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Schedule of Investments

Invesco AAA CLO Floating Rate Note ETF (ICLO)

January 31, 2023

(Unaudited)


	Principal Amount			Value
Asset-Backed Securities-99.54%
ABPCI Direct Lending Fund IX LLC (Cayman Islands), Series 2020-9A, Class A1R, 6.22% (3 mo. USD LIBOR + 1.40%), 11/18/2031^(a)(b)		$	500,000		$	492,715
AGL CLO 14 Ltd. (Cayman Islands), Series 2021-14A, Class A, 5.97% (3 mo. USD LIBOR + 1.15%), 12/02/2034^(a)(b)			1,500,000			1,480,965
Aimco CLO 14 Ltd. (Cayman Islands), Series 2021-14A, Class A, 5.80% (3 mo. USD LIBOR + 0.99%), 04/20/2034^(a)(b)			1,500,000			1,472,305
Ballyrock CLO Ltd. (Cayman Islands) Series 2018-1A, Class A1, 5.81% (3 mo. USD LIBOR + 1.00%), 04/20/2031^(a)(b)			1,250,000			1,239,860
Series 2019-2A, Class A1AR, 5.68% (3 mo. USD LIBOR + 1.00%), 11/20/2030^(a)(b)			500,000			497,056
Benefit Street Partners CLO III Ltd. (Cayman Islands), Series 2013-IIIA, Class A2R2, 6.46% (3 mo. USD LIBOR + 1.65%), 07/20/2029^(a)(b)			850,000			843,015
Benefit Street Partners CLO XI (Cayman Islands), Series 2017-11A, Class A2R, 6.29% (3 mo. USD LIBOR + 1.50%), 04/15/2029^(a)(b)			1,000,000			980,300
Benefit Street Partners CLO XII Ltd. (Cayman Islands), Series 2017-12A, Class A1R, 5.74% (3 mo. USD LIBOR + 0.95%), 10/15/2030^(a)(b)			494,228			489,170
Benefit Street Partners CLO XXII Ltd. (Cayman Islands), Series 2020-22A, Class AR, 5.99% (3 mo. Term SOFR + 1.35%), 04/20/2035^(a)(b)			1,645,000			1,611,419
Buckhorn Park CLO Ltd. (Cayman Islands), Series 2019-1A, Class AR, 5.92% (3 mo. USD LIBOR + 1.12%), 07/18/2034^(a)(b)			1,325,000			1,310,250
Carlyle Global Market Strategies CLO Ltd. (Cayman Islands), Series 2013-1A, Class A1RR, 5.60% (3 mo. USD LIBOR + 0.95%), 08/14/2030^(a)(b)			741,519			736,193
Cedar Funding IV CLO Ltd. (Cayman Islands), Series 2014-4A, Class ARR, 5.98% (3 mo. USD LIBOR + 1.16%), 07/23/2034^(a)(b)			1,000,000			980,844
Cedar Funding XI CLO Ltd. (Cayman Islands), Series 2019-11A, Class A1R, 5.79% (3 mo. USD LIBOR + 1.05%), 05/29/2032^(a)(b)			1,500,000			1,485,802
CIFC Funding Ltd. (Cayman Islands), Series 2020-2A, Class AR, 5.98% (3 mo. USD LIBOR + 1.17%), 10/20/2034^(a)(b)			455,000			450,707
Dewolf Park CLO Ltd. (Cayman Islands), Series 2017-1A, Class AR, 5.71% (3 mo. USD LIBOR + 0.92%), 10/15/2030^(a)(b)			1,000,000			991,266
Galaxy Xxviii CLO Ltd. (Cayman Islands), Series 2018-28A, Class A2, 6.09% (3 mo. USD LIBOR + 1.30%), 07/15/2031^(a)(b)			750,000			746,535
GoldenTree Loan Management US CLO 2 Ltd. (Cayman Islands), Series 2017-2A, Class AR, 5.72% (3 mo. USD LIBOR + 0.91%), 11/20/2030^(a)(b)			900,000			893,588


	Principal Amount			Value
Golub Capital Partners CLO 25M Ltd. (Cayman Islands), Series 2015-25A, Class AR, 5.91% (3 mo. USD LIBOR + 1.38%), 05/05/2030^(a)(b)		$	1,497,951		$	1,487,012
Golub Capital Partners CLO 45(M) Ltd. (Cayman Islands), Series 2019-45A, Class A, 6.53% (3 mo. USD LIBOR + 1.72%), 10/20/2031^(a)(b).			1,250,000			1,241,014
Madison Park Funding XXXVII Ltd. (Cayman Islands), Series 2019-37A, Class AR, 5.86% (3 mo. USD LIBOR + 1.07%), 07/15/2033^(a)(b)			1,340,000			1,327,578
Mariner CLO LLC (Cayman Islands), Series 2016-3A, Class BR2, 6.32% (3 mo. USD LIBOR + 1.50%), 07/23/2029^(a)(b)			1,000,000			983,032
Palmer Square CLO Ltd. (Cayman Islands), Series 2015-1A, Class A1A4, 5.81% (3 mo. USD LIBOR + 1.13%), 05/21/2034^(a)(b)			500,000			494,415
Rad CLO 5 Ltd. (Cayman Islands), Series 2019- 5A, Class BR, 6.52% (3 mo. USD LIBOR + 1.70%), 07/24/2032^(a)(b)			2,000,000			1,964,656
RR 1 LLC (Cayman Islands), Series 2017-1A, Class A1AB, 5.94% (3 mo. USD LIBOR + 1.15%), 07/15/2035^(a)(b)			1,310,000			1,295,781
RR 14 Ltd. (Cayman Islands), Series 2021-14A, Class A1, 5.91% (3 mo. USD LIBOR + 1.12%), 04/15/2036^(a)(b)			500,000			492,395
Signal Peak CLO 1 Ltd. (Cayman Islands), Series 2014-1A, Class AR3, 5.95% (3 mo. USD LIBOR + 1.16%), 04/17/2034^(a)(b)			1,500,000			1,483,872
Symphony CLO XV Ltd. (Cayman Islands), Series 2014-15A, Class AR3, 5.87% (3 mo. USD LIBOR + 1.08%), 01/17/2032^(a)(b)			1,000,000			987,339
Symphony CLO XVI Ltd. (Cayman Islands), Series 2015-16A, Class AR, 5.94% (3 mo. USD LIBOR + 1.15%), 10/15/2031^(a)(b)			500,000			494,733
Thompson Park CLO Ltd. (Cayman Islands), Series 2021-1A, Class A1, 5.79% (3 mo. USD LIBOR + 1.00%), 04/15/2034^(a)(b)			1,365,000			1,342,603

Total Asset-Backed Securities (Cost $29,996,414)						30,296,420


	Shares
Money Market Funds-0.11%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%^(c)(d) (Cost $33,984)			33,984			33,984

TOTAL INVESTMENTS IN SECURITIES-99.65% (Cost $30,030,398)						30,330,404
OTHER ASSETS LESS LIABILITIES-0.35%						108,030


NET ASSETS-100.00%					$	30,438,434

See accompanying notes which are an integral part of this schedule.

Invesco AAA CLO Floating Rate Note ETF (ICLO)—(continued)

January 31, 2023

(Unaudited)

Investment Abbreviations:

BR	-Bearer Shares

CLO	-Collateralized Loan Obligation

LIBOR

-London Interbank Offered Rate

SOFR	-Secured Overnight Financing Rate

USD	-U.S. Dollar

Notes to Schedule of Investments:

^(a)

Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”). The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at January 31, 2023 was $30,296,420, which represented 99.53% of the Fund’s Net Assets.

^(b)	Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on January 31, 2023.

^(c)

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. The table below shows the Fund’s transactions in, and earnings from, its investments in affiliates for the period ended January 31, 2023.


	Value October 31, 2022	Purchases at Cost	Proceeds from Sales	Change in Unrealized Appreciation	Realized Gain	Value January 31, 2023	Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional Class	$-	$2,598,512	$(2,564,528)	$-	$-	$33,984	$1,065

^(d)	The rate shown is the 7-day SEC standardized yield as of January 31, 2023.

The valuation policy and a listing of other significant accounting policies are available in the most recent Statement of Additional Information.

See accompanying notes which are an integral part of this schedule.

Schedule of Investments^(a)

Invesco Active U.S. Real Estate ETF (PSR)

January 31, 2023

(Unaudited)


	Shares		Value
Common Stocks & Other Equity Interests-99.98%
Apartments-9.58%
Apartment Income REIT Corp.		38,546		$	1,474,770
AvalonBay Communities, Inc.		8,313			1,475,059
Camden Property Trust		11,830			1,457,574
Equity Residential		23,019			1,465,159
Essex Property Trust, Inc.		6,385			1,443,457
Independence Realty Trust, Inc.^(b)		78,570			1,479,473
Mid-America Apartment Communities, Inc.		8,726			1,454,799
UDR, Inc.		34,755			1,480,215
Veris Residential, Inc.^(c)		83,059			1,436,921


					13,167,427

Data Centers-8.46%
Digital Realty Trust, Inc.		52,118			5,973,765
Equinix, Inc.		7,652			5,648,171


					11,621,936

Diversified-3.35%
Elme Communities^(b)		75,754			1,454,477
JBG SMITH Properties		57,101			1,150,014
Vornado Realty Trust		34,470			840,723
W.P. Carey, Inc.^(b)		13,496			1,154,313


					4,599,527

Free Standing-5.83%
Agree Realty Corp.		14,969			1,117,137
Essential Properties Realty Trust, Inc.		45,809			1,167,213
Four Corners Property Trust, Inc.		39,675			1,141,053
National Retail Properties, Inc.		23,549			1,115,045
NETSTREIT Corp.^(b)		57,173			1,150,893
Realty Income Corp.		16,922			1,147,819
Spirit Realty Capital, Inc.		26,540			1,164,575


					8,003,735

Health Care-7.29%
CareTrust REIT, Inc.		70,589			1,462,604
Healthcare Realty Trust, Inc.		65,941			1,419,710
Healthpeak Properties, Inc.		50,339			1,383,316
National Health Investors, Inc.		24,690			1,452,513
Physicians Realty Trust		89,761			1,423,609
Ventas, Inc.		27,795			1,440,059
Welltower, Inc.		19,138			1,436,115


					10,017,926

Industrial-13.60%
Americold Realty Trust, Inc.		71,749			2,253,636
EastGroup Properties, Inc.		13,898			2,338,338
First Industrial Realty Trust, Inc.		43,806			2,337,050
Plymouth Industrial REIT, Inc.^(b)		107,039			2,395,533
Prologis, Inc.		18,353			2,372,676
Rexford Industrial Realty, Inc.		37,963			2,409,512
STAG Industrial, Inc.		63,936			2,276,122
Terreno Realty Corp.^(b)		35,663			2,297,767


					18,680,634

Infrastructure REITs-16.33%
American Tower Corp.		33,098			7,393,762
Crown Castle, Inc.		51,078			7,565,163
SBA Communications Corp., Class A		25,136			7,478,714


					22,437,639

Lodging Resorts-2.71%
Apple Hospitality REIT, Inc.		25,340			449,278
DiamondRock Hospitality Co.		48,250			464,648
Host Hotels & Resorts, Inc.		24,564			463,031


	Shares		Value
Lodging Resorts-(continued)
Pebblebrook Hotel Trust^(b)		29,867		$	489,819
RLJ Lodging Trust		37,076			466,045
Ryman Hospitality Properties, Inc.		4,883			453,582
Summit Hotel Properties, Inc.		55,491			472,783
Sunstone Hotel Investors, Inc.^(b)		41,827			459,679


					3,718,865

Manufactured Homes-3.21%
Equity LifeStyle Properties, Inc.		20,700			1,485,846
Sun Communities, Inc.		9,370			1,469,778
UMH Properties, Inc.		81,128			1,453,814


					4,409,438

Office-3.04%
Alexandria Real Estate Equities, Inc.		5,165			830,222
Corporate Office Properties Trust		28,706			805,777
Cousins Properties, Inc.^(b)		30,928			848,046
Kilroy Realty Corp.		19,819			813,372
Orion Office REIT, Inc.^(b)		90,892			877,108


					4,174,525

Regional Malls-0.83%
Simon Property Group, Inc.		8,920			1,145,863

Self Storage-8.02%
CubeSmart		49,616			2,271,917
Extra Space Storage, Inc.		13,628			2,150,907
Life Storage, Inc.		20,379			2,201,747
National Storage Affiliates Trust		54,646			2,229,557
Public Storage		7,116			2,165,683


					11,019,811

Shopping Centers-7.53%
Acadia Realty Trust		74,370			1,154,966
Brixmor Property Group, Inc.		50,338			1,184,453
Federal Realty Investment Trust		10,261			1,144,410
Kimco Realty Corp.		52,460			1,178,252
Phillips Edison & Co., Inc.^(b)		33,225			1,113,702
Regency Centers Corp.		16,975			1,131,044
Retail Opportunity Investments Corp.		72,400			1,146,092
SITE Centers Corp.^(b)		84,722			1,156,455
Urban Edge Properties^(b)		72,260			1,138,095


					10,347,469

Single Family Homes-2.13%
American Homes 4 Rent, Class A		42,988			1,474,059
Invitation Homes, Inc.		44,709			1,453,042


					2,927,101

Specialty-5.06%
Gaming and Leisure Properties, Inc.		31,731			1,699,512
Lamar Advertising Co., Class A		16,497			1,757,590
Outfront Media, Inc.		88,181			1,754,802
VICI Properties, Inc.		50,808			1,736,618


					6,948,522

Timber REITs-3.01%
PotlatchDeltic Corp.		28,904			1,414,851
Rayonier, Inc.		36,676			1,334,640
Weyerhaeuser Co.		40,294			1,387,322


					4,136,813

TOTAL INVESTMENTS IN SECURITIES
(excluding investments purchased with cash collateral from securities on loan)-99.98% (Cost $141,285,873)					137,357,231

See accompanying notes which are an integral part of this schedule.

Invesco Active U.S. Real Estate ETF (PSR)–(continued)

January 31, 2023

(Unaudited)


	Shares		Value
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-9.20%
Invesco Private Government Fund, 4.36%^(d)(e)(f)		3,540,809		$	3,540,809
Invesco Private Prime Fund, 4.59%^(d)(e)(f)		9,103,764			9,106,495

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $12,647,383)					12,647,304

TOTAL INVESTMENTS IN SECURITIES-109.18% (Cost $153,933,256)					150,004,535
OTHER ASSETS LESS LIABILITIES-(9.18)%					(12,617,769	)


NET ASSETS-100.00%				$	137,386,766

Investment Abbreviations:

REIT-Real Estate Investment Trust

Notes to Schedule of Investments:

^(a)	Property type classifications used in this report are generally according to FTSE National Association of Real Estate Investment Trusts (“NAREIT”) Equity REITs Index, which is exclusively owned by NAREIT.

^(b)	All or a portion of this security was out on loan at January 31, 2023.

^(c)	Non-income producing security.

^(d)


	Value October 31, 2022			Purchases at Cost			Proceeds from Sales				Change in Unrealized Appreciation (Depreciation)				Realized Gain			Value January 31, 2023			Dividend Income
Investments in Affiliated Money Market Funds:
Invesco Government & Agency Portfolio, Institutional Class		$	-		$	1,001,735		$	(1,001,735	)		$	-			$	-		$	-		$	613
Investments Purchased with Cash Collateral from Securities on Loan:
Invesco Private Government Fund			1,689,902			8,652,727			(6,801,820	)			-				-			3,540,809			23,108	*
Invesco Private Prime Fund			4,344,289			20,435,603			(15,675,676	)			(155	)			2,434			9,106,495			65,450	*

Total		$	6,034,191		$	30,090,065		$	(23,479,231	)		$	(155	)		$	2,434		$	12,647,304		$	89,171

*	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 January 31, 2023.

^(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

Invesco Balanced Multi-Asset Allocation ETF (PSMB)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 103.32%^(a)


	% of Net Assets 01/31/23		Value 10/31/22		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Dividend Income		Shares 01/31/23		Value 01/31/23
Domestic Equity Funds-47.27%
Invesco Preferred ETF		-	$	714,131	$	-	$	(709,086	)	$	163,225		$	(168,270	)	$	-		-	$	-
Invesco RAFI™ Strategic US ETF^(b)		12.83%		4,272,279		1,427,368		(953,848	)		237,205			47,781			19,516		130,365		5,030,785
Invesco RAFI™ Strategic US Small Company ETF		3.07%		1,122,628		275,032		(303,847	)		43,850			67,243			5,044		32,742		1,204,906
Invesco Russell 1000^® Dynamic Multifactor ETF		8.75%		3,122,082		739,702		(771,233	)		319,324			22,209			15,230		72,468		3,432,084
Invesco S&P 500^® Low Volatility ETF		4.50%		1,671,549		434,957		(396,491	)		31,787			23,140			9,711		27,655		1,764,942
Invesco S&P 500^® Pure Growth ETF		13.05%		4,887,778		1,293,503		(1,120,711	)		53,376			1,082			13,152		32,528		5,115,028
Invesco S&P MidCap Low Volatility ETF		3.06%		1,121,324		264,460		(258,139	)		57,869			12,430			4,804		21,457		1,197,944
Invesco S&P SmallCap Low Volatility ETF^(b)		2.01%		755,166		205,317		(189,350	)		(2,811	)		20,463			2,580		16,843		788,785

Total Domestic Equity Funds				17,666,937		4,640,339		(4,702,705	)		903,825			26,078			70,037				18,534,474

Fixed Income Funds-39.50%
Invesco 1-30 Laddered Treasury ETF		11.39%		4,306,541		1,062,669		(1,206,739	)		369,565			(67,516	)		26,121		149,016		4,464,520
Invesco Emerging Markets Sovereign Debt ETF^(b)		1.95%		789,280		160,176		(303,524	)		181,820			(62,892	)		12,683		38,944		764,860
Invesco Fundamental High Yield^® Corporate Bond ETF		5.43%		1,435,080		1,061,043		(452,034	)		80,647			5,744			19,919		121,050		2,130,480
Invesco Investment Grade Defensive ETF		2.07%		674,361		284,148		(171,065	)		23,053			1,558			5,614		33,556		812,055
Invesco Investment Grade Value ETF		1.19%		357,531		182,397		(105,300	)		29,793			1,227			4,450		19,891		465,648
Invesco PureBeta^SM0-5 Yr US TIPS ETF		3.95%		1,416,679		456,464		(321,743	)		(101	)		15,708			-		63,116		1,550,281
Invesco Senior Loan ETF^(b)		2.47%		888,991		251,213		(190,906	)		17,345			1,567			20,693		45,865		968,210
Invesco Taxable Municipal Bond ETF^(b)		4.63%		1,925,641		400,954		(659,860	)		224,402			(74,788	)		16,552		67,397		1,816,349
Invesco Variable Rate Investment Grade ETF		6.42%		1,758,639		1,239,519		(512,734	)		29,922			2,286			32,498		101,191		2,517,632

Total Fixed Income Funds				13,552,743		5,098,583		(3,923,905	)		956,446			(177,106	)		138,530				15,490,035

Foreign Equity Funds-13.22%
Invesco RAFI™ Strategic Developed ex-US ETF		3.44%		1,613,947		274,055		(771,732	)		307,688			(76,644	)		4,174		46,133		1,347,314
Invesco RAFI™ Strategic Emerging Markets ETF		2.73%		914,573		306,046		(479,407	)		360,914			(30,452	)		4,039		42,838		1,071,674
Invesco S&P Emerging Markets Low Volatility ETF		2.72%		974,070		240,413		(271,140	)		118,719			3,274			4,650		44,426		1,065,336
Invesco S&P International Developed Low Volatility ETF		4.33%		1,572,867		349,053		(420,520	)		196,776			1,872			10,858		60,716		1,700,048

Total Foreign Equity Funds				5,075,457		1,169,567		(1,942,799	)		984,097			(101,950	)		23,721				5,184,372

See accompanying notes which are an integral part of this schedule.

Invesco Balanced Multi-Asset Allocation ETF (PSMB)–(continued)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 103.32%^(a)


	% of Net Assets 01/31/23		Value 10/31/22		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Dividend Income			Shares 01/31/23		Value 01/31/23
Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%		-	$	1,204	$	198,163	$	(199,367	)	$	-		$	-		$	106			-	$	-

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)-99.99% (Cost $40,365,808)		99.99%		36,296,341		11,106,652		(10,768,776	)		2,844,368			(252,978	)		232,394					39,208,881


Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-3.33%
Invesco Private Government Fund, 4.36%^(c)(d)		0.93%		250,046		3,787,205		(3,672,394	)		-			-			4,573	*		364,857		364,857
Invesco Private Prime Fund, 4.59%^(c)(d)		2.40%		643,159		9,795,508		(9,500,331	)		(5	)		469			12,618	*		938,518		938,800

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $1,303,657)		3.33%		893,205		13,582,713		(13,172,725	)		(5	)		469			17,191					1,303,657

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $41,669,465)		103.32%	$	37,189,546	$	24,689,365	$	(23,941,501	)	$	2,844,363		$	(252,509	)^(e)	$	249,585				$	40,512,538

OTHER ASSETS LESS LIABILITIES		(3.32)%																				(1,300,295	)

NET ASSETS		100.00%																			$	39,212,243

Investment Abbreviations:

ETF-Exchange-Traded Fund

Notes to Schedule of Investments:

^(a)	Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.

^(b)	All or a portion of this security was out on loan at January 31, 2023.

^(c)	The rate shown is the 7-day SEC standardized yield as of January 31, 2023.

^(d)	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.

^(e)	Includes capital gains distributions from affiliated underlying funds as follows:


Fund Name		Capital Gain
Invesco PureBeta^SM0-5 Yr US TIPS ETF		$16,726

*	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.

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

Invesco Conservative Multi-Asset Allocation ETF (PSMC)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 105.56%^(a)


	% of									Change in
	Net									Unrealized			Realized
	Assets		Value		Purchases		Proceeds			Appreciation			Gain			Dividend		Shares		Value
	01/31/23		10/31/22		at Cost		from Sales			(Depreciation)			(Loss)			Income		01/31/23		01/31/23
Domestic Equity Funds-15.57%
Invesco Preferred ETF		-	$	419,303	$	-	$	(416,341	)	$	131,706		$	(134,668	)	$	-		-	$	-
Invesco RAFI™ Strategic US ETF .		2.86%		344,513		112,350		(58,251	)		24,311			1,297			1,688		10,993		424,220
Invesco RAFI™ Strategic US Small Company ETF		1.76%		213,438		70,263		(48,000	)		25,549			(1,184	)		1,117		7,067		260,066
Invesco Russell 1000^® Dynamic Multifactor ETF		3.11%		369,713		120,920		(76,319	)		46,612			550			2,101		9,744		461,476
Invesco S&P 500^® Low Volatility ETF		3.03%		373,898		117,859		(60,002	)		15,375			1,269			2,512		7,026		448,399
Invesco S&P 500^® Pure Growth ETF		4.81%		599,162		205,273		(103,273	)		15,097			(4,074	)		1,878		4,529		712,185

Total Domestic Equity Funds				2,320,027		626,665		(762,186	)		258,650			(136,810	)		9,296				2,306,346

Fixed Income Funds-79.66%
Invesco 1-30 Laddered Treasury ETF		13.48%		1,625,547		508,998		(281,981	)		157,009			(12,919	)		11,908		66,644		1,996,654
Invesco Emerging Markets Sovereign Debt ETF		3.94%		421,311		195,128		(121,526	)		107,447			(19,464	)		9,865		29,679		582,896
Invesco Fundamental High Yield^® Corporate Bond ETF		14.55%		1,564,878		738,191		(241,272	)		88,716			4,009			20,513		122,416		2,154,522
Invesco Investment Grade Defensive ETF		4.68%		464,443		282,542		(76,111	)		20,406			1,251			4,850		28,617		692,531
Invesco Investment Grade Value ETF		2.59%		251,942		155,908		(50,128	)		26,832			(326	)		3,738		16,413		384,228
Invesco PureBeta^SM0-5 Yr US TIPS ETF		6.78%		802,101		310,210		(107,250	)		(524	)		10,710			-		40,881		1,004,135
Invesco Senior Loan ETF^(b)		5.58%		626,366		272,038		(87,573	)		14,882			364			17,989		39,132		826,077
Invesco Taxable Municipal Bond ETF		14.61%		1,974,209		520,308		(516,423	)		266,576			(80,585	)		20,099		80,300		2,164,085
Invesco Variable Rate Investment Grade ETF		13.45%		1,416,142		760,891		(211,516	)		25,231			1,369			26,140		80,069		1,992,117

Total Fixed Income Funds				9,146,939		3,744,214		(1,693,780	)		706,575			(95,591	)		115,102				11,797,245

Foreign Equity Funds-4.75%
Invesco RAFI™ Strategic Developed ex-US ETF		1.76%		212,963		65,373		(61,844	)		45,503			(1,691	)		827		8,913		260,304
Invesco RAFI™ Strategic Emerging Markets ETF		1.13%		126,029		50,743		(60,453	)		60,693			(9,299	)		648		6,704		167,713
Invesco S&P International Developed Low Volatility ETF		1.86%		224,439		67,162		(48,721	)		33,940			(1,384	)		1,805		9,837		275,436

Total Foreign Equity Funds				563,431		183,278		(171,018	)		140,136			(12,374	)		3,280				703,453

Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%		-		-		123,820		(123,820	)		-			-			34		-		-

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)-99.98% (Cost $15,816,864)		99.98%		12,030,397		4,677,977		(2,750,804	)		1,105,361			(244,775	)		127,712				14,807,044

See accompanying notes which are an integral part of this schedule.

Invesco Conservative Multi-Asset Allocation ETF (PSMC)–(continued)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 105.56%^(a)


	% of									Change in
	Net									Unrealized			Realized
	Assets		Value		Purchases		Proceeds			Appreciation			Gain			Dividend			Shares		Value
	01/31/23		10/31/22		at Cost		from Sales			(Depreciation)			(Loss)			Income			01/31/23		01/31/23
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-5.58%
Invesco Private Government Fund, 4.36%^(c)(d)		1.56%	$	297,696	$	3,055,609	$	(3,121,832	)	$	-		$	-		$	3,744	*		231,473	$	231,473
Invesco Private Prime Fund, 4.59%^(c)(d)		4.02%		765,328		7,117,011		(7,287,021	)		(57	)		193			10,096	*		595,275		595,454

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $826,976)		5.58%		1,063,024		10,172,620		(10,408,853	)		(57	)		193			13,840					826,927

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $16,643,840)		105.56%	$	13,093,421	$	14,850,597	$	(13,159,657	)	$	1,105,304		$	(244,582	)^(e)	$	141,552				$	15,633,971

OTHER ASSETS LESS LIABILITIES		(5.56)%																				(823,274	)

NET ASSETS		100.00%																			$	14,810,697

Investment Abbreviations:

ETF-Exchange-Traded Fund

Notes to Schedule of Investments:

^(a)	Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.

^(b)	All or a portion of this security was out on loan at January 31, 2023.

^(c)	The rate shown is the 7-day SEC standardized yield as of January 31, 2023.

^(d)	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.

^(e)	Includes capital gains distributions from affiliated underlying funds as follows:


Fund Name		Capital Gain
Invesco PureBeta^SM0-5 Yr US TIPS ETF		$11,112

*	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.

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

Invesco Growth Multi-Asset Allocation ETF (PSMG)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 102.19%^(a)


	% of Net Assets 01/31/23		Value 10/31/22		Purchases at Cost		Proceeds from Sales			Change in Unrealized Appreciation (Depreciation)			Realized Gain (Loss)			Dividend Income		Shares 01/31/23		Value 01/31/23
Domestic Equity Funds-62.33%
Invesco RAFI™ Strategic US ETF		16.10%	$	3,940,718	$	2,451,443	$	(1,355,194	)	$	147,080		$	90,126		$	23,740		136,672	$	5,274,173
Invesco RAFI™ Strategic US Small Company ETF		4.42%		1,168,776		609,781		(447,088	)		6,849			109,578			7,039		39,345		1,447,896
Invesco Russell 1000^® Dynamic Multifactor ETF		11.75%		3,017,007		1,592,138		(1,108,359	)		287,395			60,671			19,821		81,268		3,848,852
Invesco S&P 500^® Low Volatility ETF^(b)		8.85%		2,350,442		1,299,555		(827,795	)		24,569			52,061			15,676		45,422		2,898,832
Invesco S&P 500^® Pure Growth ETF		14.94%		4,069,875		2,208,412		(1,354,217	)		(28,750	)		(2,329	)		14,589		31,116		4,892,991
Invesco S&P MidCap Low Volatility ETF		3.66%		964,080		497,320		(323,737	)		30,768			28,899			5,548		21,446		1,197,330
Invesco S&P SmallCap Low Volatility ETF		2.61%		703,585		388,671		(249,249	)		(20,408	)		32,218			3,232		18,253		854,817

Total Domestic Equity Funds				16,214,483		9,047,320		(5,665,639	)		447,503			371,224			89,645				20,414,891

Fixed Income Funds-19.79%
Invesco 1-30 Laddered Treasury ETF		8.92%		2,345,842		1,327,908		(924,193	)		194,374			(21,513	)		17,020		97,544		2,922,418
Invesco Fundamental High Yield^® Corporate Bond ETF		2.38%		518,752		454,374		(225,394	)		26,443			3,217			7,135		44,170		777,392
Invesco Investment Grade Defensive ETF		2.07%		514,282		339,837		(194,114	)		17,572			894			4,659		28,036		678,471
Invesco PureBeta^SM0-5 Yr US TIPS ETF		1.97%		512,333		316,188		(180,409	)		(745	)		5,876			-		26,268		645,205
Invesco Senior Loan ETF^(b)		1.48%		387,174		221,236		(132,073	)		7,488			1,241			10,550		22,978		485,066
Invesco Taxable Municipal Bond ETF		0.99%		388,515		140,366		(228,732	)		59,258			(34,659	)		2,892		12,050		324,748
Invesco Variable Rate Investment Grade ETF		1.98%		510,935		306,836		(180,170	)		8,023			1,007			8,329		25,990		646,631

Total Fixed Income Funds				5,177,833		3,106,745		(2,065,085	)		312,413			(43,937	)		50,585				6,479,931

Foreign Equity Funds-17.88%
Invesco RAFI™ Strategic Developed ex-US ETF		4.94%		1,560,422		644,474		(836,385	)		282,615			(34,337	)		5,760		55,360		1,616,789
Invesco RAFI™ Strategic Emerging Markets ETF		3.40%		867,403		494,705		(574,822	)		351,931			(24,314	)		4,854		44,566		1,114,903
Invesco S&P Emerging Markets Low Volatility ETF		3.78%		1,000,061		510,438		(406,403	)		117,185			17,334			6,258		51,652		1,238,615
Invesco S&P International Developed Low Volatility ETF		5.76%		1,529,574		751,688		(589,707	)		190,334			4,387			13,928		67,367		1,886,276

Total Foreign Equity Funds				4,957,460		2,401,305		(2,407,317	)		942,065			(36,930	)		30,800				5,856,583

Money Market Funds-0.00%
Invesco Government & Agency Portfolio, Institutional Class, 4.30%		-		-		167,076		(167,076	)		-			-			168		-		-

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (excluding investments purchased with cash collateral from securities on loan)-100.00% (Cost $33,064,876)		100.00%		26,349,776		14,722,446		(10,305,117	)		1,701,981			290,357			171,198				32,751,405

See accompanying notes which are an integral part of this schedule.

Invesco Growth Multi-Asset Allocation ETF (PSMG)–(continued)

January 31, 2023

(Unaudited)

Schedule of Investments in Affiliated Issuers- 102.19%^(a)


	% of									Change in
	Net									Unrealized			Realized
	Assets		Value		Purchases		Proceeds			Appreciation			Gain			Dividend			Shares		Value
	01/31/23		10/31/22		at Cost		from Sales			(Depreciation)			(Loss)			Income			01/31/23		01/31/23
Investments Purchased with Cash Collateral from Securities on Loan
Money Market Funds-2.19%
Invesco Private Government Fund, 4.36%^(c)(d)		0.61%	$	149,010	$	1,850,022	$	(1,797,975	)	$	-		$	-		$	3,313	*		201,057	$	201,057
Invesco Private Prime Fund, 4.59%^(c)(d)		1.58%		348,025		4,776,833		(4,607,978	)		(33	)		247			9,032	*		516,939		517,094

Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $718,151)		2.19%		497,035		6,626,855		(6,405,953	)		(33	)		247			12,345					718,151

TOTAL INVESTMENTS IN AFFILIATED ISSUERS (Cost $33,783,027)		102.19%	$	26,846,811	$	21,349,301	$	(16,711,070	)	$	1,701,948		$	290,604	^(e)	$	183,543				$	33,469,556

OTHER ASSETS LESS LIABILITIES		(2.19)%																				(717,421	)

NET ASSETS		100.00%																			$	32,752,135

Investment Abbreviations:

ETF-Exchange-Traded Fund

Notes to Schedule of Investments:

^(a)	Each underlying fund and the Fund are affiliated by either having the same investment adviser or an investment adviser under common control with the Fund’s investment adviser.

^(b)	All or a portion of this security was out on loan at January 31, 2023.

^(c)	The rate shown is the 7-day SEC standardized yield as of January 31, 2023.

^(d)	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.

^(e)	Includes capital gains distributions from affiliated underlying funds as follows:


Fund Name		Capital Gain
Invesco PureBeta^SM0-5 Yr US TIPS ETF		$8,038

*	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.

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 High Yield Bond Factor ETF (IHYF)

January 31, 2023

(Unaudited)


	Principal Amount			Value
U.S. Dollar Denominated Bonds & Notes-97.05%
Advertising-0.30%
Advantage Sales & Marketing, Inc., 6.50%, 11/15/2028^(b)		$	126,000		$	95,933

Aerospace & Defense-2.02%
Howmet Aerospace, Inc.
5.13%, 10/01/2024			51,000			50,805
6.88%, 05/01/2025^(c)			115,000			118,590
Rolls-Royce PLC (United Kingdom), 5.75%, 10/15/2027^(b)(c)			200,000			194,762
TransDigm, Inc., 6.25%, 03/15/2026^(b)			274,000			274,213


						638,370

Airlines-2.03%
American Airlines Pass-Through Trust
Series 16-1, Class A, 4.10%, 01/15/2028			25,552			22,045
Series 2014-1, Class A, 3.70%, 04/01/2028			11,515			10,224
American Airlines, Inc., 11.75%, 07/15/2025^(b)			127,000			141,498
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 04/20/2026^(b)			140,000			137,404
Delta Air Lines, Inc., 7.38%, 01/15/2026^(c)			138,000			143,817
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., 5.75%, 01/20/2026^(b)			102,000			97,537
United Airlines, Inc., 4.38%, 04/15/2026^(b)			94,000			89,349


						641,874

Alternative Carriers-1.01%
Lumen Technologies, Inc.
4.00%, 02/15/2027^(b)			91,000			76,867
4.50%, 01/15/2029^(b)			51,000			34,362
Series U, 7.65%, 03/15/2042			75,000			49,951
Qwest Corp., 7.25%, 09/15/2025			77,000			77,206
Zayo Group Holdings, Inc., 4.00%, 03/01/2027^(b)			100,000			79,654


						318,040

Aluminum-0.49%
Kaiser Aluminum Corp., 4.50%, 06/01/2031^(b)			185,000			156,677

Apparel Retail-0.57%
Foot Locker, Inc., 4.00%, 10/01/2029^(b)			67,000			56,728
Gap, Inc. (The), 3.63%, 10/01/2029^(b)			161,000			123,791


						180,519

Apparel, Accessories & Luxury Goods-0.85%
G-III Apparel Group Ltd., 7.88%, 08/15/2025^(b)			88,000			83,711
Hanesbrands, Inc., 4.88%, 05/15/2026^(b)			81,000			75,517
Under Armour, Inc., 3.25%, 06/15/2026			122,000			110,953


						270,181

Application Software-0.92%
Cloud Software Group Holdings, Inc., 6.50%, 03/31/2029^(b)			50,000			43,946
Open Text Corp. (Canada), 3.88%, 12/01/2029^(b)			191,000			159,090
Open Text Holdings, Inc., 4.13%, 02/15/2030^(b)			103,000			86,868


						289,904

Auto Parts & Equipment-1.26%
Clarios Global L.P./Clarios US Finance Co., 8.50%, 05/15/2027^(b)			37,000			36,904


	Principal Amount			Value
Auto Parts & Equipment-(continued)
IHO Verwaltungs GmbH (Germany), 7.13% PIK Rate, 6.38% Cash Rate, 05/15/2029^(b)(d)		$	200,000		$	175,252
ZF North America Capital, Inc. (Germany), 4.75%, 04/29/2025^(b)			192,000			185,409


						397,565

Automobile Manufacturers-2.74%
Ford Motor Credit Co. LLC
5.13%, 06/16/2025			200,000			196,779
4.13%, 08/04/2025			200,000			191,247
3.38%, 11/13/2025			200,000			186,566
Jaguar Land Rover Automotive PLC (United Kingdom), 7.75%, 10/15/2025^(b)			200,000			197,285
PM General Purchaser LLC, 9.50%, 10/01/2028^(b)			123,000			94,281


						866,158

Automotive Retail-0.36%
Penske Automotive Group, Inc., 3.50%, 09/01/2025^(c)			120,000			113,781

Broadcasting-2.34%
AMC Networks, Inc.
5.00%, 04/01/2024			55,000			52,863
4.75%, 08/01/2025^(c)			72,000			61,670
iHeartCommunications, Inc.
6.38%, 05/01/2026^(c)			72,000			68,877
8.38%, 05/01/2027^(c)			45,000			40,399
Liberty Interactive LLC, 8.25%, 02/01/2030			79,000			37,718
Paramount Global, 6.38%, 03/30/2062^(c)(e)			118,000			103,101
Scripps Escrow II, Inc., 5.38%, 01/15/2031^(b)			160,000			129,320
TEGNA, Inc., 4.75%, 03/15/2026^(b)			50,000			48,539
Univision Communications, Inc., 5.13%, 02/15/2025^(b)(c)			73,000			71,207
Urban One, Inc., 7.38%, 02/01/2028^(b)			67,000			61,026
Videotron Ltd. (Canada), 5.13%, 04/15/2027^(b)			69,000			66,323


						741,043

Building Products-2.13%
Builders FirstSource, Inc., 4.25%, 02/01/2032^(b)			194,000			167,194
Cornerstone Building Brands, Inc., 6.13%, 01/15/2029^(b)			89,000			66,780
Masonite International Corp.
5.38%, 02/01/2028^(b)			100,000			93,713
3.50%, 02/15/2030^(b)			90,000			74,390
Standard Industries, Inc.
5.00%, 02/15/2027^(b)			41,000			38,907
4.75%, 01/15/2028^(b)			80,000			75,069
4.38%, 07/15/2030^(b)			108,000			92,445
3.38%, 01/15/2031^(b)			81,000			64,434


						672,932

Cable & Satellite-5.45%
Altice Financing S.A. (Luxembourg), 5.75%, 08/15/2029, (Acquired 07/05/2022; Cost $162,841)^(b)(f)			200,000			168,252
CCO Holdings LLC/CCO Holdings Capital Corp.
5.50%, 05/01/2026^(b)			88,000			86,572
5.13%, 05/01/2027^(b)			96,000			91,604

See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)–(continued)

January 31, 2023

(Unaudited)


	Principal Amount			Value
Cable & Satellite-(continued)
CSC Holdings LLC
5.25%, 06/01/2024^(c)		$	69,000		$	67,620
6.50%, 02/01/2029^(b)			400,000			346,536
4.63%, 12/01/2030^(b)			200,000			118,494
DIRECTV Financing LLC/DIRECTV Financing Co-Obligor, Inc., 5.88%, 08/15/2027^(b)			240,000			217,747
DISH DBS Corp.
7.75%, 07/01/2026			184,000			149,679
5.25%, 12/01/2026^(b)			79,000			68,236
7.38%, 07/01/2028			176,000			126,681
5.13%, 06/01/2029			119,000			75,863
Radiate Holdco LLC/Radiate Finance, Inc., 6.50%, 09/15/2028^(b)			40,000			20,893
Telenet Finance Luxembourg Notes S.a.r.l. (Belgium), 5.50%, 03/01/2028^(b)			200,000			186,900


						1,725,077

Casinos & Gaming-3.48%
Affinity Gaming, 6.88%, 12/15/2027^(b)			187,000			167,682
Caesars Entertainment, Inc.
8.13%, 07/01/2027^(b)			101,000			102,625
4.63%, 10/15/2029^(b)			45,000			38,538
Caesars Resort Collection LLC/CRC Finco, Inc., 5.75%, 07/01/2025^(b)(c)			118,000			118,158
Las Vegas Sands Corp., 2.90%, 06/25/2025^(c)			200,000			187,352
Melco Resorts Finance Ltd. (Hong Kong), 5.38%, 12/04/2029^(b)			200,000			172,100
MGM Resorts International, 6.75%, 05/01/2025			36,000			36,306
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp., 5.88%, 09/01/2031^(b)			234,000			163,550
Sabre GLBL, Inc., 7.38%, 09/01/2025^(b)			117,000			114,918


						1,101,229

Coal & Consumable Fuels-0.41%
Enviva Partners L.P./Enviva Partners Finance Corp., 6.50%, 01/15/2026^(b)			140,000			130,837

Commodity Chemicals-0.72%
Koppers, Inc., 6.00%, 02/15/2025^(b)			112,000			110,432
Methanex Corp. (Canada), 5.25%, 12/15/2029			127,000			116,934


						227,366

Communications Equipment-0.36%
CommScope Technologies LLC, 6.00%, 06/15/2025^(b)(c)			40,000			37,927
Hughes Satellite Systems Corp., 6.63%, 08/01/2026^(c)			79,000			76,509


						114,436

Construction & Engineering-0.15%
AECOM, 5.13%, 03/15/2027			48,000			47,213

Construction Machinery & Heavy Trucks-0.43%
Manitowoc Co., Inc. (The), 9.00%, 04/01/2026^(b)(c)			40,000			39,406
Trinity Industries, Inc., 4.55%, 10/01/2024			100,000			96,675


						136,081


	Principal Amount			Value
Construction Materials-0.45%
Camelot Return Merger Sub, Inc., 8.75%, 08/01/2028^(b)(c)		$	70,000		$	65,905
Eco Material Technologies, Inc., 7.88%, 01/31/2027^(b)			78,000			75,146


						141,051

Consumer Finance-3.14%
Ally Financial, Inc., 5.75%, 11/20/2025^(c)			92,000			91,492
ASG Finance Designated Activity Co. (Cyprus), 7.88%, 12/03/2024^(b)			200,000			197,000
Credit Acceptance Corp., 5.13%, 12/31/2024^(b)			80,000			74,944
Navient Corp.
6.13%, 03/25/2024			127,000			126,838
5.00%, 03/15/2027^(c)			116,000			106,017
5.63%, 08/01/2033			62,000			48,150
OneMain Finance Corp.
6.88%, 03/15/2025^(c)			72,000			71,871
7.13%, 03/15/2026			140,000			139,286
PRA Group, Inc., 7.38%, 09/01/2025^(b)			140,000			139,013


						994,611

Data Processing & Outsourced Services-0.12%
Block, Inc., 2.75%, 06/01/2026			43,000			39,134

Department Stores-1.09%
Macy’s Retail Holdings LLC
5.88%, 04/01/2029^(b)			121,000			112,674
6.13%, 03/15/2032^(b)			93,000			83,379
Nordstrom, Inc.
4.38%, 04/01/2030^(c)			94,000			75,544
4.25%, 08/01/2031^(c)			96,000			72,224


						343,821

Diversified Banks-1.14%
Commerzbank AG (Germany), 8.13%, 09/19/2023^(b)			200,000			201,863
Intesa Sanpaolo S.p.A. (Italy), 4.20%, 06/01/2032^(b)(e)			200,000			159,322


						361,185

Diversified Chemicals-0.18%
Trinseo Materials Operating S.C.A./Trinseo Materials Finance, Inc., 5.13%, 04/01/2029^(b)(c)			78,000			56,308

Diversified Metals & Mining-0.76%
Mineral Resources Ltd. (Australia)
8.13%, 05/01/2027^(b)			86,000			86,759
8.50%, 05/01/2030^(b)			148,000			153,100


						239,859

Diversified Real Estate Activities-0.14%
Five Point Operating Co. L.P./Five Point Capital Corp., 7.88%, 11/15/2025^(b)			51,000			45,910

Diversified REITs-0.58%
HAT Holdings I LLC/HAT Holdings II LLC, 3.38%, 06/15/2026^(b)			82,000			72,879
Uniti Group L.P./Uniti Fiber Holdings, Inc./CSL Capital LLC, 7.88%, 02/15/2025^(b)			113,000			111,663


						184,542

See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)–(continued)

January 31, 2023

(Unaudited)


	Principal Amount			Value
Diversified Support Services-0.80%
MPH Acquisition Holdings LLC
5.50%, 09/01/2028^(b)		$	81,000		$	67,351
5.75%, 11/01/2028^(b)(c)			87,000			63,311
Neptune Bidco US, Inc., 9.29%, 04/15/2029^(b)			127,000			123,636


						254,298

Drug Retail-0.28%
Rite Aid Corp., 8.00%, 11/15/2026^(b)			160,000			89,426

Education Services-0.36%
Grand Canyon University, 4.13%, 10/01/2024			118,000			112,461

Electric Utilities-1.66%
Drax Finco PLC (United Kingdom), 6.63%, 11/01/2025^(b)			200,000			195,264
Midland Cogeneration Venture L.P., 6.00%, 03/15/2025^(b)			70,650			72,240
NRG Energy, Inc.
5.25%, 06/15/2029^(b)			83,000			75,010
3.63%, 02/15/2031^(b)			87,000			69,039
3.88%, 02/15/2032^(b)			144,000			112,301


						523,854

Electrical Components & Equipment-0.71%
Sensata Technologies B.V., 5.00%, 10/01/2025^(b)			109,000			107,935
WESCO Distribution, Inc., 7.13%, 06/15/2025^(b)			114,000			115,968


						223,903

Electronic Components-0.42%
Likewize Corp., 9.75%, 10/15/2025^(b)			141,000			132,744

Environmental & Facilities Services-0.46%
GFL Environmental, Inc. (Canada), 4.25%, 06/01/2025^(b)			123,000			118,749
Stericycle, Inc., 5.38%, 07/15/2024^(b)			28,000			27,760


						146,509

Financial Exchanges & Data-0.39%
Coinbase Global, Inc., 3.38%, 10/01/2028^(b)			189,000			122,198

Food Distributors-0.71%
C&S Group Enterprises LLC, 5.00%, 12/15/2028^(b)			224,000			173,038
US Foods, Inc., 6.25%, 04/15/2025^(b)			50,000			50,153


						223,191

Food Retail-0.19%
Albertson’s Cos., Inc./Safeway, Inc./New Albertson’s L.P./Albertson’s LLC, 4.63%, 01/15/2027^(b)			64,000			60,769

Footwear-0.47%
Abercrombie & Fitch Management Co., 8.75%, 07/15/2025^(b)(c)			147,000			148,645

Gas Utilities-0.94%
AmeriGas Partners L.P./AmeriGas Finance Corp.
5.63%, 05/20/2024			122,000			120,323
5.88%, 08/20/2026			60,000			58,118
Crescent Energy Finance LLC, 7.25%, 05/01/2026^(b)			60,000			57,682
Ferrellgas L.P./Ferrellgas Finance Corp., 5.88%, 04/01/2029^(b)			75,000			62,532


						298,655


	Principal Amount			Value
Health Care Equipment-0.30%
Varex Imaging Corp., 7.88%, 10/15/2027^(b)		$	96,000		$	95,612

Health Care Facilities-0.99%
Legacy LifePoint Health LLC, 6.75%, 04/15/2025^(b)			95,000			92,758
RegionalCare Hospital Partners Holdings, Inc./LifePoint Health, Inc., 9.75%, 12/01/2026^(b)			26,000			22,839
Tenet Healthcare Corp., 4.88%, 01/01/2026			204,000			198,925


						314,522

Health Care REITs-0.55%
Diversified Healthcare Trust, 9.75%, 06/15/2025			73,000			71,327
MPT Operating Partnership L.P./MPT Finance Corp., 4.63%, 08/01/2029			131,000			102,016


						173,343

Health Care Services-2.19%
Community Health Systems, Inc.
8.00%, 03/15/2026^(b)			126,000			121,801
6.00%, 01/15/2029^(b)			160,000			140,650
6.88%, 04/15/2029^(b)			102,000			64,673
6.13%, 04/01/2030^(b)			84,000			50,612
5.25%, 05/15/2030^(b)			83,000			67,080
Global Medical Response, Inc., 6.50%, 10/01/2025^(b)			10,000			7,047
Prime Healthcare Services, Inc., 7.25%, 11/01/2025^(b)			75,000			66,165
US Acute Care Solutions LLC, 6.38%, 03/01/2026^(b)			192,000			173,962


						691,990

Health Care Technology-0.35%
AthenaHealth Group, Inc., 6.50%, 02/15/2030^(b)			135,000			112,020

Home Furnishings-0.49%
Tempur Sealy International, Inc., 3.88%, 10/15/2031^(b)			187,000			154,306

Home Improvement Retail-0.72%
JELD-WEN, Inc.
4.63%, 12/15/2025^(b)			81,000			71,797
4.88%, 12/15/2027^(b)(c)			60,000			49,104
Specialty Building Products Holdings LLC/SBP Finance Corp., 6.38%, 09/30/2026^(b)			117,000			105,421


						226,322

Homebuilding-1.55%
LGI Homes, Inc., 4.00%, 07/15/2029^(b)			202,000			163,908
New Home Co., Inc. (The), 7.25%, 10/15/2025^(b)			80,000			69,639
Shea Homes L.P./Shea Homes Funding Corp., 4.75%, 02/15/2028			78,000			69,601
Taylor Morrison Communities, Inc., 5.75%, 01/15/2028^(b)			80,000			77,690
Tri Pointe Homes, Inc., 5.25%, 06/01/2027			118,000			111,144


						491,982

Homefurnishing Retail-0.02%
Bed Bath & Beyond, Inc., 3.75%, 08/01/2024			97,000			5,627

See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)–(continued)

January 31, 2023

(Unaudited)


	Principal Amount			Value
Hotel & Resort REITs-0.57%
Service Properties Trust
4.50%, 03/15/2025		$	19,000		$	17,219
4.75%, 10/01/2026			150,000			124,060
4.95%, 02/15/2027			49,000			40,153


						181,432

Hotels, Resorts & Cruise Lines-2.74%
Carnival Corp.
5.75%, 03/01/2027^(b)			282,000			234,458
6.00%, 05/01/2029^(b)			200,000			158,251
Royal Caribbean Cruises Ltd.
11.63%, 08/15/2027^(b)			99,000			105,187
5.50%, 04/01/2028^(b)			138,000			118,862
Six Flags Theme Parks, Inc., 7.00%, 07/01/2025^(b)			66,000			66,799
Travel + Leisure Co., Series J, 6.00%, 04/01/2027			188,000			184,685


						868,242

Housewares & Specialties-0.55%
Newell Brands, Inc., 4.45%, 04/01/2026			183,000			174,064

Independent Power Producers & Energy Traders-0.61%
EnfraGen Energia Sur S.A./EnfraGen Spain S.A./Prime Energia S.p.A. (Colombia), 5.38%, 12/30/2030^(b)			270,000			193,151

Industrial Machinery-0.35%
CD&R Smokey Buyer, Inc., 6.75%, 07/15/2025^(b)			57,000			52,012
JPW Industries Holding Corp., 9.00%, 10/01/2024^(b)			65,000			58,090


						110,102

Integrated Oil & Gas-0.84%
Occidental Petroleum Corp.
5.88%, 09/01/2025^(c)			134,000			135,794
5.55%, 03/15/2026.			129,000			130,449


						266,243

Integrated Telecommunication Services-2.20%
Connect Finco S.a.r.l./Connect US Finco LLC (United Kingdom), 6.75%, 10/01/2026^(b)			200,000			191,496
Consolidated Communications, Inc., 6.50%, 10/01/2028^(b)			53,000			43,308
Frontier North, Inc., Series G, 6.73%, 02/15/2028			154,000			142,341
Ligado Networks LLC, 15.50% PIK Rate, 0.00% Cash Rate, 11/01/2023^(b)(d)			36,508			12,687
Telecom Italia S.p.A. (Italy), 5.30%, 05/30/2024^(b)			200,000			194,271
Windstream Escrow LLC/Windstream Escrow Finance Corp., 7.75%, 08/15/2028^(b)(c)			140,000			113,534


						697,637

Interactive Media & Services-0.34%
Cumulus Media New Holdings, Inc., 6.75%, 07/01/2026^(b)(c)			37,000			30,934
Diamond Sports Group LLC/Diamond Sports Finance Co., 5.38%, 08/15/2026^(b)			101,000			1,515
Millennium Escrow Corp., 6.63%, 08/01/2026^(b)			72,000			50,189
TripAdvisor, Inc., 7.00%, 07/15/2025^(b)			24,000			24,125


						106,763


	Principal Amount			Value
Internet & Direct Marketing Retail-0.55%
Photo Holdings Merger Sub, Inc., 8.50%, 10/01/2026^(b)		$	79,000		$	39,626
QVC, Inc.
4.75%, 02/15/2027			125,000			94,913
5.45%, 08/15/2034			68,000			40,038


						174,577

Internet Services & Infrastructure-0.13%
Cogent Communications Group, Inc., 3.50%, 05/01/2026^(b)			43,000			39,864

Investment Banking & Brokerage-0.56%
FS Energy and Power Fund, 7.50%, 08/15/2023^(b)			47,000			46,890
NFP Corp., 6.88%, 08/15/2028^(b)			119,000			103,043
StoneX Group, Inc., 8.63%, 06/15/2025^(b)			26,000			26,165


						176,098

IT Consulting & Other Services-0.12%
Unisys Corp., 6.88%, 11/01/2027^(b)			49,000			37,187

Leisure Facilities-0.80%
Carnival Holdings Bermuda Ltd., 10.38%, 05/01/2028^(b)(c)			125,000			135,184
Cedar Fair L.P./Canada’s Wonderland Co./Magnum Management Corp., 5.50%, 05/01/2025^(b)			48,000			47,703
Vail Resorts, Inc., 6.25%, 05/15/2025^(b)			70,000			70,416


						253,303

Leisure Products-0.11%
Vista Outdoor, Inc., 4.50%, 03/15/2029^(b)			42,000			34,073

Marine-0.92%
NCL Corp. Ltd., 5.88%, 03/15/2026^(b)(c)			161,000			139,465
Seaspan Corp. (Hong Kong), 5.50%, 08/01/2029^(b)			81,000			61,659
Teekay Offshore Partners L.P./Teekay Offshore Finance Corp., 8.50%, 07/15/2023			107,000			89,624


						290,748

Metal & Glass Containers-1.17%
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 5.25%, 04/30/2025^(b)			200,000			195,789
Ball Corp., 4.88%, 03/15/2026			73,000			71,996
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC (Canada), 6.00%, 09/15/2028^(b)			49,000			43,406
Mauser Packaging Solutions Holding Co.
8.50%, 04/15/2024^(b)			30,000			30,714
7.25%, 04/15/2025^(b)			28,000			27,371


						369,276

Mortgage REITs-0.45%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/2025^(b)			82,000			79,016
Starwood Property Trust, Inc., 5.50%, 11/01/2023^(b)			63,000			62,669


						141,685

Movies & Entertainment-1.89%
Banijay Entertainment S.A.S.U. (France), 5.38%, 03/01/2025^(b)			200,000			193,248
Cinemark USA, Inc., 8.75%, 05/01/2025^(b)			145,000			147,837

See accompanying notes which are an integral part of this schedule.

Invesco High Yield Bond Factor ETF (IHYF)–(continued)

January 31, 2023

(Unaudited)


	Principal Amount			Value
Movies & Entertainment-(continued)
Lions Gate Capital Holdings LLC, 5.50%, 04/15/2029^(b)		$	60,000		$	39,085
Netflix, Inc.
5.88%, 02/15/2025			72,000			73,130
5.38%, 11/15/2029^(b)(c)			68,000			69,058
4.88%, 06/15/2030^(b)(c)			75,000			74,154


						596,512

Multi-Utilities-0.30%
Algonquin Power & Utilities Corp. (Canada), 4.75%, 01/18/2082^(e)			114,000			96,470

Office REITs-0.36%
Office Properties Income Trust, 4.50%, 02/01/2025^(c)			124,000			115,418

Office Services & Supplies-0.86%
ACCO Brands Corp., 4.25%, 03/15/2029^(b)			171,000			148,119
Pitney Bowes, Inc.
6.88%, 03/15/2027^(b)			78,000			65,515
7.25%, 03/15/2029^(b)			75,000			59,165


						272,799

Oil & Gas Drilling-1.08%
Harvest Midstream I L.P., 7.50%, 09/01/2028^(b)			84,000			82,749
Rockies Express Pipeline LLC
3.60%, 05/15/2025^(b)			118,000			111,771
7.50%, 07/15/2038^(b)			62,000			57,439
6.88%, 04/15/2040^(b)			104,000			88,280


						340,239

Oil & Gas Equipment & Services-0.56%
Oceaneering International, Inc., 4.65%, 11/15/2024			92,000			89,345
USA Compression Partners L.P./USA Compression Finance Corp., 6.88%, 04/01/2026			90,000			88,451


						177,796

Oil & Gas Exploration & Production-3.70%
Comstock Resources, Inc., 5.88%, 01/15/2030^(b)			141,000			121,078
CrownRock L.P./CrownRock Finance, Inc., 5.63%, 10/15/2025^(b)			119,000			116,170
Hilcorp Energy I L.P./Hilcorp Finance Co.
6.25%, 11/01/2028^(b)			185,000			177,917
6.00%, 04/15/2030^(b)			75,000			69,812
6.00%, 02/01/2031^(b)			58,000			53,850
Moss Creek Resources Holdings, Inc.
7.50%, 01/15/2026^(b)			57,000			52,735
10.50%, 05/15/2027^(b)			46,000			44,481
Murphy Oil Corp., 6.13%, 12/01/2042			90,000			74,025
PDC Energy, Inc., 6.13%, 09/15/2024			77,000			76,645
Southwestern Energy Co., 5.70%, 01/23/2025			88,000			87,353
Strathcona Resources Ltd. (Canada), 6.88%, 08/01/2026^(b)			39,000			33,301
Vital Energy, Inc., 10.13%, 01/15/2028^(c)			100,000			99,628