[SCHEDULE 13G] Invesco MSCI North America Climate ETF SEC Filing

Rhea-AI Filing Summary

AdvisorShares Trust has filed a Schedule 13G revealing a passive ownership stake in the Invesco S&P International Developed Low Volatility ETF, a series of Invesco Exchange-Traded Fund Trust II. As of 30 June 2025, the Delaware-domiciled trust beneficially owned 1,171,328 shares, equating to 9.68 % of the ETF’s outstanding units. The filer reported sole voting and sole dispositive power over the entire position, with no shared authority.

The disclosure was filed under Rule 13d-1(b)/(c)/(d), indicating the holding is passive and was acquired in the ordinary course of business—not to influence control of the issuer. This is affirmed in the certification signed by Chief Compliance Officer Stefanie Little on 3 July 2025.

Crossing the 5 % threshold but remaining below 10 % obliges AdvisorShares to report via Form 13G while avoiding the more activist-oriented Schedule 13D. For market participants, the filing highlights meaningful institutional interest in the low-volatility international equity strategy but does not, on its own, signal any imminent strategic changes to the ETF or its holdings.

Positive

• AdvisorShares Trust now holds 9.68 % of outstanding shares, demonstrating sizable institutional confidence in the ETF’s low-volatility strategy.

Negative

• Concentration risk rises as a single holder nears the 10 % threshold, which could affect liquidity dynamics if the position is later unwound.

Insights

Portfolio Manager

TL;DR – Passive 9.68 % stake, limited immediate impact.

AdvisorShares Trust’s disclosure is routine for a position nearing 10 % ownership. Because the filing is on Schedule 13G—not 13D—it confirms a non-activist stance. While the size underscores institutional confidence in the ETF’s defensive international equity approach, liquidity risk is minimal given ETF share creation/redemption mechanisms. I view the news as informative but neutral to valuation or flows.

ETF Analyst

TL;DR – Significant but passive holding; watch for future threshold moves.

The 1.17 million-share position makes AdvisorShares one of the ETF’s largest holders. Should the stake exceed 10 %, reporting would shift to a 13D, potentially hinting at greater influence. For now, however, the filing simply updates public float concentration data. Given the ETF structure, creations/redemptions can absorb large trades, so I classify the disclosure as not materially impactful to other shareholders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Invesco Exchange-Traded Fund Trust II

(Name of Issuer)

Invesco S&P International Developed Low Volatility ETF

(Title of Class of Securities)

46138E230

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 46138E230

1

Names of Reporting Persons

AdvisorShares Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,171,328.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,171,328.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,171,328.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.68 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Invesco Exchange-Traded Fund Trust II
(b)	Address of issuer's principal executive offices: 3500 Lacey Road, Suite 700, Downers Grove, Illinois, 60515
Item 2.
(a)	Name of person filing: AdvisorShares Trust
(b)	Address or principal business office or, if none, residence: 4800 Montgomery Lane, Suite 150 Bethesda, Maryland 20814
(c)	Citizenship: Delaware
(d)	Title of class of securities: Invesco S&P International Developed Low Volatility ETF
(e)	CUSIP No.: 46138E230
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,171,328
(b)	Percent of class: 9.68 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,171,328
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,171,328
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AdvisorShares Trust

Signature:	/s/ Stefanie Little
Name/Title:	Stefanie Little - Chief Compliance Officer
Date:	07/03/2025

FAQ

Who filed the Schedule 13G for the Invesco S&P International Developed Low Volatility ETF?

AdvisorShares Trust filed the Schedule 13G as a passive investor.

How many shares does AdvisorShares Trust own?

The trust reports beneficial ownership of 1,171,328 shares.

What percentage of the ETF’s outstanding shares does this represent?

The position equals 9.68 % of the total shares outstanding.

Does AdvisorShares share voting or dispositive power with others?

No. It has sole voting and sole dispositive power over the entire stake.

When was the ownership stake measured?

The ownership is reported as of 30 June 2025.

Is the filing activist in nature?

No. Filing under Schedule 13G indicates a passive investment intent.