Schedule of Investments
Invesco International Developed Dynamic Multifactor ETF (IMFL)
May 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.51%
Australia-7.95%
AGL Energy Ltd.
 
18,514
$114,061
ALS Ltd.
 
14,780
250,602
Ansell Ltd.
 
4,605
92,058
ANZ Group Holdings Ltd.
 
6,022
152,632
APA Group
 
17,778
128,774
Aristocrat Leisure Ltd.
 
50,232
1,806,741
ASX Ltd.
 
6,891
229,133
Atlas Arteria Ltd.
 
16,183
57,357
Aurizon Holdings Ltd.
 
155,888
469,626
BHP Group Ltd.
 
216,824
9,662,726
BlueScope Steel Ltd.
 
18,879
431,296
Brambles Ltd.
 
192,785
2,299,096
Charter Hall Group
 
11,103
162,667
Cleanaway Waste Management Ltd.
 
80,423
132,560
Cochlear Ltd.(a)
 
3,198
230,587
Coles Group Ltd.
 
132,771
2,071,109
Commonwealth Bank of Australia
 
5,190
615,736
Computershare Ltd.
 
147,325
3,654,396
CSL Ltd.
 
22,980
1,597,654
Downer EDI Ltd.
 
40,266
235,150
Endeavour Group Ltd.(a)
 
89,537
185,583
Evolution Mining Ltd.
 
4,767
42,038
Fortescue Ltd.
 
81,498
1,310,294
Glencore PLC(b)
 
64,885
493,935
Goodman Group
 
65,183
1,482,800
GPT Group (The)
 
347,237
1,210,520
Harvey Norman Holdings Ltd.
 
30,746
101,883
Insurance Australia Group Ltd.
 
716,927
3,944,593
James Hardie Industries PLC(b)
 
2,455
55,683
JB Hi-Fi Ltd.
 
15,064
806,088
Lottery Corp. Ltd. (The)
 
78,932
306,936
Macquarie Group Ltd.
 
2,065
354,474
Medibank Pvt. Ltd.
 
1,185,902
4,088,558
National Australia Bank Ltd.
 
14,984
402,600
Northern Star Resources Ltd.
 
4,849
66,164
Orica Ltd.
 
19,843
326,515
Origin Energy Ltd.
 
73,675
575,526
Qantas Airways Ltd.
 
49,808
337,380
QBE Insurance Group Ltd.
 
376,580
6,126,020
Qube Holdings Ltd.(a)
 
39,735
143,125
Ramsay Health Care Ltd.(a)
 
3,393
90,425
REA Group Ltd.
 
2,310
247,368
Region Group
 
118,217
193,032
Rio Tinto Ltd.(a)
 
36,035
4,824,514
Rio Tinto PLC
 
67,125
7,136,068
Santos Ltd.
 
132,870
746,406
Scentre Group
 
602,721
1,657,586
SEEK Ltd.
 
5,585
49,932
SGH Ltd.
 
3,643
107,695
Sonic Healthcare Ltd.
 
17,674
247,727
South32 Ltd.
 
116,536
404,699
Steadfast Group Ltd.
 
269,902
789,594
Stockland
 
192,421
566,110
Suncorp Group Ltd.
 
72,344
903,132
Technology One Ltd.
 
7,741
166,933
Telstra Group Ltd.
 
294,881
1,105,221
TPG Telecom Ltd.
 
73,758
206,755
Transurban Group
 
49,181
529,505
Treasury Wine Estates Ltd.(a)
 
34,285
104,368
Vicinity Ltd.
 
646,204
1,174,264
Washington H Soul Pattinson & Co. Ltd.(a)
 
4,480
140,158
 
Shares
Value
Australia-(continued)
Wesfarmers Ltd.
 
92,672
$5,308,766
Westpac Banking Corp.
 
12,405
321,073
Woodside Energy Group Ltd.
 
132,647
2,904,740
Woolworths Group Ltd.
 
140,405
3,553,528
Worley Ltd.
 
15,792
147,004
 
 
80,381,279
Austria-0.15%
ANDRITZ AG
 
6,196
563,800
OMV AG
 
938
67,530
Strabag SE, BR
 
2,238
247,951
Telekom Austria AG
 
12,757
146,056
Verbund AG
 
8,051
540,726
 
 
1,566,063
Belgium-0.71%
Ackermans & van Haaren N.V.
 
251
79,479
Anheuser-Busch InBev S.A./N.V.
 
29,926
2,397,237
D’Ieteren Group
 
2,495
497,961
Elia Group S.A./N.V.
 
462
71,850
Financiere de Tubize S.A.(a)
 
409
107,219
Lotus Bakeries N.V.(a)
 
13
166,685
Sofina S.A.(a)
 
6,913
1,794,705
UCB S.A.
 
6,651
1,953,833
Warehouses De Pauw C.V.A.
 
3,411
88,381
 
 
7,157,350
Brazil-0.13%
Yara International ASA
 
23,312
1,267,119
Canada-3.60%
Agnico Eagle Mines Ltd.
 
3,897
717,078
Alamos Gold, Inc., Class A
 
1,358
55,757
Alimentation Couche-Tard, Inc.
 
66,467
3,758,204
AltaGas Ltd.
 
3,023
117,734
AtkinsRealis Group, Inc.
 
2,565
154,099
Barrick Mining Corp.
 
34,184
1,461,608
BCE, Inc.
 
20,779
524,622
Brookfield Asset Management Ltd.(a)
 
21,113
1,021,970
Canadian Imperial Bank of Commerce
 
514
56,152
Canadian National Railway Co.
 
30,747
3,643,750
Canadian Natural Resources Ltd.
 
14,659
667,213
Canadian Pacific Kansas City Ltd.
 
21,855
1,952,997
Canadian Tire Corp. Ltd., Class A
 
1,657
212,786
CGI, Inc., Class A
 
1,083
75,693
Dollarama, Inc.
 
1,736
222,175
Emera, Inc.(a)
 
12,456
651,938
Enbridge, Inc.
 
19,022
1,044,480
Fairfax Financial Holdings Ltd.
 
1,225
1,908,085
Fortis, Inc.
 
19,253
1,065,830
Franco-Nevada Corp.
 
442
102,470
George Weston Ltd.
 
10,301
722,203
Hydro One Ltd.(c)
 
8,771
361,015
IGM Financial, Inc.
 
7,005
399,487
Imperial Oil Ltd.(a)
 
2,832
336,271
Intact Financial Corp.
 
26,648
5,239,841
Kinross Gold Corp.
 
2,635
80,109
Loblaw Cos. Ltd.
 
19,417
869,258
Magna International, Inc.
 
13,478
874,204
Metro, Inc.
 
19,089
1,225,947
Pembina Pipeline Corp.
 
5,149
240,378
Quebecor, Inc., Class B
 
3,230
156,863
RB Global, Inc.(a)
 
1,420
151,190
Restaurant Brands International, Inc.
 
4,882
365,561
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Canada-(continued)
Royal Bank of Canada
 
486
$93,294
Saputo, Inc.
 
10,548
323,435
Stantec, Inc.
 
2,689
203,341
Suncor Energy, Inc.(a)
 
32,333
2,022,529
TC Energy Corp.
 
2,832
188,848
TELUS Corp.
 
24,081
302,597
Thomson Reuters Corp.(a)
 
3,230
280,291
Toromont Industries Ltd.
 
9,083
1,499,316
Toronto-Dominion Bank (The)
 
1,249
143,029
Tourmaline Oil Corp.
 
2,614
119,585
Wheaton Precious Metals Corp.
 
672
90,423
WSP Global, Inc.
 
5,173
733,244
 
 
36,436,900
Chile-0.01%
Antofagasta PLC
 
1,310
72,232
China-0.14%
BOC Aviation Ltd.(c)
 
12,385
120,739
BOC Hong Kong (Holdings) Ltd.
 
56,631
346,012
Budweiser Brewing Co. APAC Ltd.(c)
 
65,800
58,634
Chow Tai Fook Jewellery Group Ltd.(a)
 
41,177
57,709
Lenovo Group Ltd.(a)
 
73,933
226,558
Shenzhou International Group Holdings
Ltd.
 
16,960
100,346
SITC International Holdings Co. Ltd.
 
29,509
130,561
Wilmar International Ltd.
 
28,143
79,232
Xinyi Glass Holdings Ltd.(a)
 
42,205
53,238
YANGZIJIANG MARITIME DEVELOP
 
413,034
200,609
 
 
1,373,638
Denmark-1.30%
Carlsberg A/S, Class B
 
1,551
208,599
Coloplast A/S, Class B
 
4,817
295,871
Danske Bank A/S
 
1,012
53,261
DSV A/S
 
940
235,275
Genmab A/S(b)
 
399
104,644
H. Lundbeck A/S
 
26,349
178,068
Novo Nordisk A/S
 
211,801
9,683,495
Novonesis (Novozymes) B, Class B
 
8,277
481,137
Pandora A/S
 
4,982
466,510
Rockwool A/S
 
2,745
85,992
Tryg A/S
 
50,226
1,181,193
Vestas Wind Systems A/S
 
6,258
175,681
 
 
13,149,726
Finland-1.56%
Elisa OYJ
 
10,117
486,020
Kesko OYJ, Class B
 
7,322
177,495
Kone OYJ, Class B(a)
 
34,997
2,092,782
Metso OYJ(a)
 
9,030
172,331
Nokia OYJ
 
52,187
766,874
Nordea Bank Abp
 
4,566
87,525
Orion OYJ, Class B
 
5,501
459,698
Sampo OYJ
 
969,575
10,238,265
UBS AG(a)
 
17,399
508,566
Valmet OYJ(a)
 
4,333
117,467
Wartsila OYJ Abp
 
15,603
633,525
 
 
15,740,548
France-8.24%
Accor S.A.(a)
 
2,710
147,678
Aeroports de Paris S.A.(a)
 
407
54,559
Air Liquide S.A.
 
36,329
7,508,525
 
Shares
Value
France-(continued)
Airbus SE
 
9,930
$2,074,634
Amundi S.A.(c)
 
2,092
204,054
AXA S.A.
 
5,892
271,828
bioMerieux
 
3,426
296,440
Bollore SE(a)
 
133,008
843,150
Bouygues S.A.
 
14,919
873,365
Bureau Veritas S.A.(a)
 
37,710
1,141,166
Capgemini SE
 
551
65,492
Carrefour S.A.(a)
 
18,356
343,113
Cie de Saint-Gobain S.A.
 
12,577
1,140,278
Cie Generale des Etablissements Michelin
S.C.A.
 
42,253
1,543,014
Danone S.A.
 
38,713
2,753,795
Dassault Aviation S.A.
 
956
339,803
Dassault Systemes SE(a)
 
9,990
219,279
Edenred SE(a)
 
3,144
85,330
Eiffage S.A.
 
3,653
528,939
ENGIE S.A.
 
26,286
811,281
EssilorLuxottica S.A.
 
6,385
1,291,144
FDJ United(a)
 
10,868
287,926
Getlink SE(a)
 
3,825
83,617
Hermes International S.C.A.
 
1,204
2,251,013
Ipsen S.A.
 
3,185
582,076
Klepierre S.A.
 
21,794
889,478
Legrand S.A.
 
7,404
1,273,199
L’Oreal S.A.
 
15,940
7,036,810
LVMH Moet Hennessy Louis Vuitton SE
 
7,115
3,893,375
Orange S.A.
 
90,239
1,888,296
Pernod Ricard S.A.(a)
 
5,950
438,529
Publicis Groupe S.A.
 
20,737
2,018,435
Rexel S.A.
 
3,480
148,678
Safran S.A.
 
33,097
11,776,588
Schneider Electric SE
 
23,798
7,478,085
Sodexo S.A.(a)
 
1,869
102,598
SPIE S.A.
 
2,935
166,977
Thales S.A.
 
2,388
670,300
TotalEnergies SE
 
148,016
12,993,479
Veolia Environnement S.A.
 
31,302
1,263,500
Vinci S.A.
 
38,454
5,595,327
 
 
83,375,153
Germany-5.02%
adidas AG
 
687
132,761
Allianz SE
 
697
309,026
BASF SE
 
16,862
998,918
Bayer AG
 
1,348
57,353
Bayerische Motoren Werke AG
 
1,236
107,595
Beiersdorf AG(a)
 
13,036
1,048,552
Continental AG
 
2,195
181,511
CTS Eventim AG & Co. KGaA
 
3,321
239,848
Daimler Truck Holding AG
 
2,036
99,671
Deutsche Post AG
 
43,199
2,574,035
Deutsche Telekom AG
 
332,009
11,152,498
DWS Group GmbH & Co. KGaA(c)
 
4,356
313,508
E.ON SE
 
83,781
1,779,388
Evonik Industries AG
 
14,260
279,396
Fresenius Medical Care AG(a)
 
11,408
494,622
Fresenius SE & Co. KGaA
 
3,495
147,650
FUCHS SE
 
4,177
157,900
FUCHS SE, Preference Shares
 
7,049
322,684
GEA Group AG
 
22,639
1,460,061
Hannover Rueck SE
 
3,127
844,815
Heidelberg Materials AG
 
2,839
628,440
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Germany-(continued)
Henkel AG & Co. KGaA
 
8,114
$588,776
Henkel AG & Co. KGaA, Preference Shares
 
12,724
988,097
HOCHTIEF AG
 
1,226
693,463
Knorr-Bremse AG
 
921
111,313
Mercedes-Benz Group AG
 
10,782
654,971
Merck KGaA
 
2,389
364,003
MTU Aero Engines AG
 
5,894
2,151,362
Muenchener Rueckversicherungs-
Gesellschaft AG in Muenchen, Class R
 
1,785
937,873
Rational AG
 
78
59,710
RWE AG
 
85,620
5,443,816
SAP SE
 
67,610
12,236,050
Scout24 SE(c)
 
3,883
326,736
Siemens AG
 
6,834
2,143,747
Siemens Energy AG, Class A
 
377
71,405
Siemens Healthineers AG(c)
 
6,758
274,677
Symrise AG
 
3,730
343,014
Volkswagen AG, Preference Shares
 
842
89,884
 
 
50,809,129
Greece-0.01%
Metlen Energy & Metals PLC(a)(b)
 
1,510
73,009
Hong Kong-1.70%
AIA Group Ltd.
 
347,270
3,642,553
Cathay Pacific Airways Ltd.
 
270,501
458,903
CK Asset Holdings Ltd.
 
68,299
412,338
CK Hutchison Holdings Ltd.
 
235,359
2,117,594
CK Infrastructure Holdings Ltd.
 
24,580
186,038
CLP Holdings Ltd.
 
166,280
1,622,524
DFI Retail Group Holdings Ltd.
 
85,390
341,599
Hong Kong & China Gas Co. Ltd. (The)(a)
 
420,080
384,043
Hong Kong Exchanges & Clearing Ltd.
 
22,002
1,123,350
Jardine Matheson Holdings Ltd.
 
17,116
1,137,339
MTR Corp. Ltd.(a)
 
96,520
388,346
Power Assets Holdings Ltd.(a)
 
175,664
1,346,956
Prudential PLC
 
3,522
50,156
Sino Land Co. Ltd.
 
45,088
67,941
Sun Hung Kai Properties Ltd.
 
29,268
491,517
Swire Pacific Ltd., Class A
 
6,572
68,386
Techtronic Industries Co. Ltd.
 
55,700
826,847
VTech Holdings Ltd.(a)
 
33,543
219,238
WH Group Ltd.
 
1,810,172
2,088,871
Yue Yuen Industrial Holdings Ltd.(a)
 
50,020
93,749
Zijin Gold International Co. Ltd.(b)
 
5,300
87,990
 
 
17,156,278
Indonesia-0.00%
First Pacific Co. Ltd.
 
77,891
50,826
Ireland-0.19%
AIB Group PLC
 
8,928
105,114
Experian PLC
 
19,061
658,859
Kerry Group PLC, Class A
 
9,124
782,103
Kingspan Group PLC
 
3,964
362,520
 
 
1,908,596
Israel-0.71%
Amot Investments Ltd.
 
10,126
68,120
Azrieli Group Ltd.(a)
 
350
58,162
Bank Hapoalim B.M.
 
17,657
455,322
Bank Leumi le-Israel B.M.
 
25,175
640,600
Bezeq The Israeli Telecommunication Corp.
Ltd.
 
309,794
883,643
Big Shopping Centers Ltd.
 
702
191,041
 
Shares
Value
Israel-(continued)
Elbit Systems Ltd.
 
895
$819,797
Enlight Renewable Energy Ltd.(b)
 
964
103,875
First International Bank of Israel Ltd. (The)
 
572
48,775
ICL Group Ltd.
 
63,893
422,280
Israel Corp. Ltd.
 
207
68,442
Israel Discount Bank Ltd., Class A
 
14,635
162,957
Meitav Investment House Ltd.
 
1,207
73,596
Melisron Ltd.
 
2,702
425,813
Mivne Real Estate KD Ltd.
 
11,777
60,219
Mizrahi Tefahot Bank Ltd.
 
2,427
187,030
Nice Ltd.(b)
 
3,365
305,578
Phoenix Finance Ltd.
 
1,395
92,664
Shufersal Ltd.
 
32,006
555,959
Strauss Group Ltd.
 
7,365
317,776
Teva Pharmaceutical Industries Ltd.(b)
 
16,565
593,377
Tower Semiconductor Ltd.(b)
 
2,090
596,361
 
 
7,131,387
Italy-1.28%
Assicurazioni Generali S.p.A.(a)
 
2,066
93,087
Coca-Cola HBC AG(b)
 
12,209
701,014
Davide Campari-Milano N.V.(a)
 
17,984
117,374
Enel S.p.A.
 
216,056
2,425,550
Eni S.p.A.
 
45,340
1,186,793
Ferrari N.V.
 
4,046
1,390,907
FinecoBank Banca Fineco S.p.A.
 
2,721
66,422
Infrastrutture Wireless Italiane S.p.A.(a)(c)
 
8,091
63,040
Interpump Group S.p.A.(a)
 
1,828
76,403
Intesa Sanpaolo S.p.A.
 
30,635
207,131
Italgas S.p.A.(a)
 
29,533
346,629
Leonardo S.p.A.
 
2,906
184,633
Moncler S.p.A.(a)
 
12,048
781,357
Pirelli & C. S.p.A.(c)
 
14,943
109,894
Prysmian S.p.A.
 
15,169
2,614,353
Recordati Industria Chimica e Farmaceutica
S.p.A.
 
1,800
108,147
Reply S.p.A.(a)
 
1,066
127,989
Ryanair Holdings PLC
 
47,143
1,376,753
Snam S.p.A.
 
12,635
92,387
Telecom Italia S.p.A., Rts., expiring
04/01/2026(b)
 
3,181,593
76
Terna S.p.A.(a)
 
60,879
699,779
UniCredit S.p.A.
 
1,721
148,608
 
 
12,918,326
Ivory Coast-0.01%
Endeavour Mining PLC
 
968
59,555
Japan-14.23%
ABC-MART, Inc.
 
13,499
223,289
AEON Co. Ltd.
 
3,560
31,174
AGC, Inc.(a)
 
8,779
382,550
Air Water, Inc.
 
10,316
168,163
Aisin Corp.
 
27,880
422,773
Ajinomoto Co., Inc.
 
12,509
404,369
Alfresa Holdings Corp.
 
6,265
87,898
Alps Alpine Co. Ltd.
 
6,123
83,561
ALSOK Co. Ltd.
 
48,241
341,448
Amada Co. Ltd.
 
36,851
695,735
Amano Corp.
 
12,325
276,618
ANA Holdings, Inc.(a)
 
2,435
45,627
Asahi Group Holdings Ltd.(a)
 
9,956
95,051
Asahi Intecc Co. Ltd.
 
2,765
65,323
Asahi Kasei Corp.
 
72,094
809,066
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Japan-(continued)
Astellas Pharma, Inc.
 
17,995
$256,439
Azbil Corp.
 
64,483
673,257
Bandai Namco Holdings, Inc.
 
35,080
800,661
BIPROGY, Inc.
 
8,480
244,123
Blue Zones Holdings Co. Ltd.
 
12,433
135,199
Bridgestone Corp.(a)
 
162,422
3,497,575
Brother Industries Ltd.
 
18,019
424,147
Calbee, Inc.
 
8,147
148,436
Canon Marketing Japan, Inc.(a)
 
11,167
249,484
Canon, Inc.
 
20,647
549,354
Capcom Co. Ltd.
 
7,669
145,267
Central Japan Railway Co.
 
5,984
130,947
Chubu Electric Power Co., Inc.
 
33,849
621,767
Chugai Pharmaceutical Co. Ltd.
 
24,241
1,199,439
COMSYS Holdings Corp.
 
19,028
648,696
Cosmo Energy Holdings Co. Ltd.
 
2,740
64,353
Cosmos Pharmaceutical Corp.
 
1,424
53,723
CyberAgent, Inc.
 
10,630
86,322
Dai Nippon Printing Co. Ltd.
 
94,342
1,641,173
Daicel Corp.
 
22,082
184,736
Daido Steel Co. Ltd.
 
3,911
51,117
Daifuku Co. Ltd.
 
4,399
201,187
Daiichi Sankyo Co. Ltd.
 
3,165
53,294
Daikin Industries Ltd.
 
10,171
1,464,965
Daito Trust Construction Co. Ltd.
 
97,810
1,943,812
Daiwa House Industry Co. Ltd.
 
3,371
91,715
Denso Corp.
 
295,389
3,516,022
East Japan Railway Co.
 
19,440
414,253
Electric Power Development Co. Ltd.
 
7,845
197,876
ENEOS Holdings, Inc.
 
156,443
1,282,439
Ezaki Glico Co. Ltd.
 
4,143
141,450
FANUC Corp.
 
25,511
1,253,989
Fast Retailing Co. Ltd.
 
1,739
901,638
Fuji Electric Co. Ltd.
 
4,093
397,407
FUJIFILM Holdings Corp.
 
20,057
417,170
Fujitsu Ltd.
 
34,624
737,842
GLP J-Reit
 
61
51,217
Goldwin, Inc.
 
4,404
58,329
Hakuhodo DY Holdings, Inc.(a)
 
9,194
64,577
Hankyu Hanshin Holdings, Inc.
 
2,683
78,894
Hirose Electric Co. Ltd.
 
1,652
292,389
Hitachi Ltd.
 
109,773
3,554,975
Honda Motor Co. Ltd.
 
13,545
121,772
Horiba Ltd.
 
1,481
243,902
Hoshizaki Corp.(a)
 
9,721
321,335
House Foods Group, Inc.
 
9,886
212,053
Hoya Corp.
 
14,346
2,437,488
Hulic Co. Ltd.
 
12,497
133,355
Idemitsu Kosan Co. Ltd.
 
99,536
874,336
Inpex Corp.
 
35,651
802,044
Internet Initiative Japan, Inc.
 
4,804
93,535
Invincible Investment Corp.
 
210
80,819
Isetan Mitsukoshi Holdings Ltd.
 
4,088
87,176
Isuzu Motors Ltd.
 
14,366
211,159
ITOCHU Corp.
 
205,746
2,488,583
Iwatani Corp.
 
11,779
149,127
Japan Airlines Co. Ltd.
 
5,583
95,558
Japan Airport Terminal Co. Ltd.
 
2,382
72,248
Japan Hotel REIT Investment Corp.
 
217
104,403
Japan Real Estate Investment Corp.
 
71
50,957
Japan Tobacco, Inc.
 
9,313
358,923
JFE Holdings, Inc.(a)
 
4,938
52,827
 
Shares
Value
Japan-(continued)
JGC Holdings Corp.
 
5,628
$96,079
Kajima Corp.
 
2,280
84,244
Kamigumi Co. Ltd.
 
15,832
471,364
Kandenko Co. Ltd.
 
6,964
284,732
Kaneka Corp.
 
1,919
66,480
Kansai Electric Power Co., Inc. (The)(a)
 
40,637
595,805
Kansai Paint Co. Ltd.(a)
 
4,833
74,385
Kao Corp.(a)
 
33,314
1,276,433
KDDI Corp.
 
123,525
2,124,451
Kewpie Corp.(a)
 
9,258
233,936
Keyence Corp.
 
5,117
2,572,683
Kikkoman Corp.
 
43,657
381,145
Kinden Corp.
 
12,453
560,364
Kintetsu Group Holdings Co. Ltd.
 
3,347
75,378
Kirin Holdings Co. Ltd.
 
8,226
140,064
Kobayashi Pharmaceutical Co. Ltd.
 
1,539
56,565
Kobe Bussan Co. Ltd.
 
5,795
98,610
Koei Tecmo Holdings Co. Ltd.
 
8,895
82,782
Koito Manufacturing Co. Ltd.
 
25,284
443,940
Kokuyo Co. Ltd.
 
67,681
349,687
Komatsu Ltd.
 
38,201
1,560,776
Konami Group Corp.
 
1,679
199,537
K’s Holdings Corp.
 
23,127
304,814
Kubota Corp.
 
8,301
147,557
Kuraray Co. Ltd.
 
9,090
93,574
Kurita Water Industries Ltd.
 
6,381
350,552
Kyocera Corp.
 
13,653
298,664
Kyowa Kirin Co. Ltd.
 
5,238
82,351
Kyushu Electric Power Co., Inc.
 
26,402
271,697
Kyushu Railway Co.
 
2,254
49,835
Lion Corp.
 
9,312
94,642
Lixil Corp.(a)
 
7,183
76,016
Mabuchi Motor Co. Ltd.
 
31,177
303,632
Makita Corp.
 
6,839
237,472
Marubeni Corp.
 
32,810
1,073,012
Maruichi Steel Tube Ltd.(a)
 
46,288
524,824
MatsukiyoCocokara & Co.
 
32,186
459,634
McDonald’s Holdings Co. (Japan) Ltd.(a)
 
6,195
302,894
Medipal Holdings Corp.
 
31,844
549,439
MEIJI Holdings Co. Ltd.
 
31,001
732,273
MISUMI Group, Inc.
 
10,981
259,491
Mitsubishi Chemical Group Corp.
 
95,874
689,264
Mitsubishi Corp.
 
217,256
6,872,960
Mitsubishi Electric Corp.
 
102,606
4,173,215
Mitsubishi Estate Co. Ltd.
 
2,513
63,528
Mitsubishi Gas Chemical Co., Inc.
 
3,286
114,174
Mitsubishi Heavy Industries Ltd.
 
11,727
277,342
Mitsubishi Logistics Corp.
 
31,234
294,445
Mitsubishi Materials Corp.
 
3,841
124,476
Mitsui & Co. Ltd.
 
127,577
4,242,112
Mitsui Chemicals, Inc.
 
17,477
239,035
Mitsui Fudosan Co. Ltd.
 
10,865
104,053
Mitsui Fudosan Logistics Park, Inc.
 
792
536,761
Mitsui OSK Lines Ltd.(a)
 
1,385
47,627
MS&AD Insurance Group Holdings, Inc.
 
18,418
493,115
Murata Manufacturing Co. Ltd.
 
55,258
3,482,049
Nagase & Co. Ltd.
 
26,265
185,457
NEC Corp.
 
7,685
199,288
Nexon Co. Ltd.
 
2,925
41,138
NGK Corp.
 
12,102
479,547
NH Foods Ltd.
 
3,988
152,623
NHK Spring Co. Ltd.
 
8,320
187,290
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Japan-(continued)
Nichias Corp.
 
26,886
$595,681
Nichirei Corp.
 
5,703
65,351
Nidec Corp.(b)
 
7,438
130,496
Nifco, Inc.
 
7,836
222,411
Nintendo Co. Ltd.
 
8,995
402,706
Nippon Electric Glass Co. Ltd.
 
1,379
56,542
Nippon Express Holdings, Inc., Class H
 
4,540
149,874
Nippon Kayaku Co. Ltd.
 
23,583
315,474
Nippon Sanso Holdings Corp.
 
3,808
147,635
Nippon Shokubai Co. Ltd.
 
34,704
449,330
Nippon Steel Corp.(a)
 
154,880
551,376
Nippon Television Holdings, Inc.
 
2,352
41,935
Nippon Yusen K.K.(a)
 
13,076
435,902
Nissan Chemical Corp.
 
15,045
708,821
Nisshin Seifun Group, Inc.
 
14,510
178,931
Nissin Foods Holdings Co. Ltd.(a)
 
4,282
71,818
Niterra Co. Ltd.
 
15,239
972,189
Nitto Denko Corp.
 
90,807
1,702,509
NOF Corp.
 
24,532
429,577
NOK Corp.
 
12,592
228,011
Nomura Research Institute Ltd.
 
2,552
81,790
NS Solutions Corp.
 
5,217
114,164
NTT, Inc.
 
1,538,431
1,444,079
Obayashi Corp.
 
38,277
777,212
OBIC Co. Ltd.
 
13,499
340,284
Oji Holdings Corp.
 
22,422
110,126
Olympus Corp.
 
36,649
410,799
Ono Pharmaceutical Co. Ltd.
 
11,857
178,000
Open House Group Co. Ltd.
 
8,613
467,263
Oracle Corp.(b)
 
2,452
133,049
Oriental Land Co. Ltd.
 
26,798
385,554
ORIX Corp.
 
10,930
426,461
Osaka Gas Co. Ltd.
 
17,766
597,301
Otsuka Corp.(a)
 
38,888
707,156
Otsuka Holdings Co. Ltd.
 
45,355
3,333,802
PALTAC Corp.
 
4,721
196,507
Pan Pacific International Holdings Corp.
 
13,369
73,485
Panasonic Holdings Corp.
 
25,219
582,934
Persol Holdings Co. Ltd.
 
203,051
309,078
Pola Orbis Holdings, Inc.
 
9,208
74,499
Recruit Holdings Co. Ltd.
 
28,419
1,901,293
Relo Group, Inc.
 
12,603
145,742
Resorttrust, Inc.
 
19,101
203,674
Rinnai Corp.
 
14,085
299,946
Ryohin Keikaku Co. Ltd.
 
5,309
129,728
Sankyo Co. Ltd.
 
31,751
321,768
Sankyu, Inc.
 
3,856
217,378
Santen Pharmaceutical Co. Ltd.
 
65,206
783,649
Sanwa Holdings Corp.
 
23,733
541,485
Sawai Group Holdings Co. Ltd.
 
12,142
133,317
Secom Co. Ltd.
 
55,748
2,223,419
Seibu Holdings, Inc.
 
13,597
241,048
Seiko Epson Corp.
 
7,786
143,276
Seino Holdings Co. Ltd.
 
10,794
184,613
Sekisui Chemical Co. Ltd.
 
72,639
1,045,090
Sekisui House Ltd.
 
4,894
102,800
Sekisui House Reit, Inc.
 
97
49,958
SG Holdings Co. Ltd.
 
25,737
234,075
Shikoku Electric Power Co., Inc.
 
10,694
97,922
Shimadzu Corp.
 
24,724
586,015
SHIMAMURA Co. Ltd.
 
14,202
293,698
Shimano, Inc.
 
1,126
116,594
 
Shares
Value
Japan-(continued)
Shimizu Corp.
 
7,101
$119,345
Shin-Etsu Chemical Co. Ltd.
 
123,493
5,997,508
Shionogi & Co. Ltd.
 
60,050
1,129,943
SHO-BOND Holdings Co. Ltd.
 
26,898
214,825
SKY Perfect JSAT Holdings Corp.(a)
 
6,165
172,824
Skylark Holdings Co. Ltd.(a)
 
7,445
131,408
SMC Corp.
 
2,065
898,546
SoftBank Corp.
 
1,033,256
1,396,654
Sojitz Corp.
 
1,440
48,771
Sompo Holdings, Inc.
 
1,408
52,053
Sony Group Corp.
 
79,019
1,705,258
Square Enix Holdings Co. Ltd.
 
3,991
64,131
Stanley Electric Co. Ltd.
 
13,815
308,158
Subaru Corp.
 
18,054
274,123
Sumitomo Bakelite Co. Ltd.
 
5,885
254,570
Sumitomo Chemical Co. Ltd.
 
148,288
566,458
Sumitomo Corp.
 
23,476
1,035,718
Sumitomo Electric Industries Ltd.
 
6,213
479,439
Sumitomo Realty & Development Co. Ltd.
 
1,794
41,862
Sundrug Co. Ltd.
 
8,045
183,216
Suntory Beverage & Food Ltd.
 
6,321
170,823
Suzuki Motor Corp.
 
46,625
577,679
Sysmex Corp.
 
11,860
103,756
Taisei Corp.
 
2,751
241,192
Taiyo Holdings Co. Ltd.
 
1,437
44,754
Takeda Pharmaceutical Co. Ltd.
 
17,622
562,779
TBS Holdings, Inc.
 
2,291
83,562
TDK Corp.
 
32,866
851,707
Teijin Ltd.
 
24,978
258,652
Terumo Corp.
 
85,062
1,279,673
TIS, Inc.
 
5,317
113,366
Tobu Railway Co. Ltd.
 
3,621
63,275
Toho Co. Ltd.
 
28,024
216,175
Toho Gas Co. Ltd.
 
37,268
287,463
Tohoku Electric Power Co., Inc.
 
12,412
78,452
Tokio Marine Holdings, Inc.
 
50,615
2,248,687
Tokyo Electron Ltd.
 
1,565
525,108
Tokyo Gas Co. Ltd.
 
9,951
398,022
Tokyo Ohka Kogyo Co. Ltd.
 
2,687
185,767
Tomy Co. Ltd.
 
8,082
160,245
TOPPAN Holdings, Inc.
 
11,442
328,033
Toray Industries, Inc.
 
104,117
778,723
Tosoh Corp.
 
33,855
583,914
TOTO Ltd.
 
8,168
393,036
Toyo Seikan Group Holdings Ltd.
 
5,521
134,988
Toyo Suisan Kaisha Ltd.
 
9,809
688,224
Toyo Tire Corp.
 
10,718
254,995
Toyoda Gosei Co. Ltd.
 
3,912
118,568
Toyota Boshoku Corp.
 
6,308
90,616
Toyota Motor Corp.
 
49,539
937,606
Toyota Tsusho Corp.
 
18,361
800,349
Trend Micro, Inc.
 
1,939
73,521
Tsuruha Holdings, Inc.
 
16,789
207,828
UBE Corp.(a)
 
4,160
77,036
Unicharm Corp.
 
49,605
295,320
USS Co. Ltd.
 
39,974
442,236
West Japan Railway Co.
 
8,908
146,996
Yakult Honsha Co. Ltd.(a)
 
10,734
180,373
Yamaha Corp.
 
31,871
231,298
Yamato Kogyo Co. Ltd.
 
2,095
155,189
Yamazaki Baking Co. Ltd.
 
2,252
44,199
Yokogawa Electric Corp.
 
17,871
561,212
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Japan-(continued)
Zenkoku Hosho Co. Ltd.
 
39,068
$728,700
Zeon Corp.
 
23,156
318,020
ZOZO, Inc.
 
19,429
121,192
 
 
143,901,931
Luxembourg-0.07%
ArcelorMittal S.A.
 
4,285
295,129
CVC Capital Partners PLC(a)(c)
 
3,566
57,027
Eurofins Scientific SE
 
3,946
287,192
RTL Group S.A.(a)
 
2,147
78,893
 
 
718,241
Macau-0.03%
Galaxy Entertainment Group Ltd.
 
79,256
315,654
Netherlands-2.95%
Akzo Nobel N.V.
 
4,054
307,825
argenx SE(b)
 
241
201,555
ASML Holding N.V.
 
5,071
8,203,347
CTP N.V.(c)
 
12,043
228,392
EXOR N.V.(a)
 
56,651
4,413,871
HAL Trust
 
3,101
619,248
Heineken Holding N.V.(a)
 
11,250
811,639
Heineken N.V.
 
18,709
1,461,766
ING Groep N.V.
 
2,899
89,840
Koninklijke Ahold Delhaize N.V.
 
228,875
9,648,696
Koninklijke KPN N.V.
 
185,739
967,981
Koninklijke Philips N.V.
 
5,626
149,441
Magnum Ice Cream Co. N.V. (The)(b)
 
5,712
92,647
Prosus N.V.(b)
 
2,646
120,396
Randstad N.V.(a)
 
7,311
224,252
Universal Music Group N.V.(a)
 
5,568
125,038
Wolters Kluwer N.V.
 
30,751
2,187,328
 
 
29,853,262
New Zealand-0.11%
Contact Energy Ltd.
 
61,713
352,357
Fisher & Paykel Healthcare Corp. Ltd.
 
19,815
442,010
Mainfreight Ltd.
 
4,345
168,934
Spark New Zealand Ltd.
 
87,337
102,538
 
 
1,065,839
Norway-0.79%
Aker ASA, Class A
 
7,914
1,068,208
Aker BP ASA
 
5,873
211,542
DNB Bank ASA
 
3,092
96,273
Equinor ASA
 
83,027
3,005,051
Gjensidige Forsikring ASA
 
6,581
181,761
Kongsberg Gruppen ASA
 
3,580
128,396
Kongsberg Maritime AS(b)
 
3,580
22,608
Mowi ASA
 
4,718
104,080
Norsk Hydro ASA
 
41,436
507,370
Orkla ASA
 
169,159
1,784,929
Telenor ASA
 
46,208
755,635
Var Energi ASA
 
17,053
84,059
 
 
7,949,912
Poland-0.35%
Allegro.eu S.A.(a)(b)(c)
 
9,012
86,404
Bank Polska Kasa Opieki S.A.
 
1,335
89,240
Dino Polska S.A.(b)(c)
 
22,136
188,357
KGHM Polska Miedz S.A.(b)
 
1,541
148,530
ORLEN S.A.
 
71,704
2,806,391
Powszechna Kasa Oszczednosci Bank Polski
S.A.
 
4,180
118,802
 
Shares
Value
Poland-(continued)
Powszechny Zaklad Ubezpieczen S.A.
 
3,112
$55,340
Santander Bank Polska S.A.
 
340
57,688
 
 
3,550,752
Portugal-0.15%
EDP S.A.
 
109,125
555,998
Galp Energia SGPS S.A.
 
22,793
496,952
Jeronimo Martins SGPS S.A.
 
23,264
492,764
 
 
1,545,714
Singapore-0.81%
CapitaLand Ascendas REIT
 
181,397
355,748
CapitaLand Ascott Trust
 
95,592
67,111
CapitaLand Integrated Commercial Trust
 
140,114
249,572
ComfortDelGro Corp. Ltd.
 
301,126
304,363
DBS Group Holdings Ltd.
 
17,210
848,326
Genting Singapore Ltd.(a)
 
454,923
213,968
Jardine Cycle & Carriage Ltd.
 
2,733
63,397
Keppel DC REIT
 
149,220
270,240
Keppel Ltd.
 
17,869
150,796
Keppel REIT
 
266,524
180,775
Mapletree Industrial Trust(a)
 
77,550
117,961
Mapletree Pan Asia Commercial Trust(a)
 
62,745
62,973
NetLink NBN Trust(c)
 
65,497
51,091
Oversea-Chinese Banking Corp. Ltd.
 
29,121
534,877
Singapore Airlines Ltd.(a)
 
67,165
357,056
Singapore Exchange Ltd.
 
154,568
2,651,732
Singapore Technologies Engineering Ltd.
 
77,061
688,140
Singapore Telecommunications Ltd.
 
134,724
458,754
United Overseas Bank Ltd.
 
6,011
177,221
Venture Corp. Ltd.
 
30,087
424,637
 
 
8,228,738
South Korea-14.94%
Amorepacific Corp.
 
763
58,212
BGF retail Co. Ltd.
 
2,866
235,293
Celltrion, Inc.(b)
 
2,122
271,378
Cheil Worldwide, Inc.
 
21,342
261,173
CJ Corp.
 
946
101,643
DB Insurance Co. Ltd.
 
6,469
613,647
Dongsuh Cos., Inc.
 
3,113
50,648
GS Holdings Corp.
 
3,510
168,960
GS Retail Co. Ltd.
 
14,156
239,103
Hana Financial Group, Inc.
 
3,979
304,478
Hankook Tire & Technology Co. Ltd.
 
10,265
454,950
HD Hyundai Co. Ltd.
 
4,122
759,324
HD Hyundai Electric Co. Ltd.
 
113
79,138
HD Hyundai Heavy Industries Co. Ltd.
 
636
293,890
HD Korea Shipbuilding & Offshore
Engineering Co. Ltd.
 
7,309
2,052,431
HMM Co. Ltd.
 
10,624
137,828
Hyundai Engineering & Construction Co.
Ltd.
 
566
55,284
Hyundai Glovis Co. Ltd.
 
6,750
1,087,422
Hyundai Mobis Co. Ltd.
 
9,936
5,059,793
Hyundai Motor Co.
 
1,117
534,427
Hyundai Motor Co., First Pfd.
 
550
99,898
Hyundai Motor Co., Second Pfd.
 
786
141,579
Hyundai Rotem Co. Ltd.
 
388
51,645
Industrial Bank of Korea
 
3,694
49,599
Kangwon Land, Inc.
 
40,398
402,397
KB Financial Group, Inc.
 
4,693
470,176
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
South Korea-(continued)
KEPCO Plant Service & Engineering Co.
Ltd.
 
7,224
$244,747
Kia Corp.
 
76,649
8,598,499
Korea Electric Power Corp.
 
14,632
380,102
Korea Investment Holdings Co. Ltd.
 
788
124,697
Korean Air Lines Co. Ltd.
 
4,134
73,323
Krafton, Inc.(b)
 
1,787
305,303
KT&G Corp.
 
13,417
1,638,830
Kumho Petrochemical Co. Ltd.
 
678
59,692
LG Corp.
 
14,174
1,379,848
LG Display Co. Ltd.(b)
 
19,510
208,827
LG Electronics, Inc.
 
2,196
428,164
LG H&H Co. Ltd.
 
600
98,521
LG Uplus Corp.
 
37,787
404,664
Meritz Financial Group, Inc.(b)
 
671
45,810
NAVER Corp.
 
3,925
608,329
NongShim Co. Ltd.
 
479
122,117
Orion Corp.
 
1,548
132,962
POSCO Holdings, Inc.
 
608
171,260
S-1 Corp.
 
7,693
348,954
Samsung Biologics Co. Ltd.(b)(c)
 
718
649,694
Samsung C&T Corp.
 
472
136,117
Samsung E&A Co. Ltd.
 
41,692
1,459,104
Samsung Electro-Mechanics Co. Ltd.
 
768
1,085,635
Samsung Electronics Co. Ltd.
 
308,583
64,738,754
Samsung Electronics Co. Ltd., Preference
Shares
 
52,621
7,040,351
Samsung Episholdings Co. Ltd.(b)
 
189
60,660
Samsung Fire & Marine Insurance Co. Ltd.
 
2,192
827,213
Samsung Fire & Marine Insurance Co. Ltd.,
Preference Shares
 
263
63,866
Samsung Heavy Industries Co. Ltd.(b)
 
8,716
161,820
Samsung Life Insurance Co. Ltd.
 
686
177,236
Samsung SDS Co. Ltd.
 
4,470
889,480
Samsung Securities Co. Ltd.
 
3,029
241,936
Shinhan Financial Group Co. Ltd.
 
5,783
359,716
SK hynix, Inc.
 
27,669
43,080,854
SK Square Co. Ltd.(b)
 
197
163,356
SK Telecom Co. Ltd.
 
1,912
128,045
SK, Inc.
 
545
245,332
Woori Financial Group, Inc.
 
10,542
208,487
 
 
151,126,621
Spain-2.90%
Acciona S.A.(a)
 
700
200,902
ACS Actividades de Construccion y
Servicios S.A.
 
18,739
2,717,366
Aena S.M.E. S.A.(c)
 
52,026
1,510,306
Amadeus IT Group S.A.
 
23,169
1,478,694
Banco Bilbao Vizcaya Argentaria S.A.
 
12,181
284,642
Banco Santander S.A.
 
17,583
219,994
CaixaBank S.A.
 
4,884
65,973
Cellnex Telecom S.A.(c)
 
1,787
59,826
Endesa S.A.(a)
 
31,682
1,325,218
Iberdrola S.A.
 
504,314
11,454,263
Industria de Diseno Textil S.A.
 
119,761
7,384,270
Mapfre S.A.(a)
 
12,988
60,761
Merlin Properties SOCIMI S.A.
 
33,513
589,024
Naturgy Energy Group S.A.
 
31,761
1,052,537
Redeia Corp. S.A.
 
7,333
125,861
 
Shares
Value
Spain-(continued)
Repsol S.A.
 
25,748
$665,135
Telefonica S.A.(a)
 
33,135
151,661
 
 
29,346,433
Sweden-4.32%
AAK AB(a)
 
8,123
217,913
Alfa Laval AB(a)
 
4,281
240,134
Assa Abloy AB, Class B
 
36,178
1,299,081
Atlas Copco AB
 
107,122
2,048,280
Atlas Copco AB
 
71,255
1,206,152
Axfood AB(a)
 
7,723
220,541
Boliden AB
 
1,770
110,212
Epiroc AB
 
12,338
315,000
Epiroc AB, Class A(a)
 
17,765
525,541
Essity AB, Class B
 
41,829
1,173,154
Evolution AB(b)(c)
 
1,448
108,686
H & M Hennes & Mauritz AB, Class B(a)
 
7,056
125,191
Hexagon AB, Class B
 
22,434
205,817
Holmen AB
 
5,035
167,290
Industrivarden AB, Class A
 
46,945
2,662,392
Industrivarden AB, Class C(a)
 
82,824
4,528,758
Indutrade AB
 
2,317
48,430
Investor AB
 
119,635
4,847,823
Investor AB, Class B(a)
 
436,724
17,945,331
L E Lundbergforetagen AB, Class B(a)
 
6,616
389,200
Lifco AB, Class B(a)
 
2,102
67,511
Sandvik AB
 
34,278
1,394,072
Securitas AB, Class B
 
3,397
56,691
Skanska AB, Class B
 
10,350
280,014
SKF AB, Class B
 
6,278
164,666
Swedish Orphan Biovitrum AB, Class B(b)
 
1,542
73,774
Tele2 AB, Class B
 
17,296
324,694
Telefonaktiebolaget LM Ericsson, Class B
 
98,487
1,284,270
Telia Co. AB
 
58,194
311,919
Trelleborg AB, Class B
 
8,770
382,073
Volvo AB, Class A
 
2,877
101,028
Volvo AB, Class B
 
23,915
841,944
 
 
43,667,582
Switzerland-8.54%
ABB Ltd.
 
120,769
12,900,295
Barry Callebaut AG(a)
 
188
289,552
Belimo Holding AG
 
234
246,740
BKW AG
 
1,308
247,239
Chocoladefabriken Lindt & Spruengli AG
 
75
892,665
Chocoladefabriken Lindt & Spruengli AG
 
9
1,098,724
Cie Financiere Richemont S.A.
 
1,476
316,601
EMS-Chemie Holding AG(a)
 
144
131,255
Flughafen Zureich AG
 
995
301,363
Geberit AG
 
3,139
2,054,541
Givaudan S.A.
 
267
989,577
Kuehne + Nagel International AG,
Class R(a)
 
2,369
545,478
Logitech International S.A., Class R
 
4,140
502,598
Lonza Group AG(b)
 
397
253,309
Nestle S.A.
 
250,930
25,434,303
Partners Group Holding AG
 
2,269
2,391,504
PSP Swiss Property AG
 
1,264
240,518
Roche Holding AG(b)
 
63,963
26,884,905
Roche Holding AG, BR
 
2,626
1,128,250
Sandoz Group AG
 
4,259
357,766
Schindler Holding AG
 
2,417
790,278
Schindler Holding AG, PC
 
4,839
1,627,352
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Switzerland-(continued)
SGS S.A.
 
10,343
$1,174,332
Sika AG(b)
 
4,535
884,250
Sonova Holding AG, Class A
 
1,526
402,406
Straumann Holding AG(a)
 
1,544
186,395
Swatch Group AG (The)(a)
 
1,303
70,825
Swatch Group AG (The), BR(a)
 
804
222,348
Swiss Prime Site AG(b)
 
440
73,681
Swisscom AG
 
3,020
2,582,299
VAT Group AG(c)
 
171
133,378
Zurich Insurance Group AG
 
1,382
980,407
 
 
86,335,134
Thailand-0.01%
Thai Beverage PCL
 
413,684
145,916
United Kingdom-11.28%
3i Group PLC
 
390,326
11,865,147
Admiral Group PLC
 
76,051
3,368,276
Associated British Foods PLC(a)
 
22,286
545,874
AstraZeneca PLC
 
55,208
10,259,697
Auto Trader Group PLC(c)
 
73,861
436,957
BAE Systems PLC
 
145,703
3,967,787
Beazley PLC
 
42,615
733,748
Berkeley Group Holdings PLC (The)(b)
 
2,614
120,580
British American Tobacco PLC
 
102,968
6,377,230
British Land Co. PLC (The)
 
18,821
102,682
BT Group PLC
 
83,021
233,030
Bunzl PLC
 
16,888
534,431
Centrica PLC
 
283,741
716,464
Coca-Cola Europacific Partners PLC
 
7,823
709,604
Compass Group PLC
 
65,301
2,094,222
Convatec Group PLC(c)
 
43,642
118,489
Croda International PLC
 
2,010
82,184
Diageo PLC
 
71,756
1,472,261
Diploma PLC
 
4,492
421,637
GSK PLC
 
209,068
5,291,540
Haleon PLC
 
205,480
928,486
Halma PLC
 
11,913
749,523
Hiscox Ltd.
 
42,769
1,003,830
Howden Joinery Group PLC
 
32,028
330,516
HSBC Holdings PLC
 
3,638
68,379
ICG PLC
 
9,726
243,262
IMI PLC
 
12,483
466,748
Imperial Brands PLC
 
97,737
3,547,401
Informa PLC
 
8,728
94,913
International Consolidated Airlines Group
S.A.
 
15,998
92,220
Intertek Group PLC
 
11,013
783,462
J Sainsbury PLC
 
152,228
605,405
Kingfisher PLC
 
80,342
310,502
Land Securities Group PLC
 
11,069
93,538
Lloyds Banking Group PLC
 
44,936
61,522
Marks & Spencer Group PLC
 
40,923
195,610
National Grid PLC(a)
 
34,126
548,250
NatWest Group PLC
 
6,043
48,647
Next PLC
 
12,986
2,305,367
Pearson PLC
 
37,711
561,073
Persimmon PLC
 
11,831
177,022
Reckitt Benckiser Group PLC
 
40,775
2,511,680
RELX PLC
 
87,378
2,854,147
Rightmove PLC
 
49,057
276,149
Rolls-Royce Holdings PLC
 
30,564
550,413
Sage Group PLC (The)
 
37,956
429,769
 
Shares
Value
United Kingdom-(continued)
Segro PLC
 
6,451
$62,593
Severn Trent PLC
 
2,771
110,593
Shell PLC
 
573,820
24,269,523
Smith & Nephew PLC
 
42,299
631,072
Smiths Group PLC
 
27,392
905,179
Spirax Group PLC
 
794
74,007
SSE PLC
 
19,819
620,380
Taylor Wimpey PLC
 
219,777
235,281
Tesco PLC
 
1,656,504
9,610,912
Unilever PLC
 
121,272
6,840,217
United Utilities Group PLC
 
12,748
230,620
Vodafone Group PLC
 
737,448
1,109,212
Whitbread PLC
 
2,395
75,277
 
 
114,064,540
United States-5.32%
A.P. Moller - Maersk A/S, Class A
 
215
523,775
A.P. Moller - Maersk A/S, Class B(a)
 
185
459,596
Alcon AG
 
15,301
1,017,047
Amrize Ltd.(b)
 
8,774
468,086
BP PLC
 
256,254
1,811,725
Buzzi S.p.A.(a)
 
5,080
274,540
Ferrovial N.V.
 
6,265
428,720
GFL Environmental, Inc.
 
18,105
607,990
Holcim AG(b)
 
33,687
3,312,386
InterContinental Hotels Group PLC
 
6,061
929,462
Novartis AG
 
182,542
27,428,059
Qiagen N.V.
 
13,853
511,061
Sanofi S.A.
 
142,998
12,541,004
Sims Ltd.
 
9,424
182,165
Sunbelt Rentals Holdings, Inc.
 
5,127
402,204
Swiss Re AG
 
3,331
498,594
Tenaris S.A.
 
30,618
933,126
Waste Connections, Inc.
 
10,135
1,513,684
 
 
53,843,224
Total Common Stocks & Other Equity Interests
(Cost $894,441,681)
1,006,286,607
Money Market Funds-0.02%
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $208,348)
 
208,348
208,348
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.53%
(Cost $894,650,029)
1,006,494,955
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-4.36%
Invesco Private Government Fund,
3.58%(d)(e)(f)
 
12,332,924
12,332,924
See accompanying notes which are an integral part of this schedule.

Invesco International Developed Dynamic Multifactor ETF (IMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Money Market Funds-(continued)
Invesco Private Prime Fund, 3.75%(d)(e)(f)
 
31,771,708
$31,778,062
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $44,109,518)
44,110,986
TOTAL INVESTMENTS IN SECURITIES-103.89%
(Cost $938,759,547)
1,050,605,941
OTHER ASSETS LESS LIABILITIES-(3.89)%
(39,331,901
)
NET ASSETS-100.00%
$1,011,274,040
Investment Abbreviations:
BR-Bearer Shares
PC-Participation Certificate
Pfd.-Preferred
REIT-Real Estate Investment Trust
Rts.-Rights
Notes to Schedule of Investments:
(a)
All or a portion of this security was out on loan at May 31, 2026.
(b)
Non-income producing security.
(c)
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be
resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at
May 31, 2026 was $5,460,904, which represented less than 1% of the Fund’s Net Assets.
(d)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended May 31, 2026.
 
Value
August 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
May 31, 2026
Dividend Income
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$204,216
$116,538,362
$(116,534,230
)
$-
$-
$208,348
$33,055
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
1,765,964
83,659,605
(73,092,645
)
-
-
12,332,924
291,554
*
Invesco Private Prime Fund
4,677,276
196,458,948
(169,351,202
)
1,277
(8,237
)
31,778,062
793,624
*
Total
$6,647,456
$396,656,915
$(358,978,077
)
$1,277
$(8,237
)
$44,319,334
$1,118,233
*
Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from
borrowers, if any.
(e)
The rate shown is the 7-day SEC standardized yield as of May 31, 2026.
(f)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)
May 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.95%
Communication Services-11.14%
Alphabet, Inc., Class A, (Acquired
07/05/2024 - 05/20/2026;
Cost $142,546,422)(b)
 
546,614
$207,899,169
Alphabet, Inc., Class C, (Acquired
07/05/2024 - 05/20/2026;
Cost $116,282,996)(b)
 
445,081
167,541,841
AT&T, Inc.
 
163,372
4,051,625
Comcast Corp., Class A
 
101,483
2,523,882
Electronic Arts, Inc.
 
136,063
27,446,628
Fox Corp., Class A(c)
 
71,990
4,601,601
Fox Corp., Class B
 
53,422
3,065,888
Liberty Global Ltd., Class A (Belgium)(c)(d)
 
41,929
524,532
Liberty Global Ltd., Class C (Belgium)(d)
 
32,804
398,897
Meta Platforms, Inc., Class A
 
137,911
87,230,087
Netflix, Inc.(d)
 
63,567
5,468,033
New York Times Co. (The), Class A
 
45,943
3,455,373
News Corp., Class A
 
28,106
733,567
News Corp., Class B(c)
 
8,768
261,462
Omnicom Group, Inc.
 
4,053
294,694
Pinterest, Inc., Class A(d)
 
86,535
1,735,027
Roku, Inc., Class A(c)(d)
 
2,416
314,515
Spotify Technology S.A. (Sweden)(d)
 
1,266
630,063
T-Mobile US, Inc.
 
12,323
2,310,932
Verizon Communications, Inc.
 
76,045
3,635,711
Versant Media Group, Inc.
 
4,021
173,466
Walt Disney Co. (The)
 
38,391
3,909,355
 
 
528,206,348
Consumer Discretionary-9.52%
Airbnb, Inc., Class A(d)
 
121,065
16,139,175
Amazon.com, Inc.(d)
 
289,288
78,292,904
Aptiv PLC(c)(d)
 
39,764
2,701,566
AutoZone, Inc.(d)
 
86
252,426
Best Buy Co., Inc.
 
68,173
5,314,085
Booking Holdings, Inc.
 
322,309
53,964,196
BorgWarner, Inc.
 
18,133
1,302,312
Boyd Gaming Corp.
 
4,601
380,411
Cava Group, Inc.(c)(d)
 
4,633
359,799
Chewy, Inc., Class A(d)
 
51,416
1,158,917
Chipotle Mexican Grill, Inc.(d)
 
322,475
10,274,053
Columbia Sportswear Co.(c)
 
18,155
1,201,498
Coupang, Inc. (South Korea)(d)
 
209,174
3,472,288
Crocs, Inc.(c)(d)
 
10,786
1,279,975
D.R. Horton, Inc.
 
22,048
3,243,040
Darden Restaurants, Inc.(c)
 
5,348
1,090,511
Deckers Outdoor Corp.(d)
 
67,186
7,649,126
Dick’s Sporting Goods, Inc.(c)
 
6,960
1,583,887
Dillard’s, Inc., Class A
 
469
276,808
Domino’s Pizza, Inc.(c)
 
6,061
1,882,425
DoorDash, Inc., Class A(d)
 
6,562
1,045,261
eBay, Inc.
 
152,580
16,672,417
Etsy, Inc.(c)(d)
 
13,037
885,473
Expedia Group, Inc.
 
5,765
1,301,679
Five Below, Inc.(d)
 
10,444
2,374,548
Floor & Decor Holdings, Inc., Class A(c)(d)
 
11,270
579,278
Gap, Inc. (The)(c)
 
27,560
582,894
Garmin Ltd.
 
75,143
17,577,451
General Motors Co.
 
9,620
800,769
Gentex Corp.(c)
 
132,658
3,205,017
Grand Canyon Education, Inc.(d)
 
32,526
4,874,021
H&R Block, Inc.
 
53,006
2,040,201
Hilton Worldwide Holdings, Inc.
 
7,055
2,311,641
 
Shares
Value
Consumer Discretionary-(continued)
Las Vegas Sands Corp.
 
4,884
$246,984
Lear Corp.
 
5,816
832,386
Lennar Corp., Class A
 
13,680
1,228,190
LKQ Corp.
 
7,547
204,675
Lowe’s Cos., Inc.
 
6,786
1,454,647
lululemon athletica, Inc.(d)
 
37,584
4,930,269
Marriott International, Inc., Class A
 
5,598
2,102,609
Mattel, Inc.(c)(d)
 
11,744
175,455
McDonald’s Corp.
 
8,469
2,364,545
Mohawk Industries, Inc.(c)(d)
 
3,883
417,112
NIKE, Inc., Class B
 
16,885
780,594
NVR, Inc.(d)
 
3,757
22,935,734
Ollie’s Bargain Outlet Holdings, Inc.(d)
 
5,084
415,007
On Holding AG, Class A (Switzerland)(d)
 
14,837
605,646
O’Reilly Automotive, Inc.(d)
 
85,260
7,407,389
Pool Corp.(c)
 
6,687
1,213,022
PulteGroup, Inc.
 
102,310
12,090,996
Ralph Lauren Corp.
 
19,745
7,185,205
Ross Stores, Inc.
 
141,701
32,836,373
Royal Caribbean Cruises Ltd.
 
1,284
365,465
SharkNinja, Inc.(c)(d)
 
5,189
632,487
Starbucks Corp.
 
15,843
1,570,992
Tapestry, Inc.
 
2,808
408,452
Tesla, Inc.(d)
 
3,145
1,370,560
Texas Roadhouse, Inc.
 
49,562
8,951,888
TJX Cos., Inc. (The)
 
338,926
52,448,798
Toll Brothers, Inc.
 
4,413
611,377
TopBuild Corp.(d)
 
10,028
4,186,489
Tractor Supply Co.
 
79,718
2,513,509
Ulta Beauty, Inc.(d)
 
27,298
13,890,587
Versigent PLC(d)
 
13,160
580,619
Williams-Sonoma, Inc.
 
67,515
13,744,029
YETI Holdings, Inc.(d)
 
34,946
1,676,360
Yum! Brands, Inc.
 
19,345
2,862,093
 
 
451,310,595
Consumer Staples-8.20%
Altria Group, Inc.
 
1,173,978
81,685,389
BellRing Brands, Inc.(d)
 
43,360
362,490
BJ’s Wholesale Club Holdings, Inc.(c)(d)
 
34,204
2,916,917
Boston Beer Co., Inc. (The), Class A(d)
 
6,767
1,199,654
Church & Dwight Co., Inc.
 
19,739
1,887,641
Clorox Co. (The)
 
21,121
1,901,312
Coca-Cola Co. (The)
 
41,632
3,289,344
Coca-Cola Consolidated, Inc.
 
2,082
360,727
Colgate-Palmolive Co.
 
407,655
36,741,945
Constellation Brands, Inc., Class A
 
12,224
1,696,936
Costco Wholesale Corp.
 
66,646
63,734,903
Dollar General Corp.
 
21,904
2,422,801
General Mills, Inc.(c)
 
6,290
212,665
Hershey Co. (The)
 
23,008
4,464,242
Hormel Foods Corp.
 
11,705
271,907
Ingredion, Inc.(c)
 
26,507
2,688,870
Kenvue, Inc.
 
47,713
824,481
Keurig Dr Pepper, Inc.
 
8,081
242,672
Kimberly-Clark Corp.
 
94,937
9,265,851
Kraft Heinz Co. (The)
 
9,169
220,148
Kroger Co. (The)
 
7,572
470,600
Maplebear, Inc.(c)(d)
 
92,578
3,684,604
Mondelez International, Inc., Class A
 
60,749
3,716,016
Monster Beverage Corp.(d)
 
449,081
39,555,054
PepsiCo, Inc.
 
47,129
6,795,531
See accompanying notes which are an integral part of this schedule.

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Consumer Staples-(continued)
Philip Morris International, Inc.
(Switzerland)
 
186,052
$33,001,904
Pilgrim’s Pride Corp.
 
9,064
256,602
Procter & Gamble Co. (The)
 
167,567
24,055,919
Smithfield Foods, Inc.(c)
 
57,025
1,472,956
Sprouts Farmers Market, Inc.(c)(d)
 
54,687
4,518,240
Target Corp.
 
5,710
725,570
Tyson Foods, Inc., Class A
 
6,179
377,043
US Foods Holding Corp.(d)
 
19,004
1,555,477
Walmart, Inc.
 
451,275
52,235,081
 
 
388,811,492
Energy-3.28%
Baker Hughes Co., Class A
 
48,100
3,072,628
Chevron Corp.
 
496,146
90,526,799
ConocoPhillips
 
3,459
394,257
Devon Energy Corp.
 
81,542
3,627,804
EOG Resources, Inc.
 
248,634
33,162,803
Exxon Mobil Corp.
 
22,066
3,205,307
Halliburton Co.
 
8,847
343,706
Marathon Petroleum Corp.
 
5,481
1,363,508
NOV, Inc.
 
21,359
426,326
Permian Resources Corp.
 
49,129
944,751
SLB Ltd.
 
93,242
5,086,351
TechnipFMC PLC (United Kingdom)
 
174,881
11,965,358
Texas Pacific Land Corp.
 
1,866
733,338
Valero Energy Corp.
 
1,765
432,107
 
 
155,285,043
Financials-11.14%
Affiliated Managers Group, Inc.
 
1,272
385,225
Aflac, Inc.
 
5,208
585,483
Allstate Corp. (The)
 
3,056
629,811
American Express Co.
 
2,914
922,194
Aon PLC, Class A
 
8,572
2,709,266
Arch Capital Group Ltd.(d)
 
41,894
3,742,810
Berkshire Hathaway, Inc., Class B(d)
 
154,339
73,230,769
BlackRock, Inc.
 
886
927,536
Blackstone, Inc., Class A
 
18,545
2,169,209
Brookfield Asset Management Ltd., Class A
(Canada)(c)
 
75,537
3,671,098
Brown & Brown, Inc.(c)
 
6,981
392,681
Capital One Financial Corp.
 
4,410
828,771
Cboe Global Markets, Inc.
 
39,634
13,220,317
Chubb Ltd.
 
2,113
658,685
Cincinnati Financial Corp.
 
17,973
2,829,310
Corpay, Inc.(d)
 
1,856
671,501
Euronet Worldwide, Inc.(c)(d)
 
7,642
553,892
Evercore, Inc., Class A
 
17,156
5,847,794
FactSet Research Systems, Inc.(c)
 
33,048
8,112,293
Fidelity National Information Services, Inc.
 
40,102
1,723,985
Fiserv, Inc.(d)
 
9,058
512,320
Global Payments, Inc.(c)
 
2,833
213,920
Hamilton Lane, Inc., Class A(c)
 
30,498
2,657,291
Hartford Insurance Group, Inc. (The)
 
2,399
304,985
Houlihan Lokey, Inc.
 
37,868
5,364,381
Jack Henry & Associates, Inc.
 
36,183
4,932,467
Janus Henderson Group PLC
 
5,831
301,521
Kinsale Capital Group, Inc.(c)
 
7,375
2,247,679
Lazard, Inc.
 
6,641
314,319
LPL Financial Holdings, Inc.
 
15,400
4,216,058
Markel Group, Inc.(c)(d)
 
190
344,962
MarketAxess Holdings, Inc.(c)
 
26,051
3,387,672
 
Shares
Value
Financials-(continued)
Marsh & McLennan Cos., Inc.
 
59,112
$9,456,147
Mastercard, Inc., Class A
 
169,350
83,655,513
MGIC Investment Corp.
 
302,925
7,639,768
Moody’s Corp.
 
78,533
35,595,082
Morningstar, Inc.
 
9,037
1,644,915
MSCI, Inc.
 
42,283
26,696,641
PayPal Holdings, Inc.
 
87,973
3,936,792
Progressive Corp. (The)
 
195,633
37,248,523
RLI Corp.
 
5,453
272,868
S&P Global, Inc.
 
6,873
2,914,152
SEI Investments Co.
 
140,902
12,382,468
Synchrony Financial
 
35,928
2,566,696
T. Rowe Price Group, Inc.(c)
 
298,023
31,152,344
TPG, Inc.(d)(e)
 
11,683
0
Tradeweb Markets, Inc., Class A
 
7,437
745,559
Travelers Cos., Inc. (The)
 
1,498
437,251
Visa, Inc., Class A
 
376,509
122,877,477
W.R. Berkley Corp.
 
4,656
295,842
 
 
528,128,243
Health Care-9.81%
Abbott Laboratories
 
294,423
25,202,609
AbbVie, Inc.
 
6,723
1,463,732
Agilent Technologies, Inc.
 
10,384
1,407,344
Align Technology, Inc.(d)
 
12,720
2,225,364
Amgen, Inc.
 
8,767
2,952,638
Becton, Dickinson and Co.
 
2,047
301,155
Biogen, Inc.(d)
 
4,363
855,148
BioMarin Pharmaceutical, Inc.(d)
 
57,875
3,315,659
Bio-Techne Corp.
 
17,192
888,483
Boston Scientific Corp.(d)
 
3,031
146,428
Bristol-Myers Squibb Co.
 
14,860
849,695
Cencora, Inc.
 
759
204,444
Chemed Corp.
 
14,317
6,104,912
Cigna Group (The)
 
143,511
39,809,951
Corcept Therapeutics, Inc.(c)(d)
 
6,335
440,219
CVS Health Corp.
 
13,148
1,196,205
Danaher Corp.
 
13,612
2,486,504
Dexcom, Inc.(d)
 
11,353
837,170
Doximity, Inc., Class A(d)
 
8,578
183,569
Edwards Lifesciences Corp.(d)
 
79,413
6,866,842
Eli Lilly and Co.
 
5,590
6,176,950
Encompass Health Corp.
 
3,458
366,029
Exelixis, Inc.(d)
 
282,096
14,240,206
GE HealthCare Technologies, Inc.
 
3,129
195,062
Gilead Sciences, Inc.
 
95,092
12,783,218
Globus Medical, Inc., Class A(d)
 
37,636
3,081,636
Halozyme Therapeutics, Inc.(d)
 
5,070
337,358
HCA Healthcare, Inc.
 
12,326
4,665,884
Henry Schein, Inc.(c)(d)
 
12,012
919,879
Humana, Inc.
 
72,134
22,031,166
IDEXX Laboratories, Inc.(d)
 
27,150
15,299,839
Illumina, Inc.(d)
 
4,412
718,980
Incyte Corp.(d)
 
65,348
6,321,766
Insulet Corp.(d)
 
1,309
189,726
Intuitive Surgical, Inc.(d)
 
8,560
3,634,918
IQVIA Holdings, Inc.(d)
 
1,971
359,136
Johnson & Johnson
 
152,654
34,397,526
Labcorp Holdings, Inc.
 
1,733
450,684
McKesson Corp.
 
115,469
85,728,804
Medpace Holdings, Inc.(d)
 
7,310
3,268,374
Medtronic PLC
 
23,908
1,764,649
Merck & Co., Inc.
 
411,409
48,842,476
See accompanying notes which are an integral part of this schedule.

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Mettler-Toledo International, Inc.(d)
 
6,908
$8,155,447
Molina Healthcare, Inc.(c)(d)
 
9,052
1,571,427
Natera, Inc.(d)
 
3,152
704,062
Neurocrine Biosciences, Inc.(d)
 
26,830
4,247,189
Penumbra, Inc.(c)(d)
 
6,133
1,952,134
Pfizer, Inc.
 
75,221
1,969,286
Qiagen N.V.
 
5,082
185,950
Regeneron Pharmaceuticals, Inc.
 
30,916
19,006,538
ResMed, Inc.(c)
 
71,405
13,607,651
Royalty Pharma PLC, Class A
 
17,646
983,941
Solventum Corp.(d)
 
21,858
1,638,257
STERIS PLC
 
10,487
2,230,900
Stryker Corp.
 
2,842
867,066
Thermo Fisher Scientific, Inc.
 
1,163
572,789
United Therapeutics Corp.(d)
 
43,804
24,390,943
UnitedHealth Group, Inc.
 
4,414
1,678,688
Universal Health Services, Inc., Class B
 
10,063
1,470,305
Veeva Systems, Inc., Class A(d)
 
13,582
2,367,886
Waters Corp.(d)
 
1,096
420,393
West Pharmaceutical Services, Inc.
 
17,489
5,645,624
Zimmer Biomet Holdings, Inc.
 
2,877
236,863
Zoetis, Inc.
 
102,023
7,926,167
 
 
465,341,843
Industrials-9.63%
3M Co.
 
3,636
556,781
A.O. Smith Corp.
 
94,048
5,334,403
Allegion PLC
 
4,594
597,542
Allison Transmission Holdings, Inc.
 
4,954
562,428
Amentum Holdings, Inc.(d)
 
9,944
230,999
AMETEK, Inc.
 
51,339
11,594,913
Applied Industrial Technologies, Inc.
 
5,760
1,749,946
Armstrong World Industries, Inc.
 
2,288
361,275
Automatic Data Processing, Inc.
 
8,579
1,903,165
Booz Allen Hamilton Holding Corp.
 
15,821
1,252,707
Broadridge Financial Solutions, Inc.
 
45,920
7,058,822
Builders FirstSource, Inc.(c)(d)
 
5,830
444,596
BWX Technologies, Inc.
 
2,015
394,698
C.H. Robinson Worldwide, Inc.
 
4,274
763,550
Carlisle Cos., Inc.(c)
 
48,869
16,850,520
Carpenter Technology Corp.
 
2,239
1,050,046
Caterpillar, Inc.
 
9,778
8,564,257
Cintas Corp.
 
98,150
16,809,169
Clean Harbors, Inc.(d)
 
983
276,252
Comfort Systems USA, Inc.
 
5,322
9,729,734
Copart, Inc.(d)
 
259,392
8,500,276
Crane Co.
 
4,680
856,440
CSX Corp.
 
33,286
1,506,524
Cummins, Inc.
 
2,594
1,677,358
Curtiss-Wright Corp.
 
1,496
1,118,425
Delta Air Lines, Inc.
 
24,381
2,010,945
Donaldson Co., Inc.
 
29,125
2,384,464
Dover Corp.
 
3,836
810,777
Eaton Corp. PLC
 
28,909
11,580,945
EMCOR Group, Inc.
 
31,969
26,432,609
Emerson Electric Co.
 
28,065
4,036,308
Equifax, Inc.
 
1,117
185,187
ExlService Holdings, Inc.(d)
 
61,945
1,798,263
Expeditors International of Washington,
Inc.
 
178,871
28,259,829
Fastenal Co.
 
518,110
22,900,462
FedEx Corp.
 
3,514
1,446,889
Ferguson Enterprises, Inc.
 
10,358
2,340,597
 
Shares
Value
Industrials-(continued)
Fortive Corp.
 
5,820
$339,422
FTI Consulting, Inc.(c)(d)
 
19,394
2,970,773
GE Vernova, Inc.
 
26,787
25,938,388
Generac Holdings, Inc.(d)
 
2,663
740,074
General Dynamics Corp.
 
28,912
10,027,260
Genpact Ltd.
 
28,091
925,598
Graco, Inc.
 
29,271
2,208,497
HEICO Corp., Class A(c)
 
925
240,324
Hexcel Corp.(c)
 
7,691
690,575
Honeywell International, Inc.
 
1,510
359,169
Howmet Aerospace, Inc.
 
10,358
2,674,953
Hubbell, Inc.
 
8,853
4,192,869
Illinois Tool Works, Inc.
 
61,637
15,241,597
ITT, Inc.
 
12,503
2,438,085
J.B. Hunt Transport Services, Inc.
 
35,383
9,780,923
Jacobs Solutions, Inc.
 
11,985
1,436,522
Johnson Controls International PLC
 
42,394
5,683,340
Kirby Corp.(d)
 
19,386
2,725,478
L3Harris Technologies, Inc.
 
1,562
492,311
Landstar System, Inc.
 
3,195
661,046
Leidos Holdings, Inc.
 
3,379
431,836
Lennox International, Inc.(c)
 
2,954
1,483,381
Leonardo DRS, Inc.
 
6,496
316,745
Lincoln Electric Holdings, Inc.
 
2,170
560,923
Lockheed Martin Corp.
 
14,909
7,908,479
Lyft, Inc., Class A(c)(d)
 
16,897
238,417
Masco Corp.(c)
 
70,153
4,928,248
MasTec, Inc.(d)
 
2,993
1,132,461
MSA Safety, Inc.(c)
 
3,340
553,772
MSC Industrial Direct Co., Inc., Class A
 
11,843
1,296,453
Mueller Industries, Inc.
 
25,255
3,247,793
Norfolk Southern Corp.
 
999
304,655
Northrop Grumman Corp.
 
4,227
2,382,675
Old Dominion Freight Line, Inc.
 
79,947
18,000,067
Oshkosh Corp.
 
15,147
1,969,110
Otis Worldwide Corp.
 
7,544
534,417
PACCAR, Inc.
 
2,894
319,411
Parker-Hannifin Corp.
 
3,047
2,573,588
Paychex, Inc.
 
2,407
233,431
Paycom Software, Inc.
 
17,634
2,462,941
Paylocity Holding Corp.(d)
 
6,362
731,185
Pentair PLC
 
5,803
411,085
Quanta Services, Inc.
 
896
637,710
Republic Services, Inc.
 
9,634
1,931,039
Robert Half, Inc.
 
24,794
729,935
Rockwell Automation, Inc.
 
4,939
2,227,785
Rollins, Inc.
 
84,185
4,007,206
RTX Corp.
 
6,770
1,216,298
Simpson Manufacturing Co., Inc.(c)
 
7,731
1,466,880
Snap-on, Inc.(c)
 
38,786
14,397,751
Tetra Tech, Inc.
 
30,283
832,480
Toro Co. (The)
 
33,303
2,993,274
Trane Technologies PLC
 
30,542
13,783,605
TransDigm Group, Inc.
 
337
424,054
Uber Technologies, Inc.(d)
 
136,725
9,625,440
Union Pacific Corp.
 
9,923
2,606,177
United Airlines Holdings, Inc.(d)
 
5,359
615,213
United Parcel Service, Inc., Class B
 
116,409
12,419,676
United Rentals, Inc.
 
1,431
1,424,804
Valmont Industries, Inc.
 
5,999
3,118,340
Veralto Corp.
 
2,156
177,288
Verisk Analytics, Inc.
 
33,287
5,824,892
See accompanying notes which are an integral part of this schedule.

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
W.W. Grainger, Inc.
 
17,803
$21,973,175
Waste Management, Inc.
 
1,071
226,474
Watsco, Inc.
 
1,909
700,794
Westinghouse Air Brake Technologies
Corp.
 
14,215
3,712,389
Woodward, Inc.
 
4,505
1,576,885
Xylem, Inc.
 
20,426
2,237,464
 
 
456,607,406
Information Technology-33.56%
Accenture PLC, Class A
 
197,069
36,865,698
Adobe, Inc.(d)
 
171,196
44,375,715
Advanced Micro Devices, Inc.(d)
 
13,839
7,142,308
Amdocs Ltd.(c)
 
27,511
1,732,368
Amphenol Corp., Class A
 
6,086
905,353
Analog Devices, Inc.
 
8,006
3,313,283
Apple, Inc.
 
1,302,097
406,332,390
Applied Materials, Inc.
 
125,589
56,522,585
AppLovin Corp., Class A(d)
 
1,918
1,175,907
Arista Networks, Inc.(d)
 
76,363
12,177,608
Autodesk, Inc.(d)
 
2,210
511,195
Broadcom, Inc.
 
91,089
40,695,833
Cirrus Logic, Inc.(d)
 
19,863
3,375,717
Cisco Systems, Inc.
 
327,483
39,435,503
Cognex Corp.
 
29,297
1,929,207
Cognizant Technology Solutions Corp.,
Class A
 
69,420
3,870,512
CrowdStrike Holdings, Inc., Class A(d)
 
1,697
1,240,507
DocuSign, Inc.(d)
 
9,072
476,461
Dolby Laboratories, Inc., Class A(c)
 
18,755
1,046,717
Dropbox, Inc., Class A(c)(d)
 
43,879
1,179,468
Dynatrace, Inc.(d)
 
24,352
1,037,152
F5, Inc.(d)
 
14,988
5,747,149
Fair Isaac Corp.(d)
 
3,143
3,930,604
First Solar, Inc.(d)
 
4,040
1,239,432
Fortinet, Inc.(d)
 
44,711
6,168,777
Gartner, Inc.(c)(d)
 
4,280
694,216
Intuit, Inc.
 
39,164
12,984,041
Keysight Technologies, Inc.(d)
 
1,906
644,857
KLA Corp.
 
23,866
45,863,531
Lam Research Corp.
 
323,319
102,873,639
Manhattan Associates, Inc.(d)
 
12,862
1,929,943
Micron Technology, Inc.
 
115,544
112,193,224
Microsoft Corp.
 
330,683
148,886,714
Monolithic Power Systems, Inc.
 
8,435
13,210,981
Motorola Solutions, Inc.
 
5,834
2,352,735
NetApp, Inc.
 
15,787
2,751,516
NVIDIA Corp.
 
1,133,536
239,334,791
Onto Innovation, Inc.(d)
 
1,879
485,233
Palantir Technologies, Inc., Class A(d)
 
1,780
278,641
Palo Alto Networks, Inc.(d)
 
7,060
1,988,731
PTC, Inc.(d)
 
4,726
655,638
Pure Storage, Inc., Class A(d)
 
7,616
605,548
Qnity Electronics, Inc.
 
54,515
8,504,340
QUALCOMM, Inc.
 
520,216
130,584,620
Salesforce, Inc.
 
59,237
11,320,191
ServiceNow, Inc.(d)
 
18,163
2,258,932
Skyworks Solutions, Inc.
 
48,654
3,787,714
Super Micro Computer, Inc.(c)(d)
 
9,632
443,939
Synopsys, Inc.(d)
 
12,971
6,169,267
Teledyne Technologies, Inc.(d)
 
1,503
931,604
Teradyne, Inc.
 
7,536
2,820,800
Texas Instruments, Inc.
 
4,085
1,248,703
 
Shares
Value
Information Technology-(continued)
Trimble, Inc.(d)
 
9,862
$556,315
Twilio, Inc., Class A(d)
 
3,561
678,869
Tyler Technologies, Inc.(c)(d)
 
3,111
974,210
Ubiquiti, Inc.(c)
 
704
411,037
Universal Display Corp.(c)
 
3,423
315,327
VeriSign, Inc.
 
41,433
11,824,150
Western Digital Corp.
 
68,735
36,512,719
Workday, Inc., Class A(d)
 
2,063
301,590
Zebra Technologies Corp., Class A(d)
 
2,373
578,134
Zoom Communications, Inc., Class A(d)
 
11,967
1,215,728
 
 
1,591,599,617
Materials-2.54%
AptarGroup, Inc.
 
9,226
1,068,832
Avery Dennison Corp.
 
3,961
630,076
CF Industries Holdings, Inc.
 
60,434
6,789,760
Corteva, Inc.
 
143,283
11,216,193
DuPont de Nemours, Inc.
 
5,809
281,272
Eagle Materials, Inc.
 
974
215,429
Ecolab, Inc.
 
7,492
1,917,952
Freeport-McMoRan, Inc.
 
170,500
11,203,555
International Paper Co.(c)
 
6,761
226,291
Linde PLC
 
23,101
11,497,137
Louisiana-Pacific Corp.
 
48,841
3,730,476
Newmont Corp.
 
301,614
33,120,233
Nucor Corp.
 
4,578
1,144,500
Packaging Corp. of America
 
8,481
1,856,576
PPG Industries, Inc.
 
2,356
266,181
Reliance, Inc.
 
34,426
13,108,388
Royal Gold, Inc.
 
23,230
5,214,670
Sherwin-Williams Co. (The)
 
3,505
1,064,959
Solstice Advanced Materials, Inc.
 
117,320
9,881,864
Southern Copper Corp. (Mexico)(c)
 
25,288
4,837,594
Steel Dynamics, Inc.
 
5,264
1,369,430
 
 
120,641,368
Real Estate-0.77%
AvalonBay Communities, Inc.
 
1,937
353,522
CBRE Group, Inc., Class A(d)
 
1,591
198,939
CubeSmart
 
9,959
398,360
Equity LifeStyle Properties, Inc.
 
8,755
540,796
Equity Residential
 
5,250
343,612
Essex Property Trust, Inc.(c)
 
2,002
545,825
Gaming and Leisure Properties, Inc.
 
18,107
850,486
Host Hotels & Resorts, Inc.
 
23,012
528,816
Lamar Advertising Co., Class A
 
1,783
271,836
Prologis, Inc.
 
2,404
344,902
Public Storage(c)
 
69,959
21,245,849
Rayonier, Inc.(c)
 
116,226
2,427,961
SBA Communications Corp., Class A
 
7,567
1,537,312
Simon Property Group, Inc.
 
25,852
5,297,333
VICI Properties, Inc.
 
59,096
1,667,689
 
 
36,553,238
Utilities-0.36%
Ameren Corp.
 
2,899
313,005
American Electric Power Co., Inc.
 
7,177
909,110
American Water Works Co., Inc.
 
2,145
264,414
Atmos Energy Corp.
 
2,552
431,620
CMS Energy Corp.
 
3,198
232,079
Consolidated Edison, Inc.
 
5,137
542,621
Dominion Energy, Inc.
 
6,512
435,913
DTE Energy Co.
 
2,518
359,747
See accompanying notes which are an integral part of this schedule.

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Utilities-(continued)
Duke Energy Corp.
 
11,036
$1,354,448
Edison International
 
5,699
398,588
Entergy Corp.(c)
 
4,932
537,835
Evergy, Inc.
 
4,241
347,932
Exelon Corp.
 
13,685
624,583
National Fuel Gas Co.
 
16,611
1,283,200
NextEra Energy, Inc.
 
12,302
1,070,397
NRG Energy, Inc.
 
25,977
3,482,996
PG&E Corp.
 
15,283
249,724
PPL Corp.
 
8,339
295,117
Southern Co. (The)
 
16,281
1,498,666
Talen Energy Corp.(d)
 
2,657
1,027,728
UGI Corp.(c)
 
5,901
206,063
Vistra Corp.
 
2,329
373,176
WEC Energy Group, Inc.
 
3,678
408,442
Xcel Energy, Inc.
 
4,220
335,490
 
 
16,982,894
Total Common Stocks & Other Equity Interests
(Cost $4,048,867,093)
4,739,468,087
Money Market Funds-0.00%
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(f)(g)
(Cost $193,287)
 
193,287
193,287
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.95%
(Cost $4,049,060,380)
4,739,661,374
 
Shares
Value
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-1.87%
Invesco Private Government Fund,
3.58%(f)(g)(h)
 
24,596,957
$24,596,957
Invesco Private Prime Fund, 3.75%(f)(g)(h)
 
64,036,322
64,049,129
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $88,645,590)
88,646,086
TOTAL INVESTMENTS IN SECURITIES-101.82%
(Cost $4,137,705,970)
4,828,307,460
OTHER ASSETS LESS LIABILITIES-(1.82)%
(86,197,562
)
NET ASSETS-100.00%
$4,742,109,898
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
Restricted security. The aggregate value of these securities at May 31, 2026 was $375,441,010, which represented 7.92% of the Fund’s Net Assets.
(c)
All or a portion of this security was out on loan at May 31, 2026.
(d)
Non-income producing security.
(e)
Security valued using significant unobservable inputs (Level 3). See Note1.
(f)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended May 31, 2026.
 
Value
August 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
May 31, 2026
Dividend Income
Invesco Ltd.
$-
$5,326,560
$(5,083,334
)
$-
$(243,226
)
$-
$45,767
Investments in
Affiliated Money
Market Funds:
Invesco Government
& Agency Portfolio,
Institutional Class
282,600
54,989,972
(55,079,285
)
-
-
193,287
33,268
See accompanying notes which are an integral part of this schedule.

Invesco Russell 1000® Dynamic Multifactor ETF (OMFL)—(continued)
May 31, 2026
(Unaudited)
 
Value
August 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
May 31, 2026
Dividend Income
Investments
Purchased with
Cash Collateral
from Securities on
Loan:
Invesco Private
Government Fund
$13,790,373
$392,835,880
$(382,029,296
)
$-
$-
$24,596,957
$902,742
*
Invesco Private
Prime Fund
35,830,361
794,869,521
(766,639,041
)
(1,809
)
(9,903
)
64,049,129
2,437,824
*
Total
$49,903,334
$1,248,021,933
$(1,208,830,956
)
$(1,809
)
$(253,129
)
$88,839,373
$3,419,601
*
Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from
borrowers, if any.
(g)
The rate shown is the 7-day SEC standardized yield as of May 31, 2026.
(h)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Schedule of Investments(a)
Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)
May 31, 2026
(Unaudited)
 
Shares
Value
Common Stocks & Other Equity Interests-99.90%
Communication Services-1.09%
Anterix, Inc.(b)(c)
 
773
$49,488
Atlanta Braves Holdings, Inc., Series C(b)
 
579
28,718
Boston Omaha Corp., Class A(b)(c)
 
1,961
25,258
CarGurus, Inc.(b)(c)
 
19,024
568,057
Cars.com, Inc.(b)(c)
 
1,401
14,402
Cinemark Holdings, Inc.
 
1,716
48,048
Cogent Communications Holdings, Inc.(c)
 
3,499
62,142
E.W. Scripps Co. (The), Class A(b)(c)
 
3,004
10,184
EchoStar Corp., Class A(b)(c)
 
1,826
235,901
EverQuote, Inc., Class A(b)(c)
 
3,904
75,113
FuboTV, Inc.(b)(c)
 
594
5,994
Globalstar, Inc.(b)(c)
 
2,444
205,809
Gray Media, Inc.(c)
 
5,532
22,183
Grindr, Inc. (Singapore)(b)
 
1,236
15,450
IDT Corp., Class B(c)
 
821
45,286
iHeartMedia, Inc., Class A(b)
 
8,601
37,070
IMAX Corp.(b)(c)
 
1,415
56,147
John Wiley & Sons, Inc., Class A(c)
 
449
18,894
Liberty Latin America Ltd., Class C(b)
 
4,357
35,727
Lionsgate Studios Corp.(b)
 
2,291
32,876
Lumen Technologies, Inc.(b)
 
3,917
43,048
Madison Square Garden Entertainment
Corp.(b)
 
1,237
87,246
Magnite, Inc.(b)(c)
 
1,474
21,122
MediaAlpha, Inc., Class A(b)(c)
 
8,280
73,692
Nextdoor Holdings, Inc.(b)
 
21,552
45,475
Nexxen International Ltd. (Israel)(b)
 
2,336
19,622
QuinStreet, Inc.(b)
 
9,211
115,322
Rumble, Inc.(b)(c)
 
8,804
80,909
Scholastic Corp.
 
962
38,961
Sinclair, Inc.
 
1,261
17,440
Sphere Entertainment Co.(b)(c)
 
4,232
586,047
Spok Holdings, Inc.
 
4,315
45,696
Telephone and Data Systems, Inc.
 
1,991
77,868
TripAdvisor, Inc.(b)(c)
 
2,129
23,802
USA TODAY Co., Inc.(b)(c)
 
2,652
20,712
Yelp, Inc.(b)(c)
 
8,587
195,784
 
 
3,085,493
Consumer Discretionary-8.94%
Abercrombie & Fitch Co., Class A(b)(c)
 
940
72,587
Academy Sports & Outdoors, Inc.(c)
 
3,020
159,456
Acushnet Holdings Corp.
 
3,240
287,647
Adient PLC(b)
 
3,295
75,324
Advance Auto Parts, Inc.(c)
 
737
44,397
American Eagle Outfitters, Inc.(c)
 
17,172
271,318
American Public Education, Inc.(b)(c)
 
2,251
111,357
Arhaus, Inc.
 
3,117
21,102
Asbury Automotive Group, Inc.(b)
 
1,169
219,433
Biglari Holdings, Inc., Class B(b)(c)
 
48
13,943
BJ’s Restaurants, Inc.(b)(c)
 
4,318
203,162
Black Rock Coffee Bar, Inc., Class A(b)(c)
 
709
5,899
Boot Barn Holdings, Inc.(b)(c)
 
3,850
653,999
Brinker International, Inc.(b)(c)
 
9,618
1,369,411
Buckle, Inc. (The)(c)
 
8,395
385,079
Build-A-Bear Workshop, Inc.(c)
 
1,741
64,783
Callaway Golf Co.(b)(c)
 
10,925
168,245
Capri Holdings Ltd.(b)
 
3,654
67,635
Carriage Services, Inc.
 
349
14,375
Carter’s, Inc.
 
637
24,582
Cavco Industries, Inc.(b)(c)
 
3,071
1,647,653
Century Communities, Inc.
 
445
23,505
 
Shares
Value
Consumer Discretionary-(continued)
Champion Homes, Inc.(b)
 
8,215
$604,870
Cheesecake Factory, Inc. (The)(c)
 
2,054
135,646
Cooper-Standard Holdings, Inc.(b)
 
550
16,681
Coursera, Inc.(b)(c)
 
33,392
179,983
Covista, Inc.(b)(c)
 
4,840
570,152
Cricut, Inc., Class A(c)
 
10,130
42,039
Dana, Inc.
 
11,807
418,086
Dauch Corp.(b)(c)
 
6,274
41,659
Dorman Products, Inc.(b)(c)
 
1,318
163,327
Driven Brands Holdings, Inc.(b)(c)
 
1,071
14,823
El Pollo Loco Holdings, Inc.(b)
 
2,049
30,469
Envela Corp.(b)(c)
 
1,738
44,249
Ermenegildo Zegna N.V. (Italy)(c)
 
3,249
47,760
Escalade, Inc.(c)
 
2,279
42,777
Ethan Allen Interiors, Inc.
 
3,080
63,510
Figs, Inc., Class A(b)
 
7,447
87,577
First Watch Restaurant Group, Inc.(b)(c)
 
1,753
20,387
Flexsteel Industries, Inc.
 
374
21,550
Garrett Motion, Inc. (Switzerland)
 
13,354
437,477
Genesco, Inc.(b)(c)
 
520
19,952
Genius Sports Ltd. (United Kingdom)(b)(c)
 
33,053
193,691
Gentherm, Inc.(b)(c)
 
1,442
50,023
GigaCloud Technology, Inc., Class A(b)(c)
 
9,341
336,650
G-III Apparel Group Ltd.(c)
 
4,321
139,698
Global Business Travel Group, Inc.(b)(c)
 
2,525
23,583
Goodyear Tire & Rubber Co. (The)(b)(c)
 
1,877
11,450
Graham Holdings Co., Class B
 
314
344,549
Green Brick Partners, Inc.(b)(c)
 
553
37,195
Hamilton Beach Brands Holding Co., Class A
 
1,087
22,066
Haverty Furniture Cos., Inc.
 
715
16,581
Hilton Grand Vacations, Inc.(b)(c)
 
552
28,715
Installed Building Products, Inc.
 
2,247
471,825
Johnson Outdoors, Inc., Class A(c)
 
1,240
55,502
KB Home(c)
 
1,768
86,384
Kohl’s Corp.
 
1,043
14,977
Kontoor Brands, Inc.(c)
 
3,852
276,458
Laureate Education, Inc., Class A(b)(c)
 
97,831
3,129,614
La-Z-Boy, Inc.
 
6,017
226,119
LCI Industries
 
2,138
233,085
Legacy Housing Corp.(b)(c)
 
684
16,423
Leggett & Platt, Inc.
 
12,487
128,241
Life Time Group Holdings, Inc.(b)
 
5,734
189,681
Lincoln Educational Services Corp.(b)(c)
 
3,208
148,595
M/I Homes, Inc.(b)(c)
 
540
71,075
Malibu Boats, Inc., Class A(b)(c)
 
1,244
34,160
MasterCraft Boat Holdings, Inc.(b)(c)
 
2,741
63,838
McGraw Hill, Inc.(b)(c)
 
809
9,740
Monarch Casino & Resort, Inc.
 
5,392
648,442
Motorcar Parts of America, Inc.(b)(c)
 
1,761
19,477
Nathan’s Famous, Inc.(c)
 
1,012
102,111
National Vision Holdings, Inc.(b)(c)
 
2,968
49,714
Navan, Inc., Class A(b)
 
935
19,981
OneSpaWorld Holdings Ltd. (Bahamas)
 
14,948
355,015
Outdoor Holding Co.(b)
 
7,650
15,759
Patrick Industries, Inc.
 
364
32,949
Perdoceo Education Corp.
 
6,431
208,236
Phinia, Inc.
 
4,214
325,574
Phoenix Education Partners, Inc.
 
2,439
73,755
RealReal, Inc. (The)(b)
 
1,970
18,991
Red Rock Resorts, Inc., Class A(c)
 
2,537
148,110
Revolve Group, Inc.(b)
 
1,713
33,575
Rocky Brands, Inc.
 
441
17,049
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Consumer Discretionary-(continued)
Rush Street Interactive, Inc.(b)(c)
 
49,557
$1,255,774
Sally Beauty Holdings, Inc.(b)(c)
 
3,925
52,124
Shake Shack, Inc., Class A(b)
 
1,953
125,597
Signet Jewelers Ltd.(c)
 
8,024
701,217
Sonos, Inc.(b)
 
33,808
533,490
Steven Madden Ltd.
 
18,784
815,977
Strategic Education, Inc.(c)
 
3,657
280,675
Strattec Security Corp.(b)(c)
 
1,758
140,570
Stride, Inc.(b)(c)
 
1,946
179,771
Sturm, Ruger & Co., Inc.(c)
 
2,826
110,468
Super Group (SGHC) Ltd. (Guernsey)(c)
 
126,313
1,572,597
Taylor Morrison Home Corp., Class A(b)
 
1,348
78,858
United Parks & Resorts, Inc.(b)(c)
 
490
19,664
Universal Technical Institute, Inc.(b)(c)
 
4,978
186,227
Upbound Group, Inc.(c)
 
1,084
20,824
Urban Outfitters, Inc.(b)
 
3,684
267,643
Victoria’s Secret & Co.(b)(c)
 
1,113
61,215
Visteon Corp.
 
4,221
499,302
Warby Parker, Inc., Class A(b)
 
4,201
103,008
Weyco Group, Inc.
 
453
15,986
Winmark Corp.(c)
 
1,824
690,512
Winnebago Industries, Inc.
 
387
11,490
XPEL, Inc.(b)(c)(d)
 
2,767
126,507
Zumiez, Inc.(b)(c)
 
5,514
135,810
 
 
25,321,828
Consumer Staples-2.03%
Alico, Inc.(c)
 
1,660
67,479
Cal-Maine Foods, Inc.(c)
 
13,217
987,574
Central Garden & Pet Co., Class A(b)
 
1,159
39,557
Chefs’ Warehouse, Inc. (The)(b)(c)
 
1,238
94,757
Dole PLC
 
7,357
102,924
FitLife Brands, Inc.(b)
 
1,274
13,020
Fresh Del Monte Produce, Inc.
 
3,384
108,762
Herbalife Ltd.(b)(c)
 
30,087
359,841
Interparfums, Inc.
 
1,750
165,148
J&J Snack Foods Corp.
 
685
52,142
Lifeway Foods, Inc.(b)(c)
 
872
20,780
Mama’s Creations, Inc.(b)(c)
 
21,346
294,575
Marzetti Co. (The)
 
1,832
205,074
Mission Produce, Inc.(b)(c)
 
5,956
66,350
National Beverage Corp.(b)(c)
 
3,990
147,590
Natural Grocers by Vitamin Cottage, Inc.(c)
 
1,832
53,788
Nature’s Sunshine Products, Inc.(b)(c)
 
9,664
205,650
Niagen Bioscience, Inc.(b)(c)
 
8,103
31,278
Nu Skin Enterprises, Inc., Class A
 
8,346
48,323
Oil-Dri Corp.of America
 
3,284
251,751
PriceSmart, Inc.(c)
 
3,769
640,692
Seneca Foods Corp., Class A(b)
 
4,217
606,362
Simply Good Foods Co. (The)(b)(c)
 
2,140
24,653
Spectrum Brands Holdings, Inc.(c)
 
493
38,794
Tootsie Roll Industries, Inc.(c)
 
3,851
145,221
Turning Point Brands, Inc.
 
411
34,906
United Natural Foods, Inc.(b)(c)
 
3,700
189,995
Universal Corp.(c)
 
1,681
87,194
Village Super Market, Inc., Class A(c)
 
1,864
86,601
Vita Coco Co., Inc. (The)(b)(c)
 
1,371
103,003
Vital Farms, Inc.(b)(c)
 
3,562
35,656
WD-40 Co.(c)
 
1,689
337,749
Weis Markets, Inc.
 
1,407
102,669
Zevia PBC, Class A(b)(c)
 
7,673
11,893
 
 
5,761,751
 
Shares
Value
Energy-3.69%
Ardmore Shipping Corp. (Ireland)
 
10,126
$162,826
BKV Corp. (Thailand)(b)(c)
 
572
15,181
Bristow Group, Inc.(c)
 
873
36,352
Cactus, Inc., Class A
 
2,793
162,106
Centrus Energy Corp., Class A(b)(c)
 
2,690
490,844
CNX Resources Corp.(b)(c)
 
2,023
68,155
Core Natural Resources, Inc.
 
663
58,636
DHT Holdings, Inc.(c)
 
53,520
873,446
Dorian LPG Ltd.
 
876
35,233
Energy Fuels, Inc.(b)(c)
 
3,364
61,292
Expro Group Holdings N.V.(b)
 
7,069
104,409
FLEX LNG Ltd. (Norway)(b)(c)
 
1,542
45,905
Forum Energy Technologies, Inc.(b)(c)
 
1,652
82,964
Golar LNG Ltd. (Cameroon)
 
611
30,397
Granite Ridge Resources, Inc.
 
3,682
17,895
Gulfport Energy Corp.(b)
 
2,636
444,403
Helix Energy Solutions Group, Inc.(b)(c)
 
2,780
25,993
Helmerich & Payne, Inc.(c)
 
1,619
61,765
Infinity Natural Resources, Inc., Class A(b)(c)
 
1,175
15,921
Innovex International, Inc.(b)(c)
 
26,204
699,909
International Seaways, Inc.
 
11,520
889,229
Liberty Energy, Inc., Class A
 
1,190
34,819
Magnolia Oil & Gas Corp., Class A(c)
 
19,114
522,959
Murphy Oil Corp.(c)
 
12,115
438,442
National Energy Services Reunited Corp.(b)
 
12,344
300,576
Natural Gas Services Group, Inc.
 
645
25,349
Navigator Holdings Ltd.
 
1,743
37,823
Noble Corp. PLC
 
427
19,847
Nordic American Tankers Ltd.(c)
 
41,163
211,990
Northern Oil and Gas, Inc.(c)
 
1,000
21,770
Oceaneering International, Inc.(b)(c)
 
3,716
142,063
Par Pacific Holdings, Inc.(b)(c)
 
519
29,147
Patterson-UTI Energy, Inc.
 
50,202
562,764
Peabody Energy Corp.(c)
 
3,943
106,658
PrimeEnergy Resources Corp.(b)
 
96
15,804
ProPetro Holding Corp.(b)
 
10,184
155,408
Riley Exploration Permian, Inc.
 
840
27,938
SandRidge Energy, Inc.
 
2,032
29,809
Scorpio Tankers, Inc. (Monaco)
 
12,885
960,061
Seadrill Ltd. (Norway)(b)
 
447
21,085
SFL Corp. Ltd. (Norway)
 
2,336
25,789
Talos Energy, Inc.(b)
 
3,978
58,357
Teekay Corp. Ltd. (Bermuda)
 
18,502
212,218
Teekay Tankers Ltd., Class A (Canada)
 
9,502
668,466
Tidewater, Inc.(b)(c)
 
5,947
437,045
Transocean Ltd.(b)(c)
 
5,529
34,225
Uranium Energy Corp.(b)(c)
 
33,210
457,302
VAALCO Energy, Inc.(c)
 
4,423
23,088
Valaris Ltd.(b)(c)
 
4,634
429,247
Vitesse Energy, Inc.
 
3,701
63,953
 
 
10,456,863
Financials-25.43%
1st Source Corp.
 
2,797
206,475
Acadian Asset Management, Inc.
 
29,235
2,113,983
ACNB Corp.
 
2,119
115,040
ACRES Commercial Realty Corp.(b)(c)
 
1,363
27,805
Adamas Trust, Inc.(c)
 
13,701
126,049
Alerus Financial Corp.(c)
 
3,338
95,400
Amalgamated Financial Corp.(c)
 
2,006
83,209
Amerant Bancorp, Inc.
 
1,947
44,236
American Coastal Insurance Corp.(c)
 
1,766
18,455
American Integrity Insurance Group, Inc.
 
1,458
23,853
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Ameris Bancorp(c)
 
8,460
$713,263
AMERISAFE, Inc.
 
3,058
93,728
Ames National Corp.(c)
 
1,952
56,100
Angel Oak Mortgage REIT, Inc.(c)
 
2,859
23,530
Apollo Commercial Real Estate Finance,
Inc.(c)
 
12,811
140,409
Arbor Realty Trust, Inc.(c)
 
10,189
58,587
ARMOUR Residential REIT, Inc.(c)
 
10,065
172,615
Arrow Financial Corp.(c)
 
2,305
84,593
Artisan Partners Asset Management, Inc.,
Class A(c)
 
23,523
880,701
Associated Banc-Corp
 
13,803
383,861
Ategrity Specialty Holdings LLC(b)
 
1,430
27,899
Atlantic Union Bankshares Corp., Class B(c)
 
8,940
336,323
Avidbank Holdings, Inc.(b)
 
623
19,176
Axos Financial, Inc.(b)(c)
 
6,104
530,499
Baldwin Insurance Group, Inc. (The),
Class A(b)(c)
 
1,794
34,839
Banc of California, Inc.(c)
 
15,494
297,795
BancFirst Corp.(c)
 
1,990
219,477
Banco Latinoamericano de Comercio Exterior
S.A., Class E (Panama)
 
7,245
404,561
Bancorp, Inc. (The)(b)(c)
 
7,725
426,111
Bank First Corp.(c)
 
2,232
310,293
Bank of Hawaii Corp.
 
3,274
250,788
Bank of Marin Bancorp
 
1,863
48,140
Bank of N.T. Butterfield & Son Ltd. (The)
(Bermuda)(c)
 
9,252
522,368
Bank7 Corp.
 
677
29,964
BankUnited, Inc.(c)
 
7,511
348,435
Bankwell Financial Group, Inc.(c)
 
1,614
84,444
Banner Corp.
 
3,370
219,050
Bar Harbor Bankshares(c)
 
1,925
67,259
BayCom Corp.
 
1,571
48,387
Beacon Financial Corp.
 
6,241
181,551
BGC Group, Inc., Class A
 
56,771
593,257
Blackstone Mortgage Trust, Inc., Class A(c)
 
12,233
223,619
Blue Ridge Bankshares, Inc.
 
10,506
34,670
Bowhead Specialty Holdings, Inc.(b)
 
1,768
47,064
Bread Financial Holdings, Inc.
 
3,869
344,612
Bridgewater Bancshares, Inc.(b)(c)
 
3,702
69,820
BrightSpire Capital, Inc.(c)
 
4,236
24,442
Burford Capital Ltd.
 
10,265
47,630
Burke & Herbert Financial Services Corp.
 
1,979
125,864
Business First Bancshares, Inc.(c)
 
3,467
98,740
BV Financial, Inc.(b)
 
1,198
23,517
Byline Bancorp, Inc.
 
3,479
115,120
C&F Financial Corp.
 
327
24,116
California BanCorp
 
3,190
60,546
Camden National Corp.(c)
 
1,828
91,455
Capital Bancorp, Inc.(c)
 
1,351
43,124
Capital City Bank Group, Inc.(c)
 
2,516
114,830
Capitol Federal Financial, Inc.(c)
 
18,709
145,369
Carter Bankshares, Inc.
 
2,416
65,957
Cathay General Bancorp
 
6,916
398,777
CB Financial Services, Inc.
 
879
31,503
Central Pacific Financial Corp.
 
3,487
119,813
Chain Bridge Bancorp, Inc.(b)
 
559
20,264
Chemung Financial Corp.
 
594
40,796
Chicago Atlantic Real Estate Finance, Inc.(c)
 
5,734
65,196
Chimera Investment Corp.(c)
 
8,573
116,764
ChoiceOne Financial Services, Inc.
 
1,258
39,501
 
Shares
Value
Financials-(continued)
Citizens & Northern Corp.
 
2,879
$60,632
Citizens Community Bancorp, Inc.
 
1,220
24,888
Citizens Financial Services, Inc.
 
398
25,882
Citizens, Inc.(b)(c)
 
8,674
45,018
City Holding Co.(c)
 
2,207
274,352
Civista Bancshares, Inc.(c)
 
2,665
69,023
CNB Financial Corp.
 
3,607
110,627
CNO Financial Group, Inc.
 
10,333
475,008
Coastal Financial Corp.(b)(c)
 
2,382
169,551
CoastalSouth Bancshares, Inc.
 
687
17,539
Cohen & Steers, Inc.
 
4,404
307,399
Colony Bankcorp, Inc.
 
2,381
47,144
Columbia Financial, Inc.(b)(c)
 
2,352
47,346
Commercial Bancgroup, Inc.
 
838
24,210
Community Financial System, Inc.(c)
 
4,533
288,480
Community Trust Bancorp, Inc.
 
2,386
159,528
Community West Bancshares, Class B(c)
 
3,408
81,826
ConnectOne Bancorp, Inc.
 
6,255
188,088
Crawford & Co., Class A
 
3,143
32,844
Customers Bancorp, Inc.(b)(c)
 
5,173
388,699
CVB Financial Corp.(c)
 
18,056
367,620
Dave, Inc.(b)(c)
 
2,122
599,592
DigitalBridge Group, Inc.(c)
 
20,539
321,230
Dime Community Bancshares, Inc., Class B(c)
 
2,884
107,919
Donegal Group, Inc., Class A
 
5,090
86,377
Donnelley Financial Solutions, Inc.(b)(c)
 
2,293
91,009
Dynex Capital, Inc.
 
34,348
449,615
Eagle Bancorp Montana, Inc.
 
918
20,370
Eagle Bancorp, Inc.(c)
 
849
23,169
Eagle Financial Services, Inc.
 
787
31,055
Eastern Bankshares, Inc.
 
19,825
391,147
ECB Bancorp, Inc.(b)(c)
 
1,188
21,693
Ellington Financial, Inc.
 
30,402
412,555
Employers Holdings, Inc.
 
2,651
115,318
Enact Holdings, Inc.
 
10,525
439,840
Encore Capital Group, Inc.(b)(c)
 
732
58,509
Enova International, Inc.(b)
 
6,203
1,001,847
Enterprise Financial Services Corp.
 
3,838
232,621
Equity Bancshares, Inc., Class A
 
2,063
95,104
Esquire Financial Holdings, Inc.
 
2,331
256,154
Essent Group Ltd.
 
32,252
1,867,068
EVERTEC, Inc.
 
6,211
151,983
F&G Annuities & Life, Inc.(c)
 
714
19,792
Farmers & Merchants Bancorp, Inc.
 
981
27,399
Farmers National Banc Corp.
 
7,372
104,535
FB Bancorp, Inc.(b)(c)
 
1,992
27,768
FB Financial Corp.(c)
 
4,787
252,227
Federal Agricultural Mortgage Corp.,
Class C(c)
 
593
105,429
Fidelis Insurance Holdings Ltd. (United
Kingdom)
 
6,400
138,112
Fidelity D&D Bancorp, Inc.
 
422
19,712
Financial Institutions, Inc.
 
2,081
75,395
Finward Bancorp
 
634
20,909
Finwise Bancorp(b)(c)
 
1,721
24,748
First Bancorp
 
21,929
525,857
First Bancorp, Inc. (The)
 
1,237
36,009
First Bancorp/Southern Pines NC(c)
 
5,466
321,565
First Bank
 
3,733
58,384
First Busey Corp.(c)
 
9,261
253,474
First Business Financial Services, Inc.
 
1,355
77,940
First Capital, Inc.
 
1,051
64,962
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
First Commonwealth Financial Corp.(c)
 
11,921
$225,784
First Community Bankshares, Inc.
 
1,522
65,613
First Community Corp.
 
1,384
41,603
First Financial Bancorp
 
8,853
272,318
First Financial Bankshares, Inc.
 
9,770
319,284
First Financial Corp.
 
2,432
168,246
First Interstate BancSystem, Inc., Class A(c)
 
7,933
282,415
First Merchants Corp.
 
5,861
236,198
First Mid Bancshares, Inc.
 
2,777
122,327
First National Corp.
 
1,051
29,213
First United Corp.
 
946
37,405
First Western Financial, Inc.(b)(c)
 
1,236
36,054
FirstCash Holdings, Inc.(c)
 
14,309
3,146,692
FirstSun Capital Bancorp(b)(c)
 
1,443
51,154
Five Star Bancorp(c)
 
2,808
118,582
Flagstar Bank N.A
 
21,844
307,127
Flushing Financial Corp.
 
3,938
62,890
Flywire Corp.(b)
 
4,045
64,882
Franklin BSP Realty Trust, Inc.
 
8,811
76,391
Franklin Financial Services Corp.
 
1,280
74,406
FS Bancorp, Inc.(c)
 
772
31,428
Fulton Financial Corp.
 
14,248
309,039
FVCBankcorp, Inc.
 
1,700
26,826
GBank Financial Holdings, Inc.(b)
 
1,308
38,965
GCM Grosvenor, Inc., Class A
 
9,357
99,465
Genworth Financial, Inc., Class A(b)(c)
 
41,346
353,922
German American Bancorp, Inc.(c)
 
4,633
202,555
Glacier Bancorp, Inc.(c)
 
6,190
294,334
Goosehead Insurance, Inc., Class A(b)(c)
 
3,629
124,801
Great Southern Bancorp, Inc.(c)
 
1,061
76,127
Green Dot Corp., Class A(b)
 
8,752
112,638
Greenlight Capital Re Ltd., Class A(b)
 
3,562
55,817
HA Sustainable Infrastructure Capital, Inc.(c)
 
33,461
1,371,901
Hamilton Insurance Group Ltd., Class B
(Bermuda)
 
20,908
619,086
Hancock Whitney Corp.
 
8,448
575,478
Hanmi Financial Corp.
 
5,163
155,510
Hawthorn Bancshares, Inc.
 
904
33,168
HBT Financial, Inc.
 
2,009
57,518
HCI Group, Inc.(c)
 
5,479
844,150
Heritage Financial Corp.(c)
 
3,727
101,561
Heritage Insurance Holdings, Inc.(b)(c)
 
7,201
156,118
Hilltop Holdings, Inc.(c)
 
6,210
234,241
Hingham Institution for Savings (The)(c)
 
220
63,666
Hippo Holdings, Inc.(b)
 
646
16,712
Home Bancorp, Inc.
 
1,318
84,853
Home BancShares, Inc.
 
17,995
481,546
HomeTrust Bancshares, Inc.
 
3,205
148,936
Hope Bancorp, Inc.(c)
 
9,119
114,352
Horace Mann Educators Corp.
 
6,037
276,072
Horizon Bancorp, Inc.
 
5,907
109,575
Independent Bank Corp.(c)
 
5,632
445,379
Independent Bank Corp.(c)
 
2,151
73,822
International Bancshares Corp.(c)
 
7,570
546,251
International Money Express, Inc.(b)(c)
 
2,258
33,802
Invesco Mortgage Capital, Inc.(c)(e)
 
9,961
78,393
Investar Holding Corp.
 
1,325
37,444
Investors Title Co.
 
763
179,114
Jackson Financial, Inc., Class A
 
3,636
374,908
James River Group Holdings, Inc.
 
7,879
30,807
John Marshall Bancorp, Inc.
 
1,307
27,800
Kearny Financial Corp.
 
5,288
43,573
 
Shares
Value
Financials-(continued)
Kingstone Cos., Inc.
 
1,181
$17,561
KKR Real Estate Finance Trust, Inc.(c)
 
4,188
27,934
Ladder Capital Corp.(c)
 
18,255
186,566
Lakeland Financial Corp.(c)
 
2,442
148,058
Landmark Bancorp, Inc.(c)
 
886
25,180
LCNB Corp.
 
1,742
29,684
LendingClub Corp.(b)
 
10,193
181,945
Live Oak Bancshares, Inc.
 
1,570
59,707
loanDepot, Inc.(b)(c)
 
6,747
8,906
MainStreet Bancshares, Inc.
 
648
14,833
Marex Group PLC (United Kingdom)(c)
 
5,958
315,417
Marqeta, Inc., Class A(b)(c)
 
58,994
239,516
Mechanics Bancorp(c)
 
2,594
38,184
Medallion Financial Corp.(c)
 
1,899
18,477
Mercantile Bank Corp.
 
2,197
116,419
Merchants Bancorp(c)
 
3,248
153,111
Mercury General Corp.
 
9,008
883,054
Meridian Corp.
 
1,259
22,637
MetroCity Bankshares, Inc.(c)
 
1,904
62,185
Metropolitan Bank Holding Corp.
 
1,350
120,852
MFA Financial, Inc.(c)
 
12,243
117,533
Miami International Holdings, Inc.(b)
 
5,020
237,195
Mid Penn Bancorp, Inc.(c)
 
2,466
80,515
Midland States Bancorp, Inc.
 
857
23,825
Moelis & Co., Class A
 
16,107
1,083,840
MVB Financial Corp.
 
2,097
56,095
National Bank Holdings Corp., Class A
 
3,305
138,248
National Bankshares, Inc.
 
768
27,026
Navient Corp.
 
4,016
34,377
NB Bancorp, Inc.(c)
 
5,515
110,465
NBT Bancorp, Inc.
 
3,951
182,694
NCR Atleos Corp.(b)
 
2,718
121,223
Nelnet, Inc., Class A
 
1,714
223,797
NerdWallet, Inc., Class A(b)(c)
 
11,153
95,916
NewtekOne, Inc.(c)
 
3,658
50,773
Nicolet Bankshares, Inc.
 
3,001
420,950
NMI Holdings, Inc., Class A(b)
 
27,117
973,500
Northeast Bank(c)
 
998
125,489
Northeast Community Bancorp, Inc.
 
1,416
34,324
Northfield Bancorp, Inc.
 
3,321
47,092
Northpointe Bancshares, Inc.(c)
 
2,347
40,087
Northrim BanCorp, Inc.
 
5,468
135,114
Northwest Bancshares, Inc.(c)
 
13,410
189,751
Norwood Financial Corp.
 
962
29,081
Oak Valley Bancorp
 
1,014
33,371
OceanFirst Financial Corp.(c)
 
7,008
131,680
Octave Specialty Group, Inc.(b)(c)
 
2,049
11,229
OFG Bancorp
 
5,284
240,739
Ohio Valley Banc Corp.
 
1,168
56,122
Old National Bancorp
 
20,228
485,674
Old Second Bancorp, Inc.
 
7,804
166,381
Onity Group, Inc.(b)(c)
 
1,344
46,422
OppFi, Inc.(b)(c)
 
3,416
29,002
Orange County Bancorp, Inc.(c)
 
1,321
45,073
Orchid Island Capital, Inc.
 
21,715
147,228
Origin Bancorp, Inc.
 
4,103
195,549
Orrstown Financial Services, Inc.(c)
 
2,082
77,305
Oscar Health, Inc., Class A(b)
 
4,678
103,992
Palomar Holdings, Inc.(b)(c)
 
8,272
885,435
Park National Corp.(c)
 
1,485
254,767
Parke Bancorp, Inc.
 
1,611
49,506
Pathward Financial, Inc.
 
2,944
242,115
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Patria Investments Ltd., Class A (Cayman
Islands)
 
39,841
$461,757
Payoneer Global, Inc.(b)
 
8,370
43,524
Paysign, Inc.(b)
 
14,179
103,081
PCB Bancorp
 
1,616
39,705
Peapack-Gladstone Financial Corp.(c)
 
934
40,395
PennyMac Financial Services, Inc.
 
6,389
535,845
PennyMac Mortgage Investment Trust(c)
 
20,629
215,779
Peoples Bancorp of North Carolina, Inc.
 
544
22,902
Peoples Bancorp, Inc.
 
3,980
138,424
Peoples Financial Services Corp.
 
897
53,291
Pioneer Bancorp, Inc.(b)(c)
 
2,191
32,712
Piper Sandler Cos.
 
20,148
1,579,805
PJT Partners, Inc., Class A
 
7,318
1,118,922
Plumas Bancorp
 
775
40,788
Ponce Financial Group, Inc.(b)(c)
 
3,558
67,175
PRA Group, Inc.(b)
 
2,314
35,312
Preferred Bank(c)
 
2,186
209,463
Primis Financial Corp.
 
1,632
23,550
Princeton Bancorp, Inc.
 
625
22,525
ProAssurance Corp.(b)(c)
 
13,081
313,813
PROG Holdings, Inc.
 
717
26,364
Provident Financial Services, Inc.
 
12,413
275,444
QCR Holdings, Inc.(c)
 
1,760
162,184
Radian Group, Inc.
 
46,745
1,596,342
RBB Bancorp
 
1,520
36,358
Red River Bancshares, Inc.(c)
 
1,042
94,739
Redwood Trust, Inc.(c)
 
12,246
66,373
Regional Management Corp.
 
1,613
59,294
Remitly Global, Inc.(b)(c)
 
12,314
246,526
Renasant Corp.(c)
 
9,308
379,022
Republic Bancorp, Inc., Class A
 
1,037
83,945
Ridgepost Capital, Inc., Class A
 
4,406
36,482
S&T Bancorp, Inc.(c)
 
5,159
232,619
Safety Insurance Group, Inc.
 
2,683
188,266
SB Financial Group, Inc.
 
755
16,308
Seacoast Banking Corp. of Florida(c)
 
11,030
334,319
Selective Insurance Group, Inc.
 
3,677
318,208
ServisFirst Bancshares, Inc.(c)
 
3,144
245,201
Seven Hills Realty Trust
 
2,033
17,341
Sezzle, Inc.(b)(c)
 
602
71,126
Shore Bancshares, Inc.
 
4,106
84,830
Sierra Bancorp(c)
 
1,734
65,857
Silvercrest Asset Management Group, Inc.,
Class A
 
882
9,993
Simmons First National Corp., Class A(c)
 
7,878
168,983
SiriusPoint Ltd.(b)
 
23,996
512,315
Skyward Specialty Insurance Group, Inc.(b)
 
5,423
239,263
Slide Insurance Holdings, Inc.(b)(c)
 
8,554
154,229
SmartFinancial, Inc.
 
2,326
96,994
South Plains Financial, Inc.(c)
 
2,003
81,302
Southern First Bancshares, Inc.(b)(c)
 
1,289
74,466
Southern Missouri Bancorp, Inc.
 
1,119
77,278
Southside Bancshares, Inc.
 
3,059
100,213
SR Bancorp, Inc.
 
1,488
27,960
Stellar Bancorp, Inc.
 
6,958
259,812
StepStone Group, Inc., Class A(c)
 
799
39,399
Stewart Information Services Corp.
 
5,165
335,622
Stock Yards Bancorp, Inc.(c)
 
2,509
179,996
StoneCo Ltd., Class A (Brazil)(c)
 
8,469
96,970
StoneX Group, Inc.(b)
 
9,050
1,025,817
Sunrise Realty Trust, Inc.
 
1,375
12,237
 
Shares
Value
Financials-(continued)
Texas Capital Bancshares, Inc.
 
4,190
$416,863
Third Coast Bancshares, Inc.(b)(c)
 
1,859
71,125
Timberland Bancorp, Inc.
 
1,324
53,728
Tiptree, Inc.
 
1,757
32,048
Tompkins Financial Corp.(c)
 
1,631
140,511
Towne Bank(c)
 
7,486
255,048
TPG Mortgage Investment Trust, Inc.
 
4,685
36,168
TPG RE Finance Trust, Inc.
 
12,425
104,370
TriCo Bancshares
 
4,283
217,576
Triumph Financial, Inc.(b)(c)
 
604
43,035
Trupanion, Inc.(b)(c)
 
612
13,354
TrustCo Bank Corp.
 
3,860
199,987
Trustmark Corp.
 
7,710
340,474
Two Harbors Investment Corp.
 
13,736
169,365
UMB Financial Corp.
 
3,792
497,738
United Bankshares, Inc.
 
11,654
505,900
United Community Banks, Inc.(c)
 
10,192
335,826
United Fire Group, Inc.
 
4,785
212,119
Unity Bancorp, Inc.
 
1,371
76,584
Universal Insurance Holdings, Inc.
 
9,242
342,139
Univest Financial Corp.
 
4,043
159,456
USCB Financial Holdings, Inc., Class A
 
1,694
31,407
Valley National Bancorp
 
43,949
605,178
Velocity Financial, Inc.(b)
 
1,168
20,440
Victory Capital Holdings, Inc., Class A
 
12,548
1,060,933
Virginia National Bankshares Corp.
 
662
28,724
Virtus Investment Partners, Inc.
 
611
87,391
WaFd, Inc.
 
7,524
267,553
Walker & Dunlop, Inc.
 
1,792
89,940
Washington Trust Bancorp, Inc.(c)
 
1,423
46,347
Waterstone Financial, Inc.
 
2,750
50,902
WesBanco, Inc.
 
8,381
290,402
West Bancorporation, Inc.(c)
 
1,850
44,289
Westamerica Bancorporation
 
3,461
192,051
Western New England Bancorp, Inc.
 
3,788
50,267
Westwood Holdings Group, Inc.
 
1,236
20,345
WisdomTree, Inc.(c)
 
35,218
670,903
World Acceptance Corp.(b)(c)
 
1,408
232,447
WSFS Financial Corp.(c)
 
6,352
453,850
 
 
72,056,224
Health Care-12.97%
10X Genomics, Inc., Class A(b)(c)
 
10,726
303,599
Aardvark Therapeutics, Inc.(b)
 
4,479
18,409
Acadia Pharmaceuticals, Inc.(b)(c)
 
12,154
263,256
AdaptHealth Corp.(b)
 
2,033
20,594
ADMA Biologics, Inc.(b)(c)
 
58,399
466,024
Agios Pharmaceuticals, Inc.(b)(c)
 
2,919
85,819
Alignment Healthcare, Inc.(b)(c)
 
96,877
1,484,156
Alkermes PLC(b)(c)
 
6,769
285,584
Alphatec Holdings, Inc.(b)(c)
 
3,735
28,946
Amneal Pharmaceuticals, Inc.(b)(c)
 
11,909
156,842
Amphastar Pharmaceuticals, Inc.(b)(c)
 
935
17,625
AnaptysBio, Inc.(b)
 
15,256
849,302
Ardelyx, Inc.(b)(c)
 
16,315
98,543
Arrowhead Pharmaceuticals, Inc.(b)(c)
 
51,200
3,988,992
ARS Pharmaceuticals, Inc.(b)(c)
 
3,471
31,482
Artivion, Inc.(b)(c)
 
2,233
49,550
Atea Pharmaceuticals, Inc.(b)(c)
 
9,805
45,789
AtriCure, Inc.(b)(c)
 
4,170
115,384
Aura Biosciences, Inc.(b)(c)
 
2,151
16,068
Aurinia Pharmaceuticals, Inc. (Canada)(b)
 
26,243
402,305
Avanos Medical, Inc.(b)
 
8,284
205,443
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Aveanna Healthcare Holdings, Inc.(b)(c)
 
1,823
$13,071
Axogen, Inc.(b)(c)
 
2,350
92,778
Azenta, Inc.(b)(c)
 
4,933
112,867
Beta Bionics, Inc.(b)
 
17,724
214,815
BioCryst Pharmaceuticals, Inc.(b)(c)
 
7,953
70,861
BioLife Solutions, Inc.(b)(c)
 
1,035
25,792
BridgeBio Pharma, Inc.(b)(c)
 
1,412
93,559
BrightSpring Health Services, Inc.(b)(c)
 
12,836
791,724
Brookdale Senior Living, Inc.(b)
 
4,356
56,062
Butterfly Network, Inc.(b)(c)
 
5,598
25,471
CapsoVision, Inc.(b)(c)
 
2,686
18,211
CareDx, Inc.(b)(c)
 
3,739
85,324
Castle Biosciences, Inc.(b)(c)
 
9,169
193,283
Catalyst Pharmaceuticals, Inc.(b)(c)
 
12,130
378,820
Cogent Biosciences, Inc.(b)(c)
 
1,060
37,058
Collegium Pharmaceutical, Inc.(b)(c)
 
272
9,142
Compass Therapeutics, Inc.(b)
 
27,658
65,826
Concentra Group Holdings Parent, Inc.(c)
 
23,473
583,773
CONMED Corp.(c)
 
303
10,817
CorVel Corp.(b)
 
1,669
103,061
CRISPR Therapeutics AG (Switzerland)(b)
 
798
44,832
Cytek Biosciences, Inc.(b)(c)
 
5,386
22,567
Design Therapeutics, Inc.(b)(c)
 
2,983
31,262
Electromed, Inc.(b)(c)
 
2,570
96,940
Embecta Corp.
 
1,185
4,005
Emergent BioSolutions, Inc.(b)(c)
 
1,225
11,172
Enovis Corp.(b)(c)
 
1,095
24,835
Ensign Group, Inc. (The)(c)
 
8,131
1,363,162
Esperion Therapeutics, Inc.(b)(c)
 
18,221
57,032
Fennec Pharmaceuticals, Inc. (Canada)(b)
 
18,228
181,004
First Tracks Biotherapeutics, Inc.(b)(c)
 
15,141
241,650
Fulcrum Therapeutics, Inc.(b)(c)
 
7,327
50,703
Fulgent Genetics, Inc.(b)(c)
 
5,242
95,090
Gossamer Bio., Inc.(b)(c)
 
57,126
13,190
GRAIL, Inc.(b)(c)
 
3,682
263,926
Haemonetics Corp.(b)
 
1,934
131,145
Harmony Biosciences Holdings, Inc.(b)
 
9,303
293,882
HealthEquity, Inc.(b)
 
1,917
168,677
HealthStream, Inc.
 
3,241
80,928
Hims & Hers Health, Inc.(b)(c)
 
37,247
974,009
ICU Medical, Inc.(b)(c)
 
547
74,058
Indivior Pharmaceuticals, Inc.(b)
 
142,500
5,132,850
Innovage Holding Corp.(b)(c)
 
4,639
35,210
Innoviva, Inc.(b)
 
8,915
190,959
Inogen, Inc.(b)
 
3,333
21,631
Integer Holdings Corp.(b)(c)
 
215
19,217
Intellia Therapeutics, Inc.(b)(c)
 
2,907
40,901
iRadimed Corp.(c)
 
6,053
548,765
IRhythm Holdings, Inc.(b)(c)
 
69
7,859
Jade Biosciences, Inc.(b)(c)
 
1,916
40,313
Keros Therapeutics, Inc.(b)
 
982
11,047
Krystal Biotech, Inc.(b)(c)
 
6,037
1,865,614
Kura Oncology, Inc.(b)(c)
 
24,734
252,287
Lantheus Holdings, Inc.(b)
 
2,590
257,187
LB Pharmaceuticals, Inc.(b)(c)
 
3,697
103,405
LENSAR, Inc.(b)(c)
 
5,544
32,155
LifeStance Health Group, Inc.(b)
 
6,079
46,869
Ligand Pharmaceuticals, Inc.(b)(c)
 
4,418
1,024,799
LivaNova PLC(b)(c)
 
3,021
222,950
Maze Therapeutics, Inc.(b)(c)
 
11,966
316,620
Merit Medical Systems, Inc.(b)
 
594
37,458
Metsera, Inc.(b)(c)(f)
 
483
0
 
Shares
Value
Health Care-(continued)
MiMedx Group, Inc.(b)
 
3,999
$14,716
Mineralys Therapeutics, Inc.(b)(c)
 
3,405
107,257
Mirum Pharmaceuticals, Inc.(b)
 
2,591
262,986
Monte Rosa Therapeutics, Inc.(b)(c)
 
9,928
195,681
National HealthCare Corp.(c)
 
1,812
334,169
Novo Nordisk A/S (Denmark)(b)(f)
 
4,621
0
NRC Health(c)
 
1,854
36,209
Omnicell, Inc.(b)(c)
 
983
43,390
Oncology Institute, Inc. (The)(b)
 
10,614
49,780
OptimizeRx Corp.(b)(c)
 
2,057
10,676
Option Care Health, Inc.(b)(c)
 
24,665
514,759
Organogenesis Holdings, Inc.(b)(c)
 
23,993
61,662
Pacira BioSciences, Inc.(b)(c)
 
4,288
99,567
Pediatrix Medical Group, Inc.(b)(c)
 
14,554
313,493
Pennant Group, Inc. (The)(b)
 
1,795
61,479
Phibro Animal Health Corp., Class A
 
492
15,149
Phreesia, Inc.(b)
 
3,374
33,268
Precigen, Inc.(b)(c)
 
34,157
148,241
Prestige Consumer Healthcare, Inc.(b)
 
737
35,030
Prime Medicine, Inc.(b)(c)
 
8,299
29,461
Privia Health Group, Inc.(b)(c)
 
8,434
181,415
Progyny, Inc.(b)(c)
 
93,323
2,385,336
Protagonist Therapeutics, Inc.(b)(c)
 
24,660
2,455,150
Protara Therapeutics, Inc.(b)(c)
 
3,365
15,647
Prothena Corp. PLC (Ireland)(b)(c)
 
1,653
16,828
PTC Therapeutics, Inc.(b)
 
1,292
95,414
Puma Biotechnology, Inc.(b)(c)
 
4,661
33,419
QuidelOrtho Corp.(b)(c)
 
512
6,666
RadNet, Inc.(b)(c)
 
1,050
58,306
REGENXBIO, Inc.(b)(c)
 
8,417
59,003
Relay Therapeutics, Inc.(b)(c)
 
2,630
36,951
Rigel Pharmaceuticals, Inc.(b)(c)
 
3,561
108,575
Schrodinger, Inc.(b)(c)
 
2,299
34,945
Select Medical Holdings Corp.
 
1,832
30,228
SIGA Technologies, Inc.(c)
 
11,514
53,886
STAAR Surgical Co., (Acquired 06/27/2025 -
05/26/2026; Cost $65,672)(b)(c)(g)
 
2,778
83,034
Strata Critical Medical, Inc.(b)(c)
 
17,826
112,482
Supernus Pharmaceuticals, Inc.(b)
 
11,921
550,512
Tactile Systems Technology, Inc.(b)(c)
 
9,290
228,627
Talkspace, Inc.(b)(c)
 
29,551
153,665
Tandem Diabetes Care, Inc.(b)(c)
 
1,058
18,198
Tango Therapeutics, Inc.(b)(c)
 
5,036
110,691
Teladoc Health, Inc.(b)(c)
 
5,391
41,026
TransMedics Group, Inc.(b)(c)
 
1,902
127,814
TruBridge, Inc.(b)
 
852
22,118
Twist Bioscience Corp.(b)(c)
 
1,138
76,098
Utah Medical Products, Inc.
 
581
38,607
Veracyte, Inc.(b)(c)
 
7,284
337,541
Vericel Corp.(b)(c)
 
1,372
45,729
Viemed Healthcare, Inc.(b)
 
3,094
30,445
Vir Biotechnology, Inc.(b)(c)
 
16,897
161,197
Xenon Pharmaceuticals, Inc. (Canada)(b)
 
5,504
301,234
Xeris Biopharma Holdings, Inc.(b)
 
4,111
25,324
 
 
36,751,276
Industrials-18.97%
AAR Corp.(b)(c)
 
3,184
358,582
ABM Industries, Inc.
 
819
31,990
ACV Auctions, Inc., Class A(b)(c)
 
1,706
11,208
Aebi Schmidt Holding AG (Switzerland)
 
2,453
30,613
AeroVironment, Inc.(b)(c)
 
336
69,633
Alamo Group, Inc.(c)
 
1,042
157,040
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
Albany International Corp., Class A
 
1,573
$101,757
Allegiant Travel Co.(b)(c)
 
410
37,560
Alliance Laundry Holdings, Inc.(b)(c)
 
824
20,806
Allient, Inc.(c)
 
666
52,721
Ameresco, Inc., Class A(b)(c)
 
637
22,919
American Superconductor Corp.(b)(c)
 
2,527
128,725
Amprius Technologies, Inc.(b)(c)
 
2,552
51,755
ArcBest Corp.(c)
 
691
94,453
Arcosa, Inc.(c)
 
330
41,828
Argan, Inc.
 
6,663
4,444,354
Astec Industries, Inc.(c)
 
1,189
59,878
Astronics Corp.(b)(c)
 
6,285
546,795
Atkore, Inc.
 
845
69,974
Atmus Filtration Technologies, Inc.
 
1,450
67,831
AZZ, Inc.(c)
 
390
52,849
Barrett Business Services, Inc.
 
3,700
120,398
Bloom Energy Corp., Class A(b)
 
1,093
311,505
Blue Bird Corp.(b)(c)
 
5,355
362,908
Boise Cascade Co.
 
1,523
106,184
Brink’s Co. (The)(c)
 
1,827
190,045
Brookfield Business Corp. (Canada)
 
594
19,501
Byrna Technologies, Inc.(b)(c)
 
1,653
10,315
Casella Waste Systems, Inc., Class A(b)(c)
 
442
36,319
Chart Industries, Inc.(b)
 
1,155
240,032
Cimpress PLC (Ireland)(b)(c)
 
711
70,076
CoreCivic, Inc.(b)
 
2,870
60,500
Costamare Bulkers Holdings Ltd. (Monaco)(b)
 
1,736
28,019
Costamare, Inc. (Monaco)(c)
 
6,858
105,476
CRA International, Inc.
 
1,715
237,956
CSW Industrials, Inc.(c)
 
237
65,642
Deluxe Corp.
 
972
23,610
DNOW, Inc.(b)(c)
 
7,303
93,405
Douglas Dynamics, Inc.(c)
 
1,608
71,636
Ducommun, Inc.(b)(c)
 
684
104,118
Dycom Industries, Inc.(b)
 
895
456,450
Energy Recovery, Inc.(b)(c)
 
9,917
81,022
Enerpac Tool Group Corp.
 
2,973
99,566
EnerSys
 
672
153,196
Ennis, Inc.(c)
 
7,145
146,187
Enpro, Inc.
 
601
184,501
Enviri Corp.(b)(c)
 
17,294
358,851
ESCO Technologies, Inc.(c)
 
2,604
760,108
Exponent, Inc.
 
4,241
247,335
Federal Signal Corp.(c)
 
9,554
1,019,412
Forward Air Corp.(b)(c)
 
1,403
14,844
Franklin Electric Co., Inc.
 
4,767
468,977
GATX Corp.(c)
 
442
74,733
Genco Shipping & Trading Ltd.
 
14,808
356,280
Gencor Industries, Inc.(b)
 
1,005
14,181
Gibraltar Industries, Inc.(b)(c)
 
1,409
54,458
Global Industrial Co.
 
4,865
147,896
Gorman-Rupp Co. (The)(c)
 
1,099
82,370
Graham Corp.(b)(c)
 
3,047
305,127
Granite Construction, Inc.(c)
 
6,935
948,985
Griffon Corp.
 
3,132
275,553
Healthcare Services Group, Inc.(b)(c)
 
15,584
321,030
Helios Technologies, Inc.
 
1,640
136,268
Herc Holdings, Inc.
 
242
32,186
Hertz Global Holdings, Inc.(b)(c)
 
3,141
16,961
Hillman Solutions Corp.(b)
 
3,398
25,349
Himalaya Shipping Ltd. (Bermuda)(b)(c)
 
3,036
44,781
HNI Corp.
 
5,277
164,590
 
Shares
Value
Industrials-(continued)
Hub Group, Inc., Class A
 
2,176
$90,391
Hudson Technologies, Inc.(b)
 
6,036
32,112
Huron Consulting Group, Inc.(b)
 
3,380
362,978
Hyster-Yale, Inc.
 
408
14,819
IBEX Holdings Ltd.(b)
 
12,938
409,358
ICF International, Inc.
 
349
24,025
IES Holdings, Inc.(b)(c)
 
555
376,484
Innodata, Inc.(b)(c)
 
4,374
459,183
Insteel Industries, Inc.(c)
 
4,820
132,502
Interface, Inc.
 
7,649
226,410
JBT Marel Corp.
 
1,744
234,376
Kadant, Inc.(c)
 
191
60,963
Karat Packaging, Inc.(c)
 
943
25,574
Kennametal, Inc.(c)
 
2,680
87,904
Korn Ferry(c)
 
5,112
357,738
Kratos Defense & Security Solutions, Inc.(b)
 
1,843
118,192
LB Foster Co., Class A(b)(c)
 
625
25,713
Legalzoom.com, Inc.(b)(c)
 
75,231
473,203
Legence Corp., Class A(b)(c)
 
2,344
196,287
Lindsay Corp.(c)
 
2,211
241,640
Liquidity Services, Inc.(b)
 
6,566
237,755
LSI Industries, Inc.(c)
 
5,252
127,256
Luxfer Holdings PLC (United Kingdom)
 
2,972
50,613
Matson, Inc.(c)
 
2,787
505,283
Maximus, Inc.(c)
 
5,975
370,032
Mayville Engineering Co., Inc.(b)(c)
 
2,888
77,543
McGrath RentCorp
 
3,479
379,176
Mercury Systems, Inc.(b)(c)
 
4,459
498,070
MillerKnoll, Inc.
 
825
13,349
Mistras Group, Inc.(b)(c)
 
1,465
25,755
Modine Manufacturing Co.(b)(c)
 
3,520
981,763
Moog, Inc., Class A(c)
 
709
255,219
Mueller Water Products, Inc., Class A
 
10,079
254,092
MYR Group, Inc.(b)(c)
 
1,303
605,973
National Presto Industries, Inc.(c)
 
1,260
159,478
Nextpower, Inc., Class A(b)(c)
 
35,578
5,564,399
NWPX Infrastructure, Inc.(b)(c)
 
3,276
386,437
OPENLANE, Inc.(b)(c)
 
28,179
1,073,620
Orion Group Holdings, Inc.(b)(c)
 
3,771
51,889
Park Aerospace Corp.(c)
 
18,169
579,046
Planet Labs PBC(b)(c)
 
86,625
4,430,003
Powell Industries, Inc.(c)
 
3,632
1,033,013
Preformed Line Products Co.(c)
 
787
291,048
Primoris Services Corp.(c)
 
8,638
1,086,488
Proto Labs, Inc.(b)(c)
 
6,598
499,864
Resideo Technologies, Inc.(b)(c)
 
883
27,611
Resolute Holdings Management, Inc.(b)(c)
 
1,502
178,708
Resources Connection, Inc.(c)
 
6,395
28,905
Rush Enterprises, Inc., Class A(c)
 
500
34,665
Safe Bulkers, Inc. (Monaco)
 
3,147
19,669
Shoals Technologies Group, Inc., Class A(b)(c)
 
2,971
36,989
SkyWest, Inc.(b)
 
1,414
121,109
SPX Technologies, Inc.(b)(c)
 
3,295
713,895
Sterling Infrastructure, Inc.(b)(c)
 
6,115
5,264,037
Sunrun, Inc.(b)(c)
 
8,115
135,683
Tecnoglass, Inc.(c)
 
1,338
57,654
Tennant Co.
 
609
52,441
Titan Machinery, Inc.(b)(c)
 
1,153
25,158
Trinity Industries, Inc.(c)
 
850
27,574
Tutor Perini Corp.
 
27,115
1,938,451
UFP Industries, Inc.
 
1,310
106,110
UniFirst Corp.
 
1,738
461,300
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
Upwork, Inc.(b)(c)
 
17,799
$156,987
V2X, Inc.(b)(c)
 
1,411
117,296
Verra Mobility Corp., Class A(b)
 
9,264
41,781
Vicor Corp.(b)(c)
 
3,080
1,031,307
Watts Water Technologies, Inc., Class A
 
7,814
2,414,370
Werner Enterprises, Inc.(c)
 
1,051
43,627
Willdan Group, Inc.(b)(c)
 
5,583
507,160
Worthington Enterprises, Inc.
 
2,937
166,733
Xometry, Inc., Class A(b)(c)
 
372
35,448
Zurn Elkay Water Solutions Corp.
 
17,180
807,460
 
 
53,741,257
Information Technology-12.17%
A10 Networks, Inc.(c)
 
6,453
194,493
ACI Worldwide, Inc.(b)(c)
 
6,733
294,030
ACM Research, Inc., Class A(b)
 
11,111
961,768
Adeia, Inc.(c)
 
2,653
70,888
ADTRAN Holdings, Inc.(b)(c)
 
9,406
155,669
Advanced Energy Industries, Inc.
 
268
80,984
Aeva Technologies, Inc.(b)(c)
 
6,103
171,983
Agilysys, Inc.(b)(c)
 
149
12,897
Alarm.com Holdings, Inc.(b)(c)
 
936
42,223
Alkami Technology, Inc.(b)(c)
 
2,381
43,263
Alpha & Omega Semiconductor Ltd.(b)
 
595
26,983
Ambarella, Inc.(b)(c)
 
2,865
206,796
Appian Corp., Class A(b)(c)
 
694
16,240
Arlo Technologies, Inc.(b)(c)
 
15,331
204,516
AvePoint, Inc.(b)
 
6,153
67,129
Axcelis Technologies, Inc.(b)(c)
 
1,291
194,179
Badger Meter, Inc.(c)
 
4,497
557,178
Belden, Inc.(c)
 
429
45,079
Benchmark Electronics, Inc.
 
2,097
177,113
BK Technologies Corp.(b)(c)
 
1,500
123,825
Blackbaud, Inc.(b)(c)
 
1,641
50,362
BlackLine, Inc.(b)(c)
 
4,741
139,385
Blend Labs, Inc., Class A(b)(c)
 
5,689
10,183
Box, Inc., Class A(b)(c)
 
4,907
132,293
Braze, Inc., Class A(b)(c)
 
1,925
49,338
Calix, Inc.(b)(c)
 
846
33,628
CEVA, Inc.(b)(c)
 
764
30,545
Clear Secure, Inc., Class A
 
53,467
2,964,745
Clearfield, Inc.(b)(c)
 
1,958
92,457
Clearwater Analytics Holdings, Inc.,
Class A(b)(c)
 
37,834
920,880
Climb Global Solutions, Inc.(c)
 
691
14,960
Commvault Systems, Inc.(b)(c)
 
1,906
226,337
Credo Technology Group Holding Ltd.(b)
 
13,940
3,290,258
Crexendo, Inc.(b)
 
4,338
42,859
CTS Corp.
 
1,032
66,265
Daktronics, Inc.(b)(c)
 
3,457
71,491
Diebold Nixdorf, Inc.(b)(c)
 
1,671
135,585
Digi International, Inc.(b)(c)
 
3,613
241,348
DigitalOcean Holdings, Inc.(b)(c)
 
979
152,675
Diodes, Inc.(b)(c)
 
526
55,398
Eastman Kodak Co.(b)(c)
 
1,987
19,711
eGain Corp.(b)(c)
 
6,255
46,475
ePlus, Inc.(c)
 
814
66,821
Everforth, Inc.(b)
 
348
7,893
Evolv Technologies Holdings, Inc.(b)
 
24,270
156,541
Extreme Networks, Inc.(b)
 
9,349
247,842
Fabrinet (Thailand)(b)
 
2,561
1,675,304
Fastly, Inc., Class A(b)(c)
 
1,807
32,101
FormFactor, Inc.(b)(c)
 
14,708
1,832,470
 
Shares
Value
Information Technology-(continued)
Frequency Electronics, Inc.(b)(c)
 
4,506
$341,915
Freshworks, Inc., Class A(b)(c)
 
9,839
95,537
Hackett Group, Inc. (The)
 
915
10,550
Harmonic, Inc.(b)(c)
 
6,180
93,380
i3 Verticals, Inc., Class A(b)(c)
 
4,667
95,020
Information Services Group, Inc.
 
6,556
29,568
Intapp, Inc.(b)
 
1,060
24,475
InterDigital, Inc.
 
11,524
2,905,085
Itron, Inc.(b)(c)
 
1,396
115,142
Kimball Electronics, Inc.(b)(c)
 
3,966
102,838
Knowles Corp.(b)(c)
 
13,397
501,182
Kulicke & Soffa Industries, Inc. (Singapore)
 
6,547
667,074
Life360, Inc.(b)(c)
 
272
11,557
LiveRamp Holdings, Inc.(b)(c)
 
9,641
362,116
MARA Holdings, Inc.(b)(c)
 
2,805
40,336
Mirion Technologies, Inc.(b)(c)
 
7,298
133,407
Napco Security Technologies, Inc.
 
16,903
634,370
NETGEAR, Inc.(b)(c)
 
3,643
94,682
NetScout Systems, Inc.(b)(c)
 
19,032
792,112
nLight, Inc.(b)(c)
 
14,034
1,040,200
NVE Corp.
 
813
79,625
OneSpan, Inc.(c)
 
2,059
29,732
Ooma, Inc.(b)
 
4,804
84,791
OSI Systems, Inc.(b)(c)
 
530
114,877
Ouster, Inc.(b)(c)
 
2,065
95,093
PDF Solutions, Inc.(b)(c)
 
1,825
89,115
Penguin Solutions, Inc.(b)(c)
 
1,368
76,375
Photronics, Inc.(b)(c)
 
2,262
73,176
Plexus Corp.(b)(c)
 
2,017
541,282
Power Integrations, Inc.
 
1,334
112,056
Q2 Holdings, Inc.(b)
 
374
17,709
Qualys, Inc.(b)
 
3,406
372,242
Rambus, Inc.(b)(c)
 
26,078
3,793,306
Red Violet, Inc.(b)(c)
 
7,434
422,549
Riot Platforms, Inc.(b)(c)
 
7,811
211,756
Rogers Corp.(b)
 
1,033
146,190
Sanmina Corp.(b)(c)
 
2,631
683,350
ScanSource, Inc.(b)(c)
 
326
15,084
Silicon Laboratories, Inc.(b)(c)
 
1,406
305,946
SiTime Corp.(b)
 
1,308
928,942
Sprinklr, Inc., Class A(b)
 
15,329
85,536
SPS Commerce, Inc.(b)
 
262
14,868
Tenable Holdings, Inc.(b)
 
1,652
46,636
Terawulf, Inc.(b)(c)
 
921
23,541
TTM Technologies, Inc.(b)
 
4,519
785,041
Ultra Clean Holdings, Inc.(b)
 
626
53,567
Veeco Instruments, Inc.(b)(c)
 
920
53,029
Viasat, Inc.(b)(c)
 
3,922
316,192
Viavi Solutions, Inc.(b)(c)
 
4,530
219,977
Vishay Precision Group, Inc.(b)(c)
 
1,206
151,124
Workiva, Inc.(b)
 
155
7,716
Yext, Inc.(b)(c)
 
1,719
7,185
 
 
34,501,540
Materials-2.53%
Alpha Metallurgical Resources, Inc.(b)
 
144
28,652
Ardagh Metal Packaging S.A.
 
10,786
43,468
Ascent Industries Co.(b)(c)
 
2,812
38,103
Avient Corp.(c)
 
1,273
45,090
Balchem Corp.
 
3,973
622,688
Cabot Corp.
 
699
61,170
Caledonia Mining Corp. PLC (South Africa)
 
14,421
342,643
Coeur Mining, Inc.
 
35,433
684,566
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Materials-(continued)
Commercial Metals Co.(c)
 
3,933
$299,105
Compass Minerals International, Inc.(b)
 
1,395
44,528
Constellium SE(b)
 
3,896
133,477
Dakota Gold Corp.(b)(c)
 
4,118
23,720
Ecovyst, Inc.(b)
 
4,783
63,088
Ferroglobe PLC
 
27,610
119,551
Greif, Inc., Class A(c)
 
291
18,429
H.B. Fuller Co.(c)
 
541
34,667
Hawkins, Inc.
 
903
139,757
Hecla Mining Co.(c)
 
48,121
855,110
Idaho Strategic Resources, Inc.(b)(c)
 
1,171
45,798
Ingevity Corp.(b)(c)
 
2,209
149,814
Innospec, Inc.
 
1,079
89,492
Intrepid Potash, Inc.(b)
 
1,681
65,677
Kaiser Aluminum Corp.
 
286
52,063
Knife River Corp.(b)(c)
 
447
35,094
Materion Corp.
 
1,155
254,146
Mativ Holdings, Inc., Class A
 
1,314
11,668
Metallus, Inc.(b)(c)
 
1,671
32,835
Minerals Technologies, Inc.
 
454
34,967
Novagold Resources, Inc. (Canada)(b)
 
2,659
22,788
O-I Glass, Inc.(b)(c)
 
5,393
47,189
Perimeter Solutions, Inc.(b)
 
26,909
868,623
Perpetua Resources Corp.(b)
 
10,375
280,851
Quaker Chemical Corp.
 
455
65,306
Ramaco Resources, Inc., Class A(b)(c)
 
4,025
62,830
Sensient Technologies Corp.
 
4,305
490,124
Smith-Midland Corp.(b)
 
392
12,564
SSR Mining, Inc. (Canada)(b)
 
1,765
55,103
Sylvamo Corp.(c)
 
2,070
81,289
Titan America S.A. (Belgium)(b)
 
1,416
23,038
TriMas Corp.(c)
 
2,101
85,994
U.S. Gold Corp.(b)(c)
 
839
13,541
United States Antimony Corp.(b)(c)
 
23,804
213,760
United States Lime & Minerals, Inc.
 
1,726
196,747
Vox Royalty Corp. (Canada)(c)
 
20,137
117,600
Warrior Met Coal, Inc.(c)
 
1,541
145,686
Worthington Steel, Inc.
 
669
28,225
 
 
7,180,624
Real Estate-10.90%
Acadia Realty Trust(c)
 
12,617
277,826
Alexander’s, Inc.(c)
 
796
195,904
Alpine Income Property Trust, Inc.
 
2,434
46,903
American Assets Trust, Inc.
 
5,509
128,360
American Healthcare REIT, Inc.(c)
 
24,905
1,217,605
Apple Hospitality REIT, Inc.
 
35,321
518,866
Armada Hoffler Properties, Inc.(c)
 
5,429
36,972
Broadstone Net Lease, Inc.(c)
 
64,392
1,302,650
CareTrust REIT, Inc.(c)
 
84,059
3,431,288
CBL & Associates Properties, Inc.
 
5,680
273,151
Centerspace
 
2,072
139,819
Chatham Lodging Trust
 
3,244
35,197
Chiron Real Estate, Inc.(c)
 
1,419
51,141
Community Healthcare Trust, Inc.
 
2,538
43,704
COPT Defense Properties(c)
 
25,568
819,710
CTO Realty Growth, Inc.
 
3,757
77,206
Curbline Properties Corp.(c)
 
17,384
506,396
Cushman & Wakefield Ltd.(b)(c)
 
43,232
537,806
DiamondRock Hospitality Co.
 
34,135
375,144
Douglas Emmett, Inc.(c)
 
7,471
86,962
Easterly Government Properties, Inc.(c)
 
4,155
99,637
Empire State Realty Trust, Inc., Class A(c)
 
8,434
48,327
 
Shares
Value
Real Estate-(continued)
Essential Properties Realty Trust, Inc.
 
41,151
$1,258,398
Farmland Partners, Inc.(c)
 
12,837
131,836
Forestar Group, Inc.(b)(c)
 
6,243
171,495
Four Corners Property Trust, Inc.(c)
 
25,822
642,968
FRP Holdings, Inc.(b)(c)
 
1,186
27,408
Getty Realty Corp.(c)
 
15,973
519,602
Gladstone Commercial Corp.(c)
 
5,201
65,585
Gladstone Land Corp.(c)
 
5,167
48,983
Global Net Lease, Inc.(c)
 
21,548
201,905
Independence Realty Trust, Inc.
 
20,102
326,255
Industrial Logistics Properties Trust
 
9,905
88,848
Innovative Industrial Properties, Inc.(c)
 
5,062
293,545
InvenTrust Properties Corp.(c)
 
1,937
64,173
JBG SMITH Properties(c)
 
4,624
67,834
Kennedy-Wilson Holdings, Inc.
 
14,909
164,148
Kite Realty Group Trust(c)
 
17,297
474,284
LTC Properties, Inc.(c)
 
20,295
759,236
LXP Industrial Trust(c)
 
13,507
697,501
Macerich Co. (The)(c)
 
5,307
119,514
Marcus & Millichap, Inc.(c)
 
1,089
30,753
Modiv Industrial, Inc.
 
1,518
27,567
National Health Investors, Inc.(c)
 
21,305
1,561,443
NETSTREIT Corp.(c)
 
17,955
363,768
Newmark Group, Inc., Class A
 
35,058
489,760
NexPoint Residential Trust, Inc.(c)
 
1,654
48,065
One Liberty Properties, Inc.(c)
 
3,631
85,510
Outfront Media, Inc.
 
61,032
1,967,672
Pebblebrook Hotel Trust(c)
 
7,700
117,425
Phillips Edison & Co., Inc.
 
15,140
607,871
Piedmont Realty Trust, Inc., Class A(b)(c)
 
7,023
58,361
Postal Realty Trust, Inc., Class A
 
7,261
167,293
RLJ Lodging Trust(c)
 
12,779
124,340
RMR Group, Inc. (The), Class A(c)
 
2,464
49,157
Ryman Hospitality Properties, Inc.(c)
 
11,372
1,309,258
Sabra Health Care REIT, Inc.
 
57,316
1,140,015
Safehold, Inc.
 
4,545
68,039
Saul Centers, Inc.
 
2,042
70,776
Sila Realty Trust, Inc.(c)
 
13,028
393,967
SITE Centers Corp.
 
17,132
86,517
SL Green Realty Corp.(c)
 
3,037
137,880
SmartStop Self Storage REIT, Inc.
 
3,467
108,344
St. Joe Co. (The)
 
19,229
1,223,541
Stratus Properties, Inc.(b)
 
1,022
29,224
Strawberry Fields REIT, Inc.
 
1,399
18,355
Summit Hotel Properties, Inc.
 
10,384
59,916
Sunstone Hotel Investors, Inc.(c)
 
17,134
185,390
Tanger, Inc.(c)
 
26,549
957,622
Tejon Ranch Co.(b)(c)
 
3,990
77,127
Terreno Realty Corp.(c)
 
24,600
1,615,974
Transcontinental Realty Investors, Inc.(b)(c)
 
886
34,341
UMH Properties, Inc.(c)
 
10,764
161,675
Universal Health Realty Income Trust(c)
 
5,366
222,421
Urban Edge Properties
 
20,740
465,406
Whitestone REIT
 
12,511
238,710
Xenia Hotels & Resorts, Inc.
 
11,501
199,772
 
 
30,877,347
Utilities-1.18%
American States Water Co.
 
883
68,229
Avista Corp.
 
3,929
162,936
Black Hills Corp.(c)
 
1,839
133,916
Brookfield Infrastructure Corp. (Canada)(c)
 
7,515
312,098
California Water Service Group(c)
 
2,601
117,305
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Utilities-(continued)
Chesapeake Utilities Corp.
 
1,057
$130,349
Consolidated Water Co. Ltd.(c)
 
2,453
74,032
Genie Energy Ltd., Class B
 
2,290
31,785
H2O America(c)
 
744
43,026
Hallador Energy Co.(b)(c)
 
3,081
59,340
Hawaiian Electric Industries, Inc.(b)(c)
 
24,671
328,124
MGE Energy, Inc.
 
1,230
92,865
Middlesex Water Co.(c)
 
733
38,505
New Jersey Resources Corp.(c)
 
3,165
174,866
Northwest Natural Holding Co.
 
1,339
64,928
NorthWestern Energy Group, Inc.(c)
 
2,868
202,510
ONE Gas, Inc.(c)
 
951
73,931
Ormat Technologies, Inc.(c)
 
2,858
392,203
Otter Tail Corp.(c)
 
1,619
140,303
Portland General Electric Co.
 
3,468
173,816
Pure Cycle Corp.(b)
 
2,655
27,479
Southwest Gas Holdings, Inc.
 
1,963
169,230
Spire, Inc.
 
1,707
140,418
TXNM Energy, Inc.
 
2,545
150,689
Unitil Corp.
 
328
16,410
York Water Co. (The)(c)
 
557
16,654
 
 
3,335,947
Total Common Stocks & Other Equity Interests
(Cost $238,383,877)
283,070,150
 
Shares
Value
Money Market Funds-0.06%
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(e)(h)
(Cost $165,073)
 
165,073
$165,073
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.96%
(Cost $238,548,950)
283,235,223
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-33.13%
Invesco Private Government Fund,
3.58%(e)(h)(i)
 
26,083,702
26,083,702
Invesco Private Prime Fund, 3.75%(e)(h)(i)
 
67,766,146
67,779,699
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $93,862,045)
93,863,401
TOTAL INVESTMENTS IN SECURITIES-133.09%
(Cost $332,410,995)
377,098,624
OTHER ASSETS LESS LIABILITIES-(33.09)%
(93,749,507
)
NET ASSETS-100.00%
$283,349,117
Investment Abbreviations:
REIT
-Real Estate Investment Trust
Notes to Schedule of Investments:
(a)
Industry and/or sector classifications used in this report are generally according to the Global Industry Classification Standard, which was developed by and is
the exclusive property and a service mark of MSCI Inc. and Standard & Poor’s.
(b)
Non-income producing security.
(c)
All or a portion of this security was out on loan at May 31, 2026.
(d)
Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be
resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The value of this security at May 31, 2026
represented less than 1% of the Fund’s Net Assets.
(e)
Affiliated holding. Affiliated holdings are investments in entities which are under common ownership or control of Invesco Ltd. or are investments in entities in
which the Fund owns 5% or more of the outstanding voting securities. The table below shows the Fund’s transactions in, and earnings from, its investments in
affiliates for the nine months ended May 31, 2026.
 
Value
August 31, 2025
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
May 31, 2026
Dividend Income
Invesco Mortgage Capital,
Inc.
$45,559
$137,680
$(108,704
)
$1,562
$2,296
$78,393
$20,071
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
111,299
8,054,577
(8,000,803
)
-
-
165,073
5,900
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
16,927,485
74,232,520
(65,076,303
)
-
-
26,083,702
638,614
*
Invesco Private Prime Fund
43,996,033
150,105,733
(126,316,205
)
(2,080
)
(3,782
)
67,779,699
1,725,818
*
Total
$61,080,376
$232,530,510
$(199,502,015
)
$(518
)
$(1,486
)
$94,106,867
$2,390,403
*
Represents the income earned on the investment of cash collateral. Does not include rebates and fees paid to lending agent or premiums received from
borrowers, if any.
See accompanying notes which are an integral part of this schedule.

Invesco Russell 2000® Dynamic Multifactor ETF (OMFS)—(continued)
May 31, 2026
(Unaudited)
(f)
Security valued using significant unobservable inputs (Level 3). See Note1.
(g)
Restricted security. The value of this security at May 31, 2026 represented less than 1% of the Fund’s Net Assets.
(h)
The rate shown is the 7-day SEC standardized yield as of May 31, 2026.
(i)
The security has been segregated to satisfy the commitment to return the cash collateral received in securities lending transactions upon the borrower’s return
of the securities loaned.
The valuation policy and a listing of other significant accounting policies are available in the most recent shareholder report.
See accompanying notes which are an integral part of this schedule.

Notes to Quarterly Schedules of Portfolio Holdings
May 31, 2026
(Unaudited)
NOTE 1—Additional Valuation Information
Generally Accepted Accounting Principles ("GAAP") defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods, giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3), generally when market prices are not readily available. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investment’s assigned level:
Level 1 — Prices are determined using quoted prices in an active market for identical assets.
Level 2 — Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. When market movements occur after the close of the relevant foreign securities markets, foreign securities may be fair valued utilizing an independent pricing service.
Level 3 — Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect Invesco Capital Management LLC’s assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information.
The following is a summary of the tiered valuation input levels, as of May 31, 2026. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
 
Level 1
Level 2
Level 3
Total
Invesco International Developed Dynamic Multifactor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$38,581,186
$967,705,421
$-
$1,006,286,607
Money Market Funds
208,348
44,110,986
-
44,319,334
Total Investments
$38,789,534
$1,011,816,407
$-
$1,050,605,941
Invesco Russell 1000® Dynamic Multifactor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$4,739,468,087
$-
$0
$4,739,468,087
Money Market Funds
193,287
88,646,086
-
88,839,373
Total Investments
$4,739,661,374
$88,646,086
$0
$4,828,307,460
Invesco Russell 2000® Dynamic Multifactor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$283,070,150
$-
$0
$283,070,150
Money Market Funds
165,073
93,863,401
-
94,028,474
Total Investments
$283,235,223
$93,863,401
$0
$377,098,624