Schedule of Investments
July 31, 2023
(Unaudited)
Principal Amount | Value | ||
Non-U.S. Dollar Denominated Bonds & Notes–54.19%(a) | |||
Australia–1.19% | |||
Australia Government Bond, Series 162, 1.75%, 06/21/2051(b) | AUD | 18,000 | $6,982 |
Australian Government Bond, Series 149, 2.25%, 05/21/2028(b) | AUD | 27,000 | 16,886 |
BHP Billiton Finance Ltd., Series 13, 3.13%, 04/29/2033(b) | EUR | 100,000 | 102,824 |
Macquarie Group Ltd., 0.95%, 05/21/2031(b) | EUR | 100,000 | 86,117 |
Scentre Group Trust 1/Scentre Group Trust 2, 1.75%, 04/11/2028(b) | EUR | 100,000 | 96,241 |
309,050 | |||
Canada–1.81% | |||
Canadian Government Bond, | |||
3.75%, 05/01/2025 | CAD | 192,000 | 143,068 |
5.75%, 06/01/2033 | CAD | 236,000 | 211,648 |
2.00%, 12/01/2051 | CAD | 199,000 | 114,509 |
469,225 | |||
France–6.44% | |||
BNP Paribas S.A., | |||
2.75%, 07/25/2028(b)(c) | EUR | 100,000 | 103,639 |
1.13%, 01/15/2032(b)(c) | EUR | 100,000 | 95,237 |
Caisse Nationale de Reassurance Mutuelle Agricole Groupama, 6.38%,(b)(c)(d) | EUR | 100,000 | 110,180 |
Credit Agricole S.A., 1.00%, 07/03/2029(b) | EUR | 100,000 | 94,281 |
Eutelsat S.A., 2.25%, 07/13/2027(b) | EUR | 100,000 | 93,554 |
French Republic Government Bond OAT, 0.00%, 11/25/2030(b) | EUR | 1,000,000 | 894,352 |
Holding d’Infrastructures de Transport S.A.S.U., 1.63%, 09/18/2029(b) | EUR | 100,000 | 94,354 |
Imerys S.A., 1.00%, 07/15/2031(b) | EUR | 100,000 | 83,478 |
Mercialys S.A., 4.63%, 07/07/2027(b) | EUR | 100,000 | 105,041 |
1,674,116 | |||
Germany–10.58% | |||
Bayer AG, 3.13%, 11/12/2079(b)(c) | EUR | 100,000 | 96,911 |
BMW Finance N.V., 0.75%, 07/12/2024(b) | EUR | 50,000 | 53,471 |
Bundesobligation, Series 187, 2.20%, 04/13/2028(b) | EUR | 643,000 | 696,213 |
Bundesrepublik Deutschland Bundesanleihe, | |||
0.25%, 08/15/2028(b) | EUR | 52,000 | 51,179 |
2.30%, 02/15/2033(b) | EUR | 611,429 | 663,603 |
0.00%, 08/15/2050(b) | EUR | 192,158 | 108,665 |
Principal Amount | Value | ||
Germany–(continued) | |||
Bundesschatzanweisungen, 2.20%, 12/12/2024(b) | EUR | 438,000 | $474,748 |
Commerzbank AG, 0.63%, 08/28/2024(b) | EUR | 70,000 | 74,358 |
Heraeus Finance GmbH, 2.63%, 06/09/2027(b) | EUR | 100,000 | 104,210 |
HOCHTIEF AG, 0.63%, 04/26/2029(b) | EUR | 50,000 | 44,830 |
Merck Financial Services GmbH, 0.13%, 07/16/2025(b) | EUR | 100,000 | 102,633 |
Volkswagen International Finance N.V., 1.88%, 03/30/2027(b) | EUR | 100,000 | 102,016 |
Volkswagen Leasing GmbH, 0.63%, 07/19/2029(b) | EUR | 100,000 | 88,654 |
Wintershall Dea Finance B.V., 1.82%, 09/25/2031(b) | EUR | 100,000 | 87,346 |
2,748,837 | |||
Indonesia–0.66% | |||
Indonesia Treasury Bond, Series FR81, 6.50%, 06/15/2025 | IDR | 2,546,000,000 | 170,336 |
Italy–0.37% | |||
Enel Finance International N.V., 0.00%, 06/17/2027(b) | EUR | 100,000 | 95,430 |
Japan–8.13% | |||
Japan Government Bond, | |||
Series 146, 0.10%, 12/20/2025 | JPY | 68,900,000 | 485,634 |
Series 155, 0.30%, 12/20/2027 | JPY | 76,500,000 | 542,187 |
Series 361, 0.10%, 12/20/2030 | JPY | 74,950,000 | 515,001 |
Series 69, 0.70%, 12/20/2050 | JPY | 79,950,000 | 469,119 |
Nidec Corp., 0.05%, 03/30/2026(b) | EUR | 100,000 | 99,784 |
2,111,725 | |||
Luxembourg–0.34% | |||
AXA Logistics Europe Master S.C.A., 0.88%, 11/15/2029(b) | EUR | 100,000 | 88,063 |
Malaysia–0.18% | |||
Malaysia Government Bond, Series 120, 4.07%, 06/15/2050 | MYR | 222,000 | 47,754 |
Mexico–1.28% | |||
Mexican Bonos, Series M 20, 10.00%, 12/05/2024 | MXN | 5,600,000 | 332,903 |
New Zealand–4.28% | |||
Fonterra Co-operative Group Ltd., 0.75%, 11/08/2024(b) | EUR | 150,000 | 157,563 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Principal Amount | Value | ||
New Zealand–(continued) | |||
New Zealand Government Bond, | |||
Series 433, 3.50%, 04/14/2033(b) | NZD | 388,000 | $218,919 |
Series 526, 0.50%, 05/15/2026 | NZD | 1,337,000 | 734,903 |
1,111,385 | |||
Norway–3.93% | |||
Norway Government Bond, | |||
Series 477, 1.75%, 03/13/2025(b) | NOK | 1,348,000 | 127,943 |
Series 479, 1.75%, 02/17/2027(b) | NOK | 5,200,000 | 474,265 |
Series 486, 3.00%, 08/15/2033(b) | NOK | 4,534,000 | 417,766 |
1,019,974 | |||
Poland–1.10% | |||
Energa Finance AB, 2.13%, 03/07/2027(b) | EUR | 100,000 | 100,945 |
Republic of Poland Government Bond, Series 725, 3.25%, 07/25/2025 | PLN | 775,000 | 186,082 |
287,027 | |||
South Korea–1.07% | |||
Korea Treasury Bond, | |||
Series 2512, 2.25%, 12/10/2025 | KRW | 176,130,000 | 133,639 |
Series 3012, 1.50%, 12/10/2030 | KRW | 112,340,000 | 75,741 |
Series 5003, 1.50%, 03/10/2050 | KRW | 140,830,000 | 69,840 |
279,220 | |||
Spain–0.41% | |||
Banco Bilbao Vizcaya Argentaria S.A., 0.38%, 10/02/2024(b) | EUR | 100,000 | 105,419 |
Sweden–3.09% | |||
EQT AB, 2.38%, 04/06/2028(b) | EUR | 100,000 | 98,387 |
Swedbank AB, 0.75%, 05/05/2025(b) | EUR | 100,000 | 103,586 |
Sweden Government Bond, | |||
Series 1056, 2.25%, 06/01/2032(b) | SEK | 1,995,000 | 185,194 |
Series 1060, 0.75%, 05/12/2028(b) | SEK | 4,140,000 | 359,843 |
Telia Co. AB, 3.88%, 10/01/2025(b) | EUR | 50,000 | 55,023 |
802,033 | |||
Switzerland–4.13% | |||
Cloverie PLC for Zurich Insurance Co. Ltd., 1.50%, 12/15/2028(b) | EUR | 100,000 | 99,877 |
Swiss Confederation Government Bond, | |||
4.00%, 04/08/2028(b) | CHF | 284,000 | 370,399 |
0.50%, 06/27/2032(b) | CHF | 196,000 | 216,147 |
3.50%, 04/08/2033(b) | CHF | 120,000 | 169,713 |
4.00%, 01/06/2049(b) | CHF | 10,000 | 19,429 |
UBS Group AG, 0.25%, 11/03/2026(b)(c) | EUR | 200,000 | 198,288 |
1,073,853 |
Principal Amount | Value | |||
Thailand–0.17% | ||||
Thailand Government Bond, 1.88%, 06/17/2049 | THB | 1,949,000 | $43,993 | |
United Kingdom–3.60% | ||||
B.A.T. International Finance PLC, 2.25%, 01/16/2030(b) | EUR | 100,000 | 92,354 | |
BP Capital Markets PLC, 0.90%, 07/03/2024(b) | EUR | 100,000 | 107,002 | |
CK Hutchison Group Telecom Finance S.A., 1.50%, 10/17/2031(b) | EUR | 100,000 | 87,490 | |
Lloyds Banking Group PLC, 0.50%, 11/12/2025(b)(c) | EUR | 100,000 | 104,723 | |
Natwest Group PLC, 1.75%, 03/02/2026(b)(c) | EUR | 100,000 | 105,115 | |
United Kingdom Gilt, | ||||
0.63%, 06/07/2025(b) | GBP | 100,000 | 118,632 | |
0.13%, 01/31/2028(b) | GBP | 85,000 | 90,008 | |
3.25%, 01/31/2033(b) | GBP | 54,000 | 63,702 | |
0.63%, 10/22/2050(b) | GBP | 321,946 | 167,631 | |
936,657 | ||||
United States–1.43% | ||||
Altria Group, Inc., 3.13%, 06/15/2031 | EUR | 100,000 | 94,992 | |
General Motors Financial Co., Inc., 4.30%, 02/15/2029(b) | EUR | 100,000 | 108,710 | |
Goldman Sachs Group, Inc. (The), 0.13%, 08/19/2024(b) | EUR | 60,000 | 63,496 | |
Wells Fargo & Co., 2.00%, 04/27/2026(b) | EUR | 100,000 | 104,095 | |
371,293 | ||||
Total Non-U.S. Dollar Denominated Bonds & Notes (Cost $15,803,769) | 14,078,293 | |||
U.S. Dollar Denominated Bonds & Notes–22.23% | ||||
Australia–0.24% | ||||
Westpac Banking Corp., | ||||
2.35%, 02/19/2025 | $30,000 | 28,677 | ||
3.35%, 03/08/2027 | 35,000 | 33,107 | ||
61,784 | ||||
Brazil–0.08% | ||||
Suzano Austria GmbH, 3.75%, 01/15/2031 | 25,000 | 21,459 | ||
Canada–0.71% | ||||
Brookfield Finance, Inc., 4.85%, 03/29/2029 | 90,000 | 86,812 | ||
Magna International, Inc., | ||||
2.45%, 06/15/2030 | 20,000 | 16,888 | ||
5.50%, 03/21/2033 | 20,000 | 20,469 | ||
TransCanada PipeLines Ltd., 4.88%, 01/15/2026 | 60,000 | 59,332 | ||
183,501 | ||||
France–0.09% | ||||
AXA S.A., 8.60%, 12/15/2030 | 20,000 | 24,008 | ||
Japan–0.26% | ||||
Mitsubishi UFJ Financial Group, Inc., 3.74%, 03/07/2029 | 25,000 | 23,231 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Principal Amount | Value | |||
Japan–(continued) | ||||
Sumitomo Mitsui Financial Group, Inc., | ||||
3.01%, 10/19/2026 | $25,000 | $23,219 | ||
2.14%, 09/23/2030 | 25,000 | 19,992 | ||
66,442 | ||||
Luxembourg–0.14% | ||||
ArcelorMittal S.A., 6.75%, 03/01/2041 | 35,000 | 35,354 | ||
Mexico–0.41% | ||||
America Movil S.A.B. de C.V., 6.13%, 03/30/2040 | 100,000 | 105,704 | ||
Netherlands–0.58% | ||||
Cooperatieve Rabobank U.A., 5.25%, 05/24/2041 | 35,000 | 36,187 | ||
Koninklijke KPN N.V., 8.38%, 10/01/2030 | 30,000 | 34,574 | ||
Shell International Finance B.V., | ||||
2.38%, 11/07/2029 | 35,000 | 30,713 | ||
6.38%, 12/15/2038 | 45,000 | 50,617 | ||
152,091 | ||||
Switzerland–0.15% | ||||
Credit Suisse USA, Inc., 7.13%, 07/15/2032 | 35,000 | 38,781 | ||
United Kingdom–2.80% | ||||
B.A.T Capital Corp., | ||||
3.56%, 08/15/2027 | 35,000 | 32,529 | ||
2.26%, 03/25/2028 | 30,000 | 25,954 | ||
4.74%, 03/16/2032 | 25,000 | 22,702 | ||
5.28%, 04/02/2050 | 75,000 | 61,606 | ||
Barclays PLC, 4.84%, 05/09/2028 | 200,000 | 186,530 | ||
BP Capital Markets PLC, 3.72%, 11/28/2028 | 35,000 | 33,154 | ||
British Airways Pass-Through Trust, Series 2019-1, Class A, 3.35%, 06/15/2029(b) | 40,304 | 35,493 | ||
British Telecommunications PLC, 9.63%, 12/15/2030 | 20,000 | 24,599 | ||
HSBC Holdings PLC, 4.58%, 06/19/2029(c) | 200,000 | 188,938 | ||
Mead Johnson Nutrition Co., 4.13%, 11/15/2025 | 95,000 | 92,860 | ||
nVent Finance S.a.r.l., 4.55%, 04/15/2028 | 25,000 | 23,798 | ||
728,163 | ||||
United States–16.77% | ||||
3M Co., | ||||
5.70%, 03/15/2037 | ��� 65,000 | 69,618 | ||
3.63%, 10/15/2047 | 25,000 | 19,129 | ||
Adventist Health System, 2.95%, 03/01/2029 | 40,000 | 34,597 | ||
Aflac, Inc., 1.13%, 03/15/2026 | 50,000 | 44,913 | ||
Allstate Corp. (The), 3.28%, 12/15/2026 | 20,000 | 18,957 | ||
Altria Group, Inc., | ||||
4.80%, 02/14/2029 | 25,000 | 24,405 | ||
3.40%, 05/06/2030 | 40,000 | 35,415 | ||
2.45%, 02/04/2032 | 45,000 | 35,456 |
Principal Amount | Value | ||
United States–(continued) | |||
Amazon.com, Inc., | |||
4.25%, 08/22/2057 | $40,000 | $35,392 | |
3.25%, 05/12/2061 | 45,000 | 32,129 | |
4.10%, 04/13/2062 | 40,000 | 34,138 | |
American Express Co., 2.50%, 07/30/2024 | 45,000 | 43,630 | |
American Honda Finance Corp., 2.15%, 09/10/2024 | 20,000 | 19,302 | |
Appalachian Power Co., 7.00%, 04/01/2038 | 25,000 | 28,135 | |
Apple, Inc., | |||
1.70%, 08/05/2031 | 40,000 | 32,775 | |
4.45%, 05/06/2044 | 35,000 | 33,817 | |
Ares Capital Corp., 3.20%, 11/15/2031 | 35,000 | 27,241 | |
Arizona Public Service Co., 2.60%, 08/15/2029 | 20,000 | 17,393 | |
Assured Guaranty US Holdings, Inc., 3.15%, 06/15/2031 | 30,000 | 25,682 | |
Athene Holding Ltd., 4.13%, 01/12/2028 | 20,000 | 18,552 | |
Baker Hughes Holdings LLC, 5.13%, 09/15/2040 | 20,000 | 19,403 | |
Bank of America Corp., | |||
4.20%, 08/26/2024 | 70,000 | 68,910 | |
4.00%, 01/22/2025 | 30,000 | 29,249 | |
4.45%, 03/03/2026 | 35,000 | 34,086 | |
2.09%, 06/14/2029(c) | 20,000 | 17,174 | |
3.85%, 03/08/2037(c) | 40,000 | 34,504 | |
BGC Partners, Inc., 3.75%, 10/01/2024 | 36,000 | 34,297 | |
BlackRock, Inc., 2.10%, 02/25/2032 | 25,000 | 20,191 | |
Boeing Co. (The), 6.63%, 02/15/2038 | 92,000 | 98,510 | |
Booking Holdings, Inc., 4.63%, 04/13/2030 | 65,000 | 63,773 | |
Boston Properties L.P., 3.40%, 06/21/2029 | 35,000 | 30,150 | |
Bristol-Myers Squibb Co., 3.40%, 07/26/2029 | 25,000 | 23,315 | |
Broadcom, Inc., 4.93%, 05/15/2037(b) | 25,000 | 22,735 | |
California Institute of Technology, 4.70%, 11/01/2111 | 22,000 | 18,749 | |
Capital One Financial Corp., 3.20%, 02/05/2025 | 75,000 | 71,640 | |
CDW LLC/CDW Finance Corp., 3.25%, 02/15/2029 | 30,000 | 26,193 | |
Celanese US Holdings LLC, 6.38%, 07/15/2032 | 25,000 | 25,302 | |
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., 5.05%, 03/30/2029 | 59,000 | 56,468 | |
Cigna Group (The), 4.50%, 02/25/2026 | 55,000 | 54,037 | |
Cintas Corp. No. 2, 3.70%, 04/01/2027 | 25,000 | 24,118 | |
Citigroup, Inc., 8.13%, 07/15/2039 | 20,000 | 25,404 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Principal Amount | Value | ||
United States–(continued) | |||
CNA Financial Corp., 3.45%, 08/15/2027 | $25,000 | $23,336 | |
CommonSpirit Health, | |||
2.76%, 10/01/2024 | 30,000 | 28,952 | |
1.55%, 10/01/2025 | 40,000 | 36,533 | |
ConocoPhillips Co., 6.95%, 04/15/2029 | 20,000 | 22,225 | |
Constellation Energy Generation LLC, 6.25%, 10/01/2039 | 25,000 | 25,773 | |
Corning, Inc., 5.85%, 11/15/2068 | 13,000 | 12,645 | |
Dell International LLC/EMC Corp., | |||
8.10%, 07/15/2036 | 20,000 | 23,299 | |
8.35%, 07/15/2046 | 25,000 | 31,393 | |
Dick’s Sporting Goods, Inc., 4.10%, 01/15/2052 | 25,000 | 17,150 | |
Dignity Health, 5.27%, 11/01/2064 | 25,000 | 23,053 | |
DuPont de Nemours, Inc., 4.49%, 11/15/2025 | 15,000 | 14,730 | |
Emerson Electric Co., 5.25%, 11/15/2039 | 20,000 | 20,214 | |
Energy Transfer L.P., 4.95%, 05/15/2028 | 35,000 | 34,262 | |
Enstar Group Ltd., 3.10%, 09/01/2031 | 25,000 | 19,480 | |
Enterprise Products Operating LLC, 4.15%, 10/16/2028 | 25,000 | 23,974 | |
EOG Resources, Inc., 4.38%, 04/15/2030 | 15,000 | 14,721 | |
ERP Operating L.P., 4.15%, 12/01/2028 | 40,000 | 38,257 | |
Exxon Mobil Corp., 2.44%, 08/16/2029 | 45,000 | 39,900 | |
Fifth Third Bancorp, 2.38%, 01/28/2025 | 50,000 | 47,432 | |
General Motors Co., 6.75%, 04/01/2046 | 63,000 | 64,326 | |
Georgia-Pacific LLC, 8.88%, 05/15/2031 | 15,000 | 18,484 | |
GLP Capital L.P./GLP Financing II, Inc., 5.30%, 01/15/2029 | 20,000 | 19,101 | |
Harley-Davidson, Inc., 4.63%, 07/28/2045 | 26,000 | 20,023 | |
Hasbro, Inc., 6.35%, 03/15/2040 | 50,000 | 51,014 | |
HCA, Inc., 5.13%, 06/15/2039 | 30,000 | 27,750 | |
Home Depot, Inc. (The), 2.70%, 04/15/2030 | 20,000 | 17,682 | |
Host Hotels & Resorts L.P., Series I, 3.50%, 09/15/2030 | 15,000 | 12,756 | |
HP, Inc., 5.50%, 01/15/2033 | 15,000 | 14,809 | |
Intel Corp., | |||
4.95%, 03/25/2060 | 41,000 | 37,750 | |
5.05%, 08/05/2062 | 75,000 | 69,814 | |
International Business Machines Corp., 7.13%, 12/01/2096 | 43,000 | 54,373 | |
IPALCO Enterprises, Inc., 4.25%, 05/01/2030 | 68,000 | 62,044 |
Principal Amount | Value | ||
United States–(continued) | |||
John Deere Capital Corp., 2.80%, 07/18/2029 | $20,000 | $17,977 | |
Johnson & Johnson, 5.95%, 08/15/2037 | 30,000 | 33,643 | |
JPMorgan Chase & Co., | |||
3.88%, 09/10/2024 | 50,000 | 49,073 | |
4.13%, 12/15/2026 | 40,000 | 38,540 | |
2.96%, 05/13/2031(c) | 30,000 | 25,797 | |
Kemper Corp., 3.80%, 02/23/2032 | 25,000 | 20,560 | |
McKesson Corp., 1.30%, 08/15/2026(e) | 25,000 | 22,378 | |
Merck & Co., Inc., 1.90%, 12/10/2028 | 20,000 | 17,500 | |
Microsoft Corp., 3.04%, 03/17/2062 | 50,000 | 35,818 | |
MidAmerican Energy Co., | |||
3.65%, 04/15/2029 | 20,000 | 18,689 | |
6.75%, 12/30/2031 | 20,000 | 22,288 | |
Morgan Stanley, | |||
3.70%, 10/23/2024 | 85,000 | 83,144 | |
4.35%, 09/08/2026 | 35,000 | 33,841 | |
National Rural Utilities Cooperative Finance Corp., Series MTNC, 8.00%, 03/01/2032 | 30,000 | 35,164 | |
Nucor Corp., 2.98%, 12/15/2055 | 25,000 | 15,911 | |
Omega Healthcare Investors, Inc., 3.38%, 02/01/2031 | 30,000 | 24,126 | |
Oracle Corp., 4.10%, 03/25/2061 | 45,000 | 33,024 | |
Pacific Gas and Electric Co., | |||
4.20%, 03/01/2029 | 25,000 | 22,578 | |
4.55%, 07/01/2030 | 25,000 | 22,730 | |
4.40%, 03/01/2032 | 25,000 | 21,848 | |
PacifiCorp, 3.50%, 06/15/2029 | 30,000 | 27,106 | |
Paramount Global, 7.88%, 07/30/2030 | 35,000 | 36,895 | |
Parker-Hannifin Corp., 3.30%, 11/21/2024 | 55,000 | 53,187 | |
PayPal Holdings, Inc., 5.25%, 06/01/2062 | 35,000 | 33,980 | |
Philip Morris International, Inc., | |||
3.13%, 03/02/2028 | 20,000 | 18,466 | |
2.10%, 05/01/2030 | 25,000 | 20,647 | |
6.38%, 05/16/2038 | 30,000 | 32,609 | |
4.50%, 03/20/2042 | 35,000 | 30,079 | |
PPG Industries, Inc., 1.20%, 03/15/2026 | 40,000 | 36,021 | |
Prudential Financial, Inc., 3.70%, 10/01/2050(c) | 50,000 | 42,750 | |
Ralph Lauren Corp., 2.95%, 06/15/2030 | 44,000 | 38,924 | |
Realty Income Corp., 3.95%, 08/15/2027 | 25,000 | 23,820 | |
Ross Stores, Inc., | |||
0.88%, 04/15/2026 | 15,000 | 13,316 | |
1.88%, 04/15/2031 | 40,000 | 31,737 | |
S&P Global, Inc., 2.70%, 03/01/2029 | 25,000 | 22,532 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Principal Amount | Value | ||
United States–(continued) | |||
Simon Property Group L.P., 6.75%, 02/01/2040 | $38,000 | $41,369 | |
Southern California Edison Co., | |||
6.65%, 04/01/2029 | 40,000 | 41,564 | |
Series 2004-G, 5.75%, 04/01/2035 | 30,000 | 30,308 | |
Southern California Gas Co., 3.20%, 06/15/2025 | 25,000 | 24,074 | |
Southwest Airlines Co., 3.00%, 11/15/2026 | 50,000 | 46,511 | |
Southwest Gas Corp., 4.05%, 03/15/2032 | 45,000 | 40,810 | |
Stewart Information Services Corp., 3.60%, 11/15/2031 | 25,000 | 19,090 | |
Target Corp., 2.35%, 02/15/2030 | 20,000 | 17,366 | |
Time Warner Cable LLC, 7.30%, 07/01/2038 | 30,000 | 30,609 | |
Transcontinental Gas Pipe Line Co. LLC, 7.85%, 02/01/2026 | 50,000 | 52,447 | |
Truist Financial Corp., 2.50%, 08/01/2024 | 60,000 | 58,081 | |
U.S. Bancorp, 2.49%, 11/03/2036(c) | 60,000 | 45,192 | |
Union Electric Co., 8.45%, 03/15/2039 | 48,000 | 62,310 | |
Union Pacific Corp., 4.10%, 09/15/2067 | 25,000 | 20,561 | |
United Parcel Service, Inc., 3.40%, 03/15/2029 | 25,000 | 23,609 | |
UnitedHealth Group, Inc., 6.05%, 02/15/2063 | 30,000 | 33,700 | |
Verizon Communications, Inc., | |||
4.13%, 03/16/2027 | 20,000 | 19,363 | |
4.33%, 09/21/2028 | 26,000 | 24,984 | |
Wachovia Corp., 7.57%, 08/01/2026(f) | 82,000 | 85,769 | |
Walt Disney Co. (The), 3.70%, 03/23/2027 | 25,000 | 24,167 | |
Warnermedia Holdings, Inc., 4.05%, 03/15/2029 | 46,000 | 42,231 | |
Wells Fargo & Co., 4.10%, 06/03/2026 | 76,000 | 73,006 | |
Western Union Co. (The), 6.20%, 11/17/2036 | 20,000 | 20,179 | |
Wyeth LLC, 6.00%, 02/15/2036 | 25,000 | 27,163 | |
4,357,300 | |||
Total U.S. Dollar Denominated Bonds & Notes (Cost $6,382,821) | 5,774,587 | ||
U.S. Government Sponsored Agency Mortgage-Backed Securities–10.92% | |||
Federal Home Loan Mortgage Corp., | |||
2.50%, 07/01/2035 - 08/01/2050 | 549,339 | 476,230 | |
4.50%, 09/01/2049 - 01/01/2050 | 28,492 | 27,628 | |
3.00%, 01/01/2050 - 05/01/2050 | 195,992 | 175,141 | |
2.00%, 01/01/2051 - 10/01/2051 | 507,332 | 412,477 |
Principal Amount | Value | |||
Federal National Mortgage Association, | ||||
4.50%, 06/01/2049 | $13,342 | $13,021 | ||
3.00%, 10/01/2049 - 03/01/2050 | 152,829 | 135,039 | ||
2.50%, 01/01/2050 - 08/01/2050 | 397,659 | 341,722 | ||
2.00%, 03/01/2051 - 08/01/2051 | 456,507 | 370,948 | ||
Freddie Mac Multifamily Structured Pass-Through Ctfs., Series K038, Class X1, IO, 1.07%, 03/25/2024(g) | 1,417,993 | 6,126 | ||
Uniform Mortgage Backed Securities, | ||||
TBA, 2.00%, 08/01/2038(h) | 120,000 | 106,055 | ||
3.50%, 08/01/2038 - 08/01/2053(h) | 385,000 | 353,169 | ||
3.00%, 08/01/2053(h) | 70,000 | 61,258 | ||
4.50%, 08/01/2053(h) | 375,000 | 359,048 | ||
Total U.S. Government Sponsored Agency Mortgage-Backed Securities (Cost $3,260,513) | 2,837,862 | |||
U.S. Treasury Securities–10.00% | ||||
U.S. Treasury Bills–0.28% | ||||
4.79%, 04/18/2024(i)(j) | 72,512 | 72,221 | ||
U.S. Treasury Bonds–2.32% | ||||
4.00%, 11/15/2052 | 619,117 | 603,023 | ||
U.S. Treasury Notes–7.40% | ||||
4.38%, 10/31/2024 | 1,342,364 | 1,333,282 | ||
3.50%, 01/31/2028 | 241,484 | 237,009 | ||
3.50%, 02/15/2033 | 362,777 | 352,915 | ||
1,923,206 | ||||
Total U.S. Treasury Securities (Cost $2,638,254) | 2,598,450 | |||
Shares | ||||
Exchange-Traded Funds–1.47% | ||||
United States–1.47% | ||||
Invesco High Yield Bond Factor ETF(k) (Cost $444,555) | 17,500 | 381,150 | ||
Money Market Funds–3.03% | ||||
Invesco Government & Agency Portfolio, Institutional Class, 5.18%(k)(l) | 276,039 | 276,039 | ||
Invesco Liquid Assets Portfolio, Institutional Class, 5.28%(k)(l) | 197,112 | 197,132 | ||
Invesco Treasury Portfolio, Institutional Class, 5.18%(k)(l) | 315,473 | 315,473 | ||
Total Money Market Funds (Cost $788,643) | 788,644 | |||
TOTAL INVESTMENTS IN SECURITIES (excluding Investments purchased with cash collateral from securities on loan)-101.84% (Cost $29,318,555) | 26,458,986 | |||
Investments Purchased with Cash Collateral from Securities on Loan | ||||
Money Market Funds–0.09% | ||||
Invesco Private Government Fund, 5.24%(k)(l)(m) | 6,370 | 6,370 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Shares | Value | ||
Money Market Funds–(continued) | |||
Invesco Private Prime Fund, 5.38%(k)(l)(m) | 16,381 | $16,381 | |
Total Investments Purchased with Cash Collateral from Securities on Loan (Cost $22,751) | 22,751 | ||
TOTAL INVESTMENTS IN SECURITIES—101.93% (Cost $29,341,306) | 26,481,737 | ||
OTHER ASSETS LESS LIABILITIES–(1.93)% | (501,671) | ||
NET ASSETS–100.00% | $25,980,066 |
Investment Abbreviations:
AUD | – Australian Dollar |
CAD | – Canadian Dollar |
CHF | – Swiss Franc |
Ctfs. | – Certificates |
ETF | – Exchange-Traded Fund |
EUR | – Euro |
GBP | – British Pound Sterling |
IDR | – Indonesian Rupiah |
IO | – Interest Only |
JPY | – Japanese Yen |
KRW | – South Korean Won |
MXN | – Mexican Peso |
MYR | – Malaysian Ringgit |
NOK | – Norwegian Krone |
NZD | – New Zealand Dollar |
PLN | – Polish Zloty |
SEK | – Swedish Krona |
TBA | – To Be Announced |
THB | – Thai Baht |
Notes to Schedule of Investments:
(a) | Foreign denominated security. Principal amount is denominated in the currency indicated. |
(b) | 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 July 31, 2023 was $9,765,172, which represented 37.59% of the Fund’s Net Assets. |
(c) | Security issued at a fixed rate for a specific period of time, after which it will convert to a variable rate. |
(d) | Perpetual bond with no specified maturity date. |
(e) | All or a portion of this security was out on loan at July 31, 2023. |
(f) | Step coupon bond. The interest rate represents the coupon rate at which the bond will accrue at a specified future date. |
(g) | Interest only security. Principal amount shown is the notional principal and does not reflect the maturity value of the security. Interest rate is redetermined periodically based on the cash flows generated by the pool of assets backing the security, less any applicable fees. The rate shown is the rate in effect on July 31, 2023. |
(h) | Security purchased on a forward commitment basis. This security is subject to dollar roll transactions. |
(i) | All or a portion of the value was pledged as collateral to cover margin requirements for open futures contracts. |
(j) | Security traded on a discount basis. The interest rate shown represents the discount rate at the time of purchase by the Fund. |
(k) | 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 nine months ended July 31, 2023. |
Value October 31, 2022 | Purchases at Cost | Proceeds from Sales | Change in Unrealized Appreciation | Realized Gain (Loss) | Value July 31, 2023 | Dividend Income | |
Invesco High Yield Bond Factor ETF | $368,287 | $- | $- | $14,615 | $- | $381,150 | $17,776* |
Investments in Affiliated Money Market Funds: | |||||||
Invesco Government & Agency Portfolio, Institutional Class | - | 2,555,042 | (2,279,003) | - | - | 276,039 | 4,977 |
Invesco Liquid Assets Portfolio, Institutional Class | - | 1,825,029 | (1,627,858) | 1 | (40) | 197,132 | 3,288 |
Invesco Treasury Portfolio, Institutional Class | - | 2,920,047 | (2,604,574) | - | - | 315,473 | 5,118 |
Investments Purchased with Cash Collateral from Securities on Loan: | |||||||
Invesco Private Government Fund | 33,265 | 296,275 | (323,170) | - | - | 6,370 | 830** |
Invesco Private Prime Fund | 88,347 | 511,456 | (583,420) | - | (2) | 16,381 | 2,213** |
Total | $489,899 | $8,107,849 | $(7,418,025) | $14,616 | $(42) | $1,192,545 | $34,202 |
* | Amounts include a return of capital distribution reclassification which reduces dividend income and increases realized gain (loss) and/or change in unrealized appreciation (depreciation). |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
** | 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. |
(l) | The rate shown is the 7-day SEC standardized yield as of July 31, 2023. |
(m) | 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. |
Open Futures Contracts(a) | |||||
Long Futures Contracts | Number of Contracts | Expiration Month | Notional Value | Value | Unrealized Appreciation (Depreciation) |
Interest Rate Risk | |||||
Euro-Buxl | 2 | September-2023 | $295,942 | $(2,683) | $(2,683) |
Japan 10 Year Bonds | 1 | September-2023 | 1,031,877 | (8,013) | (8,013) |
Long Gilt | 2 | September-2023 | 246,737 | (744) | (744) |
U.S. Treasury 10 Year Ultra Notes | 4 | September-2023 | 467,937 | (9,150) | (9,150) |
Subtotal—Long Futures Contracts | (20,590) | (20,590) | |||
Short Futures Contracts | |||||
Interest Rate Risk | |||||
Euro-Schatz | 4 | September-2023 | (462,010) | 1,891 | 1,891 |
U.S. Treasury 5 Year Notes | 1 | September-2023 | (106,820) | 2,390 | 2,390 |
Subtotal—Short Futures Contracts | 4,281 | 4,281 | |||
Total Futures Contracts | $(16,309) | $(16,309) |
(a) | Futures contracts collateralized by $12,554 cash held with Merrill Lynch International, the futures commission merchant. |
Open Forward Foreign Currency Contracts | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
Currency Risk | ||||||
09/20/2023 | BNP Paribas S.A. | INR | 317,278 | USD | 3,855 | $2 |
09/20/2023 | BNP Paribas S.A. | JPY | 4,530,898 | USD | 32,927 | 835 |
09/20/2023 | BNP Paribas S.A. | USD | 326,315 | NOK | 3,514,380 | 20,980 |
09/20/2023 | BNP Paribas S.A. | USD | 116,807 | NZD | 191,000 | 1,830 |
09/20/2023 | Citibank, N.A. | CLP | 4,808,000 | USD | 5,951 | 250 |
09/20/2023 | Citibank, N.A. | IDR | 1,098,628,002 | USD | 73,314 | 610 |
09/20/2023 | Citibank, N.A. | USD | 51,760 | CZK | 1,146,000 | 880 |
09/20/2023 | Citibank, N.A. | USD | 70,722 | THB | 2,424,000 | 418 |
09/20/2023 | Citibank, N.A. | USD | 111,237 | ZAR | 2,062,380 | 3,574 |
08/02/2023 | Goldman Sachs International | USD | 42,606 | BRL | 203,690 | 468 |
09/20/2023 | Goldman Sachs International | KRW | 124,868,300 | USD | 98,477 | 483 |
09/20/2023 | Goldman Sachs International | USD | 96,612 | COP | 413,581,170 | 7,422 |
08/02/2023 | HSBC Bank USA | USD | 13,120 | BRL | 62,210 | 35 |
09/05/2023 | HSBC Bank USA | USD | 13,023 | BRL | 62,210 | 54 |
09/20/2023 | HSBC Bank USA | HUF | 3,593,714 | USD | 10,225 | 131 |
09/20/2023 | HSBC Bank USA | USD | 309,744 | AUD | 463,000 | 1,773 |
09/20/2023 | HSBC Bank USA | USD | 262,839 | CHF | 234,000 | 6,879 |
09/20/2023 | HSBC Bank USA | USD | 64,861 | GBP | 51,000 | 603 |
09/20/2023 | HSBC Bank USA | USD | 153,915 | JPY | 21,945,000 | 1,520 |
09/20/2023 | HSBC Bank USA | USD | 5,190 | KRW | 6,809,600 | 154 |
09/20/2023 | HSBC Bank USA | USD | 15,061 | MXN | 266,000 | 685 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | AUD | 4,028,420 | USD | 2,724,355 | 13,947 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | EUR | 31,000 | USD | 34,771 | 605 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | USD | 7,141,360 | EUR | 6,608,970 | 142,514 |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | USD | 934,470 | GBP | 746,818 | 24,158 |
09/20/2023 | Merrill Lynch International | INR | 2,411,542 | USD | 29,428 | 146 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Open Forward Foreign Currency Contracts—(continued) | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
09/20/2023 | Merrill Lynch International | USD | 203,123 | AUD | 304,500 | $1,751 |
09/20/2023 | Merrill Lynch International | USD | 1,173,890 | CAD | 1,567,402 | 15,545 |
09/20/2023 | Merrill Lynch International | USD | 2,260,699 | CNY | 16,112,000 | 7,338 |
09/20/2023 | Merrill Lynch International | USD | 74,757 | SGD | 99,970 | 597 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 29,159 | CHF | 26,250 | 1,098 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 292,439 | EUR | 266,800 | 1,606 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 4,916 | MXN | 85,370 | 138 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 13,052 | NOK | 139,400 | 724 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 352,790 | NZD | 574,660 | 4,153 |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 99,704 | SEK | 1,074,000 | 2,566 |
09/20/2023 | Royal Bank of Canada | USD | 218,175 | EUR | 200,000 | 2,249 |
Subtotal—Appreciation | 268,721 | |||||
Currency Risk | ||||||
09/20/2023 | Barclays Bank PLC | NOK | 328,711 | USD | 30,749 | (1,735) |
09/20/2023 | BNP Paribas S.A. | NOK | 14,660,312 | USD | 1,361,231 | (87,520) |
09/20/2023 | BNP Paribas S.A. | NZD | 2,908,655 | USD | 1,778,809 | (27,871) |
09/20/2023 | BNP Paribas S.A. | SEK | 2,593,000 | USD | 240,110 | (6,805) |
09/20/2023 | BNP Paribas S.A. | USD | 7,463 | HUF | 2,594,000 | (177) |
09/20/2023 | BNP Paribas S.A. | USD | 993,789 | JPY | 136,747,860 | (25,215) |
09/20/2023 | Citibank, N.A. | CZK | 318,000 | USD | 14,363 | (244) |
09/20/2023 | Citibank, N.A. | PLN | 625,221 | USD | 150,986 | (4,720) |
09/20/2023 | Citibank, N.A. | THB | 995,501 | USD | 29,045 | (172) |
09/20/2023 | Citibank, N.A. | USD | 21,982 | CLP | 17,759,000 | (923) |
09/20/2023 | Citibank, N.A. | USD | 18,362 | IDR | 274,827,310 | (175) |
09/20/2023 | Citibank, N.A. | ZAR | 1,231,643 | USD | 66,430 | (2,135) |
08/02/2023 | Goldman Sachs International | BRL | 203,690 | USD | 42,627 | (449) |
09/20/2023 | Goldman Sachs International | USD | 117,812 | KRW | 149,385,000 | (577) |
08/02/2023 | HSBC Bank USA | BRL | 62,210 | USD | 13,102 | (53) |
09/20/2023 | HSBC Bank USA | MXN | 5,352,500 | USD | 303,051 | (13,784) |
09/20/2023 | HSBC Bank USA | USD | 33,396 | HUF | 11,737,150 | (426) |
09/20/2023 | HSBC Bank USA | USD | 16,657 | INR | 1,369,720 | (25) |
09/20/2023 | HSBC Bank USA | ZAR | 847,357 | USD | 46,217 | (954) |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | EUR | 7,562,305 | USD | 8,171,491 | (163,071) |
09/20/2023 | J.P. Morgan Chase Bank, N.A. | USD | 2,309,832 | AUD | 3,415,476 | (11,825) |
09/20/2023 | Merrill Lynch International | AUD | 272,510 | USD | 181,783 | (1,567) |
09/20/2023 | Merrill Lynch International | CAD | 587,000 | USD | 439,628 | (5,822) |
09/20/2023 | Merrill Lynch International | EUR | 215,414 | USD | 235,543 | (1,869) |
09/20/2023 | Merrill Lynch International | USD | 80,881 | INR | 6,628,000 | (401) |
09/20/2023 | Morgan Stanley and Co. International PLC | CAD | 61,945 | USD | 46,876 | (131) |
09/20/2023 | Morgan Stanley and Co. International PLC | CHF | 798,521 | USD | 887,001 | (33,407) |
09/20/2023 | Morgan Stanley and Co. International PLC | EUR | 87,800 | USD | 96,238 | (528) |
09/20/2023 | Morgan Stanley and Co. International PLC | GBP | 39,430 | USD | 50,164 | (448) |
09/20/2023 | Morgan Stanley and Co. International PLC | MXN | 180,700 | USD | 10,405 | (292) |
09/20/2023 | Morgan Stanley and Co. International PLC | NOK | 339,190 | USD | 31,758 | (1,761) |
09/20/2023 | Morgan Stanley and Co. International PLC | NZD | 5,000 | USD | 3,077 | (29) |
09/20/2023 | Morgan Stanley and Co. International PLC | SEK | 5,727,434 | USD | 531,702 | (13,686) |
09/20/2023 | Morgan Stanley and Co. International PLC | USD | 39,256 | TRY | 1,067,530 | (763) |
09/20/2023 | Royal Bank of Canada | CAD | 285,000 | USD | 215,625 | (650) |
09/20/2023 | Royal Bank of Canada | CHF | 169,660 | USD | 191,171 | (4,386) |
09/20/2023 | Royal Bank of Canada | JPY | 14,507,380 | USD | 101,678 | (1,077) |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Open Forward Foreign Currency Contracts—(continued) | ||||||
Settlement Date | Counterparty | Contract to | Unrealized Appreciation (Depreciation) | |||
Deliver | Receive | |||||
09/20/2023 | Royal Bank of Canada | SEK | 2,360,760 | USD | 219,420 | $(5,380) |
09/20/2023 | State Street Bank & Trust Co. | SGD | 7,400 | USD | 5,486 | (92) |
09/20/2023 | UBS AG | COP | 38,678,356 | USD | 9,032 | (698) |
09/20/2023 | UBS AG | USD | 107,121 | TRY | 2,728,600 | (8,734) |
Subtotal—Depreciation | (430,577) | |||||
Total Forward Foreign Currency Contracts | $(161,856) |
Open Centrally Cleared Interest Rate Swap Agreements | ||||||||||
Pay/ Receive Floating Rate | Floating Rate Index | Payment Frequency | (Pay)/ Receive Fixed Rate | Payment Frequency | Maturity Date | Notional Value | Upfront Payments Paid (Received) | Value | Unrealized Appreciation (Depreciation) | |
Interest Rate Risk | ||||||||||
Receive | 3 Month NDBB | Quarterly | (4.69)% | Semi-Annually | 01/06/2028 | NZD | 18,733 | $(143) | $67 | $210 |
Receive | 6 Month ADBB | Semi-Annually | (4.34) | Semi-Annually | 07/05/2033 | AUD | 60,000 | — | 301 | 301 |
Receive | 6 Month ADBB | Semi-Annually | (4.30) | Semi-Annually | 11/01/2027 | AUD | 295,000 | (1,459) | (698) | 761 |
Receive | 3 Month CDOR | Semi-Annually | (3.43) | Semi-Annually | 04/03/2028 | CAD | 40,000 | (433) | 1,196 | 1,629 |
Pay | 3 Month CNRR007 | Quarterly | 2.47 | Quarterly | 07/29/2027 | CNY | 4,000,000 | — | 1,950 | 1,950 |
Receive | 3 Month NDBB | Quarterly | (4.44) | Semi-Annually | 07/05/2033 | NZD | 506,000 | — | 3,962 | 3,962 |
Receive | 3 Month STIBOR | Quarterly | (2.60) | Annually | 07/05/2032 | SEK | 1,920,000 | 634 | 6,959 | 6,325 |
Receive | SOFR | Annually | (3.46) | Annually | 02/16/2033 | USD | 1,132,000 | 8,189 | 22,551 | 14,362 |
Receive | 3 Month STIBOR | Quarterly | (1.15) | Annually | 02/02/2032 | SEK | 1,956,000 | 511 | 26,724 | 26,213 |
Receive | SONIA | Annually | (1.18) | Annually | 09/30/2031 | GBP | 110,000 | (4,350) | 30,072 | 34,422 |
Pay | 3 Month CNRR007 | Quarterly | 2.86 | Quarterly | 02/03/2028 | CNY | 14,056,000 | (565) | 35,578 | 36,143 |
Receive | 3 Month NDBB | Quarterly | (1.46) | Semi-Annually | 08/03/2026 | NZD | 473,000 | (7,003) | 29,789 | 36,792 |
Pay | TONAR | Annually | 0.06 | Annually | 03/01/2024 | JPY | 41,000,000 | (64,607) | 164 | 64,771 |
Subtotal — Appreciation | (69,226) | 158,615 | 227,841 | |||||||
Interest Rate Risk | ||||||||||
Receive | SONIA | Annually | (5.18) | Annually | 07/03/2028 | GBP | 127,000 | 1 | (2,416) | (2,417) |
Total Centrally Cleared Interest Rate Swap Agreements | $(69,225) | $156,199 | $225,424 |
See accompanying notes which are an integral part of this schedule.
Invesco World Bond Factor Fund
Abbreviations: | |
ADBB | —Australian Dollar Bank Bill |
AUD | —Australian Dollar |
BRL | —Brazilian Real |
CAD | —Canadian Dollar |
CDOR | —Canadian Dealer Offered Rate |
CHF | —Swiss Franc |
CLP | —Chile Peso |
CNRR007 | —China 7-Day Reverse Repo Rate |
CNY | —Chinese Yuan Renminbi |
COP | —Colombia Peso |
CZK | —Czech Koruna |
EUR | —Euro |
GBP | —British Pound Sterling |
HUF | —Hungarian Forint |
IDR | —Indonesian Rupiah |
INR | —Indian Rupee |
JPY | —Japanese Yen |
KRW | —South Korean Won |
MXN | —Mexican Peso |
NDBB | —New Zealand Dollar Bank Bill |
NOK | —Norwegian Krone |
NZD | —New Zealand Dollar |
PLN | —Polish Zloty |
SEK | —Swedish Krona |
SGD | —Singapore Dollar |
SOFR | —Secured Overnight Financing Rate |
SONIA | —Sterling Overnight Index Average |
STIBOR | —Stockholm Interbank Offered Rate |
THB | —Thai Baht |
TONAR | —Tokyo Overnight Average Rate |
TRY | —Turkish Lira |
USD | —U.S. Dollar |
ZAR | —South African Rand |
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.
Invesco World Bond Factor Fund
Notes to Quarterly Schedule of Portfolio Holdings
July 31, 2023
(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.
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 Advisers, Inc.’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, 2023. 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 | |
Investments in Securities | ||||
Non-U.S. Dollar Denominated Bonds & Notes | $— | $14,078,293 | $— | $14,078,293 |
U.S. Dollar Denominated Bonds & Notes | — | 5,774,587 | — | 5,774,587 |
U.S. Government Sponsored Agency Mortgage-Backed Securities | — | 2,837,862 | — | 2,837,862 |
U.S. Treasury Securities | — | 2,598,450 | — | 2,598,450 |
Exchange-Traded Funds | 381,150 | — | — | 381,150 |
Money Market Funds | 788,644 | 22,751 | — | 811,395 |
Total Investments in Securities | 1,169,794 | 25,311,943 | — | 26,481,737 |
Other Investments - Assets* | ||||
Futures Contracts | 4,281 | — | — | 4,281 |
Forward Foreign Currency Contracts | — | 268,721 | — | 268,721 |
Swap Agreements | — | 227,841 | — | 227,841 |
4,281 | 496,562 | — | 500,843 | |
Other Investments - Liabilities* | ||||
Futures Contracts | (20,590) | — | — | (20,590) |
Forward Foreign Currency Contracts | — | (430,577) | — | (430,577) |
Swap Agreements | — | (2,417) | — | (2,417) |
(20,590) | (432,994) | — | (453,584) | |
Total Other Investments | (16,309) | 63,568 | — | 47,259 |
Total Investments | $1,153,485 | $25,375,511 | $— | $26,528,996 |
* | Unrealized appreciation (depreciation). |
Invesco World Bond Factor Fund