Schedule of Investments(a)
Invesco Bloomberg Pricing Power ETF (POWA)
May 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.93%
Communication Services-2.07%
Meta Platforms, Inc., Class A
 
5,790
$3,662,233
Consumer Discretionary-12.23%
AutoZone, Inc.(b)
 
994
2,917,579
Best Buy Co., Inc.
 
55,662
4,338,853
Home Depot, Inc. (The)
 
9,711
3,079,747
Lowe’s Cos., Inc.
 
13,201
2,829,766
O’Reilly Automotive, Inc.(b)
 
40,154
3,488,579
Tractor Supply Co.
 
70,881
2,234,878
Ulta Beauty, Inc.(b)
 
5,401
2,748,299
 
 
21,637,701
Consumer Staples-15.68%
Archer-Daniels-Midland Co.
 
55,162
4,400,824
Brown-Forman Corp., Class B(c)
 
126,593
3,255,972
Costco Wholesale Corp.
 
3,740
3,576,637
Hormel Foods Corp.
 
152,136
3,534,119
PepsiCo, Inc.
 
22,655
3,266,625
Sysco Corp.
 
41,714
3,162,338
US Foods Holding Corp.(b)
 
38,557
3,155,890
Walmart, Inc.
 
29,413
3,404,555
 
 
27,756,960
Financials-4.30%
Fidelity National Information Services, Inc.
 
76,664
3,295,785
MSCI, Inc.
 
6,830
4,312,326
 
 
7,608,111
Health Care-17.71%
Boston Scientific Corp.(b)
 
48,823
2,358,639
Cardinal Health, Inc.
 
16,554
3,257,827
Cencora, Inc.
 
10,339
2,784,913
Cooper Cos., Inc. (The)(b)
 
44,656
2,733,394
McKesson Corp.
 
3,932
2,919,274
Mettler-Toledo International, Inc.(b)
 
2,706
3,194,650
Neurocrine Biosciences, Inc.(b)(c)
 
29,011
4,592,441
Regeneron Pharmaceuticals, Inc.
 
4,703
2,891,310
Waters Corp.(b)
 
11,371
4,361,575
Zoetis, Inc.
 
28,839
2,240,502
 
 
31,334,525
Industrials-20.34%
AMETEK, Inc.
 
15,895
3,589,886
Cummins, Inc.
 
6,281
4,061,483
Fastenal Co.
 
81,000
3,580,200
Ferguson Enterprises, Inc.
 
14,325
3,237,020
General Dynamics Corp.
 
10,657
3,696,061
HEICO Corp.
 
10,883
3,789,243
Otis Worldwide Corp.
 
40,145
2,843,872
Quanta Services, Inc.
 
7,171
5,103,816
 
Shares
Value
Industrials-(continued)
Rollins, Inc.
 
61,814
$2,942,346
Xylem, Inc.
 
28,816
3,156,504
 
 
36,000,431
Information Technology-25.20%
Accenture PLC, Class A
 
16,656
3,115,838
Adobe, Inc.(b)
 
14,152
3,668,340
Applied Materials, Inc.
 
10,086
4,539,305
Autodesk, Inc.(b)
 
16,212
3,749,998
Gartner, Inc.(b)
 
23,097
3,746,333
GoDaddy, Inc., Class A(b)
 
41,126
3,529,844
Jabil, Inc.
 
14,296
5,211,750
KLA Corp.
 
2,517
4,836,943
Microsoft Corp.
 
9,320
4,196,237
Roper Technologies, Inc.
 
11,368
3,700,625
ServiceNow, Inc.(b)
 
34,545
4,296,362
 
 
44,591,575
Real Estate-2.40%
Lamar Advertising Co., Class A
 
27,851
4,246,164
Total Common Stocks & Other Equity Interests
(Cost $164,595,834)
176,837,700
Money Market Funds-0.02%
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(d)(e)
(Cost $32,311)
 
32,311
32,311
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.95%
(Cost $164,628,145)
176,870,011
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-1.91%
Invesco Private Government Fund,
3.58%(d)(e)(f)
 
941,733
941,733
Invesco Private Prime Fund, 3.75%(d)(e)(f)
 
2,442,793
2,443,282
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $3,385,007)
3,385,015
TOTAL INVESTMENTS IN SECURITIES-101.86%
(Cost $168,013,152)
180,255,026
OTHER ASSETS LESS LIABILITIES-(1.86)%
(3,284,786
)
NET ASSETS-100.00%
$176,970,240
 
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)
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.
See accompanying notes which are an integral part of this schedule.
Invesco Bloomberg Pricing Power ETF (POWA)—(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 in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
$152,543
$2,946,213
$(3,066,445
)
$-
$-
$32,311
$2,754
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private
Government Fund
8,820
72,200,658
(71,267,745
)
-
-
941,733
73,813
*
Invesco Private Prime Fund
7,993,424
136,704,224
(142,253,443
)
(150
)
(773
)
2,443,282
198,966
*
Total
$8,154,787
$211,851,095
$(216,587,633
)
$(150
)
$(773
)
$3,417,326
$275,533
 
*
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 RAFITM Strategic US ETF (IUS)
May 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.82%
Communication Services-13.96%
Alphabet, Inc., Class A, (Acquired
10/04/2021 - 05/28/2026;
Cost $29,830,483)(b)
 
165,013
$62,761,044
AT&T, Inc.
 
256,748
6,367,350
Charter Communications, Inc., Class A(c)
 
3,472
500,142
Comcast Corp., Class A
 
188,782
4,695,008
EchoStar Corp., Class A(c)(d)
 
23,396
3,022,529
Electronic Arts, Inc.
 
3,736
753,626
Fox Corp., Class A(d)
 
11,594
741,089
GCI Liberty, Inc., Class C(c)(d)
 
388
8,680
Liberty Broadband Corp., Class C(c)
 
1,898
64,077
Liberty Global Ltd., Class A (Belgium)(c)(d)
 
73,598
920,711
Liberty Media Corp.-Liberty Formula One(c)
 
2,089
189,660
Live Nation Entertainment, Inc.(c)
 
1,620
272,824
Lumen Technologies, Inc.(c)
 
96,762
1,063,414
Match Group, Inc.
 
6,880
248,574
Meta Platforms, Inc., Class A
 
25,912
16,389,599
Netflix, Inc.(c)
 
19,333
1,663,025
News Corp., Class A
 
12,750
332,775
Nexstar Media Group, Inc., Class A
 
1,436
256,226
Omnicom Group, Inc.
 
5,829
423,827
Paramount Skydance Corp.(d)
 
63,311
671,730
Pinterest, Inc., Class A(c)
 
8,185
164,109
Sirius XM Holdings, Inc.(d)
 
11,720
345,974
Telephone and Data Systems, Inc.
 
6,092
238,258
T-Mobile US, Inc.
 
8,876
1,664,516
Trade Desk, Inc. (The), Class A(c)(d)
 
2,408
51,916
Verizon Communications, Inc.
 
164,312
7,855,757
Versant Media Group, Inc.
 
7,552
325,793
Walt Disney Co. (The)
 
38,185
3,888,379
Warner Bros. Discovery, Inc.(c)
 
158,096
4,270,173
 
 
120,150,785
Consumer Discretionary-10.43%
Adient PLC(c)
 
15,894
363,337
Airbnb, Inc., Class A(c)
 
7,426
989,960
Amazon.com, Inc.(c)
 
81,186
21,972,179
Aptiv PLC(c)(d)
 
13,449
913,725
Aramark
 
7,726
412,414
Asbury Automotive Group, Inc.(c)
 
1,209
226,941
Autoliv, Inc. (Sweden)
 
3,020
383,902
AutoNation, Inc.(c)
 
1,607
301,666
AutoZone, Inc.(c)
 
173
507,788
Bath & Body Works, Inc.
 
5,449
109,089
Best Buy Co., Inc.
 
9,886
770,614
Booking Holdings, Inc.
 
9,107
1,524,785
BorgWarner, Inc.
 
12,406
890,999
Burlington Stores, Inc.(c)
 
871
282,056
Caesars Entertainment, Inc.(c)(d)
 
9,437
274,145
CarMax, Inc.(c)(d)
 
7,177
320,238
Carnival Corp. Ltd.
 
32,031
898,790
Carvana Co.(c)(d)
 
3,109
226,957
Chewy, Inc., Class A(c)
 
5,228
117,839
Chipotle Mexican Grill, Inc.(c)
 
8,337
265,617
Coupang, Inc. (South Korea)(c)
 
14,312
237,579
Crocs, Inc.(c)(d)
 
1,589
188,567
D.R. Horton, Inc.
 
9,510
1,398,826
Darden Restaurants, Inc.
 
1,975
402,722
Deckers Outdoor Corp.(c)
 
1,715
195,253
Dick’s Sporting Goods, Inc.(d)
 
2,100
477,897
DoorDash, Inc., Class A(c)
 
1,723
274,457
eBay, Inc.
 
11,020
1,204,155
 
Shares
Value
Consumer Discretionary-(continued)
Expedia Group, Inc.
 
3,746
$845,809
Flutter Entertainment PLC (Ireland)(c)(d)
 
1,457
141,300
Ford Motor Co.
 
392,301
6,841,729
Gap, Inc. (The)(d)
 
8,459
178,908
Garmin Ltd.
 
1,567
366,553
General Motors Co.
 
119,252
9,926,536
Genuine Parts Co.
 
3,993
394,109
Goodyear Tire & Rubber Co. (The)(c)(d)
 
28,952
176,607
Group 1 Automotive, Inc.
 
647
204,672
Harley-Davidson, Inc.
 
10,212
246,926
Hilton Worldwide Holdings, Inc.
 
2,300
753,618
Home Depot, Inc. (The)
 
12,075
3,829,465
Hyatt Hotels Corp., Class A
 
2,290
415,314
KB Home(d)
 
4,046
197,688
Kohl’s Corp.
 
38,006
545,766
Las Vegas Sands Corp.
 
16,362
827,426
Lear Corp.
 
5,095
729,196
Lennar Corp., Class A
 
12,484
1,120,814
Lithia Motors, Inc., Class A(d)
 
1,608
467,751
LKQ Corp.
 
9,624
261,003
Lowe’s Cos., Inc.
 
9,142
1,959,679
lululemon athletica, Inc.(c)
 
1,483
194,540
Macy’s, Inc.
 
35,016
761,948
Marriott International, Inc., Class A
 
3,336
1,253,002
Mattel, Inc.(c)(d)
 
10,404
155,436
McDonald’s Corp.
 
5,963
1,664,870
MercadoLibre, Inc. (Brazil)(c)
 
318
539,217
MGM Resorts International(c)
 
14,560
635,835
Mohawk Industries, Inc.(c)
 
2,588
278,003
Murphy USA, Inc.
 
642
324,871
Newell Brands, Inc.
 
34,776
118,238
NIKE, Inc., Class B
 
32,801
1,516,390
Norwegian Cruise Line Holdings Ltd.(c)(d)
 
13,413
245,994
NVR, Inc.(c)
 
63
384,602
O’Reilly Automotive, Inc.(c)
 
7,136
619,976
Pool Corp.
 
578
104,849
PulteGroup, Inc.
 
6,314
746,189
PVH Corp.
 
3,675
342,804
Ralph Lauren Corp.
 
1,025
372,998
Ross Stores, Inc.
 
4,404
1,020,539
Royal Caribbean Cruises Ltd.
 
2,296
653,510
Service Corp. International
 
2,624
197,299
Signet Jewelers Ltd.(d)
 
3,704
323,693
Starbucks Corp.
 
13,606
1,349,171
Tapestry, Inc.
 
4,281
622,714
Taylor Morrison Home Corp., Class A(c)
 
3,743
218,966
Tesla, Inc.(c)
 
7,908
3,446,227
Thor Industries, Inc.(d)
 
2,749
217,391
TJX Cos., Inc. (The)
 
12,729
1,969,813
Toll Brothers, Inc.
 
3,812
528,114
TopBuild Corp.(c)
 
824
344,004
Tractor Supply Co.
 
8,031
253,217
Ulta Beauty, Inc.(c)
 
950
483,408
V.F. Corp.
 
13,331
229,027
Versigent PLC(c)(d)
 
4,495
198,319
Whirlpool Corp.(d)
 
4,119
178,847
Williams-Sonoma, Inc.
 
1,862
379,047
Wynn Resorts Ltd.
 
1,892
191,508
Yum! Brands, Inc.
 
1,285
190,116
 
 
89,818,058
Consumer Staples-6.91%
Albertson’s Cos., Inc., Class A(d)
 
36,438
568,797
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Consumer Staples-(continued)
Altria Group, Inc.
 
34,833
$2,423,680
Andersons, Inc. (The)(d)
 
5,024
354,644
Archer-Daniels-Midland Co.
 
42,408
3,383,310
BJ’s Wholesale Club Holdings, Inc.(c)(d)
 
2,799
238,699
Brown-Forman Corp., Class B(d)
 
6,243
160,570
Bunge Global S.A.
 
12,982
1,600,681
Campbell’s Co. (The)(d)
 
6,157
129,974
Casey’s General Stores, Inc.
 
642
492,504
Church & Dwight Co., Inc.
 
2,831
270,728
Clorox Co. (The)
 
1,695
152,584
Coca-Cola Co. (The)
 
38,482
3,040,463
Colgate-Palmolive Co.
 
10,198
919,146
Conagra Brands, Inc.
 
22,113
293,661
Constellation Brands, Inc., Class A
 
2,963
411,324
Costco Wholesale Corp.
 
4,858
4,645,802
Darling Ingredients, Inc.(c)
 
5,922
349,990
Dollar General Corp.
 
8,922
986,862
Dollar Tree, Inc.(c)
 
7,245
843,608
Estee Lauder Cos., Inc. (The), Class A
 
7,908
703,417
General Mills, Inc.(d)
 
18,234
616,491
Hershey Co. (The)
 
3,465
672,314
Hormel Foods Corp.
 
13,995
325,104
Ingredion, Inc.(d)
 
1,885
191,214
J.M. Smucker Co. (The)
 
3,448
355,834
Kenvue, Inc.
 
29,370
507,514
Keurig Dr Pepper, Inc.
 
27,194
816,636
Kimberly-Clark Corp.
 
5,571
543,730
Kraft Heinz Co. (The)
 
65,217
1,565,860
Kroger Co. (The)
 
35,627
2,214,218
Lamb Weston Holdings, Inc.
 
3,792
163,739
Maplebear, Inc.(c)
 
5,400
214,920
McCormick & Co., Inc.
 
4,030
190,901
Molson Coors Beverage Co., Class B
 
10,653
421,113
Mondelez International, Inc., Class A
 
27,849
1,703,523
Monster Beverage Corp.(c)
 
8,472
746,214
PepsiCo, Inc.
 
24,842
3,581,968
Performance Food Group Co.(c)
 
8,637
848,067
Philip Morris International, Inc. (Switzerland)
 
12,292
2,180,355
Post Holdings, Inc.(c)(d)
 
2,193
201,405
Procter & Gamble Co. (The)
 
31,393
4,506,779
Sysco Corp.
 
18,688
1,416,737
Target Corp.
 
23,014
2,924,389
Tyson Foods, Inc., Class A
 
20,088
1,225,770
United Natural Foods, Inc.(c)
 
11,799
605,879
US Foods Holding Corp.(c)
 
8,266
676,572
Walmart, Inc.
 
69,874
8,087,915
 
 
59,475,605
Energy-9.74%
Antero Resources Corp.(c)
 
5,624
201,058
APA Corp.
 
27,927
1,017,381
Baker Hughes Co., Class A
 
26,081
1,666,054
Cheniere Energy, Inc.
 
4,224
949,809
Chevron Corp.
 
75,250
13,730,047
Chord Energy Corp.
 
4,508
594,470
ConocoPhillips
 
45,521
5,188,484
Delek US Holdings, Inc.(d)
 
9,876
439,581
Devon Energy Corp.
 
27,233
1,211,596
Diamondback Energy, Inc.
 
5,806
1,111,733
EOG Resources, Inc.
 
19,634
2,618,783
Expand Energy Corp.
 
3,634
337,889
Exxon Mobil Corp.
 
149,748
21,752,394
Halliburton Co.
 
41,967
1,630,418
 
Shares
Value
Energy-(continued)
HF Sinclair Corp.
 
18,814
$1,314,910
Kinder Morgan, Inc.
 
46,393
1,441,894
Marathon Petroleum Corp.
 
24,034
5,978,938
Matador Resources Co.(d)
 
6,077
325,727
Murphy Oil Corp.
 
13,721
496,563
Northern Oil and Gas, Inc.(d)
 
6,470
140,852
NOV, Inc.
 
23,500
469,060
Occidental Petroleum Corp.
 
42,337
2,397,544
ONEOK, Inc.
 
13,556
1,137,891
Ovintiv, Inc.
 
18,017
1,009,673
Patterson-UTI Energy, Inc.
 
39,525
443,075
PBF Energy, Inc., Class A
 
18,205
740,944
Peabody Energy Corp.(d)
 
12,975
350,974
Permian Resources Corp.
 
26,664
512,749
Phillips 66
 
24,900
4,379,412
SLB Ltd.
 
46,299
2,525,610
SM Energy Co.
 
10,029
307,991
Targa Resources Corp.
 
3,715
947,585
TechnipFMC PLC (United Kingdom)
 
9,301
636,374
Valero Energy Corp.
 
21,826
5,343,441
World Kinect Corp.(d)
 
18,165
523,334
 
 
83,874,238
Financials-6.71%
Affiliated Managers Group, Inc.
 
1,249
378,260
Allstate Corp. (The)
 
7,930
1,634,294
American Express Co.
 
10,407
3,293,503
American Financial Group, Inc.
 
2,428
315,154
Aon PLC, Class A
 
1,980
625,799
Arch Capital Group Ltd.(c)
 
11,137
994,980
Assurant, Inc.
 
1,799
447,717
Berkshire Hathaway, Inc., Class B(c)
 
35,681
16,929,921
Blackstone, Inc., Class A
 
8,089
946,170
Block, Inc., Class A(c)
 
13,138
994,809
Brown & Brown, Inc.
 
1,951
109,744
Cboe Global Markets, Inc.
 
1,257
419,285
Chubb Ltd.
 
10,817
3,371,983
Cincinnati Financial Corp.
 
3,874
609,845
Corpay, Inc.(c)
 
1,110
401,598
Everest Group Ltd.
 
1,810
586,494
Fidelity National Information Services, Inc.
 
14,461
621,678
First American Financial Corp.
 
3,658
242,269
Fiserv, Inc.(c)
 
11,125
629,230
Franklin Resources, Inc.
 
12,177
377,731
Hartford Insurance Group, Inc. (The)
 
9,156
1,164,002
Invesco Ltd.(e)
 
28,262
804,337
Janus Henderson Group PLC
 
5,481
283,423
LPL Financial Holdings, Inc.
 
701
191,913
Markel Group, Inc.(c)
 
381
691,740
Marsh & McLennan Cos., Inc.
 
4,889
782,093
Mastercard, Inc., Class A
 
5,178
2,557,828
Moody’s Corp.
 
1,116
505,827
MSCI, Inc.
 
456
287,909
Nasdaq, Inc.
 
4,242
392,470
NU Holdings Ltd., Class A (Brazil)(c)
 
28,147
369,570
Old Republic International Corp.
 
10,970
408,413
OneMain Holdings, Inc.
 
7,266
401,883
PayPal Holdings, Inc.
 
26,938
1,205,476
Progressive Corp. (The)
 
8,425
1,604,120
RenaissanceRe Holdings Ltd. (Bermuda)
 
2,300
644,805
S&P Global, Inc.
 
3,211
1,361,464
Selective Insurance Group, Inc.
 
2,052
177,580
StoneX Group, Inc.(c)(d)
 
14,550
1,649,243
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
T. Rowe Price Group, Inc.
 
5,627
$588,190
TPG, Inc.(d)
 
3,822
162,703
TPG, Inc.(c)(f)
 
5,323
0
Tradeweb Markets, Inc., Class A
 
1,372
137,543
Travelers Cos., Inc. (The)
 
6,535
1,907,501
Visa, Inc., Class A
 
14,323
4,674,454
W.R. Berkley Corp.
 
6,876
436,901
Willis Towers Watson PLC
 
1,673
417,698
 
 
57,739,550
Health Care-12.42%
Abbott Laboratories
 
17,460
1,494,576
AbbVie, Inc.
 
19,990
4,352,223
Agilent Technologies, Inc.
 
4,148
562,178
Align Technology, Inc.(c)
 
1,056
184,747
Amgen, Inc.
 
6,372
2,146,026
Avantor, Inc.(c)
 
16,741
152,678
Baxter International, Inc.
 
12,446
233,736
Becton, Dickinson and Co.
 
6,593
969,962
Biogen, Inc.(c)
 
4,296
842,016
Bio-Rad Laboratories, Inc., Class A(c)(d)
 
822
256,859
Boston Scientific Corp.(c)
 
7,145
345,175
Bristol-Myers Squibb Co.
 
56,063
3,205,682
Cardinal Health, Inc.
 
16,809
3,308,011
Cencora, Inc.
 
11,465
3,088,212
Centene Corp.(c)
 
41,412
2,468,155
Charles River Laboratories International,
Inc.(c)
 
1,249
225,707
Cigna Group (The)
 
14,808
4,107,739
Cooper Cos., Inc. (The)(c)
 
2,784
170,409
CVS Health Corp.
 
104,476
9,505,226
Danaher Corp.
 
10,628
1,941,417
DaVita, Inc.(c)
 
2,947
572,779
Dexcom, Inc.(c)
 
2,834
208,979
Edwards Lifesciences Corp.(c)
 
4,864
420,590
Elanco Animal Health, Inc.(c)(d)
 
14,829
353,672
Elevance Health, Inc.
 
8,339
3,278,811
Eli Lilly and Co.
 
2,236
2,470,780
GE HealthCare Technologies, Inc.
 
6,820
425,159
Gilead Sciences, Inc.
 
19,302
2,594,768
HCA Healthcare, Inc.
 
4,083
1,545,579
Henry Schein, Inc.(c)
 
3,583
274,386
Humana, Inc.
 
6,877
2,100,373
IDEXX Laboratories, Inc.(c)
 
428
241,191
Illumina, Inc.(c)
 
2,150
350,364
Incyte Corp.(c)
 
5,446
526,846
Intuitive Surgical, Inc.(c)
 
947
402,134
IQVIA Holdings, Inc.(c)
 
4,091
745,421
Jazz Pharmaceuticals PLC(c)
 
2,185
516,731
Johnson & Johnson
 
38,550
8,686,472
Labcorp Holdings, Inc.
 
1,961
509,978
McKesson Corp.
 
5,783
4,293,531
Medtronic PLC
 
31,369
2,315,346
Merck & Co., Inc.
 
51,946
6,167,029
Mettler-Toledo International, Inc.(c)
 
175
206,602
Molina Healthcare, Inc.(c)(d)
 
1,862
323,243
Pfizer, Inc.
 
186,930
4,893,827
Quest Diagnostics, Inc.
 
2,176
424,102
Regeneron Pharmaceuticals, Inc.
 
2,252
1,384,485
ResMed, Inc.
 
1,182
225,254
STERIS PLC
 
1,138
242,087
Stryker Corp.
 
2,460
750,521
Teleflex, Inc.
 
1,503
193,346
 
Shares
Value
Health Care-(continued)
Tenet Healthcare Corp.(c)
 
3,204
$561,725
Thermo Fisher Scientific, Inc.
 
5,844
2,878,228
United Therapeutics Corp.(c)
 
1,036
576,866
UnitedHealth Group, Inc.
 
30,818
11,720,394
Universal Health Services, Inc., Class B
 
2,337
341,459
Veeva Systems, Inc., Class A(c)
 
766
133,544
Vertex Pharmaceuticals, Inc.(c)
 
1,343
601,046
Viatris, Inc.
 
87,240
1,418,522
Waters Corp.(c)
 
900
345,213
West Pharmaceutical Services, Inc.
 
991
319,905
Zimmer Biomet Holdings, Inc.
 
5,653
465,411
Zoetis, Inc.
 
4,226
328,318
 
 
106,895,751
Industrials-9.45%
3M Co.
 
6,852
1,049,247
A.O. Smith Corp.
 
2,618
148,493
AECOM
 
3,089
214,284
AGCO Corp.
 
2,495
280,139
AMETEK, Inc.
 
2,225
502,516
API Group Corp.(c)
 
6,690
274,290
Automatic Data Processing, Inc.
 
3,330
738,727
Avis Budget Group, Inc.(c)(d)
 
4,042
710,745
Boise Cascade Co.
 
2,185
152,338
Booz Allen Hamilton Holding Corp.
 
2,234
176,888
Broadridge Financial Solutions, Inc.
 
1,133
174,165
Builders FirstSource, Inc.(c)
 
4,738
361,320
C.H. Robinson Worldwide, Inc.
 
2,813
502,542
CACI International, Inc., Class A(c)
 
415
213,107
Carlisle Cos., Inc.
 
953
328,604
Carrier Global Corp.
 
9,623
614,621
Caterpillar, Inc.
 
9,545
8,360,179
Cintas Corp.
 
1,988
340,465
CNH Industrial N.V.(d)
 
21,861
223,201
Copart, Inc.(c)
 
4,173
136,749
Core & Main, Inc., Class A(c)
 
5,057
250,069
CSX Corp.
 
37,840
1,712,638
Cummins, Inc.
 
2,388
1,544,152
Deere & Co.
 
4,230
2,293,421
Delta Air Lines, Inc.
 
6,895
568,700
Dover Corp.
 
1,861
393,341
Eaton Corp. PLC
 
3,892
1,559,135
EMCOR Group, Inc.
 
707
584,562
Emerson Electric Co.
 
8,228
1,183,351
Equifax, Inc.(d)
 
938
155,511
Expeditors International of Washington, Inc.
 
2,951
466,228
Fastenal Co.
 
8,633
381,579
FedEx Corp.
 
9,946
4,095,265
Ferguson Enterprises, Inc.
 
3,889
878,797
Fluor Corp.(c)
 
6,739
308,377
Fortive Corp.
 
6,105
356,044
Fortune Brands Innovations, Inc.
 
3,344
130,215
General Dynamics Corp.
 
5,058
1,754,216
General Electric Co.
 
8,998
2,913,192
GXO Logistics, Inc.(c)(d)
 
4,907
245,890
Hertz Global Holdings, Inc.(c)(d)
 
60,511
326,759
Honeywell International, Inc.
 
8,602
2,046,072
Howmet Aerospace, Inc.
 
1,919
495,582
Hubbell, Inc.
 
553
261,906
Huntington Ingalls Industries, Inc.
 
1,205
371,345
Illinois Tool Works, Inc.
 
3,474
859,051
Ingersoll Rand, Inc.
 
4,665
334,201
J.B. Hunt Transport Services, Inc.
 
2,064
570,552
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
Jacobs Solutions, Inc.
 
2,814
$337,286
Johnson Controls International PLC
 
10,057
1,348,241
Knight-Swift Transportation Holdings, Inc.
 
5,835
441,301
L3Harris Technologies, Inc.
 
3,852
1,214,073
Leidos Holdings, Inc.
 
2,472
315,922
Lockheed Martin Corp.
 
5,331
2,827,829
ManpowerGroup, Inc.
 
6,361
201,198
Masco Corp.
 
4,181
293,715
MasTec, Inc.(c)
 
1,240
469,179
Norfolk Southern Corp.
 
3,130
954,525
Northrop Grumman Corp.
 
3,020
1,702,314
Old Dominion Freight Line, Inc.
 
1,986
447,148
Oshkosh Corp.
 
2,173
282,490
Otis Worldwide Corp.
 
3,781
267,846
Owens Corning
 
2,990
376,202
PACCAR, Inc.
 
13,030
1,438,121
Parker-Hannifin Corp.
 
1,216
1,027,070
Paychex, Inc.
 
2,599
252,051
Pentair PLC
 
1,799
127,441
Quanta Services, Inc.
 
1,535
1,092,506
Regal Rexnord Corp.
 
1,677
338,352
Republic Services, Inc.
 
2,050
410,902
Rockwell Automation, Inc.
 
1,206
543,978
RTX Corp.
 
28,975
5,205,648
Ryder System, Inc.
 
2,545
638,413
Science Applications International Corp.
 
1,716
178,807
Snap-on, Inc.
 
949
352,278
Stanley Black & Decker, Inc.
 
6,149
488,354
Textron, Inc.
 
6,360
583,594
Trane Technologies PLC
 
1,807
815,499
TransDigm Group, Inc.
 
400
503,328
TransUnion
 
2,006
143,549
Uber Technologies, Inc.(c)
 
13,192
928,717
UFP Industries, Inc.
 
2,020
163,620
Union Pacific Corp.
 
7,551
1,983,195
United Airlines Holdings, Inc.(c)
 
4,317
495,592
United Parcel Service, Inc., Class B
 
27,756
2,961,288
United Rentals, Inc.
 
1,206
1,200,778
Verisk Analytics, Inc.
 
850
148,741
Vertiv Holdings Co., Class A
 
2,508
791,801
W.W. Grainger, Inc.
 
510
629,462
Waste Connections, Inc.
 
2,245
334,550
Waste Management, Inc.
 
4,242
897,013
Watsco, Inc.
 
466
171,069
WESCO International, Inc.
 
2,566
926,762
Westinghouse Air Brake Technologies Corp.
 
2,618
683,717
Xylem, Inc.
 
3,117
341,436
ZIM Integrated Shipping Services Ltd.
(Israel)(d)
 
20,778
488,075
 
 
81,307,747
Information Technology-25.32%
Accenture PLC, Class A
 
8,988
1,681,385
Adobe, Inc.(c)
 
5,144
1,333,376
Advanced Micro Devices, Inc.(c)
 
14,014
7,232,625
Akamai Technologies, Inc.(c)
 
4,106
614,011
Amdocs Ltd.
 
2,921
183,935
Amkor Technology, Inc.
 
11,163
776,498
Amphenol Corp., Class A
 
7,651
1,138,163
Apple, Inc.
 
133,819
41,759,557
Applied Materials, Inc.
 
11,213
5,046,523
AppLovin Corp., Class A(c)
 
892
546,876
Arista Networks, Inc.(c)
 
4,315
688,113
 
Shares
Value
Information Technology-(continued)
Arrow Electronics, Inc.(c)
 
4,295
$921,836
Autodesk, Inc.(c)
 
1,054
243,801
Avnet, Inc.
 
8,272
719,085
Broadcom, Inc.
 
24,562
10,973,565
Cadence Design Systems, Inc.(c)
 
975
365,557
CDW Corp.
 
2,472
310,112
Cisco Systems, Inc.
 
63,622
7,661,361
Cognizant Technology Solutions Corp.,
Class A
 
9,419
525,156
Coherent Corp.(c)
 
2,436
880,541
Corning, Inc.
 
12,273
2,223,377
Dell Technologies, Inc., Class C
 
15,401
6,482,435
DocuSign, Inc.(c)
 
2,404
126,258
Dropbox, Inc., Class A(c)(d)
 
7,576
203,643
DXC Technology Co.(c)(d)
 
22,556
223,530
EPAM Systems, Inc.(c)(d)
 
1,080
110,657
F5, Inc.(c)
 
705
270,332
First Solar, Inc.(c)
 
1,236
379,192
Flex Ltd.(c)
 
15,611
2,353,827
Fortinet, Inc.(c)
 
2,710
373,899
Gartner, Inc.(c)
 
595
96,509
Gen Digital, Inc.
 
10,490
270,537
GoDaddy, Inc., Class A(c)
 
1,462
125,483
Hewlett Packard Enterprise Co.
 
64,634
2,781,847
HP, Inc.
 
37,791
1,021,869
Insight Enterprises, Inc.(c)
 
1,370
145,741
Intel Corp.(c)
 
159,024
18,236,872
International Business Machines Corp.
 
11,076
3,298,433
Intuit, Inc.
 
2,089
692,566
Jabil, Inc.
 
4,287
1,562,869
Keysight Technologies, Inc.(c)
 
1,797
607,979
KLA Corp.
 
1,002
1,925,553
Kyndryl Holdings, Inc.(c)
 
5,679
70,817
Lam Research Corp.
 
13,934
4,433,520
Marvell Technology, Inc.
 
8,872
1,818,760
Microchip Technology, Inc.
 
8,283
783,986
Micron Technology, Inc.
 
17,571
17,061,441
Microsoft Corp.
 
46,423
20,901,492
Motorola Solutions, Inc.
 
1,056
425,864
NetApp, Inc.
 
3,973
692,454
NVIDIA Corp.
 
77,067
16,271,926
Okta, Inc.(c)(d)
 
1,542
190,082
ON Semiconductor Corp.(c)
 
10,209
1,231,410
Oracle Corp.
 
11,121
2,510,899
Palo Alto Networks, Inc.(c)
 
2,439
687,042
Qnity Electronics, Inc.
 
6,360
992,160
Qorvo, Inc.(c)
 
2,668
276,298
QUALCOMM, Inc.
 
19,241
4,829,876
Ralliant Corp.
 
2,034
125,844
Roper Technologies, Inc.
 
987
321,298
Salesforce, Inc.
 
12,104
2,313,074
Seagate Technology Holdings PLC
 
1,793
1,577,481
ServiceNow, Inc.(c)
 
3,557
442,384
Skyworks Solutions, Inc.
 
4,849
377,495
Snowflake, Inc., Class A(c)
 
2,274
581,121
SS&C Technologies Holdings, Inc.
 
4,169
281,491
Synopsys, Inc.(c)
 
680
323,422
TD SYNNEX Corp.
 
6,711
1,753,450
TE Connectivity PLC (Switzerland)
 
5,868
1,252,290
Teledyne Technologies, Inc.(c)
 
649
402,270
Texas Instruments, Inc.
 
8,604
2,630,071
Trimble, Inc.(c)
 
2,789
157,328
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
May 31, 2026
(Unaudited)
 
Shares
Value
Information Technology-(continued)
Twilio, Inc., Class A(c)
 
4,000
$762,560
VeriSign, Inc.
 
674
192,346
Western Digital Corp.
 
6,322
3,358,310
Workday, Inc., Class A(c)
 
2,026
296,181
Zoom Communications, Inc., Class A(c)
 
5,072
515,264
 
 
217,957,191
Materials-3.47%
Air Products and Chemicals, Inc.
 
3,061
852,856
Albemarle Corp.
 
5,322
938,907
Alcoa Corp.
 
8,231
639,055
Amcor PLC
 
8,629
334,978
Avery Dennison Corp.
 
1,408
223,971
Ball Corp.
 
8,241
450,535
Celanese Corp.(d)
 
6,799
361,231
CF Industries Holdings, Inc.
 
6,072
682,189
Cleveland-Cliffs, Inc.(c)(d)
 
64,281
874,222
Commercial Metals Co.
 
5,323
404,814
Corteva, Inc.
 
14,280
1,117,838
Crown Holdings, Inc.
 
3,059
290,850
Dow, Inc.
 
45,987
1,552,061
DuPont de Nemours, Inc.
 
12,721
615,951
Eastman Chemical Co.
 
4,395
333,449
Ecolab, Inc.
 
2,412
617,472
FMC Corp.(d)
 
4,746
64,830
Freeport-McMoRan, Inc.
 
30,591
2,010,135
Graphic Packaging Holding Co.(d)
 
10,439
117,543
International Flavors & Fragrances, Inc.
 
6,985
531,209
International Paper Co.
 
11,086
371,048
Linde PLC
 
5,703
2,838,326
LyondellBasell Industries N.V., Class A
 
15,425
1,028,076
Martin Marietta Materials, Inc.
 
712
414,128
Mosaic Co. (The)
 
15,029
359,193
Newmont Corp.
 
25,898
2,843,859
Nucor Corp.
 
11,958
2,989,500
Olin Corp.(d)
 
10,486
271,273
Packaging Corp. of America
 
1,569
343,470
PPG Industries, Inc.
 
5,234
591,337
Reliance, Inc.
 
1,784
679,294
RPM International, Inc.
 
2,010
213,000
Sherwin-Williams Co. (The)
 
2,341
711,289
Solstice Advanced Materials, Inc.
 
2,138
180,084
Sonoco Products Co.
 
3,977
193,600
Steel Dynamics, Inc.
 
5,010
1,303,351
Ternium S.A., ADR (Mexico)
 
23,710
1,144,008
Vulcan Materials Co.
 
1,377
389,581
 
 
29,878,513
Real Estate-0.45%
CBRE Group, Inc., Class A(c)
 
4,858
607,444
CoStar Group, Inc.(c)
 
2,486
80,049
Equinix, Inc.
 
710
758,309
Host Hotels & Resorts, Inc.
 
19,399
445,789
 
Shares
Value
Real Estate-(continued)
Iron Mountain, Inc.
 
3,026
$388,085
Jones Lang LaSalle, Inc.(c)
 
1,555
438,992
Public Storage
 
2,068
628,031
SBA Communications Corp., Class A
 
1,020
207,223
Weyerhaeuser Co.
 
11,732
287,551
 
 
3,841,473
Utilities-0.96%
AES Corp. (The)
 
35,127
515,313
CMS Energy Corp.
 
6,178
448,337
Consolidated Edison, Inc.
 
8,802
929,755
Constellation Energy Corp.
 
1,239
356,522
DTE Energy Co.
 
4,930
704,349
Exelon Corp.
 
29,459
1,344,509
FirstEnergy Corp.
 
15,618
724,519
National Fuel Gas Co.
 
2,207
170,491
NRG Energy, Inc.
 
4,360
584,589
OGE Energy Corp.
 
5,069
239,409
PPL Corp.
 
16,702
591,084
Southwest Gas Holdings, Inc.
 
3,009
259,406
Talen Energy Corp.(c)
 
954
369,007
UGI Corp.
 
8,219
287,008
Vistra Corp.
 
4,868
780,000
 
 
8,304,298
Total Common Stocks & Other Equity Interests
(Cost $660,003,056)
859,243,209
Money Market Funds-0.07%
Invesco Government & Agency Portfolio,
Institutional Class, 3.53%(e)(g)
(Cost $598,899)
 
598,899
598,899
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.89%
(Cost $660,601,955)
859,842,108
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-2.20%
Invesco Private Government Fund,
3.58%(e)(g)(h)
 
5,258,810
5,258,810
Invesco Private Prime Fund, 3.75%(e)(g)(h)
 
13,700,072
13,702,812
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $18,960,939)
18,961,622
TOTAL INVESTMENTS IN SECURITIES-102.09%
(Cost $679,562,894)
878,803,730
OTHER ASSETS LESS LIABILITIES-(2.09)%
(17,975,353
)
NET ASSETS-100.00%
$860,828,377
See accompanying notes which are an integral part of this schedule.
Invesco RAFITM Strategic US ETF (IUS)—(continued)
May 31, 2026
(Unaudited)
Investment Abbreviations:
ADR
-American Depositary Receipt
 
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 value of this security at May 31, 2026 represented 7.29% of the Fund’s Net Assets.
(c)
Non-income producing security.
(d)
All or a portion of this security was out on loan at May 31, 2026.
(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 Ltd.
$571,044
$85,563
$(29,190
)
$165,335
$11,585
$804,337
$17,049
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
287,957
12,124,303
(11,813,361
)
-
-
598,899
15,996
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
4,596,480
28,454,530
(27,792,200
)
-
-
5,258,810
119,661
*
Invesco Private Prime Fund
12,115,901
59,577,200
(57,988,672
)
(133
)
(1,484
)
13,702,812
323,974
*
Total
$17,571,382
$100,241,596
$(97,623,423
)
$165,202
$10,101
$20,364,858
$476,680
 
*
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.
 
(f)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(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.
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 Bloomberg Pricing Power ETF
Investments in Securities
Common Stocks & Other Equity Interests
$176,837,700
$-
$-
$176,837,700
Money Market Funds
32,311
3,385,015
-
3,417,326
Total Investments
$176,870,011
$3,385,015
$-
$180,255,026
Invesco RAFITM Strategic US ETF
Investments in Securities
Common Stocks & Other Equity Interests
$859,243,209
$-
$0
$859,243,209
Money Market Funds
598,899
18,961,622
-
19,560,521
Total Investments
$859,842,108
$18,961,622
$0
$878,803,730