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    Invesco Focused Discovery Growth ETF

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    • Invesco 1-30 Laddered Treasury ETF
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    • Invesco BulletShares 2026 Corporate Bond ETF
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    • Invesco BulletShares 2027 Corporate Bond ETF
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    • Invesco BulletShares 2028 Corporate Bond ETF
    • Invesco BulletShares 2028 High Yield Corporate Bond ETF
    • Invesco BulletShares 2028 Municipal Bond ETF
    • Invesco BulletShares 2029 Corporate Bond ETF
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    • Invesco BulletShares 2030 Corporate Bond ETF
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    • Invesco BuyBack Achievers ETF
    • Invesco CEF Income Composite ETF
    • Invesco California AMT-Free Municipal Bond ETF
    • Invesco China Technology ETF
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    • Invesco Conservative Multi-Asset Allocation ETF
    • Invesco CurrencyShares Australian Dollar Trust
    • Invesco CurrencyShares British Pound Sterling Trust
    • Invesco CurrencyShares Canadian Dollar Trust
    • Invesco CurrencyShares Euro Trust
    • Invesco CurrencyShares Japanese Yen Trust
    • Invesco CurrencyShares Swiss Franc Trust
    • Invesco DB Agriculture Fund
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    • Invesco DB Precious Metals Fund
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    • Invesco DB US Dollar Index Bearish Fund
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    • Invesco DWA Basic Materials Momentum ETF
    • Invesco DWA Consumer Cyclicals Momentum ETF
    • Invesco DWA Consumer Staples Momentum ETF
    • Invesco DWA Developed Markets Momentum ETF
    • Invesco DWA Emerging Markets Momentum ETF
    • Invesco DWA Energy Momentum ETF
    • Invesco DWA Financial Momentum ETF
    • Invesco DWA Healthcare Momentum ETF
    • Invesco DWA Industrials Momentum ETF
    • Invesco DWA Momentum ETF
    • Invesco DWA SmallCap Momentum ETF
    • Invesco DWA Technology Momentum ETF
    • Invesco DWA Utilities Momentum ETF
    • Invesco Defensive Equity ETF
    • Invesco Dividend Achievers ETF
    • Invesco Dow Jones Industrial Average Dividend ETF
    • Invesco Dynamic Biotechnology & Genome ETF
    • Invesco Dynamic Building & Construction ETF
    • Invesco Dynamic Energy Exploration & Production ETF
    • Invesco Dynamic Food & Beverage ETF
    • Invesco Dynamic Large Cap Growth ETF
    • Invesco Dynamic Large Cap Value ETF
    • Invesco Dynamic Leisure and Entertainment ETF
    • Invesco Dynamic Market ETF
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    • Invesco Dynamic Networking ETF
    • Invesco Dynamic Oil & Gas Services ETF
    • Invesco Dynamic Pharmaceuticals ETF
    • Invesco Dynamic Semiconductors ETF
    • Invesco Dynamic Software ETF
    • Invesco Emerging Markets Sovereign Debt ETF
    • Invesco FTSE International Low Beta Equal Weight ETF
    • Invesco FTSE RAFI Developed Markets ex-U.S. ETF
    • Invesco FTSE RAFI Developed Markets ex-U.S. Small-Mid ETF
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    • Invesco FTSE RAFI US 1000 ETF
    • Invesco FTSE RAFI US 1500 Small-Mid ETF
    • Invesco Financial Preferred ETF
    • Invesco Focused Discovery Growth ETF
    • Invesco Fundamental High Yield Corporate Bond ETF
    • Invesco Fundamental Investment Grade Corporate Bond ETF
    • Invesco Global Clean Energy ETF
    • Invesco Global Listed Private Equity ETF
    • Invesco Global Short Term High Yield Bond ETF
    • Invesco Global Water ETF
    • Invesco Golden Dragon China ETF
    • Invesco Growth Multi-Asset Allocation ETF
    • Invesco High Yield Bond Factor ETF
    • Invesco High Yield Equity Dividend Achievers ETF
    • Invesco India ETF
    • Invesco International BuyBack Achievers ETF
    • Invesco International Corporate Bond ETF
    • Invesco International Dividend Achievers ETF
    • Invesco Investment Grade Defensive ETF
    • Invesco Investment Grade Value ETF
    • Invesco KBW Bank ETF
    • Invesco KBW High Dividend Yield Financial ETF
    • Invesco KBW Premium Yield Equity REIT ETF
    • Invesco KBW Property & Casualty Insurance ETF
    • Invesco KBW Regional Banking ETF
    • Invesco MSCI Global Timber ETF
    • Invesco Moderately Conservative Multi-Asset Allocation ETF
    • Invesco NASDAQ 100 ETF
    • Invesco NASDAQ Internet ETF
    • Invesco NASDAQ Next Gen 100 ETF
    • Invesco National AMT-Free Municipal Bond ETF
    • Invesco New York AMT-Free Municipal Bond ETF
    • Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF
    • Invesco Preferred ETF
    • Invesco PureBeta 0-5 Yr US TIPS ETF
    • Invesco PureBeta FTSE Developed ex-North America ETF
    • Invesco PureBeta FTSE Emerging Markets ETF
    • Invesco PureBeta MSCI USA ETF
    • Invesco PureBeta MSCI USA Small Cap ETF
    • Invesco PureBeta US Aggregate Bond ETF
    • Invesco QQQ
    • Invesco RAFI Strategic Developed ex-US ETF
    • Invesco RAFI Strategic Developed ex-US Small Company ETF
    • Invesco RAFI Strategic Emerging Markets ETF
    • Invesco RAFI Strategic US ETF
    • Invesco RAFI Strategic US Small Company ETF
    • Invesco Raymond James SB-1 Equity ETF
    • Invesco Real Assets ESG ETF
    • Invesco Russell 1000 Dynamic Multifactor ETF
    • Invesco Russell 1000 Enhanced Equal Weight ETF
    • Invesco Russell 1000 Equal Weight ETF
    • Invesco Russell 1000 Low Beta Equal Weight ETF
    • Invesco Russell 2000 Dynamic Multifactor ETF
    • Invesco S&P 100 Equal Weight ETF
    • Invesco S&P 500 BuyWrite ETF
    • Invesco S&P 500 Downside Hedged ETF
    • Invesco S&P 500 Enhanced Value ETF
    • Invesco S&P 500 Equal Weight Communication Services ETF
    • Invesco S&P 500 Equal Weight Consumer Discretionary ETF
    • Invesco S&P 500 Equal Weight Consumer Staples ETF
    • Invesco S&P 500 Equal Weight ETF
    • Invesco S&P 500 Equal Weight Energy ETF
    • Invesco S&P 500 Equal Weight Financials ETF
    • Invesco S&P 500 Equal Weight Health Care ETF
    • Invesco S&P 500 Equal Weight Industrials ETF
    • Invesco S&P 500 Equal Weight Materials ETF
    • Invesco S&P 500 Equal Weight Real Estate ETF
    • Invesco S&P 500 Equal Weight Technology ETF
    • Invesco S&P 500 Equal Weight Utilities ETF
    • Invesco S&P 500 GARP ETF
    • Invesco S&P 500 High Beta ETF
    • Invesco S&P 500 High Dividend Low Volatility ETF
    • Invesco S&P 500 Low Volatility ETF
    • Invesco S&P 500 Minimum Variance ETF
    • Invesco S&P 500 Momentum ETF
    • Invesco S&P 500 Pure Growth ETF
    • Invesco S&P 500 Pure Value ETF
    • Invesco S&P 500 Quality ETF
    • Invesco S&P 500 Revenue ETF
    • Invesco S&P 500 Top 50 ETF
    • Invesco S&P 500 Value with Momentum ETF
    • Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF
    • Invesco S&P Emerging Markets Low Volatility ETF
    • Invesco S&P Emerging Markets Momentum ETF
    • Invesco S&P Global Water Index ETF
    • Invesco S&P International Developed High Dividend Low Volatility ETF
    • Invesco S&P International Developed Low Volatility ETF
    • Invesco S&P International Developed Momentum ETF
    • Invesco S&P International Developed Quality ETF
    • Invesco S&P MidCap 400 Equal Weight ETF
    • Invesco S&P MidCap 400 Pure Growth ETF
    • Invesco S&P MidCap 400 Pure Value ETF
    • Invesco S&P MidCap 400 Revenue ETF
    • Invesco S&P MidCap Low Volatility ETF
    • Invesco S&P MidCap Momentum ETF
    • Invesco S&P MidCap Quality ETF
    • Invesco S&P MidCap Value with Momentum ETF
    • Invesco S&P SmallCap 600 Equal Weight ETF
    • Invesco S&P SmallCap 600 Pure Growth ETF
    • Invesco S&P SmallCap 600 Pure Value ETF
    • Invesco S&P SmallCap 600 Revenue ETF
    • Invesco S&P SmallCap Consumer Discretionary ETF
    • Invesco S&P SmallCap Consumer Staples ETF
    • Invesco S&P SmallCap Energy ETF
    • Invesco S&P SmallCap Financials ETF
    • Invesco S&P SmallCap Health Care ETF
    • Invesco S&P SmallCap High Dividend Low Volatility ETF
    • Invesco S&P SmallCap Industrials ETF
    • Invesco S&P SmallCap Information Technology ETF
    • Invesco S&P SmallCap Low Volatility ETF
    • Invesco S&P SmallCap Materials ETF
    • Invesco S&P SmallCap Momentum ETF
    • Invesco S&P SmallCap Quality ETF
    • Invesco S&P SmallCap Utilities & Communication Services ETF
    • Invesco S&P SmallCap Value with Momentum ETF
    • Invesco S&P Spin-Off ETF
    • Invesco S&P Ultra Dividend Revenue ETF
    • Invesco Select Growth ETF
    • Invesco Senior Loan ETF
    • Invesco Solar ETF
    • Invesco Taxable Municipal Bond ETF
    • Invesco Total Return Bond ETF
    • Invesco Treasury Collateral ETF
    • Invesco US Large Cap Core ESG ETF
    • Invesco Ultra Short Duration ETF
    • Invesco VRDO Tax-Free Weekly ETF
    • Invesco Variable Rate Investment Grade ETF
    • Invesco Variable Rate Preferred ETF
    • Invesco Water Resources ETF
    • Invesco WilderHill Clean Energy ETF
    • Invesco Zacks Mid-Cap ETF
    • Invesco Zacks Multi-Asset Income ETF

    This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

    • You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
    • The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
    • These additional risks may be even greater in bad or uncertain market conditions.
    • The ETF will publish on its website each day a “Substitute Basket” designed to help trading in shares of the ETF. While the Substitute Basket includes some of the ETF's holdings, it is not the ETF's actual portfolio.

    The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF's performance. If other traders are able to copy or predict the ETF's investment strategy, however, this may hurt the ETF's performance.

    For additional information regarding the unique attributes and risks of the ETF, see the Risk & Other Information section below.

    Product Details

    The Invesco Focused Discovery Growth ETF (Fund) is an actively-managed exchanged-traded fund that seeks capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in exchange-traded common stocks of U.S. companies that are newer or more established companies that are in the early growth phase of their business cycle, which is typically marked by above average growth rates. The Fund will primarily hold securities of mid-capitalization issuers defined by the Russell Midcap® Growth Index. This range is subject to change at any time due to market activity or changes in the composition of that index.

    as of 12/31/2020 12/31/2020

    Performance

    Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
    Russell Midcap Growth Index 35.59 35.59 20.50 18.66 15.04 -2.02
    Fund History (%)
    Fund NAV N/A N/A N/A N/A N/A -2.21
    After Tax Held N/A N/A N/A N/A N/A -2.21
    After Tax Sold N/A N/A N/A N/A N/A -1.31
    Fund Market Price N/A N/A N/A N/A N/A -2.13
    Index History (%) YTD 1Yr 3Yr 5Yr 10Yr Since Inception
    Russell Midcap Growth Index 35.59 35.59 20.50 18.66 15.04 -2.02
    Fund History (%)
    Fund NAV N/A N/A N/A N/A N/A -2.21
    After Tax Held N/A N/A N/A N/A N/A -2.21
    After Tax Sold N/A N/A N/A N/A N/A -1.31
    Fund Market Price N/A N/A N/A N/A N/A -2.13

    This is a new Fund and has no full-year Fund performance to report as of most recent quarter end.

    Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

    Frequency Distribution of Discounts & Premiums

        Bid/Ask MidPoint Above NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2020 7 3 2 0 0 0 0
    Year Ended 2020 7 3 2 0 0 0 0
        Bid/Ask Midpoint Below NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2020 7 2 0 0 0 0 0
    Year Ended 2020 7 2 0 0 0 0 0

    Fund Inception : 12/22/2020

    Premiums/Discounts

     Risk & Other Information

    ETFs trade like stocks, fluctuate in market value and may trade at prices above or below the ETF's net asset value. Brokerage commissions and ETF expenses will reduce returns.

    ETF shares may be bought or sold throughout the day at their market price, not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.

    Because the Shares are traded in the secondary market, a Broker may charge a commission to execute a transaction in Shares, and an investor also may incur the cost of the spread between the price at which a dealer will buy Shares and the somewhat higher price at which a dealer will sell Shares.

    The objective of the actively managed ETF Substitute Basket is to construct a portfolio of stocks and representative index ETFs that tracks the daily performance of an actively managed ETF without exposing current holdings, trading activities, or internal equity research. The Substitute Basket is designed to conceal any nonpublic information about the underlying portfolio and only uses the Funds latest publicly disclosed holdings, representative ETFs, and the publicly known daily performance in its construction. You can gain access to the Substitute Basket and the Basket Overlap on invesco.com/etfs.

    The Substitute Basket is designed to closely track the daily performance of the Fund but is not the Fund's actual portfolio. The Substitute Basket often will include a significant percentage of the securities held in the Fund’s portfolio, but it will exclude (or modify the weightings of) certain securities held in the Fund’s portfolio, such as those securities that the Fund’s portfolio managers are actively looking to purchase or sell, or securities which, if disclosed, could increase the risk of front-running or free-riding. The Substitute Basket may also include cash.

    Although the Substitute Basket is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the Fund at or close to the underlying NAV per Share of the Fund, there is a risk (which may increase during periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the Fund; ETFs trading on the basis of a published Substitute Basket may trade at a wider bid/ask spread than ETFs that publish their portfolios on a daily basis, especially during periods of market disruption or volatility, and therefore, may cost investors more to trade; and although the Fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Substitute Basket to identify a Fund's trading strategy, which if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the Fund and its shareholders.

    In general, equity values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.

    Growth stocks tend to be more sensitive to changes in their earnings and can be more volatile.

    Stocks of medium-sized companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale.

    The investment techniques and risk analysis used by the portfolio managers may not produce the desired results.

    The risks of investing in securities of foreign issuers, including emerging market issuers, can include fluctuations in foreign currencies, political and economic instability, and foreign taxation issues.

    The Fund is non-diversified and may experience greater volatility than a more diversified investment.

    Active trading results in added expenses and may result in a lower return and increased tax liability.

    From time to time, certain shareholders may own a substantial amount of the shares in the Fund or invest and hold their shares for a limited time solely to facilitate commencement of the Fund or to achieve a specified size or scale in the Fund. Redemptions by large shareholders could have a significant negative impact on the Fund. Large cash purchases, if allowed, may adversely affect the Fund's performance since it would delay the Fund from investing in new cash, requiring it to maintain a larger cash position than normal. Transactions by large shareholders may account for a large percentage of the trading volume and may, therefore, have a material upward or downward effect on the market price of the Shares. The Fund may hold a relatively large proportion of its assets in cash in anticipation of large redemptions, diluting its investment returns.

    There may be circumstances where a security held in the Fund but not the Substitute Basket does not have readily available market quotations. If determined that such circumstance may affect the reliability of the Substitute Basket as an arbitrage vehicle; that information, along with the identity and weighting of that security in the Fund's portfolio, will be publicly disclosed on the Fund's website and the appropriate remedial measures will be assessed by the Adviser. During these times, market participants may use this information to engage in certain predatory trading practices that may harm the Fund and its shareholders. If 10% of the Fund's securities in the portfolio do not have readily available market quotations, a prompt request to halt trading on the Fund would be made to the Exchange, meaning that investors would not be able to trade the Shares. Shares traded on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable or extraordinary market volatility. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged.

    The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

    The Russell Midcap® Growth Index is an unmanaged index considered representative of mid-cap growth stocks. The Russell Midcap Growth Index is a trademark/service mark of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co.