Schedule of Investments(a)
Invesco Bloomberg MVP Multi-factor ETF (BMVP)
July 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.83%
Communication Services-7.23%
Alphabet, Inc., Class A
 
5,009
$1,783,855
AT&T, Inc.
 
86,489
2,010,869
Verizon Communications, Inc.
 
42,284
1,979,314
Warner Music Group Corp., Class A(b)
 
66,137
1,716,917
 
 
7,490,955
Consumer Discretionary-9.21%
Best Buy Co., Inc.
 
23,593
2,035,132
Darden Restaurants, Inc.
 
8,690
1,769,110
Ross Stores, Inc.
 
8,411
2,111,750
TJX Cos., Inc. (The)
 
11,817
1,859,287
Versigent PLC(c)
 
42,616
1,762,171
 
 
9,537,450
Consumer Staples-5.37%
Coca-Cola Co. (The)
 
22,028
1,929,433
Colgate-Palmolive Co.
 
19,527
1,782,815
PepsiCo, Inc.
 
13,222
1,845,262
 
 
5,557,510
Energy-5.53%
Halliburton Co.
 
52,734
1,700,672
Marathon Petroleum Corp.
 
7,002
2,215,923
Targa Resources Corp.
 
6,677
1,805,260
 
 
5,721,855
Financials-16.86%
Allstate Corp. (The)
 
7,524
1,986,938
American Express Co.
 
5,293
1,779,771
Ameriprise Financial, Inc.
 
3,902
2,129,868
MetLife, Inc.
 
21,159
2,034,015
Principal Financial Group, Inc.
 
16,610
1,888,557
Raymond James Financial, Inc.
 
11,775
2,072,165
Synchrony Financial
 
23,541
1,784,172
T. Rowe Price Group, Inc.
 
15,747
1,759,727
Travelers Cos., Inc. (The)
 
5,423
2,030,154
 
 
17,465,367
Health Care-10.94%
Bristol-Myers Squibb Co.
 
31,071
2,029,247
Cigna Group (The)
 
6,494
1,812,151
Gilead Sciences, Inc.
 
14,170
1,845,076
Johnson & Johnson
 
7,049
1,807,011
Labcorp Holdings, Inc.
 
6,394
1,977,025
Pfizer, Inc.
 
74,349
1,859,468
 
 
11,329,978
Industrials-16.58%
3M Co.
 
11,057
1,949,128
CSX Corp.
 
37,667
1,898,417
EMCOR Group, Inc.
 
2,157
1,720,056
Expeditors International of Washington, Inc.
 
10,984
1,844,104
General Dynamics Corp.
 
5,054
1,937,805
Honeywell International, Inc.
 
7,996
1,943,428
Leidos Holdings, Inc.
 
17,386
2,009,822
Lockheed Martin Corp.
 
3,514
2,047,748
W.W. Grainger, Inc.
 
1,315
1,817,619
 
 
17,168,127
 
Shares
Value
Information Technology-12.33%
Apple, Inc.
 
6,187
$1,911,226
Cisco Systems, Inc.
 
15,241
1,767,804
Fortinet, Inc.(c)
 
11,654
1,887,366
Jabil, Inc.
 
4,644
1,463,092
Motorola Solutions, Inc.
 
4,311
1,878,518
NetApp, Inc.
 
11,568
2,064,888
NVIDIA Corp.
 
8,947
1,796,110
 
 
12,769,004
Materials-5.57%
CF Industries Holdings, Inc.
 
16,537
2,070,267
Nucor Corp.
 
8,037
2,067,840
PPG Industries, Inc.
 
14,760
1,631,275
 
 
5,769,382
Real Estate-5.14%
Mid-America Apartment Communities, Inc.
 
12,886
1,705,333
Realty Income Corp.
 
28,894
1,845,460
VICI Properties, Inc.
 
67,432
1,776,833
 
 
5,327,626
Utilities-5.07%
DTE Energy Co.
 
11,749
1,666,831
Edison International
 
24,047
1,764,328
FirstEnergy Corp.
 
37,659
1,819,306
 
 
5,250,465
Total Common Stocks & Other Equity Interests
(Cost $96,312,266)
103,387,719
Money Market Funds-0.09%
Invesco Government & Agency Portfolio,
Institutional Class, 3.64%(d)(e)
(Cost $93,977)
 
93,977
93,977
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.92%
(Cost $96,406,243)
103,481,696
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-0.13%
Invesco Private Government Fund,
3.69%(d)(e)(f)
 
33,980
33,980
Invesco Private Prime Fund, 3.82%(d)(e)(f)
 
101,180
101,190
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $135,170)
135,170
TOTAL INVESTMENTS IN SECURITIES-100.05%
(Cost $96,541,413)
103,616,866
OTHER ASSETS LESS LIABILITIES-(0.05)%
(49,704
)
NET ASSETS-100.00%
$103,567,162
See accompanying notes which are an integral part of this schedule.

Invesco Bloomberg MVP Multi-factor ETF (BMVP)—(continued)
July 31, 2026
(Unaudited)
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)
All or a portion of this security was out on loan at July 31, 2026.
(c)
Non-income producing security.
(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 three months ended July 31, 2026.
 
 
Value
April 30, 2026
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
(Loss)
Value
July 31, 2026
Dividend Income
Investments in Affiliated Money
Market Funds:
Invesco Government & Agency
Portfolio, Institutional Class
$-
$568,553
$(474,576
)
$-
$-
$93,977
$735
Investments Purchased with
Cash Collateral from Securities
on Loan:
Invesco Private Government Fund
350,261
5,211,004
(5,527,285
)
-
-
33,980
1,717
*
Invesco Private Prime Fund
1,306,767
11,882,259
(13,087,697
)
69
(208
)
101,190
5,142
*
Total
$1,657,028
$17,661,816
$(19,089,558
)
$69
$(208
)
$229,147
$7,594
 
*
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 July 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 RAFI US 1000 ETF (PRF)
July 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.90%
Communication Services-8.70%
Alphabet, Inc., Class A
 
1,008,644
$359,208,388
AppLovin Corp., Class A(b)
 
1,704
674,614
AT&T, Inc.
 
2,736,335
63,619,789
Charter Communications, Inc.,
Class A(b)(c)
 
104,268
15,116,775
Comcast Corp., Class A
 
1,810,089
43,369,732
EchoStar Corp., Class A(b)
 
33,422
2,810,456
Electronic Arts, Inc.
 
51,247
10,754,695
Fox Corp., Class A(c)
 
114,898
6,690,511
Gray Media, Inc.(c)
 
42,710
172,548
Liberty Broadband Corp., Class C(b)(c)
 
39,311
1,338,146
Liberty Global Ltd., Class A
(Belgium)(b)(c)
 
216,223
2,294,126
Liberty Latin America Ltd., Class C(b)
 
95,699
772,291
Liberty Media Corp.-Liberty Formula
One(b)
 
18,716
1,836,601
Lumen Technologies, Inc.(b)
 
808,071
5,155,493
Match Group, Inc.
 
38,279
1,508,575
Meta Platforms, Inc., Class A
 
242,305
134,893,617
Netflix, Inc.(b)
 
255,521
18,323,411
New York Times Co. (The), Class A
 
20,020
1,499,298
News Corp., Class A
 
148,501
4,092,688
Nexstar Media Group, Inc., Class A(c)
 
15,388
2,931,876
Omnicom Group, Inc.
 
94,336
7,424,243
Optimum Communications, Inc.,
Class A(b)
 
197,681
150,672
Paramount Skydance Corp.(c)
 
462,679
3,682,925
People, Inc.(b)(c)
 
37,946
1,577,415
Pinterest, Inc., Class A(b)
 
109,599
2,631,472
Roku, Inc., Class A(b)
 
14,762
2,140,638
Sirius XM Holdings, Inc.(c)
 
121,219
3,590,507
Snap, Inc., Class A(b)
 
296,833
1,392,147
Take-Two Interactive Software, Inc.(b)
 
11,906
2,892,205
Telephone and Data Systems, Inc.(c)
 
41,877
1,406,230
T-Mobile US, Inc.
 
83,868
14,484,842
Trade Desk, Inc. (The), Class A(b)
 
36,328
655,357
Verizon Communications, Inc.
 
1,597,240
74,766,804
Versant Media Group, Inc.
 
32,499
1,169,639
Walt Disney Co. (The)
 
352,305
33,888,218
Warner Bros. Discovery, Inc.(b)
 
797,585
20,976,485
Yelp, Inc.(b)(c)
 
42,864
1,132,896
Ziff Davis, Inc.(b)(c)
 
32,640
1,732,531
 
 
852,758,856
Consumer Discretionary-8.80%
Abercrombie & Fitch Co., Class A(b)(c)
 
13,596
1,353,346
Academy Sports & Outdoors, Inc.(c)
 
39,313
1,865,402
Adient PLC(b)(c)
 
76,437
1,608,234
ADT, Inc.
 
205,389
1,569,172
Advance Auto Parts, Inc.(c)
 
59,171
3,286,357
Airbnb, Inc., Class A(b)
 
25,354
3,841,638
Amazon.com, Inc.(b)
 
844,000
229,213,520
American Eagle Outfitters, Inc.(c)
 
81,690
1,403,434
Aptiv PLC(b)
 
55,617
3,140,692
Aramark
 
48,062
2,738,092
Asbury Automotive Group, Inc.(b)
 
11,246
2,605,698
AutoNation, Inc.(b)
 
20,865
4,431,726
AutoZone, Inc.(b)
 
665
2,005,806
Bath & Body Works, Inc.
 
72,254
1,453,750
Best Buy Co., Inc.
 
145,659
12,564,545
Booking Holdings, Inc.
 
80,027
15,437,208
BorgWarner, Inc.
 
100,994
6,437,358
 
Shares
Value
Consumer Discretionary-(continued)
Boyd Gaming Corp.
 
16,575
$1,409,870
Brightstar Lottery PLC(c)
 
15,832
158,953
Brunswick Corp.
 
37,738
2,981,302
Burlington Stores, Inc.(b)
 
5,035
1,855,297
Caesars Entertainment, Inc.(b)(c)
 
110,758
3,295,051
Capri Holdings Ltd.(b)
 
114,385
1,822,153
CarMax, Inc.(b)(c)
 
98,185
5,622,073
Carnival Corp. Ltd.
 
94,033
2,615,058
Carter’s, Inc.(c)
 
41,608
1,604,821
Century Communities, Inc.(c)
 
19,497
1,309,419
Chipotle Mexican Grill, Inc.(b)
 
104,848
3,902,443
Columbia Sportswear Co.(c)
 
17,132
1,017,298
Coupang, Inc. (South Korea)(b)
 
93,836
1,534,219
Crocs, Inc.(b)(c)
 
20,240
2,590,922
D.R. Horton, Inc.
 
98,891
14,147,346
Dana, Inc.
 
75,585
2,035,504
Darden Restaurants, Inc.
 
21,666
4,410,764
Deckers Outdoor Corp.(b)
 
25,017
2,423,647
Dick’s Sporting Goods, Inc.(c)
 
15,070
2,952,364
Domino’s Pizza, Inc.
 
5,312
1,845,601
DoorDash, Inc., Class A(b)
 
14,581
2,860,209
eBay, Inc.
 
140,286
15,994,007
Etsy, Inc.(b)
 
29,136
2,379,829
Expedia Group, Inc.
 
18,330
5,402,584
Five Below, Inc.(b)
 
6,130
1,331,007
Floor & Decor Holdings, Inc., Class A(b)(c)
 
17,265
993,946
Flutter Entertainment PLC (Ireland)(b)(c)
 
25,688
2,683,625
Ford Motor Co.
 
3,254,080
47,769,894
GameStop Corp., Class A(b)(c)
 
32,127
697,798
Gap, Inc. (The)(c)
 
85,533
1,718,358
General Motors Co.
 
594,213
52,801,767
Gentex Corp.(c)
 
93,382
2,181,404
Genuine Parts Co.
 
42,099
5,235,853
Goodyear Tire & Rubber Co. (The)(b)(c)
 
429,271
2,983,433
Graham Holdings Co., Class B
 
1,234
1,485,168
Grand Canyon Education, Inc.(b)
 
7,114
1,033,949
Group 1 Automotive, Inc.
 
8,569
2,457,332
Harley-Davidson, Inc.(c)
 
82,793
2,031,740
Hasbro, Inc.
 
31,794
2,986,728
Helen of Troy Ltd.(b)
 
51,119
1,412,418
Hilton Grand Vacations, Inc.(b)(c)
 
11,828
545,744
Hilton Worldwide Holdings, Inc.
 
11,671
3,740,439
Home Depot, Inc. (The)
 
142,707
47,373,016
KB Home
 
35,559
1,954,678
Kohl’s Corp.(c)
 
262,233
5,019,140
Las Vegas Sands Corp.
 
34,214
1,672,722
Laureate Education, Inc., Class A(b)
 
40,517
1,552,206
LCI Industries
 
10,834
1,108,968
Lear Corp.
 
41,975
5,483,614
Leggett & Platt, Inc.(c)
 
133,295
1,306,291
Lennar Corp., Class A
 
123,991
10,210,659
LGI Homes, Inc.(b)
 
19,692
1,074,592
Lithia Motors, Inc., Class A
 
17,006
6,554,453
LKQ Corp.(c)
 
168,444
3,781,568
Lowe’s Cos., Inc.
 
139,124
28,911,358
M/I Homes, Inc.(b)(c)
 
11,323
1,654,630
Macy’s, Inc.
 
253,378
6,288,842
Marriott International, Inc., Class A
 
12,651
4,716,672
Marriott Vacations Worldwide Corp.(c)
 
26,840
2,617,168
Mattel, Inc.(b)(c)
 
96,193
1,451,552
McDonald’s Corp.
 
75,390
20,403,550
Meritage Homes Corp.
 
39,914
2,801,963
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Consumer Discretionary-(continued)
MGM Resorts International(b)
 
106,984
$4,768,277
Mohawk Industries, Inc.(b)(c)
 
33,186
4,085,197
Murphy USA, Inc.
 
6,652
4,042,820
Newell Brands, Inc.(c)
 
506,583
2,836,865
NIKE, Inc., Class B
 
332,037
13,849,263
NVR, Inc.(b)
 
854
5,249,581
Ollie’s Bargain Outlet Holdings, Inc.(b)(c)
 
9,239
678,789
O’Reilly Automotive, Inc., Class R(b)
 
82,296
7,353,148
PENN Entertainment, Inc.(b)
 
102,505
2,104,428
Penske Automotive Group, Inc.
 
8,935
1,941,665
Phinia, Inc.
 
18,872
1,388,790
Polaris, Inc.
 
40,715
2,731,162
Pool Corp.
 
7,977
1,481,409
PulteGroup, Inc.
 
71,659
9,062,714
PVH Corp.
 
47,661
4,130,302
Ralph Lauren Corp.
 
5,923
2,252,754
RH(b)(c)
 
7,657
1,267,387
Rivian Automotive, Inc., Class A(b)(c)
 
164,828
2,508,682
Ross Stores, Inc.
 
29,499
7,406,314
Royal Caribbean Cruises Ltd.
 
7,520
2,393,616
Service Corp. International(c)
 
24,941
2,149,665
Signet Jewelers Ltd.
 
19,806
1,839,977
Somnigroup International, Inc.
 
19,285
1,259,889
Starbucks Corp.
 
154,059
16,214,710
Steven Madden Ltd.(c)
 
30,310
1,396,685
Tapestry, Inc.
 
31,518
4,802,398
Tesla, Inc.(b)
 
74,555
23,202,262
Texas Roadhouse, Inc.
 
8,938
1,836,223
Thor Industries, Inc.(c)
 
33,961
2,546,056
TJX Cos., Inc. (The)
 
103,463
16,278,868
Toll Brothers, Inc.
 
28,285
4,126,499
Tractor Supply Co.
 
103,429
3,182,510
Travel + Leisure Co.
 
19,144
1,455,327
Ulta Beauty, Inc.(b)
 
4,759
2,440,558
Under Armour, Inc., Class A(b)(c)
 
199,303
1,325,365
Upbound Group, Inc.(c)
 
48,628
942,897
Urban Outfitters, Inc.(b)(c)
 
16,955
1,257,722
V.F. Corp.
 
237,522
3,401,315
Vail Resorts, Inc.(c)
 
11,799
1,762,535
Valvoline, Inc.(b)(c)
 
39,556
1,519,346
Versigent PLC(b)
 
5,847
241,773
Victoria’s Secret & Co.(b)(c)
 
29,754
2,638,585
Visteon Corp.(c)
 
9,294
971,595
Whirlpool Corp.(c)
 
74,277
2,785,388
Williams-Sonoma, Inc.
 
14,331
3,276,926
Winnebago Industries, Inc.(c)
 
34,237
1,036,696
Wyndham Hotels & Resorts, Inc.
 
17,208
1,288,191
Yum! Brands, Inc.
 
31,773
4,870,165
 
 
862,738,246
Consumer Staples-6.25%
Albertson’s Cos., Inc., Class A(c)
 
275,833
3,194,146
Altria Group, Inc.
 
343,241
23,453,657
Andersons, Inc. (The)
 
20,573
1,456,157
Archer-Daniels-Midland Co.
 
246,732
19,558,446
BJ’s Wholesale Club Holdings, Inc.,
Class C(b)
 
21,490
2,101,292
Brown-Forman Corp., Class B(c)
 
79,051
2,271,135
Bunge Global S.A.
 
100,135
10,637,341
Cal-Maine Foods, Inc.(c)
 
15,078
1,323,547
Campbell’s Co. (The)(c)
 
92,134
2,025,105
Casey’s General Stores, Inc.
 
5,261
4,582,331
Church & Dwight Co., Inc.
 
36,641
3,620,497
 
Shares
Value
Consumer Staples-(continued)
Clorox Co. (The)(c)
 
23,366
$2,232,154
Coca-Cola Co. (The)
 
384,184
33,650,676
Coca-Cola Consolidated, Inc.
 
3,973
746,527
Colgate-Palmolive Co.
 
110,821
10,117,957
Conagra Brands, Inc.
 
350,523
5,086,089
Constellation Brands, Inc., Class A
 
44,978
5,857,485
Costco Wholesale Corp.
 
45,438
43,251,978
Darling Ingredients, Inc.(b)
 
54,062
3,278,320
Del Monte Corp.
 
20,327
603,915
Dollar General Corp.
 
97,857
12,432,732
Dollar Tree, Inc.(b)
 
60,918
7,749,379
Estee Lauder Cos., Inc. (The), Class A
 
56,004
4,698,735
Flowers Foods, Inc.(c)
 
147,395
1,034,713
General Mills, Inc.
 
265,541
9,493,091
Hain Celestial Group, Inc. (The)(b)
 
52,996
26,413
Hershey Co. (The)
 
21,385
3,743,444
Hormel Foods Corp.
 
134,355
3,360,218
Ingles Markets, Inc., Class A
 
8,124
731,241
Ingredion, Inc.(c)
 
26,185
2,604,360
J.M. Smucker Co. (The)
 
48,115
5,738,195
Kenvue, Inc.
 
460,709
8,864,041
Keurig Dr Pepper, Inc.
 
348,806
10,854,843
Kimberly-Clark Corp.
 
69,191
7,563,268
Kraft Heinz Co. (The)
 
618,212
15,980,780
Kroger Co. (The)
 
277,214
16,006,336
Lamb Weston Holdings, Inc.
 
38,416
2,018,761
Maplebear, Inc.(b)
 
29,825
1,330,195
McCormick & Co., Inc.
 
54,806
2,789,625
Molson Coors Beverage Co., Class B(c)
 
109,573
4,553,854
Mondelez International, Inc., Class A
 
355,635
22,159,617
Monster Beverage Corp.(b)
 
40,427
3,896,354
Nomad Foods Ltd. (United Kingdom)
 
90,224
1,073,666
Nu Skin Enterprises, Inc., Class A(c)
 
33,427
173,486
PepsiCo, Inc.
 
237,930
33,205,511
Performance Food Group Co.(b)
 
54,638
6,250,041
Philip Morris International, Inc.
(Switzerland)
 
166,923
31,852,247
Post Holdings, Inc.(b)
 
17,327
1,583,861
PriceSmart, Inc.
 
7,593
1,472,359
Procter & Gamble Co. (The)
 
458,283
66,217,311
Spectrum Brands Holdings, Inc.(c)
 
25,509
2,264,434
Sprouts Farmers Market, Inc.(b)(c)
 
19,401
1,690,991
Sysco Corp.
 
96,636
8,237,253
Target Corp.
 
254,045
36,706,962
Tyson Foods, Inc., Class A
 
191,884
11,121,597
United Natural Foods, Inc.(b)(c)
 
59,905
3,044,971
Universal Corp.
 
14,423
759,948
US Foods Holding Corp.(b)
 
62,930
6,330,129
Walmart, Inc.
 
664,959
73,943,441
 
 
612,607,158
Energy-7.99%
Antero Midstream Corp.
 
50,639
1,112,539
Antero Resources Corp.(b)
 
88,444
3,196,366
APA Corp.
 
195,812
7,307,704
Baker Hughes Co., Class A
 
219,677
13,288,262
California Resources Corp.
 
27,239
1,433,316
Cheniere Energy, Inc.
 
32,141
8,471,403
Chevron Corp.
 
649,195
127,781,052
Chord Energy Corp.
 
31,848
4,470,822
CNX Resources Corp.(b)(c)
 
58,824
2,105,899
ConocoPhillips
 
476,342
57,389,684
Core Natural Resources, Inc.(c)
 
13,162
1,050,854
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Energy-(continued)
Crescent Energy Co., Class A
 
50,095
$574,590
Delek US Holdings, Inc.
 
33,145
2,249,551
Devon Energy Corp.
 
464,031
20,941,719
Diamondback Energy, Inc.
 
44,396
9,010,168
DT Midstream, Inc.
 
13,144
1,813,872
EOG Resources, Inc.
 
192,537
28,628,327
EQT Corp.
 
108,055
5,758,251
Expand Energy Corp.
 
66,191
6,223,940
ExxonMobil Holdings Corp.
 
1,172,362
182,231,949
Halliburton Co.
 
244,031
7,870,000
Helmerich & Payne, Inc.
 
61,957
2,141,853
HF Sinclair Corp.
 
123,785
11,322,614
Kinder Morgan, Inc.
 
513,784
16,533,569
Liberty Energy, Inc., Class A(c)
 
75,875
1,419,621
Magnolia Oil & Gas Corp., Class A
 
47,613
1,224,130
Marathon Petroleum Corp.
 
147,048
46,536,281
Matador Resources Co.
 
35,341
1,763,162
Murphy Oil Corp.(c)
 
85,640
3,403,334
Noble Corp. PLC(c)
 
31,169
1,321,566
Northern Oil and Gas, Inc.(c)
 
23,244
491,611
NOV, Inc.
 
178,493
3,468,119
Occidental Petroleum Corp.
 
257,137
14,674,809
ONEOK, Inc.
 
134,925
12,252,539
Ovintiv, Inc.
 
162,965
10,178,794
Patterson-UTI Energy, Inc.
 
270,090
2,830,543
PBF Energy, Inc., Class A
 
143,091
10,342,617
Peabody Energy Corp.
 
78,913
1,682,425
Permian Resources Corp., Class A
 
124,867
2,660,916
Phillips 66
 
175,895
37,233,454
Range Resources Corp.(c)
 
55,558
2,230,098
Scorpio Tankers, Inc. (Monaco)(c)
 
9,319
725,577
SLB Ltd.(c)
 
365,489
18,124,600
SM Energy Co.
 
153,991
5,007,787
Targa Resources Corp.
 
22,064
5,965,444
TechnipFMC PLC (United Kingdom)
 
44,278
3,172,961
Valero Energy Corp.
 
187,141
58,556,419
Weatherford International PLC
 
13,967
1,226,163
Williams Cos., Inc. (The)
 
164,730
11,784,784
World Kinect Corp.
 
49,582
1,976,339
 
 
783,162,397
Financials-17.29%
Affiliated Managers Group, Inc.
 
9,018
3,307,171
Aflac, Inc.
 
134,463
17,141,343
AGNC Investment Corp.
 
245,843
2,620,686
Allstate Corp. (The)
 
70,546
18,629,788
Ally Financial, Inc.
 
171,293
7,422,126
American Express Co.
 
59,195
19,904,319
American Financial Group, Inc.
 
30,482
4,319,909
American International Group, Inc.
 
279,026
21,925,863
Ameriprise Financial, Inc.
 
17,560
9,584,950
Annaly Capital Management, Inc.
 
215,389
4,893,638
Aon PLC, Class A
 
30,692
11,066,001
Apollo Global Management, Inc.
 
32,020
4,021,392
Arbor Realty Trust, Inc.(c)
 
132,861
665,634
Arch Capital Group Ltd.(b)
 
38,534
3,873,823
Ares Management Corp., Class A
 
11,046
1,414,882
Arthur J. Gallagher & Co.
 
24,563
6,126,503
Associated Banc-Corp
 
47,193
1,457,320
Assurant, Inc.
 
10,039
2,802,788
Assured Guaranty Ltd.
 
9,939
822,154
AXIS Capital Holdings Ltd.
 
9,480
998,434
Bank of America Corp.
 
2,002,372
124,046,945
 
Shares
Value
Financials-(continued)
Bank of New York Mellon Corp. (The)
 
154,496
$24,152,360
Bank OZK
 
36,978
1,896,971
BankUnited, Inc.
 
32,504
1,516,312
Berkshire Hathaway, Inc., Class B(b)
 
349,417
178,740,772
BlackRock, Inc.
 
17,226
18,783,058
Blackstone Mortgage Trust, Inc.,
Class A(c)
 
84,559
1,229,488
Blackstone, Inc., Class A
 
55,736
7,120,274
Block, Inc., Class A(b)
 
121,294
9,853,925
Bread Financial Holdings, Inc.(c)
 
25,352
2,739,791
Brighthouse Financial, Inc.(b)
 
18,918
1,171,213
Brown & Brown, Inc.
 
29,862
2,102,285
Capital One Financial Corp.
 
162,503
33,964,752
Carlyle Group, Inc. (The)
 
46,506
2,140,206
Cathay General Bancorp(c)
 
21,188
1,338,870
Cboe Global Markets, Inc.
 
4,219
1,308,860
Charles Schwab Corp. (The)
 
141,188
14,858,625
Chimera Investment Corp.
 
48,722
608,051
Chubb Ltd.
 
66,924
23,468,908
Cincinnati Financial Corp.
 
36,289
6,447,830
Citigroup, Inc.
 
668,893
88,594,878
Citizens Financial Group, Inc.
 
140,992
10,102,077
CME Group, Inc., Class A
 
41,216
11,037,233
CNO Financial Group, Inc.
 
41,949
2,310,970
Coinbase Global, Inc., Class A(b)
 
12,365
1,808,505
Columbia Banking System, Inc.
 
56,402
1,763,691
Commerce Bancshares, Inc.
 
22,029
1,305,659
Corebridge Financial, Inc.
 
127,834
3,987,142
Corpay, Inc.(b)
 
12,267
4,687,343
Cullen/Frost Bankers, Inc.(c)
 
10,574
1,758,879
East West Bancorp, Inc.
 
24,445
3,202,295
Equitable Holdings, Inc.
 
62,551
2,980,555
Essent Group Ltd.
 
25,196
1,661,928
Euronet Worldwide, Inc.(b)
 
17,050
1,216,177
Evercore, Inc., Class A
 
7,191
2,305,147
Everest Group Ltd.
 
7,200
2,693,880
F&G Annuities & Life, Inc.(c)
 
2,152
61,483
F.N.B. Corp.
 
107,749
2,036,456
FactSet Research Systems, Inc.(c)
 
6,972
1,835,030
Federated Hermes, Inc., Class B
 
21,884
1,312,165
Fidelity National Financial, Inc.
 
80,247
4,139,943
Fidelity National Information Services,
Inc.
 
226,783
10,153,075
Fifth Third Bancorp
 
225,982
12,767,983
First American Financial Corp.
 
46,190
3,463,788
First Citizens BancShares, Inc.,
Class A(c)
 
2,220
4,854,363
First Hawaiian, Inc.(c)
 
41,767
1,160,705
First Horizon Corp.
 
125,944
3,229,204
First Interstate BancSystem, Inc.,
Class A
 
32,914
1,251,390
FirstCash Holdings, Inc.
 
6,334
1,292,199
Fiserv, Inc.(b)
 
225,405
12,158,346
Flagstar Bank N.A(c)
 
164,271
2,335,934
Franklin Resources, Inc.
 
146,488
4,960,084
Genworth Financial, Inc., Class A(b)
 
252,986
2,486,852
Glacier Bancorp, Inc.(c)
 
23,117
1,139,437
Global Payments, Inc.(c)
 
142,037
11,942,471
Globe Life, Inc.
 
15,430
2,812,118
Goldman Sachs Group, Inc. (The)
 
55,338
56,355,112
Hancock Whitney Corp.(c)
 
20,188
1,554,476
Hanover Insurance Group, Inc. (The)
 
8,497
1,976,657
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Hartford Insurance Group, Inc. (The)
 
61,220
$8,687,730
Home BancShares, Inc.(c)
 
46,565
1,446,775
Houlihan Lokey, Inc.
 
6,613
829,865
Huntington Bancshares, Inc.
 
460,779
7,851,674
Intercontinental Exchange, Inc.
 
66,132
10,083,807
Invesco Ltd.(d)
 
155,298
4,596,821
Jack Henry & Associates, Inc.
 
12,112
1,865,732
Jackson Financial, Inc., Class A
 
28,948
3,539,761
Jefferies Financial Group, Inc.
 
55,262
3,017,305
JPMorgan Chase & Co.
 
476,321
167,564,965
Kemper Corp.
 
38,161
1,083,009
KeyCorp
 
302,727
6,838,603
KKR & Co., Inc., Class A
 
49,817
5,052,938
Lincoln National Corp.
 
94,079
4,290,943
Loews Corp.
 
41,010
4,757,570
LPL Financial Holdings, Inc.
 
8,560
3,027,672
M&T Bank Corp.
 
38,936
9,589,547
Markel Group, Inc.(b)
 
2,638
4,965,613
Marsh & McLennan Cos., Inc.
 
65,946
12,509,297
Mastercard, Inc., Class A
 
41,306
23,672,469
MetLife, Inc.
 
213,269
20,501,549
MGIC Investment Corp.
 
82,841
2,488,544
Moelis & Co., Class A
 
16,893
1,133,182
Moody’s Corp.
 
10,402
4,976,109
Morgan Stanley
 
205,680
43,279,186
MSCI, Inc.
 
4,166
2,383,952
Nasdaq, Inc.
 
45,319
4,268,597
Navient Corp.(c)
 
59,065
495,555
NCR Atleos Corp.(b)
 
24,259
1,140,901
Northern Trust Corp.
 
37,658
6,860,911
Old National Bancorp
 
70,893
1,888,590
Old Republic International Corp.
 
94,323
4,075,697
OneMain Holdings, Inc.
 
77,198
4,831,051
PayPal Holdings, Inc.
 
397,410
22,735,826
PennyMac Financial Services, Inc.
 
12,805
965,625
Pinnacle Financial Partners, Inc.
 
30,527
3,212,356
PNC Financial Services Group, Inc. (The)
 
101,150
25,274,350
Popular, Inc.
 
9,662
1,692,879
Primerica, Inc.
 
6,618
2,117,495
Principal Financial Group, Inc.
 
79,595
9,049,952
PROG Holdings, Inc.
 
28,570
1,257,651
Progressive Corp. (The)
 
71,694
15,157,545
Prosperity Bancshares, Inc.(c)
 
30,630
2,293,268
Prudential Financial, Inc.
 
123,793
15,112,649
Radian Group, Inc.
 
46,435
1,810,501
Raymond James Financial, Inc.
 
28,256
4,972,491
Regions Financial Corp.
 
232,925
7,209,029
Reinsurance Group of America, Inc.
 
16,703
3,956,106
RenaissanceRe Holdings Ltd. (Bermuda)
 
4,871
1,558,623
Rithm Capital Corp.(c)
 
274,015
2,707,268
RLI Corp.(c)
 
10,236
626,853
Robinhood Markets, Inc., Class A(b)
 
19,749
1,709,473
Rocket Cos., Inc., Class A(b)(c)
 
45,883
591,891
S&P Global, Inc.
 
36,202
14,912,690
SEI Investments Co.
 
25,042
2,578,825
Selective Insurance Group, Inc.
 
14,192
1,345,260
Simmons First National Corp., Class A
 
60,410
1,425,072
SLM Corp.
 
101,034
2,626,379
SoFi Technologies, Inc.(b)(c)
 
36,664
597,990
SouthState Bank Corp.
 
18,694
1,964,552
Starwood Property Trust, Inc.
 
147,454
2,356,315
State Street Corp.
 
84,631
15,585,645
 
Shares
Value
Financials-(continued)
Stifel Financial Corp.
 
22,292
$1,848,230
StoneX Group, Inc.(b)(c)
 
28,015
2,145,109
Synchrony Financial
 
197,601
14,976,180
T. Rowe Price Group, Inc.(c)
 
97,490
10,894,507
TPG, Inc.(b)(e)
 
55,784
0
Travelers Cos., Inc. (The)
 
52,717
19,735,136
Truist Financial Corp.
 
442,599
22,944,332
U.S. Bancorp
 
427,629
26,944,903
United Bankshares, Inc.
 
38,849
1,882,234
Unum Group
 
50,349
4,335,552
Valley National Bancorp(c)
 
150,464
2,150,131
Virtu Financial, Inc., Class A
 
24,613
1,445,521
Visa, Inc., Class A
 
101,993
37,342,697
Voya Financial, Inc.
 
22,520
2,239,164
W.R. Berkley Corp.
 
47,022
3,410,976
Webster Financial Corp.
 
40,655
3,139,379
Wells Fargo & Co.
 
952,412
82,336,017
Western Alliance Bancorporation
 
22,207
1,787,441
Western Union Co. (The)(c)
 
289,368
1,840,380
WEX, Inc.(b)(c)
 
8,079
1,510,450
White Mountains Insurance Group Ltd.(c)
 
741
1,554,418
Willis Towers Watson PLC
 
17,855
5,997,852
Wintrust Financial Corp.
 
11,420
1,821,947
Zions Bancorporation N.A.
 
57,926
4,037,442
 
 
1,694,504,327
Health Care-12.79%
Abbott Laboratories
 
313,777
33,166,229
AbbVie, Inc.
 
227,757
57,153,342
Acadia Healthcare Co., Inc.(b)(c)
 
62,827
1,860,936
Accendra Health, Inc.(b)(c)
 
93,186
287,945
Agilent Technologies, Inc.
 
48,257
6,677,321
Align Technology, Inc.(b)
 
20,224
3,421,092
Alnylam Pharmaceuticals, Inc.(b)
 
2,978
612,039
Amgen, Inc.
 
103,427
39,835,943
AMN Healthcare Services, Inc.(b)(c)
 
57,976
1,949,733
Avantor, Inc.(b)
 
241,100
3,322,358
Baxter International, Inc.(c)
 
334,968
8,762,763
Becton, Dickinson and Co.
 
68,882
11,408,237
Biogen, Inc.(b)
 
61,856
12,553,675
BioMarin Pharmaceutical, Inc.(b)
 
43,173
2,591,243
Bio-Rad Laboratories, Inc., Class A(b)(c)
 
7,065
2,299,516
Boston Scientific Corp.(b)
 
122,739
5,735,593
Bristol-Myers Squibb Co.
 
897,780
58,634,012
Bruker Corp.(c)
 
26,907
1,690,836
Cardinal Health, Inc.
 
35,655
8,201,720
Cencora, Inc.
 
15,593
4,854,725
Centene Corp.(b)
 
610,825
38,005,531
Charles River Laboratories International,
Inc.(b)
 
9,710
2,257,672
Chemed Corp.
 
3,131
1,666,475
Cigna Group (The)
 
114,038
31,822,304
Cooper Cos., Inc. (The)(b)
 
40,223
2,908,927
CVS Health Corp.
 
539,351
56,324,425
Danaher Corp.
 
94,903
18,504,187
DaVita, Inc.(b)
 
16,683
4,005,421
DENTSPLY SIRONA, Inc.(c)
 
203,649
2,722,787
Dexcom, Inc.(b)
 
28,950
2,415,877
Edwards Lifesciences Corp.(b)
 
82,023
7,059,720
Elanco Animal Health, Inc.(b)
 
119,780
3,158,599
Elevance Health, Inc.
 
113,047
42,487,584
Eli Lilly and Co.
 
28,385
32,609,823
Encompass Health Corp.
 
12,667
1,406,924
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Enovis Corp.(b)(c)
 
38,313
$1,116,824
Envista Holdings Corp.(b)(c)
 
64,565
1,763,270
Exelixis, Inc.(b)
 
51,433
2,727,492
Fortrea Holdings, Inc.(b)
 
110,783
2,123,710
GE HealthCare Technologies, Inc.
 
102,162
6,949,059
Gilead Sciences, Inc.
 
242,065
31,519,284
Globus Medical, Inc., Class A(b)
 
15,382
1,211,948
HCA Healthcare, Inc.
 
30,821
12,408,226
Henry Schein, Inc.(b)
 
46,683
4,003,067
Humana, Inc.
 
89,990
32,743,761
ICON PLC(b)
 
17,688
2,893,138
IDEXX Laboratories, Inc.(b)
 
4,045
2,261,438
Illumina, Inc.(b)
 
28,991
5,946,054
Incyte Corp.(b)
 
38,549
4,607,376
Intuitive Surgical, Inc.(b)
 
15,042
5,314,790
IQVIA Holdings, Inc.(b)
 
30,785
7,235,091
Jazz Pharmaceuticals PLC(b)(c)
 
16,352
4,134,767
Johnson & Johnson
 
430,534
110,367,391
Labcorp Holdings, Inc.
 
28,080
8,682,336
McKesson Corp.
 
13,474
11,536,304
Medtronic PLC
 
210,736
17,994,747
Merck & Co., Inc.
 
586,227
76,326,755
Mettler-Toledo International, Inc.(b)
 
2,442
3,458,605
Moderna, Inc.(b)(c)
 
310,203
17,005,328
Molina Healthcare, Inc.(b)
 
34,340
6,717,591
Neurocrine Biosciences, Inc.(b)
 
10,869
1,812,949
Novavax, Inc.(b)(c)
 
147,667
1,080,922
Option Care Health, Inc.(b)(c)
 
40,286
927,787
Organon & Co.(c)
 
310,057
4,201,272
Perrigo Co. PLC
 
80,851
817,404
Pfizer, Inc.
 
2,854,665
71,395,172
Quest Diagnostics, Inc.
 
24,975
5,819,425
QuidelOrtho Corp.(b)(c)
 
92,644
1,553,640
Regeneron Pharmaceuticals, Inc.
 
25,229
19,240,392
ResMed, Inc.(c)
 
12,756
2,691,261
Revvity, Inc.
 
33,058
3,719,686
Royalty Pharma PLC, Class A
 
41,051
2,398,610
Sarepta Therapeutics, Inc.(b)(c)
 
61,641
915,985
Solventum Corp.(b)
 
61,472
5,252,168
STERIS PLC
 
14,481
3,307,460
Stryker Corp.
 
34,501
11,236,976
Teladoc Health, Inc.(b)(c)
 
170,044
1,140,995
Teleflex, Inc.(c)
 
17,760
2,427,970
Tenet Healthcare Corp.(b)
 
15,161
3,862,720
Thermo Fisher Scientific, Inc.
 
58,536
33,617,225
United Therapeutics Corp.(b)
 
6,056
3,135,252
UnitedHealth Group, Inc.
 
314,751
130,432,814
Universal Health Services, Inc., Class B
 
26,568
4,475,114
Veeva Systems, Inc., Class A(b)
 
9,760
1,988,893
Vertex Pharmaceuticals, Inc.(b)
 
26,705
12,740,955
Viatris, Inc.
 
655,518
11,510,896
Waters Corp.(b)
 
12,469
4,704,678
West Pharmaceutical Services, Inc.
 
8,011
2,731,431
Zimmer Biomet Holdings, Inc.
 
65,404
6,143,398
Zoetis, Inc.
 
65,428
5,056,930
 
 
1,253,764,246
Industrials-9.58%
3M Co.
 
108,899
19,196,716
A.O. Smith Corp.
 
31,217
1,877,078
ABM Industries, Inc.
 
35,688
1,709,812
Acuity, Inc.
 
7,420
2,436,654
Advanced Drainage Systems, Inc.
 
10,311
1,427,867
 
Shares
Value
Industrials-(continued)
AECOM
 
31,930
$2,311,413
AerCap Holdings N.V.
 
17,995
2,715,446
AGCO Corp.
 
30,078
3,072,768
Alaska Air Group, Inc.(b)(c)
 
43,298
2,054,490
Alight, Inc., Class A
 
34,678
588,832
Allegion PLC
 
6,605
1,039,627
Allison Transmission Holdings, Inc.
 
21,402
2,451,385
AMETEK, Inc.
 
21,439
5,182,021
API Group Corp.(b)
 
29,153
1,156,791
Applied Industrial Technologies, Inc.
 
4,717
1,628,356
ArcBest Corp.
 
14,684
2,119,635
Arcosa, Inc.
 
9,996
1,451,419
Atkore, Inc.
 
23,436
1,709,891
Automatic Data Processing, Inc.
 
50,556
13,471,152
Avis Budget Group, Inc.(b)(c)
 
17,972
2,470,072
Boeing Co. (The)(b)
 
24,353
5,263,657
Boise Cascade Co.(c)
 
26,660
2,036,291
Booz Allen Hamilton Holding Corp.
 
32,116
2,239,128
Broadridge Financial Solutions, Inc.
 
12,387
1,906,979
Builders FirstSource, Inc.(b)
 
79,255
5,265,702
BWX Technologies, Inc.
 
5,167
871,673
C.H. Robinson Worldwide, Inc.
 
30,476
4,502,219
CACI International, Inc., Class A(b)(c)
 
4,395
2,187,611
Carlisle Cos., Inc.
 
9,782
3,520,737
Carrier Global Corp.
 
132,603
8,196,191
Caterpillar, Inc.
 
51,172
41,695,457
Cintas Corp.
 
28,720
5,876,974
Clean Harbors, Inc.(b)
 
5,489
1,717,398
CNH Industrial N.V.(c)
 
403,800
4,138,950
Comfort Systems USA, Inc.
 
1,042
1,802,337
Concentrix Corp.(c)
 
60,417
1,486,258
Copart, Inc.(b)
 
66,453
1,935,111
Core & Main, Inc., Class A(b)(c)
 
22,948
1,009,024
CoreCivic, Inc.(b)
 
47,586
1,422,821
Crane Co.
 
5,294
1,130,057
CSX Corp.
 
431,992
21,772,397
Cummins, Inc.
 
22,780
14,447,076
Curtiss-Wright Corp.
 
2,767
2,003,308
Deere & Co.
 
47,124
27,928,981
Delta Air Lines, Inc.
 
26,161
2,287,518
Donaldson Co., Inc.
 
19,095
1,799,513
Dover Corp.
 
22,040
4,509,825
DuPont de Nemours, Inc.
 
49,665
6,804,105
Dycom Industries, Inc.(b)
 
3,086
1,237,702
Eaton Corp. PLC
 
35,011
14,536,567
EMCOR Group, Inc.
 
4,333
3,455,264
Emerson Electric Co.
 
99,344
14,883,718
EnerSys
 
8,932
1,661,799
Equifax, Inc.
 
13,157
2,271,161
ESAB Corp.
 
8,835
764,493
Expeditors International of Washington,
Inc.
 
43,373
7,281,893
Fastenal Co.
 
116,763
5,570,763
FedEx Corp.
 
76,667
23,567,436
FedEx Freight Holding Co., Inc.(b)
 
38,334
5,387,077
Ferguson Enterprises, Inc.
 
34,967
8,193,817
Flowserve Corp.
 
20,958
1,592,598
Fluor Corp.(b)
 
45,237
2,269,540
Fortive Corp.
 
60,917
3,606,896
Fortune Brands Innovations, Inc.(c)
 
55,374
2,727,723
FTI Consulting, Inc.(b)(c)
 
8,581
1,367,640
Gates Industrial Corp Ltd.(b)
 
65,823
1,841,728
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
GATX Corp.(c)
 
6,426
$1,149,419
GE Vernova, Inc.
 
6,676
6,611,176
Generac Holdings, Inc.(b)
 
9,113
1,796,263
General Dynamics Corp.
 
46,484
17,822,895
General Electric Co.
 
50,441
18,162,291
Genpact Ltd.
 
53,549
1,883,318
Graco, Inc.
 
21,447
1,702,463
GXO Logistics, Inc.(b)(c)
 
34,012
1,706,042
HEICO Corp.(c)
 
4,174
1,487,447
Herc Holdings, Inc.(c)
 
8,877
1,332,793
Hertz Global Holdings, Inc.(b)(c)
 
210,594
333,792
Hexcel Corp.
 
13,243
1,363,367
Honeywell Aerospace, Inc.(b)
 
60,660
12,540,848
Honeywell International, Inc.
 
60,660
14,743,413
Howmet Aerospace, Inc.
 
14,269
4,027,568
Hub Group, Inc., Class A(c)
 
38,100
1,772,793
Hubbell, Inc.
 
5,521
2,608,949
Huntington Ingalls Industries, Inc.
 
9,635
3,145,346
IDEX Corp.
 
12,299
2,834,305
Illinois Tool Works, Inc.
 
40,890
11,733,386
Ingersoll Rand, Inc.
 
51,678
4,308,912
ITT, Inc.
 
10,608
2,078,956
J.B. Hunt Transport Services, Inc.
 
19,677
5,347,225
Jacobs Solutions, Inc.
 
30,292
4,087,300
JELD-WEN Holding, Inc.(b)
 
110,074
156,305
JetBlue Airways Corp.(b)
 
213,611
1,288,074
Johnson Controls International PLC
 
84,522
12,395,997
KBR, Inc.(c)
 
42,213
1,545,418
Kelly Services, Inc., Class A
 
24,477
363,239
Kennametal, Inc.(c)
 
36,055
1,224,788
Kirby Corp.(b)
 
11,712
1,535,912
Knight-Swift Transportation Holdings,
Inc.
 
71,954
5,002,962
Korn Ferry(c)
 
18,174
1,495,175
L3Harris Technologies, Inc.
 
50,625
14,026,163
Landstar System, Inc.
 
14,024
2,450,974
Leidos Holdings, Inc.
 
28,885
3,339,106
Lennox International, Inc.
 
2,877
1,196,487
Lincoln Electric Holdings, Inc.
 
7,312
1,910,699
Lockheed Martin Corp.
 
61,102
35,606,580
Louisiana-Pacific Corp.(c)
 
18,922
1,370,520
Lyft, Inc., Class A(b)(c)
 
83,652
1,326,721
ManpowerGroup, Inc.
 
76,204
3,994,614
Masco Corp.
 
47,634
3,404,878
MasTec, Inc.(b)
 
6,946
1,827,493
MasterBrand, Inc.(b)(c)
 
94,953
783,362
Matson, Inc.
 
14,499
2,937,352
Maximus, Inc.
 
21,666
1,305,377
Middleby Corp. (The)(b)
 
12,220
1,632,348
Midera Food Processing, Inc.(b)
 
12,205
585,230
MillerKnoll, Inc.(c)
 
38,697
871,456
Mobility Global, Inc.(b)
 
36,196
737,674
Moog, Inc., Class A
 
4,665
1,818,650
MSC Industrial Direct Co., Inc., Class A
 
16,051
1,980,693
Mueller Industries, Inc.
 
31,830
2,113,830
Nordson Corp.
 
6,866
2,044,557
Norfolk Southern Corp.
 
47,670
15,992,332
Northrop Grumman Corp.
 
29,930
16,236,426
nVent Electric PLC
 
16,420
2,525,889
Old Dominion Freight Line, Inc.
 
28,487
6,043,232
Oshkosh Corp.
 
21,456
3,055,549
Otis Worldwide Corp.
 
48,486
3,488,568
 
Shares
Value
Industrials-(continued)
Owens Corning
 
40,550
$5,632,395
PACCAR, Inc.
 
117,505
15,590,563
Parker-Hannifin Corp.
 
9,421
9,199,889
Paychex, Inc.(c)
 
46,487
5,431,541
Paycom Software, Inc.
 
4,182
685,681
Pentair PLC
 
24,492
1,602,756
Quanta Services, Inc.
 
9,326
6,223,799
Regal Rexnord Corp.
 
17,280
3,546,374
Republic Services, Inc.
 
21,091
4,440,710
Resideo Technologies, Inc.(b)
 
48,289
1,656,313
Robert Half, Inc.(c)
 
103,340
3,906,252
Rockwell Automation, Inc.
 
11,915
5,720,153
Rollins, Inc.
 
19,369
735,441
RTX Corp.
 
220,732
47,505,941
Rush Enterprises, Inc., Class A
 
26,341
2,101,748
Ryder System, Inc.
 
16,853
4,321,446
Saia, Inc.(b)
 
3,770
1,310,565
Science Applications International Corp.
 
24,119
2,825,058
Sensata Technologies Holding PLC(c)
 
61,152
2,830,726
Simpson Manufacturing Co., Inc.
 
6,778
1,272,502
SiteOne Landscape Supply, Inc.(b)(c)
 
8,211
775,447
SkyWest, Inc.(b)
 
11,582
1,238,927
Snap-on, Inc.
 
10,903
4,474,700
Southwest Airlines Co.
 
32,263
1,450,867
SS&C Technologies Holdings, Inc.
 
49,159
3,787,701
Stanley Black & Decker, Inc.
 
83,421
7,889,958
Sunrun, Inc.(b)
 
31,386
307,897
Terex Corp.
 
24,416
1,534,301
Tetra Tech, Inc.
 
37,243
1,234,978
Textron, Inc.
 
53,020
4,520,485
Timken Co. (The)
 
19,070
2,623,079
Toro Co. (The)
 
23,408
2,150,493
Trane Technologies PLC
 
7,636
3,473,998
TransDigm Group, Inc.
 
3,230
4,051,647
TransUnion
 
23,842
1,874,458
TriNet Group, Inc.(c)
 
20,963
1,379,994
Uber Technologies, Inc.(b)
 
114,397
8,048,973
UFP Industries, Inc.(c)
 
26,952
2,337,816
U-Haul Holding Co., Series N
 
34,723
2,172,965
Union Pacific Corp.
 
115,131
33,633,219
United Airlines Holdings, Inc.(b)
 
12,615
1,530,578
United Parcel Service, Inc., Class B
 
243,115
25,337,445
United Rentals, Inc.
 
8,705
9,394,958
Valmont Industries, Inc.
 
3,161
1,522,654
Veralto Corp.
 
21,937
2,065,807
Verisk Analytics, Inc.
 
15,252
2,971,852
Vertiv Holdings Co., Class A
 
7,364
1,778,921
W.W. Grainger, Inc.
 
5,471
7,562,126
Waste Management, Inc.
 
47,420
10,743,001
Watsco, Inc.(c)
 
6,440
1,991,892
Werner Enterprises, Inc.
 
44,315
1,658,267
WESCO International, Inc.
 
14,017
4,814,699
Westinghouse Air Brake Technologies
Corp.
 
24,803
7,214,201
WillScot Holdings Corp.(c)
 
79,357
1,926,788
Woodward, Inc.
 
5,399
1,947,689
XPO, Inc.(b)
 
7,079
1,422,667
Xylem, Inc.
 
32,016
3,744,912
 
 
939,371,648
Information Technology-19.66%
Accenture PLC, Class A
 
145,014
24,060,723
Adobe, Inc.(b)
 
84,749
21,221,997
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Information Technology-(continued)
Advanced Micro Devices, Inc.(b)
 
90,634
$43,155,379
Akamai Technologies, Inc.(b)
 
35,933
4,138,763
Amdocs Ltd.(c)
 
53,647
2,989,211
Amkor Technology, Inc.
 
33,578
1,674,535
Amphenol Corp., Class A
 
49,539
7,960,917
Analog Devices, Inc.
 
64,396
23,659,734
Apple, Inc.
 
1,377,910
425,650,178
Applied Materials, Inc.
 
87,479
44,410,464
Arista Networks, Inc.(b)
 
29,438
5,309,143
Arrow Electronics, Inc.(b)(c)
 
36,035
7,804,100
Autodesk, Inc.(b)
 
17,013
3,984,445
Avnet, Inc.
 
66,017
5,864,950
Broadcom, Inc.
 
141,294
55,002,928
Cadence Design Systems, Inc.(b)
 
14,939
5,079,559
CDW Corp.
 
33,964
5,020,219
Ciena Corp.(b)
 
14,610
5,508,701
Cirrus Logic, Inc.(b)
 
13,361
1,728,245
Cisco Systems, Inc.
 
715,860
83,032,601
Cognex Corp.
 
26,712
1,742,691
Cognizant Technology Solutions Corp.,
Class A
 
208,385
11,534,110
Coherent Corp.(b)
 
11,458
3,012,194
Corning, Inc.
 
85,989
11,887,979
CrowdStrike Holdings, Inc., Class A(b)
 
10,888
2,078,084
Datadog, Inc., Class A(b)
 
7,827
2,097,401
Dell Technologies, Inc., Class C
 
38,747
15,706,871
Diodes, Inc.(b)
 
17,913
1,474,598
DocuSign, Inc.(b)
 
13,114
719,041
Dolby Laboratories, Inc., Class A
 
20,164
1,185,845
Dropbox, Inc., Class A(b)
 
69,596
2,266,046
DXC Technology Co.(b)(c)
 
148,578
1,670,017
Enphase Energy, Inc.(b)(c)
 
33,467
1,256,351
Entegris, Inc.
 
17,113
2,037,303
EPAM Systems, Inc.(b)
 
14,785
1,560,705
Everforth, Inc.(b)
 
38,736
1,101,652
Everpure, Inc., Class A(b)
 
19,273
1,487,297
F5, Inc.(b)
 
9,076
3,653,725
Fair Isaac Corp.(b)
 
1,138
1,277,940
First Solar, Inc.(b)
 
10,762
2,271,105
Flex Ltd.(b)
 
54,725
6,224,969
Fortinet, Inc.(b)
 
38,987
6,313,945
Gartner, Inc.(b)
 
15,371
2,321,328
Gen Digital, Inc.
 
127,187
3,491,283
GoDaddy, Inc., Class A(b)
 
30,943
2,560,224
Hewlett Packard Enterprise Co.
 
629,098
30,133,794
HP, Inc.(c)
 
684,169
18,657,289
HubSpot, Inc.(b)(c)
 
2,715
644,432
Insight Enterprises, Inc.(b)
 
19,367
2,496,987
Intel Corp.(b)
 
1,930,183
174,102,507
International Business Machines Corp.
 
146,272
32,713,733
Intuit, Inc.
 
27,762
8,774,735
Jabil, Inc.
 
18,596
5,858,670
Keysight Technologies, Inc.(b)
 
22,129
7,060,921
KLA Corp.
 
77,433
14,156,301
Kyndryl Holdings, Inc.(b)(c)
 
145,765
1,975,116
Lam Research Corp.
 
96,568
28,296,355
Littelfuse, Inc.
 
4,416
1,952,446
Lumentum Holdings, Inc.(b)
 
5,647
4,031,619
Marvell Technology, Inc.
 
68,064
12,766,084
Microchip Technology, Inc.
 
101,072
7,508,639
Micron Technology, Inc.
 
105,195
86,578,641
Microsoft Corp.
 
555,408
258,109,206
 
Shares
Value
Information Technology-(continued)
MKS, Inc.
 
10,137
$3,015,251
MongoDB, Inc.(b)
 
1,705
575,403
Monolithic Power Systems, Inc.
 
1,573
2,243,145
Motorola Solutions, Inc.
 
12,333
5,374,105
NetApp, Inc.
 
46,109
8,230,457
NetScout Systems, Inc.(b)
 
32,249
1,311,567
NVIDIA Corp.
 
291,003
58,418,852
Okta, Inc.(b)
 
20,404
2,895,940
ON Semiconductor Corp.(b)
 
82,631
6,743,516
Oracle Corp.
 
166,514
21,625,173
Palantir Technologies, Inc., Class A(b)
 
9,701
1,193,805
Palo Alto Networks, Inc.(b)
 
21,871
7,257,454
Plexus Corp.(b)
 
6,085
1,529,404
PTC, Inc.(b)
 
8,812
1,209,006
Qnity Electronics, Inc.
 
66,177
8,681,099
Qorvo, Inc.(b)
 
49,572
4,489,736
QUALCOMM, Inc.
 
226,469
33,429,089
Ralliant Corp.
 
22,155
1,448,272
Roper Technologies, Inc.
 
16,335
6,402,830
Salesforce, Inc.
 
137,510
25,304,590
Sandisk Corp.(b)
 
2,633
3,198,647
Sanmina Corp.(b)
 
14,184
2,631,983
Seagate Technology Holdings PLC
 
23,357
19,996,628
ServiceNow, Inc.(b)
 
41,323
4,596,357
Silicon Laboratories, Inc.(b)
 
8,017
1,743,698
Skyworks Solutions, Inc.(c)
 
71,212
4,435,083
Snowflake, Inc., Class A(b)
 
9,324
2,734,543
Strategy, Inc., Class A(b)
 
8,830
823,662
Super Micro Computer, Inc.(b)(c)
 
57,348
1,628,683
Synaptics, Inc.(b)(c)
 
12,371
1,327,656
Synopsys, Inc.(b)
 
12,024
4,674,450
TD SYNNEX Corp.
 
32,835
8,395,909
TE Connectivity PLC (China)
 
45,295
9,316,729
Teledyne Technologies, Inc.(b)
 
5,924
3,883,597
Teradata Corp.(b)(c)
 
47,037
1,457,677
Teradyne, Inc.
 
17,802
6,545,617
Texas Instruments, Inc.
 
125,242
34,534,229
Trimble, Inc.(b)
 
44,209
2,501,345
Twilio, Inc., Class A(b)
 
23,964
4,729,295
Tyler Technologies, Inc.(b)
 
3,047
943,351
Unity Software, Inc.(b)(c)
 
62,098
1,969,128
VeriSign, Inc.
 
5,291
1,534,496
Viasat, Inc.(b)(c)
 
39,607
3,046,967
Vishay Intertechnology, Inc.(c)
 
80,799
2,764,942
Vistance Networks, Inc.(b)(c)
 
79,974
938,895
Vontier Corp.
 
33,489
1,076,002
Western Digital Corp.
 
34,048
18,550,712
Workday, Inc., Class A(b)
 
24,945
3,999,681
Xerox Holdings Corp., Class C(c)
 
260,571
768,684
Zebra Technologies Corp., Class A(b)
 
12,007
3,527,897
Zoom Communications, Inc., Class A(b)
 
37,304
3,583,795
 
 
1,927,246,003
Materials-3.36%
Air Products and Chemicals, Inc.
 
35,242
10,392,513
Albemarle Corp.
 
28,529
3,356,152
Alcoa Corp.
 
76,976
3,483,934
Alpha Metallurgical Resources, Inc.(b)(c)
 
8,774
1,203,442
Amcor PLC(c)
 
150,641
6,760,768
AptarGroup, Inc.
 
13,170
1,764,253
Ashland, Inc.(c)
 
36,315
2,636,832
Avery Dennison Corp.
 
17,387
2,951,096
Avient Corp.
 
37,436
1,359,676
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Materials-(continued)
Axalta Coating Systems Ltd.(b)(c)
 
50,452
$1,806,686
Ball Corp.
 
84,475
5,482,427
Cabot Corp.(c)
 
16,839
1,482,169
Celanese Corp.(c)
 
98,204
4,391,683
CF Industries Holdings, Inc.
 
57,344
7,178,895
Chemours Co. (The)(c)
 
112,063
1,861,366
Cleveland-Cliffs, Inc.(b)(c)
 
457,610
5,271,667
Commercial Metals Co.
 
46,241
3,177,682
Corteva, Inc.
 
176,169
13,866,262
CRH PLC
 
130,177
12,368,117
Crown Holdings, Inc.
 
26,826
3,161,444
Dow, Inc.
 
740,731
22,436,742
Eagle Materials, Inc.(c)
 
7,942
1,627,633
Eastman Chemical Co.
 
81,979
5,734,431
Ecolab, Inc.
 
23,112
6,416,585
Element Solutions, Inc.
 
43,456
1,596,139
FMC Corp.(c)
 
188,757
2,021,587
Freeport-McMoRan, Inc.
 
226,833
14,206,551
Graphic Packaging Holding Co.(c)
 
179,922
1,930,563
H.B. Fuller Co.
 
18,781
1,038,589
Huntsman Corp.
 
291,320
2,843,283
International Flavors & Fragrances, Inc.
 
95,704
7,581,671
International Paper Co.
 
198,664
8,111,451
James Hardie Industries PLC, ADR(b)(c)
 
47,985
1,261,526
Linde PLC
 
54,594
26,116,678
LyondellBasell Industries N.V., Class A
 
223,671
13,885,496
Martin Marietta Materials, Inc.
 
6,557
3,443,343
Mosaic Co. (The)
 
303,888
6,722,003
NewMarket Corp.
 
1,762
1,497,982
Newmont Corp.
 
137,259
12,862,541
Nucor Corp.
 
108,827
28,000,099
O-I Glass, Inc.(b)
 
93,430
668,025
Olin Corp.(c)
 
156,274
2,892,632
Packaging Corp. of America
 
19,668
4,835,181
PPG Industries, Inc.
 
62,122
6,865,723
Reliance, Inc.
 
22,606
9,180,297
Royal Gold, Inc.
 
4,721
936,410
RPM International, Inc.
 
23,446
2,510,363
Sherwin-Williams Co. (The)
 
15,698
5,350,663
Silgan Holdings, Inc.(c)
 
29,986
1,198,840
Smurfit WestRock PLC
 
78,534
3,610,208
Solstice Advanced Materials, Inc.
 
34,153
2,054,986
Sonoco Products Co.
 
47,140
2,656,810
Southern Copper Corp. (Mexico)
 
8,719
1,593,048
Steel Dynamics, Inc.
 
54,851
13,781,862
Sylvamo Corp.
 
19,912
744,908
Tronox Holdings PLC, Class A
 
181,619
1,060,655
Vulcan Materials Co.
 
13,424
3,605,284
Warrior Met Coal, Inc.
 
14,427
1,145,648
Westlake Corp.(c)
 
19,107
1,347,043
 
 
329,330,543
Real Estate-2.45%
Agree Realty Corp.
 
16,392
1,275,298
Alexandria Real Estate Equities, Inc.
 
103,988
5,350,183
American Homes 4 Rent, Class A
 
58,710
1,962,088
American Tower Corp.
 
51,665
8,956,644
Americold Realty Trust, Inc.(c)
 
135,842
1,914,014
Apple Hospitality REIT, Inc.
 
91,212
1,505,910
AvalonBay Communities, Inc.
 
26,970
5,005,902
Brixmor Property Group, Inc.
 
58,787
1,852,378
BXP, Inc.
 
55,528
3,893,623
Camden Property Trust
 
21,972
2,434,717
 
Shares
Value
Real Estate-(continued)
CBRE Group, Inc., Class A(b)
 
55,576
$8,159,113
CoStar Group, Inc.(b)
 
44,598
1,282,638
Cousins Properties, Inc.
 
61,724
1,947,392
Crown Castle, Inc.
 
81,597
6,225,851
CubeSmart
 
38,335
1,589,369
Cushman & Wakefield Ltd.(b)
 
112,944
1,515,708
Digital Realty Trust, Inc.
 
47,840
9,018,797
Douglas Emmett, Inc.(c)
 
90,973
1,075,301
EastGroup Properties, Inc.
 
5,620
1,174,636
EPR Properties
 
18,072
1,121,729
Equinix, Inc.
 
7,827
7,977,905
Equity LifeStyle Properties, Inc.
 
20,329
1,322,808
Equity Residential
 
85,497
5,681,276
Essex Property Trust, Inc.
 
11,266
3,201,121
Extra Space Storage, Inc.
 
31,196
4,618,256
Federal Realty Investment Trust
 
16,544
2,052,945
First Industrial Realty Trust, Inc.
 
18,960
1,248,326
Gaming and Leisure Properties, Inc.
 
44,614
1,998,261
Healthcare Realty Trust, Inc.
 
117,911
2,477,310
Healthpeak Properties, Inc.
 
199,072
4,345,742
Highwoods Properties, Inc.(c)
 
47,482
1,573,079
Host Hotels & Resorts, Inc.
 
182,380
4,583,209
Hudson Pacific Properties, Inc.(b)(c)
 
69,624
958,722
Invitation Homes, Inc.
 
121,014
3,596,536
Iron Mountain, Inc.
 
27,634
3,380,191
JBG SMITH Properties(c)
 
45,637
641,200
Jones Lang LaSalle, Inc.(b)
 
14,680
5,211,840
Kilroy Realty Corp.
 
52,737
2,047,250
Kimco Realty Corp.
 
146,102
3,722,679
Kite Realty Group Trust
 
47,278
1,353,096
Lamar Advertising Co., Class A
 
11,997
1,919,040
Macerich Co. (The)(c)
 
61,027
1,576,938
Medical Properties Trust, Inc.(c)
 
410,640
1,901,263
Mid-America Apartment Communities,
Inc.
 
23,926
3,166,367
NNN REIT, Inc.
 
36,602
1,739,327
Omega Healthcare Investors, Inc.
 
38,887
1,968,849
Park Hotels & Resorts, Inc.
 
154,157
2,321,604
Prologis, Inc.
 
127,337
18,414,204
Public Storage
 
16,064
5,207,467
Rayonier, Inc.(c)
 
77,968
1,698,143
Realty Income Corp.
 
147,366
9,412,266
Regency Centers Corp.
 
33,354
2,677,993
Rexford Industrial Realty, Inc.
 
50,293
1,899,567
Sabra Health Care REIT, Inc.(c)
 
58,027
1,228,432
SBA Communications Corp., Class A
 
11,447
2,071,678
Simon Property Group, Inc.
 
31,699
7,270,800
SL Green Realty Corp.(c)
 
33,933
1,796,074
STAG Industrial, Inc.
 
34,996
1,338,947
Sun Communities, Inc.
 
23,734
2,930,674
UDR, Inc.
 
63,764
2,433,234
Ventas, Inc.
 
63,602
5,947,423
VICI Properties, Inc.
 
220,111
5,799,925
Vornado Realty Trust(c)
 
55,679
2,193,196
W.P. Carey, Inc.
 
43,636
3,211,610
Welltower, Inc.
 
48,910
11,466,460
Weyerhaeuser Co.
 
319,057
7,985,997
Zillow Group, Inc., Class C(b)(c)
 
36,577
1,245,813
 
 
240,076,334
Utilities-3.03%
AES Corp. (The)
 
259,314
3,806,730
Alliant Energy Corp.
 
49,413
3,497,452
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Utilities-(continued)
Ameren Corp.
 
51,689
$5,665,631
American Electric Power Co., Inc.
 
108,321
13,848,840
American Water Works Co., Inc.
 
31,754
4,260,434
Atmos Energy Corp.
 
23,192
4,007,114
Avista Corp.
 
28,383
1,148,092
Black Hills Corp.
 
21,914
1,560,496
CenterPoint Energy, Inc.
 
122,868
5,165,371
CMS Energy Corp.
 
59,600
4,290,604
Consolidated Edison, Inc.
 
95,935
10,442,525
Constellation Energy Corp.
 
20,672
5,431,568
Dominion Energy, Inc.
 
247,562
17,123,864
DTE Energy Co.
 
41,249
5,851,996
Duke Energy Corp.
 
197,917
24,824,729
Edison International
 
142,464
10,452,584
Entergy Corp.
 
77,932
8,387,042
Essential Utilities, Inc.
 
60,285
2,402,357
Evergy, Inc.
 
64,508
5,354,809
Eversource Energy
 
105,204
7,531,554
Exelon Corp.
 
284,165
13,020,440
FirstEnergy Corp.
 
140,800
6,802,048
Hawaiian Electric Industries, Inc.(b)(c)
 
84,893
1,096,818
IDACORP, Inc.
 
9,926
1,418,525
National Fuel Gas Co.
 
19,220
1,581,998
New Jersey Resources Corp.
 
22,887
1,324,928
NextEra Energy, Inc.
 
276,174
24,005,044
NiSource, Inc.
 
84,962
3,774,862
NorthWestern Energy Group, Inc.
 
18,465
1,269,284
NRG Energy, Inc.
 
23,563
3,164,275
OGE Energy Corp.
 
53,691
2,542,269
ONE Gas, Inc.
 
16,389
1,272,606
PG&E Corp.
 
574,995
9,993,413
Pinnacle West Capital Corp.
 
34,049
3,438,608
Portland General Electric Co.(c)
 
34,866
1,719,940
PPL Corp.
 
194,761
6,857,535
Public Service Enterprise Group, Inc.
 
102,204
7,837,003
Sempra
 
135,562
12,004,015
Southern Co. (The)
 
212,446
20,084,645
Southwest Gas Holdings, Inc.
 
19,353
1,730,158
 
Shares
Value
Utilities-(continued)
Spire, Inc.
 
15,434
$1,232,559
Talen Energy Corp.(b)
 
2,176
727,002
TXNM Energy, Inc.
 
20,716
1,199,871
UGI Corp.(c)
 
90,751
3,277,926
Vistra Corp.
 
34,123
5,056,687
WEC Energy Group, Inc.
 
59,782
6,541,346
Xcel Energy, Inc.
 
118,840
9,293,288
 
 
297,320,885
Total Common Stocks & Other Equity Interests
(Cost $6,719,334,323)
9,792,880,643
Money Market Funds-0.08%
Invesco Government & Agency Portfolio,
Institutional Class, 3.64%(d)(f)
(Cost $8,047,979)
 
8,047,979
8,047,979
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-99.98%
(Cost $6,727,382,302)
9,800,928,622
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-2.98%
Invesco Private Government Fund,
3.69%(d)(f)(g)
 
79,501,761
79,501,761
Invesco Private Prime Fund,
3.82%(d)(f)(g)
 
211,840,610
211,861,794
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $291,362,555)
291,363,555
TOTAL INVESTMENTS IN SECURITIES-102.96%
(Cost $7,018,744,857)
10,092,292,177
OTHER ASSETS LESS LIABILITIES-(2.96)%
(289,714,405
)
NET ASSETS-100.00%
$9,802,577,772
 
Investment Abbreviations:
ADR
-American Depositary Receipt
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 July 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 three months ended July 31, 2026.
 
 
Value
April 30, 2026
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
July 31, 2026
Dividend Income
Invesco Ltd.
$4,534,199
$50,217
$(549,635
)
$425,664
$136,376
$4,596,821
$36,228
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio, Institutional
Class
2,990,078
57,541,911
(52,484,010
)
-
-
8,047,979
60,417
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1000 ETF (PRF)—(continued)
July 31, 2026
(Unaudited)
 
Value
April 30, 2026
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
Realized
Gain
Value
July 31, 2026
Dividend Income
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
$98,554,951
$137,928,187
$(156,981,377
)
$-
$-
$79,501,761
$807,976
*
Invesco Private Prime Fund
279,446,060
294,363,437
(361,956,804
)
7,435
1,666
211,861,794
2,196,686
*
Total
$385,525,288
$489,883,752
$(571,971,826
)
$433,099
$138,042
$304,008,355
$3,101,307
 
*
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)
Security valued using significant unobservable inputs (Level 3). See Note 1.
(f)
The rate shown is the 7-day SEC standardized yield as of July 31, 2026.
(g)
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 RAFI US 1500 Small-Mid ETF (PRFZ)
July 31, 2026
(Unaudited)
 
 
Shares
Value
Common Stocks & Other Equity Interests-99.94%
Communication Services-3.29%
Advantage Solutions, Inc.(b)(c)
 
2,443
$95,863
AMC Entertainment Holdings, Inc.(b)
 
120,933
341,031
AMC Global Media, Inc., Class A(b)(c)
 
60,195
674,184
Angi, Inc.(b)(c)
 
88,463
501,585
AppLovin Corp., Class A(b)
 
6,092
2,411,823
Array Digital Infrastructure, Inc.(c)
 
30,620
1,066,801
AST SpaceMobile, Inc.(b)(c)
 
3,019
178,061
Atlanta Braves Holdings, Inc.,
Series C(b)(c)
 
18,471
938,881
ATN International, Inc.
 
8,211
195,504
Bandwidth, Inc., Class A(b)(c)
 
32,896
1,287,549
Boston Omaha Corp., Class A(b)(c)
 
11,350
160,943
Bumble, Inc., Class A(b)(c)
 
355,215
1,012,363
Cable One, Inc.(b)(c)
 
22,436
897,216
Cardlytics, Inc.(b)
 
15,557
58,183
CarGurus, Inc.(b)(c)
 
123,051
4,459,368
Cars.com, Inc.(b)(c)
 
116,529
1,380,869
Cinemark Holdings, Inc.(c)
 
83,880
3,069,169
Clear Channel Outdoor Holdings, Inc.(b)
 
327,925
793,579
Cogent Communications Holdings, Inc.(c)
 
130,358
1,759,833
DHI Group, Inc.(b)
 
18,409
77,502
DoubleVerify Holdings, Inc.(b)
 
244,758
2,753,527
E.W. Scripps Co. (The), Class A(b)(c)
 
97,442
273,812
Entravision Communications Corp.,
Class A(c)
 
32,079
359,926
EverQuote, Inc., Class A(b)(c)
 
35,706
900,505
FuboTV, Inc., Class A(b)(c)
 
68,020
601,977
GCI Liberty, Inc., Class C(b)(c)
 
32,388
750,430
Getty Images Holdings, Inc.(b)(c)
 
154,853
57,605
Gogo, Inc.(b)(c)
 
103,464
432,480
Gray Media, Inc.(c)
 
183,273
740,423
Ibotta, Inc., Class A(b)(c)
 
11,116
266,784
IDT Corp., Class B(c)
 
20,599
1,356,650
iHeartMedia, Inc., Class A(b)(c)
 
94,565
339,488
IHS Holding Ltd. (Nigeria)(b)(c)
 
123,383
1,011,741
Iridium Communications, Inc.
 
224,991
10,651,074
John Wiley & Sons, Inc., Class A(c)
 
68,617
3,581,807
Live Nation Entertainment, Inc.(b)(c)
 
13,195
2,297,645
Madison Square Garden Entertainment
Corp.(b)(c)
 
3,419
264,152
Madison Square Garden Sports Corp.,
Class A(b)
 
2,522
992,861
Magnite, Inc.(b)(c)
 
138,526
2,673,552
Marcus Corp. (The)
 
29,974
872,243
National CineMedia, Inc.(c)
 
64,250
257,643
Nextdoor Holdings, Inc.(b)
 
354,826
787,714
NIQ Global Intelligence PLC(b)(c)
 
44,342
495,300
Playstudios, Inc.(b)
 
57,643
34,897
PubMatic, Inc., Class A(b)(c)
 
78,286
986,404
QuinStreet, Inc.(b)(c)
 
86,483
1,340,486
Reddit, Inc., Class A(b)(c)
 
17,782
2,501,394
Roblox Corp., Class A(b)(c)
 
88,492
3,150,315
Scholastic Corp.(c)
 
54,871
2,230,506
Shenandoah Telecommunications Co.(c)
 
40,992
491,494
Shutterstock, Inc.
 
35,694
192,748
Sinclair, Inc.(c)
 
55,273
759,451
Sphere Entertainment Co.(b)(c)
 
32,451
4,648,606
Spok Holdings, Inc.
 
19,231
209,618
Stagwell, Inc.(b)(c)
 
203,987
1,723,690
Starz Entertainment Corp.(b)
 
8,119
211,256
TechTarget, Inc.(b)(c)
 
28,979
130,116
 
Shares
Value
Communication Services-(continued)
TKO Group Holdings, Inc.(c)
 
19,232
$3,496,570
TripAdvisor, Inc.(b)(c)
 
303,178
4,294,516
Trump Media & Technology Group
Corp.(b)
 
30,981
305,473
Uniti Group, Inc.(b)(c)
 
312,539
3,037,879
USA TODAY Co., Inc.(b)(c)
 
226,044
1,964,322
Warner Music Group Corp., Class A(c)
 
80,083
2,078,955
Webtoon Entertainment, Inc. (South
Korea)(b)(c)
 
47,641
434,486
ZipRecruiter, Inc., Class A(b)(c)
 
148,524
585,185
ZoomInfo Technologies, Inc., Class A(b)
 
644,541
2,126,985
 
 
91,014,998
Consumer Discretionary-11.14%
1-800-Flowers.com, Inc., Class A(b)(c)
 
98,568
384,415
Accel Entertainment, Inc.(b)(c)
 
45,555
547,571
Acushnet Holdings Corp.(c)
 
43,665
4,421,955
American Outdoor Brands, Inc.(b)(c)
 
8,858
109,485
American Public Education, Inc.(b)
 
24,939
1,209,791
America’s Car-Mart, Inc.(b)(c)
 
16,258
51,863
Arhaus, Inc.(c)
 
74,548
552,401
Arko Corp.
 
73,041
583,598
Bally’s Corp.(b)(c)
 
5,496
76,559
Barnes & Noble Education, Inc.(c)
 
46,863
582,976
Bassett Furniture Industries, Inc.
 
3,946
74,856
Beazer Homes USA, Inc.(b)(c)
 
54,178
1,739,114
Biglari Holdings, Inc., Class B(b)(c)
 
1,472
585,105
Birkenstock Holding PLC (Germany)(b)(c)
 
38,005
1,471,554
BJ’s Restaurants, Inc.(b)(c)
 
44,772
3,027,035
Bloomin’ Brands, Inc.(c)
 
330,995
2,866,417
Boot Barn Holdings, Inc.(b)
 
22,949
3,419,171
Bright Horizons Family Solutions, Inc.(b)
 
53,461
3,984,983
Brinker International, Inc.(b)(c)
 
13,458
2,875,975
Buckle, Inc. (The)
 
64,729
2,833,188
Build-A-Bear Workshop, Inc.(c)
 
25,126
852,274
Caleres, Inc.(c)
 
106,001
1,361,053
Callaway Golf Co.(b)(c)
 
378,282
6,983,086
Camping World Holdings, Inc., Class A(c)
 
181,847
1,125,633
Carriage Services, Inc.(c)
 
12,842
518,432
Carvana Co.(b)(c)
 
19,851
1,237,908
Cava Group, Inc.(b)(c)
 
16,431
1,071,794
Cavco Industries, Inc.(b)
 
12,303
6,730,110
Champion Homes, Inc.(b)
 
79,683
6,343,564
Cheesecake Factory, Inc. (The)
 
45,902
4,655,381
Chegg, Inc.(b)
 
192,976
189,695
Chewy, Inc., Class A(b)(c)
 
65,388
1,477,769
Children’s Place, Inc. (The)(b)(c)
 
47,396
115,646
Choice Hotels International, Inc.(c)
 
25,149
2,803,862
Churchill Downs, Inc.(c)
 
62,050
5,230,815
Citi Trends, Inc.(b)
 
10,845
723,036
Clarus Corp.(c)
 
24,860
79,801
Cooper-Standard Holdings, Inc.(b)
 
26,564
782,841
Coursera, Inc.(b)(c)
 
415,415
2,205,854
Covista, Inc.(b)
 
52,389
6,540,767
Cracker Barrel Old Country Store, Inc.(c)
 
145,428
8,200,685
Cricut, Inc., Class A(c)
 
78,351
367,466
Dauch Corp. (Mexico)(b)
 
569,240
3,216,206
Dave & Buster’s Entertainment, Inc.(b)(c)
 
160,854
1,743,657
Designer Brands, Inc., Class A(c)
 
131,215
792,539
Destination XL Group, Inc.(b)
 
28,257
15,928
Dillard’s, Inc., Class A(c)
 
7,436
4,374,896
Dine Brands Global, Inc.(c)
 
57,006
2,048,796
Dorman Products, Inc.(b)(c)
 
28,509
3,796,258
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Consumer Discretionary-(continued)
DraftKings, Inc., Class A(b)(c)
 
170,866
$4,011,934
Dream Finders Homes, Inc., Class A(b)(c)
 
56,601
723,927
Driven Brands Holdings, Inc.(b)(c)
 
76,390
1,090,085
Duolingo, Inc.(b)(c)
 
13,948
1,880,330
Dutch Bros, Inc., Class A(b)(c)
 
14,240
937,419
El Pollo Loco Holdings, Inc.(b)
 
37,394
615,505
Escalade, Inc.
 
3,196
63,473
Ethan Allen Interiors, Inc.(c)
 
41,285
924,784
Figs, Inc., Class A(b)(c)
 
105,483
1,128,668
First Watch Restaurant Group, Inc.(b)(c)
 
87,393
1,123,000
Flexsteel Industries, Inc.(c)
 
4,378
324,103
Fossil Group, Inc.(b)(c)
 
38,231
189,243
Fox Factory Holding Corp.(b)(c)
 
82,184
1,479,312
Frontdoor, Inc.(b)
 
51,569
3,745,456
Funko, Inc., Class A(b)(c)
 
123,908
722,384
GameStop Corp., Class A(b)(c)
 
161,746
3,513,123
Genesco, Inc.(b)(c)
 
27,527
1,052,082
Genius Sports Ltd. (United Kingdom)(b)(c)
 
175,459
1,215,931
Gentherm, Inc.(b)(c)
 
32,089
1,302,172
GigaCloud Technology, Inc., Class A(b)(c)
 
29,555
1,292,736
G-III Apparel Group Ltd.(c)
 
64,816
2,359,951
Global Business Travel Group, Inc.(b)(c)
 
90,904
858,134
Gold com, Inc.(c)
 
64,664
2,674,503
GoPro, Inc., Class A(b)
 
749,273
561,205
Green Brick Partners, Inc.(b)(c)
 
31,497
2,227,783
Groupon, Inc.(b)(c)
 
11,731
323,541
H&R Block, Inc.(c)
 
162,411
7,150,956
Hamilton Beach Brands Holding Co.,
Class A(c)
 
5,716
131,411
Haverty Furniture Cos., Inc.(c)
 
15,481
381,452
Hilton Grand Vacations, Inc.(b)(c)
 
124,320
5,736,125
Holley, Inc.(b)
 
84,177
224,753
Hooker Furnishings Corp.(c)
 
7,852
109,692
Hovnanian Enterprises, Inc., Class A(b)
 
14,209
1,760,495
Hyatt Hotels Corp., Class A(c)
 
32,306
5,623,182
Installed Building Products, Inc.(c)
 
18,194
4,056,170
Jack in the Box, Inc.(b)(c)
 
128,835
2,109,029
JAKKS Pacific, Inc.(c)
 
16,034
422,175
Johnson Outdoors, Inc., Class A
 
8,125
381,144
KinderCare Learning Cos., Inc.(b)(c)
 
101,006
540,382
Kontoor Brands, Inc.(c)
 
72,144
6,041,339
Krispy Kreme, Inc.(b)(c)
 
409,130
1,301,033
Lakeland Industries, Inc.(c)
 
13,836
157,730
Lands’ End, Inc.(b)(c)
 
36,168
434,739
Latham Group, Inc.(b)(c)
 
72,912
390,808
La-Z-Boy, Inc.
 
59,771
2,353,782
Legacy Housing Corp.(b)(c)
 
12,269
322,184
Leslie’s, Inc.(b)
 
11,911
11,327
Levi Strauss & Co., Class A
 
157,997
3,874,086
Life Time Group Holdings, Inc.(b)(c)
 
83,643
3,772,299
Lincoln Educational Services Corp.(b)(c)
 
22,264
931,080
Lovesac Co. (The)(b)(c)
 
54,063
869,874
Lucid Group, Inc.(b)(c)
 
400,492
2,955,631
Malibu Boats, Inc., Class A(b)(c)
 
28,898
796,718
MarineMax, Inc.(b)(c)
 
46,552
1,604,647
MasterCraft Boat Holdings, Inc.(b)(c)
 
15,774
377,314
Matthews International Corp., Class A
 
29,629
822,205
McGraw Hill, Inc.(b)
 
22,174
243,027
Monarch Casino & Resort, Inc.
 
13,010
1,596,977
Monro, Inc.(c)
 
114,619
1,404,083
Motorcar Parts of America, Inc.(b)(c)
 
17,698
237,153
Movado Group, Inc.
 
20,060
765,891
 
Shares
Value
Consumer Discretionary-(continued)
National Vision Holdings, Inc.(b)(c)
 
174,663
$3,849,572
Norwegian Cruise Line Holdings Ltd.(b)
 
116,315
2,155,317
OneSpaWorld Holdings Ltd. (Bahamas)(c)
 
29,935
771,126
OneWater Marine, Inc., Class A(b)(c)
 
19,216
235,396
Outdoor Holding Co.(b)
 
70,950
151,833
Oxford Industries, Inc.(c)
 
50,205
1,903,774
Papa John’s International, Inc.(c)
 
62,740
1,875,926
Patrick Industries, Inc.(c)
 
49,860
4,115,943
Peloton Interactive, Inc., Class A(b)(c)
 
581,729
3,717,248
Perdoceo Education Corp.
 
80,864
2,572,284
Petco Health & Wellness Co., Inc.(b)(c)
 
338,864
945,431
Planet Fitness, Inc., Class A(b)(c)
 
41,127
2,299,411
Portillo’s, Inc., Class A(b)(c)
 
240,998
1,101,361
Pursuit Attractions and Hospitality,
Inc.(b)(c)
 
14,317
723,438
QuantumScape Corp.(b)(c)
 
246,547
1,286,975
RCI Hospitality Holdings, Inc.(c)
 
10,728
269,166
Red Rock Resorts, Inc., Class A(c)
 
59,615
3,841,591
Revolve Group, Inc.(b)
 
62,210
1,562,093
Rocky Brands, Inc.
 
8,473
413,821
Sabre Corp.(b)(c)
 
332,882
615,832
Sally Beauty Holdings, Inc.(b)(c)
 
245,279
3,671,827
Savers Value Village, Inc.(b)(c)
 
58,118
596,291
Shake Shack, Inc., Class A(b)(c)
 
16,394
1,028,723
SharkNinja, Inc.(b)(c)
 
59,251
9,585,034
Shoe Carnival, Inc.(c)
 
57,326
871,355
Six Flags Entertainment Corp.(b)(c)
 
223,914
3,880,430
Smith & Wesson Brands, Inc., Class B(c)
 
89,462
1,301,672
Solid Power, Inc.(b)(c)
 
177,053
364,729
Sonic Automotive, Inc., Class A
 
31,120
2,849,970
Sonos, Inc.(b)(c)
 
223,215
3,272,332
Standard Motor Products, Inc.
 
19,636
750,684
Stitch Fix, Inc., Class A(b)(c)
 
293,530
1,179,991
Stoneridge, Inc.(b)
 
14,124
97,597
Strategic Education, Inc.(c)
 
27,438
2,249,916
Strattec Security Corp.(b)(c)
 
9,821
863,168
Stride, Inc.(b)(c)
 
49,604
3,982,705
Sturm, Ruger & Co., Inc.(c)
 
25,343
941,999
Super Group (SGHC) Ltd. (Guernsey)(c)
 
55,584
778,176
Superior Group of Cos., Inc.(c)
 
6,731
79,762
Sweetgreen, Inc., Class A(b)(c)
 
131,075
845,434
Target Hospitality Corp.(b)(c)
 
45,919
697,969
ThredUp, Inc., Class A(b)(c)
 
44,260
255,823
Traeger, Inc.(b)
 
483
30,984
United Parks & Resorts, Inc.(b)(c)
 
84,011
3,749,411
Universal Electronics, Inc.(b)
 
7,616
34,881
Universal Technical Institute, Inc.(b)(c)
 
8,934
351,196
Viking Holdings Ltd.(b)
 
3,351
349,677
Warby Parker, Inc., Class A(b)(c)
 
33,983
907,006
Wayfair, Inc., Class A(b)
 
36,988
3,140,281
Wendy’s Co. (The)(c)
 
712,504
5,244,029
Weyco Group, Inc.
 
1,632
63,648
Wingstop, Inc.(c)
 
11,385
1,474,244
Winmark Corp.
 
1,274
424,879
Wolverine World Wide, Inc.(c)
 
174,654
3,437,191
WW International, Inc.(b)(c)
 
18,987
272,653
Wynn Resorts Ltd.(c)
 
37,371
3,711,314
XPEL, Inc.(b)(c)(d)
 
18,231
808,909
YETI Holdings, Inc.(b)(c)
 
111,662
5,464,738
Zumiez, Inc.(b)(c)
 
26,641
524,028
 
 
307,757,635
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Consumer Staples-2.74%
Alico, Inc.(c)
 
4,504
$170,071
B&G Foods, Inc.(c)
 
319,664
1,128,414
BellRing Brands, Inc.(b)(c)
 
71,229
882,527
Beyond Meat, Inc.(b)(c)
 
523,153
296,105
Boston Beer Co., Inc. (The), Class A(b)(c)
 
21,749
3,984,417
Celsius Holdings, Inc.(b)(c)
 
16,471
481,118
Central Garden & Pet Co., Class A(b)
 
58,189
2,205,945
Chefs’ Warehouse, Inc. (The)(b)(c)
 
34,853
4,020,294
Coca-Cola Consolidated, Inc.
 
19,391
3,643,569
Coty, Inc., Class A(b)(c)
 
1,012,374
2,784,028
Dole PLC
 
50,204
709,885
e.l.f. Beauty, Inc.(b)(c)
 
29,029
2,406,214
Edgewell Personal Care Co.(c)
 
95,744
2,603,279
Energizer Holdings, Inc.(c)
 
149,995
3,145,395
Freshpet, Inc.(b)(c)
 
39,413
2,346,650
Grocery Outlet Holding Corp.(b)(c)
 
335,377
3,082,115
Herbalife Ltd.(b)(c)
 
203,609
2,528,824
Honest Co., Inc. (The)(b)(c)
 
210,566
768,566
Interparfums, Inc.
 
22,070
2,748,819
J&J Snack Foods Corp.(c)
 
29,415
2,250,248
John B. Sanfilippo & Son, Inc.(c)
 
10,077
833,973
Lifevantage Corp.(c)
 
8,847
56,886
Limoneira Co.(c)
 
9,679
125,537
Marzetti Co. (The)(c)
 
25,924
2,770,498
Medifast, Inc.(b)(c)
 
13,215
129,903
MGP Ingredients, Inc.(c)
 
39,410
697,557
Mission Produce, Inc.(b)(c)
 
99,068
1,249,247
National Beverage Corp.(c)
 
32,541
1,029,597
Natural Grocers by Vitamin Cottage,
Inc.(c)
 
23,867
765,176
Nature’s Sunshine Products, Inc.(b)(c)
 
12,881
259,552
Oil-Dri Corp.of America
 
8,716
864,714
Pilgrim’s Pride Corp.(c)
 
107,965
2,953,922
Reynolds Consumer Products, Inc.(c)
 
126,486
3,154,561
Seaboard Corp.
 
792
3,495,302
Seneca Foods Corp., Class A(b)
 
10,074
1,667,146
Simply Good Foods Co. (The)(b)(c)
 
231,912
2,360,864
Smithfield Foods, Inc.
 
64,737
1,685,751
Tootsie Roll Industries, Inc.(c)
 
19,156
747,467
Turning Point Brands, Inc.(c)
 
11,198
835,483
USANA Health Sciences, Inc.(b)
 
24,204
535,150
Utz Brands, Inc.(c)
 
112,444
1,587,709
Village Super Market, Inc., Class A(c)
 
6,700
294,398
Vita Coco Co., Inc. (The)(b)
 
19,275
1,270,994
Vital Farms, Inc.(b)(c)
 
42,064
535,475
WD-40 Co.
 
10,537
2,393,374
Weis Markets, Inc.
 
16,981
1,308,386
 
 
75,795,105
Energy-5.34%
Amplify Energy Corp., Class C(b)(c)
 
122,964
480,789
Archrock, Inc.
 
181,990
6,507,962
Ardmore Shipping Corp. (Ireland)(c)
 
44,040
765,856
Atlas Energy Solutions, Inc.(c)
 
149,144
1,609,264
BKV Corp. (Thailand)(b)(c)
 
34,391
841,204
Borr Drilling Ltd. (Mexico)(b)(c)
 
135,524
546,162
Bristow Group, Inc.(c)
 
25,738
1,166,446
Cactus, Inc., Class A
 
64,695
4,205,822
Calumet, Inc.(b)(c)
 
36,646
1,619,387
Centrus Energy Corp., Class A(b)(c)
 
1,269
224,524
Clean Energy Fuels Corp.(b)
 
215,714
418,485
Comstock Resources, Inc.(b)(c)
 
125,855
1,668,837
Core Laboratories, Inc.
 
56,798
604,331
 
Shares
Value
Energy-(continued)
Crescent Energy Co., Class A
 
801,014
$9,187,631
CVR Energy, Inc.
 
131,621
4,688,340
DHT Holdings, Inc.
 
126,888
2,356,310
Diversified Energy Co.(c)
 
55,190
742,857
DMC Global, Inc.(b)(c)
 
27,340
184,272
Dorian LPG Ltd.(c)
 
75,253
3,568,497
Evolution Petroleum Corp.(c)
 
39,883
146,769
Excelerate Energy, Inc., Class A
 
6,446
253,134
Expro Ltd.(b)(c)
 
157,399
2,510,514
Flowco Holdings, Inc.(c)
 
10,106
206,668
Forum Energy Technologies, Inc.(b)(c)
 
16,340
1,024,028
FutureFuel Corp.
 
34,628
171,409
Gevo, Inc.(b)(c)
 
358,454
530,512
Golar LNG Ltd. (Cameroon)
 
40,247
1,978,140
Granite Ridge Resources, Inc.(c)
 
89,368
424,498
Green Plains, Inc.(b)
 
220,564
3,716,503
Gulfport Energy Corp.(b)(c)
 
28,406
4,583,876
Helix Energy Solutions Group, Inc.(b)
 
231,357
2,200,205
HighPeak Energy, Inc.(c)
 
89,010
636,422
Innovex International, Inc.(b)
 
51,892
1,457,127
International Seaways, Inc.
 
75,171
7,229,947
Kinetik Holdings, Inc., Class A
 
18,969
959,262
Kodiak Gas Services, Inc.
 
64,557
3,790,141
Kosmos Energy Ltd. (Ghana)(b)
 
1,790,297
4,815,899
Nabors Industries Ltd.(b)(c)
 
53,897
4,617,356
NACCO Industries, Inc., Class A(c)
 
1,795
85,083
National Energy Services Reunited
Corp.(b)
 
86,911
2,343,121
Natural Gas Services Group, Inc.(c)
 
10,825
396,628
Navigator Holdings Ltd.
 
51,281
1,146,130
New Fortress Energy, Inc.(b)(c)
 
1,389,022
447,960
Northern Oil and Gas, Inc.(c)
 
270,065
5,711,875
Oceaneering International, Inc.(b)(c)
 
101,547
4,953,463
Oil States International, Inc.(b)
 
110,799
898,580
Par Pacific Holdings, Inc.(b)
 
146,295
12,585,759
ProFrac Holding Corp., Class A(b)(c)
 
56,159
226,882
ProPetro Holding Corp.(b)(c)
 
298,548
3,313,883
Ranger Energy Services, Inc., Class A
 
26,198
420,478
REX American Resources Corp.(b)(c)
 
24,957
1,074,149
Riley Exploration Permian, Inc.
 
26,294
901,095
Ring Energy, Inc.(b)
 
435,520
540,045
RPC, Inc.(c)
 
269,991
1,514,650
SandRidge Energy, Inc.(c)
 
42,812
595,943
SEACOR Marine Holdings, Inc.(b)(c)
 
17,839
168,222
Select Water Solutions, Inc., Class A
 
146,989
2,722,236
Solaris Energy Infrastructure, Inc.,
Class B(c)
 
14,996
770,944
Summit Midstream Corp.(b)(c)
 
9,253
285,177
Talos Energy, Inc.(b)(c)
 
301,803
4,581,370
Teekay Corp. Ltd. (Bermuda)(c)
 
37,200
433,380
TETRA Technologies, Inc.(b)(c)
 
105,202
810,055
Texas Pacific Land Corp.(c)
 
14,887
5,993,208
Tidewater, Inc.(b)(c)
 
39,467
2,962,393
Uranium Energy Corp.(b)(c)
 
17,278
165,869
VAALCO Energy, Inc.(c)
 
144,008
767,563
Valaris Ltd.(b)
 
67,554
5,349,601
Venture Global, Inc., Class A(c)
 
38,975
521,486
Viper Energy, Inc., Class A
 
11,790
525,952
Vitesse Energy, Inc.(c)
 
53,567
835,645
W&T Offshore, Inc.(c)
 
251,797
903,951
 
 
147,592,162
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Financials-16.15%
1st Source Corp.
 
14,109
$1,266,142
Acadian Asset Management, Inc.
 
34,376
2,973,180
ACNB Corp.(c)
 
4,780
308,214
Adamas Trust, Inc.(c)
 
91,615
830,948
Affirm Holdings, Inc.(b)(c)
 
45,185
3,231,179
Alerus Financial Corp.(c)
 
15,198
505,637
Amalgamated Financial Corp.
 
22,341
1,103,199
Amerant Bancorp, Inc.
 
35,574
1,052,990
Ameris Bancorp
 
62,488
5,449,578
AMERISAFE, Inc.
 
21,512
624,708
Ames National Corp.
 
4,173
127,652
Angel Oak Mortgage REIT, Inc.(c)
 
14,880
131,688
Apollo Commercial Real Estate Finance,
Inc.(c)
 
153,828
1,018,341
Ares Commercial Real Estate Corp.(c)
 
76,357
325,281
ARMOUR Residential REIT, Inc.(c)
 
102,447
1,687,302
Arrow Financial Corp.
 
7,995
318,521
Artisan Partners Asset Management, Inc.,
Class A(c)
 
76,359
2,996,327
Atlantic Union Bankshares Corp., Class B
 
192,524
8,168,793
Atlanticus Holdings Corp.(b)(c)
 
8,570
904,049
Axos Financial, Inc.(b)(c)
 
45,403
4,604,318
Baldwin Insurance Group, Inc. (The),
Class A(b)(c)
 
23,732
658,326
Banc of California, Inc.
 
187,172
3,584,344
BancFirst Corp.(c)
 
15,601
1,760,105
Bancorp, Inc. (The)(b)(c)
 
39,141
2,625,187
Bank First Corp.(c)
 
9,455
1,444,157
Bank of Hawaii Corp.(c)
 
54,851
4,382,595
Bank of Marin Bancorp
 
12,898
376,106
Bankwell Financial Group, Inc.
 
4,480
305,312
Banner Corp.
 
33,894
2,386,477
Bar Harbor Bankshares
 
8,546
339,362
BayCom Corp.
 
3,581
108,075
BCB Bancorp, Inc.(c)
 
12,664
126,513
Beacon Financial Corp.
 
113,056
3,562,395
BGC Group, Inc., Class A
 
292,824
3,373,332
Blue Owl Capital, Inc.
 
151,325
1,558,648
BOK Financial Corp.(c)
 
34,913
4,932,858
Bowhead Specialty Holdings, Inc.(b)
 
8,754
267,785
BRC Group Holdings, Inc.(b)(c)
 
135,412
969,550
Bridgewater Bancshares, Inc.(b)(c)
 
11,192
229,212
BrightSpire Capital, Inc.(c)
 
96,613
484,031
Burke & Herbert Financial Services
Corp.(c)
 
10,079
738,287
Business First Bancshares, Inc.(c)
 
17,443
555,036
Byline Bancorp, Inc.
 
27,835
1,093,080
C&F Financial Corp.
 
1,727
142,633
California BanCorp
 
13,014
277,198
Camden National Corp.(c)
 
11,200
648,368
Capital Bancorp, Inc.
 
3,641
135,919
Capital City Bank Group, Inc.
 
8,310
431,040
Capitol Federal Financial, Inc.
 
114,344
1,010,801
Carter Bankshares, Inc.
 
18,582
642,566
Cass Information Systems, Inc.
 
10,378
580,338
Central BanCo., Inc.
 
9,790
321,112
Central Pacific Financial Corp.
 
21,259
837,605
Chemung Financial Corp.
 
2,138
174,226
Chicago Atlantic Real Estate Finance,
Inc.(c)
 
18,014
175,817
Chime Financial, Inc., Class A(b)(c)
 
33,025
759,245
ChoiceOne Financial Services, Inc.(c)
 
12,223
415,949
 
Shares
Value
Financials-(continued)
Citizens & Northern Corp.
 
5,526
$140,305
Citizens Financial Services, Inc.(c)
 
2,034
157,676
City Holding Co.(c)
 
13,579
1,970,449
Civista Bancshares, Inc.
 
11,882
345,291
Claros Mortgage Trust, Inc.(b)
 
67,304
119,128
CNA Financial Corp.(c)
 
54,651
2,867,538
CNB Financial Corp.(c)
 
18,150
637,065
Coastal Financial Corp.(b)
 
9,541
391,086
Cohen & Steers, Inc.(c)
 
34,644
2,850,162
Colony Bankcorp, Inc.
 
14,229
311,900
Columbia Financial, Inc.(b)(c)
 
62,272
673,160
Community Financial System, Inc.
 
34,290
2,222,335
Community Trust Bancorp, Inc.(c)
 
9,380
735,861
Community West Bancshares, Class B
 
15,568
389,667
ConnectOne Bancorp, Inc.
 
46,025
1,516,064
Crawford & Co., Class A
 
8,646
94,328
Credit Acceptance Corp.(b)(c)
 
13,843
7,875,421
Customers Bancorp, Inc.(b)(c)
 
44,802
3,525,021
CVB Financial Corp.
 
184,090
4,118,093
DigitalBridge Group, Inc.(c)
 
326,562
5,182,539
Dime Community Bancshares, Inc.,
Class B
 
35,423
1,443,841
Donegal Group, Inc., Class A
 
17,483
345,114
Donnelley Financial Solutions, Inc.(b)
 
33,775
1,597,557
Dynex Capital, Inc.(c)
 
184,624
2,346,571
Eagle Bancorp, Inc.
 
58,618
1,626,649
Eastern Bankshares, Inc.(c)
 
236,553
5,431,257
eHealth, Inc.(b)
 
45,041
59,905
Ellington Financial, Inc.
 
176,368
2,342,167
Employers Holdings, Inc.
 
29,794
1,506,087
Enact Holdings, Inc.(c)
 
45,728
2,163,849
Encore Capital Group, Inc.(b)(c)
 
37,161
3,496,107
Enova International, Inc.(b)
 
38,289
9,730,766
Enterprise Financial Services Corp.(c)
 
25,712
1,704,963
Equity Bancshares, Inc., Class A(c)
 
11,825
599,291
Erie Indemnity Co., Class A(c)
 
21,078
5,101,719
EVERTEC, Inc.
 
28,086
854,938
EZCORP, Inc., Class A(b)(c)
 
98,199
2,923,384
F&G Annuities & Life, Inc.(c)
 
53,337
1,523,838
Farmers & Merchants Bancorp, Inc.
 
4,394
146,584
Farmers National Banc Corp.(c)
 
34,088
540,636
FB Financial Corp.
 
43,621
2,633,836
Federal Agricultural Mortgage Corp.,
Class C(c)
 
11,597
2,639,477
Fidelis Insurance Holdings Ltd. (United
Kingdom)
 
27,625
698,636
Financial Institutions, Inc.(c)
 
19,031
789,025
First Bancorp, Inc. (The)
 
3,407
119,586
First Bancorp/Southern Pines NC(c)
 
33,613
2,113,249
First Bank
 
7,156
132,601
First Busey Corp.
 
86,026
2,654,762
First Business Financial Services, Inc.
 
5,081
356,737
First Commonwealth Financial Corp.
 
90,348
1,945,192
First Community Bankshares, Inc.
 
7,732
368,971
First Financial Bancorp(c)
 
91,504
3,095,580
First Financial Bankshares, Inc.
 
87,330
3,068,776
First Financial Corp.
 
8,620
694,341
First Internet Bancorp
 
7,678
226,194
First Merchants Corp.(c)
 
42,192
1,820,163
First Mid Bancshares, Inc.(c)
 
11,904
620,079
First United Corp.
 
946
41,756
FirstSun Capital Bancorp(b)(c)
 
36,068
1,395,110
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Five Star Bancorp
 
9,451
$445,993
Flywire Corp.(b)(c)
 
116,780
1,869,648
Franklin BSP Realty Trust, Inc.(c)
 
96,634
733,452
FS Bancorp, Inc.
 
2,336
100,238
Fulton Financial Corp.
 
235,270
5,724,119
Galaxy Digital, Inc.(b)(c)
 
18,632
391,458
GCM Grosvenor, Inc., Class A
 
55,779
696,122
German American Bancorp, Inc.
 
16,817
855,649
Global Indemnity Group LLC, Class A
 
146
4,015
Goosehead Insurance, Inc., Class A(b)(c)
 
5,366
332,692
Granite Point Mortgage Trust, Inc.
 
53,082
76,438
Great Southern Bancorp, Inc.(c)
 
8,647
694,441
Green Dot Corp., Class A(b)(c)
 
90,837
1,190,873
Greenlight Capital Re Ltd., Class A(b)
 
11,087
184,599
Hamilton Insurance Group Ltd., Class B
(Bermuda)
 
29,877
1,074,377
Hamilton Lane, Inc., Class A(c)
 
18,367
1,633,010
Hanmi Financial Corp.
 
27,887
889,038
Happen, Inc.(b)
 
165,202
3,161,966
HBT Financial, Inc.(c)
 
5,409
193,859
HCI Group, Inc.
 
6,228
1,089,962
Heritage Financial Corp.
 
29,639
881,167
Heritage Insurance Holdings, Inc.(b)
 
22,383
657,389
Hilltop Holdings, Inc.
 
53,320
2,102,941
Hingham Institution for Savings (The)(c)
 
2,510
715,802
Home Bancorp, Inc.
 
6,892
491,675
HomeTrust Bancshares, Inc.
 
8,330
426,413
Hope Bancorp, Inc.
 
125,287
1,755,271
Horace Mann Educators Corp.
 
34,639
1,805,038
Horizon Bancorp, Inc.
 
42,040
859,718
Independent Bank Corp.
 
49,014
4,108,844
Independent Bank Corp.
 
16,620
634,884
Interactive Brokers Group, Inc., Class A
 
50,167
4,414,194
International Bancshares Corp.(c)
 
33,420
2,557,967
International Money Express, Inc.(b)(c)
 
41,861
496,471
Invesco Mortgage Capital, Inc.(c)(e)
 
68,413
506,940
Investar Holding Corp.
 
9,883
297,676
Investors Title Co.(c)
 
3,363
972,882
Isabella Bank Corp.(c)
 
1,977
78,507
James River Group Holdings, Inc.(c)
 
17,594
78,997
Kearny Financial Corp.
 
50,346
482,818
Kinsale Capital Group, Inc.(c)
 
8,369
2,982,879
KKR Real Estate Finance Trust, Inc.(c)
 
121,292
844,192
Ladder Capital Corp.
 
106,680
1,019,861
Lakeland Financial Corp.
 
21,311
1,335,134
LCNB Corp.(c)
 
3,021
59,846
Lemonade, Inc.(b)(c)
 
14,159
684,021
LendingTree, Inc.(b)(c)
 
23,383
744,982
Live Oak Bancshares, Inc.(c)
 
35,785
1,531,598
loanDepot, Inc., Class A(b)(c)
 
445,058
436,691
MarketAxess Holdings, Inc.(c)
 
36,901
5,989,032
Marqeta, Inc., Class A(b)
 
124,432
2,160,140
MBIA, Inc.(b)(c)
 
42,581
218,015
Mechanics Bancorp(c)
 
22,388
375,895
Medallion Financial Corp.(c)
 
7,720
76,737
Mercantile Bank Corp.
 
11,654
700,172
Merchants Bancorp(c)
 
24,015
1,325,148
Mercury General Corp.
 
33,968
3,638,652
Meridian Corp.
 
11,148
218,947
MetroCity Bankshares, Inc.(c)
 
7,489
264,961
Metropolitan Bank Holding Corp.
 
13,511
1,249,497
MFA Financial, Inc.(c)
 
180,318
1,642,697
 
Shares
Value
Financials-(continued)
Miami International Holdings, Inc.(b)(c)
 
7,037
$331,020
Mid Penn Bancorp, Inc.
 
16,503
632,725
Midland States Bancorp, Inc.(c)
 
20,227
681,043
Morningstar, Inc.(c)
 
21,737
4,185,894
MVB Financial Corp.(c)
 
6,340
194,321
National Bank Holdings Corp., Class A
 
47,732
2,061,545
National Bankshares, Inc.
 
3,108
126,185
NB Bancorp, Inc.
 
35,656
820,445
NBT Bancorp, Inc.(c)
 
29,779
1,567,864
Nelnet, Inc., Class A(c)
 
14,197
1,928,946
NerdWallet, Inc., Class A(b)(c)
 
87,930
791,370
NewtekOne, Inc.
 
35,661
528,853
Nexpoint Real Estate Finance, Inc.(c)
 
6,984
118,449
Nicolet Bankshares, Inc.(c)
 
17,601
3,008,363
NMI Holdings, Inc., Class A(b)(c)
 
66,445
2,943,513
Northeast Bank
 
6,980
866,707
Northeast Community Bancorp, Inc.(c)
 
6,973
186,179
Northpointe Bancshares, Inc.(c)
 
14,570
254,975
Northrim BanCorp, Inc.
 
25,017
663,201
Northwest Bancshares, Inc.(c)
 
131,990
2,077,523
Norwood Financial Corp.
 
3,675
124,913
OceanFirst Financial Corp.
 
109,741
2,119,099
Octave Specialty Group, Inc.(b)(c)
 
100,490
542,646
OFG Bancorp
 
20,599
1,088,863
Old Second Bancorp, Inc.
 
45,489
1,150,417
Onity Group, Inc.(b)(c)
 
7,254
265,932
Oportun Financial Corp.(b)
 
65,289
361,701
Oppenheimer Holdings, Inc., Class A
 
7,518
801,720
Orchid Island Capital, Inc.
 
241,020
1,564,220
Origin Bancorp, Inc.
 
25,351
1,387,460
Orrstown Financial Services, Inc.
 
19,570
836,226
Oscar Health, Inc., Class A(b)
 
154,472
4,822,616
Palomar Holdings, Inc.(b)(c)
 
9,470
1,266,991
Park National Corp.(c)
 
9,305
1,936,836
Parke Bancorp, Inc.(c)
 
7,484
255,579
Pathward Financial, Inc.(c)
 
19,963
1,761,535
Patria Investments Ltd., Class A (Cayman
Islands)(c)
 
39,043
422,445
Paymentus Holdings, Inc., Class A(b)(c)
 
21,960
748,836
Payoneer Global, Inc.(b)
 
288,630
2,069,477
Paysafe Ltd.(b)(c)
 
54,974
444,190
PCB Bancorp
 
4,276
119,172
Peapack-Gladstone Financial Corp.(c)
 
15,946
733,197
PennyMac Mortgage Investment Trust(c)
 
139,354
1,314,108
Peoples Bancorp, Inc.
 
31,439
1,309,749
Peoples Financial Services Corp.(c)
 
4,028
283,410
Perella Weinberg Partners(c)
 
37,412
660,322
Piper Sandler Cos.(c)
 
67,271
5,099,142
PJT Partners, Inc., Class A(c)
 
12,929
2,176,080
PRA Group, Inc.(b)
 
47,310
821,775
Preferred Bank(c)
 
12,019
1,255,264
Primis Financial Corp.
 
15,507
248,422
Princeton Bancorp, Inc.
 
1,041
42,931
Provident Financial Services, Inc.(c)
 
109,211
2,695,327
QCR Holdings, Inc.
 
14,542
1,497,099
RBB Bancorp(c)
 
9,185
242,208
Ready Capital Corp.(c)
 
345,334
493,828
Red River Bancshares, Inc.
 
2,471
248,459
Redwood Trust, Inc.(c)
 
147,496
674,057
Regional Management Corp.
 
6,984
225,374
Remitly Global, Inc.(b)(c)
 
126,961
2,890,902
Renasant Corp.
 
92,774
4,042,163
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Financials-(continued)
Repay Holdings Corp., Class A(b)(c)
 
173,269
$693,076
Republic Bancorp, Inc., Class A(c)
 
5,886
585,892
Ridgepost Capital, Inc., Class A(c)
 
57,522
495,840
Rithm Property Trust, Inc.(c)
 
4,187
51,584
RLI Corp.(c)
 
95,108
5,824,414
Rocket Cos., Inc., Class A(b)(c)
 
95,997
1,238,361
Ryan Specialty Holdings, Inc., Class A(c)
 
31,712
1,400,402
S&T Bancorp, Inc.(c)
 
25,855
1,348,338
Safety Insurance Group, Inc.(c)
 
10,894
1,126,331
Seacoast Banking Corp. of Florida(c)
 
88,815
3,085,433
Security National Financial Corp.,
Class A(b)(c)
 
4,887
45,791
Selectquote, Inc.(b)
 
172,883
129,144
ServisFirst Bancshares, Inc.(c)
 
34,546
3,091,867
Seven Hills Realty Trust(c)
 
13,548
102,152
Shift4 Payments, Inc., Class A(b)(c)
 
34,246
1,815,038
Shore Bancshares, Inc.
 
24,556
601,622
Sierra Bancorp(c)
 
6,932
282,548
SiriusPoint Ltd.(b)
 
41,532
982,232
Skyward Specialty Insurance Group,
Inc.(b)
 
26,599
1,594,610
Slide Insurance Holdings, Inc.(b)(c)
 
21,364
426,639
SmartFinancial, Inc.
 
9,106
477,154
SoFi Technologies, Inc.(b)(c)
 
122,732
2,001,759
South Plains Financial, Inc.
 
9,462
424,276
Southern First Bancshares, Inc.(b)(c)
 
5,494
342,826
Southern Missouri Bancorp, Inc.
 
8,344
645,909
Southside Bancshares, Inc.(c)
 
17,370
564,699
StepStone Group, Inc., Class A(c)
 
14,920
654,391
Stewart Information Services Corp.
 
28,790
1,945,916
Stock Yards Bancorp, Inc.(c)
 
17,642
1,501,334
Texas Capital Bancshares, Inc.(c)
 
57,529
5,686,742
TFS Financial Corp.(c)
 
46,970
864,718
Third Coast Bancshares, Inc.(b)(c)
 
9,486
415,866
Timberland Bancorp, Inc.
 
2,700
121,041
Tiptree, Inc.(c)
 
26,090
463,619
Toast, Inc., Class A(b)(c)
 
187,355
6,045,946
Tompkins Financial Corp.
 
7,084
707,267
Towne Bank(c)
 
49,528
1,877,606
TPG Mortgage Investment Trust, Inc.
 
29,435
205,162
TPG RE Finance Trust, Inc.
 
88,061
701,846
TPG, Inc.
 
80,048
3,494,896
Tradeweb Markets, Inc., Class A(c)
 
54,995
5,526,997
TriCo Bancshares(c)
 
15,078
867,588
Triumph Financial, Inc.(b)(c)
 
32,077
2,435,607
Trupanion, Inc.(b)(c)
 
36,223
887,101
TrustCo Bank Corp.(c)
 
13,105
746,723
Trustmark Corp.(c)
 
43,203
2,049,982
UMB Financial Corp.
 
55,929
8,150,533
United Community Banks, Inc.
 
109,606
3,884,437
United Fire Group, Inc.
 
16,507
847,800
Unity Bancorp, Inc.(c)
 
7,034
414,232
Universal Insurance Holdings, Inc.
 
29,359
1,283,282
Univest Financial Corp.
 
19,106
845,249
Upstart Holdings, Inc.(b)(c)
 
62,980
1,728,171
UWM Holdings Corp.(c)
 
177,748
323,501
Victory Capital Holdings, Inc., Class A(c)
 
58,871
5,829,995
Virtus Investment Partners, Inc.
 
12,299
1,959,846
WaFd, Inc.(c)
 
77,157
2,837,063
Walker & Dunlop, Inc.
 
34,632
1,720,864
Washington Trust Bancorp, Inc.(c)
 
20,820
811,564
Waterstone Financial, Inc.
 
7,767
159,379
 
Shares
Value
Financials-(continued)
WesBanco, Inc.(c)
 
87,882
$3,636,557
West Bancorporation, Inc.
 
4,937
138,483
Westamerica Bancorporation
 
20,816
1,252,082
Western New England Bancorp, Inc.
 
9,252
119,628
Westwood Holdings Group, Inc.
 
1,806
34,621
WisdomTree, Inc.(c)
 
130,812
2,533,828
World Acceptance Corp.(b)(c)
 
10,066
1,809,967
WSFS Financial Corp.
 
49,017
3,931,163
 
 
446,075,002
Health Care-17.86%
10X Genomics, Inc., Class A(b)(c)
 
188,491
8,909,970
4D Molecular Therapeutics, Inc.(b)(c)
 
86,475
880,316
Absci Corp.(b)(c)
 
67,194
522,769
Acadia Pharmaceuticals, Inc.(b)
 
137,153
3,548,148
Accuray, Inc.(b)
 
118,243
31,701
Aclaris Therapeutics, Inc.(b)
 
140,624
731,245
Acme United Corp.
 
858
48,786
AdaptHealth Corp.(b)(c)
 
151,762
1,639,030
Adaptive Biotechnologies Corp.(b)
 
99,819
2,252,915
Addus HomeCare Corp.(b)(c)
 
24,605
2,841,385
ADMA Biologics, Inc.(b)(c)
 
31,628
267,573
agilon health, Inc.(b)
 
40,241
3,686,478
Agios Pharmaceuticals, Inc.(b)(c)
 
113,683
3,412,764
Akebia Therapeutics, Inc.(b)
 
450,659
594,870
Aldeyra Therapeutics, Inc.(b)(c)
 
105,149
161,929
Alector, Inc.(b)
 
154,955
233,982
Alignment Healthcare, Inc.(b)(c)
 
43,094
639,946
Allogene Therapeutics, Inc.(b)(c)
 
588,543
1,106,461
Altimmune, Inc.(b)(c)
 
183,869
522,188
Alumis, Inc.(b)(c)
 
99,889
2,821,864
Alvotech S.A. (Luxembourg)(b)(c)
 
73,335
302,140
ALX Oncology Holdings, Inc.(b)(c)
 
35,672
69,204
American Well Corp., Class A(b)(c)
 
8,612
92,579
Amneal Pharmaceuticals, Inc.(b)
 
168,785
3,092,141
Amphastar Pharmaceuticals, Inc.(b)(c)
 
56,490
1,126,411
Amylyx Pharmaceuticals, Inc.(b)(c)
 
83,760
1,701,166
AnaptysBio, Inc.(b)(c)
 
20,920
1,116,291
Anavex Life Sciences Corp.(b)(c)
 
56,923
156,538
AngioDynamics, Inc.(b)(c)
 
68,308
1,010,275
ANI Pharmaceuticals, Inc.(b)(c)
 
13,402
1,061,974
Anika Therapeutics, Inc.(b)
 
15,448
297,837
Annexon, Inc.(b)(c)
 
198,807
1,012,922
Apogee Therapeutics, Inc.(b)(c)
 
11,347
1,521,519
Arbutus Biopharma Corp.(b)
 
122,438
531,381
Arcturus Therapeutics Holdings, Inc.(b)(c)
 
92,217
531,170
Arcus Biosciences, Inc.(b)
 
102,787
2,897,566
Arcutis Biotherapeutics, Inc.(b)
 
51,981
1,396,210
Ardelyx, Inc.(b)(c)
 
118,018
584,189
Ardent Health, Inc.(b)(c)
 
54,043
576,639
ArriVent Biopharma, Inc.(b)(c)
 
9,855
293,876
Arrowhead Pharmaceuticals, Inc.(b)
 
67,454
5,709,981
Artivion, Inc.(b)(c)
 
27,118
727,576
Arvinas, Inc.(b)
 
202,155
1,623,305
Assembly Biosciences, Inc.(b)(c)
 
6,716
168,639
Astrana Health, Inc.(b)(c)
 
57,511
2,045,091
AtaiBeckley, Inc.(b)(c)
 
54,100
388,438
Atea Pharmaceuticals, Inc.(b)(c)
 
54,498
256,141
AtriCure, Inc.(b)(c)
 
49,085
1,853,450
Atrium Therapeutics, Inc.(b)
 
2,955
33,539
Aura Biosciences, Inc.(b)(c)
 
15,697
110,036
Axogen, Inc.(b)
 
20,466
863,870
Axsome Therapeutics, Inc.(b)
 
4,805
1,047,442
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Azenta, Inc.(b)(c)
 
95,968
$2,699,580
Beam Therapeutics, Inc.(b)(c)
 
134,312
3,427,642
Bicara Therapeutics, Inc.(b)(c)
 
16,028
434,359
BioAge Labs, Inc.(b)
 
12,112
109,492
BioCryst Pharmaceuticals, Inc.(b)(c)
 
206,445
1,853,876
Biohaven Ltd.(b)
 
237,148
3,201,498
BioLife Solutions, Inc.(b)(c)
 
27,937
873,869
Bio-Techne Corp.
 
129,616
9,344,017
Black Diamond Therapeutics, Inc.(b)(c)
 
94,181
159,166
BridgeBio Pharma, Inc.(b)
 
46,343
3,711,611
BrightSpring Health Services, Inc.(b)
 
78,949
4,714,045
Bristol-Myers Squibb Co., Rts., expiring
01/23/2031(b)(c)(f)
 
23,541
0
Brookdale Senior Living, Inc.(b)
 
243,272
3,551,771
Butterfly Network, Inc.(b)(c)
 
253,238
1,800,522
C4 Therapeutics, Inc.(b)(c)
 
207,010
720,395
Cabaletta Bio, Inc.(b)(c)
 
172,727
462,908
CareDx, Inc.(b)
 
81,255
3,551,656
Caribou Biosciences, Inc.(b)
 
82,309
120,171
Castle Biosciences, Inc.(b)
 
37,331
1,045,268
Celcuity, Inc.(b)(c)
 
1,940
167,577
Celldex Therapeutics, Inc.(b)(c)
 
51,088
1,944,409
Century Therapeutics, Inc.(b)(c)
 
94,822
191,540
Certara, Inc.(b)(c)
 
209,282
1,695,184
Cerus Corp.(b)(c)
 
175,777
377,921
CG Oncology, Inc.(b)(c)
 
7,193
512,070
Chinook Therapeutics, Inc.(b)(c)(f)
 
14,882
0
Claritev Corp.(b)(c)
 
16,808
381,710
Clover Health Investments Corp.(b)(c)
 
719,220
2,999,147
Codexis, Inc.(b)
 
71,447
100,026
Cogent Biosciences, Inc.(b)
 
43,595
1,697,153
Coherus Oncology, Inc.(b)(c)
 
210,439
296,719
Collegium Pharmaceutical, Inc.(b)
 
40,359
1,428,305
Community Health Systems, Inc.(b)(c)
 
253,894
708,364
Concentra Group Holdings Parent, Inc.
 
113,284
3,585,439
CONMED Corp.(c)
 
68,104
3,153,215
Corcept Therapeutics, Inc.(b)(c)
 
74,557
8,536,031
CorVel Corp.(b)
 
23,106
1,387,746
Crinetics Pharmaceuticals, Inc.(b)
 
51,165
4,273,301
CryoPort, Inc.(b)
 
59,254
894,143
Cullinan Therapeutics, Inc.(b)(c)
 
93,627
1,544,846
Cytek Biosciences, Inc.(b)(c)
 
123,999
523,276
Cytokinetics, Inc.(b)(c)
 
31,814
2,453,814
CytomX Therapeutics, Inc.(b)(c)
 
82,920
257,052
Definitive Healthcare Corp.(b)
 
72,964
49,783
Definium Therapeutics, Inc.(b)
 
14,458
629,212
Denali Therapeutics, Inc.(b)(c)
 
201,853
4,646,656
Dianthus Therapeutics, Inc.(b)(c)
 
15,088
1,613,209
Disc Medicine, Inc.(b)(c)
 
8,787
676,599
DocGo, Inc.(b)(c)
 
107,031
69,634
Doximity, Inc., Class A(b)(c)
 
57,000
1,191,870
Dyne Therapeutics, Inc.(b)(c)
 
82,941
2,088,454
Edgewise Therapeutics, Inc.(b)
 
30,901
1,187,525
Editas Medicine, Inc.(b)(c)
 
119,007
307,038
Embecta Corp.(c)
 
83,054
302,317
Emergent BioSolutions, Inc.(b)(c)
 
118,666
856,769
Enanta Pharmaceuticals, Inc.(b)(c)
 
34,972
440,647
Enliven Therapeutics, Inc.(b)(c)
 
8,638
473,449
Ensign Group, Inc. (The)(c)
 
34,294
6,109,819
Entrada Therapeutics, Inc.(b)(c)
 
27,063
183,758
Erasca, Inc.(b)(c)
 
123,452
2,240,654
Evolent Health, Inc., Class A(b)(c)
 
353,877
1,093,480
 
Shares
Value
Health Care-(continued)
EyePoint, Inc.(b)(c)
 
61,396
$752,101
Fate Therapeutics, Inc.(b)(c)
 
228,044
558,708
First Tracks Biotherapeutics, Inc.(b)(c)
 
20,655
909,646
Foghorn Therapeutics, Inc.(b)(c)
 
10,814
48,987
Fulcrum Therapeutics, Inc.(b)
 
82,009
293,592
Fulgent Genetics, Inc.(b)(c)
 
41,817
692,071
GeneDx Holdings Corp.(b)(c)
 
8,774
571,275
Geron Corp.(b)
 
746,889
963,487
Ginkgo Bioworks Holdings, Inc.(b)(c)
 
187,314
1,515,370
Glaukos Corp.(b)(c)
 
19,011
3,169,514
GoodRx Holdings, Inc., Class A(b)(c)
 
236,575
726,285
Gossamer Bio., Inc.(b)(c)
 
556,395
94,309
GRAIL, Inc.(b)(c)
 
87,532
6,001,194
Guardant Health, Inc.(b)
 
31,334
5,075,795
Haemonetics Corp.(b)(c)
 
75,876
6,490,433
Halozyme Therapeutics, Inc.(b)(c)
 
74,270
6,130,246
Harmony Biosciences Holdings, Inc.(b)(c)
 
51,106
1,800,975
Health Catalyst, Inc.(b)(c)
 
37,138
77,618
HealthEquity, Inc.(b)(c)
 
66,136
6,653,943
HealthStream, Inc.(c)
 
33,087
927,759
Heron Therapeutics, Inc.(b)(c)
 
198,800
98,645
Hims & Hers Health, Inc.(b)(c)
 
47,664
1,323,629
Humacyte, Inc.(b)(c)
 
243,339
158,998
ICU Medical, Inc.(b)(c)
 
34,216
5,765,738
Ideaya Biosciences, Inc.(b)(c)
 
59,173
2,100,642
ImmunityBio, Inc.(b)(c)
 
36,957
264,982
Immunome, Inc.(b)(c)
 
10,517
239,367
Immunovant, Inc.(b)(c)
 
36,701
1,417,393
Inhibrx Biosciences, Inc.(b)(c)
 
10,876
892,376
Innoviva, Inc.(b)
 
101,356
2,125,435
Inogen, Inc.(b)
 
32,045
206,690
Insmed, Inc.(b)
 
25,669
2,530,963
Inspire Medical Systems, Inc.(b)
 
32,428
1,628,210
Insulet Corp.(b)
 
18,533
3,064,432
Integer Holdings Corp.(b)(c)
 
58,347
7,072,240
Integra LifeSciences Holdings Corp.(b)(c)
 
134,707
2,242,872
Intellia Therapeutics, Inc.(b)(c)
 
325,781
3,479,341
Invivyd, Inc.(b)
 
353,119
188,919
Ionis Pharmaceuticals, Inc.(b)
 
110,761
5,734,097
Iovance Biotherapeutics, Inc.(b)(c)
 
1,035,987
4,216,467
IRhythm Holdings, Inc.(b)(c)
 
3,751
439,505
Ironwood Pharmaceuticals, Inc.(b)(c)
 
273,799
1,158,170
Janux Therapeutics, Inc.(b)(c)
 
31,907
484,029
Karyopharm Therapeutics, Inc.(b)(c)
 
32,185
61,795
Keros Therapeutics, Inc.(b)
 
55,989
563,809
Kiniksa Pharmaceuticals International
PLC(b)
 
20,358
1,513,414
Kodiak Sciences, Inc.(b)(c)
 
49,651
2,064,489
Krystal Biotech, Inc.(b)(c)
 
5,103
1,740,735
Kura Oncology, Inc.(b)(c)
 
144,782
1,304,486
Kymera Therapeutics, Inc.(b)(c)
 
22,436
2,319,882
Kyverna Therapeutics, Inc.(b)(c)
 
30,651
223,752
Lantheus Holdings, Inc.(b)(c)
 
60,853
6,063,393
LeMaitre Vascular, Inc.(c)
 
11,352
1,150,185
Lexeo Therapeutics, Inc.(b)(c)
 
36,731
151,699
Lexicon Pharmaceuticals, Inc.(b)(c)
 
323,460
747,193
LifeStance Health Group, Inc.(b)
 
143,553
1,504,435
Ligand Pharmaceuticals, Inc.(b)(c)
 
10,194
2,931,183
LivaNova PLC(b)(c)
 
77,357
6,199,390
Lyell Immunopharma, Inc.(b)(c)
 
9,029
116,835
MacroGenics, Inc.(b)(c)
 
43,475
160,423
Madrigal Pharmaceuticals, Inc.(b)(c)
 
4,175
1,951,061
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Maravai LifeSciences Holdings, Inc.,
Class A(b)(c)
 
203,356
$1,336,049
Maze Therapeutics, Inc.(b)(c)
 
6,270
168,788
Medpace Holdings, Inc.(b)(c)
 
6,268
3,617,325
MeiraGTx Holdings PLC(b)(c)
 
57,010
672,148
Merit Medical Systems, Inc.(b)(c)
 
58,086
4,937,891
Mesa Laboratories, Inc.
 
8,914
898,620
MiMedx Group, Inc.(b)(c)
 
61,614
254,466
Mineralys Therapeutics, Inc.(b)
 
7,927
202,297
Mirum Pharmaceuticals, Inc.(b)(c)
 
13,402
1,419,942
Monte Rosa Therapeutics, Inc.(b)(c)
 
48,494
801,121
Myriad Genetics, Inc.(b)(c)
 
174,477
499,004
Natera, Inc.(b)
 
21,810
5,839,846
National HealthCare Corp.
 
10,080
2,278,382
Nektar Therapeutics(b)(c)
 
59,648
4,215,324
Neogen Corp.(b)(c)
 
534,411
6,434,308
NeoGenomics, Inc.(b)(c)
 
212,001
3,241,495
Neumora Therapeutics, Inc.(b)
 
177,346
285,527
Nkarta, Inc.(b)
 
103,063
215,402
Novo Nordisk A/S (Denmark)(b)(c)(f)
 
22,130
0
Novocure Ltd.(b)(c)
 
84,656
1,256,295
NRC Health(c)
 
13,340
260,263
Nurix Therapeutics, Inc.(b)(c)
 
113,998
2,645,894
Nutex Health, Inc.(b)(c)
 
1,879
277,021
Nuvation Bio, Inc.(b)(c)
 
220,942
1,398,563
Ocular Therapeutix, Inc.(b)(c)
 
68,318
558,158
Olema Pharmaceuticals, Inc.(b)(c)
 
71,050
813,523
Omeros Corp.(b)(c)
 
107,475
1,272,504
OmniAb, Inc.(b)
 
89,846
177,895
OmniAb, Inc., Rts., expiring
11/02/2027(b)(c)(f)
 
4,734
0
OmniAb, Inc., Rts., expiring
11/02/2027(b)(f)
 
4,734
0
Omnicell, Inc.(b)(c)
 
70,027
2,476,855
OPKO Health, Inc.(b)(c)
 
395,779
522,428
OraSure Technologies, Inc.(b)(c)
 
74,228
300,623
Organogenesis Holdings, Inc.(b)(c)
 
132,410
313,812
ORIC Pharmaceuticals, Inc.(b)(c)
 
62,785
695,030
Orthofix Medical, Inc.(b)
 
39,483
465,899
OrthoPediatrics Corp.(b)(c)
 
22,218
448,581
Oruka Therapeutics, Inc.(b)(c)
 
5,467
527,620
Ovid therapeutics, Inc.(b)
 
94,188
209,097
Pacific Biosciences of California, Inc.(b)(c)
 
1,067,651
1,494,711
Pacira BioSciences, Inc.(b)(c)
 
91,320
2,411,761
PACS Group, Inc.(b)(c)
 
7,567
348,158
PDL BioPharma, Inc.(b)(f)
 
526,601
163,246
Pediatrix Medical Group, Inc.(b)(c)
 
96,912
2,569,137
Pennant Group, Inc. (The)(b)
 
20,740
836,237
Penumbra, Inc.(b)
 
12,870
4,133,715
Personalis, Inc.(b)(c)
 
32,222
407,931
Phibro Animal Health Corp., Class A(c)
 
24,488
889,649
Phreesia, Inc.(b)(c)
 
86,876
932,179
Pliant Therapeutics, Inc.(b)(c)
 
104,278
108,449
Praxis Precision Medicines, Inc.(b)(c)
 
7,403
2,278,866
Prestige Consumer Healthcare, Inc.(b)(c)
 
63,579
3,192,937
Prime Medicine, Inc.(b)(c)
 
78,586
229,471
Privia Health Group, Inc.(b)
 
98,913
2,341,271
PROCEPT BioRobotics Corp.(b)(c)
 
23,759
442,393
Progyny, Inc.(b)
 
103,181
3,212,025
Protagonist Therapeutics, Inc.(b)
 
20,523
2,804,263
Prothena Corp. PLC (Ireland)(b)(c)
 
34,600
280,952
PTC Therapeutics, Inc.(b)(c)
 
72,733
4,946,571
 
Shares
Value
Health Care-(continued)
Puma Biotechnology, Inc.(b)(c)
 
55,097
$436,919
Quanterix Corp.(b)(c)
 
95,537
332,469
Quantum-Si, Inc.(b)
 
425,347
303,017
RadNet, Inc.(b)(c)
 
30,736
1,960,342
Recursion Pharmaceuticals, Inc.,
Class A(b)(c)
 
496,794
1,490,382
REGENXBIO, Inc.(b)(c)
 
105,503
1,022,324
Relay Therapeutics, Inc.(b)(c)
 
268,250
5,051,148
Relmada Therapeutics, Inc.(b)(c)
 
38,208
202,884
Repligen Corp.(b)(c)
 
30,737
4,334,224
Replimune Group, Inc.(b)(c)
 
182,524
2,044,269
Revolution Medicines, Inc.(b)(c)
 
59,352
11,130,281
Rhythm Pharmaceuticals, Inc.(b)(c)
 
12,167
1,207,575
Rigel Pharmaceuticals, Inc.(b)(c)
 
14,505
533,929
Rocket Pharmaceuticals, Inc.(b)(c)
 
329,593
1,025,034
Roivant Sciences Ltd.(b)
 
335,462
11,375,516
RxSight, Inc.(b)(c)
 
40,753
244,926
Sana Biotechnology, Inc.(b)(c)
 
391,825
1,226,412
Savara, Inc.(b)(c)
 
105,724
577,253
Scholar Rock Holding Corp.(b)(c)
 
27,125
1,282,877
Schrodinger, Inc.(b)(c)
 
103,749
1,570,760
Seer, Inc.(b)
 
23,735
52,692
Septerna, Inc.(b)(c)
 
8,865
305,399
Seres Therapeutics, Inc.(b)(c)
 
12,914
62,375
Shattuck Labs, Inc.(b)(c)
 
31,981
226,106
SI-BONE, Inc.(b)(c)
 
30,216
536,636
SIGA Technologies, Inc.(c)
 
64,690
211,536
Simulations Plus, Inc.(b)(c)
 
29,333
534,741
Solid Biosciences, Inc.(b)(c)
 
96,703
779,426
Sotera Health Co.(b)(c)
 
105,405
1,882,533
Spero Therapeutics, Inc.(b)
 
26,957
31,540
Spyre Therapeutics, Inc.(b)(c)
 
22,592
2,221,471
STAAR Surgical Co., (Acquired
03/20/2020 - 07/20/2026;
Cost $1,081,339)(b)(c)(g)
 
45,530
1,109,111
Standard BioTools, Inc.(b)
 
129,890
112,745
Stoke Therapeutics, Inc.(b)(c)
 
27,717
799,913
Supernus Pharmaceuticals, Inc.(b)(c)
 
66,953
2,988,112
Surgery Partners, Inc.(b)(c)
 
161,405
2,485,637
Sutro Biopharma, Inc.(b)
 
16,529
399,506
Syndax Pharmaceuticals, Inc.(b)(c)
 
84,606
1,611,744
Tactile Systems Technology, Inc.(b)(c)
 
29,042
818,113
Tandem Diabetes Care, Inc.(b)(c)
 
132,924
2,592,018
Tango Therapeutics, Inc.(b)
 
75,695
2,057,390
Tarsus Pharmaceuticals, Inc.(b)(c)
 
9,175
541,692
Taysha Gene Therapies, Inc.(b)(c)
 
117,265
687,173
Tempus AI, Inc., Class A(b)(c)
 
4,680
205,312
Tenaya Therapeutics, Inc.(b)
 
221,893
164,267
TG Therapeutics, Inc.(b)(c)
 
43,607
2,268,872
Theravance Biopharma, Inc.(b)(c)
 
28,348
477,947
Tonix Pharmaceuticals Holding Corp.(b)(c)
 
21,611
216,326
TransMedics Group, Inc.(b)(c)
 
5,338
408,410
Travere Therapeutics, Inc.(b)
 
70,546
3,942,816
Twist Bioscience Corp.(b)(c)
 
45,076
4,126,708
U.S. Physical Therapy, Inc.(c)
 
20,120
1,590,687
UFP Technologies, Inc.(b)(c)
 
4,895
1,247,148
Ultragenyx Pharmaceutical, Inc.(b)(c)
 
195,007
4,857,624
Upstream Bio, Inc.(b)(c)
 
33,698
212,634
Utah Medical Products, Inc.(c)
 
2,578
181,801
Vanda Pharmaceuticals, Inc.(b)(c)
 
111,757
569,961
Varex Imaging Corp.(b)(c)
 
45,099
504,658
Vaxcyte, Inc.(b)(c)
 
80,838
4,371,719
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Health Care-(continued)
Vera Therapeutics, Inc.(b)(c)
 
11,996
$385,072
Veracyte, Inc.(b)(c)
 
58,522
2,710,739
Verastem, Inc.(b)(c)
 
81,901
475,026
Vericel Corp.(b)(c)
 
19,544
898,242
Viemed Healthcare, Inc.(b)
 
12,860
150,076
Viking Therapeutics, Inc.(b)(c)
 
30,739
975,656
Vir Biotechnology, Inc.(b)(c)
 
208,885
1,808,944
Viridian Therapeutics, Inc.(b)(c)
 
52,918
1,001,209
Vor BioPharma, Inc.(b)(c)
 
15,357
324,801
Voyager Therapeutics, Inc.(b)(c)
 
84,054
254,684
WaVe Life Sciences Ltd.(b)(c)
 
115,969
638,989
Waystar Holding Corp.(b)(c)
 
109,262
2,306,521
X4 Pharmaceuticals, Inc.(b)(c)
 
30,166
120,061
Xencor, Inc.(b)(c)
 
120,356
2,432,395
Zentalis Pharmaceuticals, Inc.(b)(c)
 
113,655
538,725
Zymeworks, Inc.(b)(c)
 
67,810
1,487,751
 
 
493,378,019
Industrials-16.68%
3D Systems Corp.(b)(c)
 
455,951
1,203,711
AAON, Inc.(c)
 
31,877
2,838,966
AAR Corp.(b)
 
47,803
6,694,332
ACCO Brands Corp.(c)
 
103,731
437,745
ACV Auctions, Inc., Class A(b)
 
115,282
863,462
AeroVironment, Inc.(b)(c)
 
10,897
1,627,685
AerSale Corp.(b)(c)
 
53,728
333,114
AIRO Group Holdings, Inc.(b)(c)
 
27,607
186,071
Alamo Group, Inc.(c)
 
15,083
2,399,404
Albany International Corp., Class A(c)
 
37,737
2,811,784
Allegiant Travel Co.(b)(c)
 
61,544
6,036,235
Allient, Inc.(c)
 
20,187
1,765,555
Alta Equipment Group, Inc.(b)(c)
 
30,226
198,887
Amentum Holdings, Inc.(b)(c)
 
163,505
3,629,811
Ameresco, Inc., Class A(b)(c)
 
57,981
1,221,660
American Airlines Group, Inc.(b)
 
344,923
5,266,974
American Superconductor Corp.(b)(c)
 
5,424
159,303
Apogee Enterprises, Inc.
 
31,468
1,246,133
Archer Aviation, Inc., Class A(b)(c)
 
185,612
861,240
Argan, Inc.
 
4,944
2,820,206
Armstrong World Industries, Inc.
 
30,959
5,407,299
Array Technologies, Inc.(b)(c)
 
97,632
509,639
Astec Industries, Inc.
 
24,257
1,228,860
Astronics Corp.(b)
 
29,194
2,028,691
ATI, Inc.(b)
 
61,816
11,586,791
Atmus Filtration Technologies, Inc.
 
59,295
3,061,401
Axon Enterprise, Inc.(b)
 
11,249
5,936,772
AZZ, Inc.
 
29,052
4,204,405
Barrett Business Services, Inc.(c)
 
25,158
982,168
Bloom Energy Corp., Class A(b)
 
19,871
4,089,650
Blue Bird Corp.(b)(c)
 
5,337
397,019
BlueLinx Holdings, Inc.(b)
 
13,716
743,681
Bowman Consulting Group Ltd.(b)
 
7,335
196,945
Brady Corp., Class A(c)
 
26,075
2,458,090
BrightView Holdings, Inc.(b)(c)
 
98,563
1,285,261
Brink’s Co. (The)(c)
 
40,003
4,738,355
Cadre Holdings, Inc.
 
20,466
630,967
Carpenter Technology Corp.
 
17,803
9,251,507
Casella Waste Systems, Inc., Class A(b)(c)
 
34,237
3,071,401
CBIZ, Inc.(b)(c)
 
100,613
5,541,764
CECO Environmental Corp.(b)
 
30,177
1,988,363
Centuri Holdings, Inc.(b)
 
46,517
1,295,033
ChargePoint Holdings, Inc.(b)(c)
 
77,897
425,318
Cimpress PLC (Ireland)(b)(c)
 
8,915
879,910
 
Shares
Value
Industrials-(continued)
Civeo Corp.(b)
 
9,677
$304,922
Clarivate PLC(b)(c)
 
711,981
1,409,722
Columbus McKinnon Corp.
 
53,761
1,030,598
Concrete Pumping Holdings, Inc.(b)
 
13,931
135,549
Conduent, Inc.(b)
 
178,864
280,816
Construction Partners, Inc., Class A(b)(c)
 
16,951
1,751,886
Costamare Bulkers Holdings Ltd.
(Monaco)(b)
 
3,292
64,392
Costamare, Inc. (Monaco)
 
31,800
495,444
Covenant Logistics Group, Inc., Class A(c)
 
20,456
726,597
CRA International, Inc.
 
9,744
1,744,468
CSW Industrials, Inc.
 
10,194
3,251,172
Custom Truck One Source, Inc.(b)
 
97,260
987,189
Deluxe Corp.(c)
 
51,995
1,345,111
Distribution Solutions Group, Inc.(b)
 
6,061
209,529
DNOW, Inc.(b)(c)
 
325,797
4,600,254
Douglas Dynamics, Inc.
 
25,125
1,108,766
Ducommun, Inc.(b)(c)
 
16,345
2,926,082
DXP Enterprises, Inc.(b)(c)
 
17,659
2,772,816
Eastern Co. (The)(c)
 
1,296
30,741
Energy Recovery, Inc.(b)(c)
 
67,804
586,505
Enerpac Tool Group Corp.
 
43,897
1,568,879
Ennis, Inc.
 
26,688
581,798
Enovix Corp.(b)(c)
 
84,670
346,300
Enpro, Inc.(c)
 
17,227
5,407,900
Enviri Corp.(b)(c)
 
37,867
839,890
ESCO Technologies, Inc.
 
15,423
4,862,718
Everus Construction Group, Inc.(b)(c)
 
42,056
5,275,084
ExlService Holdings, Inc.(b)(c)
 
159,888
5,425,000
Exponent, Inc.(c)
 
46,852
3,132,056
Federal Signal Corp.(c)
 
42,328
5,288,884
First Advantage Corp.(b)(c)
 
99,601
1,976,084
Fluence Energy, Inc.(b)(c)
 
32,376
450,998
Forrester Research, Inc.(b)(c)
 
12,858
147,867
Forward Air Corp.(b)(c)
 
88,928
1,249,438
Franklin Covey Co.(b)(c)
 
17,234
369,669
Franklin Electric Co., Inc.
 
37,313
3,907,417
Frontier Group Holdings, Inc., Class H(b)(c)
 
150,675
1,017,056
FTAI Aviation Ltd.
 
20,845
4,294,070
FTAI Infrastructure, Inc.(c)
 
42,959
160,237
FuelCell Energy, Inc.(b)(c)
 
161,389
3,487,616
Genco Shipping & Trading Ltd.
 
69,231
1,768,160
GEO Group, Inc. (The)(b)
 
281,602
8,698,686
Gibraltar Industries, Inc.(b)(c)
 
38,868
1,642,562
Global Industrial Co.
 
12,496
446,607
Global Ship Lease, Inc., Class A (United
Kingdom)
 
46,966
2,082,472
Gorman-Rupp Co. (The)
 
13,064
1,060,666
GrafTech International Ltd.(b)(c)
 
35,373
237,707
Granite Construction, Inc.(c)
 
53,573
6,480,726
Greenbrier Cos., Inc. (The)(c)
 
56,267
2,771,150
Griffon Corp.(c)
 
43,827
3,776,573
Hayward Holdings, Inc.(b)
 
244,148
3,693,959
Healthcare Services Group, Inc.(b)(c)
 
97,570
2,273,381
Heartland Express, Inc.(c)
 
72,601
887,910
Helios Technologies, Inc.
 
43,610
3,397,655
Hillman Solutions Corp.(b)(c)
 
183,124
1,441,186
HNI Corp.(c)
 
89,944
4,048,379
Hudson Technologies, Inc.(b)(c)
 
49,841
301,040
Hurco Cos., Inc.(b)(c)
 
2,435
50,745
Huron Consulting Group, Inc.(b)
 
18,741
2,844,322
Hyliion Holdings Corp.(b)(c)
 
159,291
567,076
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Industrials-(continued)
Hyster-Yale, Inc.(c)
 
10,315
$344,830
IBEX Holdings Ltd.(b)
 
16,028
566,430
ICF International, Inc.(c)
 
32,940
2,665,505
IES Holdings, Inc.(b)(c)
 
3,516
2,617,803
Insperity, Inc.(c)
 
102,016
5,163,030
Insteel Industries, Inc.(c)
 
20,466
627,283
Interface, Inc.(c)
 
57,336
1,964,331
Janus International Group, Inc.(b)(c)
 
159,561
818,548
JBT Marel Corp.
 
33,078
4,580,311
Joby Aviation, Inc.(b)(c)
 
159,612
1,141,226
Kadant, Inc.(c)
 
10,170
3,127,275
Karat Packaging, Inc.(c)
 
5,845
235,203
Karman Holdings, Inc.(b)(c)
 
4,266
205,408
Kforce, Inc.(c)
 
29,873
1,695,890
Kratos Defense & Security Solutions,
Inc.(b)
 
45,027
2,098,258
LB Foster Co., Class A(b)(c)
 
6,431
264,507
Legalzoom.com, Inc.(b)(c)
 
145,480
1,144,928
Legence Corp., Class A(b)(c)
 
3,872
247,537
Leonardo DRS, Inc.
 
53,981
2,485,825
Limbach Holdings, Inc.(b)(c)
 
7,612
545,780
Lindsay Corp.(c)
 
17,585
1,948,770
Liquidity Services, Inc.(b)(c)
 
24,332
948,461
Loar Holdings, Inc.(b)(c)
 
10,946
749,254
LSI Industries, Inc.(c)
 
23,459
548,706
Luxfer Holdings PLC (United Kingdom)
 
18,127
308,703
Manitowoc Co., Inc. (The)(b)(c)
 
38,089
527,533
Marten Transport Ltd.
 
100,959
1,493,184
Matrix Service Co.(b)(c)
 
29,963
347,571
Mayville Engineering Co., Inc.(b)(c)
 
20,330
521,871
McGrath RentCorp
 
20,441
2,353,781
Mercury Systems, Inc.(b)
 
58,498
5,680,156
Microvast Holdings, Inc.(b)(c)
 
213,852
172,600
Miller Industries, Inc.
 
12,090
608,127
Mistras Group, Inc.(b)(c)
 
19,111
290,678
Modine Manufacturing Co.(b)(c)
 
25,568
5,140,702
MSA Safety, Inc.
 
29,368
5,587,849
Mueller Water Products, Inc., Class A
 
143,358
3,618,356
MYR Group, Inc.(b)(c)
 
18,221
6,071,602
National Presto Industries, Inc.(c)
 
10,380
1,260,340
Nextpower, Inc., Class A(b)(c)
 
43,372
3,897,842
NN, Inc.(b)
 
17,430
57,693
NPK International, Inc.(b)(c)
 
97,274
1,214,952
NuScale Power Corp.(b)(c)
 
28,801
242,504
NWPX Infrastructure, Inc.(b)(c)
 
9,627
1,184,891
Onterris, Inc.(b)(c)
 
36,904
774,615
OPENLANE, Inc.(b)
 
114,513
4,553,037
Orion Group Holdings, Inc.(b)
 
46,325
453,058
Pangaea Logistics Solutions Ltd.(c)
 
50,869
387,113
Park Aerospace Corp., Class C
 
16,935
574,096
Park-Ohio Holdings Corp.
 
3,734
149,099
Parsons Corp.(b)(c)
 
77,210
3,413,454
Paycom Software, Inc.(c)
 
43,661
7,158,658
Paylocity Holding Corp.(b)(c)
 
20,205
2,786,168
Pitney Bowes, Inc.
 
195,181
3,421,523
Planet Labs PBC(b)(c)
 
82,076
1,680,916
Plug Power, Inc.(b)(c)
 
1,963,501
4,044,812
Powell Industries, Inc.(c)
 
10,429
2,176,324
Preformed Line Products Co.(c)
 
6,274
2,239,692
Primoris Services Corp.(c)
 
55,005
4,642,972
Proficient Auto Logistics, Inc.(b)(c)
 
15,838
108,332
Proto Labs, Inc.(b)
 
24,943
1,871,972
 
Shares
Value
Industrials-(continued)
Quad/Graphics, Inc.
 
34,390
$357,312
Quanex Building Products Corp.(c)
 
69,029
1,231,477
QXO, Inc.(b)(c)
 
99,531
1,323,762
Radiant Logistics, Inc.(b)
 
19,193
158,150
RBC Bearings, Inc.(b)
 
11,822
6,517,587
Resources Connection, Inc.(c)
 
35,316
154,331
Rocket Lab Corp.(b)
 
24,592
1,597,250
RXO, Inc.(b)(c)
 
260,843
5,282,071
Safe Bulkers, Inc. (Monaco)
 
42,631
332,948
Schneider National, Inc., Class B(c)
 
130,807
4,675,042
Shoals Technologies Group, Inc.,
Class A(b)(c)
 
180,339
1,576,163
Skillsoft Corp.(b)(c)
 
8,428
59,839
SPX Technologies, Inc.(b)
 
19,132
4,201,770
StandardAero, Inc.(b)(c)
 
89,964
2,636,845
Standex International Corp.
 
12,262
3,635,683
Sterling Infrastructure, Inc.(b)
 
7,030
4,195,293
Stratasys Ltd.(b)(c)
 
93,675
732,538
Sunrun, Inc.(b)
 
119,480
1,172,099
TaskUS, Inc., Class A (Philippines)(c)
 
45,312
275,044
Tecnoglass, Inc.(c)
 
26,590
1,155,070
Tennant Co.(c)
 
19,834
1,666,651
TIC Solutions, Inc.(b)(c)
 
159,674
1,167,217
Titan International, Inc.(b)
 
77,577
560,106
Titan Machinery, Inc.(b)(c)
 
24,579
417,597
Transcat, Inc.(b)(c)
 
9,687
826,979
Trex Co., Inc.(b)
 
152,011
6,591,197
Trinity Industries, Inc.(c)
 
93,754
2,928,875
TrueBlue, Inc.(b)(c)
 
33,461
236,904
TTEC Holdings, Inc.(b)(c)
 
42,585
106,037
Tutor Perini Corp.
 
66,644
5,581,435
Twin Disc, Inc.
 
6,811
155,359
UL Solutions, Inc., Class A(c)
 
27,683
2,536,870
UniFirst Corp.
 
22,609
6,623,985
Universal Logistics Holdings, Inc.(c)
 
7,689
102,879
Upwork, Inc.(b)(c)
 
172,899
1,583,755
V2X, Inc.(b)
 
44,766
4,039,684
Verra Mobility Corp., Class A(b)(c)
 
100,385
531,037
Vestis Corp.(b)(c)
 
261,172
3,776,547
Vicor Corp.(b)(c)
 
11,619
2,409,432
Virgin Galactic Holdings, Inc.(b)(c)
 
566,522
1,444,631
VSE Corp.
 
11,722
2,278,640
Wabash National Corp.(c)
 
79,523
998,809
Watts Water Technologies, Inc., Class A
 
21,744
7,518,858
Willdan Group, Inc.(b)(c)
 
8,008
548,788
Willis Lease Finance Corp.(c)
 
9,611
685,553
Worthington Enterprises, Inc.(c)
 
28,421
1,597,544
Xometry, Inc., Class A(b)(c)
 
13,649
1,169,992
Zurn Elkay Water Solutions Corp.
 
103,741
5,239,958
 
 
460,911,518
Information Technology-16.29%
8x8, Inc.(b)
 
127,488
242,227
A10 Networks, Inc.(c)
 
84,880
2,509,902
ACI Worldwide, Inc.(b)(c)
 
103,299
5,922,132
ACM Research, Inc., A Shares (China)(b)
 
42,303
3,319,516
Adeia, Inc.
 
81,536
2,172,934
ADTRAN Holdings, Inc.(b)(c)
 
181,786
1,546,999
Advanced Energy Industries, Inc.
 
29,601
8,570,082
Agilysys, Inc.(b)
 
10,387
1,092,297
Alarm.com Holdings, Inc.(b)
 
50,382
2,758,415
Alkami Technology, Inc.(b)(c)
 
40,526
736,357
Allegro MicroSystems, Inc.(b)(c)
 
95,535
3,964,703
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Information Technology-(continued)
Alpha & Omega Semiconductor Ltd.(b)(c)
 
46,999
$1,491,748
Ambarella, Inc.(b)(c)
 
36,420
3,132,120
Amplitude, Inc., Class A(b)(c)
 
94,553
839,631
AppFolio, Inc., Class A(b)(c)
 
6,890
1,241,509
Appian Corp., Class A(b)(c)
 
24,715
666,316
Applied Digital Corp.(b)(c)
 
6,827
186,992
Applied Optoelectronics, Inc.(b)
 
26,315
2,482,031
Arlo Technologies, Inc.(b)(c)
 
72,392
1,065,610
Asana, Inc., Class A(b)(c)
 
103,903
864,473
Astera Labs, Inc.(b)
 
5,585
1,738,220
Aurora Innovation, Inc.(b)(c)
 
854,643
5,512,447
AvePoint, Inc.(b)
 
46,551
606,560
Aviat Networks, Inc.(b)(c)
 
16,691
341,832
Axcelis Technologies, Inc.(b)(c)
 
45,899
5,984,312
AXT, Inc.(b)
 
5,305
320,581
Badger Meter, Inc.(c)
 
18,359
2,466,532
Bel Fuse, Inc., Class B
 
9,044
2,459,697
Belden, Inc.(c)
 
39,481
4,897,618
Benchmark Electronics, Inc.
 
38,986
3,109,913
Bentley Systems, Inc., Class B(c)
 
63,266
2,242,147
BILL Holdings, Inc.(b)(c)
 
131,117
5,917,310
Blackbaud, Inc.(b)(c)
 
51,707
2,213,060
BlackLine, Inc.(b)(c)
 
75,938
2,384,453
Blend Labs, Inc., Class A(b)
 
319,553
568,804
Box, Inc., Class A(b)(c)
 
144,811
4,568,787
Braze, Inc., Class A(b)(c)
 
52,084
1,297,933
C3.ai, Inc., Class A(b)(c)
 
190,819
1,751,718
Calix, Inc.(b)(c)
 
66,873
2,400,741
CCC Intelligent Solutions Holdings,
Inc.(b)(c)
 
844,243
5,141,440
Cerence, Inc.(b)(c)
 
179,170
1,526,528
CEVA, Inc.(b)(c)
 
36,937
1,205,993
Circle Internet Group, Inc.(b)(c)
 
7,274
455,425
Clear Secure, Inc., Class A
 
25,049
1,383,707
Clearfield, Inc.(b)(c)
 
16,284
492,754
Cloudflare, Inc., Class A(b)
 
15,963
4,453,358
Cohu, Inc.(b)(c)
 
85,983
4,126,324
Commerce.com, Inc., Series 1(b)(c)
 
113,562
355,449
Commvault Systems, Inc.(b)(c)
 
43,394
5,111,813
Comtech Telecommunications Corp.(b)
 
20,547
34,519
Consensus Cloud Solutions, Inc.(b)(c)
 
21,174
770,734
CoreWeave, Inc., Class A(b)
 
4,585
329,065
Corsair Gaming, Inc.(b)(c)
 
126,384
1,340,934
Crane NXT Co.
 
61,282
3,183,600
Credo Technology Group Holding Ltd.(b)
 
9,473
1,960,816
CTS Corp.
 
30,153
1,933,410
Daktronics, Inc.(b)(c)
 
51,566
1,019,460
Diebold Nixdorf, Inc.(b)(c)
 
30,805
2,266,940
Digi International, Inc.(b)
 
27,915
1,946,234
Digital Turbine, Inc.(b)
 
300,054
2,418,435
DigitalOcean Holdings, Inc.(b)(c)
 
47,487
5,579,722
DocuSign, Inc.(b)
 
128,956
7,070,657
Domo, Inc., Class B(b)(c)
 
97,598
360,137
Dynatrace, Inc.(b)
 
151,652
6,721,217
Eastman Kodak Co.(b)(c)
 
150,239
1,262,008
Elastic N.V.(b)
 
53,351
3,509,962
ePlus, Inc.(c)
 
22,337
2,064,162
Exodus Movement, Inc., Class A(b)(c)
 
6,613
35,512
Extreme Networks, Inc.(b)
 
161,194
4,858,387
Fastly, Inc., Class A(b)(c)
 
198,738
4,503,403
Figma, Inc., Class A(b)(c)
 
48,628
1,182,633
Five9, Inc.(b)
 
98,635
2,713,449
 
Shares
Value
Information Technology-(continued)
FormFactor, Inc.(b)
 
64,355
$6,834,501
Freshworks, Inc., Class A(b)(c)
 
228,236
2,591,620
GitLab, Inc., Class A(b)
 
58,127
2,005,963
GLOBALFOUNDRIES, Inc.
 
136,238
6,810,538
Globant S.A.(b)
 
111,244
4,071,530
Grid Dynamics Holdings, Inc.(b)(c)
 
115,306
794,458
Guidewire Software, Inc.(b)
 
38,307
5,820,366
Hackett Group, Inc. (The)
 
32,319
346,460
Harmonic, Inc.(b)(c)
 
141,772
1,637,467
HubSpot, Inc.(b)(c)
 
24,839
5,895,785
i3 Verticals, Inc., Class A(b)(c)
 
19,205
404,457
Ichor Holdings Ltd.(b)(c)
 
64,745
4,873,356
Impinj, Inc.(b)(c)
 
5,127
776,023
indie Semiconductor, Inc., A Shares
(China)(b)(c)
 
275,218
888,954
Information Services Group, Inc.(c)
 
35,951
149,556
Ingram Micro Holding Corp.(c)
 
67,078
1,892,270
Intapp, Inc.(b)(c)
 
27,462
897,733
InterDigital, Inc.(c)
 
16,610
5,063,143
IonQ, Inc.(b)(c)
 
19,351
705,150
IPG Photonics Corp.(b)(c)
 
41,160
3,501,070
Itron, Inc.(b)
 
67,208
6,697,949
JFrog Ltd.(b)
 
29,501
2,353,885
Kimball Electronics, Inc.(b)(c)
 
22,643
559,961
Klaviyo, Inc., Class A(b)(c)
 
58,197
1,038,234
Knowles Corp.(b)
 
96,563
3,533,240
Lattice Semiconductor Corp.(b)
 
54,111
6,724,374
Life360, Inc.(b)(c)
 
23,685
1,280,174
LiveRamp Holdings, Inc.(b)
 
79,356
3,005,212
MACOM Technology Solutions Holdings,
Inc.(b)
 
17,216
4,328,791
Manhattan Associates, Inc.(b)(c)
 
33,929
6,492,653
MaxLinear, Inc.(b)(c)
 
143,565
9,593,013
Methode Electronics, Inc.(c)
 
52,838
739,204
Mirion Technologies, Inc.(b)(c)
 
124,181
1,860,231
Mitek Systems, Inc.(b)(c)
 
51,578
861,353
MongoDB, Inc.(b)
 
19,880
6,709,102
N-able, Inc.(b)(c)
 
128,281
600,355
Napco Security Technologies, Inc.(c)
 
16,726
620,200
Navitas Semiconductor Corp.(b)(c)
 
65,753
714,078
nCino, Inc.(b)(c)
 
114,734
2,117,990
NCR Voyix Corp.(b)(c)
 
243,178
2,011,082
NETGEAR, Inc.(b)(c)
 
67,206
1,623,697
nLight, Inc.(b)
 
28,247
1,943,394
Novanta, Inc.(b)(c)
 
25,290
3,605,090
Nutanix, Inc., Class A(b)
 
88,186
5,203,856
OneSpan, Inc.(c)
 
58,587
906,927
Onto Innovation, Inc.(b)
 
35,949
9,295,692
Ooma, Inc.(b)(c)
 
24,351
529,634
OSI Systems, Inc.(b)(c)
 
16,532
3,660,019
Ouster, Inc.(b)(c)
 
26,976
1,052,334
Pagaya Technologies Ltd., Class A(b)
 
56,357
1,085,999
PagerDuty, Inc.(b)(c)
 
137,783
1,457,744
PAR Technology Corp.(b)(c)
 
59,125
1,002,169
PC Connection, Inc.
 
10,170
851,432
PDF Solutions, Inc.(b)(c)
 
26,850
1,237,517
Pegasystems, Inc.(c)
 
57,013
1,741,747
Penguin Solutions, Inc.(b)
 
106,289
5,593,990
Photronics, Inc.(b)(c)
 
80,067
2,425,229
Power Integrations, Inc.(c)
 
96,792
5,876,242
Powerfleet, Inc.(b)(c)
 
83,498
327,312
Procore Technologies, Inc.(b)(c)
 
53,697
2,940,985
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Information Technology-(continued)
Progress Software Corp.(b)(c)
 
106,061
$4,305,016
Q2 Holdings, Inc.(b)
 
33,033
2,010,719
Qualys, Inc.(b)
 
42,013
6,081,382
Rackspace Technology, Inc.(b)
 
59,494
245,710
Rambus, Inc.(b)
 
52,824
4,808,569
Rapid7, Inc.(b)(c)
 
131,379
1,267,807
Ribbon Communications, Inc.(b)(c)
 
87,691
187,659
Richardson Electronics Ltd.
 
11,727
214,487
Rigetti Computing, Inc.(b)(c)
 
24,130
360,744
RingCentral, Inc., Class A
 
96,025
5,340,910
Rogers Corp.(b)
 
26,049
3,216,270
Rubrik, Inc., Class A(b)(c)
 
14,981
1,084,025
Sailpoint, Inc.(b)(c)
 
34,790
583,428
Samsara, Inc., Class A(b)(c)
 
54,465
2,029,911
ScanSource, Inc.(b)
 
29,588
1,675,273
Semtech Corp.(b)
 
44,905
5,290,707
SentinelOne, Inc., Class A(b)(c)
 
216,866
4,133,466
ServiceTitan, Inc.(b)(c)
 
16,074
1,335,106
SiTime Corp.(b)
 
4,096
2,192,179
SmartRent, Inc.(b)(c)
 
183,270
185,103
SoundHound AI, Inc., Class A(b)(c)
 
57,489
352,408
Sprinklr, Inc., Class A(b)(c)
 
124,741
793,353
Sprout Social, Inc., Class A(b)(c)
 
90,790
778,978
SPS Commerce, Inc.(b)(c)
 
35,734
2,622,518
Strategy, Inc., Class A(b)
 
7,139
665,926
Telos Corp.(b)
 
85,568
379,922
Tenable Holdings, Inc.(b)(c)
 
72,984
2,382,198
Thryv Holdings, Inc.(b)(c)
 
90,301
365,719
TTM Technologies, Inc.(b)
 
83,527
9,642,357
Turtle Beach Corp.(b)(c)
 
33,308
408,023
Ubiquiti, Inc.(c)
 
1,327
738,502
UiPath, Inc., Class A(b)(c)
 
366,738
4,679,577
Ultra Clean Holdings, Inc.(b)
 
63,338
5,276,689
Unisys Corp.(b)(c)
 
91,984
263,994
Universal Display Corp.(c)
 
46,144
3,698,903
Varonis Systems, Inc.(b)(c)
 
64,224
2,565,749
Veeco Instruments, Inc.(b)(c)
 
78,644
3,932,200
Vertex, Inc., Class A(b)(c)
 
40,613
524,314
Viavi Solutions, Inc.(b)
 
245,987
9,089,220
Vishay Precision Group, Inc.(b)(c)
 
19,625
1,806,481
Workiva, Inc.(b)(c)
 
16,109
963,318
Xperi, Inc.(b)
 
52,733
406,571
Yext, Inc.(b)(c)
 
145,725
795,659
Zeta Global Holdings Corp., Class A(b)(c)
 
64,949
1,402,898
Zscaler, Inc.(b)(c)
 
11,807
1,785,218
 
 
449,938,502
Materials-3.07%
AdvanSix, Inc.
 
43,474
872,088
Alto Ingredients, Inc.(b)
 
83,999
399,835
American Vanguard Corp.(b)
 
31,678
75,710
Ardagh Metal Packaging S.A.
 
183,019
865,680
Aspen Aerogels, Inc.(b)(c)
 
208,797
966,730
Balchem Corp.(c)
 
23,779
3,984,290
Century Aluminum Co.(b)
 
43,377
1,941,988
Clearwater Paper Corp.(b)(c)
 
29,623
622,972
Coeur Mining, Inc.
 
167,645
2,499,587
Compass Minerals International, Inc.(b)(c)
 
65,855
1,932,186
Core Molding Technologies, Inc.(b)(c)
 
1,893
44,599
Ecovyst, Inc.(b)(c)
 
194,352
2,343,885
Ferroglobe PLC(c)
 
195,457
621,553
Friedman Industries, Inc.(c)
 
1,302
43,292
Greif, Inc., Class A(c)
 
31,506
2,726,844
 
Shares
Value
Materials-(continued)
Hawkins, Inc.(c)
 
15,024
$1,923,523
Hecla Mining Co.(c)
 
321,228
4,535,739
Ingevity Corp.(b)
 
35,601
2,602,789
Innospec, Inc.
 
26,371
2,267,379
Intrepid Potash, Inc.(b)
 
25,747
874,368
Kaiser Aluminum Corp.(c)
 
22,498
3,592,481
Knife River Corp.(b)(c)
 
75,928
5,555,652
Koppers Holdings, Inc.
 
20,440
1,001,969
Kronos Worldwide, Inc.(c)
 
42,833
257,855
LSB Industries, Inc.(b)(c)
 
79,969
870,063
Magnera Corp.(b)
 
82,670
1,095,377
Materion Corp.
 
24,560
5,178,230
Mativ Holdings, Inc., Class A
 
64,214
560,588
Metallus, Inc.(b)(c)
 
44,316
891,638
Minerals Technologies, Inc.
 
27,667
2,109,332
MP Materials Corp.(b)(c)
 
35,442
1,466,236
Myers Industries, Inc.(c)
 
34,340
1,173,054
Orion S.A. (Germany)
 
92,215
622,451
Perimeter Solutions, Inc.(b)(c)
 
75,734
2,318,218
Quaker Chemical Corp.(c)
 
21,245
3,410,247
Ramaco Resources, Inc., Class A(b)(c)
 
62,246
570,796
Ranpak Holdings Corp.(b)(c)
 
59,194
303,073
Rayonier Advanced Materials, Inc.(b)(c)
 
100,379
898,392
Ryerson Holding Corp.(c)
 
53,143
1,476,844
Scotts Miracle-Gro Co. (The)(c)
 
93,738
6,156,712
Sensient Technologies Corp.
 
48,498
5,997,748
Stepan Co.(c)
 
21,512
1,379,780
SunCoke Energy, Inc.(c)
 
148,056
1,255,515
Tredegar Corp.(b)
 
17,039
129,326
TriMas Corp.
 
60,645
2,421,555
United States Lime & Minerals, Inc.(c)
 
4,855
535,507
Worthington Steel, Inc.(c)
 
35,898
1,292,687
 
 
84,666,363
Real Estate-6.04%
Acadia Realty Trust(c)
 
180,774
4,061,992
AGNT, Inc.(c)
 
140,263
568,065
AH Realty Trust, Inc.(c)
 
116,575
811,362
Alexander’s, Inc.(c)
 
3,572
910,860
Alpine Income Property Trust, Inc.
 
17,829
359,789
American Assets Trust, Inc.
 
55,516
1,309,622
American Healthcare REIT, Inc.
 
88,264
4,907,478
Apartment Investment & Management
Co., Class A
 
159,498
429,050
Braemar Hotels & Resorts, Inc.
 
46,568
105,709
Brandywine Realty Trust(c)
 
385,963
1,173,328
Broadstone Net Lease, Inc.(c)
 
233,512
4,999,492
CareTrust REIT, Inc.(c)
 
105,746
4,434,987
CBL & Associates Properties, Inc.
 
18,843
1,106,273
Centerspace(c)
 
17,030
933,925
Chatham Lodging Trust
 
37,233
496,316
Chiron Real Estate, Inc.(c)
 
18,017
639,604
Community Healthcare Trust, Inc.(c)
 
33,703
617,102
Compass, Inc., Class A(b)(c)
 
708,919
8,074,587
COPT Defense Properties
 
135,747
5,152,956
CTO Realty Growth, Inc.
 
36,692
806,123
Curbline Properties Corp.(c)
 
65,326
2,001,589
DiamondRock Hospitality Co.
 
352,247
4,663,750
Diversified Healthcare Trust(c)
 
156,283
1,390,919
Douglas Elliman, Inc.(b)
 
85,531
144,547
Easterly Government Properties, Inc.(c)
 
67,651
1,647,978
Empire State Realty Trust, Inc., Class A(c)
 
216,693
1,096,467
Essential Properties Realty Trust, Inc.
 
188,492
5,897,915
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
 
Shares
Value
Real Estate-(continued)
Farmland Partners, Inc.(c)
 
60,798
$568,461
Five Point Holdings LLC, Class A(b)
 
11,274
58,512
Forestar Group, Inc.(b)(c)
 
22,511
633,685
Four Corners Property Trust, Inc.
 
94,884
2,429,030
Franklin Street Properties Corp.
 
62,960
28,596
Getty Realty Corp.(c)
 
56,622
1,933,075
Gladstone Commercial Corp.
 
66,700
833,750
Gladstone Land Corp.(c)
 
59,256
480,566
Global Net Lease, Inc.
 
247,313
2,156,569
Howard Hughes Holdings, Inc.(b)
 
36,054
2,304,572
Independence Realty Trust, Inc.
 
365,565
6,079,346
Industrial Logistics Properties Trust
 
54,198
466,645
Innovative Industrial Properties, Inc.(c)
 
38,227
2,248,130
InvenTrust Properties Corp.(c)
 
68,805
2,436,385
Lineage, Inc.(c)
 
118,412
5,017,116
LTC Properties, Inc.
 
54,930
2,210,383
LXP Industrial Trust
 
95,809
5,799,319
Marcus & Millichap, Inc.(c)
 
27,220
837,015
Millrose Properties, Inc.(c)
 
76,120
2,129,838
National Health Investors, Inc.(c)
 
33,677
2,581,342
NET Lease Office Properties(c)
 
19,794
231,590
NETSTREIT Corp.(c)
 
108,372
2,324,579
Newmark Group, Inc., Class A
 
174,823
2,621,471
NexPoint Diversified Real Estate Trust(c)
 
28,363
128,201
NexPoint Residential Trust, Inc.(c)
 
24,169
631,053
One Liberty Properties, Inc.
 
10,680
259,631
Opendoor Technologies, Inc.(b)(c)
 
1,467,399
5,532,094
Orion Properties, Inc.
 
56,694
149,672
Outfront Media, Inc.
 
181,745
5,792,213
Pebblebrook Hotel Trust
 
296,093
5,655,376
Phillips Edison & Co., Inc.
 
122,734
5,214,968
Piedmont Realty Trust, Inc., Class A(b)(c)
 
129,342
1,253,324
Postal Realty Trust, Inc., Class A(c)
 
23,086
531,901
RE/MAX Holdings, Inc., Class A(b)(c)
 
33,205
300,837
Real Brokerage, Inc. (The) (Canada)(b)(c)
 
86,692
138,707
RLJ Lodging Trust(c)
 
275,430
3,374,017
RMR Group, Inc. (The), Class A(c)
 
22,131
421,374
Ryman Hospitality Properties, Inc.
 
42,008
5,614,369
Safehold, Inc.(c)
 
55,653
900,466
Saul Centers, Inc.
 
9,109
310,344
Seaport Entertainment Group, Inc.(b)(c)
 
5,186
136,029
Seritage Growth Properties, Class A(b)(c)
 
23,026
55,493
Service Properties Trust
 
96,960
778,589
SITE Centers Corp.(c)
 
120,145
514,221
SmartStop Self Storage REIT, Inc.
 
18,168
609,355
St. Joe Co. (The)
 
22,585
1,405,690
Summit Hotel Properties, Inc.
 
121,977
839,202
Sunstone Hotel Investors, Inc.
 
254,683
2,997,619
Tanger, Inc.
 
98,055
3,986,916
Tejon Ranch Co.(b)(c)
 
15,604
264,176
Terreno Realty Corp.
 
92,307
6,613,797
UMH Properties, Inc.(c)
 
77,094
1,164,890
Universal Health Realty Income Trust(c)
 
10,082
437,760
 
Shares
Value
Real Estate-(continued)
Urban Edge Properties
 
132,099
$2,993,363
Xenia Hotels & Resorts, Inc.
 
126,294
2,599,131
 
 
166,756,538
Utilities-1.34%
American States Water Co.
 
36,618
3,135,965
Artesian Resources Corp., Class A(c)
 
4,427
152,067
California Water Service Group
 
51,080
2,559,619
Chesapeake Utilities Corp.(c)
 
17,793
2,362,555
Clearway Energy, Inc., Class C
 
135,490
4,299,098
Consolidated Water Co. Ltd.(c)
 
5,990
174,908
Genie Energy Ltd., Class B
 
16,715
232,506
H2O America(c)
 
44,484
2,728,204
Hallador Energy Co.(b)(c)
 
34,539
491,145
MDU Resources Group, Inc.
 
267,752
5,341,652
MGE Energy, Inc.
 
19,946
1,586,305
Middlesex Water Co.(c)
 
17,695
1,013,923
Northwest Natural Holding Co.
 
35,815
1,752,070
Ormat Technologies, Inc.
 
49,286
4,809,328
Otter Tail Corp.(c)
 
29,753
2,630,760
Talen Energy Corp.(b)
 
7,962
2,660,104
Unitil Corp.(c)
 
12,401
668,910
York Water Co. (The)
 
13,899
430,452
 
 
37,029,571
Total Common Stocks & Other Equity Interests
(Cost $2,239,106,715)
2,760,915,413
Money Market Funds-0.11%
Invesco Government & Agency Portfolio,
Institutional Class, 3.64%(e)(h)
(Cost $3,103,175)
 
3,103,175
3,103,175
TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral
from securities on loan)-100.05%
(Cost $2,242,209,890)
2,764,018,588
Investments Purchased with Cash Collateral from Securities
on Loan
Money Market Funds-32.51%
Invesco Private Government Fund,
3.69%(e)(h)(i)
 
254,479,707
254,479,707
Invesco Private Prime Fund, 3.82%(e)(h)(i)
 
643,590,323
643,654,682
Total Investments Purchased with Cash Collateral from
Securities on Loan
(Cost $898,148,830)
898,134,389
TOTAL INVESTMENTS IN SECURITIES-132.56%
(Cost $3,140,358,720)
3,662,152,977
OTHER ASSETS LESS LIABILITIES-(32.56)%
(899,585,931
)
NET ASSETS-100.00%
$2,762,567,046
See accompanying notes which are an integral part of this schedule.

Invesco RAFI US 1500 Small-Mid ETF (PRFZ)—(continued)
July 31, 2026
(Unaudited)
Investment Abbreviations:
REIT
-Real Estate Investment Trust
Rts.
-Rights
 
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 July 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 July 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 three months ended July 31, 2026.
 
 
Value
April 30, 2026
Purchases
at Cost
Proceeds
from Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value
July 31, 2026
Dividend Income
Invesco Mortgage Capital,
Inc.
$614,116
$2,363
$(60,238
)
$(51,844
)
$2,543
$506,940
$24,863
Investments in Affiliated
Money Market Funds:
Invesco Government &
Agency Portfolio,
Institutional Class
3,258,388
19,292,728
(19,447,941
)
-
-
3,103,175
38,395
Investments Purchased
with Cash Collateral from
Securities on Loan:
Invesco Private Government
Fund
256,005,269
265,875,071
(267,400,633
)
-
-
254,479,707
2,212,834
*
Invesco Private Prime Fund
663,255,311
482,388,129
(501,995,928
)
64,250
(57,080
)
643,654,682
5,986,633
*
Total
$923,133,084
$767,558,291
$(788,904,740
)
$12,406
$(54,537
)
$901,744,504
$8,262,725
 
*
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)
Restricted security. The value of this security at July 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 July 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
July 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 July 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 MVP Multi-factor ETF
Investments in Securities
Common Stocks & Other Equity Interests
$103,387,719
$-
$-
$103,387,719
Money Market Funds
93,977
135,170
-
229,147
Total Investments
$103,481,696
$135,170
$-
$103,616,866
Invesco RAFI US 1000 ETF
Investments in Securities
Common Stocks & Other Equity Interests
$9,792,880,643
$-
$0
$9,792,880,643
Money Market Funds
8,047,979
291,363,555
-
299,411,534
Total Investments
$9,800,928,622
$291,363,555
$0
$10,092,292,177
Invesco RAFI US 1500 Small-Mid ETF
Investments in Securities
Common Stocks & Other Equity Interests
$2,760,752,167
$-
$163,246
$2,760,915,413
Money Market Funds
3,103,175
898,134,389
-
901,237,564
Total Investments
$2,763,855,342
$898,134,389
$163,246
$3,662,152,977