

456743973

33 1540222

0.97

<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson Controls International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CRH 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vulcan Materials 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Martin Marietta Materials, 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;">4.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lowe's Cos., 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;">4.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Home Depot, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amrize 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;">4.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Argan, 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;">4.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">MYR 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;">4.04<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>Sub-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_10125045.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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">6.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson Controls International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CRH 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vulcan Materials 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Martin Marietta Materials, 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;">4.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lowe's Cos., 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;">4.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Home Depot, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amrize 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;">4.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Argan, 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;">4.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">MYR 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;">4.04<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> 0.0639 0.0515 0.0492 0.0484 0.0453 0.0437 0.0436 0.0420 0.0416 0.0404 Invesco BuyBack AchieversTM ETF Invesco BuyBack AchieversTM ETF PKW This annual shareholder report contains important information about Invesco BuyBack Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco BuyBack Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>70</td> <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;">0.62<span>%</span></td> </tr> </table> 70 0.0062 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its underweight allocation to the information technology sector and overweight allocation to the financials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq US BuyBack Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 26.97%, differed from the return of the Index, 27.79%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer discretionary sector, followed by the industrials and energy sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Caterpillar, Inc., an industrials company (no longer held at fiscal year-end), and Marathon Petroleum Corp., an energy company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sectors detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Fiserv, Inc., a financials company, and Adobe, Inc., an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124500.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco BuyBack Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.97<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.76<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq US BuyBack Achievers™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">27.79<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.79<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco BuyBack AchieversTM ETF — NAV Return 0.2697 0.1076 0.1311 Nasdaq US BuyBack Achievers™ Index 0.2779 0.1141 0.1379 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,648,435,473</td> </tr> <tr style="break-inside: avoid-page; 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;">229</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>7,397,116</td> </tr> <tr style="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;">95<span>%</span></td> </tr> </table>

1648435473

229 7397116

0.95

<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;">Citigroup, 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;">5.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wells Fargo & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.90<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Adobe, 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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson Controls International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HCA Healthcare, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marathon Petroleum 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;">3.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">General Motors 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Aflac, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">PayPal 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carrier Global 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;">2.25<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_10124505.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;">Citigroup, 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;">5.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wells Fargo & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.90<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Adobe, 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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Johnson Controls International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HCA Healthcare, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marathon Petroleum 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;">3.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">General Motors 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Aflac, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">PayPal 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carrier Global 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;">2.25<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> 0.0535 0.0490 0.0479 0.0462 0.0355 0.0348 0.0335 0.0269 0.0241 0.0225 Invesco Dividend AchieversTM ETF Invesco Dividend AchieversTM ETF PFM This annual shareholder report contains important information about Invesco Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.52<span>%</span></td> </tr> </table> 58 0.0052 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its security selection within the information technology sector and relative overweight allocation to the health care sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq US Broad Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 21.72%, differed from the return of the Index, 22.39%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the financials and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Broadcom, Inc., an information technology company, and Apple, Inc., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sectors detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Accenture PLC, Class A, an information technology company, and Abbott Laboratories, a health care company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124572.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">21.72<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.74<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq US Broad Dividend Achievers™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.39<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.07<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.32<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.17<span>%</span></td> </tr> </table> Invesco Dividend AchieversTM ETF — NAV Return 0.2172 0.1049 0.1174 Nasdaq US Broad Dividend Achievers™ Index 0.2239 0.1107 0.1232 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 3000® Value Index 0.2996 0.1009 0.1117 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>764,161,259</td> </tr> <tr style="break-inside: avoid-page; 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;">433</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>2,919,012</td> </tr> <tr style="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;">6<span>%</span></td> </tr> </table>

764161259

433 2919012

0.06

<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;">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;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.09<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;">Walmart, 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;">3.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.22<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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Exxon Mobil 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;">2.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Visa, 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Oracle 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;">1.69<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_10124577.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;">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;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.09<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;">Walmart, 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;">3.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.22<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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Exxon Mobil 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;">2.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Visa, 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Oracle 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;">1.69<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> 0.0520 0.0413 0.0409 0.0384 0.0322 0.0308 0.0235 0.0202 0.0202 0.0169 Invesco Dorsey Wright Basic Materials Momentum ETF Invesco Dorsey Wright Basic Materials Momentum ETF PYZ This annual shareholder report contains important information about Invesco Dorsey Wright Basic Materials Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Basic Materials Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.60<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;"> <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> 77 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the materials sector underperformed the broader market. The Fund's momentum methodology led to an overweight in aerospace & defense stocks, which created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Materials Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Basic Materials Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 56.23%, differed from the return of the Index, 57.18%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Gold sub-industry, followed by the specialty chemicals and aerospace & defense sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Coeur Mining, Inc., a gold company, and Carpenter Technology Corp., an aerospace & defense company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Paper products sub-industry, followed by the metal glass & plastic containers and paper & plastic packaging products & materials sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> PureCycle Technologies Inc., a commodity chemicals company (no longer held at fiscal year-end), and Ivanhoe Electric Inc., a diversified metals & mining company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124644.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Basic Materials Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">56.23<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.45<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Basic Materials Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">57.18<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Materials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.85<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.37<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.31<span>%</span></td> </tr> </table> Invesco Dorsey Wright Basic Materials Momentum ETF — NAV Return 0.5623 0.0945 0.1011 Dorsey Wright Basic Materials Technical Leaders™ Index 0.5718 0.1005 0.1078 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Materials Index 0.2385 0.0637 0.1031 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>102,698,021</td> </tr> <tr style="break-inside: avoid-page; 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;">45</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>218,241</td> </tr> <tr style="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;">91<span>%</span></td> </tr> </table>

102698021

45 218241

0.91

<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;">Carpenter Technology 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;">6.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CF Industries 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<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;">ATI, 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;">4.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alcoa 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Rare Earth, 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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Steel Dynamics, 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;">3.70<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Corteva, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hecla Mining 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Albemarle 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;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Solstice Advanced Materials, 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;">3.01<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>Sub-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_10124649.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;">Carpenter Technology 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;">6.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">CF Industries 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.32<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;">ATI, 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;">4.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alcoa 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">USA Rare Earth, 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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Steel Dynamics, 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;">3.70<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Corteva, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hecla Mining 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Albemarle 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;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Solstice Advanced Materials, 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;">3.01<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> 0.0645 0.0532 0.0493 0.0392 0.0383 0.0370 0.0346 0.0312 0.0303 0.0301 Invesco Dorsey Wright Consumer Cyclicals Momentum ETF Invesco Dorsey Wright Consumer Cyclicals Momentum ETF PEZ This annual shareholder report contains important information about Invesco Dorsey Wright Consumer Cyclicals Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Consumer Cyclicals Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>65</td> <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;">0.60<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;"> <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> 65 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the consumer cyclicals sector underperformed the broader market. The Fund's momentum methodology led to an underweight in broadline retail stocks, which created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Discretionary Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Consumer Cyclicals Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 17.30%, differed from the return of the Index, 17.93%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Apparel, accessories & luxury goods sub-industry, followed by the movies & entertainment and hotels resorts & cruise lines sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Tapestry, Inc., an apparel, accessories & luxury goods company, and EchoStar Corp., Class A, a cable & satellite company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Restaurants sub-industry, followed by the home furnishing retail and apparel retail sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> American Eagle Outfitters, Inc., an apparel retail company (no longer held at fiscal year-end), and Brinker International, Inc., a restaurants company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124680.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Consumer Cyclicals Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Consumer Cyclicals Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.93<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.12<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Discretionary Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.23<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.16<span>%</span></td> </tr> </table> Invesco Dorsey Wright Consumer Cyclicals Momentum ETF — NAV Return 0.1730 0.0286 0.0956 Dorsey Wright Consumer Cyclicals Technical Leaders™ Index 0.1793 0.0342 0.1012 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Consumer Discretionary Index 0.2523 0.0719 0.1316 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>23,276,106</td> </tr> <tr style="break-inside: avoid-page; 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;">48</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>41,583</td> </tr> <tr style="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;">187<span>%</span></td> </tr> </table>

23276106

48 41583

1.87

<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;">Tapestry, 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ralph Lauren 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;">3.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Netflix, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walmart, 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;">3.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cardinal Health, 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;">3.51<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marriott International, 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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Five Below, 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;">3.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Williams-Sonoma, 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;">2.98<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>Sub-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_10124685.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;">Tapestry, 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ralph Lauren 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;">3.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Netflix, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walmart, 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;">3.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cardinal Health, 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;">3.51<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marriott International, 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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Five Below, 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;">3.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Williams-Sonoma, 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;">2.98<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> 0.0408 0.0356 0.0354 0.0353 0.0351 0.0340 0.0337 0.0334 0.0324 0.0298 Invesco Dorsey Wright Consumer Staples Momentum ETF Invesco Dorsey Wright Consumer Staples Momentum ETF PSL This annual shareholder report contains important information about Invesco Dorsey Wright Consumer Staples Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Consumer Staples Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.60<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;"> <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> 61 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the consumer staples sector underperformed the broader market. The Fund's momentum methodology led to an underweight in merchandise retail stocks, which created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Staples Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Consumer Staples Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 3.63%, differed from the return of the Index, 4.20%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Food distributors sub-industry, followed by the agricultural products & services and tobacco sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Casey's General Stores, Inc., a food retail company, and EZCORP, Inc., Class A, a consumer finance company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Personal care products sub-industry, followed by the packaged foods & meats and merchandise retail sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> e.l.f. Beauty, Inc., a personal care products company (no longer held at fiscal year-end), and Sprouts Farmers Market, Inc., a food retail company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124716.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Consumer Staples Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.83<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.37<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Consumer Staples Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.20<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.39<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.98<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Staples Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.27<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.72<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.84<span>%</span></td> </tr> </table> Invesco Dorsey Wright Consumer Staples Momentum ETF — NAV Return 0.0363 0.0483 0.0837 Dorsey Wright Consumer Staples Technical Leaders™ Index 0.0420 0.0539 0.0898 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Consumer Staples Index 0.0827 0.0872 0.0884 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>84,076,824</td> </tr> <tr style="break-inside: avoid-page; 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;">50</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>314,882</td> </tr> <tr style="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;">80<span>%</span></td> </tr> </table>

84076824

50 314882

0.80

<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;">Casey's General Stores, 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;">6.12<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;">Costco Wholesale 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;">5.38<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;">US Foods Holding 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;">4.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Church & Dwight Co., 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;">4.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Performance Food Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kroger Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Darling Ingredients, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Philip Morris International, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Monster Beverage 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;">3.14<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>Sub-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_10124721.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;">Casey's General Stores, 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;">6.12<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;">Costco Wholesale 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;">5.38<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;">US Foods Holding 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;">4.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Church & Dwight Co., 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;">4.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Performance Food Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kroger Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Darling Ingredients, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Philip Morris International, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Monster Beverage 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;">3.14<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> 0.0612 0.0538 0.0495 0.0464 0.0398 0.0376 0.0354 0.0346 0.0335 0.0314 Invesco Dorsey Wright Energy Momentum ETF Invesco Dorsey Wright Energy Momentum ETF PXI This annual shareholder report contains important information about Invesco Dorsey Wright Energy Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Energy Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.60<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;"> <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> 78 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the energy sector outperformed the broader market. In addition to the Fund's focus on energy stocks, its momentum methodology led to a security selection tailwind in oil & gas refining & marketing stocks compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Energy Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Energy Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 61.16%, differed from the return of the Index, 62.06%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Oil & gas refining & marketing sub-industry, followed by the oil & gas equipment & services and oil & gas exploration & production sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Centrus Energy Corp., Class A, a coal & consumable fuels company (no longer held at fiscal year-end), and Weatherford International PLC, an oil & gas equipment & services company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Steel sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Texas Pacific Land Corp., a oil & gas exploration & production company (no longer held at fiscal year-end), and Ramaco Resources, Inc., Class A, a steel company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124752.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Energy Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">61.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.68<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Energy Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">62.06<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.06<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Energy Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">52.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.14<span>%</span></td> </tr> </table> Invesco Dorsey Wright Energy Momentum ETF — NAV Return 0.6116 0.2241 0.0668 Dorsey Wright Energy Technical Leaders™ Index 0.6206 0.2306 0.0724 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Energy Index 0.5240 0.2412 0.1014 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>84,634,256</td> </tr> <tr style="break-inside: avoid-page; 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;">45</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>121,183</td> </tr> <tr style="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;">106<span>%</span></td> </tr> </table>

84634256

45 121183

1.06

<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;">Targa Resources 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;">6.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Marathon Petroleum 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;">5.33<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;">Liberty Energy, 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;">4.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Permian Resources 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;">4.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viper Energy, 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;">3.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Devon Energy 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;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Transocean 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;">3.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PBF Energy, 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;">3.35<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; 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>Sub-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_10124757.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;">Targa Resources 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;">6.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Marathon Petroleum 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;">5.33<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;">Liberty Energy, 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;">4.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Permian Resources 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;">4.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viper Energy, 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;">3.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Devon Energy 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;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Transocean 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;">3.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Williams Cos., Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PBF Energy, 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;">3.35<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; 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> 0.0644 0.0533 0.0404 0.0402 0.0381 0.0352 0.0350 0.0350 0.0337 0.0335 Invesco Dorsey Wright Financial Momentum ETF Invesco Dorsey Wright Financial Momentum ETF PFI This annual shareholder report contains important information about Invesco Dorsey Wright Financial Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Financial Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.60<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;"> <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> 64 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the financials sector underperformed the broader market. The Fund's momentum methodology led to an overweight in investment banking & brokerage stocks, which created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Financials Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Financials Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 11.77%, differed from the return of the Index, 12.48%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Investment banking & brokerage sub-industry, followed by the diversified banks and consumer finance sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Goldman Sachs Group, Inc. (The), an investment banking & brokerage company, and Interactive Brokers Group, Inc., Class A, an investment banking & brokerage company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Property & casualty insurance sub-industry, followed by the transaction & payment processing services and multi-sector holdings sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Sezzle Inc., a transaction & payment processing services company (no longer held at fiscal year-end), and Progressive Corp., a property & casualty insurance company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124788.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Financial Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.84<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Financials Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.48<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.03<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.51<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Financials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.89<span>%</span></td> </tr> </table> Invesco Dorsey Wright Financial Momentum ETF — NAV Return 0.1177 0.0441 0.0884 Dorsey Wright Financials Technical Leaders™ Index 0.1248 0.0503 0.0951 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Financials Index 0.0858 0.0951 0.1289 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>33,712,504</td> </tr> <tr style="break-inside: avoid-page; 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;">51</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>177,669</td> </tr> <tr style="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;">153<span>%</span></td> </tr> </table>

33712504

51 177669

1.53

<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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.33<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;">Interactive Brokers Group, 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;">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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">American Healthcare REIT, 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;">4.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lemonade, 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;">4.10<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;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Simon Property 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;">3.21<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;">Citigroup, 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;">3.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ventas, 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;">3.14<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>Sub-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_10124793.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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.33<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;">Interactive Brokers Group, 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;">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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">American Healthcare REIT, 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;">4.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lemonade, 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;">4.10<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;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Simon Property 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;">3.21<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;">Citigroup, 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;">3.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ventas, 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;">3.14<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> 0.0533 0.0497 0.0484 0.0441 0.0410 0.0363 0.0341 0.0321 0.0316 0.0314 Invesco Dorsey Wright Healthcare Momentum ETF Invesco Dorsey Wright Healthcare Momentum ETF PTH This annual shareholder report contains important information about Invesco Dorsey Wright Healthcare Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Healthcare Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>69</td> <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;">0.60<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;"> <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> 69 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the health care sector underperformed the broader stock market. The Fund's momentum methodology led to better security selection within biotechnology, which created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Health Care Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Healthcare Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 29.85%, differed from the return of the Index, 30.64%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance and partially offset by income received from the securities lending program in which the Fund participates.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Biotechnology sub-industry, followed by the health care services and pharmaceuticals sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Insmed Inc., a biotechnology company (no longer held at fiscal year-end), and uniQure N.V., a biotechnology company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Health care technology sub-industry, followed by the managed health care sub-industry and life sciences tools & services sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> agilon health, inc., a health care services company (no longer held at fiscal year-end), and Hims & Hers Health, Inc., Class A, a health care services company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124824.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Healthcare Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.85<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.44<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Healthcare Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.46<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Health Care Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.54<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.61<span>%</span></td> </tr> </table> Invesco Dorsey Wright Healthcare Momentum ETF — NAV Return 0.2985 0.0001 0.1344 Dorsey Wright Healthcare Technical Leaders™ Index 0.3064 0.0046 0.1401 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Health Care Index 0.0577 0.0554 0.0961 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>120,908,386</td> </tr> <tr style="break-inside: avoid-page; 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;">61</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>393,549</td> </tr> <tr style="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;">239<span>%</span></td> </tr> </table>

120908386

61 393549

2.39

<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;">Praxis Precision Medicines, 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roivant Sciences 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;">4.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Therapeutics 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Tenet Healthcare 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;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Terns Pharmaceuticals, 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;">2.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tango Therapeutics, 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;">2.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HCA Healthcare, 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;">2.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Axsome Therapeutics, 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;">2.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Nektar Therapeutics</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Celcuity, 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;">2.52<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>Sub-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_10124829.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;">Praxis Precision Medicines, 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roivant Sciences 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;">4.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Therapeutics 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Tenet Healthcare 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;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Terns Pharmaceuticals, 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;">2.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tango Therapeutics, 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;">2.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HCA Healthcare, 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;">2.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Axsome Therapeutics, 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;">2.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Nektar Therapeutics</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Celcuity, 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;">2.52<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> 0.0506 0.0463 0.0342 0.0303 0.0285 0.0284 0.0276 0.0263 0.0256 0.0252 Invesco Dorsey Wright Industrials Momentum ETF Invesco Dorsey Wright Industrials Momentum ETF PRN This annual shareholder report contains important information about Invesco Dorsey Wright Industrials Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Industrials Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>81</td> <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;">0.60<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;"> <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> 81 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, industrials outperformed the broader stock market. In addition to the Fund's focus on industrials stocks, its momentum methodology led to higher exposure to construction & engineering, which created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Industrials Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Industrials Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 69.39%, differed from the return of the Index, 70.40%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Construction & engineering sub-industry, followed by the aerospace & defense and electronic manufacturing services sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Comfort Systems USA, Inc., a construction & engineering company, and Rocket Lab Corp., an aerospace & defense company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Construction materials sub-industry, followed by the heavy electrical equipment and transaction & payment processing services sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Axon Enterprise, Inc., an aerospace & defense company (no longer held at fiscal year-end), and Limbach Holdings, Inc., a construction & engineering company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124860.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Industrials Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">69.39<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.21<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.27<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Industrials Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">70.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.97<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Industrials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.83<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.74<span>%</span></td> </tr> </table> Invesco Dorsey Wright Industrials Momentum ETF — NAV Return 0.6939 0.1821 0.1827 Dorsey Wright Industrials Technical Leaders™ Index 0.7040 0.1887 0.1897 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Industrials Index 0.3483 0.1317 0.1374 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>403,306,632</td> </tr> <tr style="break-inside: avoid-page; 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;">41</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,422,839</td> </tr> <tr style="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;">154<span>%</span></td> </tr> </table>

403306632

41 1422839

1.54

<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;">TTM Technologies, 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;">5.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Argan, 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;">4.57<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Planet Labs PBC</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Jabil, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vicor 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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ITT, 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;">3.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cummins, 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;">3.38<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;">Caterpillar, 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;">3.35<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; 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>Sub-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_10124865.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;">TTM Technologies, 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;">5.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Argan, 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;">4.57<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Planet Labs PBC</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Jabil, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vicor 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;">3.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ITT, 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;">3.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cummins, 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;">3.38<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;">Caterpillar, 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;">3.35<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; 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> 0.0523 0.0485 0.0457 0.0431 0.0419 0.0390 0.0376 0.0363 0.0338 0.0335 Invesco Dorsey Wright Momentum ETF Invesco Dorsey Wright Momentum ETF PDP This annual shareholder report contains important information about Invesco Dorsey Wright Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.62<span>%</span></td> </tr> </table> 73 0.0062 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund's momentum methodology led to security selection which generally outperformed the broader stock market with certain information technology holdings performing well relative to the Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 36.64%, differed from the return of the Index, 37.51%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the information technology and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Comfort Systems USA, Inc., an industrials company, and AppLovin Corp., Class A, an information technology company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector, followed by the utilities sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Copart, Inc., an industrials company (no longer held at fiscal year-end), and Hims & Hers Health, Inc., a health care company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124896.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">36.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.61<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.27<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">37.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.98<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.23<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.82<span>%</span></td> </tr> </table> Invesco Dorsey Wright Momentum ETF — NAV Return 0.3664 0.0961 0.1327 Dorsey Wright Technical Leaders™ Index 0.3751 0.1029 0.1398 NASDAQ® Composite Index 0.4357 0.1309 0.1901 Russell 3000® Growth Index 0.3098 0.1323 0.1782 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,469,366,033</td> </tr> <tr style="break-inside: avoid-page; 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;">103</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>6,607,809</td> </tr> <tr style="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;">154<span>%</span></td> </tr> </table>

1469366033

103 6607809

1.54

<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amphenol Corp., 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;">2.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Targa Resources 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;">2.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Digital 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">2.22<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;">ATI, 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;">2.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ciena 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;">2.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">W.W. Grainger, 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;">1.99<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_10124901.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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amphenol Corp., 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;">2.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Targa Resources 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;">2.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Digital 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">2.22<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;">ATI, 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;">2.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ciena 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;">2.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">W.W. Grainger, 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;">1.99<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> 0.0320 0.0298 0.0295 0.0262 0.0243 0.0236 0.0222 0.0207 0.0203 0.0199 Invesco Dorsey Wright Technology Momentum ETF Invesco Dorsey Wright Technology Momentum ETF PTF This annual shareholder report contains important information about Invesco Dorsey Wright Technology Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Technology Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>87</td> <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;">0.60<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;"> <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> 87 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, information technology outperformed the broader stock market. In addition to the Fund's focus on information technology stocks, its momentum methodology created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Information Technology Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Technology Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 89.34%, differed from the return of the Index, 90.01%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Communications equipment sub-industry, followed by the technology hardware, storage & peripherals and semiconductor materials & equipment sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Lumentum Holdings, Inc., a communications equipment company, and Sandisk Corp., a technology hardware, storage & peripherals company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Real estate services sub-industry, followed by the consumer finance and wireless telecommunication services sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Aeva Technologies, Inc., an electronic equipment & instruments company (no longer held at fiscal year-end), and BitMine Immersion Technologies Inc., an application software company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124932.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Technology Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">89.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.56<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.97<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Technology Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">90.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Information Technology Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">49.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.49<span>%</span></td> </tr> </table> Invesco Dorsey Wright Technology Momentum ETF — NAV Return 0.8934 0.1856 0.2497 Dorsey Wright Technology Technical Leaders™ Index 0.9001 0.1916 0.2563 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Information Technology Index 0.4917 0.2077 0.2549 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>581,752,677</td> </tr> <tr style="break-inside: avoid-page; 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;">41</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,669,203</td> </tr> <tr style="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;">217<span>%</span></td> </tr> </table>

581752677

41 1669203

2.17

<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;">Sandisk 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;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Digital 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;">4.38<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;">Ciena 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;">4.27<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;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Aehr Test Systems</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ondas, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Navitas 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.07<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>Sub-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_10124937.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;">Sandisk 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;">5.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Western Digital 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;">4.38<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;">Ciena 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;">4.27<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;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Aehr Test Systems</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ondas, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Navitas 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.07<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> 0.0571 0.0484 0.0455 0.0453 0.0438 0.0427 0.0414 0.0369 0.0329 0.0307 Invesco Dorsey Wright Utilities Momentum ETF Invesco Dorsey Wright Utilities Momentum ETF PUI This annual shareholder report contains important information about Invesco Dorsey Wright Utilities Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Utilities Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>67</td> <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;">0.60<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;"> <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> 67 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, utilities underperformed the broader stock market. Despite the Fund's focus on utilities stocks, its momentum methodology improved performance compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Utilities Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dorsey Wright Utilities Technical Leaders<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 21.81%, differed from the return of the Index, 22.40%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Electric utilities sub-industry, followed by the heavy electrical equipment and multi-utilities sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | GE Vernova Inc., a heavy electrical equipment company, and Oklo Inc., Class A, an electric utilities company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Passenger airlines sub-industry, followed by the integrated telecommunication services and water utilities sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Surf Air Mobility, Inc., a passenger airlines company (no longer held at fiscal year-end), and Vistra Corp., an independent power producers & energy traders company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124968.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dorsey Wright Utilities Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">21.81<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dorsey Wright Utilities Technical Leaders™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.10<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Utilities Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.10<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.39<span>%</span></td> </tr> </table> Invesco Dorsey Wright Utilities Momentum ETF — NAV Return 0.2181 0.0963 0.0946 Dorsey Wright Utilities Technical Leaders™ Index 0.2240 0.1026 0.1010 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P 500® Utilities Index 0.2210 0.1040 0.1039 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>78,277,871</td> </tr> <tr style="break-inside: avoid-page; 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: 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>167,213</td> </tr> <tr style="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;">58<span>%</span></td> </tr> </table>

78277871

39 167213

0.58

<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;">GE Vernova, 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;">5.33<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;">Constellation Energy 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;">4.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ONEOK, 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;">4.38<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;">Atmos Energy 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;">4.17<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;">NiSource, 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Duke Energy 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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">WEC Energy 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;">3.80<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;">Sempra</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">DTE Energy 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Entergy 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;">3.29<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>Sub-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_10124973.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;">GE Vernova, 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;">5.33<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;">Constellation Energy 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;">4.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ONEOK, 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;">4.38<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;">Atmos Energy 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;">4.17<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;">NiSource, 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Duke Energy 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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">WEC Energy 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;">3.80<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;">Sempra</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">DTE Energy 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Entergy 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;">3.29<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> 0.0533 0.0440 0.0438 0.0417 0.0408 0.0383 0.0380 0.0362 0.0339 0.0329 Invesco Dow Jones Industrial Average Dividend ETF Invesco Dow Jones Industrial Average Dividend ETF DJD This annual shareholder report contains important information about Invesco Dow Jones Industrial Average Dividend ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Dow Jones Industrial Average Dividend ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>8</td> <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;">0.07<span>%</span></td> </tr> </table> 8 0.0007 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the Dow Jones Industrial Average Index primarily due to its security selection in and relative underweight allocation to the industrials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dow Jones Industrial Average Yield Weighted Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 23.63%, differed from the return of the Index, 23.76%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector, followed by the financials and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Caterpillar, Inc., an industrials company, and Chevron Corp., an energy company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer discretionary sector, followed by the materials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> NIKE, Inc., Class B, a consumer discretionary company, and Salesforce, Inc., an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124608.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Dow Jones Industrial Average Dividend ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.33<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dow Jones Industrial Average Yield Weighted Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.76<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.33<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dow Jones Industrial Average Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.03<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.21<span>%</span></td> </tr> </table> Invesco Dow Jones Industrial Average Dividend ETF — NAV Return 0.2363 0.1033 0.1220 Dow Jones Industrial Average Yield Weighted Index 0.2376 0.1041 0.1233 S&P Composite 1500® Index 0.3117 0.1265 0.1491 Dow Jones Industrial Average Index 0.2417 0.1003 0.1321 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>454,305,469</td> </tr> <tr style="break-inside: avoid-page; 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;">29</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>267,378</td> </tr> <tr style="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;">18<span>%</span></td> </tr> </table>

454305469

29 267378

0.18

<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;">Verizon Communications, 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;">9.80<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chevron 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;">7.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Coca-Cola Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">International Business Machines 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;">4.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Merck & Co., 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;">4.73<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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Procter & Gamble Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Amgen, 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;">4.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.30<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_10124613.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;">Verizon Communications, 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;">9.80<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chevron 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;">7.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Coca-Cola Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">International Business Machines 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;">4.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Merck & Co., 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;">4.73<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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Procter & Gamble Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Amgen, 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;">4.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.30<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> 0.0980 0.0718 0.0704 0.0483 0.0476 0.0473 0.0454 0.0445 0.0436 0.0430 Invesco Energy Exploration & Production ETF Invesco Energy Exploration & Production ETF PXE This annual shareholder report contains important information about Invesco Energy Exploration & Production ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Energy Exploration & Production ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>82</td> <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;">0.63<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; 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> 82 0.0063 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the energy sector benefited from elevated commodity prices. In addition to the Fund's focus on energy stocks, its multi-factor methodology led to an overweight in oil & gas refining & marketing stocks, which created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Oil & Gas Exploration & Production Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Energy Exploration & Production Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 61.30%, differed from the return of the Index, 62.22%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance and partially offset by income received from the securities lending program in which the Fund participates.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Oil & gas exploration & production sub-industry, followed by the oil & gas refining & marketing and integrated oil & gas sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Valero Energy Corp., an oil & gas refining & marketing company, and Marathon Petroleum Corp., an oil & gas refining & marketing company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No sub-industry detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> HighPeak Energy Inc., an oil & gas exploration & production company (no longer held at fiscal year-end), and CVR Energy, Inc., an oil & gas refining & marketing company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125076.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Energy Exploration & Production ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">61.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.94<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.68<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Energy Exploration & Production Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">62.22<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.73<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.32<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Oil & Gas Exploration & Production Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">44.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.62<span>%</span></td> </tr> </table> Invesco Energy Exploration & Production ETF — NAV Return 0.6130 0.2394 0.0868 Dynamic Energy Exploration & Production Intellidex® Index 0.6222 0.2473 0.0932 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Oil & Gas Exploration & Production Index 0.4444 0.2301 0.0862 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>133,730,006</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>353,501</td> </tr> <tr style="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>

133730006

33 353501

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>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;">Marathon Petroleum 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;">5.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Valero Energy 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;">5.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Diamondback Energy, 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;">5.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Occidental Petroleum 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Phillips 66</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ConocoPhillips</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.80<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;">EQT 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;">4.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Expand Energy 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;">4.17<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;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">APA 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;">3.27<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; 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>Sub-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_10125081.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;">Marathon Petroleum 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;">5.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Valero Energy 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;">5.35<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Diamondback Energy, 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;">5.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Occidental Petroleum 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Phillips 66</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ConocoPhillips</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.80<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;">EQT 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;">4.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Expand Energy 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;">4.17<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;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">APA 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;">3.27<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; 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> 0.0536 0.0535 0.0502 0.0492 0.0489 0.0480 0.0434 0.0417 0.0368 0.0327 Invesco Financial Preferred ETF Invesco Financial Preferred ETF PGF This annual shareholder report contains important information about Invesco Financial Preferred ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Financial Preferred ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.56<span>%</span></td> </tr> </table> 58 0.0056 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, financial issuers benefited from strong fundamentals. Lower yields also aided duration instruments and preferred securities with fixed rates. Because the Fund holds the vast majority of its portfolio in financial preferred stocks, it benefited from this broader market environment.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 6.56%, differed from the return of the Index, 7.16%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Banks industry, followed by the capital markets and insurance industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Synchrony Financial, Series A, Pfd., 5.625% coupon, a consumer finance company, and JPMorgan Chase & Co., Series EE, Pfd., 6.00% coupon, a banks company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No industry detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Brighthouse Financial, Inc., Series C, Pfd., 5.375% coupon, an insurance company, and Brighthouse Financial, Inc., Series A, Pfd., 6.60% coupon, an insurance company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125472.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Financial Preferred ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.56<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-0.13<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.68<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.31<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.06<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.18<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P U.S. Preferred Stock Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.15<span>%</span></td> </tr> </table> Invesco Financial Preferred ETF — NAV Return 0.0656 -0.0013 0.0268 Blended - ICE Exchange-Listed Fixed Rate Financial Preferred Securities Index 0.0716 0.0031 0.0306 Bloomberg U.S. Aggregate Bond Index 0.0406 0.0018 0.0167 S&P U.S. Preferred Stock Index 0.0942 0.0214 0.0415 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>718,541,316</td> </tr> <tr style="break-inside: avoid-page; 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;">102</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>3,848,674</td> </tr> <tr style="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;">14<span>%</span></td> </tr> </table>

718541316

102 3848674

0.14

<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;">JPMorgan Chase & Co., Series EE, Pfd., 6.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series DD, Pfd., 5.75%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wells Fargo & Co., Series Z, Pfd., 4.75%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series MM, Pfd., 4.20%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series LL, Pfd., 4.63%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.12<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;">Bank of America Corp., Series GG, Pfd., 6.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Allstate Corp. (The), Series H, Pfd., 5.10%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Capital One Financial Corp., Series I, Pfd., 5.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Bank of America Corp., Series KK, Pfd., 5.38%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.80<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;">JPMorgan Chase & Co., Series JJ, Pfd., 4.55%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.69<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>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_10125477.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;">JPMorgan Chase & Co., Series EE, Pfd., 6.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series DD, Pfd., 5.75%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wells Fargo & Co., Series Z, Pfd., 4.75%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series MM, Pfd., 4.20%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & Co., Series LL, Pfd., 4.63%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.12<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;">Bank of America Corp., Series GG, Pfd., 6.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Allstate Corp. (The), Series H, Pfd., 5.10%</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Capital One Financial Corp., Series I, Pfd., 5.00%</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; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Bank of America Corp., Series KK, Pfd., 5.38%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.80<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;">JPMorgan Chase & Co., Series JJ, Pfd., 4.55%</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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.69<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> 0.0276 0.0248 0.0226 0.0213 0.0212 0.0201 0.0186 0.0183 0.0180 0.0169 Invesco Food & Beverage ETF Invesco Food & Beverage ETF PBJ This annual shareholder report contains important information about Invesco Food & Beverage ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Food & Beverage ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>66</td> <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;">0.63<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; 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> 66 0.0063 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the consumer staples sector underperformed the broader market. The Fund's multifactor methodology led to an overweight in food distributor stocks, which created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Food Beverage & Tobacco Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Food & Beverage Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 8.03%, differed from the return of the Index, 8.77%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Food distributors sub-industry, followed by the agricultural products & services and restaurants sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | United Natural Foods, Inc., a food distributors company, and Monster Beverage Corp., a soft drinks & non-alcoholic beverages company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Food retail sub-industry, followed by the packaged foods & meats sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Sprouts Farmers Market, Inc., a food retail company (no longer held at fiscal year-end), and Nomad Foods Ltd., a packaged foods & meats company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125112.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Food & Beverage ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.03<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.59<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.97<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Food & Beverage Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Food Beverage & Tobacco Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.94<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.69<span>%</span></td> </tr> </table> Invesco Food & Beverage ETF — NAV Return 0.0803 0.0559 0.0597 Dynamic Food & Beverage Intellidex® Index 0.0877 0.0629 0.0663 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Food Beverage & Tobacco Index 0.0694 0.0663 0.0669 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>94,416,624</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>475,578</td> </tr> <tr style="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;">107<span>%</span></td> </tr> </table>

94416624

33 475578

1.07

<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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Corteva, 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;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Mondelez International, 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kroger Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PepsiCo, 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;">4.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Monster Beverage 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;">4.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sysco 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;">4.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hershey Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">United Natural Foods, 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;">3.57<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;">Darling Ingredients, 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;">3.35<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; 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>Sub-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_10125117.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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Corteva, 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;">5.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Mondelez International, 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Kroger Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PepsiCo, 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;">4.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Monster Beverage 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;">4.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sysco 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;">4.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hershey Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">United Natural Foods, 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;">3.57<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;">Darling Ingredients, 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;">3.35<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; 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> 0.0552 0.0524 0.0506 0.0492 0.0471 0.0454 0.0419 0.0406 0.0357 0.0335 Invesco Global Listed Private Equity ETF Invesco Global Listed Private Equity ETF PSP This annual shareholder report contains important information about Invesco Global Listed Private Equity ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Global Listed Private Equity ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>66</td> <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;">0.66<span>%</span></td> </tr> </table> 66 0.0066 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, global listed private equity companies underperformed the broader market. The Fund's stock selection methodology within the capital markets industry created a performance headwind relative to the MSCI ACWI Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Red Rocks Global Listed Private Equity Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities (including American depositary receipts ("ADRs") and global depositary receipts ("GDRs")) that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 0.97%, differed from the return of the Index, 1.64%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples distribution & retail industry, followed by the financial services and industrial conglomerates industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | HAL Trust, a financial services company, and Carlyle Group, Inc. (The), a capital markets company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Capital markets industry, followed by the IT services industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> 3i Group PLC, a capital markets company, and Blue Owl Capital, Inc., a capital markets company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125580.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Global Listed Private Equity ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.97<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.37<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Red Rocks Global Listed Private Equity Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.07<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">MSCI ACWI Index (Net)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.00<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.68<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.25<span>%</span></td> </tr> </table> Invesco Global Listed Private Equity ETF — NAV Return 0.0097 0.0137 0.0823 Red Rocks Global Listed Private Equity Index 0.0164 0.0209 0.0907 MSCI ACWI Index (Net) 0.3100 0.1068 0.1225 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>254,633,174</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;">65</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,484,107</td> </tr> <tr style="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;">27<span>%</span></td> </tr> </table>

254633174

65 1484107

0.27

<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;">KKR & Co., 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;">5.21<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;">Blackstone, 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;">5.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">EQT AB</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Partners Group Holding AG</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TPG, 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;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CVC Capital Partners 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3i Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HAL Trust</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Blue Owl Capital, 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;">4.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sofina 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; 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: 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>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_10125585.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;">KKR & Co., 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;">5.21<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;">Blackstone, 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;">5.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">EQT AB</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Partners Group Holding AG</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TPG, 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;">4.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CVC Capital Partners 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3i Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">HAL Trust</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Blue Owl Capital, 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;">4.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sofina 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; 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: 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> 0.0521 0.0519 0.0479 0.0472 0.0462 0.0456 0.0414 0.0413 0.0402 0.0374 Invesco Golden Dragon China ETF Invesco Golden Dragon China ETF PGJ This annual shareholder report contains important information about Invesco Golden Dragon China ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Golden Dragon China ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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;">0.70<span>%</span></td> </tr> </table> 71 0.0070 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, China's economy remained uneven, with modest growth supported by targeted policy easing and exports, but constrained by ongoing property-sector weakness, soft domestic demand, and cautious consumer and business confidence. Overweight allocations to financials and consumer discretionary sectors were leading detractors from Fund performance compared to the FTSE China 50 Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq Golden Dragon China Index<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 2.19%, differed from the return of the Index, 1.87%, primarily due to income received from the securities lending program in which the Fund participates, partially offset by fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer discretionary sector, followed by the communication services and information technology sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Baidu, Inc., ADR, a communication services company, and NIO, Inc., ADR, a consumer discretionary company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the industrials and health care sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Qfin Holdings, Inc., ADR, a financials company, and BGM Group Ltd., a health care company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125616.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Golden Dragon China ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-13.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.33<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq Golden Dragon China Index™</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-13.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.51<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">MSCI China Index (Net)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-4.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.46<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">FTSE China 50 Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.11<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-1.52<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.29<span>%</span></td> </tr> </table> Invesco Golden Dragon China ETF — NAV Return 0.0219 -0.1391 0.0033 Nasdaq Golden Dragon China Index™ 0.0187 -0.1396 0.0051 MSCI China Index (Net) 0.1242 -0.0449 0.0546 FTSE China 50 Index 0.1011 -0.0152 0.0429 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>114,648,229</td> </tr> <tr style="break-inside: avoid-page; 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;">74</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>695,095</td> </tr> <tr style="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;">23<span>%</span></td> </tr> </table>

114648229

74 695095

0.23

<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;">JD.com, Inc., 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;">8.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Baidu, Inc., 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;">8.51<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;">Alibaba Group Holding 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Yum China 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NetEase, Inc., 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;">5.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NIO, Inc., 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;">5.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">H World Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">New Oriental Education & Technology Group, Inc., 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;">3.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Full Truck Alliance Co. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Vipshop Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.46<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_10125621.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;">JD.com, Inc., 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;">8.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Baidu, Inc., 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;">8.51<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;">Alibaba Group Holding 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Yum China 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">7.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NetEase, Inc., 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;">5.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NIO, Inc., 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;">5.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">H World Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">New Oriental Education & Technology Group, Inc., 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;">3.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Full Truck Alliance Co. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Vipshop Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.46<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> 0.0888 0.0851 0.0766 0.0739 0.0579 0.0523 0.0394 0.0353 0.0352 0.0346 Invesco High Yield Equity Dividend AchieversTM ETF Invesco High Yield Equity Dividend AchieversTM ETF PEY This annual shareholder report contains important information about Invesco High Yield Equity Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco High Yield Equity Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.52<span>%</span></td> </tr> </table> 57 0.0052 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the Dow Jones U.S. Select Dividend Index primarily due to its security selection in the technology hardware storage & peripherals and diversified telecommunication services industries.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq US Dividend Achievers 50<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 19.02%, differed from the return of the Index, 19.63%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Banks industry, followed by the capital markets and leisure products industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Polaris, Inc., a leisure products company, and LyondellBasell Industries N.V., Class A, a chemicals company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Diversified telecommunication services industry, followed by the food products and pharmaceuticals industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Cogent Communications Holdings, Inc., a diversified telecommunication services company (no longer held at fiscal year-end), and Flowers Foods, Inc., a food products company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125652.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco High Yield Equity Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.02<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.74<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq US Dividend Achievers 50™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.29<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dow Jones U.S. Select Dividend Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.91<span>%</span></td> </tr> </table> Invesco High Yield Equity Dividend AchieversTM ETF — NAV Return 0.1902 0.0644 0.0874 Nasdaq US Dividend Achievers 50™ Index 0.1963 0.0698 0.0929 Russell 3000® Index 0.3101 0.1191 0.1475 Dow Jones U.S. Select Dividend Index 0.2612 0.0991 0.1091 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,066,079,432</td> </tr> <tr style="break-inside: avoid-page; 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;">53</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>4,308,892</td> </tr> <tr style="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;">56<span>%</span></td> </tr> </table>

1066079432

53 4308892

0.56

<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;">Insperity, 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;">6.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">LyondellBasell Industries N.V., 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;">4.74<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;">Robert Half, 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;">4.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Flowers Foods, 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;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Perrigo Co. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">HP, 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;">2.61<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;">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;">2.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Universal 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;">2.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">John Wiley & Sons, 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;">2.33<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;">Pfizer, 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;">2.32<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; 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>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_10125657.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;">Insperity, 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;">6.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">LyondellBasell Industries N.V., 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;">4.74<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;">Robert Half, 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;">4.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Flowers Foods, 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;">3.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Perrigo Co. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">HP, 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;">2.61<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;">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;">2.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Universal 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;">2.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">John Wiley & Sons, 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;">2.33<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;">Pfizer, 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;">2.32<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; 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> 0.0620 0.0474 0.0407 0.0352 0.0303 0.0261 0.0245 0.0234 0.0233 0.0232 Invesco International Dividend AchieversTM ETF Invesco International Dividend AchieversTM ETF PID This annual shareholder report contains important information about Invesco International Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco International Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.53<span>%</span></td> </tr> </table> 58 0.0053 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, international equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the MSCI EAFE<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its security selection in the industrials and information technology sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq International Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 20.37%, differed from the return of the Index, 20.28%, primarily due to income received from the securities lending program in which the Fund participates and positive differences in the tax withholding treatment of dividends between the Fund and the Index, which were partially offset by fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the energy and utilities sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Canadian Natural Resources Ltd., an energy company, and Magna International, Inc., a consumer discretionary company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the health care and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Diageo PLC, ADR, a consumer staples company (no longer held at fiscal year-end), and Novo Nordisk A/S, ADR, a health care company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125688.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco International Dividend Achievers<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.37<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.54<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq International Dividend Achievers™ Index (Net)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.28<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.43<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.56<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">MSCI EAFE<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (Net)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.83<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.85<span>%</span></td> </tr> </table> Invesco International Dividend AchieversTM ETF — NAV Return 0.2037 0.0960 0.0854 Nasdaq International Dividend Achievers™ Index (Net) 0.2028 0.0943 0.0856 MSCI EAFE® Index (Net) 0.2460 0.0883 0.0885 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>928,793,878</td> </tr> <tr style="break-inside: avoid-page; 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;">65</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>3,520,837</td> </tr> <tr style="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;">55<span>%</span></td> </tr> </table>

928793878

65 3520837

0.55

<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;">TELUS 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;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Eni S.p.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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Itau Unibanco Holding 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;">3.61<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;">Enbridge, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Novo Nordisk A/S, 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;">3.17<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;">Brookfield Renewable Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">British American Tobacco PLC, 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;">2.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PT Telkom Indonesia (Persero) Tbk, 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;">2.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">FinVolution Group, 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;">2.65<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;">Sanofi 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;">2.63<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_10125693.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;">TELUS 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;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Eni S.p.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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Itau Unibanco Holding 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;">3.61<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;">Enbridge, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Novo Nordisk A/S, 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;">3.17<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;">Brookfield Renewable Partners L.P.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">British American Tobacco PLC, 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;">2.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PT Telkom Indonesia (Persero) Tbk, 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;">2.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">FinVolution Group, 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;">2.65<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;">Sanofi 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;">2.63<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> 0.0371 0.0364 0.0361 0.0328 0.0317 0.0302 0.0293 0.0293 0.0265 0.0263 Invesco Large Cap Growth ETF Invesco Large Cap Growth ETF PWB This annual shareholder report contains important information about Invesco Large Cap Growth ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Large Cap Growth ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.55<span>%</span></td> </tr> </table> 68 0.0055 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, security selection within the information technology and industrials sectors were relative performance tailwinds for the Fund versus the Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Large Cap Growth Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 46.75%, differed from the return of the Index, 47.56%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and communication services sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Micron Technology, Inc., an information technology company, and Broadcom, Inc., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector, followed by the energy sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Intuitive Surgical, Inc., a health care company (no longer held at fiscal year-end), and Veeva Systems, Inc., Class A, a health care company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125148.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Large Cap Growth ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">46.75<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Large Cap Growth Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">47.56<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.63<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.82<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.26<span>%</span></td> </tr> </table> Invesco Large Cap Growth ETF — NAV Return 0.4675 0.1570 0.1734 Dynamic Large Cap Growth Intellidex® Index 0.4756 0.1634 0.1802 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 1000® Growth Index 0.3063 0.1382 0.1826 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,914,588,007</td> </tr> <tr style="break-inside: avoid-page; 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;">52</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>6,913,609</td> </tr> <tr style="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;">97<span>%</span></td> </tr> </table>

1914588007

52 6913609

0.97

<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;">Advanced Micro 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;">5.10<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;">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;">3.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.91<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; 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;">3.80<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;">Micron Technology, 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;">3.80<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;">Palantir Technologies, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Visa, 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;">3.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.22<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;">Walmart, 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;">3.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.18<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_10125153.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;">Advanced Micro 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;">5.10<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;">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;">3.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.91<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; 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;">3.80<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;">Micron Technology, 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;">3.80<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;">Palantir Technologies, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Visa, 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;">3.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.22<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;">Walmart, 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;">3.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.18<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> 0.0510 0.0394 0.0391 0.0380 0.0380 0.0332 0.0330 0.0322 0.0320 0.0318 Invesco Large Cap Value ETF Invesco Large Cap Value ETF PWV This annual shareholder report contains important information about Invesco Large Cap Value ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Large Cap Value ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.55<span>%</span></td> </tr> </table> 64 0.0055 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, security selection within the financials and health care sectors were relative performance tailwinds for the Fund versus the Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Large Cap Value Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 30.92%, differed from the return of the Index, 31.70%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the energy and health care sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Morgan Stanley, a financials company, and Goldman Sachs Group, Inc. (The), a financials company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Communication services sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Charter Communications, Inc., Class A, a communication services company (no longer held at fiscal year-end), and Uber Technologies, Inc., an industrials company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124428.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Large Cap Value ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.92<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.90<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Large Cap Value Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.79<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.25<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.22<span>%</span></td> </tr> </table> Invesco Large Cap Value ETF — NAV Return 0.3092 0.1316 0.1190 Dynamic Large Cap Value Intellidex® Index 0.3170 0.1379 0.1252 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 1000® Value Index 0.2925 0.1029 0.1122 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,479,410,978</td> </tr> <tr style="break-inside: avoid-page; 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;">51</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>6,134,308</td> </tr> <tr style="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;">110<span>%</span></td> </tr> </table>

1479410978

51 6134308

1.10

<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.33<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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Citigroup, 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;">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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Bank of America 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;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chevron 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;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Exxon Mobil 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.13<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_10124433.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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.33<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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Citigroup, 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;">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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Bank of America 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;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chevron 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;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Exxon Mobil 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Goldman Sachs Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.13<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> 0.0433 0.0375 0.0374 0.0362 0.0340 0.0337 0.0334 0.0331 0.0328 0.0313 Invesco Leisure and Entertainment ETF Invesco Leisure and Entertainment ETF PEJ This annual shareholder report contains important information about Invesco Leisure and Entertainment ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Leisure and Entertainment ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>66</td> <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;">0.58<span>%</span></td> </tr> </table> 66 0.0058 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the consumer discretionary sector underperformed the broader market. The Fund's multi-factor methodology led to a security selection performance tailwind in packaged foods & meats stocks compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Hotels Restaurants & Leisure Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Leisure & Entertainment Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 27.48%, differed from the return of the Index, 28.21%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Movies & entertainment sub-industry, followed by the hotels, resorts & cruise lines and passenger airlines sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Warner Bros. Discovery, Inc., Series A, a movies & entertainment company (no longer held at fiscal year-end), and Expedia Group, Inc., a hotels resorts & cruise lines company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Interactive media & services sub-industry, followed by the leisure facilities sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Flutter Entertainment PLC, a casinos & gaming company (no longer held at fiscal year-end), and TripAdvisor, Inc., an interactive media & services company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125184.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Leisure and Entertainment ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">27.48<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.28<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Leisure & Entertainment Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">28.21<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.74<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Hotels Restaurants & Leisure Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.50<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.89<span>%</span></td> </tr> </table> Invesco Leisure and Entertainment ETF — NAV Return 0.2748 0.0628 0.0613 Dynamic Leisure & Entertainment Intellidex® Index 0.2821 0.0674 0.0672 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Hotels Restaurants & Leisure Index 0.0596 0.0550 0.1089 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>244,873,472</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,506,341</td> </tr> <tr style="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;">168<span>%</span></td> </tr> </table>

244873472

33 1506341

1.68

<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;">Expedia 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;">6.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Airbnb, 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;">5.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marriott International, 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;">5.25<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;">Las Vegas Sands 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;">4.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carnival 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;">4.17<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;">Royal Caribbean Cruises 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;">4.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sysco 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;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lionsgate Studios 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;">4.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Airlines 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Versant Media 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;">3.66<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>Sub-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_10125189.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;">Expedia 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;">6.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Airbnb, 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;">5.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Marriott International, 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;">5.25<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;">Las Vegas Sands 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;">4.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carnival 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;">4.17<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;">Royal Caribbean Cruises 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;">4.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sysco 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;">4.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lionsgate Studios 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;">4.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Airlines 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Versant Media 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;">3.66<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> 0.0624 0.0556 0.0525 0.0494 0.0417 0.0415 0.0414 0.0411 0.0398 0.0366 Invesco MSCI Sustainable Future ETF Invesco MSCI Sustainable Future ETF ERTH This annual shareholder report contains important information about Invesco MSCI Sustainable Future ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco MSCI Sustainable Future ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>74</td> <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;">0.65<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;"> <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> 74 0.0065 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, sustainability-oriented themes faced headwinds from geopolitical conflict, which contributed to elevated traditional energy pricing. The Fund underperformed broader global equities primarily due to security selection within the automobiles and semiconductors & semiconductor equipment industries.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the MSCI Global Environment Select Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 28.44%, differed from the return of the Index, 28.40%, primarily due to positive impact from foreign valuation and income received from the securities lending program in which the Fund participates, partially offset by fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Electrical equipment industry, followed by the semiconductors & semiconductor equipment and renewable electricity producers industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | NVIDIA Corp., a semiconductors & semiconductor equipment company, and Vestas Wind Systems A/S, an electrical equipment company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Electronic equipment instruments & components industry, followed by the office REITs and machinery industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Li Auto, Inc., A Shares, an automobiles company, and BYD Co. Ltd., H Shares, an automobiles company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10124536.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco MSCI Sustainable Future ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">28.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-4.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended -MSCI Global Environment Select Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">28.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-4.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.98<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">MSCI ACWI Index (Net)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.00<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.68<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.25<span>%</span></td> </tr> </table> Invesco MSCI Sustainable Future ETF — NAV Return 0.2844 -0.0426 0.0747 Blended -MSCI Global Environment Select Index 0.2840 -0.0401 0.0798 MSCI ACWI Index (Net) 0.3100 0.1068 0.1225 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>147,094,859</td> </tr> <tr style="break-inside: avoid-page; 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;">163</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>668,302</td> </tr> <tr style="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;">23<span>%</span></td> </tr> </table>

147094859

163 668302

0.23

<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;">Digital Realty Trust, 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;">5.53<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; 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;">5.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BYD Co. Ltd., H 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;">5.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Vestas Wind Systems A/S</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.67<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;">Tesla, 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;">4.61<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;">First Solar, 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;">3.10<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;">Nextpower, 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;">2.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Contemporary Amperex Technology 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;">2.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Unibail-Rodamco-Westfield</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.22<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;">LG Energy Solution 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;">2.21<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>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_10124541.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;">Digital Realty Trust, 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;">5.53<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; 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;">5.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BYD Co. Ltd., H 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;">5.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Vestas Wind Systems A/S</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.67<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;">Tesla, 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;">4.61<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;">First Solar, 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;">3.10<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;">Nextpower, 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;">2.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Contemporary Amperex Technology 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;">2.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Unibail-Rodamco-Westfield</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.22<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;">LG Energy Solution 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;">2.21<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> 0.0553 0.0534 0.0526 0.0467 0.0461 0.0310 0.0266 0.0255 0.0222 0.0221 Invesco NASDAQ Internet ETF Invesco NASDAQ Internet ETF PNQI This annual shareholder report contains important information about Invesco NASDAQ Internet ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco NASDAQ Internet ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>62</td> <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;">0.60<span>%</span></td> </tr> </table> 62 0.0060 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, internet-related businesses underperformed the broader stock market. In addition to the Fund's focus on internet-related stocks, its security selection within application software and higher allocation to real estate services created a performance headwind compared to the Nasdaq-100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq CTA Internet Index<sup style="vertical-align: 0.5em; font-size: 66.6%;">SM</sup> (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 7.22%, differed from the return of the Index, 7.83%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Interactive media & services sub-industry, followed by the broadline retail and technology hardware storage & peripherals sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Alphabet Inc., Class C, an interactive media & services company, and Amazon.com, Inc., a broadline retail company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Application software sub-industry, followed by the real estate services and hotels resorts & cruise lines sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Salesforce, Inc., an application software company, and Adobe, Inc., an application software company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125724.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco NASDAQ Internet ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.22<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-0.20<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq CTA Internet Index℠</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.83<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq-100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">41.22<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.54<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">21.36<span>%</span></td> </tr> </table> Invesco NASDAQ Internet ETF — NAV Return 0.0722 -0.0020 0.1219 Nasdaq CTA Internet Index℠ 0.0783 0.0034 0.1282 NASDAQ® Composite Index 0.4357 0.1309 0.1901 Nasdaq-100® Index 0.4122 0.1554 0.2136 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>558,609,341</td> </tr> <tr style="break-inside: avoid-page; 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;">80</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>4,401,598</td> </tr> <tr style="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;">17<span>%</span></td> </tr> </table>

558609341

80 4401598

0.17

<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;">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;">9.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.59<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; 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;">8.12<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;">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;">8.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">7.38<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;">Shopify, 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Uber Technologies, 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;">3.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Netflix, 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;">3.80<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;">Booking 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.69<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>Sub-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_10125729.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;">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;">9.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Alphabet, Inc., 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">9.59<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; 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;">8.12<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;">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;">8.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">7.38<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;">Shopify, 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Uber Technologies, 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;">3.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Netflix, 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;">3.80<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;">Booking 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.69<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> 0.0987 0.0959 0.0812 0.0803 0.0738 0.0392 0.0387 0.0383 0.0380 0.0369 Invesco Next Gen Connectivity ETF Invesco Next Gen Connectivity ETF KNCT This annual shareholder report contains important information about Invesco Next Gen Connectivity ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Next Gen Connectivity ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 53 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, connectivity-related industries outperformed the broader stock market. Despite the Fund's focus on connectivity-related industries, its thematic emerging connectivity methodology created a performance headwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Communications Equipment Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the STOXX World AC NexGen Connectivity Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 65.89%, differed from the return of the Index, 65.29%, primarily due to positive foreign fair valuation impact and positive differences in the tax withholding treatment of dividends between the Fund and the Index, partially offset by fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Semiconductors sub-industry, followed by the technology hardware storage & peripherals and communications equipment sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Broadcom Inc., a semiconductors company, and Taiwan Semiconductor Manufacturing Co., Ltd., a semiconductors company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> IT consulting & other services sub-industry, followed by the cable & satellite and systems software sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Accenture PLC, an IT consulting & other services company, and T-Mobile US, Inc., a wireless telecommunication services company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125292.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Next Gen Connectivity ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">65.89<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.59<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco Next Gen Connectivity Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">65.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.84<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Communications Equipment Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">89.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.84<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.84<span>%</span></td> </tr> </table> Invesco Next Gen Connectivity ETF — NAV Return 0.6589 0.1601 0.1859 Blended - Invesco Next Gen Connectivity Benchmark 0.6529 0.1596 0.1884 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P Composite 1500® Communications Equipment Index 0.8970 0.2384 0.1984 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>133,608,093</td> </tr> <tr style="break-inside: avoid-page; 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;">98</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>264,795</td> </tr> <tr style="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;">19<span>%</span></td> </tr> </table>

133608093

98 264795

0.19

<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;">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;">8.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">7.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">7.21<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;">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;">7.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">6.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Intel 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;">5.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.25<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;">SK hynix, 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;">4.10<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;">Verizon Communications, 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;">2.58<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;">Arista Networks, 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;">2.49<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; 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>Sub-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_10125297.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;">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;">8.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">7.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">7.21<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;">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;">7.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">6.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Intel 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;">5.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.25<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;">SK hynix, 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;">4.10<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;">Verizon Communications, 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;">2.58<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;">Arista Networks, 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;">2.49<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; 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> 0.0845 0.0799 0.0721 0.0700 0.0606 0.0569 0.0425 0.0410 0.0258 0.0249 Invesco Next Gen Media and Gaming ETF Invesco Next Gen Media and Gaming ETF GGME This annual shareholder report contains important information about Invesco Next Gen Media and Gaming ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Next Gen Media and Gaming ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>66</td> <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;">0.63<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; 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> 66 0.0063 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, semiconductors and semiconductor equipment, to which the Fund had significant exposure through the implementation of its underlying index methodology, outperformed the broader stock market. In addition to the Fund's focus on media- and gaming-related industries, its thematic media methodology created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Media Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the STOXX World AC NexGen Media Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 10.76%, differed from the return of the Index, 11.25%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Semiconductors sub-industry, followed by the internet services & infrastructure and technology hardware storage & peripherals sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Advanced Micro Devices, Inc., a semiconductors company, and NVIDIA Corp., a semiconductors company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Interactive home entertainment sub-industry, followed by the application software and movies & entertainment sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Nintendo Co., Ltd., an interactive home entertainment company, and Adobe, Inc., an application software company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125256.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Next Gen Media and Gaming ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.76<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.17<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco Next Gen Media and Gaming Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.25<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.80<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.62<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Media Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-15.67<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-10.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.77<span>%</span></td> </tr> </table> Invesco Next Gen Media and Gaming ETF — NAV Return 0.1076 0.0257 0.0917 Blended - Invesco Next Gen Media and Gaming Benchmark 0.1125 0.0280 0.0962 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P Composite 1500® Media Index -0.1567 -0.1040 0.0077 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>43,193,763</td> </tr> <tr style="break-inside: avoid-page; 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;">93</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>579,329</td> </tr> <tr style="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;">27<span>%</span></td> </tr> </table>

43193763

93 579329

0.27

<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;">Advanced Micro 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;">13.33<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;">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;">8.10<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;">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;">7.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Netflix, 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;">7.38<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;">Meta Platforms, 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;">7.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">QUALCOMM, 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;">5.73<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;">Cloudflare, 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;">4.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Adobe, 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;">3.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Spotify Technology 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Nintendo 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;">3.21<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>Sub-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_10125261.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;">Advanced Micro 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;">13.33<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;">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;">8.10<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;">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;">7.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Netflix, 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;">7.38<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;">Meta Platforms, 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;">7.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">QUALCOMM, 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;">5.73<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;">Cloudflare, 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;">4.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Adobe, 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;">3.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Spotify Technology 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Nintendo 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;">3.21<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> 0.1333 0.0810 0.0789 0.0738 0.0714 0.0573 0.0404 0.0382 0.0366 0.0321 Invesco Oil & Gas Services ETF Invesco Oil & Gas Services ETF PXJ This annual shareholder report contains important information about Invesco Oil & Gas Services ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Oil & Gas Services ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>99</td> <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;">0.63<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; 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> 99 0.0063 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the energy sector outperformed the broader stock market. In addition to the Fund's focus on energy stocks, its multi-factor methodology led to an overweight in oil gas & consumable fuels, which created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Energy Equipment & Services Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Oil Services Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 115.38%, differed from the return of the Index, 116.62%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance and partially offset by income received from the securities lending program in which the Fund participates.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Oil & gas equipment & services sub-industry, followed by the oil & gas storage & transportation and oil & gas drilling sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Weatherford International PLC, an oil & gas equipment & services company, and TechnipFMC PLC, an oil & gas equipment & services company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No sub-industry detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Excelerate Energy, Inc., an oil & gas storage & transportation company, and Golar LNG Ltd., an oil & gas storage & transportation company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125328.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Oil & Gas Services ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">115.38<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-1.34<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Oil Services Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">116.62<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.48<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-0.54<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Energy Equipment & Services Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">100.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.50<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.26<span>%</span></td> </tr> </table> Invesco Oil & Gas Services ETF — NAV Return 1.1538 0.2534 -0.0134 Dynamic Oil Services Intellidex® Index 1.1662 0.2648 -0.0054 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Energy Equipment & Services Index 1.0012 0.2050 0.0026 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>138,032,524</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>152,938</td> </tr> <tr style="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;">64<span>%</span></td> </tr> </table>

138032524

33 152938

0.64

<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;">Halliburton 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Noble Corp. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Transocean 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;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Weatherford International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.73<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;">Frontline 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.58<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;">NOV, 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ProPetro Holding 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;">3.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Patterson-UTI Energy, 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;">3.67<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; 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>Sub-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_10125333.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;">Halliburton 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Noble Corp. 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Transocean 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;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Weatherford International 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.73<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;">Frontline 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.58<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;">NOV, 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ProPetro Holding 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;">3.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Patterson-UTI Energy, 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;">3.67<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; 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> 0.0542 0.0530 0.0507 0.0494 0.0478 0.0473 0.0458 0.0455 0.0369 0.0367 Invesco Pharmaceuticals ETF Invesco Pharmaceuticals ETF PJP This annual shareholder report contains important information about Invesco Pharmaceuticals ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Pharmaceuticals ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>67</td> <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;">0.58<span>%</span></td> </tr> </table> 67 0.0058 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the health care sector underperformed the broader stock market. The Fund's multi-factor methodology led to an overweight in health care equipment, which created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pharmaceuticals Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Pharmaceutical Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 29.49%, differed from the return of the Index, 30.21%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Pharmaceuticals sub-industry, followed by the biotechnology sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Avadel Pharmaceuticals PLC, a pharmaceuticals company (no longer held at fiscal year-end), and Travere Therapeutics, Inc., a biotechnology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Health care equipment sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Abbott Laboratories, a health care equipment company, and Perrigo Co. PLC, a pharmaceuticals company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125364.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Pharmaceuticals ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Pharmaceutical Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.21<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.75<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.97<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pharmaceuticals Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.59<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.85<span>%</span></td> </tr> </table> Invesco Pharmaceuticals ETF — NAV Return 0.2949 0.0719 0.0640 Dynamic Pharmaceutical Intellidex® Index 0.3021 0.0775 0.0697 S&P 500® Index 0.3105 0.1314 0.1526 S&P Composite 1500® Pharmaceuticals Index 0.2058 0.1259 0.1085 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>333,093,019</td> </tr> <tr style="break-inside: avoid-page; 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;">34</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,525,311</td> </tr> <tr style="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;">36<span>%</span></td> </tr> </table>

333093019

34 1525311

0.36

<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;">Pfizer, 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;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amgen, 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;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.74<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Merck & Co., 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;">4.65<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;">Abbott Laboratories</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Travere Therapeutics, 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;">3.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Corcept Therapeutics, 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;">3.73<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>Sub-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_10125369.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;">Pfizer, 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;">5.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Amgen, 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;">4.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.74<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Merck & Co., 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;">4.65<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;">Abbott Laboratories</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Travere Therapeutics, 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;">3.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Corcept Therapeutics, 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;">3.73<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> 0.0520 0.0493 0.0489 0.0478 0.0474 0.0468 0.0465 0.0418 0.0399 0.0373 Invesco RAFI US 1000 ETF Invesco RAFI US 1000 ETF PRF This annual shareholder report contains important information about Invesco RAFI US 1000 ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco RAFI US 1000 ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>40</td> <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;">0.34<span>%</span></td> </tr> </table> 40 0.0034 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities delivered strong results despite periodic volatility. The Fund's fundamental weighting approach led to a security selection tailwind in the information technology sector compared to the Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the RAFI<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Fundamental Select US 1000 Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 34.34%, differed from the return of the Index, 34.78%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the financials and communication services sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Alphabet Inc., Class A, a communication services company, and Intel Corp., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sectors detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Berkshire Hathaway Inc., Class B, a financials company, and Charter Communications, Inc., Class A, a communication services company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125508.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco RAFI US 1000 ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.34<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.48<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.37<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Custom Invesco RAFI U.S. 1000 ETF Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.78<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.88<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.77<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 1000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.32<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.01<span>%</span></td> </tr> </table> Invesco RAFI US 1000 ETF — NAV Return 0.3434 0.1248 0.1337 Custom Invesco RAFI U.S. 1000 ETF Benchmark 0.3478 0.1288 0.1377 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 1000® Index 0.3042 0.1232 0.1501 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>9,527,870,563</td> </tr> <tr style="break-inside: avoid-page; 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;">1,006</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>24,234,500</td> </tr> <tr style="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;">13<span>%</span></td> </tr> </table>

9527870563

1006 24234500

0.13

<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;">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;">4.79<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; 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Intel 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;">2.62<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; 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;">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;">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;">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;">Exxon Mobil 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;">1.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">1.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Chevron 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;">1.33<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_10125513.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;">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;">4.79<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; 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;">4.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Intel 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;">2.62<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; 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;">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;">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;">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;">Exxon Mobil 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;">1.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">JPMorgan Chase & 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Meta Platforms, 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;">1.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Chevron 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;">1.33<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> 0.0479 0.0408 0.0262 0.0232 0.0217 0.0188 0.0169 0.0155 0.0142 0.0133 Invesco RAFI US 1500 Small-Mid ETF Invesco RAFI US 1500 Small-Mid ETF PRFZ This annual shareholder report contains important information about Invesco RAFI US 1500 Small-Mid ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco RAFI US 1500 Small-Mid ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.36<span>%</span></td> </tr> </table> 43 0.0036 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. small- and mid-cap equities delivered solid performance, supported by broader investor sentiment and shifting rate expectations. The Fund underperformed the Russell 2000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index due primarily to individual security selection in the industrials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the RAFI<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Fundamental Select US 1500 Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 38.69%, differed from the return of the Index, 39.08%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the information technology and health care sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Vistance Networks, Inc., an information technology company (no longer held at fiscal year-end), and AppLovin Corp., Class A, an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> HubSpot, Inc., an information technology company, and Lucid Group, Inc., a consumer discretionary company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125544.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco RAFI US 1500 Small-Mid ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.69<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Custom Invesco RAFI U.S. 1500 Small-Mid ETF Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.08<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.55<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">44.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.75<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.98<span>%</span></td> </tr> </table> Invesco RAFI US 1500 Small-Mid ETF — NAV Return 0.3869 0.0830 0.1140 Custom Invesco RAFI U.S. 1500 Small-Mid ETF Benchmark 0.3908 0.0855 0.1164 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 2000® Index 0.4441 0.0575 0.1098 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>2,878,446,318</td> </tr> <tr style="break-inside: avoid-page; 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;">1,545</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>7,403,557</td> </tr> <tr style="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;">35<span>%</span></td> </tr> </table>

2878446318

1545 7403557

0.35

<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;">TTM Technologies, 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;">0.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Opendoor Technologies, 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;">0.57<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;">Viavi Solutions, 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;">0.57<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;">Advanced Energy Industries, 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;">0.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MaxLinear, 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;">0.51<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;">Onto Innovation, 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;">0.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FormFactor, 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;">0.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roivant Sciences 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;">0.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Crescent Energy 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.42<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_10125549.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;">TTM Technologies, 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;">0.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Opendoor Technologies, 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;">0.57<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;">Viavi Solutions, 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;">0.57<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;">Advanced Energy Industries, 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;">0.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MaxLinear, 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;">0.51<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;">Onto Innovation, 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;">0.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FormFactor, 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;">0.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roivant Sciences 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;">0.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Crescent Energy 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.42<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> 0.0059 0.0057 0.0057 0.0053 0.0051 0.0048 0.0044 0.0044 0.0042 0.0042 Invesco S&P 100 Equal Weight ETF Invesco S&P 100 Equal Weight ETF EQWL This annual shareholder report contains important information about Invesco S&P 100 Equal Weight ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 100 Equal Weight ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>28</td> <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;">0.25<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;"> <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> 28 0.0025 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund's equal weighting methodology led to lower exposure to mega-cap stocks within the S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index, which was a relative performance headwind.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 23.90%, differed from the return of the Index, 24.25%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Intel Corp., an information technology company, and Advanced Micro Devices, Inc., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sector detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> ServiceNow, Inc., an information technology company, and Accenture PLC, Class A, an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125976.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 100 Equal Weight ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.90<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.71<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.25<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">33.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.90<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.51<span>%</span></td> </tr> </table> Invesco S&P 100 Equal Weight ETF — NAV Return 0.2390 0.1171 0.1423 Blended - S&P 100® Equal Weight Index 0.2425 0.1201 0.1452 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P 100® Index 0.3329 0.1490 0.1651 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>2,481,594,328</td> </tr> <tr style="break-inside: avoid-page; 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;">102</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>3,639,868</td> </tr> <tr style="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;">23<span>%</span></td> </tr> </table>

2481594328

102 3639868

0.23

<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;">Intel 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">1.67<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;">Texas Instruments, 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;">1.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">QUALCOMM, 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;">1.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; 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;">GE Vernova, 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;">1.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Caterpillar, 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;">1.21<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;">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;">1.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">1.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">1.18<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_10125981.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;">Intel 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">1.67<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;">Texas Instruments, 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;">1.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">QUALCOMM, 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;">1.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; 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;">GE Vernova, 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;">1.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Caterpillar, 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;">1.21<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;">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;">1.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Micron Technology, 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;">1.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">1.18<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> 0.0189 0.0167 0.0136 0.0129 0.0125 0.0123 0.0121 0.0120 0.0119 0.0118 Invesco S&P 500 BuyWrite ETF Invesco S&P 500 BuyWrite ETF PBP This annual shareholder report contains important information about Invesco S&P 500 BuyWrite ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco S&P 500 BuyWrite ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</span>31</td> <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;">0.29<span>%</span></td> </tr> </table> 31 0.0029 <div style="margin-top:14pt;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>How Did The Fund Perform During The Period?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>• </b> During the fiscal year ended April 30, 2026, the Fund's underlying equity exposure to the S&P 500<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Index performed well, led by the information technology and communication services sectors. However, the call options detracted from the Fund's performance. This lack of upside was partially offset by the income generated from the call options.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the CBOE S&P 500 BuyWrite Index<sup style="vertical-align:0.5em;font-size:66.6%">SM</sup> (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index and will write (sell) call options thereon.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 17.08%, differed from the return of the Index, 17.52%, primarily due to fees and expenses incurred by the Fund during the period.</div><div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;"> <b>What contributed to performance?</b> <br/> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Sector Allocations</b> |<span style="white-space:nowrap"> </span> Information technology sector, followed by the communication services and industrials sectors, respectively.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Positions</b> | NVIDIA Corp., an information technology company, and Alphabet Inc., Class A, a communication services company.</div><div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;"> <b>What detracted from performance?</b> <br/> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Sector Allocations</b> |<span style="white-space:nowrap"> </span> No sectors detracted from the Fund's performance during the period.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:14pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Positions |</b> Berkshire Hathaway, Inc., Class B, a financials company, and ServiceNow, Inc., an information technology company. </div> <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>How Has The Fund Historically Performed?</b> </div><div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;">Growth of $10,000 Investment</div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:20pt;break-after:avoid;"> <img alt="Fund Performance - Growth of 10K" src="chartimages_10126084.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; width: 60%;"><br/> AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 1 Year</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 5 Years</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 10 Years</td> </tr> <tr style="break-inside:avoid-page;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: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: normal;">Invesco S&P 500 BuyWrite ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">17.08<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">8.13<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">7.10<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="break-inside: avoid-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; font-weight: normal;">CBOE S&P 500 BuyWrite Index℠</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">17.52<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">8.56<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">7.65<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; 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; font-weight: normal;">S&P 500<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">15.26<span>%</span></td> </tr> </table> Invesco S&P 500 BuyWrite ETF — NAV Return 0.1708 0.0813 0.0710 CBOE S&P 500 BuyWrite Index℠ 0.1752 0.0856 0.0765 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>337,490,207</td> </tr> <tr style="break-inside:avoid-page;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;">505</td> </tr> <tr style="break-inside:avoid-page;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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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>799,922</td> </tr> <tr style="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;">57<span>%</span></td> </tr> </table>

337490207

505 799922

0.57

<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%;">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;">8.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 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;">6.58<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%;">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;">5.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 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;">4.27<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%;">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;">3.70<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%;">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;">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%;">Alphabet, Inc., 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); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.95<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Meta Platforms, 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;">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%;">Tesla, 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;">1.77<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%;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.43<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_10126089.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%;">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;">8.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 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;">6.58<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%;">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;">5.00<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 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;">4.27<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%;">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;">3.70<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%;">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;">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%;">Alphabet, Inc., 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); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">2.95<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Meta Platforms, 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;">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%;">Tesla, 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;">1.77<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%;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">1.43<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> 0.0800 0.0658 0.0500 0.0427 0.0370 0.0327 0.0295 0.0221 0.0177 0.0143 Invesco S&P 500® Equal Weight Communication Services ETF Invesco S&P 500® Equal Weight Communication Services ETF RSPC This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Communication Services ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Communication Services ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 42 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, communication services stocks outperformed the broader market. Despite this, Fund's equal weighting methodology created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Communication Services Plus Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 10.39%, differed from the return of the Index, 10.19%, primarily due to income received from the securities lending program in which the Fund participates, partially offset by fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Entertainment industry, followed by the interactive media & services and diversified telecommunication services industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Warner Bros. Discovery, Inc., an entertainment company, and Alphabet, Inc., Class A, an interactive media & services company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Media industry, followed by the wireless telecommunication services industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Trade Desk, Inc. (The), Class A, a media company, and Charter Communications, Inc., Class A, a media company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10127020.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;">Since<br/>Inception<br/>(11/7/18)</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Communication Services ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.39<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.04<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.84<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Communication Services Plus Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.17<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.23<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Communication Services Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">55.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.08<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.23<span>%</span></td> </tr> </table> 2018-11-07 Invesco S&P 500® Equal Weight Communication Services ETF — NAV Return 0.1039 0.0104 0.0684 S&P 500® Equal Weight Communication Services Plus Index 0.1019 0.0130 0.0717 S&P 500® Index 0.3105 0.1314 0.1523 S&P 500® Communication Services Index 0.5591 0.1508 0.1823 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>64,223,952</td> </tr> <tr style="break-inside: avoid-page; 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;">28</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>277,687</td> </tr> <tr style="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;">38<span>%</span></td> </tr> </table>

64223952

28 277687

0.38

<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;">EchoStar Corp., 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Paramount Skydance 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;">4.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.74<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;">Pinterest, 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;">4.67<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;">Take-Two Interactive Software, 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;">4.67<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;">Electronic Arts, 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;">4.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">New York Times Co. (The), 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;">4.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Netflix, 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Warner Bros. Discovery, 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;">4.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AT&T, 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;">4.43<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>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_10127025.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;">EchoStar Corp., 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;">5.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Paramount Skydance 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;">4.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walt Disney Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">4.74<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;">Pinterest, 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;">4.67<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;">Take-Two Interactive Software, 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;">4.67<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;">Electronic Arts, 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;">4.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">New York Times Co. (The), 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;">4.66<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Netflix, 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;">4.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Warner Bros. Discovery, 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;">4.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AT&T, 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;">4.43<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> 0.0506 0.0475 0.0474 0.0467 0.0467 0.0466 0.0466 0.0455 0.0448 0.0443 Invesco S&P 500® Equal Weight Consumer Discretionary ETF Invesco S&P 500® Equal Weight Consumer Discretionary ETF RSPD This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Discretionary ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Discretionary ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 43 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, consumer discretionary stocks underperformed the broader market. The Fund's focus on consumer discretionary securities created a performance headwind relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Discretionary Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 14.41%, differed from the return of the Index, 14.87%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Hotels, restaurants & leisure industry, followed by the automobiles and broadline retail industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Tapestry, Inc., a textiles, apparel & luxury goods company, and General Motors Co., an automobiles company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Distributors industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> lululemon athletica, Inc., a textiles, apparel & luxury goods company, and CarMax, Inc., a specialty retail company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126120.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Discretionary ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.24<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Discretionary Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Discretionary Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.23<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.16<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Consumer Discretionary ETF — NAV Return 0.1441 0.0324 0.0803 S&P 500® Equal Weight Consumer Discretionary Index 0.1487 0.0364 0.0842 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Consumer Discretionary Index 0.2523 0.0719 0.1316 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>277,538,222</td> </tr> <tr style="break-inside: avoid-page; 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;">49</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>906,200</td> </tr> <tr style="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;">27<span>%</span></td> </tr> </table>

277538222

49 906200

0.27

<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;">Carvana 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.67<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;">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;">2.60<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;">eBay, 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;">2.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Marriott International, 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;">2.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">D.R. Horton, 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;">Expedia 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;">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;">MGM Resorts International</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wynn Resorts 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;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ross Stores, 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;">2.23<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>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_10126125.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;">Carvana 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.67<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;">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;">2.60<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;">eBay, 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;">2.36<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Marriott International, 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;">2.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">D.R. Horton, 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;">Expedia 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;">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;">MGM Resorts International</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Wynn Resorts 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;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ross Stores, 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;">2.23<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> 0.0267 0.0260 0.0236 0.0231 0.0228 0.0225 0.0225 0.0224 0.0223 0.0223 Invesco S&P 500® Equal Weight Consumer Staples ETF Invesco S&P 500® Equal Weight Consumer Staples ETF RSPS This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Staples ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Staples ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>40</td> <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;">0.40<span>%</span></td> </tr> </table> 40 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, consumer staples stocks underperformed the broader market. The Fund's focus on consumer staples securities created a performance headwind relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Staples Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 0.77%, differed from the return of the Index, 1.10%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples distribution & retail industry, followed by the tobacco and personal care products industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Bunge Global S.A., a food products company, and Archer-Daniels-Midland Co., a food products company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Food products industry, followed by the household products industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Campbell's Co. (The), a food products company, and Conagra Brands, Inc., a food products company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126156.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Staples ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">0.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.61<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Consumer Staples Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.10<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">1.46<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Consumer Staples Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.27<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.72<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.84<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Consumer Staples ETF — NAV Return 0.0077 0.0105 0.0461 S&P 500® Equal Weight Consumer Staples Index 0.0110 0.0146 0.0503 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Consumer Staples Index 0.0827 0.0872 0.0884 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>239,325,498</td> </tr> <tr style="break-inside: avoid-page; 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;">38</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,005,473</td> </tr> <tr style="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;">29<span>%</span></td> </tr> </table>

239325498

38 1005473

0.29

<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;">Mondelez International, 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;">3.17<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;">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;">3.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Casey's General Stores, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Target 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tyson Foods, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walmart, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brown-Forman Corp., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Keurig Dr Pepper, 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;">3.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Constellation Brands, 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;">2.98<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>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_10126161.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;">Mondelez International, 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;">3.17<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;">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;">3.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Casey's General Stores, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Target 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tyson Foods, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Walmart, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Brown-Forman Corp., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Keurig Dr Pepper, 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;">3.04<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Constellation Brands, 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;">2.98<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> 0.0317 0.0313 0.0312 0.0312 0.0306 0.0305 0.0304 0.0304 0.0301 0.0298 Invesco S&P 500® Equal Weight Energy ETF Invesco S&P 500® Equal Weight Energy ETF RSPG This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Energy ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Energy ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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;">0.40<span>%</span></td> </tr> </table> 52 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, energy stocks outperformed the broader market. The Fund's focus on energy securities created a performance tailwind relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Energy Plus Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 60.44%, differed from the return of the Index, 61.16%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Oil, gas & consumable fuels industry, followed by the energy equipment & services industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | APA Corp., an oil, gas & consumable fuels company, and Valero Energy Corp., an oil, gas & consumable fuels company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No industries detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> No positions detracted from the Fund's performance during the period.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126192.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Energy ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">60.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.37<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.85<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Custom Invesco S&P 500 Equal Weight Energy ETF Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">61.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.93<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.28<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Energy Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">52.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.14<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Energy ETF — NAV Return 0.6044 0.2537 0.0985 Custom Invesco S&P 500 Equal Weight Energy ETF Benchmark 0.6116 0.2593 0.1028 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Energy Index 0.5240 0.2412 0.1014 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>628,520,338</td> </tr> <tr style="break-inside: avoid-page; 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;">25</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,877,773</td> </tr> <tr style="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;">21<span>%</span></td> </tr> </table>

628520338

25 1877773

0.21

<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;">APA 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;">5.22<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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">SLB 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;">4.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Halliburton 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Diamondback Energy, 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Coterra Energy, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Devon Energy 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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources 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;">4.65<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;">Marathon Petroleum 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;">4.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valero Energy 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;">4.62<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>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_10126197.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;">APA 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;">5.22<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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">5.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">SLB 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;">4.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Halliburton 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Diamondback Energy, 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Coterra Energy, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Devon Energy 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;">4.79<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Targa Resources 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;">4.65<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;">Marathon Petroleum 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;">4.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valero Energy 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;">4.62<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> 0.0522 0.0500 0.0499 0.0498 0.0492 0.0484 0.0479 0.0465 0.0463 0.0462 Invesco S&P 500® Equal Weight ETF Invesco S&P 500® Equal Weight ETF RSP This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.20<span>%</span></td> </tr> </table> 22 0.0020 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund's equal weighting methodology led to lower exposure to mega cap stocks, creating a performance headwind relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 22.17%, differed from the return of the Index, 22.39%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and energy sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Western Digital Corp., an information technology company, and Seagate Technology Holdings PLC, an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sectors detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Trade Desk, Inc. (The), Class A, a communication services company, and Gartner, Inc., an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126228.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.74<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.39<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.50<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.96<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight ETF — NAV Return 0.2217 0.0829 0.1174 S&P 500® Equal Weight Index 0.2239 0.0850 0.1196 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>87,863,828,921</td> </tr> <tr style="break-inside: avoid-page; 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;">508</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>154,034,826</td> </tr> <tr style="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;">27<span>%</span></td> </tr> </table>

87863828921

508 154034826

0.27

<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;">Intel 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;">0.38<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;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">0.33<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;">ON 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.33<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;">Sandisk 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;">0.32<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;">Western Digital 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;">0.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ciena 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;">0.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Centene 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;">0.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NXP Semiconductors N.V.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">0.28<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_10126233.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;">Intel 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;">0.38<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;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Advanced Micro 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;">0.33<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;">ON 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.33<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;">Sandisk 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;">0.32<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;">Western Digital 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;">0.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ciena 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;">0.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">0.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Centene 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;">0.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NXP Semiconductors N.V.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">0.28<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> 0.0038 0.0034 0.0033 0.0033 0.0032 0.0031 0.0030 0.0029 0.0029 0.0028 Invesco S&P 500® Equal Weight Financials ETF Invesco S&P 500® Equal Weight Financials ETF RSPF This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Financials ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Financials ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 42 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, financials stocks underperformed the broader market. The Fund's focus on financials securities created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Financials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 11.00%, differed from the return of the Index, 11.49%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Banks industry, followed by capital markets and consumer finance industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Invesco Ltd., a capital markets company, and Citigroup, Inc., a banks company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Financial services industry, followed by the insurance industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Fiserv, Inc., a financial services company, and Brown & Brown, Inc., an insurance company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126264.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Financials ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.00<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.99<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.85<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Financials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.36<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Financials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.89<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Financials ETF — NAV Return 0.1100 0.0699 0.1185 S&P 500® Equal Weight Financials Index 0.1149 0.0742 0.1236 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Financials Index 0.0858 0.0951 0.1289 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares. <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>276,798,716</td> </tr> <tr style="break-inside: avoid-page; 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;">79</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,218,335</td> </tr> <tr style="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;">24<span>%</span></td> </tr> </table>

276798716

79 1218335

0.24

<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;">Apollo Global Management, 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;">1.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">State Street 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;">1.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Franklin Resources, 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;">1.49<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">KKR & Co., 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;">1.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Northern Trust 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;">1.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Citigroup, 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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Blackstone, 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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Synchrony Financial</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Interactive Brokers Group, 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;">1.44<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>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_10126269.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;">Apollo Global Management, 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;">1.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">State Street 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;">1.50<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Franklin Resources, 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;">1.49<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">KKR & Co., 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;">1.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Morgan Stanley</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Northern Trust 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;">1.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Citigroup, 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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Blackstone, 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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Synchrony Financial</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Interactive Brokers Group, 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;">1.44<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> 0.0150 0.0150 0.0149 0.0148 0.0147 0.0146 0.0145 0.0145 0.0145 0.0144 Invesco S&P 500® Equal Weight Health Care ETF Invesco S&P 500® Equal Weight Health Care ETF RSPH This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Health Care ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Health Care ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td> <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;">0.40<span>%</span></td> </tr> </table> 41 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, health care stocks underperformed the broader market. The Fund's focus on health care securities created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Health Care Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 7.16%, differed from the return of the Index, 7.55%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Biotechnology industry, followed by pharmaceuticals and life sciences tools & services industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Viatris, Inc., a pharmaceuticals company, and Moderna, Inc., a biotechnology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Health care equipment & supplies industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Molina Healthcare, Inc., a health care providers & services company (no longer held at fiscal year-end), and Boston Scientific Corp., a health care equipment & supplies company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126300.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Health Care ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.35<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Health Care Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.55<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">2.76<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Health Care Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.54<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.61<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Health Care ETF — NAV Return 0.0716 0.0235 0.0813 S&P 500® Equal Weight Health Care Index 0.0755 0.0276 0.0855 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Health Care Index 0.0577 0.0554 0.0961 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares. <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>689,439,567</td> </tr> <tr style="break-inside: avoid-page; 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;">62</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>2,928,674</td> </tr> <tr style="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;">24<span>%</span></td> </tr> </table>

689439567

62 2928674

0.24

<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;">Centene 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Humana, 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;">2.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Elevance Health, 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;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">West Pharmaceutical 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cigna Group (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.97<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;">CVS Health 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;">1.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viatris, 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mettler-Toledo International, 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;">1.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Waters 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;">1.84<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>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_10126305.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;">Centene 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Humana, 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;">2.44<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Elevance Health, 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;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">West Pharmaceutical 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cigna Group (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.97<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;">CVS Health 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;">1.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viatris, 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mettler-Toledo International, 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;">1.84<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Waters 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;">1.84<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> 0.0265 0.0244 0.0230 0.0230 0.0221 0.0197 0.0194 0.0189 0.0184 0.0184 Invesco S&P 500® Equal Weight Industrials ETF Invesco S&P 500® Equal Weight Industrials ETF RSPN This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Industrials ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Industrials ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>45</td> <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;">0.40<span>%</span></td> </tr> </table> 45 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, industrials stocks outperformed the broader market. Despite this, Fund's equal weighting methodology created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Industrials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 27.21%, differed from the return of the Index, 27.74%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Machinery industry, followed by electrical equipment and aerospace & defense industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | GE Vernova, Inc., an electrical equipment company, and Caterpillar, Inc., a machinery company</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Professional services industry, followed by the commercial services & supplies industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Copart, Inc., a commercial services & supplies company, and Paycom Software, Inc., a professional services company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126336.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Industrials ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">27.21<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.73<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Industrials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">27.74<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Industrials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.84<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.74<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Industrials ETF — NAV Return 0.2721 0.1173 0.1455 S&P 500® Equal Weight Industrials Index 0.2774 0.1217 0.1500 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Industrials Index 0.3484 0.1317 0.1374 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,002,288,442</td> </tr> <tr style="break-inside: avoid-page; 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;">82</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>2,981,051</td> </tr> <tr style="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;">23<span>%</span></td> </tr> </table>

1002288442

82 2981051

0.23

<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">GE Vernova, 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;">1.58<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;">Caterpillar, 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;">1.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">EMCOR 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;">1.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">United Rentals, 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;">1.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; 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;">Generac 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; 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;">Eaton Corp. 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; 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;">Cummins, 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;">1.49<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; 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-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); flex-grow: 1px; flex-shrink: 1px; flex-basis: 0px; break-inside: avoid; width: 41.5%; padding-left: 10pt; border-left-color: rgb(0, 0, 0); border-left-style: solid; border-left-width: 0.5pt; box-sizing: border-box; display: table-cell; float: none;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0);"> <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>Industry allocation </b> <br/><b>(% of net assets)</b></div> </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_10126341.jpg" style="width: 172.8pt;"/> </div> </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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">GE Vernova, 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;">1.58<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;">Caterpillar, 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;">1.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">EMCOR 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;">1.53<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">United Rentals, 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;">1.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; 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;">Generac 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; 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;">Eaton Corp. 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; 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;">Cummins, 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;">1.49<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; 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> 0.0162 0.0159 0.0158 0.0156 0.0153 0.0152 0.0151 0.0151 0.0151 0.0149 Invesco S&P 500® Equal Weight Materials ETF Invesco S&P 500® Equal Weight Materials ETF RSPM This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Materials ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Materials ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 46 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, materials stocks underperformed the broader market. The Fund's focus on material securities created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Materials Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 30.05%, differed from the return of the Index, 30.58%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Chemicals industry, followed by metals & mining and construction materials industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Albemarle Corp., a chemicals company, and Newmont Corp., a metals & mining company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No industries detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> International Paper Co., a containers & packaging company, and Eastman Chemical Co., a chemicals company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126372.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Materials ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.61<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Materials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">30.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.99<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.17<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Materials Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.85<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.37<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.31<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Materials ETF — NAV Return 0.3005 0.0561 0.1076 S&P 500® Equal Weight Materials Index 0.3058 0.0599 0.1117 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Materials Index 0.2385 0.0637 0.1031 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>180,895,576</td> </tr> <tr style="break-inside: avoid-page; 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;">29</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>665,605</td> </tr> <tr style="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;">34<span>%</span></td> </tr> </table>

180895576

29 665605

0.34

<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;">Nucor 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Steel Dynamics, 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;">4.65<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;">Dow, 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;">4.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Albemarle 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CRH 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.27<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;">Vulcan Materials 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.25<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;">LyondellBasell Industries N.V., 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;">4.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Air Products and Chemicals, 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;">4.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PPG Industries, 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;">3.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Linde 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.90<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>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_10126377.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;">Nucor 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;">4.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Steel Dynamics, 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;">4.65<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;">Dow, 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;">4.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Albemarle 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CRH 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.27<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;">Vulcan Materials 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.25<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;">LyondellBasell Industries N.V., 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;">4.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Air Products and Chemicals, 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;">4.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PPG Industries, 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;">3.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Linde 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.90<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> 0.0492 0.0465 0.0442 0.0439 0.0427 0.0425 0.0415 0.0405 0.0391 0.0390 Invesco S&P 500® Equal Weight Real Estate ETF Invesco S&P 500® Equal Weight Real Estate ETF RSPR This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Real Estate ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Real Estate ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td> <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;">0.40<span>%</span></td> </tr> </table> 41 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, real estate stocks underperformed the broader market. The Fund's focus on real estate securities created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Real Estate Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 5.87%, differed from the return of the Index, 6.32%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Retail REITs industry, followed by the specialized REITs and hotel & resort REITs industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Host Hotels & Resorts, Inc., a hotel & resort REITs company, and Iron Mountain, Inc., a specialized REITs company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Residential REITs industry, followed by the real estate management & development industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> CoStar Group, Inc., a real estate management & development company, and Alexandria Real Estate Equities, Inc., a health care REITs company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126408.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Real Estate ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Real Estate Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.32<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">3.54<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.79<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Real Estate Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; 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;"><span class="sec-hidden" style="-sec-ix-hidden: h_1337_839dec99_4eca_4eb9_aca1_dc41cdc10de4;">N/A</span></td> </tr> </table> Invesco S&P 500® Equal Weight Real Estate ETF — NAV Return 0.0587 0.0314 0.0640 S&P 500® Equal Weight Real Estate Index 0.0632 0.0354 0.0679 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Real Estate Index 0.1265 0.0451 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>98,234,725</td> </tr> <tr style="break-inside: avoid-page; 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;">32</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>420,810</td> </tr> <tr style="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;">14<span>%</span></td> </tr> </table>

98234725

32 420810

0.14

<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;">SBA Communications Corp., 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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Iron Mountain, 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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Invitation Homes, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BXP, 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;">3.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Digital Realty Trust, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Equinix, 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;">3.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Host Hotels & Resorts, 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Equity Residential</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CBRE Group, 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;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Simon Property 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;">3.34<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>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_10126413.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;">SBA Communications Corp., 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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Iron Mountain, 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;">3.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Invitation Homes, 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;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">BXP, 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;">3.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Digital Realty Trust, 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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Equinix, 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;">3.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Host Hotels & Resorts, 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;">3.42<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Equity Residential</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CBRE Group, 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;">3.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Simon Property 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;">3.34<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> 0.0364 0.0364 0.0354 0.0348 0.0346 0.0345 0.0342 0.0337 0.0334 0.0334 Invesco S&P 500® Equal Weight Technology ETF Invesco S&P 500® Equal Weight Technology ETF RSPT This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Technology ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Technology ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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;">0.40<span>%</span></td> </tr> </table> 51 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, information technology stocks outperformed the broader market. The Fund's focus on information technology securities created a performance tailwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Information Technology Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 55.68%, differed from the return of the Index, 56.35%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Semiconductors & semiconductor equipment industry, followed by the technology hardware, storage & peripherals and electronic equipment, instruments & components industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Western Digital Corp., a technology hardware, storage & peripherals company, and Seagate Technology Holdings PLC, a technology hardware, storage & peripherals company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Software industry, followed by the IT services industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Gartner, Inc., an IT services company, and GoDaddy, Inc., Class A, an IT services company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126444.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Technology ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">55.68<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.50<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Information Technology Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">56.35<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Information Technology Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">49.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">20.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.49<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Technology ETF — NAV Return 0.5568 0.1470 0.2050 S&P 500® Equal Weight Information Technology Index 0.5635 0.1516 0.2099 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Information Technology Index 0.4917 0.2077 0.2549 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>4,682,892,296</td> </tr> <tr style="break-inside: avoid-page; 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;">76</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>15,536,735</td> </tr> <tr style="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;">31<span>%</span></td> </tr> </table>

4682892296

76 15536735

0.31

<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;">Intel 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;">2.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Advanced Micro 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;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ON 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sandisk 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Western Digital 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ciena 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.80<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;">NXP Semiconductors N.V.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dell Technologies, Inc., 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.69<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>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_10126449.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;">Intel 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;">2.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Seagate Technology Holdings 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Advanced Micro 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;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ON 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sandisk 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;">1.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Western Digital 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ciena 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.80<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;">NXP Semiconductors N.V.</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dell Technologies, Inc., 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.69<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> 0.0234 0.0208 0.0206 0.0203 0.0199 0.0193 0.0185 0.0180 0.0175 0.0169 Invesco S&P 500® Equal Weight Utilities ETF Invesco S&P 500® Equal Weight Utilities ETF RSPU This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Utilities ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Utilities ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.40<span>%</span></td> </tr> </table> 44 0.0040 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, utilities stocks underperformed the broader market. The Fund's focus on utilities securities created a performance headwind compared to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Utilities Plus Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 21.11%, differed from the return of the Index, 21.59%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Electric utilities industry, followed by the multi-utilities and independent power & renewable electricity producers industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | NRG Energy, Inc., an electric utilities company, and AES Corp. (The), an independent power and renewable electricity producers company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Water utilities industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> American Water Works Co., Inc., a water utilities company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126480.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Utilities ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">21.11<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Equal Weight Utilities Plus Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">21.59<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.03<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.74<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Utilities Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.10<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.39<span>%</span></td> </tr> </table> Invesco S&P 500® Equal Weight Utilities ETF — NAV Return 0.2111 0.1158 0.1031 S&P 500® Equal Weight Utilities Plus Index 0.2159 0.1203 0.1074 S&P 500® Index 0.3105 0.1314 0.1526 S&P 500® Utilities Index 0.2210 0.1040 0.1039 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>586,170,477</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,983,444</td> </tr> <tr style="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;">9<span>%</span></td> </tr> </table>

586170477

33 1983444

0.09

<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;">Entergy 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;">3.61<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;">NextEra Energy, 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;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">NRG Energy, 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;">3.33<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;">American Electric Power Co., 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NiSource, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Constellation Energy 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">WEC Energy 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ameren 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Alliant Energy 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;">3.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Dominion Energy, 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;">3.30<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>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_10126485.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;">Entergy 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;">3.61<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;">NextEra Energy, 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;">3.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">NRG Energy, 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;">3.33<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;">American Electric Power Co., 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">NiSource, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Constellation Energy 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">WEC Energy 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ameren 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;">3.31<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Alliant Energy 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;">3.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Dominion Energy, 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;">3.30<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> 0.0361 0.0340 0.0333 0.0332 0.0332 0.0331 0.0331 0.0331 0.0330 0.0330 Invesco S&P 500 GARP ETF Invesco S&P 500 GARP ETF SPGP This annual shareholder report contains important information about Invesco S&P 500 GARP ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500 GARP ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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;">0.34<span>%</span></td> </tr> </table> 38 0.0034 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund underperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its underweight allocation to and security selection within the information technology sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 22.53%, differed from the return of the Index, 22.98%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the energy and information technology sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Monolithic Power Systems, Inc., an information technology company, and Arista Networks, Inc., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Super Micro Computer, Inc., an information technology company, and Gartner, Inc., an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126012.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500 GARP ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.53<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.80<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.80<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.21<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco S&P 500 GARP ETF — NAV Return 0.2253 0.0780 0.1480 Blended - S&P 500® GARP Index 0.2298 0.0817 0.1521 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>2,198,773,227</td> </tr> <tr style="break-inside: avoid-page; 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;">76</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>7,422,652</td> </tr> <tr style="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;">90<span>%</span></td> </tr> </table>

2198773227

76 7422652

0.90

<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Host Hotels & Resorts, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Arista Networks, 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;">2.60<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;">Airbnb, 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;">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;">Delta Air Lines, 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;">Uber Technologies, 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;">2.17<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;">Northern Trust 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;">2.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.10<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;">EMCOR 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;">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; 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_10126017.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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">2.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Host Hotels & Resorts, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Arista Networks, 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;">2.60<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;">Airbnb, 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;">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;">Delta Air Lines, 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;">Uber Technologies, 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;">2.17<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;">Northern Trust 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;">2.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Baker Hughes 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.10<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;">EMCOR 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;">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; 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> 0.0313 0.0271 0.0269 0.0260 0.0225 0.0225 0.0217 0.0216 0.0210 0.0205 Invesco S&P 500® Pure Growth ETF Invesco S&P 500® Pure Growth ETF RPG This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.35<span>%</span></td> </tr> </table> 42 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index primarily due to strong security selection in the information technology sector and an overweight allocation to the industrials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 38.86%, differed from the return of the Index, 39.33%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and consumer discretionary sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Sandisk Corp., an information technology company, and Comfort Systems USA, Inc., an industrials company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector, followed by the energy and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Trade Desk, Inc. (The), Class A, a communication services company (no longer held at fiscal year-end), and Robinhood Markets, Inc., Class A, a financials company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126516.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.33<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.50<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.22<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">37.74<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.70<span>%</span></td> </tr> </table> Invesco S&P 500® Pure Growth ETF — NAV Return 0.3886 0.1012 0.1382 S&P 500® Pure Growth Index 0.3933 0.1050 0.1422 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P 500® Growth Index 0.3774 0.1426 0.1770 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,891,153,989</td> </tr> <tr style="break-inside: avoid-page; 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;">68</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>5,773,482</td> </tr> <tr style="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;">69<span>%</span></td> </tr> </table>

1891153989

68 5773482

0.69

<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;">Sandisk 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;">5.97<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ciena 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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Micron Technology, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">KLA 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;">2.12<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;">Howmet Aerospace, 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;">2.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.08<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_10126521.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;">Sandisk 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;">5.97<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ciena 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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Micron Technology, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">KLA 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;">2.12<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;">Howmet Aerospace, 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;">2.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.08<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> 0.0597 0.0371 0.0298 0.0287 0.0243 0.0224 0.0217 0.0212 0.0211 0.0208 Invesco S&P 500® Pure Value ETF Invesco S&P 500® Pure Value ETF RPV This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>40</td> <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;">0.35<span>%</span></td> </tr> </table> 40 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index primarily due to strong security selection in the financials and energy sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 29.06%, differed from the return of the Index, 29.14%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the energy and consumer staples sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Warner Bros. Discovery, Inc., a communication services company, and General Motors Co., a consumer discretionary company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Real estate sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Molina Healthcare, Inc., a health care company (no longer held at fiscal year-end), and Mosaic Co., a materials company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126552.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.06<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.45<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.75<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.13<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.90<span>%</span></td> </tr> </table> Invesco S&P 500® Pure Value ETF — NAV Return 0.2906 0.1029 0.1045 S&P 500® Pure Value Index 0.2914 0.1057 0.1075 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P 500® Value Index 0.2396 0.1113 0.1190 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares. <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>1,826,309,395</td> </tr> <tr style="break-inside: avoid-page; 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;">125</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>5,137,848</td> </tr> <tr style="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;">38<span>%</span></td> </tr> </table>

1826309395

125 5137848

0.38

<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;">Dow, 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;">2.65<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;">Bunge Global 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Centene 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;">2.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Archer-Daniels-Midland 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; 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;">LyondellBasell Industries N.V., 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;">1.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tyson Foods, 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cigna Group (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ford Motor 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CVS Health 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;">1.73<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;">Mosaic Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.73<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_10126557.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;">Dow, 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;">2.65<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;">Bunge Global 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Centene 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;">2.29<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Archer-Daniels-Midland 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; 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;">LyondellBasell Industries N.V., 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;">1.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tyson Foods, 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Cigna Group (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ford Motor 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">CVS Health 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;">1.73<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;">Mosaic Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.73<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> 0.0265 0.0263 0.0229 0.0217 0.0198 0.0186 0.0176 0.0175 0.0173 0.0173 Invesco S&P 500® Quality ETF Invesco S&P 500® Quality ETF SPHQ This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>17</td> <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;">0.15<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; 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> 17 0.0015 <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 0px;"> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, securities with a greater exposure to the quality factor, a composite measure of return-on-equity, leverage, and balance sheet accruals, underperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index. The Fund's methodology focuses on securities with these features, creating a headwind to Fund performance relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> </div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 23.96%, differed from the return of the Index, 24.16%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> </div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and communication services sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Lam Research Corp., an information technology company, and Caterpillar, Inc., an industrials company.</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); break-inside: avoid;"> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> </div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> AppLovin Corp., Class A, an information technology company, and Adobe, Inc., an information technology company.</div> </div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126588.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.96<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.73<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.44<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">24.16<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.92<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.66<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco S&P 500® Quality ETF — NAV Return 0.2396 0.1373 0.1444 S&P 500® Quality Index 0.2416 0.1392 0.1466 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>17,273,061,625</td> </tr> <tr style="break-inside: avoid-page; 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;">102</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>14,492,922</td> </tr> <tr style="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;">38<span>%</span></td> </tr> </table>

17273061625

102 14492922

0.38

<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;">Costco Wholesale 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;">4.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Visa, 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;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.51<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;">Mastercard, 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;">4.32<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;">General Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lam Research 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;">4.09<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;">Caterpillar, 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;">3.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Procter & Gamble Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Coca-Cola Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.34<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_10126593.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;">Costco Wholesale 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;">4.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Visa, 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;">4.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.51<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;">Mastercard, 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;">4.32<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;">General Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.16<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lam Research 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;">4.09<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;">Caterpillar, 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;">3.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Cisco 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Procter & Gamble Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.46<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Coca-Cola Co. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">3.34<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> 0.0481 0.0469 0.0451 0.0432 0.0416 0.0409 0.0378 0.0354 0.0346 0.0334 Invesco S&P 500® Top 50 ETF Invesco S&P 500® Top 50 ETF XLG This annual shareholder report contains important information about Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Top 50 ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Top 50 ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.20<span>%</span></td> </tr> </table> 23 0.0020 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to overweight allocations to the communication services and information technology sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Top 50 Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 33.76%, differed from the return of the Index, 34.05%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the communication services and consumer discretionary sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | NVIDIA Corp., an information technology company, and Alphabet, Inc., Class A, a communication services company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sector allocations detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Berkshire Hathaway, Inc., Class B, a financials company, and ServiceNow, Inc., an information technology company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126624.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Top 50 ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">33.76<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Top 50 Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.52<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.25<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 100<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">33.29<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.90<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.51<span>%</span></td> </tr> </table> Invesco S&P 500® Top 50 ETF — NAV Return 0.3376 0.1530 0.1701 S&P 500® Top 50 Index 0.3405 0.1552 0.1725 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P 100® Index 0.3329 0.1490 0.1651 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>10,739,566,254</td> </tr> <tr style="break-inside: avoid-page; 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;">52</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>20,946,239</td> </tr> <tr style="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;">6<span>%</span></td> </tr> </table>

10739566254

52 20946239

0.06

<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;">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;">13.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">10.70<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; 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;">8.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">6.96<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; 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;">6.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.80<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;">Meta Platforms, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tesla, 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;">2.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.33<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_10126629.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;">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;">13.03<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">10.70<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; 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;">8.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">6.96<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; 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;">6.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">4.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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 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); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.80<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;">Meta Platforms, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tesla, 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;">2.88<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Berkshire Hathaway, Inc., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.33<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> 0.1303 0.1070 0.0813 0.0696 0.0602 0.0482 0.0480 0.0360 0.0288 0.0233 Invesco S&P 500 Value with Momentum ETF Invesco S&P 500 Value with Momentum ETF SPVM This annual shareholder report contains important information about Invesco S&P 500 Value with Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500 Value with Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>45</td> <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;">0.39<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;"> <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> 45 0.0039 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund outperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its security selection within the financials sector and relative overweight allocation to the energy sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> High Momentum Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 31.28%, differed from the return of the Index, 31.58%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the energy and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | General Motors Co., a consumer discretionary company, and Warner Bros. Discovery, Inc., a communication services company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sector detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Charter Communications, Inc., Class A , a communication services company (no longer held at fiscal year-end), and Berkshire Hathaway, Inc., Class B, a financials company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126048.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P 500 Value with Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.28<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.47<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.84<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> High Momentum Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.58<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.26<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco S&P 500 Value with Momentum ETF — NAV Return 0.3128 0.1047 0.1184 Blended - S&P 500® High Momentum Value Index 0.3158 0.1087 0.1226 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>120,306,844</td> </tr> <tr style="break-inside: avoid-page; 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;">104</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>195,516</td> </tr> <tr style="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;">58<span>%</span></td> </tr> </table>

120306844

104 195516

0.58

<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;">Bunge Global 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">General Motors 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ford Motor 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Verizon Communications, 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;">1.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valero Energy 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;">1.61<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;">Marathon Petroleum 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;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Phillips 66</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Allstate Corp. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.49<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Franklin Resources, 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;">1.49<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; 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_10126053.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;">Bunge Global 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Archer-Daniels-Midland 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">General Motors 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Ford Motor 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.82<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Verizon Communications, 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;">1.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valero Energy 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;">1.61<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;">Marathon Petroleum 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;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Phillips 66</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Allstate Corp. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.49<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Franklin Resources, 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;">1.49<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; 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> 0.0278 0.0206 0.0182 0.0182 0.0163 0.0161 0.0155 0.0154 0.0149 0.0149 Invesco S&P MidCap 400® GARP ETF Invesco S&P MidCap 400® GARP ETF GRPM This annual shareholder report contains important information about Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>40</td> <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;">0.35<span>%</span></td> </tr> </table> 40 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund's underperformance relative to the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index was primarily due to its security selection within the information technology sector and underweight allocation to the industrials sector, which resulted from its growth and value multifactor security selection methodology.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 26.47%, differed from the return of the Index, 26.92%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Energy sector, followed by the financials and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Valaris Ltd., an energy company, and Comfort Systems USA, Inc., an industrials company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector, followed by the materials sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Him & Hers Health, Inc., Class A, a health care company (no longer held at fiscal year-end), and Duolingo, Inc., a consumer discretionary company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126660.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.47<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> GARP Benchmark</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.92<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.82<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.29<span>%</span></td> </tr> </table> Invesco S&P MidCap 400® GARP ETF — NAV Return 0.2647 0.0744 0.1101 Blended - Invesco S&P MidCap 400® GARP Benchmark 0.2692 0.0782 0.1141 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Index 0.2949 0.0760 0.1129 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>485,990,330</td> </tr> <tr style="break-inside: avoid-page; 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;">61</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,656,131</td> </tr> <tr style="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;">75<span>%</span></td> </tr> </table>

485990330

61 1656131

0.75

<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;">Lantheus 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.10<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;">Valaris 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;">3.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Permian Resources 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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">RenaissanceRe 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;">2.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Rambus, 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;">2.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">East West Bancorp, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Halozyme Therapeutics, 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;">2.13<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_10126665.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;">Lantheus 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.71<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.10<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;">Valaris 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;">3.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Permian Resources 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;">2.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">RenaissanceRe 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;">2.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Rambus, 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;">2.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">East West Bancorp, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Halozyme Therapeutics, 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;">2.13<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> 0.0371 0.0310 0.0308 0.0298 0.0289 0.0265 0.0239 0.0224 0.0215 0.0213 Invesco S&P MidCap 400® Pure Growth ETF Invesco S&P MidCap 400® Pure Growth ETF RFG This annual shareholder report contains important information about Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td> <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;">0.35<span>%</span></td> </tr> </table> 41 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index primarily due to its strong security selection in the industrials and energy sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 35.01%, differed from the return of the Index, 35.41%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by information technology and energy sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Comfort Systems USA, Inc., an industrials company (no longer held at fiscal year-end), and Valaris Ltd., an energy company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Sarepta Therapeutics, Inc., a health care company (no longer held at fiscal year-end), and Sprouts Farmers Market, Inc., a consumer staples company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126696.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">35.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.02<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">35.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.36<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.32<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.95<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.52<span>%</span></td> </tr> </table> Invesco S&P MidCap 400® Pure Growth ETF — NAV Return 0.3501 0.0602 0.1000 S&P MidCap 400® Pure Growth Index 0.3541 0.0636 0.1032 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Growth Index 0.3195 0.0698 0.1152 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>334,595,745</td> </tr> <tr style="break-inside: avoid-page; 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;">98</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,045,548</td> </tr> <tr style="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;">77<span>%</span></td> </tr> </table>

334595745

98 1045548

0.77

<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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Valaris 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;">2.32<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;">Arrowhead Pharmaceuticals, 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;">2.32<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Fabrinet</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TTM Technologies, 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;">2.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vicor 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;">1.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">1.97<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;">Woodward, 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;">1.97<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_10126701.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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Valaris 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;">2.32<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;">Arrowhead Pharmaceuticals, 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;">2.32<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.30<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Fabrinet</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TTM Technologies, 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;">2.07<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vicor 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;">1.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Carpenter Technology 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;">1.97<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;">Woodward, 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;">1.97<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> 0.0244 0.0232 0.0232 0.0230 0.0213 0.0208 0.0207 0.0198 0.0197 0.0197 Invesco S&P MidCap 400® Pure Value ETF Invesco S&P MidCap 400® Pure Value ETF RFV This annual shareholder report contains important information about Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td> <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;">0.35<span>%</span></td> </tr> </table> 41 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index primarily due to its strong security selection in the energy sector and overweight allocation to the energy and consumer discretionary sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 31.99%, differed from the return of the Index, 32.43%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Energy sector, followed by the consumer discretionary and information technology sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | HF Sinclair Corp., an energy company, and PBF Energy, Inc., Class A, an energy company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Concentrix Corp., an industrials company, and Goodyear Tire & Rubber Co., a consumer discretionary company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126732.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.99<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.47<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">32.43<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.84<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.54<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">26.94<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.10<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.74<span>%</span></td> </tr> </table> Invesco S&P MidCap 400® Pure Value ETF — NAV Return 0.3199 0.1047 0.1220 S&P MidCap 400® Pure Value Index 0.3243 0.1084 0.1254 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Value Index 0.2694 0.0810 0.1074 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>318,014,719</td> </tr> <tr style="break-inside: avoid-page; 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;">101</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>982,531</td> </tr> <tr style="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;">61<span>%</span></td> </tr> </table>

318014719

101 982531

0.61

<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;">Avnet, 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;">3.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Arrow Electronics, 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;">3.57<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;">PBF Energy, 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;">2.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">HF Sinclair 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;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TD SYNNEX 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;">2.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lear 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;">2.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Olin 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;">2.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PVH 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;">2.09<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;">Brighthouse Financial, 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chord Energy 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;">1.87<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_10126737.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;">Avnet, 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;">3.75<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Arrow Electronics, 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;">3.57<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;">PBF Energy, 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;">2.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">HF Sinclair 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;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TD SYNNEX 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;">2.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lear 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;">2.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Olin 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;">2.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PVH 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;">2.09<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;">Brighthouse Financial, 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Chord Energy 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;">1.87<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> 0.0375 0.0357 0.0283 0.0241 0.0240 0.0220 0.0218 0.0209 0.0193 0.0187 Invesco S&P MidCap Momentum ETF Invesco S&P MidCap Momentum ETF XMMO This annual shareholder report contains important information about Invesco S&P MidCap Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td> <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;">0.34<span>%</span></td> </tr> </table> 41 0.0034 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, the Fund outperformed the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to its security selection within the information technology and industrials sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Momentum Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 39.49%, differed from the return of the Index, 40.04%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the information technology and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Lumentum Holdings, Inc., an information technology company (no longer held at fiscal year-end), and Comfort Systems USA, Inc., an industrials company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer discretionary sector, followed by the consumer staples and communication services sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Sprouts Farmers Market, Inc., a consumer staples company (no longer held at fiscal year-end), and Duolingo, Inc., a consumer discretionary company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125904.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.29<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Momentum Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">40.04<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.67<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.29<span>%</span></td> </tr> </table> Invesco S&P MidCap Momentum ETF — NAV Return 0.3949 0.1426 0.1929 Blended - S&P MidCap 400® Momentum Index 0.4004 0.1467 0.1972 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Index 0.2949 0.0760 0.1129 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>6,804,339,837</td> </tr> <tr style="break-inside: avoid-page; 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;">79</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>13,949,322</td> </tr> <tr style="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;">129<span>%</span></td> </tr> </table>

6804339837

79 13949322

1.29

<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;">Curtiss-Wright 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.61<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;">Fabrinet</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ATI, 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;">2.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TTM Technologies, 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;">2.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Royal Gold, 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;">2.60<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;">Woodward, 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;">2.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">nVent Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.33<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.27<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; 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_10125909.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;">Curtiss-Wright 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;">3.92<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">3.61<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;">Fabrinet</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ATI, 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;">2.64<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">TTM Technologies, 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;">2.62<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Royal Gold, 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;">2.60<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;">Woodward, 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;">2.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.56<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">nVent Electric 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.33<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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.27<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; 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> 0.0392 0.0361 0.0287 0.0264 0.0262 0.0260 0.0259 0.0256 0.0233 0.0227 Invesco S&P MidCap Quality ETF Invesco S&P MidCap Quality ETF XMHQ This annual shareholder report contains important information about Invesco S&P MidCap Quality ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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> <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); font-kerning: none; text-align: left; font-weight: bold; vertical-align: bottom; padding: 6pt 3pt 3pt 3pt;">Fund</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Quality ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>27</td> <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;">0.25<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;"> <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> </div> 27 0.0025 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund's relative underperformance to the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index was primarily due to security selection in the information technology and financials sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 16.80%, differed from the return of the Index, 17.11%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by the energy and health care sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Comfort Systems USA, Inc., an industrials company (no longer held at fiscal year-end), and United Therapeutics Corp., a health care company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector, followed by the information technology sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Sprouts Farmers Market, Inc., a consumer staples company, and Hims & Hers Health, Inc., a health care company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125868.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Quality ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">16.80<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Quality Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.11<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.85<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.75<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.29<span>%</span></td> </tr> </table> Invesco S&P MidCap Quality ETF — NAV Return 0.1680 0.0857 0.1248 Blended - S&P MidCap 400® Quality Index 0.1711 0.0885 0.1275 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Index 0.2949 0.0760 0.1129 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>5,189,505,934</td> </tr> <tr style="break-inside: avoid-page; 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;">83</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>10,029,940</td> </tr> <tr style="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;">65<span>%</span></td> </tr> </table>

5189505934

83 10029940

0.65

<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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Therapeutics 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;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Illumina, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Twilio, 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;">3.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carlisle Cos., 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;">2.74<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;">Carpenter Technology 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;">2.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.61<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;">Medpace 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Nextpower, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Royal Gold, 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;">2.38<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_10125873.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;">TechnipFMC 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">4.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Therapeutics 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;">3.98<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Illumina, 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;">3.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Twilio, 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;">3.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Carlisle Cos., 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;">2.74<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;">Carpenter Technology 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;">2.72<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sterling Infrastructure, 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;">2.61<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;">Medpace 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Nextpower, 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Royal Gold, 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;">2.38<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> 0.0495 0.0398 0.0355 0.0300 0.0274 0.0272 0.0261 0.0254 0.0253 0.0238 Invesco S&P MidCap Value with Momentum ETF Invesco S&P MidCap Value with Momentum ETF XMVM This annual shareholder report contains important information about Invesco S&P MidCap Value with Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Value with Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.37<span>%</span></td> </tr> </table> 44 0.0037 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund's outperformance relative to the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index was primarily due to its focus on value securities, which outperformed broader mid-cap U.S. equities during the period. A large relative overweight allocation to the financials sector as well as strong security selection results within that sector were notably supportive of relative outperformance.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> High Momentum Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 38.46%, differed from the return of the Index, 39.06%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the communication services and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | EchoStar Corp., Class A, a communication services company (no longer held at fiscal year-end), and TD SYNNEX Corp., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Materials sector, followed by the consumer staples sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Kyndryl Holdings Inc., an information technology company, and Graphic Packaging Holding Co., a materials company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125940.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P MidCap Value with Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.46<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.07<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> High Momentum Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.06<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.82<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P MidCap 400<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">29.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.60<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.29<span>%</span></td> </tr> </table> Invesco S&P MidCap Value with Momentum ETF — NAV Return 0.3846 0.1040 0.1207 Blended - S&P MidCap 400® High Momentum Value Index 0.3906 0.1082 0.1248 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P MidCap 400® Index 0.2949 0.0760 0.1129 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>455,214,573</td> </tr> <tr style="break-inside: avoid-page; 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;">81</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>952,155</td> </tr> <tr style="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;">55<span>%</span></td> </tr> </table>

455214573

81 952155

0.55

<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;">TD SYNNEX 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;">2.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lear 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;">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;">HF Sinclair 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;">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;">Brighthouse Financial, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valaris 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;">2.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">PBF Energy, 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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">RenaissanceRe 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;">1.97<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;">Albertson's Cos., 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Graham Holdings Co., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Macy's, 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;">1.75<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_10125945.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;">TD SYNNEX 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;">2.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lear 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;">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;">HF Sinclair 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;">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;">Brighthouse Financial, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Valaris 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;">2.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">PBF Energy, 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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">RenaissanceRe 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;">1.97<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;">Albertson's Cos., 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;">1.89<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Graham Holdings Co., Class B</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Macy's, 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;">1.75<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> 0.0295 0.0261 0.0232 0.0215 0.0211 0.0208 0.0197 0.0189 0.0177 0.0175 Invesco S&P SmallCap 600® Pure Growth ETF Invesco S&P SmallCap 600® Pure Growth ETF RZG This annual shareholder report contains important information about Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.35<span>%</span></td> </tr> </table> 42 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index primarily due to its strong security selection in the financials and industrials sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 39.77%, differed from the return of the Index, 40.28%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Industrials sector, followed by information technology and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Powell Industries, Inc., an industrials company, and Protagonist Therapeutics, Inc., a health care company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> TG Therapeutics, Inc., a health care company, and ADMA Biologics, Inc., a health care company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126768.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.77<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.93<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.13<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">40.28<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.26<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.48<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">34.80<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.56<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.26<span>%</span></td> </tr> </table> Invesco S&P SmallCap 600® Pure Growth ETF — NAV Return 0.3977 0.0493 0.1013 S&P SmallCap 600® Pure Growth Index 0.4028 0.0526 0.1048 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P SmallCap 600® Growth Index 0.3480 0.0556 0.1126 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>121,800,817</td> </tr> <tr style="break-inside: avoid-page; 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;">133</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>366,821</td> </tr> <tr style="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;">81<span>%</span></td> </tr> </table>

121800817

133 366821

0.81

<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;">Powell Industries, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Argan, 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ACM Research, 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;">1.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Uniti 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;">1.65<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;">Primoris Services 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;">1.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">StoneX 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Clear Secure, 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;">1.61<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;">DXP Enterprises, 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;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Adeia, 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;">1.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Adamas Trust, 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;">1.45<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; 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_10126773.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;">Powell Industries, 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;">2.15<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Argan, 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">ACM Research, 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;">1.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Uniti 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;">1.65<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;">Primoris Services 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;">1.63<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">StoneX 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Clear Secure, 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;">1.61<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;">DXP Enterprises, 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;">1.55<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Adeia, 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;">1.54<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Adamas Trust, 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;">1.45<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; 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> 0.0215 0.0186 0.0168 0.0165 0.0163 0.0161 0.0161 0.0155 0.0154 0.0145 Invesco S&P SmallCap 600® Pure Value ETF Invesco S&P SmallCap 600® Pure Value ETF RZV This annual shareholder report contains important information about Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.35<span>%</span></td> </tr> </table> 44 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index primarily due to its strong security selection in and overweight allocation to the consumer discretionary and energy sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 51.70%, differed from the return of the Index, 52.07%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer discretionary sector, followed by the energy and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Viasat, Inc., an information technology company (no longer held at fiscal year-end), and Par Pacific Holdings, Inc., an energy company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sector allocations detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> B&G Foods, Inc., a consumer staples company (no longer held at fiscal year-end), and Grocery Outlet Holding Corp., a consumer staples company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126804.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">51.70<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.68<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.94<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Pure Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">52.07<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.04<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.26<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.27<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.67<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.28<span>%</span></td> </tr> </table> Invesco S&P SmallCap 600® Pure Value ETF — NAV Return 0.5170 0.1068 0.0994 S&P SmallCap 600® Pure Value Index 0.5207 0.1104 0.1026 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P SmallCap 600® Value Index 0.4327 0.0667 0.1028 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>267,333,971</td> </tr> <tr style="break-inside: avoid-page; 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;">162</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>790,911</td> </tr> <tr style="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;">69<span>%</span></td> </tr> </table>

267333971

162 790911

0.69

<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;">Ichor 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Acadia Healthcare Co., 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;">1.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Patterson-UTI Energy, 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;">1.61<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;">ArcBest 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;">1.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Edgewell Personal Care 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Molina Healthcare, 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;">1.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Koppers 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AdaptHealth 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;">1.22<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;">MarineMax, 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;">1.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ManpowerGroup, 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;">1.20<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_10126809.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;">Ichor 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;">1.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Acadia Healthcare Co., 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;">1.76<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Patterson-UTI Energy, 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;">1.61<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;">ArcBest 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;">1.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Edgewell Personal Care 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Molina Healthcare, 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;">1.34<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Koppers 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AdaptHealth 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;">1.22<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;">MarineMax, 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;">1.20<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">ManpowerGroup, 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;">1.20<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> 0.0193 0.0176 0.0161 0.0141 0.0139 0.0134 0.0123 0.0122 0.0120 0.0120 Invesco S&P SmallCap Momentum ETF Invesco S&P SmallCap Momentum ETF XSMO This annual shareholder report contains important information about Invesco S&P SmallCap Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.35<span>%</span></td> </tr> </table> 42 0.0035 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund's focus on momentum securities, or those with relatively stronger price returns over a trailing twelve-month period, was a notable driver of its relative outperformance versus the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index during the period, as investors continued to favor the momentum factor.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600 Momentum Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 41.41%, differed from the return of the Index, 42.00%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Information technology sector, followed by the industrials and financials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | TTM Technologies, Inc., an information technology company (no longer held at fiscal year-end), and Viavi Solutions, Inc., an information technology company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Health care sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> ADMA Biologics, Inc., a health care company (no longer held at fiscal year-end), and GEO Group, Inc. (The), an industrials company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125796.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">41.41<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.03<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Momentum Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">42.00<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.49<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.15<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.87<span>%</span></td> </tr> </table> Invesco S&P SmallCap Momentum ETF — NAV Return 0.4141 0.1203 0.1491 Blended - S&P SmallCap 600® Momentum Index 0.4200 0.1249 0.1523 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P SmallCap 600® Index 0.3886 0.0615 0.1087 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>2,753,437,654</td> </tr> <tr style="break-inside: avoid-page; 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;">116</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>5,803,800</td> </tr> <tr style="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;">121<span>%</span></td> </tr> </table>

2753437654

116 5803800

1.21

<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;">Viavi Solutions, 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;">4.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viasat, 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;">3.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Primoris Services 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;">3.09<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;">ESCO Technologies, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sanmina 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;">2.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FormFactor, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Powell Industries, 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;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Krystal Biotech, 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;">1.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Indivior Pharmaceuticals, 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;">1.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">StoneX 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;">1.77<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_10125801.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;">Viavi Solutions, 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;">4.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Viasat, 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;">3.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Primoris Services 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;">3.09<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;">ESCO Technologies, 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;">2.69<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sanmina 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;">2.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">FormFactor, 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;">2.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Powell Industries, 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;">2.06<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Krystal Biotech, 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;">1.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Indivior Pharmaceuticals, 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;">1.78<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">StoneX 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;">1.77<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> 0.0400 0.0347 0.0309 0.0269 0.0252 0.0224 0.0206 0.0191 0.0178 0.0177 Invesco S&P SmallCap Value with Momentum ETF Invesco S&P SmallCap Value with Momentum ETF XSVM This annual shareholder report contains important information about Invesco S&P SmallCap Value with Momentum ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap Value with Momentum ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.36<span>%</span></td> </tr> </table> 43 0.0036 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund outperformed the S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index due to its focus on value securities, which outperformed broader U.S. small-cap equities during the period. A large relative overweight allocation to the financials sector as well as strong security selection results within the consumer staples sector were notably supportive of the relative outperformance.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P SmallCap 600 High Momentum Value Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 39.44%, differed from the return of the Index, 39.92%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the consumer discretionary and information technology sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Victoria's Secret & Co., a consumer discretionary company (no longer held at fiscal year-end), and United Natural Foods, Inc., a consumer staples company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> No sector detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Kohl's Corp., a consumer discretionary company, and Select Medical Holdings Corp., a health care company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125832.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco S&P SmallCap Value with Momentum ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.44<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.84<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Blended - S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> High Momentum Value Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">39.92<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.40<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.24<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.65<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.91<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P SmallCap 600<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">38.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.15<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.87<span>%</span></td> </tr> </table> Invesco S&P SmallCap Value with Momentum ETF — NAV Return 0.3944 0.0798 0.1284 Blended - S&P SmallCap 600® High Momentum Value Index 0.3992 0.0840 0.1324 S&P Composite 1500® Index 0.3117 0.1265 0.1491 S&P SmallCap 600® Index 0.3886 0.0615 0.1087 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>613,139,649</td> </tr> <tr style="break-inside: avoid-page; 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;">120</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>1,676,807</td> </tr> <tr style="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;">84<span>%</span></td> </tr> </table>

613139649

120 1676807

0.84

<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;">StoneX 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Andersons, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Natural Foods, 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;">1.70<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MarineMax, 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;">1.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AdaptHealth 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;">1.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sonic Automotive, 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;">1.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vishay Intertechnology, 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;">1.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Deluxe 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;">1.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dana, 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;">1.27<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; 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_10125837.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;">StoneX 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Andersons, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">United Natural Foods, 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;">1.70<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MarineMax, 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;">1.59<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Par Pacific 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.52<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">AdaptHealth 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;">1.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Sonic Automotive, 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;">1.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Vishay Intertechnology, 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;">1.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Deluxe 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;">1.28<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Dana, 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;">1.27<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; 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> 0.0188 0.0183 0.0170 0.0159 0.0152 0.0140 0.0137 0.0137 0.0128 0.0127 Invesco S&P Spin-Off ETF Invesco S&P Spin-Off ETF CSD This annual shareholder report contains important information about Invesco S&P Spin-Off ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:initial;border-bottom-style:none;border-bottom-width:initial"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: left;">Invesco S&P Spin-Off ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; vertical-align: bottom; text-align: center;"><span style="float:none">$</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;">0.65<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;"> <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 0.0065 <div style="margin-top:14pt;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>How Did The Fund Perform During The Period?</b> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>• </b> During the fiscal year ended April 30, 2026, spin-off activity performed well, with increased scale and complexity. Security selection within the information technology sector and overweight allocation to the industrials sector created a tailwind to the Fund's performance relative to the Russell Midcap<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Index.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the S&P U.S. Spin-Off Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 74.01%, differed from the return of the Index, 75.15%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div><div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;"> <b>What contributed to performance?</b> <br/> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Sector Allocations</b> |<span style="white-space:nowrap"> </span> Information technology sector, followed by the industrials and utilities sectors, respectively.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Positions</b> | Sandisk Corp., an information technology company, and GE Vernova, Inc., an industrials company.</div><div style="margin-top:10pt;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;"> <b>What detracted from performance?</b> <br/> </div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Sector Allocations</b> |<span style="white-space:nowrap"> </span> Health care sector.</div><div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:14pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;"> <b>Positions |</b> Kyndryl Holdings, Inc., an information technology company (no longer held at fiscal year-end), and Organon & Co., a health care company (no longer held at fiscal year-end). </div> <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>How Has The Fund Historically Performed?</b> </div><div style="margin-top:0px;margin-right:0px;margin-bottom:3pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;letter-spacing:1.25px;text-transform:uppercase;font-weight:bold;">Growth of $10,000 Investment</div><div style="font-weight:400;font-family:'arial';font-size:9pt;color:rgb(0, 0, 0);margin-bottom:20pt;break-after:avoid;"> <img alt="Fund Performance - Growth of 10K" src="chartimages_10126840.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; padding-top: 6pt; padding-right: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: bold; width: 60%;"><br/> AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 1 Year</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 5 Years</td> <td style="break-inside: avoid-page; page-break-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; font-weight: bold;"><br/> 10 Years</td> </tr> <tr style="break-inside:avoid-page;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: 3pt; padding-bottom: 3pt; padding-left: 3pt; font-kerning: none; text-align: left; font-weight: normal;">Invesco S&P Spin-Off ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">74.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">15.17<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">13.39<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="break-inside: avoid-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; font-weight: normal;">Blended - S&P U.S. Spin-Off Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">75.15<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">15.87<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">14.06<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="break-inside: avoid-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; font-weight: normal;">Russell 3000<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">14.75<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; 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; font-weight: normal;">Russell Midcap<sup style="vertical-align:0.5em;font-size:66.6%">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">25.78<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">7.72<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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; white-space: nowrap;">11.58<span>%</span></td> </tr> </table> Invesco S&P Spin-Off ETF — NAV Return 0.7401 0.1517 0.1339 Blended - S&P U.S. Spin-Off Index 0.7515 0.1587 0.1406 Russell 3000® Index 0.3101 0.1191 0.1475 Russell Midcap® Index 0.2578 0.0772 0.1158 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line:underline;color:rgb(0, 0, 0);font-weight:400;font-family:'arial';font-size:9pt">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight:400;margin-top:0px;margin-right:0px;margin-bottom:7.5pt;margin-left:0px;font-kerning:none;font-family:'arial';color:rgb(0, 0, 0);font-size:9pt;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>149,305,722</td> </tr> <tr style="break-inside:avoid-page;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;">28</td> </tr> <tr style="break-inside:avoid-page;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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-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>415,153</td> </tr> <tr style="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;">117<span>%</span></td> </tr> </table>

149305722

28 415153

1.17

<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%;">Sandisk 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;">9.92<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%;">GE Vernova, 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;">8.18<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%;">Qnity Electronics, 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;">7.03<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Veralto 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;">6.12<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%;">GE HealthCare Technologies, 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;">5.70<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%;">Everus Construction 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;">4.87<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%;">Solstice Advanced Materials, 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;">4.49<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%;">Solventum 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;">4.38<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%;">Ralliant 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;">4.34<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%;">U-Haul Holding Co., Series N</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.34<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_10126845.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%;">Sandisk 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;">9.92<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%;">GE Vernova, 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;">8.18<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%;">Qnity Electronics, 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;">7.03<span>%</span></td> </tr> <tr style="break-inside:avoid-page;page-break-inside:avoid;height:auto;border-bottom-color:rgb(0, 0, 0);border-bottom-style:solid;border-bottom-width:0.5pt"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; padding-top: 6pt; padding-right: 8pt; padding-bottom: 3pt; padding-left: 12pt; font-kerning: none; text-align: left; width: 82%;">Veralto 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;">6.12<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%;">GE HealthCare Technologies, 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;">5.70<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%;">Everus Construction 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;">4.87<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%;">Solstice Advanced Materials, 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;">4.49<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%;">Solventum 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;">4.38<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%;">Ralliant 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;">4.34<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%;">U-Haul Holding Co., Series N</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; padding-top: 6pt; padding-right: 12pt; padding-bottom: 3pt; padding-left: 8pt; font-kerning: none; white-space: nowrap;">4.34<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> 0.0992 0.0818 0.0703 0.0612 0.0570 0.0487 0.0449 0.0438 0.0434 0.0434 Invesco Semiconductors ETF Invesco Semiconductors ETF PSI This annual shareholder report contains important information about Invesco Semiconductors ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Semiconductors ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>107</td> <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;">0.55<span>%</span></td> </tr> </table> 107 0.0055 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. During the period, semiconductors outperformed the broader stock market. In addition to the Fund's focus on semiconductor stocks, its multi-factor methodology created a performance tailwind compared to the S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Semiconductor Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Dynamic Semiconductor Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 189.32%, differed from the return of the Index, 190.97%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance and partially offset by income received from the securities lending program in which the Fund participates.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Semiconductors sub-industry, followed by the semiconductor materials & equipment and electronic equipment & instruments sub-industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Micron Technology, Inc., a semiconductors company, and Lam Research Corp., a semiconductor materials & equipment company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sub-Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Automotive parts & equipment sub-industry.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Mobileye Global, Inc., an automotive parts & equipment company (no longer held at fiscal year-end), and Ichor Holdings, Ltd., a semiconductor materials & equipment company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10125400.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Semiconductors ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">189.32<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">27.42<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">32.79<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Dynamic Semiconductor Intellidex<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">190.97<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">28.12<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">33.59<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">NASDAQ<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Composite Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">43.57<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">19.01<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P Composite 1500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Semiconductor Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">111.33<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">42.22<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">36.75<span>%</span></td> </tr> </table> Invesco Semiconductors ETF — NAV Return 1.8932 0.2742 0.3279 Dynamic Semiconductor Intellidex® Index 1.9097 0.2812 0.3359 NASDAQ® Composite Index 0.4357 0.1309 0.1901 S&P Composite 1500® Semiconductor Index 1.1133 0.4222 0.3675 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>1,995,081,050</td> </tr> <tr style="break-inside: avoid-page; 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;">33</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>4,875,138</td> </tr> <tr style="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;">105<span>%</span></td> </tr> </table>

1995081050

33 4875138

1.05

<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;">MaxLinear, 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;">8.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Advanced Micro 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;">6.27<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;">Texas Instruments, 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;">4.98<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; 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;">4.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Micron Technology, 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;">4.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">KLA 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;">4.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lam Research 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;">3.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Applied Materials, 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;">3.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tower Semiconductor 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;">3.62<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>Sub-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_10125405.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;">MaxLinear, 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;">8.00<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Advanced Micro 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;">6.27<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;">Texas Instruments, 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;">4.98<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; 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;">4.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Micron Technology, 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;">4.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">KLA 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;">4.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Lam Research 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;">3.99<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Applied Materials, 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;">3.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">3.91<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Tower Semiconductor 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;">3.62<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> 0.0800 0.0627 0.0498 0.0485 0.0468 0.0440 0.0399 0.0395 0.0391 0.0362 Invesco Water Resources ETF Invesco Water Resources ETF PHO This annual shareholder report contains important information about Invesco Water Resources ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Water Resources ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</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); font-kerning: none; white-space: nowrap; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;">0.59<span>%</span></td> </tr> </table> 61 0.0059 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, water equities lagged broader U.S. equity markets. The Fund's security selection within the information technology and industrials sectors contributed to its underperformance relative to the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Nasdaq OMX US Water<sup style="vertical-align: 0.5em; font-size: 66.6%;">TM</sup> Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 5.64%, differed from the return of the Index, 6.30%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Machinery industry, followed by the trading companies & distributors and building products industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Ferguson Enterprises, Inc., a trading companies & distributors company, and Mueller Industries, Inc., a machinery company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Software industry, followed by the electronic equipment instruments & components and water utilities industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Roper Technologies, Inc., a software company, and Badger Meter, Inc., an electronic equipment instruments & components company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126876.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Water Resources ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">5.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.19<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.11<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Nasdaq OMX US Water™ Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.30<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">6.92<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">12.83<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco Water Resources ETF — NAV Return 0.0564 0.0619 0.1211 Nasdaq OMX US Water™ Index 0.0630 0.0692 0.1283 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>2,085,783,142</td> </tr> <tr style="break-inside: avoid-page; 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: 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>10,760,833</td> </tr> <tr style="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;">34<span>%</span></td> </tr> </table>

2085783142

39 10760833

0.34

<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;">Ferguson Enterprises, 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;">8.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roper Technologies, 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;">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;">Waters 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;">8.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ecolab, 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;">7.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">American Water Works Co., 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;">6.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">IDEX 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mueller Industries, 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;">4.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Core & Main, 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;">3.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Xylem, 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;">3.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Veralto 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;">3.83<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>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_10126881.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;">Ferguson Enterprises, 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;">8.68<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roper Technologies, 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;">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;">Waters 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;">8.18<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Ecolab, 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;">7.14<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">American Water Works Co., 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;">6.95<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">IDEX 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;">4.39<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Mueller Industries, 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;">4.37<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Core & Main, 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;">3.93<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Xylem, 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;">3.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Veralto 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;">3.83<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> 0.0868 0.0857 0.0818 0.0714 0.0695 0.0439 0.0437 0.0393 0.0385 0.0383 Invesco WilderHill Clean Energy ETF Invesco WilderHill Clean Energy ETF PBW This annual shareholder report contains important information about Invesco WilderHill Clean Energy ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco WilderHill Clean Energy ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>109</td> <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;">0.63<span>%</span></td> </tr> </table> 109 0.0063 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, clean energy stocks significantly outperformed the Russell 2000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index due primarily to geopolitical volatility. The Fund's overweight allocation to and security selection in the industrials sector also contributed to its outperformance relative to the Russell 2000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the WilderHill Clean Energy Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 147.28%, differed from the return of the Index, 147.51%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> Electrical equipment industry, followed by the semiconductors & semiconductor equipment and metals & mining industries, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Navitas Semiconductor Corp., a semiconductors & semiconductor equipment company, and Bloom Energy Corp., Class A, an electrical equipment company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Industry Allocations</b> |<span style="white-space: nowrap;"> </span> No industries detracted from the Fund's performance during the period.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Wolfspeed, Inc., a semiconductors & semiconductor equipment company (no longer held at fiscal year-end), and Enphase Energy, Inc., a semiconductors & semiconductor equipment company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126912.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco WilderHill Clean Energy ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">147.28<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-13.35<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.47<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">WilderHill Clean Energy Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">147.51<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">-14.81<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 2000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Growth Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">42.64<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">4.00<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.19<span>%</span></td> </tr> </table> Invesco WilderHill Clean Energy ETF — NAV Return 1.4728 -0.1335 0.0847 WilderHill Clean Energy Index 1.4751 -0.1481 0.0708 Russell 3000® Index 0.3101 0.1191 0.1475 Russell 2000® Growth Index 0.4264 0.0400 0.1119 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>450,374,069</td> </tr> <tr style="break-inside: avoid-page; 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;">71</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>2,411,842</td> </tr> <tr style="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;">65<span>%</span></td> </tr> </table>

450374069

71 2411842

0.65

<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;">Sigma Lithium 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Bloom Energy Corp., 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;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">FuelCell Energy, 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;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Navitas 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">American Superconductor 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;">2.09<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;">Lifezone Metals 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;">2.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lithium Argentina AG</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Powell Industries, 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MYR 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;">1.83<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>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_10126917.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;">Sigma Lithium 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;">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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Bloom Energy Corp., 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;">2.43<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">FuelCell Energy, 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;">2.41<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Navitas 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">2.23<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">American Superconductor 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;">2.09<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;">Lifezone Metals 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;">2.05<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Lithium Argentina AG</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">2.01<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.87<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Powell Industries, 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">MYR 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;">1.83<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> 0.0265 0.0243 0.0241 0.0223 0.0209 0.0205 0.0201 0.0187 0.0185 0.0183 Invesco Zacks Mid-Cap ETF Invesco Zacks Mid-Cap ETF CZA This annual shareholder report contains important information about Invesco Zacks Mid-Cap ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Zacks Mid-Cap ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>75</td> <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;">0.69<span>%</span></td> </tr> </table> 75 0.0069 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, U.S. equities experienced positive returns for the majority of the year, although geopolitical conflict towards the end of the year sparked bouts of increased volatility. The Fund underperformed the Russell Midcap<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to poor security selection within the information technology and energy sectors.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Zacks Mid-Cap Core Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index, as well as American depositary receipts (“ADRs”) that represent securities in the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 17.89%, differed from the return of the Index, 18.79%, primarily due to fees and expenses incurred by the Fund during the period, which was compounded during a period of strong performance.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Financials sector, followed by the information technology and industrials sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Keysight Technologies, Inc., an information technology company (no longer held at fiscal year-end), and State Street Corp., a financials company.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Real estate sector, followed by the health care sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Centene Corp., a health care company, and Brown & Brown, Inc., a financials company (no longer held at fiscal year-end).</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126948.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Zacks Mid-Cap ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">17.89<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.09<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">10.40<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Zacks Mid-Cap Core Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">18.79<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.19<span>%</span></td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell 3000<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.01<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">14.75<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Russell Midcap<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">25.78<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.72<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">11.58<span>%</span></td> </tr> </table> Invesco Zacks Mid-Cap ETF — NAV Return 0.1789 0.0709 0.1040 Zacks Mid-Cap Core Index 0.1879 0.0786 0.1119 Russell 3000® Index 0.3101 0.1191 0.1475 Russell Midcap® Index 0.2578 0.0772 0.1158 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>186,045,010</td> </tr> <tr style="break-inside: avoid-page; 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;">104</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>921,969</td> </tr> <tr style="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;">140<span>%</span></td> </tr> </table>

186045010

104 921969

1.40

<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;">State Street 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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">American International 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Public Service Enterprise 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hartford Insurance Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Las Vegas Sands 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roper Technologies, 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PG&E 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;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Trip.com Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sysco 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;">1.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Viking 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;">1.74<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_10126953.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;">State Street 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;">2.08<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">American International 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Public Service Enterprise 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;">2.02<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Hartford Insurance Group, Inc. (The)</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Las Vegas Sands 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;">1.86<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Roper Technologies, 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;">1.85<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">PG&E 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;">1.83<span>%</span></td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-bottom-width: 0.5pt;"> <td style="font-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;">Trip.com Group 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; font-kerning: none; white-space: nowrap; padding: 6pt 12pt 3pt 8pt;">1.81<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Sysco 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;">1.77<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; font-kerning: none; text-align: left; width: 82%; padding: 6pt 8pt 3pt 12pt;">Viking 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;">1.74<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> 0.0208 0.0202 0.0202 0.0186 0.0186 0.0185 0.0183 0.0181 0.0177 0.0174 Invesco Zacks Multi-Asset Income ETF Invesco Zacks Multi-Asset Income ETF CVY This annual shareholder report contains important information about Invesco Zacks Multi-Asset Income ETF (the “Fund”) for the period May 1, 2025 to April 30, 2026. 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) 983-0903. invesco.com/reports (800) 983-0903 <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>Year</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</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 $10,000 investment</td> </tr> <tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: left; padding: 6pt 3pt 3pt 3pt;">Invesco Zacks Multi-Asset Income ETF</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); font-kerning: none; vertical-align: bottom; text-align: center; padding: 6pt 3pt 3pt 3pt;"><span style="float: none;">$</span>81</td> <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;">0.73<span>%</span></td> </tr> </table> 81 0.0073 <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 71, 255); font-size: 14pt; font-weight: bold; margin: 14pt 0px 3pt 0px;"><b>How Did The Fund Perform During The Period?</b></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> During the fiscal year ended April 30, 2026, high dividend paying and preferred equities, as well as closed-end funds, underperformed the broader market. The Fund underperformed the S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index primarily due to a significant underweight allocation to the information technology sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>• </b> The Fund is passively managed and seeks to track the investment results (before fees and expenses) of the Zacks Multi-Asset Income Index (the “Index”). The Fund generally will invest at least 90% of its total assets in securities that comprise the Index, as well as American depositary receipts (“ADRs”) that represent securities in the Index.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">• For the fiscal year ended April 30, 2026, the Fund's performance, on a net asset value ("NAV") basis, 22.86%, differed from the return of the Index, 23.91%, primarily due to fees and expenses incurred by the Fund during the period.</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What contributed to performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Energy sector, followed by financials and consumer discretionary sectors, respectively.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Positions</b> | Peabody Energy Corp., an energy company (no longer held at fiscal year-end), and Signet Jewelers Ltd., a consumer discretionary company (no longer held at fiscal year-end).</div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 10pt 0px 3pt 0px;"><b>What detracted from performance?</b> <br/></div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;"><b>Sector Allocations</b> |<span style="white-space: nowrap;"> </span> Consumer staples sector.</div> <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 14pt 0px;"><b>Positions |</b> Concentrix Corp., an industrials company, and Graphic Packaging Holding Co., a materials company.</div> <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>How Has The Fund Historically Performed?</b></div> <div style="font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; letter-spacing: 1.25px; text-transform: uppercase; font-weight: bold; margin: 0px 0px 3pt 0px;">Growth of $10,000 Investment</div> <div style="font-weight: 400; font-family: 'arial'; font-size: 9pt; color: rgb(0, 0, 0); margin-bottom: 20pt; break-after: avoid;"><img alt="Fund Performance - Growth of 10K" src="chartimages_10126984.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 539pt;"/> </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); vertical-align: middle; font-kerning: none; text-align: left; font-weight: bold; width: 60%; padding: 6pt 3pt 3pt 3pt;"><br/>AVERAGE ANNUAL TOTAL RETURNS</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>1 Year</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>5 Years</td> <td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; font-weight: bold; padding: 6pt 3pt 3pt 3pt;"><br/>10 Years</td> </tr> <tr style="break-inside: avoid-page; 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; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Invesco Zacks Multi-Asset Income ETF — NAV Return</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">22.86<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">7.98<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.51<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="break-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; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">Zacks Multi-Asset Income Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">23.91<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">8.47<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">9.09<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; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); vertical-align: middle; font-kerning: none; text-align: left; font-weight: normal; padding: 6pt 3pt 3pt 3pt;">S&P 500<sup style="vertical-align: 0.5em; font-size: 66.6%;">®</sup> Index</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">31.05<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">13.14<span>%</span></td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); text-align: right; vertical-align: middle; font-kerning: none; white-space: nowrap; padding: 6pt 3pt 3pt 3pt;">15.26<span>%</span></td> </tr> </table> Invesco Zacks Multi-Asset Income ETF — NAV Return 0.2286 0.0798 0.0851 Zacks Multi-Asset Income Index 0.2391 0.0847 0.0909 S&P 500® Index 0.3105 0.1314 0.1526 The performance data quoted represents past performance and cannot guarantee future results; current performance may be lower or higher. Please visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); font-weight: 400; font-family: 'arial'; font-size: 9pt;">invesco.com/ETFs</span> for more recent performance information. <div style="font-weight: 400; font-kerning: none; font-family: 'arial'; color: rgb(0, 0, 0); font-size: 9pt; margin: 0px 0px 7.5pt 0px;">Performance figures do not reflect deduction of taxes a shareholder would pay on Fund distributions or sale of Fund shares.</div> <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>120,285,479</td> </tr> <tr style="break-inside: avoid-page; 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;">152</td> </tr> <tr style="break-inside: avoid-page; 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 advisory fees paid</td> <td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-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>572,035</td> </tr> <tr style="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;">159<span>%</span></td> </tr> </table>

120285479

152 572035

1.59