Commodity futures price volatility
The fund’s returns are driven primarily by futures prices across energy, metals and agriculture, which can move abruptly.
- Scope
- Oil, gas, metals and agricultural contracts
- Materiality
- high
Invesco DB Commodity Index Tracking Fund
Invesco DB Commodity Index Tracking Fund is a commodity ETF-style trust that seeks to track the DBIQ Optimum Yield Diversified Commodity Index Excess Return through exchange-traded futures contracts. It gives investors broad, rules-based exposure to a diversified basket of energy, metals, agriculture and livestock commodities, while holding Treasury obligations and cash-like instruments for margin and liquidity management.
| % | |
|---|---|
| Commodity futures index exposure | 85% Core exposure to a diversified basket of exchange-traded commodity futures designed to track the DBIQ index. |
| Cash and collateral management | 10% Treasury obligations, money market mutual funds and T-Bill ETFs used for margin and liquidity purposes. |
| Fund share issuance and trading | 5% Creation units and exchange-listed shares that enable institutional creation/redemption and secondary-market access. |
The fund is built for institutional and sophisticated investors that want commodity beta without trading futures...
- Authorized Participantsprimary
Broker-dealers and large financial institutions that create and redeem 50,000-share creation units to support fund liquidity.
- Institutional investorsprimary
Asset managers, hedge funds and other institutions buying shares for diversified commodity exposure and hedging.
- Retail exchange-traded investorssecondary
Investors buying shares on NYSE Arca for simple access to commodity futures exposure.
- Portfolio allocatorssecondary
Multi-asset portfolios using the fund to diversify inflation-sensitive or real-asset exposure.
The fund is domiciled in the United States and trades on NYSE Arca, with operations centered on U.S...
- •United States domicile and NYSE Arca listing
- •U.S. Treasury collateral and cash management are U.S.-based
- •Futures exposure spans U.S., Europe and global commodity exchanges
- •Commodity broker and custodian are key U.S. operating counterparties
- •No country revenue disclosure; fund economics are market-exposure driven
The fund’s strategy is to maintain close tracking of the DBIQ Optimum Yield Diversified Commodity Index by holding...
01
Maintain index tracking precisionshort-term
The fund’s value proposition depends on minimizing tracking error versus the benchmark index.
02
Preserve liquidity and operational continuityshort-term
Creation/redemption and futures margining must function smoothly to keep the shares tradable and aligned with NAV.
03
Maintain diversified commodity exposuremedium-term
Broad diversification across energy, metals and agriculture reduces single-commodity concentration risk.
The fund is exposed to high volatility in commodity futures, where sharp moves in oil, metals or agriculture can...
Tracking error versus the index
Futures roll costs, market disruptions and position constraints can cause the fund to diverge from benchmark performance.
- Scope
- Index replication and futures roll process
- Materiality
- high
Clearing broker and exchange counterparty risk
Losses or delays could occur if the commodity broker, exchange or clearing house fails or becomes insolvent.
- Scope
- Margin deposits and open futures positions
- Materiality
- high
Creation/redemption disruption
The fund relies on authorized participants to create and redeem shares; disruptions can widen premiums or discounts to NAV.
- Scope
- Authorized participant network and exchange liquidity
- Materiality
- medium
Position limits and regulatory intervention
CFTC or exchange limits can constrain exposure and reduce the fund’s ability to track the index efficiently.
- Scope
- Futures position management
- Materiality
- medium
Fair value measurement of futures contracts
Primary driver of realized and unrealized gains/losses
Valuation of Treasury obligations and T-Bill ETFs
Affects Treasury income and liquidity presentation
Margin and broker balances
Impacts cash flow and balance sheet presentation
Distribution and income allocation
Affects per-share NAV and total return
INVESCO DB AGRICULTURE FUND
DBA · Commodity Contracts Brokers & Dealers
Invesco DB Agriculture Fund is a U.S.-listed commodity ETF structured as a Delaware statutory trust series that seeks to track the DBIQ Diversified Agriculture Index Excess Return.
Invesco DB Energy Fund
DBE · Commodity Contracts Brokers & Dealers
Invesco DB Energy Fund is a U.S.-listed commodity ETF-style trust that gives investors exposure to energy futures through the DBIQ Optimum Yield Energy Index Excess Return.
Invesco DB Oil Fund
DBO · Commodity Contracts Brokers & Dealers
Invesco DB Oil Fund is a U.S.-listed commodity ETF structured as a Delaware statutory trust series that gives investors exposure to crude oil futures rather than physical oil.
Invesco DB Precious Metals Fund
DBP · Commodity Contracts Brokers & Dealers
Invesco DB Precious Metals Fund is a U.S.-listed commodity ETF trust series that gives investors exposure to precious metals futures rather than physical bullion.
INVESCO DB BASE METALS FUND
DBB · Commodity Contracts Brokers & Dealers
Invesco DB Base Metals Fund is a U.S.-listed commodity exchange-traded fund organized as a series of a Delaware statutory trust.
Invesco DB US Dollar Index Bullish Fund
UUP · Commodity Contracts Brokers & Dealers
Invesco DB US Dollar Index Bullish Fund is a commodity pool structured as a Delaware statutory trust that seeks to track a long U.S.
: 28/04/2026