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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Valero Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>L3Harris Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>KLA Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ross Stores, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Elevance Health, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Western Digital Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Expand Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AT&amp;T Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cummins Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EQT Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Universal Health Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lennar Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Corteva, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>U.S. Bancorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>D.R. Horton, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>C.H. Robinson Worldwide, Inc.</name>
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        <name>Nucor Corp.</name>
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        <name>eBay Inc.</name>
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        <name>Phillips 66</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Fortive Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Johnson Controls International PLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AppLovin Corp.</name>
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        <title>AppLovin Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Host Hotels &amp; Resorts, Inc.</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>Host Hotels &amp; Resorts, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>EMCOR Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ConocoPhillips</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Hartford Insurance Group, Inc. (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Incyte Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Huntington Ingalls Industries, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dollar General Corp.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Target Corp.</name>
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        <title>Target Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PulteGroup, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newmont Corp.</name>
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        <title>Newmont Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Biogen Inc.</name>
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        <title>Biogen Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Everest Group, Ltd.</name>
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        <title>Everest Group, Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Allstate Corp. (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Snap-on Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Solventum Corp.</name>
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        <title>Solventum Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>ON Semiconductor Corp.</name>
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        <title>ON Semiconductor Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Assurant, Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Chubb Ltd.</name>
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        <title>Chubb Ltd.</title>
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        <invCountry>CH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Skyworks Solutions, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Expedia Group, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Aptiv PLC</name>
        <lei>254900HTTDFIJZ32GX53</lei>
        <title>Aptiv PLC</title>
        <cusip>G3265R107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Baker Hughes Co.</name>
        <lei>549300XU3XH6F05YEQ93</lei>
        <title>Baker Hughes Co., Class A</title>
        <cusip>05722G100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nordson Corp.</name>
        <lei>14OS6Q5N55N95WM84M53</lei>
        <title>Nordson Corp.</title>
        <cusip>655663102</cusip>
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        <balance>923.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APA Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tyson Foods, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Textron Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Globe Life Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Raymond James Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Motors Co.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Marathon Petroleum Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Fox Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Franklin Templeton, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cincinnati Financial Corp.</name>
        <lei>254900Q4WEDMZBOZ0002</lei>
        <title>Cincinnati Financial Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Edison International</name>
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        <title>Edison International</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Comfort Systems USA, Inc.</name>
        <lei>5299009DT1ZA5HTU6R38</lei>
        <title>Comfort Systems USA, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FedEx Corp.</name>
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        <title>FedEx Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Private Prime Fund</name>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>KeyCorp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bunge Global S.A.</name>
        <lei>254900IVXSV9K0B7PO26</lei>
        <title>Bunge Global S.A.</title>
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        <invCountry>CH</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CF Industries Holdings, Inc.</name>
        <lei>529900CG8YAQFZ2JMV97</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ExxonMobil Holdings Corp.</name>
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        <title>ExxonMobil Holdings Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>T. Rowe Price Group, Inc.</name>
        <lei>549300SIV6FPS9Y7IH33</lei>
        <title>T. Rowe Price Group, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Progressive Corp. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Sandisk Corp.</name>
        <lei>5299007I9R9N3RO43S32</lei>
        <title>Sandisk Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>M&amp;T Bank Corp.</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>DuPont de Nemours, Inc.</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89832Q109</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Apple Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Principal Financial Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>J.B. Hunt Transport Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Best Buy Co., Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arch Capital Group Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>General Dynamics Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Government &amp; Agency Portfolio</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Expeditors International of Washington, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Synchrony Financial</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Invesco Private Government Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cigna Group (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Humana Inc.</name>
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        <title>Humana Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>GE Vernova Inc.</name>
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        <title>GE Vernova Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Tapestry, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Delta Air Lines, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Citizens Financial Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Travelers Cos., Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Halliburton Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Regions Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Caterpillar Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Devon Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Jabil Inc.</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>Jabil Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ameriprise Financial, Inc.</name>
        <lei>6ZLKQF7QB6JAEKQS5388</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NetApp, Inc.</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
        <title>NetApp, Inc.</title>
        <cusip>64110D104</cusip>
        <identifiers>
          <isin value="US64110D1046"/>
        </identifiers>
        <balance>3687.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>683164.23000000</valUSD>
        <pctVal>0.515518054874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
